AUKING MINING LIMITED — Investor Presentation 2012

Mar 27, 2012

Investor Presentation March 2012

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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	$32.1m
Shares on Issue	173.4m
Options on Issue	16.9m
Total Shareholders	c. 1500
Cash (31 Dec 2011)	7.5m
Top 20 Holdings	53.7%

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Norman Zillman

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

Non-Executive Co-Chairman

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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

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

Managing Director

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Zewen Yang

Yunnan Copper, Economics Executive – Based in Sydney.

Executive Director

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Richard Hatcher

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

Exploration Manager

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James Cran

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

Chief Geologist

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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
Chinalco 51% gives it an
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
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Chinalco’s 51% holding in YCI gives it an indirect holding in CYU, the only Chinalco branded offshore exploration company.

The relationship provides economically beneficial projects and a gateway into potential and future projects.

CYU has led Chinalco into Chile for 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 Cerro Colorado (Chile).

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

• Tier 1 partners including Chinalco Yunnan Copper, Rio Tinto and Xstrata Copper.

• Exploration program in Chile targeting large-scale Cu deposits with 2000m drill program underway .

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

• Imminent news flow surrounding current resource drill-outs in Laos and current exploration drilling in Chile.

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

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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. Xstrata Copper – Mt Frosty JV.

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Chile – Andean Cordillera Rio Tinto Exploration – Palmani, Caramasa, Candelabro. Xstrata Copper - Humitos.

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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Queensland – Elaine
Cu Au REE U
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Discovery Drill-out

• Overall the shape of the Elaine discovery remains open to the west and easy and at depth.

• Resource evaluation is currently being undertaken.

• 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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Queensland – Elaine
3D Perspective
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Chile – Projects
Porphyry Copper Exploration
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• A 2000m diamond drill program is underway at

• Candelabro with Caramasa next to be drilled.

• CYU Farming into Rio Tinto’s Candelabro ,

• Caramasa and Palmani properties.

• Humitos 100% CYU owned claims plus farming

• into enveloped Xstrata Copper Property.

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Chile– Drilling Candelabro
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• CYU is farming into Rio Tinto’s

• 100% interest.

• 2000m over four diamond holes

• commenced.

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

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Chile– Drilling Candelabro
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CYU Drilling a Rio Tinto Discovery

• Proposed location 4 just completed, Moved to Proposed Location 6.

• Sulphides intercepted, vectoring to centre of system with subsequent drilling.

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Chile– Drilling Candelabro
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Visual Results Encouraging

• Visual copper porphyry intercept for first hole CAND0005

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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. Drill road complete.

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

• Zambian Style sediment hosted

• Copper Silver deposits.

• Corporate Target 100Mt @ 1% copper

• and 120g/t silver.

• JORC Resource drill outs are currently

• taking place at Xinzhai and Juizhai.

• Development and production options

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

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Laos – Drilling
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– Xinzhai Drilling Hole XZP001 is to test the dipping extension of known mineralisation defined by trenches and adits. Visual copper silver intercepts, assay results due in coming weeks.

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Summary
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Australia

Elaine

Mount Frosty

New Discovery – Confirmed Copper Gold Cobalt REE Uranium Thorium sulphide zones . End of Q1 2012 Resource estimate tabulation expected to include nearby existing JORC Inferred 83kt @ 3,200 ppm Total Rare Earth. CYU farming into Xstrata Copper’s project and planning to commence exploration on known Elaine style REE Copper Gold sulphide occurrences.

Chile

Currently Drilling Candelabro Prospect . Mega scale targets in Copper Porphyry Exploration Program in world’s 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

Currently Drilling Jinzhai & Xinzhai . Copper Silver Development JV to prove up and grow existing targets in 2012 to feed nearby processing facilities. Trench results have highlighted Zambian style mineralisation of Copper and Silver.

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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