LIONTOWN LIMITED — AGM Information 2012

Nov 26, 2012

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CHAIRMAN’S ADDRESS ANNUAL GENERAL MEETING 27 NOVEMBER 2012

I am pleased to report that Liontown has had a successful year, at its emerging Jubilee Reef Gold Project in northern Tanzania, where ongoing drilling has continued to demonstrate the exciting potential of this project.

The Project is located in the heart of the Lake Victoria Goldfield in Tanzania, which is currently the fourth biggest gold producer in Africa after South Africa, Ghana and Mali. This region boasts significant gold reserves and has several multi million ounce operating mines.

Liontown’s total drilling since inception of the Project in mid-2011 is over 21,000m, focusing mainly on the Masabi Hill prospect, where significant widths and grades of gold mineralisation have been intersected.

In the latest program of 13,000 metres of combined RC, diamond and aircore drilling, significant new results have been received from two prospects including Masabi Hill and Panapendeza. There are still a number of assays outstanding, from Masabi Hill.

Receipt of all outstanding assays and the interpretation of these results will give us a much clearer indication of our exploration priorities at Jubilee Reef moving into next year. Further drilling will be required to determine the controls of the mineralisation at Masabi Hill.

Our Managing Director David Richards will provide more details in his presentation shortly.

At Jubilee Reef, Liontown has earned a 51 per cent interest in the project and our joint venture partner, Currie Rose Resources, has elected to dilute its 49 per cent interest during the December 2012 Quarter. It is expected that Liontown will have an interest of approximately 65 per cent in the Project at the end of 2012.

At the Mt Windsor Project in Queensland, which now includes the Panhandle Project, Liontown’s joint venture partner, Ramelius Resources, continued a well-funded exploration program during the year. With total joint venture expenditure now in the vicinity of $5 million, under the terms of the agreement with Ramelius, they are required to spend a further $2 million for them to earn a 60% interest in the project.

With our growing expertise on the ground in Tanzania, it is likely that the Company will continue to focus its activities on the Jubilee Reef Project with the objective of discovering an economic deposit.

In conclusion, I remain very positive about Liontown’s prospects in Tanzania and I believe we will be able to provide shareholders with an opportunity for strong capital growth in the medium term.

David Richards will now provide an overview of the Company and its projects and will also field any questions. I will now close the meeting and thank you for your attendance.

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TIM GOYDER Chairman