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BUENA SUERTE MINING CORP

BUENA SUERTE MINING CORP. Buena Suerte Mining Corp (BSMC). Who is BSMC? An affiliate of Oxiana & Royalco Resources Ltd. Oxiana interests being restructured to Royalco. Oxiana a major shareholder of Royalco (as well as Rio Tinto). Track Record Incorporated in 1995.

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BUENA SUERTE MINING CORP

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  1. BUENA SUERTE MINING CORP

  2. Buena Suerte Mining Corp (BSMC) • Who is BSMC? • An affiliate of Oxiana & Royalco Resources Ltd. • Oxiana interests being restructured to Royalco. • Oxiana a major shareholder of Royalco (as well as Rio Tinto). • Track Record • Incorporated in 1995. • CEMCRR issued by MGB Region VIII on 07 Nov 2005. • CEMCRR issued by MGB Region XIII on 10 Oct 2005. • Has actively explored other areas in the Southern Leyte region in the past and have relinquished them after completion of exploration, spending Php 7.7M. BSMC supports the “Use it or Lose it Policy”.

  3. Royalco Resources Ltd. • Board of Directors of Royalco: • Peter Topham, Executive Chairman Founder of Royalco. Former Managing Director of Mineral Commodities Limited • David Ogg, Chief Financial Officer and Director Founder of Royalco. Specialises in financial and strategic advice. Former Director of Mineral Commodities Limited. • Tom Eadie, Non executive director Managing Director of Copperstrike Limited and Chairman of Discovery Nickel Limited. Previously with Austminex, Pasminco, Aberfoyle, Cominco. • Adam Boyd, Non executive director Managing Director of Pacific Energy Limited, with a background in project finance. • Peter Lester, Non executive director Executive General Manager, Corporate Development, Oxiana.

  4. Royalco Capital Structure • IPO raised $12m by issue of 24m shares at 50c • Market capitalisation upon listing - $28.2m • Total shares on issue – 56.4m (3.31m options) • Number of shareholders >700 • Substantial Shareholders: • Oxiana Limited 17.7% • Topham & Ogg (Directors) 17.2% • Rio Tinto 6.4% • Colonial First State 7.9% • (Escrow 35%)

  5. Oxiana Ltd • Australian Gold Company of the Year for 2005. • 3rd largest gold producer in Australia. • Owns & operates the Sepon Mine in Laos. The first and largest foreign investment in Laos with annual production of 200,000 oz Au and 60,000t Cu cathode. • Owns and operates Golden Grove Mines in Western Australia for Base Metals producing 140,000t Zn, 50,000t Cu, 12,000t Pb, 60,000 oz Au & 4M oz Ag annually. • Developing Prominent Hill Copper-Gold deposit in South Australia. Total Resource as of 31 Dec 2005 estimated at 2.59M Oz Au & 1.48Mt Cu. • Active in the Philippines since 1995.

  6. Technical Competence AUSTRALIA: • 2 Financial & 1 Technical staff. STAFF PHILIPPINES: • 6 Technical Staff and expanding: • Joey Nelson R. Ayson • Mario E Aco • William Bondame • Ryan Eludo • Noel del Rosario • Ruben H. Quitoriano • 4 Environment & Community Relations Staff • Dr. Lourdes Dolinen • Oliver Domeyeg • Dulmar Raagas • Eleuterio Catacte • 1 Office Administration Staff • Sheryl Duque

  7. Expatriate Involvement • Expatriate involvement for JORC compliance in the short term. • Filipino technical staff currently being admitted to AusIMM. • Some expatriate consultants may be required in the future for geophysical programs and resource estimation.

  8. Malangza Project • EPA-00040-VIII • Province of Southern Leyte • Municipalities of Liloan, San Francisco & San Ricardo

  9. Malangza Project • EPA-00040-VIII • Filed 20 Aug 2004 • 4,192 Hectares • Sectoral Clearances from DENR obtained (PAWB, LMS, FMS) • NCIP Certificate Precondition issued 22 Jun 2005. • Certificate from Panel of Arbitrators issued 9 Jan 2006. • Strong community support.

  10. Exploration Work Program • Total proposed expenditure over 2 years is Php 10 – 15 Million. • Exploration Work Program • Stage 1: Research Work • Compilation and review of all available geologic data, literatures etc. • Stage 2: Reconnaissance Survey • Acquisition and interpretation of Aerial photography, Radar & Satellite imagery. • Regional geologic Mapping & Geochemical survey • Possible Airborne Magnetic Survey Above: Geologic Mapping & Rockchip Sampling Below: Airborne Magnetic Survey

  11. Exploration Work Program • Exploration Work Program • Stage 3: Follow-up Survey • Ground Geophysics • Geological Mapping & Alteration Studies • Closely spaced Geochemical survey. • Stage 4: Detailed Survey • Topographic Survey • Grid soil sampling • Diamond Drilling Above: The IP transmitter during a survey Below: Diamond Drilling in action

  12. Environmental Work Program • Estimated at 10% of exploration expenditure (Php 1.0 - 1.5M) • Environmental Work Program • Baseline Survey by a reputable 3rd party. • Employment of an Environmental Officer. • Geohazard mapping in coordination with MGB. • Utilization of existing access roads • No cutting of trees. • Rehabilitation of drill pads by planting indigenous plant species. • Employees will be provided with adequate protective equipment. • Waste segregation Above: Information & education campaign Below: Drillhole collar concreted and drillpad revegetated

  13. Environmental Work Program • Social Responsibility • Preferential employment for qualified Locals. • Salaries and wages are generally above minimum set by law. • Training and upgrading of employees skills. • Maintenance and repair of existing roads. • Subsidized salaries and allowances for a Teacher/Nurse. Above: Slope Stabilization at Panaon Is, So. Leyte Below: First aid training of local staff

  14. Environmental Work Program • Social Responsibility • Partners in community development. • Livelihood projects in coordination with the LGU and the host community. • Provision of text books, posters and audio visual teaching aids in local schools. Above: Donated Cement & hollow blocks for Malimono Elementary School. Below: Hog for dispersal to community

  15. Environmental Work Program • Social Responsibility • Donated relief goods to disaster-affected communities. • Supported Medical & Dental missions to the host communities in coordination with the LGU. • Supports “Operation Rainbow”. Above: Construction of a waiting shed at Brgy Bunyasan, Malimono, SDN. Below: Medical Mission at Malimono, SDN

  16. Environmental Work Program • BSMC Supports the Green Philippine Highways Above: At the Tree-planting site, Surigao – Butuan Highway Left: Cleaning and grass cutting of road shoulder Below: Ensuring survival of planted trees.

  17. Environmental Work Program • BSMC Supports the Green Philippine Highways

  18. Other Achievements • Had agreements with the IPs even prior to the enactment of the IPRA Law. • Promoted the development and use of indigenous materials for various purposes. Above: Use of coco-net for slope stabilization

  19. Environmental Policy • Integrate sound environmental management into all of its business, including long term strategy. • Ensure that its employees and contractors are informed about this Policy and made aware of their environmental responsibilities in relation to the Company's activities. • Require all contractors to comply with BSMC's policies. • Keep the community informed on a regular basis of the Company's activities and consult with the community in relation to the Company's operations. • Comply with this policy as well as any applicable statutory laws and regulations. • Prepare and maintain a plan for the eventual closure of each operation, which shall include consultation with local communities. • Seek continuing improvement through review, assessment and reporting. • Rehabilitate sites or areas disturbed as defined in the applicable Environmental Work Program.

  20. Community Relations Policy • Recognize that each community is different and respect the culture, values and traditions of those communities in which it seeks to operate. • Be open and honest in describing the impacts of any exploration and mining activities. • Establish two-way communication mechanisms to develop lasting and beneficially interactive relationships. • Encourage and provide opportunities to share in the benefits, which flow from mining activities. • Commit to long term development so that social and economic benefits are safeguarded. • Seek to create lasting relationships built on mutual respect and trust so as to reach agreed objectives and shared involvement. • Comply with this policy as well as observing any statutory laws and regulations.

  21. Other BSMC Projects • 2 EPs in Surigao (EP XIII-0015 & XIII-0020) • 5,301 Hectares • Located in Surigao del Norte • Currently undergoing exploration and data review to generate drill targets for 2007. • Spent Php 14.6M as of 30 June 2006. • Yabbe EPA II-0006 • 16,200 Hectares • Located in Nueva Vizcaya • Undergoing clearance in the Regional Level

  22. BSMC Projects

  23. Associated Projects in the Philippines • Samay (EP V-2002-002) • Located in Camarines Sur. • JV with Phelps Dodge Exploration Philippines. • Drilling to commence shortly. • Proposed expenditure of Php 15M. • Pao (EP II-00014) • Located in Nueva Vizcaya, 5kms southwest of Didipio. • Undergoing FPIC. • Proposed expenditure of Php 60M. • Gambang (EPA CAR-00001) • Located in Benguet, south of Lepanto Operations. • Undergoing FPIC. • Proposed expenditure of Php 75M.

  24. Outlook for 2007 (BSMC) • Fieldwork and Geophysics in Malangza. • Confirmation of drill targets in Surigao. • Approval of Yabbe EPA II-0006, located south of Pao. • Currently doing Due Diligence of other areas for possible Joint Ventures.

  25. Thank you!

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