IODM LIMITED — AGM Information 2010

Nov 16, 2010

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Presentation at the Annual General Meeting 17 November 2010 Dr Graham Carman, Managing Director

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Disclaimer:

This material contains certain forecasts and forward‐looking information, including regarding possible or assumed future performance, costs, production levels or rates, prices, resources, or potential growth of Paradigm Metals Ltd, industry growth, or other trend projections. Such forecasts and information are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors, many of which are beyond the control of Paradigm Metals Ltd. Actual results and developments may differ materially from those expressed or implied by these forward‐looking statements depending on a variety of factors. Nothing in this material should be construed as either an offer or a solicitation of an offer to buy or sell securities in Paradigm Metals Ltd.

Competent Person Statement:

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Graham Carman who is a Member of the Australasian Institute of Mining and Metallurgy. Dr Carman is a full‐time employee of the Company, and 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”. Dr Carman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Company Snapshot ASX: PDM

Existing shares: 111,660,000 Existing options: 2,000,000 @ 20c 3,500,000 @ 10c

Cash: $750,000 Market cap 16 Nov 2010: $5 million Share price 16 Nov 2010: 4.5 cents

Shareholders ‐ JPMorgan Chase 7.2% ‐ Taycol Nominees 5.8% ‐ Top 20 ‐ 38%

Note: Underwritten Rights Issue (RI) to raise $1.1m open now

• RI funds to be used for drilling gold projects

• 148,881,000 shares on completion of RI

• $1.8 million in cash on completion of RI

• 22,110,000 @10c options on completion (received free in RI)

• Underwriter: Taylor Collison

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Paradigm Metals Limited

• Gold porphyry exploration in New South Wales

• IOCG (copper‐gold‐iron oxide) exploration in Cloncurry

• Potential company‐making projects

• Experienced exploration team

• Aiming to spend >65% of funds on drilling

• Significant drilling planned for next 6 months

• Drilling NOW in Cloncurry, within 3 weeks in NSW

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NSW gold projects

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Yellow Mountain located in ‘gap’ “Target Deposit” examples with >3 Moz gold Cowal: 79 Mt @ 1.26g/t = 3.3 Moz McPhillamys: 92 Mt @ 1g/t = 3.0 Moz

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Yellow Mountain Gold Project

Paradigm commitments to exercise option EL 6325 • Need to complete 2500 metres air core drilling by 31 March 2011 • 810 metres already completed – minimum 1700+ metres to be completed by end December 2010

Paradigm commitments to earn interest • To earn 30% JV interest: +$300,000 by 31 March 2012 • To earn 51% JV interest: +$500,000 by 31 March 2013 If Paradigm earns 51% JV interests will be: • PDM 51% : GCR 30% : Triako 19% (free carried)

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Yellow Mountain Gold Project

Mineral Hill Mine

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Yellow Mountain Gold Project

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Oz Minerals EL
PDM can earn 51%
100% PDM
“Quarry Hill”
prospect
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10km gold‐arsenic anomaly ‐ on Gilmore Suture

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Quarry Hill ‐ past trenches and IP
600 metre‐wide
envelope
grading >0.1 g/t
•
Open to west
•
IP anomalies
untested
•
600 m x 1000 m
target zone
1000‐metre zone
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Quarry Hill ‐ past drill results

“McPhillamys” Au deposit footprint ‐ same scale (red) 100 Mt @ 1g/t Outer ore envelope > 0.1 g/t Inner Ore Zone Regions for upcoming drilling

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Cloncurry copper‐gold projects

• 50% JV with Exco Resources at Cloncurry Queensland

• Exploring for copper‐gold deposits (eg. Ernest Henry)

• A number of untested magnetic anomalies, cover <50m

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Planned holes
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• Drilling NOW

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Temora gold project

• High‐grade gold targets on Gilmore Suture

• 30,000 oz Au mined from veins during 1880s

• Grab rock samples: 75g/t Au, 23/t Au

• No past drilling

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Kangiara base metals

• Open Pit Resource (sulphide):

• 1.6 Mt @ 0.4g/t Au, 0.12% Cu,1.2% Pb, 1.4% Zn, 24g/t Ag

• • Open along strike, requires more drilling for expansion

• • Oxide potential (18m @ 151g/t Ag, 0.6g/t Au from 0m)

• Farmout opportunity

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Work programme next 6 months

• Yellow Mountain drilling • 2,000 m air core / RC drilling: Dec 2010

• • 3,000 m RC drilling : Jan – Mar 2011

• • Aiming to earn 30% interest by 31 March 2011

Other projects

• Cloncurry air core: Drilling NOW

• • Temora air core: Jan – Mar 2011

• Rosedale: reviewing gold targets

• • Kangiara/Frogmore: JV farmout opportunities

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Why Paradigm

• Targeting large low cost gold deposits in Australia

• • Prospective, underexplored areas in ‘elephant country’

• • Lots of news expected next 6 months

• Drilling at Yellow Mountain by early Dec 2010

• Drilling NOW at Cloncurry copper‐gold JV with Exco

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www.paradigmmetals.com.au

Contact: Graham Carman Ph +61 2 9955 7130 Email: info@paradigmmetals.com.au

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