REDSTONE RESOURCES LIMITED — AGM Information 2008

Nov 26, 2008

Annual General Meeting Annual General Meeting 27th November, 2008 November, 2008

WEST MUSGRAVES PROJECTWEST MUSGRAVES PROJECT

World Class Giant Ni-Cu-PGE Dep osits and I OCG Dep osits

• • Giles M Giles Mafic -Ultramafic Complex
• •Triple Point Junct ion
• •Coherent and Larg e Ground Position
• • La ck of Prior Explora tion
• •Excellent Relations with the Indige nous Owners

REDSTONE TENEMENT HOLDING (6740km 2)

WORK PROGRAM COMPLETED IN 2008

• •Access and Clearances over 1700km2
• •Mapping at Halleys, DML and Antlion prospects
• • Detailed ground magnetics at Stripeys and El Cortez (400 line km) and helisupported gravity completed for the Baggaley Project
• • 9000 geochemical sampling collected;
  • •4340 lag samples,
  • •4226 soil Niton samples (Stripeys),
  • • 116 XRF rock samples, 247 rock chip samples and 23 petrological samples.
• • 11,700m RAB drilling including:
  • •118 holes Halleys NW and extended NW
  • •57 holes Halleys Cu-PGE-Ni
  • • 189 holes DML JV EM/Geochemical targets (including Apollo, Artimus, Dragonfly, El Cortez, Dejavu)
  • •13 holes Mt Muir Project
• •500 drill holes rehabilitated

REDSTONE ACCESS AND CLEARANCESREDSTONE ACCESS AND CLEARANCES

2008 GECHEMICAL COVERAGE2008 GECHEMICAL COVERAGE

RESULTS RESULTS –PRINCIPAL TARGETS PRINCIPAL

SATURN LAYERED INTRUSION Ni SATURN LAYERED INTRUSION Ni-Cu -PGE CORRIDOR

Saturn Intrusion similar size and type to McIntosh/ Panton Sill (Sally Mallay)

Numerous strong PGE and Ni-Cu-PGE anomalies over 10km strike on SW contact (largely under cover)

A large gossan at Halleys was drilled producing excellent results in shallow RAB RC drill holes

Halleys NW PGE anomaly produced 0.5g/t PGE in regional shallow RAB

HALLEYS RAB DRILL RESULTS HALLEYS RAB DRILL RESULTS –PIPE-LIKE CuLIKE Cu-Ni-PGE BODY WITH PGE BODY WITH

Cu-PGE-Ni rich zoneNi rich zoneCu-PGE rich zoneRAB Drill Hole

RAB Drilling has highlighted a pipe geometry to the mineralized body with a diameter of approximately 300m with best grades on margin

HALLEYS RAB DRILL RESULTS HALLEYS RAB DRILL RESULTS - SECTIONSECTION

Large thickness of disseminated Cu-Ni-PGE mineralization

• 74m @ 0.33% Cu, 0.08% Ni and 0.24g/t PGE (BSC003) open at depth
• 26m @ 0.44% Cu, 0.08% Ni and 0.39g/t PGE + Au (BSB512)
• 16m @ 0.50% Cu, 0.11% Ni and 0.53g/t PGE + Au (BSB524)
• 19m @ 0.44% Cu, 0.19% Ni and 0.15g/t PGE + Au (BSB536)

HALLEYS NW PGE REEFHALLEYS NW PGE REEF

2007 Drill program 2008 Drill program

PGE REEF

DRILLING

Pt + Pd + Au

STRIPEYS ULTRAMAFIC LAYERED INTRUSION

Layered ultramafic intrusion >3.35km thick highly prospective for Ni-Cu-PGE deposits along the basal contact

The intrusion is upward flaring conduit with 10km basal contact. Ni mineralisation, with a peak value of 0.89% Ni near the base collected by SWM in the 1960's. Roadside rock chip gave 0.21g/t PGE + Au

PGE trends similar to Merensky Reef and highlight the intrusion as extremely fertile

Exploration commenced July 2008

STRIPEYS ULTRAMAFIC LAYERED INTRUSION

XRF sample

Geochemical

Ni > 1000 ppm

Cu > 100 ppm

Ultramafic contact

Granite contact

DML JV EM TARGETSDML JV TARGETS

Figure: DML EM targets, larger red dots are associated with multi-element geochem

EL Cortez RAB drill resultsCortez RAB drill results

Isolated EM conductor defined by Falconbridge

Peak DLag values of 718ppm Ni and 651ppm Cu with 31ppb PGE 1.6km south

Peak RAB values of 0.55% Ni, 0.23% Co, 0.37g/t PGE+Au and 0.05% Cu

RAB drilling at El Cortez peak intercepts:

• •4m @ 0.32% Ni and 0.3g/t PGE + Au
• •7m @ 0.43% Ni and 0.05% Co

This anomaly indicated Ni-Cu-PGE sulphide may be present with supergene weathering

BAGGALEY HILLS IOCG and Ni BAGGALEY HILLS IOCG and Ni-Cu -PGE PROJECT (1668 km 2)

ANTLION INTRUSION MODEL ANTLION COMPARISON WITH KEIVITSA COMPARISON WITH KEIVITSA FINLAND

To 300m (open pit) measured and indicated 70MT @ 0.31% Ni, 0.43% Cu and 0.71g/t PGE + Au

ANTLION INTRUSION ANTLION –Ni-CU-PGE TARGETS PGE TARGETS

TOLLU MINING CENTRE CU GEOCHEMISTRY AND STRUCTURAL SETTING

Tollu Mining Centre

2 kmTollu Cu Soil anomaly alo ng majo rstructure on A-Type gra nitecontactN

TOLLU MINING CENTRE TOLLU MINING CENTRE - CU ROCK CHIP RESULTS, CU ROCK CHIP RESULTS, RAB DRILLING AND EM ANOMALYRAB DRILLING EM ANOMALY

• • Improved understanding of Halleys, higher grade PGEs, pipe geometry better defined and concentric zoning, more accurate targeting and reduced risk
• •Identified drill ready targets at El Cortez (Ni, PGE, Cu, Co)
• • Added value to the Baggaley Project through access, clearances and gravity – provide access to 7 excellent IOCG targets
• • First pass work extremely encouraging at Antlion with highest surface PGE results in district and large high-order Cu-PGE anomaly
• • Enhanced Tollu through sectional plotting and EM interpretation defining diamond drill targets
• • Overall enhanced the Prospectivity of the entire Musgrave region and Redstone ground position, attracting the interest of major companies.

WORK REQUIRED WORK REQUIRED

• Demonstrated that there is potential to make a major World Class discovery on a number of our projects through ongoing exploration. The work required includes:
• • RC/Diamond drilling Halleys Ni-Cu-PGE, Tollu Cu, Antlion, El Cortez, Stripeys and Baggaley IOCG targets
• •Access and clearances (helicopter supported) over remaining projects
• • Geochemical sampling and mapping at Baggaley Project, Southern Tollu and emerging projects
• •Airborne EM over Stripeys, Antlion and emerging targets
• •Deep penetrating ground EM over Halleys, El Cortez and other principal targets
• •Ground gravity over numerous IOCG targets on Baggaley Hills Project
• •Extended ground magnetics or detailed aeromagnetics over DML and El Cortez
• •RAB drill Ni Laterite targets, Tollu extensions and numerous emerging targets

Redstone Projects Brazil Redstone Projects Brazil

Hardrock Phosphate (source Florida Dept EPA)

Potash KCl.NaCl (source Potash One Inc)

PROJECT PORTFOLIO PROJECT PORTFOLIO BRAZIL

FERTILIZER MARKETSFERTILIZER MARKETS

• • Brazil is the second largest importer of K in the world – 5.8 Mt Potassium /year growing at 11%
• • Brazil imports U$1.1B/ year of phosphate materials which has increased 112% from 2006 to 2007
• • Fertilizer Minerals have remained relatively unaffected by the recent global financial crisis

APUÍ PHOSPHORITE PHOSPHORITE PROJECT PROJECT

• • 18 tenements covering 1770 km2 of the entire Jatuarana Sedimentary Basin.
• • The Jatuarana Basin was discovered in 1980 and has never been studied again
• • The lower sequence of rocks in the Basin contains significant phosphorite and glauconite in Cambrian-Ordovician sediments in flat dipping stratigraphy
• • Random surface samples collected in 1980 returned values of up to 9.3% P2O5
• • The Jatuarana Basin is only 30 km to the west of the main agricultural centre in the Amazon State: Apuí
• • The Project is transected by the Trans-Amazon Hwy

APUI PHOSPHATE ROCK CHIP RESULTSAPUI PHOSPHATE ROCK CHIP RESULTS

UPPER PART OF PHOSPHATE UNITUPPER PART OF PHOSPHATE UNIT

Weathered occurrence of phosp hate –gla uconite horizon

ANEBÁ POTASSIUM POTASSIUMPROJECT PROJECT

• 33 tenements covering 3060 km2 over diapiric structures in the Anebá Sub Basin (27 granted)

• 60km from two major K deposits totaling 1.146Bt @ 22.7 KCl (not developed due to location in Amazon River flood plain and depths of 950m to 1050m)

• 60km from the two largest cities and ports of Amazon State (Manaus and Itaquatiara) with access by paved roads rivers, and secondary roads

PROJECT LOCATION

POTASSIUM IN THE AMAZON BASINPOTASSIUM IN THE AMAZON BASIN

Redstone Potassium Project is located in the Anebá Sub-basin adjacent to the largest Potassium deposits in South America at depths of 950- 1050m :

• •FAZENDINHA: 520Mt @ 28.8% KCl (61B $US)
• •ARARI: 626Mt @ 17.7% KCl (44B $US)

These are difficult deposits to exploit due to their depth and location in the Amazon River flood plain.

Redstone's Project is targeting the Aneba Sub-Basin:

• 1. The same stratigraphy that hosts the deposits in a shallower position and the shallower evaporites of the Andira Formation
• 1. A probable graben structure with thick accumulations of salt, defined by previous drilling on the flanks, magnetics, gravity and seiemic.
• 1. Diapiric structures within this corridor

ANEBA SUB BASIN GRAVITYANEBA SUB BASIN GRAVITY

EXAMPLE OF DOME STRUCTURE, LINE 0070 EXAMPLE OF DOME STRUCTURE, LINE 0070 -0026

velocity

Estimated uplift is 250-300 metres

Redstone is committed to high-quality exploration both here in Australia and South America

Our focus has been, and will be, to make a World Class discovery

The risk has been mitigated to a degree by diversification into several commodities

We are trying to reduce the financial risk by actively seeking quality partners to ensure these excellent projects receive the level of funding they require to advance to discovery