THE LION’S LAIRThe Joburg Indaba

9th October 2014

Lerama Resources Pty Ltd

Who are we?

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Lerama was created in 2003 with a vision to develop a genuinely broad-based BEE company in the mineral exploration and project development space in

SOUTH AFRICA

Lerama is 71% black-owned; 23% of the shares are held by women

Board of Directors Title Experience

Laurence Robb Chairman and CEO

Has 35 years’ experience in economic geology both as an academic and a consultant in Africa and Europe. Laurence Robb was Professor of Economic Geology and Director of the Economic Geology Research Institute in the University of the Witwatersrand’s School of Geosciences. He is currently based at Oxford University as a Visiting Professor and consults widely throughout Africa

Archie Rantao COOEntrepreneur who is currently one of the directors of the Pre-Paid company – a subsidiary of Blue Label Telecoms

Ido Lekota Community AffairsIdo is former political editor of Sowetan, South Africa’s largest daily newspaper. Extensive knowledge of South African politics as well as an understanding of the current government’s drive for black economic empowerment

Lerato Madiba FinancialThe daughter of co-founder, Sam Madiba (now deceased), has recently qualified as an accountant

Michele Robertson Mineral Tenure One of South Africa’s foremost mineral tenure consultants, Michele brings over 25 years of mineral exploration experience to the company

Mike Scott Technical Prominent South African geologist, mining entrepreneur - founder of Lesego Projects, Minex Projects and The MSA Group, now one of South Africa’s largest geoservices companies.

Thabo Hlanjwa Non-executive Managing Director of HDM Construction based in the Eastern Cape

What is our focus? ……….polymetallic IOCG look-alikes

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 The Company is focused on the evaluation and development of early stage prospecting rights for polymetallic deposits in the Bushveld Complex

The focus of its exploration activities is the so-called category of IOCG (Iron Oxide-Copper-Gold) deposits, well known in many other parts of the world, but under-explored in southern Africa

Lerama sees significant benefit in targeting polymetallic ore deposits comprising several key commodities (i.e. Cu, Ag, Au, Pb, Zn, U, REE) and in its geographical focus on the Bushveld Complex, one of the great metallotects of the World

Another of Lerama’s key advantages for investors is that it holds first-mover advantage in those portions of the Bushveld Complex that offer potential for the discovery of IOCG deposits, many of which are known about historically, but have not been recognized as yet for their true potential

WE HAVE THE EXPLORATION MODEL……….

OUR AIM IS TO FIND THE NEXT –

Olympic Dam (Australia)Carajas/Salobo (Brazil)Kansanshi (Zambia)

Vergenoeg…..NEARBY

Our existing licence portfolio……ELEPHANT COUNTRY

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Lerama Resources owns a portfolio of exploration licenses in the eastern Bushveld, specifically in the Marble Hall (Limpopo) and Bronkhorstspruit (Mpumulanga) districts

The Targets are all polymetallic and have many similarities to classic IOCG deposits

Dronkfontein-Vlakfontein [Sn-W-Zn-Cu]

Boschhoek [Cu-Zn-Ag]

Albert Silver Mine [Cu-Ag-Au-Pb-U]

Project Overview: 1. Boschhoek Project [Cu-Zn-Ag]

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Interpretation of themineralized footprint on Boschhoek and Loskop Noord relative to the present target (yellow box)

Boschhoek

Loskop Noord

The Boschhoek Project is located on the farms Boschhoek 752KS and Loskop Noord 12KS (several portions), approximately 180 kilometres north-east of Johannesburg and just 12 kilometres north-east of the town of Marble Hall at the Limpopo-Mpumalanga provincial boundary

Multiple (quartz-hematite-chalcopyrite-sphalerite) veins define a mineralized footprint that is over 4000m in length and 500m wide

Copper grades range between 0,5% and 2,25% (historical drilling)

Boschhoek - update

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TWO PHASES OF DRILLING NOW COMPLETED (Q3-2014)....2000m DD and 4000M RC – RESOURCE PENDING

Project Overview: 2. Albert Silver Mine [Cu-Ag-U-Au-Pb]

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The Albert Silver Mine was discovered in 1885 and was mined continuously for approximately 8 years until around 1893

Like Boschhoek, it is a multiple vein system with a strike of 2500m

It is a high grade - frequently 100g/t to 300g/t and up to 787g/t (equivalent to 12g/t gold) - silver deposit that also contains significant Cu, U and Au mineralization

Albert Silver Mine Project

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LERAMA’S INITIAL DRILLING PROGRAMME COMPLETED IN MAY ‘14

MasterDrilling carried out 600m of diamond core drilling and 1200m of RC drilling in Q1/Q2 2014

Next phase of drilling planned for Q1 2015...to be followed by a maiden resource statement

REVERSE CIRCULATION

DIAMOND DRILLING

Albert Silver Mine Project

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SUBSTANTIAL INFORMATION OBTAINED FROM ANGLO AMERICAN ARCHIVES

Old Anglo drill data digitized and plottedIn DataMine©

Project Overview: 3. Vlakfontein Tin Mine

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The Vlakfontein Tin Project comprises of four farms centred on the 1950s Vlakfontein Tin Mine, situated in the Limpopo Province some 10 km NNW of Marble Hall and 140 km NE of Pretoria

Mineralization extends for several kilometres onto the adjacent farm Dronkfontein and is polymetallic and zoned, comprising Sn – W – Zn - Cu

stratiform, Sn-bearing breccia

Vlakfontein tin project

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Proof-of-concept drilling (2013) has established significant Sn grades over much thicker widths than expected!

0 5000 10000 15000 20000 25000 30000 35000

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10131619222528313437404346495255586164677073

Sn (ppm) down-the-hole

0.3% Sn over 12.7m

..... 1.6% Sn over 1.75m

.....0.19% Sn over 2.6m

.....0.05% Sn over 5m

...initial diamond drilling has revealeda tin zone that is 13m thick at an average grade of 0.3%

Vlakfontein Tin Mine JV with Bushveld Minerals (2013)

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CEO of Bushveld Minerals, Fortune Mojapelo said: "We are excited about the recent addition to the Bushveld Tin portfolio at a time of strong buoyancy within the tin market. The Marble Hall Tin Project will significantly boost the overall tin inventory of the company, adding a high quality asset with significant historical exploration conducted on it already. This is in line with our aim to consolidate more than 50,000 tons of near-surface tin assets that have potential to be brought into production in the short-term."

RECENTLY AWARDED LICENCE - SLIPFONTEIN

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PROJECT PIPELINE

SLIPFONTEIN (IOCG).........copper, fluorite, gold, iron

Previously a Rio Tinto prospecting right which had work carried out on it during the late 1990’s

To be further explored in 2015

AWARDED MAY 2014

GEOLOGICAL MAPPING AFTER J P HUNT (2005) – MSc thesis, University of the Witwatersrand

Lerama’s structure and existing funding streams

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Lerama is a holding company whose assets are comprised primarily of three exploration projects that are each housed in special purpose vehicles (SPVs)

Each of these SPVs has a joint venture partner who has provided the funding to support the development of these projects to date

Meruka Mining has expended R10m in the evaluation of the Boschhoek Project through its partnership with AASMF

Roodepoortjie Resources has expended R10m in the evaluation of the Albert Ag Mine Project through its partnership with AASMF

The Vlakfontein Project is being evaluated in partnership with VM Investments and a total of R3m has been expended to date

Newly awarded Slipfontein license block will be placed into a 4th SPV named SLIPFONTEIN RESOURCES Ltd. Funding for this project has still to be raised

Lerama (Holding Co.)

MERUKA Mining[BOSCHHOEK]

30% AASMF70% Lerama

Roodepoortjie Resources

[ALBERT Ag MINE] 50% AASMF 50% Lerama

Vlakfontein Resources

[VLAKFONTEIN]50% VMI/Bushveld

50% Lerama

Corporate Group Structure

Meruka Mining has a social partnership with the Matlala Community, east of Marble Hall – a pre-school creche is currently being built with funds provided by Meruka

We are offering......

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MERUKA MINING(70%)

VLAKFONTEIN RESOURCES

(50%)

ROODEPOORTJIE RESOURCES

(50%)

SLIPFONTEIN RESOURCES

(100%)

BOSCHHOEK.....A POTENTIAL OPEN CAST Cu OPERATION THAT REQUIRES PRE-FEASIBILITY ASSESSMENT (R7m)

EQUITY IN LERAMA

BASED ON A VALUATION (VUNANI CAP) OF R50.5million....WE ARE OFFERING EQUITY STAKE FOR R20- 30 million

THIS WOULD EXPOSE INVESTORS TO........

ALBERT SILVER MINE.....A POTENTIAL HIGH-GRADE Ag-Cu-U UNDERGROUND OPERATION THAT REQUIRES PRE-FEASIBILITY ASSESSMENT (R8m)

VLAKFONTEIN....A UNDERGROUND Sn OPERATION THAT HAS THE POTENTIAL TO BE SA’s LARGEST TIN MINE – RESOURCE DRILLING REQUIRED (R2m)

SLIPFONTEIN.....AN IOCG-TYPE EXPLORATION PROJECT THAT REQUIRES PRELIMINARY RESOURCE DRILLING AND ASSESSMENT (R3m)