INDIA RESOURCES LIMITED Forward-Looking Statements
This presentation contains forward looking statements concerning the projects owned by India Resources Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forward- looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on management's beliefs, opinions and estimates as of the dates the forward looking statements are made and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.
Data and amounts shown in this presentation relating to capital costs, operating costs and project timelines are internally generated best estimates only. All such information and data is currently under review as part of India Resources Limited's ongoing development and feasibility studies. Accordingly, India Resources Limited cannot guarantee the accuracy and/or completeness of the figures or data included in the presentation until the feasibility studies are completed.
Competent Person's Statement
The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Eoin Rothery, a Competent Person who is a Member of the Australian Institute of Geoscientists. Eoin Rothery is employed by India Resources Ltd on a consultancy basis and is an employee of Thomson Resources Ltd. Eoin Rothery has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Eoin Rothery consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information is extracted from the report entitled "Aravalli project - supplementary update" created on 23 July 2014 and is available to view on http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=IRL. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
JORC - Exploration Targets
The information in this presentation relating to exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. Hence the terms Resource(s) or Reserve(s) have not been used in this context. The potential quantity and grade is conceptual in nature, since there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in the determination of a Mineral Resource.
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OverviewIRL is the only foreign mine operator in India, specifically in underground base metals space.
World class Lead/Zinc exploration portfolio− Aravalli project - SEDEX Pb/Zn occurrence, in close proximity to Zinc major Hindustan Zinc Limited. IRL has explored and has right to be granted Mining Lease.
− A great asset to develop in booming Lead/Zinc market.
Mining Contracts - a well established, profitable and expanding underground business
− Surda copper mine and Mosaboni Concentrator plant in production since Nov
2007. Record copper production achieved.
− Surda expansion project.
− Rakha - Letter of Intent has been issued to IRL/ Kopex bid.
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In the last 10 years the zinc price has increased 143% vs.
copper 322%, lead 366%, lron Ore 896%, gold 279%
India Resources Limited
Source: lronbark lnvestor presentation October 2013
· Zinc is the 4th most globally used metal
not just a China story
19Ml 1965 1no tt7s 1!'&:1 1985 1990 1 9t5 2000 :::oo 2.:liO 2<115 2020 ms
India Resources Limited
Zinc mines are closing at faster rate than new start upsSource: http://www.aussiestockforums.com/forums/showthread.php?t=2650
Supply / demand gap, coupled with closers of producing mines supports strong Zinc price in future
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IRL's Zinc Asset - Aravalli Project (RP 1-2004) in IndiaRP 1 / 2004
Located in a world class Zinc/Lead province.
Adjacent to highly successful Dariba Mine and Sindesar Khurd Mine owned by AIM listed Vedanta group.
Vedanta operates Zinc smelter nearby.
Aravalli project is owned by IRL's 100% subsidiary, Crown Mining Pvt Ltd CMPL
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IRL HAS CARRIED OUT EXTENSIVE DRILLING IRL Diamond Drilling:1. 3,348.80 m (6 bore holes in Sindesar Dariba area)
RC Drilling:1. 5,250.05m (32 holes)
1. Wari - 9 holes
(3058m)
2. Pari - 3 holes(548m)
3. Sathuddia -10
holes(1364m)
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IRL - Aravalli Project Drilling (ARD5, ARD6)ARD5 at Sindesar Khurd North ARD6 at Sindesar Kalan East
Along strike from Sindesar Khurd
Mine - 7m at 8.5% Pb + Zn
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Large widths, low grade
Largely drilled only to 100m below surface: continuous, open at depth
Aravalli ProjectAravalli
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Intense mineralisation Sedex occurrence similar to Mt Isa.
IRL - exploration target between 95-135mt @
between 2.2 to 4.5% Zn, 0.7-1.8% Pb.
Refer to the IRL's ASX announcement of July
23, 2014.
Note: the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The target is based on around 75 diamond drill holes drilled by Geological Survey of India and IRL.
Further drilling to upgrade the target to a JORC Resource is planned on grant of the ML.
The target was derived by 3D modelling of the lodes intersected in the 75 drillholes. Each original GSI block was looked at in turn and grade and tonnage ranges derived from variable projections horizontally and down dip; and comparisons to the historical estimate for each block; as well as allowances for lease boundaries.
Status of Mining Lease application• ON 7.7.2008 CMPL (100% IRL) applied for granting of ML (Application
No 87/08) before expiry of RP, over an area of 24.4 SQ km.
• UNDER
• Provisions of section 11 of the MMDR 1957 and
• Rule 7C on the Mineral Concession Rules, 1960
• CMPL, being a RP holder has preferential right for the ML
grant.
• To fast track approval process the Aravalli Project has recently been listed with Project Monitoring Group PMG. A significant event as it proves the intent of Indian federal government to ensure the project is not held back unnecessarily.
• Recent Jodhpur High court judgement about Aravalli project has also helped in creating urgency at the State level to fast track decision on ML grant.
• Target awarding of ML grant end 2015.
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Summary & OutlookZinc and Lead price are forecast to be very strong due to ongoing reduction in mine output. There are few known new world class projects to replace shortfall in the short term.
The Aravalli project is however is potentially a world class Pb/Zn deposit. Project is located inside a globally significant Pb/Zn province.
IRL's ML application is surrounded by the mines operated by Vedanta group. Vedanta group operates a very successful Pb/Zn business. This group has several operating mines, concentrator plant and a smelter in the area.
IRL has made significant progress in realising its right to get Mining
License with target completion end 2015.
Recent registration with Project Monitoring Group and an order by High court bodes well for successful grant of Mining Lease in the near future. Once granted IRL will own potentially a world class Pb/Zn asset in a proven mining province.
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