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ASX Spotlight Asia Investor Conference 27 - 29 May 2014

ASX Spotlight Asia Investor Conference 27 - 29 May 2014. Important notice.

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ASX Spotlight Asia Investor Conference 27 - 29 May 2014

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  1. ASX Spotlight Asia Investor Conference 27 - 29 May 2014

  2. Important notice This presentation contains certain statements which may constitute "forward-looking statements.” Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward-looking statements. No representation or warranty, express or implied, is made by Indophil Resources NL (the Company) that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information. The information in this presentation that relates to mineral resource estimates is based on information compiled by the Tampakan Project geology team in the Philippines and the Xstrata Copper (now Glencore) resource evaluation team. The mineral resource information was developed and compiled under direction of a full-time employee of Xstrata Copper (now Glencore) and a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) who is defined as a Competent Person in the 2004 edition of the “Australasian Code for Reporting of Exploration Results.” The designated Competent Person has consented to the geological interpretation as contained in Indophil’s announcement to the ASX on 27 January 2012, and is duly summarised in this presentation. For detailed information, please refer to the ASX announcement on website ‘www.indophil.com’. * All currencies in Australian dollars unless stated otherwise.

  3. Indophil at a glance And: Philex2.43%, San Miguel 3.99% ASX listed IRN Issued shares 1,203M Share price (26 May) 15c Market cap (approx.) $180M Cash: 30 April 2014$209.8M Cash backing approx. 17.4cps ChairmanBrian Phillips CEO/MDRichard Laufmann Executive DirectorTony Robbins DirectorKyle Wightman DirectorDavid Carland DirectorNick Alcantara (Alsons) DirectorRicky DyBuncio (SM Group)

  4. Tampakan history WMC completes initial scoping and feasibility studies Indophil PFS completed - 1.97 Bt @ 0.6% Cu resource Xstrata completes extended PFS - Resource upgrade 2.49 Bt @ 0.6% Cu. Final FS starts Glencore acquires 100% of Xstrata - Project workforce and cost reductions • 1992 • 2002 • 2007 • 2012 • 2014 • 1997 • 2006 • 2009 • 2013 WMC discovers Tampakan Columbio FTAA (Tampakan Project) transfers to Indophil and SMI Xstrata assumes project control – 62.5% Resource upgrade 2.94 Bt @ 0.51% Cu Glencore sells Las Bambas in Peru* * Tampakan no longer a forced sale asset under Glencore’s MOFCOM merger approval

  5. Tampakan – the asset and interests Ore 2.94 Bt Cu • 15 Mt Copper Au • 17.6 Moz Gold • Glencore • 62.5% • Indophil Resources • 37.5% • Tampakan is held by SMI under a contract to the Government of the Philippines • (The Columbio FTAA – Financial & Technical Assistance Agreement)

  6. Tampakan is globally important (Glencore/Indophil) (Glencore/Highlands - PanAust) (Glencore)

  7. Located in Southern Mindanao • Final Mine Area • Concentrate pipeline • Port, power station, • filter plant • Tampakan

  8. Tampakan project is robust 1st quartile Mining • First quartile cash costs Power US$ 6 Bn 1.19 : 1 • First quartile stripping ratio (waste : ore) tonnes Processing Infrastructure 66 Mtpa • (Note: Less US$900M to be outsourced for power station development) • Ore throughput is among world’s largest Project cost to date: >US$500M Au Cu • 375,000tpa • 360,000ozpa Years 1 – 5: Cu 450Ktpa and Au 435Kozpa

  9. Feasibility Study design – Year 5

  10. Feasibility Study design – Year 20

  11. Benefits for the Philippines $13 Bn $6.3 Bn $2.8Bn pa • Low prices • Medium prices $1Bn • Poverty • Income • Health • Education& Training Total taxes (project life) Extra economic growth of 1% GDP Royalties Employment • 10,000+ in construction • 2,000+ in production • Plus suppliers and contractors Major social benefits New roads and electricity supply

  12. Strong community support * Direct & indirect expenditure Community agreements: • With local government & Indigenous Peoples groups - our long-term development partners 2013 PHP 82M* (US$2M) community development programs: • Community development and infrastructure • Health services (over 12,000 people) • Education (almost 13,000 students) • Livelihood support, skills training Community spend for 2014 – more than PHP 64M (US$1.6M)

  13. Environmental leaders EIA: Environmental Impact Assessment. ECC: Environmental Compliance Certificate. EPEP: Environmental Protection and Enhancement Plan. FMRDP: Final Mine Rehabilitation and Decommissioning Plan • Philippine President’s Award: • 2004, 2006, 2009, 2010, 2011, 2012 and 2013 • Environmental Impact Assessment studies: • EIA completed 2010 • Mine ECC granted and accepted • Environmental management plans: • World-class programs – focus on water and land uses • EPEP and FMRDP ready • Community-based monitoring • Small-scale mining – monitoring the impact

  14. 2014 Work Plan FPIC: The Free Prior Informed Consent process for Indigenous Peoples, lead by the government’s National Council on Indigenous Peoples (NCIP). LGU: Local Government Units including Barangays (Villages), Municipalities and Provinces. MICC: The Mining Industry Coordinating Council. IAWG: The Tampakan Project Inter-Agency Working Group (a committee of the MICC) – both as representatives of the Philippine Government. Glencore resets the project to: • Engage governments to define and agree a pathway to approval and financial investment decision • Focus on 9 issues including FPIC, LGU endorsement, project permitting, land access and titles with MICC and IAWG • Maintain all local community and government relationships and support arrangements, including community development funds • Complete a restructure to reduce project cost and workforce • less than US$10M for 2014 (IRN share approx. US$4M)

  15. MICC and IAWG progress SMI is engaged with the MICC and IAWG, and progress is being made on major project issues: • Project feasibility submissions to be made by end Q2 • LGU endorsement process to start in Q2 • NCIP led and resourced FPIC process to start in Q3 • Project permitting proposal to be submitted • Land access processes to be accelerated through government agencies • Positive signs on open pit mining issue • Complete EIA process for offsite infrastructure (pipeline, powerline, filter plant)

  16. Tampakan – future timeline Offsite infrastructure EIA completed FPIC, LGU, Resettlement, Update FS, Financing, DMF • 2013 • 2019* • 2016 • 2014 • 2015 Mine ECC granted Construction FIRST PRODUCTION • DMF: Declaration of Mining Feasibility . * First production date remains subject to government approvals.

  17. Where to from here? Indophil well funded to pursue the best value outcome…

  18. Thank You For further information please contact: Gavan Collery gavan.collery@indophil.com +61 3 8620 5800 Neil Grimes neil.grimes@indophil.com+61 3 8620 5800 www.indophil.com

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