SUNSTONE METALS LTD — Investor Presentation 2007

May 2, 2007

Level 1 33 Ord Street West Perth WA 6005

Telephone: + 61 8 9420 9300 Fax: + 61 8 9481 2690

3 May 2007

Company Announcements Office ASX Limited

By e-Lodgement

Dear Sir / Madam

COMPANY PRESENTATION

Avalon Minerals Limited is pleased to release the following Company Update presentation on its exploration activities for Zinc in the Lennard Shelf Province and for Uranium at the Epicurus Prospect 40km West of Rio Tinto's 250,000 tonne uranium deposit at Kintyre, in the East Pilbara region of Western Australia.

Avalon has commenced exploration for Zinc in the Lennard Shelf Province.

The Company's Uranium exploration program is set to get underway in June 2007.

Yours faithfully

David McSweeney Executive Chairman

Avalon Minerals Ltd Level 1, 33 Ord Street, West Perth WA 6005, PO Box 637 West Perth WA 6872

minerals Na

Avalon Minerals Ltd.

Targeting a new generation of Zinc deposits In the Leniterd Shelf Province

CIVETURE

• Listed on ASX Match 2007 SS 5MIPO
• Geographic focus on two world-class mineral provinces
• 2 Zinc exploration at Lennard Shelf, West Kimberley
  • 2.600km2 tenement position en en de la familie de la familie de la familie de la familie de la familie de la familie de la familie de laConstitution de la familie de la familie de la familie de la familie de la familie de la familie de la familie
  • targeting new generation of MVT zinc deposits
  • proximity to Cadjebut and Pillara zinc mines.
• C Uranium, copper-gold exploration, Pilbara region-
  • La 4409kme tenement position
    • Proximity to Kintyre uranium deposit and 32Moz Teller mine EM
    • Excellent regional infrastructure

Avalon Minerals Ltd - Corporate

Encotors

David McSweeney - Manading Director

20 years resource sector experience, founding Managing Director of Gindalbie Metals Ltd non-executive Director - Dynasty Metals Ltd.

Stephen Stone - Dreefor

28 years experience, former Executive Chairman - Apex Minerals NLnon-executive Chairman - Azumah Rescurces Ltd, Director - Encore Metals NL

Chwaliane weis – Dragor

Charlerad Accountant Director - Toodyay Resources Ltd Cawler Resources Ltd RMG16 WAG1 G and Squadte FightS1 to

Managemant

Des Kelly – Gomeny Scoretary CSA Australia/Digirock - Exploration Managers

Avalon Minerals Ltd - Corporate

THE CONSTRUCTION Fully paid Shares on Issue: Unisted options: Number of Sharenoiders Top $20$ Directors & Management Shon Group of China

Geb

AW 20 million Existential

198

GAZ 45% $27525$

Matolin

Avalon Minerals Ltd - Why Zinc?

60 Day Zine Price - US$Ib

Avalon Minerals Ltd - Why Zinc?

Five Year Zinc Price - US$1b

Lennard Shelf Projects

• C World-class zinc province Classic MVT-style deposits ľ.
• **O AReported resources -**22.18Vt @ 6.9% Zn and 230225
• A Historical production 11Mt
• HEGGARING KART ooeraling talefilara
• C CBHEXODING at Wagon Wheel
• Goodmitcsittchire Ľ.

Lennard Shelf Zinc Projects

2.600km2 exploration Author Existing (six pending); Barramenti Costably Participate DI Exploration program feroet generalität sampling - Niton 1H 2007 Crilling 21-2007

Lennard Shelf - Niton Sampling

Exploration Program

Ewioralion team

• CSA Australia Zinc experts/ Lennard Shelf experise
• O Digitook Geologists and Toolships

Exploration producin Sampling program May 2007 EDilling olanda August 2007 $\sum_{i=1}^{n}$

Lennard Shelf - Oscar Range

Lennard Shelf - Lawford

Fiolaci No 2 CENTER CANTA 20km from the Great Norhen Hohway O PIOIIW articly

The Undervisioned Wrere previous diffing included 14m @ 0.24% Zn the thing uses 10

Oad-but we deposit (1 29) t @ 98% 41 and $2-2-10$

Laidlaw Range - Ckm nomin ORREST HILL 22021 brekt Okapin

Lennard Shelf - Barramundi

Profectivic 6 E. C Barramundi 710km2 60km East of Fizioy Grossing Priority Target - Hull Range Company of North East iellis Endlay Hill and Horse

Spring Range - gossans up 10 34 26 26 21 10 21 7 76 21

Paterson Projects

Paterson Projects 1400km2 7 COMPAGNOMENT AVIIV Copper Mine Tale Gold Mine - Kinbyre - Uranium - Rio AVI to Focus on P Uranum potential of the 900km2 Marloo Prospect

P JV or deal on Lamilland

Ginsters 2001

Paterson Projects - Marloo

Epicurus - Uranium target CKDIVIE SWEET MOODTLEV 1000mmtiliteieneit 100ppm U, 4,404ppm Pb. $177$ ppm Zn and $59$ ppm Mo engara SANATION-COORE P Sciences Chief Skri $Z$ n/Pb/Culanomal $\gamma$ Throssel Granites - Copper Cape Warton, Juranium $\sim$

Paterson Projects - Christmas Pool

• E 300km2 ground gostfor
• D Located 20km south Vestoi Teller
• A Telier-style fargets

ENGRANCIER 2 25km north west of 16161 Out of the style gold Italia

OF Three map relic anomalies identified

Summary

E Recently Isted exploration company Experienced management team Pathola-cuality project portfolio O Initial foots on Lennard Shelfzine exploration - chilling commencing 2H 2007 E High-quality Pilbara uranium projects • Vision to build an independent diversified. Australian mining company Sec Growth through acquisition

INDIAL AND INC.

David McSweeney Managing Director SIGHT OF SHEAT ST Mest Path MA 6005 TELES SERVICE EACH SEPARA Mab Mass Assista info@avalonminerals.com.au