This presentation summarizes work conducted on the Amazon Bay iron sands project in Papua New Guinea. Key points include: - A scoping study was completed that assessed the project location, resources, metallurgical test work, proposed dredging and processing methods, infrastructure needs, and financial analysis. - Sampling programs obtained samples for marketing and showed positive results, with iron contents around 30%. - The exploration target is estimated between 500-750 million tonnes in the initial Threadfin area, with a potential yield of 8-12% heavy mineral concentrate. - Metallurgical testing achieved a concentrate grade of over 45% iron using dry and wet magnetic separation. - Infrastructure such as accommodation

2. This presentation has taken information from the Study Report on the Amazon Bay Ironsands Project compiled for
Foyson Resources Ltd by Engenium Pty Ltd (Engenium) as an independent consultant. It is based in part upon
information furnished by Foyson Resources Ltd, specialist consultants, contract service operators, vendors of
equipment and Engenium’s engineering and project personnel.
The information is intended to be utilised by Foyson Resources Ltd and its contents have not been audited by
Engenium or any other third party.
Engenium also point out that the utilisation of the term “ore” throughout the presentation is intended to be used in a
descriptive manner only and the term does not indicate any inferred or intended compliance with the definition of “ore”
in the JORC Code.
This presentation may also include technical, economic or other assumptions made by Engenium during the execution
of the works which may ultimately not be attained. Engenium makes no representation or any warranty as to the
accuracy of those assumptions nor any results or estimates that may have resulted there from.
The information in this presentation that relates to Exploration Results is based on information compiled by a
consultant to the Company, Mr Chris Young, who is a Member of the Australasian Institute of Mining & Metallurgy and
a Member of the Australian Institute of Geoscientists.
Mr Young has over 40 years’ experience in the industry and has more than 5 years’ experience which is relevant to the
style of mineralisation being reported on, to qualify as a Competent Person, as defined in the “Australasian Code of
Reporting of Exploration Results, Mineral Resources and Ore Reserves”.
Mr Young consents to the inclusion of this information in this presentation.
Disclaimers

3. Key Achievements in 2013
Major Investor, TVI Pacific Inc. completes refinancing and commits to Balance
Tranche 2 funding;
TVI earns 10% interest in Amazon Bay Project;
Completion of Engenium Scoping Study on Amazon Bay Project;
Presentation of Scoping Study to MRA and senior PNG government officials;
Completion of Smelting Study for Amazon Bay Concentrate Offtake;
Completion of Amazon Bay Sampling Programs;
Positive Wardens’ hearing on EL 1396;
Grant of EL 2149 Amazon Bay North and EL 2281 Maruta;
Renewal of EL 1623 Sandbank Bay;
Discussions continued with parties interested in investment and offtake.

4. TVI Investment Summary
Exclusivity Fees of $300,000;
Tranche 1 completed August 2012 raising $884,000;
Tranche 2 partially completed April 2013 raising $100,000;
Balance Tranche 2 partially completed December 2013 raising $315,000;
Remaining Balance Tranche 2 to raise $585,000;
Exploration funding Amazon Bay $2,000,000;
Exploration funding New Britain $590,018;
Convertible loan $600,000;
TOTAL TVI INVESTMENT $5,374,018

5. Amazon Bay Project Location

6. Amazon Bay Tenement Areas
EL1396 Amazon Bay – renewal lodged December 2013, positive Wardens’
hearing held in January 2014 with 500 locals in attendance;
EL1623 Sandbank Bay – renewal granted October 2013;
EL 2149 Amazon Bay North – new grant received October 2013;
EL 2281 Maruta – new grant received February 2014 following positive Wardens’
hearing in late October 2013;
ELA 1643 Amazon Bay East – Wardens’ hearing scheduled for May 2014.

7. Amazon Bay Tenement Areas
Area
(Sq Km)
Application N/A
FOYSON RESOURCES AMAZON BAY PROJECT TENEMENT STATUS
N/AApplication1,217Fe, Ti,VELA 2280Oceana
Status
Original Term Granted 02/02/2016
Under renewal
Current Expiry Date
19/12/2013
Amazon North Fe, Ti,V 590EL2149
Project CommodityTitle
Amazon Bay Fe, Ti, VEL 1396
Poi South ELA 1643 Fe, Ti,V 514
Renewal Granted 3/11/2014
Original Term Granted 25/09/2015
Sandbank Bay Fe, Ti,VEL 1623 193
192
Maruta EL 2281 Fe, Ti,V 652

8. Due to the delay in funding from TVI, the comprehensive Threadfin
sampling program was not able to be completed;
Two smaller scaled sampling programs were undertaken in conjunction with
required Wardens’ hearings to minimise the cost of the programs;
The purpose of the programs was to obtain samples for marketing testwork,
engage the local landowners and foster positive community support.
2013 Sampling Program

9. Positive results were received from the first program which sampled the areas
around Deba and Margarita. The second sample program was finalised in late
January 2014 and analysis is not yet available.
2013 Sampling Program
Raw Analysis Report- Margarida & Deba
Serial No. Laboratory Sample No. Sample No.
Result %
TFe mFe SiO2 V2O5 TiO2 Na2O P S
13 YK2013-4432 PNG-9 18.84 10.24 36.56 0.24 7.84 1.71 0.030 0.018
14 YK2013-4433 PNG-10-1 14.78 4.05 40.78 0.16 5.28 1.89 0.032 0.014
15 YK2013-4434 PNG-10-2 32.23 9.42 21.16 0.53 14.79 0.97 0.026 0.011
16 YK2013-4435 PNG-10-3 30.38 8.41 23.17 0.51 14.18 1.13 0.039 0.014

10. What is the Product?
Amazon Bay is a mineral exploration target of vanadiferous titano-magnetite sands
spanning over 200 km of the southern PNG coastline;
The concentrate product will be similar to BlueScope Steel’s iron sand operation on
the North Island of New Zealand and Amex’s Mba Delta iron sand project in Fiji;
BlueScope has been in production for over 25 years;
Amex has progressed its Project into an implementation phase;
There is increasing demand for iron sands for use in steel making.

11. Project Resource
• The Exploration Target has been assessed as between 500million tonnes and 750 million tonnes in the
Threadfin area with a mass yield of 8-12% heavy mineral concentrate. The Threadfin area comprises an area
less than 10% of the granted tenements;
• 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;
• Shallow bulk samples have been taken from this area and at Barracouta near the village of Margarida and
Deba;
• The metallurgical work used in the Scoping Study and the Smelting Study was based on an average of the
results obtained;
• The initial focus of the resource assessment will now occur in the Margarida area, due to the results obtained,
and the PNG Government’s support to contribute to infrastructure development;
The information in this presentation that relates to Exploration Results and targets is based on information compiled by a consultant
to the Company, Mr Chris Young, who is a Member of the Australasian Institute of Mining & Metallurgy and a Member of the
Australian Institute of Geoscientists. Mr Young has over 40 years’ experience in the industry and has more than 5 years’ experience
which is relevant to the style of mineralisation being reported on, to qualify as a Competent Person, as defined in the “Australasian
Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Young consents to the inclusion of this
information in this presentation.

12. Metallurgical Test Work
Feed Type Type of Test Performed Mass Yield
%
Fe Grade
%
TiO2
%
V2O5
%
HMC 100 45.4 20.4 0.57
-425 µm with 45.4% Fe Pin Mill attrition followed by DTR primary
magnetic separation @ 380 Gauss
66.1 47.2 19.18 0.77
Secondary DTR separation on primary non-mag
@1700 Gauss
23.4 41.3 29.89 0.20
Primary magnetics from
previous stage
Electrostatic separation at 25 kV & ambient
temperature
38.6 48.7 23.02 0.69
Electrostatic separation at 25 kV & 85 C
temperature
40.4 47.7 22.69 0.68
Reserve Silica Flotation Flotation using primary magnetics from previous
steps
96.4 47.7 22.5 NA
Natural Sands Beneficiation Uses 2 stage dry magnetic separation,
electrostatics, cyclone classification, fine spirals,
milling and reserve silica flotation
45.6 47.3 20 NA
-425 µm HMC Screen @ 150 µm and grind to +150 µm, staged
fine dry magnetic separation
45.6 49.2 19.1 0.92
Screen @ 150 µm and grind to +150 µm – 75 µm,
staged fine wet magnetic separation
40.3 52.3 17.3 1.19

13. • The mass yield of the HMC from the combined Threadfin / Barracouta
composite is calculated at 25.7%. The mass yield of the magnetic concentrate
in the test work is reported at 40.3%. The product of the subsequent mass
yields provides the overall mass yield;
• The mass yield of 10.4% at Amazon Bay compares favourably with other iron
sands projects under consideration around the world.
Mass Yield

14. Engenium completed a Scoping Study on the Amazon Bay Project,
concluding all works in September 2013;
Engenium has recent experience in completing a BFS on the Amex
Resources iron sands project in Fiji and applied many of the costs
developed for that project to its Study on Amazon Bay;
The Study assessed:
– Project location and resource
– Previous studies undertaken prior to Engenium’s work
– Metallurgical Test Work
– Process Methodology
– Dredging (Mining)
– Processing
– Shipping
– Infrastructure
– Project financials
– Comparison with other iron sands projects
– Forward work program and overall Project timeline
Scoping Study

15. Process Methodology

16. Dredging (Mining)

17. Processing

18. Shipping
Floating Crane Transhipment
Geared Supramax Transhipment

19. The Project requires the installation of new infrastructure, namely:
Administration area, stores and workshop;
Laboratory;
Construction of a 50 person accommodation camp;
On site power generation via diesel fuelled generator sets;
Waste water treatment plant;
Fuel farm connected to a dedicated pipeline extending to the rock groyne.
Infrastructure

20. The Base Case proposes dredging 15 million tonnes of sand per annum, to
produce a concentrate of 1.56 mtpa;
The Study produced indicative Capital and Operating Cost to an accuracy of
+/- 30-35%;
The financial outcomes of the Study cannot be reported under JORC (2012)
requirements, due to the Exploration Target status of the resource;
However the coastal location provides favourable logistics and development
costs compared to other PNG projects.
Project Financials

21. Smelting Study completed by Electrum Pty Ltd in Quarter 4 2013;
Reviewed smelting techniques suitable for Amazon Bay concentrate;
DRI Technology recommended;
High vanadium and titanium contents make concentrate attractive;
Likely titano-magnetite concentrate product quality as follows:
Salient features are:
• a sub 55% Fe grade;
• low Al2O3;
• high TiO2 compared to an industry norm of 6% to 15%;
• very high Vanadium grades, compared to other iron sands projects
which generally have 0.35-0.5%.
Smelting Study
Fe Grade % Al2O3 % TiO2 % V2O5 %
52.3 1.82 17.3 1.19

22. A Direct Reduced Iron “DRI” material can be fed either directly to a basic
oxygen furnace or electric furnace to complete the reduction to pig iron;
Direct reduction methods utilise one of three basic technologies:
• Rotary Kiln (SL/RN process)
• Shaft
• Fluid Bed (FB)
The treatability of Amazon Bay material by Direct Reduction is not an issue
and the titanium content plays no part in the reduction reactions involved.
The reduction process would upgrade the magnetite feed from 52% Fe to
nominally 70% Fe;
The critical process step with high titanium feedstocks is the smelting /
melting stage. After reduction, the melting of the DRI can be achieved
solely using electrical energy to generate heat or can be achieved using
gaseous/solid reductants with oxygen to supply the heat source.
Smelting Study

23. A reduction process using electric arc smelting, whether it be AC or DC,
avoids the high titanium chemistry issues associated with the burning of
fuels and would be able to treat Amazon Bay concentrate;
Those processes most likely suitable for Amazon Bay are summarised
below and all use electric based heating in the final pig iron production step
and use no combusting fuels for heat generation.
• Midrex Direct Reduction Shaft Furnace;
• Midrex Fastmelt;
• Outotec Fluid Bed reactor (Circofer or Circored);
Electric smelting is suited to locations where mains electrical power is
cheap, or where cheap electrical power can be generated close by using
coal or gas or if an efficient co‐generation system can be incorporated into
the reduction and smelting circuit.
Smelting Study

24. There is no limit to the titanium content of the iron sands that can treated if
the process used is DRI plus electric melting however the capability of each
of these technologies to treat Amazon Bay material can only be determined
by large scale physical test work;
There are a number of major technology groups which will run laboratory
bench scale and pilot scale tests on the Amazon Bay concentrate;
It should be noted that ilmenite slag plants have been operating using
DRI/Electric Arc Furnace technology for 60 years. These plants operate
using material with 35‐55% Titanium and 20% Fe and produce a saleable
pig iron as the by‐product.
Smelting Study

25. Acquire sonic drill;
Sonic drill program of 250 holes;
Initial resource definition to support 10 year mine life;
Metallurgical testing to further refine process flowsheet;
Bulk samples for offtake testing and marketing;
Update the Scoping Pre-Feasibility Study;
Community Studies;
Baseline Environmental Studies.
Program for next Twelve Months

26. THANK YOU
ANY QUESTIONS