Company PresentationCompany PresentationThe Selenge Iron Ore Project

Robert WrixonManaging Director

26 September 2011For

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COMPETENT PERSON’S STATEMENT AND DISCLAIMERS

Competent Person’s StatementCompetent Person s StatementThe information in this presentation that relates to Exploration Results and Exploration Targets is based on information compiledand 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 tothe activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves’.

Mr Griffin is the Technical Manager of Haranga Resources Limited and consents to the inclusion in this report of the mattersbased on his information, and information presented to him, in the form and context in which it appears.

Forward Looking StatementsThis presentation includes certain “forward looking statements”. All statements, other than statements of historical fact, arep g , ,forward looking statements that involve various risks and uncertainties. There can be no assurances that such statements willprove 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 currentlyavailable. The company does not assume the obligation to update any forward-looking statement.

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PRESENTATION STRUCTURE

COMPANY BRIEFING

IRON ORE MARKET IN NORTHERN CHINA

THE SELENGE IRON ORE PROJECTTHE SELENGE IRON ORE PROJECT

SUMMARY

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OVERVIEW

Haranga Resources listed on ASX in Dec 2010 via a $25m IPO→ Five iron ore exploration projects in Mongolia

Flagship Selenge Iron Ore Project (60% Ownership)→ Close to existing rail and road infrastructure→ Ability to access the massive market in northern China

Mongolian iron ore exports growing rapidly due to healthy margins and the market outlook remains strongthe market outlook remains strong

Haranga’s dual strategy→ Exploration to develop a resource inventory→ Portfolio upgrade focusing on near term production

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COMPANY SNAPSHOT (23 Sep 2011)

Key statistics (A$)Share price / volume history (A$; millions)

Ordinary shares on issue 23-Sep-11 186.75m52 week low 52 week high 30 day VWAP

$0 80) 9 0 )

Unlisted options1 23-Sep-11 28.5m

Share price 23-Sep-11 $0.245

Market capitalisation 23-Sep-11 $45.75m

Date 9-Aug-11 5-Jan-11

Share price $0.16 $0.74 $0.25

$0.60

$0.70

$0.80

Share

Pric

e (A$

)

7.0

8.0

9.0

Volum

e (m)

p 23 Sep 11 $

Fully diluted market capitalisation 23-Sep-11 $52.74m

Net debt / (cash) 30-Jun-11 $(17.73)m

Undiluted enterprise value $28 03m

Substantial shareholders$0.40

$0.50

S

4.0

5.0

6.0Undiluted enterprise value $28.03m

Diluted enterprise value2 $29.31m

Name No. Shares Held

% of Shares on Issue

Credit Suisse Securities (Europe) 14.47m 7.75%$0 10

$0.20

$0.30

1 0

2.0

3.0

JP Morgan Nominees 6.55m 3.51%

$0.00

$0.10

Dec-10 Feb-11 Apr-11 Jun-11 Aug-110.0

1.0

Directors’ interests

Directors collectively hold 7.5% of the securities on issue

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1. In the money options only. 36.0m options on issue in total2. Adjusted for cash received from exercise of optionsSource: Bloomberg as at 21 September 2011

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BOARD

19 years experience in the resources sector with both major and junior resource companiesBSc (Hons - Geology), Grad Certificate (Mineral Economics) C tl Di t f H C l V R A R Si t

Matthew WoodCh i Currently a Director of Hunnu Coal, Voyager Resources, Avanco Resources, Signature

Metals and Copper RangeChairman

15 years commercial experience in engineering consulting mineral asset acquisition and Robert Wrixon

Managing Director

15 years commercial experience in engineering, consulting, mineral asset acquisition and exploration managementPh.D in Mineral Engineering from the University of California, Berkeley and honours degree in Chemical Engineering from Princeton University (USA)Previously Managing Director of Uranio Limited / Manhattan Corporation LimitedPreviously Managing Director of Uranio Limited / Manhattan Corporation Limited

Kell Nielsen Geologist with 18 years experience covering a variety of commodities including gold, base metals iron ore phosphate and coal throughout Australia as well as Africa and North America

Exploration Directormetals, iron ore, phosphate and coal throughout Australia as well as Africa and North AmericaCurrently Managing Director of Voyager Resources

Timothy FlavelExec Director and

Joint Company Sec

Chartered Accountant with 20+ years experience in mining and accountingCurrently a Director of Hunnu Coal, Voyager Resources, Signature Metals and Copper Range and Company Secretary of Hunnu Coal, Voyager Resources and Copper Range

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Iron ore consumption/production forecast in China’s northern provinces(Million Tonnes at average ROM domestic Chinese equivalent grade: 20% Fe)

In 2010 China mined 800Mt of iron ore at an average grade of 19% Fe7Source: CRU Strategies

In 2010 China mined ~800Mt of iron ore at an average grade of 19% Fe

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MONGOLIAN IRON ORE EXPORT GROWTH

Quarterly Mongolian Iron Ore Exports to China

From practically zero in 2008, Mongolian iron ore

8Source: China Customs

exports are now at an annualised rate of almost 6Mtpa

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STEEL MILLS IN NORTHERN CHINA

Inland steel mills of northern China are fed by domestic low grade magnetite minesMongolian magnetite concentrate is the perfect replacement for declining domestic supply

9Source: CRU Strategies

Mongolian magnetite concentrate is the perfect replacement for declining domestic supply

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IRON ORE SPOT PRICE AT QINGDAO

1 800

Iron ore fines price (RMB/t, Fe 64%)

1,400

1,600

1,800

RMB1,330/t= US$209/t1,000

1,200

400

600

800

0

200

400

Spot prices remain high for iron ore in China

Jun-06 Dec-06 Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11

10Source: Bloomberg

Spot prices remain high for iron ore in ChinaFor

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LOCATION MEANS INHERENT COST ADVANTAGE

This is a sustainable long term advantage

11Source: CRU Strategies

Mongolian iron ore exports will continue to boom

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THE SELENGE PROJECT LOCATION

Large ground holding in Mongolia’s premier iron ore g pbelt 200km north of UB

Nearby Eruu Gol mine (304Mt) and the Tumurtei (304Mt) and the Tumurtei (230Mt), Tumur Tolgoi (25Mt) iron ore deposits*

Eruu Gol iron ore mine:Eruu Gol iron ore mine:– Currently exporting 2.5 Mtpa– Expansion Plans: 6 Mtpa by

end 2012– CIC invested $500m to obtain

~1/3 of Eruu Gol in 2009**– Read through value of approx

US$1 5B in 2009 (before rail US$1.5B in 2009 (before rail line built)

Large project area, premium locationRelatively industrial region, well served by neaby rail infrastructure

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Relatively industrial region, well served by neaby rail infrastructureSources: * Mineral Resources Authority of Mongolia Register of Mineral Deposits; Golomt Bank “Mongolia Economic Review – Dec 2010”

** Wall Street Journal – 29 Oct 2009 (CIC = China Investment Corporation)

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SELENGE REGIONAL MAGNETICS

The Selenge region hosts magnetite skarn deposits formed in the structural

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corridor between volcanic intrusives to the north and granites to the south

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FOUR PRIMARY TARGETS AT SELENGE PROJECT

Drilling underway at Bayantsogt and Huiten Gol; Dund Bulag to follow

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g y y g gAiming to determine a maiden resource at Bayantsogt in early 2012

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PLAN MAP AT BAYANTSOGT (GEOLOGY)

All holes drilled thus far have hit iron mineralisationiron mineralisationBanded magetite skarnAssays received for 7 holes thus far. Selected intersections:

• 26m at 27% Fe from 32m (BTDH 1)• 28m at 30% Fe from 3m (BTDH 2)28m at 30% Fe from 3m (BTDH 2)• 29m at 24% Fe from 34m (BTDH 5)• 39m at 23% Fe from 105m (BTDH 6)• 16m at 26% Fe from 13m (BTDH 7)16m at 26% Fe from 13m (BTDH 7)• 17m at 28% Fe from 50m (BTDH 7)

Higher grade areas exist within th id i t tithese wide intersections

16 holes so far – 16 hits

15Mineralisation open in all directions and at depth

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CROSS SECTION AT BAYANTSOGT

At least five separate large iron lodesiron lodes

Each lode 12m to 54m in apparent width

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PLAN MAP AT BAYANTSOGT (RTP MAGNETICS)

Magnetic anomaly coincident with a ‘magnetite hill’with a ‘magnetite hill’Drilling will continue to test the extent of the mineralisationBayantsogt is just the first of the four primary targets to be drill tested

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BANDED MAGNETITE SKARN AT BAYANTSOGT

Silica exists primarily in separate bandspPossibly liberated by simple crushing and screening, without need g,for grindingPotential for low cost, low capex beneficiationp

Bulk samples for lab test work being prepared18

Bulk samples for lab test work being prepared

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THE ERUU GOL EXAMPLE: BANDED MAGNETITE SKARN DEPOSIT

Eruu Gol resource is approx 300Mt

Eruu Gol iron ore mine production:Currently exporting 2 5 Mtpa of concetrate

New rail spur to the Eruu Gol Mine(just 20km from Bayantsogt)

– Currently exporting 2.5 Mtpa of concetrate– Plan to expand to 6 Mtpa by end 2012

Located within a ‘magnetite hill’ hence low t i ti l i i tstrip ratio, low mining cost

Banded magnetite skarn deposit hence straightforward, low cost benefication ERUU GOL VALUATION:g

Upgrading process is low capex (just crushing, screening followed by dry magnetic separation)

F d d i 34% F d i

$1.5Bn based on the 2009 CIC purchaseThis valuation made when Feed grade is approx 34% Fe, product is a

62% Fe concentrate (without the need for high cost grinding or wet magnetic separation)

This valuation made when production was just 0.5Mtpa and before their rail spur was built

Low Cost – High Margin Overburden Removal at Eruu Gol

Grade and nature of the Bayantsogt mineralisation is

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y ganalagous to nearby Eruu Gol

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SUMMARY

China mines 800Mt per year of iron ore, 19% Fe average→ Primarily magnetite sent to mills with pelletising plants→ Primarily magnetite, sent to mills with pelletising plants→ Domestic output forecast to decline in grade and tonnage→ Massive demand, high prices for Mongolian magnetite concentrate→ Mongolian mines have high valuations due to high margins, strong outlook

First target at Selenge highly promising→ All holes successful thus far, mineralisation open in all directions→ Multiple, wide mineralised iron lodes→ Banded magnetite skarn potentially suitable for low cost beneficiation→ Banded magnetite skarn, potentially suitable for low cost beneficiation→ Aiming for maiden resource by Q1 2012

H R ll iti dHaranga Resources well positioned→ Three more highly prospective targets to explore nearby in Selenge→ $16m in the bank

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