Building a multi-project coal mining house in

Southern Africa

Corporate Presentation – April 2011

For

per

sona

l use

onl

y

AttributionAttribution

Resource Statement. The information in this report that relates to Mineral

Resources is based on a resource estimate completed by an independent

consultant, Gemecs(Pty) Ltd, whose professional employees are geologists

highly experienced in the South African Mining Industry and of sufficient

experience which is relevant to the style of mineralisation and type of

deposits under consideration and to the activity which they are undertaking

to qualify as a Competent Persons as defined by the 2004 Edition of the

2

to qualify as a Competent Persons as defined by the 2004 Edition of the

‘Australasian Code of Reporting of Exploration Results, Mineral Resources

and the Ore reserves

For

per

sona

l use

onl

y

OverviewOverview

ASX-listed: $18.1m market cap at 20c

Management 18%, Vendors 28% (inc mgmt)

$11.3 m cash/zero debt post issue costs

Flagship asset: 74% stake in Moabsvelden

Thermal Coal Project in South Africa’s key coal

3

Thermal Coal Project in South Africa’s key coal

region of Witbank

Option to acquire 74% stake in the Vogelfontein

Coal Project in South Africa’s Highveld-Ermelo

coal fields

Highly experienced BoardFor

per

sona

l use

onl

y

Key ObjectivesKey Objectives

Start construction of Moabsvelden in Q4 2012

First production in Q3 2013, ramping up to 3Mtpa ROM

Assess viability of Vogelfontein with view to it being the second project

4

Use cashflow, industry expertise and local knowledge to acquire and develop further Southern African coal projects

Develop substantial Southern African coal mining house with diversified production sources with emphasis on return on capital and shareholder growthFor

per

sona

l use

onl

y

Moabsvelden: The foundation stone Moabsvelden: The foundation stone

55Mt JORC thermal coal resource

Feasibility study to be completed

in 2011

Mine construction start 2012; first

production 2013

Production target 3Mtpa; Project

5

Production target 3Mtpa; Project

life of >10 years

Low cost, open pit operation;

Average strip ratio <2:1

First step; drilling program

planned to upgrade resource to

measured category

For

per

sona

l use

onl

y

Moabsvelden: Ready to go Moabsvelden: Ready to go

Adjacent to existing power, water and rail infrastructure

Export quality component estimated to be 40-60% of total resource

Simple, modular plant required

Potential for toll treatment at several nearby wash plants

Within 50km of South Africa’s major coal-fired power stations

Adjacent to the lucrative inland markets centered on Johannesburg

6

Adjacent to the lucrative inland markets centered on Johannesburg

For

per

sona

l use

onl

y

Moabsvelden: A very desirable residence Moabsvelden: A very desirable residence

Leeuwpan (Exxaro) 3mtpa product metallurgical &

thermal

started 1992

Stuart (Stuart Coal) 3 mtpa product

started 1995

Vanggatfontein (Keaton

7

Vanggatfontein (Keaton Energy)

3mtpa product metallurgical &

thermal

under construction

Rietkuil (Sable Mining) 3 mtpa product metallurgical & thermal

under construction

Kangala (UNV) to be constructed

Vlakvarkfontein (CCC) 1.7mtpa domestic

For

per

sona

l use

onl

y

Moabsvelden: A low-cost path to cashflowMoabsvelden: A low-cost path to cashflow

Low-cost development; Engineering and design still to be done, indicative capital cost to production of A$25m for a 3mtpa wash plant and infrastructure

Potential for 100% development funding by off-take partners or BOOT partners

Low strip ratio, standard wash plant and potential for sale of ROM

8

Low strip ratio, standard wash plant and potential for sale of ROM coal to generate early cashflow

For

per

sona

l use

onl

y

Moabsvelden: Indicative Development ScheduleMoabsvelden: Indicative Development Schedule

EVENT FY2011 FY2012 FY2013

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Definitive drilling, analyses and modelling

Social & Labour Plan

Mining right application process

9

EMP/EIA

Feasibility Study

Off-take discussions

Infrastructure access discussions

Fabrication / Construction

Production ramp up

For

per

sona

l use

onl

y

Vogelfontein: The next step to growth Vogelfontein: The next step to growth

Xceed has signed binding Heads of Agreement to acquire 74% of Vogelfontein on a ROM/t basis

Subject to a Prospecting Right Application

Located in the word-class South African coal field of Highveld-Ermelo, adjacent to Xstrata’s Spitzkop colliery

10

For

per

sona

l use

onl

y

VogelfonteinVogelfontein

Rail line and siding on property and connected to the nearby dedicated coal rail line to Richards Bay Coal Terminal

Historical drilling (2004) confirms existence of high value CL and BL seams on this large property

Short exploratory drilling program planned to confirm presence of near-surface coal

Subject to drilling results, Xceed anticipates binding deal on terms similar to

11

Subject to drilling results, Xceed anticipates binding deal on terms similar to Moabsvelden

Feasibility study scheduled for 2012/construction in 2013

For

per

sona

l use

onl

y

Ready-made MarketsReady-made Markets

Robust long-term demand for thermal coal

Moabsvelden coal suitable for supply to export, inland and power station markets

Coal accounts for 90 per cent of South Africa’s electricity generation

South Africa facing rapidly growing power capacity deficit from 2016 onwards

12

onwards

South African coal exports to China and India increasing by the year

For

per

sona

l use

onl

y

BoardBoard

Non-Executive Chairman: Patrick O’Connor

Currently Chairman of Water Corp and Deputy Chairman of Perilya Limited. Formerly MD of

Macraes Mining and CEO of Oceana Gold Limited, Patrick has considerable mining experience.

Managing Director: Ian Culbert

Formerly MD of Tritton Resources Limited and Lafayette Mining Limited, Ian has 20 years

experience in the resources industry, including the funding, planning, building and operation of

mines and exploration projects in Australia, Asia and Africa.

Finance Director: Stephen Belben

13

Finance Director: Stephen Belben

Formerly the national partner in charge of Ernst & Young’s Mineral & Energy Industry Group,

Stephen has 25 years of experience in the resources industry, including having been executive

Director of public companies with operating mines in Africa and Asia.

Xceed Directors have extensive contacts in South African coal industry at an operating level

Discussions already held with senior industry executives who have expressed enthusiasm for joining Xceed. Formal recruitment of these people will take place as the need for their skills emerges as part of Xceed’s development and growth

For

per

sona

l use

onl

y

Creating Shareholder Value Through Project DevelopmentCreating Shareholder Value Through Project Development

Moabsvelden today

EV per tonne: $0.17 (based on $18.1M market cap)

Status: Awaiting mining licence, feasibility study 2011

Kangala today

Valued per tonne: $0.716 (Pursuit Capital Feb 2011)

Status: Mining licence awarded, feasibility 2011)

Vlakvarkfontein today

Valued per tonne: $4.90 (Old Park Lane Mar 2011)Valued per tonne: $4.90 (Old Park Lane Mar 2011)

Status: In production

Moabsvelden’s potential value

Current EV: $6.8m

After Mining Licence awarded (ie Kangala value/t): $30m

In production (ie Vlakvarkfontein value/t): $200m

Comparative valuations highlight immense potential to create shareholder value as Moabsvelden develops and moves into production

Substantial potential to repeat this value-adding exercise by acquiring and developing other resources in the region

14

For

per

sona

l use

onl

y

Building a multi-project coal mining house in

Southern Africa

Corporate Presentation – March 2011

15

For

per

sona

l use

onl

y