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Western Plains Resources Ltd South Australian South Australian Iron Ore Projects Iron Ore Projects Bob Duffin, Executive Chairman Bob Duffin, Executive Chairman Korea- -Australia Conference Australia Conference Korea 13 November 2008 13

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SLIDE 1

Western Plains Resources Ltd

South Australian South Australian Iron Ore Projects Iron Ore Projects

Bob Duffin, Executive Chairman Bob Duffin, Executive Chairman Korea Korea-

  • Australia Conference

Australia Conference 13 November 2008 13 November 2008

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SLIDE 2

November 10, 2008 2

Western Plains Resources 2 Korea-Australia Conference – 13 Nov 2008

IMPORTANT NOTICE

This presentation contains forward looking statements concerning the projects owned by WPG. Statements concerning mineral resources and

  • re reserves may also be deemed to be forward looking statements in

that they involve elements based on specific assumptions Forward looking statements are not statements of historical fact, and actual events or results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on WPG’s beliefs, opinions and estimates as of the date they are made and no

  • bligation is assumed to update forward looking statements if these

beliefs, opinions and estimates should change or reflect other future developments Data and amounts shown in this presentation relating to capital costs,

  • perating costs and project timelines are based on consultant reports,

contractor quotes and internally generated estimates Port user charges are assumptions but cannot be relied upon until port

  • perators finalise their own plans

WPG cannot guarantee the accuracy and/or completeness of the figures

  • r data in this presentation

All dollar amounts indicated in this presentation are in Australian dollars unless otherwise stated.

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SLIDE 3

November 10, 2008 3

Western Plains Resources 3 Korea-Australia Conference – 13 Nov 2008

Key Corporate Information

Directors:

– Bob Duffin (executive chairman) – Heath Roberts (executive) – Gary Jones (executive) – Bob Richardson (non executive) – Len Dean (non executive) – Dennis Mutton (non executive) – Lim See Yong (non executive)

Executives

– Martin Jacobsen (COO) – Greg Harding (CFO) – Myles Fang (Business Development - China) – Ian White (GM – Special Projects) – Larissa Brown (Assistant Secretary)

Cash: $4.2m (30 September) Directors control 26m voting shares plus

  • ptions

Good core group of top 50 shareholders Issued shares 80.8m Unlisted options 12.5m Fully diluted 93.3m Market capitalisation $37m (at $0.40/share)

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SLIDE 4

November 10, 2008 4

Western Plains Resources 4 Korea-Australia Conference – 13 Nov 2008

Our Iron Ore Projects

  • DSO: Peculiar Knob ML 6314 and

Buzzard and Tui (MC 3810) deposits at Hawks Nest

  • Magnetite: Kestrel (MC 3809) and

Goshawk, Harrier, Eagle, Kite and Falcon (EL 3196) at Hawks Nest

  • Peculiar Knob ML is 90 km S of Coober

Pedy, 30 km E of the Stuart Highway, 15 km NW of OZ Minerals’ Prominent Hill mine and 85 km E of the Adelaide- Darwin railway line

  • Hawks Nest tenement EL 3196 (within

which MCs 3809 and 3810 lie) is 115 km SSE of Coober Pedy, straddles Stuart Highway and is 45 km east of the railway line

  • It is approximately 600 km by rail from

Wirrida siding to Port Bonython, 800 km to Adelaide and 2,150 km to Darwin

  • Road/rail haulage from PK to Port

Bonython virtually identical to Portman’s Koolyanobbing - Esperance road/rail haulage distances

4

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SLIDE 5

November 10, 2008 5

Western Plains Resources 5 Korea-Australia Conference – 13 Nov 2008

Status of Approvals

  • Peculiar Knob ML granted June 2008
  • PK Native Title Mining Agreement signed Sept 2007 and registered
  • PK BFS completed Sept 2007
  • PK MPLs ready to be lodged; MARP in final stages of preparation
  • Compensation agreements nearing completion
  • Department of Defence has approved WPG’s mining and infrastructure

plans for PK and formal agreement now being documented

  • Hawks Nest DSO permitting ~12 months behind PK
  • Buzzard BFS finished August 2008 and Kestrel magnetite project (both at

Hawks Nest) scoping study completed April 2008

  • MOU with Port of Darwin signed; also investigating Port of Adelaide, both

as short term options until Port Bonython commissioned

  • In October 2008 Flinders Ports consortium was granted right to progress

development of Port Bonython; must complete study by February 2009

5

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SLIDE 6

November 10, 2008 6

Western Plains Resources 6 Korea-Australia Conference – 13 Nov 2008

Strategy

  • Develop PK as stand-alone operation ASAP initially at 2 mtpa –

subject to finalisation of funding/offtake and interim port access it is ready to go

  • Bring Buzzard/Tui DSO into production 1-2 years later when Port

Bonython ready and ramp PK up to 3 mtpa so that total DSO sales increase to 4.5 mtpa for 10 year DSO project life

  • Continue exploration to expand DSO resource/reserves and extend

life

  • Conduct BFS on magnetite deposits with a view to commencing

magnetite concentrate exports at a minimum of at least 6 mtpa from 2012 for >30 year project life – upside is >10 mtpa for >30 years

  • Develop potential for downstream value add processing of

magnetite – pellets, DRI, pig iron etc

6

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SLIDE 7

November 10, 2008 7

Western Plains Resources 7 Korea-Australia Conference – 13 Nov 2008

Mineral Resource Estimates DSO Deposits

  • Peculiar Knob
  • Buzzard
  • Tui

Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Measured resource 13.4 63.7 0.01 7.4 0.3 0.5 Indicated resource 4.1 63.4 0.02 8.2 0.2 0.4 Inferred resource 1.5 64.5 0.02 6.0 0.3 0.3 Total resource 19.0 63.7 0.02 7.5 0.3 0.5 Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Measured resource 12.1 62.1 0.05 8.1 1.4 0.9 Indicated resource 1.5 60.3 0.06 7.9 2.6 1.8 Inferred resource 0.5 62.3 0.07 8.5 1.1 0.8 Total resource 14.1 62.0 0.05 8.1 1.6 1.0

7

Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Measured resource

  • Indicated resource

3.7 60.2 0.08 11.5 0.6 0.8 Inferred resource 0.6 59.9 0.08 11.9 0.7 0.6 Total resource 4.3 60.2 0.08 11.5 0.6 0.08

Note: 55% Fe resource cut-off grade

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SLIDE 8

November 10, 2008 8

Western Plains Resources 8 Korea-Australia Conference – 13 Nov 2008

Mineral Resource Estimates Totals – DSO Deposits

Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Measured resource 25.5 62.9 0.03 7.7 0.8 0.07 Indicated resource 9.3 61.6 0.05 9.5 0.7 0.8 Inferred resource 2.6 63.0 0.04 7.8 0.5 0.5 Total resource 37.4 62.6 0.03 8.2 0.8 0.7

8

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SLIDE 9

November 10, 2008 9

Western Plains Resources 9 Korea-Australia Conference – 13 Nov 2008

Ore Reserve Estimates DSO Deposits

  • Peculiar Knob
  • Buzzard
  • Totals

Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Proved reserve 13.1 62.7 0.01 7.1 0.3 0.5 Probable reserve 2.3 63.0 0.01 7.0 0.2 0.5 Total reserve 15.4 62.7 0.01 7.1 0.3 0.5 Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Proved reserve 11.5 60.7 0.05 8.1 1.4 1.0 Probable reserve 1.3 57.4 0.06 8.0 2.6 1.8 Total reserve 12.8 62.3 0.05 8.1 1.5 1.0

9

Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Proved reserve 24.6 61.8 0.03 7.6 0.08 0.7 Probable reserve 3.6 61.1 0.03 7.4 1.1 0.7 Total reserve 28.2 61.7 0.03 7.5 0.8 0.07

NB: Tui not yet included in reserves

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SLIDE 10

November 10, 2008 10

Western Plains Resources 10 Korea-Australia Conference – 13 Nov 2008

Woomera Test Facility

  • Administered by the

Commonwealth Department of Defence

  • Covers 127,000 km2 -

same size as England

  • Formerly used for space

research; now used for the testing of war materials

  • There are many pastoral

leases, opal diggings and major mines inside it

10

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SLIDE 11

November 10, 2008 11

Western Plains Resources 11 Korea-Australia Conference – 13 Nov 2008

Woomera Test Facility

  • We have approval from

Defence to operate the Peculiar Knob mine and infrastructure

  • Expect agreement to be

signed in December 2008

  • Hawks Nest area is under

centre line of range and is more sensitive to Defence

  • We expect Hawks Nest

agreement will take a further 12 months to finalise

11

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SLIDE 12

November 10, 2008 12

Western Plains Resources 12 Korea-Australia Conference – 13 Nov 2008

PECULIAR KNOB DSO OPERATION

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SLIDE 13

November 10, 2008 13

Western Plains Resources 13 Korea-Australia Conference – 13 Nov 2008

Peculiar Knob DSO

13

  • BFS completed September

2007

  • Simple specular haematite

deposit; high grade Fe with virtually no impurities

  • Very sharp break between ore

and wall rocks

  • Lies beneath 15-30 m cover
  • Effectively all resource reports

to reserves

  • LOM W:O strip ratio 3.6:1
  • Lump: fines - 35%:65%
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SLIDE 14

November 10, 2008 14

Western Plains Resources 14 Korea-Australia Conference – 13 Nov 2008

PK Infrastructure

14

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SLIDE 15

November 10, 2008 15

Western Plains Resources 15 Korea-Australia Conference – 13 Nov 2008

Peculiar Knob Mining

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SLIDE 16

November 10, 2008 16

Western Plains Resources 16 Korea-Australia Conference – 13 Nov 2008

BUZZARD DSO OPERATION

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SLIDE 17

November 10, 2008 17

Western Plains Resources 17 Korea-Australia Conference – 13 Nov 2008

Buzzard DSO

  • Generally similar to

Peculiar Knob

  • Cover about 35m
  • Metallurgical testwork

and mine design completed July 2008

  • Effectively all resource

reports to reserves

  • LOM W:O strip ratio

6.3:1

  • Lump: fines - 65%:35%

17

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SLIDE 18

November 10, 2008 18

Western Plains Resources 18 Korea-Australia Conference – 13 Nov 2008

Buzzard Infrastructure

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SLIDE 19

November 10, 2008 19

Western Plains Resources 19 Korea-Australia Conference – 13 Nov 2008

Buzzard Mining

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SLIDE 20

November 10, 2008 20

Western Plains Resources 20 Korea-Australia Conference – 13 Nov 2008

DSO ECONOMICS

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SLIDE 21

November 10, 2008 21

Western Plains Resources 21 Korea-Australia Conference – 13 Nov 2008

Our Iron Ore Price Assumptions

  • Spot Fe prices have

collapsed in last 3 months but so have ship charter rates and A$/US$ exchange rate

  • Steel price (impacts capex)

and diesel price (opex) have also fallen

  • Graph shows benchmark

price adopted –using Merrill Lynch projections of 25 Oct 2008 – “Armageddon”

  • Marketing advice suggests

we could expect to receive a premium to benchmark for low P content of ore

21

Commodity Prices and Exchange Rate Adopted

0.00 50.00 100.00 150.00 200.00 250.00 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 $0.66 $0.67 $0.68 $0.69 $0.70 $0.71 $0.72 $0.73 $0.74 $0.75 $0.76 Fines Lump AUD / USD Exchange rate

US cents per dmtu

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SLIDE 22

November 10, 2008 22

Western Plains Resources 22 Korea-Australia Conference – 13 Nov 2008

DSO Economics

  • Initial capex for Peculiar

Knob $62m

  • Initial working capital

required for pre-strip and build-up of stockpiles $28m

  • Deferred capex of $65m

required when Buzzard commissioned and Port Bonython constructed

  • Deferred capex can be

funded largely through project cashflow

22

  • PK FOR opex $36/t
  • Initial rail/port costs $33/t
  • PK rail/port costs to fall to $24/t

when Port Bonython commissioned

  • Royalties add another $2-3/t
  • Buzzard higher opex than PK

due to larger strip ratio but

  • ffset by higher lump:fines ratio
  • Our high Fe and low P mean
  • ur ore is probably highest unit

value ore in Australia

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SLIDE 23

November 10, 2008 23

Western Plains Resources 23 Korea-Australia Conference – 13 Nov 2008

DSO Production and Potential Cashflow

  • Assumes 6 month stripping at

PK commences mid 2009, exports commence early 2010

  • Adelaide/Darwin exports 2

mtpa for 3 years then move to Port Bonython

  • PK to be ramped up to 3 mtpa

and Buzzard commissioned to increase sales to 4.5 mtpa

  • Buzzard has better lump:fines

ratio so total lump fraction will increase in later years

23

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Million Tonnes Lump Fines 50 100 150 200 250 300 350 400 450 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 $ Millions Ore sales
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SLIDE 24

November 10, 2008 24

Western Plains Resources 24 Korea-Australia Conference – 13 Nov 2008

MAGNETITE PROJECT

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SLIDE 25

November 10, 2008 25

Western Plains Resources 25 Korea-Australia Conference – 13 Nov 2008

Mineral Resource Estimates Magnetite Deposits

  • Kestrel
  • All magnetite

Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Measured resource 100 37 0.06 37 0.8 0.6 Indicated resource 60 36 0.06 38 1.0 0.8 Inferred resource 60 36 0.06 39 1.1 0.8 Total resource 220 36 0.06 38 0.9 0.7 Category Million Tonnes Fe % P % SiO2 % Al2 O3 % LOl % Kestrel – measured, indicated and inferred 220 36 0.06 38 0.9 0.7 Goshawk - inferred resource 148 35

  • Harrier - inferred

resource 54 35

  • Eagle - inferred

resource 92 31

  • Kite - inferred

resource 30 51

  • Falcon - inferred

resource 25 32

  • Total resource

570 36

  • 25

Clear potential to increase total resource to >1 billion tonnes with further drilling

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SLIDE 26

November 10, 2008 26

Western Plains Resources 26 Korea-Australia Conference – 13 Nov 2008

Kestrel Magnetite

  • Kestrel is a BIF that outcrops at

Hawks Nest

  • Drilled to 135m depth over strike

length of 1,200m with lines 100m apart

  • Total resource 220 mt at 36% Fe
  • Excellent metallurgical

characteristics – 45% mass recovery to concentrate without fine grinding nor flotation

  • Scoping study to produce 6 mtpa

magnetite concentrate completed April 2008

26

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SLIDE 27

November 10, 2008 27

Western Plains Resources 27 Korea-Australia Conference – 13 Nov 2008

Other Magnetite Deposits

  • DTR to concentrate varies from 35.8% at

Falcon to 55.2% at Kite

  • These are very encouraging results (better

than most WA BIFs) because ROM tonnage and plant size would be smaller for given tonnage of concentrate

27

Deposit Hole Intercept Davis Tube Recovery Number (m) %Mass %Fe %P %SiO2 %Al2O3 Kestrel

HKN065

54 45.4 65.2 0.00 8.71 0.11 Kestrel

HKN077

60 44.9 65.3 0.01 8.52 0.07 Goshawk

HKN081

62 48.6 65.3 0.01 7.97 0.15 Harrier

HKN088

72 47.2 66.5 0.01 7.52 0.16 Eagle

HKN100

92 41.2 67.5 0.01 6.41 0.10 Kite

HKN092

68 55.2 69.6 0.01 3.24 0.39 Falcon

HKN091

68 35.8 67.1 0.01 6.53 0.40 Davis Tube Concentrate

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SLIDE 28

November 10, 2008 28

Western Plains Resources 28 Korea-Australia Conference – 13 Nov 2008

Magnetite Economics

  • Initial capex for 13.5

mtpa ROM project to produce 6 mtpa concentrate for 30 years is $720m (benefits from DSO infrastructure)

  • Initial cash opex $51/t

concentrate

  • Pellets, pig iron offer

value-add opportunities

28

0 mt 100 mt 200 mt 300 mt 400 mt 500 mt 600 mt 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 Pit Shell Tonnes A$0 m A$500 m A$1,000 m A$1,500 m A$2,000 m A$2,500 m A$3,000 m Net Cashflow diluted resource waste Undiscounted Cashflow Discounted Cashflow Worst NO CAPEX DEDUCTED
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SLIDE 29

November 10, 2008 29

Western Plains Resources 29 Korea-Australia Conference – 13 Nov 2008

FURTHER EXPLORATION POTENTIAL

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SLIDE 30

November 10, 2008 30

Western Plains Resources 30 Korea-Australia Conference – 13 Nov 2008

Hawks Nest Exploration Targets

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SLIDE 31

November 10, 2008 31

Western Plains Resources 31 Korea-Australia Conference – 13 Nov 2008

PORT OPTIONS

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SLIDE 32

November 10, 2008 32

Western Plains Resources 32 Korea-Australia Conference – 13 Nov 2008

Port Options

  • Darwin: Closest Australian port to

China, can handle Panamaxes now and maybe Capes in the future but very expensive rail freight – short term port solution

  • Adelaide: We are working on an

innovative plan. Lower opex option than Darwin. It can handle Panamaxes– short term port solution

  • Port Bonython near Whyalla: New

port to be developed by Flinders Ports for Capes, longer sea voyage but lower rail freight – longer term and

  • ptimal port solution

32

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SLIDE 33

November 10, 2008 33

Western Plains Resources 33 Korea-Australia Conference – 13 Nov 2008

Port Darwin

  • Closest Australian port to China
  • Connected to standard gauge

rail network

  • One train set can handle 0.65

mtpa (vs 1.5 mtpa to Port Bonython)

  • Rail network needs to be

upgraded (more passing loops) if more trains are to be accommodated

  • Open air stockpiles OK –

reduces capex

  • Panamaxes now; likely that

Capes could be handled in the future

33

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SLIDE 34

November 10, 2008 34

Western Plains Resources 34 Korea-Australia Conference – 13 Nov 2008

Port Adelaide

  • Existing port with 20 wharves –

mainly containers but also some bulk

  • 14 km from city of Adelaide
  • Connected to standard gauge rail

network

  • One train set can handle ~1 mtpa

(vs 1.5 mtpa to Port Bonython)

  • Rail network needs no major

upgrading

  • Adequate land available
  • We are working on an innovative

shipping and loading concept

  • Can handle Panamaxes though

not fully laden – short term solution

34

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SLIDE 35

November 10, 2008 35

Western Plains Resources 35 Korea-Australia Conference – 13 Nov 2008

Port Bonython

  • Existing deepwater port near

Whyalla that’s used for oil and gas exports – can handle Capes

  • Flinders Ports consortium

given right by SA government to proceed to development subject to feasibility study

  • New facility will be connected

to standard gauge rail network

  • Capacity expected to be up to

15-20 mtpa

  • SA Minister for Transport

expects port will be

  • perational in 2011

35

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SLIDE 36

November 10, 2008 36

Western Plains Resources 36 Korea-Australia Conference – 13 Nov 2008

COMPARATIVE METRICS

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SLIDE 37

November 10, 2008 37

Western Plains Resources 37 Korea-Australia Conference – 13 Nov 2008

Junior Iron Ore Companies

Note that most companies are controlled or influenced by foreign investors. Opportunities available for Korea to move to resource security are limited.

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SLIDE 38

November 10, 2008 38

Western Plains Resources 38 Korea-Australia Conference – 13 Nov 2008

Comparisons – DSO Fe and P grades

38

PMM MGX MMX MIS AGO GBG RHI BCI IOH TTY GWR FRS CXM WPG 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 55.0 56.5 58.0 59.5 61.0 62.5 Haematite Grade (%Fe) Tonnage Haematite (Mt) Portman Mount Gibson Iron Murchison Metals Midw est Corporation Atlas Iron Gindalbie Metals Red Hill Iron BC Iron Territory Iron Iron Ore Holdings Golden West Resources FerrAus Ltd Centrex Metals Western Plains Resources

PMM MGX MMX AGO GBG RHI BCI IOH TTY GWR FRS CXM WPG 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 0.00 0.10 0.20 0.30 0.40 0.50 0.60 %P Tonnage Haematite (Mt) Portman Mount Gibson Iron Murchison Metals Atlas Iron Gindalbie Metals Red Hill Iron BC Iron Iron Ore Holdings Territory Iron Golden West Resources FerrAus Ltd Centrex Metals Western Plains Resources

WPG’s Fe grade is the highest and its P content is amongst the lowest in Australia…

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SLIDE 39

November 10, 2008 39

Western Plains Resources 39 Korea-Australia Conference – 13 Nov 2008

DSO Enterprise Value Metrics

39

…but its enterprise value is very low in comparison to its resource tonnage and especially Fe grade.

PMM MGX MMX MIS AGO GBG RHI BCI IOH TTY GWR FRS CXM WPG 0.00 5.00 10.00 15.00 20.00 25.00 30.00 55.0 56.0 57.0 58.0 59.0 60.0 61.0 62.0 63.0 Haematite Grade (%Fe) EV per resource tonne (A$/t) Portman Mount Gibson Iron Murchison Metals Midwest Corporation Atlas Iron Gindalbie Metals Red Hill Iron BC Iron Iron Ore Holdings Territory Iron Golden West Resources FerrAus Ltd Centrex Metals Western Plains Resources

PMM MGX MMX MIS AGO GBG RHI BCI IOH TTY GWR FRS CXM WPG 0.00 5.00 10.00 15.00 20.00 25.00 30.00 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 Tonnage Haematite (Mt) EV per resource tonne (A$/t) Portman Mount Gibson Iron Murchison Metals Midwest Corporation Atlas Iron Gindalbie Metals Red Hill Iron BC Iron Iron Ore Holdings Territory Iron Golden West Resources FerrAus Ltd Centrex Metals Western Plains Resources
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SLIDE 40

November 10, 2008 40

Western Plains Resources 40 Korea-Australia Conference – 13 Nov 2008

COMPETENT PERSONS

  • The review of exploration activities and results and the mineral resource estimates for the Peculiar Knob,

Buzzard and Tui deposits contained in this presentation are based on information compiled by Mr Gary Jones, a Member of the Australasian Institute of Mining and Metallurgy. He is Technical Director of Western Plains Resources Limited and a full time employee of Geonz Associates Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Gary Jones has consented in writing to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

  • The mineral resource estimate for the Hawks Nest magnetite deposit contained in this presentation is

based on information compiled by Mr Arnold van der Heyden, a Member of the Australasian Institute of Mining and Metallurgy. He is an employee of Hellman & Schofield Pty Ltd. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition

  • f the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the

JORC Code). Arnold van der Heyden has consented in writing to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

  • The ore reserve estimates for the Peculiar Knob and Buzzard DSO deposits contained in this presentation

are based on information compiled by Mr John Wyche, a Member of the Australasian Institute of Mining and Metallurgy. He is an employee of Australian Mine Design and Development Pty Ltd. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). John Wyche has consented in writing to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.