Slide 1: Alford West Prospect – One Year On
For personal use only ALFORD WEST PROSPECT – ONE YEAR ON Presented by Chris Drown, Managing Director 6 – 8 May 2014 Focused on growing shareholder value
Slide 2: Contents
For personal use only Contents Section Slides 1. Company Overview 3 to 7 2. Moonta Copper-Gold Project 8 to 24 3. Other Projects 25 to 27 4. Disclaimer, Competent Person’s statement 28 and JORC statements Focused on growing shareholder value 2
Slide 3: Corporate statistics
Corporate statistics Clean capital structure with solid support from shareholders, well positioned for For personal use only future growth ASX ticker ADN First listed on ASX September 1996 Ordinary shares on issue 229.1m Unlisted securities 3.8m performance rights Share price (as at 30 April 2014) A
Slide 4: The Board and Senior Management
The Board and Senior Management Deep technical expertise across key disciplines provides outstanding platform for For personal use only discovery success The Board Senior Management Mike Hatcher Non-Executive Chairman Chris Drown Managing Director (also Geologist on Board) • Geologist with over 40 y
Slide 5: Company highlights
Company highlights Quality suite of copper and gold prospects and a team that can deliver For personal use only • Strict copper and gold focus • Recognised discovery track record ― Greenfield finds and the identification of opportunities Rover left by past explorers Gold/Copper Drummond • Board and
Slide 6: Company highlights (cont.)
Company highlights (cont.) Prudent cash management track record with high “in-ground” expenditure For personal use only demonstrates strong focus on shareholder returns • Exploration as a proportion of total admin and exploration expenditure has averaged c.80% over the last five years Adelaide Resou
Slide 7: Company highlights (cont.)
Company highlights (cont.) Track record, experience and balanced exploration portfolio provide a strong For personal use only foundation and share price support… Current base Bright future • Clean capital and operating • Focus on Moonta Project which structure differentiates Adelaide continues to pr
Slide 8: Moonta Copper-Gold Project
Moonta Copper-Gold Project Continued positive drilling results and enormous potential at new era copper play For personal use only in historic copper mining region • 100% owned tenement1 within highly prospective Moonta-Wallaroo district on South Australia’s Yorke Peninsula • In the Olympic Copper-G
Slide 9: Olympic Copper-Gold Province
Olympic Copper-Gold Province Vast majority of land in the OCGP where exploration is allowed is currently held by For personal use only Adelaide Resources or other miners • The best endowed copper belt in Australia ― c.75% of the known copper Resources in Australia • Current Mineral Resources include
Slide 10: Olympic Copper-Gold Province – deposit depth
Olympic Copper-Gold Province – deposit depth The Yorke Peninsula has some of the shallowest cover anywhere along the entire For personal use only OCGP A • In particular, the Moonta Project deposits Prominent Hill (100m) generally have less than 10m of cover Vulcan (900m) ― Significantly less cover t
Slide 11: Moonta Copper-Gold Project – typical terrain and cover
Moonta Copper-Gold Project – typical terrain and cover Ubiquitous but thin sediment cover has hidden deposits from previous explorers in For personal use only region, leaving significant opportunities for Adelaide Resources Typical exploration terrain Poona Pit (decommissioned copper mine within pro
Slide 12: Historical drilling in the Moonta Copper-Gold Project area
Historical drilling in the Moonta Copper-Gold Project area In a period of unprecedented copper prices, historical exploration data for the For personal use only Moonta Project is helping to uncover new opportunities • Historical exploration in the Moonta Project area was dominated by well funded com
Slide 13: Historical drilling in the Moonta Copper-Gold Project area
Historical drilling in the Moonta Copper-Gold Project area Alford West targeted through investigation of open file South Australian For personal use only Government report • 10m at 2.3% Cu from 59m in old Alford hole AL11 can be seen below Focused on growing shareholder value 13
Slide 14: Alford West – one year ago
Alford West – one year ago One year ago detailed drilling had explored only about 10% of the strike length of For personal use only the historical auger copper geochemical anomaly. • ADN had drilled its first 25 Drill coverage of the initial Alford West target – April 2013 aircore holes at Alford We
Slide 15: Alford West – months on
Alford West – 12 months on As exploration continues, the positive results continue to flow For personal use only • Digital capture of the historic Drill coverage of the expanded Alford West target – April 2014 auger geochemistry, combined with the innovative application of FPXRF soil geochemistry ha
Slide 16: Alford West – 2013 drilling results
Alford West – 2013 drilling results Continued drilling leading to sustained success For personal use only Selected Alford West drilling highlights – high grade copper and gold Notable intersections Notable sub-intersections Hole name Final depth (m) From (m) To (m) Copper Gold (g/t) From (m) To (m)
Slide 17: Alford West – new 3D mineralisation model
Alford West – new 3D mineralisation model • Alford West and satellite targets part of one giant mineral system For personal use only • Four internal zones show potential to contribute to a Mineral Resource • All four zones remain open at depth (and along strike for some zones) • Dimensions confirm a
Slide 18: Alford West – confidence in depth potential
Alford West – confidence in depth potential • Alford West zones all remain open at depth For personal use only • A mineral system of such significant horizontal dimension can be expected to also have significant vertical dimension • The nearby Wombat Prospect persists to over 600 metres below surfac
Slide 19: Alford West – discovery of new Six Ways Zone
Alford West – discovery of new Six Ways Zone 2014 drilling has discovered a new high grade copper target 1,000 metres southwest For personal use only of 2013 drilling • Mineralisation in Alford Drill section 752,100mE West aircore hole ALWAC171 commences from 7m downhole, a vertical depth of just 6m
Slide 20: Alford West – Mineralisation model proves its predictive capacity
Alford West – Mineralisation model proves its predictive capacity Recent success at the Larwood Zone For personal use only • Previous drilling on section 753,880mE had returned Drill section 753,880mE promising North Lode intersections in ALWAC019 • The mineralisation model predicted that a strong t
Slide 21: Alford West – excellent results upgrade Bruce Zone
Alford West – excellent results upgrade Bruce Zone New results some of the best achieved at the Bruce Zone to date For personal use only • Recent holes targeted using new mineralisation model Drill section 752,750mE • Hole ALWAC261 intersects ― 11m at 1.52% Cu • Last 2 metres of hole returns ― 2m at
Slide 22: Alford Copper Belt
Alford Copper Belt Historical data and exploration programs undertaken by Adelaide Resources show For personal use only Alford Copper Belt to be a highly prospective corridor • Other prospects North Wallaroo, Wombat, Black Oak, Prospect 4, Prospect 43, Prospect 3 and Alford East (SFR) are also on th
Slide 23: Moonta Copper-Gold Project – other prospective areas
Moonta Copper-Gold Project – other prospective areas FPXRF is delivering significant new drill targets in a cost-effective and time-efficient For personal use only manner • 1970s WMC/NBH auger geochemistry testing FPXRF surveyed area (early 2014) does not give total coverage of project • Despite thi
Slide 24: Moonta Copper-Gold Project – summary
Moonta Copper-Gold Project – summary The last 12 months has seen the Moonta Copper-Gold Project achieve an important For personal use only milestone along its journey to delivering shareholder value • Shallow aircore drilling has been completed over the majority of the much enlarged target area at A
Slide 25: Drummond Epithermal Gold Project
Drummond Epithermal Gold Project Rock chip samplingconfirms widespread anomalous gold in vein material For personal use only • 100% owned • Maximum result of 55.4g/t gold from South West Limey Dam prospect (picture below) • Vein textures and presence, signature epithermal pathfinder elements and pet
Slide 26: Rover Gold-Copper Project
Rover Gold-Copper Project A strategic, highly prospective land position in the re-emerging Tennant Creek district For personal use only • 100% owned • High grade system of substantial dimension on Adelaide Resources’ ground at Rover 1 ― Neighbour Metals X has been granted approval to establish an ex
Slide 27: Eyre Peninsula Gold Project
Eyre Peninsula Gold Project Large ground position in the Central Gawler Gold Province of South Australia For personal use only • 100% owned1 3,894km2 project with three gold deposits – Barns, Baggy Green and White Tank ― Project also considered prospective for copper, silver and graphite • Environme
Slide 28: Disclaimer, Competent Person’s statement and JORC statements
For personal use only Disclaimer, Competent Person’s statement and JORC statements Disclaimer The information in this presentation is published to inform you about Adelaide Resources Limited (“Adelaide Resources” or the “Company”) and its activities. Some statements in this presentation regarding es