RAREX LIMITED — Investor Presentation 2012

Aug 5, 2012

ASX: CLY Clancy Exploration Limited

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Diggers and Dealers August 2012

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Disclaimer

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The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase, any security in Clancy Exploration Limited (“CLY”) nor does it form the basis of any contract or commitment. CLY makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material. CLY, its directors, employees, agents and consultants, shall have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions, information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from this material except liability under statute that cannot be excluded.

Statements contained in this material, particularly those regarding possible or assumed future performance, costs, prices, resources, reserves or potential growth of CLY or, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors and risks, many of which are outside the control of CLY and its directors. Investment in the securities of CLY is considered to be highly speculative.

The information in this material that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Gordon Barnes who is a Member of the Australian Institute of Geoscientists. Mr Barnes is a fulltime employee of Clancy Exploration Limited and 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 Gordon Barnes consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Investment Highlights

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Clancy is a quality explorer with a scientific and strategic approach

• Clancy holds a commanding position in a world class mineral province, the highly prospective Lachlan Fold Belt in NSW

• Primarily targeting porphyry and epithermal gold, copper, silver and base metals

• Clancy is an aggressive explorer – more than 110,000m of drilling completed on NSW projects since IPO in July 2007 (averaging 23,000m pa)

• All 5 prospects drilled at Condobolin in 2011/2012 have yielded promising results, including a virgin high-grade gold discovery at Meritilga:

• 4m @ 20g/t Au & 30.2g/t Ag ; incl 1m @ 62g/t Au and 60g/t Ag

• Experienced board and management with supportive shareholders who are committed to growing the business through discovery and M&A

• Several M&A opportunities reviewed for an advanced flagship project, including:

• Takeover bid launched for Genesis Resources Ltd (ASX: GEX) on 2 April 2012 (Plavica goldcopper-silver project in Macedonia)

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Clancy Snapshot

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Clancy is a quality exploration company with:

• High quality exploration assets

• A promising outlook for targeted commodities

• A focussed exploration strategy

• Talented and experienced management team

• Risk managed exploration

• Robust project targets

• Project identification and assessment capability for M&A

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CLY share price and volume
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7.9%
7.4%
4.0%
80.7%
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1. Closing price 31 July 2012

Evolution Capital Management Austock Capital Management Board & Management Others

Company Structure	Company Structure
Market Capitalisation	$4,104,377
Share price1	$0.024
Shares on issue	171,015,691
Listed Options (ASX:CLYO)	94,134,786
Unlisted Options	4,800,000
Cash2	$1.56m
Debt	-

1. As at 30 June 2012

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Board and Senior Management

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Dr Mike Etheridge		Non-Executive ChairmanPhD, FTSE, FAICD, FAIG, FGSA Mike is a geologist who has had a varied career in academia, a government research organisation and in industry. Mike was Chairman of SRK Australasia until 2004, pursuing a career as a professional company director. He is currently non- executive chairman of ABM Resources Ltd (ASX: ABU) and Zeus Uranium Ltd, and a non-executive director of DET CRC Ltd.	Non-Executive ChairmanPhD, FTSE, FAICD, FAIG, FGSA Mike is a geologist who has had a varied career in academia, a government research organisation and in industry. Mike was Chairman of SRK Australasia until 2004, pursuing a career as a professional company director. He is currently non- executive chairman of ABM Resources Ltd (ASX: ABU) and Zeus Uranium Ltd, and a non-executive director of DET CRC Ltd.
Mr Gordon Barnes		Managing DirectorBSc, MSc, MAICD, MAIG, MSEG Gordon is an exploration geologist with a background in exploration project management and technical consulting services. He has 24 years of practical experience, ranging from active field based projects through to multi-commodity project generation initiatives. Gordon was a Senior Geologist with Normandy Exploration before co-founding the Insight Geoscience Group. Gordon was Australasian Exploration Manager with Geoinformatics Exploration prior to joining Clancy when it listed in 2007.
Dr James Macdonald		Non-Executive DirectorBA (Hon), MSc, PhD, PGeo, FSEG James has over 30 years of experience in the global exploration and mining industries. He is a geoscientist who has operated a consultancy business providing professional geoscientific services to exploration and mining companies for several years. He has held chief Geoscientist and Management positions with a number of companies, including BHP Billiton, AGIP Resources, and Homestake Mining Company.
Mr Mark Lester		Non-Executive Director (Financial)B.Com, CA Mark is a Chartered Accountant with experience working in both public accounting firms and also within the financial services and manufacturing sectors. Currently Mark is a partner in a Chartered Accounting practice based in Subiaco, Western Australia. Mark is also a Registered Auditor and a director of a Registered Tax Agent.
Dr Jeff Vassallo		Exploration ManagerBSc (Hons), PhD, MGSA, MAIG Jeff is an exploration geologist with 10 years practical experience in studying and exploring the Lachlan Orogen in NSW. Jeff was previously the Team Leader of regional mapping for the Geological Survey of NSW. He has been with Clancy actively exploring in NSW since 2008.
Senior Management		Chief Financial Officer	Natalie Forsyth-Stock
		Company Secretary	Rowan Caren
		Senior Geologist	Kristy Vassallo
		Office Manager	Clarissa Lark

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Introduction to Clancy Exploration

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Clancy Introduction

• Clancy is an exploration company targeting gold, silver, base metals and tin

• Clancy focuses on risk-managed exploration

• Clancy has a 23 projects: 13 are wholly owned and the remainder are JVs

• The majority of Clancy’s projects are located in Central NSW

• Clancy’s other projects are located in Western NSW, Tasmania and WA

Clancy History

• Established in 2003 as a wholly owned subsidiary of Geoinformatics Exploration (GXL) which conducted targeting in NSW and Tasmania

• Clancy commenced an alliance with Gold Fields Australasia Pty Ltd (“Gold Fields”) in NSW in 2004 and an alliance with Bass Metals Limited (“Bass”) in Tasmania in 2005

• Probabilistic targeting commenced in 2005 to produce a pipeline of targets

• Clancy listed in July 2007 and target testing commenced in late 2007

• Key projects Condobolin and Trundle were acquired in 2009

• Head office transferred to Orange NSW in January 2011

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Project Portfolio Overview

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Central NSW – Lachlan Fold Belt

• The Lachlan Fold Belt is the main focus for Clancy

• Targeting gold-copper porphyry and epithermal gold-silver-base metal mineralisation

• Twelve wholly owned and managed projects

• Seven JV projects with Gold Fields which are managed by Gold Fields

Tasmania JV’s – Mt Read Volcanic Belt

• Two tin projects managed by TNT Mines

• Two base metal projects managed by Bass Metals

Western Australia Project – Murchison Province

• One wholly owned base metal and gold project in adjacent to Golden Grove base metal mine

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Clancy Project
Locations in
Australia
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Project Locations

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Central NSW
Tasmania
Murchison WA
Western NSW
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Lachlan Fold Belt – Macquarie Arc, NSW

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Significant discoveries in the Macquarie Arc

• Macquarie Arc has endowment (production + resources) of over 80 Moz of gold and 13 Mt of copper

• Most of this discovered in the last 18 years

• Clancy has over 3,000km[2] in this richly endowed terrain

• Companies currently mining in the area include:

• Rio Tinto at Northparkes (>2.9 Moz Au, >2.1 Mt Cu)

• – Newcrest at Cadia Valley (>67 Moz Au, >10Mt Cu)

• – Barrick at Cowal (> 4.5 Moz Au)

Clancy recent activity

• Condobolin : drilling completed Feb 2012

• Trundle : drilling completed Jan 2012

• Gobondery: drilling completed Feb 2012

• Cundumbul : geochemistry and mapping in progress

• Orange East and Billabong Creek : geochemistry

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Regional Magnetics

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The Macquarie Arc has prominent magnetic and gravity anomalies

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Macquarie Arc Mesozoic Basin boundary

Northparkes (Rio Tinto mine) >2.9 Moz Au >2.1 Mt Cu

Cowal (Barrick mine) > 4.5 Moz Au

Marsden (Newcrest resource) 190 Mt @ 0.19g/t Au, 0.35% Cu

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Temora (Goldminco) 150 Mt @ 0.41g/t Au 0.31% Cu

Cadia Valley (Newcrest mine) >67 Moz Au >10Mt Cu

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10

Central NSW – Exploration Hotspot

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RTP magnetics, major mines, significant prospects and Clancy tenements in central NSW

Tritton – Straits – 2010 production 81Kt of Cu con (25% Cu)

CSA – Glencore – 2010 production 150Kt of Cu con (29% Cu)

Mallee Bull – Peel Mining: 10m @ 9% Pb, 11. Zn, 41g/t Ag & 0.77g/t Au; 11m @ 2.7% Cu, 36g/t Ag & 0.26 g/t Au

Mineral Hill – Kimberley Metals : Parkers Hill resource: 493.6Kt @ 2.17% Cu, 1.07% Zn, 0.85% Pb, 29.5g/t Ag & 0.43g/t Au Pearse intercepts: 21m @ 14.5g/t Au & 14g/t Ag 14m @ 16.7g/t Au & 8g/t Ag 49m @ 10.7g/t Au & 119g/t Ag

Hera / Nymagee – YTC : Hera : 2.18Mt @ 4g/t Au, 15.6g/t Ag, 2.8% Pb, 3.9% Zn, 0.2%Cu

Nymagee intercepts: 8.9m @ 7.2% Cu, 24g/t Ag & 0.16g/t Au from 370.5m

10m @ 7.1% Cu, 0.21g/t Au, 39.7g/t Ag from 379m

53m @ 2.3% Cu from 34m

Blind Calf – Kidman Resources : 23m @ 7.07% Cu & 8.87g/t Ag, incl. 5m @ 13.45% Cu & 16.98g/t Ag 40m @ 1.36% Cu, incl 9m @ 3.26% Cu

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Condobolin EL7748 – 100% owned

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Background

• Mined in the 1890’s to early 1900’s

• Shallow drilled in 1970’s to 2000’s

• Ordovician Girilambone Group (poorly understood)

• Mineralisation at Condobolin shows strong similarities to the Mineral Hill mine:

• Owned by Kimberley Metals Ltd (ASX:KBL)

• Producing of Cu, Ag, Au, Pb and Zn from Pearse and Parkers Hill deposits

• Annual production of 4,000t Cu, 20,000oz Au and 150,000oz Ag

• Mineral Hill Volcanics (Silurian)

Condobolin Project

• EL7748 – 363km[2]

• Covers entire Condobolin Mineral Field

• Former JV option project with Gold Fields

• Now owned 100% by Clancy

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Condobolin Mineral Field

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Numerous mineral
occurrences
Historic Mining
•
Actively mined in the 1890’s to early 1900’s at
Phoenix, Mascotte and Bluebell for Au, Cu, Pb, Ag
and Zn
•
Mining ceased due to water at 70-90m depth
•
Drilling between 1970’s and 2000’s
–
More than 500 shallow holes drilled (mostly RAB)
–
Average depth of 24m
–
Drilling was again halted by water
•
The mineral field has not been effectively explored
below the weathered zone (30m)
CONDOBOLIN HISTORIC MINING DETAILS
PHOENIX BLUEBELL MASCOTTE POTTERS
• 1893 – 1907: Au, Cu, Pb & Ag • 1898-1906: Au & Cu • 1899-1914: Pb, Au & Ag • 1905-1925: Ag, Pb & Zn
• ~ • • •
6 g/t Au, ~5% Cu, ~10% Pb ~9% Cu, ~6 g/t Au ~15% Pb, 5g/t Au, 12oz/t Ag ~25oz/t Ag, ~55% Pb
• 70m depth, 10m wide • 30m depth, 26m along strike • 94m depth and 105m along • 100m depth, 90m along
• Epithermal veins strike strike
• Epithermal veins
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Condobolin Work Program CONDOBOLIN Upcoming work

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Work completed by Clancy:

• Rock chip sampling and mapping

• Aeromagnetic / radiometric survey

• Extensive auger soil geochemical survey

• 3D IP survey

• RC, AC and DD drilling

Highlights:

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Phoenix rock sample 22.5 g/t Au, 56g/t Ag, 1.15% Pb

• Rock chip sampling:

• 7 of 12 samples >5g/t Au (max 26g/t Au); 2 samples >5% Cu (max 8.53% Cu); 1 sample 25.3% Zn

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• Auger soil geochemistry:

• Large 3 x 2km +100ppm As anomaly  large hyrdothermal system with historic workings on periphery

• Radiometric survey identified significant K anomalies:

• Potassic alteration associated with hydrothermal system

• 3D IP survey identified significant chargeable anomalies:

• Confirming presence of broad zones of sub-surface sulphide mineralisation

Phoenix rock sample 8.52% Cu, 56g/t Ag, 0.95% Pb

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Condobolin Work Program CONDOBOLIN Upcoming work

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Promising early drill results:

• All 5 prospects drill tested to date have yielded promising results

• Virgin high-grade gold discovery at Meritilga:

• 4m @ 20g/t Au & 30.2g/t Ag from 75m; incl 1m @ 62g/t Au & 60g/t Ag

• Confirmed depth extension to gold mineralisation at the Phoenix prospect:

• 9m @ 4.08g/t Au from 72m; incl 2m @ 14.18g/t Au

• The host rock sequence is most likely Silurian in age

• Suggests the mineralisation is the same age as Mineral Hill

• Confirmed extensions to base metal mineralisation at the Potters prospect:

• 2m @ 7.1% Pb, 2.4% Zn and 83.5g/t Ag from 51m

• 4m @ 4.1% Zn, 2.87% Pb and 29.6g/t Ag from 136m

• Visible gold in AC hole at Eureka NE of Meritilga

• Several other basement AC intercepts to be followed up:

• 2m @ 3.99 g/t Au from 28m

• 1m @ 4.75 g/t Au from 44m

• Potential for alluvial gold identified in shallow AC drilling

• 1m @ 28.4 g/t Au from 4m

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Eureka aircore chip Visible gold (grain is 3mm across)

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Condobolin – 2011 & 2012 drilling

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2012: 4m @ 20g/t Au;
incl 1m @ 62g/t Au
2011: 9m @ 4.08g/t Au;
incl 2m @ 14.18g/t Au
2011 drill hole
2012 drill hole
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Condobolin – K radiometric anomaly at Meritilga

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Next slide
K enrichment associated with
Meritilga alteration system
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Meritilga – 2012 drill results and IP chargeability

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Section
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Meritilga upside

• 600m strike length, multiple lodes, high-grade plus low grade, polymetallic (zoned?)

• Only 11 RC holes into Meritilga zone to date – barely scratched!

• Open down dip and along strike

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Meritilga – drill section looking to northeast

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Condobolin Telescoped System

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The emerging concept is that there is a deep intrusive which could be driving a large hydrothermal system

• This system generated the numerous polymetallic historic mines and workings

MERITILGA • The numerous styles of Au, Cu, Pb, Ag and Zn mineralisation in the district could be a manifestation of a substantial zoned hydrothermal system

• Mineralisation and alteration identified to date is consistent with a low-sulphidation epithermal system

• Skarn mineralisation is also present

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Condobolin – geology and exploration upside

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8% of tenement area is outcrop / subcrop Average depth of cover in nonoutcropping areas is <5m  very easy to explore Aeromag survey boundary 98% of historic mineral occurrences are within 200m of outcrop Area worked on to date Conclusion • Easy to explore • Barely scratched! • Excellent potential

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Condobolin – K radiometrics and DEM

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Potassium (K)
Digital Elevation
radiometric
Model (DEM)
anomalies
Untested
Untested
Meritilga K Anomaly
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Conclusion

• K radiometric anomaly at Meritiliga

• Several K radiometric anomalies north of Meritilga are yet to be tested

• Note – Mineral Hill Volcanics are K-rich

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Condobolin – Summary

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Excellent potential

• High-grade gold drill intercepts at Meritilga and Phoenix

• Significant untested strike potential at Mertilga

• Polymetallic (gold, silver and base metal) mineralisation – zoned intrusive related system?

• Strong similarities to Mineral Hill

• Several untested K radiometric anomalies (Mineral Hill Volcanics)

• Easy to explore

• Owned 100% by Clancy

Work in progress

• Structural model for Mertilga and Phoenix

• Ongoing assessment of 2012 drill results

• Ongoing assessment of alluvial gold potential

Work planned

• Follow-up drilling at Meritilga

• Entend auger soil sampling to northern K anomalies

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Trundle EL4512 & EL7187 – 100% owned TRUNDLE EL4512 & EL7187

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Cu, Au and Magnetite mineralisation

• 100% owned by Clancy (with 2.5% NSR to vendors)

• Porphyry and skarn-style copper-gold mineralisation

• Extensive skarn horizons defined with gold, copper and magnetite

• Strong similarities to Big Cadia skarn, which is peripheral to Cadia

Trundle acqusition

• Poorly explored below 50m with only 2.8% of previous drill holes deeper than 50m

• Trundle is one of Clancy’s highly ranked targets

• Potential for deeper porphyry due to limited exploration at depth

• Acquired 70% of Trundle in May 2009 from Western Plains Resources (acquiring Calibre Mining’s farm-in rights)

• High-grade epithermal gold veins and native copper

• Moved to 100% ownership in August 2009

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Trundle Porphyry Potential

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Trundle Bouguer Gravity
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Gravity lows  intrusive complex:

• Prominent gravity low at Northparkes

• Gravity lows also present at Trundle

• Note different scales though

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Quartz-calcite-molybdenite vein in monzonite TD002, 420m

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Northparkes Bouguer Gravity
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Trundle Park skarn-porphyry Au-Cu prospect TRUNDLE PARK Clancy RC drilling

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28m @ 0.3g/t Au, 1930’s copper-gold
0.15% Cu, from 24m workings
2m @ 20g/t Au,
6.97% Cu, 81g/t Ag
52m @ 0.45g/t Au
from 64m
from 32m
58m @ 0.44g/t Au,
0.17% Cu, from 22m
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Previous drilling

• Only 2.8% of holes are >50m deep - Average hole depth in Trundle Park area is 20m

• The majority of these are shallow RAB

• Most holes only assayed for Au and Cu

• Excellent potential at depth

Clancy RC drilling

• Skarn and vein-hosted mineralisation was intersected

• Broad widths (30-50m) of skarn ~0.3g/t Au, 0.15% Cu

• Epithermal vein-hosted high-grade gold and copper – 20g/t Au, 6.97% Cu

• Also broad intersection of epithermal style gold; e.g. TPRC009

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Mordialloc porphyry Cu-Au prospect

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• Porphyry copper-gold-molybdenum sheeted vein system at on the margins of a coarse–grained monzonite porphyry stock CTD005: 54m @ 0.12% Cu, 0.11g/t Au, 10 ppm Mo from 150m • Multiple intrusive phases • Disseminated sulfides in vein system are chargeable • Phyllic overprint of alkalic assemblages Anomalous • Unroofed system Zone CTD004: 58m @ 0.18% Cu, 0.14g/t Au, 6 ppm Mo from 2m and 50m @ 0.11% Cu, 0.11g/t Au, 11 ppm Mo from 64m CTD006: Syenite dykes at 279m in HQ core; potassic alteration CTD006: 46m @ 0.14% Cu, 0.12g/t Au, 40 ppm Mo from 478m CTD006: Quartz-magnetitechalcopyrite vein at 509m in monzonite porphyry

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Orange East EL6181 – 100% owned

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• Intrusion-related Cu-Ag-Au

• Orogenic Au targets

• Zn-Cu-Pb-As-Au soil anomaly untested

• Godolphin Fault main control on mineralisation

• Methods: Soils & rock chips, Ground magnetics, IP, RC & DD drilling

• Strong alteration, veining and sulfides…low baseprecious metal content

• Future: TEM for massive sulfides, drill untested areas

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Orange East magnetics & surface anomalism

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Undrilled
No deep drilling
TEM needed
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Orange East 3D IP and resistivity results

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Chargeability and resistivity 3D inversion models (looking east)

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Sulphide bodies
Carangera
Chargeability (>23mV/V)
Carangera South
Previous drilling missed?
Resistivity (>2300 ohm/m)
Scalloping in resistivity
surface  alteration?
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Orange East diamond drilling results

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• Follow-up diamond drilling of IP and geochemical anomalies completed

• Strong alteration and sulphide mineralisation intersected, but only narrow, low-grade gold and copper results

• Carangera – intrusion related:

• Massive biotite with pyrrhotite-chalcopyrite veins

• OED018: 0.5m @ 1.24% Cu from 96m and 0.5m @ 1.74% Cu from 121m

• OED013: 1m @ 1.25% Cu 0.11g/t Au from 52m

• Carangera South – fault related:

• Quartz stockwork overprinted by sulphides

• Extensive silica-albite alteration

• OED011: 1m @ 0.67g/t Au from 98m and 1m @ 1.13 g/t Au from 113m

• Pendarves – fault related:

• Stockwork quartz-carbonate veins with fuchsite-sulfide ±gold

• OED016: 1m @ 1.11 g/t Au from 1m, 1m @ 0.84 g/t Au from 29m and 1m @ 0.55% Cu from 118m

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OED018
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OED011
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OED016
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www.clancyexploration.com

Orange East Byng area conceptual model

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Orange East Byng area conceptual model
Mag high Mag low
K-low K-high
Ch low Ch high
R low R high
Mag low
W K-low 8 oz/t Au Au-Bi-Te-Zn +- Mo E
Cu-Ag-Au
Sericite alteration
Biotite alteration -
Carangera
Macquarie Arc –
Ordovician
Bi-Si-S-
Godolphin Fault
Carb
Anson Formation -
Silurian
Potassic
intrusive
0 200
m
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Na-intrusive
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Fairholme solid geology (pre-Tertiary)

Fairholme – 100% owned

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No Ordovician outcrop, variable cover, generally flat terrain over the arc units

• Quaternary and Tertiary cover (clay and sand) 3m to 128m deep

• Average depth of cover based on previous aircore drilling:

• EL6915 – 47m

• EL6552 – 21m

• Approximately 50m of Ordovician saprolite beneath cover

• Ordovician basement consists of:

• basaltic to andesitic volcanic, volcaniclastic and sedimentary rocks

• High-K calc-alkaline to shoshonitic intrusive rocks – monzodiorite to granodiorite composition

• Igneous rocks are chemically similar to the well mineralized Northparkes complex

• Some Fairholme intrusives have shoshonitic composition

• Shoshonitic magmatism is associated with economic Cu-Au mineralisation at Cadia and Northparkes

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Fairholme previous work

Fairholme RTP magnetics (1VD)

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Former Newcrest property, active from 1994 to 2002.

• Substantial drilling database – Newcrest:

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Anomaly 2 – 9m @ 1.06g/t Au
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• 662 aircore holes (54,878m)

• 30 RC holes (4,810m)

• 17 DD holes (6,575m)

• Most aircore drilling is regional in nature – up to 1km spacing in EL6915

• Many aircore anomalies remain to be followed-up

• DD and RC drilling confined to Boundary, Gateway and Dungarvan prospects in EL6552

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Boundary – 48m @ 0.60g/t Au, 0.16% Cu
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Gateway – 124m @ 0.36g/t Au, 0.1% Cu
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Dungarvan – 160m @ 0.1% Cu
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Fairholme mineral textures

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• Boundary, DR039 at 249m, Chalcopyrite after feldspar in andesite;

• DR039 at 390m, Disseminated chalcopyrite-bornite in latite.

• Dungarvan, DR046 at 492m, Chalcopyrite-bornite and epidote-magnetite veining;

• DR046 at 586m, Quartz-carbonate-tourmalinechalcopyrite veining.

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Fairholme footprint

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Comparison of Fairholme footprint with other porphyry systems

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Clancy Summary

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Clancy is an active explorer with outstanding prospects

• High quality exploration assets with a commanding position in a world class mineral province – Lachlan Fold Belt NSW

• Focussed exploration strategy, robust targets and risk managed exploration

• Excellent early-stage drilling results to follow up at:

• Condobolin: newly identified Meritilga prospect 4m @ 20g/t Au & 30.2g/t Ag; incl 1m @ 62g/t Au & 60g/t Ag

• Trundle: 2m @ 20g/t Au, 6.97% Cu

• Project identification and assessment capability through M&A

• Takeover bid for Genesis Resources Ltd launched 2 April 2012

• Plavica gold-silver-copper deposit in Macedonia

• Experienced board and management with supportive shareholders who are committed to growing the business through discovery and M&A

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Clancy and Gold Fields JV Projects in NSW

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Moonagee

Wellington North JV

CLY: 100%

CLY: 18%, Gold Fields: 82% Covers 30km of strike of the Molong Volcanic Belt. RC and DD drilling planned.

It was previously under option to Gold Fields, who did not complete any work on the project. Farm-in partner being sought.

Genaren

Myall JV

CLY: 100% Aeromagnetic survey completed. It was previously under option to Gold Fields.

CLY: 49%, Gold Fields: 51%, earning 80% Regional 40,000m aircore drilling program underway.

Cundumbul

Moorefield JV

CLY: 100% Highly prospective but underexplored. Soil survey and mapping in progress..

CLY: 20%, Gold Fields: 80% RC drilling identified narrow low-grade Au-As intercepts. Further work planned.

Trundle

Fairholme

CLY: 100%

CLY: 100% Highly prospective but underexplored tenement. Farm-in partner being sought.

Porphyry and epithermal Au-Cu intercepts to be followed-up.

East Parkes

Gobondery

CLY: 100% Recently granted, work to commence soon.

CLY: 100%

It was previously a JV with Gold Fields. RC drilling recently completed.

Jemalong JV

CLY: 20%, Gold Fields: 80% Aircore drilling planned in 2012.

Orange East

CLY: 100%

Diamond drilling completed October 2010. Soil sampling in progress.

Cowal East JV

CLY: 18%, Gold Fields: 82% Eurowie prospect – IP anomaly within phyllic alteration zone. Diamond drilling required.

Parkes JV

CLY: 20%, Gold Fields: 80% Covers 474km[2] of the Northparkes Igneous Complex. Low-grade Au intercepts defined.

Currumburrama

CLY: 100% Aeromagnetic survey completed. It was previously under option to Gold Fields.

Billabong Creek

CLY: 100%

Aeromagnetic survey completed and soil sampling planned.

Diggers & Dealers August 2012

Contact details

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Contact details

Phone: +61 2 6361 1285 Fax: +61 2 6361 1202 Email: info@clancyexploration.com www.clancyexploration.com Orange NSW head office 3 Corporation Place Orange NSW 2800 PO Box 7040 Orange NSW 2800

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