CLARA RESOURCES AUSTRALIA LTD — AGM Information 2010

Nov 24, 2010

AGM Update Presentation

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AusNiCo : (ASX; ANW)

New Nickel Sulphide Province in Queensland, Australia

AusNiCo’s Objective is to Create Shareholder Value through the Discovery and Development of Mineral Resources

Nov 2010

Australian

Cobalt

Nickel1

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Forward Looking Statement

Whilst based on information from sources considered reliable, AusNiCo Limited, its directors, employees and consultants do not represent , warrant or guarantee , expressly or impliedly , that the information in this document and presentation is complete or accurate. To the maximum extent permitted by law, Limited, disclaims any responsibility to inform any recipient of this document and presentation of any matter that subsequently comes to its notice, which may affect any of the information contained in this document and presentation.

Competent Persons Statement

The information herein that relates to Exploration Results is based on information compiled by Nicholas Mather B.Sc (Hons) Geol., who is a Member of The Australian Institute of Mining and Metallurgy. Mr Mather is employed by Samuel Holdings Pty Ltd which provides certain consultancy services including the provision of Mr Mather as a Director of AusNiCo Ltd.

Mr Mather has more than five years experience which is relevant to the style of mineralisation and type of deposit being reported 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, Minerals Resources and Ore Reserves’ (the JORC Code). This public report is issued with the prior written consent of the Competent Person(s) as to the form and context in which it appears

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AusNiCo Investment Highlights

Knowledge and Experience

Advanced Targets

First Mover Advantage

Multiple Commodities

Substantial Tenement Position

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(Ni) Marlborough 72mt @ 0.92% Ni, 0.03% Co AusNiCo Substantial Tenement Locations and Proximal infrastructure in (Au) Rawdon/YarrolMt.Morgan/Cracow/Mt Queensland = Good Address Regions for AusNiCo tenements (Cu ) Coalstoun Porphyry Known Resources (Au) Gympie/Shamrock Mine 4

Objectives

Objectives.

• Focused primarily on nickel sulphide exploration, in terrains where potential for commodities other than nickel are present.

• Take advantage of rising commodity prices through re evaluation , discovery and development of near mine extensional resources.

Strategy.

• The earl identification of areas and ro ects that are ros ective for economic y p j p p

• nickel mineralization (re-evaluation using new prices, new technologies).

• Deliver cost effective exploration success using rigorous and systematic approach to prioritize and evaluate exploration targets(re-interpretation of available data to .

• identify predictable patterns)

• Develop Innovative exploration models that focus on big systems.

• Identify and acquire advanced projects to increase the potential for success.

Commitment.

• Build a team of professionals with proven track record in transition from idea to mine.

• Maintain high standards in respect to workplace health, safety and environmental .

• management

• Work closely with key stakeholders.

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Directors

• Brian Moller ‐ Chairman:

• C orpora t e par t ner a t r s B i b ane ase b d aw rm opgoo l fi H d G an m i

• Non Exec Director of D’Aguilar, Platina Resources and Solomon Gold

• John Downie ‐ Managing Director:

• Extensive international , corporate and project experience

• Previously CEO/MD of Gladstone Pacific Nickel

• Currently Chairman of Goldminex Resources Ltd.

• Nick Mather ‐ Non‐executive Director:

• Experienced Geologist managing/investing in emerging resource companies

• CEO and Co Founder of D’Aguilar and Solomon Gold

• Former Exec Director and Co Founder of Arrow Energy

• Steve Roberts ‐ Non‐executive Director:

• Finance, accounting and business development specialist

• Previously Chief Development Officer for BHPB Nickel (M & A, exploration and technology)

• • Current y C l h airman o f Lin k Water an d Lin k Water Project

• Ben Harrison – Non –executive Director:

• Associate director at Bizzell Capital Partners.

• Previously worked in Corporate Finance and Equity researchat Wilson HTM

• Experience in project management, financial analysis, primary and secondary market transactions and mergers and acquisitions.

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Value Drivers

• Continued strong Nickel price and outlook.

• Tenements owned 100% & first mover advantage .

• New Nickel sulphide model defines a new province, with:

• Repeat target provinces in Queensland

• E x s i ti ng su p l hid e n i t ersec ti ons

• Shallow open pit mine targets

• Excellent infrastructure – power, water, roads, rail, ports.

• Hedged with multiple commodity exposure Ni, Au ,Cu, Co.

• Historical mining area.

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Active Exploration Program.

• Substantial Sampling Program with (2,398 samples collected)

• • Early Drilling at Kilkivan

• • Data Review and Assessment

• • Further Drilling in Mt Cobalt Region early 2011

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First Diamond Core Holes at Pembroke PEMD 1 Completed 8th Nov 2010 at 201 m depth PEMD 2 Completed 24[th] Nov 2010 at 297 m depth

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Core from PEMD1

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(Similar to veA bury core) Avebury Mine in Tasmania is owned by Min ng ani d Meta s roupl G

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PEMD1 AVEBURY
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High Grade Intersections from Pembroke Nickel Prospect

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Assay highlights rom rsf fi t ho el :

• 20.9 m @ 1.04% Cu, 2.09g/t Au. and 26m @ 0.44% Ni.

• Highest result was 12.33m @ 1.49% Cu, 2.95g/t Au; • including 1m @ 9.56g/t Au, 15.85g/t Ag, 5.06% Cu and 0.53% Ni.

• • Nickel intersection over the entire sulphide zone (181 m)

• down hole.

• Result shows low risk low cost exploration opportunity in Mt

• Cobalt area. • First hole reconfirms AusNiCo’s positive view on the

• achievement of exploration targets.

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PEMD 1 confirms mineralisation at depth

Drillholes, Geochemistry on Airmagnetics

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Copper
Lode
Original percussion
di scovery o e r h l d ill e d o t
80m
Line of constant magnetic intensity through PEM2 nickel intercept
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More Drilling at Mt Cobalt Oxides overlie sulphides ?

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Diamond Drillhole COB 11
Surface to 96m depth
•
0 .5 8% N c i k e l &
•
0.025% Cobalt
in oxide‐clay and
hydrothermal veins
Targeting high grade
?
nickel sulphides at
depth in early 2011
Mount Cobalt Cross Section over Ma g netic section
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The importance of Coincident Magnetic and Geochem ca nomai l A lies 400 m RL magnetic depth slice showing magnetic high intersected by PEMD1 . . Also showing location of PEMD 2 Magnetic high within the Nickel and Cobalt soils constant assay contour line.

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Geochemistry Ni and Co contour lines

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The Model Holds True After Core From PEMD1

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GEOLOGICAL MODEL
Deposit Examples
SCHEMATIC CROSS‐SECTION 1 Mt Cobalt nickel oxide
2 Pembroke nickel sulphide
Hydrothermal
500m elevation
veins 3 Silver Valley copper‐silver
Nickel oxide
1
ultrabasic skarns
base of oxidation
Copper‐ sediments
3 2
& volcanics.
silver
porphyry Copper‐gold
200m elevation granite Nickel sulphides
“Serpentinite”
greenstone
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June 2010
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Multiple Nickel Sulphide Occurrences

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Neurum
Sepentinite
KilkivanKilkivanKilkivanKilkivan
Mafic intusives
Ni Sulphides in outcrop
Metasediments 7110000mN
Black Snake
Porphyry
???????????
Mt CobaltMt CobaltMt CobaltMt Cobalt
Historic Pembroke holes
PembrokePembrokePembrokePembroke
RidleysRidleysRidleysRidleys
PEM2. 50m @ 0.34% Ni, 0.02% Co ???? WidgeeWidgeeWidgeeWidgee
McCarthys
PEM3. 4m @ 0.45% Ni, 0.02% Co
KabungaKabungaKabungaKabunga
TewooTewooTewooTewoo
Ni Sulphides in outcrop
7080000mN
Historic McCarthy’s hole 00000 110101010 220202020
4.3m @ 0.2% Ni, 0.09% Co,4.6% Cu
kilometres
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Mt Clara North Mt Clara East
Mt Coora East
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Mt Cobalt West

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Mt Cobalt

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Pembroke Prospect
PEMD1 and PEMD2
N
0 m 250 m 500 m
Scale (metres)
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Mt Cobalt region has potential for multiple new discoveries based on the Coincident Magnetic and Geochem ca i l Anomalies

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World Nickel Resources & Concentrate Grades
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Cosmos
Precambrian Komatiite
Precambrian Intrusion
Precambrian Astrobleme
Phanerozoic (Noril'sk)
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Long
Phanerozoic (Avebury)
Source:
Victor
Hoatson 2006 & Trade Statistics
AusNiCo model
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Kambalda
Noril'sk Thompson Black Swan
2 Sally a ayM l
Selebi Pikwe Radio Hill Voiseys Bay Avebury
Sudbury
Perseverance
Jinchuan
Aguablanca Mt Keith
0
4 6 8 10 12 14 16 18 20 22 24
Concentrate Grades Ni%
Geoscience Australia– Dean Hoatson
& company reports
18
%
Grade Ni
esource
R
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News Flow (H1. 2011)

Sulphide Nickel Exploration and Resource Definition

• Drilling results at Pembroke Prospect (3) diamond holes followed by percussion in-fill drilling (assays released throughout Dec). •Drilling of new targets at Mt Cobalt, Mt Cobalt West, Mt Clara North, Mt Clara East and Mt Coora East.

•Follow up drilling at Silver Valley (Cu, Au and Ag).

Early Phase Exploration

•Completion of sampling across portfolio (reconnaissance work to identify potential drill targets).

• R ev ew an i d repor on , t 3 000 samp es an l d pr or i iti ze or o f f ll ow up ec D 2010 •First Pass Drilling at Kandanga and Boyne PGM’s. •Follow up Boyne South (Cr)g.

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AusNiCo Contact Details

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ASX Code: ANW
Phone: +61 7 3303 0611
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Fax: +61 7 3303 0681
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Email: info@ausnico.com.au
Website: www.ausnico.com.au
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