XREF LIMITED — Investor Presentation 2011

Jan 30, 2011

KING SOLOMON Exploring for world class Gold and Copper mines in Inner Mongolia (China)

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Disclaimer

This Corporate Update ( “ Update ” ) is not a disclosure document, nor does it constitute the provision of financial advice or a recommendation to buy or sell shares. The Update was prepared from information available at the time of preparation.

Neither King Solomon Mines Limited ( “ King Solomon ” ), its related bodies corporate, officers, employees or advisors makes or gives any representation, warranty or guarantee in relation to the Update, whether orally, in writing or in any form whatsoever, ( “ Information ” ) to the Recipient. The Information is provided expressly on the basis that the Recipient will carry out its independent inquiries into the information, and seek appropriate financial advice. King Solomon reserves the right to update, amend or supplement the information at any time in its absolute discretion, without incurring any obligation to do so.

The Update contains certain forecasts and forward-looking information, including information about possible or assumed future performance, exploration results, resources or potential growth of King Solomon, 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 King Solomon. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements, depending on a variety of factors.

Information on mineralisation was compiled by A B Bell, BSc, F AusIMM(CP), a Competent Person (under the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves), who has relevant experience with such mineralisation and has consented to its inclusion.

Further information about King Solomon is available at www.kingsolomonmines.com.

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King Solomon History

1999 La Fu starts gold mine in Inner Mongolia 2000 La Fu & Bruce Bell form partnership 2002 Stephen McPhail joins partnership 2003 King Solomon founded 2007 John Quinn joins board 2007 IPO

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World class Gold de osits p

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Oyu Tolgoi 12M oz Muruntau 140M Oz Vasikosoye 13M oz Kalmykor 25M oz Kumtor 14M oz

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Greater Hinggan-Mongolian Fold Belt

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Ivanhoe Mines →
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Strategy

• Under explored major fold belt

• Copper and Gold focus

• World Class targets

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John Quinn (Chairman)

• CEO Newcrest 1987-1996

– Cadia – 50 million oz Gold + Copper

” – – Telfer “ I series 800,000 oz Gold p.a annum

- Cadia set to be one of world’s largest gold mines - Telfer Top 10 Aust. gold mine

LaFu (China Relationships)

• Ethnic Mongolian

• Commodities trader

• Prominent businessman

• Entrepreneur

• Former Government official

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Bruce Bell (Exploration Management)

Delta Gold ( Co-Founder / Executive / Director )

• Granny Smith (Top 10 Aust. Gold deposit)

• ’

• – IPO d 1984 with Mkt. Cap. $6M

( 25c/share )

• Bruce left 1989: Mkt. Cap. $344M ( $2.50/share )

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Principal Projects

Bu Dun Hua

Porphyry Copper

Sonid North (Mud-house) Gold

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Inner Mongolia

• Under-explored

Area: 1.28M sq km Pop: 21M Capital: Hohhot (>1M)

• Exciting tectonic position

• Opportunities

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Bu Dun Hua Project

Porphyry Cu-Mo system Epithermal Silver/Gold prospects

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Porphyry Copper Deposits

Large-scale: 10Mt – 10,000Mt Varying proportions of: Cu ± Mo ± Au Also: Re, Ag, Pb, Zn, Pd Te, Se Bi Supply: 75% world’s Cu 50% world’s Mo 20% world’s Au Limited to: Pacific Rim Philippines – Indonesian arc Central Asian arc

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Schematic porphyry Cu section

Au/Ag/As/Sb Silica Sericite Pb/Zn Pb/Zn Chlorite-pyrite Chlorite-pyrite Cu ± Mo ± Au Biotite-Kspar

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Whitehorse porphyry discovery

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Whitehorse
porphyry
Silica Cap
Lao Ping Tong
drillholes
Minimum extent of
hydrothermal alteration
and intermittent
0 2km
Cu-Pb-Zn-As-Ag-Au
anomalism
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Whitehorse Porphyry Schematic

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Existing drillholes
Phyllic zone
Cu-Mo-Pb-Zn
anomalous
Pb-Zn-As
I
Ag vein
II
Hydrothermal
breccia Pb-Zn-As
I
Felsic
Potassic zone
volcanics
(Cu-Mo target)
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High Resolution Magnetics
Whitehorse
Ghenghis
Whitehorse
Kublai Extended
Northern Deep
Eastern Deep
Western
Khan
Royal
0 500m
Mongol
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North - South Section through Whitehorse Magnetics

S

Existing Planned drillhole drillhole

N

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Royal Mongol

BDH Deeps

Whitehorse porphyry

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Cf. Cadia Valley, NSW

Ridgeway

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Resource Base 44 Moz Au Big Cadia 8 Mt Cu

Cadia Quarry

Cadia Hill Pit

Little Cadia

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Cadia East 2km

0

Checking the boxes

Porphyry Cu pre-requisites

BDH

Appropriate tectonic setting Yes Appropriate intrusive stock Yes Appropriate alteration types Yes Appropriate scale Yes Appropriate metals Yes Appropriate geological structures Yes

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– BDH current plan

Ghenghis Kublai Whitehorse Whitehorse Extended Western Khan Lao Ping Tong Royal Mongol 2 diamond drillholes for 2,000m (commencing early March) 25 RC/diamond drillholes for 5,000m (commencing late March)

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Sonid District Projects

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Sonid North Project Mud-house Gold prospect

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Mud-house Gold prospect

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– Mud-house first scout RC section

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– Mud-house second scout RC section

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Mud-house Prospect Exploration Model

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Proximity to Marmot Ridge

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Mud-house Checklist

• District-scale low-angle structures

• Rhyolite plugs

• Intrusive porphyries

• Anomalous Au intercepts tens to

scores of metres magnitude

• Au mineralised quartz veins

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– Mud-house Current Plan

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High resolution Magnetic Survey (late Feb- early March) 25 RC/diamond drillholes for 4,600m (commencing mid-March)

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Capital Structure

Shares

Options Cash (31 Dec 10) Mkt. Capitalisation 12 month trading

104.4 million

9.4 million $1.2 million $8.3 million ( 8c ) 3c – 12c

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Next Ste s -Plan p

Bu Dun Hua (Copper)

March - Drill Whitehorse Deeps March - 1[st] round drilling

• Genghis

• Kubilai

• Western Khan

• Royal Mongol

Mud-House (Gold)

March - Magnetic survey

• Drill Mud-house

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King Solomon

• Active explorer

• • Strong team

Highly prospective regional setting Strong exploration prospects Exciting targets at BDH & Mud-house Aggressive exploration plan for 2011

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