Corporate Presentation

June 2011

www.timahresources.com.au Disclaimer & Disclosures

This document has been prepared as a summary only and does not contain all information about the Timah Resources Limited (the Company) assets and liabilities, financial position and performance, profits and losses, prospects and the rights and liabilities attaching to the Company’s securities. The document should be read with any public announcements and reports released by Timah Resources Limited. The information is based on publicly available information, internally developed data and other sources. Where any option is expressed only. No warranties or representations can be made as to the origin, accuracy, completeness, or reliability of the information.

Some of the statements contained in the presentation are forward looking statements. Forward looking statement information may include, but is not limited to, information with respect to the future financial and operating performance of the company or its afflicated companies statements relating to the continued advancement of the Company’s project and other statements which are not historical facts. When used in this document and other published information of the Company, the words such as “aim”, “could"," estimate”, “expect”, “may”, “potential”, “should” and similar expression are forward looking statements.

Although, the Company believes that its expectation reflected in the forward looking statement area reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward looking statements. Various factors could cause actual results to differ from these forward looking statement include the potential that the Company’s projects may experience technical, geological, metallurgical and mechanical problems, changes in commodity prices, changes in government regulation, policies or legislation, unforeseen expenses, fluctuation in the exchange rate Australian dollar and the United States dollar and other risks not anticipated by the Company or disclosed in the Company’s published material.

The Company doesn’t not purport to give financial advice. No accounts has been taken of the objectives, financial situation or needs of any recipient of this document. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstance, including their financial and taxation position.

Exploration Targets: The information included in this presentation relating to the trial mining, production, development or exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. The potential quantity, grade and quality is conceptual in nature, since there has been insufficient exploration to define a Mineral Resources or Reserves. It is uncertain if further exploration will result in the determination of a Mineral Resources or Reserve.

2 Disclaimer & Disclosures

Competent Persons

The information in this presentation that relates to iron exploration results is based on information verified by Graeme Johnston who is a Fellow of the Geological Society of London. Graeme Johnston is a non-executive director of Timah Resources Limited. Graeme Johnston has sufficient experience, which is relevant to the type of resources under consideration and the activities being 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”. Graeme Johnston consents to the inclusion in the report of this information in the form and context in which it appears.

3 Contents

-Corporate Information - Iron Ore Industry - Project 1: Bathurst Island Iron Project - Project 2: Strachan Iron Project - Proposed IPO Details - Appendixes: Neighbouring Projects

4 Corporate Information

Timah Management and Board of Directors . Lawrence Nguyen – Non-Executive Director . Jack Tan – Executive Chairman Lawrence has a Bachelor of Pharmacy degree from Sydney University and a Masters of Pharmacy (Clinical). He has management and corporate experience acquired through being >20 years experience in the finance, IPO and public companies. Former the director of a public listed company in Australia, Health Corporation Limited. He is a Non-Exec director of Orocobre Limited, Jack was a founder and Exec Member of The Australian Institute of Company Directors (MAICD) and is currently Director of Rocklands Richfield Ltd and Norton Goldfields Limited. He is completing his Fellowship. currently Chairman of ASX listed coal company Overseas & General Ltd. . Robert Lees – Company Secretary . Michael Mo – Deputy Non-Exec Chairman He is a member of the Institute of Chartered Accountants in Australia and Chartered Has an extensive employment background throughout Asia, Australia and Secretaries of Australia. Provided Company Secretarial services to small ASX-listed UK in the construction, real estate, trading and resources industries. He is companies, which has included working on 10 IPO’s and back door listings. He is widely recognised as an experienced Investment and Management Executive and is a Director of several large-sized construction and trading presently the Company Secretary of four public listed companies. companies in China. He is currently Deputy Non-Exec Chairman of Overseas & General Ltd. Timah Resources is currently a NSX listed company seeking to IPO on the

. Graeme Johnston – Non-Executive Director ASX through a capital raising up to A$6m with a minimum of A$3m and Graeme has a B.Sc (Hons) in Geology, M.Sc. in structural geology and rock over subscription up to A$12m at $0.20 per TMH share. mechanics, a Diploma of Imperial College of Science and Technology, and is a Fellow of the Geological Society of London. Graeme has 25 years experience in geology and mineral exploration in Australia, Malaysia and Minimum Minimum Over Eastern Europe including 15 years directly involved in iron ore projects. He Shares Subscription Subscription Subscription was a founding director of Goldstar Resources Limited and ASX Listed A$3million A$6million A$12million Ferrowest Limited. Shares on Issues prior to IPO 68,252,626 68,252,626 68,252,626 . Neil Stuart – Non-Executive Director Number of Options prior to IPO* 23,000,000 23,000,000 23,000,000 Neil is a qualified senior geologist who began his career in the mining Shares offered to the public under the Offer 15,000,000 30,000,000 60,000,000 industry in 1968. Neil has worked all over the globe and developed extensive experience in a wide range of mineral commodities including Shares to be Issued to Urban Minerals Pty Ltd** 2,000,000 2,000,000 2,000,000 coal, uranium and base metals. Founding Director of Oroplata Ltd, Rimfire Pacific Mining N.L. Presently a Non-Exec Chairman of Bowen Energy Ltd, Option to be issued to Urban Minerals*** 2,000,000 2,000,000 2,000,000 Non-Exec Director of Orocobre Ltd and Non-Exec Director of Axiom Mining Ltd and Overseas & General Ltd. Total Number of Shares following this Offer (fully 110,252,626 125,252,626 155,252,626 diluted)

*23 million options, exercise at 30cents, exercise expiry date: 31 Dec 2013. **2 million shares escrowed for 12 months. ***2 million options, exercise at 30cents, 3 years escrowed period from date of option.

5

Iron Ore Industry . Brazil is the world’s largest iron ore producer, followed by Australia, China and India.

. Australia exports >91% of its iron ore production with increasing volume every year since 1991.

. Iron ore export value in 2009FY, reached a record high of A$34.2billion, up 67% from 2008FY and a 6 fold increase since 2001FY.

. In 2009FY, on average, Australia received A$106/t of export iron ore (averaged of DSO fines and lump), compared to A$31/t in 2001.

. 2011 averaged price is well over A$140/t FOB.

World Iron Ore Production: ABARE 2010 Australia Iron Ore Profile: ABARE 2010

2,000 Million 500 40,000 Million Iron Ore Output A$bn 1,800 tonne tonne 35,000 Iron Ore Export 1,600 Others 400 30,000 1,400 Export Value 1,200 300 A$bn 25,000 1,000 20,000 Brazil 800 200 15,000 600 10,000 400 100 200 5,000 Australia - 0 - 2001 2002 2003 2004 2005 2006 2007 2008 2009 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010F

6 Iron Ore Industry . Australia remains the largest seaborne iron ore trader accounting for more than 35% of global seaborne iron ore volume, in front of Brazil and India.

. Australia’s key iron ore export destination is the Chinese market. In 2009FY, it accounted for 69% of iron ore export volume compared to 23% in 2001.

. Japan and South Korea are the other major Australian iron ore export destinations with the top 3 countries accounting for well over 97% of the iron ore export volume.

Australia Iron Ore Export Destination: ABARE 2010 World Iron Ore Seaborne : ABARE 2010

300 Million China 80% 1,000 Mt tonne Japan 70% 900 Other 250 S.Korea EU 800 60% Others 700 200 % Export to China 50% 600 India 150 40% 500 400 30% Brazil 100 300 20% 200 50 10% 100 Australia - 0 0% 2001 2002 2003 2004 2005 2006 2007 2008 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010F

7 Iron Ore Industry Iron Ore the STEEL story…. . China’s crude steel production has annually averaged 11.2% over the last 20 years, while rest of the world has contracted. Overall total world steel output averaging an increase of 2.3% p.a.

. Other large steel producers are Japan, USA, India, Russia, Germany and Brazil.

World Crude Steel Production: World Steel Association 1,600 Million Rest of World Rest of Asia China tonne . China’s production accounts for 1,400 >45% of total world steel output.

1,200 . In 1995, China and USA steel 488 586 556 output was at similar level 1,000 419 567 93.6Mt. 543 800 552 254 520 . On current annualised basis, USA 452 208 600 241 248 509 491 is producing at 86Mt of steel per 484 472 473 228 217 year, compared to China’s 700Mt. 400 212 207 207 625 566 191 487 498 187 174 175 193 421 200 353 274 219 219 108 114 124 126 143 - 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 8 Timah Investment Highlights

 Timah Resources is set to list on the ASX under this IPO Offering. Timah plans to raise up to A$6m, with a minimum of A$3m @ 20c per Share.

 The Company is focussed on iron and iron ore projects: 1).Bathurst Island Iron Project – highly prospective for iron, with neighbouring islands producing ~120Mt of high grade DSO iron ore since 1950’s. - Preliminary work (rock samples) confirm the presence of iron on Bathurst Island. -Timah aims to discover and to develop economic iron deposits on Bathurst island and to replicate the success achieved by neighbouring Pluton Resources on Irvine Island.

2).Strachan Iron Project – Prospective for magnetite mineralisation, along strike from Grange Resources’ 654Mt magnetite Southdown Project.

 Australian based iron projects have low sovereign risk and a good corporate governance environment.

 Proven board and management team with technical, capital market experience and expertise in exploration projects. 9

Project 1: Bathurst Island Iron Project

. Bathurst Island Iron Project located 260km due NE of Broome and 150km due North of Derby in the Kimberley region of WA.

. Timah Resources owns 100% of the 60km2 Exploration Licence E04/1589 block, expiry date of 9th Aug 2012.

. Highly prospective geology for iron with same geology as neighbouring iron islands – Pluton Resources’ Irvine Island, Cliffs Natural’s Cockatoo Island and Mt Gibson’s Koolan Island.

10 Project 1: Bathurst Island Iron Project

Bathurst Island Cockatoo Island – 1.4Mtpa Koolan Island – 3Mtpa Timah Resources Cliffs Natural Resources Inc Mt Gibson Limited

-Stage 3 operation to be mined out soon. Resources: 74Mt @ ~63% Fe iron ore -Mined 12Mt since 1995 and 28Mt between 1951 -1984 by BHP. -airport, accommodation and camps on site for the iron ore operation.

-Mined 11Mt iron ore since 2007 and 68Mt from 1959 to 1994 by BHP.

Irvine Island – under DFS Pluton Resources

-Reserves: 143Mt @ 28% Fe, set to produce 40Mt @ 67% Fe concentrates.

11 Project 1: Bathurst Island Iron Project

Project Geology

. Bathurst Island has similar geology as the neighbouring islands which make up the Kimberley Iron Ore Hub with occurrences of iron ore – younger in age than that of the Pilbara region.

Wonganin Sandstone – lower grade of iron unit ~20% Fe . 2 main iron bearing units: Yampi Formation –higher grade of iron unit ~45% Fe

. The iron mineralisation occurs an intergrowth of iron around sand particles = Haematite Sandstone with some traces of zircon, monazite between the quartz and haematite. Bathurst Island Iron Units . Rock Samples collected from Bathurst island confirm the presence of iron mineralised Wonganin Sandstones units.

. Pluton Resources, 143Mt @ 28% Fe reserves set to produce 40Mt high quality 67% iron concentrates.

. DTR analysis shows the Yampi Formation concentrate samples

to around 69%Fe, 3.2% SiO2, 0.1% Al2O3, 0.01%S and 0.005% P.

Source: Timah Resources 12

Project 1: Bathurst Island Iron Project

Historical Exploration Work

. Bathurst Island remains ‘greenfield’ tenement. A site visit conducted in 2008 collected 24 samples with iron values ranging from 32% to 56% Fe.

. Joint Aeromagnetic survey conducted in 2009 with Pluton Resources shows a significant magnetic anomaly on the tenement to the west of Bathurst Island, (see below chart).

. A regional Fauna Study was undertaken in 2010, indicating no rare or

endangered fauna on the island. Source: Timah Resources

Future Exploration work

. Approval from Mayala People for Heritage Survey for proposed drill sites.

. Island wide mapping programme required with Mayala People to identify likely drilling locations.

. Site specific flora surveys for DMP works approval required.

. Limited reconnaissance drilling, likely 2 phases to generate a JORC compliant resource.

Source: Timah Resources 13

Project 1: Bathurst Island Iron Project

Timah April 2011 Reconnaissance site visit.

Massive haematitic sandstone SE of Bathurst Island

Mineralised outcrop 14 Project 1: Bathurst Island Iron Project

Bathurst Island 33 Rock Chip Samples Iron Distribution

The Average Fe content of the latest 9 rock chip samples is 43.5% Fe with low impurities.

Sample Fe % SiO2 % Al2O3 % P % S % 1 39.6 40.4 1.7 0.025 0.005 2 42.8 36.2 1.5 0.024 0.01 3 39.0 41.7 1.4 0.031 0.024 4 51.9 24.4 0.7 0.025 0.011 5 54.3 21.1 0.9 0.013 0.005 6 49.5 27.0 1.2 0.027 0.005 7 49.0 27.6 1.5 0.019 0.009 8 21.9 65.7 1.8 0.017 0.002 9 43.8 35.0 1.3 0.011 0.011 Average 43.5 35.5 1.3 0.021 0.009

15 Project 2: Strachan Iron Project

. The Strachan Iron Project is located 275km SSE of Perth with two Exploration Licence tenements EL70/3983 and EL70/3984 with total area of 546km2.

. The project is located close to nearby existing rail and road infrastructures.

. The nearest port is Bunbury Port, 130km NW.

. The project is 180km West of the Grange Resources and Sojitz Corporation JV Southdown Magnetite Project currently under DFS.

16 Project 2: Strachan Iron Project

Project Highlights

. The project which is located in the anomalously magnetic Albany- Fraser geological terrain, is prospective for high grade magnetite iron in this emerging iron ore province.

. The host rocks in the project area are similar to those containing the Southdown Magnetite Project further to the east of the tenement holdings.

. Project is serviced by good infrastructure - major bitumen road to coastal ports of Bunbury and Albany and rail network.

. Power supply in the region is extensive, 300MW power station at Collie.

Project Acquisition

. Timah Resources has a call option on the project acquisition by payment of cash, 2m TMH shares and 2m options equity subject to Timah ASX listing.

. Future exploration program may include regional aerial surveys, ground surveys and exploration drilling. 17

IPO Indicative Timeline

INDEPENDENT GEOLOGIST IPO Proposed Schedule Mackay & Schnellmann Pty Limited Event Date 4 Lawrence Avenue West Perth WA 6005 Date of Prospectus Lodgement July Phone: +618 9322 3600 Offer Opening Date August Fax: +618 9322 3699 Public Offer Close Late August http://www.mackayschnellmann.com Allotment Date September Trading on ASX commences September AUDITOR Hall Chadwick Level 29, 31 Market Street Sydney NSW 2000 2 Years Corporate and Exploration Budget Phone: +612 9263 2600 Fax: +612 9263 2800 A$3million A$6million A$12million www.hallchadwick.com.au

Raising Raising Raising

Bathurst Island Iron Project 1,343,086 3,235,325 6,502,039 LAWYER Strachan Iron Project 600,000 1,200,000 1,500,000 Holding Redlich Lawyers Level 65 MLC Centre Corporate Adminstration 300,000 300,000 300,000 19 Martin Place Further Acquisition 300,000 500,000 1,000,000 Sydney NSW 2000 Phone: +612 8083 0388 Expenses of the Offer 400,000 600,000 850,000 Fax: +612 8083 0399 Discretionary Fund 56,914 164,675 1,847,961 www.holdingredlich.com.au Total $3,000,000 $6,000,000 $12,000,000

18 Use of Fund –A$3m Raising

2 Years Corporate and Exploration Budget Bathurst Island Results Expectation Bathurst Island - 2 Year Budget Items Year 1 Items Year 2 . Complete mapping to generate and identify drilling Land Access Expenses 95,163 Land Access Expenses 70,725 targets. Flora Survey -Wet 191,705 Regional Mapping 399,671 Fauna Survey 191,705 PoW Heritage Survey 138,863 . Complete heritage survey for approval of future Geological Report 27,225 Flora Survey - Dry 191,705 drilling program. PoW Application 9,100 Geological Reporting 27,225 . Application for permit and approval of access. Sub-Total $ 505,798 Sub-Total $ 837,289

Bathurst Island Total $ 1,343,086

Strachan Project - 2 Year Budget Items Year 1 Items Year 2 Strachan Results Expectation Desktop Study 50,000 Desktop Study - Aeromagnetic Survey 200,000 Aeromagnetic Survey 200,000 . Complete aeromagnetic survey to generate and Processing 50,000 Processing 50,000 target areas of interest. Ground Proofing - Ground Proofing 50,000 Sub-Total $ 300,000 Sub-Total $300,000 . Process and identify other base metal of area in the

tenement area. Strachan Total $600,000

19 Use of Fund –A$6m Raising

2 Years Corporate and Exploration Budget

Bathurst Island - 2 Year Budget Items Year 1 Items Year 2 Bathurst Island Results Expectation Land Access Expenses 95,163 Land Access Expenses 119,880 Flora Survey -Wet 95,910 PoW Heritage Survey 138,863 . Completion of Mapping brought forward 1 year Fauna Survey 191,705 Flora Survey- Dry 191,705 Regional Mapping 399,671 Pow Applications 9,100 . Complete 5 recon drilling holes, reference to Geological Report 27,225 Project Supervision 344,070 Recon Drilling Costs 1,584,892 geological structure and future drilling targets. Drilling Consumables 10,097 Geological Reporting 27,045 . NEED more Funding for JORC compliant resource. Sub-Total $ 809,674 Sub-Total $ 2,425,651

Bathurst Island Total $3,235,325

Strachan Project - 2 Year Budget Items Year 1 Items Year 2 Strachan Results Expectation Desktop Study 50,000 Desktop Study - Aeromagnetic Survey 400,000 Aeromagnetic Survey 400,000 . Increase aeromagnetic survey and geophysical Processing 50,000 Processing 50,000 Ground Proofing - Ground Proofing 50,000 mapping. Recon Drilling 200,000 Sub-Total $500,000 Sub-Total $ 700,000 . Small sample drilling.

Strachan Total $ 1,200,000

20 Use of Fund –A$12m Raising

2 Years Corporate and Exploration Budget Bathurst Island - 2 Year Budget Bathurst Island Results Expectation Items Year 1 Items Year 2 Land Access Expenses 95,163 Land Access Expenses 119,880 . Complete 20 sites drilling and 1 deep drill holes at Flora Survey -Wet 95,910 PoW Heritage Survey 138,863 Fauna Survey 191,705 Flora Survey- Dry 191,705 the secondary target area. Regional Mapping 399,671 Pow Applications 9,100 Geological Report 27,225 Project Supervision 807,000 . Targeting JORC compliant inferred resource, driling Phase 1 Driling 3,970,950 Drilling Consumables 17,823 200m apart at 400m lines. Phase 1 Metallurgy 235,400 Scoping Study 145,000 . Achieve metallurgy and scoping study. Geological Modelling 29,600 Geological Report 27,045 Sub-Total $809,674 Sub-Total $5,692,365

Bathurst Island Total $ 6,502,039

Strachan Project - 2 Year Budget Items Year 1 Items Year 2 Strachan Results Expectation Desktop Study 50,000 Desktop Study - Aeromagnetic Survey 400,000 Aeromagnetic Survey 400,000 . Similar to A$6m use of funds, but more sample Processing 50,000 Processing 50,000 drilling. Ground Proofing - Ground Proofing 50,000 Recon Drilling - 500,000 Sub-Total $ 500,000 Sub-Total $1,000,000

Strachan Total $ 1,500,000 21 Appendix

Pluton Resources’ Irvine Island Project Highlights

. Irvine Island is around 3km by 3km, PLV acquired first 50% of the project by spending A$0.5m and purchased the remaining 50% for A$5m cash and 19.9% PLV share equity from Cliff Natural Resources in August 2009.

. Iron resources established from two regions of the island:

1) Hardstaff Peninsula- 2 iron units, the Yampi Member and the Wonganin Sandstone collectively to produce high quality iron concentrates.

2) Isthmus Region: expanded resource of 17Mt @ 32% Fe.

. Iron testwork show, very low levels of impurities in the iron concentrates = high value and quality iron concentrates.

. PFS results suggest economical stage 1 operation to produce 40Mt high quality iron concentrates by two stage beneficiation system.

. Project commenced Bankable Feasibility Study, to extend the mine life and PFS results.

. Irvine Island is subject to native title with the Mayala People. Source: Pluton Resources 22

Appendix

Picture of Irvine Island iron formation and iron resource structure.

Picture of Bathurst Island

Source: Pluton Resources located less than 1km from

Illustration of Bathurst Island Plans to build an long term relationship Irvine Island. drilling program possibilities. with the native Malaya people .

Source: Timah Resources Source: Timah Resources Source: Timah Resources23 Appendix

Grange Resources’ Southdown Magnetite Project Highlights

. Proposed 10Mtpa concentrates output for 25 years mine life. Magnetite concentrates is set to be shipped to a Malaysian 7Mtpa pellet plant.

. Estimated operating costs

. Southdown capital costs is A$2,575m and Pellet plant is A$941m.

. Current resource is 654Mt @ 36.5% Fe and reserves is 388Mt @ 35.5% Fe. Known mineralisation is 12km strike and 50 to 500m in depth.

. Proposed 100km slurry pipeline to Albany Port, estimate average water consumption is 5.6GL and 10Mtpa port capacity at Albany Port.

Source: Grange Resources Source: Grange Resources 24