Mines & Money Hong Kong 2013 Hong Kong Mines and Money – 26 th March, 2014

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Development Platform – Asset Portfolio Tenure:- 18 licences7 Granted. 11 ELAs.All 100% ownedTotal = 31,768 km 2 Commodities:-IronsandsCoalCopper / Gold Portfolio Overview Projects Overview – one of the largest tenement holdings in PNG The area of Mayur’s portfolio is equivalent to just under 7% of PNG’s landmass. 3 Mayur’s extensive tenement portfolio

4 IRON & MINERAL SANDS Ironsands landscape on Mayur‘s Kerema tenement. IRON ORE & INDUSTRIAL MINERALS IN PNG - ASIA’S NEW LOW COST IRON & MINERAL SANDS PRECINCT

Mayur’s Iron and Zircon Province Introduction 5 Moderate to high-grade extensive Ironsands and Zircon deposits in southern PNG Gulf of Papua Region 1 Exploration Licence granted, 10 EL’s under application. Successful wardens hearings for 7 ELA’s recently completed. Total area under exploration - >23,000km² Over 400km of contiguous tenements Average Heavy Mineral content 63% % Mags (Yield) – 18.3% (recent field work) Zircon ‘by product’ grading 0.4% – 1.5% in HM Development concept based on low cost onshore mining – estimated OPEX of $25 – 35 / t FOB Likely to be one of the largest Ironsands and Zircon provinces in the world with multiple high grade target zones

Iron and Zircon in PNG 6 Ironsands content Umunda Island Uamai Beach Deception Bay Purari River Delta Sand bank near Kiwai Is. Vanadium Titanomagnetite is the main economic constituent Economic Potential for the following additional Minerals:- Ilmenite (FeTiO₃), Rutile (TiO₂), Monazite (REE’s) Gold in low concentrations Deposits have low slimes (<15%) and low oversize (<1%) Low levels of potential contaminants such as Phosphorous and Silica

7 One of Mayur’s many Ironsands and Zircon projects Orokolo Bay – 100Mt (non-JORC) resource potential Orokolo Bay – Previous high resolution aeromagnetics highlighting preserved palaeo-strandlines in red Through previous exploration work Mayur has an exploration target and of 100Mt of Iron Sands and 500,000 tonnes of Zircon, given the aeromagnetic anomaly is open to the SE. The Orokolo Bay prospect comprises a series of preserved SE-NW striking beach strands around m wide and several kilometres long, with a thickness of between 4-6m.

MARKETABILITY PARAMETERS Fe grades - average concentrate spec of >58% Fe Zircon by product Potential for Vanadium, Titanium, rutile, ilmenite and gold as a valuable by-product Initial phases is 1 -3 mtpa ironsands concentrate with 50,000 to 150,000 tonnes per annum of Zircon Iron and Zircon in PNG Specification – extremely positive initial results 8 Dredging for ironsands Drilling for ironsands CompanyLocationFe%V205%V205%TiO 2 %SiO 2 %AI %P%Zircon % Mayur *EL2150> Latin Resources(Peru) n/a Indo Mines(Indonesia) n/a Amex Resources(Fiji) n/a NZ Iron & Steel(Taharoa, NZ) n/a Platts IO Fines 58% Fe-58n/a 4.005% max0.07n/a Platts IODEX Fines 62% Fe-62n/a 4.502% max0.07n/a *average indicative spec from Mayur Results taken from magnetically concentrated samples High grade Fe concentrate from samples Low SiO 2 and Al impurities Phosphorous negligible >17% magnetite yields

9 COPPER & GOLD IN PAPUA NEW GUINEA - LEVERAGING PNG’S STATUS AS ONE OF THE WORLD’S MOST PROLIFIC COPPER & GOLD PRECINCTS Talesea Peninsula, PNG. COPPER & GOLD

10 EL Feni Islands – A proven Tier 1 ‘Lihir-style’ Caldera deposit Feni Islands – Regional Geology Two main islands in the group – Ambitle & Babase Licence under application over 4 collapsed volcanic calderas. Both islands have at their centres eroded calderas. Both islands show very similar geology, to the Lihir Mine (65 Moz Au), and nearby Simberi mine (5MOz) on Simberi Is. The country rocks are alkalic mafic to intermediate strato- volcanics A young Monzonite Intrusive Complex exists on the island. Extensive previous drilling with notable intercepts are highlighted below:- 0.82g/t (incl 1.65 g/t Au) 1.12 g/t Au (incl 0.2% Cu) 5.7 g/t Au 10 g/t Au 35g/t Au Copper & Gold – Volcanic Arcs & Calderas Lihir Gold Mine within caldera New Ireland 5 km wide collapsed volcanic caldera – (65 Moz Au) Lihir Island

Copper & Gold – Porphyry Systems 11 Tunawada Top 20 Whacker Holes Sample Au (ppm) B B B B B B B B B B B B B B B B B B B B Average2.76 Tunawada Porphyry Cu-Au Project * 250m x 800m zone of >0.5 g/t gold-in- bedrock anomaly (see image) * Best hole hit 21g/t Au * Historical rock chip results up to 239 g/t Au * Breccia zone with potential for high grade gold located by Mayur Sample RC – Breccia float found in Tunawada Ck Basilaki Island – Tunawada Prospect Tunawada prospect Gold in Whacker Holes

12 COAL IN PAPUA NEW GUINEA - OPENING UP A NEW FRONTIER FOR COAL IN ASIA Vailala River on Mayur‘s tenement. COAL

Developing coal in PNG Introduction – ‘PNG - A new frontier for Coal in Asia’ Coal exploration project in PNG - consisting of 4 tenements in the Papuan Basin, 3 granted, 1 under application Prospects for thermal coal identified in a number of locations Coal seams located on Mayur’s Orokolo Bay application Coal resources delineated across border within West Papua, Indonesia, and high grade Anthracite mined at two locations in West Papua Possible to barge coals on the Purari or Vailala Rivers Very close proximity to access seaborne market Mayur has rights to explore on 4 licences to the west 13 Map of known coal occurring regions on the island Coal Purari River

14 Depot Creek – Case study Multiple coal seam occurrences (8 seams located thus far from 1.2m – 4m thickness) Never been drilled Fairly unpopulated region River access to seaborne market Government support for coal mining Kerema GULF OF PAPUA Mayur rivers highlighted within Mayur’s Gulf tenements Developing coal in PNG Coal seam 2.8m thick (5001 kcal/kg ADB) Coal seam >1.5m thick (4941kcal/kg ADB)

Coal Project Development - Potential to be the next Kalimantan Developing coal in PNG Coal seam 4m thick (5079kcal/kg ADB) Coal seam 1.9m thick (5025kcal/kg ADB) 120km strike length of coal seam occurrences, note barge-able Purari River nearby Selected coal seam analysis at Depot Creek SampleLocationIM%Ash%VM%FC%TS%ADB kcal/kgNAR kcal/kgSeam Thick MC003Depot Creek m MC009Depot Creek m MC012Depot Creek m MS001Depot Creek m Avg 13 samplesDepot Creek m