CONICO LTD — AGM Information 2009

Nov 19, 2009

Ltd Fission Energy

Presentation to AGM 20[th] November 2009

Ltd Fission Energy

Co-Ni Oxide Deposit Nickel Sulphide Exploration Mt Thirsty, WA Uranium Exploration SA & WA

Ltd Fission Energy

Mt Thirsty Project: Location and Regional Geology

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Ltd Fission Energy

Mt Thirsty Co – Ni Oxide Deposit

• Fission has 50% interest (Barra Resources other 50%)

• -

• Indicated Resource 15 Mt at 0.14% Co, 0.59% Ni, 0.99% Mn

• • - Inferred Resource 14 Mt at 0.11% Co, 0.52% Ni, 0.77% Mn

• • Total Resource - 29 Mt at 0 12% C. 0 56% Ni 0 88% Mn o, . , .

• Atmospheric leach test work:

– Up to 75% Ni & 99% Co recoveries

– Not typical laterite - Autoclaves not required

Ltd Fission Energy

Mt Thirsty Co – Ni Oxide Deposit

• Totally oxidised ore, fine, friable, no drill/blast

• High grade Cobalt

• Mineralogy – mostly iron oxides and clay

• Shallow depth, strip ratio 1.4:1

• Excellent recoveries; simple robust processing

• Excellent infrastructure, close to:

– highway, railway, gas, water – Norseman townsite, Esperance port

Ltd Fission Energy

Mt Thirsty Co – Ni Oxide Deposit

• Potential recoveries to 33,000t Co, 133,000t Ni & 247,000t Mn

• Potential products: Co & Ni sulphide, Mn carbonate

• Testing shows relatively low acid consumptions (<250 kg/t)

• Detailed metallurgical testwork continuing …

• Pre-feasibiltiy study early 2010

Ltd Fission Energy

Mt Thirsty Co-Ni Oxide - Simplified Flowsheet

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Ltd Fission Energy

Mt Thirsty Co – Ni Oxide Deposit

Cross Section at 6,447,970N TOP Drill chips from oxidised ultramafic profile showing ore EOH zone

Resource Outline (Plan)

Ltd Fission Energy

Mt Thirsty Nickel Sulphide Exploration

• Low grade Ni sulphide mineralisation intersected in recent deep diamond drill hole (MTDD008)

• Thick ultramafic sequence identified

• –

• Wide lava channel interpreted potential host for nickel sulphides at basal footwall contact

• Downhole EM conductors defined

• Drill testing continuing …..

Ltd Fission Energy

Mt Thirsty Nickel Sulphide Exploration

Ni Sulphides dragged up from basal footwall contact during dyke intrusion?

Ltd Fission Energy

Wynbring and Garford Palaeochannel Locations

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Ltd Fission Energy

Wynbring

Pundinya Prospect Thickness - grade contours red area (higher grade core): +1000 m* m U O pp 3 8 Higher grade zone may extend to south along eastern margin of channel

Ltd Fission Energy

Competent Persons Statement

The information in this presentation that relates to Exploration Results and Activities is based on information compiled by Michael Glasson and Robert Smith, who are Members of the Australian Institute of Geoscientists. are consultants to the Company. Mr Glasson and Mr Smith have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the which are to as activity they undertaking qualify Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Glasson and Mr Smith consent to the inclusion in this presentation of the matters based on their information in the form and context in which it appears.