The Geology of the Endeavor Mine - an update -

1. The Geology of the Endeavor Mine- an update - Peter Nicholson, Don Smith and Vanadis Mares CBH Resources Limited

2. 1973: Discovered by EZ - bullseye mag anomaly with coincident Pb/As in soil 1983: Production begins from Elura Mine 1998: Intersection of mineralisation close to limestone at ~1200m depth 2003: Purchased by CBH Resources Ltd. and renamed Endeavor Mine History CBH Resources Limited

3. At June 2005 Resources: 17.7 MT 4.9% Pb, 8.7% Zn, 69 g/t Ag Reserves: 11MT 4.9% Pb, 7.9% Zn, 66 g/t Ag Mine Production: ~24MT At present, production is ramping up to a rate of 1.4 MT per annum Production CBH Resources Limited

4. Generally polymetallic discordant veins hosted by siliciclastic turbidites Often in anticlines adjacent to competent lithologies Concentration of shows within structural corridor on E margin Transfer structures often present Largest deposits adjacent to basement protrusions into Basin Cobar Basin – Mineralisation CBH Resources Limited

5. Endeavor 9600RL Limestone 4900E 200m Cobar Basin Mineralisation The Peak after Lawrie and Hinman 1998 500m 25640E Rhyolite Rhyolite 100m • Generally polymetallic discordant veins hosted by siliciclastic turbidites • Often located in anticlines adjacent to competent lithologies, e.g. limestone at Endeavor, rhyolite at The Peak, basic intrusive at Louth CBH Resources Limited

6. Structural Corridor Cobar TMI Corridor is defined by mineralisation, coincides with magnetic, gravity and geological fabric CBH Resources Limited

7. Basement Protrusions Cobar Basin Gravity Basement protrusions indicated by gravity low anomalies and doming of sediments CBH Resources Limited

8. 145 147 31 31 CBH Tenure Endeavor CSA The Peak Triako Tenure 32 32 Hera Protrusion of basement into Cobar Basin 0 25 50 Cobar Basin Summary structural corridor CBH Resources Limited

9. Endeavor Mine 7000N Cross Section surface sulphide stringers • 1200m siliclastic turbidites overlie limestone breccia • Tuffs and two shale rich units markers • South plunging anticline • Early concordant and steep NNW faults • Later steep N and NNE faults cut mineralisation upper shale 9600RL high-grade massive sulphide lower shale limestone 4900E 200m CBH Resources Limited

10. Endeavor Mine 7000N Cross Section Above 900m depth within anticline axis Truncates against shales Offset by N and NNE faults Sub vertical pipes within sheet Below 900m mineralisation bifurcates into two concordant zones that dip down anticlinal limbs Alteration Siderite clots and replacement forms halo several tens of metres around sulphide stringers. Preferentially replaces siltstone/sandstone Silicification and chloritisation intense in places surface sulphide stringers upper shale 9600RL high-grade massive sulphide lower shale limestone 4900E 200m CBH Resources Limited

11. Endeavor Mine 7075N Cross Section Sandstone/shale Lower shale PO/PY/SIPY VEIN 6-10%PbZn MINA 1-6%PbZn 20m CBH Resources Limited

12. sulphide stringers N high-grade massive sulphide 7000N Main Lode 6500N 4900E 200m Endeavor Orebody 9400RL plan • Mineralisation in anticline axial plane • Low-grade halo of sulphide stringers open along strike • N and NNE faults truncate CBH Resources Limited

13. Endeavor Mine Schematic Long Section Main Lode upper shale 9600RL lower shale Partially defined concordant mineralisation limestone 9000RL 200m 7000N CBH Resources Limited

14. >400g/t 30-40 100 m Metal Zonation (long section slices) >9.0% >0.6% 0.04-0.1 1.0-2.0 Zn Cu Ag 100m Cu • Zinc Highest grade (8-10%) in centre of pipes. Pb similar • Silver Concentrated on upper/outer margins. Up to 1000ppm • Copper Up to 4% in small pods at base of pipes CBH Resources Limited

15. >9% >400gt >0.6% 30-40 0.04-0.1 1-2 Cu Zn Ag 100 m Metal Zonation - Cross Section 7080N CBH Resources Limited

16. Axial Plane Mineralisation Massive textured and banded Banding sub parallel to contacts Often rapid transition from altered sediments Concordant Mineralisation Quartz-siderite veins along strike Low grade material composed of discordant veins and concordant replacements Endeavor Mine Mineralisation Textures CBH Resources Limited

17. Mineralisation Textures Face showing near-horizontal bedding in lower shale unit with siltstone layers replaced by pyrite, sphalerite & galena Vein at the centre of the photo sub parallels cleavage & measures ~20cm CBH Resources Limited

18. Mineralisation Textures 20 mm CBH Resources Limited

19. Mineralisation Textures sphalerite galena sphalerite 10 mm CBH Resources Limited

20. Massive sulphide zones open up dip, down dip & to N of current workings Mineralisation near limestone contact to be tested from W High metal prices have encouraged investigation into mining zones of stringer mineralisation Stringer zone open along strike to N & S, down dip on both limbs. May contain more massive sulphide or lower grade zones Endeavor Mine – Exploration CBH Resources Limited

21. 100m Endeavor Mine Exploration Massive Sulphide sulphide open sulphide & stringers open stringers open sulphide & stringers open Limestone Contact mineralisation partially defined

22. Drilling planned to test mineralisation adjacent to the limestone contact Endeavor Mine Exploration Planned drillholes limestone lower shale 50m CBH Resources Limited

23. Mineralisation localised in zones of competency contrast on both regional and local scale Shale-rich sequences appear to truncate axial plane mineralisation Concordant mineralisation may be important Better understanding of mineralisation controls and high metal prices has expanded exploration opportunities Endeavor Geology Update - Summary CBH Resources Limited