Mining South Australia PresentationPresentation

“Monax Exploration Update”

27 November 201327 November  2013

Gary Ferris

Managing DirectorManaging Director

Disclaimer

Forward Looking Statements“The following presentation includes forward looking statements. Forward looking statements inherently involve subjective judgementand analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside of the control of, andmay be unknown to, the Company. Actual results and developments may vary materially from those expressed in these materials.The types of uncertainties which are relevant to the Company may include but are not limited to commodity prices politicalThe types of uncertainties which are relevant to the Company may include, but are not limited to, commodity prices, politicaluncertainty, changes to the regulatory framework which applies to the business of the Company and general economicconditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements.

Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicablel l t t k h li ti l th C d t d t k bli ti t bli l d t i flaw or any relevant stock exchange listing rules, the Company does not undertake any obligation to publicly update or revise any ofthe forward looking statements or any change in events, conditions or circumstances on which any such statement is based.”

Competent Person StatementThe information in this presentation that relates to Exploration Results is based on information compiled by Mr G M Ferris, who is aMember of the Australasian Institute of Mining and Metallurgy. Mr Ferris is employed full time by the Company as Managing Directorand, has a minimum of five years relevant experience in the style of mineralisation and type of deposit under consideration; andqualifies as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves”. Mr Ferris consents to the inclusion of the information in this report in the form and context inwhich it appears.which it appears.

Information in this presentation that relates to Mineral Resources was compiled by Ms Sharron Sylvester, who is a Member of theAustralian Institute of Geoscientists (RPGeo 10125). Ms Sylvester is a full-time employee of AMC Consultants Pty Ltd and hassufficient experience relevant to the styles of mineralisation and to the activities which are being reported to qualify as a Competentp y g p q y pPerson as defined by the JORC Code, 2012 and consents to the release of the information compiled in this report in the form andcontext in which it appears.

Corporate Snapshot

Directors/Executives

Robert Kennedy Non-Executive

Profile

Exploration Office: Unit 2, 81 Harrison Road, Dudley Park, SA 5008Chairman

Gary Ferris Managing Director

Glenn Davis Non-Executive Director

Vision: To move from explorer to producer via organic growth of current and acquired Cu-Au, Ni-Cu and graphite projects within South Australia.

Virginia Suttell Company SecretaryStrategy: To concentrate efforts on the identification of world-class exploration assets of IOCG, magmatic Ni-Cu and coarse flake graphite, thereby attracting developmental funding through JVs with major commodity houses.

Cash : As at 30 September 2013, $1.04 million

Share Details

Total shares on Issue 150,214,803

Market Capitalisation $3 8 millionMarket Capitalisation $3.8 million

Share price at 2511/13 2.5 cents

Top Twenty Shareholders 37.9%

Waddikee Project – Location

• Located on Eyre Peninsula –“The Pilbara of Graphite”.

• Eyre Peninsula – current focusEyre Peninsula current focus for Iron & Graphite.

Iron Projects include:W b (I R d)• Warramboo (Iron Road)

• Wilgerup (Centrex Metals)• Gum Flat (Lincoln Minerals)• Iron Duke & others (Arrium)Iron Duke & others (Arrium)• East coast deposits (Centrex &

Eyre Iron JV’s)• Wilcherry Hill – (Ironclad)

Graphite Projects include:• Campoona & Sugarloaf Hill –

Archer ExplorationArcher Exploration• Koppio & Kookaburra Gully –

Lincoln Minerals• Uley – Valence Industres

Wil l S th M Mi i• Wilclo South – Monax Mining

Waddikee Project – Exploration History• Initial focus was base metals• Initial focus was base metals,

gold and uranium.

• Discovery of high-grade manganese changed the focus to manganese and iron.

• Monax had a JV with OM• Monax had a JV with OM Holdings for manganese and iron.

• During final phase of exploration, Monax undertook detailed induced polarisation surveys to outline manganesesurveys to outline manganese horizons.

• Results failed to outline manganese but did show high chargeability which was due to graphite.

WaddikeeDetailed magnetic

image

Projects & Investment Highlights

Waddikee Graphite ProjectWaddikee Graphite Project

Reviewing Options

Waddikee Graphite Project – historical data

Background image – airborne electromagnetic image – red = high conductivity

Waddikee Graphite Project – historical data

Note all holes are vertical. Intersections represent downhole lengths, true widths unknown.

• Based on review

Waddikee – Graphite Prospects

• Based on review of historical rock chips and drill holes – Monaxholes – Monax outlined eight potential graphite prospects at itsprospects at its Waddikee Graphite Project on SA’s Eyre yPeninsula.

Sugarloaf Deposit

July 2012

Waddikee ‐Maiden Graphite Drilling Program Ju y 0

• Drilled within areas not under crop in June 2012.

• Completed 40 reverse circulation (RC) holes totalling 2908m.

• Drilled five out of the eight prospects outlined.

• Observed graphite at all five prospects.

• Best prospects Wilclo South and Lacroma.

Waddikee – Maiden Drilling Program 

Lacroma ProspectLacroma Prospect

• Minor surface graphite

• Previous drilling by WMC reported 70m of graphite

M d ill d WMC h l• Monax re-drilled WMC hole and intersected 60m @ 6.8% total graphitic carbon (TGC).

• Significant conductivity feature located further east –UNTESTED.

• Surface graphite – fine grained

Note: downhole lengths reported, true widths unknownScale bar = 200 microns

Wilclo South Prospect

Waddikee – Maiden Drilling Program 

Wilclo South Prospect

• Virgin discovery - prominent surface outcrop (only discovered during drillingoutcrop (only discovered during drilling program)

• Surface sample – high-grade coarseSurface sample high grade, coarse flake graphite (assay = 22.9% TGC)

• Drilling showed high-grade graphite g g g g poccurs to at least 100m below surface

• Good intersections reported in two pholes

Wilclo South – Resource Graphite Drilling Program February 2013February 2013

• Completed 77 RC holes totalling 7307m over a strike length of 1.4km

• Significant intercepts include 12m @ 17.3% TGC, 15m @ 16.3% TGC and 10m @ 24.4% TGC (note: down hole length true width unknown)down hole length, true width unknown).

• Drilling showed multiple graphite horizons –relatively shallow dip (~30-40o).

• Impressive high-grade graphite up to 45% TGC reported over one metre.

Wilclo South JORC Resource• Total combined JORC Inferred Mineral

Resource:6.38 Mt grading 8.8% TGC550,000 tonnes of contained graphite(5% TGC t ff)(5% TGC cut-off)

• High-grade component:1.75 Mt @ 12.5% TGC*@(10% TGC cut-off)

• Wilclo South resource extends 1.4km withf rther potential along strike and at depthfurther potential along strike and at depth.

Information in this presentation that relates to MineralpResources was compiled by Ms Sharron Sylvester, who is aMember of the Australian Institute of Geoscientists (RPGeo10125). Ms Sylvester is a full-time employee of AMCConsultants Pty Ltd and has sufficient experience relevant tothe styles of mineralisation and to the activities which arethe styles of mineralisation and to the activities which arebeing reported to qualify as a Competent Person as definedby the JORC Code, 2012 and consents to the release of theinformation compiled in this report in the form and context inwhich it appears.

Wilclo South – Geophysical Methods (Zonge)

Waddikee Graphite Project – Regional Potential

Francis ProspectFrancis Prospect

• Best results* from the Francis prospect include:

• 15m @ 20.7% TGC (WG118 14-29m)• 12m @ 21.9% TGC (WG121 60-72m)• 3m @ 22.2% TGC (WG119 36-39m)

2 @ 25 1% TGC (WG120 51 53 )• 2m @ 25.1% TGC (WG120 51-53m)

(*Note: all lengths are downhole lengths; true width unknown; TGC = total graphitic

b )carbon).

• Extensive strike-length of interpreted graphite horizon on Project area awaits drill testingdrill testing.

Options Moving Forward

Waddikee Graphite Project

Options Moving Forward

1. Further Development

Metallurgical and beneficiation testing of drill hole samples from Wilclo South - to characterise potential product for off-take discussions and marketing.

Detailed geophysics and follow-up drilling at Francis prospect to identify satellite deposit.

Resource definition at Francis to increase global mineralResource definition at Francis to increase global mineral resource for Waddikee Project.

Marketing studies based on results from metallurgical testing.testing.

Scoping study.

2. Joint Venture

3. Outright Sale of Project

Monax Mining – Project Overview

Monax MiningF d hit th G l C t

AntofagastaFocus on copper in S A Focus on copper and graphite on the Gawler CratonFocus on copper in S.A.

MonaxJV projects

Monaxprojects

Monax earning in projects

Monax | Antofagasta Allianceproject generation

Punt Hill (Antofagasta) Reedy Lagoon (FMG)Designated Projects

WaddikeeAlgebuckina(AMSA 51% | Monax 49%)

Phar Lap

WGC

Millers Creek

Webling BayPotential projectpathway

Kangaroo Island

MusgravesRed = copper Black = graphiteBlue = nickel/copper

Punt Hill Copper‐Gold Project

Monax’s Flagship Project

• Located within Olympic Iron-Oxide Copper-Gold Province.

P i h t j d it t Ol i D• Province hosts major copper deposits at Olympic Dam, Prominent Hill, Carrapateena and Hillside.

• Premier IOCG province in Australia which attracts large lti ti l i (BHP Billit Ri Ti t dmulti-national companies (BHP Billiton, Rio Tinto and

Antofagasta) and is tightly held.

• Target – large (>200Mt), high-grade (>1% Cu) deposit .

• Persistence is required to discover major ore deposits on the Gawler Craton.

I t f th Ol i IOCG P i hi hli ht d b• Importance of the Olympic IOCG Province highlighted by the three discoveries within last decade.

• Monax signed a significant Farm-In Agreement with a wholly d b idi f Chil j A t f t l iowned subsidiary of Chilean major, Antofagasta plc, in

September 2010

Punt Hill – Farm‐In Agreement

fFarm-In Agreement with Antofagasta plc

• Antofagasta spending US$4 million on exploration to earn 51% interest in Punt Hill p(Phase 1).

• Antofagasta has an option to fund a further US$5 illi l ti tUS$5 million on exploration to earn an additional 19% interest in the project (70% total interest) (Phase 2).

• Drilling programs completed in 2011 & 2012.

• Antofagasta has expended ~US$3.9 million on the project to dateon the project to date.

• Monax has identified further targets for drilling.g

• Further drilling will trigger Phase 2.

• Geophysical/geological review has

Punt Hill – Current position

• Geophysical/geological review has highlighted additional drilling targets.

• Three targets approved for drilling at recent Technical Committee meeting – awaiting approval for funding by Antofagasta.

• Funding approval and subsequent drilling willKhamsin

• Funding approval and subsequent drilling will trigger Punt Hill Joint Venture under Agreement with Antofagasta.

Carrapateena

• ASX-listed OZ Minerals continues to report good results from its Khamsin prospect (recent intersection of 662m @ 0.57% Cu & 0 09 g/t Au from 888m in hole DD13KMS0110.09 g/t Au from 888m in hole DD13KMS011 – down hole length, true width unknown).

New Targets

Image: Bouguer Gravity

Monax|Antofagasta Strategic AllianceMonax | Antofagasta Strategic Alliance| g g

• In August 2011, Monax signed a Strategic Alliance with a wholly owned subsidiary of Antofagasta plc for copper projectAntofagasta plc, for copper project generation within South Australia.

• Antofagasta committed US$1 million over gtwo years.

• Antofagasta has approved 3rd year of funding (@$US 400 000)(@$US 400,000).

• Antofagasta to fund “Designated Projects” –US$4 million over three years to earn 70% interest in project.

• One Designated Project – Millers Creek

• Two current Alliance Project areas1.Musgrave Province2.Kangaroo Island

(Note: these 2 projects are at an early stage and may not become Designated Projects)

Summary

• Monax outlined JORC Inferred Mineral Resource for Wilclo South Graphite Deposit in 2013.

R f bl ith th d it• Resource compares favourably with other deposits on Eyre Peninsula.

• Monax evaluating all options to maximise the g pvalue of the Project.

• Monax supported by Chilean copper producer Antofagasta for P nt Hill Strategic Alliance andAntofagasta for Punt Hill, Strategic Alliance and future Designated Projects focused on large IOCG targets.

• Monax’s main focus for 2014 will be working on its Antofagasta funded projects.

Thank YouThank You

Gary Ferris

Managing Director

P ( ) 4 4P (08) 8245 4900

M 0423 259 488

E: gferris@monaxmining.com.auE: gferris@monaxmining.com.au