Company Presentation: The Selenge Iron Ore Project, Mongolia

Robert Wrixon Managing Director

Company Presentation 18 December 2012

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COMPETENT PERSON’S STATEMENTS AND DISCLAIMERS

Competent Persons’ Statements

The information in this presentation that relates to Exploration Results and Exploration Targets is based on information compiled and reviewed by Mr Kerry Griffin, who is a Member of the Australian Institute of Geoscientists. Mr Griffin has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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’. Mr Griffin is the Technical Director of Haranga Resources Limited and consents to the inclusion in this report of the matters based on his information, and information presented to him, in the form and context in which it appears.

The technical information contained in this announcement in relation to the JORC Compliant Resource for the Bayantsogt Deposit has been reviewed by Mr Peter Ball of DataGeo Ltd, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Ball has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’. Mr Ball consents to the inclusion in this report of the matters based on his information, and information presented to him, in the form and context in which it appears.

Exploration Targets

Exploration Targets are conceptual in nature and should not be construed as indicating the existence of a JORC Code compliant mineral resource. There is insufficient information to establish whether further exploration will result in the determination of a mineral resource within the meaning of the JORC Code.

Forward Looking Statements

This presentation includes certain ‘forward looking statements’. All statements, other than statements of historical fact, are forward looking statements that involve various risks and uncertainties. There can be no assurances that such statements will prove accurate, and actual results and future events could differ materially from those anticipated in such statements.

Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.

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OVERVIEW

Company Flagship Selenge Iron Ore Project located in Mongolia → Four primary targets located in the project area → 35,000m of drilling completed in 2012 → Substantial JORC resource upgrade expected April 2013 → 250-400Mt total Exploration Target for the Selenge Project area → Nearby rail and road infrastructure provides easy access to inland NE China market → Adjacent to Eruu Gol, Mongolia’s largest iron ore export mine → Excellent metallurgical properties yield a premium magnetite concentrate → MOU for 5Mtpa of rail capacity signed with Mongolian Government and Railway Authority

Supportive Major Investor: Lippo Group → Lippo Group increased holding from 7.4% to 13.9% via $6m placement in March 2012 → Subsequently increased their interest on market to 15.3%

Mongolian iron ore exports growing rapidly due to healthy margins into inland China Market price and outlook for iron ore remain strong, particularly for inland China where high cost, declining domestic production is the only competition

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BOARD

19 years experience in the resources sector with both major and junior resource companies Currently a Director of Voyager Resources, Avanco Resources, Lindian Resources and Copper Range, previously Chairman of Mongolia focused Hunnu Coal Limited

Matthew Wood Chairman

Robert Wrixon Managing Director

16 years commercial experience in engineering, strategy consulting, mineral asset acquisition and corporate strategy (with Xstrata plc) and exploration management Ph.D in Mineral Engineering from the University of California, Berkeley and B.Eng degree in Chemical Engineering from Princeton University (USA) Previously Managing Director of Uranio Limited / Manhattan Corporation Limited

Timothy Flavel Director and Co. Sec

Chartered Accountant with 20+ years experience in mining and accounting Currently Director and Company Secretary of Voyager Resources and Copper Range

Batochir Sukhbaatar Non Exec Director

Successful Mongolian businessman and Joint Venture partner in the Selenge Project

Kerry Griffin Techincal Director

Geologist with 18 years experience in exploration, resource development, mining geology and asset acquisition in Australia, Africa, South America and Mongolia Previous senior roles in Mongolia with Ivanhoe Mines and Aspire Mining

Erdene Tsengelbayar Exec Director & COO

Investment Banking and resource valuation expertise, qualified mineral economist Over 25 years operational and management expertise natural resources in Mongolia

Daniel Crennan Non Exec Director

Melbourne-based barrister with Aickin Chambers, expertise in Corporations and Commercial Law Currently a director of Castillo Copper Limited, previously on the board of Hunnu Coal

Marshall Cooper Non Exec Director

Head of Mining Investments for Lippo Energy Representative of the Lippo Group, the Company’s largest shareholder

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CSR AND ENVIRONMENTAL STEWARDSHIP

Selenge was Mongolia’s largest drill program in 2012 → A social licence to operate is a must

HAR, VOR and Hunnu Coal jointly run one of Mongolia’s largest private student scholarship program → 15 students currently in the program, 6 are HAR students → 4 of the students are from the local community near Selenge → All our students get summer work experience with HAR

Haranga sponsored this year’s local summer festival Exploration water bore to be donated after use

30,000 spruce, pine and birdcherry trees planted and protected in 10 different areas in the local soum Exploration camp quality and drilling rehab as per western/Australian standard

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6 Source: CRU Strategies; Noble Group

Iron ore consumption/production forecast in China’s northern provinces

In 2012 China will mine over 1Bt of raw iron ore at an average grade of around 17% Fe Provides only 1/3 of iron units required – China is fundamentally short of iron ore

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7 Source: CRU Strategies

STEEL MILLS IN NORTHERN CHINA

Inland steel mills of northern China are fed by high cost domestic magnetite mines Mongolian magnetite concentrate is a perfect reinforcement for declining domestic supply

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MONGOLIAN IRON ORE EXPORT GROWTH

Source: National Statistics Office of Mongolia

Quarterly Mongolian Iron Ore Exports to China

From practically zero in 2008, Mongolian iron ore exports are expected to exceed 7Mt in 2012

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HARANGA HAS FOUR MONGOLIAN IRON ORE PROJECTS

Proximity to transport & infrastructure is vital to access the northern Chinese market

Selenge and Shavdal projects are close to existing iron ore export mines

All projects are targeting large magnetite deposits

Selenge is the Company’s most advanced project and underwent the country’s largest drill program in 2012 F

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THE SELENGE PROJECT LOCATION (Haranga: 80%)

Largest ground holding in Mongolia’s premier iron ore belt 200km north of UB

Nearby to Eruu Gol mine & the Tumurtei and Tumur Tolgoi iron ore deposits*

Eruu Gol iron ore mine: – Mongolia’s largest – Currently exporting 5 Mtpa – Building wet mag sep plant to

expand to 8 Mtpa** – CIC invested $700m to obtain

~35% of Eruu Gol in 2009***

Populous industrial and agricultural region, well served by infrastructure Availability of power and water

Sources: * Mineral Resources Authority of Mongolia Register of Mineral Deposits; Golomt Bank “Mongolia Economic Review – Dec 2010” ** National Statistics Office of Mongolia; Company Presentation – Metals Mongolia Conference 2011 *** Wall Street Journal – 29 Oct 2009 (CIC = China Investment Corp)

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ERUU GOL MINE – A MODEL FOR SELENGE

Eruu Gol mine has a resource of approx 300Mt

Located within a ‘magnetite hill’ hence low strip ratio, low mining cost

Banded magnetite skarn deposit hence straightforward, low cost beneficiation

Current upgrading process is dry magnetic separation

– 58-62% Fe magnetite concentrate from a feed grade of approx 35% Fe

– Exporting 5Mt of this product in 2012

New wet magnetic separation plant under construction – Will produce 66% Fe premium concentrate – Expansion planned to 8 Mtpa end 2014

ERUU GOL VALUATION:

Approx US$2.0B based on 2009 CIC purchase (minimal production and no rail spur at the time)

Hong Kong IPO under discussion

New rail spur to the Eruu Gol Mine

Overburden Removal at Eruu Gol

Sources: Mineral Resources Authority of Mongolia Register of Mineral Deposits; Golomt Bank “Mongolia Economic Review – Dec 2010”.

National Statistics Office of Mongolia; Company Presentation – Metals Mongolia Conference 2011.

Wall Street Journal 29 Oct 2009 (CIC = China Investment Corp).

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ERUU GOL: A WORLD CLASS INTEGRATED IRON ORE EXPORT OPERATION

Rail loading facility

Magnetic concentrators

Currently producing 5Mtpa of concentrate and plans to increase to over 8Mtpa with new wet magnetic separation plant under construction.

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TARGETS IDENTIFIED AT SELENGE PROJECT

All four primary targets now drilled and all contain significant intervals of iron ore A number of other promising new targets have been identified by recent Aeromag

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DRILL PLAN MAP AT BAYANTSOGT (OVER MAGNETICS)

60 of 67 holes hit mineralisation along 750m of strike:

• 103m at 44% Fe from 225m (BTDH 20) – includes 28m at 58% Fe

• 97m at 44% Fe from 223m (BTDH 32) – includes 29m at 54% Fe

• 71m at 37% Fe from 266m (BTDH 15) – includes 12m at 50% Fe

• 20m at 47% Fe from 35m (BTDH 18) • 200m at 22% Fe from 93m (BTDH 36) • 60m at 30% Fe from 239m (BTDH 37)

– includes 18m at 47% Fe

Cutoff Grade (% Fe)

Tonnes (million)

Average Grade (% Fe)

15% Cutoff 32.8 24.4% Fe

25% Cutoff 11.4 32.4% Fe

30% Cutoff 5.3 38.5% Fe

JORC Code (2004) Inferred Resource Table

(based on First Pass 2011 Drilling Only)

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INITIAL RESOURCE AND CROSS SECTION AT BAYANTSOGT

2012 drilling has expanded the resource High grade zone has been extended Exploration Target is 40-60Mt

Consistent iron lodes from surface of the hill mean simple mining conditions

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DRILL PLAN MAP AT DUND BULAG (OVER MAGNETICS)

Dund Bulag is the largest target, again coincident with a large ‘magnetite skarn hill’ Very wide iron lodes from surface: • 85m at 22% Fe from 121m (DBDH 1) • 20m at 24% Fe from 0m (DBDH 3) • 54m at 22% Fe from 98m (DBDH 5) -

includes 6m at 31% Fe • 132m at 20% Fe from 103m (DBDH 8) • 126m at 20% Fe from 242m (DBDH 9) • 44m at 22% Fe from 10m (DBDH 31)

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INTERPRETED CROSS SECTION AT DUND BULAG

Over 100m of ore from surface Very low strip ratio

Exploration Target: 200 – 300Mt of ore

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EXCELLENT METALLURGICAL PROPERTIES

Banded Magnetite Skarn mineralisation at Selenge:

– Coarse grained with SiO2 primarily in separate bands

– Far more easily beneficiated than typical Australian magnetites

Even the lower grade ore produces a 65-66% Fe concentrate at 75µm grind High Fe and low impurities should allow premium pricing

Deposit/ Prospect

Average Raw Fe Grade

Average Mass Yield

Fe (%)

SiO2 (%)

Al2O3 (%)

S (%)

P (%)

Bayantsogt 30.1% 29.1% 65.77 3.25 0.96 1.03 0.02 Dund Bulag 18.5% 18.0% 65.15 5.34 1.32 0.18 0.00 Huiten Gol 27.7% 29.8% 68.78 1.90 0.41 0.01 0.01

Summary of All DTR Tests from Every Metre of 2011 Mineralised Core

Average Concentrate Quality (75µm Grind, 10% Yield Cutoff)

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INLAND CHINA PRICES REMAIN STRONG

US$102/t*

US$130/t

Source: AME Group Monthly Iron Ore Outlook October 2012

Monthly Average Spot Prices for Seaborne Imports vs Inland Domestic Iron Ore

Magnetite concentrate now receives a premium over the seaborne benchmark due to quality differential and to cover the high cost of domestic Chinese production

* Seaborne price has since recovered to $132/t (as of 18 Dec 2012)

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20 Source: CRU Strategies, Macquarie Bank

LOW END OF THE COST CURVE INTO INLAND CHINA

This is a sustainable long term advantage into the inland northern Chinese steel mills reliant on domestic magnetite and poorly served by seaborne imports. Mongolia’s competition in this region is high cost domestic production

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SUMMARY AND SELENGE PROJECT PLAN

China mines ~1Bt per year of iron ore, at ~17% Fe average → Primarily magnetite mines - forecast decline in grade and tonnes → Higher prices for magnetite concentrate in inland northern China than seaborne benchmark

Bayantsogt and Dund Bulag are well advanced → High grade Huiten Gol and new discovery at Undur Ukhaa give further upside → Total Exploration target of 250 – 400Mt for the four drilled targets only → Excellent Met Results: 65-66% Fe concentrate achieved in testing

Highly positive preliminary Scoping Study completed

Six month newsflow for Selenge Project → 35,000m of drilling completed in 2012. Remaining assay and met test results expected during

Q1 2013, with a substantial JORC resource uplift expected April 2013 → Mining Licence application underway → Potential for early production from dry magnetic separation in late 2013 → Full feasibility study for wet magnetic concentrator to commence in 2013

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