Amended RIU Conference Presentation Peel Mining Limited (ASX: PEX) - PDF document

ASX Announcement 17 March 2014 Amended RIU Conference Presentation Peel Mining Limited (ASX: PEX) advises that its RIU Conference Presentation released to ASX on 21 February 2014 contained a slide entitled Project Summary (page 5). The slide did not specify the category of resource type for the Apollo Hill and Attunga projects. The attached presentation has been amended to reflect the type of resource at each of these projects. Rob Tyson Managing Director For further information, please contact Rob Tyson on +61 420 234 020. Peel Mining Limited ACN 119 343 734 Unit 1, 34 Kings Park Rd, West Perth, WA 6005. Ph: (08) 9382 3955. Fax (08) 9388 1025. E:rtyson@peelmining.com.au www.peelmining.com.au

High-grade Copper in the Cobar Superbasin Rob Tyson Managing Director RIU Explorers Conference Presentation Peel Mining Limited (ASX:PEX) www.peelmining.com.au February 2014

Disclaimer & Competent Persons Statement • Disclaimer – The views expressed here other than historical fact constitute forward-looking statements. Forward- looking statements are based upon estimates and assumptions considered reasonable by the Company, albeit subject to uncertainties and contingencies of unknown factors that may cause variation in such forward-looking statements beyond the Company’s ability to control or predict. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction. • Competent Persons Statement – Information in this presentation that relates to the Mallee Bull Project has been reported by the Company in compliance with JORC 2012 in a market release dated 20 December2013. The Company confirms that it is not aware of any new information or data that materially affects the information included in the market announcement dated 20 December 2013. – Information reported in this presentation (other than in respect of the Mallee Bull Project) relating to Exploration Results was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. – The information in this report that relates to Exploration Results is based on information compiled by Mr Robert Tyson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tyson is Managing Director of Peel Mining Ltd. Mr Tyson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. ’ Mr Tyson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears . 2

Capital and Corporate • Capital structure Fully paid shares: 132 million Cash: ~$4.7 million (at 31 January 2013) Options: 3 million Top 20 investors: ~60% Market cap (@ 26 cps): $34 million Directors’ holding: ~19% • Business model – To explore, find and develop high grade mineral deposits. 3 Year Chart 3

Technical and Practical Team = Money into the Ground • Maximising PEX’s discovery potential: – Low admin/corp $7,000 landcruiser costs at ~$200K per quarter – Small, efficient, technical and practical team – High exploration success rate – Focus on drill Greg Chris Dean testing Mick Simon Nathan Angus – Maximising every Rob dollar – money goes into the Absent Graeme Hardie Bob Brown ground Ryan Woodhouse Jason Bryan Steve Leggett Audrey Lee Dave Vaarwerk Darren Presnell 4

Project Summary • Key assets: Growing base-precious metal – Mallee Bull Copper-Polymetallic resources company Discovery – Cobar Superbasin Project (CSP) – Apollo Hill Gold Project – Rise & Shine Gold Project – Attunga Tungsten Project – Ruby Silver Project Historic production 400,000 oz Ag Inferred Resource of 17.2 Mt @ 0.9 g/t Au for 505,000 oz CSP Inferred Resource of 1.29 Mt @ 0.61% WO3 Historic production 180,000 oz Au 5

Cobar Superbasin is high-grade worldclass mineral province • Cobar Superbasin pre-mining metal Tinderra granite inventory: • N ELURA – >2.2 Mt Cu = US$18b Coo G nar i l m – >7 Moz Au = US$12b ra o Buckaroon Fault r e Li Fau CSA – >4.7 Mt Zn = US$9.5b lt n GREAT COBAR e a ment MT BOPPY – >2.8 Mt Pb = US$5.5b NEW OCCIDENTAL PEAK Rookery Fault McKINNONS – >145 Moz Ag = US$4.5b PERSERVERANCE PIPELINE NYMAGEE – Total = US$50b Windnok WONAWINTA HERA Shelf SANDY CREEK Nymagee-Wagga Structure Ag MALLEE BULL Au Ag Pb MAY DAY Thule granite Au Canbelego WAGGA TANK - Mineral Hill Rift Walters Ranges Shelf MUNDOE MT HOPE MINE Zone h g u o r T Zn e Rast Trough Erimeran granite p o Zn H t M Cu Cu Cobar Basin Architecture Courtesy Vlad David 6

“Cobar–style” Deposits vs Mallee Bull Discovery Cobar-style attribute Mallee Bull Polymetallic (Cu-Ag-Au-Pb-Zn)  Proximity to major structures  (growth/transfer faults) Shear-hosted   Strongly leached near surface Chlorite and silica alteration  Facies and rock competency contrasts  Moderate to high strain zone  Short strike length (<200m)  Narrow widths (5-20m)  Vertical continuity (>400m)   Clustered/stacked lenses 7

Mallee Bull Project 8

Mallee Bull Identification - Coincident Geophysical Anomalies Butchers Dog Mallee Bull Mallee Bull Total Magnetic Intensity VTEM – Late Time 9

Mallee Bull Discovery Timeline vs PEX Share Price Aug 2011 May 2012 Dec 2010 Jan 2012 Aug 2012 4MRCDD006 - 10m @ CBH $8.33m 60 line 4MRC016 - 11m @ MBDD002 – 20% Pb/Zn, 41 g/t farm-in values km VTEM 2.7% Cu, 36 g/t Ag; 31m @ 1.7% Ag; 6.7m @ 3.1% Cu, Mallee Bull at survey 4MRC019 – 10m @ Cu, 33 g/t Ag, 34 g/t Ag, 9.3m @ 2 x PEX Mcap 2.66% Cu, 41 g/t Ag 1.8 g/t Au; 1.2% Cu, 19 g/t Ag 41m @ 2.65% Feb 2011 Feb 2012 Aug 2011 Cu, 51 g/t Ag Initial 4MRC024 - 10m @ 4MRC007 - 4m @ Nov 2011 drilling at 2.22% Cu, 33 g/t 1.42% Cu, 18 g/t Ag; Start of Mallee Bull Ag 10m @ 1.7% Cu, 55 Phase 1 g/t Ag; 4m @ 1.49% Drilling Cu, 55 g/t Ag Mar 2012 Jan 2011 Mallee Bull Mallee Bull confirmed as Apr 2011 EM anomaly Cobar-style Follow-up recognised discovery drilling at Jul 2012 Mallee Bull Phase 2 Drilling commences 10

2013 confirms Mallee Bull as High-Grade Copper Discovery CBH farm-in Stages 1 & 2 confirms Mallee Bull as major copper discovery – July 2013 CBH Farm-in commences whereby CBH can earn 50% by spending $8.33m – CBH Farm-in Stages 1 & 2 (to earn 30%) test >400m below surface (Jul 2012 to Jul 2013) – Some of the most significant copper results reported anywhere in the world in 2012/13 with better drill results including: • 41m @ 1.71% Cu, 33 g/t Ag, 1.84 g/t Au from 363m – MBDD002 • 31m @ 2.65% Cu, 51 g/t Ag, 0.18 g/t Au from 415m – MBDD002 • 42m @ 1.01% Cu, 23 g/t Ag, 0.91 g/t Au from 356m – MBDD004 • 69m @ 3.48% Cu, 34 g/t Ag, 0.14 g/t Au from 533m – MBDD009 • 53m @ 4.08% Cu, 42 g/t Ag, 0.22 g/t Au from 470m – MBDD009W1 • 84m @ 4.42% Cu, 38 g/t Ag, 0.14 g/t Au from 575m – MBDD009W2W1 • 32m @ 3.62% Cu, 46 g/t Ag, 0.21 g/t Au from 634m – MBDD010 – True width of mineralisation varies from 5m-35m – Strike of mineralisation = ~120m – Shallowest sulphide intercept = ~150m below surface – Deepest sulphide intercept = ~800m below surface 11

Mallee Bull Current Status Final Stage of CBH Farm-in: looking for new mineralisation; commence resource definition drilling – Stage 3 of farm-in (to complete earn-in of 50%) commenced Jul 2013; completion expected by mid-Mar 2014 at which point 50:50 JV begins – Exploration for new mineralisation has comprised: • Multiple geophysical surveys including DHEM, MMR, MT/AMT, gravity • RAB and diamond drilling targeting Butchers Dog, Mallee Bull, 4-Mile Goldfields – Lots of smoke – results to date show widespread, broad scale alteration and anomalous geochemistry up to 1km from Mallee Bull; indicative of large hydrothermal system – Resource definition drilling at Mallee Bull now underway – MBDD017 (metallurgical/exploration/deep DHEM) drillhole completed with known mineralisation extended to >800m below surface – Excellent early met-testwork results showing that bulk of Mallee Bull mineralisation (footwall/stringer lode) produced ~25% Cu-in-concentrate at >90% recovery; further testwork underway – Peel completes purchase of Wirchilleba Station (Mallee Bull footprint) 12

Mallee Bull Looking Ahead Mallee Bull Maiden Resource May 2014; Looking for the next Mallee Bull – Maiden Resource Estimate May 2014 – Drillout and scoping study over balance of calendar 2014 (subject to JV approval) – Cobar-style deposits typically cluster/stack; continue search for the next Mallee Bull – Butchers Dog = high priority target – BDDD001 (drilled August 2013) targeted coincident strong DHEM conductor and magnetic anomalies; intersected broad alteration zone – Highly anomalous precious and base metal geochemistry in alteration zone – Very strong DHEM offhole conductor (~170 ms time constant = 2 x as strong as Mallee Bull) – Disseminated pyrrhotite alteration halos can be associated with Cobar-style deposits – Follow-up exploration planned 13

Mallee Bull Deeps – high-grade, copper-polymetallic 14

Cobar Project – June 2011 15