Cape Title heading Town here Indaba 2012 1
Disclaimer The purpose of this presentation is to provide general information about OreCorp Limited (Company). It is not recommended that any person makes any investment decision in relation to the Company based solely on this presentation. This presentation does not necessarily contain all information which may be material to the making of a decision in relation to the Company. Any investor should make its own independent assessment and determination as to the Company s prospects prior to making any investment decision, and should not rely on the information in this presentation for that purpose. This presentation does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold securities in the Company. The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future. This presentation contains certain statements which may constitute forward-looking statements. Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward-looking statements. No representation or warranty, express or implied, is made by the Company that the matters stated in this presentation will be achieved or prove to be correct. The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. Recipients of this document should carefully consider whether the securities issued by the Company are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. Except for statutory liability which cannot be excluded, the Company, its officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information. 2
Company Snapshot A dynamic and emerging resource company Focussed on evaluating corporate and resource project opportunities Gold and uranium projects in Mauritania with encouraging targets Ethiopian projects covering encouraging gold and base metal targets Highly credentialed and experienced Board ~A$9.0 million in cash and no debt 3
Board Craig Williams Chairman Former President & CEO of Equinox Minerals Highly successful African focused copper company Lumwana in Zambia Equinox was acquired by Barrick Gold for $7 billion Matthew Yates CEO &Managing Director Former Joint MD of Mantra Resources and MD of OmegaCorp Has overseen the growth & development of African uranium companies with a combined market cap >$1.2 billion Founding director of Fusion Resources Ltd acquired by Paladin in 2009 George Bennett Non-Executive Director Founding director & CEO, current executive director of MDM Engineering Ltd, resident in RSA Former CEO of Shanta Gold Ltd 20 years finance & Extensive AIM and JSE experience Alastair Morrison Non Executive Director Former Exploration Manager, East African Gold Mines, 7 years in Africa Exploration & development of North Mara gold project in Tanzania >5m ounces Past 8 years as analyst with a private resource-oriented investment fund 4
Corporate Details Company incorporated in 2010 Unlisted Australian public company Funding completed in October 2010 66.2 million shares on issue 3.1 million options (30 cents) ~ A$9.0 million cash ~ 14c per share cash backing Capitalisation at October 2010 issue price of A$16.5 million 5
Project Locations 6
Mauritania Project Locations Diverse and evolving modern mining industry Majors e.g. Xstrata, Kinross Mid-Cap producers e.g. First Quantum Mid-Cap explorers e.g. Atacama Minerals - former Red Back management team Suite of junior explorers 7
Mauritania Elephant Country Tasiast Gold Mine (Kinross) > 21 million oz and growing Orecorp Activities Granted Six gold-copper licences Four uranium licences Pending Four gold-copper applications Two phosphate applications Field work commenced First 2000 samples received encouraging results & further assays pending 8
Akjoujt South Project Six granted licences covering 2,550 km 2 30 km south of First Quantum s Guelb Moghrein copper-gold mine Significant structural, geochemical and geological anomalism 9
Significant Targets Identified Significant mapped targets, combined >14 km in strike length Targets up to 7 km long Silica +/- carbonate +/- pyrite +/- sericite alteration and brecciation ~6,000 samples collected Initial results very encouraging 10
Bir Moghrein Uranium Project Potential for shallow drainage related uranium Active international explorers e.g.: Aura Energy, maiden JORC Resource of 50 million pounds, @ 330ppm U 3 O 8 Forte Energy, 14.9 million pounds U 3 O 8 Underexplored, uninhabited, flat terrain, simple exploration 11
Bir Moghrein Significant Potential Four prospecting licences covering 1,810 km 2 Project area contains eight radiometric uranium anomalies 6 11 km in length Visible uranium mineralisation within licences - assays pending Observed mineralisation is within 5m of surface Aerially extensive mineralisation 12
Ethiopia Untapped Potential Licences located in the Arabian Nubian Shield Three granted and two pending (Baddessa & Dega Burka) Licences covering ~1,300 km 2 Proximal to known deposits e.g. Nyota Minerals Tulu Kapi Favourable geology, geochemistry and structure Fieldwork commenced 13
Yubdo and Ursa Immediately south, east and southwest of Tulu Kapi (1.5m oz Au @ 2.8 g/t) Numerous gold and base metal occurrences Six defined target areas within 401 km 2 Reconnaissance geological mapping and sampling completed Assays pending 14
Yubdo and Ursa Geology and Targets 15
Werri River ~70 km east of Tigray Resources Harvest Project 357 km 2 of interpreted extensions of Eritrean gold-rich VMS belts Several recorded gold occurrences Reconnaissance geological mapping and sampling completed Assays pending 16
Werri River Geology and Targets 17
Baddessa & Dega Burka Both applications proximal to Midroc s Lega Dembi Mine: 2.5m oz Au @ 3.7 g/t Midroc s adjacent satellite East Sakaro: 0.65m oz Au @ 9.8 g/t Located in the premier gold belt of Ethiopia Numerous artisanal workings reported 18
Dega Burka The application covers a significant portion of a large gold geochemical anomaly North-south structural corridor with epithermal geochemical signature Sympathetic Ta-Nb-Be-Sn- W-Bi anomalism indicative of a shallow intrusive complex Significant artisanal workings reported 19
Baddessa 20
Conclusions Highly credentialed Board Demonstrated ability to deliver superior shareholder returns $9m in cash & no debt Evolving & interesting exploration portfolio in Africa, with good news flow Actively assessing corporate & resource opportunities Aiming to IPO in 2012 21
Contact Details Australia Head Office: Level 1, 230 Rokeby Road, Subiaco, Perth, Western Australia 6008 PO Box 2152, Subiaco, WA 6904 Ph: +61 8 9381 9997 Fax: +61 8 9381 9996 Craig Williams Chairman Mobile: +61 (0) 413 944 226 Email: craig.williams@orpheusgeo.com Matthew Yates CEO & Managing Director Mobile: +61 (0) 417 953 315 Email: MatthewY@orecorp.com.au Alastair Morrison Director Mobile: +61 (0) 438 820 188 Email: AlastairM@orecorp.com.au Luke Watson CFO & Company Secretary Mobile: +61 (0) 413 845 467 Email: lukew@orecorp.com.au South Africa George Bennett Director Mobile: +27 (0) 826 528 526 Email: George@mdm-engineering.com 22