Henty Gold Mine Analysts & Investors site tour 18 January 2012

Matt Daly Presentation Title General Manager,Date Henty Gold Mine

For personal use only use personal For Angela Lorrigan General Manager, Exploration

Unity Mining Limited 1 Corporate

• ASX: UML

• Share price: $0.10, 12mth High/Low : $0.20/$0.08

• 512.7M ordinary shares

• Mkt Cap: A$51 million

• Cash: A$44.1 million (31 Dec 2011)

• No debt, no hedging

• Substantial shareholders

• Orbis Funds 11.7%

• State Teachers Ohio 7.2% For personal use only use personal For

Unity Mining Limited 2 Board of Directors

Peter McCarthy - Non-Executive Chairman Mr McCarthy has 40 years experience in the mining industry. He is the chairman of AMC Consultants, a prominent mining consultancy group in , and a Non-Executive Director of Castlemaine Goldfields Limited. He was President of the AusIMM in 2007 and 2008. His principal expertise is in underground mining and project evaluation.

Andrew McIlwain - Managing Director and CEO Mr McIlwain has over 25 years experience in the mining industry. He is a qualified mining engineer and has held operational, technical, senior management and executive roles within Mount Isa Mines Limited, Central Norseman Gold Corporation, WMC Resources and Lafayette Mining Limited. More recently, as an independent consultant, he has worked with Oxiana, Heemskirk and Tusker Gold focussing on corporate transactions.

Ronnie Beevor - Non–Executive Director Mr Beevor is an investment banker and was Head of Investment Banking at N M Rothschild & Sons (Australia) Limited between 1997 and 2002. He has had extensive involvement with the natural resources industry, both in Australia and overseas.

David Ransom - Non-Executive Director Mr Ransom is a resource analyst and principal of Acorn Capital Limited, a Melbourne-based

For personal use only use personal For microcap investment manager. He is a geologist with a BSc from Sydney University and a PhD from the Australian National University, and has over 35 years experience in the minerals industry.

Unity Mining Limited 3 Key assets

• Henty Gold Mine () – 40-50,000 oz/y producer (FY12 guidance)

– Mineral Resources: 252 koz

– Large tenement position along Henty Fault

• GoldStone Resources (AIM: GRL), 34% equity interest – Mineral Resources: 406 koz

– Exploration programs underway in Ghana and Senegal

• Bendigo Goldfield (Victoria) – 600 kt/y plant and infrastructure

– Drummond Gold farm-in on surrounding EL For personal use only use personal For • Cash $44M (31 Dec 2011)

Unity Mining Limited 4 Henty overview

• Located in mineral-rich Mt Read Volcanic Belt on the West Coast of Tasmania

• 1996 Goldfields commences production

• 2000s - 5 different owners in 10 years

– Goldfields, AurionGold, Placer Dome,

Barrick and now Unity For personal use only use personal For

Unity Mining Limited 5 Henty overview

• Located in mineral-rich Mt Read Volcanic Belt on the West Coast of Tasmania

• 1996 Goldfields commences production

• 2000s - 5 different owners in 10 years

– Goldfields, AurionGold, Placer Dome, Barrick and now Unity

• Growing ground position

– Now hold ~160 km2 (~30 km2 in July ’09)

– Firetower farm-in adds further 264 km2 For personal use only use personal For

Unity Mining Limited 6 Henty overview

300,000 t/y conventional gold plant

Shaft and decline access Conventional mining & equipment

Resources 252 koz (30 Jun 2011) Reserves 107 koz (30 Jun 2011)

50,000 oz/y production rate

106 employees + 60 contractors For personal use only use personal For

Unity Mining Limited 7 Henty overview - Mine safety

Safety Before Gold

– Safe Methods

– Safe Equipment

– Safety Training

– Safety Behavior

– Fit for work and home For personal use only use personal For

Unity Mining Limited 8 Henty overview - Environment

• Henty has to be an environmentally friendly site • Water management is critical

– Tailings dam wall lift recently completed

For personal use only use personal For From this…… …….to this – into the

Unity Mining Limited 9 Henty overview - People

• 166 site personnel

– 106 full-time employees (98 men, 8 women)

– 60 Setori contractors (60 men)

– Average length of tenure 8 yrs

• Rosters: 5/2, 5/5, 4/4, 6/8

• Residential drive in/out

– 30 min commute from Queenstown; others in Tullah, Rosebery, , Strahan and

elsewhere within Tasmania For personal use only use personal For

Unity Mining Limited 10 Henty overview - Operations

• Operations >500-800m deep

– little ground water, good geotechnical conditions

• Mechanised underground mine with decline access

– internal hoisting shaft

• Various mining methods utilised – cut and fill, benching, open stoping

– to suit varying ore body size For personal use only use personal For

Unity Mining Limited 11 Henty overview - Operations

Installing ground support Remote loading For personal use only use personal For

Unity Mining Limited 12 Henty overview - Equipment

• $3.8M upgrade to underground mining fleet in 2010 • Low hour equipment transferred from Kangaroo Flat Mine in 2011 • Current fleet:

– 1 x R1700, 2 x R1600, & 2 x R1300 Caterpillar LHDs

– 1 x Simba Atlas Copco production drill

– 2 x twin boom Atlas Copco jumbos (H282 & M2D)

– 3 x H104 Atlas Copco single boom jumbos (incl. 1 long hole production rig)

– 2 x AD30 Caterpillar ejector trucks

– 1 x MT436B Atlas Copco truck

– 1 x Normet charge car

For personal use only use personal For Fully equipped for the future

Unity Mining Limited 13 Henty overview - Processing

• Mobile crusher

• Single stage SAG mill

• Carbon-in-leach (CIL) circuit

– INCO cyanide destruction • Knelson concentrator and intensive leach reactor (ILR) • High-density paste fill plant

• Typical gold recovery 93% For personal use only use personal For

Unity Mining Limited 14 Henty overview - Community relations

• Strong relationships for many years

– Support local groups (monetary and in-kind), covering West and North-West Coast Tasmania

– Increased presence in local and state schools - understanding the mining industry and employment opportunities

– High school scholarship program

– Host regular site visits from community groups, schools,

government departments and media For personal use only use personal For

Unity Mining Limited 15 Henty overview - Summary

• After 15 years Henty has:

– Produced 1.2 Moz at c.12 g/t gold

– A sound track record in safety and environmental management

– An experienced workforce

– Good infrastructure – well maintained

– Excellent exploration potential For personal use only use personal For

Unity Mining Limited 16

Henty long section For personal use only use personal For

Unity Mining Limited 17 Henty today

• Discovery of Newton Zone

– Newton a major contributor to doubling of resources, and remains open at depth

• Mine life around 4 years, and growing

• Investment in new mining fleet & transfer of equip from KFM

• Tenement position expanded

– Underexplored & highly prospective

• Exploration a key focus

– Talented team & significant budget For personal use only use personal For

Unity Mining Limited 18 Henty operational performance

• Dec Qtr production of 17,569 oz at $757/oz

– Includes royalties of $177/oz

– Best production result under UML ownership

– FYTD production of 28,009 oz

• Mine plan for the next six months is scheduling less ambitious production results

• Expect to deliver toward top end of 40-50,000 oz guidance

range for FY12 For personal use only use personal For

Unity Mining Limited 19 Henty Life of Mine grade

• Exploration aimed at increasing grade towards LOM average of around 12 g/t gold

– At reserve grade of 6 g/t, production is c.50,000 oz p.a.

– At LOM average grade, production is c.100,000 oz p.a.

30 25 20 LOM average 15 grade G/t 10 5

0 For personal use only use personal For

Unity Mining Limited 20 Tasmanian exploration pipeline

Expanding current resources of 318,000 oz. Newton Lakeside Zone 96 Aurora Drill Target Moxon Read Zone Henty Down-Dip Platter Read Zone & Henty South Target Definition Red Hills Farrell

Ten Mile Creek Moxon For personal use only use personal For

Unity Mining Limited 21 2012 exploration program

• 3-4 rigs, spending $6-10M/year • Newton Zone – 120 koz resource open at depth

• Red Hills – New gold zone defined

• Aurora – 1.5 km anomaly north of Henty

• Moxon – Testing 3 new target zones

• Henty South

For personal use only use personal For – Discovery of new alteration zone

Unity Mining Limited 22

Newton Zone – continuing to grow at depth For personal use only use personal For

Unity Mining Limited 23 Henty regional targets

• Large tenement package

– Multiple targets

• 35km of strike coverage

• Economic gold intercepts at Lakeside

– 4.7 m at 5.9 g/t gold

– 3.0 m at 3.0 g/t gold

– Initial resource estimate of 66 koz based on historic drilling

• Historic lead/zinc mine at Farrell For personal use only use personal For

Unity Mining Limited 24 Conclusion

• Henty is a growing gold producer

– FY11 Production of 35,728 oz/y at $1105/oz incl. royalty

– Dec Qtr production of 17,569 oz at $757/oz

– Future production rate set to increase as ore is sourced from higher-grade, lower royalties zones such as Newton, reducing cost/oz

– Development capex well advanced to support 4 year mine life

• Transformational growth potential

– Exploration spend of $6-10M per year

For personal use only use personal For – Multiple targets to test on highly prospective tenements

Unity Mining Limited 25

Thank you For personal use only use personal For

Unity Mining Limited 26