November 19th 2008 By Electronic Lodgement Manager Announcements Companies Announcements Office ASX Limited Level 4, 20 Bridge Street Sydney NSW 2000

ASX Announcement Syndicated Metals Limited – Investor Presentation

Attached is Syndicated Metals Limited’s current investor presentation. Yours faithfully,

Russell Davis Managing Director For further information, contact Russell Davis on 0419 195 087 or view our website www.syndicatedmetals.com.au The information in this report that relates to Exploration Results is based on information compiled by Russell Davis who is an Executive Director of Syndicated Metals Limited and a member of the Australasian Institute of Mining and Metallurgy. Russell Davis has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Russell Davis consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Syndicated Metals Limited GPO Box 2810 Perth WA 6000 ABN 61 115 768 986 t: +61 8 9380 9440 f: + 61 8 9380 9449 e: info@syndicatedmetals.com.au w: www.syndicatedmetals.com.au

“Mining the Isa” Presentation - November 18th 2008

Syndicated Metals Limited ACN 115 768 986

ASX Code: SMD

DisclaimerThis presentation has been prepared by Syndicated Metals Limited ("Company") in connection with providing general and background information on the Company.

This presentation should not be relied upon as a representation of any matter that an advisor or potential investor should consider in evaluating the Company. The Company and its related bodies corporate or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of the Company the accuracy or completeness of any information, statements or representations contained in this presentation, and they do not accept any liability whatsoever (including in negligence) for any information, representation or statement made in or omitted from this presentation.

This document may contain certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this presentation with respect to the Company.

This presentation does not constitute an offer of securities in the Company. Nor, should this presentation be relied upon by any advisor or potential investor in making an investment decision in the Company.

The information in this report that relates to Exploration Results is based on information compiled by Russell Davis who is an Executive Director of Syndicated Metals Limited and a member of the Australasian Institute of Mining and Metallurgy. Russell Davis has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Russell Davis consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

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Corporate Overview

Multi-commodity exposure with significant resource inventory in Mount Isa Region

Key asset – interest in Kalman South moly-copper-rhenium-gold deposit near Mt Isa -funded to completion of Final Feasibility Study by JV partner

Maiden copper resource at 100% owned Barbara deposit – development options being assessed

Portfolio of tenements with phosphate potential

Sun Metals holds a strategic position (10.5%)

Cash at end of September 2008 of A$4.2mMajor ShareholdersKorea Zinc (Sun Metals) 10.5%Russell Davis 9.6%Bruce McCullagh 9.4%Top 20 67.6%

Capital StructureOrdinary shares 30.5 millionOrdinary - restricted 26.8 millionTotal Ordinary Shares 57.3 millionUnlisted options 7.5 million

Market Capitalisation(Undiluted @ 12c/share @12/11/08)

$6.9 million

Jan Hope (Non-executive Director)

• Public relations and investor relations professional with over 20 years’ experience• Formerly Managing Director & founder of public relations firm, Jan Hope and Partners, a

successful national corporate communications consultancy

Andrew Dinning (Non-executive Director)

• Mining Engineer with substantial operating and corporate experience in Australia and overseas• 12 years with WMC in mine management positions, commercial and risk management roles• Experienced in capital raisings on the London AIM and Toronto equity markets• President and Chief Operating Officer of Moto Gold Mines Limited

Bruce McCullagh (Chairman)

• Founding Director of Syndicated Metals• Certified Practising Accountant and Associate of Chartered Secretaries Institute of Australia• Wide range of experience in the mineral and petroleum industries in Australia, UK, USA, Libyan

Arab Republic, and the Arabian Gulf

Russell Davis (Managing Director)

• Founding Director of Syndicated Metals• Geologist with 26 years experience in exploration, property acquisition, mining and development• Formerly held senior positions with several international mining companies • Non-executive Director of Eleckra Mines Limited

Board of Directors

Syndicated’s Projects

Focus of activity in Mount Isa Region in NW QueenslandEarly stage base metals, phosphate and uranium projects in WA

Mount Isa Projects

Substantial tenement holding in Mount Isa mining province

Close to existing infrastructure and world class mineral deposits

Two main project areas:

Kalman South (JV with Kings Minerals NL): molybdenum-copper-gold-rhenium

Mount Remarkable: copper-gold, lead-zinc & uranium

New phosphate project - Georgina

Kalman South Project - Highlights

Kings Minerals NL (“Kings”) holds 51% & can earn up to 70% by completing final feasibility study

Maiden estimate for Kalman announced by Kings in late December 2007

Mineral resource estimate incorporating rhenium announced in September 2008

Kalman South JV contains approximately 60% of tonnes, 67% of molybdenum and 74% of rhenium in current resource

Deposit open at depth with potential for along strike and down-plunge extensions

Kings undertaking pre-development studies

Syndicated Tenement

Syndicated Tenement

Kalman South Project - Resource

Total Kalman Inferred Mineral Resource estimate: 60.8Mt grading 0.32% Cu, 0.05% Mo, 1.19g/t Re and 0.16 g/t AuKalman South JV share within EPM 13870 contains: 36.7Mt grading 0.31% Cu, 0.06% Mo, 1.46g/t Re and 0.15g/t Au.Molybdenum domain in potential open pit grades 0.11% Mo and 2.88g/t Re.

Refer to ASX release by Kings Minerals NL (ASX:KMN) dated September 10, 2008 for full details of Resource Estimate

Syndicated Tenement

Kalman South Project - Potential

Recent drilling down plunge returned a massive chalcopyrite intercept in K106A of 7.65 metres at 23.4% Cu and 0.51g/t Au within 242 metres at 1.28% Cu, 0.48g/t Au, 0.06% MoS2

Follow up hole K106C returned 293 metres at 0.47% Cu, 0.12g/t Au and 0.01% MoS2including 48 metres at 2.24% Cu, 0.56g/t Au and 0.03% MoS2

Kalman South Project - Resource

Refer to ASX release by Kings Minerals NL (ASX:KMN) dated September 10, 2008 for full details of Resource Estimate

Domain Cut-off Grade

Tonnes millions

Cu%

Mo%

Reg/t

Aug/t

TonnesCu

TonnesMo

OuncesRe

OuncesAu

Copper 0.2%Cu 15.3 0.35 0.002 - 0.15 53,600 400 - 76,100

Molybdenum 0.02%Mo 17.5 0.22 0.11 2.88 0.11 38,700 18,400 1,623,700 61,400

Open Pit 32.9 0.28 0.06 1.54 0.13 92,300 18,800 1,623,700 137,500

Copper 0.5%Cu 2.4 0.66 0.004 - 0.38 16,100 100 - 29,300

Molybdenum 0.05%Mo 1.3 0.29 0.12 2.15 0.14 3,900 1,500 93,300 6,200

Underground 3.8 0.53 0.04 0.77 0.29 20,000 1,600 93,300 35,500

Total 36.7 0.31 0.06 1.46 0.15 112,400 20,400 1,717,000 173,000

Updated Kalman South Inferred Mineral Resource Estimate within EPM13870

Kalman - a high grade moly resource

Refer to ASX release by Kings Minerals NL (ASX:KMN) dated September 10, 2008 for full details of Resource Estimate

Deposit Country Tonnes Mo Cu Re(%)

0.26

0.070.53

0.092

Kalman Total Resource Australia 61 0.05 0.32 1.190.10.13

(g/t)

2.76

(millions) (%)Max Canada 11.35 0.36Kalman Molybdenum Domain Australia 26 0.11Thompson Creek USA 98.8 0.098El Creston Mexico 177 0.08MacLeod Lake (Main Zone) Canada 24.4 0.076

Mount Hope USA 965 0.068Spinifex Ridge Australia 314 0.061Ruby Creek Canada 158 0.058Endako Canada 276 0.051

Copaquire Chile 353 0.046Mineral Park USA 520 0.04

Kalman molybdenum domain is one of the higher grade molybdenum resources in the world

Presence of copper, gold and rhenium expected to add significant value to the deposit

Tonnage and grade comparisons with other molybdenum deposits worldwide

Kalman South Project - Activity

Next phase of project development:

Resource definition (Infill) drilling with RC and diamond drilling to 50m x 50m nominal hole spacing being planned.

Ongoing pre-development studies including preliminary flotation testing and initiation of environmental baseline study.

Potential along strike to south

Drill testing of new copper-gold+/-molybdenum zones found in reconnaissance exploration along mineralized shear system extending several km south of Kalman within EPM 13870

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Molybdenum – Uses and Demand

Molybdenum Uses

Molybdenum is a key element used in alloys and stainless steel to enhance:

• Strength• Corrosion resistance• Hardenability

Molybdenum Consumption by Application

Molybdenum Demand and Price

Moly prices in recent years have risen strongly due to increased demand (particularly from China) and supply reduction from major producers. Cuts in steel production have resulted in steep price fall in recent weeks.

^ http://www.roskill.com/reports/molybdenum Price graph source: www.minormetals.com

Kalman South – Rhenium Potential

A program of re-assaying for rhenium throughout the molybdenum domain of the Kalman deposit completedResults incorporated into new resource estimate.Strong correlation between molybdenum and rheniumKings reported that rhenium grades at Kalman are high by world standards Rhenium price currently around $10 - $12/gm

(source:www.minormetals.com)

Source: http://metalsplace.com

Refer to ASX release by Kings Minerals NL (ASX:KMN) dated March 4th 2008 for details of Rhenium assay results

Rhenium UsesRhenium is commonly obtained as a by-product of molybdenum refining Used in production of super-alloys used to make jet engine parts

Mount Remarkable Project

60km northeast of Mount Isa in the Mary Kathleen Fold Belt10 licenses - 6 granted & 4 applications. (2 applications in West Leichhardt JV.)New copper resource at Barbara

Prospective for copper-gold, sediment hosted lead-zinc-silver & uraniumRecon sampling programs using NITON XRF analyzer progressing well

Mount Remarkable – Barbara Drilling

Barbara one of first three copper targets drilledSmall old workings with previous drill holes with ore grade oxide & sulphide copper mineralizationOverlooked in recent years because of thin zone of oxide copper

Syndicated’s drilling outlines copper deposit at Barbara

RC drilling at Barbara

Mount Remarkable – Barbara Drilling

14 RC holes and 3 diamond holes drilled to test zone within 100% Syndicated tenement.

Intercepts include:

24m at 3.08% Cu and 0.25g/t Au including 15m at 4.55% Cu and 0.36g/t Au in BARC002.

20m at 4.97% Cu and 0.38g/t Au in BADD003.

31.5m at 2.56% Cu and 0.12g/t Au and 13.8m at 1.67% Cu and 0.22g/t Au in BADD002

Refer to Syndicated’s ASX Announcement dated October 28 2008 for details of resource

Mount Remarkable – Barbara Resource

Maiden resource with:

38,000 tonnes of copper at 0.5% Cu cut-off grading 1.6% Cu and

32,000 tonnes of copper at a 1% Cu cut-off grading 2.1% Cu

Potentially gold, silver and cobalt credits

Development options being assessedMineral Resources for Barbara Deposit at 0.5% Cu cut-off

Category Tonnes(‘000)

Cu % Au g/t Cu (tonnes)

Au (ozs)

Indicated 402 1.51 0/17

0.15

Total 2,369 1.61 0.15 38,200 11,600

Mineral Resources for Barbara Deposit at 1% Cu cut-off

Indicated 246 1.99 0.21 4,900 1,700

Inferred 1,280 2.11 0.19 27,000 7,600

Total 1,525 2.09 0.19 31,900 9,300

2,200

Inferred 1,967 1.63

6,100

9,40032,100

Mount Remarkable Project - Potential

Barbara Resource Upside

Old workings and gossanous zone extends for another 300m to northwest within EPM16112EPM16112 (West Leichhardt JV) recently granted so access available for step out drillingZone open down-dip/plunge

Referee pit

Mount Remarkable Project - Potential

Other targetsSeveral previously undrilledBarbara-type copper-gold targets such as Referee

Encouraging widths of oxide copper at Mount Hutchinson: 72m at 0.28% Cu and 24m at 0.38% Cu

Untested lead-zinc target west of OZ Mineral’s DugaldRiver zinc-lead-silver deposit

Recon soil sampling generating new copper/lead/zinc anomalies along Mount Remarkable Fault zone Referee pit

Phosphate Projects

Syndicated holds a 100% interest in several tenements with potential for phosphate:

Exmouth (WA)- 670 square kilometres

Dandaragan (WA) – 360 square kilometres

Georgina Basin (QLD) – 670 square kilometres

Exmouth and Dandaragan: targeting Cretaceous phosphatic sands deposits with potential for low-cost mining and treatment

Georgina basin tenements: targeting rock phosphate deposits similar to the Phosphate Hill and Lady Annie deposits

Exmouth Project

Early stage exploration project 1,000km north of Perth & 50km east of Coral Bay

Rights to 100% interest in 3 granted EL’s covering 480km2 . Applied for 1 new EL covering 189 km2 at southern end of project

Previous drilling by CRA located phosphate nodules

Of 13 CRA aircore holes drilled within Syndicated’s tenements five returned values with between 25% and 27% P2O5 from the +5mm fraction

Base metal, silver and uranium potential also to be examined

First sampling program completed

Georgina Basin Projects

Split Rocknear D-Tree and

Lady Annie phosphate deposits.

ToombaInterpreted to cover

prospective sequence on edge of basin to south of Urametdiscoveries near NT/ Qld border.

Forward Program

Kalman South – (Mo-Cu-Au-Re)

Pre-development studies ongoing. Infill drilling planned plus metallurgical and scoping studies being undertaken by JV partner

Mount Remarkable – (Cu-Au, Pb-Zn-Ag & U)

Mining and metallurgical studies on Barbara copper deposit

Drilling of other copper-gold targets (Barbara Extensions/Referee/Mt Hutchinson) + zinc targets (Henry’s Hut)

Exmouth – (Zn-Ag, U & Phosphate)

Field sampling programs progressing

Dandaragan & Georgina Basin (Phosphate)

Compilation of historical data underway

Mt Hutchinson gossan

Summary

Syndicated has:Multi-commodity exposure with significant resource inventory in Mount Isa RegionJoint venture on Kalman South moly/copper/gold/rhenium deposit fully funded to completion of final feasibility100% of new copper deposit at Mount Remarkable with multiple similar targets to be testedActive program for 2009

K106A

Contacts

Russell DavisRussell Davis

Managing DirectorPhone (+61) 041 919 5087Fax (+618) 9380 9449Email rdavis@syndicatedmetals.com.au

Jan HopeJan Hope

Non-Executive DirectorPhone (+61) 041 990 6940Fax (+618) 9380 9449Email jan@janhope.com.au

Web: www.syndicatedmetals.com.au

ASX Code: SMD

Bruce McCullaghBruce McCullagh

Executive Chairman and Company SecretaryPhone (+61) 041 709 9238Fax (+618) 9380 9449Email bmccullagh@syndicatedmetals.com.au

Mail: GPO Box 2810 Perth WA 6000