This presentation has taken information from the Study Report on the Amazon Bay Ironsands Project compiled forFoyson Resources Ltd by Engenium Pty Ltd (Engenium) as an independent consultant. It is based in part uponinformation furnished by Foyson Resources Ltd, specialist consultants, contract service operators, vendors ofequipment and Engenium’s engineering and project personnel.The information is intended to be utilised by Foyson Resources Ltd and its contents have not been audited byEngenium or any other third party.Engenium also point out that the utilisation of the term “ore” throughout the presentation is intended to be used in adescriptive manner only and the term does not indicate any inferred or intended compliance with the definition of “ore”in the JORC Code.This presentation may also include technical, economic or other assumptions made by Engenium during the executionof the works which may ultimately not be attained. Engenium makes no representation or any warranty as to theaccuracy of those assumptions nor any results or estimates that may have resulted there from.

The information in this presentation that relates to Exploration Results is based on information compiled by aconsultant to the Company, Mr Chris Young, who is a Member of the Australasian Institute of Mining & Metallurgy anda Member of the Australian Institute of Geoscientists.Mr Young has over 40 years’ experience in the industry and has more than 5 years’ experience which is relevant to thestyle of mineralisation being reported on, to qualify as a Competent Person, as defined in the “Australasian Code ofReporting of Exploration Results, Mineral Resources and Ore Reserves”.Mr Young consents to the inclusion of this information in this presentation.

Disclaimers

What is the Product?

� Amazon Bay is a mineral exploration target of vanadiferous titano-magnetite sands spanning over 200 km of the southern PNG coastline.

� The concentrate product will be similar to BlueScope Steel’s iron sand on the North Island of New Zealand and Amex’s Mba Delta iron sand project in Fiji.

� BlueScope has been in production for greater than 25 years.� Amex has progressed its Project into an implementation phase.� There is increasing demand for iron sands for use in steel making.

Project Location

Project Resource

• The Exploration Target has been assessed as between 500million tonnes and 750 million tonnes in the Threadfin area on EL 1396.

• Shallow bulk samples have been taken from this area and at Barracouta near the village of Margarida.

• The metallurgical work used in this Study is an average of the results obtained.

Metallurgical Test Work

Feed Type Type of Test Performed Mass Yield%

Fe Grade%

TiO2%

V2O5%

HMC 100 45.4 20.4 0.57

-425 µm with 45.4% Fe Pin Mill attrition followed by DTR primary magnetic separation @ 380 Gauss

66.1 47.2 19.18 0.77

Secondary DTR separation on primary non-mag @1700 Gauss

23.4 41.3 29.89 0.20

Primary magnetics from previous stage

Electrostatic separation at 25 kV & ambient temperature

38.6 48.7 23.02 0.69

Electrostatic separation at 25 kV & 85 C temperature

40.4 47.7 22.69 0.68

Reserve Silica Flotation Flotation using primary magnetics from previous steps

96.4 47.7 22.5 NA

Natural Sands Beneficiation Uses 2 stage dry magnetic separation, electrostatics, cyclone classification, fine spirals, milling and reserve silica flotation

45.6 47.3 20 NA

-425 µm HMC Screen @ 150 µm and grind to +150 µm, staged fine dry magnetic separation

45.6 49.2 19.1 0.92

Screen @ 150 µm and grind to +150 µm – 75 µm, staged fine wet magnetic separation

40.3 52.3 17.3 1.19

� Mass Yield– The mass yield of the HMC from the combined Threadfin / Barracouta

composite is calculated at 25.7%. The mass yield of the magneticconcentrate in the test work is reported at 40.3%. The product of thesubsequent mass yields provides the overall mass yield.

Metallurgical Test Work

Mass Yield

10.4%

� Engenium recently completed a Scoping Study on the Amazon Bay Project, concluding all works in September 2013.

� Engenium has recent experience in completing a BFS on the Amex Resources iron sands project in Fiji and applied many of the costs developed for that project to its Study on Amazon Bay.

� The Study assessed:– Project location and resource– Previous studies undertaken prior to Engenium’s work– Metallurgical Test Work– Process Methodology– Dredging (Mining)– Processing– Shipping– Infrastructure– Project financials– Comparison with other iron sands projects– Forward work program and overall Project timeline

Scoping Study

Process Methodology

Dredging (Mining)

Processing

� Push Tug Barge

Shipping

Shipping

� Floating Crane Transhipment

� Geared Supramax Transhipment

The Project requires the installation of new infrastructure, namely:� Administration area, stores and workshop� Laboratory� Construction of a 50 person accommodation camp� On site power generation via diesel fuelled generator sets� Waste water treatment plant� Fuel farm connected to a dedicated pipeline extending to the rock groyne

Infrastructure

� Next steps in development of Project:– Detailed PFS

� Undertake further analysis:– Mineral resource and metallurgy– Mining and Processing options– Logistics and shipping options– Environmental studies– Social mapping studies– Marketing opportunities – Investment models

– Definitive Feasibility Study– Implementation Phase

Forward Work Program

Project TimelinePhase Completion

Detailed Preliminary Feasibility Study Q4 2014

Definitive Feasibility Study Q4 2015

Implementation Phase Q1 2016

Environmental Approvals Q1 2016

Construction Works Q1 2016

First Ore Q4 2016