STRIKE RESOURCES LIMITED — AGM Information 2012

Nov 21, 2012

Strike Resources Limited 2012 Annual General Meeting ASX CODE: SRK

Disclaimer

This material 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.

Meeting overview

Chairman:	Malcolm Richmond
Managing Director:	Ken Hellsten
Directors:	William Johnson
	Matthew Hammond
	Samantha Tough
Company Secretary:	Stephen Gethin
Chief Financial Officer:	Julian Tambyrajah
Notice of AGM:	22 October 2012
Proxies Received::	63 - representing 43,609,120 shares

Agenda

Chairman's Address

Managing Director's Presentation

Questions for the Managing Director

Financial and Directors' Reports

Questions for the Auditor

Resolutions 1 – 5

Close

Chairman's Address

Managing Director's Presentation

Performance of Strike Resources relative to peers

Notes Rebased to Strike's share price as at 22/11/11

Strong foundations established

2011/12 Objectives Outcomes

PARTNERS #3 Strengthen partner relations in Peru

#4 Re-establish positive relations with communities

CORPORATE #1 Strengthen board and increase independent directors

and authorities to enable timely approvals for exploration and beyond

BUSINESS #5 Establish sound business approach at AF by moving to stronger equity position and commercial funding arrangements or exit

#6 Consolidate Strike/AF position as major iron ore group in Apurimac and Cusco regions

#7 Position for strategic investor entry into projects

• Board restructure completed with appointment of additional independent director
• "Lean and keen" technical and commercial team established in Lima
• Achieved strong working relations with D&C in Peru. Efforts continue in Indonesia
• Established strong CR team with clear goals and mandate. Template community programs established and acknowledged
• Buy-out of minority partner and consolidation triggered through "Shoot-out" process
• Cuervo deal completed and delivering results
• Rothschild appointed.

2 Establish strong operating team in Peru (AF)

High quality Apurimac and Cusco Iron Ore

9

• Apurimac Iron Ore

• 590 km² of concessions
• 269 Mt @ 57.3% Fe at Opaban
• High-grade, coarse-grained, excellent metallurgy

• 500 Mt needed to support 15 20 Mtpa

• Cusco Iron Ore

• AF concessions and Cuervo partnership
• Almost 400km² of AF and Cuervo concessions
• AF: 104 Mt @ 33% Fe* and a 23 26 Mt potential iron ore mineralisation at 32 – 34% Fe** with <50% of target area tested
• Cuervo: 178 Mt @ 48% Fe + Bob 1 targets*
• Similar ore style to Apurimac but lower grade and mass recovery and higher sulphur

• 800 Mt needed to support 20 25 Mtpa

* See the Appendix to this presentation for a breakdown of the total mineral resource into JORC categories per project and the JORC Code competent person statement. **The potential quantity and grade of the target iron ore 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.

Excellent iron and Copper / gold potential

• Apurimac Iron Ore

• 590 km² of concessions
• Sillaccassa: two magnetic targets with ironstone
• Opaban North: 1 km magnetic target + ironstone
• Colcabamba: drilled Fe + magnetic anomalies
• Numerous magnetic and imagery targets

• Cusco Iron Ore and Cu/Au

• <50% target area tested at Cusco
• Cuervo Bob1, Parco and Huillque Norte targets
• World class copper / gold province
• 16 m @ 1% Cu from 28 m and current gold mining but no testing to date
• IP targets identified

Cuervo – Bob 1 drilling results

2 km of strike tested with results for central 800m

• 100 – 200 m thick magnetite intersected on all sections
• North-south orientation with moderate dips 45 – 60º to west
• Open to north and Parco repetition highly prospective

Drill Intercepts

Hole 1:	133 m @ 49.6% Fe
Hole 2:	182 m @ 39.6% Fe
Hole 8:	185 m @ 47.5% Fe
Hole 10:	117 m @ 57.4% Fe
Hole 3:	156 m @ 40.9% Fe
Hole 5:	144 m @ 38.3% Fe
Hole 11:	87 m @ 33.8% Fe

• Coarse-grained magnetite
• Elevated sulphur (2 – 3%)
• Similar style to Orcopura

Community approvals – challenging, but improving

• Patience and trust building required, especially following previous AF "disappearance"
• Andean community mistrust of outsiders and government authorities feel abandoned
• Southern Peru especially challenging due to Andahuaylas' history as an activist centre
• Expectations raised with Mr Humala's election but indications of increased disillusionment and radicalism
• Access agreements established but not at Huinchos / Opaban as yet

However:

• Doors open in cycles Huinchos mid 2011 and again now with community accepting mining
• "Pilot" programs successful along with innovative Camposol visits and expertise
• Delivery of previous commitments well received and open dialogue underway with all campesinos

* Strike funding of AF (>\$30 M) recapitalised in Sept 2012 for additional 12% – 19% of AF

Shoot-out – current status and way forward

D&C has defaulted

• Counter offer of US\$27 M plus loan repayment not honoured
• Purchase of SRK AF shares for US\$100 plus repayment of loans not honoured

Strike Response

• Default provision triggered and partners' shares purchased for US\$50 with loans (~US\$3.2M) to be repaid within 3 years
• Shares not transferred hence dispute notice delivered

Next Steps

• 15 working day "good faith negotiations" period till 13 December
• Commercial settlement or arbitration process triggered

Legal Position

• Independent advice supports SRK position

Beyond the Shoot-out – the way forward

AF Projects are capital intensive and require significant patience

SRK can fund in short term, but strong funding partner needed

Resolve AF ownership – move to 100% ownership

Commercial settlement or arbitrated resolution

Progress CR and approvals at Opaban

Recommence exploration including drilling

Monitor opportunities to further consolidate

Rothschild managed international partner search

Close out Berau settlement

Consider Financial Statements and Directors' and Auditor's Reports

Resolutions:

• Elect Samantha Tough as a Director
• Re-Elect William Johnson as a Director
• Approve Employee Long-Term Incentive Plan
• Ratify Issue of Options to CFO
• Adopt Remuneration Report

Resolution 1 – Elect Samantha Tough as a Director

Proxy Summary	For	Against	Abstain	Open	Totals
All Proxies	42,654,904	55,051	261,435	637,730	Pictures here. 43,609,120
Chairman's Proxies	22,387,213	55,051	261,435	602,730	23,306,429

Resolution 2 – Re-elect William Johnson as a Director

Proxy Summary	For	Against	Abstain	Open	Totals
All Proxies	41,999,510	918,880	50,000	640,730	Pictures here. 43,609,120
Chairman's Proxies	21,734,819	918,880	50,000	602,730	23,306,429

Resolution 3 – Approve Employee Long-Term Incentive Scheme

Proxy Summary	For	Against	Abstain	Open	Totals
All Proxies	26,007,927	231,021	41,640	17,328,532	Pictures here. 43,609,120
Chairman's Proxies	22,434,038	228,021	41,640	602,730	23,306,429

Resolution 4 – Ratify Issue of Options to CFO

Proxy Summary	For	Against	Abstain	Open	Totals
All Proxies	25,779,741	459,207	41,640	17,328,532	Pictures here. 43,609,120
Chairman's Proxies	22,205,852	456,207	41,640	602,730	23,306,429

Resolution 5 – Adopt Remuneration Report

Proxy Summary	For	Against	Abstain	Open	Totals
All Proxies	25,787,309	463,769	29,510	17,328,532	Pictures here. 43,609,120
Chairman's Proxies	22,213,420	460,769	29,510	602,730	23,306,429

Appendix – JORC Code Information

Resource Breakdown

AF Projects

Project	Classification	Tonnes (Mt)	Head Fe (%)
Apurimac	Inferred	127.2	56.7
	Indicated	142	58
Cusco	Inferred	104.4	32.6

The 68Mt DSO component of the Apurimac resource is comprised of a 27 Mt inferred resource at 61.35% Fe and 41 Mt indicated resource at 61.57% Fe and is included within the above figures.

Cerro Ccopane Project (Cuervo Resources, Inc)

Prospect	Classification	Tonnes (Mt)	Head Fe (%)	Cut-off (% Fe)
	Measured	19.7	48.26	20
Orcopura	Indicated	35.9	45.91	20
	(Measured plus Indicated)	55.6	46.75	20
Orcopura	Inferred	51	43.7	20
or
Prospect	Classification	Tonnes (Mt)	Head Fe (%)	Cut-off (% Fe)
Orcopura	Inferred*	46	45.8	30
Huillque and Aurora	Inferred	72	52.6	30
Total	Inferred	118	50.4	30

Appendix – JORC Code Information

Resource Breakdown (cont'd)

Cerro Ccopane Project (Cuervo Resources, Inc)

The resource estimate for Cuervo's Orcopura prospect stands at 19.7 Mt at 48.3% Fe (measured resource), 35.9 Mt at 45.9% Fe (indicated resource) and 50.8 Mt at 43.7% (inferred resource). That estimate is a wire-framed computer model using a 20% Fe lower cut with grades determined using the inverse distance squared estimation method. The resource estimate for the Huillque and Aurora prospects uses a 30% Fe lower cut and the sectional polygonal resource estimation process. Accordingly, some care must be taken when quoting a global resource for the Cerro Ccopane project area.

JORC Code Competent Person Statement

The information in this document which relates to mineral resources and exploration results has been compiled by Mr Ken Hellsten, B.Sc. Hons (Geology), who is an employee of Strike Resources Ltd and is a fellow of the Australasian Institute of Mining and Metallurgy. Mr Hellsten 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 Mineral Resources and Ore Reserves (the JORC Code)." Mr Hellsten consents to the inclusion in this document of the matters based on this information in the form and context in which it appears.