GREENWING RESOURCES LTD — Investor Presentation 2006

Nov 19, 2006

20 November 2006

The Manager Companies Company Announcements Australian Stock Exchange 20 Bridge Street Sydney NSW 2000

Dear Sir

RE: ROAD SHOW PRESENTATION

The Company's Managing Director is presenting the following exploration update to investor and broker groups around the country.

The presentation will also be available on the web-site at www.bassmetals.com.au.

Yours sincerely

Susan Hunter Company Secretary

The information within this report that relates to exploration results is based on information compiled by Mr Mike Rosenstreich who is a full time employee of the Company and a member of The Australasian Institute of Mining and Metallurgy. Mr Rosenstreich has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity currently being undertaken 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 inclusion of this information in the form and context in which it appears in this report.

BASS MEDALS THE

Exploration Update & Other Elephants!

IC November 2006

D. MIKe Rosenstreich Managing Director

BASS METALS THE

An Important Notice

• A Statements contained in this material, particularly. Inosenegarding possible orassuried future performance, costs, dividends, production levels or fates, prices, reserves or potential growth of Bass Metals Ltd, industry growth or other trend projections are, or may be, forward-looking statements. Such statements relate to future events and expectations ánd, ás such, involve known áhd unknown risks and uncertaintles. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a Variety of factors.
• · Nothing in this presentation should be constructe as effner en offer fo sell or a solfoftetton of an offer to buy or sell shares in any jurisdiction.

BASSMERARSHIP Australian listed Australian explorer

Focused ØĤ Tasmania

BASS MERALS THE

Iaroesitiement Interests in one of Theirest inineralised geological provinces in the WOTCL...Eephant Country!

Dominant land postifon

·Active explorer.

5 400 000mN (Zn-Pb-Cu-Ag-A Que River EL16/2006 Pinnacles Mt Charter EL36/2003
Whyte River EL03/2005 Huskisson EL48/2003 Renison SAR's EL54/2004 EL36/2005 North Rosebery Paradise River Sn 7 Renison EL 63/2004 IGCAL MEIALEN EL 55/2004 SAR's CAMBRIAN VHMS Ierculos L'ecosét 6 Henty $\sum$ 5 360 000mN 9 Avebury Hentv 4 Heral EL29/2002 5 Que Ri Au) DEVON Deposit 6 Heaty Avebury (Ni) 7 Penison $31.1$ Mt Lyell BASS MET/ Cu-Au)

EL02/2005
Lynchlord

TENEMENT LOC

PLAN

EL 38/2005
Grass Flidge

Bischoff¹ EL 53/2004

HELLYER PROJEC

Hellyer & Que

RIVER

(Zn-Pb-Cu-Ag-Au)

EL51/2004

Wilmot

Roseber

360 000mE

EL 64/2004

Dе.

EL31/2003
Heazlewood

Savage River

Mt Bischoff

$(Sn)$

BASS METALS THD

With BSM you get "Four in One"

• 4 active exploration & development Thitetives.
• 1. Que River high margin mine development. 2. Mt Charter – shallow large scale Au-Ag (+Zn) profect:
• 1. Zinifex Exploration alliance at Helyer "new Hellyers".
• 1. Dominant regional tenement holder, new technology, new data; 60+ new targets:

BASS METALS LID Que River Base Metal (+ Au) Project 390 000mE 392 500mE - 5.397 500mN

BASS MELALS CHO QUERVER Profect

Mined from 1978-91.

n

7

2

Helverickscovered in 1934. by same operator. BSM is HIGHTSUTEWOXOLOTET Since Garly 70'S

Numerous remnant resources and fargets. Note new resource upgrades.

Initial focus is on shallow, high grade zones for open MIS.

Potential for a Significant 2 mining project with minine i Geriex.

BASS METALS THE Que River project - New Resource- PQ South

• Currently testing remnants – 1^st hole hit 19.4m at 9% Pb, 25% Zn, 356 g/t Ag & 11 g/t gold

RSIOITHE IN USE CAVILIES NE ROMANE TO HOME THE MODEL SENSE

BASSMBLARS BRAGGE - PROGRESSING ODTONS Ore Sales to Hellyer JV is preferred option-under

neduction.

• Closer haulage distance (4km) & greater operation fiexibility.
• Positive metallurgical Ľ results for Que Rivertore through the Hellyer Plant Base Case = Pb-Zn-Ag to K Hellyer Zn Conc.
• Optimisations include gravity gold and flotation recovery of Au, Ag & Cu.

N

▁

Discussions progressing toward an Ore Sale Agreement

INSTALLATION

Ľ

Z

3

Que River Profect – An exciting future

• Currently have a Stage 1 Mine Elatione (2018) or .
• Stages 2-3 (under evaluation) include Nico Lens, S-lens South, P North & QR32 as possible open ells,
• Stage 4 contemplates underground access to S-lens Deeps, remnant and new ore lenses in near vicinity to main PQ IQIS
• Further potential:
• existing geophysical anomaly beneath S-lens with anomalous Cu intersected to the south; and,
• A further geophysical targets beneath main PQ1 ens SYSISIO

INSIVERAS AD 14 A realistic early cash flow opportunity -WHATCROWH DOICHREIS -Potentially high margin ore .Mining alliance with Mancala to run all operations . Scoping study - up to \$9.0M cash surplus, d Enhandementstunderway – Stomhoard ENDIOVERSITEITEITEITEITEITEI POISOISSIONSIONOISSENSEN VENCEO WHALEUVER PIOIDIAVEDIU GREIDE DIEJGI (ETORODI OD SR: Hoochishi kolokovkeli e Riverinto a sighilicani mining to forest?

BASS METALS THE Mt Charler Au-Ag (Zn) Project

Large, shallow gold-silver system.

No systematic gold evaluation -always a base metal target!

IMANDE ANTIL Mt Ghairter Au-Ag (Zn) Project

New Mineral Resource - 240koz (380Koz Au(eq)).

• Met testwork indicates overall Autecovery of c.95% through flotation and cyanteation of float THE LE
• Ongoing met. work to CRSSSS DIOGRSSITO options for the gold bearing concentrates.

Ľ

2

D

• Process of matching met. results with IESOurce Scale potential i.e. available resources to justify different processing Golfons.
• Also opportunities to extract Zniand Ba belite tested

0 7g/t Au cut-off
Category	Tonnes	AU	Ag	Ba	Au.	Ag	$Au$ (eq)*
	Mt	q/t	g/t	$\%$	koz	koz	koz
Indicated	19	1.21	36.3	9.1	74	2,218	118
Inferred	4.2	1.22	35.2	10.0	165	4,754	260
Total	6.1	1.22	35.5	10,0	239	6,971	378

Summary of Classified Mt Charter Mineral Resource

* Au (Eq) is based on Au & Ag price only, US\$590/oz and US\$11.80/oz respectively to give a Ag to Au ratio of 50.1.

MAXIM DAKINE

Heliyer Exploration Alliance (HEA)

• 150.50 alliance with Zinifex Limited (ASX74FX), managed by BSM.
• Statulog 6¹⁰ hole of an initial 19 hole programmer
• To date positive geological data 2 Supporting the new geologieal models -Tois of sinokel
• Maxister is down hole geophysics to
  "find the fire" Le, conductive body of Pb-0 ZA CUEACEAU ministristion.
• Exploration technology alliance with 2 Geomornatos Exploraton (18XV.GXL), proven ore finders.
• Planning to spend c. \$1.7M in next ŋ 12 months – mainly on drilling.

Geoinformatics Exploration Inc.

$(TSX-V:GXL)$

BASS METALS THE RACIORAL TERRICIS

• Elephant Hunting! Cardinal
• Dominant ground Contract Contract Contract Contract position in prospective PICES
• $\sim$ 8 months "lab" work to generate 65 targets prospective for new large scale deposits.
• Results starting to energe eg North ROSEOGN

BASS MEIALS LED Regional Exploration

• Akinalong Sirike firom the Roseloery Mme
• · Same geological TGATUTAS 2S Rosebery - faults & radks
• · Ceophysical anomalios
• · Target close to drill-ICE ON

INSKIPARTIE Regional Exploration - historic targets GJG. Magnet $G35C$ 6360 Guile 8382

A Magnetihistorie production -630kt at 6% Pb & 894g/t Ag also 7.3% Zn.

•At the time the Zinc was a contaminant in the ore and so avoided.

•BSM considers potential for extensions which could augment a Que River mining project.

.Similar opportunities at Mt Farrell and Oonah for extensions/repeats of high grade lodes.

BASS METALS THE Corporate Details -ASX:BSM/BSM

· Listed in October 2005 Number of Shares: Z. Options: listed + unlisted: E

MKt Cap. (at 29 cents): E

688 million 11.4.million S18 million

BASS METALS THE Corporate Data

• PIRCOICE
• Don Boyer (C), Kierah Rodgers & Graig McGown (NEDS)
• * Management:
• * Mike Rosenstreich (MD)
• Stephen Ross (GFO)
• Travis Murphy (Exploration Mgr-Tasmania)
• Susan Hunter (Coy. Secretary)
• · Major Shareholders: Intec Ltd (ASX: INL) - 18.5% Safacen Minerals (ASXtSAR) = 10.1% Santa Mada 243%

BASS METALS THE

Sumnary + Bass Metals Ltd

• An active explorer
• PA Byoloring in "Elephant country" for Elephants
• · Production plans for Que River
• · 5 Geologists & 2 drill rigs generating news.
• · Key alliances
• Zinifex global zinc producer
• Geoinformatics proven ore finder
• · 4. key initiatives underway to generate State ao toter value.

ANTISAN ANG KATIFIKA ANG KATANG