PEEL MINING LIMITED — Investor Presentation 2014

May 27, 2014

Rob Tyson, Managing Director - Broken Hill Conference

• 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 Project has been reported by the Company in compliance with JORC 2012 in a market release dated 30 April 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 30 April 2014. Information reported in this presentation (other than in respect of the Mallee Bull Project) relating to Exploration Results was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

• 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 (@ 18 cps): $24 million Cash (at end March 2014) $3.9 million

3 Year Chart

Substantial Shareholders Hampton Hill Mining NL / 13.39% Wythenshawe Point Nominees Pty Ltd 11.60% Acorn Capital 6.54% Rob Tyson 5.30%

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Maximising PEX’s discovery potential:

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

• Very high exploration to admin spend ratio

• • Lean, efficient, technical and practical team

• High exploration

• success rate

• Focus on drill testing

• Maximising every dollar – money goes into the ground

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

• 15 km to Moomba-

Sydney gas pipeline

• 15 man camp

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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

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⁻

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

• –

• 41m @ 1.71% Cu, 33 g/t Ag, 1.84 g/t Au from 363m MBDD002

• • – 31m @ 2.65% Cu, 51 g/t Ag, 0.18 g/t Au from 415m MBDD002

• • – 42m @ 1.01% Cu, 23 g/t Ag, 0.91 g/t Au from 356m MBDD004

• • – 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

• • – 32m @ 3.62% Cu, 46 g/t Ag, 0.21 g/t Au from 634m MBDD010

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
0.0	Indicated	640	2.18	1.70	28.6	0.53	14	10.9	588	11
	Inferred	3,300	2.7	2.3	32	0.3	90	76	3,395	32
	Total	3,940	2.6	2.2	31	0.3	103	87	3,984	43
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
1.8	Indicated	450	2.46	1.92	30.5	0.65	11	8.6	441	9
	Inferred	2,600	3.1	2.7	36	0.3	82	70	3,009	25
	Total	3,050	3.0	2.6	35	0.4	93	79	3,451	34

• See Copper Equivalent information in Notes on page 19.

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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 recoveries of 95%, 90% and 66% copper, silver and gold respectively

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

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⁻ In-house studies to commence scoping looking at variety of development options from stand alone to dig and truck

• ⁻ Comprehensive metallurgical testwork

• ⁻ Cobar-style deposits cluster and stack so the search for another Mallee Bull will continue

• ⁻ Airborne EM over balance of tenure

• ⁻ Ground geophysics

• ⁻ Continued geochemical sampling and geological/structural mapping

• ⁻ Drilling where appropriate

Peel Mining Tenure – mid-2011

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Peel Mining Tenure – mid-2014

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• 14 granted ELs covering more than 3,062 km[2]

• Sandy Creek, 20 km north along strike of Mallee Bull, highest priority prospect

• Coincident magnetic, strong electromagnetic and IP anomalies

• Historic drilling yielded encouraging results:

  • 1.4m at 12.7% Zn, 5.7% Pb, 45g/t Ag from 199.7m

  • 10.2m at 1.6% Cu, 7.4% Pb, 68g/t Ag from 521.8m

  • 4m at 0.5% Cu, 9.6% Pb, 1.1% Zn, 48g/t Ag from 493m

• Relogging of all Sandy Creek drillcore recently completed – strong shearing and intensive alteration over broad area indicative of significant hydrothermal system

• • Untested HeliTEM anomaly identified; follow-up surface EM underway

• ⁻ Wirlong and Red Shaft Prospects

• Sheared and outcropping Shuttleton volcanics and sediments present at both prospects

• Extensive and untested Cu and Pb soil geochemical anomalies comprising:

  • 100ppm Cu anomaly: 750m strike with 125m width

  • 700ppm Pb anomaly: 450m strike with 75m width

1 Cobar Basin = worldclass mineral province 2 Mallee Bull = high grade copper deposit 3 Strong partnership through CBH Resources JV 4 Large strategic landholding with exciting prospects 5 Small team, high success rate, money goes into the ground

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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 30.04.2014 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