1

May 2014

PAPUA MINING PLC

2PAPUA MINING PLC

Disclaimer

The contents of the presentation slides (the “Slides”) and the information which you are given at the accompanying verbal presentation (“Presentation”) have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (the “Act”). Reliance on the Slides and/or the Presentation for the purpose of engaging in any investment activity may expose an individual to significant risk of losing any or all of the property or other assets invested.

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3PAPUA MINING PLC

Papua Mining plc• Papua Mining plc (PM) is a UK incorporated company quoted on the AIM market in London

• Boots-on-the-ground exploration for large copper and gold deposits in Papua New Guinea

• Holding twelve licences with a total area of 2,435 km2 through our two PNG incorporated subsidiaries

• Recent exploration has focussed on the Mt. Nakru region of New Britain including targets at Junction, Flying Fox and Tripela

• Approximately US$17 million expended to date on exploration leading to the current drilling programme at Tripela

4MANAGEMENT

PM Management TeamHugh Martin McCullough (aged 64), Chief Executive OfficerHugh McCullough has over 40 years’ experience in gold and base metal exploration, principally in Ireland, Ghana and Mali. Having previously worked as a project geologist, in 1982 he became chief executive of Glencar Mining plc, formerly a public company listed on the IEX (of the Dublin Stock Exchange) and AIM. Mr. McCullough was responsible for the management, financing and strategy of Glencar for over 27 years until Glencar was taken over by Gold Fields Limited in September 2009. During his time at Glencar, Mr. McCullough was involved in a number of multi million ounce gold discoveries and oversaw the development of certain gold deposits from exploration to production. Mr. McCullough is a Professional Geologist and holds an Honours degree in Geology from University College Dublin and the degree of Barrister-at-Law from the King’s Inns, Dublin. In 1994 he was appointed by the then Irish Minister for Energy to the National Minerals Policy Review Group to review Irish Minerals Policy and to make recommendations to the Minister for the reform of the fiscal and regulatory policy for the mining industry in Ireland.

Kieran Harrington (aged 51), Technical DirectorKieran Harrington is a geologist with 30 years of experience and expertise in gold exploration, mine development, project evaluation and project management, with particular experience and past success in exploration of gold deposits in West Africa and Europe. He joined Glencar Mining plc in 1992 as a senior geologist where he was involved in the discovery of a major commercial mine in Ghana (Wassa) and the more recent discovery of the Komana Deposit in Southern Mali. He left Glencar as Technical Director on its acquisition by Gold Fields Limited in 2009. Prior to joining Glencar, Mr. Harrington worked with Tara Prospecting Ltd and Burmin Exploration and Development Ltd. Mr. Harrington is a Professional Geologist holding an Honours degree in Geology from theNational University of Ireland, Galway.

Christopher Muller (aged 40), Country Manager and Chief GeologistChris Muller has 15 years of experience in exploration and mine geology in a number of developing nations. Prior to joining the Group in November 2011, he held a managerial role with Morobe Mining Joint Ventures, the joint venture between Harmony Gold and Newcrest Mining in PNG where he led the Nambonga Porphyry and Golpu West/Golpu Deeps discovery team. He was responsible for the discovery hole in the Golpu West porphyry deposit. He has specific experience in Borneo, Mongolia and PNG in the design and implementation of geochemical sampling and geophysical programmes. Prior to joining Morobe Mining Joint Ventures he worked as a geologist for Allied Gold Limited in PNG, Ivanhoe Mines Limited in Mongolia, China and Indonesia and Glencar Mining plc in Ghana. Mr. Muller has a PhD in Tectonics/Biogeography of Indo-Pacific using  Rhopaloceran genetics, a High First Class honours degree from the Centre of Ore Deposit Research at the University of Tasmania and a Bachelor of Science degree from Macquarie University.

5GROUP SHAREHOLDING

Group Shareholding %

South Pacific Mining Holdings Limited 28.3Michael Somerset-Leeke

18.6JP Morgan Asset Management UK Limited

7.3Hargreave Hale Limited 6.5

Peter de Savary 5.8

Salida Capital (Europe) Limited 4.9

Stanley Nominees Limited 3.8

Directors hold 2.5

Total shares in issue 34,996,334

6PAPUA NEW GUINEA

• Numerous world class copper-gold deposits in the region

• Golpu is the most recent world-class discovery in PNG

• Much of PNG is under-explored

• High potential for discovering additional economic mineral deposits

PNG – Proven Potential

Ambunti

Project

New BritainProject

Tonnes Grade Metal

Mt Au (g/t) Cu (%) Au( Moz) Cu (Mt)

Grasberg 5212 0.7 0.8 116.5 41.5

Lihir 640 2.4 - 48.5 -

Porgera 134 4.4 - 19.1 -

Wafi-Golpu 1180 0.8 0.8 28 9

Frieda 1900 0.2 0.45 14.3 8.6

Ok Tedi 694 0.6 0.7 14 4.8

Bougainville 1064 0.4 0.3 12.7 3.5

Hidden Valley 103 1.6 - 5.6 -

Yandera 776 0.1 0.37 2.2 2.8

Misima 85 1.4 - 3.7 -

Data Sources: Harmony Gold Mining website, Newcrest Mining Ltd Dec 2013 Mineral Resource Statement

Frieda

New BritainIsland

PN

G

Ind

on

esia

Mobile Belt

PM Group Project Locations

Copper/Gold depositsGold deposits

Australia

PNG

MAPARE

A

Port Moresby

7REGIONAL GEOLOGYGEOLOGICAL SETTING

8STRATEGY

Systematic approach to exploration• Historical data collation

• Remote Sensing

• Airborne Geophysics

• Ridge and Spur Soil/Drainage Rock Chip Sampling

• Grid Soil Sampling

• Trenching

• Geological (Lithology, Alteration & Structural) Mapping

• Mineral analysis (Petrology, Micro-Probe, PIMA, XRD)

• Ground geophysics (Induced Polarization and Electro-magnetic surveys)

• Diamond drilling

EXPLORATION STRATEGY

9NEW BRITAIN TARGETING

Kulu-Fulleborn Trend

Tripela2012Soil Geochemistry, Rock sampling

2013 Rock sampling TrenchingAlteration mapping

2014Drilling

Junction2011 Soil Geochemistry, Rock sampling

2012 Rock sampling Alteration mappingGround IP & EM

2013 – trenching, drilling

Kori-Dagi2011Soil Geochemistry, Rock sampling2012Soil GeochemistryRock sampling

Kandoka2012Soil Geochemistry, Rock samplingMapping

Simuku South2011Soil Geochemistry, Rock samplingMapping

Mt Du Faure2012Ridge & Spur soils, Rock sampling

Plesyumi South2010 Soil Geochemistry, Rock sampling

2012 Soil GeochemistryRock sampling MappingGround IP & EM

Flying Fox2011 Soil Geochemistry, Rock sampling,

Alteration mappingGround IP

2013Ground EM, drilling

Roku2013 Soil Geochemistry, Rock sampling

Pora2013 Soil Geochemistry, Rock sampling

10MAKING FRIENDSMAPPING - ALTERATION

Geological Mapping

FIELD MAPPING

11PROSPECTIVITY

Path to Discovery• Following systematic soil geochemical sampling over

selected geophysical target areas, contoured geochemical grids are generated for each element

• Discovery of widespread high-grade copper mineralisation at surface at numerous localities across the Mt Nakru area

• Integration of soil geochemistry with rock chip sampling and geological mapping data defined three main anomalies in the Mt. Nakru area, namely Junction, Flying Fox, and Tripela

• The vectoring exercise supports the possible presence of porphyry systems

• Diamond drilling at Junction and Tripela to test for the inferred mineralised porphyry systems.

12GEOPHYSICS

Coppermoly Nakru

prospect

GEOPHYSICS

Reduced-to-Pole aeromagnetic data showing Cu-Au prospects within an interpretedsigmoidal shaped dilational structure developed as a link zone during sinistral movement on a NW-SE trending regional fracture.

13MAKING FRIENDSGEOCHEMISTRY – MT. NAKRU

Coppermoly/BarrickJV Ground Junction Tripela

Flying Fox

Cu soil contour >50ppm

Cu soil contour >100ppm

Rock sample >1000ppm Cu

Drill target

Hydrothermal alteration zone(from aeromagnetics data)

Logging Road

N

14MAKING FRIENDSGEOPHYSICS - JUNCTION

Ground geophysics – Junction IP & EM

15PROSPECTIVITY

Prospectivity• Positive project review in September 2013 by Greg

Corbett, a leading porphyry expert and his colleague Doug Menzies.* The review recognised the following characteristics of a copper-gold porphyry environment in our Mt Nakru area:

• Well defined wall-rock mineral assemblage and quartz-sulphide veins typical of the upper parts of mineralised porphyry copper-gold bearing environments

• Elevated copper-molybdenum in surface soil samples similar to copper-gold porphyry deposits elsewhere

• Multiple phases of igneous intrusions

• D veins and pebble dykes diagnostic of porphyry environment.

* The full Corbett & Menzies Consulting Pty Ltd September 2013 report is available on the Group’s website at www.papuamining.com

16PORPHYRY GEOLOGYGEOLOGICAL MODEL

Corbett 2014

17GEOLOGICAL MODEL

Corbett and Menzies InterpretationJUNCTIO

NTRIPELA

18GETTING AROUNDMASSIVE SULPHIDE AT T11

19GETTING AROUNDMASSIVE SULPHIDE AT T11

Massive sulphide outcrop at Tripela

20PORPHYRY INDICATORS

Diagnostic indicators of porphyry proximity

D vein Pebble Dyke

21WAFI-GOLPU DEPOSITSource: Harmony Gold Mining/Newcrest Mining websites

WAFI GOLPU

400 metres

14

00

m

etre

s2010Golpu

resource

Wafi-Golpu Deposit

(Harmony/Newcrest)Wafi Golpu Resource, Aug 2012

• 28.3 Moz Au• 9.1 Mt Cu• 38.9 Moz Au equiv

Wafi Golpu exploration target of

• 40 Moz Au• 15 Mt Cu

WAFI GOLPU DEPOSIT

2010 Wafi resource

103Mt @ 1.9g/t6.2 Moz Au

SOUTH

NORTH

2007resourc

e

WAFI

GOLPU

Limit of Drilling

Drillhole WR359 860m @ 0.7g/t Au & 1.37%Cu

Drillhole WR377 883m @ 2.23g/t Au & 2.15%Cu

2010 Golpu resource501Mt @ 0.54g/t & 0.95% Cu

8.8 Moz Au / 4.3 Mt Cu

MiapilliPorphyry

0m RL

1000m RL

2010Wafi

resource

Drillhole WR363595m @ 1.653g/t Au & 2.03%Cu

Schematic Long Section through the Harmony/Newcrest Wafi Golpu

Deposit

2012 Wafi resource132Mt @ 1.69g/t

6.9 Moz Au

2012 Golpu resource1,000 Mt @ 0.63g/t & 0.90%

Cu20.3 Moz Au / 9.1 Mt Cu

22SUMMARY

Summary• The Kulu-Fulleborn Trend is highly prospective for Cu/Au porphyry and

related deposits

• Historical exploration work has been focussed on very small areas but has shown significant copper-gold mineralised systems occur in the belt at several localities

• Papua Mining plc has been exploring with a systematic, field-based approach since 2010

• Combining new technologies with ‘boots-on-the-ground’, systematic geochemistry and prospecting has already produced significant hitherto undiscovered new targets across the entire licence area

• Initial drilling in 2013 at the Junction target has confirmed porphyry signature at depth

• Shallower target inferred at Tripela and drilling commenced there in January 2014