For personal use only partnership with TVI Pacific · Forward Looking Statements: This presentation may contain forward-looking statements including management's assessments of future

Diggers and Dealers August 2012

Gold assets spin-out to Red Mountain Mining to fund gold resource projects at Batangas, and TSF. Drilling commenced

Nickel DSO development and processing DFS JV funding via planned investment and strategic partnership with TVI Pacific

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Forward Looking Statements:

This presentation may contain forward-looking statements including management's assessments of future plans andoperations, expectations of future production, cash flow and earnings. These statements are based on current expectations thatinvolve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. Theserisks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks indevelopment, exploration and production; delays or changes in plans with respect to exploration or development projects orcapital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production).

Qualified / Competent Persons:

Jon Dugdale (BSc (H1), MAusIMM, MAICD), the CEO and a director of Mindoro Resources is a Competent Person as defined by the JORC Code, has more than ten years of experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken, and has reviewed and verified the Mineral Resource statements contained in this news release.

Mindoro’s exploration programs are prepared and/or designed and carried out under the supervision of Tony Climie, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 and is a Competent Person as defined by the JORC Code, and who has reviewed and verified the pertinent disclosure of exploration related technical information contained in this news release. Mr Climie is an executive of Mindoro and is a member of the Alberta Professional Engineers, Geologists and Geophysicists Association. Mr Climie has more than ten years of experience which is relevant to the style of mineralisation andtype of deposit under consideration and to the activity which he has undertaken. Mr Climie has consented to the release of the pertinent exploration related technical information in the form and context in which it appears.

Dallas Cox, BE (Min), AusIMM Chartered Professional (Mining), an independent qualified person as defined by NI 43-101 and a Competent Person as defined by the JORC Code, has reviewed and verified the Mineral Resource and Reserve statements and statements of a development nature contained in this news release. Mr Dallas Cox has more than ten (27) years of experience in mineral resource and reserve calculation, open pit mine technical services, mine operations and management in Australia, China, Indonesia and the Philippines.

Boyd Willis, FAUSIMM, who is a Qualified Person as defined by National Instrument 43-101, and a Competent Person as defined by the JORC Code, has reviewed and verified the disclosure of a nickel processing nature contained in this news release. Mr. Willis has more than ten years of experience which is relevant to the activity which he has undertaken and he has consented to the release of the pertinent development related information in the form and context in which it appears.

2

DISCLAIMER AND QUALIFIED PERSONSF

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Mindoro Resources Ltd (TSXV/ASX:MDO): Philippines focussed, three key discoveries now funded, to be advanced towards development:

Gold spin-out deal with ASX listed Red Mountain Mining (ASX:RMX) to fund drilling to extend gold resources at Batangas: Indicated Resource of *10,150,000 tonnes @ 1.2g/t for 393,000oz of gold and an Inferred Resource of *3,800,000 tonnes @ 0.88g/t for 108,000oz of gold, with immediate further exploration potential based on high-grade intercepts and ten “drill-ready” copper-gold porphyry targets

Proposed strategic investment and joint ventures with Philippines based operator TVI Pacific (TSX:TVI) to fund the Direct Shipping Ore (DSO) project to production and complete a Processing DFS for the nickel resources at Agata: Measured and Indicated Resources *42.7mt @ 1% Ni, 430,000t Ni; Proved and Probable Reserves of *35.4mt @ 1.03% Ni.

TVI also has an option to joint venture finance exploration and resource definition of the Pan de Azucar copper-gold-(sulphur) Exploration Target: 8mt to 12.7mt @ 35-40% sulphur, 0.4-0.6% copper, 0.5-0.7 g/t gold.

Caution, detailed drilling will be required to convert the Exploration Target into NI 43-101-compliant resources. There is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. Until a feasibility study has been completed there is no certainty that the company's projections will be economically viable.

MINDORO RESOURCES: A VALUE INVESTMENT

3

*Refer to qualified person statement on slide 2

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Exchange & Symbol TSX-V: MIO, ASX: MDO, FFT: OLMShares outstanding 254mFully diluted 291mShare price (27 July 2012) $0.04Market capitalisation (27 July 2012) $10mCurrent treasury (27 July 2012) $1.5m (Approx)

CAPITALISATION ($CDN)

SHAREHOLDERS

4

Acorn Capital 15.8%IFC (World Bank) 9.1% (10.6% incl. Asian Lion interest)Asian Lion Ltd 7.9%Lion Selection 6.9% (10.0% incl. Asian Lion interest)US Global 1.3%Directors 3.1%Top 20 55.7%

MINDORO CORPORATE PROFILEF

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GOLD

*Batangas Projects(100% economic interest)

• Archangel (Gold) Resources• Lobo (Gold) Resources• El Paso, Calo, Talahib Cu-Au targets

NICKEL

MAP KEY

Mindoro projectMajor DepositRecent major discovery(within last 15 years)Producing Major MineFault

**Pan de Azucar Project (75%)

**Agata - Surigao Projects(75% economic interest, options for 100%)

• Agata Nickel Resources/Reserves

PORTFOLIO OF PROJECTS IN KEY MINING DISTRICTS

Coral Bay Nickel 21,000 Ni tpa(Sumitomo/Nickel Asia)

Taganito Nickel Project (Const.) (Sumitomo/Nickel Asia)

Masbate Gold 200,000oz pa (CGA Mining)

Co-O Gold 100,000oz pa(Medusa Mining)

COPPER-GOLD

Tampakan, Cu-Au, BFS (Xtrata/Indophil)

Didipio Cu-Au(Oceana Const.)

Sianna Gold 85koz pa, (Red 5)

*Tapian San Francisco Prospect (75%)

*Red Mountain Mining Sale**TVI JV Proposed

5

Far South East(Gold Fields)

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Established resources with exploration upside to be progressed towards development

GOLD AND COPPER-GOLD SPIN-OUT TO RED MOUNTAIN

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THE RED MOUNTAIN MINING TRANSACTION

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Mindoro has signed a binding Sale Agreement with Red Mountain Mining (RMX) to acquire the Batangas and Tapian San Francisco (TSF) assets of Mindoro for shares in RMX. The consideration (subject to close) will be:

100,000,000 full-voting shares in Red Mountain Mining and;

50,000,000 Performance shares in Red Mountain Mining that convert to full-Voting Shares upon increasing the Indicated Resource to 600,000 ounces and delivering an “economically viable” scoping study with a minimum conversion (to “ore reserve”) of 50% of the Indicated Resource.

The initial 100m voting shares to be distributed to Mindoro shareholders in 12 months (following ASX escrow) with the additional 50m performance shares, if converted, to be distributed 12 to 24 months from closing.

Commercial loan:

Mindoro has drawn A$200,000 of an up-to A$1 million secured loan facility to commence drilling of potential high-grade gold “feeder” targets at Archangel, Batangas.F

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SIMPLIFIED STRUCTURE POST RMX TRANSACTION

Red Mountain Mining

Mindoro Resources

Red Mountain Mining Singapore

100%

Philippines Subsidiary 100%

Tapian SF (75%) Batangas GoldProjects (100%)

75%

100%

100%

75% 100%

RMX shareholders

*35-44%*56-65%

Mindoro shareholders

75%Options for 100%

MDO Nickel Assets

100%

8

Pan de Azucar(75%)

Minimax, Philippines

Partner

25%

25%25%(MDO option)

MRL Nickel Phils. Inc. 100%

100%

*assumes no further capital raisings or options exercised in RMX.

Proposed Joint Ventures with TVI to earn 60%

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Sea

LOBO

LOBO PROJECT - SW BRECCIA,High grade epithermal gold veins; 5km to test

*NI 43-101/JORC Resource EstimateIndicated: 270,000 t @ 6.49 g/t (56,380 oz)

Inferred: 61,000 t @ 5.35 g/t (10,540 oz)

Tenements / applications

Porphyry copper-gold prospects

Resource area

Epithermal vein trends

Copper showing

Historical mine / workings

Other prospects

MAP KEY

4km0 N

Manila

Luzon

Mindanao

ARCHANGEL PROJECT - KAY TANDA,

*NI 43-101/JORC Resource EstimateMeasured and Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz)

Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz)Higher-grade ‘Feeder’ Intercepts: eg 61m @ 5.1 g/t Au

Talahib

Calo

El Paso

Marita

BATANGAS GOLD PROJECT & COPPER-GOLD TARGETS, 100%

9

Taysan Copper-Gold Resource(TSXV Crazy Horse Resources)

Meas. and Indicated 459mt @ 0.25% Cu, 0.10 g/t Au


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Sea

Biga

Marita

Bootin

N1 Km0

Archangel MPSA boundary

Younger cover rocks

Extensively altered volcanics intruded by diorite and dacite

Advanced argillic zones

Resource area

Epithermal gold-silver zones

Porphyry-related stockworks

Vein breccia

Boulder field of mineralized massive silicified rocks

Old mine working

Copper showing

Porphyry related IP anomalies

BATANGAS, ARCHANGEL PROJECT

MAP KEY

• 6 km gold anomalous zone• Near/at surface resources• High‐grade “feeder” intercepts EL PASO PROJECT

TALAHIB PROJECT

BATANGAS PROJECTS

Crazy Horse Taysan Project

KAY TANDA GOLD RESOURCE

ARCHANGEL PROJECT

LOBO GOLD PROJECT

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Next Slide

Kay Tanda *NI 43-101/JORC Resource EstimateMeasured and Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz)

Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz)

High-grade Intercepts at depth: eg 61m @ 5.1 g/t Au, 64m @ 3.5 g/t Au, 26m @ 4.03 g/t AuF

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KT-105

KT-13

KTDH-15KTDH-17

KTDH-19

KT-103KTDH-03

KT-106

KT-104

KTDH-20

KTDH-24

KT-68

KTDH-21

KTDH-04

KT-22KTDH-01

KTDH-23

KT-54

KT-93

KT-95

KT-92

KT-90

KT-91

KT-86

KT-70KT-71

KT-37

CA-01

CA-02

CA-03CA-04

CA-05

CA-06

CA-07

CA-08

CA-09

CA-10

CA-11

CA-12

CA-13

KT-01

KT-02

KT-03

KT-04

KT-05

KT-06

KT-07

KT-08

KT-09

KT-10

KT-100

KT-101

KT-102

KT-11KT-12

KT-14

KT-15

KT-16

KT-17

KT-18

KT-19

KT-20

KT-21

KT-23

KT-24KT-25

KT-26

KT-27

KT-28

KT-29

KT-30

KT-31

KT-32

KT-33

KT-34

KT-35

KT-36 KT-38

KT-39

KT-40

KT-41

KT-42

KT-43

KT-44

KT-45

KT-46

KT-47

KT-48

KT-49

KT-50

KT-51

KT-52

KT-53

KT-55

KT-56

KT-57

KT-58

KT-59

KT-60

KT-61

KT-62

KT-63

KT-64

KT-65

KT-66

KT-67

KT-69

KT-72

KT-73

KT-74

KT-75

KT-76

KT-77

KT-78

KT-79

KT-80

KT-81

KT-82

KT-83

KT-84

KT-85

KT-87

KT-88

KT-89

KT-94

KT-96KT-97

KT-98

KT-99

KTDH-02

KTDH-05KTDH-06

KTDH-07

KTDH-08KTDH-09

KTDH-10

KTDH-11

KTDH-12

KTDH-13

KTDH-14

KTDH-16

KTDH-18

KTDH-22

PL-01

PL-02

PL-03

PL-04

PL-05

PL-06

PL-07

PL-08

PL-09

PL-10

PL-11

PL-12PL-13

PL-14

PL-15

PL-16

PL-17

PL-18

PL-19

PL-20

PL-21PL-22

PL-23

PL-24

PL-25

PL-26

PL-27

PL-28

PL-29

PL-30

PL-31

PL-32PL-33

PL-34

PL-35PL-36

PL-37

PL-38

PL-39

PL-40PL-41

PLDH-01

PLDH-02KTD174

KTD179

KTD175

KTD176

KTD177

KTD178

KTD180

KTD182

KTD181KTD184

KTD183

KTD185

KTD186KTD187

PL189-11 PL190-11PL188-11

> 100

Au g/t X interval (m)

5 - 1515 - 30

50 - 100

< 5

30 - 50

Taysan Porphyry Cu‐Au Deposit

LOBO

Map AreaMap Area

Hydrothermal breccia / vein breccia

Quartz – Au –basemetal vein

Diamond drill hole

RC drill hole

Historical drill hole

Planned hole

River / creek

Old mine working

KTDH-04

CA11

N

KT-55

100 m0

MAP KEY

Kay Tanda Drilling ResultsGrade X meter

PDH-B

PDH-A

PDH-C

BatangasProjects

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ARCHANGEL PROJECT – KAY TANDA RESOURCEBatangasProjects

Interpreted mineralization boundary

MAP KEY

Interpreted “Feeder” / breccia

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MAP KEY


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MAP KEY


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BATANGAS, LOBO GOLD PROJECT

?

?

?

?

?

?

BalisongBalisong

NagtoctocNagtoctoc

Camo

PicaPica

Old Lobo Copper Mine

?

N500m0

AlluviumLimestoneMineralized and altered volcanicsMineralization shootEpithermal vein breccia trendSilica capOld MineHigh-Grade shoot target

EL PASO PROJECT

TALAHIB PROJECT

BATANGAS PROJECTS

Crazy Horse Taysan Project

KAY TANDA GOLD RESOURCE

ARCHANGEL PROJECT

MAP KEY

SW Breccia *Mineral Resource: High Grade Shoot• Indicated - 270,000 t @ 6.49 g/t Au; 56,380 oz Au• Inferred - 61,000 t @ 5.35 g/t Au; 10,540 oz Au• open to SW and depth

Lobo shoot?12m @ 7.42 g/t Au

Camo, at surface, 4.5m @ 488 g/t Ag, 1.8% Cu3.5m @ 114 g/t Ag, 0.36% Cu

Southwest BrecciaRecent results eg LB-62:

8.0m @ 8.8 g/t Au and 7.45m @ 12.4 g/t Au

Line 10170N

• High‐grade gold shoots targeted • 5km mapped epithermal lode structures

LOBO GOLD PROJECT

Pica: Epithermal veins: 13.65m @ 2.49 g/t Au in 213m @ 0.18% Cu, 0.30 g/t Au

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Trench

Outcrop

Drill hole number

Gold grade g/t x truevein width in meter

> 50

20 – 49

10 – 19

TROCLB-2079.5

10,1

55N

10,1

72N

10,1

85N

10,2

00N

10,2

15N

10,1

25N

10,1

00N

10,1

40N

20m

TR-1358.2

OC channel159.2

100

50

170mASL

150

B B’

TR-2210.1

LB59-1113.8 LB58-11

59.4

LB60-1119.3

LB61-11 Drill hole (2011)

BATANGAS, LOBO PROJECT, SWB SHOOTSOUTHWEST BRECCIA LONGITUDINAL PROJECTION, G/T x Thickness Contour

Batangas Projects

MAP KEY

?

?

LB61-1167.5

LB62-1192.23

LB63-1127.89

LB65-1136.2

LB64-1154.59

Open at Depth

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?

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10,000E

85.00m

104.50m

129.10m

57.30m

Trench: 11m @ 19.1 g/t Au

52.25m 69.40m

LB61-11

Batangas Projects

MAP KEY

SOUTHWEST BRECCIA CROSS SECTION 10172N

20m

Drill holeMineralized intercept

LB-07

End of hole75m

17.4m @ 9.60 g/t Au

8.3m @ 6.30 g/t Au

32.2m @ 9.50 g/t Au

14.0m @ 1.67 g/t Au

13.3m @8.30 g/t Au

180mASL

160

140

120

100

80

60

40

LB62-11

6.7m @ 10.7 g/t Au inc. 3.7m @ 18.0 g/t Au

LB65-11

Quaternary agglomerateQuartz - barite - pyrite vein brecciaQuartz - pyrite ± clay alterationClay - pyrite - quartz ± chlorite ±magnetite alterationQuartz - clay - pyrite alterationPropylitized andesite wallrock (chlorite - clay - pyrite ± quartz ±calcite ± magnetite)Fault gouge

11.90m

7.45m @ 12.4 g/t Au inc. 5.30m @ 15.6 g/t Au

9,950E

30.25m

57.60m

7.75m @ 4.67 g/t Auinc. 1.95m @ 11.8 g/t Au

8.0m @ 8.82 g/t Au inc. 3.0m @ 15.4 g/t Au

BATANGAS, LOBO PROJECT, SWB SHOOT

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PHILIPPINE FAULT ZONE

Mindanao Sea

LakeMainit

SURIGAO CITY

TSF Tenements

TSF alteration (hi-temp propylitic, argillic, phyllic, potassic)Major porphyry copper-gold discoveryPorphyry copper-gold prospectsCopper-gold / gold mine or significant prospectOther copper-gold or gold prospectFault

MAP KEY

10 km0N

Manila

Luzon

Mindanao

PAN DE AZUCAR

BATANGAS

SURIGAO PROJECTS

SILANGAN (Boyongan‐Bayugo)Philex Mining, in feasibilityResource contains 5b lbs Cu, 9moz Au

g

Epithermal gold and porphyry copper‐gold mines of MMC

SIANA PROJECT –Red 5 (ASX)

In production for 85k oz pa

MasapelidMasapelid

PORPHYRY COPPER-GOLD: TAPIAN-SAN FRANCISCO

18

TAPIAN SAN FRANCISCO (TSF) PROJECTExtensive Porphyry‐related alteration, copper‐gold showings, IP geophysics

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INDICATIVE RMX TRANSACTION TIMETABLETimetable Date

Mindoro AGM for Shareholder vote on transaction (Australian timing) 28 June 2012

Completion of due diligence by Mindoro and Red Mountain Mining 20 July 2012

Execute Share Sale Agreements (binding), Loan Agreements 23/24 July 2012

Mindoro gold “feeder” drilling commences, funded by loan from RMX 7 August 2012

Red Mountain Mining Shareholder Meeting 4 September 2012

Completion of Sale under Agreements, Satisfaction of Conditions Precedent and issue of 100m Consideration Securities to Mindoro

Late September 2012

Resource Upgrade and Scoping Study Batangas gold projects Q2/3 2013

If performance share milestones met, RMX issues additional 50m shares to Mindoro. Commence gold project permitting and feasibility Q2/3 2013

In specie distribution of RMX shares to Mindoro shareholders *September 2013(subject to ASX escrow release)

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Two stage development strategy for DSO cash flow then processing project

MINDORO’S AGATA NICKEL LATERITE PROJECT F

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THE TVI PACIFIC STRATEGIC FUNDING AND JV PARTNERSHIPS

21

Mindoro has signed a Heads of Agreement with TSX listed and Philippines mine and processing plant operator, TVI Pacific (TSX:TVI) deal includes:

A securitized loan of C$0.94m (July 2012)

Subject to satisfactory completion of due diligence (by end August 2012):

A two-stage private placement totalling C$3.155 million in Mindoro @ C$0.05 per share with an attached Warrant exercisable at C$0.10 per share:

• Tranche 1: C$0.94m in late August 2012 (repaying the securitized loan) and

• Tranche 2, subject to shareholder approval in late September 2012: C$2.2m

Agata Mining/DSO Joint Venture, TVI to fund development of Direct Shipping Ore (DSO) production to earn 60%. Minimum commitment C$2m in year 1.

Agata Processing Joint Venture, TVI to fund completion of a Definitive Feasibility Study (DFS) to earn 60%. Minimum commitment C$2m in year 1.

Option for TVI to form a Joint Venture on the Pan de Azucar Project. Terms and conditions to include US$2 million to earn 51% then an option to spend another US$3 million to earn an additional 9%, increasing TVI’s interest to 60%.

Additional details in release of 6 July 2012.For

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LakeMainit

SURIGAO CITY

Philippine Sea

Butuan Bay

AGATA *MINERAL RESOURCECombined Limonite & Saprolite

Measured & Indicated42.7M DMT @ 1.01% Ni

Inferred2.4M DMT @ 0.99% Ni

Proved and Probable Reserve: 35.4mt @ 1.03% Ni

10 defined regional targets5 drilled to date

BOYONGAN-BAYUGO Copper-Gold Project

Philex

SRMI DSO

22

Manila

Luzon

Mindanao

TAGANITONickel Asia – Sumitomo HPAL, in construction

SURIGAO MINING DISTRICT: KEY PROJECTS

Mindoro tenements / applications

Nickel laterite mineralization

Nickel laterite mine

Recent porphyry copper-gold discovery

Porphyry copper-gold prospects

Gold mine or prospect

Fault

Drilled area

N10km0km

MAP KEY

TAPIAN

AGATA SOUTH

CANAGA

TAPIAN

KARIHATAG

BOLOBOLO

AGATA NORTH

AGATA NICKEL (75%, Options 100%)


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AGATA NICKEL PROJECT MINERAL RESOURCE, RESERVE

23


The company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

*Mineral Reserves from December 2011 PFS Technical Report*Mineral Resources Released September 2011

Inventory / Reserves M WMT M tonnes Ni % Co % Fe %

Total potential DSO Limonite (13.7) (9.0) (0.89%) (0.11%) (46.5%)Including High Fe Limonite 6.4 4.2 0.86% 0.11% 48%Including Medium Fe Limonite 7.3 4.8 0.91% 0.11% 45%

Limonite to Upgrade / Atmospheric Leach 3.1 0.95% 0.11% 45%Saprolite to Hydromet Atmospheric Leach 23.3 1.10% 0.03% 12%Total Proven and Probable Reserve 35.4 1.03% 0.06% 24%

Measured and Indicated Resource RemainingLimonite Resource Remaining 1.4 0.80% 0.10% 43%Saprolite Resource Remaining 6.0 0.92% 0.03% 9%

Total Meas. and Indicated Resource 42.7 1.01% 0.05% 22%Inferred Resource

Limonite 0.7 0.80% 0.09% 40%Saprolite 1.7 1.06% 0.03% 12%

Total Inferred Resource 2.4 0.99% 0.05% 20%

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SRMI Mine

MindanaoSea

Agata Nickel Laterite Project

Agata South Nickel Laterite

Project

Mindoro Tenements:MPSA & Application

Nickel laterite resource

Completed drill holes to date

Trench

River / creek

Road

TrailN

0 200m

Aug 19, 2010

1000

0E

9000

E

10000N

11000N

9000N

8000N

1100

0E

Min

dana

o S

ea

XS 9550N XS 9550N

AGATA NICKEL LATERITE PROJECT

MAP KEY

AGATA NICKEL PLAN (GRADE X THICKNESS)

24

< 2

LEGEND

10 - 20

2 - 10

Ni % X meter

> 30

20 - 30

LEGEND

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AGATA NICKEL LATERITE CROSS SECTION

25

A

Thickness of intercept (m)

Fe%Ni%

1.09 /41.615.00

46m

Drillhole number

Ferruginous LateriteLimoniteBoulderSaproliteSaprolitic rockBedrockEnd of hole

AGL-362

AGATA NICKELLATERITE PROJECT

Cross Section Line 9550N

9300E8900E

050m

50m

9100E 9200E9000E

2.001.08 /49.340.90 /50.00

13.1511.45 4.001.41 /11.561.55 /18.00

2.900.63 /48.00

0.92 /53.00

0.69 /47.78

0.94 /51.475.15 1.10

1.87 /12.817.95 6.65

0.96 /11.00

4.850.53 /49.77

4.00

0.96 /53.485.30 4.25

1.43 /12.6410.90

1.39 /15.907.15

1.29 /8.00

1.18 /40.001.15

0.90 /51.042.00

250m

150m

AGL‐140

AGL‐146AGL‐500

22.15m

26.8m19.4m25.3m

15.1m

20m

AGL‐499AGL‐142

AGL‐341

16m

AGL‐498

200m

300m ASL

100m

LIMONITE

FERRUGINOUS LATERITE

SAPROLITE

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26


Ideal Location:• Resources are <1km from sheltered, deep ocean• Wharf facilities located on adjacent property, SR Metals• No trees or population on resources

Key Permits:• MPSA – granted for 25 years (1999 – 2024)• Environmental Compliance Certificate (ECC) – for up to 2m dry tonnes pa• Next step: Declaration of Mining Project Feasibility (DMPF) - *4-8 months targeted,

(*subject to lifting or no applicability of Moratorium under Executive Order 79 of the Philippines Government)

• Basic infrastructure for stage 1 constructed during DMPF

Scoping Study (Mar 11), to be upgraded to Feasibility study during permitting: • $8M Capex, 9m WMT (2.25m WMT pa) / 6m DMT over 4 years (1.5m DMT pa)

STAGE 1: AGATA DIRECT SHIPPING OPERATION

AGATA NICKEL PROJECT: STAGE 1 DSO FOR CASHFLOWF

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STAGE 2: ACID LEACH PROCESSING OPERATION

AGATA NICKEL PROJECT STAGE 2 PROCESSING

Sumitomo/Nickel Asia Coral Bay HPAL processing operation, US$550m Capex 2002 -2004, 21,000t Ni pa @ <$2.50/lb Opex to Intermediate Product

Pre-Feasibility Study (PFS) Nov 11: HPAL - Atmospheric Leach (AL)• Outstanding Metallurgy:

- HPAL 95% - 97% Ni <20 minutes - Atmospheric Leach (AL) 95%-98% Ni in 2-4 hours- Saprolite Neutralisation: 85% Ni from “spent” acid

• 1.8m tpa processed, 17,200t nickel in MHP (40% Ni), 15-20 years• Capex $940m (Including 14% estimate but no project contingency) • Opex $2.60/ Ni lb with cobalt and power generation credits• Cash flow $150m per annum; payback 5.5 years • NPV(8%) @ $10/lb nickel price: $380M; IRR 14%

Flow sheet being modified to lower Capex Atmospheric Leach:• Lower Capex, 10,000t to 15,000t Ni pa in intermediate product (MHP or MS)• Similar Opex targeted due to new acid recycling technology• Next step: partner funded pilot testing - Definitive Feasibility Study (DFS)

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Agata MPSA

MindanaoSea

Agata (North) Nickel Laterite

Resource

Agata South Nickel Laterite

Resource

PFS Proposed Processing Plant

SRMI Nickel DSO

PFS Proposed Residue Storage

SRMI Tubay Wharf

0 1km

AGATA NICKEL PROJECT DEVELOPMENT PLAN

• Capex $8m (March 2011 Scoping Study)• ~1.5m dry / 2.25m wet tonnes pa

Development to be completed by TVI, DSO production targeted *2013 to earn 60% *subject to lifting or no applicability of Moratorium under Executive Order 79 of the Philippines Government

Stage 1: Direct Shipping Ore (DSO)

• Capex $940m (November 2011 PFS)• 17,200t Ni in mixed hydroxide pa

DFS to be completed by TVI Pacific to earn 60%, likely to be “cut-down” atmospheric leach approach

Stage 2: Hydromet Processing (PFS)

The company’s production objectives are intended to provide an indication of

management’s current expectations and are still conceptual in nature. It is

uncertain that it will be established that these resources will be converted into

economically viable mining reserves. Until a feasibility study has been completed,

there is no certainty that these objectives will be met.

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BebsHill

Mt. Lo-oc

Valderama Hill

Pabilona Hill

AsparinHill

FerrarisHill

11

23

241422

2526

1009

0812

1917

18

0503

060713

15 20

2102

01

1604

200m0

N

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28

30

29

31

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Manila

Luzon

Mindanao

PAN DE AZUCAR PROJECT

BATANGAS PROJECTS

SURIGAO PROJECTS

Quaternary alluvium

Andesitic flow dome

Andesite and dacite tuffs & volcanics

Dacitic volcanics & volcaniclastics

Interpreted fault

Collapsed features / ring faults

Creek

Dill hole (2001-2002)

Drill hole (2011)

MPSA boundary

07

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Boundary defined from drilling

Boundary defined from geophysical and geochemical data

Vuggy, leached, quartz alunite altered boulders

Dark grey – dark red ferruginous boulders

Topography

Valderama zone

MAP KEY

PAN DE AZUCAR PROJECT (75%)• Massive sulphide sulphur‐copper‐gold deposit• Defined Exploration Target:

‐ 8 – 12.7 million tonnes, ‐ 35 – 40% sulphur, ‐ 0.4 – 0.6% copper‐ 0.5 – 0.7 g/t gold

• Metallurgy for acid (Ni) and copper‐gold leach• Plunging shallowly north, open north and east• More drilling and metallurgy required for resource

Caution, the Valderama massive sulphide is currently an Exploration Target only. Detailed drilling will be required to convert the Exploration Target into NI 43-101-compliant resources. There is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation. Until a feasibility study has been completed there is no certainty that the company's projections will be economically viable.

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‐50

50

21,700N21,600N

PDA‐23

111.6m

21,500N21,400N

95.4m

PDA‐14PDA‐22PDA‐12

95.55m

130.5m

PDA‐18PDA‐03

21,100N

50m

PDA‐20

36.8m

94.5m98.0m

21,200N 21,300N

PDA‐01

90.65m

21,000N20,900N

PDA‐27PDH‐05

? ? ??

51.90m

15.6m

‐100

100

LS LS'

HOLE NO. FROM (m) TO (m) RUN (m) Au g/t Ag g/t Cu % Zn % Sulphur%

PDA-18 35.6 94.9 59.3 0.90 3.45 0.45 0.45 39

PDA-20 1.6 33.3 31.7 1.15 6.12 0.48 28PDA-21 2.8 42.0 39.2 1.00 15.71 1.89 2.02 42PDA-22 10.0 23.0 13.0 0.62 8.61 2.53 40PDA-22 38.1 85.6 47.5 0.75 1.01 0.09 41PDA-25 11.1 87.1 76.0 0.64 4.54 0.38 34Including 23.1 40.0 16.9 0.59 3.06 1.01 36

PDA-28 9.2 13.1 3.9 0.78 55.31 5.30 5.11 38PDA-28 20.75 75.55 54.8 0.77 11.52 1.17 0.68 40

PAN DE AZUCAR MASSIVE SULPHIDE MINERALIZATION

LONGITUDINAL SECTION (LOOKING NW)

PDA‐21 PDA‐25

PDA‐28

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TVI FUNDED NICKEL DEVELOPMENT TIMETABLETimetable Date

TVI Pacific strategic funding and joint venture Heads of Agreement signed 6 July 2012

Mindoro draws securitized loan of $0.94m 12 July 2012

TVI Due Diligence, Tranche 1 investment, JV Agreements, Meeting Material 27 August 12

Mindoro shareholders meeting to approve Tranche 2 investment ($2.2m) 26 September 12

Final permitting and feasibility Stage 1 DSO; Update processing economics Q4 2012

Stage 1 DSO final permitting, then production and cash flow anticipated 2013 (Subject to EO79 Moratorium)

Stage 2 Processing pilot testing of new atmospheric leach flow sheet Q1/2 2013

Stage 2 Processing DFS Q3/4 2013

Subject to DFS: Financing and construction of nickel processing plant. 2014

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The company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.F

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Mindoro Resources: Philippines focussed, three key discoveries to be advanced towards development:

Spin-out of Batangas gold resources and Cu-Au porphyry targets to Red Mountain Mining (ASX:RMX):

- gold drilling, resource upgrade and scoping study, gold development focus

- release of value in gold focused vehicle, MIO shareholders to 56% to 65%

Strategic partner funding and JV’s to fund Agata nickel two stage development strategy from TVI Pacific (TSX:TVI):

- stage 1 DSO cash flow targeted in 2013 (subject to EO79 Moratorium lifted or not applying)

- stage 2 pilot testing and DFS for “cut-down” atmospheric leach processing plant

Copper-gold-(Sulphur/pyrite) resource target at Pan de Azucar to be drilled, TVI option to JV

Focused strategy on taking projects from discovery to production

IN SUMMARY:

Contact details at www.mindoro.com

ASX: MDO TSXV: MIO FFT: OLM

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The company’s production objectives are intended to provide an indication of management’s current expectations

and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted

into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that

these objectives will be met.

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Documents

For personal use only partnership with TVI Pacific · Forward Looking Statements: This presentation may contain forward-looking statements including management's assessments of future