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BLACKHAM RESOURCES - FOCUS

Rapid expansion at BLK’s 100% owned Matilda Gold Project over the last 2 years

Acquisition of WGP plant & infrastructure unlocks value in Matilda Gold Project

4.3 Moz Au resource, 55kms of strike and 780km2 landholding

Acquisition, exploration & development cost ~ A$3/oz Au resource

Exploration focus on free-milling mineralisation

Market cap ~ A$23 Million or less than EV $5/oz gold resource

BLK 12mth share performance +44% compared to XGD +15%

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BOARD OF DIRECTORS

Paul Murphy Independent Non-Executive

Chairman

Bryan Dixon Managing Director

Alan Thom Executive Director - Development

Greg Miles Non-Executive Director

Joseph Gutnick Non-Executive Director

CAPITAL STRUCTURE

Market cap. @ A$0.19 A$23M

Shares on issue 118.6M

Options @ A$0.20 – A$0.35 16.1M

Cash & liquids @ 30 June 2014 A$2.0M

Debt nil

SHAREHOLDER ANALYSIS

Top 20 68%

Polo Resources Limited 17.4%

Mazil Pty Ltd 13.4%

Citicorp Nominees 8.2%

HSBC Nominees 7.0%

Kingsreef Pty Ltd 5.4%

Widerange Pty Ltd 2.3%

BLK +44%

XGD +15%

CORPORATE OVERVIEW F

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The right address - low sovereign risk

Large, highly prospective tenement

holding in the Northern Yilgarn, Western

Australia

Regional endowment >35Moz

8Moz endowment in the expanded

Matilda project including 4Moz

production

1.3 Mt plant & infrastructure

Well positioned for new discoveries and

economic development of existing

resources

MATILDA GOLD PROJECT F

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MATILDA GOLD PROJECT

Resource 40Mt @ 3.3 g/t for 4.3Moz Au

4Moz of historical production

+780 km2 of tenure & 55km of mine sequence strike

All deposits within 26km of Blackham’s gold plant by existing haul roads

Little systematic regional exploration in over a decade

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JORC Resources 40Mt @ 3.3g/t for 4.3Moz Au

Mix of open pit & high grade underground ore

Land holding 780km2 – 55km of mine strike

Plant 1.3Mtpa capable of treating oxide for 80 -100kozpa1

Biox circuit capable of treating refractory ores

350 person village & established sealed airstrip and roads

Gas power station & diesel backup

Permitted borefields and infrastructure

Operating approvals and licenses

1 assumes production from the Galaxy, Matilda and Golden Age deposits. Approximately 75% of the mineral inventory is to a measured and

indicated resource category. 25% of the pit areas are inferred resource. There is a low level of geological confidence associated with inferred

mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that

the production target itself will be realised.

CONSOLIDATED MATILDA PROJECT

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Mill 1 Up to 1Mtpa

Oxide Ore

Mill 2 Circuit Up to 550,000tpa Underground Ore

Mill 1 & 2 Circuit 1.3 Mtpa

WGP PROCESSING CIRCUIT

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Keep operations on care & maintenance while building ore reserves

Aggressive exploration strategy to focus on new oxide and/or free-

milling high grade underground ore bodies

Rigorous feasibility study prior to a development decision

Plant can be used in its current location

Low risk process: crush, grind, gravity and CIL

Utilise both ball mills for free-milling ore for 1.3Mtpa

Refractory circuit moth balled - possible toll treating options

Plant refurbishment to be out of debt

MATILDA STRATEGY: Free milling focus

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Advanced Resources - Development Targets

Brown Fields

Green Fields

Matilda Extensions

Golden Age Repeats

Carroll – Prior

Regent, East & West Lodes

Caledonian Trend

Mentelle, Trend, Galaxy North,

Galaxy

Matilda

Golden Age UG

Williamson

Focus on converting resources to reserves at development targets and finding new deposits in brown and green fields

DEVELOPMENT & EXPLORATION

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52,000oz Au Inferred Resource located 13kms NNW of the WGP plant

February & April drilling

9m @ 13.4 g/t from 73m incl

4m @ 27.9 g/t

2m @ 28.9 g/t from 23m

6m @ 8.82 g/t from 13m

4m @ 19.6 g/t from 37m

Historical intercepts

4m @ 11.5g/t from 56m

3m @ 11.3g/t from 4m

4m @ 12.3g/t from 6m

8m @ 9.65g/t from 72m

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GALAXY – high grade quartz reef from surface

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Open up-dip 1.7m @ 11.91 g/t 2.6m @ 25.40 g/t 5.03m @ 11.73 g/t

Open along strike 2.3m @ 15.78 g/t 2.0m @ 20.95 g/t 7.8m @ 7.2 g/t 1.75m @ 11.61g/t

Open at depth 7.4 m @ 7.56 g/t 7.0m @ 11.61 g/t

High grade quartz reef Produced 160,000oz Au @ 9g/t Mine ready – development costs sunk

Republic Reef 1.6m @ 12.7 g/t (103m) 2.5m @ 8.3 g/t (312m)

Brothers Reef 6m @ 4.5 g/t (194m)

0.6m @ 11.2 g/t (431m)

GOLDEN AGE U/G F

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Scoping Study pits and resources at Matilda

RESOURCES Mt g/t

Au

Oz

Au

Measured 0.1 2.4 9,000

Indicated 4.7 2.0 300.000

Inferred 8.2 1.7 450,000

TOTAL 13.0 1.8 760,000

Production (1987-1992):

2.2 Mt@ 2.6g/t = 181,000oz au

Mostly oxide material mined from 7 shallow

pits, generally to < 50m

Existing mining lease and previous

Notice of Intent to mine

Mining heritage agreement

Historical mining data - basis for

feasibility studies

MATILDA MINE - Near term mining opportunity

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High-grade mineralisation in pit floor

Outstanding drill results:

35m @ 5.05g/t (114m) incl 12m@ 9.1g/t

7m @ 11.9g/t (244m)

West Lode remains open – priority target

M1 DEPOSIT

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Historical mining: 386,000t @ 2.2g/t au to < 50m depth

Resource 204,000oz Au with 93% < 160m from surface

Mineralisation extends 1,000m north of the old pit & still open

Recent high grade intercepts include:

• 10m@5.47g/t 120m)

• 5m@5.30g/t (125m)

• 12m@4.76g/t 119m)

• 4m@10.3g/t (20m)

M4 DEPOSIT - Shallow deposit open along strike

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WILLIAMSON DEPOSIT – up to 40m wide

High-grade shear zones bounding monzogranite stockwork up to 40m wide, free-milling ore

High-grade mineralisation beneath current pit Williamson Pit – mining 2006

3m@40.1g/t from 117m

3.5m@35.5g/t from 372m

4.3m@17.0g/t from 136m

Mining ceased Sept 2006,

gold price avg = A$730/oz

RESOURCES Mt g/t Au Oz Au

Indicated 2.7 1.7 148,000

Inferred 3.6 1.8 202,000

TOTAL 6.3 1.7 350,000

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Large mineralised system 19km south along

strike from Wiluna

350Koz resource at Williamson, structural

setting similar to Wiluna – potential cluster

of deposits

Carroll -Prior targets

Previous drilling identified continuous

mineralisation over 3km

Infill drilling to define resources

Extensions to Williamson splay lode

LAKE WAY & WILLIAMSON

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Potential large tonnage, near surface

Deeper drilling to identify high grade primary mineralisation

3kms of strike with continuous mineralisation

CARROLL PRIOR PROSPECTS

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SIGNIFICANTLY UNDERVALUED RELATIVE TO AUSTRALIAN PEERS

UNDERVALUED RELATIVE TO AUSTRALIAN PEERS

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4.3Moz gold resource - 46% measured & indicated

Plant capacity 1.1-1.5 Mtpa for 80,000–100,000ozpa1

Conventional low risk plant configuration

Exploring regional free milling opportunities - 55km of strike & 780km2

Extend mine life to 5+ years of free milling ores

Existing plant & infrastructure minimises risk

Very low capital - high return opportunity

MATILDA VISION

1 assumes production from the Galaxy, Matilda and Golden Age deposits. Approximately 75% of the mineral inventory is to a measured and

indicated resource category. 25% of the pit areas are inferred resource. There is a low level of geological confidence associated with inferred

mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that

the production target itself will be realised.

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This presentation includes certain statements that may be deemed ‘forward-looking statements’. All statements that refer to any future

production, resources or reserves, exploration results and events or production that Blackham Resources Ltd (‘Blackham’ or ‘the

Company’) expects to occur are forward-looking statements. Although the Company believes that the expectations in those forward-

looking statements are based upon reasonable assumptions, such statements are not a guarantee of future performance and actual

results or developments may differ materially from the outcomes. This may be due to several factors, including market prices,

exploration and exploitation success, and the continued availability of capital and financing, plus general economic, market or

business conditions. Investors are cautioned that any such statements are not guarantees of future performance, and actual results or

performance may differ materially from those projected in the forward-looking statements. The Company does not assume any

obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

The information contained in the report that relates to Exploration Target and Exploration Results, at the Matilda Gold Project is based

on information compiled or reviewed by Mr Greg Miles, who is a full-time employee of the Company. Mr Miles is a Member of the

Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit

under consideration and to the activity which is being undertaken to qualify as a Competent Persons as defined in the 2012 Edition of

the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Miles has given consent to the

inclusion in the report of the matters based on this information in the form and context in which it appears.

With regard to the Matilda Project Resources, the Company is not aware of any new information or data, other than that disclosed in

this report, that materially affects the information included in this report and that all material assumptions and parameters

underpinning Mineral Resource Estimates as reported in the market announcement dated 23rd of January 2014 continue to apply and

have not materially changed.

The information contained in the report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves at the

Wiluna Gold Project is based on information compiled or reviewed by Mr Greg Miles, who is a full-time employee of the Company. Mr

Miles is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation

and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Persons as defined in

the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Miles has given

consent to the inclusion in the report of the matters based on this information in the form and context in which it appears.

DISCLAIMERS & IMPORTANT INFORMATION

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Bryan Dixon Managing Director

Blackham Resources Ltd

E: admin@blackhamresources.com.au

T: +61 8 9322 6418 | F: +61 8 9322 6398

A: Level 2, 38 Richardson Street,

West Perth WA 6005

P: PO Box 1412, West Perth WA 6872

W: www.blackhamresources.com.au

ASX Code: BLK

Project partners:

CONTACT DETAILS

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See ASX announcement 20th January 2014 for JORC Table 1 information.

Table 2. Wiluna Gold Project Resource Summary (JORC 2004)

Lode

Indicated Inferred Total

Mt g/t Au Koz Au Mt g/t Au Koz Au Mt g/t Au Koz Au

Henry 5 – Woodley - Bulletin

2.1 5.9 404 0.8 4.6 112 2.9 5.6 516

Burgundy - Calais

1.3 6.0 250 0.3 5.7 58 1.6 6.0 309

East Lode 1.2 5.4 213 2.6 5.5 453 3.8 5.4 667

West Lode Calvert

1.2 5.3 198 2.3 5.3 383 3.4 5.3 581

Happy Jack - Creek Shear

1.5 5.9 289 1.3 4.8 205 2.9 5.4 494

Other Deposits 0.8 4.0 109 1.3 4.1 172 2.1 4.1 281

Wiluna Total 8.2 5.6 1,465 8.6 5.0 1,384 16.7 5.3 2,848

Table 1. Matilda Gold Project Resource Summary (JORC 2012)

Mining Centre

Measured Indicated Inferred Total

Mt g/t Au

Koz Au

Mt g/t Au

Koz Au

Mt g/t Au

Koz Au

Mt g/t Au

Koz Au

Matilda Mine

0.1 2.4 9 4.7 2.0 300 8.2 1.7 450 13.0 1.8 760

Williamson Mine

2.7 1.7 150 3.6 1.7 200 6.3 1.7 350

Regent 0.7 2.5 61 3.1 2.1 210 3.9 2.2 270

Galaxy 0.6 2.9 52 0.6 2.9 52

Matilda Total 0.1 2.6 9 8.1 2.0 510 16 1.8 910 24.0 1.9 1,400

APPENDIX A: GOLD RESOURCES

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Paul Murphy – Independent Non Executive Chairman

Mr Murphy is a former banker with extensive experience in

finance, strong relationships within the banking, finance and broking community as well as an impeccable reputation in the industry. He has extensive experience in running a large business in a consultative manner, whilst always keeping strategy, direction, results and reputation in focus. His banking experience extends across finance, fixed income, currencies and commodities whilst his geographic experience crosses Australia, Asia and America.

Bryan Dixon – Managing Director

Bryan’s skills and experience include project acquisition, mine development and financing. Has been involved in feasibility and financing of 3 gold mines. Having previously worked with KPMG, Resolute Limited, Société Générale and Archipelago Resources Plc, he has substantial experience in the mining sector and the

management of listed public companies.

Alan Thom – Executive Director - Mining Engineer

Alan, a mining engineer, has extensive experience as a senior manager and executive in the UK, Africa and Australia. He holds a Western Australian First Class Mine Managers Certificate and has held statutory mine and management positions for Newmont in both underground and open-pit operations at Jundee and

Bronzewing. Alan has managed a number of definitive and bankable feasibility studies for significant resource projects. He also consults to a number of resource companies on business and project development.

Greg Miles – Non Executive Director - Geologist

Greg graduated from the Australian National University in

Canberra as a geologist and has since worked in a number of different commodities and mineral provinces across a broad portfolio of grass-roots to development projects. Professional highlights include involvement in the discovery of the 2.3Moz Centenary Deposit at the Darlot Gold Mine in the Eastern Goldfields, WA and the 40Mt Mount Caudan Iron Ore Deposit in the southern Yilgarn, WA.

Joseph Gutnick – Non Executive Director

Mr Gutnick has been a director of numerous mining companies including Great Central Mines Ltd (GCM) which he built into one of Australia’s most successful gold mining companies. Under his stewardship, GCM discovered the Plutonic Gold Mine and explored, developed and operated the Bronzewing and Jundee Gold Mines, three world-class gold mines. GCM produced over

780,000oz of gold per annum at its peak. He was awarded the Diggers award at the 1997 Diggers and Dealers Industry Awards and is a former Director of the World Gold Council. He is also a Fellow of the AusIMM.

MANAGEMENT

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GALAXY NORTH

• Structural analogue to Wiluna Mine

• Dextral offset fault in mafic mine sequence

• Approx 2km prospective zone

• This setting hosts 6Moz at Wiluna as well as

mineralisation at Regent. The target is a

Wiluna-style mine camp

• Galaxy deposit possibly part of mine camp cluster

• Only minor drilling – exploration hampered

by thin cover of overlying basin sediments

2km

NB. Figures at same scale

Galaxy

Deposit

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3km strike from plant to Caledonian Pit

Drilling indicates potential for open-pit

resources. Quartz hosted – free milling

Very shallow RAB drilling (~5m) &

limited RC to 60m - little surface

expression to 20m with most drilling

ineffective

Nearby historical workings at Derwent

& Monarch open pit potential

Derwent: 3m @ 50.6 g/t from 25m

Monarch: 6m @ 19.4 g/t from 44m

7m @ 7.15 from 40m

6m @ 6.2 from 20m

12m @ 5.68 from 27m

5m @ 5.01 from 20m

CALEDONIAN TREND

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Very limited drilling of high grade

down-plunge targets

Limited drilling along strike of existing pits

Pit convergence lowering stripping ratios

Further resources upgrades

Extensions of known lodes

Discovery of new lodes between pits

MATILDA MINE CENTRE

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Historical drilling identified mineralisation

up to 3km from the mine area

Strike extensions partly covered by

drainage – impediment to historical

exploration = opportunity

Mentelle trend… parallel structure?

Mentelle prospect potential resource with

Matilda characteristics

Large RAB program to test structure

Matilda extension vector also provides

bulls-eye target

Target

4m @ 13.9 g/t (64m)

M11 6m @ 13.9 g/t (22m) 4m @ 9.51 g/t (22m)

Mentelle

4m @ 13.4 g/t (boh)

MATILDA EXTENSIONS & Mentelle Shear

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700m of strike and still open

Excellent grades and widths

–steep dilatant structures

open at depth

Good continuity, robust

deposit

Additional extension drilling

down plunge required

Open

RESOURCES Tonnes g/t Au Contained Oz Au

Indicated 738,000 2.5 69,000

Inferred 3,108,000 2.1 211,000

TOTAL 3,846,000 2.2 270,000

Considerable scope to increase deposit

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ADVANCED RESOURCES – REGENT

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► Long History of Production +4Moz

► Historical Oxide, Quartz, Tailings ~1Moz

► 1897 – 1924 Oxide & Quartz 186,000 oz

► 1984 – 1993 Oxide & Tailings 770,000 oz

► BIOX Fitted to Existing Oxide Plant (Com May 1993)

► 2007 Oxiana (Oz Minerals) acquires Agincourt

► 2007: Project broken up - Wiluna mine assets sold to Apex for $29.5M

► Apex spends $71M on exploration expenditure

► Minmetals Acquires Oz Minerals

► Nov 2011 Blackham acquires Matilda Gold Project for $1.4M

► Mar 2014 Blackham acquires WGP $2M upfront and $2.6M in deferred consideration

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HISTORY OF WILUNA GOLDFIELD

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