Equatorial Resources Limited · ASX:EQX

Equatorial Resources — Investor Presentation (September 2010)

21 slides from Equatorial Resources's investor presentation, Sep 13, 2010

1. Slide 1: Emerging Iron Ore Projects in Central West Africa

   Emerging Iron Ore Projects in Central West Africa For personal use only ASX: EQX Company Presentation SEPTEMBER 2010

2. Slide 2: Disclaimer

   DISCLAIMER For personal use only • This document should be read in conjunction with any public announcements and reports (including financial reports and disclosure documents) released by Equatorial Resources Limited. • This document has been prepared as a summary only, and does not contain all info

3. Slide 3: Corporate Structure

   CORPORATE STRUCTURE ASX EQX ASX: For personal use only EQUATORIAL RESOURCES LTD (ASX: EQX) @ SEPTEMBER 2010 Fully Paid Ordinary Shares 65.2 million Market Capitalization Undiluted (@ A$0.62) A$40.4 million Unlisted Options 11.6 million (Various Expiry and Exercise Prices) Vendor Milestone Shares 2 0

4. Slide 4: 100% Ownership of Two Potentially Large-Scale Iron Ore Projects in Republic of Congo

   100% OWNERSHIP OF TWO POTENTIALLY LARGE‐SCALE IRON ORE For personal use only PROJECTS IN REPUBLIC OF CONGO World Class Location  Projects located close to major industry players in an emerging g g gglobal iron ore province p (>500Mtpa ( p pipeline) Mayoko‐Moussondji Iron Ore Project  Large scale p

5. Slide 5: Central & West African Iron Ore: Production Pipeline

   CENTRAL & WEST AFRICAN IRON ORE: PRODUCTION PIPELINE For personal use only The Next Global Iron Ore Province 1  Regional distribution of undeveloped world class high grade iron ore deposits  Potential to supply up to 25% of global supply by 2020 (>500Mtpa)*  Steell manufacturers f keen k to sourc

6. Slide 6: Central & West African Iron Ore: Existing Transport Infrastructure?

   CENTRAL & WEST AFRICAN IRON ORE: EXISTING TRANSPORT INFRASTRUCTURE? For personal use only Transport infrastructure (rail & port) is key to unlocking the regional potential 2  Only 4 project areas with potential to be serviced by existing transport infrastructure  Availability of existing transport

7. Slide 7: Republic of Congo (Congo Brazzaville)

   REPUBLIC OF CONGO (“CONGO BRAZZAVILLE”) For personal use only Stable country attracting multi‐billion dollar investment  Former French colony that celebrated 50 years of independence in August 2010  Stable, single party government of President Denis Sassou‐Nguesso. Re‐elected in 2009 for a further

8. Slide 8: Mayoko-Moussondji Iron Ore Project (MMIP)

   MAYOKO‐MOUSSONDJI IRON ORE PROJECT “MMIP” For personal use only Massif du Chaillu formation  Achaean granitic terrain extending from ROC north into Gabon  Hosts multiple large sedimentary iron ore deposits including Zanaga (Xstrata/MDP)  Similar to the Banded Iron Formations (BIF) in Australia Op

9. Slide 9: MMIP: 1000km² of Highly Prospective Ground

   MMIP: 1000km² OF HIGHLY PROSPECTIVE GROUND For personal use only Significant scale potential  Two prospects: Mavendi & Makengui  Combined 9km of elevated ridges prospective for hematite and magnetite‐rich itabirite mineralisation  Located adjacent to DMC Mining’s Mining s Mayoko Project (1.34Bn t

10. Slide 10: MMIP: Significant Exploration Upside

    MMIP: SIGNIFICANT EXPLORATION UPSIDE For personal use only Airborne geophysics program  Completed in August 2010 using high resolution helicopter borne XPlorer magnetic and d radiometric d survey equipment  Covered entire tenement  Interpretation commencing September b 2010

11. Slide 11: Existing Rail Infrastructure

    EXISTING RAIL INFRASTRUCTURE For personal use only Mayoko - Pointe-Noire Pointe Noire Railway Line  Built by Comilog for heavy haulage of manganese ore (1986: 3.1mt)  Capacity is significantly under‐utilised. Currently operates 1 weekly passenger service only.  EUR300M investment program underway

12. Slide 12: Existing Port Infrastructure

    EXISTING PORT INFRASTRUCTURE For personal use only Pointe-Noire Pointe Noire Deep-Water Port  The largest deep‐water deep water port in West Africa: o vital communication axis in equatorial Africa, serving the entire Congo basin including the Democratic Republic of Congo (DRC), Central African Repu

13. Slide 13: Mayoko-Moussondji Work Program

    MAYOKO‐MOUSSONDJI WORK PROGRAM For personal use only A D 2010 Aug‐Dec 2011  August A 2010 2010: Completed C l d  Definition D fi i i off d drill ill targets and d design d i airborne geophysics survey of initial drill program  November 2010: Complete  Negotiation of rail access i interpretation

14. Slide 14: Badondo Project: Emerging Cluster

    BADONDO PROJECT: EMERGING CLUSTER For personal use only Prime location within an emerging cluster of large scale exploration projects  Avima (Core Mining/Severstal): 50km North  Belinga (CMEC): 50km South  Nabeba (Sundance Resources): 80km NE  Mbalam (Sundance Resources): 100km NE Recent entry b

15. Slide 15: Badondo Project: Large Scale Potential

    BADONDO PROJECT: LARGE SCALE POTENTIAL For personal use only Highly prospective geology  Chemical analysis of rock samples collected by BRGM (1964‐1966) revealed iron grades as high as 60.75% Fe, with low phosphate  In 2007, BRGM revisited the prospect and confirmed a ridge line of more than 7km l

16. Slide 16: Badondo Work Program

    BADONDO WORK PROGRAM For personal use only S t D 2010 Sept‐Dec 2011  November N b 2010 2010: C Complete l  Logistics L i i review i and d conceptuall airborne geophysics survey study  December 2010: Complete  Program ground mapping, rock i interpretation i off airborne ib sample l collection ll

17. Slide 17: Capital Markets Experienced Board

    CAPITAL MARKETS EXPERIENCED BOARD For personal use only  Proven development experience in the resource sector • Highly respected resource company executive with significant experience in Ian Middlemas company building in emerging markets Non‐Executive Chairman • Currently Chairman of a number of AS

18. Slide 18: Experienced Management Team

    EXPERIENCED MANAGEMENT TEAM For personal use only  Proven operation and development skills; finance and operating experience within major mining houses • Geologist with 30 years exploration and mining experience across a wide range of Roger Staley commodities and mineralisation styles Country/Explo

19. Slide 19: Drivers of Success

    DRIVERS OF SUCCESS For personal use only • Stable government, • Access to French majors Total operational and Eni active in railway and port ROC for decades infrastructure • Chinese and Russian • 100% owned manufacturers keen projects located in to source alternative the Massif du cost competitive C

20. Slide 20: Equatorial Resources

    EQUATORIAL RESOURCES For personal use only  Two 100% owned potential large scale iron ore projects  Emerging global iron ore province  Unparalleled access to infrastructure  Significant g upside p potential p  Low sovereign risk  World class management team and board with proven track record o

21. Slide 21: Equatorial Resources Contact Details

    Emerging Iron Ore Projects in Central West Africa For personal use only ASX: EQX Equatorial Resources Limited | ASX:EQX ASX EQX Headquarters: Level 9, BGC Centre, 28 The Esplanade, Perth, WA 6000 Phone: +61 8 9322 6322 | Fax: +61 8 9322 6558 Republic of Congo Office: 221 Route De La Frontiere Quarte

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