Wetar Copper Project (85% Finders, earning more with expenditure)

• » 9.8 MT @2.5% Cu at 0.5% cut off
• » ~245KT Cu
• » High grade low strip ratio, coastal location
• » Open cut mining, bacterial heap leach SXEW
• » 5tpd Demonstration plant under construction
• » Feasibility Study ongoing
• » Strong exploration upside
• » Satellite Cu/Au deposits, dominant land position

Track Record of Discovery

• » Milestones acheived in time
• » Demo plant delivered within budget
• » Scale up efficiencies to ~25ktpa
• » Permitting on target
• » Operational teams in place
• » Financial backing, incl. Loan Facility US$5M

Time Lines

• » Q3 2008 Demonstration Plant Commissioned
• » Q4 2008 Cash Flow from Pilot Plant; up to 150t cathode per month
• » Q4 2008 Feasibility Study Complete
• » Q4 2008 Long Lead Tim eItems Ordered
• » 2009 Construction & Commercial Production
  

Ojolali Gold Silver Project (71.7% Finders)

• » Major new epithermal district (+25km)
• » ~1 million Oz Au Equiv. in inferred resources at Jambi & Tambang
• » New Targets defined by soil geochemistry/geophysics
• » High potential for additional discoveries

Project Status

• » ~9000m RC Drilling program at Jambi gold Complete
• » Upgraded resource estimate for Jambi gold May 2008
• » Targeting 200K Oz oxide resource for start-up operation at Jambi
• » Ongoing step out exploration and metallurgical testing
• » Curretnly adding resources at ~$10/oz

Ojolali Development Strategy

• » Plan start-up 50K oz Au pa open pit at Jambi for cash flow
• » Feasibility and permitting by Q3 2009
• » Initial Production 2010
• » On going exploration to increase resource base
• » multi million ounce potential