AUKING MINING LIMITED — Investor Presentation 2011

Mar 23, 2011

China Yunnan Copper Australia Ltd (To be renamed Chinalco Yunnan Copper Resources Ltd)

Investor Presentation

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ASX : CYU March 2011

Cautionar Note and Com etent Persons Statement y p

Cautionary Note

Whilst this document and presentation is based on information from sources which are considered reliable, China Yunnan Copper Australia Ltd ( “China 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, China 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 and Exploration Results for the Elaine Project is based on information compiled by Jason Beckton, who is a Member of the Australasian Institute of Mining and Metallurgy and is the Managing Director of China Yunnan. 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 Mount Dorothy is based on information compiled by Richard Hatcher, who is a Member of the Australian Institute of Geologists, and is the Exploration Manager of China Yunnan. 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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Contents

1	CORPORATE SNAPSHOT
2	RECENT UPDATES
3	BOARD OF DIRECTORS/MANAGEMENT
4	GEOGRAPHICALLY DIVERSIFIED INTERESTS
5	PROJECTS – QUEENSLAND
6	PROJECTS – LAOS
7	PROJECTS – CHILE
8	EXPLORATION AND DRILLING PROGRAM 2011

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Corporate Snapshot

Corporate Focus: Base metals, rare earth elements (REE) & associated precious metals focus in the APEC Region.

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Price A$0.31
ASX Code CYU
Shares issued 118.6M
Options 15.65M
Market Cap A$36.8M
Top 30 Shareholders 66%
Equity
Number of Shareholders 1,300 (approx)
Yunnan Copper
Largest Shareholder Industry Group, 21.2%
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Corporate Snapshot – Cornerstone Investor

• CYU has maintained a partnership with its largest shareholders, Chinalco and Yunnan Copper Industry Group since the company’s IPO.

• The Company aims to become YCI’s international investment arm and mining house.

• The relationship with Chinalco is a key feature in securing economic and technical support from China and provides a gateway into quality projects, evident in the recent Laos expansion.

Chinalco China’s largest aluminium producer.

51%

Yunnan Copper Industry Group (YCI) China’s third largest copper producer. Nearly A$4M invested in CYU to date.

21.2%

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China Yunnan Copper Australia Ltd (ASX: CYU)

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Recent Updates

• Laos - Copper silver joint venture to develop existing mineral deposits in 2011 to feed nearby YCI processing facilities. Drilling through 2011 subject to EGM.

• Chile - Exploration program targeting Company-maker copper porphyry deposits in world’s premier copper jurisdiction.

• Australia - Mary Kathleen joint venture with Goldsearch Ltd (ASX: GSE); copper, cobalt, yttrium (Y) and heavy rare earth elements (HREE) discovery – new drilling campaign commences early April.

Mt Dorothy drilling results include:

MDD005: 16m @ 1249 ppm (1.25 kg/tonne) Total HREE-Y from 71m. MDD006: 36m @ 1.14% Cu and 198ppm Co from 50m. MDR002: 35m @ 1.52% Cu and 397ppm Co from 17m.

MDD010: 10m @ 1,099ppm (1.1kg/t) Y2O3 + TREO from 43m.

MDD011: 6m @ 1,045ppm (1.05kg/t) Y2O3 + TREO from 146m. 17m @ 1.03% Cu, 109ppm Co from 105m.

New copper REE zone discovered on west side of Elaine resource . MKED004: 24 m @ 0.63% Cu, 301 ppm Co from 46m.

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25m @ 2043ppm total rare earth oxide from 69m.

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Board of Directors/Management

Proven exploration team with world-wide track record of discoveries, including Caspiche (Chile), Palmarejo (Mexico), Tolukuma (PNG), Sappex (Greece) and Biely Vrch (Slovakia).

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Geologist with 40 years experience, previously with Mr Norman Zillman Queensland Gas, Great Artesian Oil and Gas, (Non-Executive Co-Chairman) Queensland Government. Mr Zhihua Yao Deputy General Manager of YCI, over 28 years mining (Non-Executive Co-Chairman) and exploration experience in China. Geologist with 18 years experience, previously with Mr Jason Beckton Pancontinental, Gold Fields, Gympie Gold, Bolnisi (Managing Director) Mexico NL, Exeter Resource Corp Chile. Mr Zewen Yang 18 years experience in commodity (minerals) trading (Executive Director) and project financing, previously with CNNC. Mr Richard Hatcher 14 years experience with Bolnisi Queensland, Kings (Exploration Manager) Minerals – Mexico. Previous experience with Newmont, Gympie Gold and Mr James Cran Eastern Mediterranean Resources – Cyprus and (Chief Geologist) Slovakia.

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Geographically Diversified Interests

CYU is acquiring and earning interests in new projects in Laos and Chile that will complement existing exploration interests in Australia and Chile.

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Projects - Queensland

Tenement location plan of Mt Isa Project (100% CYU) and Mary Kathleen JV with ASX-listed Goldsearch Limited (CYU has earned 70%).

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Projects - Queensland

Mt Isa – Copper REE

• Entire belt unexplored for HREEs as per

• the recent Mount Dorothy HREE copper cobalt discovery.

• Iron, copper, gold and quartz breccias

• with associated REE.

• List of targets beyond Mount Dorothy

• and Elaine REE resource to be tested in due course.

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Mt Dorothy Project - Queensland

Mt Dorothy – Mt Isa Heavy REE Copper Cobalt discovery

• Quartz breccias in NE and NW

• orientation both mineralised.

• Currently drilling to test along

• strike and at depth.

• All previous drilling being re-

• assayed for REE.

• Complements nearby Elaine

• REE uranium inferred resource.

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Mt Dorothy Project - Queensland

Mt Dorothy – Copper Yttrium and Heavy REE Zone

• IOCG style breccia mineralisation.

• Iron oxide breccia with central zone of

• yttrium HREEs and copper envelope.

• Further drilling – confirmed at depth,

• now along-strike drilling to build dimension.

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Mt Dorothy Project - Queensland

Mt Dorothy – Copper Zone

• Drilling has defined a new zone at

• depth to the north.

• RC drill out now as diamond drilling has

• defined geometry.

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Farm-out of Cloncurry North Projects - Queensland

Cloncurry North - Joint Venture

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• Yunnan Copper Mineral Resources Exploration (YEX) and CYU have signed a JV for YEX to farm into CYU’s Cloncurry North Projects.

• YEX will invest A$5 million over 3 years to earn in up to 55% of projects.

• YEX will manage the JV operations to grow Gem Resource and test a series of targets.

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Elaine Dorothy Project - Queensland

Elaine West – New Copper and REE Zone

• New overlapping copper and REE

• zones. To be extended by drilling.

• Drilling to infill resource to the east and

• along strike north and south.

• Intercept and follow up drilling will

• result in extension of Inferred JORC resource total rare earth oxides (TREOs).

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Projects - Laos

JV with Sanmu Mining Limited will provide a great opportunity for short-medium term cash flow and a vehicle to acquire projects in SE Asia and China.

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Projects - Laos

JV Structure – Laos and China

• Through a direct equity investment,

• CYU will hold a 51% share in Sanmu Mining, a Chinese registered mineral exploration company formed to explore and develop projects in China and SE Asia.

• Sanmu Mining 100% owns 4 base

• metals and precious metal projects in Northern Laos and is sourcing more projects in SE Asia and China under the direction of YCI and Chinalco.

• All Laos projects are close to the Pan SE

• Asian Highway and operating YCI copper processing plants. Two of the projects have existing mineral deposits.

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YCI
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CYU

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Sanmu Incorporated in
Mining Ltd China
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100% owns Projects in Laos
Xinzhai Jiuzhai Nadao Modeng
Project Project Project Project
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Projects - Laos

JV Strategy – Laos and China

• CYU’s $3 million investment will be used

• to develop Sanmu's existing projects and be applied to new project acquisitions.

• Opportunity to fast-track development

• of these projects into mines and supply concentrates to YCI smelters across the border.

• Sanmu will provide a pipeline of new

• mineral projects (especially advanced and producing assets) in SE Asia and China under the direction of YCI and Chinalco.

• Management, expertise and equipment

• will be arranged and provided by YCI on a cost efficient basis.

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Projects - Laos

Laos – Existing Sanmu projects shallow (non-JORC) Copper Silver projects

• Zambian style sediment

• hosted copper silver deposits.

• Target 100Mt @ 1% copper

• and 120g/t silver.

• JORC Resource drill outs in

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Projects - Laos

Xinzhai project cross section

• Resource growth with

• basic vertical drill out as depicted by black arrows.

• Good geological control

• with sampled underground adits and trenches.

• JORC Resource Estimates

• by end of 2011.

• Chinese feasibility and

• possible construction 2012.

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French and Chinese mined adits of
19.6 metres @ 1.1% Copper 120 g/t Silver.
Open at depth.
Drilling to test possible
Two possible interpretations , flat lying probable sediment.
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Projects - Chile

Chile is the number one copper producer globally with new discoveries at a higher rate than Australia.

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Projects - Chile

Humitos Project

• Drill ready projects only being sourced.

• Initial drilling for nine holes encouraging

• not yet economic to assist 3D model for future drilling.

• Low risk jurisdiction, 6th out of 51 on the

• 2010 mid year Fraser Institute (Australia 31st).

• CYU management has enjoyed previous

• exploration success in Chile.

• Project located 12 km south of Inca de

• Oro (PanAust project) - 259Mt @ 0.46% copper and 0.13 g/t gold.

•

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Exploration and Drilling Program 2011

A full program of drilling on multiple projects and the release of respective results is set to provide continuing news flow.

Quarter Ending	March 2011	March 2011	March 2011	June 2011	June 2011	June 2011	Sept 2011	Sept 2011	Sept 2011	Dec 2011	Dec 2011	Dec 2011
Drilling Mt Dorothy and Isa		*	*	*	*	*	*	*	*
Drilling Chile		*				*				*	*	*
Laos Drilling				*	*	*	*	*	*	*
Resource Estimate Mt Doroth	y
Resource Estimate Xinzhai
Pre Feasibility Xinzhai
*Expected Drilling Results

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China Yunnan Copper Australia Ltd (ASX:CYU)

(To be renamed Chinalco Yunnan Copper Resources Ltd)

ASX : CYU : CYU 上市代码 www.cycal.com.au

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