MINDAX LIMITED — AGM Information 2007

Nov 26, 2007

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Annual General Meeting 27 November 2007

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Water sampling near Quairading
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ASX-MDX ASX-MDXOA

ABN 28 106 866 442

MINDAX LIMITED

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Mindax has continued to evolve as an exploration company positioned in a number of key commodities that we see as strategically important in the future:

Iron Gold Copper Uranium

Mindax has a deliberate strategy of Exploration on a number of fronts to allow flexibility and to increase the chance of exploration success.

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highlights

• Granting of Mining Leases at Bulga Downs

• Palaeochannel uranium model in the Yilgarn-Avon

• Fugue and Toccata gold anomalies at Maynard North

• The Mortlock copper gold uranium Project

• The Mt Forrest Iron Project

• New levels of Corporate activity

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Mindax tenure

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Mindax tenement holdings now total 8500km[2] throughout the Yilgarn Craton in Western Australia

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the new age of iron

Iron is critical to the modernisation of Asia Australia is an established key supplier Complementary activities can exploit its infrastructure Juniors can play a part Need to take advantage in the short term

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Emerging Mid west iron province

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richardson ranges iron formations mt forrest – bulga downs

Mindax has a very significant iron position in the Richardson Ranges

Looking north along Cabaret limb

• Folded iron formations over 17 km

• Direct Smelting hematite ores

• Beneficiated magnetite ores

• Significantly low in phosphorus

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Mt forrest targets

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Mt forrest programme

	Mapping and sampling, Define drillholes	December	$50,000
	Permitting (Heritage, Flora, POW)	January - February	$50,000
	Earthworks and RCP Drilling	February - March	$300,000
	Looking south to Mt Richardson

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the coming age of uranium

Uranium is critical to an increasingly power reliant future but CO2 averse future

It offers base load generation with a very small footprint spatially and environmentally

Australia has an established position as a supplier and a capacity to play a leading role in nuclear technology Export has wide political support

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Mindax uranium projects

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7200km [2]
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Looking south across Caroline Gap

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Yilgarn-avon joint venture

Mindax has identified and secured a new uranium province in WA

• An extensive under recognised palaeo-river system of some 300km length

• high U to 1 ppm in headwaters

• Suitable carbonaceous traps downstream

• Environmentally attractive recovery technology

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Yilgarn-avon tenure

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6200km [2]
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Yilgarn palaeo-river

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YAJV uranium Programme

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Initial Aircore Drilling Programme	December - January	$195,000
Further Permitting (POW)	January - March	$50,000
Continuing Aircore Drilling	March - June	$390,000

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Everlasting gold standard

The gold price is expected to respond positively to an ailing US economy

Gold remains the best route to cash flow for a junior Our area of operations has a considerable gold endowment Our gold portfolio still has value

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Mindax gold projects

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1300km [2]
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Paradise bore – toucan bulga downs project

Mindax continues to explore for gold on its Bulga Downs – Sandstone tenements

• Work at Bulga Downs continues to indicate a commercial operation is possible

• Work is required to infill and quantify an indicated resource position at Paradise Bore

• Work is required to supplement that position from Toucan or Macaw

• New intercepts achieved at Toucan provide optimism

• New drill targets generated at Maynard North

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Paradise – toucan mineralisation

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Bulga project tenure

• The Bulga Downs project area falls within the Ida Valley Conservation Park proposal

• Under a recent ministerial announcement it falls into category 3 – to be resolved

• Mining leases were granted early in 2007 for 21 years by way of a state agreement

• Agreement includes the registered native title applicant

• MDX have carried out the first and only definitive floristic assessment of the area

• The announcement acknowledges the importance of mineral resource position in reaching a decision

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Sandstone Gold Programme

RAB Drilling Fugue and Toccata	February	$54,000
RC Drilling at Bulga Downs	March-April	$266,000
RC Drilling at Panhandle	April	$180,000
AC Drilling at Meekatharra North	April-May	$134,000

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Omnipresent base metals

As with iron, base metals such as copper are integral in Asia’s new economy

Base metal prices are expected to remain high with this demand and relatively low inventories They are a frequent partner of the gold, uranium and iron we search for We have an expertise in Base Metals

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Mortlock joint venture

Mindax has secured an interest in an exciting new copper-gold-uranium project in the Northam-Goomalling area to the east of Perth

The YAJV has placed an application over the Centre Forrest – Southern Brook copper-gold discovery. The Kalguddering uranium occurrence lies to the north.

The YAJV has separately farmed in to five exploration licences covering the geological extensions to this ground with a right to earn 80% interest.

This mineralisation in high grade metamorphic rocks is unusual but shares that characteristic with the Tropicana discovery in WA and the famous Hemlo gold deposit in Canada

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Mortlock tenure

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570km [2]
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Mortlock exploration

Centre Forrest Drill Section

Zone of U-Mo mineralisation

• peak values – gold: 4 to 6 g/t, copper: 0.7 to 1.3%

• strike persistence >700m at 0.1% Cu (limit of drilling)

• anomalous bismuth and tungsten, biotite with ore

• footwall uranium-molybdenum, K-spar

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Mortlock programme

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AEM Survey
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Airborne EM Interpretat ion	November December	$300,000 $10,000
Permitting (Heritage, Flora, POW)	January - February	$25,000
Earthworks and aircore Drilling	March- April	$100,000

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The road ahead

• Mindax has a busy year ahead

• Four good stories to be fleshed out

• Ongoing rationalisation of tenure

• Emphasis on drilling from early in the year