GREENWING RESOURCES LTD — Investor Presentation 2007

Sep 9, 2007

Production & Discovery

Excellence in Mining & Exploration

Don Boyer Chairman , Bass Metals Ltd

Discussion Outline

Corporate snapshot

Overview of the assets – gold, base metals & nickel

Base metals – in more detail •Que River Mine •Advanced projects •Early stage

Looking Ahead- at base metals business

Bass Metals Ltd is a discovery & development company.

Its objective is to develop profitable mining operations from mineral discoveries or acquisitions. This is the means to achieve the prime objective of increasing shareholder's wealth.

In Tasmania the Company has a twin strategy of building a profitable base metal ore production platform and maintaining an active exploration programme to discover new large scale ore deposits.

Disclaimer

Statements contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, 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 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.

Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

Introduction

Northwest Tasmanian focusListed on ASX in Oct. 2005(codes are BSM & BSMOA) Capital Structure • Shares: 89.4M• Listed Options: 4.2M •Unlisted Options: 4.2M

Mkt Cap. c.\$28M (price of \$0.31)

This is Elephant Country – an Intensely Mineralised geological terrain

• • Area includes diverse large scale, high grade mineral deposits such as:
• •Hellyer (Zn-Pb-Cu-Ag)
• •Que River (Zn-Pb-Cu-Ag)
• •Rosebery (Zn-Pb-Cu-Ag)
• •Henty (Au)
• •Mt Lyell (Cu-Au)
• • Renison(Sn)
• •Mt Bischoff (Sn)
• •Avebury (Ni)

Project Overview

Que River Mine project

75km south of Burnie

4km south of Hellyer deposit 42 km by road from Rosebery Excellent infrastructure

Que River Mine Project Introduction

• •Mined from 1978 to 1991.
• • VHMS mineralisation style – mineralised lenses, which typically occur in clusters.
• • Hellyer (4km N) discovered in 1984 by same Company.
• • BSM is first new explorer since the mine closed.
• • BSM's initial focus has been shallow targets.
• • Existing infrastructure makes early mine start-up possible.

Que River Mine Project Resource Profile

QR32 - 188kt at 5.5% Zn, 3.3% Pb, 79g/t Ag & 1.1 g/t Au

Nico – 102kt at 8.6% Zn, 4.9% Pb, 111g/t Ag & 0.9g/t Au

PQ – 46kt at 17.1% Zn, 9.4% Pb, 231g/t Ag & 5.7g/t Au

S-North – 95kt at 8.1% Zn, 2.7% Pb, 0.6% Cu & 46 g/t Ag

S-Central – 72kt at 5.6% Zn, 2.8% Pb, 2.2% Cu & 89 g/t Ag

S-South – 233kt at 1.3% Zn, 2.3% Cu & 59 g/t Ag

Refer recent ASX Release for complete Mineral Resource details

Que River Mine project Stage 1 development plan

Looking SW at completion of Stage 1 mining phase Stage 1 – c. 120kt at 8% Zn, 4% Pb, .7% Cu, 99g/t Ag & 2g/t Au Plan is Stage 1 of a 4 stage mining plan spanning 3 to 5 years

Que River Mine project Work has commenced

Project is managed for BSM by local experienced mining group Mancala Mining Pty Ltd under an Alliance contract.

Mancala's drill & blast rig

Stage 1 Mine Life – 26 months

Operating costs – A\$175/t of ore sold (after all costs & royalties)

Que River Mine project Work has commenced

Simple mine plan – shallow open pits, selective mining

Que River Mine project Stockpiled ore

Zinifex Ore stockpile

Polymetallic ore containing Zn, Pb, Ag, Au and Cu

Ore Sales Contract signed with ZFX – 5,000 to 8,000t per month. On track for first delivery in late September 2007 Favourable Payment terms - 40 to 45% of contained metal value

Que River Mine Project Stage 1 upside potential

PQ South – targets high grade remnants.

Excellent potential for additional tonnage from abandoned Underground stopes, to be exposed in open cut.

Que River Mine Project growth potential-stages 2 and beyond

• 1. Deep geophysical target
• 1. S Lens position north of decline fault
• 1. Shallow northern extension to QR32 Lens
• 1. Shallow northern extension to Nico Lens
• 1. Deeper drilling in alteration zone south of Que Fault
• 1. Gaps in PQ ore horizon at shallow depths to north
• 1. P West stringer and disseminated mineralisation between PNth and QR32 Lenses

Advanced Base Metals Projects Hellyer Mine Project – New Targets & Resources

Hellyer Mine Project world class high grade VHMS deposit

Hellyer Mine Project New Zn & Cu targets

5m at 0.4% Cu, 6% Pb, 9% Zn, 13oz./t Ag & 5.4 g/t Au 6m at 1.1% Cu, 11% Pb, 24% Zn, 5oz./t Ag & 2.6 g/t Au

Hellyer Mine Project Remnant Resource Potential

•6 remnant areas identified with resource potential of 0.6 - 0.7Mt at @ 8% Zn, 5% Pb, 3oz./t Ag and 2 g/t Au. •Scoping study evaluating mining opportunities starting

Earlier stage base metals projects Hellyer-Zinifex Alliance

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• 50:50 Exploration alliance with ZFX, managed by BSM.
• VHMS systems occur in clusters – high potential along the Hellyer-Que trend.
• New alteration system discovered – Switchback with anomalous base metal sulphides –HED12
• Follow-up drilling and DHEM in progress.
• •Best target to date

Looking ahead - activities & priorities (Base metals)

•Mining - Que River:

• Commence production
• Increase Ore Reserve beyond Stage 1
• Increase Resource base from 730kt

•Advanced Projects

(Hellyer, Farrell & Magnet)

• Hellyer Scoping study mining opportunities
• Drill resource targets increase resources

•Exploration Targets

(eg.Iris River, Nth Rosebery, Oonah etc)

• Delineate targets
• Drill targets identify resource potential
• New Discoveries

Twin strategy of developing production assets & working to make a major new discovery

Developing Mines - Actively exploring for "Elephants"

Find out more at Booth 34 or

www.bassmetals.com.au