TOLEDO MINING : INVESTOR UPDATE June 2010

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Disclaimer

The information contained in this presentation (“Presentation”) is confidential to Toledo Mining Corporation PLC (“Toledo” or “the Company”). It is not intended for and should not be distributed to any other person other then as permitted herein. By viewing this Presentation, the Recipient agrees that he/she will not transmit, reproduce or make available the Presentation (or any information contained herein) to anyone other than to his/her professional advisers without the prior consent of Toledo. Any such disclosure to the advisers of the Recipient must be on a confidential basis, for the purpose only of assessing the information contained herein as adviser to the Recipient.

This Presentation has been prepared as a summary only and does not contain all information about the Company’s assets and liabilities, financial position and performance, profits and losses, prospects and rights and liabilities. The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on behalf of Toledo and its directors, officers, employees, advisers, agents or consultants (“Information”) is provided to the Recipients on the terms and conditions set out in this notice. The purpose of this Presentation is to provide Recipients with Information relating to Toledo. The Presentation has been prepared by Toledo and each Recipient must make his/her own independent assessment and investigation of Toledo and its business and assets and should not rely on any statement or the adequacy and accuracy of any Information contained in this Presentation.

Toledo makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the Information. Toledo and its directors, employees, agents or consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or any omissions from the Presentation, except liability under statute that cannot be excluded.

The Presentation contains reference to certain intentions, expectations and plans of Toledo. These intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may or may not be met or on which views may differ. The performance and operations of Toledo may be influenced by a number of factors, many of which are outside the control of Toledo. No representation or warranty, express or implied, is made by Toledo any of its directors, officers, employees, advisers, agents or consultants that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. This Presentation does not constitute in any way an offer or invitation to subscribe for securities in Toledo.

The technical information contained in this presentation has been reviewed and approved by Mr Tim Ashworth. Mr Ashworth 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 Qualified Person under the AIM Note for Mining, Oil and Gas Companies. Mr Ashworth holds the position of General Manager, Philippines, Toledo Mining Corporation. Mr Ashworth consents to the inclusion of his name in this presentation in the form and context in which it appears.

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Fundamentals

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Ticker TMC.L

M/Cap £10m

Share Price 24p

ISC 41.54m

Options 0.79m

Fully Diluted 42.35m

Cash £3.55M

TMM Management Inc, Manila, Philippines Chief Operating Officer General Manager – Projects Manager: Resources & Technical Services Environmental Consulting Manager Chief Accountant

Ken Stein Rufo Cabanlig Ramon Flores Dr Keith Halford Marissa Nicdao

Major Shareholders

Daintree Resources Limited 24.01%

Fevamotinico SARL 9.77%

European Nickel PLC 7.68%

Exploration Capital Partners 4.81%

Union Bancaire Privee 4.09%

Alfred Ramos 3.13%

Baker Steel 2.95%

Chairman Reg Eccles

Non Executive Directors Felix Pole

Simon Purkiss

Constantine Thanassoulas

Jason Cheng

Board

  Toledo Mining is focused on nickel laterites in the Philippines

  Large, nickel resource base in 4 deposits on Palawan Island

  Focused on ‘value add’ downstream processing

  Supportive major shareholders

Overview

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Sumitomo’s Coral Bay

(TMC interest 52%)

TMC interest 56.1%

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  Maintain Toledo’s substantial asset base and good standing with local partners and government

  Negotiate binding agreements with third party investors and consumers for value added processing

  Be ready to resume economic direct ore shipping (DOS) operations to satisfy demand

  Ongoing drive to reduce operating and overhead expenses

Strategy

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  Proximity to Asian markets

  2004 marked clarity and legal certainty with the Mining Act

  2004 Minerals Action Plan

  2005 formation of the Minerals Development Council

  Foreign direct ownership of projects currently restricted to 40% of mining operations and investments of less than US$50 million, but no limit on economic ownership

  Palawan Island is stable & has history of mining and beneficiation, e.g. Sumitomo’s Coral Bay nickel laterite HPAL plant

  Successful election of new President Noynoy Aquino, who is pro-mining

The Philippines

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Berong Nickel Corporation (BNC)

  Current JORC resource of 10Mt @1.55% Ni (155,000t contained Ni) sufficient to supply DOS operation for 15 years

  Exploration programme underway to prove up additional 30Mt – 40Mt resource required to support 20,000tpa nickel processing operation

  DOS: suspended in 2009 due to market conditions, actively seeking long term contracts

  Mining can recommence at short notice

  Ongoing discussions with potential strategic partners

  Metallurgical test work has confirmed Berong ore highly amenable to leaching process

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Berong Exploration Programme

•  Exploration programme targeting increase in JORC resource to 40Mt •  Programme commenced late 2009, anticipated completion Q4 2010 •  20,000m drill programme with 6 rigs on site & mobilised •  Resource Upgrade due Q1 2011 •  Drilling commenced in Parcel 4, the largest of 6 parcels granted under

the Exploration Permit

•  Infill drilling in existing pit area: 54 holes drilled, possibility to drill more holes once interpretation of 54 holes completed – this is expected to increase the current reserve tonnage

  Long Point drilling to commence once Local Government (LG) approval is received, which is anticipated Q3 2010

  Dangla drilling to commence once LG approval is received, which is anticipated Q4 2010

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As at 5 June 2010

EXPLORATION UPDATE

Particulars (Feb) (March) (April) (May) (June) YTD

Meterage

1. LVP 189.50 897.90 0.00 157.25 155.60 1400.25

2. Parcel 4 0.00 1276.25 1361.30 1155.60 123.90 3917.05

3. Parcel 3 0.00 0.00 0.00 0.00 3.00 3.00

TOTAL 5317.30

No of DH Completed

1. LVP 8.00 46.00 0.00 14.00 13.00 81.00

2. Parcel 4 0.00 130.00 165.00 137.00 18.00 450.00

3. Parcel 3 0.00 0.00 0.00 0.00 0.00 0.00

TOTAL 531.00

Current Berong Exploration Drilling Programme

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Results to Date From Parcel 4

Assay results received to date

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< =1.0

<=1.3

<= 1.6

<= 1.9

<= 2.2

>2.2

In Pit Drilling

  In pit drilling was performed in preparation for production recommencement   54 holes drilled

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Old exploration holes finishing in good grade

Some new drilling has confirmed profile depth

Some has shown significant increase in profile depth

8m @ 2.37% Ni

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EXAMPLE CROSS SECTION OF IN-PIT DRILLING

Old exploration holes

New Drilling

New Drilling – 17m thick Old interpretation 7m thick

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EXAMPLE CROSS SECTION OF IN-PIT DRILLING

New Drilling has confirmed the profile in the thicker areas

And also show a lot deeper profile in the thin areas

18m @ 2.14%Ni 24m @ 1.90% Ni

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EXAMPLE CROSS SECTION OF IN-PIT DRILLING

Ipilan Nickel Corp (INC)

  Current JORC resource: 30.6Mt @ av. grade 1.36% Ni at a 1% grade cut-off (416,000t contained nickel)

  Sufficient to support long life mining and processing operation   Potential to increase the size of the resource

  Recently obtained crucial municipality endorsement for a mining operation   This, along with endorsement of the four local

councils (barangay) demonstrates community support for the project

  Final step in permitting is the endorsement of the Palawan Provincial government and the Palawan Council for Sustainable Development

  DOS operation could commence in 2011 if warranted by market conditions

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Sumitomo’s Coral Bay

The DOS Market

  Chinese imports of nickel ore recovered in early 2010 BUT import demand now for 2 product groups:   Iron substitute: high iron(>40%) / low nickel (<1%)   Ferrous nickel production: high nickel (>2+%)

  Prices for traditional product (+/-1.5% Ni, 30% Fe) remain weak

  BUT evidence Japanese demand beginning to exert upward price pressure

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Moving Forward

  Complete exploration programme at Berong

  Complete permitting process at Ipilan

  Actively pursue DOS contracts - currently in negotiations with 2 major nickel producers for long term nickel ore supply

  Reinvigorate discussions with strategic partners regarding value adding

  European Nickel, now merger with Rusina completed

  JXTC, now involved with financially strong partner Chinalco

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