STRIKE RESOURCES LIMITED — Investor Presentation 2009

Mar 24, 2009

Wednesday, 25 March 2009

MARKET ANNOUNCEMENT

Presentation at Global Iron Ore & Steel Conference

The Company is pleased to enclose a copy of a presentation delivered by Managing Director, Shanker Madan, at the 12th Annual Global Iron Ore & Steel Forecast Conference, held in Perth, Western Australia.

For further information:

Shanker Madan Managing Director T | +61 8 9214 9700 E | smadan@strikeresources.com.au

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves has been compiled by Mr Hem Shanker Madan who is a Member of The Australian Institute of Mining and Metallurgy. Mr Madan is the Managing Director of the Company. Mr Madan 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 Madan consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

www.strikeresources.com.au

STRIKE RESOURCES LIMITED A.B.N. 94 088 488 724

Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 ASX Code: SRK T | +61 8 9214 9700 F | +61 8 9322 1515 E | info@strikeresources.com.au

DEVELOPING A WORLD CLASS IRON ORE PROJECT

Strike Resources –March 2009

EXECUTIVE EXECUTIVE SUMMARY SUMMARY

STRIKE IS DEVELOPING A 20 – 40 MTPA HIGH GRADE (+67% FE) IRON ORE OPERATION IN PERU, WITH A CURRENT JORC INDICATED RESOURCE OF 133MT AND A TARGET POTENTIAL OF ~1 BILLION TONNES IN TWO PROJECT AREAS

PRE-FEASIBILITY STUDY CONFIRMS PROJECT EARNINGS FROM 20MTPA OF ~US$ 900 MILLION ANNUALLY AT CURRENT BENCHMARK PRICES.

"It is noted however that the non-JORC compliant potential quantities referred to above are conceptual in nature due to insufficient exploration and it remains to be ascertained if exploration will confirm the non-JORC estimates by Peruvian Ministry of Energy and Mines (1974) and Takahashi Trading (1961)".

2

PRESENTATION SCHEDULE

• STRIKE RESOURCES LIMITED – WHO WE ARE
• OVERVIEW OF THE APURIMAC AND CUZCO PROJECTS
• THE APURIMAC PROJECT
  • EXISTING RESOURCE
  • RESOURCE POTENTIAL
  • METALLURGY
  • PIPELINE
  • PREFEASIBILITY STUDY RESULTS
• THE CUZCO PROJECT
• SUMMARY

STRIKE RESOURCES LIMITED IS A PUBLIC COMPANY LISTED ON THE STRIKE RESOURCES LIMITED IS A PUBLIC COMPANY LISTED ON THE AUSTRALIAN STOCK EXCHANGE (ASX) AUSTRALIAN STOCK EXCHANGE (ASX)

ASX Code: SRK

Odifllidhrnarpasaresyuy:	illi130mon
UlidOittnsepons:	183illimon
CFllDildIdilttuyuessueapaillimon	1483
$ChA15illi7asmon:
jiMhhldldaorsareoersnceu:
GllhHldiLiidtaagerongsme	199%
OiEiiLiid(OEQ)ttronqesmeu	101%
SiiDbLdtttaaaseysemsme	72%

Strike Board

STRIKE HAS A BOARD OF DIRECTORS WITH EXTENSIVE IRON ORE STRIKE HAS A BOARD OF DIRECTORS WITH EXTENSIVE IRON ORE INDUSTRY AND COMMERCIAL EXPERIENCEINDUSTRY AND COMMERCIAL EXPERIENCE

John Stephenson – Chairman

Exploration Director Rio Tinto Australasia. 35+ years managing exploration.

Shanker Madan (Managing Director)

BHP, Rio Tinto, Hamersley Iron. 30+ years iron ore experience.

Malcolm Richmond

Managing Director Development Hamersley Iron.

Managing Director R&D Rio Tinto. 30+ years bringing billion dollar iron ore

projects on-line.

Farooq Khan

20+ years capital markets experience Executive Management of ASX Listed Companies Corporate Law Background

Farhad Moshiri

Executive Chairman of Metalloinvest (leading Russian mining and metals group).

William Johnson

20+ years' experience in senior management and executive roles in public companies in Australia, New Zealand and Asia.

Victor Ho

Executive and Company Secretarial roles with a number of a number of ASX listed companies

STRIKE HOLDS ITS INTERESTS IN PERU DIRECTLY AND THROUGH A STRIKE HOLDS ITS INTERESTS IN PERU DIRECTLY AND THROUGH A JOINT VENTURE COMPANY, APURIMAC FERRUM S.A. (AF) JOINT VENTURE COMPANY, APURIMAC FERRUM S.A. (AF)

STRIKE HOLDS A MAJORITY CONTROLLING INTEREST IN TWO WORLD CLASS IRON ORE DEPOSITS LOCATED IN PERU, SOUTH AMERICA.

PERU IS A WORLD CLASS MINERAL BELTPERU IS A WORLD CLASS MINERAL BELT

• Peru has 12% to 16 % of the world's known resources of silver, gold, zinc, copper and lead
• Peru is among the top five producers in the world of silver, zinc, gold, copper and lead
• Rio Tinto, Xstrata, Newmont, BHP, Shougang and Teck Cominco amongst many others have a large stake in the mineral industry in Peru.
• Peru Offers:
  • A stable investment environment (currently BB+ rated)
  • Lock-in tax rates, funds repatriation rules etc.
  • Competitive labour costs.
  • Corporate tax rates and royalties comparable to Australia.
  • Free trade agreement recently ratified with the USA.

HISTORICAL REPORTS ESTIMATE A LARGE HIGH GRADE RESOURCE IN HISTORICAL REPORTS ESTIMATE A LARGE HIGH GRADE RESOURCE IN THE TWO AREASTHE TWO AREAS

• Large untapped deposits of high grade iron ore are rare.
• Potential target resources from published estimates for Apurimac and Cuzco project areas by the Peruvian Ministry of Energy and Mines (1974) and Takahashi Trading (1961), based on surface mapping and sampling programs are in excess of 1 billion tonnes of high grade (~60% Fe) resource.
• Current JORC Indicated Resource is 133Mt at 59.4% Fe in 2 of 86 concessions.

Apurimac

APURIMAC DEPOSITS ARE HIGH GRADE AND EASILY ACCESSIBLE. APURIMAC DEPOSITS ARE HIGH GRADE AND EASILY ACCESSIBLE.

Apurimac deposits are located near a regional airport servicing the major town of Andahuaylas (15km away, population 50,000).

THE APURIMAC DEPOSITS ARE AT THE HEART OF A NEW IRON ORE APURIMAC DEPOSITS ARE AT THE HEART OF A NEW IRON ORE PROVINCEPROVINCE

The Apurímac project comprises 71 concessions totalling 58,709 hectares.

Strike Peru Concession

Concessions

DRILLING HAS TO DATE DRILLING HAS TO DATE ONLY SCRATCHED THE ONLY SCRATCHED THE SURFACE AT APURIMACSURFACE AT APURIMAC

Numerous +60% Fe rock chip samples on the majority of concessions indicate significant potential for delineation of large resource.

APURIMAC HAS A JORC INDICATED APURIMAC HAS A JORC INDICATED RESOURCE 133MT @ 59.40% FE RESOURCE 133MT @ 59.40% FE AND GROWING. AND GROWING.

• Resource drilling has been conducted in only 2 out of 73 concessions in Apurimac to date.
• A resource target of 210 - 260 Mt at Opaban I is projected based on geophysical data.
• 133Mt at 59.4% Fe JORC Indicated Resource at Opaban I and III.

DRILLING AT OPABAN 1 INCLUDES DRILLING AT OPABAN 1 INCLUDES A 154M INTERCEPT OPEN AT A 154M INTERCEPT OPEN AT DEPTH.

• Detailed gravity and magnetic surveys followed by 31 diamond core holes and 45 RC holes have been drilled to date
• High grade intercepts including 154 metres at 62.8% Fe.
• Drilling at (located north and contiguous to Opaban I) has extended the Opaban I mineralisation by approximately 400m.

DRILLING AT OPABAN 3 INDICATES DRILLING AT OPABAN 3 INDICATES AVERAGE DEPTH OF AVERAGE DEPTH OF MINERALISATION TO BE 62 METRES. MINERALISATION TO BE 62 METRES.

• Only a small portion of the gravity anomaly has been drilled.
• Average grade of +6mm fraction is +62% Fe.
• +6mm fraction constitutes 90% of the total rock.
• Although the total resource is estimated at 21 Mt, only 8.5Mt has been included in the PFS.

EXPANSION. EXPANSION.

CONCESSION

Ferrum + MAPSA 2001

Opaban 1 & 3 300Mt

110Mt

Sillicasa + Colcabamba90Mt

Pampachiri + Christforo + Ferroso

100Mt

EXISTS FOR RESOURCE EXISTS FOR RESOURCE

COMMENTS

both concessions.

high grade outcrops.

Mapping has outlined a significant resource potential.

~ 20km from Opaban along pipeline route. Mapping and surface sampling shows considerable potential.

One third of drill holes in Opaban 1 are open at depth. Further resources are expected at depth, to the north ,west and east in

Large magnetic anomalies have been identified in F8, F4, F9, F11. Surface outcrops in these and other concessions show

SIGNIFICANT POTENTIAL SIGNIFICANT POTENTIAL Airport Airport

"It is noted however that the non-JORC compliant potential quantities referred to above are conceptual in nature due to insufficient exploration and it remains to be ascertained if exploration will confirm the non-JORC estimates by Peruvian Ministry of Energy and Mines (1974) and Takahashi Trading (1961)".

19

Resource

RESOURCE POTENTIAL AT APURIMAC IS ESTIMATED AT 600Mt. RESOURCE POTENTIAL AT APURIMAC IS ESTIMATED AT 600Mt.

Resource Potential

20"It is noted however that the non-JORC compliant potential quantities referred to above are conceptual in nature due to insufficient exploration and it remains to be ascertained if exploration will confirm the non-JORC estimates by Peruvian Ministry of Energy and Mines (1974) and Takahashi Trading (1961)".

AN AGGRESSIVE DRILLING CAMPAIGN SHOULD DELINIATE AN AGGRESSIVE DRILLING CAMPAIGN SHOULD DELINIATE600MT by 2011. 600MT by 2011.

STRIKE'S EXPLORATION METHODOLOGY IS PROVINCE RATHER THAN S EXPLORATION METHODOLOGY IS PROVINCE RATHER THAN DEPOSIT FOCUSSED. DEPOSIT FOCUSSED.

• The Company is committed to developing its regional presence by continuing to explore in the region.
• The Company believes that the Apurimac and Cuzco deposits are not isolated instances of large iron ore deposits and that there exists the potential for significantly large deposits of iron ore to occur under cover.
• A helimag aeromagnetic survey was completed in June 2008 and new concessions were added to the portfolio.
• Based on the regional work the Company has more than doubled its land holding in the last 6 months to a total of ~70,000 hectares.

RESOURCE DEFINITION HAS BEEN TEMPORARILY SUSPENDED. RESOURCE DEFINITION HAS BEEN TEMPORARILY SUSPENDED.

Reasons:

• Market uncertainties.
• Partner funding constraints.

STRIKE IS BUILDING STRONG GOOD COMMUNITY RELATIONS IN PERU. STRIKE IS BUILDING STRONG GOOD COMMUNITY RELATIONS IN PERU.

• Local community approvals are required for land access and mining.
• Company has appointed strong and experienced Community Relations team.
• Mine Development involves negotiations with many communities; negotiations can be complex and time consuming.
• After considerable investment in time and money, strong community support being fostered.
• Some approvals are in hand; others are being negotiated.

Community Relations

THE APURIMAC PROJECT THE APURIMAC PROJECT MINE DEVELOPMENTMINE DEVELOPMENT

Prefeasibility Studies

A SIGNIFICANT COMPANY MILESTONE WAS ACHIEVED WITH THE A SIGNIFICANT COMPANY MILESTONE WAS ACHIEVED WITH THE COMPLETION OF THE APURIMAC PRE COMPLETION OF THE APURIMAC PRE-FEASIBILITY STUDY IN JULY FEASIBILITY STUDY IN JULY 2008

STUDY PRIME RESPONSIBILITY Geology, Mining and Resource Snowden Group Mineralogy, Petrology and Characterisation CSIRO Process system design and testing Sinclair Knight Merz Plant and Site, Mechanical, Electrical, Power Supply, Port and Mine Sinclair Knight Merz Infrastructure Mine and Port Sinclair Knight Merz Port facilities Marine COSAPI S.A. Pipeline Design Pipeline Systems Incorporated (PSI) Community and Environment Sinclair Knight Merz Risk Analysis Sinclair Knight Merz Capital Cost Estimate and Operating Cost EstimateSinclair Knight Merz

Apurimac Production

PRODUCTION OF 20 MILLION TONNES PER YEAR IS PLANNED FROM PRODUCTION OF 20 MILLION TONNES PER YEAR IS PLANNED FROM APURIMAC. APURIMAC.

• Mining will be open pit with a low stripping ratio of 1.7:1.
• Mined ore will be beneficiated and fed into a ~360km slurry.
• Product mix will be 50:50 Mag/Hem concentrate.
• Product grades of ~ 68% Fe with average weight recovery of 85%.
• Tres Hermanas is the preferred deep water port.
• Port facilities accommodate cape-size vessels.

Principal Ore Body in Opaban 1

Mineralogy

DISTRIBUTION OF MAGNETITE HEMATITE IS ROUGHLY 50: 50.

Mineralogy

L code	LTYPE	Core	Depth (m)Summary of macroscopic characteristics		Grade est.
MGOX	5.	OP1-0019-1	43.75-50.6	grevish/dull, cracked to microporous w. distinct, fine blue-green infill,rel. friable & lower end of medium hardness.	moderate
MGOX	5.	OP1-0028-7	71.8-73.0	Macro/micro-porous, earthy w. brown goethitic infill and minor yellowshale. Medium porosity/ hardness, common coarse sulphide grains(2. doesn't correlate w. S assay- check!)	moderate
HEOX	8	OP1-0026-1	64.3-65.3	Earthy, dk brown micro/macro-porous sample. Some coarse martitecrystals Minor white/greenish, soft gangue	moderate
HEBX	7	OP1-0031-1	111.4-122.5	Heavily fractured, rel. friable sub-grade material. White/greenish scalycoatings & particulate infill. Crystalline quartz	sub-grade
MGSUL	2.	OP1-0028-9	96.2-99.1	Black, microporous, relatively coarse crystalline Mt w. abundant sulphideaggregates - prob. pyrite. Sulphur smell. Bluish particulate gangue.	laxx
FEOX	12	OP1-0020-2	84.1-86.3	Medium-friable microporous ore.Majority of sample red/ yellow shaly/ goethitic gangue.	sub-grade
HEBX	10 1	OP1-0020-1	31.8-36.9	Moderately porous but competent, moderately magnetic. White topinkish infill. Brecciated	JOXX.

Sample	Fe	FeO.	SiO 2	Al2O3		Õ.	CaO	TiO 2	M.D.	MaQ.	Cо	Сu	K20	LOI 371	LOI 900
OP1-0019-1	61.12	3.90	7.48	0.80	0.068	0.013	.60	0.17	0.05	2.18	0.003	0.005	0.052	0.27	$-0.47$
OP1-0020-2	57.90	2.01	8.56	2.89	0.050	0.035	0.37	0.12	0.13	1.11	0.034	0.215	0.145	2.81	3.12
OP1-0020-1	66.17	13.00	2.88	.33	0.028	0.029	0.17	0.03	0.06	0.60	0.046	0.061	0.024	0.56	$-0.08$
OP1-0026-1	61.96	4.46	6.44	.61	0.034	0.020	0.45	0.08	0.11	0.66	0.036	0.059	0.048	- 54	. 64
OP1-0028-7	63.45	19.90	5.15	.19	0.019	0.034	0.54	0.07	0.07	2.02	0.051	0.122	0.070	0.82	$-0.35$
OP1-0028-9	57.80	19.70	7.56	2.12	0.025	2.55	0.95	0.13	0.11	4.55	0.024	0.086	0.292	$-0.73$	0.64
OP1-0031-1	43.02	5.79	12.06	2.87	0.025	0.039	9.02	0.14	0.14	3.55	0.019	0.062	0.558	.73	9.80

Typical crushed ore <1 mm with liberated sulphide particles [white], grey particles are iron minerals, darker gangue difficult to see against epoxy background, OP1- 0028 MGSUL

Mineralogy

Ultrafine cyclosized crushed ore with liberated sulphide particles [white], grey particles are iron minerals, darker gangue difficult to see against epoxy background, OP1-0028

Beneficiation achieved in cyclosizer from CS1 to CS3 compared to screened product –53+38 microns.

TEST WORK HAS CONFIRMED EXECLENT METALLURGICAL PROPERTIES. TEST WORK HAS CONFIRMED EXECLENT METALLURGICAL PROPERTIES.

Test work on reverse circulation chip samples from Opaban I returns product grades at coarse crushing with particle sizes of 80% passing 125 and 250 microns as follows.

Fe	6802%	to	6828%
AlO23	030%	to	503%
SiO2	151%	to	177%
P	001%	to	002%

These excellent results suggest low energy consumption for the beneficiation process, which means lower operating costs. No floatation circuit is required as part of the beneficiation process.

TOPOGRAPHY FAVOURS A SLURRY PIPELINE, OFFERING LOW TOPOGRAPHY FAVOURS A SLURRY PIPELINE, OFFERING LOW COST TRANSPORTATION TO THE COAST. COST TRANSPORTATION TO THE COAST.

• Pipeline offers relatively low capital expenditure and operating cost.
• The route allows for a mostly flat to gentle downhill gradient, allowing gravity to do most of the work thereby minimising the need for extensive pumping.
• Water and gas are readily available.
• Targeted throughput: 20 Mt pa expanding to 40Mt pa.
• Proven technology – numerous existing slurry pipelines including:
  • Bailadila (India) – 7 Mt pa, ~270km
  • Samarco (Brazil) – 18 Mt pa, ~350km
  • MMX Minas-Rio (Brazil) – 26.5Mt pa, ~525km

37

LARGE BODIES OF WATER ARE LOCATED NEARBY TO SUPPORT LARGE BODIES OF WATER ARE LOCATED NEARBY TO SUPPORT TRANSPORT BY SLURRY PIPELINE. TRANSPORT BY SLURRY PIPELINE.

PSI

SLURRY PIPELINES UTILISE PROVEN TECHNOLOGY. SLURRY PIPELINES UTILISE PROVEN TECHNOLOGY.

• PSI have selected a preferred pipeline route to transport iron ore from the mine to coast over a distance of 363km
• Only 2 pumping stations will be required
• The pipeline will be buried
• The route does not pass through any sensitive areas

ConditionsOPERATING CONDITIONS AT APURIMAC ARE HIGHLY FAVOURABLE. OPERATING CONDITIONS AT APURIMAC ARE HIGHLY FAVOURABLE.

CLIMATE

• Apurimac 3,500m ASL; Cuzco ~4,000m ASL
• Similar elevations to many large mines in Peru
• Weather conditions benign

LABOUR

• Apurimac Project 15km from Andahuaylas with 50,000 population
• Cuzco Project 80km from Cuzco: Peru's second largest city

POWER

Existing regional infrastructure with surplus power on national grid available

Port

TRES HERMANAS IS AN ATTRACTIVE PORT SITE. TRES HERMANAS IS AN ATTRACTIVE PORT SITE.

• 20 Metres depth at 300 metres from shore.
• Good protection from prevailing southern winds and currents.
• Considerable land available for stockpile etc.

APURIMAC APURIMACESTIMATED PFS OPERATING COSTS (20 ESTIMATED PFS OPERATING COSTS (20 Mtpa)

	$/CSdUTtosry
iiDtescrpon	Cttoncenrae
PGldAdiiittrocesseneraanmnsraon,	093
RdCblteagensanonsmaesu	103
fIttnrasrucure	040
Poerw	274
Spares	278
MiidGlnnganeoogy	630
POittorperaons	032
Tltoa	5140
Citonngency	145
CTlil.ittoanconngency	1595

APURIMAC OPERATING COSTS WILL BE MUCH LOWER THAN APURIMAC OPERATING COSTS WILL BE MUCH LOWER THANAUSTRALIAN MINESAUSTRALIAN MINES

Company	Chbflittascosseoreroyaes()$/$/AFOBUShididtttwerencae
$S(S/)ikRUBFOttreesources–	()16
SFMl(FMG)DOttoresceeasu–	24
$BHP(US/)t	(29)
$RiTi(US/)ttono	()30
iCiSMdDOttwesorporaon–	38*
SMhiMlDOturcsoneas–	38*
MGibDSOtonsonu–	42
PDSOtorman–	42
GRBFOrangeesources–	45
SGidlbiMlDOtnaeeas-	48

Source: BBY Limited (from Company Reports and Forecasts)

* Includes A$9 capital charge for rail and port

DSO = Direct Shipping Ore BFO = Beneficiated Feed Ore

ESTIMATED CAPITAL COSTS FOR APURIMAC (20 MTPA) ARE ESTIMATED CAPITAL COSTS FOR APURIMAC (20 MTPA) ARE REASONABLE FOR A PROJECT OF THIS SCALEREASONABLE FOR A PROJECT OF THIS SCALE

iiDtescrpon	$CSUMtos
SMiidffiifttttneeanosenrasrucure	361082,
PPltrocessan	341971,
iiTlangs	48329,
CPilittoncenraepene	489962,
Ptor	280962,
SWltaeruppy	34886,
CElildiittecrcaanommuncaons	54654,
TlIdittoanrecs	692657,
Tltoa	2304611,,
Citonngency	200555,
Tlil.Cittoanconngency	5520166,,

FORECAST EARNINGS AND NET PRESENT VALUE FOR APURIMAC (20 FORECAST EARNINGS AND NET PRESENT VALUE FOR APURIMAC (20 MTPA) ARE VERY ATTRACTIVE. MTPA) ARE VERY ATTRACTIVE.

Diitescrpon	Uitns	Eittsmae
OPiFB2013trceperonne	$S/UT	60
COChi2013tttasperangossperonne	$S/UT	18
Tonnesperannmu	MT	20
Capex	$USM	2500,
EBITDA(fiflldi)ttrsearproconyuu	$USM	880
NPVl(di)8%tttteresenaesconraeuu	$USM	1100,

Competitive Advantage

GOOD GRADES + SIMPLE METALLURGY + LOW PERUVIAN COST GOOD GRADES + SIMPLE METALLURGY + LOW PERUVIAN COST STRUCTURE = A DISTINCT ADVANTAGESTRUCTURE = A DISTINCT ADVANTAGE

• Apurimac offers superior grades compared to lower grade ores from Australia.
• Operating costs are expected to be very competitive.
• Apurimac ore is a mix of hematite and magnetite which liberate easily with two stage magnetic separation:
  • * LIMS for magnetite and
  • * WHIMS for hematite

Producing a very high grade concentrate (~68% Fe) at 85% weight recovery at a relatively coarse grain size.

Potentially large tonnage production will allow purchasers to secure long term supply contracts against current major producers – BHP, Rio, Vale.

THE APURIMAC PROJECT HAS THE POTENTIAL TO BE A TRULY WORLD THE APURIMAC PROJECT HAS THE POTENTIAL TO BE A TRULY WORLD CLASS, HIGHLY PROFITABLE IRON ORE MINE CLASS, HIGHLY PROFITABLE IRON ORE MINE

• Strike is confident of delineating sufficient resource to support a 20Mtpa operation at Apurimac.
• Capex of $125 per annual tonne of production is comparable with other major iron ore mines.
• Operating costs per tonne will be among the lowest anywhere in the world.
• Peru is a very attractive country to operate in with established mining infrastructure and supportive government.
• High quality concentrate produced from Apurimac will add to blast furnace productivity and be keenly sought after by steel mills.

THE CUZCO PROJECT THE CUZCO PROJECT

Cuzco

CUZCO OFFERS THE POTENTIAL TOCUZCO OFFERS THE POTENTIAL TO EXPAND PRODUCTION TO 40 MT PA EXPAND PRODUCTION TO 40 MT PA

• Drilling to delineate resource to support a further 20Mtpa
• Separate mine development at Cuzco
• Second pipeline to join into the Apurimac pipeline corridor
• Utilise same port infrastructure as for Stage 1 Apurimac project

CUZCO DEPOSITSCUZCO DEPOSITS

The Cuzco project is located 130 kilometres south-east of the Apurímac Project area and 80 kilometres South of the city of Cuzco which is Peru's second largest city.

THE CUZCO PROJECT COMPRISES A TOTAL OF 15 CONCESSIONS WITH THE CUZCO PROJECT COMPRISES A TOTAL OF 15 CONCESSIONS WITH AN AREA OF 12,363 HECTARES AN AREA OF 12,363 HECTARES

CUZCO HAS A TARGETED RESOURCE OF 500 CUZCO HAS A TARGETED RESOURCE OF 500-650MT

• Current drilling on 10% of radial anomaly has delineated 54Mt iron ore.
• The Cuzco deposits occur as flat tabular radial iron ore deposits within a 4km diameter area around an intrusive core
• Work done to date includes:
  • •Geophysical surveys
  • • Rock chip sampling of outcropping mineralisation
  • • 125 DDH holes drilled totaling 15000m

125 DRILL HOLES HAVE BEEN 125 DRILL HOLES HAVE BEEN COMPLETED AT CUZCO COMPLETED AT CUZCO

• Two types of iron ores occur in the Cuzco concessions:
  • • High grade exo-skarn mineralisation in limestone is generally high grade (+60% Fe) hematitic and low in impurities.
  • • Endo-skarn mineralisation in the intrusive rocks is widespread as sheets and flat lenses. It extends from near surface to depths in excess of 150 metres with cumulative thicknesses of up to 80 metres.
• Beneficiation studies show simple magnetic separation to produce concentrate grades averaging 67% Fe and sulphur of less than 0.1%.

CUZCO ORE OCCURS IN FLAT LYING DEPOSITS CUZCO ORE OCCURS IN FLAT LYING DEPOSITS

Cross sections drawn of geophysical modelling indicate iron ore deposits are likely to be horizontal or gently dipping commencing at or near the surface with potentially low waste to ore ratio for mining operations.

A SECOND PIPLEINE FROM CUZCO WILL JOIN WITH THE APURIMAC A SECOND PIPLEINE FROM CUZCO WILL JOIN WITH THE APURIMAC PIPELINE PIPELINE

STRIKE WOULD WELCOME A PARTNERSHIP TO DEVELOP ITS PROJECTS STRIKE WOULD WELCOME A PARTNERSHIP TO DEVELOP ITS PROJECTS IN PERU. IN PERU.

The Strike Board wishes to proceed along a path of continued development for the Apurimac Project and seeks a partner who shares the same ideal:

A 2 year programme to develop reserves to at least 500MT.

• A positive effort to cement community relations.
• To cement the JV's reputation in Peru.

Undertake full scale engineering studies to support a Bankable Feasibility Study.

Construction/Operation.

20092009	20102010	20112011	20122012	20132013
RDfiesourceen	iiton
	Diltea	dEiiengneerng
	Eil/Atnvronmenappr	lovas
		DiiPtecsonoroc	dee
		Ctons	itrucon

STRIKE IS DEVELOPING A 20 – 40 MTPA HIGH GRADE (67% FE) IRON ORE OPERATION IN PERU, WITH A RESOURCE POTENTIAL OF ~1 BILLION TONNES.

STRIKE HAS THE EXPLORATION, DEVELOPMENT AND OPERATIONAL EXPERTISE NECESSARY FOR THE SUCCESSFUL DEVELOPMENT OF SUCH WORLD CLASS PROJECTS.

DISCLAIMERDISCLAIMER

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. 59

Strike Resources LimitedA.B.N 94 088 488 724

Level 14The Forrest Centre 221 St Georges Terrace Perth, Western Australia 6000

Telephone +61 8 9214 9700 Facsimile +61 8 9322 1515

Email: info@strikeresources.com.au Web: www.strikeresources.com.au