Slide 1: Mindax Limited Overview – May 2006
MINDAX LIMITED OVERVIEW – May 2006 Strictly Private and Confidential Mindax Energy Pty Limited
Slide 2: Mindax Limited
Mindax Limited ABN 28 106 866 442 ASX Codes MDX, MDXO Listed Perth December 2004 Mindax Energy Pty Limited Issued Shares 51.54 Million Chairman Options (Jun06) 8.75M Gilbert George Shareholders Non- Non-executive Director 454 Nicholas Smith Share Price Managing Director 19c Greg Bromley 52 week trad
Slide 3: Project Areas
Project Areas Tenements total 4,200 km2 Gold – 1745 km2 Uranium – 2410 km2 Nickel – 36 km2
Slide 4: Sandstone Projects
Sandstone Projects Covers 150 km of Edale fault, 2,000 km2 Emerging significant gold >350Koz Au endowment – Troy’ Troy’s Lord’ Lord’s mines (>350 Koz), – Mindax’ Mindax’s Paradise Bore resource (>36 Koz) Targets defined by geochemistry, structure Drill program of 10,000 metres underway >36Koz Au Lak
Slide 5: Meekatharra Projects
Meekatharra Projects On structure to the north of 5 Moz of historical production (Paddy’s Flat and Bluebird) Wide spaced previous exploration but extensive shallow cover Drill targets defined from past drilling and structural analysis Drill program totalling 6,000m due in May
Slide 6: Mt Alexander
Mt Alexander Very strong EM target over 200m+ along strike, east dip Classical embayment in cumulate ultramafic Weak magnetic character may indicate pyrrhotite/pentlandite Surface sample of 129ppb Pt Nearby nickel sulfides in Western Areas (BHPB) ground to west
Slide 7: Lake Noondie
Lake Noondie Yeelirrie U channel Strong airborne radiometric response 20 km length all secured Compares well to Yeelirrie signature U/Th Ratio
Slide 8: Noondie Geochemistry
Yeelirrie Waters background 5- Noondie 5-10 ppb U near ore 100- 100-450 ppb U in ore 1200 ppb U Geochemistry Surface vales to 60 ppm U Water values to 195 ppb U
Slide 9: Lake Noondie
MINDAX LIMITED Lake Noondie a DAKE NOONDIEIUTH RATIONMAGES aoe fi TS. \ A &’S 0
Slide 10: Avon Project
Avon Project Avon Joint Venture with Quasar Resources Pty Ltd – (Affiliated company of Heathgate Resources) Only Heathgate relationship away from Beverley minesite 2006 budget of $220,000 approved Collaborative Research Project with CRC LEME – Existing sampling database – Sampling, analytical and mo
Slide 11: Avon JV Tenure
M MINDAX ENERGY PTY LIMITED hy 100, 100 km? i Neat & Norseman pe \ WAL RUB fies en 280 AVON JV TENURE COLLABORATIVE URANIUM PROJECT
Slide 12: Avon Joint Venture Prospects
Avon Joint Venture Prospects Prospect U in water (ppb) 1 193 2 953 3 184 4 449 5 271 6 298 Yeelirrie Waters 7 338 background 5- 5-10 ppb U 8 347 near ore 100- 100-450 ppb U in ore 1200 ppb U
Slide 13: Mukinbudin Prospect
Mukinbudin Prospect Palaeodrainage, Palaeodrainage, analogous to Yeelirrie etc 97 linear km of drainage Continuity of +100 ppb U values Max 960 ppb U Yellow 100-500 ppb U Red 500-1000 ppb U
Slide 14: Technical Rationale
Technical Rationale CRC LEME had already generated exceptionally anomalous values to 950 ppb U in water U Isotopic data already suggests proximity to mineralisation Emerging re-interpretation of terrane geology – Younger metal rich intrusive systems – Evidence of thrust tectonics Potential for prima
Slide 15: Market
Market Late April ‘06 Company Raised Sold % EV $M Current Current $M Share Market Price $ Cap $M Encounter 4.0 36.4 10.9 0.60 33.0 Hindmarsh 0.6 10.0 6.0 1.35 28.0 Global 3.0 37.0 8.1 0.60 24.0 Uranex 8.8 57.3 15.4 0.88 67.0 Mindax 3.5 37.9 9.2 0.16 7.3 0.65 30.0 0.22 11.0
Slide 16: Mindax offers investors
Mindax offers investors Low acquisition cost projects in areas of under-rated exploration potential New projects with very strong gold, uranium and nickel prospectivity Exclusive exposure to a high quality uranium exploration and production group Ongoing development of new targets Low risk/high retu
Slide 17: Near Term Activity
Near Term Activity Drilling Gold Targets adjacent to Lord’s Mines on Edale Structure (1Moz potential) - current Drilling planned for gold targets at Meekatharra North along structure from Paddy’s Flat and Maid Marion (+ 1Moz potential) - mid-late May Drilling planned for Mt Alexander nickel sulfide