ALCHEMY RESOURCES LIMITED — AGM Information 2009

Nov 19, 2009

Alchemy Resources Limited

Annual General Meeting Presentation 20 November 2009

Highlights

High calibre management team retained in preparation for 2010

Strong Project Pipeline Hermes Gold, Wilgeena, Magnus Copper/Gold and Murchison Gold Projects

Drilling at Hermes Gold Project continues to expand the area of gold mineralisation

Hermes Gold Project flora and fauna studies completed

Share placement to raise $2.5 million completed

MoU signed between Alchemy and Barrick for processing of Hermes gold ore at the Plutonic processing plant

Company Overview

Listed on ASX - 26 November 2007	Code: ALY
Shares on issue	64,462,258
Options ($0.25 or more)	31,692,842
Share Price (19 November 2009)	$0.95
Market Capitalisation (undiluted)	~$61,240,000
Cash at Bank (30 September 2009)	$3,850,000

Market Capitalisation

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Market Cap Share Price
1.30 100
1.20
Magnus Exploration Commences 90
1.10
80
1.00
0.90 70
0.80
60
Share Placement Finalised
0.70
50
0.60
40
0.50
Initial Drilling Results
0.40 30
from Hermes
0.30
20
0.20
10
0.10
0.00 0
A$ per share
Market Cap - A$M
Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09
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Company Milestones

August 2007 Acquired Murchison Projects from Jindalee Resources November 2007 ASX Listing

November 2007 March 2008 July 2008

due diligence on Three Rivers Project

Acquired Three Rivers Project from Troy Resources 131,000oz Au JORC resource (Hermes Gold Project) First drilling at Murchison Projects

February 2009

May 2009

First drilling and new discovery at Hermes Gold Project 5m @ 34.0g/t Au at Trapper West 8m @ 10.3g/t Au beneath Trapper deposit

October 2009

Second drilling and discoveries at Hermes Gold Project 19m @ 10.78g/t Au at Blake 29m @ 2.26g/t Au at Winchester

Our People – Directors and Management

Warwick Davies – Non-Executive Chairman

Industrial Chemist - Marketing Consultant with over 40 years experience in the iron and steel industry.

Robert Downey – Non-Executive Director

Lawyer with extensive experience in the area of corporate law, initial public offerings, other equity raisings, mergers and acquisitions.

John Arbuckle – Non-Executive Director and Company Secretary

Accountant with extensive experience in the mining industry in Australia and overseas. Previously held senior financial management roles with Rio Tinto Limited, North Limited, Anaconda Nickel Limited, Perilya Ltd and Mt Gibson Iron Ltd.

Michael Hannington – Managing Director

Broad experience in the mining industry including 12 years as a geophysicist and 5 years as a lawyer and contracts manager. Previously held commercial role with Oxiana Limited.

Lyndon Hopkins – Project Development Manager

Geologist with over 20 years experience in Australia and Africa with Equigold NL. Demonstrated ability to develop profitable gold mining projects with Equigold from drill out to production

Kevin Cassidy – Exploration Manager

Internationally recognised expert in the exploration for gold deposits. Lead research scientist with Geoscience Australia.

How did we do it ?

How did we turn a $10M company into a $60M company in 2 years

15 of 26 RC holes drilled at Hermes have intersected significant gold values $1 spent on drilling = >$1 value of gold in the ground

Drilling Cost July 2008 131,000oz Au – paid $10 per resource oz Au February 2009 $81K First drilling at Murchison Projects - shallow aircore May 2009 $159K First drilling and new discovery at Hermes Gold Project 5m @ 34.0g/t Au at Trapper West 8m @ 10.3g/t Au beneath Trapper deposit

October 2009 $161K Second drilling and discoveries at Hermes Gold Project 19m @ 10.78g/t Au at Blake

Expansion of Three Rivers Project

What we started with: Three Rivers Project

Hawkeye and Trapper Gold Deposits 131,000oz Au resource

What we have now: Three Rivers Project

Hermes Gold Project

Magnus Copper/Gold Project Wilgeena Mining Centre Greater Three Rivers Gold Project Robinson Range Iron Ore

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Three Rivers Project
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Hawkeye and Trapper Gold Deposits – a good start

Hermes Gold Project - Drilling

Hermes Gold Project what we discovered

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Magnus Copper/Gold Project
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Magnus Copper/Gold Project Felsic volcanic centre – siliceous rhyolite with cubic or rhombic pits bleached or acid-altered

Wilgeena Mining Centre what lies beneath?

Greater Three Rivers Gold Project Simply follow up every gold in soil anomaly

Robinson Range Iron Ore

Developing Projects in 2010

What we started with: Three Rivers Project

Hawkeye and Trapper Gold Deposits 131,000oz Au resource

What we have now: Three Rivers Project

Hermes Gold Project

Magnus Copper/Gold Project Wilgeena Mining Centre Greater Three Rivers Gold Project Robinson Range Iron Ore

Murchison Projects

Funding from Government to undertake drilling on Project areas

3D model of entire District Drilling in December 2009 at Gidgee and Big Bell North

Gidgee

7 RC holes targetting: Pronounced bend in regional shear zone Large discrete magnetic high

Gold, arsenic, tungsten, cesium, and molybdenum anomaly

Gidgee

Aeromagnetic Image 7 RC holes – 1400m of drilling all up cost $98,000

$25,000 paid by WA Government via Exploration Incentive Scheme

Big Bell North

75 AC holes – 6000m of drilling Follow up RC drilling

Big Bell North

Field mapping and AC drilling in February 2009 has defined an altered wedge of rocks

Murchison Projects Gidgee and Big Bell North Wydgee Ninden Hill Jeffery Well Polelle

Wydgee 8 RC holes targetting: Mustang Sally

coincident Gold, arsenic, copper and antimony anomaly

Ninden Hill

Surface geological mapping

Integrate into 3D model

Drill Test

Gold nuggets recovered by prospectors at surface

Jeffery Well Surface geological mapping Integrate into 3D model Drill Test

Polelle

Surface geological mapping Soil Sampling

Integrate into 3D model

Drill Test

3D Model of the entire Murchison District

3D model targeting at the Polelle Project

The Projects

Murchison Gold Projects

Three Rivers Projects

Gidgee Ninden Hill Polelle

Big Bell North Gidgee Wydgee Jeffery Well Polelle Hermes Gold Project Magnus Copper/Gold Project Wilgeena Mining Centre Greater Three Rivers Gold Project Robinson Range Iron Ore

How do we keep on doing it ?

How do keep increasing shareholder value ?

Get 150 of 260 RC holes drilled at Hermes to intersect significant gold values again $1 spent on drilling = >$1 value of gold in the ground

Get 9% of company cash spent at Magnus Copper/Gold Project on a VTEM survey to return multiples of company cash through discovery

Develop Hermes Gold Project and Wilgeena Mining Centre

Disclaimer and Forward Looking Statements

This presentation has been prepared by Alchemy Resources Limited (“Alchemy”). This document contains background information about Alchemy current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction.

This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdictions. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such a jurisdiction.

This presentation does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Alchemy and its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Alchemy. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under any applicable law and the ASX Listing Rules, Alchemy does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation of any changes in events, conditions or circumstances on which any such forward looking statement is based.

Competent Persons Statement

The information in this report that relates to Exploration Results for the Wilgeena Mining Centre Project is based on information compiled by Mr Lyndon Hopkins, who is a Member of the Australasian Institute of Geoscientists and a Member of the Australasian Institute of Mining & Metallurgy, is a part-time employee of Alchemy Resources Limited. Mr Hopkins has sufficient experience that is relevant to the style of mineralisation, 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 Resource and Ore Reserves’. Mr Hopkins consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources at the Hermes Project is based on information compiled by Mr Shaun Hackett, who is a Member of the Australasian Institute of Mining and Metallurgy and a full-time employee of Snowden Mining Industry Consultants Pty Ltd. Mr Hackett has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity that 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 Resource and Ore Reserves’. Mr Hackett consents to the inclusion in this report of the matters based on his information in the form and context that the information appears.

The information in this report that relates to Exploration Results for the Magnus Copper/Gold Project and Murchison Projects is based on information compiled by Mr Michael Cowin, who is a Member of the Australasian Institute of Geoscientists and is an employee of Cowin Holdings Pty Ltd which consults to Alchemy Resources Limited. Mr Cowin has sufficient experience that is relevant to the style of mineralisation, 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 Resource and Ore Reserves’. Mr Cowin consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Alchemy Resources Limited has not yet reported resources from the Wilgeena Mining Centre Project. While the company remains optimistic it will report resources in the future, any discussion in relation to targets, resources, reserves or ‘ore’ is only conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.