NEURIZER LTD — Investor Presentation 2008

Nov 27, 2008

Dr John G (Shad) Linley Director

Marathon Resources

Mt Gee Uranium Project URANIUM-RICH PARALANA MINERAL SYSTEM MT PAINTER INLIER, SOUTH AUSTRALIA

EL3258 and Regional Geology

Regional Radiometrics – Uranium (from GSA)

Satellite image of the northern Flinders Ranges

==> picture [707 x 388] intentionally omitted <==

----- Start of picture text -----

Mt Gee
Arkaroola
----- End of picture text -----

Local aerial view of the Mt Gee Project

Mt Gee

Mt Painter

Local aerial view of the Mt Gee Project

Gravity

Radiometrics - Uranium survey (CRA1990)

Mt Gee Uranium Project

– Mt Gee Uranium Project draped airphoto with 2008 block model

Sectional view looking toward the northwest – mineralisation >300ppm U3O8

Mt Gee Uranium Project

Long sectional view looking toward the WNW – mineralisation >300ppm U3O8

Mt Gee Uranium Project

Resource Estimate 2008 resource Sept by category

CONCLUSIONS

• (1) Diamond drilling completed in 2007 and 2008 by Marathon has increased the understanding of the geology and mineralisation at Mt Gee and has allowed the creation of new 3D models that are used to estimate the U O resource. 3 8

• (2) The Mt Gee mineralisation is part of an epigenetic hydrothermal ore -

• system with a SW - NE strike. It is contained within breccias and a N S, WNW - ESE and SW - NE trending structures.

• (3) The Mt Gee mineralisation is mostly uraninite. The geometry and thickness of mineralised zones and grade distribution are affected by structures within the mineral system.

• (4) New ground gravity survey suggests that the mineralisation at Mt Gee may extend to the NE and SE.

Block model U3O8 ppm>300 with gravity survey (corrected) N

FUTURE WORK

==> picture [614 x 379] intentionally omitted <==

----- Start of picture text -----

NE NS
Goldstream
Survey 2001
NE
----- End of picture text -----

THANK YOU

The Mt Gee Mineral Resource Estimate was based on information compiled on behalf of Marathon by Tony Marshall B.Sc (Hons) Uni.Melb., a Member of the AusIMM. Tony Marshall is Principal Geologist with SMGC and a full-time employee of that company. He has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Tony Marshall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.