BUXTON RESOURCES LIMITED — AGM Information 2008

Nov 11, 2008

Buxton Resources Limited

2008 Annual General Meeting Presentation

Ron Smit, Managing Director 12 November 2008

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Presentation Agenda

Corporate/Financial Overview The year that was......project review The year ahead......

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Corporate / Financial Overview

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$ ,000
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$ ,000
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October 2007

Listed: October 2007 Exploration Spend: $0.79 million (end Jun 08) $0.23 million (Sep quarter) Cash: $2.5 million Market Cap: $1.6 million (at $0.05)

Listed Shares: 32,040,010 Unlisted Options: 8,750,000 (June 2012)

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The year that was......project review

• Warda Warra – tested and exited

• Western Shaw – sold

• Eelya Hill – access issues

• Kanandah – just drilled

• Dempster – geochem ongoing

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Warda Warra Project – Sulphide Nickel

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VTEM – right tool, cost effective

• screened the greenstone belt

• no conductors hosted by ultramafics

Downgraded Ni sulphide potential

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Warda Warra Project – Sulphide Nickel

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Conductors detected, but...

• hosted by basalts

• associated with narrow steep quartz

• sulphide veins

Likely to be small and sub‐economic

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Trixie Prospect
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Warda Warra Project – Laterite Nickel

	Hole	Interval	(m) Ni%	From(m)
	WWA09 WWA24	14 8	0.69 0.88	Surface* 18
	WWA28	14	0.97	8
	WWA43	10	0.83	6*
	WWA47	8	0.81	8*

• to end of hole

New zones of laterite Ni mineralisation discovered, but...

• Thin clay zones

• All < 1% Ni

Low‐grade & limited tonnage potential

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Western Shaw Project – Iron

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• Hematite zones located, but... • mostly narrow zones

• • high silica content

• • sub‐ore grades

• Unlikely to host large tonnages of iron ore

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Kanandah Project – Base Metals

Gravity – right tool, cost effective

• screened large area of prospective host rocks

• four priority targets selected for drill‐testing

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Kanandah Project – Base Metals

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K1
K4
K3
K5
K2
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Five holes drilled (944 m)

• no visible base metal mineralisation

• localised pyrite development (up to 5%)

Awaiting assay results

Dempster Project – Gold

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Calcrete Geochemistry – right tool, cost effective

• regolith well understood

• < 20 m to basement

Dempster Project – Gold

890 calcrete samples

• large low‐level gold anomalies detected

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Dempster Project – Gold

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The year ahead......

Three path strategy – adjust to account for market change

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Project Evaluation
Driven by key decision points
Project Generation
Strength, low key, low cost
Project Acquisition
Opportunity, look for value
“cash is king” – conserve cash
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