ADMIRALTY RESOURCES NL. — AGM Information 2009

Jun 14, 2009

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NEWS RELEASE

Release Time IMMEDIATE

Date 15 June 2009

AMMENDMENT TO THE PRESENTATION RELEASED AT THE EGM

Please find enclosed a full copy of the presentation released to the ADY shareholders during the EGM held this morning at the Radisson Hotel, 380 William Street, Melbourne.

The Company apologizes for the oversight when submitting the initial copy this morning.

Kind regards,

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John Anderson Executive Director

Further information on Admiralty Resources NL can be found on our Internet site: www.ady.com.au

Australia Investor Relations Tel: +61 3 9642 8787 Email: investors@ady.com.au

Admiralty Resources NL ABN 74 010 195 972 Registered in Australia Registered Office: Level 14, 200 Queen Street Melbourne Victoria 3000 Australia Tel: +61 3 9642 8787 Fax: +61 3 8677 6949

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Admiralty Resources NL ABN 74 010 195 972 Registered in Australia Registered Office: Level 14, 200 Queen Street Melbourne Victoria 3000 Australia Tel: +61 3 9642 8787 Fax: +61 3 8677 6949

CORPORATE STRUCTURE

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ADMIRALTY RESOURCES NL
SUBSIDIARIES
FIVE STAR RESOURCES
FORTUNE GLOBAL INVERSIONES ADMIRALTY PYKE HILL RESOURCES BULMAN RESOURCES ADY INVESTMENTS
HOLDINGS RESOURCES CHILE LIMITADA (currently inactive)
SCM VALLENAR S. B. GRANELES S.A.
IRON COMPANY
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LAST 6 MONTHS IN A NUTSHELL

NOVEMBER 2008

JUNE 2009

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• Increase in company assets and gain smoothness at management level.

• Settlement of all legal issues .

• Reduction of debt:

• A$11.8m to Hawskwood Investments Pty Ltd’s Receivers and A$1.9m owed to private investors

• paid off in December 2008

• Debt of US$12m to Ya Global Investments reduced to US$6.1m

MINING PLAN FOR 2009 & BEYOND

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

VALLENAR IRON’S PROPERTIES AT A GLANCE

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CHILEAN IRON ORE BELT OUR TENURE (11,000 Ha)
Cerro Imán (Santa Fe)
Copiapó
Pampa Tololo
(5,500 Ha)
Manto Negro (Vechiolla)
Boquerón Chañar
(Hostchild, 500 mt)
Los Colorados (CMP, 245 mt)
Las Sosas, Huanteme,
Huasco
Chañar Quemado (CMP, 73 mt) Freirina Vallenar
Vallenar
JAPONESA GROUP
(VIC, 231 MT @ 18% FE)
Japonesa and the mine
operations area
(4,700 Ha)
ARGENTINA
Algarrobo (CMP)
Leo Sur
El Romeral (CMP) (900 Ha)
La Serena
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Geology and Explorations Department - Gerencia de Geología y Exploraciones

PRODUCT SPECIFICATION

The geological composition of the deposit is one of the most concentrated magnetite deposits known to exist.

IRON ORE GEOLOGICAL MAKE UP (%)

•	I (F ) ron e	63 50 .
•	Silica (Si02)	5.00
•	Alumina (Al203 )	1.20
•	Phosphorus (P)	0.07
•	Sulphur (S)	0.01

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

JAPONESA GROUP AEROMAGNETIC SURVEY VIEW

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Chillán Viejo
Viviana JAPONESA MINE
Japonesita
Japonesa Mirador
Primavera
Pit 1
Camp
Pit 2
Mariposa
Plant
Negrita
Soberana
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Geology and Explorations Department - Gerencia de Geología y Exploraciones

IRON MINERAL RESOURCES, SRK (2007)

Cut-off Grade 10%, * 9%

DEPOSIT	INFERRED RESOURCES	INFERRED RESOURCES	INDICATED RESOURCES	INDICATED RESOURCES	TOTAL RESOURCES	TOTAL RESOURCES
	Tonnage	%	Tonnage	%	Tonnage	%
Japonesa *	6,434,700	16.51	41,876,400	13.87	48,311,100	14.22
Japonesita	23,187,195	23.452	39,521,222	16.87	62,708,417	19.30
Mariposa	98,098,146	17.739	70,290,801	18.66	168,388,946	17.95

*5,338,612 tonnes of mineral have been mined from the date that SRK performed the measurement of the resources till October 2008.

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

BUSINESS PLAN

A detailed review of Vallenar Iron’s iron deposits has been undertaken to ascertain n Chile what will it cost for the company to mine these resources.

Mine cost per tonne - Rail cost per tonne - Transport - Operations Loading cost per tonne

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

STRUCTURE OF THE MINE OPERATIONS

MINE OWNERSHIP 100%

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ADY to secure fleet leases over transport, rail equipment and ship loaders including stand-by or portable power units. LEASE

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

STRATEGIC OBJECTIVES

1. MEASURED AND INDICATED RESOURCES

• Japonesita, Mariposa, Primavera and Mirador

• • Validation check of the Geologic Model (Check and re-log of the drill holes, reinterpretation of the geologic profiles, incorporate the magnetic iron and total iron variable in the model)

• Infill program design for each area (availability of drilling companies & costs)

• Drilling program

• Field Geotechnical campaign

• Metallurgical tests (grinding & crushing test, dry & wet magnetic concentration test, microscopic analisys of Fe species)

• New resource estimation (SRK an d i n- h ouse )

• Mineral reserve estimation (mine plan)L SRK, Metalica, or any other third party

2. BROWN FIELD EXPLORATION

• Chillán Viejo, Viviana, Negrita, Soberana, Pampa Tololo

• • Geologic mapping 1:20.000 and 1: 5.000

• • Rock, soil and chip geochemical compilation • Ground mag in the rest of the area

• Interpretation and target definition

• Drilling program

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

DRILLING PROGRAM COST 2009 - 2010

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Geology and Explorations Department - Gerencia de Geología y Exploraciones

FOB PRICE PER TONNE

Based on mining a minimum of 10 years at a conservative production rate of 2,500,000 tonnes per annum

Capital Works	x $1000	Cost per tonne	Comments
RAILWAY UPGRADE	$36,175	$3.15	Rebuild every 5 years
BRIDGES	$600	$0.25	Annualized cost
TRAIN & OFF MINE MOBILES		$5.63	Annualized cost
WHARF	$42,976	$0.50	Annualized cost
SHIPLOADER	$9,378	$0.11	Annualized cost
CAMP	$768	$0.31	Annualized cost
ADMINISTRATION OVERHEADS	$445	$0.18	Annualized cost
PRE-DRILLING STUDIES	$5,100	$0.20	Annualized cost
MINING	$23,317	$9.33	Annualized cost
FUEL & CONSUMABLES		$5.00	Annualized cost
	Total/Tonne Shipped	$US24.66

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Geology and Explorations Department - Gerencia de Geología y Exploraciones