ESTRELLA RESOURCES LIMITED — Investor Presentation 2012

Jun 25, 2012

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’ CHILE S STAR IN COPPER-GOLD

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Investor Presentation
June 2012
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Important Information Disclaimer

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• This presentation has been prepared by and issued by Estrella Resources Limited ACN 151 155 207 ( Estrella or Company ) to assist in informing interested parties about the Company and should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

• This presentation is limited to persons who are sophisticated investors for the purposes of s708(8) or professional investors for the purposes of s708(11) of the Corporations Act 2001 or persons who hold Australian financial services licences and any of their representatives. By attending and/or receiving this presentation you warrant to Estrella that you are such a person. This presentation may contain forward looking statements. Whilst Estrella has no reason to believe that any such statements are either false, misleading or incorrect, it cannot and does not warrant or guarantee that through either the passage of time or actions beyond the control of Estrella they will not become so.

• You should not act and you must refrain from acting in reliance on any of this presentation material. Nothing contained in this presentation constitutes investment, legal, tax or other advice. This overview of Estrella does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the Company’s prospects. Before making an investment decision, you should conduct, with the assistance of your broker or other financial or professional adviser, your own investigation in light of your particular investment needs, objectives and financial circumstances and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation prior to making any investment decision.

• The Company has not verified the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by law, the Company makes no representation and give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omissions, from any information, statement or opinion contained in this presentation. The contents of this presentation are confidential. This presentation is being provided to you on the condition that you do not reproduce or communicate it or disclose it to, or discuss it with, any other person without the prior written permission of the Company.

• This presentation contains information, ideas and analysis which are proprietary to Estrella. By agreeing to receive this information you also agree to respect the confidential nature of this entire presentation. Specifically you agree not to reproduce in any manner or distribute any part of the information contained herein without the prior written consent of the Company.

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Presentation Overview

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	1.		Executive Summary	4
	2.		Company Overview	5
	3.		Why Chile?	6
	4.		Projects	9
	5.		Board of Directors	17
	6.		Development Plan	18
	7.		Comparable Companies	19
	8.		Summary	20

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1. Executive Summary

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Estrella Australian based, Chilean focused copper-gold exploration company Resources Exploring and developing 4 projects (ASX.ESR) Pursuing acquisition of additional highly prospective assets in Chile Listed on the ASX in May 2012 (code: ASX.ESR)

4 Highly i. Agustina (100%): 21km[2] – Highly prospective for IOCG systems Prospective ii. Venus 100%): 90km ² – Prospective for gold exploration Projects iii. Luna (100%): 208km[2] – Prospective for epithermal style gold and copper iv. Inca (91.5%): 54km ² – Prospective for gold exploration

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Agustina Mine Adit

Key		Acquisition of Projects	May to Dec 2011
Milestones		IP Survey, mapping & sampling at Agustina	Jan 2012
		Drilling commenced at Agustina	May 2012
		A$6 million IPO completed	May 2012
		Phase 2 exploration commenced	June 2012

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Copper Ore found at Agustina

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2. Company Overview

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Estrella’s	Ongoing acquisition of high quality assets		ASX Code	ASX Code	ASX.ESR
Chilean	Focus on Brownfields projects		Share Price (as at 20 June 2012)		A$0.15
Strategy	Low Capex & Opex advantages in Chile		Market Cap (as at 20 June 2012)		A$13.1M
	Access to existing mining infrastructure		No. Shares on issue		87,101,000
	Untapped potential for large IOCG deposits		No. Options on issue		7,205,000
	Fast-track to production		Cash at bank (May 2012)		A$6,000,000
Corporate	100% owned Chilean subsidiary that owns and
Structure	manages all the Chilean assets			Board of Directors
	Significant institutional presence on the share register
				Estrella Resources
				Limited (Australia)
Board	Dr. Jason Berton, Managing Director			100%
	Gavin Solomon, Non-executive Chairman			Estrella Resources
	Julian Bavin, Non-executive Director			(Chile) SpA.
	Simon Kidston, Non-executive Director Justin Clyne, Company Secretary	Agustina Project		Inca Project Venus Project Luna Project
		(100%)		(91.5%) (100%) (100%)

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3. Why Chile?

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Why Chile?

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World’s largest copper producer

• 35% of global copper output for the last 30 years

• ~38% of global copper reserves

• Mining investment pipeline estimated to be ~US$70B (2010-2015)

• All major international miners active in Chile

• BHP Billiton, Anglo American, Rio Tinto, Xstrata, Teck Cominco, Kinross, Phelps Dodge, Barrick Gold and Newmont

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Santiago

Network

Knowledgeable Workforce

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Strategically positioned to service Asia and North America

• Export orientated country with good infrastructure

• One of South America’s most stable and prosperous nations

• Over 100 years of mining history

• Experienced and professional mining and mining services workforce

Substantial Chilean networks of Estrella’s Board & Management

Ready access to high quality workforce from La Serena School of Mines

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Chile
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3. Why Chile? (Cont)

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Mining Clear legislation and well-established procedures Regime

Favourable royalty regime

• Currently between 4% and 9% royalty on a sliding scale

• A recent Bill raises this to 5% to 14% royalty starting in 2018

• Clear foreign investment framework

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• 100% foreign ownership

• Legal Protection of Mining Concessions

• Concessions granted on a first come first serve basis

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Chile’s Parliament House, Santiago.

Small mining companies are subject to income tax at a fixed rate

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Taxation

Regime

• Mid-sized mining companies are taxed on a presumptive basis

Corporate income tax of 18.5% in 2012 and 17% thereafter

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• 35% additional tax on profit remittances to foreign shareholders

International Chile is a member of the WTO

Treaties

Chile has signed a double taxation treaty with Australia

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Free trade agreements with US, China, Canada, Australia etc)

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Early production potential with nearby processing plant

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3. Why Chile? (Cont)

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Number of Copper Mining Projects by Country

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Sources: Brook Hunt, Codelco and AON Group (May 2011).

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4. Projects

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Overview

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• 4 Projects in central northern Chile

• i. Agustina – 450 km north-northwest of Santiago

• ii. Venus – adjacent to Agustina

iii. Luna – 320 km north of Santiago

• iv. Inca - adjacent to Luna

Acquisition of quality brownfields projects facilitated by Estrella’s unique ‘in-country’ advantages

All Projects located in established mining region

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Collahuasi (Anglo Xstrata)
Escondida (BHP RIO)
2,185mt @ 0.89% Cu
121mt @ 0.81% Cu
Productora (Hot Chili)
85mt @ 0.6% Cu Pascua Lama (Barrick)
17.8Moz Au, 718Moz Ag
Huasco Port
Agustina Project
Venus (Flagship Project)
Project
Luna Project
La Serena
Coquimbo Port Inca Project
Carmen de Andacollo
(Teck) 161mt Cu @ 0.42 Santiago
Legend:
Estrella’s Projects
Chilean Cities
Shipping Port
Producing Cu Mine
Atacama Fault Zone
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Location of Projects - Central Chile.

Copper oxide mineralisation at Agustina.

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4. Projects - Agustina

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Option to acquire 100% of Agustina concessions

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Overview

Covers 4 mining leases with total area of 21.0km[2 ] Numerous artisanal copper and gold mines

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Geology “Brownfields project” highly prospective for IOCG

Mineralisation hosted in numerous fault breccia structures Agustina hosts several copper, gold and iron ore prospects

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• Some exploited historically on a small scale

• Visible controls on mineralisation de-risks exploration

Orion: Multiple artisan mines, High grade Cu with Au credits, Continuous mineralisation in fault breccias

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Prospects

Centauri: Au workings, grades of 69.25g/t in stockpiles

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Nova: Cu workings, similar faults to Orion, valid mining permit.

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Aurora: Along strike of Cu workings at Naciamento

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sample results and mapped structural trend (red line)

Location of exploration targets

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4. Projects - Agustina (Cont)

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Orion Maiden drilling currently underway

Exploration

High ‘chargeability’ IP anomalies identified

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• Coincide with high Cu & Au sample results

• >2km long, >600m wide from surface to >300m depth

• 10 targets in mineralised parallel structures (Cu & Au) identified

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• Widths up to 50m over a 4km strike length

Mineralised structures linking the parallel zones also observed

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• Good bulk tonnage potential

Mineralisation from surface on all projects

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• Significant potential to extend at depth (> 1 km)

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300 m

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IP survey with grab samples overlaid and structural trend (red line).

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A 600 m
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Cross-section view shows highly anomalous response (ying beneath grab sample 1. Highly anomalous response cfrom surface to >300m depth

Inside mine adit at Agustina

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4. Projects - Agustina (Cont)

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Exploration Program

• Soil & rock chip sampling program

• Mapping and sampling to identify mineralised structures  IP survey across known mineralised structures  Maiden drilling campaign commenced at Orion

Nov- Dec 2011 Nov- Dec 2011 Dec 2011-Jan 2012 May 2012

• 2,000m diamond drilling program

• Drilling to test artisanal mines and geophysical anomalies at Orion, Agustina

• Assay Results from initial drilling

July/Aug 2012

• Numerous local labs are located in La Serena

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4. Projects - Agustina (Cont)

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Infrastructure

Nearby Projects

Road: 6km from the Pan American Highway via good gravel road

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Rail : 10km from a rail line to port of Coquimbo. Cape gauge and currently moves 7Mt per annum

Power: Grid power available via construction of a 10km power line

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Ports: Coquimbo/La Serena (90km) and Huasco (160km)

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Processing: Concentrator facilities located within 10km of Agustina

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Water: Underground water available 13km NW of Agustina

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Andacollo (Teck Resources) – 484Mt @ 0.35% Cu (reserve)

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La Productora (Hot Chilli) – 85.1 Mt @ 0.6% Cu, 0.1 g/t Au (resource)

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Processing facility near Agustina.

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Port of
Coquimbo
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Location map of Agustina Project.

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4. Projects - Venus

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Venus 100% owned by Estrella

Overview

Located 75 km NNW of La Serena

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Covers area totalling 90 km[2]

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Highly prospective region for high grade copper-gold

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• Mineralised fault structures similar to Agustina

• Southern extension of Agustina project

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• Significant artisanal mining across entire tenement

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Significant nearby infrastructure including road access and rail line

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Agustina and Venus concessions including new tenure.

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Rail bridge 12 km north of Venus.

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4. Projects – Luna/Inca

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Luna/Inca Overview

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Luna 100% and Inca 91.5% owned by Estrella

Total area of 262km[2] of which Inca is a 54 km[2] subset

Located ~90km SE of Coquimbo

Highly prospective region for high grade copper-gold

Surrounding concession holders include

• Barrick Gold, Codelco, BHP Billiton and Teck

• Good road access across tenement via Barrick/ Codelco JV road

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Mapping and sampling at Alto del Valle located within Luna

Regional Area

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Initial sampling results include 5.2% and 5.4% Cu

Projects lie in a well-known mineralised Cu-Au region close to

• Mines: (Andacollo – Teck/Enami; Veladero; El Indio – closed)

• Pascua Lama Project (Barrick)

• Los Mantos Project (Hot Chili)

• El Milagro Project (Mitsubishi)

• Mollacas & Vallecio Project (Metminco)

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4. Projects – Luna/Inca (Cont)

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Regional NW to SE trending structural corridor: 15km strike length Geology Inca hosts five small scale Cu, Au and Ag mines including - Epithermal breccia's ranging 3-10m in width

Exploration Exploration focus: Structural Corridor with high grade bornite bearing epithermal Cu-Au-Ag systems Strategy

Exploration program:

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• Undertake stream sediment and rock chip sampling

• Undertake detailed structural mapping.

• Demonstrates Alto del Valle mineralisation continues onto Inca/Luna

• Sampling confirm Inca/Luna prospective for high grade Au mineralisation

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Locality	Cu%	Ag g/t	Aug/t
8	2.86	60.1	0.36
11	3.88	106.9	12.8
12	3.63	112.9	0.03
13	1.09	95.0	0.71

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Luna tenements and prospects.

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5. Board of Directors

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Dr. Jason Berton, Managing Director (full time)

Over 12 years mining and exploration industry experience at Barrick, Homestake and BHP Billiton.

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• Also worked as a Senior Geology Consultant for SRK Consulting and as Chief Geologist coordinating due diligence for private equity investments.

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• Specialist Structural Geologist with experience in gold, copper, uranium and iron ore.

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• PhD in Structural Geology and B.Sc (Hons), B.Ec, member of AusIMM and GSA.

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Julian Bavin, Non-executive Director

Over 30 years experience in the mining industry, with over 20 years with Rio Tinto including 8 years as Exploration Director – South America.

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• Current Exec. Director of Pan Global Resources Inc. & Non-Exec. Director of Exeter Resources Inc.

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• BSc Mining Geology (Hons), MSc Mineral Exploration, Member of Institution of Mining & Metallurgy, Chartered Engineer & Fellow of Society of Economic Geologists.

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• Based in Santiago de Chile and Spanish speaker.

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Gavin Solomon, Non-executive Chairman

• Over 30 years experience in Australian and international equity and capital markets.

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• Lawyer by background and experienced Director of ASX listed companies.

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• Founding shareholder and continuing Nonexecutive Director of Endocoal Limited (ASX:EOC).

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Simon Kidston, Non-executive Director

• 20 years investment banking & equity capital markets experience in Australia, UK and Asia.

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• Former Director and co-founder of Endocoal Limited (ASX:EOC)

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• Founding shareholder and continuing Nonexecutive Director of Carabella Resources Limited (ASX:CLR).

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6. Development Plan

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Indicative Timing	Jun 12	July 12	Aug 12	Sep 12	Oct 12	Nov 12	Dec 12
Maiden Drilling Program – Orion (Agustina)
Trenching, Mapping & Sampling – Centauri (Agustina)
Drilling at Centauri (Agustina)
Reconnaissance Mapping & Sampling (Luna)
IP & Magnetics Survey – Orion North/West

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7. Comparable Companies

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Company	Share Price	Market Cap (Diluted)	EV ($m)	Cash ($m)	Resources	Location	Status
Mandalay (TSX)	$0.58	$163.3	$148.50	$14.8	N/a	Chile	Producer (Au, Ag, Sb)
Hot Chili	$0.42	$89.9	$79.10	$10.8	85.1Mt @ 0.6% Cu and 0.1g/t Au	Chile	Exploration
Latin Resources	$0.26	$47.0	$43.60	$3.4	N/a	Chile	Exploration
Metminco	$0.12	$201.1	$157.10	$44.0	943Mt @ 0.37% (3.5 Mt Cu).	Chile/Peru	Exploration
Alara Resources	$0.32	$66.3	$37.30	$29.0	N/a	Chile	Exploration
Estrella Resources	$0.15	$13.1	$7.1	$6.0	N/a	Chile	Exploration

Comparison between ASX and TSX listed Chilean focused Companies (as at 21 June 2012).

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8. Summary

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• Highly prospective near surface targets identified at Agustina Project for IOCG structures.

• “Drilling has commenced” – targeted exploration program to fast track drilling at Agustina.

• On-ground presence and strong “in-country’’ skills within Board and Management team.

• Large IP anomaly measuring 1.5-2km long, 600m wide and 300m deep from surface already identified.

• South America is an attractive destination for a junior miner.

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Centauri gold mine adit, Agustina Project, central Chile (Au sample 13.15 g/t).

• Estrella concurrently pursuing numerous high quality acquisitions

Strong potential for near term exploration upside

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