Bci Minerals Ltd · ASX:BCI

Bci Minerals — BC Iron — RIU Explorers Conference 2009

22 slides from Bci Minerals's conference presentation, Feb 18, 2009

1. Slide 1: RIU Explorers Conference

   For personal use only RIU Explorers Conference Fremantle, WA February 2009 Mike Young Managing Director

2. Slide 2: Company and Nullagine Project overview

   For personal use only Company  Listed ASX December 2006 - Maiden resource March 2008  Meas & Ind Resource Jan 2009 – DFS June 2009  Major shareholders  ConsMinerals and Alkane Resources  Offtake agreement with Tennant Metals Nullagine  Resource 46Mt @ 57% Fe and low Al2O3 and P Project  Feasi

3. Slide 3: Board and Management

   BOARD AND MANAGEMENT For personal use only Board Tony Kiernan Chairman (Non-executive) Mike Young Managing Director Non-executive Directors Garth Higgo Business Development Terry Ransted Consulting Geologist Steven Chadwick Consulting Metallurgist Management Simon Storm Company Secretary Blair Dunca

4. Slide 4: Capital Structure

   CAPITAL STRUCTURE For personal use only Shares on issue 59.4 Options 5.7 Fully Diluted 65.1 Market Cap Diluted $32M 1.75 Top Shareholders Number % Total 1.75 Consolidated Minerals 15.6 26% Warrigal Well with 40 m iron ore cliffs in background Alkane Resources 9.0 15% UBS Wealth Management 3.1 5.2% T

5. Slide 5: Projects Location

   PROJECTS LOCATION For personal use only Nullagine Project  1500 km2 holding in Pilbara  Adjacent to existing infrastructure Bungaroo Creek Project  Adjacent Rio’s Bungaroo CID  Greenfields project  Awaiting grant of tenure 5

6. Slide 6: Nullagine Project

   NULLAGINE PROJECT For personal use only Bonnie Creek CID  46Mt DSO 57.0% Fe (64% CaFe)  60 Mt DSO 56.0% Fe present  Ultra-low P, High quality sinter blend  Adjacent to FMG operations Nullagine River CID  DSO & upgrade CID (~5 Mt) Shaw River CID  Potential DSO, upgrade & detritals 6

7. Slide 7: BC Iron's Strategy

   BC IRON’S STRATEGY For personal use only Bonnie Creek Project  Startup/Ramp up 1.5/3/5 Mtpa  CapEx A$30-40M  OpEx ~$40/tonne FOB  Very low strip ratio – ore at surface  Terrain leveller surface miner  In-pit secondary crushing  Road haul to Christmas Creek/ Cloudbreak  Expand capacity from c

8. Slide 8: Bonnie Creek Mineral Resource

   BONNIE CREEK– Mineral Resource For personal use only Total Mineral Resource Estimate – January 2009 DSO Resource Estimate Class Mt Fe CaFe SiO2 Al2O3 P S LOI1000 Measured 1.7 57.0 64.8 3.50 2.10 0.02 0.02 12.0 Indicated 41.2 57.0 64.7 3.10 2.10 0.02 0.01 12.0 Inferred 3.3 56.8 64.5 3.40 2.10 0.02 0.

9. Slide 9: Pilbara Fines Peer Comparison

   IRON ORE DEPOSITS – Pilbara Fines Peer Comparison For personal use only Element/ Typical BCI CID BHP CID RIO CID FMG Compound Spec Bonnie Ck Yandi Robe R Chichester Fe >57 57.0 58.0 57.0 59.1 CaFe >60 64.7 64.2 62.8 64.0 SiO2 3–5 3.1 5.0 5.7 4.2 Al2O3 < 2.0 2.1 1.3 2.7 2.3 P < 0.10 0.016 0.04 0.04 0

10. Slide 10: Bonnie Creek CID – Outcamp Prospect

    BONNIE CREEK CID – Outcamp Prospect For personal use only 801,000E 802,000E 803,000E 804,000E 805,000E 7,562,000N 7,561,000N Scale 500 m Outcamp-Warrigal  38 Mt at 57.0% Fe (64.7% CaFe)  Low strip ratio  Outcropping mineralisation 10

11. Slide 11: Bonnie Creek CID – Outcamp Prospect

    BONNIE CREEK CID – Outcamp Prospect For personal use only Conceptual ‘pit’ outline Regional surface  Shallow “pits” mainly above surrounding plains - mining ore from day 1 Above water table - lower environmental impact Low OpEx - low strip ratio, use of surface miners 11

12. Slide 12: Bonnie Creek CID – Warrigal Well

    BONNIE CREEK CID – Warrigal Well For personal use only  Ore body at top of hills, no mining below surface Accessible by 4 WD along length of ore bodies Simple surface mining, very low strip ratios 12

13. Slide 13: Bonnie Creek CID – Mining

    BONNIE CREEK CID – Mining For personal use only VERMEER TL1255 Terrain Leveller  Drill & Blast not required  Primary Crushing not required  Mine Haul Trucks not required VERMEER TL1255 operating at Cloud Break (FMG) – photo by BC Iron 13

14. Slide 14: The Right Mill - Blast Furnace

    THE RIGHT MILL - BLAST FURNACE For personal use only Blast furnace • Iron ore & coal are added at the top in alternating layers – lump & coke only • Hot air is blasted into the bottom of the furnace • Rising gases provide environment for reducing the iron oxides – Fe2O3  FeO • Descending burden mel

15. Slide 15: Niche Product – Sinter Feed

    NICHE PRODUCT – SINTER FEED For personal use only Sintering  All iron ore mines produce a lump (6 – 30 mm) and a fines (< 6 mm) product  Only lump ore can be used in the blast furnace  Synthetic lump is made by from fines by high temperature agglomeration - sintering  Optimal physical properties

16. Slide 16: Sintering Quality

    SINTERING QUALITY For personal use only Sintering Qualities of BCI Ore  Independently tested in China – Shandong Uni  Blended with a typical fines sinter feed  Using 0, 10, 20, and 30% blend  Resulted in increased quantity and quality of sinter – “First Class”  Test work results:  Increased si

17. Slide 17: Infrastructure

    INFRASTRUCTURE For personal use only Infrastructure Strategies  Rail Haulage with FMG/TPI  Port access via TPI Anderson Point - 2009  Port access via Utah Point facility - 2010  Port access via planned NWIOA facility - 2012  Rail Access under TPI State Agreement using contract haulage by a rail

18. Slide 18: Marketing

    MARKETING For personal use only Marketing Offtake  Offtake agreement with Tennant Metals  25% Offtake to Tennant as Principal or Agent  Mechanisms for increased offtake  Australian company – Australian bank payments  BC Iron Ore Marketing Strategy  Sinter blend – value add product  Ultra-low

19. Slide 19: Bonnie Creek Project

    BONNIE CREEK PROJECT For personal use only  Baseline Environmental Surveys Completed  Infill drilling Completed  Resource Estimate Completed  Feasibility Study First Half 2009  Mining Approvals First Half 2009  Construction commences Second Half 2009  Production First Half 2010 2H 2008 1H 200

20. Slide 20: Bonnie Creek Project

    BONNIE CREEK PROJECT For personal use only  Mineable Resource ✓ Pisolite Fines, low contaminants, “ULP"  Mining & Heritage Approvals ❐ Surface mining, no pit, above water table  Profitable Mining Methods ✓ Surface miner, low strip ratio, ore at surface  Infrastructure ❐ Haulage agreement / State

21. Slide 21: For personal use only

    For personal use only This release may include forward-looking statements. These forward-looking statements are based on management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, some of which are out

22. Slide 22: For personal use only

    For personal use only Mike Young, Managing Director Blair Duncan, Operations Manager

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