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High-Grade Gold │ Post-PEA │ Low-Risk Jurisdiction │ Low Capex│

February 2014

Patrick F. N. Anderson
Chief Executive Officer
FORWARD-LOOKING INFORMATION AND QUALIFIED PERSON

This presentation contains “forward-looking information” which may include, but is not limited to, statements with respect to the completion of the acquisition (the
“Acquisition”) by the Company from a group of private vendors of approximately 1.3 million hectares of mineral rights over four greenstone belts and a historic silver mining
camp in Norway, future financial or operating performance of the Company and its mineral projects, the future price of metals, the estimation of mineral resources, the
realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and
timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations,
environmental risks, reclamation expenses, title disputes or claims and limitations of insurance coverage. Often, but not always, forward-looking statements can be identified by
the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations
(including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or
be achieved.
Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, such as
the continued political stability in Northern Ireland and Norway, that permits required for the Company’s operations will be obtained in a timely basis in order to permit the
Company to proceed on schedule with its planned exploration and development programs, that skilled personnel and contractors will be available as the Company’s operations
continue to grow, that the price of gold will be at levels that render the Company’s mineral projects economic, that the Company will be able to continue raising the necessary
capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the PEA are accurate and complete.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among
others, general business, economic, competitive, political and social uncertainties; the actual results of current and future exploration activities; actual results of reclamation
activities; conclusions of economic evaluations; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible
variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure of plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or
construction activities, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained
herein are made as of the date of this presentation and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new
information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
Certain technical data in this presentation was taken from the technical report entitled “A Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project,
Northern Ireland” dated September 6, 2012 (effective date for resource is November 30, 2011), prepared by B. Terrence Hennessey, P.Geo., Mr. Barnard Foo, P.ENG., Mr.
Bogdan Damjanovic, P.ENG, Mr. Andre Villeneuve, P.ENG., and Mr. Christopher Jacobs, CEng MIMMM of Micon International Limited (the “PEA”), and is subject to all of the
assumptions, qualifications and procedures described therein.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature. It includes inferred mineral resources that are
considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no
certainty that the results of the PEA will be realized.
Michele L. Cote, MSc., P. Geo., VP Exploration, Dalradian Resources Inc., is the Qualified Person who supervised the preparation of the exploration technical data in this
presentation. The exploration data was based on the procedures described in the Company’s Annual Information Form for the year ended December 31, 2012 dated March 28,
2013 (the “AIF”) and is subject to all of the assumptions, qualifications and procedures described therein.

2

2
OVERVIEW AND CORPORATE
DNA SNAPSHOT
 High grade gold deposit with growth potential
 Positive PEA shows a high margin and low capex producer
 Strong local and national support for Curraghinalt project in Northern Ireland
 Green light to proceed with underground
development and bulk sampling, subject
to complying with terms and conditions

Shaping up to be
an eventful

2014
4
DNA SUMMARY
ANALYST COVERAGE:

(targets range from $1.00-$1.90)

Bart Jaworski
Mike Kozak
Michael Curran
Joe Mazumdar

TSX: DNA STOCK PRICE
Analyst
Targets

$2.0

$1.90

$1.8

$1.75

$1.6

$1.50

$1.4

$1.30

$1.2

$1.10
$1.00

$1.0
$0.8

Jamie Spratt

$0.6
$0.82

Steve Parsons

Feb 2014

Dec 2013

Oct 2013

Aug 2013

Jun 2013

Apr 2013

Feb 2013

Dec 2012

Oct 2012

Aug 2012

Jun 2012

Apr 2012

John Hayes

$0.4
$0.2

Feb 2012

Laurie Curtis

February 20, 2014

$0.0

SHARE CAPITALIZATION AND CASH POSITION
Shares outstanding of 109.4 million and
fully diluted of 127.9 million as of February 19, 2014
(includes Feb 2014 financing shares and warrants)

Cash position of $9.4 million as of September 30, 2013;
Closed $13.9 million financing on February 19, 2014

All dollars quoted in $ CAD

5
IN FOUR YEARS WE HAVE:

2013
2012
2011
2010
2009
• Project Acquisition December
• Historic gold
resource of
250,000 oz Indicated
& 350,000 oz
Inferred1,2

• Increased resource
to 400,000 oz
Indicated & 1.16M oz
Inferred1,3
• IPO - August

• 7 rigs onsite
• Increased resource
to 10,000 oz
Measured,
460,000 oz Indicated
& 2.23M oz
Inferred1,4

• Robust PEA
announced
• New discovery Alwories

• UG planning
permission
application
• VP Project
Development hired
• Extensive drilling
and re-sampling
• Geochem extends
trend to 12 km

1 Refer to PEA. Please see cautionary statements in Forward Looking Information (slide 3)
2 Historic resource completed by Micon International Ltd in 2007 using cut-off of 6 g/t Au and a minimum vein width of 1
metre: Indicated: 0.57 MT grading 13.95 g/t Au for 250,000 contained ounces; Inferred: 0.64 MT grading 17.15 g/t Au for
350,000 contained ounces
3 Historic resource completed by Micon using a 5 g/t Au cut-off and 0.1m minimum width: Indicated: 0.95 MT grading
13.24 g/t Au for 400,000 contained ounces; Inferred: 2.46 MT grading 14.64 g/t Au for 1.16 million contained ounces
4 Resource estimate completed by Micon using a 5 g/t Au cut-off: Measured: 0.02 MT grading 21.51 g/t Au for 10,000
contained ounces; Indicated: 1.11 MT grading 12.84 g/t Au for 460,000 contained ounces; Inferred: 5.45 MT grading
12.74 g/t Au for 2.23 million contained ounces
6
NORTHERN IRELAND
METAL PRODUCTION IN IRELAND & THE UK
 Our flagship asset: Curraghinalt high-grade lode gold deposit

Gold
Base Metals
Salt Mine

 Excellent regional infrastructure
 Over 84,000 hectares under license

Scotgold
Permitted

NORTHERN
IRELAND

Curraghinalt

Curraghinalt Gold
Deposit

Galantas Gold
Previous open pit producer;
Cavanacaw
permitting underground

Lonmin

Croagh Patrick
Irish Salt
Mining

Gortin

Galantas
Gold

Omagh

Cononish

Conroy
Gold exploration

Vedanta Resources
In production

Clontibret
Tara

Galmoy
Silvermines
Pallas Green

Conroy
Diamonds
& Gold

Xstrata
Feasibility

Boliden
In production
Parys Mountain

Avoca

Lisheen

BELFAST

Allihies Copper
Mines

Underground
Salt Mine

Gwynfynydd
Clogau
IMC Exploration
Gold exploration

Lundin
Previous producer
South Crofty

Gold Mines of Wales
Exploration

8
COUNTY TYRONE IS RESOURCE FRIENDLY

Clear Cut Logging at
Gortin Glen Forest Park
0

1
kilometres

2

Curraghinalt

Curraghinalt
Gortin

DG3
125 Metres

Greencastle Quarry

Alwories Quarry

Cavanacaw Open Pit
Approx 30 km SW

9
PERMITTING

 Less than a year to permit
underground bulk sample
 Transparent process: all stakeholder
communications published on
government website
 January 2011: EIA baseline data
collection commenced
 Strong social license: 6:1 ratio
of supporters to objectors for
UG bulk sample
 Regular community and
government agency meetings;
site visits for local and
government groups

10
CURRAGHINALT
DEVELOPMENT OF A HIGH-GRADE DEPOSIT

 Gold resource covers a fraction of
known mineralization over a
12 km gold trend
 High-grade gold resource1
 Measured: 0.02 MT grading 21.51 g/t Au
for 10,000 contained ounces
 Indicated: 1.11 MT grading 12.84 g/t Au
for 460,000 contained ounces
 Inferred: 5.45 MT grading 12.74 g/t Au
for 2.23 million contained ounces

 Positive PEA shows a high margin
and low capex producer1

1 Refer to PEA. Please see cautionary statements in Forward Looking Information (slide 3)
12
A 12KM GOLD TREND
GLACIATED TERRAIN WITH MINIMAL OUTCROP

Golan Burn
Outcropping veins including
4
60cm @ 61.43 g/t Au (12-CT-167)

Attagh Burn
2.47m @ 18.99 g/t Au

400 m Step-out

Curraghinalt
Deposit

3
3.2m @ 5.34 g/t Au (11-CT-99)

Curraghinalt
Trend

2
Alwories Discovery Holes
4.72m @ 14.82 g/t Au (12-CT-173)
2a
2.22m @ 14.10 g/t Au (12-CT-162)
2b
1.47m @ 23.6 2g/t Au (12-CT-162)

Curraghinalt Deposit

1
Resource effective as of Nov 2011 –
Measured: 0.01 Moz Au (0.02MT @ 21.51 g/t)
Indicated: 0.46 Moz Au (1.11MT @ 12.84 g/t)
Inferred: 2.23 Moz Au (5.45 MT @ 12.74 g/t)
Curraghinalt Trend
Veins in Current Resource
Intersected Veins
Historical Findings
Geochem Anomaly

1
2
3
4

43-101 Compliant Resource completed by Micon International Ltd using a 5 g/t Au cutoff and a 0.1m Minimum Width diluted to a 1 m horizontal width
12-CT-162 drilled at 180/-55. 12-CT-173 drilled at 150/-60; 2a from 186.00 m- 188.22m, 2b from 229m - 230.55 m ; true width undetermined
11-CT-99 drilled at 200/-60, from 471.14-474.34 m
12-CT-167 drilled at 180/-45 True width between 95-92% of core length
13
MESOTHERMAL VEIN SYSTEM
CROSS-SECTION

ADIT

14
PRELIMINARY
ECONOMIC
ASSESSMENT
MICON, JULY 2012
PRELIMINARY ECONOMIC ASSESSMENT

KEY PEA DATA*
NPV with 8% discount rate (After-tax)
IRR (After-tax)
Average Annual Production
Processing Rate

3 YEAR TRAILING AVERAGE
GOLD PRICE:
$1378/ounce

5 YEAR TRAILING AVERAGE
GOLD PRICE:
$1,166/ounce

$467 million

$331 million

41.9%

33.4%
145,000 ounces/year
1,700 tonnes/day

Life of Mine

15 years

Initial Capex ($38M contingency)
Cash Costs

$192 million
$532/ounce or $125/tonne

Diluted Grade

8.1 g/t Au

Gold Recovery

92%

Payback

2 years

At $814 gold price (10-year trailing average), after-tax IRR of 20.2%
* Prepared by Micon International Limited. PEA results released on July 25, 2012. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature. It includes
inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that
the results of the PEA will be realized. All dollars quoted in $ USD unless stated otherwise.
16
BULK SAMPLE
UNDERGROUND EXPLORATION DEVELOPMENT

DALRADIAN HAS RECEIVED
PLANNING PERMISSION TO
COMPLETE APPROXIMATELY 2,000 M
OF UNDERGROUND EXPLORATION
DEVELOPMENT in order to:
 Extend the existing adit to
intersect further veining
 Drift along exposed veins
 Install a ramp and work on
multiple levels
 Removal of large bulk sample

Existing
Exploration
Tunnel

Proposed
Stopes
T17
Vein

Proposed Crusher
Ramp

Proposed Tunnel Extensions
at Sub-Level

No. 1
Vein
Proposed Tunnel
Extensions at 170 M
Level
Proposed Access Ramp
to Sub-Level

106-16
Vein

18
CONCEPTUAL SUBLEVEL DEVELOPMENT
2,000 M PLANNED WITH THE GOAL TO:
 Demonstrate continuity of thickness and grade of mineralized veins
 Convert additional resources to Measured and Indicated
 Test mining and backfill methods
 Investigate geotechnical and hydrogeological conditions
 Produce a bulk sample for metallurgical test work

ROAD

MULLAN

T17

PLANNED
DEVELOPMENT

SHEEPDIP

CROW

BEND

No. 1

106_16

 Test the permitting process

EXISTING DEVELOPMENT

PLANNED
DEVELOPMENT
PLANNED
STOPING

19
19
PROJECT TIMELINE

 2014/2015
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

Receipt of planning permission with final terms and conditions
Surface Work
Resource
update

Exploration Tunneling
Test Stoping
Hydrogeology & Geotechnical Studies
Backfill testing
Updated
economic study

Metallurgical Testing

20
PERFECT TIMING

21
Patrick F. N. Anderson
Chief Executive Officer
info@dalradian.com
416.583.5622
Trading Symbol:
DNA on TSX
Corporate Office:
Dalradian Resources Inc.
155 Wellington Street West
Suite 2920
Toronto, Ontario
Canada M5V 3H1
www.dalradian.com

22

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Dalradian presentation bmo final 2014

  • 1. High-Grade Gold │ Post-PEA │ Low-Risk Jurisdiction │ Low Capex│ February 2014 Patrick F. N. Anderson Chief Executive Officer
  • 2. FORWARD-LOOKING INFORMATION AND QUALIFIED PERSON This presentation contains “forward-looking information” which may include, but is not limited to, statements with respect to the completion of the acquisition (the “Acquisition”) by the Company from a group of private vendors of approximately 1.3 million hectares of mineral rights over four greenstone belts and a historic silver mining camp in Norway, future financial or operating performance of the Company and its mineral projects, the future price of metals, the estimation of mineral resources, the realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims and limitations of insurance coverage. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions, such as the continued political stability in Northern Ireland and Norway, that permits required for the Company’s operations will be obtained in a timely basis in order to permit the Company to proceed on schedule with its planned exploration and development programs, that skilled personnel and contractors will be available as the Company’s operations continue to grow, that the price of gold will be at levels that render the Company’s mineral projects economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates, and that the assumptions contained in the PEA are accurate and complete. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current and future exploration activities; actual results of reclamation activities; conclusions of economic evaluations; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Certain technical data in this presentation was taken from the technical report entitled “A Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project, Northern Ireland” dated September 6, 2012 (effective date for resource is November 30, 2011), prepared by B. Terrence Hennessey, P.Geo., Mr. Barnard Foo, P.ENG., Mr. Bogdan Damjanovic, P.ENG, Mr. Andre Villeneuve, P.ENG., and Mr. Christopher Jacobs, CEng MIMMM of Micon International Limited (the “PEA”), and is subject to all of the assumptions, qualifications and procedures described therein. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. Michele L. Cote, MSc., P. Geo., VP Exploration, Dalradian Resources Inc., is the Qualified Person who supervised the preparation of the exploration technical data in this presentation. The exploration data was based on the procedures described in the Company’s Annual Information Form for the year ended December 31, 2012 dated March 28, 2013 (the “AIF”) and is subject to all of the assumptions, qualifications and procedures described therein. 2 2
  • 4. DNA SNAPSHOT  High grade gold deposit with growth potential  Positive PEA shows a high margin and low capex producer  Strong local and national support for Curraghinalt project in Northern Ireland  Green light to proceed with underground development and bulk sampling, subject to complying with terms and conditions Shaping up to be an eventful 2014 4
  • 5. DNA SUMMARY ANALYST COVERAGE: (targets range from $1.00-$1.90) Bart Jaworski Mike Kozak Michael Curran Joe Mazumdar TSX: DNA STOCK PRICE Analyst Targets $2.0 $1.90 $1.8 $1.75 $1.6 $1.50 $1.4 $1.30 $1.2 $1.10 $1.00 $1.0 $0.8 Jamie Spratt $0.6 $0.82 Steve Parsons Feb 2014 Dec 2013 Oct 2013 Aug 2013 Jun 2013 Apr 2013 Feb 2013 Dec 2012 Oct 2012 Aug 2012 Jun 2012 Apr 2012 John Hayes $0.4 $0.2 Feb 2012 Laurie Curtis February 20, 2014 $0.0 SHARE CAPITALIZATION AND CASH POSITION Shares outstanding of 109.4 million and fully diluted of 127.9 million as of February 19, 2014 (includes Feb 2014 financing shares and warrants) Cash position of $9.4 million as of September 30, 2013; Closed $13.9 million financing on February 19, 2014 All dollars quoted in $ CAD 5
  • 6. IN FOUR YEARS WE HAVE: 2013 2012 2011 2010 2009 • Project Acquisition December • Historic gold resource of 250,000 oz Indicated & 350,000 oz Inferred1,2 • Increased resource to 400,000 oz Indicated & 1.16M oz Inferred1,3 • IPO - August • 7 rigs onsite • Increased resource to 10,000 oz Measured, 460,000 oz Indicated & 2.23M oz Inferred1,4 • Robust PEA announced • New discovery Alwories • UG planning permission application • VP Project Development hired • Extensive drilling and re-sampling • Geochem extends trend to 12 km 1 Refer to PEA. Please see cautionary statements in Forward Looking Information (slide 3) 2 Historic resource completed by Micon International Ltd in 2007 using cut-off of 6 g/t Au and a minimum vein width of 1 metre: Indicated: 0.57 MT grading 13.95 g/t Au for 250,000 contained ounces; Inferred: 0.64 MT grading 17.15 g/t Au for 350,000 contained ounces 3 Historic resource completed by Micon using a 5 g/t Au cut-off and 0.1m minimum width: Indicated: 0.95 MT grading 13.24 g/t Au for 400,000 contained ounces; Inferred: 2.46 MT grading 14.64 g/t Au for 1.16 million contained ounces 4 Resource estimate completed by Micon using a 5 g/t Au cut-off: Measured: 0.02 MT grading 21.51 g/t Au for 10,000 contained ounces; Indicated: 1.11 MT grading 12.84 g/t Au for 460,000 contained ounces; Inferred: 5.45 MT grading 12.74 g/t Au for 2.23 million contained ounces 6
  • 8. METAL PRODUCTION IN IRELAND & THE UK  Our flagship asset: Curraghinalt high-grade lode gold deposit Gold Base Metals Salt Mine  Excellent regional infrastructure  Over 84,000 hectares under license Scotgold Permitted NORTHERN IRELAND Curraghinalt Curraghinalt Gold Deposit Galantas Gold Previous open pit producer; Cavanacaw permitting underground Lonmin Croagh Patrick Irish Salt Mining Gortin Galantas Gold Omagh Cononish Conroy Gold exploration Vedanta Resources In production Clontibret Tara Galmoy Silvermines Pallas Green Conroy Diamonds & Gold Xstrata Feasibility Boliden In production Parys Mountain Avoca Lisheen BELFAST Allihies Copper Mines Underground Salt Mine Gwynfynydd Clogau IMC Exploration Gold exploration Lundin Previous producer South Crofty Gold Mines of Wales Exploration 8
  • 9. COUNTY TYRONE IS RESOURCE FRIENDLY Clear Cut Logging at Gortin Glen Forest Park 0 1 kilometres 2 Curraghinalt Curraghinalt Gortin DG3 125 Metres Greencastle Quarry Alwories Quarry Cavanacaw Open Pit Approx 30 km SW 9
  • 10. PERMITTING  Less than a year to permit underground bulk sample  Transparent process: all stakeholder communications published on government website  January 2011: EIA baseline data collection commenced  Strong social license: 6:1 ratio of supporters to objectors for UG bulk sample  Regular community and government agency meetings; site visits for local and government groups 10
  • 12. DEVELOPMENT OF A HIGH-GRADE DEPOSIT  Gold resource covers a fraction of known mineralization over a 12 km gold trend  High-grade gold resource1  Measured: 0.02 MT grading 21.51 g/t Au for 10,000 contained ounces  Indicated: 1.11 MT grading 12.84 g/t Au for 460,000 contained ounces  Inferred: 5.45 MT grading 12.74 g/t Au for 2.23 million contained ounces  Positive PEA shows a high margin and low capex producer1 1 Refer to PEA. Please see cautionary statements in Forward Looking Information (slide 3) 12
  • 13. A 12KM GOLD TREND GLACIATED TERRAIN WITH MINIMAL OUTCROP Golan Burn Outcropping veins including 4 60cm @ 61.43 g/t Au (12-CT-167) Attagh Burn 2.47m @ 18.99 g/t Au 400 m Step-out Curraghinalt Deposit 3 3.2m @ 5.34 g/t Au (11-CT-99) Curraghinalt Trend 2 Alwories Discovery Holes 4.72m @ 14.82 g/t Au (12-CT-173) 2a 2.22m @ 14.10 g/t Au (12-CT-162) 2b 1.47m @ 23.6 2g/t Au (12-CT-162) Curraghinalt Deposit 1 Resource effective as of Nov 2011 – Measured: 0.01 Moz Au (0.02MT @ 21.51 g/t) Indicated: 0.46 Moz Au (1.11MT @ 12.84 g/t) Inferred: 2.23 Moz Au (5.45 MT @ 12.74 g/t) Curraghinalt Trend Veins in Current Resource Intersected Veins Historical Findings Geochem Anomaly 1 2 3 4 43-101 Compliant Resource completed by Micon International Ltd using a 5 g/t Au cutoff and a 0.1m Minimum Width diluted to a 1 m horizontal width 12-CT-162 drilled at 180/-55. 12-CT-173 drilled at 150/-60; 2a from 186.00 m- 188.22m, 2b from 229m - 230.55 m ; true width undetermined 11-CT-99 drilled at 200/-60, from 471.14-474.34 m 12-CT-167 drilled at 180/-45 True width between 95-92% of core length 13
  • 16. PRELIMINARY ECONOMIC ASSESSMENT KEY PEA DATA* NPV with 8% discount rate (After-tax) IRR (After-tax) Average Annual Production Processing Rate 3 YEAR TRAILING AVERAGE GOLD PRICE: $1378/ounce 5 YEAR TRAILING AVERAGE GOLD PRICE: $1,166/ounce $467 million $331 million 41.9% 33.4% 145,000 ounces/year 1,700 tonnes/day Life of Mine 15 years Initial Capex ($38M contingency) Cash Costs $192 million $532/ounce or $125/tonne Diluted Grade 8.1 g/t Au Gold Recovery 92% Payback 2 years At $814 gold price (10-year trailing average), after-tax IRR of 20.2% * Prepared by Micon International Limited. PEA results released on July 25, 2012. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. All dollars quoted in $ USD unless stated otherwise. 16
  • 18. UNDERGROUND EXPLORATION DEVELOPMENT DALRADIAN HAS RECEIVED PLANNING PERMISSION TO COMPLETE APPROXIMATELY 2,000 M OF UNDERGROUND EXPLORATION DEVELOPMENT in order to:  Extend the existing adit to intersect further veining  Drift along exposed veins  Install a ramp and work on multiple levels  Removal of large bulk sample Existing Exploration Tunnel Proposed Stopes T17 Vein Proposed Crusher Ramp Proposed Tunnel Extensions at Sub-Level No. 1 Vein Proposed Tunnel Extensions at 170 M Level Proposed Access Ramp to Sub-Level 106-16 Vein 18
  • 19. CONCEPTUAL SUBLEVEL DEVELOPMENT 2,000 M PLANNED WITH THE GOAL TO:  Demonstrate continuity of thickness and grade of mineralized veins  Convert additional resources to Measured and Indicated  Test mining and backfill methods  Investigate geotechnical and hydrogeological conditions  Produce a bulk sample for metallurgical test work ROAD MULLAN T17 PLANNED DEVELOPMENT SHEEPDIP CROW BEND No. 1 106_16  Test the permitting process EXISTING DEVELOPMENT PLANNED DEVELOPMENT PLANNED STOPING 19 19
  • 20. PROJECT TIMELINE  2014/2015 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Receipt of planning permission with final terms and conditions Surface Work Resource update Exploration Tunneling Test Stoping Hydrogeology & Geotechnical Studies Backfill testing Updated economic study Metallurgical Testing 20
  • 22. Patrick F. N. Anderson Chief Executive Officer info@dalradian.com 416.583.5622 Trading Symbol: DNA on TSX Corporate Office: Dalradian Resources Inc. 155 Wellington Street West Suite 2920 Toronto, Ontario Canada M5V 3H1 www.dalradian.com 22