Slide 1: Developing World Class Coal Deposits
Aspire Mining cialis (ABN 4 | 4 46 122 41 17 vA 24 3) Developing World Class Coal Deposits Ovoot Coking Coal Project - Mongolia August 2010
Slide 2: For personal use only
The purpose of this presentation is to provide general information about the Ovoot Coking Coal Project. Unless otherwise stated herein, the information in this presentation has been based on information provided by the Vendor of the Project. Certain statements in the presentation are or may be “forw
Slide 3: Aspire Mining overview
4 ASRIRE » Three Mongolian coal projects: — Ovoot Coking Coal Project (100%) — Nurant Coal Project(100%) — Shanagan Joint Venture (51% Earn in) * QOvoot Coking Coal Project * Large coal project with initial indications of high quality coking coal - Targeting a maiden JORC Compliant Resource by 44 qu
Slide 4: Capital Structure
Capital Structure Share Price Performance $0.20 4 fr 50m 40m $0.15 - 9 30m 2 & $0.10 - | 3 0 | $ 5 © 20m BS : a $0.05 ~ | r 10m $0.00 Le asda atts kee Om Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Trading Snapshot 12 Month High (20 Apr 10) § 0.17 12 Month Low (14 Jul 09) $ 0.02 12 Month Average $ 0.07 VWAP
Slide 5: Board of Directors
ee SS aa Aa ciRe = David McSweeney LLB, MAICD - Chairman * Over 20 years experience in the resources sector, a founder of Gindalbie Metals, Exec- Chairman of Avalon Minerals Ltd, Non Executive Director of Bauxite Resources Ltd David Paull B.Com, FSIA, MBA (Cornell) - Executive Director ° Over 20 yea
Slide 6: Coal Pricing
Coal Pricing 400 350 300 250 200 a= SPOt HCC f) oe HCC ——— PC! — Sscc Jul-04 - May-05 - Mar-06 + Source: CRU, UBS Research (includes forecasts) Structurally Higher Prices — HCC Premium 80 Millions Tonnes b oO Coking Coal Net Imports 30 -— 20 + 10 — oO: 2009 2015 Source: AME, Wood Mackenzie, mChina m
Slide 7: For personal use only
Russia a f / son j r & ¢ ee, | y) PR f NAY & Ce m45°N SS / iy eo \ o Ovoot Coking Coal Project RUSSIA aS Mongolia China Khuvsgul Moron o.— Nurant Coal Project \ Legend } { = aa AKMLeases| Doayhan f g ~yY Po @ City | | 3 PNK Railway - a 7 a
Slide 8: Ovoot Coking Coal Project
Large 500 km? + tenement | position 100% owned by Aspire Adjacent to existing small scale open cut coal mine supplying local villages Current exploration drilling focussed on less than 5% of total project area Open cut and underground |*- S resource potential identified N Potential major new coking
Slide 9: Adjacent Mogoin Gol Coal Mine
= Inspection of adjacent Mogoin Gol Coal Mine = Ovoot Project is the down dip extensions of same seam
Slide 10: Ovoot exploration target
= Ovoot Coking Coal Project acquired from Mongolian partner in February 2010 * Historical drilling (8 holes) indicated presence of coal = First exploration target within a defined envelope of 4 kms x 2.5 kms = Currently 22 holes completed within target ¢ 18 holes have intersected coal in multiple se
Slide 11: Initial target drill hole map
Basin Only 5% of Ovoot in Initial Tar = = = = DH225 3 E 3 3 3 3 Sf ra [ coHa@tem | nee 4 + | Above Target Depth) | 5,470,000 oe es =“ DH227 DH226 @ e No Coat | 2.0mCoal Seam DH217 On @ 157.8 Eee im Seam | + + 5,469,000 alttoeesoy DH225 an DH221 ES DH2t1 DH204 x ET 1.180 coer soame | r ~ Gi9.20t0 201
Slide 12: Indicative coal quality
= Indicative coal quality parameters from historical work suggest a high rank coking coal e Low moisture ° High vitrinite and reflectance ¢ High swelling number (CSN) Comparisons used are raw drilling results (Ovoot) versus beneficiated product Ash averages at 13.8% prior to washability testing = Fl
Slide 13: Funded Drilling Program Underway at Ovoot
Funded Drilling Program Underway at Ovoot ye Drill program underway targeting a large first stage JORC Compliant Resource « Drill hole spacing 750 m over a 4 km by 2.5 km area " Geophysical surveying to provide additional drill targets * 50 sq km ground magnetic program completed # 2-D Seismic Progr
Slide 14: Nurant Coal Project
Aspire Mining Limited y—N erates ¢ Aspire holds project 100% ¢ 200 sq km exploration project covering interpreted basin ¢ 35 km of strike along coal occurrences ¢ Drilling and trenching planned for 4° Quarter ¢ Good Location: — Just 40 kms from provincial capital of Moron — Would access proposed Ovo
Slide 15: Nurant Coal Project geology
m= Fault - Inferred Nurant Coal Project Ee 5 10 a kilometres Crushed stones, sand and mud (alluvial) Khustai formation: rhyolite, trahyrhyolite, dacite and tuffs with andesite Crushed stones, sand and mud (delluvian and proluvian} Sandstone-siltstone with mudstone and coaly siltstone Deed Nuur seam:
Slide 16: Regional Coking Coal Peer - Elegest
Regional Coking Coal Peer - Elegest ye « Nearest large scale deposit = Approx 350 kms northeast of Ovoot Project in Russian republic of Tuva " Owned by Russian OPK and Mitsui =» 900 mt reserve defined Highwall Mining at Elegest = Production increasing from 2 mtpa | ass RUSSIA to 12 mtpa for export o
Slide 17: Rail options to market
« Rail options to market being investigated # China, Japan, Korea logical sales destinations # Significant resource driven development of rail: * 1000 km link from Tavan Tolgoi to Trans Siberian Railway approved ¢ Rail link from Mongolian Chinese to Shenyang under construction =—__ Moron YO Nieuw Ei
Slide 18: Rail path analysis
" Calibre Rail reviewed a number of options to connect Ovoot to coal export markets « Multiple potential users of rail between Moron and Erdenet * Rail path analysis identified a preferred and feasible: * 162 km rail path to Moron * 390 km rail path from Moron to Erdenet | ae a ee g : i 7) AkM Lease
Slide 19: Upcoming milestones
= Establish a large initial JORC Compliant Coal Resource ¢ 4th Quarter 2010 Compete coal quality testwork to establish washing yield, indicative product specifications and coking properties ¢ 4th Quarter 2010 Develop additional resource targets for 2011 program to build larger resource Develop infra
Slide 20: Summary
= Ovoot Coking Coal Project ae ° Drilling results point to a new large Coal Project * Staged exploration programme to build a larger resource base ¢ Other drill targets identified in Project area ° Initial JORC Compliant Resource expected in 4 Quarter 2010 ¢ Coal quality test work underway, results
Slide 21: Contact Details
ASPIRE EE LTD Contact Details : David Paull: tel: +61 8 9381 1995 mob : +61 (0) 407 22 5291 email: david@aspiremininglimited.com
Slide 22: Competent Person statement
The information pertaining to the technical content of this announcement has been reviewed by Mr Neil Lithgow, who is a member of the Australian Institute of Mining and Metallurgy. Mr Lithgow has sufficient experience in collating and reviewing information relevant to the style of mineralisation and