MURRAY COD AUSTRALIA LIMITED — AGM Information 2011

Nov 24, 2011

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Chairman’s Address Annual General meeting – 25 November 2011

This is the first annual meeting of shareholders of the Company, whose shares were listed on the ASX in March of this year. The listing followed a successful IPO which raised $10 million through the leading stock broker, Ord Minnett.

The key objective of the Company is to grow into a profitable gold producer through successful exploration, development, and operation. A critical element in achieving this will be the making of astute acquisitions.

As part of the IPO, the Company acquired from Goldfields Australasia, the Lockington gold project in Victoria, on which Goldfields had identified the potential of a gold deposit. Over the past several months, Timpetra has conducted extensive exploration at Lockington, consisting of geological mapping, geochemistry and diamond drilling. The aim of the program was, first of all, to find, if it exists, a major fault structure that could control the deposition of economic gold mineralization. Our geologists termed this the “Lockington Fault”.

The Company drilled 5 holes which returned interesting results of sub economic mineralization but did not encounter the Lockington Fault. Follow up drilling of two wedges in Hole 4 hit a fault zone which our geologists are convinced is the fault they were looking for – the Lockington Fault. It has remnant aersenopyrite, suggesting that it was a principal conduit for mineralizing fluids when it was active. That is what is needed to allow for a presence of gold in economic grade and thickness.

The discovery of the Lockington Fault represents an encouraging success in the Company’s first exploration program. The area will be the focus of follow up drilling planned for early next year. The purpose of this is to find an economic concentration of gold mineralization related to the fault.

In parallel with the exploration program, the Company has been active in assessing acquisition opportunities. Over thirty gold projects or companies have been reviewed, some of which were attractive enough to warrant negotiation. So far no acquisitions have been made, but discussions are advanced in respect of one at the present.

With its experienced board and management, a quality exploration property, and a strong cash position, the Company is well placed to enter next year with optimism.