Celsius Resources Limited — AGM Information 2004

Nov 17, 2004

18 November 2004

Manager Company Announcements Australian Stock Exchange Level 6, 20 Bridge Street SYDNEY NSW 2000

JRCES

By E-Lodgement

ANNUAL GENERAL MEETING PRESENTATION

Please find attached the Managing Director's presentation being made at today's Annual General Meeting.

Yours faithfully

DEREK LENARTOWICZ Managing Director

Level 12, London House 216 St Georges Tce, Perth WA 6000 ABN 95 009 162 949

Postal Address PO Box 7656 Cloisters Square WA 6850

Annual General Meeting

18 November 2004

Derek Lenartowicz Managing Director

Objectives

• Generate opportunities for growth through solid acquisitions and strategic alliances
• Strong financial performance
• Strong and experienced management
• Maximise return from assets

Performance

• Full year profit from operations of \$0.3M
• \$3.3M revenue
• Mining at Carnilya Hill and Zone 29 nickel operations
• Production 12,145 @ 2.73% = 330 tonnes
• Bronzewing acquisition

Geographic focus

• Bronzewing $\pmb{\Phi}$
• Mt McClure $\ddot{\bullet}$
• Carnilya Hill $\bullet$
• Zone 29 $\bullet$
• Dunlop $\bullet$
• Coogee Gold $\bullet$

Carnilya Hill & Zone 29 nickel assets

Resource	Tonnes	Grade
Carnilya Sulphide	55,826	2.54
Zone 29 Sulphide	100,495	3.64
Dunlop Sulphide	299,069	1.97
Total Sulphide	455,890	2.41
Reserves
Zone 29	78,113	3.13

Nickel production

Bronzewing gold asset

• \$9m cash consideration
• 386,000 gold ounces resources (Newmont)
• 689,000 gold ounces resources (View)
• 2.1mtpa modern gold plant in place
• Large tenement package
• Huge exploration potential
• Bankable feasibility study due for completion December
• Mining planned for Q1 2005
• Production anticipated at $110,000 130,000$ pa

Bronzewing gold asset

	Tonnes	g/t
Cockburn Open Cut	8,000,000	1.95
Cockburn Underground	710,000	3.39
Bronzewing Central Pit	1,600,000	1.73
Stockpiles	1,150,000	0.55
TOTAL	11,460,000	1.87

أستا

Central Pit section 16675E looking east showing block model grades with current and planned pit outlines

المنكر Bronzewing Cockburn

Cockburn Pit section 12400E looking east showing block model grades with current and planned pit outlines

Key personnel

Derek Lenartowicz – Managing Director

• BEng Msc
• 20 years mining experience including Mt Keith

Geoff Chapman - Chief Geologist

• BAppSc(Geology) MAusIMM
• 20 years mining experience including Mt Keith

George Bauk – Chief Financial Officer

• BBus CPA MBA
• 15 years mining experience including WMC

Tim Gooch – Chief Operating Officer

• BSc Hons, Mining Engineering MAusIMM
• 20 years mining experience including Mt McClure

Future focus

Near term

• Complete BFS
• Project Finance
• Engage Mining Contractor
• Commence Decline Extension at Carnilya Hill
• 3 Ore Headings at Zone 29 ۰
• Commence exploration at $\bullet$ Kambalda
• Complete target program at $\bullet$ Bronzewing

Medium term

• Commence Mining at Bronzewing
• Continue drilling at Kambalda
• Commence drilling at Bronzewing
• Extend mine life at Kambalda
• Complete Feasibility Study at Dunlop

View Resources

• Positive cash flow generation / solid business fundamentals
• Strong and experienced management
• Focused on making our current assets work
• Plenty of growth potential

Annual General Meeting

18 November 2004

Derek Lenartowicz Managing Director