Established license to operate with multiple discoveries and development opportunities in the world class mining districts of the Philippines.

Transcription

1 Established license to operate with multiple discoveries and development opportunities in the world class mining districts of the Philippines.

2 FORWARD LOOKING STATEMENTS This presentation may contain forward-looking statements including management's assessments of future plans and operations, expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production). QUALIFIED PERSONS Mindoro s exploration programs are prepared and/or designed and carried out under the supervision of Tony Climie, P.Geo., who is a Qualified Person as defined by National Instrument and is a Competent Person as defined by the JORC Code, and who has reviewed and verified the pertinent disclosure of exploration related technical information contained in this news release. Mr. Climie is an executive and a director of Mindoro and is a member of the Alberta Professional Engineers, Geologists and Geophysicists Association. Mr. Climie has more than five years of experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he has undertaken. Mr. Climie has consented to the release of the pertinent exploration related technical information in the form and context in which it appears. Boyd Willis, FAUSIMM, who is a Qualified Person as defined by National Instrument , and a Competent Person as defined by the JORC Code, has reviewed and verified the disclosure of a development nature contained in this news release. Mr. Willis has more than five years of experience which is relevant to the activity which he has undertaken and he has consented to the release of the pertinent development related information in the form and context in which it appears. 2

3 WHY MINDORO?: INVESTMENT HIGHLIGHTS LICENCE TO OPERATE 15 year squeaky clean social and environment track record All nickel and gold resources and emerging Pan de Azucar coppergold-sulphur discovery on granted mining permits EXPERIENCED TEAM Experienced team with discovery and finance track record and development and operating capability GOLD-COPPER PROJECTS Gold and Copper-Gold assets with exploration upside Gold resources at Batangas, 500,000 oz Au, drilling to expand Advancing copper-gold sulphide discovery at Pan de Azucar Copper-gold porphyry prospects to be advanced NICKEL DEVELOPMENT Nickel resources and two stage development plan Resource (95% Measured and Indicated) >450,000t Ni and growing Ideal coastal location, at surface, outstanding metallurgy Scoping studies on early stage Ni-Fe production PFS close to complete on major, low Opex nickel hydromet project DEMONSTRATED VALUE High-grade gold resource growth through drilling, nickel-iron project two stage development plan and copper-gold targeting 3

4 CORPORATE PROFILE CAPITALISATION ($CDN) Exchange & Symbol ASX: MDO, TSX-V: MIO, FFT: OLM Shares outstanding 229m Fully diluted 274m Share price (30/09/11) $0.125 Market capitalisation (30/09/11) $28m Current treasury (30/09/11) $4m SHAREHOLDERS Acorn Capital 15.8% IFC (World Bank) 8.7% Asian Lion Ltd 8.6% Lion Selection 6.4% Directors 3.4% Top % 4

5 BOARD & MANAGEMENT Jon Dugdale Director, President & CEO 25 years exploration/mining and investment Tony Climie Director Exploration & COO 42 years mineral exploration, co-founder of MIO Rob King VP Commercial, CFO & Corp Sec. 25 years financial/commercial, SE Asia, Africa and Canada Rob Garden Chairman 32 years a QC in natural resources law Howard Walker Executive Vice Chairman 36 years in mining, finance and investment Chris de Guingand Director (Non Executive) 50 years commercial and marketing experience Oscar Reyes Director (Non Executive) 38 years in business ex Chairman & CEO Shell Philippines. Doug Frondall Director (Non Executive) 35 years accounting, management consulting. John Tosney Director (Non Executive) 45 years mining engineer and project developer 5

6 PORTFOLIO OF PROJECTS IN KEY MINING DISTRICTS GOLD Batangas Projects (100% economic interest) Archangel (Gold) Lobo (Gold) El Paso, Calo, Talahib (Cu-Au) Didipio Cu-Au (Oceana Const.) MAP KEY Mindoro project Major Deposit Recent major discovery (within last 15 years) Nickel processing plant Fault COPPER-GOLD Pan de Azucar Project (75% economic interest) Valderama massive Cu-Au-S Masbate Gold 200,000oz pa (CGA Mining) NICKEL Agata - Surigao Projects (75% interest, options for 100%) Agata Surigao Nickel Cu-Au Porphyries (American Tunnels, Tapian-SF) Coral Bay Nickel 21,000 Ni tpa (Sumitomo/Nickel Asia) Taganito Nickel Project (Const.) (Sumitomo/Nickel Asia) Co-O Gold 100,000oz pa (Medusa Mining) Tampakan, Cu-Au, BFS (Xtrata/Indophil) 6

7 GOLD AND COPPER-GOLD PROJECTS Established resources with exploration upside 7

8 BATANGAS GOLD PROJECT & PORPHYRY CU-AU TARGETS COPPER-GOLD HIGHLIGHTS MAP KEY Mindoro tenements / applications Crazy Horse Resources Porphyry copper-gold prospects Crazy Horse Resources Taysan Copper Project Resource area Epithermal vein trends Copper showing Historical mine / workings Other prospects El Paso 0 Road 4km N Calo Luzon Talahib Marita Manila LOBO LOBO PROJECT - SW BRECCIA High grade epithermal gold veins; 5km to test NI Resource Estimate Indicated: 270, g/t (56,380 oz) Inferred: 61, g/t (10,540 oz) Sea ARCHANGEL PROJECT, 100% MDO NI Resource Estimate Indicated: 9,879, g/t (337,500 oz) Inferred: 3,741, g/t (97,200 oz) High-grade Intercepts at depth: eg 5.1 g/t Au Mindanao 8

9 BATANGAS, LOBO PROJECT?? Nagtoctoc MAIN GOLD ZONES AND SIGNIFICANT INTERSECTIONS Pica: High grade epithermal veins in hangingwall of: 0.18% Cu/ 0.30 g/t Au/ 1.19 g/t Ag 213m Balisong Crazy Horse Taysan Project TALAHIB PROJECT LOBO PROJECT BATANGAS PROJECTS EL PASO PROJECT ARCHANGEL PROJECT KAY TANDA GOLD RESOURCE? Pica 7.42 g/t Au 12m?? Old Lobo Copper Mine West Drift? Camo At surface, 488 g/t Ag / 1.8% Cu 4.5m 114 g/t Ag / 0.36% Cu 3.5m Sawahan MAP KEY Alluvium Limestone Mineralized and altered volcanics Mineralization shoot Epithermal vein breccia trend Silica cap Hole g/t Au 9.05m Bahayan? Line 10185N Line 10170N Line 10155N SW Breccia Mineral Resource Indicated - 270, g/t Au; 56,380 oz Au Inferred - 61, g/t Au; 10,540 oz Au open to SW and depth Ulupong Gold anomaly in soil Prospect Mine Road River High-Grade shoot target 0 500m N

10 BATANGAS, LOBO PROJECT B' SOUTHWEST BRECCIA LONGITUDINAL PROJECTION B B 170m ASL m TR ,100N 10,125N OC channel LB LB LBDD ,140N TR ,155N LB ,172N LB LB58-11? LB ,185N 10,200N LB LB LB-20 LB LB LB-06 LB LB60-11 LB LB LB63-11? LB LB LB LB ,215N LB LB LB LB LB LB LB LBDD TR OC LB LB61-11 LB63-11 MAP KEY Trench Outcrop Drill hole number Gold grade g/t x true vein width in meter > 50 g/t x m true width Drill hole (2011) Batangas Projects Target (drilling not completed)

11 BATANGAS, LOBO PROJECT SOUTHWEST BRECCIA CROSS SECTION 10155N 10,000E Batangas Projects 160m ASL LB-25 LB58-11 LB g/t 16.3m Proposed Hole LB LB m 40.50m 6.56 g/t 9.05m incl g/t 5.0m MAP KEY Quarternary colluvium Quaternary agglomerate m 43.90m 4.24 g/t 56.2m incl g/t 28.4m 2.14 g/t 9.0m incl g/t 2.0m 20m LB-07 75m Propylitized andesite wallrock (chlorite - clay - pyrite ± quartz ± calcite ± magnetite) Quartz - barite - pyrite breccia vein Quartz - pyrite ± clay alteration Fault gouge Drill hole Mineralized intercept End of hole Gold grade in g/t Thickness of intercept in meter

12 BATANGAS, LOBO PROJECT (SW BRECCIA CROSS SECTION 10172N) GOLD HIGHLIGHTS 180m ASL g/t 6.0m LB-13 LB-07 LB61-11 Trench: 19.1 g/t Au 8.30 g/t 13.3m LB62-11 (in progress) LB-06 LB-05, 04& g/t 17.4m Batangas Projects 140 MAP KEY Quaternary agglomerate m m 85.00m 1.67 g/t 14.0m 9.50 g/t 32.2m 57.30m 52.25m 69.40m 6.30 g/t 8.3m g/t 30.8m 20m LB-07 75m Propylitized andesite wallrock (chlorite - clay - pyrite ± quartz ± calcite ± magnetite) Argillized polymictic breccia Pyritic hydrofractured andesite Quartz - barite - pyrite breccia vein Quartz - pyrite ± clay alteration Clay - pyrite ± alteration Fault gouge Drill hole Mineralized intercept End of hole Gold grade in g/t Thickness of intercept in meter

13 BATANGAS, LOBO PROJECT (SW BRECCIA CROSS SECTION 10185N) GOLD HIGHLIGHTS 10,000E Batangas Projects LB m ASL LB-15 LB-14 LB m 41.50m 6.52 g/t 14.6m g/t 12.05m 5.30 g/t 22.3m MAP KEY Quaternary colluvium Quaternary agglomerate Propylitized andesite wallrock (chlorite - clay - pyrite ± quartz ± calcite ± magnetite) Quartz - barite - pyrite breccia vein Quartz - pyrite ± clay alteration Clay - pyrite ± alteration m 74.60m 0.40 g/t 11.6m 20m LB-07 75m Fault gouge Sheared zone Drill hole Mineralized intercept End of hole Gold grade in g/t Thickness of intercept in meter

14 BATANGAS, ARCHANGEL PROJECT GOLD RESOURCE AND PROSPECTS Bootin Channel % Cu Grab g/t Ag 0.11% Cu Porphyry Copper-Gold target at depth indicated by large IP geophysical anomaly and drilling Channel g/t Au 0.18% Cu Biga Channel 5m@ g/t Ag 0.14% Cu Marita MAP KEY Archangel MPSA boundary Younger cover rocks Extensively altered volcanics intruded by diorite and dacite Advanced argillic zones Resource area Epithermal gold-silver zones Porphyry-related stockworks Vein breccia Ahit Balibago Sea NI Resource Estimate Indicated: 9,879, g/t (337,500 oz) Inferred: 3,741, g/t (97,200 oz) High-grade Intercepts at depth: eg 5.1 g/t Au, 3.5 g/t Au, 4.03 g/t Au Boulder field of mineralized massive silicified rocks Old mine working Copper showing Chargeability Anomalies / Porphyry Targets Strong chargeability anomalies Road Creek 0 1 Km N

15 BATANGAS, KAY TANDA PROJECT (PULANG LUPA CROSS SECTION 9350N) GOLD HIGHLIGHTS 9400E 9500E 9600E 9700E 9800E Batangas Projects 300m ASL PL-22 50m PL-17 60m 1.09 / / / PLDH-01 PL-30 PL-16 51m 1.46 / PL-23 70m PL-31 PL-24 82m 105.2m 1.53 / m 60m PL / / m 0.45 / / KT-07 75m MAP KEY Interpreted mineralization boundaries Quartz - gold basemetal vein Drill hole Mineralized intercept Mineralized intercept (spiky/high grade) End of hole 50m 6.30 / Gold / silver grade in g/t Thickness of intercept in meter

16 PAN DE AZUCAR PROJECT (75%) Massive sulphide copper-gold-sulphur deposit, at surface Metallurgy in progress for Copper-gold leach and sulphur (acid) source 04 Asparin Hill Open at depth 16 Ferraris Hill Pabilona Hill Valderam a Hill Bebs Hill N 27 Mt. Lo-oc PAN DE AZUCAR PROJECT Luzon Manila BATANGAS PROJECTS Mindanao Quaternary alluvium Andesitic flow dome SURIGAO PROJECTS Andesite and dacite tuffs & volcanics Dacitic volcanics & volcaniclastics Interpreted fault Collapsed features / ring faults Creek Valderama zone Dill hole ( ) Drill hole (2011) MPSA boundary Boundary defined from drilling Boundary defined from geophysical and geochemical data Vuggy, leached, quartz alunite altered boulders Dark grey dark red ferruginous boulders Topography MAP KEY 0 200m

17 PAN DE AZUCAR MASSIVE SULPHIDE MINERALIZATION 20,900N LS 21,000N 21,100N 21,200N 21,300N LONGITUDINAL SECTION (LOOKING NW) 21,400N 21,500N 21,600N 21,700N LS' 51.90m m PDA m PDH-05 ) PDA-18 PDA-20 PDA-21 PDA-03 PDA ). M ) M M M 36.8m o 98.0m 94.5m PDA-23 PDA-12 PDA-14. PDA PDA ) M M M M M M ± ± ± ± o 95.55m 95.4m o 111.6m 130.5m??? PDA-27 )? HOLE NO. FROM (m) TO (m) RUN (m) Au g/t Ag g/t Cu % Zn % Sulphur% PDA PDA PDA PDA PDA PDA Including PDA PDA m

18 PORPHYRY COPPER-GOLD: AMERICAN TUNNELS AT-3 Trench 2.3 g/t Au Estrada Tunnel 2.8 g/t Au Pabling Tunnel 2.50 g/t Au Chalcopyrite (copper) veins + Assmicor Tunnel 5.7 g/t Au & 3.1g/t MAP KEY km N

19 PORPHYRY COPPER-GOLD: TAPIAN-SAN FRANCISCO SURIGAO CITY Luzon BATANGAS Manila Mindanao Sea Masapelid PAN DE AZUCAR Masgad TSF PROJECT MINDORO RESOURCES LTD. Porphyry-related alteration, copper-gold showings, geophysical + soil anomalies PHILIPPINE FAULT ZONE Lake Mainit HISTORIC PLACER MINES Epithermal gold and porphyry coppergold mines of MMC Suyoc Mapaso Bayugo Boyungan SILANGAN (Boyongan-Bayugo) Philex Mining, in feasibility Resource contains 5b lbs Cu, 9moz Au SIANA PROJECT Red 5 In construction for 85k oz pa SURIGAO PROJECTS MAP KEY Mindoro tenements Mindanao TSF alteration (hi-temp propylitic, argillic, phyllic, potassic) Major porphyry copper-gold discovery Mindoro porphyry copper-gold prospects Copper-gold / gold mine or significant prospect Other copper-gold or gold prospect Fault N 0 10 km

20 GOLD AND COPPER-GOLD RESOURCE GROWTH PLAN GOLD AND COPPER-GOLD Pan de Azucar Cu-Au drilling Exploratory drilling Metallurgy, Scope Resource Drilling Batangas HG Gold drilling Resource drilling Resource Drilling Porphyry Cu-Au Targets Targeting / Drilling / potential farm-out The company s production objectives are intended to provide an indication of management s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. 20

21 AGATA NICKEL LATERITE PROJECT Development strategy for major integrated processing project 21

22 SURIGAO MINING DISTRICT: KEY PROJECTS AGATA NICKEL (75%, Option 100%) TAPIAN Mindoro tenements / applications Nickel laterite mineralization Nickel laterite mine Recent porphyry copper-gold discovery Porphyry copper-gold prospects Gold mine or prospect Fault Drilled area 0km MAP KEY 10km AGATA RESOURCE Combined Limonite & Saprolite Measured & Indicated 42.7M 1.01% Ni Inferred 2.4M 0.99% Ni (Total 45.2M 1.01% Ni) 10 defined regional targets 5 drilled to date N SURIGAO CITY CANAGA BOLOBOLO Butuan Bay Lake TAPIANMainit AGATA SOUTH KARIHATAG AGATA NORTH SRMI DSO Resource: Sept 11 Horizon ktonnes Ni % Co % Fe % Ni (kt) Meas, Indicated Limonite 13, Saprolite 29, Inferred Limonite Saprolite 1, Total 45, BOYONGAN-BAYUGO Copper-Gold Project Philex TAGANITO Nickel Asia Sumitomo HPAL, in construction Luzon Manila Mindanao Philippine Sea 22

23 A 300m ASL AGATA NICKEL LATERITE CROSS SECTION 8900E 9000E FERRUGINOUS LATERITE 9100E 0.53 / / E 0.69 / E LIMONITE 0.90 / / / / / / / m 200m AGL-146 AGL-500 AGL-142 AGL-499 AGL-140 AGL-498 AGL m 15.1m 25.3m 19.4m 26.8m 22.15m 16m 150m SAPROLITE 1.39 / / / / / / / m AGL-362 Drillhole number 46m Ferruginous Laterite Limonite Boulder Saprolite Saprolitic rock Bedrock End of hole 1.09 / Ni% Fe% Thickness of intercept (m) 50m 50m 0 AGATA NICKEL LATERITE PROJECT Cross Section Line 9550N 23

24 AGATA NICKEL PROJECT DEVELOPMENT OPTIONS STAGE 1: DSO AND THERMALLY UPGRADED SHIPPING ORE DSO and Thermal Upgrading DSO, in demand high iron (>48% Fe) product for steel market. $8m Capex Thermal upgrade scoping study: sintered and magnetic upgrade Ni-Fe product STAGE 2: MAJOR ACID LEACH PROCESSING OPERATION Scoping Study and Preliminary Economic Assessment (March 11): HPAL (lim/sap) - Atmospheric Leach (sap) - Saprolite Neutralisation 1.8m tpa processed;18,000t Ni in intermediate per annum 15 years Capex $906m; Opex <$3/lb; <$2/lb with cobalt and power credits; Cash flow $173m per annum after tax; payback 5 years; NPV(10%) from $10/lb nickel price: $386m; IRR 19% Pre-Feasibility Study (PFS) close to completion at Ausenco (Oct 11) The company s production objectives are intended to provide an indication of management s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. 24

25 AGATA NICKEL PROJECT DEVELOPMENT PLAN AGATA NICKEL PROJECT Preliminary Economic Assessment Nickel Resource Growth Target: ~50% resource increase Stage 1: Test work and Economics Feasibility, Permitting then Construction Stage 1 Stage 2: Pre-feasibility Definitive Feasibility Study, Major Hydrometallurgical Project The company s production objectives are intended to provide an indication of management s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. 25

26 KEY VALUE-DRIVING MILESTONES Milestone Status Timing 1 Metallurgy for Ni Acid-Leach Processing Exceptional Leaching Results Q Direct Shipping Ore Scoping Study and PEA NPV Positive Q Hydromet Project Scoping Study and PEA NPV $10/lb US$390M; IRR 19% Q Nickel Resources Upgrade % Ni (31% increase) Q Thermal Upgrading Scoping Study (S1) Test Results and Scoping Study Q Pre-Feasibility Study, Hydromet Project (S2) In Progress via Ausenco Q Pan de Azucar Cu-Au-S Drilling Metallurgy, Resource Potential Q Archangel and Lobo Gold Drilling High-Grade Structures drilling Q Next Steps: AgataNickel-IronProject Stage 1: Feasibility and Permitting Agat Nickel Project Stage 2: Definitive Feasibility Study Gold and Copper-Gold projects drilling and resource growth - spin out? The company s production objectives are intended to provide an indication of management s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

27 SUMMARY Established licence to operate in the Philippines Outstanding nickel, gold and copper-gold assets Experienced team with discovery, finance track record and development capability High-grade gold copper-gold resource targets drilling Development strategy for two-stage nickel laterite processing project with outstanding metallurgy, infrastructure and locational advantages Demonstrating strong value through gold and copper-gold resource growth and a two stage nickel project development plan ASX: MDO TSXV: MIO FFT: OLM Contact details at