The Lake Eyre Basin a Kazakh Analogue?

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Douglas Joseph
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1 The Lake Eyre Basin a Kazakh Analogue?

2 Legal Disclaimer This presentation has been prepared by T C Development Corporation Pty Ltd and Crescent Gold Ltd. The information contained in this presentation is of a general nature only and does not constitute an offer to issue, or to arrange and issue, of securities or financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making any investment decision. This presentation has been prepared edwithout taking into account the investment e t objectives, es, financial a situation or particular needs of any particular person. Before making an investment decision on the basis of this presentation, the investor needs to consider, with or without the assistance of a financial advisor, whether the investment is appropriate with due regard for their particular investment needs, objectives and financial circumstances. This presentation is based on internal company reports and technical information that is deemed to be reliable. To the maximum extent permitted by law, none of the T C Development Pty Ltd or Crescent Gold Ltd directors, employees or agents, nor any other persons accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation nor is in any obligation assumed to update such information. In particular, no representation or warranty, expressed or implied, is provided as to its accuracy, completeness or currency of the information contained in this presentation. T C Development Corporation and Crescent Gold accept no obligation to correct or update the information or opinions expressed within it. Opinions expressed are subject to change without notice and reflect the views of T C Development and Crescent Gold at the time of presenting. The information in this presentation that is related to the exploration results of the Sturt Joint Venture Uranium Project is based on information compiled and/or approved by Mr. Tony Mason, who is a Member of the Australasian Institute of Mining and Metallurgy and registered in the field of uranium reporting and resource estimation. Tony Mason has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Tony Mason consents to the inclusion in this presentation of matters based on his information for and in the context in which it appears. Tony Mason is an independent consultant.

3 Executive Summary The Sturt Joint Venture is a South Australian focussed Uranium Exploration Joint Venture with a large tenement area over the Lake Eyre Basin Primary target is Kazakhstan style Uranium mineralisation in the Eyre Formation Secondary target is Uranium mineralisation in the Namba Formation Early stage of activities but good success to date

4 Sturt Joint Venture Structure TC Development Corporation P/L Principal Business The Management of the Sturt JV Privately owned & experienced in successful Project Development. Owns Sturt JV Tenements and IP. Cesce Crescent tgod Gold Limited Principal Business Gold Production and Mineral Exploration ASX and TSX listed. Uranium West Limited Wholly owned subsidiary of Crescent Gold Limitedit Sturt Joint Venture Principal Business Uranium Exploration Managed by TC Development Corporation. Crescent to earn 50% through A$16m spend over 4 years. As of June 2009 expenditure incurred > A$4m and Crescent has earned 12.5%.

5 Australian Uranium Deposits & Prospects SJV Australia s Uranium Resources, Geology & Development of Deposits. A D McKay & Y Miezitis. AGSO 2007

path Mt Painter Inlier Mt Gee Willyama Supergroup Beverley

6 Uranium Depositional Environment South Central Australia Lake Eyre Basin Innamincka Moomba Four Mile U transport path Mt Painter Inlier Mt Gee Willyama Supergroup Beverley Olympic Dam Goulds Dam Oban Crockers Well Radium Hill Honeymoon

7 The Exploration Model and Target PRIMARY TARGET Large Kazakhstan Style Uranium Deposits In Lake Eyre Basin sediments within the Sturt Joint Venture previously untested Exploration Tenements Kazakhstan Uranium Deposits are characterised as being; b i Young sedimentary roll-front (Redox) style orebodies Very large on a world scale with an estimated 1,334,300 tonnes of contained U 3 O 8 (Frome Embayment contains approximately 41,000 tonnes of U 3 O 8 ) Multiple and stratigraphically stacked orebodies, distal from their Uranium source rocks Associated with underlying Hydrocarbon deposits that are possible (H 2 S & CH 4 ) reductant sources for Redox Uranium mineralisation development Shallow and readily amenable to low cost in-situ leaching methods (ISL)

8 Resource Size Comparison with Kazakhstan Deposit Roll Front Uranium Deposits by Region Estimated Total Uranium Resources Tonnes U 3 O 8 Kazakhstan Chu-Saryssu and Syrdarya Basins 1,334,300 Powder River Basin-USA 54,000 Frome Embayment Australia 41,000 Amadeus Basin Australia 10,250 Ngalia Basin Australia 4, Compared with: Olympic Dam IOCGU Deposit Approx 2,230,000

9 Kazakhstan Uranium Deposit Cretaceous and Cainozoic sediments Palaeozoic shale, sandstone limestone Uranium orebodies (projected to surface) Palaeogene sands Upper Cretaceous - upper sands Upper Cretaceous middle sands City/Town Uranium refinery Uranium Mine Hydrocarbon Region Gas Field 200 km Sandstone-hosted Uranium Deposits and ISL Mining in Kazakhstan. A McKay Geoscience Australia.

10 The Palaeogeography g of our Lake Eyre Basin Tenements A proven Uranium source plus Uranium mobilisation and entrapment mechanisms

11 Eyre Formation Early to Middle Eocene Deposition During this period: Moomba Uraniferous sediments were eroded from the uplifting U-rich Northern Flinders Ranges to the South of the Basin, in a high energy fluvial environment Subsidence created a terrestrial depo-centre in the Moomba region Any uraniferous sediments became trapped in this terrestrial depo-centre Flinders Ranges Geological History and Palaeoclimate. MC Benbow, NF Alley, RA Callen & DR Greenwood. The geology of South Australia Vol.2 SA Mines & Energy

12 Namba Formation Late Oligocene to Late Miocene Deposition Moomba During this period: The formation of extensive shallow lakes in the Moomba region with low energy, pluvial, deposition Uraniferous sediments were sourced from the uranium rich basement rocks to the South and NE Incoming I i uranium i rich i h sediments di t became b trapped in these depo-centres Flinders Ranges Geological History and Palaeoclimate. MC Benbow, NF Alley, RA Callen & DR Greenwood. The geology of South Australia Vol.2 SA Mines & Energy

Sturt JV Uranium Prospect Model Mt Painter Four Mile Tabular Ore Bodies Beverley Moomba Gas Field Deina Prospect Big Lake Prospect Bow Prospect Oxidised waters carrying dissolved Uranium H2S & CH4

13 Sturt JV Uranium Prospect Model Mt Painter Four Mile Tabular Ore Bodies Beverley Moomba Gas Field Deina Prospect Big Lake Prospect Bow Prospect Oxidised waters carrying dissolved Uranium H2S & CH4 Hydrocarbon Leakage Model Methane Gas escaping upward Roll-Front Ore Bodies Reference for model diagram: Sandstone Uranium Deposits Associated with Hydrocarbon-Bearing Basins: Implications for Uranium Exploration in Australia ; S Jaireth, A McKay & I Lambert; 2008 Geoscience Australia.

14 SRTM Digital Elevation Model with Eyre Formation Depo-centre Indicators Innamincka Moomba Bow Big Lake Mt Gee Four Mile Beverley

Sturt JV Uranium Prospect Model Mt Painter Four Mile Tabular Ore Bodies Beverley

carrying dissolved Uranium H2S & CH4 Hydrocarbon Leakage Model Methane Gas

Uranium Deposits Associated with Hydrocarbon-Bearing Basins: Implications for

15 Sturt JV Uranium Prospect Model Mt Painter Four Mile Tabular Ore Bodies Beverley Moomba Gas Field Deina Prospect Big Lake Prospect Bow Prospect Oxidised waters carrying dissolved Uranium H2S & CH4 Hydrocarbon Leakage Model Methane Gas escaping upward Roll-Front Ore Bodies Reference for model diagram: Sandstone Uranium Deposits Associated with Hydrocarbon-Bearing Basins: Implications for Uranium Exploration in Australia ; S Jaireth, A McKay & I Lambert; 2008 Geoscience Australia.

16 Exploration Success To Date SJV Tenement Holdings of 21,471 km 2 in South Australia Over 16,777 m and 116 holes drilled ,294m and 25 holes drilled Exploration concept has been proven where - historic gamma anomalies have been verified, suitable geology & geochemistry identified and anomalous U 3 O 8 drill intercepts have been proven in several prospects tested to-date date. Significant U 3 O 8 Intersections Hole From (m) To (m) ppm U3O8 Interval (m) BL BL BL BL BL (eu ) 1 D

17 Big Lake Section 8 S N 50 m 270 ppm U3O8 110 ppm U3O8 100 m

18 Mineralized REDOX Contacts Oxidised sand Reduced clay 87m Above: Mineralised Redox boundary BLD084 Below: Oxidised sand and clay above Redox boundary Oxidised sand

19 2010 Exploration Programme 2010 Exploration Programme Objectives Our primary objective is to isolate and define extensive Kazakh style redox generated uranium mineralisation within Eyre Formation sands targets. Our secondary objective is to follow up newly identified Our secondary objective is to follow up newly identified Namba hosted mineralisation of >.02 per cent U 3 O 8 at several prospects and isolate and define related economic redox generated Uranium mineralisation in our Namba Formation sand targets.

20 Summary Summary Real Potential for the Discovery of Large Kazakhstan Style Uranium Deposits because: A similar geological environment to Kazakhstan including; the proximity of highly uraniferous source rocks similar sedimentary basin structure and hydraulic flow regime suitable host sediment lithologies, depositional environment and age underlying hydrocarbon resources as a possible reductant source Early exploration results have already shown anomalous Uranium mineralisation Many more untested prospective targets Ongoing and substantial exploration commitment

21 Sturt Joint Venture Explorers Conference Presentation November 2009

AGM Presentation 6 November 2012

AGM Presentation 6 November 2012 November 2012 Disclaimer Exploration Results and Mineral Resources The information in this report that relates to Exploration Results, Exploration Targets, Mineral Resources