Syrah Resources Limited · ASX:SYR

Syrah Resources — Shareholder Meeting (December 2011)

38 slides from Syrah Resources's shareholder meeting presentation, Dec 14, 2011

1. Slide 1: Syrah Resources AGM Presentation

   For personal use only SYRAH RESOURCES AGM Presentation 14 December 2011

2. Slide 2: Disclaimer

   For personal use only Disclaimer This presentation contains only a brief overview of Syrah Resources Limited and its associated entities (“Syrah") and their respective activities. The contents of this presentation, including matters relating to the geology of the projects, may rely on various assump

3. Slide 3: Overview of presentation

   For personal use only Overview of presentation  Corporate structure  Board of Directors  Jacana Resources acquisition (incl. project details)  Divestment of Saudi Arabian interests  Lyndhurst project  Proposed exploration plans  Appendices – country information 3

4. Slide 4: Capital structure

   For personal use only Capital structure Jacana acquisition terms: Capital structure after  Issue of 60 million shares + 15 transaction: million options  114,408,333 shares on issue  Payment of $1 million to the original  17,750,000 options on issue vendors of some of the projects Capital raising

5. Slide 5: Board of Directors

   For personal use only Board of Directors Non-Executive Tom Eadie Tom is the Managing Director and Chairman of Copper Strike Limited, a base metal explorer in eastern Chairman Australia. Tom has had over 20 years experience in the junior resource sector, including 11 years at Pasminco as Executive Ge

6. Slide 6: Acquisition of Jacana Resources

   For personal use only Acquisition of Jacana Resources  Dedicated African focused explorer  Balama graphite project has world class potential and well located to infrastructure. Also potential for vanadium credits  Mavuzi project offers scope for high grade uranium plus copper / nickel / molybdenu

7. Slide 7: Diversified portfolio

   For personal use only Diversified portfolio Project Country Area Jacana Equity Commodity Targets Balama Mozambique 109km2 100% Graphite, vanadium, copper, zinc Right to earn Uranium, rare earths, molybdenum, copper, Mavuzi Mozambique 208km2 up to 80% nickel, platinum group elements, gold, silver, li

8. Slide 8: Project Locations

   For personal use only Project Locations:  Tanzania  Zambia  Mozambique  Botswana Key Selection Criteria:  Rapidly developing  Pro-mining  Good infrastructure 8

9. Slide 9: Why Africa?

   For personal use only Why Africa?  Well endowed and one of the most prospective terrains globally  Relatively unexplored with modern exploration techniques  Hosts many new recent large discoveries  Sovereign risk profiles are well accepted and continuing to improve  Legislative regimes are cond

10. Slide 10: Mozambique projects – location

    For personal use only Mozambique projects – location 10

11. Slide 11: Balama – Mozambique (graphite)

    For personal use only Balama – Mozambique (graphite)  Coarse grained flake graphite  Indications of high grade >20%  Strike distance >4 km  Targeting to develop a JORC Resource in 2012  Well located to infrastructure  Drilling to commence after the wet season High quality Balama graphite 11

12. Slide 12: Graphite uses

    For personal use only Graphite uses Now Emerging applications Carbon steel forging Lithium ion batteries Graphite crucibles Fuel cells Refractory bricks Pebble bed nuclear reactors Graphite brake pads Ceramic armour tiles / fibres Valves Oil sand recovery Dry cell batteries Electroconsolidation Grap

13. Slide 13: Graphite market

    For personal use only Graphite market  China supplies 70% of world market  Quality of supply and reserves are declining  EU and USA have named graphite as a critical mineral Source: Industrial Minerals magazine 13

14. Slide 14: Balama – Mozambique (vanadium)

    For personal use only Balama – Mozambique (vanadium) V SAMPLE TYPE (ppm)  High grade vanadium in geochem B1 B2 ROCK ROCK 1430 88 sampling B3 B4 SOIL SOIL 1790 602 B5 STREAM 3440 B6 STREAM 2950  All vanadium samples anomalous B7 SOIL 1280 B8 STREAM 7000 except one B9 SOIL 1170 B10 ROCK 12500 B11 RO

15. Slide 15: Balama – satellite and topography

    For personal use only Balama – satellite and topography 15

16. Slide 16: Coarse flake graphite

    For personal use only Coarse flake graphite 16

17. Slide 17: Balama – Infrastructure

    For personal use only Balama – Infrastructure  240 km west of Pemba port, a deep water port  Daily direct flights from Johannesburg to Pemba  Major road runs directly from the airport / sea port to the project site  Main road less than 1 km south of the project site  Electricity to Balama town

18. Slide 18: Mavuzi – Mozambique (uranium)

    For personal use only Mavuzi – Mozambique (uranium) Historic Drill Results Included:  Mavuzi Mine o 2m @ 3,400 ppm U308 within 8m @ 1,000 ppm U308 (max – 4,600 ppm U308)  Airport o Up to 1,000 ppm U308 within 7m @ 300ppm U308  Kaboazi Creek o Up to 1,300 ppm U308 within 4m @ 500 ppm U308 18

19. Slide 19: Mavuzi – Mozambique (uranium)

    For personal use only Mavuzi – Mozambique (uranium)  Many additional targets based on ground radiometrics  Outcropping davidite at Castro / Inhatobui and other areas  Potential for disseminated uraninite  Untested potential at depth 19

20. Slide 20: Mavuzi – Mozambique (Cu/Ni)

    For personal use only Mavuzi – Mozambique (Cu/Ni)  Numerous anomalies in north  Never been followed up in the field  Some overlapping >250 ppm Cu/Ni anomalies  Researchers compared area to Voisey’s Bay district 20

21. Slide 21: Mavuzi – Mozambique

    For personal use only Mavuzi – Mozambique  Molybdenum  high grade moly in float  Several known outcropping moly occurrences  Rare Earth Elements  in syenites (over several km)  PGE’s  in pyroxenites High grade molybdenite  Magnetite occurrences 21

22. Slide 22: Tanzanian projects – location

    For personal use only Tanzanian projects – location 22

23. Slide 23: Wembere – Tanzania (uranium)

    For personal use only Wembere – Tanzania (uranium)  Closed drainage system  Extensive radioactive calcrete  Airborne radiometric anomaly affirmed by handheld spectrometer  Never drill tested 20 km Wembere radiometric anomaly 23

24. Slide 24: Shikula – Tanzania (coal)

    For personal use only Shikula – Tanzania (coal)  Includes eastern Part of the Galula coalfield  Est. 140 million tonnes bituminous coal on adjoining licence  Potential for coal under cover 24

25. Slide 25: Tanga – Tanzania (mineral sands)

    For personal use only Tanga – Tanzania (mineral sands)  World class Kwale deposit 70 km to north  Mineral sands deposits further to the south  Geology conducive to build up of mineral sands  Previously explored 25

26. Slide 26: Zambian projects – location

    For personal use only Zambian projects – location 26

27. Slide 27: Lunga – Zambia

    For personal use only Lunga – Zambia (Uranium)  18 km long radiometric anomaly with palaeodrainage pattern  Anomalism confirmed by hand held spectrometer (Copper / IOCG)  Area underlain by the Katanga Supergroup (Zambian Copperbelt)  Numerous copper occurrences in region Lunga radiometric anomal

28. Slide 28: Sasare – Zambia (uranium)

    For personal use only Sasare – Zambia (uranium)  Karoo basin in south east Zambia  Along same trend as Mutanga, Chirundu, Kanyemba uranium deposits  Karoo sandstone model  16 km long x 7 km wide radiometric anomaly Sasare radiometric anomaly  No previous drilling 28

29. Slide 29: Botswana – Ngamiland (Uranium)

    For personal use only Botswana – Ngamiland (Uranium)  A number of initiatives underway  Applications for areas been lodged  Calcrete style mineralisation targeted  Very underexplored region of Botwana 29

30. Slide 30: Divestment of Saudi Arabia interests

    For personal use only Divestment of Saudi Arabia interests  Sale of 90% of Saudi subsidiary to Arabian Nubian Resources – a Saudi- Australian investment syndicate  $50,000 option fee received  Subject to due diligence and completion a further $700,000 to be received  Priority entitlement to any

31. Slide 31: Lyndhurst – South Australia (Copper)

    For personal use only Lyndhurst – South Australia (Copper)  Zurich Resources (JV partner) has earned 50%  Zurich making preparations to drill geophysical targets  Two new licences granted over Lyndhurst area  Syrah has no expenditure commitments on these areas 31

32. Slide 32: Targets for 2012

    For personal use only Targets for 2012  Drill Balama and prepare first JORC graphite resource  Field work at Mavuzi and commence drilling high grade uranium targets  Sampling for mineral sands at Tanga  Trenching at Wembere  Ground radiometrics at Sasare  Geochemical sampling at Lunga  Contin

33. Slide 33: Planned Exploration 2012

    For personal use only Planned Exploration 2012 PROJECT NAME ACTIVITY Q1 - 2012 Q2 - 2012 Q3-2012 Q4-2012 BALAMA Resource drilling Metallurgy Resource estimation MAVUZI Review of historical data Mapping Drilling Mavuzi mine area Drilling Castro / Inhatobui Field review of Mo/Cu/Ni targets Field sampl

34. Slide 34: Appendices

    For personal use only Appendices 34

35. Slide 35: Mozambique

    For personal use only Mozambique  Economy currently growing at around 8%  High rates of infrastructure spending  Major coal fields being developed in Tete province Maputo skyline  Ongoing programs of economic reform and privatisation 35

36. Slide 36: Tanzania

    For personal use only Tanzania  8 consecutive years of +6% growth  East Africa’s second largest economy  Major regional port hub  Government committed to reform  Mining one of the key New road being developed from Tanzania to Kenya economic drivers 36

37. Slide 37: Zambia

    For personal use only Zambia  Economy growing strongly >6.5% for 2010  Democracy since 1991  One of the most stable African countries  Government encourages foreign investment Kariba Dam – one of the largest in the world  Very strong mining culture 37

38. Slide 38: Botswana

    For personal use only Botswana  An African success story  Risen to middle income status within 3 decades  Transparent and low levels of corruption  Democratic since independence Plans for new innovation hub  Pushing diversification of its mining industry 38

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