Gold 2013 Sydney - White Rock Minerals ASX:WRM

The Gold Investment Symposium October 2013

Gold & Silver in Eastern Australia

White Rock Minerals Ltd ASX:WRM October 2013 2

Disclaimer The presentation (in this projected form and as verbally presented) (“Presentation”) has been prepared by White Rock Minerals Limited in relation to the pro-rata non-renounceable offer of new White Rock ordinary shares under section 708AA of the Corporations Act 2001 (Cth). This presentation is provided on the basis that none of the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Presentation and nothing contained in the Presentation is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company herby excludes all warranties that can be excluded by law.

The Presentation contains prospective financial material which is predictive in nature and may be affected by inaccurate assumptions or by known or unknown risks and uncertainties and may differ materially from results ultimately achieved.

This Presentation does not constitute an offer for sale, or a solicitation of an offer to purchase, any securities in any jurisdiction in which it would be unlawful. The Presentation contains “forward-looking statements”. All statements other than those of historical facts included in the Presentation are forward-looking statements. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement”.

The Presentation contains general background information about the Company and its activities current as at the date of this presentation, October 2013. The information in this Presentation is in summary form only and does not contain all the information necessary to fully evaluate any transaction or investment. It should be read in conjunction with the Company’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au and other publicly available information on the Company available at www.whiterockminerals.com.au.

This Presentation is not a prospectus, disclosure document or other offering document. It is for information purposes only and does not constitute an offer, invitation or recommendation to subscribe for or purchase any security and does not form the basis of any contract or commitment. The Presentation, the entitlement offer and the contracts formed on acceptance of the relevant applications are governed by the laws applicable in Victoria, Australia. Each person who applies for new shares submits to the jurisdiction of the courts of Victoria, Australia.

All persons should consider seeking appropriate professional advice in reviewing the Presentation and the Company.

The information in this presentation that relates to Exploration Results or Mineral Resources is based on information compiled by Mr Rohan Worland who is a Member of the Australian Institute of Geoscientists and is a full time employee of White Rock Minerals Ltd. Mr Worland 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’. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether further exploration will result in the determination of a Mineral Resource Mr Worland consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The gold and silver Resource figures for Strauss, Kylo, Lady Hampden, Silver King, White Rock North and Red Rock have been taken from resource estimates prepared by Ravensgate Minerals Industry Consultants on behalf of White Rock Minerals Ltd and authored by Mr Don Maclean who is a professional geologist with more than 10 years’ experience in resource estimation. Mr Maclean is a Competent Person as defined by the JORC Code and consents to the inclusion in this presentation of references to this resource estimate in the form and context in which they appear.

The gold and silver Resource figures for White Rock and Guy Bell have been taken from the resource estimate report dated 1 October 2008 prepared by Mining One Pty Ltd on behalf of Rex Minerals Ltd and authored by Dr Chris Gee who is a professional geologist with more than 10 years’ experience in resource estimation. Dr Gee is a Competent Person as defined by the JORC Code and consents to the inclusion in this presentation of references to this resource estimate in the form and context in which they appear.

We have estimated the resources reported in this Presentation in accordance with the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves 2004 Edition ("JORC Code"), which governs such disclosure by companies listed on the Australian Securities Exchange. The JORC Code differs in several significant respects from Industry Guide 7 of the U.S. Securities and Exchange Commission that governs disclosures of mineral reserves in registration statements and reports filed with the SEC. In particular, Industry Guide 7 does not recognize classifications other than proven and probable reserves, and the SEC does not permit mining companies to disclose mineral resources in SEC filings.

http://www.asx.com.au/

http://www.whiterockminerals.com.au/


Mt Carrington Project…. The best place to find a new mine…..

….is under an old one.


WRM Corporate Overview

Mt Carrington Project

Executive Summary Resources Exploration Development timeline

Investment Case


Issued Capital: 184M shares, 9.9M options Cash: A$4.6M #, no debt

Market Cap: A$7M @$0.04 / share

Mineral Resources: 23.5M oz Ag & 0.34M oz Au

Enterprise Value: A$2.4M

EV / Resource oz: A$3/oz AuEq*

Board & Management Brian Phillips – Non-Exec Chairman

Geoff Lowe – Managing Director

Steve Olsen – Non-Exec Director

Peter Lester – Non-Exec Director

Andrew Dart – Company Secretary / CFO

Rohan Worland – Exploration Manager

Major Shareholders Avalon Ventures Corp 43.47%

Greenstone Property 9.81%

Silverstone Investment 3.68%

Board & Management 2.60%

Grand South Development 1.65%

Top 20: 69%

*AuEq and AgEq calculated at 65:1 Ag : Au using metal prices of Au @ US$1,300 per oz and Ag @ US$20 per oz and does not account for mining or metallurgical recoveries; # Cash balance at 9 September following closure of Rights Issue

Corporate Overview ASX : WRM


Mt Carrington Executive Summary & Investment Case

Favourable Location: 350km south of Brisbane 100km to Sydney – Brisbane railhead

Quality Shallow Resources: 23.5Moz silver & 0.34Moz gold Granted Leases with infrastructure

Exploration Upside: Modern first mover, 70+ targets defined Commodities in demand: Au - Ag - Cu

Positive Mining Scoping Study: Staged open pits with projected modest capex and operating costs; potential to enhance value in FS

Feasibility Studies and Permitting: Resource upgrade drilling; environmental, infrastructure, water, power and marketing studies

On track for commissioning and production in 2015/16

White Rock Minerals Ltd ASX:WRM October 2013 7 Resources reported in accordance with the JORC (2004) code. See Appendix for full Resource tables.

Mt Carrington Ag – Au Resources

Gold: Strauss, Kylo, Red Rock, Guy Bell deposits

0.34Moz Au @ 1.3g/t Au (0.5g/t - 0.7g/t cut)

45% Indicated / 55% Inferred

Silver: Lady Hampden, White Rock, White Rock

North, Silver King deposits

23.5Moz Ag @ 58g/t Ag (25 g/t cut)

19% Indicated / 81% Inferred

Eight deposits - all from surface

Limited drilling to upgrade Resources

New Resource at Red Rock in July 13:

54koz Au from surface

Option on copper discoveries….


-

400

800

1,200

1,600

2,000

-

100,000

200,000

300,000

400,000

1991 2003 2009 2012 2013

Gold Price (US$)

Gold Resource oz

Gold

Gold Price ($US) Gold Resources (oz)

-

10.00

20.00

30.00

40.00

50.00

-

10,000,000

20,000,000

30,000,000

1991 2003 2009 2012 2013

Silver Price (US$)

Silver Resource oz

Silver

Silver Price ($US) Silver Resources (oz)

Mt Carrington silver – gold Resources growth

130% increase in gold Resource

from 2003 to 2013

400% increase in silver Resource

from 2003 to 2013


Lismore 100km > < Tenterfield 50km

Mt Carrington Infrastructure

Key Infrastructure in place to support future mining and de-risk development

Granted Mining Leases

1.5Mt Tailings Dam

750ML Freshwater Dam

Site Office

Water treatment plant

Access to State grid power

Reduces development timeframe and capital cost

White Rock Minerals Ltd ASX:WRM October 2013

Mt Carrington Exploration: ‘Drake Volcanic Caldera’

10

Drake Caldera

Proof of Concept

Global analogies

• Round Mtn (10Moz gold)

• Creede (80Moz silver)

Epithermal style Au - Ag

Intrusive / Porphyry style Cu - Au

Limited work since mine closure

WRM Target Generation

Modern first mover advantage

70 new targets within 20km of central leases

2013 Exploration Focus

Central Leases: Au – Ag – Cu

Red Rock: Au – Ag

White Rock: Ag – Au


Lady Hampden

8.1Moz Ag, 64koz Au

Silver King

1.2Moz Ag

Strauss

113koz Au

Guy Bell

13koz Au

Kylo

95koz Au

All Nations Cu

Carrington Cu

Gladstone Cu

1km

11

Exploration: Central Mining Leases

Strong opportunity to define new shallow Au-Ag Resources

Resource extensions

30 new targets

Potential for new copper discoveries

95% of previous drilling <100m depth

Drilling in progress


Exploration: Red Rock Leases

Old Au – Cu mining centre 15km from central ML’s

Zoned epithermal Au-Ag stockwork with high grade veins

Several priority targets defined for drilling in 2012

Maiden Resource defined on first target in 2013

Deadman’s Zone: 54,000oz Au at surface, open along strike and down dip

Further drilling in progress


Exploration: White Rock Leases

Old Ag mining centre 6km from central ML’s

Inferred Resource 8.2Moz Ag

Resource upgrade drilling 2013

New Au zone discovered on SW margin of Ag Resource

Potential to add significant value

Drilling in progress to investigate Au zone


Exploration: The Copper option

14

Opportunity to define shallow supergene and deeper primary Cu Resources

Porphyry Cu-Au concept untested by previous explorers

Large shallow supergene Cu blankets with underlying ‘feeder’ structures identified

Evaluation in progress for 2014 drilling

Leverage on future flotation plant

1km

Carrington Cu

Gladstone Cu

All Nations Cu

Guy Bell

13koz Au

Silver King

1.2Moz Ag

Lady Hampden

8.1Moz Ag, 64koz Au

Strauss

113koz Au

Kylo

95koz Au

Ag

Au

Cu


Exploration: The Copper option

15

Gladstone Prospect

45m @ 0.88% Cu from 40m (supergene)

9m @ 2.06% Cu from 104m (primary)

All Nations Prospect

18.7m @ 5.9% Cu from 52.25m (primary, not true width)

Gold to 18g/t in primary quartz-sulphide veins

Deeper porphyry Cu-Au concept unexplored

White Rock Minerals Ltd ASX:WRM October 2013 16 The technical and economic assumptions used in calculating the scoping study base case of the project are detailed in the WRM release to the ASX of 31 July 2012

Mt Carrington Development Summary

2012 Scoping Study

Study demonstrated potential for cost-competitive open pit operation

Projected low capital and opex with

conventional flotation flow sheet

Upside: increases in Au and Ag prices; increased Resource base; lower costs in FS optimisation

2013 /14 Prefeasibility Study Focus on de-risking flow sheet,

baseline studies, permitting, Resource upgrade drilling and metallurgical testwork

DFS from Q2 2014


Mt Carrington Development Timeline

Development Studies

Exploration

Project Evaluations & Opportunities

CY14 CY15 CY16+

Red Rock

White Rock

Central Leases

Near Mine Brownfields

Feasibility & Permitting

As appropriate

Ongoing

Production Construction

Feasibility & Permitting

Feasibility & Permitting Resource Drilling

Construction Drilling Production

White Rock Minerals Ltd ASX:WRM October 2013 18 *AuEq and AgEq calculated at 65:1 Ag : Au using metal prices of Au @ US$1,300 per oz and Ag @ US$20 per oz and does not account for mining or metallurgical recoveries

Investment Case – Why invest in White Rock Minerals?

Exploration - Modern first mover advantage in Drake Caldera; numerous near mine Gold – Silver targets and strong leverage on Copper

100% Ownership and key focus on Mt Carrington; no funds bleeding to second tier projects, no JV dilution

Location – NSW: Stable political, social and environmental jurisdiction; clear pathway for development permitting

Value - Compelling value relative to Australian peers – EV / AuEq oz is $3

Resources - Robust 700,000 AuEq* in shallow deposits with clear growth upside

Management Team – Right mix of industry and corporate experience to execute strategy

Infrastructure - Significant mining assets in place, de-risks development & lowers capex

Development Studies – Feasibility Studies progressing at a rate in line with cash reserves


PO Box 195 Ballarat Vic 3353 Ph. 03 5331 4644 Email: [email protected]

Website: www.whiterockminerals.com.au

mailto:[email protected]


Appendix


Board and Management

Mr Brian Phillips – Non Executive Chairman AWASM-Mining (CEng.), FAusIMM, MIMMM Brian Phillips is a mining engineer with over 40 years experience in the mining industry. Mr Phillips joined MPI Mines Limited in 1992 and was Managing Director of that company from October 2002 until December 2004, followed by two years as Chairman of Leviathan Resources Limited. He was a Non Executive Director of Perseverance Corporation from January 2007 until February 2008, and was a Non Executive Director of Tawana Resources NL until July 2009 and Rex Minerals Limited until June 2010. He is a currently a Non Executive Director of Panoramic Resources Limited and Chairman of Indophil Resources NL. Mr Geoffrey Lowe – Managing Director B.Sc, MAusIMM Geoffrey Lowe is a geologist with over 26 years experience in greenfields and near mine exploration for gold and copper in Australia. His career includes 18 years with the Normandy Mining Group and Newmont Australia Ltd where he held geological and senior management positions in Queensland, Northern Territory and South Australia, followed by two years with Leviathan Resources Limited and Perseverance Corporation Limited. Mr Lowe joined Rex Minerals Limited as Exploration Manager in August 2007, establishing and managing the exploration portfolio and programs up to June 2010. Mr Lowe led the exploration team responsible for the discovery and delineation of the Hillside copper-gold deposit in South Australia, and was appointed Executive Director – Exploration of Rex in February 2010. In 2008 he introduced the Mt Carrington project into the Rex portfolio, and managed the re-validation of the current Mineral Resources and generation of current exploration targets. Mr Lowe resigned from Rex in June 2010 to take up his appointment with White Rock. Mr Steven Olsen – Non Executive Director B.Sc (Hons), M.Sc. (MinEx), Grad. Dip (F&I), MAusIMM Steven Olsen has over 21 years experience in the resources industry with a background of 14 years working as a mine geologist and exploration geologist, predominantly in Western Australia and Canada, on nickel and gold deposits. Mr Olsen has had continued exploration success for both nickel and gold mineralisation throughout his career. Mr Olsen’s qualifications include a B.Sc. (Hons) University of Melbourne, a Masters in Mineral Exploration from Queens University, Ontario and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia. He is currently Executive Director of Rex Minerals Limited responsible for business development. Mr Peter Lester – Non Executive Director B.E (Mining), MAusIMM, MAICD Mr Lester has over 35 years’ experience in the mining industry, and has held senior executive positions with North Ltd, Newcrest Mining Limited, Oxiana Limited and Citadel Resource Group Limited. Mr Lester’s experience covers operations, project and business development and general corporate activities. Mr Lester is a non-executive director of Chesser Resources Limited, Toro Energy Ltd, Castlemaine Goldfields Ltd, Accessio Resources Pty Ltd and Nord Gold NV. Mr Andrew Dart – Company Secretary & Chief Financial Officer CPA, B. Comm Andrew Dart is a CPA and has 10 years experience in accounting and financial management. Mr Dart spent 9 years with Central Highlands Region Water Corporation before joining Rex Minerals in 2012 as Senior Accountant. Mt Dart joined White Rock Minerals as CFO in April 2013. Mr Rohan Worland – Exploration Manager BSc ( Hons), Grad. Dip (F&I), MAIG Rohan Worland is a geologist with 21 years exploration experience including 14 years with the Normandy and Newmont groups. Mr Worland recently held the roles of Exploration Manager with WCP Resources Limited, Buka Gold Limited and Rex Minerals Limited. He has extensive experience in a variety of gold deposit styles in Australia, North and South America and New Zealand.

21


Central Lease Resources – gold / silver

22


White Rock Resources - silver


Red Rock Resources – gold / silver

24


Mineral Resource Summary

25

Resources reported in accordance with the JORC (2004) code

MT CARRINGTON JORC (2004) MINERAL RESOURCES – JULY 2013 Silver Dominant Resources

Resource Category

Deposit Tonnes Gold grade

(g/t) Gold ounces

Silver grade (g/t)

Silver ounces

Indicated Lady Hampden 1,840,000 0.6 37,000 69 4,056,000

Inferred

Lady Hampden 2,470,000 0.3 27,000 51 4,023,000 White Rock 4,080,000 - - 62 8,194,000

White Rock North 3,180,000 - - 52 5,314,000 Silver King 640,000 - - 59 1,218,000 Sub-Total 10,370,000 0.1 27,000 56 18,749,000

Total

Lady Hampden 4,310,000 0.5 64,000 58 8,079,000 White Rock 4,080,000 - - 62 8,194,000

White Rock North 3,180,000 - - 52 5,314,000 Silver King 640,000 - - 59 1,218,000

Total 12,210,000 0.2 64,000 58 22,805,000 Gold Dominant Resources

Resource Category

Deposit Tonnes Gold grade

(g/t) Gold ounces

Silver grade (g/t)

Silver ounces

Indicated Strauss 1,240,000 1.4 57,000 3.8 153,000

Kylo 1,590,000 1.2 59,000 2.6 133,000 Sub-Total 2,830,000 1.3 116,000 3.1 286,000

Inferred

Strauss 1,260,000 1.4 56,000 2.6 104,000 Kylo 760,000 1.5 35,000 1.8 43,000

Red Rock 1,630,000 1.0 54,000 3.5 182,000 Guy Bell 160,000 2.5 13,000 4.9 24,000

Sub-Total 3,810,000 1.3 158,000 2.9 353,000

Total

Strauss 2,500,000 1.4 113,000 3.2 257,000 Kylo 2,350,000 1.3 95,000 2.3 176,000

Red Rock 1,630,000 1.0 54,000 3.5 182,000 Guy Bell 160,000 2.5 13,000 4.9 24,000

Total 6,640,000 1.3 275,000 3.0 639,000 Total Resources

Category Tonnes Gold ounces Silver ounces

Indicated 4,670,000 153,000 4,342,000 Inferred 14,180,000 185,000 19,102,000

Total 18,850,000 338,000 23,444,000


2013-14 Strategy

26

Exploration and Resource Expansion

Drilling to expand and upgrade the 0.7Moz AuEq Resource base

Drill test highest priority near-mine exploration targets from Q3 2013 Red Rock targets adjacent to the new Deadman’s Inferred Resource Q3 2013 White Rock deposit gold zone scoping Q4 2013 Resource upgrade drilling Q2 2014

Project Feasibility

Advance development programs to achieve PFS level confidence in 2014

Metallurgical test work to underpin optimal flow sheet design - ongoing Environmental baseline studies in support of EIS - Q3 2013 Desk top engineering studies of infrastructure, water, power and transport - Q3/4 2013

Statutory permitting and approvals

NSW Conceptual Project Development Plan submission Q4 2013 NSW Director Generals Requirements Q1 2014 NSW Environmental Impact Statement submission Q2 2014

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