Marathon Resources’ Projects & Exploration Approach& Exploration Approach

Wieslaw Bogacz is a highly John Santich is an Peter Williams is a qualified geologist and engineer with more than 30 year’s experience in successful orebody exploration and

engineer with over three decades experience in mining and geoscience. He has been founder and director of a number of

chartered accountant with extensive professional and commercial experience. He has broad experience as managing director and

development in Australia and worldwide

successful exploration and mining companies

chairman of public companies.

Exploration in South Australia and western

Extensive ground holdings in –

Victoria

• Gawler Craton

• Adelaide Geosyncline

• Moyston Fault Zone

High ownership 75-100% in the regions of known mines/deposits

Largely under-explored

Hi h t ti l f diHigh potential for discovery

Focus on large deposits in Gawler CratonGa e C ato

The Gawler Craton,

South AustraliaC d b /M l W ll El 2819

Potential very large discoveries for

Coondambo/Mulga Well Els 2819, 3211

Mabel/Woorong Creek Els 2682, 2730

Potential very large discoveries for copper,gold and IOCG

Under-explored and highly prospective

100% owned property

JVs with listed entities• Minotaur, up to 75%• Platsearch, up to 80%

Region of major mines/depositsRegion of major mines/deposits• Olympic Dam, WMC (world class Cu-Au-U deposit)

• Prominent Hill, Minotaur(97 Mt @ 1.5% Cu, 1.6 M oz Au)

• Challenger Dominion (>500 000 oz Au)Challenger, Dominion (>500,000 oz Au)

Region of advanced projects, eg• Tunkillia, Helix (730,000 oz Au, 1.5 M oz Ag)

• Barn’s, Adelaide Resources (no reserve available)

Adelaide Geosyncline,

Flinders RangesM l t EL 3164

Tenements 100% owned or being

Mongolata, EL 3164

Pinda Springs, EL 3159

Mt Gee, EL 2634

Tenements 100% owned or being earned

Highly mineralised province

Potential for gold, copper, zinc/leadHost to rich historical mines• Mongolata, gold (within EL 3164)

• Burra, copper (adjacent EL 3164)

• Beltana, zinc/lead (near to EL 3159)Beltana, zinc/lead (near to EL 3159)

• Blinman, copper (near to EL 3159)

•Proven uranium resource• Mt Gee/Mt Painter (within EL 2634)

(3.9 Mt U3O8 @ 1.3 kg/t, and several(3.9 Mt U3O8 @ 1.3 kg/t, and severalmillion tonnes low grade at Mt Painter)

Western Victorian tenementsKalymna, EL 4526

Glenlyle, EL 4621

Tenements 90/100% available

Focus on major deep rooted fault system (Moyston Fault Zone)

Highly prospective for gold copperHighly prospective for gold, copper

Host to nearby gold mines (north of tenements)

• Stawell, major gold

• Moyston, gold (100,000 oz camp)

• Mt Ararat, copper (incl 1 Mt @ 2.7% Cu)

Recent advanced exploration by N t ( th f t t )Newcrest (south of tenements)

• Victor 1 porphry copper(includes intersection of 229 m @ 0.22% Cu)

A proven predictive exploration method …

Successfully applied in reestablishment of existing ore bodies, for example, Telfer (copper-gold, 2000/04), and to discovery of grass roots deposits, for example, Arenal (gold,Uruguay, 2003/04).

GEOLOGY DEPOSITDEVELOPMENT MINING

EXPLORATION MINEDEVELOPMENT

MINEEXPANSION

COVERAGE OF TECTOGENESIS

Highly prospective copper

Coondambo and Mulga Well tenements

Highly prospective copper-gold, IOCG and other metals (eg nickel)

Appropriate regional tectonic setting on GZ gravitysetting on GZ gravity lineament

Eastern end of highly prospective Harris GreenstonesGreenstones

Olympic Dam/Prominent Hill style magnetic, gravity and tectonic setting

U d l d iUnder-explored prospective basement at shallow level

Significant Scorpion Bore gravity anomaly coincident

ith ti liwith magnetic anomalies

Tightly defined Scorpion North AMT target at shallow depth (<50m)

Northern Gawler Craton

Mabel Creek and Woorong Creek

Highly prospective copper-gold, IOCG and other metals

Vicinity of major crustal fracture (CSZ)

Favourable geophysical and tectonic setting of Mabel Creek Ridge

Several existing Minotaur/Several existing Minotaur/ Perilya defined drill ready targets

Target upgrades through detailed geophysics and g p ytectogenetic analysis

Follow up drilling of target

Adelaide GeosynclineNorthern Flinders Rangesg

Mt Gee tenement

Favourable placement within Paralana Fault Zone

Drill ready target for epithermal goldep t e a go d

Potential for drilling early after listing

Proven uranium province:

• Several million tonnesU3O8 at Mt Painter

• Established 3.9Mt@1.3kg/tU3O8 at Mt Gee

Adelaide GeosynclineNorthern Flinders Ranges

Pinda Springs tenement

Favourable placement, geophysical and tetonic setting polymetalic

i li ti

Pinda Springs tenement

mineralisation

Adjacent to historical mines (Blinman, copper, and Beltana, zinc).

Recent Perilya drilling, Beltana(including eg 19m@41.2% Zn and estimated resource 941,000 tonnes @ 31% Zn)

Major surface structuralMajor surface structural features conductive for mineralisation

Excellent outcrop lead/zinc/ silver and copper/gold grades

Surface sampling results showed high grades including 79.3% Pb (site 1), 1.200 g/t Ag (site 2),10.5% Cu, 0.5 g/t Au (site 3). 7.72% Cu (site 5) pp /g g

in sampling program

Little previous exploration

Never been drilled

Adelaide GeosynclineCentral Flinders Ranges

l

Favourable placement and

Mongolata tenement

local geophysical setting in Nackara Arc

Well developed underlying features confirmed by

imagnetic survey

Includes existing Mongolata Goldfield (avg 44 g/t Au on record)

On structural trend from nearby Burra Copper Mine

Adjacent gold-copper anomalies at King Well and Chalk Cliff

Strong White Dam Granite signature with indications of copper

Kalymna and Glenlyle tenements, western Victoria

Focus on Moyston Fault Zone forming western edge of Victorian goldfields

Major fault separating two regional geological domains

Favourable internal complexity of Moyston Fault Zone

Prospective for gold, copper in neighbouring area of proven mineralisation

Kalymna located in the vicinityKalymna located in the vicinity of Moyston Goldfield (100,000 oz)

North of Victor 1 copper prospect of Newcrest (includes intersection of 229 m @ 0.22% Cu)

Glenlyle similar in style to Victor 1, and with strong geophysical drill targets (IP anomalies)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Glendambo (Olympic Damstyle

Drilling Activities

Dam style mineralisation)Coober Pedy (Olympic Dam style mineralisation)Mongolata (Copper and gold mineralisation)

mineralisation)Pinda Springs (Copper, gold, base metal mineralisation)Mr Gee (Gold and uranium mineralisation)W Vi i

Western Victoria (Gold and copper-gold mineralisation)

Glendambo includes Coondambo and Mulga Well

Drilling & Analysis Contingency

Drilling of all tenements in year 1

Gawler Craton targets high priorityDrilling Activity -First year of two

Coober Pedy includes Woorong Creek and Mabel CreekWestern Victoria includes Kalymna and Glenlyle

Gawler Craton targets high priority

Staged drilling program

Steady flow of results

yyear program