STRIKE RESOURCES LIMITED — Investor Presentation 2012

May 21, 2012

STRIKE RESOURCES HIGH-QUALITY IRON ORE IN PERU ASX CODE: SRK

May 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
• ~US$23M in cash plus ~US$38M in secured loans
• Control Position 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 Code competent person statement.

CORPORATE INFORMATION SUMMARY

AS X C O D E : S R K

• Capital structure:

• Ordinary, fully paid shares 142M
• Unlisted options 10.25M

• Cash Position: (March 2012) A$23M

T O P S H AR E H O L D E R S

• Gallagher Holdings Limited 18.2%
• Orion Equities Limited 11.7%
• Database Systems Limited 6.6%
• Banque Ohman 4.9%
• Ferrous Resources 4.5%

E X P E R I E N C E D B O AR D W I T H S T R O N G I N D E P E N D E N T S

FOUNDATIONS ESTABLISHED FOR STRONG SUSTAINABLE GROWTH

2011 Objectives

CORPORATE #1 Strengthen

board and increase independent directors

#2 Establish strong operating team in Peru (AF)

PARTNERS #3 Normalise and then strengthen partner relationships

#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

Outcomes

• Complete resignation of 3 "aligned" directors and appointment of independent
• Appointed Tom Kelly (CEO) and strong technical and commercial team 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, consolidation discussions and funding arrangements established
• Cuervo deal completed and delivering results. Strike BD team established

PERU - APURIMAC IRON ORE PROJECT

Peru – The Last Decade

• Free-trade agreement with the USA
• Competitive labor and tax rates
• Stable investment 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

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:

• Undrilled gravity 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 in relation to that target iron ore.

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% to >68%
AlO23	0.30%to1.00%
SiO2	1.50% to 4.50%
P	0.01% to 0.03%
S	0.01% to 0.05%*

* 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 >68% 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 JORC Code competent person statement.

10 **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.

• APURIMAC IRON ORE

• 590 km2 of concessions
• Drilling at Colcabamba from June Qtr
• Sillaccassa target drill ready
• Exploration underway or 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 inferred resource at 32 – 34% Fe** with 30 – 40% 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 survey commencing late June quarter

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

Resource and Exploration

11

Bob 1: Up to 10km strike potential with magnetic and gravity highs

Extensive magnetite outcrop averaging 62%Fe in surface samples

Approvals and access in place, 4500m drilling from June and resource estimate planned for mid-December Qtr

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

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

JORC categories and the JORC Code competent person statement.

Concession not held by Cuervo

* on an undiluted basis or approximately 46% on a fully-diluted basis.

COMMUNITY APPROVALS – POSITIVE & IMPROVING

• Patience and trust building required, especially following previous AF "disappearance"
• Colcabamba "pilot" very successful and approval granted for further 12 months' exploration
• Established "AF Information Offices" in 2 main communities Huinchos and Huininquiri
• President Humala's visit and positive mining industry messages to Andahuaylas and Apurimac region
• Formal dialogue underway with "General Assembly" planned for coming weeks at key communities
• Some communities pro-actively approaching AF
• Requests from regional authorities to work with AF on regional information processes for communities
• Community approvals flowing and expected to accelerate over 2012
• 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 September 2012
  • Option to acquire 49% of Cuervo Resources*
• Strong Peru-based team established and delivering results
• Approvals flowing and exploration programs accelerating
• Cuervo and AF drilling from June
• Short- to medium-term value through business development

THANK YOU ASX: SRK

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 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)

Prospect	Classification	Tonnes (Mt)	Head Fe (%)	Cut-off(% Fe)
Orcopura	Measured	19.7	48.26	20
	Indicated	35.9	45.91	20
	(Measured plusIndicated)	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 andAurora	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 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 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 Cullen consents to the inclusion in this document of the matters based on this information in the form and context in which it appears.