FIRSTWAVE CLOUD TECHNOLOGY LIMITED — Investor Presentation 2012

Feb 20, 2012

CHILLAGOE GOLD PROJECT Investor Presentation

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David Ward – Executive Technical Director
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Contents

•	Disclaimer			2
•	Contents			3
•	Company Summary			4
•	Management			5
•	NSW Projects			6
	– Southeast Lachlan Project			7 ‐ 8
	h l d – Sout ern New Eng an Project			9 ‐ 11
•	Chillagoe Gold Project			12
	– Location			13
	– Regional Geology	and Prospect Locations		14
	– Highlights			15
	– Project Background			16
	– Wandoo			17
	– Empire			18
	– Growth Strategy			19
•	Summary			20

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Disclaimer

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The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase, any security in Tellus Resources Ltd (“TLU”) nor does it form the basis of any contract or commitment. TLU makes no representation or warranty, express or implied, as to the accuracy, reliability or comp eteness l o f t hi s mater a . i l TLU , i ts di rectors, emp oyees, l agents an d consu tants, l s h a ll h ave no li a bili ty, i nc u l di ng liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from this material except liability under statute that cannot be excluded.

Statements contained in this material , p articularl y those re g ardin g p ossible or assumed future p erformance , costs , prices, resources, reserves or potential growth of TLU or, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors and risks, many of which are outside the co ntr o l o f TL U a n d it s d ir ec t o r s . Inv es tm e nt in th e secu riti es o f TL U i s co n s i de r ed t o be hi g hl y specu l a tiv e . The information in this material that relates to Exploration Results is based on information compiled by Mr David Ward who is a Member of the Australian Institute of Mining and Metallurgy. Mr Ward is a consultant to Tellus Resources Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “A us t ra as an l i C o d e f or R epor ti ng o f E xp ora l ti on R esu lt s, Mi nera l R esources an d O re R eserves ” . M r D av id W ar d consen t s to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Company Summary

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Listed 11[th] May 2011 ASX : TLU Tellus Resources Ltd is an ASX‐listed minerals Market Capitalisation $5,230,000 exploration company that has acquired a large Sh are pr ce i 1 $0 . 20 t enemen t pac k age n reg ona ew ou i i l N S th W a es l Shares on issue 26,150,000 prospective for Intrusive Related Gold Deposits (IRG). Unlisted Options 7,200,000 A key part of the Company’s strategy is to actively Cash[2] $ 2 , 956 , 000 pursue th e acqu s i iti on o , an f d/ or par ti c pa i ti on n i Closing Price 2As at 31As at 31[[st]] December 2011[[nd]] February 2012 additional advanced resource projects. The Company’s Board and management have ex t ens ve ne i t wor k s w ithi n th e m n ng n i i i d us t ry w hi c h will assist in the search for additional projects and a proven track record with a strong mix of exploration, mining and corporate skills.

1. February 2012 2. Closing Price 2As at 31As at 31[[st]] December 2011[[nd]]

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Board & Management T ony W e hb y – Ch a rman i

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Mr Wehby is a Fellow of the Institute of Chartered Accountants in Australia with more than 35 years professional experience. He was a partner with PwC for 19 years until 2000 .

Mr Wehby is the Chairman of ASX listed YTC Resources Ltd and has been a director of YTC since its listing. YTC has grown to have a market capitalisation of over $100 million. He was also previously a director of Harmony Gold (Australia) Pty Ltd.

Stephen Woodham – Managing Director

Mr Woodham has over 15 years experience in the mining and exploration industry . He has a successful track record of tenement acquisition, mining investment and commercial and cross‐cultural negotiation.

He was a founding director of both Centaurus Metals Ltd and YTC Resources Ltd both successful ASX listed mineral exploration and development companies .

Richard Willson – Non‐Executive Director

Mr Willson has a Bachelor of Accounting from the University of South Australia and is a member of CPA Australia.

He has worked in public practice and in various financial management and company secretarial roles within the resources and agricultural sectors for both publicly listed and private companies over the past fifteen years .

Mr Willson is currently Chief Financial Officer and Company Secretary with YTC Resources Ltd, and a Non‐Executive Director of Taronga Mines Ltd and Unity Housing Ltd.

David Ward – Senior Exploration Consultant

Mr Ward is a geologist with over 15 years experience in the exploration and mining industry in New South Wales . He has gained considerable experience in mineral exploration most recently as Senior Exploration Geologist with Clancy Exploration Ltd since its listing in 2007.

Mr Ward spent five years with Newcrest Mining Ltd as a Mine Geologist in both the Cadia Hill Open Cut and Ridgeway Underground Operations as well as a Resource Definition Geologist on the massive Cadia East Deposit. Mr Ward was a foundin g member of Centaurus Resources Ltd.

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NSW Projects

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Four (4) Titles
500km²
Four (4) Titles
750km²
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Southeast Lachlan Project

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Braidwood
Granodiorite NSW
Geological
Survey ‐
New
Frontiers
Initiative
Data
Released
Sept 2010
Tellus early
mover and
holds
750km²
prospective
for Dargues
Reef Style
New Southeast Lachlan
Old Magnetics IRG Deposits
Magnetics 7
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Southeast Lachlan Project

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Braidwood
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• Braidwood Granodiorite is a Magnetic Intrusion • Hosts Dargues Reef (327,000oz gold at 6.3g/t)

• NSW New Frontiers Aeromagnetics

• O pen e aeromagne fil ti cs survey ‐ re ease l d n ep i S t em b er 2010 by NSW State Government

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Granodiorite
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• New data clearly identifies additional magnetic intrusions in the area similar to the Braidwood Granodiorite

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• Tellus holds 750km² in four (4) titles prospective for Dargues Reef style ‘IRG’ mineralisation

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Old
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New
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Southern New England Project

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• Deposits hosted within the intrusions tend to be lower grade (eg Timbara 400,000oz at 1.0g/t gold)

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D on n ree C
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• Higher level deposits hosted within sediments and/or volcanics above the intrusions tend to be larger and higher grade (eg Donlin Creek >33Moz at 2.23g/t gold)

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Timbarra
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• Areas with exposed granites at surface suggest the larger higher grade deposits are likely to be ero d e d away

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IRG Deposit Model (modified from Lang et al., 1999)

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Southern New England Project

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Intrusives well
exposed at surface
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Timbarra
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• High Level Intrusives • >100 known hard rock gold workings (red symbols) • Freehold • L i i k ow sovere gn r s

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Cobark
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Tellus Titles (500km²) Upper
Intrusives present but Hunter
less surface exposure =
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less erosion
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Southern New England Project

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• No ‘modern’ exploration or drilling

• Gold veining associated with aplite dykes (intrusives)

• Underground face sampling at Standard and Mountaineer Reefs in 1996 returned grades up to 1,045g/t gold (33oz/t)

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Buried
Intrusions
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E xpose d
Intrusives
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Mountaineer Reefs
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Chillagoe Gold Project

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• Wandoo – Empire (IRG) North Queensland ‐ TLU to ac uire 100% q

• Acquisition Cost $6M (half cash/half shares)

• $2M Upfront

• Upon definition of a JORC indicated 300,000 ounce gold resource with a 3.0g/t cut‐off, remaining $4M payable (half cash/half shares)

• Intrusive Related Gold

• Granted Mining Leases

• North Queensland is host to a number of world class Intrusive Related Gold Deposits (IRG)

• Pajingo (>3M ounces gold)

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• Mt Leyshon (2.25M ounces gold)

• Kidston (4.5M ounces gold)

• Red Dome – Mungana (2.6M ounces gold, 255Kt copper, 33M ounces silver)

• R e d ome – D M ungana (IRG)

• Currently in production mining high grade zinc plus lead and copper

• Development proposed on gold‐silver resources (2.7M ounces)

• Wandoo is 13km from Red Dome

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Location

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• Chillagoe Gold Project – located in Northern Queensland

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Source: Tellus Resources

• 165 km west of Cairns

• Four (4) granted Minin g Leases

• One (1) granted Exploration Permit (Minerals)

• • Four 4 ( ) applications for Exploration Permit (Minerals)

• Tellus to acquire 100% from Premier Mining

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Regional Geology

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Loretta
30m @ 0.44% Pb, 0.3%
Zn 25
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, .
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Yum Yum
Simpson’s
4m @ 1.39g/t Au
Rockchip 31g/t Au,
197g/t Ag, 16.1% Pb
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Bluey’s Knob
Rockchip 7.9g/t Au,
360g/t Ag, 5.1% Pb
Magpie
Rockchip 3.2g/t Au,
4.81g/t Cu, 2.14% Pb
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Russian
Rockchips 10.9g/t Au,
7.38g/t Au, 6.76g/t Au
Big Reef
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3 m @ . 9 2 g /t u A
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• Well known & understood mineralisation style

• Extensive early investigation work already completed

• More than 15 , 000 metres drilled

• Mining Leases Granted

• Significant Exploration Upside

• Average hole depth at Wandoo (100m) & Empire (53m)

• Red Dome has proven depth continuity to >1000m

• Late Carboniferous Intrusions (mineralisation source) shown in red

• Locations of the intrusions is independent of the host rock

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Highlights

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Right Rocks

Right Time

• 4.8 km² Granted Mining Leases • Easy access • Low sovereign risk • Close proximity to existing mining community an d infrastructure – Chillagoe has a lon g minin g histor y

• Record gold prices • Significant upside resource development potential • Strong cash position • Tight Structure • No debt

• Intrusive Related Gold (IRG) Project – 13km f rom Red Dome – Mungana Deposit (3.5 Moz gold)

• • Similarities to world‐class Red Dome, Kidston and Pajingo gold mines

• • Cu/Pb/Zn potential

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•
Cu/Pb/Zn potential
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Project Background

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• Historical Mining in the 1930’s produced approximately 2,000 ‐ 5 , 000oz g old and 7 , 500 ‐ 12 , 000oz silver

• Last ‘systematic’ exploration carried out late 1990’s

• Kidston Gold Mines Ltd and Normandy – Mt Leyshon Joint Ventured into th e pro ec j t o b th recogn se i d th e s m i il ar iti es o t th e r own epos i d it s

• – Kidston in 1999 used $300/oz gold and $5/oz silver to calculate gold equivalents for their evaluations

• Premier Mining acquired the project in 2002

• As a private group they are not required to define JORC compliant resources and were working towards development based on shallow drillhole intersections

• Metallurgical Studies undertaken

• Mining Leases Granted

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10m @ 1.75g/t AuEq
2m @ 8.3 g /t AuE q
2m @ 6.4g/t AuEq
Wandoo
3m @ 4.37g/t AuEq •
Wides read old‐silver
p g
mineralisation
6m @ 4.4g/t AuEq
•
Shallow Drilling
•
Bayley’s Zone Open at Depth
24m @ 3.39g/t AuEq
•
12m @ 5.41g/t AuEq Three (3) Granted Mining
6m @ 23.39g/t AuEq Leases
4m @ 22.74g/t AuEq
Hardman ’ s
1930’s Mining
2.4m wide ‘lode’
2 oz/t gold
12 oz/t silver
2m @ 9.92g/t AuEq
4m @ 6.53g/t AuEq 17
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Empire
2m @ 4.45g/t Au •
Wides read old
6m @ . 3 34g/t Au p g
mineralisation
•
Assayed for gold only
(silver – base metals?)
8m @ 3.03g/t Au
•
Shallow Drilling
21m @ 2.28g/t Au
•
Open at Depth
10m @ 2.04g/t Au 8m @ 5.08g/t Au • Granted Mining Lease
6m @ 1.65g/t Au
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Chillagoe Growth Strategy

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Stage 1

• Collate all previous drilling information into a coherent digital database (COMPLETE)

⁻ 223 holes for >15,000m of drilling

Stage 2

• Confirm position and grades of existing ‘discovery’ intersections at Wandoo and Empire with follow‐up drilling

Stage 3

• Drilling ‐ Define size and grade of known discoveries

Stage 4

• Resource definition

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Summary

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• Advanced project

• Granted Mining Leases

• High grade intersections with significant upside potential

• Ex p erienced , p roven team

• Tight capital structure

• No previous focus on copper, lead and zinc potential despite zinc, lead and copper production from Red Dome ‐ Mungana

• Low Sovereign Risk

• E xposure to recor d go ld pr ces i

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www.tellusresources.com.au

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