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Presented byChris Drown, Managing Director

Presented byChris Drown, Managing Director

Investor PresentationMoonta Copper-Gold Project

Investor PresentationMoonta Copper-Gold Project

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The information in this presentation is published to inform you about Adelaide Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice.

To the extent permitted by law, Adelaide Resources Limited accepts no responsibility or liability for any losses or damages of any kind arising out of the use of any information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions.

The information in this presentation is published to inform you about Adelaide Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice.

To the extent permitted by law, Adelaide Resources Limited accepts no responsibility or liability for any losses or damages of any kind arising out of the use of any information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions.

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Chris Drown, who is a Member of The Australasian Institute of Mining and Metallurgy and who consults to Adelaide Resources Limited on a full time basis. Mr Drown has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify 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 Drown consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Chris Drown, who is a Member of The Australasian Institute of Mining and Metallurgy and who consults to Adelaide Resources Limited on a full time basis. Mr Drown has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify 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 Drown consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

Disclaimer and Competent Person’s StatementDisclaimer and Competent Person’s Statement

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Moonta Project – locationMoonta Project – location

Following slides set the scene.Following slides set the scene.

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Olympic Copper Gold ProvinceLEGEND

Adelaide ResourcesAntofagastaArevaBHPBFMGOz MineralsRexRio TintoSandfireStraitsUranium OneXstrataOther

200 kilometres

Olympic Copper-Gold Province – operating companiesOlympic Copper-Gold Province – operating companies

Even SpencerGulf is pegged!!

Even SpencerGulf is pegged!!

All land in the OCGP where

exploration is allowed is

pegged.

All land in the OCGP where

exploration is allowed is

pegged.

Major companies and copper producers dominate.

Major companies and copper producers dominate.

(non OCGP tenements not shown)

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OCGP – depth to prospective basementOCGP – depth to prospective basement

The Yorke Peninsula in general, and the Moonta Project in particular, has the shallowest cover anywhere along the entire Olympic Copper Gold Province.

The Yorke Peninsula in general, and the Moonta Project in particular, has the shallowest cover anywhere along the entire Olympic Copper Gold Province. Olympic Dam

(330m)

Challenger

Prominent Hill (100m)

MOONTAPROJECT

(mostly < 10m)

Olympic Copper-Gold

Province

(470m)

Hillside (~30-70m)Copper/

depositGold

200 kilometres

Vulcan (900m)

Punt Hill(~700m)

A

B

Carrapateena

1000

800

600

400

200

Prominent HillVulcan

OlympicDam Carrapateena

Punt HillSpencer

Gulf

MOONTAPROJECT

Hillside

Dept

hbe

low

s urfa

c e(m

etre

s)

A B

Cover

Prospective basement

{

Schematic section

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“To the Colony of South Australia, copper was like a huge flywheel, generating wealth and activity.” (Blainey – The Rush that Never Ended)

Moonta was the first mine in Australia to pay a million in dividends.

“To the Colony of South Australia, copper was like a huge flywheel, generating wealth and activity.” (Blainey – The Rush that Never Ended)

Moonta was the first mine in Australia to pay a million in dividends.

Olympic Dam

Prominent Hill

Olympic Copper-Gold

Province

Moonta-Wallaroo

Past & presentCopper mines

200 kilometres

OCGP – past and present copper minesOCGP – past and present copper mines

1915 Richmans Enginehouse, Moonta

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Yorke Peninsula – operating companiesYorke Peninsula – operating companies

Adelaide Resources

ArevaCoreInvestigatorMonax – Marmota

Phoenix CopperRexSandfire

SpencerXstrataOther

Olympic Copper Gold ProvinceLEGEND

80 kilometres

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Moonta Project exploration history timelineMoonta Project exploration history timeline

Historical exploration at Moonta was dominated by mid caps and majors which needed to find very large resources. This presents Adelaide Resources with a valuable historical database and a scale opportunity. The opportunity is significantly enhanced by improved copper prices since the mid 2000’s.

Historical exploration at Moonta was dominated by mid caps and majors which needed to find very large resources. This presents Adelaide Resources with a valuable historical database and a scale opportunity. The opportunity is significantly enhanced by improved copper prices since the mid 2000’s.

Copper PriceCopper Price

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Historic data – a hugely valuable assetHistoric data – a hugely valuable asset

Past explorers bequeathed an enormous amount of data. In 2013 dollars, this data is valued in the tens of millions.

Past explorers bequeathed an enormous amount of data. In 2013 dollars, this data is valued in the tens of millions.

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Moonta Project scene setting key pointsMoonta Project scene setting key points

• Located in the Olympic Copper Gold Province, a region thatis totally pegged and where ownership is dominated by manyof the World’s largest copper producers.

• Located in the Olympic Copper Gold Province, a region thatis totally pegged and where ownership is dominated by manyof the World’s largest copper producers.

• Our tenement is in the area where the prospective rocks are attheir shallowest, allowing much more cost efficient explorationand the application of a broader range of search methods.

• Our tenement is in the area where the prospective rocks are attheir shallowest, allowing much more cost efficient explorationand the application of a broader range of search methods.

• The history of exploration on the Moonta Project is one dominated by large companies, presenting AdelaideResources with both an extremely valuable historical dataset and a significant scale opportunity.

• The history of exploration on the Moonta Project is one dominated by large companies, presenting AdelaideResources with both an extremely valuable historical dataset and a significant scale opportunity.

• Our advantage is magnified by historically good copper prices.• Our advantage is magnified by historically good copper prices.

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How we see Moonta unfoldingHow we see Moonta unfolding

• It is clear that our Moonta project has exceptional and widespread prospectivity for shallow copper-gold deposits.

• It is clear that our Moonta project has exceptional and widespread prospectivity for shallow copper-gold deposits.

• We are confident that we can build a project-wide resourcebase, based upon the definition of multiple deposits located within a few kilometres of each other.

• We are confident that we can build a project-wide resourcebase, based upon the definition of multiple deposits located within a few kilometres of each other.

• A mineral inventory is now starting to emerge with theWillamulka and Paskeville discoveries, promising resultsfrom Wombat and Copper Hill, and the “rediscovery” of historical prospects like Alford West.

• A mineral inventory is now starting to emerge with theWillamulka and Paskeville discoveries, promising resultsfrom Wombat and Copper Hill, and the “rediscovery” of historical prospects like Alford West.

• We need to be persistent. Moonta is not about the next hole orthe next drill program, its about the next ten drill programs.

• We need to be persistent. Moonta is not about the next hole orthe next drill program, its about the next ten drill programs.

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Moonta Project – location showing deposits and prospectsMoonta Project – location showing deposits and prospects

The following slides take a quick look at each of the 100% owned Willamulka, Paskeville, Wombat and Alford West prospects.The following slides take a quick look at each of the 100% owned Willamulka, Paskeville, Wombat and Alford West prospects.

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Willamulka Prospect – planWillamulka Prospect – plan

Shallow 550 metre long coherent zone of copper and gold mineralisation open at depth.

Shallow 550 metre long coherent zone of copper and gold mineralisation open at depth.

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Willamulka Prospect – sectionWillamulka Prospect – section

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Paskeville Prospect – planPaskeville Prospect – plan

Shallow 300 metre long coherent zone of copper dominant mineralisation open at depth and along strike.Shallow 300 metre long coherent zone of copper dominant mineralisation open at depth and along strike.

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Paskeville Prospect – sectionPaskeville Prospect – section

Recent drilling completed to test satellite targets and gather more information on the strike and dip of mineralisation. Assays awaited.

Recent drilling completed to test satellite targets and gather more information on the strike and dip of mineralisation. Assays awaited.

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Wombat Prospect – planWombat Prospect – plan

Drilling suggests a strike length of at least 300 metres, a vertical extent of at least 300 metres and a true width of up to 35 metres. Open in several directions.

Drilling suggests a strike length of at least 300 metres, a vertical extent of at least 300 metres and a true width of up to 35 metres. Open in several directions.

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Wombat Prospect – sectionWombat Prospect – section

Recent drilling completed to determine if attractive grades persist to shallow depths. Assays awaited.

Recent drilling completed to determine if attractive grades persist to shallow depths. Assays awaited.

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Historic data – searching for “buried treasure”.Historic data – searching for “buried treasure”.

This says page 5,187 of 23,841!!This says page 5,187 of 23,841!!

Copper assays to 4.45%Cu

Copper assays to 4.45%Cu

WMC Hole DDH224 from Alford West.WMC Hole DDH224 from Alford West.

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Alford West – planAlford West – plan

Significant historical results. Recent drilling completed to initially relocate mineralisation and then to start to establish dimensions and grade.Significant historical results. Recent drilling completed to initially relocate mineralisation and then to start to establish dimensions and grade.

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Alford West – section (drawn from historical results)Alford West – section (drawn from historical results)

Green copper carbonates in recent drill hole suggests we have successfully relocated Alford West. Assays awaited.

Green copper carbonates in recent drill hole suggests we have successfully relocated Alford West. Assays awaited.

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Moonta Exploration TriangleMoonta Exploration Triangle

Goal is to progress prospects to higher levels and to higher quality.

Goal is to progress prospects to higher levels and to higher quality.

Willamulka, Paskeville etc. just part of the story. We have numerous other targets establishing a strongexploration pipeline.

Willamulka, Paskeville etc. just part of the story. We have numerous other targets establishing a strongexploration pipeline.

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Moonta Project ChallengesMoonta Project Challenges

• The project is on good quality agricultural land and is coveredby numerous farms. Access issues are therefore moresignificant than in the outback.

• The project is on good quality agricultural land and is coveredby numerous farms. Access issues are therefore moresignificant than in the outback.

• Digitising the historical exploration data is a mammothundertaking. It is exceptional value for money, but it will takemany months to complete.

• Digitising the historical exploration data is a mammothundertaking. It is exceptional value for money, but it will takemany months to complete.

• While shallow deposits are cheaper to find and mine, theyhave their downside. Mineralisation hosted in weathered rockcan be metallurgically challenging due to oxidation.

• While shallow deposits are cheaper to find and mine, theyhave their downside. Mineralisation hosted in weathered rockcan be metallurgically challenging due to oxidation.

• With many promising targets to test, we need a buoyantmarket that will support a persistent exploration effort toachieve success.

• With many promising targets to test, we need a buoyantmarket that will support a persistent exploration effort toachieve success.

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Moonta Project wrap-upMoonta Project wrap-up

• Great ground holding centred on historical mining camp inhighly pedigreed Olympic Copper Gold Province.

• Great ground holding centred on historical mining camp inhighly pedigreed Olympic Copper Gold Province.

• History of exploration delivers Adelaide Resources significant scale opportunity and immensely valuable data.

• History of exploration delivers Adelaide Resources significant scale opportunity and immensely valuable data.

• Opportunity enhanced by improved copper prices. • Opportunity enhanced by improved copper prices.

• Establishment of project-wide resource base is feasible. Mineral inventory is now starting to emerge.

• Establishment of project-wide resource base is feasible. Mineral inventory is now starting to emerge.

• Strong pipeline of future opportunities, with most targets100% owned.

• Strong pipeline of future opportunities, with most targets100% owned.

• Persistent effort will be rewarded.• Persistent effort will be rewarded.

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Moonta Project forward focusMoonta Project forward focus

• Receipt and interpretation of results from recently completeddrilling programs at Paskeville, Wombat and Alford West.

• Receipt and interpretation of results from recently completeddrilling programs at Paskeville, Wombat and Alford West.

• Modelling and resource estimation for advanced prospectsto begin building project wide mineral inventory.

• Modelling and resource estimation for advanced prospectsto begin building project wide mineral inventory.

• Digitisation of historical exploration data to highlight additionalopportunities that could add to our mineral inventory or ourprospect pipeline.

• Digitisation of historical exploration data to highlight additionalopportunities that could add to our mineral inventory or ourprospect pipeline.

• Further, drill dominated exploration to grow resource position.• Further, drill dominated exploration to grow resource position.

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Appendix:Company Information

Appendix:Company Information

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Adelaide Resources’ BusinessAdelaide Resources’ Business

• We are a South Australian based mineral explorer with atight commodity focus on copper and gold.

• We have projects in SA, NT and QLD in terrains with pedigrees that can deliver “company maker” discoveries.

• The vast majority of our ground holdings are 100% owned.

• We spend the majority of our funds on drilling, with someexcellent intersections achieved during the last four years.

• The Moonta Copper-Gold Project on South Australia’s YorkePeninsula is our flagship project

• We are a South Australian based mineral explorer with atight commodity focus on copper and gold.

• We have projects in SA, NT and QLD in terrains with pedigrees that can deliver “company maker” discoveries.

• The vast majority of our ground holdings are 100% owned.

• We spend the majority of our funds on drilling, with someexcellent intersections achieved during the last four years.

• The Moonta Copper-Gold Project on South Australia’s YorkePeninsula is our flagship project

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• Listed on ASX in 1996 (ADN)

• Shares issued ~189 million

• Unlisted securities ~3.2 million

• Cash $3.0 million at 31 December

• Shareholders 2220

• Top 20 hold 38.6%

• Major holder Loftus Lane/Stiletto Invest. 7.7%

• 12 month trading 3.5 to 11.5 cents

• Market cap $7.6M (4.0 cents)

• Listed on ASX in 1996 (ADN)

• Shares issued ~189 million

• Unlisted securities ~3.2 million

• Cash $3.0 million at 31 December

• Shareholders 2220

• Top 20 hold 38.6%

• Major holder Loftus Lane/Stiletto Invest. 7.7%

• 12 month trading 3.5 to 11.5 cents

• Market cap $7.6M (4.0 cents)

Corporate statisticsCorporate statistics

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The BoardThe BoardAndrew Brown – Fund Manager

Non-executive Chairman30+ years experience

Chris Drown – GeologistManaging Director25+ years experience

John Horan – AccountantNon-executive Director 40+ years experience

John den Dryver – Mining EngineerNon-executive Director 30+ years experience

Mike Hatcher – GeologistNon-executive Director40+ years experience

Andrew Brown – Fund ManagerNon-executive Chairman30+ years experience

Chris Drown – GeologistManaging Director25+ years experience

John Horan – AccountantNon-executive Director 40+ years experience

John den Dryver – Mining EngineerNon-executive Director 30+ years experience

Mike Hatcher – GeologistNon-executive Director40+ years experience

Nick Harding – Accountant Company Secretary/CFO25+ years experience

Mark Manly – GeologistExploration Manager 25+ years experience

Nick Harding – Accountant Company Secretary/CFO25+ years experience

Mark Manly – GeologistExploration Manager 25+ years experience

A professional team with years of industry experienceA professional team with years of industry experience

Senior ManagementSenior Management

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Annual exploration and administration spendAnnual exploration and administration spend

The vast majority of the exploration spend goes on drilling and the admin/exploration ratio is low.The vast majority of the exploration spend goes on drilling and the admin/exploration ratio is low.

10/11

09/10

08/09

07/08

06/07

05/06

04/05

02/03

01/02

00/01

99/00

97/98

100003/0

4

98/99

0

3000

4000

2000

$‘00

0 s

5000 Joint VentureAdelaide Resources

Exploration funding

Administration

11/12

6000

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Project locationsProject locations

NorthernTerritory

SouthAustralia

Victoria

ROVERGold/Copper

MOONTACopper/Gold

ANABAMA

Copper/Gold

DRUMMONDGold

Queensland

EYRE PENINSULA

Gold/Copper

YALANDAGold/Uranium

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adelaideresources.com.auadelaideresources.com.au