SANDFIRE RESOURCES LIMITED — Investor Presentation 2012

Feb 16, 2012

Sandfire Resources NL ABN 55 105 154 185 Level 2, 31 Ventnor Ave, West Perth Western Australia 6005 Phone: +61 8 6430 3800 Fax: +61 8 6430 3849 Email: info@sandfire.com.au Web: www.sandfire.com.au

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ASX/Media Release 17 February 2012

DEGRUSSA PROJECT PICTORIAL UPDATE

Sandfire Resources NL is pleased to provide a pictorial update on the ongoing progress of construction, infrastructure development and mining at DeGrussa.

• Underground mine development is progressing on schedule with the “Evans Decline” currently advanced 1,100 metres from the portal, with approximately 200 metres of decline development remaining before the first ore is accessed.

• The first of the DeGrussa Direct Shipping Ore (DSO) was mined on 17 February 2012.

• Open pit mining is progressing on schedule with a total 5.5 million bank cubic metres (bcm) of material mined to date from the Stage 1 open pit, which is over 70 per cent complete. The open pit is currently at a depth of 55 metres below surface with over 1.25 million tonnes of copper oxide mineralisation at 1.05% Cu mined and stockpiled.

• Completion of major infrastructure is progressing well with workshop and warehouse facilities being handed over.

• The power station is currently being commissioned with an interim capacity of 4MW.

• Construction of the 1.5Mtpa DeGrussa concentrator has progressed with over half of the concrete now poured and large quantities of equipment arriving each day.

• The DeGrussa Aerodrome is almost complete with the first landing next week.

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Tailings storage facility
DSO stockpile
Process Plant
Open Pit
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ASX / Media Release

17 February 2012

First Direct Shipping Ore mined on 17 February 2012

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ASX / Media Release

17 February 2012

Direct Shipping Ore mined on 17 February 2012

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5.5 million bank cubic metres (bcm) of material mined to date Open pit 55 m below surface

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ASX / Media Release

17 February 2012

Evans decline advanced 1,100 metres

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ASX / Media Release

17 February 2012

Process plant equipment on site

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Apron Feeder
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Filter
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ASX / Media Release

17 February 2012

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Regrind Mill
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Arrival of third thickener
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ASX / Media Release

17 February 2012

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Ball mill head
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Sag mill shell
Regrind thickener centre column
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ASX / Media Release

17 February 2012

Process plant construction

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Crusher
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Crushed ore bin and roof
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ASX / Media Release

17 February 2012

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Regrind area footings
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Plant Area
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ASX / Media Release

17 February 2012

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Fuel storage commissioned
On site laboratory operational
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ASX / Media Release

17 February 2012

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DeGrussa airstrip nearing completion
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ASX / Media Release

17 February 2012

ENDS

For further information contact: Sandfire Resources NL Karl Simich – Managing Director/CEO Office: +61 8 6430 3800

Read Corporate Mobile: +61 419 929 046 (Nicholas Read) Mobile: +61 421 619 084 (Paul Armstrong)

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– - Figure 1 DeGrussa Copper Gold Project location

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Forward-Looking Statements

Certain statements made during or in connection with this statement contain or comprise certain forward-looking statements regarding Sandfire’s Mineral Resources and Reserves, exploration operations, project development operations, production rates, life of mine, projected cash flow, capital expenditure, operating costs and other economic performance and financial condition as well as general market outlook. Although Sandfire believes that the expectations reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements and no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in metals prices and exchange rates and business and operational risk management. Except for statutory liability which cannot be excluded, each of Sandfire, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this statement and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this statement or any error or omission. Sandfire undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly you should not place undue reliance on any forward looking statement.

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