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Investor Presentaiton

• Sierra Project Q The Sierra project contains one exploration permit (EPC 1822) which is in the application stage. 25 Of potential economic interest in EPCA 1822 are the coal seams of the Burngrove, Fair Hill and Crocker Formations as they are inferred to subcrop within EPCA 1822 and each may have potential for open cut extraction. Close to rail with the Blackwater Rail System running across the northern edge of EPCA 1822 and delivers coal to the Gladstone Ports and the proposed Wiggins Island Coal Export Terminal The Burngrove and Fair Hill seams have previously been overlooked as they are typically banded and require beneficiation to produce a saleable product. It is anticipated that the Fair Hill seams would subcrop through the central area of EPCA 1822 making them the primary exploration target presenting a low stripping ratio open cut resource target Stanmore Coal's Mackenzie River Project which occurs adjacent to the northern boundary of EPCA 1822 has identified target horizons within the Fair Hill seam and the lower section of the Lepus seam which overlies the Fair Hill seam and has an exploration target of 110 Mt - 170Mt. Aquila Resources has completed a concept study on viability of the Washpool Project, which occurs along strike further to the north of EPCA 1822 and has 185.5Mt JORC Inferred, Indicated and Measured Resource in similar formations Guildford Coal
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