DEVEX RESOURCES LIMITED — AGM Information 2012

Nov 26, 2012

A G M P r e s e n t a t i o n – 2 7 N o v e m b e r 2 0 1 2

27[th] November 2012

A G M P r e s e n t a t i o n – 2 7 N o v e m b e r 2 0 1 2

Disclaimer and Competent Person Statement

 Forward Looking Statements

• This Presentation may include statements that could be deemed “forward-looking statements”. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those expected in the forward-looking statements or not take place at all.

 No offer to sell or invitation to buy

• This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in Uranium Equities Limited, and no part of this Presentation forms the basis of any contract or commitment whatsoever with any person. Uranium Equities Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.

• Disclaimer

• Whilst care has been exercised in preparing and presenting this Presentation ,to the maximum extent permitted by law, Uranium Equities Limited and its representatives:

• make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;

• accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and

• accept no responsibility for any errors or omissions from this Presentation.

• Receipt of this Presentation

• If the recipient of this Presentation has signed any confidentiality or similar agreement covering information of the type herein contained, then the Presentation and all information therein is received subject to that agreement(s).

 Competent Person Statement

• The information in this presentation that relates to Exploration Results is based on information compiled by Mr Grant Williamson, Geology Manager – Exploration for Uranium Equities Limited, who is a Member of the Australian Institute of Geoscientists. Mr Williamson has sufficient experience in the field of activity being reported 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 release of information in the form and context in which it appears here.

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A G M P r e s e n t a t i o n – 2 7 N o v e m b e r 2 0 1 2

2013 - Positioned For Growth

• The PhosEnergy Process (UEQ 27% and Manager)

• Demonstration Plant operated in 2012 – confirmed cost assumptions and scalability

• PFS level Engineering Study to be completed Jan 2013

• Exploration Consolidation

• Land swap with Cameco allows right to move to 100% of Nabarlek Project while retaining a free-carried 15% interest in the Rudall River JV;

• Strategic Investment in Energia Minerals (ASX:EMX) allows access to a growing resource in Australia’s next ISR district:

• Current resource 12Mlb @ 390ppm

• Recent drilling indicates resource extensions to the North in ongoing program

• • Low capital intensity ISR mining method in very active district

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The PhosEner Process gy

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…..reviving uranium recovery from the phosphate fertiliser industry……

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A G M P r e s e n t a t i o n – 2 7 N o v e m b e r 2 0 1 2

Scale of the O ortunit pp y

More than $1 billion in potential revenue per annum.

• Worldwide >140Mt phosphate processed annually.

• ~20 million lb of contained U O 3 8

• Proven reliable uranium source

• Multiple potential development opportunities globally.

• Major Phosphate Production:

• Group OCP (Morocco)

• Mosaic Co (USA)

• PCS (USA)

• IFFCO (India)

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3.5 $140
3.0 $120
2.5 $100
2.0 $80
1.5 $60
1.0 $40
0.5 $20
0.0 $0
1978 1988 1998 2008
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Over 5 Mlb produced in the US in the 80s and 90s

• Increase in planned Phosphate production out of production centres containing high uranium in North Africa*

• Source: IFDC Market Report June 2011 – World Phos Acid Capacity

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The PhosEner Process gy

The change required to rejuvenate an industry.

• Developed by UEQ in partnership with:

• Australian Nuclear Science and Technology Organisation (ANSTO).

• A major US based phosphate producer.

• PhosEnergy is a “bolt on process” to recover U3O8 as a by-product at existing phosphate production facilities.

• PhosEnergy applies conventional technologies in an innovative manner to achieve:

• Low operating cost - 20 – 25 US$/lb

• Industry competitive capital intensity ~ US$100/lb/a

• High uranium recovery - over 92%

• Improved environmental outcomes - reduced waste

Without material impact to the phosphate process.

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UEQ’s Share Funded

Technology developed and funding in place.

• Partnered with Cameco – One of the world’s largest uranium producers (Invested US$12.5M of which ~US$2M on hand June 2012)

• Cameco can fund an additional US$4M to complete its earn-in to 73% of the technology

• UEQ retains 27% of the jointly owned entity

• Cameco has agreed to fund at least 50% of UEQ’s first facility capital requirements (terms to be negotiated)

• Cameco purchased the Founders 10% share of the technology for US$4.5M in August 2011.

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Above: The process has been tested at pilot scale at an operating fertiliser production facility, and on 3 different acid sources.

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Movin PhosEner into Production g gy

2012/2013 Development Plan

• Demonstration Plant – Operated in the USA through August 2012

• Process successfully replicated

• Confirmed high uranium recovery of over 90%

• Supported operating cost assumptions

• PFS level engineering study to be completed early 2013

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The Demonstration Plant constructed in 2011 is built inside two 40ft side opening shipping containers.

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Commercialisation Strate 2013 gy

• USA Focus

• Existing regulatory framework and precedent – shorter lead time

• ~ 6Mlb/a of recoverable uranium

• Existing synergies with Cameco operations in the USA

• Commercial model based on demonstration plant results and PFS output providing:

• Commercially attractive opportunity to Phosphate producers

• Technical solution and engineering support

• Regulatory and stakeholder support

• Product off-take

Near term production visibility

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Exploration

Australia’s Premier Uranium Districts.

Near mine exploration and externally funded Greenfields exploration in world class uranium provinces with enviable partners…

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Nabarlek Mine Lease 1988
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Nabarlek Project

The place to find world class deposits.

• Alligator Rivers: A world class Uranium province.

• Nabarlek Mine: Closed in 1988. Mined 24.8Mlb U3O8 @ 1.84% with surface projection of 200m x 50m

• Nabarlek Project: 477 km[2] in the heart of the Alligator Rivers Uranium Field including:

• MLN962 UEQ equity 100%.

• West Arnhem Joint Venture with Cameco (UEQ earning 100%)

• Headwaters Project: Over 2000 km[2] of granted tenements.

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WAJV – U40 Pros ect p

U40 and structural repetitions.

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Pitchblende
blebs in
NAD7492
core
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• 2010 diamond drilling returned (see ASX release 21/12/2010):

NAD7492

6.8m @ 6.71 % U3O8 from 75m

7.3m @ 1.68 % Cu from 74.5m

4.5m @ 0.91 ppm Au from 76.5m

• 2011 Exploration results:

NAD7504 1.85m @ 0.35% U3O8 NAD7506 0.5m @ 0.16% U3O8 0.6m @ 0.13% U3O8

• Gravity Survey over prospective QFZ.

• U40 analogous targets identified

• UEQ earning 100% of JV subject to Cameco clawback rights (to 51%)

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WAJV – U40 Pros ect p

2013 Drilling program.

• Following up from 6%+ uranium found in the Quarry Fault Zone in 2010

• Additional targets on the Quarry Fault have been identified.

  • U40 East

  • U40 Southeast

  • U42

• Proposed Work Program:

• 4000m RC drilling on U40 East and U40 Southeast targeting high grade uranium

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Oodnadatta & Marla Projects

• ~16,000 km[2] of ELs & ELAs on the northern margin of the Gawler Craton (UEQ 100%)

• Prospective for IOCGU deposits

• Co-incident magnetic and gravity highs identified in Todmorden Target Area (Right)

• $90,000 PACE 2020 co-funding grant for drilling in Todmorden Target Area

• Gravity survey Completed in May 2012 – interpretation and modelling ongoing

Coincident Magnetic and Gravity Targets identified from 2012 Gravity Survey

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Rudall River JV

Brownfields exploration adjacent the Kintyre Deposit

Project: Rudall River JV

• UEQ Free Carried 15%

• Cameco Earning to 85%

Previous Exploration:

• Excellent geochem database

• Recent GA Airborne EM survey over Patterson's district

• Adjacent the Kintyre deposit purchased by Cameco/Mitsubishi for US$495 million in 2008

2012 Plan:

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Nabarlek Mine Lease 1988
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• Progress project to granted status

• Prepare work program

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Strategic Investment in EMX

Strong Preliminary Resource – view to expansion

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•
•
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• Energia Minerals (ASX:EMX)

• UEQ acquired 15% in EMX via placement;

• Subsequent to current rights UEQ to hold up to 21.1% of EMX expanded capital

• Carley Bore Uranium Deposit:

• Currently 12Mlb @ 390ppm U3O

• Recent drilling confirms extension of mineralisation to the North Nabarlek Mine Lease 1988

• Ongoing 10,000m drilling program to identify further resource extensions.

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Carnarvon Basin ISR District

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Australia’s next ISR District

• Carnarvon Basin

• ISR amenable conditions

• Relatively shallow – low capital intensity

• • Manyingee - Paladin Energy (ASX:PDN)

• Resource*: 24Mlb @ 0.09% U3O8

• • Additional Target*: 11Mlb @ 0.1% U3O8

• • Progressing to development

• Bennett Well - Cauldron Energy (ASX:CXU) Nabarlek Mine Lease 1988

• Current resource** 4.8Mlb @ 300ppm U3O8

• Paladin Energy website 19 Nov 2012

• ** Cauldron Energy website 19 Nov 2012

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2012/13 Strate gy

High Impact Exploration and PhosEnergy Commercialisation

: PhosEnergy

• Progress the Technology through Demonstration and PFS level Engineering Study;

• Seek additional pipeline projects to utilise Demonstration Plant asset.

• Exploration:

• focus on:

• Targeted near mine exploration; and

• Progressing a joint venture strategy on UEQ’s portfolio of early stage exploration projects which, if successful, will have a significant effect on shareholder value:

  • IOGC + U projects in South Australia

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ASX:UEQ

Capital Structure and People

Capital Structure

Shares

265M

Fully Diluted 274M Market Cap @ 3.5c $9.3M Cash (30 Sep) $1.8M

__________ Major Shareholders % UEQ Directors 16.7% (Tim Goyder 14.6%) Balfes (QLD) Pty Ltd 4.5% Resolute Mining 4.3% Top 20 57%

Board

Tony Kiernan Chairman Bryn Jones Managing Director Tim Goyder Non Exec Director Tom Pool Non Exec Director

__________ Management

CFO & Company Secretary

Rolf Heinrich

Grant Williamson Manager Geology Nabarlek Mine Lease 1988 - Exploration James Davidson General Manager Urtek

Nabarlek Mine Lease 1988 - Exploration

Major Shareholdings at 23 November 2012

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