ASPIRE MINING LIMITED

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Investor Presentation - September 2011

ABN: 46 122 417 243

Forward Looking Statements & Disclaimer

Forward Looking Statements

Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties which may cause the Company’s actual performance in future periods to differ materially from any express or implied estimates or projections.

Disclaimer

No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its officers, employees and advisers expressly disclaims any responsibility for the accuracy , fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. Any opinions expressed in the presentation are subject to change without notice.

All persons should seek appropriate professional advice in reviewing or considering the presentation and all other information with respect to the Company and evaluating the Ovoot Coking Coal Project and the other Mongolian coal assets. The presentation does not purport to contain all of the information that may be required to evaluate all of the factors that would be relevant in determining whether to deal in the Company’s securities, including but not limited to any person’s objectives, financial situation or needs. Each person should make, and will be taken to have made, its own investigation, assessment and analysis of the information in this presentation and other matters that may be relevant to it considering whether to deal in the Company’s securities.

This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, Canada, Japan, or in any jurisdiction where such distribution or offer is unlawful. Neither this presentation nor a copy of the presentation can be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person as defined in Regulation S under the US Securities Act 1933, as amended (the “Securities Act”). Any failure to comply with this restriction may constitute a violation of United States securities laws. The presentation and any oral statements made in connection with it are not an offer of securities for sale in the United States.

Company Snapshot – Corporate Structure

Capital	Structure	(ASX:AKM)
		Undiluted	Diluted
Share Price_(13 September 11)_	$	0.570	0.570
Shares Outstanding	m	540.0	849.22
Market Capitalisation	$m	307.8	484.0
Options on Issue	m	247.7
Net Cash	$m	12.01	46.72
Enterprise Value	$m	295.8	437.3

1 As of 30 June 2011

2 Assuming full take up of top up rights by SouthGobi

Ownership (Fully Diluted)

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Share Price (LTM)

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1.20 50.0
6 Apr 2011
Final quality data
confirms high quality
coking coal
1.00 22 Mar 2011 24 Jun 2011
Noble discloses 8.6% Lifts Ovoot Stage 2 40.0
interest Production from 10.5
mtpa to 12 mtpa
15 Dec 2010
SouthGobi Placement
0.80
approved by
shareholders
30.0
14 Oct 2010
0.60 Maiden 330Mt
Resource 18 Mar 2011
8 Sep 2010 Additional quality data
Positive Quality confirms high yield 20.0
Testwork Results expectations
0.40
17 Nov20 10
Maiden Hong Kong
Roadshow 20 Jun 2011
25 Oct 2010 Strengthens board with
$20.1m Strategic Andrew Edwards and 10.0
0.20 Placement with Mark Read as Non-
SouthGobi Executive Directors
0.00 0.0
Aug-10 Nov-10 Feb-11 May-11 Aug-11
Price
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Volume
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Aspire’s Strategic Investor Interest

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20.1% 9.5% Interest Interest (Oct 2010) (Mar 2011)

PROJECTS

Project Locations

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Project Interests

Ovoot Coking Coal Project (100%)
Jilchigbulag Coal Project (100%)
Nuramt Coal Project (100%)
Shanagan Joint Venture (51% Earn in)
Zavkhan Iron Ore Project (Earning 70%)

Ovoot – Geology and Tenement Plan

Project Tenement and Geology

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+500sqkm project area
10,000m drilling programme for 2011
Comprehensive Magnetics Programme
Numerous targets within host Jurassic sediments

Ovoot JORC Resource & Coal Seam Stratigraphy

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93% of Resource Tonnes are located in the Upper and three plies of the Lower Seam

JORC Resource

	Above 250m Depth	Below 250m Depth	Total
Measured	70.4	22.9	93.3
Indicated	135.0	47.4	182.4
Inferred	41.9	13.1	55.0
Total	247.3	83.4	330.7

	More than 80% of the resource is in the
	‘Measured’ and ‘Indicated’ categories
	75% of resource sits above 250 metres –
	potential for a large scale open pit operation
	Completed 44 holes and 8,364 metres of drilling
	93% of resource located in just two seams

Mongolian Coking Coal Deposits – Measured and Indicated Resources

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Source: Mongolian Mining Corp
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Location Plan of Deposits
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Total Resource including Inferred resources is 330.7mt

Notes:

(1) Tavan Tolgoi deposit; data from public sources
(2) Ukhaa Khudag deposit; In accordance with the JORC code measured and indicated resources; Data from Prospectus.
(3) Ovoot Tolgoi and Soumber deposits. In accordance with the Canadian NI 43-101 standards. Data from June 2010 Investor Presentation.
(4) Ovoot deposit. In accordance with JORC code. Measured and Indicated resources.
(5) Baruun Naran deposit. In accordance with the Canadian NI 43-101 standards. Data from BaruunNaran pre-feasibility study 2008
(6) Nariin Sukhait deposit. Data from company website.
(7) Khushuut deposit. Data from MEC August 2010 Company Presentation.

Ovoot Cross Section – Starter Pit

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Ovoot Indicative Product Quality & Fluidity Properties

Yield % IM % Ash % Volatiles CSN Sulphur % % Indicative Washed Coal 80% 0.6% 8% 25 - 28% 8 - 9 1% Quality

Air dried basis
Above table based on R.D. 1.4 cut for all 7 sample batches from the 2010 Exploration Programme
• ISO Coal Classification: Medium Rank B, high vitrinite, low ash, coking coal

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World Class Fluidity Properties Gray-King Coke Type G11 – G12 Maximum Fluidity (log ddpm) 3.67 Plastic Range 106[o] C Max. Contraction % 35% Max. Dilation % 250%

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An Attractive, High Quality, Globally Competitive Product

Coal marketing experts Wood Mackenzie describe Ovoot coal as:

A strongly caking hard coking coal with superior blend carrying capacity
Within the ideal range for mid volatile hard coking coal and fat coal classifications
• Presents as a value add blend coal with cheaper inert coals due its very high vitrinite content and good fluidity

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Ovoot Coal Quality Comparison

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Feasible Rail Path Identified

Commentary

Potential Rail Route

Calibre Rail has reviewed a
number of rail options to connect Ovoot to coal export markets
Multiple potential users of rail between Moron and Erdenet
Rail path analysis identified a preferred and feasible:
162 km rail path to Moron
390 km rail path from Moron to Erdenet

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Catalyst for Development of Northern Mongolia

Rail Connection to Moron will Provide Enormous Benefits for Northern Mongolia:

Will utilize underused rail capacity on the TMR heading north
Provide job opportunities
125,000 people in Khuvsgul Province
Well educated but high unemployment
83% of Khuvsgul GDP is agriculture
Generate Substantial Royalty and Tax Revenues
Increase Exports to Russia and other Countries
Community Infrastructure
Improvements to roads, rail, power, water and sewage
Health and education

Rail to Moron is part of the 2008 – 2015 Development Plan for Khuvsgul Province.

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Potential Routes to Coal Markets – rail access

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Asian Importers of Coking Coal: Japan 53Mt[1 ] Korea 18.6Mt[2 ] Taiwan 4Mt[3 ] 75.6Mt Russian total Coking Coal Exports to Asian markets:

4.3Mt[2 ]

Source: UBS Investment Research, 11 April 2011: UBS Global I/O: Commodity Price Review, CY2010 data
Source: Mitsui Bussan Metals Co. Ltd, World Metallurgical Coal Trade (CY2009)
Source: TEX Report, CY2009 data

Ovoot Stage 2 Development Timeframe

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Summary – Ovoot Coking Coal Project

Large 330 mt resource – thick seams
High Quality Coking Coal
Potential Large Production of up to 12 mtpa
High Washing Yields
High Production Open-pit
Many Alternative Paths to the Seaborne Markets and China

Catalyst for Development of Northern Mongolia

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July 2010

Competent Person Statement

In accordance with the Australian Securities Exchange requirements, the technical information contained in this announcement in relation to the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Neil Lithgow –Non Executive Director for Aspire Mining Limited. Mr Lithgow is a Member of the Australian Institute of Geoscientists and 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.” Mr Lithgow consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

The technical information contained in this announcement in relation to the JORC Compliant Coal Resource for the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Chris Arndt and Dr Bielin Shi of CSA Global Pty Ltd. The information in this report that relates to Mineral Resources is based on information compiled by Dr Bielin Shi, who is a member of the Australasian Institute of Mining and Metallurgy. Dr Bielin Shi has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which she 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 information in this report that relates to Mineral Resources is based on information compiled by Dr Bielin Shi, who is a member of the Australasian Institute of Mining and Metallurgy. Dr Bielin Shi has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which she 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”.

Mr Arndt and Dr Shi of CSA Global Pty Ltd consent to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Contact details