Liontown Limited · ASX:LTR

Liontown — Liontown Resources — Corporate Update (October 2011)

23 slides from Liontown's corporate update, Oct 26, 2011

1. Slide 1: Exploration Update

   EXPLORATION UPDATE For personal use only NOVEMBER 2011  5,000m drilling completed Q3 2011  Drilling programs totalling 9,000m in progress  Outstanding gold results intersected in Tanzania, East Africa  Gold +silver targets in North Queensland

2. Slide 2: Disclaimer

   Disclaimer For personal use only 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 Liontown Resources Limited as at 19thJuly 2011. This presentation may contain v

3. Slide 3: Company Overview

   Company Overview  Diversified explorer – East Africa and North Queensland For personal use only  ~14,000m drilling planned for H2 2011  Jubilee Reef JV (North Tanzania):  Lake Victoria Goldfield (Bulyanhulu, Geita)  Outstanding gold results intersected  Mt Windsor JV (North Queensland)  Funde

4. Slide 4: Corporate Snapshot

   Corporate Snapshot For personal use only ASX Code LTR Shares on Issue ~211 million* Market Capitalisation ~$10 million (at 5c) Exploration Portfolio >5,000km2 Major Shareholder Tim Goyder (28%) Top 50 Shareholders >80% * 1:4 rights issue in progress - ~52million shares to be issued  Well positioned

5. Slide 5: Well Credentialed Board and Management

   Well Credentialed Board and Management For personal use only TIM GOYDER: Executive Chairman Over 30 years‟ experience in the resource industry. Involved in the formation and management of a number of publicly listed companies and currently also a director of Chalice Gold Mines and Uranium Equities.

6. Slide 6: Jubilee Reef JV: Key Points

   Jubilee Reef JV: Key Points For personal use only World Class Gold Province (LVGF) – includes Bulyanhulu (~17Moz), Strategic Location Geita (~12Moz) deposits Tenement Area ~60 km2 Geology Archaean greenstones - abundant Banded Iron Formation (BIF) JV Deal/Partner Right to earn up to 75% from Currie

7. Slide 7: Northern Tanzania: World-class gold province

   Northern Tanzania: World-class gold province For personal use only  Jubilee Reef Project: Strategic location in world class Lake Victoria Goldfield 7

8. Slide 8: Jubilee Reef JV: Gold targets – Recent results

   Jubilee Reef JV: Gold targets – Recent results For personal use only Panapendesa Up to 28m @ 2.8g/t Au Masabi Hill Up to 28m @ 3g/t Au 8

9. Slide 9: Jubilee Reef JV: Masabi Hill - Geological setting

   Jubilee Reef JV: Masabi Hill - Geological setting For personal use only  Granite hosted  Largely obscured by shallow cover  2 mineralised zones  Central  Contact  Anomalism open – 5,500m RAB/Aircore drilling program in progress  RC/Diamond programs being planned 9

10. Slide 10: Jubilee Reef JV: Masabi Hill – RC Section A

    Jubilee Reef JV: Masabi Hill – RC Section “A” For personal use only A Significant widths of ore grade (>1g/t Au) material defined beneath extensive zones of lower grade (0.1-1g/t Au) mineralisation intersected by RAB drilling. 10

11. Slide 11: Jubilee Reef JV: Masabi Hill – RC Section B

    Jubilee Reef JV: Masabi Hill – RC Section “B” For personal use only B 11

12. Slide 12: Jubilee Reef JV: Masabi Hill – RAB/Aircore sections

    Jubilee Reef JV: Masabi Hill – RAB/Aircore sections For personal use only D C Section “C” – Contact Zone Section “D” – Contact and Central Zones 12

13. Slide 13: Jubilee Reef JV: Panapendeza Zone

    Jubilee Reef JV: Panapendeza Zone For personal use only Magnetic image showing drill holes and better gold intersections 13

14. Slide 14: Jubilee Reef JV: Panapendeza Drill Sections

    Jubilee Reef JV: Panapendeza Drill Sections For personal use only Section “E” Section “F” Section “G”  Continuous gold mineralisation intersected on multiple sections over +200 metre strike  Open along strike and at depth 14

15. Slide 15: North Queensland: World-class precious/base metal province

    North Queensland: World-class precious/base metal province For personal use only Key Assets Mt Windsor JV  Ramelius can earn 60% by spending $7M in 4 years  >3,500km2  Expenditure to date >$2.0M  3,500m drilling program in progress Panhandle Project  Wholly owned  >1,200km2  >$500,000 budget

16. Slide 16: Mt Windsor JV: Regional Setting and 2011 targets

    Mt Windsor JV: Regional Setting and 2011 targets  Dominant >3,500km2 land position in +20Moz gold province For personal use only  Ramelius Resources can earn up to 60% interest by spending $7M over 4 years  3,500m RC/Diamond core drilling program in progress 16

17. Slide 17: Mt Windsor JV: Drill Targets

    Mt Windsor JV: Drill Targets For personal use only Soil Anomaly Mt Redan/Hill “C”  2km long, multi-element geochemical anomaly including gold and copper  High level indicators (Hg, Sb, As) - top of system?  Interpreted intrusion at depth Buried  No previous drilling Intrusion? Zone of anomalous

18. Slide 18: Panhandle: Historic stream sampling

    Panhandle: Historic stream sampling For personal use only  Multiple silver anomalies defined Mt Carlton  Size and amplitude compare favourably with Mt Carlton response  Only 5 holes drilled previously on entire project area (1,260km2)  1,100m drilling program completed by Spade Dam LTR at Powerl

19. Slide 19: Panhandle: Powerline Silver Trend

    Panhandle: Powerline Silver Trend For personal use only  Part of 7.5km long silver trend  High grade rock values (up to 202g/t Ag) recorded at surface  Diamond drilling indicates large alteration system with associated pyrite-galena-sphalerite developed at depth. Alteration coincident with major

20. Slide 20: Panhandle: Quartz Ridge

    Panhandle: Quartz Ridge For personal use only  Pajingo-style target (epithermal vein)  Beta Zone – 150m NE trending “float train” with multiple gold values of +5g/t and silver values of +50g/t Barren BarrenVeins Veins Beta Zone  “Leakage” indicating target zone at depth  IP survey has confirmed

21. Slide 21: 2011 Exploration: Plan and Objectives

    2011 Exploration: Plan and Objectives Northern Tanzania For personal use only  Jubilee Reef JV (LTR earning 75%) • Targeting Archaean gold mineralisation • 5,500m RAB/Aircore drilling program in progress • RC/Diamond drilling planned to follow recent outstanding intersections North Queensland  Mt

22. Slide 22: Summary

    Summary For personal use only  Exciting exploration portfolio and targets in established mining regions  Outstanding gold results intersected at Jubilee Reef JV in Tanzania  Active exploration campaign planned for 2011/2012 – steady stream of results expected  Tenements prospective for discovery

23. Slide 23: For more information…

    For more information… For personal use only Telephone: (08) 9322 7431 Fax: (08) 9322 5800 Email: info@ltresources.com.au Thank You

Liontown Resources — Corporate Update (October 2011) on 6ix