AUREKA LIMITED — Investor Presentation 2012

Sep 25, 2012

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SCIENCE
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DISCOVERY
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GROWTH
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RIU Melbourne Resources Round-up Presentation
September 2012
Geoff McDermott – Managing Director
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Forward-looking statement & disclaimer

The information contained in this presentation has been provided by Navarre and other sources identified herein. No representation or warranty, express or implied, is made by Navarre or any adviser or any of their respective affiliates or representatives as to the accuracy or completeness of such information. Nothing contained in this presentation is or shall be relied upon as, a promise or representation by any of Navarre or any such advisers, their respective affiliates or representatives.

The information contained in this presentation is for informational purposes only and is not a recommendation as to whether to invest in Navarre shares. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Unless otherwise specified, data and tables set out in this presentation are based on Navarre management estimates.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Navarre or its directors, or any of their employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, projections, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Past performance is no guarantee of future performance.

This presentation includes “forward-looking statements” within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, “objectives”, “outlook”, “guidance” or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Navarre and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward-looking statements and Navarre assumes no obligation to update such information.

The contents of this presentation are strictly confidential and must not be photocopied, reproduced, disclosed or distributed to any other person without the prior written consent of Navarre.

Competent Person’s statement

The information in this presentation that relates to Exploration Results, Mineral Resources and Exploration Potential is based on information compiled by Mr Wessley Edgar. Mr Edgar is an employee of Navarre Minerals Limited, is a member of the Australasian Institute of Mining and Metallurgy and is a Competent Person under the definition of the 2004 JORC Code. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource. Mr Edgar consents to the publication of this information in the form and content in which it appears.

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Navarre Minerals Limited

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We have a discovery under shallow cover 40km from the 22Moz Bendigo Goldfield
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Project location

Extensive tenement position with excellent exposure to gold and base metals growth

Ballarat – Bendigo Corridor Bendigo North Project Group (Tandarra, Raydarra & Sebastian)

• Quartz Reef & Secondary gold (alluvial & deep lead)

Landsborough Fault Corridor Kingston & Glendhu Projects

• Quartz Reef hosted gold

Delamerian Fold Belt Corridor

Black Range Project

• VMS Cu – Zn – Au

• Porphyry Cu –Au

2,300 km[2] of tenements

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Substantial success in first full year

Discovery of a potential new goldfield under cover in central Victoria at Tandarra prospect

• 29 lines of quartz reef targets identified by 67 line km of CSAMT geophysics for followup drill testing - 14 confirmed gold-bearing by scout air-core drilling to date

• Over 20,000 metres of air-core, RC & diamond drilling completed in 12 months

• Three high-grade lines of reef identified to date – Tomorrow, Macnaughtan & Reynolds

• Drilling intersects near surface, high-grade gold mineralisation within an expansive –

• envelope of quartz stockwork veining potential for open pit mining, analogous to reefs in nearby Bendigo Goldfield

• Farm-in agreements at Raydarra & Sebastian expands Bendigo North footprint along controlling Whitelaw Fault (35km of prospective strike)

• Bulk sample plant purchased to test and confirm gold grades

• 100% ownership of Tandarra following conversion of Crocodile Gold Corp’s earn-in right to 2% net smelter royalty

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Central Victoria gold endowment

Dept. of Primary Industries predicts 32 Mozs of gold under cover north of Bendigo

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Source: Victorian Department of Primary Industries, Gold Undercover Initiative 2007

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Bendigo North An emerging gold district

Four Eagles Prospect

• 100% ownership of flagship Tandarra prospect

• Earning 75% interest in Raydarra & Sebastian

• Gold concealed by shallow Murray Basin sediments (5m – 80m deep)

• Emerging gold belt controlled by Whitelaw Fault

• Navarre controls 35km of strike along prospective Whitelaw Fault

• Potential for open pit mining

• Less than 20% of area drill tested to date

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Tandarra

Best gold prospect in Victoria

• New geophysical approach followed by scout drilling uncovers multiple lines of quartz reef

• Scale potential from multiple quartz reefs

• Bulk sample of RC drill residue to assist grade estimation

• Raydarra – a possible extension of Tandarra?

• Drill program recommences in Oct 2012

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Raydarra & Tandarra
Depth to Basement
Showing all drilling
September 2012
4 km
Tandarra
(100%)
170.0
145.0
120.0
95.0
70.0
Raydarra 45.0
(earning 75%)
20.0
Depth to top of basement (m)
8
EL 5364
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Tandarra 2012 Drilling

• Three high-grade lines of reef identified to date – Tomorrow, Macnaughtan & Reynolds lines

• High grade gold occurs within a broad halo of mineralised quartz close to surface

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Tandarra

Cross-section through Tomorrow line

18 m September 2012

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Tandarra

High-quality project

• Drill results supportive of conceptual open pit:

• gold grades range from moderate to high-grade

• close to surface

• potentially open-pit mineable

• near established infrastructure and large workforce

• open in all directions

• Gold mineralisation open in all directions – possible same structural position as Four Eagles (north) and extension into Raydarra (south)

Tandarra drill highlights*

Air-core Hole ID	Length (m)	Minimum Gold Assay Range (g Au/t)	Maximum Gold Assay Range (g Au/t)
ACT015	10.0	17.9	44.3
TAC125 and includes	4.0 3.0 1.0	6.6 1.9 3.1	7.2 87.5 259.8

RC Hole ID	From (m)	Length (m)	Gold Assay (g Au/t)
RCT006 includes	35.0	24.0 12.0	2.5 4.9
RCT050 includes	44.0	4.0 1.0	9.4 33.6
RCT063 includes	18.0	4.0 1.0	9.2 30.9
RCT062 and and	35.0 76.0 103.0	11.0 17.0 10.0	2.0 1.2 1.0
RCT045 includes	27.0	17.0 1.0	1.1 10.8
RCT051	22.0	14.0	1.5
DDT001 includes	20.1	29.1 0.7	1.6 28.6

* See Navarre’s ASX releases dated 26 July 2012 & 28 October 2011

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Bendigo Goldfield historic production World-class gold target

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• Estimate of historic gold production in Bendigo indicates about 5 - 6 million ounces of gold was mined in the top 100m from surface

• Early indications from Tandarra suggest possible alluvial gold in buried valleys

Source: Catalyst Metals Limited ASX release 20 July 2011

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Bendigo Goldfield analogy

World class gold deposit

• Historic gold production from multiple lines of lode

• Lines of lode are sub-horizontal with reefs repeating at regular intervals with depth

• 18 million ounces of reef gold

• 4 million ounces of alluvial gold

• Probable 5 – 6 million ounces of gold mined in top 100m from surface

• Individual reefs up to 115,000 ounces of gold per strike kilometre*

• Gold footprint approximately 12km x 3km

*Source: Catalyst Metals and Fraser R, Bartlett J & Quigley P – 5[th] International Mining Geology Conference 2003

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Project Pipeline

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Sebastian Gold Project Potential shallow gold under cover

• Under explored

• Surface gold anomalies to test

9 km Under Cover Gold Potential Sebastian Goldfield (187,000 ozs past production)

Bendigo Goldfield

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Gold occurrences
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• Ground geophysics program – Oct ‘12

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UNITY
MINING 9 km
LIMITED
Murray
Basin
cover
Navarre Minerals
Earning 75%
700 m
140,000 ozs in top 90m
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Stope production detail with diamond drilling as conducted by CGT

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Kingston Emerging gold project close to established infrastructure

• At-surface, oxide gold mineralisation with shallow high-grade gold intercepts including recent Navarre drilling - 16.9m @ 5.5g Au/t from 66m down-hole in DDK001

• 100% owned with dominant position along prospective Landsborough Fault

• Historic mining over 1,000 metres of strike to a max depth of 75 metres - high-grade gold, silver and minor lead mined

• Active mining jurisdiction – Stawell Gold Mines operation 30 kilometres away

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Kingston Gold Mine circa 1900
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Kingston Previous high-grade gold intercepts to follow up

• Recent airborne magnetic survey locates possible repetitions of Kingston mineralisation for follow-up testing

• Ground geophysics program underway

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1.1 km
60 m
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Kingston Gold occurs on margins of massive quartz

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* See Navarre’s ASX release dated 24 January 2012

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Black Range Significant copper-zinc-gold prospect

• Volcanics are believed similar in age and geology to Tasmania’s Mt Read Volcanics - host to large deposits such as Mt Lyell, Rosebery, Henty & Hellyer

• Under-explored due to poor outcrop and shallow cover

• Large copper-zinc-gold mineralisation of potential volcanic massive sulfide (VMS) system identified at Eclipse

• Experts on Tasmanian VMS rocks and VMS geophysics assisting exploration targeting

• Soils program planned for Q4 2012

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2012/13 Exploration Program Testing the shallow open pit potential

BENDIGO NORTH GOLD PROJECT

• 13,000 metres of air-core and diamond drilling

• Delineation drilling over 4km strike of 3 high-grade reefs at Tandarra

• Test other shallow regional quartz reef and alluvial gold targets

• Bulk sample testing of RC residues

• Geophysics program at Sebastian with follow-up drill testing

• Commence conceptual mining studies at Tandarra

OTHER PROJECTS

• Ground geophysics & drill program at Kingston / Landsborough Fault

• Soils program at Black Range

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Corporate

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NML (listed 31 March 2011) 55.8 million 2.37 million (unlisted) AUD$0.16 (11 September 2012) $8.9 million (AUD$0.16) $1.5 million (30 June 2012) SPP Capital raising underway Crocodile Gold Corp 9% (Owner of Fosterville and Stawell Gold Mines) Board & Management 25% Top 20 shareholders 60%

ASX code Shares on issue Options Share Price Market Cap Cash Major Shareholders

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Investment case

Discovery of a potential new goldfield under shallow cover in central Victoria

• Bendigo North, Tandarra gold discovery under shallow cover - 40km along strike from 22Moz Bendigo Goldfield

• Emerging gold belt controlled by Whitelaw Fault – Navarre controls 35km of strike

• Three high-grade lines of reef identified

• Scale potential from multiple quartz reef targets identified

• Alluvial gold targets to test

• Conceptual open pit mining study to commence

• Maiden mineral resource target for 2013 at Tandarra

Other highlights

• High grade gold results at Kingston located close to producing Stawell Gold Mine

• Extensive land position at Black Range which is prospective for base metals with affinities to Tasmania’s Mt Read Volcanics

• $1.5 million cash at bank as at June 30 2012. Capital raising underway

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For more information contact

Navarre Minerals Limited 40 – 44 Wimmera Street Stawell VIC 3380 Tel: 03 5358 8625 Website: www.navarre.com.au Email: info@navarre.com.au

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