JAMESON RESOURCES LIMITED — AGM Information 2012

Nov 28, 2012

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AGM PRESENTATION NOVEMBER 2012

 POSITIONED IN WORLD CLASS METALLURGICAL COAL FIELDS

Jameson is a pure play coking coal Company and owns coal projects within Canada’s prolific Elk Valley and Peace River coking coal fields

 SIGNIFICANT DEVELOPMENT EXPERTISE ON BOARD

Two highly credentialed coal mining executives : Mr David Fawcett and Mr Art Palm, both mining engineers with proven track records

 MODERN RAIL AND PORT FACILITIES

British Columbia provides excellent infrastructure for coal projects including three deep water ports, an extensive rail system, high quality roads and established power supply

 LONG TERM FUNDAMENTALS REMAIN ATTRACTIVE

Whilst short term demand has softened, geological scarcity and inadequate infrastructure in emerging regions will support prices in the long term

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Corporate Information
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	Capital Structure Shares on Issue 155m Options 9.5m Milestone Shares (Dunlevy/Nexx) 22m Directors Performance Shares 10.4m Major Shareholders Top 20 Shareholders 51% Directors(Fully Diluted) 14% Argyle Group 12% Macquarie Bank Ltd(Metals and Energy) 10% ASX : JAL Share Price (28 November 2012) A$0.22 Market Capitalisation A$33m Trading Range (6 month) A$0.21 to A$0.36 Cash A$5.0m Debt Nil	Capital Structure Shares on Issue 155m Options 9.5m Milestone Shares (Dunlevy/Nexx) 22m Directors Performance Shares 10.4m Major Shareholders Top 20 Shareholders 51% Directors(Fully Diluted) 14% Argyle Group 12% Macquarie Bank Ltd(Metals and Energy) 10% ASX : JAL Share Price (28 November 2012) A$0.22 Market Capitalisation A$33m Trading Range (6 month) A$0.21 to A$0.36 Cash A$5.0m Debt Nil
	Capital Structure
	Shares on Issue	155m
	Options	9.5m
	Milestone Shares (Dunlevy/Nexx)	22m
	Directors Performance Shares	10.4m

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– CANADA Operations

David Fawcett – Chairman

• Mining engineer with over 35 years coal experience in western Canada

• Proven track record for initiating and advancing new coal mine development

• Awarded the 2011 Canadian Institute of Mining, Metallurgy and Petroleum’s Coal Award for his role in reviving the northeast British Columbia coal industry

Art Palm – Executive Director Operations

• Mining engineer with 35 years of experience

• General Manager/Mine Manager of 5 producing underground coal mines in North America

• Extensive experience designing and managing mines (surface and underground) and coal preparation plants

• Lead consultant in the feasibility and construction of BHP Billiton’s San Juan Underground Mine in New Mexico

– AUSTRALIA Corporate

John Holmes – Managing Director

• Geologist with over 22 years of experience in the mineral exploration sector throughout Australasia

• Significant commercial and technical experience in the thermal and metallurgical coal sector in Western Canada

• Founding Director of Jameson Resources Ltd

David Prentice – Non‐Executive Director

Jeff Bennett – Non‐Executive Director

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• World class infrastructure which includes:

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• Deep water sea ports

• Extensive railway

• Quality road networks

• Cheap power supply

• Competitive shipping distance and limited demurrage time when compared to eastern seaboard of Australia

• Low sovereign risk and a mining friendly jurisdiction with an attractive and stable fiscal environment

• Abundance of high quality metallurgical coal

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Limited Supply of Metallurgical Coal
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Russia
8mt
Canada
PRINCE RUPERT
Europe North Asia 24Mt 24mt
54mt
99mt
Mongolia * WESTSHORE USA
SEOUL 29Mt
China NEPTUNE 56mt
27mt TOKYO 12Mt
India SHANGHAI
33mt
[Indonesia ]
DALRYMPLE South America
BAY 8000km
[Mozambique] Australia 22mt
141mt
NEWCASTLE
Exports
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Imports

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• [Developing Basin] Trade Flow

Port Capacity

Source: Wood Mackenzie 2011 data

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All projects close to infrastructure in coking coal fields responsible for Canada’s metallurgical coal exports

Crown Mountain Project

• 90% interest in Project

• Located in the Elk Valley coal field

• • and close to some of Canada’s major operating HCC mines

Peace River Projects

• 100% of Dunlevy and Nexx Projects

• • (Graham River, Peace Reach and Carbon East)

• Located in the Peace River coal

• • field and along strike from several operating HCC/PCI coal mines

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Jameson has 90% ownership with option to • acquire remaining 10% for C$2m Five coal licenses granted covering an area • of 2,588 hectares Situated in the Elk Valley, British Columbia’s • most prolific coking coal field Teck is currently producing 24Mtpa in this • region at a cash cost of US$114/t

Line Creek and Elkview HCC coal mines • within 15km of Crown Mountain

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Crown Mountain Project – Key Success Factors
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Mining



Targeting three major coking coal seams which are potentially amenable to open‐pit mining at low strip ratios

Processing



Coal seams interpreted to be the 8, 9 and 10 seams currently being mined at Teck’s Line Creek HCC operation located just 10km to the north

Transport



Located only 15km by road from the main CP rail connecting to the deep water ports at Vancouver. This existing rail and port infrastructure has spare capacity

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• Exploration program completed including 40

• • reverse circulation holes for 5,707m

Significant coal intersections from three major

• seams with up to nine individual members indicating potential for an open pit project

Best intercepts included;

14.7m coal zone from 13.6m (CM12‐01B) • 12.5m coal zone from 36.2m (CM11‐03B) 12.1m coal zone from 52.7m (CM12‐31) 17.8m coal zone from 85.0m (CM11‐02B)

• Drilling within the previously untested Southern

• • Extension intercepted multiple coal seams including 13.2m coal zone from 10.4m (CM12‐34B)

Section 03N Section 10S

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Crown Mountain Project – Cross Sections
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NORTH BLOCK

SOUTH BLOCK SOUTHERN EXTENSION

Seam / Interburden	Zone Thickness Average (m)		Seam / Interburden	Zone Thickness Average (m)		Seam / Interburden	Zone Thickness Average (m)
8 Upper Seam	12.7
Interburden	3.7
8 Middle Seam	4.6
Interburden	7.1
8 Lower Seam	4.0		8 Seam	6.1
Interburden	8.5		Interburden	15.1
8 Rider Seam	1.3		8 Rider Seam	4.3
Interburden	52.7		Interburden	20.3
9 Seam	5.6		9 Seam	3.4		9 Seam	12.7
Interburden	11.8		Interburden	7.5		Interburden	7.8
9 Rider Seam	2.4		9 Rider Seam	0.9		9 Rider Seam	5.5
Interburden	18.2		Interburden	9.5		Interburden	29.3
10 Upper Seam	11.6		10 Upper Seam	8.3		10 Upper Seam	4.4
Interburden	5.8		Interburden	10.3		Interburden	12.8
10 Middle Seam	1.1		10 Middle Seam	6.6		10 Middle Seam	1.4
Interburden	13.8		Interburden	13.9		Interburden	11.7
10 Lower Seam	1.7		10 Lower Seam	1.7		Moose Mtn Marker Bed
Interburden	17.9		Interburden	14.1
Moose Mtn Marker Bed			Moose Mtn Marker Bed

Note 1 ‐ The data presented in this summary table reflects the preliminary data available. Subsequent analysis and updates to the current model may result in modifications to the data and conclusions.

Note 2 – Where present thicknesses of coal seams are apparent thickness and include shale partings

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Preliminary coal quality results show coal has metallurgical properties below the limited oxidised • zone normally associated with coal outcrops

Seam 8, a thick seam uppermost in the sequence is showing potential for metallurgical volumes which was not expected

•

Ash content (ad) of the clean coal float at 1.5 SG • ranges from 5% to 15%, volatile matter 19% to 23%

Preliminary sulfur analyses indicate that these seams are typical of Western Canadian coals in Southeast BC in that total sulfur ranges from 0.3 to 0.6%.

•

Resource modelling is underway with completion of • the Crown Mountain NI43‐101 resource expected early Q1 2013 once final coal quality data has been received

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100% ownership of Dunlevy, Carbon East, • Peace Reach and Graham River projects within the Peace River coal field

Coal license applications cover 46,000 • hectares of prospective ground

Projects along strike from four operating • coal mines and a number of resource projects under development

High level of corporate activity within • Peace River coal field in past 2 years – Walter Energy, Xstrata, Anglo Coal, Cardero

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Recent M&A Activity in Peace River Coal Field
Anglo American
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Dunlevy – Key Success Factors
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Mining

 Potential for significant resources , with simple geology relative to existing mines

Coal measures in the southern half of the project occur in a gently dipping syncline with the western limb extending over some 10km x 4km

Processing

 Coal interpreted to be north extension of the coal bearing Gething Formation being mined by Walter Energy and providing HCC/PCI products

Transport

 Located near the CN rail line connecting to the deep water port at Ridley Terminals

Potential for barge route down Williston Lake to rail at Mackenzie on west side of Rocky Mountains

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Construction of forestry roads has exposed multiple coal • seams up to 3.5m in thickness

Exploration to date has included field reconnaissance and • trenching in 2009, and geological mapping in 2011 and 2012

Staged drilling program with the first phase including up to • 20 holes to commence on receipt of regulatory approvals

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Assessment reports in preparation for the geological

2km

• mapping undertaken over all Peace River Projects Aug ‐ Sept 2012

Preliminary results show significant section of the coal • bearing Gething Formation outlined within Carbon East project

Notice of Work to be lodged for exploration drilling • program following tenure approvals

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  Licenses Issued – Crown Mountain  Regulatory approvals for exploration program – Crown Mountain

 Drilling programs with coal quality test work – Crown Mountain

 Geological mapping and reconnaissance – Peace River Projects

 Regulatory approvals for exploration program – Dunlevy

• Drilling programs with coal quality test work – Dunlevy

 Resource estimation

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 Canada

 Exploring for Metallurgical Coal

 Projects

 Management Team

 Opportunities

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Level 2, 79 Hay Street Subiaco, WA +61 (8) 9200 4473

Suite 800, 1199 West Hastings St Vancouver, BC V6E 3T5 +1 (604) 629‐8605

www.jamesonresources.com.au

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This document has been prepared as a summary only, and does not contain all information about the Jameson Resources Limited’s (the “Company”) assets and liabilities, financial position and performance, profits and losses, prospects and the rights and liabilities attaching to the Company’s securities. This document should be read in conjunction with any public announcements and reports (including financial reports , third party studies and disclosure documents) released by the Company. The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the Shares or that there will be an increase in the value of the Shares in the future.

Further details on risk factors associated with the Company’s operations and its securities are contained in the Company’s prospectuses and other relevant announcements to the Australian Stock Exchange.

Some of the statements contained in this release are forward‐looking statements. Forward looking statements include but are not limited to, statements concerning estimates of coal tonnages, expected costs, statements relating to the continued advancement of the Company’s projects and other statements which are not historical facts. When used in this document, and on other published information of the Company, the words such as “aim”, “could”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressions are forward‐looking statements.

Although the company believes that its expectations reflected in the forward‐looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward‐looking statements. Various factors could cause actual results to differ from these forward‐looking statements include the potential that the Company’s projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by the Company or disclosed in the Company’s published material.

The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position.

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Exploration or technical information in this presentation to which this statement is attached that relates to exploration results is based on information compiled by Mr John Holmes, who is a member of the Australian Institute of Geoscientists. Mr. Holmes is a full time employee of Jameson Resources Ltd 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’. Mr. Holmes 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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