PEEL MINING LIMITED — AGM Information 2014

Nov 27, 2014

28 NOVEMBER 2014

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ASX ANNOUNCEMENT

AGM PRESENTATION

Peel Mining Ltd is pleased to provide a copy of the presentation to be given by the company’s Managing Director, Mr Robert Tyson, at today’s Annual General Meeting.

Yours Sincerely,

David Lim Company Secretary

For further information, please contact Managing Director Rob Tyson on 0420 234 020.

Competent Persons Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr Robert Tyson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tyson has sufficient experience which is 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.’ Mr Tyson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Rob Tyson, Managing Director - AGM Presentation

• The views expressed here other than historical fact constitute forward-looking statements. Forward-looking statements are based upon estimates and assumptions considered reasonable by the Company, albeit subject to uncertainties and contingencies of unknown factors that may cause variation in such forward-looking statements beyond the Company’s ability to control or predict. Nothing in this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

Competent Persons Statement

• Information in this presentation that relates to the Mallee Bull/Cobar Superbasin/Apollo Hill Projects has been reported by the Company in compliance with JORC 2012 in various market announcements, the most recent of which was the September 2014 Quarterly Activities Report dated 31 October 2014. The Company confirms that it is not aware of any new information or data that materially affects the information included in the market announcement dated 31 October 2014.

• The information in this report that relates to Exploration Results is based on information compiled by Mr Robert Tyson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tyson is Managing Director of Peel Mining Ltd. Mr Tyson has sufficient experience which is 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.’ Mr Tyson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

• The information in this report that relates to the Mallee Bull Mineral Resource estimates, and reported by the Company in compliance with JORC 2012 in a market release dated 27 May 2014,. is based on information compiled by Jonathon Abbott, a Competent Person who is a Member of the Australian Institute of Geoscientists. Jonathon Abbott is a full time employee of MPR Geological Consultants Pty Ltd and is an independent consultant to Peel Mining Ltd. Mr Abbott has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking 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 Abbott consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Capital Structure

Shares on issue (ASX:PEX): 132 million Options: 3 million 3 million Market cap (@ 6 cps): $8 million Cash (at end June 2014) $2 million

Maximising PEX’s discovery potential:

• Low admin/corp costs at ~$200K per quarter

• Very high exploration to admin spend

• Farm-in and JV funding of core Cobar projects

• Lean, efficient, technical and practical team

• High exploration success rate

Substantial Shareholders

Hampton Hill Mining NL / 13.39% Wythenshawe Point Nominees Pty Ltd 11.60% William Hodgson & Assoc 8.72% Rob Tyson 5.34%

• Focus on drill testing

• Maximising every dollar – money goes into the ground

• Active – field operations underway with major

drilling programme commencing soon

We’re not good looking but we get things done

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Growing Base-Precious Metal Resources Company

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Cobar Superbasin Mines and Deposits

Approximate pre-mining resources

Metals

Deposit

~50Mt @ 8% Zn, 5% Pb, Endeavor Zn-Pb-Ag 50 g/t Ag CSA Cu ~50Mt @ 3% Cu Peak Au-Cu-Pb-Zn-Ag ~10Mt @ 7 g/t Au Hera Au-Pb-Zn ~2.5Mt @ 8 g/t AuEq Nymagee Cu-Ag-Pb-Zn ~9Mt @ 1.5% Cu Tritton Cu ~35 Mt @ 2% Cu Mineral Au-Cu-Ag-Pb-Zn ~6Mt @ 3 g/t Au, 1% Cu

Mineral Hill

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“Cobar–style” Deposits vs Mallee Bull Discovery	“Cobar–style” Deposits vs Mallee Bull Discovery
	Cobar-style attribute	Mallee Bull
	Polymetallic (Cu-Ag-Au-Pb-Zn)	
	Proximity to major structures	
	(growth/transfer faults)
	Shear-hosted	
	Strongly leached near surface	
	Chlorite and silica alteration	
	Facies and rock competency contrasts	
	Moderate to high strain zone	
	Short strike length (<200m)	
	Narrow widths (5-20m)	
	Vertical continuity (>400m)	
	Clustered/stacked lenses	

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An excellent place to explore:

• Highly prospective

• geology

• Large-scale landholdings

• Supportive, miningskilled community

• 100 km via Kidman Way (bitumen) to Cobar

• 50 km to Nymagee-Hera

• 15 km to Moomba-

Sydney gas pipeline

• 15 man camp

8

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Timeline:

• December 2010 – VTEM anomaly

• August 2011 - discovery drillhole

• May 2012 – CBH farmin

• August 2012 –

• confirmation of major discovery

• June 2013 –

mineralisation defined to ~750m below surface

• March 2014 – CBH

farmin complete

• May 2014 – maiden

resource

9

• ⁻ Some of the most significant copper results reported anywhere in the world in 2012/13 with better drill results including:

• –

• 69m @ 3.48% Cu, 34 g/t Ag, 0.14 g/t Au from 533m MBDD009

• –

• 53m @ 4.08% Cu, 42 g/t Ag, 0.22 g/t Au from 470m MBDD009W1

• –

• 84m @ 4.42% Cu, 38 g/t Ag, 0.14 g/t Au from 575m MBDD009W2W1

Cut off CuEq %	Category	Kt	Grade	Grade	Grade	Grade	Contained Metal	Contained Metal	Contained Metal	Contained Metal
			CuEq	Cu %	Ag g/t	Au g/t	CuEq Kt	Cu kT	Ag koz	Au koz
1.0	Indicated	620	2.22	1.73	29.0	0.54	14	10.7	578	11
	Inferred	3,300	2.8	2.4	32	0.3	93	79	3,395	32
	Total	3,920	2.7	2.3	32	0.3	107	90	3,973	43
* See Copper Equivalent information in Notes on page 19.

• See Copper Equivalent information in Notes on page 19.

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53m @ 4.08%
Cu, 42 g/t Ag,
0.22 g/t Au
84m @ 4.42%
Cu, 38 g/t Ag,
69m @ 3.48%
0.14 g/t Au
Cu, 34 g/t Ag,
0.14 g/t Au
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• Dips at ~75 degrees to the West

• ⁻

• Mineral Resource estimate drilling comprised 51 diamond drillholes for 21,083m and 19 RC drillholes for 4,422m

• ⁻

• Drillhole spacing varies from 20m by 20m and tighter in the to central areas to than 80m upper greater by

• 80m in peripheral areas and at depth

• ⁻

• ⁻ Mineralised domains extend from 125m below surface to 815m below surface with an width of ~6m average

• (up to 30m true thickness)

• ⁻ Mineralisation remains open along strike and at depth

• ⁻ Metallurgical flotation testwork indicates excellent recoveries of copper of up to 95%

• No estimates for Pb and Zn were made, however significant mineralisation is noted and will be the subject of future investigations

• ⁻

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• In-house scoping study completed highlighting the positive attributes of deeper, high-grade mineralisation

• Cobar-style deposits cluster and stack so the search for new mineralisation will continue with:

• ⁻ High-res airborne magnetics; gravity; portable XRF geochem; DHEM; and mapping completed by end of 2014

• ⁻ Airborne, ground & downhole geophysics; structural modelling; further metallurgical testwork and drilling during 2015

Peel Mining Tenure – mid-2011

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Peel Mining Tenure – mid 2014

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• Key aspects of the MoA are:

• ⁻ .

• Comprises 15 tenements covering more than 3,000 km[2]

• ⁻ Stage 1 – JOGMEC has the right to earn a 40% interest by funding $4,000,000 of exploration expenditure over a period of up to 3 years.

• ⁻ Stage 2 – JOGMEC has the right to earn a further 10% interest by funding a further $3,000,000 of exploration expenditure a period of up to 2 further years.

• ⁻ Minimum of $500,000 before withdrawing.

• ⁻ Peel to act as Operator.

• ⁻ JOGMEC has the right to assign its interest in the agreement.

• ⁻ Significant programme of work planned to commence imminently; ~7,000m RC at Sandy Creek, Wirlong, Red Shaft and Mundoe;~5,000m RAB/AC drilling programmes at Sandy Creek, Wirlong, Red Shaft, and Burthong.

• ⁻ $1m of exploration expenditure by 31 March 2015.

CSNDD001: 51m @ 0.7% Pb, 1.4% Zn, 5 g/t Ag PSCDD001: 19m @ 2.64% Pb, 0.31% Zn, 0.33% Cu, 16 g/t Ag incl. 4m @ 9.635Pb, 1.1% Zn, 0.5% Cu 48 g/t Ag

Sandy Creek features :

• Coincident magnetic, strong EM and strong IP anomalies

• Shearing and intense

• alteration observed over a

broad area

• Widespread surface

• geochem anomalism and strong drill anomalism

SCDD02: 10.2m @ 7.4% Pb, 0.1% Zn, 1.6% Cu, 68 g/t Ag

SCDD01: 25m @ 0.64% Pb, 1.42% Zn, 7 g/t Ag CSNDD004: 75m @ 0.79% Pb, 1.04% Zn, 8 g/t Ag

Sandy Creek upcoming work :

• Hi-Res airborne magnetic survey

• Up to 3,000m RC drilling targeting various anomalies

• Up to 2,000m RAB drilling to increase near surface

• geochem/geology knowledge

• Wirlong features :

• Coincident magnetic,

• radiometric, and strong IP anomalies

• • Shearing and intense alteration observed over a broad area

• • Widespread surface geochem anomalism and strong drill anomalism

• Apollo Hill

• ⁻ Aircore drilling to test for SE extensions to Apollo Hill Main Zone and NW Ra Zone mineralisation recently completed

• ⁻ Alteration mapping planned for 2015

• ⁻ Follow-up deeper RC drilling

• Mud Hut

• ⁻ New ELAs contiguous with Apollo Hill Tenure and covering extensions of Apollo Hill Shear Zone along with prospective greenstone tenure

• ⁻ Up to 1,200m of aircore drilling at Stockdale Prospect (under option) now underway

• ⁻ Stockdale prospect has had limited modern exploration; recent prospecting indicates good potential for primary mineralisation

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1
Cobar Basin = worldclass mineral province
2
Mallee Bull = high grade copper deposit
3
Farm-in/JV funding of core Cobar assets
4
Large strategic landholding with exciting prospects
5
Small team, high success rate, money goes into the ground
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19

Metal equivalent Calculations

• ⁻ Mineral Resource estimates include copper equivalent grades incorporating copper, silver and gold values. The copper equivalent grades are based on copper, silver and gold prices of $7000/t, $20.00/oz and $1300/oz with overall recoveries of 95%, 90% and 66% respectively. These estimates are based on Peel’s interpretation of potential commodity prices and the Company’s interpretation of first pass metallurgical test work performed on Mallee Bull diamond core using the following formula: Cu equivalent (%) = Cu (%) + 0.009 x Ag (g/t) + 0.415 x Au (g/t). It is the company’s opinion that all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold. Additional test work is required to demonstrate potential metallurgical recoveries for cobalt, lead and zinc.

JORC Code

• ⁻ All information within this presentation relating to Mineral Resources is referred to Table 1 as appended into ASX market release “Highgrade Copper Resource at Mallee Bull” dated 27.05.2014.

• ⁻ Any previously reported information within this announcement is referred to Table 1 of PEX’s Quarterly Activity Statement dated 31.10.2014 or other previously released Quarterly Activity Statements or to the Competent Persons Statements in the Disclaimer.

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For more information: Rob Tyson Managing Director info@peelmining.com.au Unit 1, 34 Kings Park Road, West Perth, WA 6005 Tel: 08 9382 3955

Nugget collected from Stockdale Prospect during current aircore drilling