Washihi Copper-Gold Project Exploration Update slide image

Washihi Copper-Gold Project Exploration Update

Achievements Rapid progress in <1.5 years! ✓ Projects secured - October 2010 (post successful Manajem ✓ ✓ negotiations) Mining licence - granted December 2010 Environmental licence - granted June 2012 ✓ JORC Resource – announced February 2012 - Team - established in Saudi Arabia & Perth head office Rigs 3-6 drilling rigs secured & active ✓ Drilling - +35,000m drilled since Feb 2011 (290 holes), plus 45,000m drilled historically (345 holes) Mineralisation - extensions defined Sterilisation drilling work completed - Project site and construction camp Power line O Alara Resources Limited Alara resources Sealed Road connecting project site to Al Quwaiyah 20min. from site on the high way to Riyadh Geotechnical work - completed with further work underway Water water bore drilled & pump testing underway. Agreement reached to procure land for water Fauna & Flora - studies completed (16 reptile species, 17 bird species & 44 flora species identified) - Metallurgy completed, review underway. Coarse grind of P80 < 106μm, delivered 87% recoveries for Cu and 91.5% for Zn, at concentrate grades of around 30% for Cu and 57% for Zn. Recoveries may drop marginally below zinc grades of 4.5%. Moderate hardness (14kWh/t energy). Further work is being undertaken by ALS Ammtec to complete the 2Mtpa case www.alararesources.com 13
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