STRIKE RESOURCES LIMITED — Investor Presentation 2012

Sep 26, 2012

STRIKE RESOURCESHIGH-QUALITY IRON ORE IN PERUASX CODE: SRK

September 2012

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.

STRIKE RESOURCES

Australian-listed resources company

• • Large-scale iron ore projects in Apurimac and Cusco regions of southern Perú
• •Seeking to establish 15-20 Mtpa business
• •Apurimac Project in pre-feasibility study stage
• • Current iron ore mineral resources totalling 374Mt*
• • Potential access to 179Mt* held by Cuervo Resources
• • Substantial exploration upside for iron and copper/gold
• • Approx. A$19.5M in cash plus approx. US$39.7M in secured loans (end August 2012)
• •100% ownership expected in Apurimac Ferrum

* See the Appendix to this presentation for a breakdown of the total mineral resource into JORC categories per project and the JORC Codecompetent person statement.

CORPORATE INFORMATION SUMMARY

ASX CODE: SRK

Capital structure:

• Ordinary, fully paid shares 142M
• Unlisted options 10.25M
• Cash Position: (August 2012) A$19.5M

TOP SHAREHOLDERS

• •USM Steel & Mining Group Ltd* 18.2%
• •Orion Equities Ltd 11.7%
• •Database Systems Ltd 6.6%
• •Banque Ohman 4.9%
• •Leo Fund Managers 4.9%
• •Ferrous Resources 4.5%

EXPERIENCED BOARD WITH STRONG INDEPENDENTS

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FOUNDATIONS ESTABLISHED FOR STRONG SUSTAINABLE GROWTH

2011/12 Objectives Outcomes

Peru (AF)

PARTNERS #3 Normalise and then strengthen partner

#4 Re-establish positive relations with communities 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

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

#7 Position for strategic investor entry into projects

• Complete resignation of 3 "aligned" directors and appointment of independent
• Strong 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 in conjunction with D&C and consolidation triggered through "Shoot-out" process
• Cuervo deal completed and delivering results
• Triggered shoot-out and appointed Rothschild.

PERU - APURIMAC IRON ORE PROJECT

Peru – The Last Decade

• •Free-trade agreement with the USA
• •Competitive labor and tax rates
• • Stableinvestment environment
• •Greater than 6% p.a. GDP growth

2011 Elections

• • President Humala forms government macro-economic settings unchanged
• •Strong commitment to responsible mining
• • Social programs to reduce poverty funded by profits-based mining tax – still competitive

Apurimac and Cusco Projects

• Moderate terrain with transport and port options well understood

APURIMAC – OPABAN IRON ORE DEPOSITS

Anomaly Current resources of 269Mt at 57.3% Fe* Target of 300 – 350Mt at 57 – 58% Fe+

Current resources:

• •Continuous broad zones
• •Dominantly high-grade, coarse-grained magnetite
• •High-grade potential DSO of 67.9Mt at 61.5% Fe*
• •Low strip and high conversion ratios indicated

Target Opaban mineralization is based on:

• • Undrilledgravity and magnetic anomalies
• •Both deposits open at depth

7+ The mineralisation target is inclusive of existing JORC resources. The potential quantity and grade 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 inrelation to that target iron ore.

* The Appendix breaks down the total mineral resource (including the DSO component) at Opaban into JORC categories and contains thecompetent person statement.

OPABAN-EXCELLENT METALLURGICAL PROPERTIES

DTR Particle Size (P80 µm)

• • Coarse particle liberation size (250 microns vs 30 – 40 microns)
• Pictures here.•60 - 70% mass recovery (vs 35 – 50%)
• •Excellent product grades with low impurities

Fe	64%68%to>
Al2O3	030%1.00%to
SiO2	1.50%450%to
P	001%003%to
S	*001%005%to

*High S samples not included

• Low energy consumption hence lower operating costs

2008 PRE-FEASBILITY INDICATED ATTRACTIVE PROJECT ECONOMICS

Initial Pre-feasibility key parameters and results

• • 27Mtpa mining operation at S/R of <2:1 for 20Mtpa product
• •High grade product >66% Fe with low impurities
• •Slurry pipeline to coast for dewatering and export
• •Average operating costs of <US$20 per tonne
• •Competitive capex ~US$2.9 billion (<US$150/tpa)
• •Infrastructure options and strong government support

Moving Forward

• Grow resources to >500Mt to support 20 year life through exploration and business development

EXCELLENT IRON & AND COPPER/GOLD POTENTIAL

* See the Appendix to this presentation for a breakdown of the total mineral resource into JORC categories per project and the JORCCode 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 inthe determination of an additional Mineral Resource in relation to that target iron ore.

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APURIMAC IRON ORE

• •590 km2 of concessions
• •Sillaccassa target drill ready
• •Targets identified and exploration planned

CUSCO IRON ORE AND Cu/Au

• •AF concessions and Cuervo partnership
• •Almost 400km2 of AF and Cuervo concessions
• • AF: 104Mt @ 33%Fe* and a 23 – 26 Mt potential iron ore mineralisation at 32 – 34% Fe** with <50% of target area tested
• •Cuervo: 178Mt @ 48% Fe + Bob targets*
• • Similar ore style to Apurimac but lower grade and mass recovery and higher sulphur
• •World class copper / gold province
• • 16m @ 1%Cu from 28m and current gold mining but no testing to date
• •IP targets identified

CUERVO TRANSACTION – AN OPTION ON ADDITIONAL Fe RESOURCES

Option to acquire up to 49% of Cuervo*

Stage 1: 32.5% (undiluted) for C$5.25M - program underway

Stage 2: Further 16.7% (49.2% undiluted) for C$9.75M at SRK's option

Current Resources of 178Mt @ 48% Fe

Orcopura: Resources of 106.4Mt @ 45.3%Fe******

Huillque and Aurora: 72 Mt at 52.6% Fe**

Both open along strike and at depth with strong magnetic and gravity association

Exploration

Bob 1: Up to 10km strike potential with magnetic/gravity highs and coincident magnetite outcrop averaging 62%Fe in surface samples

8 holes completed in initial drilling program. Drilling continuing till end October

Copper/Gold: Excellent address and structure but no testing. Huillque Norte gravity target and regional programs

JORCcategories and the JORC Code competent person statement.

Concessionnot held by Cuervo

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* onan undiluted basis or approximately 46% on a fully‐diluted basis.

**Seethe Appendix to this presentation for a breakdown of the total mineral resource at this project into

CUERVO – BOB1 DRILLING

Broad zones of magnetite in all holes to date

Hloe	From	Lhteng	Fe ()%	SiO2()%	S ()%	P ()%	Mn ()%	Cu ()%
BDH12-01	86.20m	133.00m	49.6	14.4	2.36	0.09	0.14	0.11
BDH12-02	12.35m	182.15m	39.6	23.2	2.30	0.08	0.16	0.10
BDH12-03	19.20m	156.00m	40.9	23.3	2.92	0.06	0.19	0.12
BDH12-04	66.10m	188.90m	32.6	28.5	1.80	0.08	0.23	0.06
BDH12-05	3805.m	143.75m	38.3	22.6	1.83	0.09	0.20	0.08

High-grade massive magnetite zones

• • 21.05m @ 51.6%Fe from 103.45m and 26.0m @ 52.8%Fe from 140.5m in BDH12-02;
• • 24m @ 49.9%Fe from 122.7m, 13.85m @ 61.6%Fe from 77m and 43.35m @ 50.3%Fe from 107.15m in BDH12-03;
• •22.5m @ 55.9%Fe from 66.1m in BDH12-04

3 km target zone with 500m drill tested and assays to date for central 300m

COMMUNITY APPROVALS – POSITIVE & IMPROVING

• Patience and trust building required, especially following previous AF "disappearance"
• Colcabamba "pilot" successful along with innovative Camposol visits and expertise
• Established "AF Information Offices" in 2 main communities – Andahuaylas and Huininquiri
• President Humala's visit and positive mining industrymessages to Andahuaylas and Apurimac region
• Dialogue continues with leadership and more broadly in key communities
• Regional authorities and some communities pro-actively approaching AF
• Community approvals flowing and expected to accelerate
• Environmental approvals in line with programs

APURIMAC FERRUM –Status Quo pathway

SEPTEMBER 2012

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

HIGHLIGHTS – SRK VALUE & GROWTH

• Board and management restructured
• Focused; Apurimac & Cusco Iron Ore Projects in Peru
• Consolidation strategy to secure >500Mt resources underway:
  • •Moved to at least 50% of Apurimac Ferrum (AF)
  • •"Shoot-out" of AF in October 2012
  • •Option to acquire 49% of Cuervo Resources*
• Strong Peru-based team established and delivering results
• Approvals flowing progressively
• Cuervo drilling underway and delivering expected results

Moving Forward with risk sharing plan – partner search to commence following move to100% of AF

THANK YOU

ASX: SRK

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OVERVIEW OF 'SHOOT-OUT' PROCESS

Background

• • In July 2009, Strike entered into a settlement agreement with the other shareholders of Apurimac Ferrum S.A. (AF) whereby Strike has the right to make an offer for all the shares in AF that it does not already own.
• • Following an offer by Strike under the "shoot-out" process, Strike's partner, D&C Group, has the right to either accept the offer; or provide a superior counter-offer for all of Strike's shares in AF
• •The successful bidder must then acquire the other party's shares in AF and also repay any loans owed by AF to that party
• •The key assets of AF are the Apurimac and Cusco Iron Ore Projects, located in southern Peru

Overview

Outcome

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3A2012tugus	SCLdfikidifffD&'sAFhtttt•asayorreoprovesoerorsares.
3Ob2012tcoer	LdfD&CSik'sfffAFidiffttttttasayoroaccepreoerororoproveasuperorcouneroer•Pfffiddbdihidtttt20•aymenooerprceanerepaymenuewnays

Strike successful

• Strike acquires 100% of AF for the offer price •Strike repays D&C its loan to AF approx. US$3.3m

D&C successful

• •Strike sells D&C its AF shares for the counter-offer price
• •Strike is repaid its loan to AF approx. US$35.4m

Both outcomes are considered superior to status quo where Strike's loans to AF are recapitalised to approximately 18% of AF in September, 2012

Appendix – JORC Code Information

Resource Breakdown

AF Projects

jPrtoec	lasfCiicaiotsn	()ToMtnnes	d()He%Fea
Apimurac	fedInrre	127.2	56.7
	ddInicate	142	58
Cusco	fedInrre	104.4	32.6

The 68Mt DSO component of the Apurimac resource is comprised of a 27Mt 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)

Prtospec	lasificaioCtsn	()ToMtnnes	d()HeFe%a	ffCut‐o()%Fe
	dMeasure	19.7	48.26	20
Orcopura	ddInicate	35.9	45.91	20
	(dlusMeasurep)dicadInte	655.	46.75	20
Orcopura	fedInrre	51	3.47	20
or
Prtospec	lasificaioCtsn	()ToMtnnes	()d%HeFea	ffCut‐o()%Fe
Orcopura	fed*Inrre	46	45.8	30
illqdHuueanAurora	fedInrre	72	52.6	30
lTota	fedInrre	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.