IGO LIMITED — AGM Information 2012

Nov 20, 2012

GROWING A GREAT AUSTRALIAN MINING COMPANY

Annual General Meeting Presentation Chris Bonwick, Managing Director 21 November 2012

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l Certain oral and written statements contained or incorporated by reference in this presentation, including information as to the future financial or operating performance of the Company and its projects, constitute forward-looking statements. All statement, other than statements of historical fact, are forward-looking statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements.

Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of nickel, gold or other metal production and prices, operating costs and results, capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions related to future business, economic, market, political, social and other conditions that, while considered reasonable by the Company, are inherently subject to significant uncertainties and contingencies. Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such factors include, but are not limited to: competition; mineral prices; ability to meet additional funding requirements; exploration, development and operating risks; uninsurable risks; uncertainties inherent in ore reserve and resource estimates; dependence on third party smelting facilities; environmental regulation and liability; currency risks; effects of inflation on results of operations; factors relating to title to properties; native title and aboriginal heritage issues; dependence on key personnel; and share price volatility and also include unanticipated and unusual events, many of which are beyond the Company’s ability to control or predict.

The Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. All forward-looking statement made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, not to put undue reliance on such statements.

Independence Group NL

ABN 46 092 786 304

21 November 2012

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 2000 Independence Group NL founded  2002 Listed on ASX (IGO)  2002 Acquisition: Long Nickel Mine (IGO 100%)

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 2005 Discovery: Tropicana Gold Project (IGO 30%) Discovery: McLeay Nickel Deposit at Long (IGO 100%)  2008 Discovery: Moran Nickel Deposit at Long (IGO 100%) Acquisition: Karlawinda Gold Project (IGO 100%)  2009 Discovery: Karlawinda Gold Project “Bibra Prospect” Acquisition: De Beers Database (IGO 100%)  2010 Positive Tropicana Bankable Feasibility Study

Tropicana Gold Mine Development Approval

 2011 Acquisition: Jaguar / Bentley Copper, Zinc, Silver Mines (IGO 100%) Acquisition: Stockman Copper, Zinc, Silver, Gold Project (IGO 100%)

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Capital Structure:

ASX 200 Code : IGO 232.9M shares

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Financials:

Market Cap. (20/11/12): A$996.8M Cash (end Sept Qtr 2012): A$146.9M Debt (end Sept Qtr 2012): (A$21.4M)

Substantial shareholders: 65 Institutions in Top 100 67% Australian 10% Overseas

Dividends:

Interim dividend (23 Mar 2012) Final dividend (28 Sep 2012) Total Dividends Paid to Date

70 cps

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FINANCIAL SUMMARY
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Full Year Ended June 30	2012		2011
Total Revenue Underlying EBITDA	$216.6M $33.6M	l $163.6M $56.3M
(Loss) Profit Before Tax	($368.8)M	$14.3M
(Loss) Profit After Tax	($285.3)M		$5.5M
Net Cash Flow From Operating Activities	$32.0M	$52.8M
Impairments	2012
Jaguar Regional Exploration Costs	$38.3M
Stockman Exploration Costs	$56.4M
Other Capitalised Exploration Costs	$21.8M
Capitalised Mine Development	$107.7M
Jaguar/Bentley Property, Plant & Equipment	$57.1M
Goodwill	$91.1M
Before Tax Impairments	$372.4M
Tax Benefit	-$84.5M	Reference:	IGO 30/8/2012 ASX Release – Commentary on FY 2012 Full Year Results
After Tax Impairments	$288.0M

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• Combination of low cost cash flows from current operating mines with significant long-life l development projects and highly prospective exploration

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• Highly complementary management and technical capabilities, with proven successful track records of exploration, project management and operations

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A$/t Copper Price
9,500 l
9,000
8,500
8,000
7,500
7,000
6,500
6,000
5,500 Cu A$/t
5,000
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A$ BASE METAL & SILVER PRICE ENVIRONMENT

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A$/t
Nickel Price
24,000
22,000
20,000
18,000
16,000
14,000
12,000 Ni A$/t
10,000
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A$/t

Zinc Price

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2,400
2,200
2,000
1,800
1,600
1,400
1,200 Zn A$/t
1,000
Source: Bloomberg
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A$/oz

Silver Price

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45.0
40.0
35.0
30.0
25.0
Ag A$/oz
20.0
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 Record^ Annual 2012 Production – 9,995t Ni (2011/12 Guidance 8,800-9,200t Ni). l  IGO produced over 83,000t Ni since acquisition.

• June 2012 Ore Reserve 41,900t Ni and Resource 76,600t Ni.

• Exploration success continues to add to Mining Inventory

Long Nickel	2011/12	2012/13 Guidance	Sept Qtr 2012
Operation	Actual
Production (Ni Tonnes)	9,995	9,200 – 9,600	2,952
*Cash Costs (A$/lb Ni)	$4.74	$4.80 - $5.00	$3.88
Tonnes	282,177	260,000 – 280,000	76,713

*** Cash Costs are reported based on Payable Metal Including Royalties**

^Record during the ten years of IGO ownership

 Hedging : FY13 200 Ni tonnes per month @ A$12.17/lb

Reference:

IGO 29/8/2012 ASX Release – 2012 Financial Year Full Year Result and Final Dividend IGO 31/10/2012 ASX Release – Quarterly Activities Report to 30 September 2012 IGO 19/10/2012 Annual Report– Long Nickel Mine Mineral Resource and Ore Reserve Statement

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 Remains a low cost nickel producer

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Net Margin
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 Innovative research and development

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High powered TEM transmitter exclusive to IGO****

• 10 x more powerful than conventional systems.

• Nickel sulphides are very conductive and can be detected using electromagnetic geophysicial technology.

• Doubles search radius detection up to 200m.

• Cleaner data.

• More accurate targeting.

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Down hole TEM probe

• 200m search radius.

• 3D visualisation of .

• massive NiS targets

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DEPOSITS & TARGETS LONGITUDINAL PROJECTION

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Reference: IGO 19/10/2012 Annual Report– Long Nickel Mine Mineral Resource and Ore Reserve Statement IGO 31/10/2012 ASX Release – Quarterly Activities Report to 30 September 2012

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FLY THROUGH

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L PRODUCTION UPDATE & OPERATIONAL IMPROVEMENTS

Jaguar & Bentley zinc- copper-silver Mines	2011/12 Actual	2012/13 Guidance	l	Sept Qtr 2012
Production (Zn Tonnes)	16,569	27,000 – 28,000		6,668
Production (Cu Tonnes)	7,257	5,000 – 6,000		1,360
Production (Ag ozs)	577,726	700,000 – 800,000		194,844
*Cash Costs (A$/lb Zn)	$0.58	$0.40 - $0.60		$0.69

*** Cash costs are reported based on payable metal including royalties**

Reference: IGO 29/8/2012 ASX Release – 2012 Financial Year Full Year Result and Final Dividend IGO 31/10/2012 ASX Release – Quarterly Activities Report to 30 September 2012

• Switch from contract to owner operator mining

• Senior management changes

• Value creation mentality instilled

• Proactive mining plan – adaptive to market conditions

• Operational flexibility – 2 years of developed ore at Bentley

• Improved mining fleet reliability

• Reduced power costs at Bentley

• Successfully commissioned HMS plant

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L PRODUCTION UPDATE & OPERATIONAL IMPROVEMENTS

HEAVY MEDIA SEPARATION PLANT

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• Removes waste rock from diluted ore and stringer sulphides.

• Increases mill head-grade resulting in reduced processing costs.

• Total tonnes treated 95,108t

• Removed 40,187 t of waste from ore feed(42%)

• HMS Cu feed upgraded by 61.2%

• HMS Zn feed upgraded by 62.0%

• (from 24/4/2012 to 17/11/2012)

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SITE COST OVERVIEW JAGUAR & BENTLEY (IGO 100%) $250.00 JAGUAR/BENTLEY OPERATION – Operational Costs per tonne mined l $200.00 $150.00 $100.00 $50.00 $- Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Mining Opex Geology Administration Processing Concentrate

• Investment in mine development expensed

• Will result in increased stoping productivity (long hole tonnes)

• Will continue to lower mining costs per tonne

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JAGUAR & BENTLEY (IGO 100%)
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SITE PRODUCTION OVERVIEW
JAGUAR & BENTLEY (IGO 100%)
5,000 250,000
JAGUAR/BENTLEY OPERATON - MINE PRODUCTION l
4,500
(Contained Metal)
4,000 200,000
3,500
3,000 150,000
2,500
2,000 100,000
1,500
1,000 50,000
500
- -
Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12
Ag Metal Ounces
Cu & Zn Metal Tonnes
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Contained Cu Metal (T) Contained Zn Metal (T) Contained Ag Metal (Oz)

 Increase in Bentley Silver, Zinc and Gold production

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FLYTHROUGH

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BENTLEY DEPOSIT

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Drill intercepts are quoted as down hole widths, and not true widths

Reference: IGO 19/10/2012 Annual Report– Jaguar/Bentley Operation Mineral Resource and Ore Reserve Statement

 New high grade mining plan

 2 years of developed long hole ore (low cost)

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BENTLEY DEPOSIT

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 Discovered – 2008 Development – 2011 First Stoping – Sept Qtr 2012 l

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Bentley - Mineral Resource	Total Tonnes	Cu %	Zn %	Ag g/t	Au g/t
Total Resource	2,914,000	1.9	10.2	134	0.7
Bentley – Contained Metal		Cu t	Zn t	Ag Moz	Au oz
Total Resource		55,600	298,600	12.6	68,000

Reference: IGO 19/10/2012 Annual Report– Jaguar/Bentley Operation Mineral Resource and Ore Reserve Statement

• Early production has yielded a positive reconciliation

• +45% ore tonnes, +63% Zn metal, +31% Cu metal against Ore Reserve

(As of June 2012)

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• Under-explored 50km long prospective l Cu-Zn-Ag VMS corridor.

• Prospectivity around existing 3 mines.

• Six Cu-Zn-Ag alteration anomalies under- cover being systematically tested.

Golden Grove Gossan Hill : discovery history

Bentley Deposit Scale Comparison

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FLY THROUGH

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OVERVIEW

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• Located 300km NE of Melbourne l

• Project Area 335 km[2 ]

• Bankable Feasibility Study at Wilga and Currawong

• Recent gold discovery at Bigfoot Prospect, 300m north of Currawong Deposit.

• Regional Exploration potential for VMS and Gold Deposits

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Currawong Deposit

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Wilga Deposit

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Stockman - Mineral Resource	Total Tonnes	Cu %	Zn %	Ag g/t	Au g/t
Total Resource	13,986,000	2.1	4.3	38	1.0
Stockman – Contained Metal		Cu t	Zn t	Ag Moz	Au oz
Total Resource		288,500	594,600	17.1	424,000

Reference: IGO 19/10/2012 Annual Report– Stockman Project Mineral Resource Statement

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BANKABLE FEASIBILITY STUDY

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• Two underground mines - Wilga and Currawong

• Feeding a 1Mtpa flotation plant over 9 years

• Cu & Zn concentrate production averaging 150ktpa LOM

• Recent gold discovery at Bigfoot prospect, 300m north of Currawong deposit, a potential game changer

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EXPLORATION POTENTIAL

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• Near mine high grade “Bigfoot style” mineralisation

• Significant untested potential for VMS and gold deposits

• Historical 1970’s regional exploration never assayed for gold

• IGO high powered TEM

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FLY THROUGH

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GOLD PRICE ENVIRONMENT
Gold Price January 1979 to October 2012
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2,500
2,000
1,500
1,000
500
0
USD/oz AUD/oz USD/oz CPI Adjusted (2012)
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GOLD PRICE ENVIRONMENT

Source: US Bureau of Labour Statistics, World Gold Council

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WHO TO BELIEVE?

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GOLD PRICE FORECASTS
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QE3 SCENARIO
US Federal Reserve Assets Vs Gold Price l Fed Total Assets
Gold US $/oz
US$ Trn
$2,500 $5.0
$4.5
FED Balance Sheet Expansion: QE3 US $40 Billion per Month
$2,000 $4.0
?
Operation Twist: US $ 267 Billion July 2012 to December 2012
Short term securities sold to Purchase Longer Term Bonds $3.5
$1,500 $3.0
?
$2.5
Gold Price US $/oz
$1,000 $2.0
Fed Reserve Total
Assets US $Trillion $1.5
The Federal Reserve
$500 $1.0
Balance Sheet was
Expanded Significantly $0.5
Late 2008
$0 $0.0
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
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Source: Bloomberg

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IGO 30%, AGA 70%, MANAGER

NEW AUSTRALIAN GOLD PROVINCE l UNDER SAND DUNES

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Regional drilling

Preparation for mining

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IGO 30%, AGA 70%, MANAGER

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References : IGO 29/11/11 ASX Release - Open Pit and Havana Deeps Underground Resource Estimates AGA 27/7/11 ASX Release - Reserve Estimate

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IGO 30%, AGA 70%, MANAGER

PROJECT UNDER CONSTRUCTION:

• Project 64% complete at 30 September 2012

• First production estimated December Qtr 2013

• ^

• IGO attributable production years 1-3 : 141-147,000 oz Au pa

• ^

• : Cash costs years 1-3

A$580-600/oz Au A$1,713/oz

• Recent gold price (29/10/12):

• 1.9M oz Au[# ]

• Resources – IGO 30% Share:

• Reserves – IGO 30% Share:

• 1.2M oz Au*

• ……and growing

• Combined land position of 13,480sq km

• References : ^ IGO 11/11/10 ASX Release - Tropicana Gold Project Development Approval (real terms as at 2010). # IGO 29/11/11 ASX Release - Open Pit and Havana Deeps Underground Resource Estimates * AGA 27/7/11 ASX Release - Reserve Estimate

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CASA approved Aerodrome

• 1.5 hour flight time from Perth

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 IN 2011 DOMESTIC GOLD PRODUCTION >100KOZ

Gold Ounces Australian Mine Production 2011 900,000 Tropicana (100%) 800,000 700,000 600,000 500,000 Tropicana (30% IGO) 400,000 300,000 200,000 100,000 0 Source:

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* Based on BFS Production Years 1-3
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UPSIDE STUDIES & POTENTIAL

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November 2011 Mineral Resource: 88.3Mt @ 2.3g/t Au = 6.41Moz (A$1,400/oz) l June 2011 Open Pit Reserve: 56.4Mt @ 2.2g/t Au = 3.91Moz (A$1,210/oz)

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Reference : AGA 27/7/11 ASX Release for Reserve Estimate and IGO 29/11/11 ASX Release for Open Pit and Havana Deeps Underground Resource Estimates

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HAVANA OPEN CUT & UNDERGROUND MINE POTENTIAL

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Reference : AGA 27/7/11 ASX Release for Reserve Estimate and IGO 29/11/11 ASX Release for Open Pit and Havana Deeps Underground Resource Estimates

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SIGNIFICANT DOWN PLUNGE POTENTIAL

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Drill widths approximate true widths

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FLY THROUGH

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• 207% Increase in Resource announced June 2012 to 674,300oz Au

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• New Gold Province in Western Australia’s “Iron Ore Country”

• No historical gold workings

• Close to infrastructure: major town, airport, sealed roads, major highway, gas pipeline, fresh water

• Similar geological setting to Tropicana

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Reference: IGO 28/06/2012 ASX Release – Karlawinda Gold Project

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FRANCOPAN PROSPECT DISCOVERY

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Drill intercepts are quoted as down hole widths, and not true widths

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BIBRA PROSPECT CROSS-SECTION

• Scoping Study commenced.

• Potential to increase resources down dip and along strike.

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Reference: IGO 28/06/2012 ASX Release – Karlawinda Gold Project

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BIBRA PROSPECT GRAM X METRE CONTOURS

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 Currently seven untested anomalies for follow-up regional exploration l

Reference: IGO 28/06/2012 ASX Release – Karlawinda Gold Project

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AUSTRALIAN PROJECTS

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• Long term exploration asset to find new Australian mineral camps.

• 293,000 geochemical samples collected by De Beers over 30 years.

• IGO analysing samples for 57 elements including Ni, Cu, Pb, Zn, Au, l Ag, Pt, Pd, U, rare earths, Sn, Li, K etc.

• Over 49,000 samples analysed to date generating numerous geochemical anomalies.

• IGO has pegged a number of previously unknown gold, copper, zinc and tin anomalies.

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Sample coverage

Sample storage

• No buy-back or royalties in future mineral discoveries

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UNLOCKING THE POTENTIAL

 De Beers Targets Under Review

• 71 Gold Anomalies

• 33 Base Metal Anomalies

• 3 Other/Strategic Metal Anomalies

Anomalous base metal and sulphur rich gossan found by Independence Group geologists following upstream from a De Beers stream sediment sample

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UNLOCKING THE POTENTIAL

 Alteration mapping using the De Beers data set

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Landsat Image

Hyperspectral Image

Hydrothermal alteration mapping in carbonates using the De Beers data set

• De Beers Data Includes

• Geophysical surveys covering 306,000 Km[2 ]

• Hyperspectral Surveys covering 169,300Km[2 ]

• Extensive Satellite Imagery and Aerial Photography

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Growing a Great Australian Mining Company

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• Zero to Ten Years

• A great team of people

• 2 operating mines

• Significant gold mine under construction

• Feasibility study pipeline

• Unique exploration assets

• Strong clean balance sheet and future cash flows

• Dividends paid 70c per share

• Planning for the Next Ten Years

• Continue our excellent safety record

• Pay consistent dividends

• Cash flow funded development and growth

• Innovation in mining, metallurgy and exploration

• Find the “Big One”

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CONTACT DETAILS

Perth Office Chris Bonwick, Managing Director Suite 4, Level 5, South Shore Centre 85 South Perth Esplanade South Perth, Western Australia, 6151 PO Box 496, South Perth, Western Australia, 6951 Telephone: +61 8 9238 8300 Facsimile: +61 8 9238 8399 Email: contact@igo.com.au Website: www.igo.com.au ASX Code: IGO

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APPENDIX RESERVES AND RESOURCES STATEMENTS

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LONG NICKEL OPERATION

Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012		l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012
Cut-off 1% Ni						at Economic Ni Cut-off
Classification Tonnes Ni% Ni Tonnes Classification Tonnes Ni% Ni Tonnes
LONG	Measured	47,000	3.7	1,700		LONG
	Indicated	220,000	5.1	11,200			Proven	5,000	3.0	100
	Inferred	167,000	5.1	8,600			Probable	91,000	2.6	2,400
Total 434,000 5.0 21,500 Total 96,000 2.6 2,500
MORAN	Measured	-	-	-		MORAN
	Indicated	498,000	7.1	35,300			Proven	-	-	-
	Inferred	11,000	5.3	600			Probable	768,000	4.1	31,700
Total 509,000 7.0 35,900 Total 768,000 4.1 31,700
VICTOR	Measured	-	-	-		VICTOR
SOUTH	Indicated	53,000	7.3	3,900		SOUTH	Proven	-	-	-
	Inferred	34,000	1.5	500			Probable	55,000	4.2	2,300
Total 87,000 5.1 4,400 Total 55,000 4.2 2,300
McLEAY	Measured	49,000	7.2	3,600		McLEAY
	Indicated	145,000	5.5	7,900			Proven	63,000	2.4	1,500
	Inferred	79,000	4.2	3,300			Probable	139,000	2.8	3,900
Total 273,000 5.4 14,800 Total 202,000 2.7 5,400
GRAND TOTAL 1,303,000 5.9 76,600 GRAND TOTAL 1,121,000 3.7 41,900
Reference:	IGO 19/10/2012 Annual Report - Long Operation Mineral Resource and Ore Reserve Statement

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TROPICANA GOLD PROJECT JV

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Mineral Resources	Mineral Resources	Mineral Resources	Mineral Resources		Ore Reserve	Ore Reserve	Ore Reserve	Ore Reserve
November 2011					June 2011
Tonnes Grade Contained Gold Classification (Mt) (g/t)1 (Moz)2				Tonnes Grade Contained Gold Classification (Mt) (g/t)3 (Moz)4
Measured	28.2	2.1	1.95
Indicated	49.4	2.0	3.25		Proven	25.8	2.3	1.90
Inferred	10.6	3.6	1.21		Probable	30.6	2.0	2.01
TOTAL 88.3 2.3 6.41				TOTAL 56.4 2.2 3.91
Note:
(1) Cut-off: 0.3g/t for transported and upper saprolite, 0.4g/t for lower saprolite, 0.4g/t				Au for saprock, 0.5g/t Au fresh material, 2.14g/t Au underground.
(2) Havana, Tropicana and Boston Shaker A$1,400/oz Au optimisation.
(3) Cut-off: 0.4g/t for transported and upper saprolite, 0.5g/t for lower saprolite, 0.6g/t				Au for saprock, 0.7g/t Au fresh ore.
(4) A$1,210/oz Au optimisation.
References: AGA 27/7/2011 and IGO 29/11/11 ASX Releases for Mineral Resource and Ore Reserve Estimates

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JAGUAR / BENTLEY OPERATION

JAGUAR / BENTLEY OPERATION l

Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012	Mineral Resources 30 June 2012		l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012	l Ore Reserve 30 June 2012
Classification Tonnes Cu% Zn% Ag g/t Au g/t								Classification Tonnes Cu% Zn% Ag g/t Au g/t
JAGUAR	Measured	429,000	2.5	4.4	61	-		JAGUAR	Proven	73,000	1.9	0.5	15	-
	Indicated	129,000	1.8	2.6	32	-			Probable	6,000	1.5	0.4	10	-
	Inferred	31,000	2.6	2.7	43	-		Total 79,000 1.8 0.4 14 -
	Stockpiles	6,000	1.9	3.7	54	-
Total 595,000 2.3 3.9 54								BENTLEY	Proven	-	-	-	-	-
									Probable	2,373,000	1.3	8.5	100	0.5
**BENTLEY **	Measured	-	-	-	-	-		Total 2,373,000 1.3 8.5 100 0.5
	Indicated	2,118,000	1.7	10.5	125	0.7
	Inferred	795,000	2.5	9.6	160	0.9
	Stockpiles	1,000	0.8	6.5	66	0.3		GRAND TOTAL 2,452,000 1.3 8.2 98 -
Total 2,914,000 1.9 10.2 134 0.7
		Mineral Resources - August 2009
**TEUTONIC **	Measured	-	-	-	-	-
BORE	Indicated	946,000	1.7	3.6	65	-
	Inferred	608,000	1.4	0.7	25	-
Total 1,554,000 1.6 2.5 49 -
GRAND TOTAL 5,063,000 1.9 7.1 99
Reference:	IGO 19/10/2012 Annual Report - Jaguar/Bentley Operation Mineral Resource and Ore Res						erve Statement

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STOCKMAN PROJECT

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l STOCKMAN PROJECT	l STOCKMAN PROJECT	l STOCKMAN PROJECT	l STOCKMAN PROJECT	l STOCKMAN PROJECT	l STOCKMAN PROJECT	l STOCKMAN PROJECT	l STOCKMAN PROJECT
Mineral Resources 30 June 2012
Classification Tonnes Cu% Zn% Pb% Ag g/t Au g/t
CURRAWONG	Indicated	9,548,000	2.0	4.2	0.8	42	1.2
	Inferred	781,000	1.4	2.2	0.3	23	0.5
Total 10,329,000 2.0 4.0 0.8 40 1.1
WILGA	Indicated	2,987,000	2.0	4.8	0.5	31	0.5
	Inferred	670,000	3.7	5.5	0.4	34	0.4
Total 3,657,000 2.3 4.9 0.5 32 0.5
GRAND TOTAL 13,986,000 2.1 4.3 0.7 38 1.0
* Inferred Augrades for Wilga
Reference:	IGO 19/10/2012 Annual Report -Stockman Project Mineral Resource Statement

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KARLAWINDA GOLD PROJECT : BIBRA DEPOSIT (INFERRED RESOURCES - JUNE 2012)

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Tonnes Au Grade Contained Au (Mt) (g/t) (oz) Mineralisation Type
Laterite	2.2	1.1	77,100
UpperSaprolite	0.9	1.1	31,000
LowerSaprolite	1.9	1.1	63,600
Transitional	2.1	1.0	68,200
Sub-total	7.1	1.1	239,900
Fresh	11.4	1.1	434,300
TOTAL INFERRED 18.5 1.1 674,300
Reference: IGO 28/06/2012 ASX Release - Bibra Resources Estimate		(Au(oz) figures have been rounded to nearest 100oz)

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Notes:

The information in this summary presentation that relates to Exploration Results is based on information compiled by Mr Christopher M Bonwick who is a full-time employee of the Company and is a member of the Australasian Institute of Mining and Metallurgy. Mr Bonwick has sufficient experience which is relevant to the style of mineralisation 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’. Mr Bonwick consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this summary presentation that relates to Mineral Resources or Ore Reserves is a compilation of previously published data for which Competent Persons consents were obtained. Their consents remain in place for subsequent releases by Independence Group NL of the same information in the same context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. Public releases to the ASX of Mineral Resources or Ore Reserves have been referenced on each slide in this summary presentation, in accordance with clause 5 of the 2004 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. These references include the Competent Persons consent for each Mineral Resource or Ore Reserve.

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