HAWSONS IRON LTD — AGM Information 2008

Nov 24, 2008

==> picture [720 x 82] intentionally omitted <==

==> picture [433 x 93] intentionally omitted <==

AGM Presentation Tuesday Nov 25[th]

==> picture [709 x 139] intentionally omitted <==

11/25/2008

1

==> picture [720 x 82] intentionally omitted <==

----- Start of picture text -----

CARPENTARIA EXPLORATION LIMITED
----- End of picture text -----

This presentation has been prepared by the management of Carpentaria Exploration Limited (CAP) for the benefit of analysts, brokers and investors and not as specific advice to any particular party or persons. The information is based on publicly available information, internally developed data and other sources. Where an opinion is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion only. No warranties or representations can be made as to origin, validity, accuracy, completeness, currency or reliability of the information. CAP disclaims and excludes all liability (to the extent permitted by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. Where the CAP expresses or implies an expectation or belief as to the success of future exploration and the economic viability of future project evaluations, such expectation or belief is expressed in good faith and is believed to have a reasonable basis. However, such expected outcomes are subject to risks, uncertainties and other factors which could cause actual results to differ materially from expected future results. Such risks include, but are not limited to, exploration success, metal price volatility, changes to current mineral resource estimates or targets, changes to assumptions for capital and operating costs as well as political and operational risks and governmental regulation outcomes. CAP does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forecast or to update such forecast.

11/25/2008

2

==> picture [720 x 82] intentionally omitted <==

----- Start of picture text -----

CARPENTARIA EXPLORATION LIMITED
----- End of picture text -----

ASX : Code - CAP and CAPO Listed Nov 14th 2007 - $7.5m

Financial

Cash and deposits totalled A$5.06 million as at 30 September 2008. Issued Capital

• Issued capital as at 30 October 2008 is 55,178,410 shares with 12,321,590 ordinary unquoted shares

• • listed options 21,447,415 due June 30th 2010 @ 25cents

• Largest Shareholder Giralia 10.5%

11/25/2008

3

Laing’s Lode 100% CAP High lead, zinc, silver rock chips : 4.43% Zn, 0.84% Pb, 8.5 g/t Ag Euriowie JV 100% all metals (not lithium) Elevated rock chips - Tin, tantalum, gold, lead, silver 0.22% Sn, 0.15%Ta, 17g/t Au, 11.45% Pb, 191g/t Ag

Panama Hat JV earning in

High grade gold rock chips: 34.7 g/t Au, 18.95 g/t Au, 15.0 g/t Au, 9.1 g/t Au

HIGHLIGHTS

– Mt Agate Cloncurry 100% CAP Awarded Govt’ CDI Drilling assistance Hughenden Coal Project 100% CAP Coal in water bores Waterford 100% CAP Redox front defined 2m @ 140 ppm U Glen Isla 100% CAP RC/Diamond drilling 6m at 1.91 g/t Au from 4m Incl. 1m at 4.45 g/t from 6m Combaning 100% CAP RC drilling Nickel sample for met’ tests 4

==> picture [720 x 82] intentionally omitted <==

Glen Isla

• Epithermal Gold

Combaning

• UM hosted Gold

• Orogenic Gold

• Ordovician Porphyry Copper / Gold

• Laterite Nickel

• Greisen Tin / Tungsten

==> picture [330 x 366] intentionally omitted <==

----- Start of picture text -----

EL 6931
Tanners Creek
----- End of picture text -----

Exploring in Queensland and NSW

11/25/2008

5

==> picture [344 x 278] intentionally omitted <==

==> picture [182 x 243] intentionally omitted <==

• Diamond and RC drilling completed

• testing sinter and feeder zone

• RC08GIA37

• 6m @ 1.91 g/t Au from 4 m incl. 1m at 4.45 g/t from 6m

• open to the north

11/25/2008

6

Combaning

==> picture [300 x 226] intentionally omitted <==

==> picture [231 x 265] intentionally omitted <==

RC Drilling completed Testing :

• ultramafic hosted gold – low grade results

• lateritic nickel (met. tests)

11/25/2008

7

VTEM and RC drilling completed

Wave Hill

==> picture [334 x 204] intentionally omitted <==

Merri Hill 40m @ 0.79 g/t Au 10 m @ 1.33% Ni Ingola

ultramafic at 30m depth true width ~ 150m with associated talc carbonate quartz veining

==> picture [31 x 9] intentionally omitted <==

----- Start of picture text -----

10 km
----- End of picture text -----

Talc carbonate quartz vein tested Laterite nickel bulk sample collected

8

==> picture [720 x 82] intentionally omitted <==

Prospects in the Springdale area Examples of historical drill results

Location		Drill Holes & Intercepts
Harvey’s Shaft		SD4: 3m from 23 m @ 2.7 g/t Au SD5: 1m from 23 m@ 10.6 g/t Au
Kangaroo Dick		KD-1: 3.9m from 65.75 m @ 2.2 g/t Au SKP-5: 4m from 34 m @ 1.18 g/t Au
Opossum Workings		96SPRC: 4m from 44 m @ 2.65 g/t Au
Mother Shipton		BUP58: 4m from 14 m @ 1.05 g/t Au BUP68: 2m from 68 m@ 6.8 g/t Au BUP 72: 4m from 2 m@ 3.95 g/t Au.
Merri Hill		SMR-6: 32m from 28 m @ 0.71 g/t Au SMRC-17: 40m from 14 m @ 0.79 g/t Au SMR -10: 10m from 14 m@ 1.33% Ni SMRA52: 14m from 19 m@ 0.99% Ni SMRA64: 12m from 15 m@ 1.10% Ni
Trotting Track		96WTRC6: 4m from 28 m @ 0.96 g/t Au
Greens Hill		PDH 2469-2: 2m from 18 m @ 0.86 g/t Au

Work program for 2009 will test some of above prospects

11/25/2008

9

Broken Hill Projects

Euriowie JV

• shale hosted lead zinc

• pegmatite tin / tantalum

• quartz vein gold

Laing's Lode (100%)

• Broken Hill style zinc, lead, silver

Panama Hat

• high grade metamorphic (qtz sulphide) vein?? gold

Panama Hat Option EL6556

11/25/2008

10

Broken Hill Projects

2008 Results

Rock Chips Zn% Pb% Ag g/t 0.98 2.58 14 1.94 2.89 19

==> picture [159 x 97] intentionally omitted <==

Panama Hat Option EL6556

Elevated Rock Chips Tin, Tantalum Lead, Zinc, Silver Gold

Elevated Rock Chips Gold

11/25/2008

11

Euriowie JV CAP 100% to all metal other than lithium

==> picture [453 x 330] intentionally omitted <==

----- Start of picture text -----

Pegmatites Red / Pink
600 ppm Ta
1480 ppm Ta
0.24% Sn
0.14% Sn
0.19% Sn
0.22% Sn
0.12% Sn
4.08 g/t Au
0.15% Cu
0.14% Pb
11.45% Pb
191 g/t Ag
0.72 g/t Au
----- End of picture text -----

==> picture [54 x 12] intentionally omitted <==

----- Start of picture text -----

11/25/2008
----- End of picture text -----

12

==> picture [720 x 82] intentionally omitted <==

Panama Hat JV CAP earning in

==> picture [720 x 439] intentionally omitted <==

----- Start of picture text -----

CAP earning in
19 g/t Au
11.6 g/t Ag
0.26% Cu
30 g/t Au
9.3 g/t Ag
3.68 g/t Au 0.21% Cu
27.1 g/t Ag
0.1% Cu
Recent work
•
rock / soil sampling
•
detailed geophysics
SAMS
11/25/2008 13
----- End of picture text -----

Queensland Projects

Mt Agate (100%) Copper, Gold – IOCG: Waterford (100 %) - Uranium – Redox Lady Inez – (100%) Gold, Copper – skarn Cargoon – (100%) Nickel – low priority returned to Giralia Redbank - (100%) - Ni – drilled no nickel dropped Hughenden Project –(100%) – Coal North Galilee Basin

==> picture [204 x 181] intentionally omitted <==

==> picture [204 x 154] intentionally omitted <==

Mt Agate – 100% CAP

Mt Sheila

CAP awarded CDI grant Target – Ernest Henry IOCG style

• -$75,000 drilling grant

• 2 targets – magnetic high plus elevated

• copper geochemistry

• Mt Sheila

• previous positive copper

QMH

• QMH

• previous work copper in drill hole

Mt Agate – 100% CAP

==> picture [316 x 237] intentionally omitted <==

Mt Sheila

QMH

Hughenden Coal Project

• Carpentaria acquires rights to 6 coal (EPC) applications (FTB) in NW Galilee Basin

• 9 additional EPC applications made (100%)

• Total 12,000 sq kms

• Most tenements contain documented coal intersections from historical water bore data

• No modern exploration undertaken

• Historical - 4 plus 2 part previous EPC’s – est 6 – 8 holes

• Water bore / petroleum wells - sparse coverage only

• Coal quality unknown

• Mt Isa to Townsville railway line passes through southern end of tenements – if upgraded will open up this region

Hughenden Coal Project

FTB Applications in context 0f Galilee Basin 100% CAP

==> picture [542 x 363] intentionally omitted <==

==> picture [720 x 82] intentionally omitted <==

Outstanding Greenfields Coal Exploration Opportunity

==> picture [107 x 147] intentionally omitted <==

• large contiguous application area - 15 EPCA’s (> 12,000 sq kms)

• tenements contain documented coal intersections from historical water bore data

CAP 100 % Applications – red and yellow

• no modern exploration

==> picture [265 x 191] intentionally omitted <==

----- Start of picture text -----

Burt Terence John
Carpentaria Exp. Ltd.
FTB (QLD) Pty. Ltd.
Galilee Coal Pty .Ltd.
Holloman Minerals Pty.Ltd.
Linc Energy Ltd.
Matilda Coal Pty Ltd
Queensland Thermal Coal Pty.Ltd
Edge of Galilee Basin 0 20kms
----- End of picture text -----

• very limited drilling : water bore/ petroleum wells/ 6 exploration holes

• coal quality unknown but potential in :

• Betts Creek Beds – Galilee ( host to Pentland Coal Deposit)

• Blantyre Sst - Eromanga (Walloon coal measures equiv’ in Surat

• Basin )

• Younger measures Jurassic to Tertiary

• potential for

• bulk mining open cut thermal

• coal gasification - UCG

• infrastructure :

• Mt Isa – Townsville rail line / good access / power

Galilee Basin 4.7 Bt in inferred Resources - Thermal Coal

Stitched Airborne Magnetic Base

Outstanding Greenfields Coal Exploration Opportunity

Water Bore Coal Intersections

56 (5)m 81 (5)m 74 (4)m Pentland Resources 141 (3)m 161.4 Mt Indicated 78.3 Mt Inferred 53 (58)m 173 (39)m 142 (36)m Interp’ Galilee margin 158 (29)m 165 (1)m 175 (6)m 281 (2)m 133 (2)m 204 (5)m 258 (5)m 286 (10)m 215 (54)m 274 (31)m 102 (53)m 283 (1)m 378 (21)m 321 (3)m 257 (10)m 437 (96)m 394 (2)m DNR and W Water Bore 564 (39)m 623 (3)m 640 (15)m 186 (10) m Reported coal 693 (1)m depth and

DNR and W Water Bore 186 (10) m Reported coal depth and intersection all in metres 100 kms Stitched magnetics base Stitched Airborne Magnetic Base

UCG Production

Air or Oxygen Hydrogen, methane, CO plus steam input and CO2 Clean coal technology Sediments Lower Cost Gas Minimal ground disturbance Aquifer Proven technology Sediments Coal Seam Reaction

Basement

Major Work Program 2009

Central NSW Glen Isla and Combaning drill results fully assessed Gold / Nickel - Additional targets defined for drilling - If nickel met’ positive – further work

Euriowie Systematic rock chip / “Niton” sampling Tin / tantalum - define and drill targets for Sn, Ta, Pb, Au, Ag Silver, lead

• Panama Hat Soil sampling program at the William Prospect Gold - drill Au targets

Mt Agate Drilling and assessment Copper / Gold

Lady Inez Mapping, sampling – drilling ? Copper / Gold

Waterford Looking for partner

• Uranium

• Hughenden Government and historical data compiled and reviewed. -

• Coal structural basin interp’

• • define holes to test coal potential / quality - drilling

Looking for partners

Exploring in Queensland and NSW

11/25/2008

22

CONCLUSION

• work programs concentrating NSW

• drilling completed

  • Glen Isla – further gold potential

  • Combaning – gold and nickel potential

• mapping sampling at Euriowie

• further mapping and sampling at Panama Hat

• In Qld

• access agreements Mt Agate

  • drill targets ready

• gearing up at Lady Inez

• Bulk mining strategy implemented

• Purchase of FTB tenements – Galilee Basin

==> picture [260 x 366] intentionally omitted <==

• 9 additional EPC applications

Exploring in Queensland and NSW

11/25/2008

23

==> picture [720 x 82] intentionally omitted <==

Carpentaria is a committed exploration company Good spread of quality projects • immediate targets – ready to be drilled • long term focus

• turn over projects rapidly

Strong geoscientific group Aiming to become a mining / exploration group Money in the Bank