STRIKE RESOURCES LIMITED — AGM Information 2011

Nov 23, 2011

Annual General Meeting Perth 24 November, 2011

2011 Annual General Meeting Meeting Overview

Chairman:	Malcolm Richmond
Managing Director:	Ken Hellsten
Directors:	William Johnson
	Matthew Hammond
Company Secretary:	Stephen Gethin
Notice of AGM:	23 October 2011
Proxies Received:	88 -representing 78,121,818 voting shares

2011 Annual General Meeting Agenda

• Chairman's Overview
• Managing Director's Presentation
• Questions for the Managing Director
• Financial and Directors' Reports
• Questions for the Auditor
• Resolutions 1 3

Chairman's Overview

2011 Annual General Meeting Chairman's Overview

Key Achievements during 2010/11 ü Board restructure Ø 7 directors reduced to 4 Ø Appointment of additional independent NEDs commenced ü Move to 50% of Apurimac Ferrum (AF) ü Established strong AF executive team ü Cuervo transaction completed

Managing Director's Presentation

2011 Annual General Meeting Peru Iron Ore Projects – AF Highlights

• Move to 50% direct interest in concession owner (AF)
• JORC resources of 374Mt including 269Mt @ 57.3% Fe*
• Strong working relationship established with JV partner
• Strong executive team established under Tom Kelly
• High-grade magnetite with positive initial PFS
• Substantial potential to increase resources – target of >500Mt at Apurimac+
• Exploration gaining momentum with positive results flowing

7

* All Resources are broken down into categories in slide 22.

+ The potential quantity of the target iron ore mineralisation is conceptual in nature. There has been insufficient exploration to define an additional Mineral Resource in relation to that target iron ore. It is uncertain whether further exploration will result in the determination of an additional Mineral Resource in relation to that target iron ore.

2011 Annual General Meeting Peru Iron Ore Projects – Opaban Resource Extension

• Current resource of 269Mt @ 57.3% Fe
• "Walk up" drilling targets at Opaban North, depth extensions to west and Opaban 3 extensions
• Timing dependent on community approvals
• Full EIS required due to scope of drilling planned
• Target remains 300 350Mt, potentially more*
• Explore and test satellite targets in the interim

* The potential quantity of the target iron ore mineralisation is conceptual in nature. There has been insufficient exploration to define an additional Mineral Resource in relation to that target iron ore. It is uncertain whether further exploration will result in the determination of an additional Mineral Resource in relation to that target iron ore.

2011 Annual General Meeting Peru Iron Ore Projects – AF Priority Exploration Targets

2011 Annual General Meeting Peru – Business Development Opportunities

2011 Annual General Meeting Cuervo Transaction – An Option On Additional Resources

• Orcopura:

• Resource of 106.4Mt @ 45.3%Fe
• Open along strike and at depth

• Huillque:

• 21 DDH, best result of 79m @ 62%Fe (63m)
• Open to north and at depth

• Aurora:

• 25 DDH; best result of 78m @ 51%Fe (9m)
• Open along strike and at depth

• Bob 1:

• Up to 10km strike potential
• Strong magnetic and gravity highs
• Extensive massive magnetite outcrops
• Drilling expected from early 2012

2011 Annual General Meeting Peru Iron Ore Projects – Approvals Progress

2010 Status

• Presidential and regional elections underway and communities not engaged
• Access approvals for only 1 community
• Dialogue with 3 communities
• Many "no go" communities
• AF mistrusted or unknown
• Little or no relationship with district or regional authorities

2011 Status

• Pictures here. • Elections completed, macro settings similar though evidence of growing unrest
• Access approvals for 5 communities for 2 years
• Dialogue with 20 communities
• 3 4 "no go" communities
• Pictures here. • AF recognized as a "good and trustworthy mining company"
• Leader in regional working group and requested to participate in regional programs

2011 Annual General Meeting Peru – Political Climate And Risk

• ü Presidential and Regional elections completed
• × Left to Centre Left Humala wins Presidency
• ü Re-appoints Central Bank Governor and establishes balanced cabinet with moderates in key economic portfolios and as Prime Minister
• × Implements mining tax as expected
• First 100 days largely "steady as she goes"
• × Increased activist unrest over past 2 months
• × Protests at Yanacocha, Congas, Antamina, Andahuaylas
• × Radical elements demanding "no mining" but no broad support
• ? Government sending right messages but uncertainty has increased

2011 Annual General Meeting Impact of New Mining Tax on Overall Tax Burden – Modeled

1/ This assumes that 70% of the profits will be shared as dividends. 2/ Tax calculation includes income tax, employee profit sharing, royalties, IEM and taxes on dividends

Source: Laws, APOYO Consultoria

30 35 40 45 10% 20% 30% 40% 50% 60% 70% 80% 90% Current scheme New scheme (GEM) Operating margin (operating earnings/sales) COMPANY WITH A TAX STABILITY CONTRACT : BURDEN ACCORDING TO A MODEL MINING COMPANY'S PROFITABILITY 1/ 2/ (% of profit before taxes and contributions)

1/ This assumes that 70% of the profits will be shared as dividends. 2/ Tax calculation includes income tax, employee profits sharing GEM and taxes on dividends.

Source: Laws, APOYO Consultoria

2011 Annual General Meeting Iron Ore Outlook CRU Iron Ore Outlook, 2011

• ü Demand outlook remains strong, mainly driven by China and to a lesser extent India
• ü Cost curve has materially changed and marginal cost of production is now US$110 – 140/dtmu
• ü While large production increases are forecast these are likely to be slower than predicted
• ü Low operating costs will be key value driver rather than timing

2011 Annual General Meeting Looking Back

• Corporate

• Board restructure undertaken and moving towards majority of independent directors
• Share price performance very poor
• Cash position remains strong (A$26M at end of October)

• Peru

• Strong AF team in place, 44% to 50% in AF and completed Cuervo deal
• Material progress on community and government relations but approvals (frustratingly) slow
• Exploration results flowing and resource growth potential confirmed
• Escalation in social unrest and lack of firm stance by Humala government of concern

• Berau

• Partner dispute remains despite extensive efforts to resolve

2011 Annual General Meeting Moving Forward

• Corporate

• Recruitment of independent directors well advanced
• Gain recognition of project value and potential by market
• Retain prudent approach to cash management
• Peru
  • Move to majority position in AF if possible or next US$27M funded by partner(s)
  • Monitor political and social status closely and respond accordingly
  • If positive then gain approvals & undertake exploration and resource extension drilling
  • Pursue value adding business development opportunities
• Berau
  • Secure best possible terms for exit.

2011 Annual General Meeting Formal Business

• Consider Financial Statements and Directors' and Auditor's Reports

• Resolutions

• 1 Re-Elect Matthew Hammond as a Director
• 2 Approve Issue of Options to Kenneth Hellsten
• 3 Adopt Remuneration Report

2011 Annual General Meeting Resolution 1

Re-Election of Matthew Hammond
ProxySummary	For	Against	Abstain	Open	TotalsPictures here.
All ProxiesReceived	74,267,031	150,385	105,846	3,598,556	78,121,818
Chairman'sProxiesReceived	57,576,229	150,385	105,846	-	57,832,460

2011 Annual General Meeting Resolution 2

Issue of Options to Kenneth Hellsten
ProxySummary	For	Against	Abstain	Open	TotalsPictures here.
All ProxiesReceived	70,739,130	3,714,786	72,346	3,595,556*	78,121,818
Chairman'sProxiesReceived	54,048,328	3,711,786	72,346	-	57,832,460

* Of these, 3,573,889 shares are subject to a voting exclusion on this Resolution and therefore may not be voted on it.

2011 Annual General Meeting Resolution 3

Adopt Remuneration Report

ProxySummary	For	Against	Abstain	Open	TotalsPictures here.
All ProxiesReceived	74,050,423	397,683	78,156	3,595,556*	78,121,818
Chairman'sProxiesReceived	57,359,621	394,683	78,156	-	57,832,460

* Of these, 3,573,889 shares are subject to a voting exclusion on this Resolution and therefore may not be voted on it.

2011 Annual General Meeting

Forward-looking Information

Pictures here. This presentation contains certain forecasts and forward-looking information, including regarding possible or assumed future performance, costs, production levels or rates, prices, reserves and resources or potential growth of Strike Resources, industry growth or other trend projections.

Such forecasts and information are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors, many of which are beyond the control of Strike Resources.

Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

Strike Resources Limited ASX: SRK www.strikeresources.com.au Thank you

2011 Annual General Meeting JORC Code Information

The Resource of 374Mt (including 269Mt @ 57.3% Fe) referred to in slide 7 is comprised of a 104.4Mt Inferred Resource at 32.6% Fe at Cusco, plus the Resource at Apurimac referred to below.

Pictures here. The Resource of 269Mt @ 57.3% Fe referred to in slide 8 at the Apurimac Project is comprised of a 142.2 Mt Indicated Resource at 57.84% Fe and a 127.2 Mt Inferred Resource at 56.7%Fe.

The Resource of 106.4Mt @ 45.3%Fe held by Cuervo Resources Inc., referred to in slide 11, is comprised of a Measured Resource of 19.7Mt at 48.3% Fe, an Indicated Resource of 35.9Mt at 45.9% Fe and an Inferred Resource of 50.8 Mt at 43.7% Fe.

JORC Code Competent Person Statement

Pictures here. The information in this document which relates to Mineral Resources at the Apurimac, Cusco and Cerro Ccopane (Cuervo) Projects and to exploration results has been reviewed and confirmed by Mr Ian Cullen, B.Sc. (Geology), who is an employee of Strike Resources Ltd and is a member of the Australasian Institute of Mining and Metallurgy. Mr Cullen 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 Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code)." Mr Cullen consents to the inclusion in this document of the matters based on this information in the form and context in which it appears.