STRIKE RESOURCES LIMITED — AGM Information 2013

Nov 27, 2013

2013 AGM

Managing Director's Presentation November 2013

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.

Full JORC competent person statements for this presentation are contained in Appendix 1, alongside relevant resource tables.

Strike Resources – creating value by developing a large scale high grade iron ore project in Peru

Iron ore project developer, focussed on the high grade (57% Fe) large scale (20 Mtpa) Apurimac magnetite project in Peru

Well funded - $13 million cash enough for 12 – 18 months of development and exploration activity

Acquired 100% control of flagship project, MD re-based to Peru

Near term objectives - define 500Mt of resources from existing deposits and exploration targets at Apurimac and demonstrate proof of concept for small scale near term mining

Key to meeting objective s will be successful securing of community and government approvals, with positive progress to date

Agenda

• Iron Ore Market
• Why Peru?
• Corporate History
• Projects

The iron ore market continues to show resilience as other commodity prices fall

Iron Ore Price Remains Firm

Iron Ore Price Consensus Forecasts ($US)

FY13	FY14	FY15	FY16	FY17
$132.73	$125.36	$118.42	$107.30	$94.50

Peru is an attractive destination for mining investment

The Peru Government has a strong commitment to encouraging international investment in the mining sector

Peru is geographically very well placed for exporting minerals to China and USA

• •Legal reforms carried out in early 2000s modelled on International best practice
• •Aim to provide stable environment to secure medium to long term investment
• •No discrimination between national and foreign investors
• •Irrevocable Mining Concessions
• •Free availability of foreign currency transfers, free transfer of capital
• •Arbitration system to resolve conflicts
• •Internationally competitive tax and royalty rates

Peru is a globally significant producer of commodities with significant new projects planned over the next 10 years

Peru is a globally significant producer of minerals

• •Peru is the largest producer of gold, zinc, tin and lead in Latin America
• •Third largest producer of copper, silver, zinc and tin worldwide
• •Over 400 mining licences now under exploration

Mining Investment continues to advance in Peru

• •US$54.6 billion in investment planned over next 10 years (20% of which is planned for the Apurimac region)
• •Mining investment in Peru reached an historical record in 2012 of more than US$8.5 billion - including US$US1.2 billion for expansion of Marcona iron ore mine by Shougang Hierro
• •In the last decade, Peruvian mining exports have increased in value eight times, and now account for over 65% of total exports

Mineral	Rank –LatinAmerica	Rank –Worldwide
Zinc	1	3
Tin	1	3
Lead	1	3
Gold	1	6
Silver	2	3
Copper	2	3

Source: Mining Yearbook 2012.MEM.

Peru has the strongest growth of all of the South American countries and a very healthy investment rating second only to Chile in the region

Investment grade Latin America benchmarking

Country	S&P	Fitch	Moody's
Chile	A+	A+	Aa3
Peru	BBB+	BBB+	Baa2
Mexico	BBB	BBB	Baa1
Brazil	BBB	BBB	Baa2
Columbia	BBB-	BBB-	Baa3
Bolivia	BB-	B+	Ba3
Venezuela	B+	B+	B2
Argentina	B	B	B3
Ecuador	B	B-	Caa2

Strike's share price history indicates tremendous upside potential, now it has 100% project ownership, community access and iron prices remain strong

Achievements during 2013

Consolidated ownership of Peru projects - SRK now 100%

Exited Indonesia coal project - $4,300,000 cash received

Perth based corporate overhead significantly reduced

MD relocated to Peru - where the action is!

Important community approvals secured

Cuervo resource inventory significantly expanded

Maintained strong cash balance

Strike's projects are focussed in the highly prospective Apurimac and Cusco regions in southern Peru, home to several world class projects

Apurimac (100% Strike)

• Flagship project
• Very high grade Magnetite ore: 269Mt at 57.3% Fe
• Short term target of 500 Mt
• Production Target: 20 Mtpa
• 69,000 ha of concessions

Cusco (100% Strike)

• 104Mt at 32.6% Fe with exploration upside
• 17,000 ha of concessions

Cerro Ccopane

• 395.6 Mt at an average grade of 43.8% iron.
• 3rd party operated

Pre-feasibility study completed in 20081 (updated in 20102) on Apurimac project indicates clear potential for development of a world class iron ore project

Production target 15 – 20 million tonnes per year of iron-ore concentrate

• •Base case of 20Mtpa of concentrate produced by open pit mining and processing 20 27Mtpa of ore
• •Transport of the high grade (>66%Fe) product to the coast via a slurry pipeline for drying and shipment to customers

• Estimated capital expenditure (2010) of US$ 2.6 – 2.9 billion, competitive with other major iron ore projects
• Various production and transport options were considered, including Rail, Rope Conveyor (lump and fines) and Slurry Pipeline (concentrate)
• •Slurry Pipeline offers lowest capital cost

Attractive life-of-mine operating expenses (2010) of US$ 17 – 20 per tonne of product

• •Open cut mine, low strip ratio (1.2 to 1.8) delivers low mining costs
• •Ore is high grade, coarse grained magnetite which liberates easily
• •High Mass Recoveries (>60%) at coarse grind size (>500 microns) leading to low processing costs
• •Slurry pipeline provides low cost transport mechanism

Strike's Apurimac project benchmarks well against other comparable iron ore projects around the world

High Grade
Low Operating
Costs
Low Capital
Intensity

Drilling planned for 2014 to expand resources at Opaban concessions and test magnetic targets at Sillaccassa, 25km to the west of Opaban

Regional exploration is also planned for 2014, in areas with identified magnetic anomalies and outcropping iron mineralisation

Strike is planning to recommence drilling at Apurimac in 2014, with environmental impact study already underway

	2013						2014
SHORT TERM PLAN	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct
OpabanEnvironmental Study (EIA)
EIA submitted for approval by Ministryof Energy andMines (MEM)
20,000 m Drilling programat Opaban*
SatelliteConcession (Sillaccassa) Environmental Study(DIA)
Satellite Concessions DIA submitted for approval by MEM
SatelliteConcession drilling program (3,000 –4,000m)*

*All drilling is subject to receipt of all necessary government and community approvals

MEDIUM TERMPLAN	2014	2015	2016
Resource Definition
Update 2008 Pre-Feasibility Study
Feasibility Study

Strike is also evaluating alternatives to commence small scale, nearterm production, to generate early cashflows

Strike has already created a stockpile of high grade DSO material

• •8,000 tonnes has been mined by local 'community miners'
• •65% Fe, 0.04% P, 0.013% S
• •Arrangements being finalised to truck to coast
• •Buyers identified strong demand for high quality material
• •If successful , potential exists to scale-up to more significant quantities
• Consistent with government policy to formalise informal community miners
• •Strengthens relationship with local community
• •Using community miners speeds up permitting for small scale mining

Strike is focussed on building a strong "Social License" with local communities – agreements in place with two communities

Good community relations are critical for success In Peru

• •Local communities control surface land rights
• •Dealing with communities can be challenging at times as mining companies are often viewed with suspicion and fear
• Community expectations have been driven up recently by large mining projects
• •Some good progress now being seen by Strike approval for surveys granted

Strike has invested over the last 12 months in building a social license with the Huinchos Community, which covers most of the main Opaban ore body

• •On-site team of 4 community relations specialists
• •4 local community information offices established
• •Assistance with purchase of fertiliser and other agricultural support
• •Funded construction of three local sportsfields and one church
• •Investments in local health and education programs
• •Technical support for irrigation and other projects

Strike also holds substantial exploration assets in the Cusco region of Peru

Strike holds concessions comprising 17,000 hectares in Cusco

• Current JORC Resource of 104Mt at 32.6% Fe with exploration upside
• •Mineralisation remains open along strike and at depth
• Centred on a large 2 kilometre diameter circular magnetic anomaly with north and north-east trending magnetic highs extending both north and south of the circular feature
• •Extensive outcrops of high-grade iron ore coincide with the magnetic anomalies
• •Mapping and surface sampling indicates these outcropping zones commonly contain >60% Fe and contain a mixture of both haematite and magnetite

Strike holds a 31% interest in Cuervo Resources Inc.

• •Resources of 395.6 Mt at an average grade of 43.8% iron at the Cerro Ccopane project which compliment Strike's existing holdings in Cusco
• Cuervo has 14,000 hectares of exploration land with substantial exploration upside

Summary - with 100% project ownership and community approvals for exploration, strike is back on track for significant value creation

Iron remains a good business, with demand and prices expected to remain firm

Peru is endowed with immense natural resources and a favourable investment regime

The Apurimac Project has clear potential to be developed into a world class mine

Strike holds a strategic landholding with exciting potential inherent in the region

Strike has cash reserves sufficient to advance priorities for 2014

Consolidatecommunityapprovals	Implementnext phase ofdrilling andexploration atApurimac	Grow iron oreresourcebase to500mt"CriticalMass"necessary todevelop a 15–20 milliontonne perannum mine	Undertake"Proof ofconcept" forsmall scale,near termproduction
---------------------------------------	--------------------------------------------------------------------------	---------------------------------------------------------------------------------------------------------------------------------------------------	-----------------------------------------------------------------------------------

APPENDICES

JORC Resource Tables

Combined Mineral Resources for Opaban 1 and Opaban 3

Category	Project	t/m3Density	Mt	Fe%	SiO%2	AlO%23	P%	S%
Inferred		4	127.19	56.7	9.66	2.7	0.04	0.2
Indicated	Opaban1	4	133.71	57.57	9.46	2.54	0.04	0.12
Indicated	Opaban3	4	8.53	62.08	4.58	1.37	0.07	0.25
Totals			269.4	57.3	9.4	2.56	0.04	0.16

Cusco

Category	Project	t/m3Density	Mt*	Fe%	SiO%2	AlO%23	P%	S%
Inferred	Santo	4	104.4	32.62	0.53	3.19	0.035	0.53
	Tomas
Totals			104.4	32.62	0.53	3.19	0.035	0.53

Category	Tonnes (Mt)	Iron (%)
Inferred	340.0	43.3
Indicated	35.9	45.9
Measured	19.7	48.3
Total	395.6	43.8

Cerro Ccopane Total Cerro Ccopane - Bob 1 only

Category	Tonnes (Mt)	Iron (%)	SiO(%)2	AlO(%)23	P (%)	S%
Inferred	217.0	40.2	21.6	5.0	0.08	2.2

Although a full suite of elementary analyses were completed on all drilling at Cerro Ccopane the resources apart from Bob1 (Golder) were not estimated for SiO2, Al2O3, or P and S grade estimates were completed only for Orcopura and Bob1 (Golder) resources.

COMPETENT PERSONS STATEMENTS

The information in respect to mineral resources and other exploration results at Cerro Ccopane is extracted from the report entitled "Cerro Ccopane Resource and Funding Update" released by Strike to the ASX on 30 July 2013 and available at www.strikeresources.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. The company confirms that the form and context in which the Competent Peron's findings are presented have not been materially modified from the original market announcement.

JORC Code (2004) Competent Person Statement - Apurimac and Cuervo

The information in this document that relates to exploration results and mineral resources In respect of the Apurimac and Cuervo projects has been compiled by Mr Ken Hellsten, B.Sc. (Geology), who is a consultant to Strike Resources Ltd and is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Hellsten has sufficient experience 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.

Thank You

Peru	Australia
WilliamJohnson	ShaneMurphy–Media&Investor
ManagingDirector	Relations
StrikeResources	FTIConsulting
Tel:+(511)715-8090	+61894858888
wjohnson@strikeresources.com.au	+61420945291
	shane.murphy@fticonsulting.com