Australian Mines Limited · ASX:AUZ

Australian Mines — Shareholder Meeting (November 2007)

22 slides from Australian Mines's shareholder meeting presentation, November 2007

  1. Slide 1: Australian Mines Limited Annual General Meeting

    Australian Mines Limited Annual General Meeting November 2007

  2. Slide 2: Disclaimer

    Disclaimer The material used in this presentation is intended to be a summary of operational and geological activities, that are current and proposed based on the information available to Australian Mines Limited at the time. This presentation may also contain “forward-looking statements”, which are

  3. Slide 3: Corporate Information

    Corporate Information Directors „ Neil Warburton - Chairman „ Mick Elias - Non Executive Director „ Brett Young - Chief Executive Officer Issued Capital 455m shares on issue Share Price $0.09 Market Cap ~ $40 million

  4. Slide 4: Projects

    Projects WESTERN AUSTRALIA an i > ‘Meekatharra Wiluna Marriott’s Project| Laverton \ Geraldton Blair Project | 250 km

  5. Slide 5: Introduction

    Introduction „ Current Cashflow Blair nickel mine „ Future Growth „ Blair Mine „ Marriott’s Nickel Project „ Gold Assets „ Exploration Potential „ Blair Regional Exploration „ East Location 45 „ Bounty Nickel Project

  6. Slide 6: Blair Mine - Background

    Blair Mine - Background „ Located 32 km south-east of Kalgoorlie, WA „ Historical production „ 1.2 mt ore at 2.6% Ni for 31,000 tonnes of Ni metal „ Closed 2001 due to low Ni price „ Re-opened by AUZ in Nov 2003 „ Resources at 30 June 2007 stand at 105,000t at 4.9% for 5,100 contained Ni tonnes „ Re

  7. Slide 7: Blair - Near Mine Potential

    | sss310mn sere2000 ss7010m01 0 6 100m Blair - Near Mine Potential GOD83 0.2m @ 9% Ni GOD65 0.12m @ 6.9% Ni | GODE3 0.21m @ 2.62% Ni YJ co079 0.97m @ 5.34% Ni 02 Contact Channel Environment GODS59 0.22m @ 2.67% N10 Contact N \ \ i one | \ \ ate \ Area 57 Access Drive LEGEND N [} Tholeiitic Basal [)

  8. Slide 8: Area 57 and L01C Potential

    Area 57 and LOIC Potential Decline Portal LLL SS AMUG212 0.3m @ 3.97% Ni —— ) ay FL = — Interpreted Fault [AMUG202 3m @ 6.76% Ni AMUG208 2m @ 4.6% Ni | ie AMUG209 NSA 7 L01¢ SHOOT —____ 500m BLAIR DEEPS Developing Major 0 250m Decline C—O 1000m—

  9. Slide 9: Blair Deeps Potential

    Blair Deeps Potential Decline

  10. Slide 10: Blair Mine

    Blair Mine „ 2006/07 Year Highlights „ Net Profit (after tax): A$7.2 m „ Cash at Bank 30 June 2007: A$4.2m „ Production: 1093 tonnes contained Ni „ Significant potential for further resource upgrades with extensions of Area57, “L” Shoot and Blair Deeps ore bodies „ Mining life currently at least 2.5

  11. Slide 11: Marriott's Nickel Project

    Marriott’s Nickel Project ƒ World class nickel province ƒ 60 km from Leinster mainly by sealed highway ƒ BHP Billiton mill at Leinster ƒ OTCP agreement in place to treat the ore at Leinster

  12. Slide 12: Marriott's – Metal Accumulation

    Marriott’s – Metal Accumulation

  13. Slide 13: Marriott's – Drill Section

    Marriott’s – Drill Section 3 SUMP SUB No.2 BACK FILL

  14. Slide 14: Marriott's - Summary

    Marriott’s - Summary „ Indicated & Inferred Resource „ 830,000 tonnes @ 1.13 % Ni for 9,400 tonnes contained nickel „ Resource calculated to 160m depth only. „ Resource expected to increase once Phase SUMP 2 drilling is completed in the March Qtr. SUB No.2 „ Metallurgical Testwork „ 5 holes complete

  15. Slide 15: Blair Exploration Project

    Blair Exploration Project „ Tens of kilometres of folded contact „ Positive Geochemistry despite areas of cover „ Multiple Targets with numerous Ni sulphide intersections „ Aggressive exploration „ GRJV Nickel - AUZ 49% „ Loc 45 Nickel - AUZ 100% „ Gold – AUZ 100%

  16. Slide 16: GRJV Progress

    GRJV PROGRESS „ New regolith anomalies from aircore drilling of untested contacts „ Blair South has an Indicated Resource of 151,331 t @ 1.43% for 2,164t Ni

  17. Slide 17: East Location 45

    East Location 45 „ Strong Ni and Cu anomalism in auger drilling „ Past geophysics ineffective „ Goodyear Project „ ore intercepts to 500 metres „ 3m@ 4.9% Ni from 180m depth „ 3.8m @ 7.3% Ni from 500m depth „ Mt. Martin Project „ Both Ni and Au lodes in the workings „ No drilling below 200 metres „

  18. Slide 18: Duplex Hill South Gold Project

    Duplex Hill South Gold Project „ Located 12 km from Blair Mine „ Strong gold mineralisation at Woodline 1 „ 42 RC holes - 2,922 metres „ Shallow open cut „ Low extraction costs „ High-grade gold enriched zone „ Indicated Resource: 132,400t @ 2.88g/t for 12,000ozs „ Mining Reserve: 33,500t @4.59 g/t

  19. Slide 19: DIVERSITY Duplex Hill South

    DIVERSITY Duplex Hill South Quatemary Transported Cover LEGEND Oxidised Dolerite Drill hole number Drill hole trace Significant gold intercept Depth of hole S50ppb contour Dolerite

  20. Slide 20: Gold in Calcrete Anomaly

    = S E F <D) — D) = S) = S Ss) = or ae) = © O e Hole @ AUZ RAB Hol @® AUZRC Hole %*& Historic RAB %& Historic RC Hole WOODLINE NTH WOODLINE 1 WOODLINE STH fu Dosvee} ee

  21. Slide 21: Bounty Nickel Project

    Bounty Nickel Project ƒ Ni rights purchased from Azure ƒ 43 Square km of mining leases ƒ 24 strike km of prospective and largely unexplored ultramafic ƒ 100% coverage with B Field surface EM ƒ Multiple conductors to be tested ƒ Sulphide hits include 3.2m@ 1.2% Ni in BUG029

  22. Slide 22: Summary - Australian Mines

    Summary - Australian Mines „ Strategy „ Increase Blair Mine production. „ Cashflow funding exploration and acquisitions „ Constantly looking for quality projects „ Growth potential with Marriott’s/ Goodyear „ Strong Exploration Focus „ Maximise Gold Assets.

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