‘Developing Papua New Guinea’s first diversified world-class resources platform’

UK – PNG Trade and Investment Conference London 16 June 2015

Mayur Resources Presentation

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CONTENTS

1. Mayur Resources Overview - Developing a diversified world-class resources platform in PNG 3

2. Copper / Gold portfolio 7

3. Iron & Heavy Mineral Sands portfolio 12

4. Coal portfolio 17

5. Domestic Vertical Integration – Power and DRI/Steel Making 20

Developing a diversified world-class resources platform in PNG

A unique portfolio of projects under development…..

• Established in 2011

• Management Team with proven track record

• Highly experienced International Board

• 3 asset groups (Copper/Gold; Heavy Mineral Sands; Coal)

+ Vertical Integration (Iron/Steel & Power)

• 100% privately owned by small share holder base of Ultra High Net Worth

• Fully focused on PNG 3

Introduction to Mayur Resources

Mayur’s Mineral Development Platform

A Unique Diversified

Mineral Development

Platform in PNG

1st Mover -Export of Iron & Heavy Mineral Sands

‘Asia's New Low Cost Iron & Mineral Sands Precinct’

1 Mtpa ironsands (magnetite and zircon) project scalability

of 10 more projects in pipeline

Copper & Gold

‘Projects next to World Class Operations’’

1st Mover - Export of Low Ash Thermal Coal

‘The Next Indonesian Export Model’

1Mtpa Thermal coal (Asia’s superior coal 3% Ash & <0.5%

Sulphur

4

Introduction to Mayur Resources

1ST Direct Reduced Iron (DRI) & Steel Making in

PNG

1st Coal Fired Power in PNG lowest New Power Source

5

COPPER & GOLD IN PAPUA NEW GUINEA Leveraging PNG’s status as one of the world’s most prolific copper & gold provinces Port Moresby

Introduction - Copper & Gold Assets

• 4 EL’s granted

• Total area under exploration 1,193 km²

• Geological rationale based on finding and developing epithermal (volcanic arcs setting) and porphyry systems

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Porphyry Systems - Projects

Name EL # Status Km2

1 Sideia* 2095 Granted 300

2 Basilaki * 2095 Granted

3 Sitipu 2040 Granted 249

Volcanic Arcs & Calderas – Projects

Name EL # Status Km2

1 Feni Island* 2096 Granted 385

2 Rambutyo 2094 Granted 259

*priority projects

Copper & Gold in PNG

Lihir – World’s 4th Largest Gold Mine

Feni – “potential to be the next Lihir”

Sideia & Basilaki – “ the forgotten mine workings of PNG”

Feni – The Next Lihir Style Reosurce

• Location - Adjacent to 4th Largest Gold Mine in the World

• Maiden Gold Resource – 650,000 Oz Au JORC (Inferred) Resource

• Best intercept 188.5m @ 1.00 g/t Au with associated copper porphyry results – best intercepts 0.4% copper over 80 metres

• Shallow drilling – up to 200 metres (future target depth 600 metres)

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Copper & Gold in PNG

Over 200 drill holes (deepest hole < 300m)

Ambitle Is. Babase Is.

• Over USD 30m spent exploring Ambitle by numerous exploration companies over to find Kabang Target

EL2096

Port Moresby

EL2095 - Basilaki and Sideia Islands

Copper zone – Sideia Island. Gold in bedrock – Tunawada Prospect.

Two projects - Basilaki Island & Sideia Island (one tenement)

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Basilaki Tunawada Cu-Au Project

• Multi-phase porphyry system

Sideia Is – Sideia Cu -Au Project

• PNG’s oldest copper workings dormant and forgotten for over 100 years

• Mayur rock chips up to 27.5% Cu, 3.92 g/t Au, 397ppm Mo

• Narrow vein copper mined 1800’s,

• Potential porphyry at depth.

Copper & Gold in PNG

EL2095 Port Moresby

Sideia Is.

Basilaki Is.

2 1

1

2

Two separate deposits on adjacent islands in Milne Bay Province

Rock Dating & Petrology

The Tunawada rocks 12.9Ma (million years old). same date range as world-class deposits in PNG Wafi-Golpu 13-14Ma, Frieda 11-14Ma.

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HEAVY MINERAL SANDS IN PNG Asia’s new 'world-class’ low cost iron and mineral sands precinct

Port Moresby

Introduction – Portfolio Highlights

• Multi Billion tonne mineralised province - potential to become the world’s largest iron and mineral sands precinct – 23,000 km²

• Flagship Orokolo Bay Project (EL2305)

Maiden JORC Resource (2012 JORC) of 64Mt @ 30%HM with a 150 Mt exploration target - being converted to JORC (drilling in progress)

Pre Feasibility Study completed in January 2015 (entered DFS)

• Targeting production of multiple heavy mineral products : magnetite, zircon, garnet, leucoxene,

• More than 10 projects in the pipeline across wider portfolio offering long term future growth

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450 km

Iron & mineral sands in PNG

PAPUA NEW GUINEA

Thousands of Km’s of highly mineralised coastline under tenure

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Huge project pipeline across the Gulf of Papua portfolio for generations to come

Iron & mineral sands in PNG

Summary of all historical exploration completed across the Gulf of Papua:

• 1000 Auger holes

• 491 Wacker holes

• 93 Vibracore holes

• 4 bulk samples

• 3,000+ grab samples

Target generation (from review of drilling and geomorph studies) has identified a pipeline of potential projects across the province that will provide long term development opportunity

Mayur Iron portfolio and project generation targets

Hisui

On shore Nearshore Offshore

Kiwai (near shore

Kiwai Is. (onshore)

Kiwai (off shore)

Aburai / Amunda Is.

Orimo Coast

Deception Bay

Cape Blackwood

Turama Delta

Paia Inlet

Malalaua

The Bluff

Aivau

Kerema Uamai

Parma Is.

OROKOLO BAY PROJECT – Timeline & Cost Curve

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Iron & mineral sands in PNG

Pro

ject

De

velo

pm

en

t V

alu

e

OBP PRE PRODUCTION

PHASE: 100,000 t

OBP PHASE 1 (1 Mtpa)

2015 2016 2017 2018+

+ future upside across

wider portfolio

PHASE 2 (3 Mtpa)

• Pre Production Phase – Pilot Plant for market acceptance testing

• Phase 1 – Initial Production – Low prod. costs 1 Mtpa of Iron (Magnetite conc.) + 33-64 ktpa (40% zircon concentrate) @ $50m capex

• Phase 2 – Expand Production to 3 Mtpa (Magnetite) + 100-200 ktpa (40% zircon concentrate)

A

B

C

Lowest cost iron units in the

world

A B C

DMTU adjustment (-4%) TiO2 adjustment (-15%)

+ Zircon only (does not include benefit

of other Valuable HM)

Phased Timeline:

Lowest Global quartile cost position:

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COAL IN PAPUA NEW GUINEA Opening up a new frontier for coal in Asia – ‘the next Kalimantan’

Port Moresby

Coal in PNG

‘PNG - A new frontier for Coal in Asia’

Coal exploration projects in PNG - consisting of:

• 4 granted tenements

• Secured exclusive Call Option to explore and acquire adjacent tenements

Together the licences make up the entirety of PNGs coal province closest to the coast

Access to low-cost transport infrastructure – barge coals on the Purari or Vailala Rivers that flow into the Gulf of Papua

Exploration programs completed – 4.1m and 3.2m coal seams outcropping at surface

• Develop international export of 1 Mtpa and domestic coal fired power with the PNG government

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Overview of to Mayur’s coal projects

Coal exploration portfolio encompassing the entirety of PNG’s coal province within the Papuan Basin – 120km strike

Mayur’s coal - Gulf province

Above – 4.5m out-cropping coal seam and deep draft rivers in Gulf Province

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Tenure covering 120 km strike - only 1% explored so far

Coal in PNG

PNG’s coal region in Gulf Province- proximity to rivers and coast for access to the seaborne market. Below - camp / drilling at Depot Creek

Gulf of Papua

25 km

• Depot Creek only covers 1.2km of the known 120km strike

• Mayur has 200+ million tonne provincial exploration target

• Coal quality (below) – low ash, low sulphur sub bituminous coal

Upcoming project development milestones:

- Declaring JORC

- Completing PFS

- Market testing (bulk sampling)

- International Offtake

- Commence DFS

Depot Creek – average analysis*

TM 21.24 %

IM 12.5 %

Ash 2.52 %

VM 43.7 %

TS 0.36 %

GAR kcal/kg 5,128 *All results are on an air dried basis; samples from out-cropping coal seams

total Strike length =

120 km

Miha Creek (Coal)

Depot Creek (Coal)

Port Moresby

N

Orokolo Bay (Mineral Sands)

Vialala River

Purari River

DOMESTIC VERTICAL INTEGRATION

COAL POWER GENERATION

Port Moresby

DRI & STEEL MAKING

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Developing new coal fired power in PNG to deliver economic growth

Coal Power Generation in PNG

• Reduce PNGs current reliance on high cost diesel power & open up Manufacturing sector

• Develop clean and efficient coal fired power stations (30-100MW) to serve PNGs major cities and industrial hubs (Port Moresby, Lae, Madang etc) – 13% of PNG population have electricity (70% targeted)

Providing access to cheaper energy to enable economic growth in PNG

Port Moresby (100MW)

Lae (100MW)

Madang (100MW)

Potential locations for coal fired power plants

Mayur’s coal province

Proposed Economic corridors in PNG (blue shading) Source – PNG Development Strategic Plan 2010- 2030

Provision of cheap and reliable power for PNGs growing population and economy

Address PNGs energy demand shortfall – forecast to be circa 700MW by 2030 due to 5 fold

increase in power demand.

Mayur Coal spec. range

Kcal* 4,000 – 4,500

Ash 2.5% - 3.7%

Sulphur <0.4%

100 MW power plant requires

approx. 400,000 tonnes coal per

year

PNG POWER GENERATION

PNG COAL SUPPLY

*Net as received basis

Mines - Owen Stanley Range(100MW)

40-50% OF PNG’s POWER GENERATION^

Coal based DRI Steel Making Opportunity in Gulf Province, PNG

Potential for iron & steel making in PNG

Coal and iron within the same region in PNG – a unique opportunity to develop a steel industry in SE Asia

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Gulf of Papua

100 km

(Iron ore)

(Coal)

• Iron and Coal co-located on coast next to Asian market

• Low cost extraction suitable as stand alone export commodities

• Proposed LNG gas pipeline adjacent to tenure

Potential site for DRI plant

Gas fields (Total Inter-Oil)

Port / Anchorage

Strategic ‘first mover’ vertical

integration (coal and iron)

opportunity

Unlocking low raw material input costs –

<US$60 per tonne of iron produced

Cheap power source - captive

coal (owned) and proximity to

major gas projects

Various technology

options (proven and new DRI and steel processes)

Government support to value add via vertical

integration

Preliminary studies complete with technology providers (China /India/Europe)

DRI & Steel Making – Value add in PNG via vertical integration

Potential for iron & steel making in PNG

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Low captive commodity cost, raw materials co-located on coast, close to market, low energy cost, low labour cost

ADDITIONAL “VALUE CAPTURE”

(Low cost labour and energy costs)

1 tonne of pig iron = USD100/t

VA

LUE DRI

EAF

Formed Steel

MAYUR CONTROLLED MAYUR FIRST MOVER

Bulk Commodity (export grade) &

Domestic Iron/Steel Production

Iron

Coal Quartile 1 – Global Cost Curve

PNGs next iron making centre in

Asia

=

Coal Ironsands Pig Iron

Steel (export or domestic)

DRI Plant - RHF

MR Iron PNG Pte Ltd

MR Energy PNG Pte Ltd

Mayur Iron PNG Ltd

Singapore

PNG Mayur Energy PNG Ltd

MR PNG DRI & Steel Making Pte Ltd

Mayur PNG DRI & Steel Making Ltd

Mayur Resources Group Structure - Domestic Vertical Integration

Raw materials supplied for DRI/Steel and Power as follows:

Domestic Vertical Integration - Summary

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EXPORT

PNG POWER GEN.

PNG IRON ORE SUPPLY

IRON ORE (2t x $18.5/t)

$37/t

COAL (Reductant) + COAL (Power) & MAINTENANCE

$60/t

PNG DRI & STEEL MAKING PNG COAL SUPPLY Input costs <$100/t

www.mayurresources.com

10Q TRU

For further information please see our Team at the Mayur Exhibition Stand