HAWSONS IRON LTD — Call Transcript 2009

Nov 8, 2009

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ASX ANNOUNCEMENT

9 November 2009 ASX Limited 20 Bridge Street Sydney NSW 2000 Dear Sir/Madam

Re: BOARD ROOM RADIO (BRR) BROADCAST TRANSCRIPT

Following our release of the notification of the Board Room Broadcast investor presentation please find attached a copy of the presentation.

The presentation details are as follows:

Company portfolio

Brief update on selected projects Detailed update on the Hawsons Iron Project

Should you have any questions regarding this announcement please contact me. Yours sincerely,

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Nick Sheard

Executive Chariman

Ground Level, Boundary Court, 55 Little Edward Street, Springhill Queensland 4000 PO Box 1019 Spring Hill QLD 4004 Phone: + 61 7 3161 3801 Fax: + 61 7 3161 3786

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e-mail: info@capex.net.au

Website: www.carpentariaex.com.au

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Carpentaria Exploration Limited

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Board Room Radio Presentation 9[th] November 2009

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Presented By Nick Sheard – Executive Chairman Carpentaria Exploration Ltd October 2009

Slide 1

CARPENTARIA EXPLORATION LIMITED Disclaimer

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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 loses, 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 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.

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Slide 2

Carpentaria Exploration Ltd October 2009

CARPENTARIA EXPLORATION LIMITED Portfolio as of Oct’ 2009

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Carpentaria’s Aim:

• Discover through exploration or acquisition, a profitable mine to develop a cash flow to further grow the company by additional discovery

Strategy :

• Explore economically, leveraging success through rapid turnover of quality projects in areas that are known to be mineralized in NSW and Qld

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Thermal Coal
Galilee Basin
(Terms Sheet signed)
Copper / Gold
Cloncurry District
Copper / Gold / NIckel / Nickel
Lachlan Fold Belt
Tin / Tantalum
Copper / Gold
Broken Hill District
Iron (New Discovery)
Broken Hill District
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Slide 3
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Carpentaria Exploration Ltd October 2009

CARPENTARIA EXPLORATION LIMITED The Team

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Charlie Foster - Tech’ Services Supplier Global geotechnical experience

Doug Brewster – Exploration Manager Global geological experience

John Donohue – Senior Geophysicist Global geophysical experience

Chris Powell – Co. Sec. Aust / NZ Financial experience

Nick Sheard – Exec’ Chairman Global exploration experience

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Quentin Hill – Senior Geologist Australia wide geological experience

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Slide 4

Carpentaria Exploration Ltd October 2009

HUGHENDEN COAL Applications and Basin Extents

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Applications

• 7500 sq kms

• Coal delineated in water bores

Infrastructure

• Townsville – Mt Isa Railway

• Sealed Flinders Highway

Geology

• Northern margin of Galilee Basin

• Galilee plunges regionally to south

Opportunity

• Large open cut export quality thermal coal

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Galilee Basin
Linc
Indicated Inferred
161.4 Mt 78.3Mt
Hancock
2.6 Bt, in measured,
indicated and inferred
resources
Waratah
Eromanga Basin 4.3 Bt Inferred
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Terms Sheet Signed to vend into new company

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Slide 5

Carpentaria Exploration Ltd October 2009

LACHLAN FOLD BELT PROJECT Gold, Copper, Nickel Potential

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Project area covers

 Prospective Macquarie Arc host rocks

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(c.f. : Cadia, North Parkes – Cu, Au)

Mineralised Gilmore Suture

(e.g. :Cowal, Gidginbung - Au)

Glen Isla (Gold)

Latest drilling

 6m @ 1.91 g/t Au from 4 m

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Combaning / Dirnaseer (Gold Copper Nickel)

Rock Chips

 21.3 g/t Au, and 6.13 g/t Au

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Slide 6

Carpentaria Exploration Ltd October 2009

LACHLAN FOLD BELT PROJECT Gold, Copper, Nickel

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New Application - Dirnaseer Target style examples :

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• Cadia, Caloma – gold

• Voisey’s Bay - nickel

Mother Shipton (30,000 oz production) Past drilling – 8m @ 2.17g/t Au incl. - 4m @ 3.95g/t Au from 2m CAP Rock Chips – 6.13 g/t Au Hibernia CAP Rock Chips incl. 21.30 g/t Au & 4.47 g/t Au

Harvey’s Shaft Past drilling – 3m @ 2.70 g/t Au from 23m

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Slide 7

Carpentaria Exploration Ltd October 2009

BROKEN HILL PROJECTS

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Euriowie (JV)

• ore grade tantalum (1480 ppm Ta)

• and tin, elevated copper, nickel

Panama Hat (JV)  e.g. 30.0g/t Au, 19.0g/t Au and 3.68 g/t at the William’s Prospect

Hawsons Project

• significant magnetite discovery

Exploration Target[1 ] 2.5 – 4.5 Billion Tonnes

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• 1 The potential quantity and grade of the exploration targets is conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.

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Slide 8

Carpentaria Exploration Ltd October 2009

EURIOWIE PROJECT October Field Results

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• coarse tin as cassiterite (SnO2)

• in extensive pegmatite dyke

• 1.4 km x to 7 m

• not drill tested

• potential as direct tin concentrate feed

• additional pegmatite systems to test

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coarse cassiterite

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Slide 9

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT

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LOCATION :

 Close to infrastructure

• Broken Hill – 60 kms – mining culture

• work force

• supply base

• airport - daily services

 30 km to rail line

• East – West major rail link – east to NSW ports

• – west to Port Pirie

• 30 km to Barrier Highway – 500 km to Adelaide

• 30km to NSW power grid

• 2 Exploration Licences 1. JV earning in

• 2. 100% Carpentaria

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SA NSW
VIC
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Slide 10

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Airborne Magnetics

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Scale of project in comparison to the size of Broken Hill city area

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Image Legend
T
 Red to White :
High magnetic intensity
Core
Suggesting magnetite
Fold units
Wonga
South L’
CAP Holes
Previous drilling :
CRAE
Placer
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Slide 11

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Processed Airborne Magnetics / Drilling

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RTP – Tilt Magnetics  highlights magnetic units Drill Holes

Unit 3

RC Drilling July 09

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Slide 12

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Drilling Results - July 2009

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Results :

• Magnetite siltstone dip 45 degs to SW

• Thick units encountered (+ 130 m true width)

• Open at depth

• Excellent concentrate

• Low deleterious elements

• Significant strike length 2300m (from magnetic data)

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Slide 13

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Davis Tube Results

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Drill Hole	From (m)	To (m)	Interval (m) DTR% DTRG
RC09BRP01	160	198	38 18.2 70
Incl.	194	198	4 24.7 70
RC09BRP02	99	214(EOH)	115 18.0 69
Incl.	163	177	14 21.9 69
	183	196	13 20.3 70
RC09BRP03	105	130	25 18.1 70

Good concentrate grades

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Low deleterious elements

%Fe	%SiO2	%Al2O3	%TiO2	%V
70.1	2.4	0.18	0.04	0.023

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Slide 14

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Field Views

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The Camp

Sampling drill chips

Outcrop

Drilling

Slide 15

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Exploration Targets[1 ] – Unit 3

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Carpentaria Exploration Target[1] Estimate

200 - 220 million tonnes at 18 – 19% DTR with a DTRG of 69 - 71% Fe to 250m

Assumptions for target[1] - Unit 3

				ssumptions for target - Unit 3
										Unit 3
	Magnetic strike length (m)	True thickness (m)		Oxidation base depth (m) Dip (deg) Vertical depth extent (m) DTR concentrate (Wt%) DTR Concentrate Fe% - Grade		Specific Gravity g/cc	Tonnage Range(Mt)
	2300	130 -140		80 45 250 18-19% 69.0-71.0%		3.1 – 3.3	200 - 220
	1_The potential quantity and _			_grade of the exploration targets is conceptual in nature and there has _	_been insufficient _			exploration to
	_define a Mineral Resource. _			It is uncertain if further exploration will result in the determination of a Mineral Resource.

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Slide 16

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Regional Magnetite Targets

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Independent Exploration Target[1] Estimate

2.5 to 4.5 billion tonnes

at 18 % magnetite DTR with concentrate grade of 69 -71% Fe, to a depth of 250 m over an estimated strike length of 42.8 to 46.4 km As reported by : Hellman and Schofield Independent Experts

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T
Fold
Core
South Limb
Wonga
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1 The potential quantity and grade of the exploration targets is conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.

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Slide 17

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Breaking News

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Exploration Target[1] Estimate increase

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T
3.5 to 5.8 billion tonnes
at 18 % magnetite DTR with Fold
Core
concentrate grade of 69 -71% Fe, to a
DAM
depth of 250 m over an estimated
strike length of 42.8 to 46.4 km
South Limb
Increase due to :
 The Wonga Results
 magnetic modeling
The DAM anomaly Wonga
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1 The potential quantity and grade of the exploration targets is conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.

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Carpentaria Exploration Ltd October 2009

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Slide 18
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HAWSONS IRON PROJECT Wonga 3D Magnetic Model

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DD93W2 500 m

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3D Model area
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3D magnetic model: magnetic susceptibility isosurface (5000 x 10[-5] SI units)

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Slide 19

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Conceptual Pit Section Unit 3

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Mining Unit 3

 Efficient, simple, open cut

 Siltstone host

 18 % DTR

• 2300m long

• Vertical depth 250m

• Strip ratio 1.6 :1

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Huge expansion potential from other units

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Slide 20

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Future Work

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 Detailed magnetics to assist modeling

• Drilling other targets

 higher grade

• thickness

• Undertake high level financial modelling

 Resource Drilling Estimate :

• 12,000m of drilling to define large resource

 6 months

• start a scoping study

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Slide 21

Carpentaria Exploration Ltd October 2009

HAWSONS IRON PROJECT Key Points

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• New magnetite discovery in Western NSW

 Estimate Exploration Target[1] of 3.5 to 5.8 billion tonnes

• Close to infrastructure

• Broken Hill / Work-force / Rail / Power

• Clean, high grade, pellet quality concentrate

• Conceptually mining at strip ratio of 1.6 : 1

• Low cost to evaluate potential and define resources

• 6 month time frame to prove up inferred resources

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Slide 22

Carpentaria Exploration Ltd October 2009

CARPENTARIA EXPLORATION LIMITED In Brief

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GROWTH THROUGH SUCCESS

 Major magnetite iron discovery at Hawsons in NSW

 Coal project terms sheet signed

• Quality gold projects nearing drill ready stage

 Early stage very encouraging tin / tantalum project – drill ready

 Rapidly turning over projects to maximise possibility of success

 Strong, flexible, geoscientific team providing good results

• Committed to exploration / mining

Funds available for further exploration

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Slide 23

Carpentaria Exploration Ltd October 2009

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CARPENTARIA EXPLORATION LIMITED Competent persons statement and explanatory note

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The information in this presentation that relates to Exploration Results is based on information compiled by S.N.Sheard, who is a Member of the Australian Institute of Geoscientists and has had sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking 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'. S.N.Sheard is an employee of Carpentaria and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The data in this report that relates to Exploration Targets for the Hawsons Project is based on information evaluated by Mr Simon Tear and Mr Arnold van der Heyden who are Members of The Australasian Institute of Mining and Metallurgy (MAusIMM) and who have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Tear and Mr van der Heyden are full-time employees of Hellman & Schofield Pty Ltd and they consent to the inclusion in the report of the Mineral Resources in the form and context in which they appear.

NOTES

1 The potential quantity and grade of the exploration targets is conceptual in nature and there has been insufficient exploration to define a Mineral Resource. It is uncertain if further exploration will result in the determination of a Mineral Resource.

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Slide 24

Carpentaria Exploration Ltd October 2009

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Carpentaria Exploration Limited

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Telephone: 617 3161 3801 Facsimile: 617 3161 3786 Email: info@capex.net.au ~~Web: www.carpentariaex.com.au~~

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ASX Code: CAP Carpentaria Exploration Ltd October 2009 ABN: 63 095 117 981

Ground Level, Boundary Court 55 Little Edward Street Spring Hill QLD 4000

Slide 25

PO Box 1019 Spring Hill QLD 4004