GROUP 6 METALS LIMITED — AGM Information 2012

Nov 20, 2012

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Annual General Meeting 21[st] November 2012 Review of operations Simon Bird CEO

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Disclaimer…

This presentation has been prepared by King Island Scheelite Limited (“KIS”) as a summary of its King Island Scheelite P ro ec j t . s or genera n orma It i f l i f ti on purposes on y. l

This presentation is not and should not be considered as an offer or invitation to subscribe for or purchase any securities in KIS, or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in KIS will be entered into on the basis of this presentation.

This presentation contains certain forward‐looking statements which have not been based solely on historical facts but, rather, on KIS current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of KIS and its directors, officers and advisers.

This presentation contains Exploration Targets which are conceptual in nature where there has been insufficient exploration to define full mineral resources and it is uncertain that further exploration will result in the determination of a Mineral Resource.

Due care and attention has been taken in the preparation of this presentation. However, the information contained in this presentation (other than as specifically stated) has not been independently verified for KIS or its directors and officers, nor has it been audited. Accordingly, KIS does not warrant or represent that the information contained in this presentation is accurate or complete. To the fullest extent permitted by law, no liability, however arising, will be accepted by KIS or its directors, officers or advisers, for the fairness, accuracy or completeness of the information contained in this presentation.

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This year

 Completed DFS for Dolphin Project

 EPA approvals for revised plan

 Market conditions deteriorated

 Capital raising completed

 Cost structure reduced

 Board changes

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Our projects

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----- Start of picture text ----- Dolphin Project (100%)tungsten over $2B in‐situ value DFS, title and approvals in placeCurrie Development readyVictoriaBalfour Project (70%)tin & tungsten/ copper & gold Specimen Hill & Sluice Flat Roaring 41 SouthKing Island Drill targets identifiedGrassyDolphinProject BalfourProject----- End of picture text -----

Balfour

Exploration targets Tin & tungsten targets:  Waratah / Sluiced Flat  Specimen Hill (drill intercepts)

Copper & gold target:  R41S (drill intercepts) Current exploration programme:  $160 000 (, m n mum speni i d)  Waratah & Sluiced Flat  R41S  by October 2013

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Dolphin

 100% ownership

 Exploration tenements and mining leases

 Freehold land

• Environmental approvals

• Development approvals

• Significant infrastructure

 port

• water

• Definitive Feasibility Study

• Development ready

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Dolphin ‐ robust mine plan

Deposit and former workings

 Dewater and reopen underground using proven mining methods …. open pit to -80m RL …  Produce 350,000tpa at grades above 1% WO 3  Bold Head mine; potential for additional 100,000 tpa  Additional 350,000t potential feed from reclaimed Tailings … underground workings to -300m RL … Mine life of at least 10 years

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Dolphin – proven processing and recoveries

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 Recover 91% WO 3 into a industry standard 65% WO concentrate 3  Substantial test work undertaken in Australia and China  Confirmatory test work completed with local conditions and water  Flow sheet and plant design costed by independent engineers

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Dolphin ‐ set to be a significant tungsten producer

 Produce up to 25% of global production ‐ excluding China

 Supply 5,400 t of 65% WO3 concentrate pa

 10 year mine life ‐ exploration upside not included

Tonnes of WO3 produced pa

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Dolphin – Definitive Feasibility Study (completed February 2012)

APT price $40,000 ‐ $45,000/t WO3 range ($400‐450/mtu) Revenue $990 ‐ 1,110 million Pro ecj t capita l $133 million Production $16,900/t WO3 cost ($169/mtu) NPV after tax $69 ‐ 116 million IRR after tax 21% ‐ 29% Healthy 47% ‐ 53% margin  Ore own‐p unge od l f ‐300m RL could generate at east 40 ml $ illion cash pa  65% WO3 concentrate typically trades at a 20% discount to APT (equates to $320‐360/mtu using DFS assumptions)

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Dolphin ‐ exploration potential  Exploration targets on flank of granite  High‐grade mineralisation down‐plunge at Dolphin South  Drilling at Do pl hin South b y KIS recorded a 2m intercept of 6.4% WO 3  Down‐plunge drilling suspended until underground access is established.

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Sustainable Tungsten demand

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Tungsten prices and exchange rates

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Market outlook for 2013

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• Period of stability and economic growth with US and China leadership now settled

• General market conditions are expected to improve in 2013

• Tungsten prices expected to recover with industrial growth

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King Island Scheelite response for 2013

• Focus on cash management until market conditions improve

• Maintain property and tenements in good standing

• Retain access to key project development skills

• Optimise current plan to enhance project economics

• Work with off-takers, debt providers and potential equity partners to secure project funding when conditions improve

• • Assess other strate ic o ortunities g pp

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Simon Bird Chief Executive Officer

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Ph one + 61 2 8622 1400 simon . . com . au bird@kisltd

THANK YOU

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