Corporate Presentation September 2013 · altonamining.com September 2013 2. Disclaimer and JORC Compliance What You Should Know Find out more - This presentation is being used as

altonamining.com September 2013

Corporate Presentation

September 2013

www.altonamining.com ACN 090 468 018

ASX: AOH

FSE: A2O

altonamining.com September 2013 2.

Disclaimer and JORC Compliance

What You Should Know

Find out more - This presentation is being used as a presenter’s aid with summarised information. See Altona’s

other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are

available at www.asx.com.au or www.altonamining.com, for more information.

Third party information - Altona does not make any representations as to the accuracy or otherwise of third party

information, including where projections are given.

Forward-looking statements - Within this presentation there may be certain forward-looking statements, opinions

and estimates. These are based on assumptions and contingencies which are subject to change without notice and

are not guarantees of future performance. Altona assumes no obligation to update such information.

Taking action - Please undertake your own evaluation of the information in this presentation and contact your

professional advisers if you wish to buy or sell Altona shares.

Competent Person Statement

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on

information compiled by Dr Alistair Cowden BSc (Hons), PhD, MAusIMM, MAIG who is a full time employee of the

Company and 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 2012

Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr

Cowden has consented to the inclusion in the report of the matters based on his information in the form and context in

which it appears.

Presentation

This slide show is the full version of Altona’s current corporate presentation. Some slides may be omitted in the verbal

presentation.


A sustained step change in copper markets in 2005

Post 2005 price averages: US$7,265 (US$3.30/lb)

We Believe in Copper

3.

$1,577 $1,558 $1,780

$2,868

$3,684

$6,731 $7,126

$6,952

$5,164

$7,540

$8,811

$7,958 $7,670

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013YTD

Today


Growing Copper Production and Optionality

Underground copper-gold mine in Finland

Outokumpu Project Roseby Project

Development ready, 40ktpa copper


Altona Overview and Objectives

A 8,000ktpa copper producer at Outokumpu in Finland with by-product gold, silver and zinc

Considering production expansion at Outokumpu dependent on further reserve/resource growth from current deep drill program

Completed a US$250m NPV Definitive Feasibility Study for the Little Eva project, which is within Altona’s 100% owned Roseby copper project near Mt Isa, Queensland

Little Eva could produce 39,000tpa copper and 17,000oz of gold per year over a mine life in excess of 10 years at a C1 cash cost of US $1.73/lb

Pursuing a range of transactions to realise value / develop Roseby, with the overriding objective being to maximise value for its shareholders

5.


Corporate Snapshot

Australian institutions: 32.0%

Foreign institutions: 20.0%

Board: 8.7%

German/Swiss retail: 7.0%

Top 20: 57.0%

Major Shareholders

ASX (Australia) code: AOH

FSE (Frankfurt) code: A2O

Share price (29-08-2013): A$0.15

Average daily turnover: 0.5M shares

Shares on issue: 532M

Market capitalisation: A$80M

Debt: US$21M

Cash (30-06-2013): A$26M

Research coverage: Credit Suisse

Market Status

Source: ASX


Outokumpu Copper Project in Finland

I metre

Massive copper sulphide ore in development face


Finland is a Leading Mining Destination

Altona’s projects are in eastern Finland.

Geology is similar to other Archaean and Proterozoic terrains in Australia and Canada.

Euro zone country with a history of mining and mining equipment manufacturing, a stable tax regime (20.0%) and no royalties.

Major miners include Agnico Eagle, Anglo American and First Quantum.

September 2013 altonamining.com

9

Our Success is Built on Our People


Mill, Mine and 5 Deposits in Historic Outokumpu

Keretti mine produced 1Mt copper and 1 Moz gold from 1914 to 1989

Past or present mine

Resource

Prospect


11.

Kylylahti Underground Mine

All infrastructure in place


Kylylahti Mine Key Facts

Status Steady state 550,000tpa,

expansion under consideration

Mine 5.5m x 5.5m decline tunnel,

longhole open stopes with

cemented waste fill

Life of mine

average

production

Ore: 550,000tpa

Copper: 8,000tpa

Gold: 8,400ozpa

Zinc: 1,600tpa

Mining cost €32/tonne including trucking

Mine life 7.6 years

Reserves 4.2Mt at 1.6% Cu, 0.7g/t Au,

0.6% Zn

Resources 7.7Mt at 1.3% Cu, 0.7g/t Au,

0.5% Zn

Luikonlahti

Mill Interior


Deep drilling underway to expand resources

Kylylahti Mine Open at Depth

13.


Increasing Resources and Reserves

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Feasibility Study June 2012 December 2012 June 2013

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15.

Luikonlahti Mill


Luikonlahti Mill Key Facts

Status 91.5% copper recovery

71.5% gold recovery

91% availability

Products Copper-gold concentrate

Zinc concentrate

Sales Boliden’s Harjavalta

smelter 400km by truck,

monthly payments

Plant capacity 550,000tpa

Milling cost €15/tonne plus €3/tonne

concentrate transport

Expansion Can expand to

800,000tpa for approx.

A$7.5M capital

Interior Luikonlahti Mill Hall

Pebble mill 1 in action


Mine and Mill Movie

17.


18.

Quarterly Production Performance – A solid start

FY2014 guidance of 1900-2100 tonnes of copper per quarter at average of US$1.70-1.85/lb used in forecast for Q3 2013.

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Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013

Copper (tonnes) Gold (ounces) Copper (tonnes) - FCST

Gold (ounces) - FCST C1 cost (USD/lb)* C1 cost (USD/lb)* - FCST

* C1 cash cost calculated per Brook Hunt methodology. Cost data during commissioning period not meaningful.


Outokumpu – Growth opportunities

Reserve expansion from deep drilling and definition drilling

Can increase throughput from 550,000 to 800,000tpa if sufficient reserves, cost approx €7m

Accumulating US$50 million per annum in metal in cobalt-nickel concentrate in storage

Scoping studies have demonstrated technical feasibility of producing cobalt-nickel product able to be sold to refineries

Regional Resources and exploration may provide a second mine

Surface

_ _ _ _ _

100m

Grade distribution at Kylylahti


Roseby Copper Project

Little Eva

20.

Looking north-west from Green Hills


Roseby is a Strategic Asset


22.

3 Elements to the Roseby Project

Little Eva: A Development Ready Project

Fully permitted with DFS completed on a simple

39,000tpa copper open pit mine and flotation plant

Major Resource Inventory

1.52Mt copper including 0.84Mt copper in deposits

outside Little Eva Project

Exploration

1,500km² of exploration tenure prospective for copper,

gold, molybdenum, uranium and zinc-lead-silver


Little Eva May 2012 Definitive Feasibility Study

23.

DFS to bankable standard by GR Engineering Services

Large, simple and well drilled resource

Straightforward open pit mining and processing for 11 years

Simple processing route

Quality copper-gold concentrate

Stable, skilled mining jurisdiction

Native title, environmental permits and mining leases all in place

A$252m NPV

A$320m capital cost

US$1.70/lb cash cost Ernest Henry Mine Truck


DFS Update

DFS costs were top of market

− Mining contractor rates down 5-10% from DFS estimates

− Engineering margins down

Resource/Reserves

− Incorporate post DFS drilling at Turkey Creek, Lady Clayre and Ivy Ann

− Little Eva resource/reserve re-modelling

Outlook

− Lower operating costs

− Lower capital costs

− Longer mine life (>11 years)

24.


25.

What Next for Roseby?

Altona needs a partner to develop Little Eva

Altona advisor Credit Suisse pursuing partnering, sale and corporate opportunities that flow from having a large development ready copper asset

China has bought up the Mt Isa area

Inova: Shanxi Donghui bid A$160 million for 18,000tpa copper miner with major undeveloped projects


The Altona Advantage

PRODUCTION & CASHFLOW

De-risked copper-gold-zinc mine and mill

in Finland with strong growth profile

COPPER LEVERAGE

1.66Mt (3.7mlbs) copper and 0.76Moz

gold in resources

STRATEGIC ASSET

Little Eva copper-gold deposit nearing

decision to build / value realisation

FINANCIALLY STRONG

Cash in bank, no net debt and positive

cashflow

EXPLORATION UPSIDE

We control two major copper fields


27.

2011 was a turbulent year,

2012 will be Altona’s year to shine

Termite mounds watching summer

storms at the Blackard deposit

APPENDICES


Top 10 Shareholders (51.5%)

28.

Rank Shareholder Country No. of Shares %

1 Perpetual Investments Australia 63,735,454 12.0%

2 L1 Capital Australia 52,450,152 9.9%

3 German retail clients through

Clearstream Luxembourg Germany 37,715,108 6.9%

4 Kevin Maloney (Chairman) Australia 35,348,000 6.7%

5 Thomas Roeggla and clients Monaco 29,626,422 5.6%

6 BT Investment Management Australia 15,175,571 2.9%

7 Colonial First State - Growth Australian

Equities Australia 11,200,000 2.1%

8 Finnish Industry Investment Finland 10,261,300 1.9%

9 Dr Alistair Cowden (MD) Australia 10,010,960 1.9%

10 Pareto Growth Norway 7,399,233 1.4%


I metre

Roseby Resource Estimates

DEPOSIT

TOTAL CONTAINED

METAL MEASURED INDICATED INFERRED

Tonnes Grade Copper Gold Tonnes Grade Tonne Grade Tonnes Grade

million Cu (%)

Au (g/t)

tonnes ounces million Cu (%)

Au (g/t)

million Cu (%)

Au (g/t)

million Cu (%)

Au (g/t)

COPPER-GOLD DEPOSITS

Little Eva 100.3 0.54 0.09 538,000 271,000 36.3 0.63 0.08 41.4 0.48 0.08 22.6 0.49 0.11

Ivy Ann 7.5 0.57 0.07 43,000 17,000 5.4 0.60 0.08 2.1 0.49 0.06

Lady Clayre 14.0 0.56 0.20 78,000 85,000 3.6 0.60 0.24 10.4 0.54 0.18

Bedford 1.7 0.99 0.20 17,000 11,000 1.3 1.04 0.21 0.4 0.83 0.16

Sub-total 123.4 0.55 0.10 675,000 384,000 36.3 0.63 0.08 51.7 0.52 0.09 35.5 0.51 0.13

COPPER ONLY DEPOSITS

Blackard 76.4 0.62 475,000 27.0 0.68 6.6 0.60 42.7 0.59

Scanlan 22.2 0.65 143,000 18.4 0.65 3.8 0.60

Longamundi 10.4 0.66 69,000 10.4 0.66

Legend 17.4 0.54 94,000 17.4 0.54

Great Southern 6.0 0.61 37,000 6.0 0.61

Caroline 3.6 0.53 19,000 3.6 0.53

Charlie Brown 0.7 0.40 3,000 0.7 0.40

Sub-total 136.7 0.61 840,000 27.0 0.68 25.0 0.64 84.7 0.59

TOTAL 260.1 0.58 0.05 1,515,000 384,000 63.2 0.65 0.05 76.7 0.55 0.06 120.1 0.56 0.04

See ASX release of 26 July 2011, 19 December 2011, 23 April 2012, 3 July 2012 and 22 August 2012 for full details of resource

estimation methodology and attributions.

Note: All figures may not sum exactly due to rounding.

Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% copper lower cut-off grade.

29.


Little Eva Project - Resource and Reserve Estimates

Tonnes (m)

Copper (%)

Gold (g/t)

Contained Copper

(t)

Contained Gold (oz)

RESOURCES

Measured 36.3 0.63 0.08 228,000 90,000

Indicated 51.7 0.52 0.10 266,000 152,000

Inferred 35.5 0.51 0.13 180,000 141,000

Total 123.4 0.55 0.10 675,000 384,000

RESERVES

Proven 31.2 0.64 0.08 198,000 85,000

Probable 28.1 0.53 0.10 149,000 90,000

Sub Total 59.3 0.59 0.09 347,000 174,000

Probable (stockpile) 15.3 0.18 0.06 28,000 31,000

Total 74.7 0.50 0.08 375,000 204,000

Mining Inventory 1.9 0.51 0.23 10,000 14,000

Little Eva Project comprises Little Eva, Bedford, Lady Clayre and Ivy Ann.

30.

See ASX release of 14 May 2012 for full details of Reserve estimation methodology and attribution and 26 July 2011,

19 December 2011, 23 April 2012 and 22 August 2012 for full details of Resource estimation methodology and attribution.


Outokumpu Resource and Reserve Estimates

Deposit Classification Tonnes

(m) Copper

(%) Gold (g/t)

Zinc (%)

Cobalt (%)

Nickel (%)

Saramäki Inferred 3.40 0.71 - 0.63 0.09 0.05

Vuonos Inferred 0.76 1.76 - 1.33 0.14 -

Hautalampi

Measured 1.03 0.47 - 0.06 0.13 0.47

Indicated 1.23 0.30 - 0.07 0.11 0.42

Inferred 0.90 0.30 - 0.10 0.10 0.40

Total 3.16 0.36 - 0.07 0.11 0.43

Riihilahti Indicated 0.14 1.69 - - 0.04 0.16

Valkeisenranta Indicated 1.54 0.29 - - 0.03 0.71

Särkiniemi Indicated 0.10 0.35 - - 0.05 0.70

Sarkalahti Inferred 0.19 0.33 - - - 1.02

TOTAL 16.98 0.93 0.31 0.44 0.15 0.26

Kylylahti Tonnes

(m) Copper

(%) Gold (g/t)

Zinc (%)

Cobalt (%)

Nickel (%)

RESOURCES

Measured 1.4 1.22 0.56 0.55 0.23 0.20

Indicated 5.4 1.44 0.72 0.54 0.25 0.20

Inferred 0.9 0.64 0.59 0.36 0.17 0.25

TOTAL 7.7 1.31 0.68 0.52 0.23 0.21

Contained metal (t) 100,670 167,850oz 40,360 18,000 15,900

RESERVES

Proven 0.6 1.51 0.75 0.66 0.25 0.15

Probable 3.5 1.62 0.73 0.62 0.27 0.17

TOTAL 4.2 1.60 0.73 0.63 0.27 0.16

Contained metal (t) 66,700 97,700oz 26,100 11,100 6,900

See ASX release of 29 August 2013 for full details as required by the 2012 Edition of the Australasian Code for Reporting of

Exploration Results, Mineral Resources and Ore Reserves (JORC Code).


Telephone: +61 8 9485 2929

Facsimile: +61 8 9486 8700

Email: [email protected]

www.altonamining.com


An Experienced Team

Altona Management

Jarmo Vesanto General Manager Finland

Geologist

25 years Outokumpu Oyj in Finland, Canada and Australia

6 years as Manager in Finland

Altona Board

Kevin Maloney Non-Executive Chairman, founder of The Mac Services. Extensive career in retail banking, finance and resources

Paul Hallam Non-Executive Director, formerly Director of Operations at Fortescue and EGM Development and Projects for Newcrest

Peter Ingram Non-Executive Director , 45 years mining industry experience

Steve Scudamore Non-Executive Director , 28 years as a partner at international accounting and financial services firm KPMG

Alistair Cowden Managing Director

Over 30 years experience as a geologist and mining company executive

Instrumental in listing Vulcan Resources, Rox Resources, Archaean Gold and Magnetic Minerals

Eric Hughes Chief Financial Officer

Accountant, formerly BHP Billiton

20 years experience in financial management of resources companies

10 years experience as CFO of listed companies

Iain Scott Chief Operating Officer

Metallurgist, formerly Straits, Renison

25 years experience in mining and processing

15 years experience at COO and MD levels


ASX Copper Producers (June Quarter)

Altona’s C1 Cash cost calculated as per Brook Hunt methodology. Refer to

websites of above companies for their calculation method. Source: March

quarterly activities reports of the respective companies, except Hillgrove which is

for the quarter ended 31 July.

0.00

0.50

1.00

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C1 Cash Cost US$ / lb


Altona’s Finnish Assets

Kylylahti Underground Mine

Producing at 550,000tpa, reserves increasing and

considering expansion

6

Luikonlahti Mill

Guidance of 7,600 - 8,400t copper and 8,000 - 9,000oz

gold in concentrates for 2013-2014

Regional Resources

2 past producing mines and 4 unmined deposit within

30km of mill have 9 million tonnes of resources

Nickel Deposits

Nickel-Copper-PGE deposits in eastern Finland


Little Eva is a Large Deposit

1.3km long, 20-370m wide

Drilled up to 300m deep (511 drillholes, 76km)

Large bulk IOCG style deposit similar to Ernest Henry

Strip ratio of 1.8:1 after 15Mt pre-strip

Reserve: 53Mt ore at 0.6% copper, 0.1g/t gold

Additional 6Mt reserves in 3 small satellite pits

15Mt of low grade ore stockpiled and treated at end of mine life

11 year mine life

Underground potential


Little Eva Financial Performance

Key Financial Assumptions Unit

Long term copper price 2.75 US$ per pound

Long term gold price 1,300 US$ per onuce

Long term exchange rate 0.81 AUD/USD


Copper-only Deposits

7 copper-only deposits (137Mt ore) for 800,000t copper

These deposits are not considered in current DFS

Copper only deposits comprise ‘Native copper ore’ in weathered rocks overlying fresh copper sulphide ore

Sulphide ore is conventional and will be treated as per Little Eva

Native copper ore has lower (60%) flotation recovery

Studies will be delayed until Little Eva developed

38.


Can Roseby be bigger than 2Mt copper?

Altona has grown resource 60% to 1.52Mt of copper metal in 2 years

4 Reserves, 7 Resources and many prospects and workings

Turkey Creek discovery in August 2012 highlights prospectivity

All deposits open and growing, many targets for extensions

Dugald River zinc and Mary Kathleen uranium highlight that exploration potential not limited to copper

Major reconnaissance RAB program highlights targets at Companion

39.

Plan of deposits

and prospects at

central Roseby

area


Little Eva – Site Layout


Straightforward Plant and Processing

Simple and rapid flotation with coarse grind. 96% copper and 85% gold recoveries to a clean 25% copper and 4g/t gold concentrate.


Logistics and Permits

9km from MMG’s $1.2 billion Dugald River zinc development

220 man camp 7km from sealed highway and 60km from Cloncurry airport

Concentrate trucked 65km to Cloncurry rail siding in sealed half containers, rail to Townsville port

Power via 12km spur line from Dugald River proposed 220KV line

Native title complete, environmental authority granted and mining licences granted

Minor modifications to Environmental Management Plan may be required to reflect Definitive Feasibility Study


What Little Eva Could Be


Share Price has Outperformed other ASX Coppers

Altona commenced trading on 23 February 2010

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Feb-10 Jun-10 Oct-10 Feb-11 Jun-11 Oct-11 Feb-12 Jun-12 Oct-12 Feb-13 Jun-13

Altona Hillgrove Ivanhoe Tiger OZ Minerals All Ordinaries

Documents

Corporate Presentation September 2013 · altonamining.com September 2013 2. Disclaimer and JORC Compliance What You Should Know Find out more - This presentation is being used as