BARYS RESOURCES LIMITED — Investor Presentation 2012

Nov 6, 2012

An emerging copper and gold opportunity

Disclaimer

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

This presentation (including information contained in this disclaimer) is not a prospectus nor an offer to subscribe for shares and has not been lodged with the Australian Securities and Investments Commission. Except for any liability which cannot be excluded by law, Mining Group Limited (MNE) and its affiliates expressly disclaim and accept no responsibility or liability (including liability for negligence) for the contents of this presentation.

General

This presentation has been prepared for the consideration of interested parties in the equity funding of Mining Group Limited (MNE) and does not carry any right of publication or disclosure to any other party. This presentation is incomplete without reference to and should be viewed solely in conjunction with the oral briefing provided by Company management or its advisors. Neither this presentation nor its content may be used for any other purpose without prior written consent of MNE.

The information in this presentation is based upon information provided by the management of MNE as well as publicly available information and reflects prevailing conditions and our views as of this date, all of which are accordingly subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of any information made available from the management of MNE and public sources.

The information contained in this presentation is of general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

Whilst the information presented and views expressed in this presentation and the oral briefing have been prepared in good faith, MNE accept no responsibility or liability to any party in connection with such information or views.

Competent person’s statement

The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Zeffron Reeves who is a member of the Australasian Institute of Mining and Metallurgy. Zeffron Reeves has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Zeffron Reeves consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Tagpura, Maangob and Kalamatan Mineral Resources, is based on information compiled by Chris Black of Cube Consulting, who is a Member of The Australasian Institute of Geoscientists. Chris Black has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Chris Black consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. Cube Consulting is an independent Perth based resource consulting firm specialising in geological modeling, resource estimation and Information Technology.

Exploration Target

It is common practice for a Company to comment on and discuss its exploration in terms of target size and type. The term "Exploration Target" should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004), and therefore the terms have not been used in this context. Exploration Targets are conceptual in nature, and it is uncertain if further exploration or feasibility study will result in the determination of a Mineral Resource or Mining Reserve.

Forward looking statements

Certain statements contained in this presentation, including information as to the future financial or operating performance of MNE and its projects, are forward‐looking statements. Such forward‐looking statements:

• are necessarily based upon a number of estimates and assumptions that, while considered reasonable by MNE, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements; and

• may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices operating costs production prices, and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

MNE disclaims any intent or obligation to update publicly any forward‐looking statements, whether as a result of new information, future events or results or otherwise.

The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward‐looking statements. All forward‐looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.

The copper equivalent cut‐off grade used in the calculation of the mineral resource estimate was determined using US$3.40/ lb copper, US$1700/ oz gold and was not adjusted for metallurgical recoveries as these remain uncertain. The formula used in the calculation was as follows: Copper Equivalent Formula= Cu % + Au (g/t) x 0.72662

Investment Highlights

• Initial JORC Resource 130Kt cu and 130koz Au

• High grade of 9m tonnes (0.80%CuEq) with low strip ratio demonstrates viable economics

QUALITY PROJECT WITH SUBSTANTIAL POTENTIAL

• Recent exploration results confirm the potential to increase resources within the immediate area

• High grade gold potential identified on the northern lease (EP1)

• Extensive high grade gold system identified first results from Taub

• Large ground holding on the mineral rich Philippines fault which hosts large scale Cu/Au porphyries

• Historical copper mining on a commercial scale in the 1980s

EXPOSURE TO COPPER and GOLD

• Copper price fundamentals remain strong

• Supply shortfall even under conservative demand scenarios

• Gold prices continue to rise on global uncertainty

PHILIPPINES......

ATTRACTIVE FUNDAMENTALS

• Hugely prospective with one of the world’s largest Cu/Au endowments

• Recent track record of successful project development

• Great source of mining skills with a competitive cost structure

Identified resource and multiple advanced targets

Tagpura, Maangob and Kalamatan Inferred Mineral Resource Estimate > 0.3% Copper

Inferred Prospect	Tonnes	Cu (%)	Au (ppm)	Cu (t)	Au (oz)
Maangob	5,022,000	0.41	0.06	20,500	9,500
Kalamatan	6,647,000	0.36	0.22	24,000	47,900
Tagpura West	15,709,000	0.34	0.08	54,000	38,800
Tagpura East	5,297,000	0.71	0.25	37,600	42,700
Grand Total	32,675,000	0.42	0.13	136,100	138,900

Tagpura, Maangob and Kalamatan Inferred Mineral Resource Estimate > 0.4% Copper

Inferred Prospect	Tonnes	Cu (%)	Au (ppm)	Cu (t)	Au (oz)
Maangob	1,972,000	0.52	0.08	10,200	5,000
Kalamatan	1,173,000	0.43	0.23	5,100	8,600
Tagpura West	1,888,000	0.44	0.08	8,300	5,100
Tagpura East	3,954,000	0.84	0.3	33,300	38,200
Grand Total	8,987,000	0.63	0.2	56,900	56,900

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TARGETS

RESOURCE

• 130Kt cu and 130koz Au

• 9mt high grade Resource remaining

• Tagpura East indicative strip ratio of 2.4:1

• Much of the waste will be at grades of 0.35%Cu

• Tagpura Nth –double Tagpura footprint

• Bayag Bayag – 600m strike with ore grade intercepts

• Kalamatan – recent 100m intercept – leachable

• Kapanawan – outcrops, rock chips

• Ugpo and Taub gold targets to the North – extensive high grade gold system identified

A BASE TO BUILD ON

Copper/ Gold Fundamentals Remain Strong

CRU’s global long term Copper balance

COPPER

Supply Challenges

• Historically < 20% of projected greenfields supply is realised as planned

• Majors deferring projects in current climate

• Energy, power and water constraints

• Significant infrastructure requirements

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Copper production costs rising

• Falling head grades

• Deeper mines leading to higher operating costs

• Rising labour costs

• Rising capital costs

GOLD

• Gold retains purchasing power while other currencies are being devalued:

• monetary/fiscal re‐flation and sovereign debt concerns

• Central banks have become net buyers

• Growth in emerging market demand with increased GDP per capita

Head grades are in steady decline, and are forecast to continue at this declining rate in the future.

Philippines – attractive country fundamentals

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One of the world’s most highly mineralised countries:

• 9m ha of prospective metallic mining land in the “Pacific Ring of Fire” (Mines and Geosciences Bureau)

• Prospective for “Giant” porphyry deposits

Resource potential:

• 3rd largest gold mineral endowment

• 4th largest copper mineral endowment

• Many historically defined deposits remain neglected

Recent track record of successful project permitting and development:

• Masbate – CGA, Co‐O – Medusa, Siana – Red 5

Cost/labour structures very competitive:

• Mining skills well developed from senior professional to operator skills

Close to major consumers:

• Reduced logistics – close to China, India and Japan

Comval Project is Well Located

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Situated on the highly prospective Philippines Fault Zone: .

• Belt holds numerous Cu, Au and Cu/Au deposits

Historical mining operation:

• Commercial scale mining in the 1980s

• Supportive community who understand the value of mining

• No rural activity in prospective areas

• No small scale mining in the southern lease

• Local employment and community projects

Close to infrastructure:

• Sealed road to within 20km of property – sealed road under construction

• 80kms from Davao – Provincial capital and cargo terminal

• 70kms from existing port

A Brownfield Project Opportunity

Compostela Valley (Comval) Project

• 80% ownership

• Two granted exploration permits totalling 4,310ha

• Cu‐Au‐Ag porphyry system

• Four known deposits with inferred resources

Multiple targets

• Two types of copper mineralisation targeted

• High grade skarns ‐ typically lower tonnage <50 m tonnes at approx. 1% Cu Eq

• Tagpura, Mangob, Bayag Bayag

• Porphyry – large tonnage, lower grade, 0.5%Cu + gold – Kalimatan, Bayag Bayag

• High Grade Gold – northern lease has at surface, proven high grade gold potential at Ugpo and Panag/Taub

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Source: MNE

Comval Project – Initial Targets

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Maangob

• 1,100m NW of Tagpura

• 2mt Resource @ 0.52%Cu near surface

Tagpura High Grade Orebody

• Mined commercially in the early 80s

• 3.95mt Resource @ 0.84%Cu, 0.30g/t Au remaining in Tagpura East

• Indicative strip ratio of 2.4:1

• Much of the waste will be at grades of 0.35%Cu

• Estimate at least this much mined historically in early 80s

• 2mt Resource @ 0.44%Cu near surface in Tagpura West

Tagpura Section Looking North

Source: MNE

Bayag Bayag – Drilling proves porphyry potential

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Tagpura Resource Zone
Bayag Bayag Skarn Targets
– Untested over entire
length
Bayag Bayag
Porphyry Target
Bayag Drill Results ‐ Untested
28.00m @0.88% Cu
11.30m @ 1.11% Cu
10.40m @ 0.87%Cu
10.00m @1.02% Cu
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Section showing BCPDH000006 and porphyry feeders
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• High temperature feeder zone intercepted in BCPDH‐00006.

• Broad zone of low level copper mineralisation

• Best feeder intercepts; 5m @ 0.44% Cu, 0.15 g/t Au and 2m @ 1.38% Cu, 0.64 g/t Au*

• More drilling to do on skarn and porphyry targets

Comval Project – Still Only Early Stage

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Tagpura North
Tagpura
Bayag Bayag Skarn
and Porphyry
Targets
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Very early stage with mapping carried out over a very small area of the lease < 20%

New high resolution ground magnetics is also providing better data and delineating possible extensions and new targets

Priority is to test new targets and extend mapping and magnetics over larger area

Multiple targets- extensive surface mineralisation

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Taub

• New high grade gold bearing quartz vein system

• 300m along strike and 200m wide structural corridor

• Trench samples returning very high grades

• Intention to commence drilling

• 7.5km north of the Tagpura pit

Tagpura North

• High gold content

• 500m x 300m footprint, open to the NE

• 400m vertically higher than Tagpura, potentially preserved mineralised zone

Bayag Bayag

• Located 800m south from Tagpura Pit

• Mapping has now indicated a target of at least 800m in strike length – economic drill intercepts from first pass drilling

Kapanawan

• Widespread outcropping skarns and mineralised diorite

• Rock chips – awaiting assay

Kalamatan

• Porphyry target

• Deeply oxidised leachable copper

• 2.7km Nth

• Recent 100m intersect within potassic alteration zone

Unlocking underlying resource value

Tagpura North – New Discovery

• High copper and gold at surface (up to 3.58% Cu and 12.52 g/t Au)*

• Channel sampling returns gold dominant zone of 36.00m @ 4.84 g/t Au including 8.00m at 11.56 g/t Au

• Large footprint and over 400m potential vertical extent– high tonnage potential

• Strong magnetic and geochemical anomaly

• Further underpins potential for Comval Project to host numerous copper and gold ore bodies

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Tagpura North channel sample and mineralisation locations on ground magnetics analytical signal image. Hot colours indicative of magnetite skarns

Unlocking underlying resource value

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Taub prospect geology map, trench and adit locations display assay results for gold above 1.00g/t

Taub – New Discovery

• New high grade quartz vein system

• Trench samples returning up to 52.45 g/t Au and 169.70 g/t Ag including 4.00m @ 17.75 g/t Au and 51.45 g/t Ag from CCPCH00001

• Gold bearing quartz vein mapped and sampled over 300m along strike with 200m corridor

• 39.84 g/t Au and 36.30 g/t Ag, 31.96 g/t Au and 56.50 g/t Ag and 31.19 g/t Au and 64.50 g/t Au

• Exceptional results for first work carried out

Ugpo – New Discovery

• Identified similar structural corridor, artisanal workings and outcropping quartz veins

• Currently undertaking systematic trench samplings across the target

High Grade gold potential

• Targets recently identified from historic data*

• Extensive kilometer scale footprint along strike at Ugpo and Taub

• Structurally controlled high grade gold vein systems

• Trenching and mapping work underway

• Drilling late 2012

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Comval Project - Kalamatan

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A
A’
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Kalamatan Prospect

• Porphyry style mineralisation with potential for large tonnage Cu/Au deposit

• Mineralised diorite intercept of 55.00m @ 0.51% Cu and 0.33 g/t Au from surface in hole

TAG00062

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Kalamatan Porphyry Target Plan and Section Location
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A
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A’

• Initial resource demonstrates potential with deeply oxidised copper mineralisation

• Sequential leach assays returned +80% recovery from top 100m.

• More drilling needed

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Kalamatan Porphyry Target Section A-A’
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Near term operational activities

• Commence drilling at Tagpura North – mid November 2012

• Results from mapping, trenching and rock chips for Ugpo and Taub gold prospects

• First pass drilling Ugpo and Taub gold targets early December 2012

• New target generation and testing

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Source: Cygnet Capital
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Why Mining Group

• Initial JORC Resource 32.67mtonnes at 0.51%CuE

• High grade of 8.97mtonnes at 0.80%CuEq remaining within areas mined commercially in the 1980s

• Recent exploration results confirm the probability of increasing Resources within the immediate area

• High grade gold potential identified on the Northern Lease – EP1

• Large ground holding on the mineral rich Philippines fault which hosts large scale Cu/Au porphyries

• Philippines hugely prospective with one of the world’s largest Cu/Au endowments and a recent track record of successful project development

• Copper and Gold price fundamentals remain strong despite the recent fall in Bulk Commodities

Contact Details

Head Office

3 Richardson Street West Perth, WA 6005 Phone +61‐8 9322 6424 Email admin@mininggroup.net.au Web www.mininggroup.net.au

Investor Relations

Market Eye

Ronn Bechler, MD Market Eye Email: ronn.bechler@marketeye.com.au Mobile: +61‐400 009 774 Office: +61‐3 9591 8901

Zeffron Reeves, Managing Director

Email: zreeves@mininggroup.net.au Phone +61‐8 9322 6424

Media Relations LastSay Communications

Donna Cole, Director Email: donna@lastsay.net.au Mobile: +61‐419 901 229 Office: +61‐8 6102 7295

Appendix - Company Overview

Mining Group Limited	As at 05 Nov 2012
ASX Code	MNE
Date Listed	1 July 2011
Total Shares¹	100,404,688
Listed 20c Options ex 1 July 2014	40,422,230
Unlisted Options²	6,500,000
Top 20 Shareholders	43%
Current Share Price (05 November 2012)	$0.115
Market Cap	~$11.5 million
Cash on Hand	~$3.125 million

Notes:

1. Total shares include: 86,889,063 listed ordinary shares and 13,515,625 unlisted ordinary shares as follows: 10,915,625 Shares escrowed to 1 July 2013; 2,600,000 Shares escrowed to 17 January 2014.

2. Total unlisted options includes: 1,500,000 Options Exercisable at $0.20 each on or before 1 July 2014 (escrowed to1July 2013); 400,000 Options Exercisable at $0.55 each on or before 28 February 2014; 300,000 Options Exercisable at $0.60 each on or before 1 April 2015 (escrowed to1April 2013); 50,000 Options Exercisable at $0.60 each on or before 14 May 2015; 500,000 Options Exercisable at $0.45 each on or before 15 July 2014; 3,750,000 Options Exercisable at $0.20 each on or before 1 July 2015.

3. Listed July 2011

4. Acquired Comval from Cadan in Jan 2012

5. Commenced exploration at Comval Jan 2012

6. Strong Board and management team with considerable technical, commercial and corporate experience

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