MRG METALS LIMITED — AGM Information 2012

Nov 26, 2012

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MRG METALS LIMITED 2012 AGM Presentation

Andrew Van Der Zwan Managing Director 27 November 2012 ASX Code: MRQ

• The information contained in this presentation has been prepared by MRG Metals Ltd (MRG). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in MRGP. This presentation has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement or offer information statement. This presentation is not subject to the disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act.

• While the information contained in this presentation has been prepared in good faith, neither MRG nor any of its directors, officers, employees, agents or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. Accordingly, to the maximum extent permitted by law, none of MRG, its directors, officers, employees, agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this presentation.

• This presentation may contain statements that may be deemed ‘forward looking statements’. Forward risks, uncertainties and other factors, many of which are outside the control of MRG, can cause actual results to differ materially from such statements. Such risks and uncertainties include, but are not limited to, commodity price volatility, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. MRG makes no undertaking to update or revise such statements, but has made every endeavour to ensure that they are fair and reasonable at the time of making the presentation.

• Investors are cautioned that any forward looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in any forward looking statements made.

• Exploration targets are conceptual in nature and drilling may not convert these to resources.

MRG has reconfigured its exploration assets

• Initial Suite of 5 Projects based in WA

• Xanadu - Gold

• Braemore - Gold and Base Metals

• Mulgul – Base Metals

• Diorite – Gold

• Bellchambers - Gold and Copper

• Subsequent purchase of 3 opportunities after listing.

• Kalgoorlie East - Gold and Nickel

• Collie South - Coal and Bauxite

• Fraser Range – Gold and Nickel

• High reward/low risk entries

• Subsequent divestment (while maintaining royalty interest)

• Mulgul

• Diorite

• Bellchambers

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

We maintain a positive view . on Copper, Gold and Silver

Copper:

We remain positive about the impact of changing supply-demand dynamics on future copper. In spite of weaker European and US economies, the copper price has held between US$3.40 and US$3.80/lb over the past year with consensus forecasting a deficit in global supply over the coming decade due to insufficient new supply coming on stream.

Gold:

Gold continues as a store of value, both as an alternate to currencies, which collective governments are trying to de-base, and as a hedge to inflation , which will arise as a result of Federal bank actions. So, the great opportunities in gold stocks today are not due to this future potential, but a colossal past disconnect., where Gold stocks have not reflected the underlying increase in the value of Gold. But this glaring fundamental anomaly won’t last forever, stock prices will better reflect the in ground value of the assets and the longer term production profits.

Silver:

As goes Gold goes Silver, but with more normalised supply and demand economics and with limited new production coming on stream, Silver prices should continue to grow and the historical ratio of Gold to Silver should progressively return from current ratios of 50+ to back below 30. All good news for Silver producers.

Coal is currently under pressure due to displacement by US gas production ….but long term global energy needs look favourable for longer term higher prices.

Kalgoorlie East

 Outstanding location with major gold deposits, Kalgoorlie Super pit (>50 M oz) to the west and Kanowna Belle (>5 M oz) to the north, highlight the considerable gold prospectivity of the Kalgoorlie East Project. Nimbus Silver Super pit less than 2km to the east, of 12 million oz of Silver which highlights the silver 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.

• After completing further soil sampling analysis at its Kalgoorlie East Project during the March and June 2012 Quarters and the results of the ground electromagnetic survey (EM), MRG completed its first pass RAB and RC drilling program on the key targets, in September 2012, at Kalgoorlie East and has:

• Identified numerous low level Gold anomalies.

• Identified 3 base metal target areas, via surface EM analysis, requiring further exploration.

• Identified an area of elevated Silver readings in the southern block near Nimbus.

• Follow up drilling on the southern Silver area and RC drilling at the EM target during November 2012.

Kalgoorlie East Timeline 2012/13

Xanadu

• Project covers a 10 kilometre long Gold mineralised trend.

• Adjacent to Northern Star Resources 1 million oz (and growing) Gold discovery.

• Sparta and Peake prospects (>120,000 oz discovery) lie less than 1 kilometre from Xanadu.

• Resource targets > 200,000 oz of Gold in numerous targets.

• 11 targets identified (refer Figure 1)

• Previous heap leaching operation with residual ounces.

• Prior drilling by Newcrest provides vectors to future targets.

• Drilling program to target known anomalous areas and new unexplored targets identified via structural analysis of satellite imagery.

• Drilling program funded through 2013.

• Priority targets are Claudius, Caesar and Stynes prospects. –

• MRG now plans to focus on 3 main areas of potential:

• a) Monetise the residual gold ore in the leach pad.

• ◦ b) In fill drill of the tenements based on previous exploration data.

• c) Drill new targets based on the recent analysis of new Satellite data.

Xanadu Timeline 2012/13

• 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.

• 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.

• 3 of 6 Targets drilled in October, 2012

• Proof of concept achieved. 2 areas of Coal identified.

• Clean black coal was also discovered in area 1 on private land held by the WA Department of Water. The coal seam was intersected in two holes 80 metres apart. The coal seam is 3 metres thick and occurs at 11 metres below surface.

• In target area 3 a 400 metre wide band of mixed coal and sandy clay (estimate 30 to 40% coal) was discovered approximately 10 metres deep and ranges from 2.5 to 6 metres thick.

• Coal occurs at shallow depths.

• Strike extensions of preliminary discoveries to be sought.

• The next step will be ground geophysical analysis to better define the location of the coal sub basins within the broader basin. Future holes could then be better targeted.

Collie South Coal Timeline 2012/13

Fraser Range

 Acquired in Q2 MRG is awaiting formal grant of the tenements before initiating any field activities. The prospective Gold tenements lie along the Tropicana geological feature extension, known as Fraser Range. Tropicana Gold has identified over 5 million ounces.

• The project is consistent with MRG’s strategy to develop world class Gold assets.

• The tenements sit within MRG’s WA tenement focus.

• The project is in an area currently being evaluated by Thor Mining Ltd, Ausquest Ltd and Anglogold Ashanti Ltd.

• The Company expects that these new tenements will be granted late in 2012.

• Recent Ni/Cu discovery by Sirius Resources Limited in their Fraser Range tenement to the North further enhances the potential of this relatively under explored region.

Fraser Range Timeline 2012/13

Looking Ahead

• Existing suite of projects offer significant upside upon further

exploration success.

• By Mid 2013, MRG should be well placed with significant exploration data on Kalgoorlie East, Collie South and Xanadu with some preliminary work starting on Fraser Range.

• MRG is well funded through 2013. Additional capital only required if ramp up success demands it.

• 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, 2013.

MRG remains well placed.