CATALINA RESOURCES LTD — Investor Presentation 2012

Nov 20, 2012

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Shree Minerals Limited

An emerging iron ore producer in Tasmania

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DISCLAIMER

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This presentation contains only a brief overview of Shree Minerals Limited (“Shree") and its activities and operations. The contents of this presentation, including matters relating to the geology of Shree’s projects, may rely on various assumptions and subjective interpretations which it is not possible to detail in this presentation and which have not been subject to any independent verification.

This presentation contains a number of forward‐looking statements. Known and unknown risks and uncertainties,

and factors outside of Shree’s control, may cause the actual results, performance and achievements of Shree to differ materially from those expressed or implied in this presentation.

To the maximum extent permitted by law, Shree does not warrant the accuracy, currency or completeness of the information in this presentation, nor the future performance of Shree, and will not be responsible for any loss or damage arising from the use of the information.

The information contained in this presentation is not a substitute for detailed investigation or analysis of any particular issue. Current and potential investors and shareholders should seek independent advice before making any investment t decision in regard to Shree or its activities.

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results, Mineral Resources and ore Resources is based on information compiled by Mr. Mahendra Pal who is a Fellow of the Australian Institute of Mining and Metallurgy.

Mr. Pal is a Director of Shree Minerals Limited.

Shree Minerals ‐ About

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• Shree Minerals Limited (ASX: SHH) is a diversified mineral exploration and mine development company.

• Shree has a portfolio of projects within Tasmania of the scale and diversity to provide a continuously active exploration program with early production opportunities.

• The Company’s key objectives are:

• to focus on the development of its Nelson Bay River magnetite project in Tasmania

• exploration of other mineral tenements located in Tasmania

• acquisition of additional prospective mineral tenements in Australia and overseas

• development of strategic partnerships to support its project development and acquisition of prospective mineral concessions and

• developing a supportive shareholder base that can assist in achieving these objectives.

• Capital Structure:

• Shares on issue:

95.9M

Shree Minerals ‐ Management

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Experienced Board – Proven Track Record

Mr Sanjay Loyalka , Chairman

• CEO and Managing Director of Aditya Birla Minerals Ltd, (2003-08); Responsible for the acquisition of Nifty & Mount Gordon Copper mines, development of the Nifty project.

Mr Arun Jagatramka, Director

• Chairman of Gujarat NRE Coking Coal Ltd.

Mr Mahendra Pal, Director

• Responsible for the discovery of several iron ore bodies in the Hamersley basin; Mt .Tom Price (Southern Batter), Paraburdoo (Lens II), Lamington, Juna Downs (Marra Mamba ore) etc.

Mr Andy Lau, Director

• Vice president of China Alliance International Holdings Group Limited.

Mr Amu Shah , Director.

• Hon Counsel general of Kenya.

Shree Minerals ‐ Highlights

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• Near term production at Low CAPEX & competitive OPEX at NBR project

► NBR project profitable despite smaller size (vs typical Iron ore projects)

► Tenements lie in :

• World class Mineral province

• region of producing mines and deposits with high-grade gold, gold-copper, gold-silver, and nickel/cobalt, iron, etc., resources /reserves

► Exploring for

• Epithermal gold

• VMS deposits

• Iron ores, both DSO (goethitic-hematite) and beneficiable (magnetite)

• Accessible good infrastructure and availability of experienced labour force

• Management- local and world wide experience in multi commodities with proven success record

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Nelson Bay River (NBR) Iron Project

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Shree’s Nelson Bay River Iron Project is located in North West Tasmania.

Nelson Bay River Iron Project

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NBR Iron Ore Project

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• A global iron resource of 11.3Mt at 36.1% Fe including magnetite resources and goethite-hematite resources

• Goethite-hematite Inferred Resource of 1.4Mt containing

• 0.7Mt of Direct Shipping Ore (DSO) at an average grade of 58% Fe and

• 0.7Mt of Beneficiable goethitehematite.

• Magnetite Resources of 7.8 Mt @ 38.3 DTR

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• Capable of producing highgrade concentrates to produce

• Blast Furnace (BF) Pellets

Nelson Bay Iron Project Goethite-Hematite Iron Block Grade Distribution

(View: grid north east; cyan = fresh iron mineral zone including magnetite zone; brown = oxidised mineral zone)

NBR: Potential

• Has additional magnetic features suggesting possible Iron mineralisation at :

• West of the NBR occurrence

• North of Nelson River

• An anomaly in the far south east of the licence

• An anomaly in Rebecca Creek

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3D Aeromagnetic Inversion Study

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Drilling 2012‐13

• Drilling Objectives

• Infill to upgrade category of existing DSO Resource

• Extend DSO Resource/ Reserves

• Geotechnical/Mine engineering studies

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Ready Infrastructure: Close to Road & Port
Port Latta
Burnie
NBR Project
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NBR Iron Project – Production Plan

Waste	M3	11,627,562
Oxide Ore	tonnes	1,013,359
Magnetite Ore	tonnes	2,902,946
Total Ore	tonnes	3,916,305
Strip Ratio	M3/t	2.97
Ore per year	tonnes	400,000
Years of Production		9.9

• Substantial Exploration Upside

NBR: Product strategy

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Phased approach:

1. Direct Shipping Iron Ore (DSO ) , with very low deleterious elements (very low Al2O3 ) : Lump & Fines

2. Iron Ore product (Fines & Lump) from Beneficiable goethitic-hematite iron resource.

3. Magnetite concentrates suitable for:

4. Dense Media Magnetite (DMM) separation in coal washery and

5. high-grade Blast Furnace pellets.

DMM is a premium product

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NBR Iron Project – DSO Mine Plan

• The production schedule for the first two years comprise of mining DSO iron ore .

• The DSO requires no further beneficiation to produce a marketable product.

• Two separate DSO pits are planned in the first two years (comprising DSO South Pit and DSO North Pit, which is within the BFO resources)

Ore Type	Tonnes (Mt)	Grade (Fe %)
DSO Ore	0.815	57.5

Low CAPEX & lead time to production (< 6 months), competitive OPEX

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NBR DSO on track for production

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Statutory approvals

1. Approval/grant for developing mine at the Nelson Bay River Iron Project received from the:

2. Circular Head Council, Tasmania;

3. Environmental Protection Authority (EPA), Tasmania; and,

4. Mineral resources Tasmania (MRT) grant of Mining Lease

5. Approvals expected :

6. Commonwealth Government under EPBC Act

   • Public exhibition of Draft EIS completed

   • Responded to submission received & final EIS has been published

   • All departmental queries have been responded

Port Access: MOU with Grange Resources

Offtake Contract: MOU with Large International Trading house

: Funding Advanced stage of discussions with Banks for Debt Funding

Sulphide Creek EL 43/2004

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• Previous exploration shows presence of gold

• Harvey Creek Fault considered as a conduit for gold mineralisation

• Tenement lies within the Dundas element, which hosts world class deposits (Rosebery & Hellyer copper, lead & zinc mines, Mt Lyell Copper-Gold Mine, Henty Gold Mine, Renison Tin Mine, Ave-bury Nickel Deposit).

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Mt Sorell EL 42/2008

• Exploration license covers an area of 10 km2 and located in West Tasmania.

• Potential for a VHMS deposit e.g. Rosebery, Hellyer etc., within the Cambrian volcanics that corresponds to the Aberfoyle-reported zinc soil anomaly

• In addition there is also the possibility of hybrid epithermal style Cu/Au mineralisation similar to that of Mt Lyell.

• The 2011/12 fieldwork has extended the anomaly and identified encouraging vectors consistent with the presence of a Volcanic Hosted Massive Sulphide (VHMS) mineralisation system in the area; supporting earlier explorers view.

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Mt Bertha EL 42/2004

• Exploration license covers an area of 134 km2 and located 20km northeast of the Savage River iron ore mine and about 50 km southwest of the port of Burnie in North West Tasmania.

• Five exploration targets have been defined and there is considered potential for:

• Both DSO and beneficiable magnetite resources;

• Besshi Style volcanogenic Cu-Zn-Ag-Au mineralisation;

• Tennant Creek Style iron oxide associated Cu-gold mineralisation in brecciated zones;

• Avebury Style nickel mineralisation;

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Tasmania

A World Class Mineral Province

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Appendice – Resource Tables

Nelson Bay Global Iron Resources

(30% Fe cut off includes Magnetite Resource material)

Resource Category	Mass (Mt)	Fe%
Indicated	1.8	38.6
Inferred	9.5	35.9
Total	11.3	36.3

Nelson Bay River Magnetite Resources

(20% DTR cut off)

Resource Category	Mass (Mt)	Mag.%	Magnetite Kt
Indicated	1.7	38.5	667
Inferred	6.1	38.2	2,324
Total	7.8	38.3	2,991

NBR oxide/ Hematite Resources

Deposit	Resource	Tonnes (Mt)			Grade (%)	Grade (%)
	Category
			Fe	Al2O3	P	S	SiO2	LOI
DSO Sth &	Indicated	0.33	57.4	1.3	0.075	0.035	9.2	6.4
BFO	Inferred Total	1.10 1.43	50.8 52.3	2.2 2.0	0.044 0.051	0.055 0.050	18.1 16.0	5.5 5.6

Appendice – Resource Tables

NBR Hematite (DSO South pit) Resources

Resource Category	Mass (Mt)	Grade (%)	Grade (%)	Grade (%)	Grade (%)	Grade (%)	Grade (%)
		Fe	Al2O3	P	S	SiO2	LOI
Indicated	0.33	57.4	1.3	0.075	0.035	9.2	6.4
Inferred	0.37	58.7	1.3	0.094	0.029	6.9	6.8
Total	0.70	58.1	1.3	0.085	0.032	8.0	6.6

Average density 3t/m[3] ; the use of significant figures does not imply precision; minor rounding errors. DSO cut off based on a nominal 54% Fe. Beneficiable Ore (BFO) cut off based on a nominal 30% Fe.