Magnetite Range Mid West Magnetite Project

AGM 2009

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Overview

•

Revamped Project Focus –

Magnetite Range •

Now 100% owned by Accent•

Mid Western Locality is a hive of activity for Iron Ore•

Resource Drilling Program finished–

More than 19,000m of drilling completed•

New magnetite zones in southern parts of project identified•

JORC Resource imminent–

Target 300 –

500Mt* •

Extensive Metallurgical Testwork

already done–

Process Design Criteria set for a 5 Mtpa

concentrator–

Competitive magnetite concentrate specifications–

Favourable

concentrator operating costs –

Processing testwork

and flowsheet

optimisation

on-going•

Rapid transition to feasibility study–

Project Infrastructure CAPEX & OPEX being developed–

Groundwater investigations proceeding

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Corporate Snapshot

Capital Structure

Ordinary Fully Paid Shares @ 30 June 2009 126,000,233

Unlisted Options 12c (expire 31st

July 2010) 10,000,000

12 month high‐low $0.37 ‐

$0.055

Directors & Management

Ian Hastings Chairman

Fiona Li Kit‐Chi Non Executive Director

Jun Sheng

Liang Non Executive DirectorIan Richer Non Executive DirectorTerry Butler‐Blaxell Technical DirectorRanko Matic Company SecretaryPhilip Ash Exploration Manager

Top 10 Shareholders (October 2009)Grandmaster Fortune Limited 21,563,603Rich Mark Development (Group) Pty Ltd 17,140,589

Cascade Holdings Pty Ltd 4,850,000Academic Growth Institute Fund Pty Ltd 3,495,469Mr Vincenco

Alac 2,600,000Mrs Li Li

Zhao 2,002,500Ascot Nominees Pty Ltd 2,000,000Mr Alan Wolstencroft 1,910,000JF Apex Securities Berhad 1,899,000Legend Mining Limited 1,500,000

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Midwest –

The Other Iron Ore Region

Magnetite Range Project – Close to the Action

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Strategic Location

•

Adjacent to Emerging Producers

•

Readily Accessible via Sealed Highway

•

Infrastructure Upgrades in Mid-West Region–

Rail

•

490km Oakajee Rail Network extension into Mid-West –

to be confirmed

–

Energy

•

Looping of DBNG pipeline to increase supply to >900 TJ/day•

Stage One 330kv network upgrade approved by State Government•

Future power transmission lines to Karara

and Extension Hill Projects

–

Port

•

Planned 35Mtpa Common User port at Oakajee, Govt

funding for $678m•

Recent Port Upgrades at Geraldton

Port Berth 5 for Iron Ore•

Possible future expansions at Geraldton

Port for 22 Mtpa

Iron Ore

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Drilling Concluded -

JORC Resource NextTarget 300 – 500 Mt *

Extensive resource drilling completed

128 holes RC & Core

More than 19,000 metres of drilling

Excellent results in southern parts

Awaiting final assay data

All intervals subject to davis tube recovery

Will allow rigorous estimation of resource

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Southern Parts Exceed Expectations

91.5m @ 50.6% mass recovery to a 69.2% Fe concentrate in hole MGD019 from 90.5m

118m @ 43.2% mass recovery to a 67.5% Fe concentrate in hole MGD018 from 76m

188 m @ 45.7% mass recovery to a 67.6% Fe concentrate in hole MGD021 from 113m

128m @ 42.5% mass recovery to a 68.5% Fe concentrate in hole MGRD072 from 146m

These results show greater thickness than at the northern parts of the project

The mass recovery of magnetite is exceptional

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1. Coarse grained magnetite – low sulphur2. Fine grained magnetite – low sulphur

3. Coarse grained magnetite – high sulphur4. Fine grained magnetite – high sulphur

Focus is on the low sulphur types

All types characterised by testwork

Types of Mineralisation

at Magnetite Range

1

2

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What the testwork

shows

Both low sulphur coarse and fine grained variants produced high quality magnetite concentrate within the specifications for Blast Furnace pellet feed.

The coarse grained low sulphur variant, which is a dominant type

at Magnetite Range has excellent mass recovery to concentrate.

Pre-concentration by coarse cobbing was effective, rejecting significant amounts of impurities and reducing the mass required for milling.

Fine grained magnetite BIF: 80 per cent passing size (P80) = 45 micronsCoarse grained magnetite BIF: P80 = 75 micronsThis is a competitive advantage, potentially reducing the grinding energy requirements.

“Soft”

crushing work indices

Low abrasion indices

Lower than typical milling indices

Coarse cobbing dry magnetic separation

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Coarse Grained Low Sulphur LIMS Concentrate P80 = 75 microns

Mass Recovery%

Fe%

SiO2%

Al2 03%

P%

S%

Concentrate 45.9 69.2 4.20 0.12 0.004 0.003

Head Assay 100 37.0 42.00 0.64 0.066 0.036

Fine Grained Low Sulphur LIMS Concentrate P80 = 45 microns

Mass Recovery%

Fe%

SiO2%

Al2 03%

P%

S%

Concentrate 29.0 69.6 3.11 0.20 0.005 0.042

Head Assay 100 29.9 49.10 2.47 0.066 0.258

Coarse Grained High Sulphur LIMS Concentrate P80 = 75 microns

Mass Recovery%

Fe%

SiO2%

Al2 03%

P%

S%

Concentrate 37.9 69.8 2.81 0.08 0.005 0.141

Head Assay 100 32.8 45.5 0.73 0.059 0.100

Fine Grained High Sulphur LIMS Concentrate P80 = 45 microns

Mass Recovery%

Fe%

SiO2%

Al2 03%

P%

S%

Concentrate 27.9 70.2 2.10 0.15 0.006 0.575

Head Assay 100 29.7 48.10 2.61 0.058 0.620

Testwork –

Magnetite ConcentratesF

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Pre-concentration route favoured

Dry cobbing pre-concentration route

•Reduces water consumption•Improves milling efficiency•Early rejection of contaminants ahead of milling

The mass recovery of magnetite is higher than for many other local projects (>40%)

Opportunity for recovery of magnetite at coarser grind size of >45 microns

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Concentrator Process Design CriteriaBased on thorough bench-scale metallurgical testwork supervised by METS

Slurry pipeline transport alternative is under investigation

Infrastructure studies to be completed to allow full CAPEX estimate to be developed

Production CapacityPlant Throughput

5 Mtpa concentrate12.5 Mtpa

Coarse grained types

Crushing Work Index average and maxUnconfined Compressive Strength average

5.4 kWh/t ;14.4 kWh/t98.2 MPa

Primary Gyratory Crusher Product Secondary Crusher closed size settingHPGR Product

P80 = 200mm40mmP80 = 2mm

Coarse Cobbing and dry magnetic separation prior to milling

Ball Mill Work IndexBall Mill ProductRegrind Mill Product

12.9 kWh/tP80= 150 micronsP80 = 45 microns

Potential to eliminate regrind circuit at P80 = 75 microns

Mass recovery to concentrateConcentrate specification

40%69% Fe, <4% SiO2

Coarse grained types

Installed PowerPower ConsumptionGrinding media consumption (mill balls)Water consumptionConcentrator Personnel

41.7 MW314 GWh/a6,889 tpa4 Mm3/a77

Current testwork investigating HPGR to reduce energy and water consumption.Concentrate pumping and filtering tests in progress.

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Concentrator Flowsheet DevelopmentConcentrator OPEX $A17.35/tonne concentrate (METS scoping level estimate +/-30%)

Comparable to Concentrator OPEX for other proposed Australian magnetite projects

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Infrastructure EngineeringInfrastructure Review completed

Estimate of infrastructure necessary to support a 5Mtpa concentrator in progress

CAPEX and OPEX being developed for infrastructure

Materials handling testwork completed to assist with pumping and product transport

Slurry pipeline transfer of magnetite concentrate is one of the options

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Not a remote depositSealed Great Northern Highway Access

Adjoins Extension Hill Haematite & Magnetite Project – scheduled for development

45km from Karara Magnetite Project – scheduled for development

90km from existing rail network – upgrade rail or consider slurry pipeline to port

125km from gas

Great Northern Hwy

Geraldton Port

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Magnetite Range Revised Schedule

Project Evaluation with greater economy

•Improved competitiveness amongst contractors & consultants since GFC

•Accent Resources leaner & more efficient

•Large backlog of work to be cleared through testwork laboratories & consultants

= significant volume of results due concurrently

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Evaluation Program -

AchievementsMore than19,000 metres of evaluation drilling completed – Resource imminent

Several composite samples subject to metallurgical characterisation

Ability to produce saleable magnetite concentrate

Development of metallurgical process flowsheets, mass & energy balances

Scoping level estimates for a 5 Mtpa concentrator

Infrastructure review completed

Infrastructure engineering in progress, CAPEX & OPEX for this is being developed

•Full project CAPEX estimate in near future

Groundwater studies to proceed

Permitting issues currently being addressed

Contributing to the knowledge of environment in the mid-west

•Significant amount of botanical data has been gathered during the program

Rapid progression to feasibility will be possible

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Important notice and JORC compliance• This presentation has been prepared and issued by Accent Resources NL (“ACS”) with the objective of providing information to

interested parties about ACS. This presentation should not be considered as an offer or invitation to subscribe for or purchase any securities in ACS or as an inducement to make an offer or invitation in respect of those securities. It is not the intention of ACS to enter into any agreement to subscribe for securities in ACS on the basis of this presentation.

• This presentation may contain forward looking statements and projections. Whilst ACS has no reason to believe that any of these statements or projections are either false, misleading or incorrect, it cannot guarantee that either through the passage of time or through actions that are beyond the control of ACS they will not become so. Investors should be aware that should forward looking statements or projections become materially incorrect, ACS intends to comply with the ASX continuous disclosure requirements and inform the market of significant changes.

• You should not act and refrain from acting in reliance on this presentation. This presentation is an overview of ACS and does not purport to be all inclusive or to contain all information that the recipients of this presentation may require in order to make an informed assessment concerning ACS’s prospects. You should conduct your own investigations and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the matters presented in this presentation, or consult your investment adviser before making any investment decision.

* The target is based on a strike extent of the mineralised sequence of 10 kilometres, which is derived from aeromagnetic data and partially confirmed by drilling. Typical widths of between 45 to 60 metres are assumed, which is well represented by the available drilling data. At the time of this presentation 42 core holes and 83 RC holes for approximately 19,000 metres had been drilled. The target considers a tabular horizon with a geometry that dips between 50 and 70 degrees, interpreted from cross sections. The target is stated to a vertical depth of 220 metres. An assumed specific gravity of 3.0 has been applied. The Exploration Target is conceptual in nature only and should not be misconstrued as a Mineral Resource estimate. It should be noted that insufficient Exploration has been conducted to enable the estimation and reporting of a Mineral Resource in accordance with the 2004 edition of the Australasian Code for the reporting of Exploration Results Mineral Resources and Ore Reserves (JORC Code) and this target should be considered in accordance with Clause 18 of the JORC Code as conceptual in nature only and it is uncertain whether on-going Exploration will lead to the delineation of Mineral Resources or Ore Reserves

• The information in this presentation that relates to exploration results, mineral resources or ore reserves has been compiled by Mr Terence Butler-Blaxell MAust IMM who is a director of Accent Resources NL. Mr Butler-Blaxell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a competent person as defined in the 2004 edition of the Australasian Code for the reporting of exploration results, mineral resources and ore reserves. Mr Butler-Blaxell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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