MRG METALS LIMITED — AGM Information 2011

Nov 24, 2011

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MRG METALS LIMITED 2011 AGM Presentation

Andrew Van Der Zwan Managing Director 25 November 2011 ASX Code:MRQ

MRG Successfully listed in June 2011

• Raised over $5 million in Cash.

• 88 million Shares

• Trade range since listing 20-48 cents

• Current 32 cents

• Market Cap of $30 million

• Initial Suite of 5 Projects based in WA

• Xanadu Gold Project

• Braemore Battery Gold and Copper

• Mulgul Gold and Copper

• Diorite Gold project

• Bellchambers Gold and Copper

• Subsequent purchase of 2 opportunities after listing.

• Kalgoorlie East Gold and Nickel

• Collie South Coal and Bauxite

• Both high reward/low risk entries

• Further $440k raised on issue of 44 million loyalty options in September 2011

Kalgoorlie East

• Outstanding location with major gold deposits, Kalgoorlie Super pit ( >50 M oz) to the east and Kanowna Belle ( >5 M oz) to the north, highlight the considerable gold prospectivity of the Kalgoorlie East Project

• Region is home to a number of 100,000+ oz/annum gold producing mines. Consistent with conceptual target for this project.

• The 15 Tenements cover over 1700 hectares of underexplored prospective greenstone trends of the Golden Ridge Belt being the southern continuation of the Bardoc Tectonic Zone.

• The project acquisition augments MRG’s existing gold project portfolio which includes the Xanadu and Braemore Gold Projects.

• Tenements are also considered highly prospective for ultramafic - associated Ni - sulphide mineralisation similar to deposits within the same greenstone belt to the south. The Carnilya Hill and Blair nickel (both average in excess of 2.5%Ni and almost 2Mt of ore)

• Low risk acquisition cost, consideration of $20k plus expenditure reimbursement, one million fully paid shares (to be escrowed) and a 1.5% net production royalty.

• Proximity to excellent experienced labour force, mining and exploration contractors and supportive industry infrastructure.

• Interpretation of newly acquired aeromagnetic data to locate potential structural targets is underway.

Kalgoorlie East Timeline

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Collie South Coal

• Region has known reserves of 2.4 billion tonnes and confirmed resource in excess of 700 million tonnes.

• � Collie South target sits within this region and has potential consistent in magnitude.

• Potential for new coal bearing basins identified in acquired tenements, with limited previous exploration.

• � Collie South Coal project covers 101 Blocks covering >50 km2 within the Collie basin 26km x 13km x 2km thick.

• Known Coal fields have similar geological settings.

• � Low sulphur and low ash equates to a lower emission coal.

• Region is currently home to operating Coal mines.

• Recent acquisitions of Griffin Coal (within the Region) for $750 million, highlights the potential.

• � Sumitomo/Kansai $1 . 2 Billion purchase of coal (sourced from region) fired power station further highlights value of coal in region.

• Open cut coal extraction, suitable for export, is development objective.

• Augments MRG’s existing WA assets.

• Consistent with the MRG Board’s view towards favourable conditions for Gold, Copper and Coal over coming years.

• Great location with superb infrastructure and resources. (Fig 3)

• Low risk entry, $50,000 cost and 1 million shares. Options to expand ownership to 100% over next 3 years. ( currently 30% Equity)

• Tenements also prospective for Bauxite.

• Management committed to rapid exploration program.

Collie South Coal Timeline

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Other Tenement Review

� Xanadu

◦ Has known mineralisation and plan to further evaluate

◦ Recent data acquisition/evaluation underway

◦ Identify high grade target potential to enhance resource

� Braemore Battery

◦ Preliminary analysis looks promising

◦ Soil sampling program to commence in 2012

• Bell Chambers, Diorite and Mulgul

◦ Strategic review underway

• Evaluate potential versus effort and costing

• Complete prior to annual renewal

• Over $200k commitment annually

MRG will maximise opportunities while minimising cash burn on lower potential projects.

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Legal
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Available existing
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resource Opportunities
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MRG has access to the necessary expertise.
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Looking Ahead

• Existing suite of projects offer significant upside upon exploration

success.

• By Mid 2012, MRG should be well placed in its analysis of Kalgoorlie East and Collie South.

� MRG is well funded through 2013. Additional capital only required if d d s . it ramp up success eman

� Further opportunities are being evaluated as they become available …… and the current market is bringing opportunities on a regular basis.

� Focus on prioritising cash spend on highest potential projects. Strategic review of all tenements by end Q1, 2012. MRG is well placed.