Magnetite Mines Limited (ASX:MGV) controls over 50,000 square kilometers of exploration tenure in South Australia's Gawler Craton, considered highly prospective for copper, nickel, gold, and other metals. MGV has identified several priority targets across its projects, including Moorilyanna where near-surface copper intersections were received. The company is well-funded with $14.8 million cash and an experienced technical team led by Managing Director Robert Waugh. MGV presents shareholders a value opportunity to participate in the exploration upside across its large land package.

1. Resources & Energy
Symposium
Broken Hill 2012
ASX : MGV
Rob Waugh – Managing Director

2. Value Opportunity
Seven key elements:
1. Great land package – First mover - Underexplored
2. Huge greenfield potential
3. Strong financial position ~$14.8M cash
4. A strong, experienced team
5. Excellent targets – currently drilling
6. High quality register
7. Value opportunity

3. Project Location

4. Moorilyanna Prospect
Large
hydrothermal
Copper, Gold,
Silver footprint
Near surface
regolith
intersections
including:
12m @ 0.20% Cu
10m @ 0.23% Cu

5. Moorilyanna
Near Surface Copper
Two
Mineralised
Copper
Zones
Combined
strike extent
over 8km
Zones up to
80m wide
from surface
Close to Road and Rail

6. Caprica East
Mineralised Copper Zone
Mineralised
Copper Zone
over
>900 metres
strike
Six IP Targets
Co-incident with
Geochemistry
3,000m RC
Drilling
Assays Pending
Inverted
Chargeability Model
Assays Pending

7. Deering Hills
Project Location

8. Deering Hills Drilling
Sulphides Intersected
• Magmatic sulphide within Giles Complex
mafics in drilling
• Nickel & Copper sulphide as veinlets and
disseminated ‘blebs’ at surface
• Analogous setting to Voisey’s Bay
(136Mt @ 1.6% Ni, 0.8% Cu)
Drilling has confirmed we are in the right environment

9. Deering Hills
New Targets
 15 priority VTEM
targets
Ni, Cu, PGE Anomalies
 3 high
conductance
anomalies
confirmed with
ground EM –
work continuing
 All targets under
shallow sand
cover
 “Target cluster”
Diamond Drilling Commenced – Results Pending

10. Deering Hills
Pallatu Area
 VTEM
conductivity
image
 High
conductance
targets
 Targets
marginal to
Giles
Complex
intrusives in
areas of thin
sand cover
 Drilling –
awaiting
assay results
Shallow , Highly Conductive Targets

11. Mt Woodroffe
Project Location

12. Mt Woodroffe Targets
 Twelve
priority VTEM
targets
 Co-incident
with Cu, Ni,
Co, Pt
anomalies in
stream
sediment
sampling
 Targets all
proximal to
Giles
Complex
intrusives
New Targets

13. Explorable Area Doubled
Additional 7,300km2 - Pipeline of Future Opportunities

14. Huge Land Holding
Largest Landholder in Province with >50,000km2

15. Effective Exploration
ACTIVITY May Jun Jul Aug
Airborne Surveys   
Geological Mapping    
Geochemistry    
Gravity 
Ground EM   
Drilling   
 Systematic testing of high quality Tier 1 targets – Multiple projects
 Currently drilling – results awaited
 Majority 100% owned
 MGV – Experienced operators
 Effective / systematic exploration
Active Exploration

16. Maximising the Probability
of Success
Keys Strategy
100% MGV
Search Space
Province Scale Landholding
People
First Mover
Funding
Process
Ability to make the major
discovery
New Areas, Concepts
& Technology Drill Targets
• Camp scale target areas Project • Moorilyanna
New tenement grants • Caprica East
• New geological framework Areas Prospects
• VTEM & Gravity 3D • Deering Hills
• Caprica West Advanced
• Picon • Moorilyanna
• Geochemistry advances • Mimili
• Deering Hills • Pallatu Projects
• Ground EM & IP • Mt Woodroffe
• Pallatu
• Vacuum drilling • Mt Woodward
• Valen
• Niton • Bryson Hill
• Galen
• Links with CET, Adel Uni • Ulkesh
Commodity Focus
= NEW TARGET AREAS
Copper, Nickel, Gold
Target Generation Target Advanced Concept
Prospect Identification
Target Definition Testing Project Studies

17. Experienced Management
& Technical Team
Graham Ascough BSc, MAusIMM, PGeo (Non-Executive Chairman)
 Geoscientist with >20 year’s exploration experience (Ex Falconbridge)
Robert Waugh MSc, BSc, MAusIMM, MAIG (Managing Director)
 Geologist with >20 years of exploration experience (Ex WMC & BHP) including 9
years in the Musgrave region
Kelly Ross BBus, CPA, GradDipCSP (Non-Executive Director)
 Accountant and Chartered Secretary with over 25 year’s experience in the mining
industry
John Percival (Non-Executive Director)
 Over 25 year’s experience in broking, investment and merchant banking including
15 years as investment manager of Barclays Bank New Zealand Limited
-------------------------------------------------------------------------------------------------
Donald Stephens BA(Acc), FCA (Company Secretary)
 Chartered Accountant with over 25 year’s experience as a corporate adviser across
various industry sectors including mineral exploration
Justin Gum PhD, MAIG (Exploration Manager)
 Geologist >19 years of exploration experience including manager of PIRSA’s
Musgrave Team

18. Corporate Snapshot
& Share Structure
Shares on Issue 121 Million
Currently trading below cash backing
Share Price (17th May 2012) $0.08
Cash Backing ~12c
Cash on Hand (31st March 2012) ~$14.8M
Debt $0
Market Cap. (@8c) $9.7M
Enterprise Value -----
Institutions
9%
Other Cornerstone
Options on Issue Expiry Ex. Price Number Investors Investors
50% 36%
Total 2016-17 $0.25 - $0.50 16,025,000 Directors
5%
Fully Diluted

19. Corporate Snapshot
& Share Structure
Top 10 Shareholders % Holding
Mithril Resources Investments Pty Ltd 7.7
 Listed on ASX
Independence Group NL 7.5
April 29th, 2011
Goldsearch Ltd 7.2
ASX Code : MGV
Acorn Capital Ltd 6.4
Barrick (Australia Pacific) Limited 5.0
 121M Shares Integra Mining Limited 4.6
41M (36%) held by JP Morgan Nominees Australia Ltd CI A/C 4.4
Cornerstone Investors
Argonaut Resources NL 2.1
…………..of which 32
million escrowed for 12 Mr WD Goodfellow 1.3
months Mr SH Koppe 1.0
47.2%
as at 17th May 2012 * The top 20 shareholders hold 54.3%

20. The Opportunity
 In a very prospective under-explored region,
MGV has :
1. Province scale landholding
2. Huge greenfield potential
3. Excellent targets
4. A strong, experienced team
5. Strong financial position (cash)
6. A high quality register

21. Disclaimer
This presentation has been prepared by Musgrave Minerals Limited (Musgrave Minerals). The information contained in this presentation is a
professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and
though Musgrave Minerals has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or
verified by Musgrave Minerals.
Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and
contingencies, many of which are outside the control of, and may be unknown to, Musgrave Minerals. In particular, they speak only as of the
date of this document, they assume the success of Musgrave Minerals strategies, and they are subject to significant regulatory, business,
competitive and economic uncertainties and risks. Actual future events may vary materially from the forward-looking statements and the
assumptions on which the forward-looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue
reliance on such forward-looking statements.
Musgrave Minerals makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and
does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document
has been issued.
To the extent permitted by law, Musgrave Minerals and its officers, employees, related bodies corporate and agents (Agents) disclaim all
liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Musgrave Minerals and/or
any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on
this presentation or information.
All amounts in A$ unless stated otherwise.
Competent Person’s Statement
The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by
Mr Robert Waugh. Mr Waugh is Managing Director of the Company and is a member of the Australasian Institute of Mining and Metallurgy
(AusIMM) and a member of the Australian Institute of Geoscientists (AIG). Mr Waugh has sufficient industry experience to qualify as a
Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Mr Waugh consents to the inclusion in the report of the matters based on their information in the form and context in which it
appears.