HIGH PEAK ROYALTIES LIMITED — AGM Information 2007

Nov 19, 2007

Project Update Annual General Meeting November 2007

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Dr Dennis Gee – Chairman

Dr David Eiszele – Director

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Mr John Canaris – Director & Co Founder

Mr Marcus Gracey – Director

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Mr Chris Matthews – CEO & Co Founder

Ms Jade Styants – Company Secretary

Dr. Graeme Beardsmore – Chief Consultant

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Total Shares on Issue Market Cap @ $0.50

Cash - November 07 $5,658,000 Grant Funding - REDI $3,000,000 6

Val Cash

$17/1.1m

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• be competitive with fossil-fuels - 300MW Wholesale Electricity Price With added Carbon Price $25/t Current Wholesale Electricity Price – - — Department of the Prime Minister Draft Planning Report Uranium Mining, Processing and Nuclear Energy Opportunities for Australia? 2007

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A $30B + Power Investment Needed By 2030

~~“Transitioning to Sustainable Energy”, Centre for Regional Technology, Swinburne University of Technology, April 2007~~

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REDI GRANTS

LETDF GRANTS

Geoscience Australia - OESP PACE

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Essential Factors for Hot Rock Exploration

Project Fundamentals

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~~Temperature modelling performed by Independent Expert (Dr Graeme Beardsmore – Monash University), and signed off by Prof. David Giles of the University of Adelaid~~ e 17

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REDI $3m MATCHED FUNDING = $6m PROGRAMME – FULLY FUNDED

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HEAT FLOW TARGET
PROPOSED 15km
SPACED DRILL HOLES
HEAT FLOW
ANOMALY
INSULATING SEDIMENT
5kms
TEMPERATURE
10kms FIELD MODEL
HEAT PRODUCING
15kms BASEMENT ROCKS
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Key Outcomes of 3D-TFM:

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Geothermal Pre-Heating
HYBRID GEOTHERMAL PRE-HEATING INVESTIGATIONS
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Studies completed overseas suggest real benefit
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More power / less fuel, CO2 emissions reduction
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Commercial benefit to the power supplier
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Potential fast development, lower cost, lower risk
Lake
Torrens
Torrens
Project
25 Area
15
Power
NEW GEL
Grid
APPLICATION 285
5 Major
Road
Port Augusta
Power Stations
75 125 175 225
Spencer
°
Geothermal Temperature C Gulf
Modified from Bruhn 2003 Thermodynamic Studies, Germany. Hybrid geothermal–fossil electricity generation from low enthalpy geothermal resources: geothermal
feedwater preheating in conventional power plants.
Mechanical Efficiency %
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Direct Geothermal Desalination

GEOTHERMAL SEAWATER DESALINATION

• Possible application of relatively low temperature geothermal • Test work completed OS for direct geothermal desalination • Temperatures as low as 75ºC to desalinate seawater

Coupling renewable sources of power with desalination is essential to meet the requirements of a sustainable future

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Secure Data Explore for High Temp. Deep Drilling & Tenure Compilation Resources Development

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“Our strategic land holding in the heart of Infrastructure means that any hot rock prospect discovered will sit on or next to the National Power Grid”

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Drilling Next to the National Power Grid

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275kV Tower
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