Phoenix Copper Limited Copper Producer & Explorer Annual General Meeting of Shareholders

1. Phoenix Copper Limited Copper Producer & Explorer Annual General Meeting of Shareholders ASX: PNX November 2011

2. Disclaimer & Competent Person Statement • This presentation is an overview of the Company prepared with good intention. It is not a prospectus and offers no securities for subscription or sale in any jurisdiction, nor a securities recommendation. • All information necessary for investment decisions is not contained herein and investors are encouraged to conduct their own research of Phoenix Copper Limited in conjunction with legal, tax, business and financial consultation. • Phoenix Copper Limited, its directors, officers, employees and agents disclaim liability for any loss or damage suffered by reliance on information contained in this report when making investment decisions. In addition, no express or implied representation or warranty is given in relation to the completeness and sufficiency of the information, opinions or beliefs contained in this document or any other written or oral information made or to be made available to any interested party or its advisors. • This presentation may refer to the intention of Phoenix Copper Limited but it does in no way intend to forecast forward looking statements or future matters for the purposes of the Corporations Act or any other law. Future events are subject to risks and uncertainties, and as such results, performance and achievements may in fact differ from those referred to in this presentation. • No liability is accepted for any loss, cost or damage suffered or incurred by the reliance on the sufficiency or completeness of the information, opinions or beliefs contained forthwith. • Research, evaluation and analysis of the business, data and property are encouraged before making financial investments. Any estimates, projections or opinions contained herein may involve subjective judgement, analysis and interpretation, and satisfaction of ones owns decisions should be undertaken. • This report contains forward-looking statements. These forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, or expectations to differ materially from the results expressed or implied in the forward looking statements. • Information of a scientific or technical nature in this presentation, including information that relates to Exploration Results, is based on and accurately reflects information compiled by Mr Mark Manly and Mr Paul Dowd, who are both employees of Phoenix Copper Limited. Mr Manly is a Member and Mr Dowd is a Fellow of the Australasian Institute of Mining and Metallurgy and both have sufficient experience relevant to the style of mineralisation and the type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Manly and Mr Dowd consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

3. Trends of Crude Steel Consumption relative to Gross National IncomeBubble represents population size of country 2007

4. Assets at Various Stages of Development – Superior to Most Peers PRODUCER LCCM Assets JORC Resources 3 x Granted MLs, Leach “History” DEVELOPER (Advanced Exploration) Development of LCCM Assets O/C Potential in known mining area; LCCM - 3 x MLs EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets YP - High Quality IOCG, Moonta-Style Copper Burra “Hub” remains possible – Princess Royal + Burra. Uranium prospects packaged

5. Yorke Peninsula – The Company Maker PRODUCER LCCM Assets DEVELOPER (Advanced Exploration) Development of LCCM Assets O/C Potential in known mining area; LCCM 3 x MLs EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets YP - High Quality IOCG, Moonta-Style Copper Burra “Hub” remains possible – Princess Royal + Burra. Uranium prospects packaged

6. Olympic Domain “Elephant Country” Olympic Domain from Prominent Hill, Olympic Dam & Carapateena to the Yorke Peninsula. Exploration success in these types of geological environments can transform a junior company • Olympic Dam (BHPB) >78 Mt Cu & 90 Mozs Au • Prominent Hill (Oz Minerals) 2.5 Mt Cu & >3 Mozs Au (Cu Ore) • Carapateena (Oz Minerals) 2.6 Mt Cu & 6.5 Mozs Au (Inf Res) • Hillside (Rex Minerals) 1.5 Mt Cu & 1.4 Mozs Au • Moonta-Wallaroo (historic) >355 Kt Cu & 64 Kozs Au

7. Highly Prospective Structural Setting • Rex Minerals - Inferred Resource of 170Mt @ 0.7% copper & 0.2g/t gold in sheared rocks of the Hiltaba suite closely associated with the Pine Point Fault at Hillside. • Phoenix Copper has identified targets in the geophysical data: • structures splaying off the Pine Point Fault. • a south west extension of the Pine Point Fault . • other significant structures disrupting the HiltabaSuite in PNX’s ELs. • Drill Targets refined by Airborne EM to commence after crops removed MAGNETICS GRAVITY DEPTH TO CAMBRIAN Hillside Hillside Hillside

8. 13 Target Areas Identified • Phoenix Copper 3D Modelling of Aeromagnetic Data to identify significant bodies of rock adjacent deep seated structures similar to those seen at Hillside or Moonta. Targets for follow up exploration were derived • Targets T1, 2, 4, 5, 7, 8, 12 and 13 - alkali feldspar and magnetite metasomatic alteration Hillside-style Target • Targets T3, 6, 9, 10 and 11 - moderate to weakly magnetic bodies may be associated with metavolcanics and metasediments intruded by Hiltaba Suite granitoidsMoonta-style Targets Several areas of high magnetic susceptibility associated with significant structures were identified.

9. Yorke Peninsula Exploration Program • Airborne survey 23rd Nov 2011 • more precise location of drill collars • EL4031 Nth Block and EL4312 Nth section of Southern Block • cost ~ $250,000 – PACE funding • Priority 1: coincident 3D magnetic and VTEM • Crops harvested Dec 2011 - drill locations available Mar 2012 (subject to access agreements with landholders) • initial program of 8 x ~ 200m deep holes • if successful, a further program (2,000m) drilling on best 4 targets

10. Significant Value Potential at Burra “The best place to search for an orebody is within the shadow of the headframe” PRODUCER LCCM Assets JORC Resources 3 x Granted MLs, Leach “History” DEVELOPER (Advanced Exploration) Development of LCCM Assets O/C Potential in known mining area; LCCM 3 x MLs EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets YP - High Quality IOCG, Moonta-Style Copper Burra “Hub” remains possible – Princess Royal + Burra. Uranium prospects packaged

11. Burra Project • 6 Contiguous exploration licences that surround the historic Monster Mine • The Monster Mine produced 2.6Mt of Cu ore in 2 major mining phases (1845 – 1877, 1970 – 1981) • Monster Mine itself is within an area reserved from the Mining Act and excluded from EL4226, but is an important indicator of the potential of the Burra North Prospect • Primary source of Monster Mine secondary mineralisation yet to be discovered • little deep drilling undertaken to date

12. Burra North Prospect Section to be drilled • Significant potential for repetitions of the Monster Mine • Northern area under-explored – no reported drilling immediately north west of the Monster Mine pit • same fault zone that hosts Monster Mine • several significant IP anomalies identified around the Monster Mine (refer green hatched areas on adjacent map) • Planned drilling campaign early 2012 • Phase 1 – 8 diamond holes to test heart of IP anomaly Burra North Prospect Monster Mine Pit Burra “reserve”

13. Significant Value Remains in Leigh Creek Assets PRODUCER LCCM Assets JORC Resources 3 x Granted MLs, Leach “History” DEVELOPER (Advanced Exploration) Development of LCCM Assets O/C Potential in known mining area; LCCM 3 x MLs EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets YP - High Quality IOCG, Moonta-Style Copper Burra “Hub” remains possible – Princess Royal + Burra. Uranium prospects packaged

14. Leigh Creek Assets – Development Plan Lorna Doone & Lynda ML5498 11,900 t Cu (Indicated & Inferred Mineral Resource) in two proposed open pits. Approx 65kms Mountain of Light ML5467 7,700 t Cu (Indicated & Inferred Mineral Resource) in two planned open pits. Operating Heap Leach and Copper cementation plant. Mt Coffin ML 5741 Historic drilling has many significant high grade copper intercepts including 8m @ 2.70% Cu 20m @ 2.00% Cu 11m @ 4.10% Cu 0 5km

15. Mountain of Light Learnings Significant assumptions in original feasibility study proved to be inaccurate: • Effects of clays & water table on heap leach operation – extreme • Lack of working capital • No scale up from test-work to operation • Significant Cu required for pond and pad inventory • Less than ideal infrastructure design (ponds too small, no ILS pond) • Lack of technical & costs “History” • Initial mining contractor created backlog & discontinuity – contract terminated • Incorrect crusher for material type - utilised as the only available unit for continuity • Availability of skilled & non-skilled workforce; accommodation

16. Feasibility Study • Crushing options include MMD mineral sizer or tooth roll crusher • less abrasive, • high utilisation in clay bearing rock, • lower operating and maintenance cost than high impact crushers • Mining plan to start in Paltridge North starter pit • Mining 7.4tpd of contained Copper required for production of 4.4tpd contained Copper in cement • 3 year mine life at the above rates • High levels of beneficiation in the testwork ~100% of the oxide resource may be mined, reducing the 0.4% cutoff grade and increasing the available copper to leaching

17. Testwork 79% Copper • PN starter pit Results:- • +250µm matlcontains 78.1% of Cu for • 33.5% of the mass, and • Grade from 0.55% Cu to 1.27% Cu, an upgrade factor of 2.27 • Up to a 15% Cu loss in the -38µm fraction • Tests to confirm losses generated through abrasion in crushing process 33% Tonnes Ore Leach >2 x Y% Cu Ore 100% Screening Waste Y% Cu 21% Copper 67% Tonnes Waste • Optimum split • Historical tests 75µm, • Current tests 250µm • Coarse Copper split – Hydrosizing N/R? • Tests to confirm equipment selection - Scrubbing Drum or Screen Washing • 78-90% Acid soluble Cu - size dependent

18. Schedule • End Nov 2011, scrubbing testwork complete • Limited Hydrosizing work required, complete by mid Dec 2011 • Next phase of testwork to begin in Dec (brought forward from Jan), this will take a minimum of 60 days • Bottle roll for initial acid consumption on coarse size fractions • Load percolation for irrigation rates and slump factor • Initial agglomeration • Columns to determine leach curves

19. Estimated Capital requirements Sourcing actual capital costs now test work data has been received and equipment selection is more focussed. Indicative Pricing (± 35%):- • Crusher, feeder, screens $650K • Scrubbing drum $100K • EPCM, Plant Constn, inclcivils, piping, etc $1270K • Current operation upgrades & expansion $650K SUBTOTAL $2670K • Pre-strip (Working Capital) $600-700K TOTAL $3370K

20. Process Flow SCRUBBED COARSE ORE +12.5mm ROM Ore • COARSE ORE BLENDING Crushed Ore -25mm SCRUBBED ORE -12.5mm • SLIMES/FINES • -250µm HEAP LEACH • DESLIMED COARSE ORE • +250µm THICKENER 2 DECK SCREEN • DESLIMED • COARSE ORE +1.0mm COPPER CEMENT TAILINGS

21. Conclusion Not Just Another Junior Explorer Distinguished from Peers Producer-Developer-Explorer High Quality Assets Exploration at Yorke Peninsula – “Elephant Country”

22. Forecast Expenditure

23. Forecast Expenditure

24. Annual Admin & O/Heads for PNX as a Producing Company Admin & Overhead for Producer ~$1.5M; for Explorer ~$1.3M

25. Board Equity