PNG MINING SEMINAR: NOVEMBER 2011 JULIAN KING – EXPLORATION MANAGER
PNG MINING SEMINAR: NOVEMBER 2011 2 MIL RESOURCES LTD NOTICE AND DISCLAIMER CAUTIONARY STATEMENTThis document has been prepared by MIL Resources Ltd (the Company). This document contains background information about the Companyand its projects current at the date of this document. It does not purport to be all inclusive or complete. Recipients should conduct their owninvestigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statementsand opinions contained in this document.The document is for information purposes only. Neither the document nor the information contained in it constitutes an offer, invitation,solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This document may not be distributed in anyjurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of therestrictions that apply in their own jurisdiction.To the fullest extent permitted by law, MIL Resources Ltd, its officers, employees, agents and advisers do not make any representation orwarranty, expressed or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates,forecasts or other representations contained in this document. No responsibility for any errors in or omissions from this document is accepted.This document contains "forward-looking statements". Such forward-looking statements include, without limitation, (i) estimates of futureearnings, and the sensitivity of earnings to metals prices; (ii) estimates of future production/sales (iii) estimates of future cash costs; (iv)estimates of future cash flows, and the sensitivity of cash flows; (v) statements regarding future debt arrangements; (vi) estimates of futurecapital expenditures; (vii) estimates of reserves and (viii) the timing or results of permitting, construction and production activities.Where MIL Resources Ltd expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed ingood faith and believed to have a reasonable basis.However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materiallyfrom future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, metals pricevolatility, currency fluctuations, increased production costs, variances in ore grade or recovery rates from those assumed, as well as politicaland operational risks in the countries in which we operate and governmental regulation and judicial outcomes.The Company does not undertake any obligation to release publicly any revisions to any "forward-looking statement" to reflect events orcircumstances after the date of this document, or to reflect the occurrence of unanticipated events.To the extent that there is information set out in this document any potential quantity and grade is conceptual in nature, there has beeninsufficient exploration to define a mineral resource under the JORC Code and it is uncertain if further exploration will result in the determinationof a mineral resource under the JORC Code.The information contained in this document that relates to Exploration Results or Mineral Resources or Ore Reserves is based on informationcompiled by John Haggman who is a Member of the Australian Institute of Geoscientists. Mr. Haggman is a director of MIL Resources Ltd. Mr.Haggman has sufficient experience which is relevant to the style of mineral deposits under consideration and to the activity which he isundertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Mineral Resources andOre Reserves”. Mr Haggman consents to the inclusion in this presentation of the matters based on his information in the form and context inwhich it appears.
PNG MINING SEMINAR: NOVEMBER 2011 3MIL Resources Corporate• MIL Resources Limited• ASX Code: MGK• Fully paid shares on issue ~ 571M• Options ~ 86M• Share Price 1.7c• Market Cap ~ $10M• Cash (30 Sept 2011) $3M• Directors / Management• Doug Halley - Chairman• John Holliday - Director• John Haggman – Director• Anthony Williamson - CEO (Commencing Jan ‘12)• James Beecher - Company Secretary
PNG MINING SEMINAR: NOVEMBER 2011 4MIL Resources CorporateDirectors / Management• Doug Halley - Chairman John Fairfax Holdings; Hill Samuel Australia; Rothschild Australia; Thomson Corporation• Anthony Williamson - CEO (Commencing Jan ‘12) Director Mining – PNG Department of Mining; Member MAB; Director Ok Tedi Mining Limited; Triple Plate Junction; Archipelago Resources• John Holliday - Director BHP Minerals; Newcrest Mining Principal discoverer of the Cadia and Marsden porphyry gold-copper deposits NSW. Principal geological advisor on the acquisition of Namosi and Wafi-Golpu• John Haggman – Director Cyprus Gold Australia; Arimco Mining NL; Climax Mining Limited; Climax Arimco Mining Played key roles in the discoveries of the Junction Reefs orebody in NSW and the 2.1 MOz Didipio orebody in the Philippines• James Beecher - Company Secretary Deputy Chair of the Australian Institute of Company Directors’ Reporting Committee
PNG MINING SEMINAR: NOVEMBER 2011 7Poi• NE – SW transfer structure• Radiometric anomaly 11km x 1.5km• Coincident radiometric and geochemistry anomalies Aladdins Wallaby• Aladdins – trenching Ridge • 20m of 7.17 g/t Au, 0.5% Cu• Morti – trenching Morti • 12m @ 1.21g/t Au • 3m @ 0.53 g/t Au • 9m @ 1.5 g/t Au• Wallaby Ridge – soil sampling • 860m @ 0.06 g/t Au, 0.02% Cu • 500m @ 0.13 g/t Au, 0.01% Cu Meldrum and Lubbe 2011
PNG MINING SEMINAR: NOVEMBER 2011 8Poi• Potential for multiple intrusion related zones of mineralization close to margin of pluton• Diorite porphyrys and breccias• Marginal skarns• Epithermal veins• Drilling to commence in December. Rig currently being mobilized. Meldrum 2011
PNG MINING SEMINAR: NOVEMBER 2011 9Golden Peak DRILLING• 20m @ 7.2 g/t Au • 4 Holes – 640m: COMPLETE• 40 km east of Port Moresby • Awaiting results
PNG MINING SEMINAR: NOVEMBER 2011 10Golden Peak – Drill Pad GPDDH-1
PNG MINING SEMINAR: NOVEMBER 2011 12Golden Peak – GP DDH-1
PNG MINING SEMINAR: NOVEMBER 2011 1New Britain• Copper-molybdenum-gold systems• ELs located close to : • Barrick - Coppermoly $20 million JV area • Ok Tedi - Frontier’s $36 million JV area
PNG MINING SEMINAR: NOVEMBER 2011 2New Britain• Esso (1983) & CRA (1985) Yonathan River (470 g/t Au) Dagi South (18.4 g/t Au) Ania South (10.7 g/t Au) Amgan River (4.0 g/t Au)
Annual General Meeting November 2011 3New Britain Data – CRAE 1985• Review of historical work within EL 1642 focussed on the Atui prospect• Work by CRAE, 1986 included stream sed, pan cons, rock chip and soils• Significant Cu, Au, Ag anomaly from ridge and spur soil sampling
PNG MINING SEMINAR: NOVEMBER 2011 4New Britain: Atui Porphyry System• Cu, Au, & Ag soil anomalies
PNG MINING SEMINAR: NOVEMBER 2011 5Atui: Gold & Copper
PNG MINING SEMINAR: NOVEMBER 2011 1Typical Porphyry Mineralisation From Lowell and Guilbert 1975
PNG MINING SEMINAR: NOVEMBER 2011 2Legusulum: Copper - Gold• Porphyry copper-gold prospect – 70m thick leached cap over 1km2 – 6.1g/t Au rockchips• Explored by Swiss Aluminum during early 1970’s –13 DDH’s total 1500m –Av depth only 115m• Targets –Breccia pipes –Buried porphyry deposits
CALDERA’S PNG MINING SEMINAR: NOVEMBER 2011 3 Legusulum Lihir 43M oz Didipio (Phils) 2.1M oz
PNG MINING SEMINAR: NOVEMBER 2011 1Palabong: Copper - Gold• Palabong • Porphyry copper-gold • Weitin River caldera with copper stream sediment anomaly
PNG MINING SEMINAR: NOVEMBER 2011 2 Mussau & Tanga Gold Projects• Mussau Is located on the Simberi – Lihir – Tanga - Feni Island chain – hosts resources of over 49 million oz of gold.• 10km x 5km zone of epithermal quartz float - rock chips returning 28 g/t Au.• Previous work :- CRA (1969-70)- Kennecott – Niugini Mining (1984- 85)- BHP-Auralia (1986-87)• Tanga Island located 70km SE of Lihir gold mine - epithermal gold with assays to 2.0g/t Au
2011 A New Beginning 1 Community relations• Partnership• Employment• Medical• Schools Tankiu tumas
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