PATERSON RESOURCES LTD — Environmental & Social Information 2014

Nov 18, 2014

Burraga Community Update ‐ Nov 2014

Follows on FromCommunity Meeting Held in May

Community and Stakeholder Engagement

~ 2012: more than 100 people attended the information nights in Oberon and Burraga.

• ~ 2014: consultation activities:
  • ~Burraga – This presentation assumes attendance at meeting in May
  • ~Regular project information updates at: www.elysiumresources.com.au
  • ~ Regular media release to ASX at: www.asx.com.au
    • Oberonoffice at: 1 Endeavour Street
• ~ 2015: potential consultation activities:
  • ~Burraga & Oberon – Community meeting every 3‐6 month
  • ~Regular project information updates at: www.elysiumresources.com.au
  • ~Regular media release to ASX at: www.asx.com.au
  • ~ A public display at a local venue to provide information and an opportunity for the community to provide feedback during exhibition of the environmental assessment

~

May 2014 Information Provided

1	Pjtroec	bkdacgroun	litoune:
---	---------------------------------	------------------------------------------------	--------------------------------------

• i. intentions for near term(small scale production)
• ii. intentionsfor longer term explore to increase scale and mine life

2. CommenceEnvironmental Impact Study and permitting:

• i. Key to realizing near term goal
• ii. Timing to near term goal dependent on government departments

3. Drilling to:

i.	fdlIiiincreaseconencenmneraresource	(dflbl)ijiiiiittunerpnsproecnancavay
ii.	llbIiitttnsawaermonorngore	(fh)iiiitttttsasesgovernmenwaerauores
iii.	blflllkOiitttt‐ansampeormeaurgcaeswor	()flldiiittonazeprocesspanesgn

4. Project Design:

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i.	fhdBttttuyerorecopperconcenraeprouc	(ff‐k)ttoaeagreemen

ii. Construction (local and specialized) iii. Operation (local)

Preliminary Site Layout

Modified(more compressed) "Option #2" from May presentation

Rehabilitationof Previous Operations

Existing tailings & slag >>> modern day containment dams >>> return to natural vegetation

Not tobe distributed without express permission of Elysium Resources Limited.

EIS Conducted and Prepared by Independent Consultant 58%Complete

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Summary Time‐line

Work Package	Activities Completed	Activities Next Month		Percentage Complete			Work Package	Activities Completed	Activities Next Month	Percentage Complete
Air Quality			20	40	60	80	100	Heritage			20	40	60	90	100
	Engaged and briefed Aubin	Nil							Engaged & briefed Biosis	Nil
	Confirmed methodology with NSW EPA								Undertook background review
	Obtained Meteorological Data								Site visit conducted 27-29 May 2014
	Review of available data (part)								FINAL ABORIGINAL HERITAGE
	Compiled inventory of potential								REPORT ISSUED 30TH JUNE 2014
Flora and Fauna	emissions (part)			20 40	60	80	100		Draft European Heritage Report issued30 th June 2014
								Noise and Vibration			20	40	60	80	100
	Engaged and briefed Biosis	Nil							Engaged & briefed Telemetrix	Nil
	Reviewed available information								Confirmed methodology with NSW EPA
	3 day / 2 night field survey undertaken31 March - 2 April 2014								Derived background noise level
	Draft report prepared, reviewed byEndure and submitted to Elysium for								Identified principal noise and vibrationsources (part)
	second review on 29 th May 2014								Established project specific noise and
	FINAL FLORA & FAUNA REPORTISSUED 26™ JUNE 2014								vibration goals (part)
Greenhouse Gas			$\bullet$	40	60	80	100	Social Impact			$\bullet$	40	60	80	100
									Nil	Nil
	Nil	Nil						Surface Water			20	41	60	80	100
Groundwater			20	40	77	80	100		Engaged & briefed Aecom	Provision of advice
	Engaged and briefed Aecom	Elysium to arrange							Obtained and reviewed available data	regarding surface water
	Obtained and reviewed available data	installation ofgroundwater monitoring							Site visit conducted 23-24 June	flow monitoringON HOLD - Identify
	Site visit conducted 23-24 June	wells and commence							Teleconference with NOW on 31st July	administrative
	Memo relating to risks / strategies	monitoring in accordancewith finalised GMMP							Prepared up front chapters of report	arrangements regarding
	arising from site visit and review ofbackground information issued 26 th June	issued to NSW Office of							Researched equipment type and	purchase of waterentitlements / licensing
	Commenced introductory section of	Water							locations for proposed surface watermonitoring as per the GMMP	ON HOLD - Determine
	report									cost of water purchasefrom a broker
	Teleconference held with NSW Office ofWater on 31 * July							Traffic			$\bullet$	40	60	80	100
	Finalised groundwater monitoring and
	modelling plan								Engaged sub consultant (Aecom)	Nil

Not tobe distributed without express permission of Elysium Resources Limited. 2015 ‐…

• 1. Complete Fieldwork
• 1. Complete Project Design
• 1. Project Agreements well advanced / in place
• 1. Process andother plant ordered
• 1. Complete and Exhibit EIS
• 1. Determinationby Oberon Council
• 1. Submit MineOperations Plan
• 1. Obtainremaining approvals
• 1. Construction

Disclaimer

Caution on Forward‐Looking Statements

80%30%20%10%This presentation contains "forward‐looking information" which may include, but is not limited to, statements with respect to the future financial or operating performances of Elysium Resources Limited (EYM), its subsidiaries and their respective projects, the future price of minerals, the estimation of ore reserves and mineral resources, the realisation of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, limitations of insurance coverage and regulatory matters. Often, but not always, forward‐looking information statements can be identified by the use of words such as "plans", "expects", "is expected", "budget'', ''scheduled", "estimates", "forecasts'', ''intends", ''anticipates'', or "believes", or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may'', "could", "would", "might", or "will" be taken, occur or be achieved.

Forward‐looking statements involve both known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of EYM and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking statements. Although EYM has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward‐looking statements, there may be other factors that cause actual actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements.

JORC Compliance Statement

The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore reserves is based on information reviewed or compiled by Neb Zurkic BAppSc(Geol), MSc(Min & Energy Economics), a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy and a Registered Professional Geoscientist with the Australian Institute of Geoscientists. Mr. Zurkic is employed by Zurkic Mining Consultants Pty Ltd. Mr. Zurkic has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Mr. Zurkic consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Zurkic Mining Consultants Pty Ltd, which is owned and controlled by Mr. Zurkic, owns shares in Elysium Resources Limited and provides consulting services as required to both companies.

Exploration Targets

References to Exploration Targets or Targets in this document are in accordance with guidelines of the JORC Code (2012). As such it is important to note that the reported Targets are based on existing data, historical production and geology models. Any references to grade and quantity are conceptual in nature. Exploration carried out to date is insufficient to be able to estimate and report mineral resources in accordance with the JORC Code (2012). It is uncertain if further exploration will result in the determination of a Mineral Resource.

People

Chairman

MICHAEL D TILLEY —BA FCA

30+years, broad range of senior advisory and project management experience in all facets of corporate finance

ExecutiveDirector,

MAXIM J CARLING —B COM BA

30+years experience in corporate finance and has advised a diverse range of companies in the mining industry

Non‐ExecutiveDirector, Company Secretary and CFO

MARK OHLSSON —FCPA

30+ years experience, spans a wide range of industries and activities which includes a number of appointments as Company Secretary of ASX listed companies.

TechnicalDirector

NEB ZURKIC —BAppSc (GEOL); M MINERAL & ENERGY ECONOMICS; MAUSIMM MAIG

23+ years experience, spans a wide range senior management technical and corporate roles at both small and large mining companies.

Burraga / Oberon Based

Project Development Manager DEAN PONTIN— BAppSc (SURV); Grad.Dip. (Mining)

25+ years experience, all aspects of operations management, short‐term and long‐term planning and engineering, mine operations supervision, environmentalengineering, budgeting and contractor negotiation and supervision.

Geologists ROB HARDY— BSc (GEOL.), NATASHA JACOBS— BSc (GEOL. & GEOPHYS.); BSc (Adv. Mathematics)

Severalyears experience with Elysium and other explorers in NSW.