AUKING MINING LIMITED — Investor Presentation 2011

Nov 13, 2011

Investor Presentation November 2011

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Chile, Australia & Laos – Discovery through exploration in the best terrains

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Cautionary Note & Competent
Persons Statement
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Cautionary Note

Whilst this document and presentation is based on information from sources which are considered reliable, Chinalco Yunnan Copper Resources Ltd ( “ Chinalco Yunnan ” ), its employees and consultants do not represent, warrant nor guarantee, by expression nor implication, that the information in this document and presentation is complete or accurate. To the maximum extent permitted by law, Chinalco Yunnan disclaims any responsibility to inform any recipient of this document and presentation of any matter that subsequently comes to its notice, which may affect any of the information contained in this document and presentation.

Competent Persons Statement

The information in this report that relates to the Inferred Resource for the Elaine Project is based on information compiled by Jason Beckton, who is a Member of the Australian Institute of Geoscientists and is Managing Director of Chinalco Yunnan Copper Resources Ltd. Mr Beckton has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for\Reporting of Exploration Results and Mineral Resources". Mr Beckton consents to the inclusion in the 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 Exploration Results for all prospects is based on information compiled by Richard Hatcher, who is a Member of the Australian Institute of Geologists, and is the Exploration Manager of Chinalco Yunnan Copper Resources Ltd. Mr Hatcher has sufficient experience relevant to the styles of mineralisation and type of deposits under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results and Mineral Resources". Mr Hatcher consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Company Snapshot
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ASX Code CYU Market Cap $30.3m Shares on Issue 173.4m Options on Issue 17.8m Total Shareholders c. 1500 Cash (30 Sept 2011) 9.8m Top 20 Holdings 53.7%

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Norman Zillman Non‐Executive Co‐Chairman

ex Queensland Gas, Great Artesian Oil and Gas, Queensland Government – Based in Brisbane.

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Zhihua Yao

Deputy General Manager of YCI, over 28 years mining and exploration experience in China – Based in Kunming.

Non‐Executive Co‐Chairman

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Jason Beckton Managing Director

ex Pancontinental, Goldfields RGC, Gympie Gold, Bolnisi Mexico, Exeter Resource Chile – Based in Santiago.

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Zewen Yang Executive Director

Yunnan Copper, Economics Executive – Based in Sydney.

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Richard Hatcher Exploration Manager

ex Bolnisi Queensland and Mexico, Kings Minerals – Mexico – Based in Brisbane.

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James Cran Chief Geologist

ex Newmont Tolukuma ‐ Sappes, Gympie Gold and EMED Resources – Cyprus and Slovakia – Based in Brisbane.

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Major Shareholder: Chinalco
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Chinalco is the world’s 2 [nd] largest
alumina producer and 3 [rd] largest
primary aluminum producer. Chinalco’s 51% holding in YCI
Chinalco 51% gives it an indirect holding in CYU,
the only Chinalco branded offshore
exploration company.
Yunnan
Copper
Industry
Group (YCI)
YCI is China’s 3 [rd] largest copper 21.3%
producer and essentially an arm of
Chinalco. Chinalco Yunnan
Copper Resources
(CYU)
The relationship provides
economically beneficial projects and
a gateway into potential and
CYU has led Chinalco into Chile for
future projects.
the first time.
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Investment Highlights
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• Exploration properties with potential for world class discoveries in the style of Ernest Henry (Qld) and Inca de Oro (Chile).

• Multiple discoveries of Cu, Co, Au, heavy REE's and Y at the company's Mt Isa projects, including .

• Elaine, recently 26m @ 7.8g/t Au

• Tier 1 partners including YCI, Rio Tinto and Xstrata.

• .

• Exploration program in Chile targeting large-scale Cu deposits underway with scheduled drilling

• Potential for medium term cash flows from fast tracked development into mines of 2 advanced Cu-Ag projects in Laos.

• News flow over the next 6 months incorporating resource drill-outs in Queensland and Laos and exploration drilling in Chile.

• Board and management team with world-wide track record of discoveries.

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Recent Updates
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Australia Drilling Now - Elaine Discovery, Mary Kathleen JV with Goldsearch Ltd.

Elaine New Discovery - Copper Gold Cobalt REE Uranium Thorium sulphide zones . End of Q1 2012 Resource estimate expected to include nearby existing JORC Inferred 83kt @ 3,200 ppm Total Rare Earth.

Mount Dorothy Completed RC drilling of Copper, Cobalt, Yttrium (Y) and Heavy Rare Earth Element (HREE) discovery. Results due December.

Cloncurry Copper Gold Exploration properties farmed out to Yunnan Copper.

Chile Drilling November 2011 Candelabro Prospect . Mega scale targets in Copper Porphyry Exploration Program in worlds premier copper jurisdiction with tier one partners in Rio Tinto and Xstrata Copper. Candelabro first to be drilled and new Geophysics from Caramasa enhance the drill target.

Laos Drilling late 2011 early 2012 . Copper Silver Development JV to prove up and grow existing targets in 2011 to feed nearby processing facilities. Recent Trench results have highlighted Zambian style mineralisation of Copper and Silver.

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Geographical Presence
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Tier 1 Partners & Projects
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- Australia Queensland Goldsearch Limited – Mary Kathleen JV - Including Elaine.

– Chile Andean Cordillera Rio Tinto Exploration – Palmani, Caramasa, Candelabro. Humito – Xstrata Copper Norte. – Laos Copper Silver Northern Sector Yunnan Copper Group – Laos Copper Silver Properties.

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Queensland – Projects
Mt Dorothy & Elaine
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Queensland – Elaine
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Current Strike 300m, Depth 400m and average true Width 100m of Copper Gold Cobalt REE Uranium Thorium sulphide System.

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Queensland – Elaine
Cu Au REE U
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Discovery Drill-out

• Review of previous uranium focused exploration in early 1980’s identified a zone not assayed for copper despite logging of copper sulphides.

• A significant copper sulphide body with associated REE, Cobalt and Gold has been discovered, hundreds of metres thick, on the previously undrilled northern side of the Elaine hill.

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Queensland – Elaine
Open Discovery
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MKED009
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Chile – Projects
Porphyry Copper Exploration
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• CYU Farming into Rio Tinto’s Candelabro Caramasa and , Palmani properties.

• Humito 100% CYU owned and Internal Xstrata Properties.

• Candelabro and Caramasa

• first to be drilled.

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Chile– Candelabro
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4,200 ha – CYU Farm In

• CYU will be farming into Rio Tinto’s 100% interest with a drill rig contracted to commence in November.

• 2000m over four diamond holes commencing November 20-25.

• The system has had geological mapping, sampling and geophysical profiles completed to allow drill targeting.

• • Road cleaning and grading was completed in early October.

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Chile – Caramasa
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Exciting New Geophysics - Caramasa mineralised intrusion coincides with newly defined resistor 200m thick with possible conductive sulphides on flanks. Compelling target to be drilled starting with 2000m mid-January.

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Chile – Palmani
Road Construction Early 2012
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Laos – Projects
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Focus on short term cash flow.

• Average Grades of silver 120 ppm or

• four ounces, average copper 1%.

• Zambian Style sediment hosted

• Copper Silver deposits.

• Corporate Target 100Mt @ 1% copper

• and 120g/t silver.

• JORC Resource drill outs in 2011 -

• Development and production options

• available from nearby partners, Yunnan Copper. Ability to utilise Chinalco smelters situated in nearby Kunming.

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Laos – Drill Ready
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Recent Trench Results from Juizhai include interpreted 43m @ 1.06%Cu and 99g/t Silver. Flat host sediments never systematically drilled and four prospects to test.

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Contact Details

Level 5, 10 Market Street, Brisbane QLD 4000 Telephone : +61 7 3212 6204 Fax : +61 7 3212 6250 www.cycal.com.au

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Juizhai Project - Laos

– Jason Beckton Jason@cycal.com.au