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Admiralty Resources NL
PRESENTATION
February 2009
Company Overview
ASX:ADY OTCBB:ARYRY (see www.adrbny.com)
1,133,457,841 shares on issue (at 31 January 2009)
1,000,000 Directors’ options (at 31 January 2009)
222 million held by the top 20 shareholders 19.60% (at 31 January 2009)
Admiralty Resources NL
11,467 shareholders, 494 overseas (at 31 January 2009)
100% Fortune Global Holdings
100% Inversiones Admiralty
Resources Chile Ltda.
1. Yongjin Luo – 2.83% 60% Vallenar Iron Ore Company
2. ANZ Nominees Ltd – 2.29%
100% Bulman Resources P/L
3. Citicorp Nominees Pty Ltd – 2.01% Bulman Project - Lead,&Zinc
4. Commsec Nominees Pty Ltd – 1.72%
100% Pyke Hill Resources P/L
5. Merrill Lynch (Australia) Nominees Pty Ltd– 1.60% 50% Pyke Hill Project - Nickel
100% ADY Investments P/L
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Key Personnel
Board of Directors
Prof. J Ross Harper CBE – LLB MA DUniv Chairman, legal background, London
John Anderson – B Com MBA Executive Director - banking, mining management – Melbourne
Michael Robert Clarke MSc – Managing Director Inversiones Admiralty Resources Chile Ltda., Chairman of
Vallenar Iron Company, Director Admiralty Resources NL – Santiago, Chile
Stephen Prior – B Com CA – Company secretary, taxation, finance, audit - Melbourne
Sociedad Contractual Vallenar Iron Company (formerly Cia Minera Santa Bárbara)
Board of Directors Senior Management
Michael Robert Clarke – President, Chile Esteban Torres – Vice President Operations
Juan Ignacio Correa – Director, Chile Ricardo González – Senior Geologist
Erwin Nordenflycht– Head of Mine Operations
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Project Overview – Production, Shipping, Focus
Vallenar Iron Company (formerly Cia Minera Santa Bárbara)
April 2007 – first shipment in WISCO 08 Sales agreement shipped
Nov 2007 – 30,000 tonnes per month final product, 500 hours per month, six shipments completed – 300,000
tonnes final product shipped 63.5% fines todate
Jan 2009 – Commission drilling program, to cover existing 5 mines, 20 hectares per month
2009 – commission Mariposa, Mirador pits to expand production to 3.9m tonnes per annum - $50m investment
2009 – commission Cape size port, and if successful Cape size port to increase shipping capacity by another
2.0m tonnes per annum (Caleta 0.9m, Cape T Port 2.4m,)
2010 – commission two more pits for production expansion to 7 million tonnes (Chillán Viejo, Primavera) if
Punta Alcalde Port project on target
2011 – commission conveyor system to Punta Alcalde Port and construct cape size port
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Key Statistics – Santa Bárbara
Caleta
Port
• 7,421 hectares of tenements at Japonesa Group Mine Vallenar
• 3,500 hectares at Pampa Tololo, near Los Colorados
• 11:1 ratio production of product grading at 9.0%
• Three 1960’s stockpiles with 3 million tonnes fines
• 8 geologists, topographers, mining engineers T
Port
• 16 staff quality control/laboratory
• 14,000 SHINC loading rate guaranteed
Punta
• SRK Geological Consulting key partner Alcalde
Vallenar
Iron
Mines
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12,000 Hectares in Iron Ore Belt
JAPONESA Ha MARIPOSA Ha CHILLAN VIEJO Ha
Group of Mines 1,951 Group of Mines 3,321 Group of Mines 975
1Japonesa 1-8 34 Leo Cinco 1-40 300 Leo Uno 1-2 20
1Japonesita 1-16 96 Leo Seis 1-60 300 Paco 1-2 14
Phil 3 Daniela 1-20 21 Tina 1-26 181
1Gibaiju 1-9 41 Daniela 2* 300 Chinchilla Dos 1-40 180
Pamela 1-7 67 Daniela 3* 300 Chinchilla Tres 1-40 180
Natasha 1-5 50 Leo 7, 1-40 200 Leo 3, 1-40 200
Tatiana 1-34 60 Leo 8, 1-60 300 Leo 4, 1-40 200
Phil Tres 1-20 100 Leo 9, 1-60 300
Zapallo 1* 300 Leo 10, 1-60 200
Zapallo 2* 300 Leo 11, 1-40 200
MIRADOR Ha
Zapallo 3* 300 Leo 13, 1-60 300 Group of Mines 1,064
Zapallo 4* 300 Leo 14, 1-40 200 1Mirador 1-3 21
Leo Dos 1-40 200 Leo 16, 1-40 200 Tanati 1-8 80
Felipe Dos* 100 Leo 20, 1-40 200 Phil Dos 1-7 63
Chinchilla Uno 1-40 200
Chinchilla Cuatro 1-40 100
SOBERANA Ha LA NEGRA Ha
Group of Mines 405 Group of Mines 624 Leo 15, 1-60 300
1Soberana 1-5 25 1Negrita 1-4 24 Zapallo 5* 300
Phil Cuatro 1-16 80 Leo 100 300
Leo 101 300 Leo 12, 1-60 300
1 Existingmines operated in 1960’s
* Exploration Mining Concessions
Product Specification
Element Typical Level % Annual shipping Capacity
Fe 63.5 2009 (from April 2009 onwards)
Si02 5.00 Port T - Caldera – 1 x 200,000 x 9 months = 1.8
million tonnes
Al203 1.2
P 0.07 2010
Port T – Caldera – 1 x 200,000 x 12 months = 2.4
S 0.01
million tonnes
Ca0 1.0
Mg0 1.1 2011
Punta Alcalde – 3 x 200,000 x 12 months = 7.2m
K20+Na20 0.05 tonnes
H20 1.0
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Vallenar Iron Tenements
Groups of Mines
Chillán Viejo
Japonesa
Mirador
Mariposa
La Negra
Soberana
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Resource Estimates – Vallenar Iron Company
194.1 Million Tonnes Measured, Indicated and Inferred
Mine Tonnage Weighted Average Grade
COMPETENT PERSON STATEMENT
Japonesa Measured: 26.2 million 13.78% (at 9% cut-off grade)
Indicated: 13.4 million 13.78% (at 9% cut-off grade) The information in this presentation relating
Inferred: 19.6 million 16.52% (at 9% cut-off grade) to resources is based on information compiled
Since the data for the resource statement was or reviewed by Sue Border who is a fellow of
issued in March 2007. 2 .2 million tonnes of run ASX release 14 May 07 the Australian Institute of Geoscientists and
of mine ore have been extracted.
who is employed by Geos Mining.
Japonesita Indicated: 25.1 million 19.4% (at 15% cut-off grade) Sue has sufficient experience which is relevant
Inferred: 21.9 million 24.1% (at 15% cut-off grade) to the style of mineralization and type of
deposit under consideration and to the activity
ASX release 10 July 08 which she is undertaking to qualify as a
Competent Person as defined in the 2004
Mariposa Indicated: 39.8 million 23.5% (at 15% cut-off grade)
Edition of the “Australasian Code for
Inferred: 48.1 million 23.1% (at 15% cut-off grade) Reporting of Exploration Results, Mineral
Resources and Ore Reserves.”
ASX release 10 July 08
Sue Border consents to the inclusion of the
A,B Chillan Viejo information on the Japonesa, Japonesita and
Mariposa mineral resources in this
C, D Mirador presentation based on the resource statement
issued by SRK Consulting Chile in the form
F, Primavera and context in which it appears.”
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Vallenar Iron Company’s Iron Ore Production
Port T at Caldera (negotiations pending) 18 tonne trucks taking ore to crusher Waste stockpiles
Iron ore greater than 100m ready for crushing Two 125 hour primary crushers Stevedore team at the port
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Caleta, Caldera Port
Caleta Pier - handymax Hopper ship loading
Final product being loaded for truck transport to Caleta 230km away
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Port of Punta Alcalde
Estimated Cost – US$32-$40m
Main road to pass site
14km road upgrade
Conveyor transport system
300,000 tonne stockpile
Container loading facility – Fruit Port
Iron ore loading – Santa Bárbara
Coal unloading – Power Project
Estimated Completion date Dec 2011 subject
to funding
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Bulman – Northern Territory
Zinc and Lead oxide, sulphide deposit
located in southern Arnhem land in
Australia's Northern Territory.
ELA23814 – 250 sq kilometres
In the 1950’s CRA estimated there was
substantial zinc sulphides from 11 drill
holes.
Area extensively covered by geophysics
surveys and soil surveys.
Further sampling and drilling work
undertaken in 2009 in order to better
define the geology from the 2008 drill hole
campaign, and determine the areas
acceptable for further exploration.
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Bulman Exploration Licences
Proposed drill holes (red dots), K-Th-U (Red-Green-Blue) image, highlighting potassium anomalies (pink).
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Pyke Hill – Nickel Cobalt JV – Cougar Metals NL
The Pyke Hill Project is located approximately 40km
southeast of the Murrin Murrin Nickel Operation, near
Leonora, Western Australia.
Prospective for a high-grade nickel-cobalt lateritic
resource. Estimated in-ground value $3.1b.
Aircore drilling undertaken by Cougar in FY2004
returned intersections including 7m @ 2.26% Ni, 6m
@ 2.03% Ni and 8m @ 1.50% Ni.
In FY2005 Cougar completed two additional drilling
programs at the project. A total of 25 holes for 896m
were drilled, The second program was completed at
the end of FY2005 and consisted of 31 Aircore drill
holes for 1380m.
Results of the better intersections encountered
ranged in thicknesses from 3m to 17m and averaged
7.5m. The depth to the top of mineralisation varied
from 13m to a maximum of 23m. Grades averaged
1.48% Ni overall using a 1.2% Ni cut-off.
Joint venture provides Admiralty with A$0.20 cents
per tonne of “run of mine” ore.
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