BARYS RESOURCES LIMITED — Investor Presentation 2012

Jun 12, 2012

An emerging copper opportunity

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June 2012
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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.

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.

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Mining Group – new copper opportunity

PROJECT

• Located on the mineral rich Philippines fault which hosts large scale Cu/Au porphyries

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

• 3 historically known deposits

• 4[th] deposit, Bayag Bayag, recently identified

• Recent drilling confirms the exploration model and prospectivity

• Option on adjoining Batoto property

COPPER

• Copper price fundamentals remain strong

• Supply shortfall even under conservative demand scenarios

• Gold prices rising on global uncertainty

PHILIPPINES

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

• Largely underexplored and ignored by the majors

• Recent track record of successful project development

• Great source of mining skills with a competitive cost structure

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Company overview

Mining Group Limited	As at 6 June 2012
ASX Ticker	MNE
Date Listed	1 July 2011
Total Shares¹	50,202,344
Listed 20c Options ex 1 July 2014	21,922,230
Unlisted Options²	2,250,000
Top 20 Shareholders	[53%]
Current Share Price (06 June 2012)	$0.25
Market Cap	$12,550,586
Cash on Hand	~$1.5 million

Notes:

1. Appendix 3B, 14 May 2012: Total shares includes 36,536,719 listed ordinary shares and 13,665,625 unlisted ordinary shares as follows: 150,000 Shares escrowed to 22 June 2012; 10,915,625 Shares escrowed to 1 July 2013; 2,600,000 Shares escrowed to 17 January 2014.

2. Listed July 2011

3. Acquired Comval from Cadan in Jan 2012  Commenced exploration at Comval Jan 2012

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

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Volume ('000) Price (cents)
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1. Total Unlisted options includes, 1,500,000 Options exercisable at $.20 each on or before 1 July 2014 (Escrowed to 1 July 2013); 400,000 Options exercisable at $.55 each on or before 28 February 2014 , 300,000 Options exercisable at $0.60 each on or before 1 April 2015 (Escrowed to 1 April 2013), 50,000 Options exercisable at $0.60 each on or before 14 May 2015

Volume Share price

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Super Cycle Theme Returns Copper fundamentals remain strong

CRU’s global long term Copper balance

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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Production costs rising

• Falling head grades

• Deeper mines leading to higher operating costs

• Rising labour costs

• Rising capital costs

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

Why the Philippines - Geology

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:

• 3[rd] largest gold mineral endowment

• 4[th] largest copper mineral endowment

• Many historically defined deposits remain neglected

Historically very little activity by Majors:

• Juniors active for many years

• Numerous examples of underexplored properties

• Majors now looking for entry points

• Xstrata and Goldfields have undeveloped projects

Source : www.usgs.gov (Open file data)

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Why the Philippines

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Recent track record of successful project permitting and development:

• Masbate ‐ CGA

• Co‐O ‐ Medusa

• Siana – Red 5

• Runruno – Metals Exploration

Cost/labour structures very competitive:

• Mining skills well developed from senior professional to operator skills

• Strong manufacturing/engineering fabrication base in region

Close to major consumers:

• Reduced logistics – close to China, India and Japan

• Local Smelter in the Philippines

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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

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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

• Tagpura, Mangob, Kalamatan

• 24,000m of drilling and trenching

• Tagpura mined commercially in the 1980s

• Recent drilling success at Bayag Bayag

Batoto Project

• Option to gain 80% of the Batoto project (EXPA 109

and APSA 246)

• Potential large tonnage open pit porphyry

• hosted gold resources

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• Due Diligence underway

Source: MNE

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Comval Project – Multiple Targets

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Cu-Au-Ag

• Two types of mineralisation targeted

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

• Historical mine and proven skarn targets in the south

• 3 drilled another two identified from mapping

• Tagpura, Mangob, Bayag Bayag, Tagpura East and Kapanawan skarns

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

• Skarn/porphyry target at Kalamatan

• Porphyry/epithermal and skarn targets in the northern areas and quartz veins historically exploited by small scale miners.

Comval Project – primary targets

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Tagpura

• 16,359m of historical RC and diamond drilling completed to date

• Results (ASX announcement, 9 Feb 2012*) from recent drilling contained the highest grade intercepts encountered to date

• TAG110D 10.70m @ 2.96% Cu and 0.79 g/t Au from surface

• TAG112D 26.00m @ 1.95% Cu and 0.74 g/t Au from 39.00m

• TAG113D 41.00m @ 1.83% Cu and 0.59 g/t Au from 42.00m

• Exploration Target 8Mt ‐ 10Mt at grades between 0.5%‐0.7% Cu & 0.1‐0.3g/t Au**

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Source: MNE
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• *Full results in this announcement.

• **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)

Comval Project – primary targets

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Source: MNE
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Maangob

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Driller’s camp
Source: Cygnet Capital
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• 4,680m of historical RC and diamond drilling

• Sampling and mapping of 484m of 800m underground adits ‐ these results included (ASX announcement, 20 January 2012*):

• W1 Adit ‐ 86.00m @ 1.01% Cu, 0.20g/t Au and 1.56 g/t Ag

• S2 Adit ‐ 40.00m @ 0.78% Cu, 0.12g/t Au and 0.95 g/t Ag

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*Full results in this announcement.

Bayag Bayag – proving the exploration model

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• Located 800m south from Tagpura Pit within easy trucking distance

• Identified by small area of mapped skarn with a coincident copper outcrop

• First drill hole BCPDH – 00001 – 44.00m @ 0.64% Cu from 39.00m, including 28.00m @ 0.88% Cu (ASX Announcement 16[th] May 2012)

• Mapping has now indicated a target of at least 800m in strike length

• Further 9 holes already drilled

• Drilling continues to intersect what appears to be visible copper mineralisation. Assays pending

 Recent mapping has identified numerous additional skarn targets which could also be local repeats of Tagpura

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Comval Project – still only early stage

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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

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

Comval Project – Porphyry potential

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Driller’s camp
Forster et al, 2004 600m
Oliver, 2012
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• Strong indications from Bayag Bayag that the system represented is very large

• Mineralisation and alteration indicate presence of large Cu porphyry mineralising system, similar systems include Cadia (Forster et al, 2004).

Oliver, N.H.S., 2012, Comparative Geochemistry of Tagpura and Bayag Bayag, Compostela valley, Mindanao, Philippines, internal report. Forstrer, D. B., Secombe, P.K., and Phillips, D., 2004, Controls on Skarn Mineralisation and Alteration at the Cadia Deposits, New South Wales, Australia, Economic Geology, Vol. 99, pp 761‐788.

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Comval Project - Kalamatan

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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

• First pass drill program by Cadan of 14 holes for 1,604m

Kalamatan interpreted geology section

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Comval Project – value proposition

• Refocused exploration program planned for remainder of 2012

• Project even more prospective than originally thought:

• Bayag Bayag discovery provides confidence exploration model is valid

• Only a very small area mapped ‐ need to better understand the larger area and identify additional skarns

• Bayag Bayag and other deposits also indicate the potential for large scale porphyries

• New skarn targets already identified and initial drilling planned

• Drilling of Kalamatan planned to test porphyry potential

• Regional work underway aimed at identifying large porphyries

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Batoto Project – option to earn 80%

• Porphyry hosted gold mineralisation

• Potential large tonnage open pit

• Widespread small scale mining in sheeted quartz vein complex ‐ high grade up to 30g/t

• Historic drilling intersected numerous zones of intense potassic alteration and coincident low grade gold mineralisation

• BD2 ‐ 17.00m @ 0.94 g/t from 50m

• BD2 ‐ 6.00m @ 1.24 g/t from 72m

• BD2 ‐ 12.00m @ 0.99g/t from 92m

• The drilling to date has been poorly targeted

• Geologic link to the skarns yet to be understood

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Results and expected news flow

• Reducing to 1 drill rig with a greater focus on new target generation and testing

 Drill results from remaining 8 holes drilled at Bayag Bayag expected in June/July

• Drilling of new Skarn Targets to commence in June

• Ongoing discussions with strategic investors

• Due diligence underway on Batoto

Source: Cygnet Capital

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Mining Group – new copper opportunity

PROJECT

• Hugely prospective landholding

• Four deposits already confirmed

• Geology better understood and model confirmed

• Large number of targets identified

• Option on adjoining Batoto property

COPPER

 Price fundamentals remain strong

PHILIPPINES

 Right address at the right time

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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

Andrew Maurice, Managing Director Email: amaurice@mininggroup.net.au Mobile: + 61‐410 642 660

Daniel Fraser, Corporate Advisor, Cygnet Capital Email: df@cygnetcapital.com.au Mobile: + 61‐439 943 067

Media Relations

LastSay Communications

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

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