AUKING MINING LIMITED — Investor Presentation 2012

Feb 21, 2012

February 2012 Rare Earth & Strategic Metals

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Mary Kathleen Open Cut – NW QLD

Exploring an emerging REE province, NW Queensland in Joint Venture with

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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 Richard Hatcher, who is a Member of the Australian Institute of Geoscientists and is Exploration Manager of Chinalco Yunnan Copper Resources Ltd. Mr. Hatcher 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. Hatcher 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	$29.5m
Shares on Issue	173.4m
Options on Issue	16.5m
Total Shareholders	c. 1500
Cash (31 Dec 2011)	7.5m
Top 20 Holdings	53.7%

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Norman Zillman

Non-Executive Co-Chairman

Zhihua Yao

Non-Executive Co-Chairman

Jason Beckton

Managing Director

Zewen Yang

Executive Director

Richard Hatcher

Exploration Manager

James Cran

Chief Geologist

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

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

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

Yunnan Copper, Economics Executive – Based in Sydney.

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

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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CYU has led Chinalco into Chile for the first time.

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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 Xstrata Copper – Mt Frosty JV

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Chile – Andean Cordillera Rio Tinto Exploration – Palmani, Caramasa, Candelabro. Humito – Xstrata Copper Norte.

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Laos – Copper Silver Northern Sector Yunnan Copper Group – Laos Copper Silver Properties.

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Recent Updates - Australia
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Mary Kathleen Joint Venture – CYU 70% & GSE 30%:

Mt Dorothy Completed RC drilling of Copper, Cobalt, Yttrium (Y) and Heavy Rare Earth Element (HREE) discovery. 3D modelling underway.

Elaine

Drilling – 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 Frosty Joint Venture – Xstrata Copper 100%, CYU earning in:

Mt Frosty Binding term sheet signed with Xstrata Copper to farm in and earn upto 75% in Mount Frosty Project covering the regional Mary K shear zone.

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NW Queensland – Projects
Mt Dorothy & Elaine
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NW Queensland – Mt Dorothy
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NW Queensland – Mt Dorothy
Cu Co REE Y
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• Follow up drilling on previously reported moderate to high grade Copper – Cobalt intersections with heavy Rare Earth Oxide and Yttrium Oxide (TREO+Y2O3)

• Significant intersections MDD005 : 16m @ 1,864ppm TREO MDD010 : 10m @ 1,099ppm TREO MDD011 : 6m @ 1,045ppm TREO

• TREO result reported predominately HREO of Dysprosium (Dy), Europium (Eu), Holmium (Ho) and Yttrium (Y).

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NW Queensland – Elaine
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NW Queensland – Elaine
Cu Co AU REE U Th
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• 2010 CYU / GSE Inferred Resource

• 83,000Kt @ 0.28 kg/t U3O8, 3236ppm TREO.

• Significant intersections MKED001 : 1.5m @ 0.17 kg/t U3O8, .

• 1.7% TREO, 0.37 kg/t ThO2

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MKED001 Uranium + REO Zone
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• MKED003 : 3m @ 1.85 kg/t U3O8, .

• 4.4% TREO, 0.20 kg/t ThO2

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MKED003 Uranium + REO Zone
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• TREO predominately LREO of Cerium (Ce), Lanthanium (La) and Neodynium (Nd).

• Mary Kathleen processed 9.2Mt @ 1.16 kg/t U3O8, unprocessed (reported) upto 3% TREO and 0.25 kg/t ThO2

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NW Queensland – Elaine
Cu Co AU REE U Th
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• A significant copper sulphide body with associated Cobalt, Gold, REE, Uranium and Thorium has been discovered, hundreds of metres thick, on the previously undrilled northern side of the Elaine hill.

• Significant intersections MKED004 : 78m @ 0.05kg/t U3O8,

• .

• 1,672ppm TREO, 0.18kg/t ThO2

MKED009 : 26m @ 3.37kg/t U3O8, 7.76g/t Au . 976ppm TREO, 0.03kg/t ThO2

MKED016 : 1m @ 0.37kg/t U3O8,

• .

• 1.1% TREO, 1.32kg/t ThO2

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NW Queensland – Elaine
Cu Co AU REE U Th
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MKED009 :

MKED009 Uranium + REO Zone

26m @ 3.37kg/t U3O8, 7.76g/t Au, 976ppm TREO, . 0.03kg/t ThO2 1m @ 58.96kg/t U3O8, 0.29g/t Au, 4,067ppm TREO, . 0.08kg/t ThO2

MKED009 Uranium + REO Zone

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Queensland – Elaine
Open Discovery
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MKED009
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NW Queensland –
Mt Frosty
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• Skarn alteration similar to that at Elaine is developed on a much larger scale over several kilometres strike length.

• Work by Xstrata Copper includes geological mapping; geochemical sampling; helicopter mounted VTEM and magnetics 9 NQ core holes and down-hole EM (DHEM) on holes KOPD001 to 005.

• Significant intersections

KOPD005 : 20m @ 1.2% TREO. KOPD007 : 20m @ 5,787ppm TREO.

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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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Mount Dorothy Prospect – NW QLD

– Richard Hatcher richard@cycal.com.au