TALONX RESOURCES LIMITED — Investor Presentation 2004

Feb 2, 2004

MOUNT BURGESS MINING N.L.

14^th Minesite Mining Forum

February 2004

Presented by: Nigel Forrester Chairman

MOUNT BURGESS MINING N.L.

A.C.N. 009 067 476

Listed on the Australian Stock Exchange since 1985 -Listing Code MTB

Issued Share Capital 118,000,000 shares

178 St Georges Terrace Perth Western Anstralia 6000

Postal: PO Box 7200 Cloisters Square Perth Western Australia 6850

Tel: +61 8 9322 6311 $\text{Fax: } +61893224607$

Email: $\text{mtb}(\mathcal{Q})$ mount burgess.com Website: www.mountburgess.com

Australian Project Locations

Telfer Barrick Joint Venture

• * Yeneena Basin targeted by Barrick as part of project generation activities in 2002 / 2003.
• Mount Burgess's NW Telfer Project identified as a high quality $\phi^{\Phi}_{\Delta} \Phi$ project
• Heads of Agreement signed between Mount Burgess and $\bullet^{\tiny\textcircled{#}}_{\Delta}\bullet$ Barrick in January 2004
• Barrick to spend Aus\$5 million within 5 years to earn $51%$
• Barrick have the right to withdraw after spending Aus\$1 million
• Mount Burgess can elect to fund pro-rata 49% of project expenditure once Barrick has earned 51% or be free carried with 25% through to mining

Telfer Interpreted Geology

2004 Telfer Field Season

Barrick propose a programme of data compilation and on ground geological and geophysical work leading to the deep drill testing of selected targets

Tsumkwe Diamond Project Namibia

❖ REASONS FOR BEING AT TSUMKWE - NAMIBIA

• To follow up a G10 garnet anomaly delineated by DeBeers and RTZ
• Searching for the source of the Skeleton Coast diamonds ◈
• Namibia, a good country in which to operate
• ❖ AREA UNDER EXPLORATION
• ♦ 8,000 km² in NE Namibia on the border with Botswana
• ❖ EXPLORATION FIRST COMMENCED IN 1999
• ❖ COST OF EXPLORATION TO DATE AUS\$5.5 MILLION

❖ GEOLOGICAL ENVIRONMENT/STRATIGRAPHY

• ◆ Kalahari (Sand) Formation
• ◆ Karoo Supergroup
• Volcanics
• ♦ Sandstones
• Damaran Formation
• ◆ Abenab Carbonates
• Nosib Quartzite
• Grootfontein Complex
• Early Granites

Work completed to date

❖ Loam Sampling

over 2,500 samples taken

• ❖ Drilling
• geophysical targets and
• to sample the base of the Kalahari

over 30,100 metres drilled

❖ Airborne and ground magnetics

1,465 $km^2$ covered

❖ Ground gravity

over 325 km² covered

• ❖ Landsat and airphoto interpretation
• ❖ Geomorphological interpretation

Loam Sampling

10km

Drilling

Aeromagnetic Surveying

Gravity Surveying

Landsat Imagery

Geomorphological Interpretation

• Diamond discovered in surface loam sampling
• Kimberlite
• Possible Permian drainage trajectory hija.
• Possible Permian primary diamond source provenance Millian
• Cluster of high priority garnets ₩9
• Permo-Carboniferous fluvioglacial gravels かね きんじょう
• Structural hinge
• Geomorphic hinge
• Major fault
  • Mount Burgess EPL's 100%
  • Tsumkwe JV EPL's (MTB 90% / Kimberlite Resources 10%)
  • Karoo Sequence volcanics / sediments
  • Damaran Sequence carbonates / quartzites
  • Grootfontein Metamorphic Complex
  • Granitoid

Results achieved to date

• ❖ Discovery of a significant number of G9 and G10 garnets
• * Discovery of a total of 7 macrodiamonds
• (4 found by Mount Burgess Mining)
• ❖ Discovery of 2 kimberlites and 1 para kimberlite

Tsumkwe Loams Garnet Analysis

Gura Kimberlite

Gravity

Magnetics

Area 20 Gravity and Magnetics

Magnetics

Area 21 Gravity and Magnetics

Magnetics

Kihabe Soil Geochemical Anomaly

Kihabe Drill Section 1

$25m$

Kihabe Drill Section 3 1.6km NE of Drill Section 1