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TERRAMIN AUSTRALIA LIMITED Investor Presentation October 2011

Disclaimer No representation or warranty is or will be made by any person (including Terramin Australia Limited ACN 062 576238 ( Terramin ) and its officers, directors, employees, advisers and agents) in relation to the accuracy or completeness of all or part of this document (the Presentation ), or the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in, or implied by, the Presentation or any part of it. The Presentation includes information derived from third party sources that has not been independently verified. The Presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Terramin and certain plans and objectives of the management of Terramin. Indications of, and guidance on, production targets, targeted export output, expansion and mine development timelines, infrastructure alternatives and financial position and performance are also forward-looking statements. Any forecast or other forward- looking statement contained in the Presentation involves known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Terramin, and may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Factors that could cause actual results or performance to differ materially include without limitation the following: credit risk; levels of supply and demand and market prices; legislation or regulations throughout the world that affect Terramin's business; insurance expenses; the risk of an adverse decision or other outcome relating to governmental investigations; class actions or other claims; growth in costs and expenses; risk of adverse or unanticipated market, financial or political developments (including without limitation in relation to commodity markets). You are cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are based on information available to us as of the date of this presentation. Except as required by law, regulation or ASX Listing Rules, no undertaking is made that these forward looking statements will be updated. The Presentation is provided for informational purposes only and is subject to change without notice. Subject to any obligations under applicable laws, regulations or ASX Listing Rules, Terramin disclaims any obligation or undertaking to release any updates or revisions to the Presentation to reflect any change in expectations or assumptions. Nothing in the Presentation should be interpreted to mean that future earnings per share of Terramin will necessarily match or exceed its historical published earnings per share, or that there has been no change in the affairs of Terramin since the date of the Presentation. Nothing contained in the Presentation constitutes investment, legal, tax or other advice. The information in the Presentation does not take into account the investment objectives, financial situation or particular needs of any recipient. Before making an investment decision, each recipient of the Presentation should make their own assessment and take independent professional advice in relation to the Presentation and any action taken on the basis of the Presentation. TERRAMIN AUSTRALIA LIMITED SLIDE No. 2

Competent Person Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Eric Whittaker. The information that relates to Mineral Resources for Menninnie Dam and Tala Hamza is based on information compiled by Mr Robert Singer. The information that relates to Mineral Resources for Angas is based on information compiled by Mr Eric Whittaker. The information that relates to Ore Reserves for Tala Hamza is based on information compiled by Dr David Allison and for Angas by Mr Ian Holman. Mr Whittaker and Mr Singer are Members of The Australasian Institute of Mining and Metallurgy and Dr Allison and Mr Holman are Members of the Institute on Materials, Minerals and Mining. Mr Holman is Chief Engineer and Mr Whittaker is Principal Resource Geologist and both full time employees of Terramin Australia Limited. Mr Singer was Chief Geologist of Terramin Australia Limited, Dr Allison was Senior Mining Engineer at Golder Associates (UK) Ltd at the time of their respective estimates. All have 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 Cod e for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Whittaker, Mr Singer, Mr Holman and Dr Allison consent to the incl usion in the report of the matters based on his information in the form and context in which it appears. TERRAMIN AUSTRALIA LIMITED SLIDE No. 3

Terramin Australia Limited …a low zinc cost producer with a world class project 3 billion pounds of zinc in low cost (32c/lb) ore reserve  All projects close to infrastructure with low capex benefits  4Mtpa Tala Hamza lead-zinc project ready to permit  400,000tpa Angas Zinc Mine in operation  7.7Mt Menninnie project set to grow  Management and Board with extensive practical and commercial  experience in all stages of project development and mining TERRAMIN AUSTRALIA LIMITED SLIDE No. 4

Projects Oued Amizour & Tala Hamza Menninnie Zinc Project Angas Zinc Mine & Fleurieu ELs TERRAMIN AUSTRALIA LIMITED SLIDE No. 5

Company Overview Operations Zinc Market Outlook Zinc Market Overview TERRAMIN AUSTRALIA LIMITED SLIDE No. 6

Fast facts   ASX Listed - Market Capitalisation: ~$30m 1993 - Terramin was incorporated as Playford Resources NL  Shares on Issue: 190.3m and 6.6m Options  1997 – Terramin acquired the Fleurieu project in  Employees ~200 Adelaide including the Angas lead, zinc and sliver resource  Cash ~$10m and debt $53m (incl. bank $23m and  2003 – Terramin acquired Menninnie Dam, South con notes) Australia’s largest lead, zinc and silver deposit  Convertible Notes:  2003 – Terramin was listed on the ASX  5 yr $5.0m at $2.21/share – Sept. 2013  2006 – Terramin acquired a 65% interest in the  5 yr US$10.0m at VWAP – minimum $1.70/share (off-take partner) – Sept. 2014 world class Oued Amizour Project in Algeria  5 yr US$15.0m at VWAP (JPMorgan off-take  2008 – Angas zinc mine commissioned - partner) – March 2013 produces circa 50,000 tonnes of zinc and circa  20,000 lead-copper-silver-gold concentrates 2010 positive operating cash flow: $13m  2010 – Tala Hamza Definitive Feasibility  Hedging/Forward sales: completed for 4Mtpa block cave mine producing  A$15m gold and silver 50% fix to Q2 2013 400Ktpa Pb + Zn concentrates  Over 4000 shareholders TERRAMIN AUSTRALIA LIMITED SLIDE No. 7

Management Strong management team with commercial and technical expertise Nic Clift Managing Director Finance & Tala Hamza Angas Geology Commercial John Burgess TBC Mark Terry Robert Howie GM – Tala Hamza General Manager, GM – Angas Zinc Mine Chief Financial Officer Project Exploration Stephane Gauducheau Eric Whittaker Block Cave Legal Counsel and Co. Principal Resource Experience Sec. Geologist Norman Dinevski Ian Holman Charlotte Hy Commercial & Marketing Chief Engineer Principal Geologist Manager Shaun Reincke Sam Hewitt Ken Cross Financial Controller Principal Engineer Principal Geologist Patricia Williams HR Manager TERRAMIN AUSTRALIA LIMITED SLIDE No. 8

Financials 2010 Financial Year Highlights Angas Revenue and EBITDA ($’m) 70 25 Angas revenue from operations - $59.5m  60 20 50 15 40 Angas EBITDA - $17.0m  30 10 20 Cash flow from operations - $12.9m  5 10 0 0 2008 2009 2010 Cash balance at 30 June 2011 - $9.6m  Revenue [LHS] EBITDA [RHS] Strong Revenue and EBITDA growth TERRAMIN AUSTRALIA LIMITED SLIDE No. 9

Company Overview Operations Zinc Market Outlook Zinc Market Overview TERRAMIN AUSTRALIA LIMITED SLIDE No. 10

Oued Amizour Zinc Project - Algeria 65% Terramin : 35% Government Companies  Location  Infrastructure deep water port  international airport  plentiful water on lease   Workforce proximity to city  local universities  high unemployment  iron and zinc mining history   Cheap power and fuel (US$) power approximately 4c/kWh  low cost fuel – diesel – 20c/l   Excellent regional potential 125 km 2 prospective tenement  TERRAMIN AUSTRALIA LIMITED SLIDE No. 11

Project ranking Tala Hamza in the top ten zinc mines.... Zinc Mine Output (Zn Metal ‘000tpa) – Total forecast zinc production ‘2011 – 13.61mt 700 Based on 2010 production 600 2015 Continuing mines 500 Mine closures by 2015 400 2013 300 2014 2015 200 100 - Rampura Red Dog Century Antamina Mt Isa San Cristobal Brunswick Tala Hamza Skorpion Lisheen Tara McArthur Perseverance Agucha River Source: BNP Paribas and RBC for forecast closures; Company sources for 2010 production amounts TERRAMIN AUSTRALIA LIMITED SLIDE No. 12