GREENWING RESOURCES LTD — Investor Presentation 2006

Jul 27, 2006

BASS METALS LTD ABN 31 109 933 995

28 July 2006

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

Dear Sir

Re: New Regional targets

Bass Metals Ltd will present the attached slides to the Exploration Forum being hosted by the Tasmanian Minerals Council and Mineral Resources Tasmania this morning.

Whilst the presentation titled, "Four in One" deals with the Company's four distinct exploration initiatives:

• 1. Que River (advanced base metals)
• 1. Mt Charter (advanced gold-silver-zinc)
• 1. Hellyer Exploration alliance with Zinifex; and
• 1. Regional exploration.

It specifically refers to three examples of regional exploration targets recently identified and not previously reported to the ASX. The three examples were selected because they present to the Exploration Forum the exploration potential on the Company's leases for a diverse range of commodities such as gold, base metals, tin, nickel, iron and platinum group metals. Significant, indeed world class deposits for nearly all of these deposits occur around Bass Metal's projects and the Directors consider that there is excellent potential for further discoveries of this type.

Yours sincerely

Mike Rosenstreich Managing Director

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.

ANS NEIGHT L New Target 20 South
True Thicknes s(m)			Zn (%) Pb (%) Ag (oz./t) Au (q/t)
13	26	13	12	8.1
13	16	9	9	8.2
10.5	19	10	10	7.6
4	21	12	8	6.2
8.8	7	$\overline{\mathbf{3}}$	$\overline{2}$	1.1
3.3	18	11	6	6.6
15.7	20	12	10	7.9
14.6	12	7	5	6
14.2	19	11	10	6.8

ASSAUDS SA 3. Hellyer Exploration Alliance $\sim$ 50:50 allance with Zinifex Linited. Inanaged by BSM. · Objective is to discover a new Hellyer deposit on the Hellyer Project. • Planning to spend c. \$1.7M in next 12 months -mainly on drilling. • 13 highly ranked target areas identified. · Drilling campaign started to test targets.

As WASSENGS - Summery

IL QUE RIVET

• Open plabe Resource establement win plany of hoside.
• Potential high margin operation planned staff iniswaar
• Mancala alliance provides operating skills and local knowledge.

2 - M70 M61

• Shallow large scale Au-Ag system
• $\cdot$ Close to infrastructure roads, plants & power.
• Emercing zinc credit and possibly bartie.

Albanya Kata 4. Initiatives - Summary

SAFEIVER Exploration Allance

• 18 new larget areas.
• Drillite Statictol

Positive indications so far for geological model and A Marchischich Aordanici

4 Regional Brotoretton

redonal tenements (1200km2) with targets for a diverse range of commodities and deposit styles. Over 60 regional targets ranging from "drill-ready" to targets requiring further ground mapping. Sampling. Geochamistry and geophysics.

Al targets are located with reasonable access to Final Accounts of the Contract of the Contract of the Contract of the Contract of the Contract of the Contract