Slide 1: Presentation at Paydirt 2006 Uranium Conference
9/57 Labouchere Road SOUT H PERTH 6151 Western Australia Telephone 08 9474 3266 Facsimile 08 9474 3299 ABN 28 106 866 442 11 April 2006 Australian Stock Exchange Limited Company Announcements Platform PRESENTATION AT PAYDIRT 2006 URANIUM CONFERENCE We refer to the Company’s announcement of 30 March
Slide 2: Wheatbelt Uranium: Collaborative Exploration in South West WA
Paydirt’s Uranium Conference Adelaide, March 2006 Wheatbelt Uranium Collaborative Exploration in South West WA
Slide 3: Mindax Limited
Mindax Limited ABN 28 106 866 442 ASX Codes MDX, MDXO Listed Perth December 2004 Mindax Energy Pty Limited Issued Shares 46.14 Million Chairman Gilbert George Options (Jun06) 8.75M Non-executive Director Shareholders Nicholas Smith 454 Managing Director Share Price Greg Bromley 13c Company Secretary
Slide 4: Project Areas
Project Areas Tenements total 3,500 km2 Gold – 1745 km2 Uranium – 1712 km2 Nickel – 36 km2
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 April
Slide 6: Sandstone Projects
Sandstone Projects Covers 150 km of Edale fault, 2,000 km2 Emerging significant gold endowment – Troy’s Lord’s mines (>350 Koz), – Mindax’s Paradise Bore resource (>36 Koz) Targets defined by geochemistry, structure Drill program of 10,000 metres underway
Slide 7: Lake Noondie
Lake Noondie Yeelirrie Overall airborne radiometric response >20km long Focus area ~5 km Surface assays to 60 ppm U Drilling pending resolution of heritage issues U/Th Ratio
Slide 8: Lake Noonaie
MINDAX Lake Noonaie LIMITED pS SIM © 50 Ww v
Slide 9: Wheatbelt Project
Wheatbelt Project Joint Venture with Quasar Resources Pty Ltd – (Affiliated company of Heathgate Resources) Collaborative Research Project with CRC LEME – Existing sampling database – Sampling, analytical and modeling expertise
Slide 10: Avon JV Tenure
MINDAX LIMITED ~\ Kalgoorlie e { n-Cross \ mlomel =~" WHEATBELT hs ae COLLABORATIVE AVON JVTENURE 9 SAS URANIUM PROJECT
Slide 11: Co-operative Research Program
Co-operative Research Program CRC LEME (The Co-operative Research Centre – Landscape Environments and Mineral Exploration) is involved in baseline studies of drylands salinization through out Southern Australia. Mindax have entered into a Collaborative Research Project on Uranium in Wheatbelt Waters
Slide 12: Technical Rationale
Technical Rationale CRC LEME had 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 primary hydro
Slide 13: U in Water
After Douglas, Gray and Nobel (CRCLEME) U in Water U distribution in Bores, Drains and Surface of the WA Wheatbelt and US groundwaters
Slide 14: Regional Data: Uranium in Laterites
Regional Data Uranium in Laterites
Slide 15: Deliverables
Deliverables Low cost to Mindax ($25K/yr) – Defrayed cost by virtue of JV (50%) – Co-contribution to project by CRC LEME (~30%) Attractive risk-reward profile Anticipated medium-term return to shareholders
Slide 16: Conclusion
Conclusion Mindax offers investors Low acquisition cost gold projects in areas of under rated exploration potential supported by discoveries Low acquisition cost/high prospectivity uranium exploration portfolio based on similar notions Low risk/high return Exclusive exposure to a high caliber uraniu
Slide 17: Wheatbelt Uranium - Collaborative Exploration in South West WA
9/57 Labouchere Road SOUTH PERTH 6151 Wester n Australia Telephon e 08 9474 3266 Facsimile 08 9474 3299 ABN 28 106 866 442 Wheatbelt Uranium - Collaborative Exploration in South West WA SLIDE 1 THANKYOU FOR THAT INTRODUCTION. I WOULD LIKE TO INTRODUCE YOU TO MINDAX AND DEMONSTRATE THROUGH OUR WHEATB
Slide 18: Slide 3 speaker text
NEARLY 9 MILLION 20c OPTIONS ISSUED WITH THE IPO MATURE IN JUNE. THE REGISTER HAS REMAINED TIGHT WITH 450 SHAREHOLDERS AND TURNOVER IS LOW. THE COMPANY’S PRIMARY OBJECTIVE, CONSISTENT WITH OUR PROSPECTUS, IS TO FUND THE GROWTH OF THE COMPANY FROM CASH FLOW DERIVED THROUGH MINING. WE BELIEVE THIS STR
Slide 19: Slides 4 and 5 speaker text
SLIDE 4 THE MEEKATHARRA NORTH PROJECT LIES IN AN EXTREMELY ATTRACTIVE POSITION AT THE CONFLUENCE OF THOSE MAJOR STRUCTURES THAT CONTROL GOLD MINERALISATION IN THE MURCHISON DISTRICT. THIS IS A SIGNIFICANT PROVINCE WITH PAST PRODUCTION OF AROUND 20 MOZ OF GOLD. SOME 5 MOZ OF THIS COMES FROM PADDYS FL
Slide 20: Slide 6 speaker text
MINDAX HAVE DISCOVERED AND DRILLED NEW GOLD AT CREASY 1 WHERE SUB- ECONOMIC GOLD GRADES EXTEND OVER AROUND 2,000 METRES ALONG THE ILLARA STRUCTURE MARKING A SIGNIFICANT MINERALISED POSITION. THE OVERALL GOLD ENDOWMENT OF THE STRUCURE IS NOW NUDGING HALF A MILLION OUNCES. WE COMMENCED A 10,000 METRE
Slide 21: Slide 7 speaker text
URANIUM IS KNOWN UPSTREAM IN THE NOONDIE SYSTEM AT YOUANGARRA AND WE ARE AWARE OF ANOMALOUS U IN WATER UP TO A VERY SIGNIFICANT 195 PPB U IN BORES IN THE SURROUNDING AREA. SLIDE 7 WITHIN THE CENTRAL AREA, THE TARGET HAS BEEN CONFIRMED BY SURFACE SAMPLING. ASSAY VALUES OF UP TO 60 PPM U HAVE BEEN ACH
Slide 22: Slides 8 and 9 speaker text
SLIDE 8 OUR NEW URANIUM INITIATIVE EXTENDS OVER SOME 300,000 KM2 OF THE WHEATBELT TO THE EAST OF PERTH, COVERING THE AVON AND BLACKWOOD CATCHMENTS. THE MAIN ELEMENTS OF THIS PROJECT ARE: • THE AVON JOINT VENTURE WITH QUASAR RESOURCES, AN AFFILIATED COMPANY OF HEATHGATE RESOURCES, AND • THE COLLABORA
Slide 23: Slides 10 and 11 speaker text
I WILL NOW EXPLAIN IN A LITTLE MORE DETAIL THE COLLABORATIVE RESEARCH PROJECT, FULLY TITLED “REACTIVE URANIUM ANOMALIES IN WATERS OF THE WESTERN AUSTRALIAN WHEATBELT”. SLIDE 10 THE CRC LEME COMPRISES EIGHT PARTNERS IN A NON-INCORPORATED JOINT VENTURE. THE CRC’S ARE DESIGNED TO FOCUS PUBLIC AND PRIVA
Slide 24: Slide 12 speaker text
• THE PROJECT HAS ALREADY DELIVERED SOME EXCEPTIONAL RESULTS THAT EVEN THE USUAL SKEPTICS COULD NOT IGNORE, • THE ISOTOPIC WORK IS ALREADY INDICATING THE EXCITING POSSIBILITY OF A VECTOR TO MINERALISATION, • THE WIDER GOLD EXPLORATION WORK UNDERTAKEN IN THE AREA IN RECENT TIMES IS SUGGESTING THERE I
Slide 25: Slides 13 and 14 speaker text
SLIDE 13 THE WATER DATA DOES NOT EXIST IN ISOLATION. THIS SLIDE SHOWS THE DISTRIBUTION OF OUR TENEMENTS ON AN IMAGE OF URANIUM ANALYSES DERIVED FROM VARIOUS PUBLIC DOMAIN DATA SETS. LATERITE AND CALCRETE SAMPLING AND AN UNDERSTANDING OF THE REGOLITH ARE OBVIOUS WAYS TO COMPLEMENT WATER DATA. COMPILA
Slide 26: Slide 15 speaker text
SLIDE 15 THE POINTS I WOULD STRESS IN CONCLUSION ARE: THAT MINDAX HAS FOCUSSED ON EXPLORATION TARGETING IN AREAS THAT HAVE BEEN LARGELY OVERLOOKED BY PAST PROSPECTING. WE HAVE ACCUMULATED AND MATURED A SIGNIFICANT GOLD PORTFOLIO THAT HAS ALREADY SHOWN JUSTIFICATION OF THIS APPROACH. DRILLING OVER TH