For personal use only. Mining the Territory. Korab Resources Limited NT RESOURCES WEEK ASX: KOR. Andrej K. Karpinski Executive Chairman

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1 Korab Resources Limited Mining the Territory NT WEEK Andrej K. Karpinski Executive Chairman

2 Diversified International Minerals Company Precious metals, agricultural and industrial commodities Magnesium carbonate development project in the Northern Territory (Winchester) Phosphate rock quarry in the Northern Territory (Geolsec) Polymetallic exploration project in the Northern Territory (Batchelor) Copper and gold exploration project in Western Australia (Mt. Elephant /Ashburton Downs) Gold and silver mine in Ukraine (Bobrikovo) 1

3 Magnesium Carbonate (Winchester) Large deposit of high grade magnesium carbonate rock Located 80km south of Darwin Local infrastructure includes water, power, gas, roads, rail, accommodation Granted mineral lease Low environmental footprint and impact Low CAPEX High return 2

4 3 Winchester Economics CAPEX of ~$4 Mln (including $1 Mln contingency) EBITDA of $395 Mln EBITDA (in AU$ '000) Sensitivity to magnesite selling price at US$0.82 exchange rate Year/Volume Mag price YEAR YEAR YEAR YEAR YEARS TOTAL US$50/T 897 3,508 10,642 10, , ,526 US$60/T 2,676 7,067 17,760 18, , ,366 US$70/T 4,456 10,626 24,879 25, , ,206 US$80/T 6,235 14,185 31,997 32, , ,046 US$90/T 8,015 17,744 39,115 39, , ,886 US$100/T 9,794 21,303 46,233 46, , ,727 US$110/T 11,574 24,862 53,351 53, , ,567 This EBITDA was first disclosed in report covering production plan and economics of the project released in There have been no changes since the release of the original report to the assumptions underpinning the results of this economic assessment.

5 Winchester Status Granted mining lease Test mining complemented Metallurgical, crushing and calcining studies completed Initial off take for raw magnesium carbonate secured Conditional funding secured Commenced work on permitting 4

6 Winchester test mining 5

7 Magnesium carbonate markets Key established markets Refractories - steel, cement, glass, energy, chemicals Flame retardants Buildings - mag wall, MgO board, mag cement, geopolymers Magnesium alloys cars, airplanes, tanks, APC-s Hydrometallurgy nickel/cobalt production Water purification Key new high-growth markets Magnesium-ion batteries Magnesium-diboride superconductors MRI scanners, high power electric motors for naval propulsion 6

8 Location of Winchester 7

9 Geolsec phosphate Located near Batchelor Potential low cost rock producer Actively marketing rock to overseas and domestic buyers Market for rock phosphate in oversupply Operations of Geolsec currently under review 8

10 Sundance gold mine 9

11 Sundance mining options 10

12 Sundance mining option 11

13 Sundance location 12

14 Batchelor polymetallic project Large 170km 2 exploration licence + 50km 2 exploration application Located near Batchelor with good road access Multiple gold, silver, zinc, lead, copper, nickel and cobalt prospects with 20 km long corridor Adjoins Winchester magnesium carbonate project and Sundance gold mine 13

15 Batchelor prospects 14

16 Batchelor geology 15

17 Mt. Elephant/Ashburton project Large exploration project located in a mostly unexplored part of northern WA south of Paraburdoo Multiple copper and gold prospects proximal to a crustal scale fault, coincident with high grade copper and gold rock chip and soil samples, EM anomalies and outcropping gossans 16 Excellent exploration potential

18 Bobrikovo gold and silver mine BOBRIKOVO Historic mining region with very good infrastructure and highly skilled workforce 3.3 million ounces Au JORC resource with significant potential to further build resource inventory Fresh rock mineralisation open at depth and along strike 17

19 Appendix 1 Winchester resource At 40% MgO Cut-Off MgCO Mass MgO grade 000 Tonnes % Indicated Resources 12, Inferred Resources 4, Total 16, There has been no change to the Winchester mineral resource estimate since it was last reported in the Annual Report This information was prepared and first disclosed under the JORC Code 2004 on 17 July It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. The author of this report is not aware of any new information or data that materially affects the information included in the report released on 17 July 2007 and, in the case of mineral resources that all the material assumptions and technical parameters underpinning the estimates in the report released on 17 July 2007 continue to apply and have not materially changed. The form and context in which the findings of the report released on 17 July 2007 are presented have not been materially modified. 18

20 Important Information This presentation has been prepared by Korab Resources Limited ( Korab or the Company ). It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Korab and consult with their own legal, tax, business and/or financial advisers in connection with any acquisition of securities. The information contained in this presentation has been prepared in good faith, however, no representation or warranty, express or implied, is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information contained in this presentation. It is believed that the expectations reflected in these statements and opinions are reasonable but may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, production results, reserve estimates, environmental risks, physical risks, legislative, fiscal regulatory developments, economic and financial market conditions in various countries and regions, political risks, project approvals delays and cost estimates. To the maximum extent permitted by law, Korab, its directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person through the use of, or reliance on, anything contained in or omitted from this presentation. Certain information in this presentation refers to the intentions of the Company, but these are not intended to be forecasts, forward looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and other factors that may cause actual results, performance, or achievements to differ from those referred to in this presentation. The presentation contains only a synopsis of more detailed information published in relation to the matters described in this document and accordingly no reliance may be placed for any purpose whatsoever on the sufficiency or completeness of such information and to do so could potentially expose you to a significant risk of financial loss or incurring by you of additional liability. Recipients of this presentation should conduct their own investigation, evaluation and analysis of the information presented in this document. In particular any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and you should satisfy yourself in relation to such matters. The mining equipment featured in this presentation is not the property of the Company. The information in this presentation that relates to the exploration results or to the Mineral Resources underpinning the pre-feasibility study referred to in this presentation is based on information compiled by the Company and reviewed by Malcolm Castle, a competent person who is a Member of the Australasian Institute of Mining and Metallurgy ( AusIMM ). Malcolm Castle is a consultant geologist employed by Agricola Mining Consultants Pty Ltd. Mr Castle has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken 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 ( JORC Code ). Malcolm Castle consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. This information was prepared and first disclosed under the JORC Code It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. 19