ALARA RESOURCES LIMITED — AGM Information 2011

Nov 3, 2011

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Alara Resources Limited Telephone | +61 8 9214 9787 A.B.N. 27 122 892 719 Facsimile | +61 8 9322 1515 Level 14, The Forrest Centre Web | www.alararesources.com 221 St Georges Terrace Email | info@alararesources.com Perth Western Australia 6000

Friday, 4 November 2011

MARKET ANNOUNCEMENT

Presentation at 2011 AGM

Alara Resources Limited is pleased to attach a copy of a presentation to be delivered at the Company’s 2011 Annual General Meeting.

Further information:

Shanker Madan Managing Director T | + 61 8 9214 9787 E | smadan@alararesources.com

NOTE:

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves has been compiled by Mr Hem Shanker Madan who is a Member of The Australian Institute of Mining and Metallurgy. Mr Madan is the Managing Director of Alara Resources Limited. Mr Madan 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 Mineral Resources and Ore Reserves (the JORC Code).” Mr Madan consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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ASX Code | AUQ

Alara Resources Limited

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2011 Annual General Meeting 4 November 2011

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ASX: AUQ

www.alararesources.com www.alararesources.com

Presentation at 2011 AGM

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1. INTRODUCTION

• The Company: Management, Structure and Share Price Performance

• SAUDI ARABIA

• Khnaiguiyah: Targeting DFS completion Q1 2012

• • M ar an: ew concess ons near N i b Kh i i h j y na gu ya

• 1. OMAN

• Daris and Awtad: Helicopter-borne VTEM Survey completed

• 4 . CHILE

• El Quillay: Planning, geophysics and mapping program

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Introduction

2

Company Profile

	Directors
	• 40+years miningexperience
	Ian Williams AO Chairman • Hamersley Iron, Rio Tinto, Century Zinc & Pasminco • Awarded Order of Australia for services to Indigenous communities • 35+ ii idt i
	years mnng nusry experence Shanker Madan Managing Director • BHP, Rio Tinto & Hamersley Iron • 35+ years mining industry and capital markets advisoryexperience
	D St t oug ewar • Territory Iron, Teck Corporation, NM Rothschild and Sons, Australia Farooq Khan • 20+ years capital markets experience • Management of ASX-listed companies
	C t l b k d • orpora e aw ac groun William Johnson • 20+ years experience in senior management and executive roles in public companies in Australia, New Zealand and SEAsia
	. .
	General Manager, Projects
	Eduardo Valenzuela • 30+ years experience in mine operations, project management,technical services
	and project financing

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	Stock
	ASX Code Market Cap (3 November 2011) Issued Capital	AUQ $ 63.1M
	- Shares	210.5M
	- Options Cash (30 September 2011)	42 2M . $ 29M

Top Shareholders

	Colonial	13.8%
	Aviva	10.0%
	Northcape	9.0%
	Kinetic Contango	7.4% 5.7%

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Introduction 3

Pipeline

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Alara has a strong pipeline of base metal development projects

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Design /
Exploration Feasibility Production
Construction
Historical non-JORC compliant estimated Saudi Arabia: Khnaiguiyah
mineralisation as reported in ASX market Zinc, Copper (Alara 50%)
announcement dated “ Project Acquisition – Khnaiguiyah 5 October 2010: ” Zinc •• Feasibility studies completed JORC d r illi ng an d DFS un d erway
Copper Project in Saudi Arabia • DFS to be completed Q1 2012
Oman: Daris • Oxide and sulphide copper-gold mineralisation reported in historic drilling has been confirmed
Copper, Gold (Alara 50-70+%) • Massive sulphide deposits have been intersected in the current round of drilling. Deposits still open
• Preliminary drilling by Alara (25 holes) points to copper at de p th and further west
sulphide and oxide mineralisation at shallow depths • Further drilling programme ongoing
• Potential for early production • 26 VTEM targets identified. Ground IP geophysical survey in progress
Oman: Awtad • Prospectivity analysis completed
Copper, Gold (Alara 51-70+%) • Drill targets identified from VTEM survey
• • Ground IP geophysical survey in progress
Adjacent to Daris concession
Saudi Arabia: Marjan
Gold, Silver, Zinc, Copper (Alara 50%)
• Programme of trenching and geophysical surveys planned
• Historical drilling shows prospectivity for
gold , silver , zinc , copper
Chile: El Quillay
Copper, Gold (Alara 70%)
• Extensive surface and old mine working • Planning for mapping and geophysics survey during 2011,
sampling points to the presence of a followed by 10,000m drilling
s gn i ifi can copper sys em w t t ith ou cropp ng t i
mineralisation
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Introduction 4
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Saudi Arabia Operations

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

5

Saudi Arabia: The Khnaiguiyah Project

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The Khnaiguiyah Project comprises a Mining Licence (granted), 2 Exploration Licences and 5 Exploration Licence Applications covering 380 sq. km

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Recent drilling validates historic results and shows potential for additional zinc and copper mineralisation.

Results summarised in Slide 15.

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

6

Previous Studies

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Previous Khnaiguiyah studies have confirmed the potential for commercial development of the project

• Historical non-JORC compliant estimate[2] as reported in Alara ASX market announcement dated 5 October 20101)

• ’

• • Th e PF S ( 1 990 s) in d i cates t h e p r oject w as co mm e r c i a ll y vi ab l e at a p ri ce assu m pt i o n f o r Zin c o f US$ 1 , 2 00 per tonne – considerably lower than today’s price of ~USD$1,900 per tonne[3]

• Mineralised Zones 1, 2 and 4 may be mined by open cut method and Zone 3 may be mined partly by open cut and the rest by underground methods

• Fresh water is available in a large aquifer at Kuff 25km away

• 33KVA power line is available on site

• Direct sealed road access

• 1 Refer: Alara ASX market announcement dated 5 October 2010 and entitled “Project Acquisition - Khnaiguiyah Zinc Copper Project in Saudi Arabia”

• 2 Source: BRGM Geoscientists 1993, Khnaiguiyah Zinc- Copper deposit – pre-feasibility study – 1,2 and 3, Saudi Arabian Directorate General of Mineral Resources Technical Report BRGM TR 13 - 4 , 651p , 209 figs , 171 tables , 78 appendices and 23 photo plates

• 3 LME Zinc cash price as at 3 November 2011 (http://www.lme.com/zinc.asp)

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

7

Previous Work and Studies

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Alara’s Definitive Feasibility Study (DFS) scheduled for completion in Q1 2012 is building on a considerable amount of previous work

• Exploration and Pre-feasibility Study conducted by BRGM and further studies conducted by Manajem (the Vendor) include the following works:

• T ota l d rillin g in e x cess o f 4 5,000 m in 3 4 5 co r e a n d pe r cuss i o n h o l es, ac r oss f ou r min e r a li sed z o n es within 3km[2]

• BRGM completed 25,193m of percussion and core drilling in 192 drill holes on profiles 100m x 25m / 50m

• Additional infill drilling on profiles 50m x 25m / 12.5m grid spacing confirms the structure and the mineralisation (Manajem in-house feasibility study)

• Other works done include two deep shafts for bulk sample , test work on a 15t bulk sample , pit design and financial modelling

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

8

Access, Camp and Drilling Activities

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The Khnaiguiyah Zinc-Copper Project has excellent road power and camp infrastructure

Two hours from Riyadh on the - Riyadh Jeddah Highway

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

9

Alara Board visits Khnaiguiyah

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Alara Board Core
members at the examination at
Khnaiguiyah Khnaiguiyah
core yard Zone 3 drill site
High grade zinc Drill Hole core
and copper from Zone 3
intersections in showing
Drill Hole chalcopyrite
K3DD11_032 at veins
Zone 3
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Khnaiguiyah 10
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Mineralisation

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Mineralisation in Zone 2 is flat lying and shallow
Copper grade
Zinc grade
Mineralised body
Hanging wall / footwall
Section 9
Section 11 Section 15
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Khnaiguiyah 11
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Mineralisation

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Recent drilling aimed at copper mineralisation and strike extensions A stacked 3D model of Mineralised Zone 2 shows the flat and shallow disposition of the mineralisation

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Zinc
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opper
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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah 12

Mineralisation

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Mineralisation is thick, high grade, open and has good continuity Mineralised Zone 3 is thicker and close to the surface on the east limb but generally Copper rich and towards the west

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Copper grade
Section 12
Zinc grade
Section 8
Mineralised body
Hanging wall / footwall
Section 23
Section 15
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Khnaiguiyah 13
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Mineralisation

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Structural continuity demonstrated A stacked 3D model of Mineralised Zone 3 shows structural continuity

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2% Zinc
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Khnaiguiyah 14
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Progress

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Highlights of recent drilling

Alara has completed 18,800m in 140 drill holes since February 2011.

• Assay results from recently completed drill holes in Zone 3 continue to correlate with historic holes , confirming historically reported high grade zinc-copper mineralisation:

K3DD11_022

• 7m @ 5.45% Zn and 0.22% Cu from 107m

• 21m @ 2.32% Cu from 132m

K3DD11_028

• 21m @ 10.18% Zn and 0.58% Cu from 18m

K3DD11_030

• 54m @ 8.33% Zn and 0.39% Cu from 82m, including 9m @ 20.19 % Zn and 1.52 % Cu

• 13m @ 7.39% Zn and 1.27% Cu from 168m, including 6m @ 2.06 % Cu

K3DD11_031

• 9m @ 8.68% Zn and 0.47% Cu from 155m, including 6m @ 11.75 % Zn and 0.59 % Cu

K3DD11_032

• 65m @ 9.86% Zn and 1.24% Cu from 122m, including 12m @ 15.31 % Zn and 3.09 % Cu

K3DD11_035

• 35m @ 7.65 % Zn and 0.18 % Cu from 84m, including 3m @ 38.6 % Zn and 0.87 % Cu

• • 21m @ 7 . 03 % Zn and 0 . 16 % Cu from 125m , including 1m @ 44 . 4 % Zn and 0 . 78 % Cu

K3DD11_039

• 84 m @ 13.3 % Zn and 0.39 % Cu from 71m, including 19m @ 30.39 % Zn and 0.95 % Cu

K3DD11_067

• 37m @ 1.92% Cu from 28m

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

15

DFS Completion

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Alara is targeting completion of Khnaiguiyah DFS in Q1 2012

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2010 2011 2012
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
 Finalise formal JV agreements 
 Establish office in Riyadh 
 Obtain Mining Licence 
 Obtain Environmental permit
Drill, assay, density validation, metallurgical
 
sample and Geotech holes
U pgra d e non- JORC C o d e comp li an es t ti ma ti on

to JORC standard
Mine design, optimisation and scheduling

studies
Complete definitive test work on representative
samples from new core holes in Mineralised

Zones 2 and 3 (includes regrind and floatation to
improve recoveries)
 Make changes to plant design as necessary
 Secure water supply for the project
Obtain quotes for plant, infrastructure and

machinery
 Complete financial modelling
 Complete definitive feasibility design
Commenced  Completed
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Khnaiguiyah 16
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Khnaiguiyah

DFS Progress

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Highlights of Metallurgical Test Work

• Initial locked c y cle flotation test work results from the metallur g ical test-work p ro g ram , on Zone 2 master composite, based on a relatively coarse primary grind product size of P80 < 106μm, delivered recoveries of 87% for Cu and 91.5% for Zn, at concentrate grades of around 30% for Cu and 57% for Zn.

• Commination data shows moderate hardness of the order of 14kWh/t energy requirement during grinding.

• It is anticipated that in the next few weeks grinding and flotation process design criteria will be delivered to Ausenco Engineering thereby commencing the plant process design process .

Highlights of Environmental Studies

• 17 species of birds and 16 species of reptiles were found but none of the species are endangered. The area is not part of a wild life sanctuary.

• 44 species of flora were found but none is rare or endangered

• .

• There are no rehabilitation issues and the Project is seen as positive for the region.

• Sterilisation of tailings dam is complete. No mineralisation was found in the selected area.

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

17

DFS Progress

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Resource Modelling and Mining Studies

• QA / QC of historic data has taken lon g er than envisa g ed but to date the results are encoura g in g and BRGM data is well documented. Distribution of Ma'aden data matches very well with the 2011 data from recent drilling.

• Interpretation of Zone 2 has been completed and has been handed over to the mining engineers for Mining Studies.

Highlights of Hydrological, Geotechnical and Transportation Studies

• Mine water drilling has commenced and drilling completed to date shows mine water is unlikely to be an issue.

• All geotechnical drilling has been completed. Logging is in progress . Rocks appear to be hard and quite competent.

• Infrastructure and transportation studies have commenced. Both rail road transport options for transporting concentrate are being considered.

Highlights of water resource

• Land has been purchased to source water supply for the project. Geophysical survey is in progress. D r illi ng or wa er an f t d pump es s are p anne t t l d .

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Khnaiguiyah

18

Preliminary Plant Flow Sheet

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Khnaiguiyah 19
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Oman: Daris Project

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The Daris Project is located in a region with several examples of VMS Copper Deposits in the Oman Ophiolites and a nearby Copper Smelter

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011 Daris
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20

Targets

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Alara is targeting discovery and development of Copper-Gold in Oman

Alara has completed 4,700m of drilling in the project area. Assay results received to date:

• 17 . 20m at 8 . 05% copper , as copper sulphides and 2 . 67 g/t gold , from 51 . 50m including several intersections between 10% to 14.7% copper (D3DC003)

• 11.90m at 5.74% copper, as copper sulphides from 34.35m (D3DC002)

• 3.45m at 10.28% copper (including 1m at 16.0% copper), as copper sulphides from 50.60m (D3DC002)

• 17 . 85 m a t 2 . 61 g /t go ld f rom 28 . 40 m (D3DC002)

• 3.45m at 3.10 g/t gold from 50.60m (D3DC002)

• 6.10m at 5.81% copper, as copper sulphides from 31.55m (D3DC001)

• 18.65m at 3.80 g/t gold from 19.0m(D3DC001)

• 4m at 5.33% copper as copper sulphides and 0.41g/t gold from 34m including 1m at 6.46% copper from 34m; 7m at 2.45% copper as copper sulphides and 0.25g/t Gold from 38m (DERO009)

• 23m at 1.23% copper as copper oxide from 7m, including 1m at 2.7% copper from 17m (DERO006)

• 8m at 1.26% copper as copper oxide from 28m; 8m at 2.88g/t gold from 1m, including 1m at 12.4 g/t from 4m (DERO004)

• 7.25m at 4.08% copper as copper sulphides from 49.95m in DEDC005

• 4.4m at 2.02% copper as copper sulphides from 51.6m in DEDC006

• 2.85m at 4.55% copper as copper sulphides from 30.65m in DEDC007

• Drilling has expanded sulphide mineralisation at Daris East; further drilling results are expected in early to mid November.

• Helicopter-borne VTEM geophysical survey outlined 26 anomalies. Ground survey has confirmed new conductors. A detailed IP survey has been completed.

• Concurrently the Company is in the process of finalising further acquisitions in Oman with a view to rapidly building a critical mass.

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

Daris 21

Daris East: Block 7

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Recent Drilling

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© Alara Resources Limited www.alararesources.com Investor Update – November 2011
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Daris

22

Mineralisation

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A helicopter-borne VTEM survey has been completed over Daris and the adjoining Awtad areas. New targets have been identified

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• Drilling has been completed.

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• VTEM survey and reconnaissance has confirmed 26 new co n ducto r s .

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• Drilling has been completed on one conductor , awaiting results.

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• Reconnaissance and IP survey on some of the remaining conductors is ongoing.

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ongoing.
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© Alara Resources Limited www.alararesources.com Investor Update – November 2011
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Daris 23

Targets

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In Chile, Alara is targeting Copper-Gold prospects in an area with extensive previous workings and walk up drill targets

• Final agreements have been executed in relation to Alara’s acquisition of a 70% interest in the El Quillay Copper-Gold Project, which paves the way for commencement of formal works in advancing this project.

• Fiv e Coppe r , Coppe r- Go l d a n d Coppe r M o l ybde n u m I OCG type a n d po r p h y r y p r ospects .

• Deep workings along a 6km strike are located along a major fault system in andesitic lavas and in diorite

• Target mineralisation potential[1] :

• 8 to 10Mt of oxide cap at 0.7% to 1.00% Copper to 30m depth, and 20Mt to 40Mt+ at 1.5% Copper equivalent as Copper Sulphides, Gold and Silver below oxide cap (based on surface widths and projections) (“ El Quillay ” Prospect)

• 30Mt to 60Mt at 0.7% to 0.8% Copper equivalent in breccia pipes and porphyry (based on two drill

• holes, one of which intersected 180m at 0.70% Copper and up to 200ppm Molybdenum) (“ Lana and Corina” prospect)

• Al ara s earn ng a i i 70% i n eres over t t th ree years.

• Technical and legal due diligence completed

1. The potential quantity and grade of the target mineralisation of Copper equivalent is conceptual in nature, based on 500+ surface samples conducted by the vendor’s '

geologist and a representative portion of which has since validated by Alara s consultants . There has been insufficient exploration to define a mineral resource in relation to that target mineralisation of Copper equivalent in Copper and Gold. It is uncertain if further exploration will result in the determination of a mineral resource in relation to that target mineralisation of Copper equivalent in Copper and Gold.

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

El Quillay 24

Prospects

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In the “El Quillay” Prospect, numerous workings exist over 1km strike and up to 85m depth. Outcrops and workings have been extensively sampled

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Recent decline
Main workings
Shaft and dump
This hill is largely
covered by oxide cap
A half spiral decline dug in 2008 is
wide enough to take regular trucks
and loaders to sulphide
mineralisation below the oxide cap
which covers most of the hill
Decline Entrance
© Alara Resources Limited www.alararesources.com Investor Update – November 2011 El Quillay 25
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Prospects

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At “Lana and Corina” Prospect, significant drill intersections confirm the prospectivity of breccia pipes, with porphyry below

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Lana-Corina Project Area Geology Plan

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Lana-Corina Project Area Cross

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Two drill holes intersected 180m and 130m of mineralisation respectively, at 0.70% Copper and up to 200ppm Molybdenum

© Alara Resources Limited www.alararesources.com Investor Update – November 2011

El Quillay 26

Alara Resources Limited

ABN: 27 122 892 719

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ASX Code: AUQ

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Level 14, The Forrest Centre 221 St Georges Terrace Perth, Western Australia 6000

Telephone: +61 8 9214 9787 Facsimile: +61 8 9322 1515 i n o f a araresources.com l @ www.alararesources.com

DISCLAIMER

This presentation contains certain forecasts and forward-looking information including possible or assumed future performance, costs, production levels or rates, prices, reserves and resources or potential growth of Alara Resources Limited, industry growth or other trend projections. Such forecasts and information are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors, many of which are beyond the control of Alara Resources Limited. Actual results and developments may differ materially from those expressed or implied by these forward- l oo ki ng s a emen s t t t d epen di ng on a var e y i t o f f ac ors. t N o thi ng i n thi s presen a t ti on s h ou ld b e cons rue t d as e ith er an o ff er t o se ll or a so li c it a ti on o f an offer to buy or sell securities.

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