Aspire Mining Limited (ABN 46 122 417 243)

The Ovoot Coking Coal Project

A Mongolian\Australian PartnershipJune 2010

Aspire Mining Limited

June 2010 2

The purpose of this presentation is to provide general information about the Ovoot Coking Coal Project. Unless otherwise stated herein, the information in this presentation has been based on information provided by the Vendor of the Project.

Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties which may cause the Company’s actual performance in future periods to differ materially from any express or implied estimates or projections.

No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its officers, employees and advisers expressly disclaims any responsibility for the accuracy , fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. Any opinions expressed in the presentation are subject to change without notice.

All persons should seek appropriate professional advice in reviewing or considering the presentation and all other information with respect to the Company and evaluating the Ovoot Coking Coal Project. The presentation does not purport to contain all of the information that may be required to evaluate all of the factors that would be relevant in determining whether to deal in the Company’s securities, including but not limited to any person’s objectives, financial situation or needs. Each person should make, and will be taken to have made, its own investigation, assessment and analysis of the information in this presentation and other matters that may be relevant to it considering whether to deal in the Company’s securities.

This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, Canada, Japan, or in any jurisdiction where such distribution or offer is unlawful. Neither this presentation nor a copy of the presentation can be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person as defined in Regulation S under the US Securities Act 1933, as amended (the “Securities Act”). Any failure to comply with this restriction may constitute a violation of United States securities laws. The presentation and any oral statements made in connection with

it are not an offer of securities for sale in the United States.

Disclaimer

Aspire Mining Limited Introduction

May 2010 3

Prospective Geology but little development:�Land Locked�Lack of Infrastructure�Lack of local capital formation�Small industrial base

However:�Chinese driven increases in demand and price for resources now looks to over come these challenges

The focus is now well and truly on Mongolian Resources

Aspire Mining Limited Contents

�Brief History of Ovoot Coking Coal Project

�Options Open to the Mongolian Vendors

�The Transaction with Aspire

�Benefits of the Transaction

�ASX vs Other Sources of Equity Funding

�Conclusion

May 2010 4

Aspire Mining Limited

June 2010 5

Ovoot Coking Coal Project History

�Discovered by the Altai Gold LLC team

�Widespread regional and project specific mapping

�8 hole 1,100m core drilling programme at Ovoot

� 4 of 8 holes discovered thick multiple coal seams

Ovoot Coking Coal Project

Aspire Mining Limited

Coal Quality Comparisons� Low moisture, high vitrinite

levels and high reflectance levels = high rank HARD Coking Coal

� Comparisons used are raw drilling results (Ovoot) versus beneficiated product

� Ash averages at 13.8% from drilling higher than market spec

� Washability to be tested

� Fluidity Tests required

Ovoot Coking Coal Project

6June 2010

Coal Measures Ovoot

Raw Data

Moatize German Creek

Peak Downs

CSN 8- 8.5 8.5 8 8.5

Vitrinite Levels

(% by vol)

91% 81%

RoMax 1.41 1.4 1.52 1.42

Volatile Matter (% ad)

27 21.8 19.8 20.7

Inherent Moisture

0.5% 1.1% 1% 1%

Sulphur

(% ad)

0.88% 0.86% 0.7% 0.6%

Aspire Mining Limited 2008 Drilling Results

June 2010 7

Drilling Results in 2008

Aspire Mining Limited Ovoot Coking Coal Project

June 2010 8

Potentially Very Large Basin

96.3km2 173.2km2

Aspire Mining Limited Options Open to Vendor

Options Positives Negatives

Outright Sale - Cash • Certainty. • Immediate

• Value limited as buyer may heavily discount risk.

Joint Venture • Access capital and technical resources of partner

• Retain interest in value of project as it is de-risked

• Will result in a minority position• Not able to drive timing

• Lacks liquidity• Can be difficult to value

Outright Sale - Shares • Provides liquidity and a value to the investment

• Accessing technical resources • Enables capital to be raised• Retains value upside (to the

extent that value not diluted by other assets)

• Often trading restrictions• Diluting exposure to the project

upside to some degree.• May not agree with

development and value realisation strategy

June 2010 9

Aspire Mining Limited

June 2010 10

Transforming Acquisition of Ovoot Coking Coal ProjectVendor Deal Terms• Cash–US$500k at Settlement–US$3 million in 12 months

• Shares\Options–150 million fully paid shares in Aspire (escrowed for 12 months)–30 million Performance Options exercise at 5c expiry 12 Feb 2015

(Only vested once more than a 200 mt JORC Compliant Resource established)

• Value

Corporate Summary

Cash Shares @ 3c Total

US$ 3.5m A$ 4.5 m A$8.6m + Options

Aspire Mining Limited Drilling Results 2010

May 2010 11

�Interim Exploration Results to 31 May 2010

�8 additional holes drilled

� All holes intersected coal 6 –38m thick in two seams

�Coal seams intersected from 46m depth

� Awaiting sample analysis

� Drilling to date consistent with geological model

Aspire Mining Limited Positive Reaction to Deal

Aspire

Share Price Performance (12 months)

June 2010 12

Transaction Announced

SettlementExploration Starts

Aspire Mining Limited Value Appreciation

June 2010 13

Aspire Mining Limited Vendor Value Appreciation

Value @ Nov 09 Value @ June 10

Cash US$3.5m US$3.5m

Shares A$4.8m A$17.25m

Options(in the money)

Nil A$2m

Total A$8.9m A$23.35m 260% Increase

Benefits to the Vendors

June 2010 14

Plus• Strategic 35% holding in the company ( 26.7% fully diluted)• Access to public equity markets for funding• Continued involvement in future equity value growth• Focused on adding value to Ovoot• Value upside at Ovoot not diluted by other assets

Aspire Mining Limited

May 2010 15

• Benefits to Aspire�A Mongolian\Australian Partnership

�Mongolian nationals own 35% of Aspire (undiluted)

�Aiming for a minimum 90% Mongolian employment

�Excellent access to key decision makers in Government

�The appointment of Gan-Ochir to the Aspire Board

� Signing on the Vendor technical team

� Significant involvement of the vendors going forward providing advice

Ovoot Coking Coal Transaction

Aspire Mining Limited Model for Other Projects

• Combination of :Quality Resource Project

+First World Technical Validation

=Access to Public Equity Markets

• Examples:

– Aspire, Hunnu Coal, Voyager Resources , Xanadu Mines

Attractive Model for Mongolian Project Vendors

June 2010 16

Aspire Mining Limited Australia is a Logical Destination

• The ASX has 680 companies listed on the Mining Boards

• $10.2bn raised in IPO’s and secondary raisings by resource companies in 2009 - 2010

• History of funding resource exploration\development projects in Asia (Thailand, Laos, China, Phillipines, Indonesia)

• Market understands resources and knows how to analyse early opportunities

ASX is Well Placed to Fund Early Stage Projects

June 2010 17

Aspire Mining Limited Australia is a Logical Destination

June 2010 18

Aspire Mining Limited Australia is a Logical Destination

June 2010 19

Aspire Mining Limited Australia is a Logical Destination

� Smaller average raisings possible

� Exploration can be funded (Specifically excluded by HK)

� Cheaper capital raising costs

� Exposes assets to public analysis\valuation

� Larger Raisings can be achieved in Hong Kong, Canada, or London once the assets are de-risked

ASX is Well Placed to Fund Early Stage Projects

June 2010 20

Aspire Mining Limited Summary

“The Aspire transaction is an excellent example of a quality Mongolian Asset being funded by the Australian equity markets.”

June 2010 21

A True Mongolian Australian Partnership

Aspire Mining Limited

June 2010 22