Near Term Metallurgical Coal Producer

April 2010

New Elk Coal MineNew Elk Coal Mine

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The information provided in this presentation is intended exclusively for those viewing it. Reproduction orconveyance of any of the following information to others by any means is not to be undertaken without the writtenpermission of Cline Mining Corporation. By viewing, the viewer agrees to these conditions. The material presentedcontains forward looking statements. These forward–looking statements include estimates, forecasts, and statementsas to management’s expectation with respect to, among other things, the size and quality of the company’s mineralresources, future trends for the company, commodities, and the financial results of the company. These forwardlooking statements involve numerous assumptions, risks and uncertainties and actual results may vary. Factors thatmay cause actual results to vary include, but are not limited to, changes in commodity and power prices, changes ininterest and currency exchange rates, inaccurate geological and metallurgical assumptions (including with respect tosize, grade, and recoverability of mineral reserves and resources), unanticipated operational difficulties, (includingfailure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalation,unavailability of materials and equipment, delays in the receipt of government approvals, environmental matters),political risk and social unrest, and changes in general economic conditions or conditions in the financial markets. Thecompany does not assume the obligation to revise or update these forward – looking statements after the date of thispresentation, or to revise them to reflect the occurrence of future unanticipated events, except as may required underapplicable security laws.

This presentation is being made available on a confidential basis only to persons in the United States reasonablybelieved to be "accredited investors" as defined in Rule 501(a) under the United States Securities Act of 1933, asamended ("Accredited Investors") and specifically authorized to view this presentation. This information does notconstitute an offer to any other person or, a general offer to the public of, or the general solicitation from the public of,offers to subscribe or purchase any of securities of Cline. Any unauthorized use of the presentation is strictlyprohibited. Distribution of this information to any person other than the offeree or its advisors that received it directlyfrom the Company is unauthorized, and any disclosure of any of such information without the prior written consent ofthe Company is prohibited. Except as specifically provided herein, this presentation may not be copied or otherwisedistributed, in whole or in part, by or to any person or in any medium whatsoever.

Forward Looking Statement

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Ticker Toronto Stock Exchange: CMK

Shares Outstanding 130 million

OptionsWarrants

6.0 mil. (average C$0.71 strike)6.5 mil. ($0.40 exercise)

Market Cap C$250 million approx.

Cash and facilities C$45 million

Debt C$25 million (Mitsui)

Major ShareholdersMitsui Matsushima (13%)Pinetree Capital (10%)Management (4%)

Corporate Office Toronto, Ontario

Colorado Office Trinidad, Los Animas County

Company Snapshot

4TSX:CMK

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Lodgepole

Sage Creek

Lossan

Cline Lake Gold

New Elk Coal Mine (Main Asset)

• Other projects are secondary and monetization events are being pursued

Overview of Projects

Madagascar

Morondava Uranium

Bekisopa Iron-Ore

• Main project is the New Elk Coal Mine in Colorado

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• New Elk Coal Mine being brought into production by Q4/2010

• Experienced management team and board

• Significant resource size – over 315 million tons of coal, 43-101 compliant, at New Elk

• Existing on-site infrastructure and underground workings

• Low external financing requirement - US$65 million to produce 3.0 mil. tons/year

• Initial production up to 1.3 mil. tons/year achievable with US$25 in external financing

• Partnership with Mitsui who has marketing rights

• Low risk jurisdiction

• Attractive stock valuation

Company & New Elk Highlights

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Ken Bates, President, CEO & Director• Experienced coal mining executive with Sherritt Gordon Mines and Denison Mines

Dennis Mraz, COO• Former Vice President & General Manager with Denison Mines

Ernest Cleave, CFO• Senior financial professional with Goldcorp, Falconbridge, Xstrata, Bata South Africa

Honorable Bill McKnight P.C., Chairman • Previous Canadian Minister of Defence (first Gulf), Minister of Mines, Minister of Indian Affairs,

Minister of Agriculture

Shinji Koyanagi, Director• General Manager, Business Development of Mitsui Matsushima

Dale Hendrick, Director • Prominent Canadian mining executive and consultant with wide experience in large scale mining

internationally. Previously with Noranda Mines, Kerr Addison

Senator David Tkachuk, Director• Member of the Senate of Canada and western Canadian businessman

John McCulloch, Director• Experienced coal mine developer and manager. Senior manager British Coal

Experienced Management & Board

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New Elk Coal Mine, Colorado

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History of New Elk Coal Mine

• 1953-1989: Produced quality coking coal for CF&I Steel Company, Pueblo, Co. blast furnace and Wyoming Fuels

• 1990: Blast furnace switched to electric power and coal mining operations ceased

• 1996: Coal plant placed on care and maintenance

• 2007: Cline began negotiations to secure New Elk Coal Mine

• Q2/08: C$19 million convertible debenture with Mitsui to pay cash for New Elk Coal Mine

• Q3/08: Cline acquired all assets and updated 43-101 resource was published

• Q4/08: Dewatering, rehabilitation and mine development began

• Q2/09: New Elk is designated an “active” coal mine in full compliance with Mine Safety and Health Administration (MSHA)

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• Located in southern Colorado and accessible by paved highway from nearby town of Trinidad

• Excellent on-site infrastructure

• Mine permits in-place

• Existing underground workings in compliance with the Colorado MHSA (Mine Safety and Health Administration)

• Proximity to major seaports and steel mills

– 2011: 1.3 mil. tonnes/year shipped by truck & rail

– 2012: 2.6 mil. tonnes/year shipped by rail

– 2013 +: 3.0 mil.+ tonnes/year shipped by rail

• Steel railway line can be re-installed on the right of way from mine to the BNR line to provide access to continental customers and export coal terminals on Pacific & Atlantic coasts (see map on page 10)

Overview of New Elk Coal Mine

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NEW ELK PROPERTY

LOS ANGELES 801 Mi.

VANCOUVER 1225 Mi.

NEW ORLEANS 957 Mi.

Altos Hornos

Steel Mill

MEXICO

692 Ml

HOUSTON

785 Ml

Close Proximity to Major Ports & Steel Mills

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Site Layout of New Elk Coal Mine

Tails

Road to Trinidad

West PortalEast Portal

Wash Plant

Product Silos

Rail Spur ROWTails Conveyor

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Twin 12,500 ton product silos

Preparation Plant

Processing Plant Coal Stacker

Electric SubstationWaste Conveyor

• Mine site infrastructure includes:

– 550 tph coal wash plant

– Twin 12,500 ton product silos

– Rail load-out facility

– Buildings

– Mining equipment

– Conveyor systems

– Coal stacker

– Electric substation

– Mine portal access from plant

– Coal waste dump

Excellent On-Site Infrastructure

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(million tonnes) Measured IndicatedMeasured &

IndicatedInferred

Measured, Indicated &

Inferred

New Elk Coal Mine 19.2 38.7 57.9 6.7 64.6

Colorado DOW Lease 52.7 159.2 211.9 27.2 239.1

NEC Properties 5.8 15.3 21.1 0.8 21.9

XTO Lease 9.9 14.2 24.1 0.3 24.4

Total 87.6 227.4 315.0 35.0 350.0

New Elk Coal Mine Resources

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Assessment Period 20 years / 58 mil. tonnes

Coal ProductionInitial 2010 & 2011: 1,300,000 tonnes Full (by 2013) : 3,000,000 tonnes

External Financing US$65 million

All Figures in US$ / average over 20 years / in metric tonnes

Financial Model/Planning Example for Coal at $200

Gross Coal Price $168 $200

Transportation & Handling $46 $50

Net Coal Price $122 $150

Operating Costs $51 $56

Margin $71 $94

IRR (%) 98.65% 152.16%

NPV (10%) US$1.04 billion US$1.51 billion

New Elk Coal Mine Economics

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• Low risk production by Q4/2010

• US$65 million is low external financing

• Compelling stock valuation

• Experienced management team and board

• Significant resource size

• Low risk jurisdiction

• Additional value from non-core properties

Summary

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Contact Details

Ticker TSX:CMK

Address

BCE Place 161 Bay Street27th Floor Toronto Ontario M5J 2S1

Website www.clinemining.com

Email info@clinemining.com

Telephone 416-572-2002

Fax 416-572-2201