Buxton Resources Limited (ASX:BUX)

“Aggressive exploration in the Fraser Range” November 2012

Disclaimer/Competent Person’s

Disclaimer:

This presentation has been prepared by Buxton Resources (“Buxton”). The information contained in this presentation is a professional opinion only and is given in good faith.

Certain information in this document has been derived from third parties and though Buxton has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Buxton.

Any forward-looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and may be unknown to, Buxton. In particular they refer only to the date of this document, they assume the success of Buxton’s strategies, and they are subject to significant regulatory, business, competitive and economic risks and uncertainties. Actual future events may vary materially from those in the forward looking statements. Recipients of this document are cautioned not to place undue reliance on such forward-looking statements.

Buxton makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.

To the extent permitted by law, Buxton and its officer’s employees, related corporations and agents disclaim all liability, whether direct, indirect or consequential for any loss or damage arising out of, or in connection with, any use or reliance on this presentation or information.

All amounts are in A$ unless otherwise stated.

Competent Person Statement:

The information in this report that relates to exploration results and exploration targets is based on information compiled by Dr Julian Stephens, Member of the Australian Institute of Geoscientists and Non-Executive Director for Buxton Resources Limited. Dr Stephens has sufficient experience which is relevant to the activity being undertaken 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 and consents to the inclusion in this report of the matters reviewed by him in the form and context in which they appear.

Competent Person: The information in this report that relates to the Mineral Resources for the Cohen Deposit is based on information compiled by Mr Kevin Lowe (MAusIMM) under the supervision and guidance of Mr Trevor Stevenson (FAusIMM (CP)), who are both fulltime employees of Runge Limited. Trevor Stevenson has sufficient experience that is relevant to the style of mineralisation, type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration, Results, Mineral Resource and Ore Reserves (JORC, 2004). Trevor Stevenson consents to the inclusion in this report of the matters based on the information in the form and context that the information appears.

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Corporate Overview

ASX Code: BUX, BUXO

Shares on issue : 47.4M

Listed options: 4.0M ($0.30) Unlisted options: 3.65M ($0.35)

Market Cap.: ~ $20M

Share Price History – 1 year to date

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$0.63
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Cash at bank: $2.4M (15 November)

Shareholders:

National Business Holdings – 10.58% Montezuma Mining (MZM) – 7.2% Top 20 : 52.77%

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$0.09
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Directors

Mr. Seamus Cornelius – Chairman

Mr. Anthony Maslin – Managing Director Dr. Julian Stephens – Non Exec. Director Mr Liu Xing Zhou – Non Exec. Director

Tight capital structure highly leveraged to success

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Project Overview

Widowmaker Nickel-Copper Project – 100% Buxton

Zanthus Magnetite Project – 100% Buxton

Yalbra Graphite Project – 85% Buxton

Dempster Gold and Nickel Project – 90% Buxton

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Strong WA project pipeline
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Strategic Fraser Range Tenement Position

BUX holds 1527 km[2 ] tenements in and around the Fraser Range complex
Includes new applicatons at Dempster & E63/1596
Zanthus also part of the Fraser Range complex

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Widowmaker Ni-Cu Project

225km[2] in the Fraser Range nickel province, WA
Multiple Ni-Cu-PGE anomalies identified
22km along strike from Sirius Resources’ Nova Ni-Cu discovery
Nova host rocks trending into BUX project area
Approximately 20km of strike length of the favourable lithological hostrock package

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Along Strike from Nova – same geological package, Ni anomalies
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Widowmaker Ni-Cu Project

Recent exploration:

Infill calcrete surface geochemistry program underway
165km Airborne VTEM survey completed at Widowmaker Project – 150m spacing
Outcrop identified and mapped

Planned exploration:

Airborne VTEM Survey assessment
Ground EM survey to test Heli VTEM targets
Air Core drilling to test metal anomalies defined in surface geochemistry
Planned RC and diamond drilling program

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Surface geochemistry – Nickel (ppm)

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Airborne VTEM Survey completed - awaiting results
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Yalbra Graphite Project

Strong demand outlook for Graphite market - Lithium batteries… and beyond
Exploration Target:
8-12Mt at 7-11% TGC*
Graphite mineralisation identified in historical drill logs
Significantly increased tenement holding – from 37 km[2] to 473km[2 ]

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Improved landholding with strong demand fundamentals
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The potential quality and grade of the Yalbra Exploration Target is conceptual in nature. There has been insufficient exploration to define a Mineral Resource_ 9 _and it is uncertain if further exploration will result in the determination of a Mineral Resource *all drilling intersections are quoted as downhole widths

Yalbra Graphite Project

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Recent exploration:

A detailed HeliVTEM survey has determined
the extent of potential graphite mineralisation
New, large conductors identified – over
6km strike (Left)
Positive results from rock chip samples
(below right)

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Planned exploration:

Further modelling of EM data to define drill targets
Diamond drilling program

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9 Significant high grade graphite mineralisation confirmed

Zanthus Magnetite Project

Strong rail infrastructure access:
35km from Zanthus railhead and siding (see bottom right)
600km by rail to Esperance Port (see top right)
Superior metallurgy - amongst the best in Australia : 68% Fe grade @ 150 micron
Initial inferred JORC resource of 103.6Mt at 26.5% Fe

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Global exploration target:
0.7 – 1.3 billion tonnes @ 22-32% Fe*

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Significant value to be realised
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*The potential quality and grade of the Zanthus Exploration Target is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource

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Capital Raising/Strategic Partnership

Buxton has recently completed a strategic capital raise with China based National Business Holdings (NBH)
Capital raising of ~$2.1 million was completed through:
Placement of 15% shares at $0.25 to raise ~$1.5 million
$600,000 licensing fee for NBH to exclusively market the Zanthus Magnetite Project to prospective project partners/purchasers for next 15 months
NBH have extensive investments within and outside of China and retain a strong network of business related contacts within the private and public sectors
NBH representative, Mr Liu Xing Zhou, has joined the Buxton Board as NonExecutive Director
NBH is progressing discussions with potential project partners

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Well funded exploration programs & value adding relationship
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2012/2013…

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2013 2012
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Acquired Yalbra Graphite Project
Identified priority targets for Widowmaker Project and secured tenement grant
Completed $2.1 million capital raising - placement and licensing agreement
Completed VTEM survey at Yalbra project
Completion of Widowmaker HeliVTEM survey
Strong results from VTEM survey identify significant conductors at Yalbra
Awaiting Widowmaker HeliVTEM survey results
Drilling on key targets at Widowmaker and Yalbra Projects
• Zanthus deal

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Project Summary/Activity Outlook

	Widowmaker	Zanthus	Yalbra	Dempster
Ownership	100%	100%	85%	90%
Commodity	Nickel, Copper, PGE	Magnetite	Graphite	Gold, Nickel
Resource		103.6Mt at 26.5% Fe*
Exploration Target		0.7 – 1.3 billion tonnes at 22 – 32% Fe	8-12Mt at 7-11% TGC*
Activity outlook	RC/Aircore drilling/ Ground EM Surface geochemistry	Further resource drilling NBH to progress discussions with projectpartners	Diamond drilling planned for 2013	Secure additional tenements

*The potential quality and grades of the Zanthus Exploration Target and the Yalbra Exploration Target is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource

Summary

• Immediate, aggressive exploration continuing at Widowmaker

Very tight capital structure = excellent leverage
Excellent graphite exposure from Yalbra
Cash position of $2.4 million - well funded to execute upcoming drilling programs at Widowmaker and Yalbra projects
Strategic partnership with NBH - significant value to be realised from Zanthus

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Contact