Superior Resources Limited

Company Presentation

October 2012

Limitations & JORC

This presentation has been prepared by the management of Superior Resources Limited (the Company) for the benefit of brokers, analysts and investors and not as specific advice to any particular party or persons. The information is based on publicly available information, internally developed data and other sources. Where an opinion is expressed in this presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion only. No warranties or representations can be made as to origin, validity, accuracy, completeness, currency or reliability of the information. The Company disclaims and excludes all liability (to the extent permitted by law) for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. Where the Company expresses or implies an expectation or belief as to the success of future exploration and the economic viability of future project evaluations, such expectation or belief is expressed in good faith and is believed to have a reasonable basis. However, such expected outcomes are subject to risks, uncertainties and other factors which could cause actual results to differ materially from expected future results. Such risks include, but are not limited to, exploration success, metal price volatility, changes to current mineral resource estimates or targets, changes to assumptions for capital and operating costs as well as political and operational risks and governmental regulation outcomes. The Company does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forecast or to update such forecast.

The information in this presentation that relates to exploration results is based on information compiled by Mr Ken Harvey, a full-time employee of the Company, who is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Harvey 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 Exploration Results, Mineral Resources and Ore Reserves’. Mr Harvey consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

Company Summary

Board

Principal Aims

David Horton – Chairman Peter Hwang – Non-Executive Director Ken Harvey – Managing Director

Discovery of:

Mount Isa style copper deposits
VMS copper-gold deposits
Tick Hill gold deposits

ASX

Shares On Issue

Price

Market Cap

Funds

Listed on ASX in November 2007

81.7 Million Shares (listed) No options

6.0c

$5M

$0.9M Cash and Liquid Assets

Company Approach

Company-Maker Targets

Conceptual Exploration Approach

Operating Approach

Large Mount Isa Cu (Pb-Zn-Ag) type – 50Mt @ 3% Cu Moderate-sized VMS Cu-Au-Zn-Ag type – 10Mt @ 3% Cu eq High-grade Tick Hill Au type – 700Kt @ 20 g/t Au (Sedimentary Phosphate and Unconformity Uranium) Select prospective geological environments Target potentially mineralised areas Geophysics with advanced modelling Drilling including deeper holes Maximise exploration expenditure Direct supervision of programs Contract services (Geophysics, Drilling, Geology etc) Minimise head office administration

One Mile Project

One Mile Project Copper-Gold-Zinc-Silver

One Mile Project

Location

210km WNW Townsville,

16km SSE Balcooma

Granted and wholly owned Mining Lease
Surrounding EPMA
(not yet granted)

• Good location (bitumen road, Greenvale township, processing capacity in area) • One Mile VMS & Cockie Creek porphyry Cu prospects

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One Mile Project

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Summary

Outcropping VMS gossan
Large sulphide (pyrite) body
Near-economic Cu-Au-Zn-Ag intersections
Limited drilling coverage
Target - thickened area of the sulphide body with better copper and gold grades
Open at depth to north and south
Promising basic to intermediate volcanic host sequence
Other geophysical targets in surrounding area
Cockie Creek porphyry copper prospect: 5km northeast of One Mile intersections to 90m @ 0.5% Cu

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One Mile Project – Gossan

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A Substantial Gossan on Massive Pyrite
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One Mile Project – Gossan

Gully exposure of gossan

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Interpreted Interpreted Pyritic Schist
Massive Sulphide Semi-Massive Interpreted
(0.92 g/t Au) Sulphide Footwall
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One Mile Project – Main Lode

Gossans and Drill Holes on Magnetics

Gossan/Lode extends over 800m strike length • Improvement in width and grade of the massive and semi-massive sulphides to the south down the plunge of the sulphide body

• Best intersection from drilling in hole SPOM023 with 21.3m @ 0.31% Cu, 0.43g/t Au, 0.92% Zn including:

1950N 1850N

3.3m @ 0.54% Cu, 0.63g/t Au, 2.16% Zn, 8.3g/t Ag

(1.59% Cu equivalent) and

5.2m @ 0.51% Cu, 0.64g/t Au, 1.77% Zn, 7.3g/t Ag

(1.46% Cu equivalent)

Gold (g/t) to copper (%) ratio greater than 1:1
Enclosing pyritic alteration zone thickens and intensifies to the southwest

(Copper equivalents based on prices of $7177/t Cu, $1520/oz Au, $1738/t Zn, $26/oz Ag)

One Mile Project – Main Lode

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Cross Section 1950N (2011)

Gossanous lode outcrop

• Hole SPOM013 - narrow pyritic alteration zone enclosing a thin massive / semimassive sulphide lode (0.47% Cu eq.) • Hole SPOM004 - narrow pyritic alteration zone enclosing a wider massive / semimassive sulphide lode (1.35% Cu eq.) • Gave encouragement to drill cross section 1850N - 100m south (next slide)

(Copper equivalents based on prices of $7177/t Cu, $1520/oz Au, $1738/t Zn, $26/oz Ag)

One Mile Project – Main Lode

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Cross Section 1850N (2012)

Gossanous lode outcrop

• Hole SPOM016 - narrow pyritic alteration zone enclosing a thin massive / semimassive sulphide lode (0.83% Cu eq.)

• Hole SPOM023 - wide pyritic alteration zone enclosing a wide massive / semi-massive sulphide zone (1.5% Cu eq.)

Thickening of both pyritic alteration zone and sulphide zone at depth with increasing copper, gold, zinc and silver grades
• Prospect of a target zone in the vicinity of hole SPOM023 - along strike (north or south) or at depth
Gold (g/t Au) to copper (%) ratio > 1:1

(Copper equivalents based on prices of $7177/t Cu, $1520/oz Au, $1738/t Zn, $26/oz Ag)

One Mile Project – Main Lode

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LONG SECTION
1850N 1950N
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One Mile Project – Main Lode

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Drill Hole SPOM012

Massive and semi-massive sulphides (pyrite with chalcopyrite and sphalerite)
Coarse grained due to amphibolite
metamorphic grade
Alteration – muscovite (after sericite), biotite, phlogopite and silica

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One Mile Project – Main Lode

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One Mile Project – Main Lode

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One Mile Project – New Targets

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IP Survey – Chargeability (N = 2) IP Survey – Chargeability (N = 4)
• Shallow anomaly over gossan and underlying • Deeper anomaly over the Atkinson target to
massive sulphide the west of the gossan – undrilled
Dam
Atkinson
Main Target
Zone
Target
Zone
SHALLOW DEEPER
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One Mile Project – New Targets

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One Mile Project – New Targets

Surface Conductor

Dam VTEM Anomaly

North Weak VTEM Anomaly

Atkinson VTEM Anomaly

VTEM Early Channel (Surface Conductors)

VTEM Late Channel (Bedrock Conductors)

One Mile Project – New Targets

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Conductivity Sections

Derived from VTEM data
Atkinson target is the best anomaly in the VTEM survey – A prime drilling target
Coincident with IP anomaly
Depth – 150m
Expected to be steeply dipping

Chargeability Sections

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One Mile Project – New Targets

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North Gossan

Large gossan outcrop after massive sulphides protruding from laterite indicates good potential in the North target area – not drilled

North Gossan

Close-up photograph of gossan outcrop

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Magnetics

Cockie Creek Copper Prospect

	Easting	Northing	From	To	Length	Cu	Au	Mo
Hole	MGA Z55	MGA Z55	(m)	(m)	(m)	(%)	(g/t)	(ppm)
CRC002	267380	7904295	0	68	68	0.74	0.12	92
CRC009	267356	7904243	66	163	97	0.48	0.07	114
CRC010	267353	7904283	11	85	74	0.42	0.08	78
CRC011	267320	7904295	1	80	79	0.45	0.06	76
CRC014	267019	7904155	15	56	41	0.50	0.10	48
CRC017	267378	7904226	121	215	94	0.53	0.08	99
CRC023	267037	7904120	53	141	88	0.43	0.06	49
CRC026	266995	7904137	11	84	73	0.44	0.05	22
D1	267448	7904183	180	216	36	0.57	0.10	28
D3	267075	7904227	56	104	48	0.48	0.10	94
P11	267403	7904244	50	108	58	0.64	0.07	-
P12	267339	7904345	50	100	50	0.44	0.07	-
P16	267370	7904307	0	40	40	0.75	0.13	-
			Drill Hole Intersections
	Cockie Creek		Porphyry Copper			Prospect
		Located	5km northeast		of One Mile

One Mile Project - Targets

Main Target Zone

Improving widths and copper-gold-zinc-silver grades. Open at depth to the south and north

Other Target Zone

Cockie Creek Porphyry Copper Prospect

Atkinson - coincident IP and VTEM anomalies – undrilled North - large gossan outcrop protruding from laterite – undrilled Dam - coincident strong IP and weak VTEM anomalies undrilled. 5km from One Mile - Drill hole intersections to 90m @ 0.5% Cu.

Superior has a strong position in an area with excellent potential for a significant discovery

Tick Hill Project

Tick Hill Project High-Grade Gold

Tick Hill Gold Project

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Summary

110km SE Mount Isa
Three granted mining leases (renewed for 10 years)
Diatreme Resources Limited is purchasing the leases from Xstrata
Heads of agreement for Superior to farm in ($1M expenditure for 50% equity)
Agreement subject to:

Transfer to DRX Environmental approvals

Tick Hill Gold Mine produced 500,000 oz gold from 700,000 tonnes of ore at 22.6g/t Au in the early 1990s.