PRESENTED BY

FRANK BETHUNE AND KEN MAIDEN

EXPLORATION FOCUS

ON NAMIBIA

December 2012

1 INTERNATIONAL BASE METALS LIMITED

2

Disclaimer

This document contains certain "forward–looking statements", including, but not limited to, statements concerning current and

future drilling programmes, estimation of mineral resources, the continuing development plan, the type of mineralisation present

and expected results. Information inferred from the interpretation of drilling results may be deemed to be a forward looking

statement, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Statements and estimates concerning mineral resources may also be deemed to be forward looking statements in that they

involve estimates, based on certain assumptions, regarding the mineralisation that would be encountered if and when a mineral

deposit is actually developed and mined. Forward looking statements are not historical facts, and are subject to a number of risks

and uncertainties beyond management‟s control. There can be no assurance that such statements will prove to be accurate.

Actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that

could cause results or future events to differ materially from current expectations expressed or implied by the forward–looking

statements include, among other things, but without limitation, those set forth in the 2012 Annual Report and the website

(www.interbasemetals.com) of International Base Metals Limited (IBML).

The technical information contained in this document was compiled by Dr Ken Maiden (MAIG, FAusIMM), a Director of

International Base Metals Limited. Dr Maiden is a Member of the Australian Institute of Geoscientists and a Fellow of the

Australasian Institute of Mining and Metallurgy. He has sufficient experience to qualify as a Competent Person as defined in the

September 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves”. Dr Maiden consents to the inclusion of the matters in the form and context in which they appear.

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Corporate Structure

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Capital Structure & Shareholder Register

Shares on Issue - 15 November 2012 394,158,540 Options

– 20 cents exp 20/12/2012 22,000,000 – 30 cents exp 03/10/2013 2,500,000 – 25 cents exp 30/11/2013 7,500,000

MAJOR SHAREHOLDERS NUMBER OF SHARES %

West Minerals Pty Ltd 118,326,491 30.0

Heilongjiang Heilong Resources Investment Co Ltd 25,022,723 6.4

Kings Resources Group Co Ltd 22,500,000 5.7

China Kings Industry Pty Ltd 20,000,000 5.1

Manica Minerals Ltd 15,000,000 3.8

Blackmans & Associates Pty Ltd 14,470,558 3.7

Pearl Global Investment Ltd 13,333,333 3.4

Maiden Family Super Fund 10,521,751 2.7

Great Sea Wave Investment Pty Ltd 9,167,333 2.3

Macquarie Bank Ltd 8,333,333 2.1

Perpetual Corporate Trust Ltd 8,333,333 2.1

Supportive cornerstone investor : WEST MINERALS PTY LTD

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Board of Directors

Dr James Macdonald - Chairman Geologist; ex Chief Geoscientist for BHP Billiton; ex Exploration Manager, Homestake Chile

Mr Frank Bethune - Managing Director Mining Engineer; ex Mine Manager, Sunrise Dam, Western Australia; ex General Manager, Navachab gold mine, Namibia

Dr Ken Maiden - Executive Director Founding director of IBML; successful exploration geologist; ex CSR, MIM

Mr Luo Zhehong Chairman of Qinghai West Resources Co; Chairman of Qinghai West Rare and Precious Metals Co

Mr Chen Qiang Mining Engineer; international commodities trader & investor (Alternate to Mr Luo)

Mr Alan Humphris Corporate Advisor; ex Head of Hambros Australia; ex Director of JP Morgan Australia

Mr Wang Jinhua Mining & Industrial Engineer; MD of Kings Resources Group Co

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Namibia at a Glance

Area 824,269 km2

Population 2.1 million

Languages English (official), 10

ethnic languages

Independence 1990

Government Democratically elected

Currency U$ 1 = N$ 9

Linked to South African Rand

Economy Dependent on mining -

diamonds, uranium, gold, base metals.

Also fishing, agriculture, tourism

Infrastructure Well-developed

physical infrastructure

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Namibia

• Low political risk

• Well-developed mining industry

• Under-explored base metal trends

• Good infrastructure

- well-maintained sealed & gravel roads

- established rail system

- deep water port at Walvis Bay

- power stations & supply network

- good water supply network

- extensive mobile phone coverage

• Effective mining & taxation legislation

• Transparent mining & exploration

tenure system

• Effective bureaucracy

• Full convertibility for foreign investment

• Good exploration & mining support

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Craton Mining and Exploration (Pty) Ltd

• IBML‟s wholly-owned Namibian-registered subsidiary

• Successful exploration team based in Windhoek

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Exclusive Prospecting Licences (EPLs)

• Mineral rights are vested in the state

• EPLs provide exclusive rights to explore

an area

• They also provide exclusive rights for

Mining Licence applications

• Maximum area 1000 km2

• Grant of application requires approval of

proposed work programme & budget

• Tenements are valid for three years. They

can be renewed twice for two years each.

Additional renewals require ministerial

approval

• Reductions in area are required with each

application for renewal

• Annual reports on progress & expenditure

are required. These become open-file

reports after relinquishment of tenure

Map shows IBML’s projects in Namibia

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IBML’s Namibian Exploration Projects

Omitiomire 1 EPL 988 km²

• JORC Resource: 123 million tonnes („Mt‟) at 0.53% copper (0.25% Cu cut-off)

• 1.2 million tonnes contained copper in resource plus identified potential resource

• Plan for initial development of a small-scale operation based on oxide copper resource, to be

followed by a larger operation based on sulphide copper resource

Steinhausen 4 EPLs 3,689 km²

Kamanjab 4 EPLs 2,623 km²

Kalahari Copperbelt 3 EPLs 2,333 km²

Epembe Option to earn a majority interest

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OMITIOMIRE - IBML’s FLAGSHIP PROJECT

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Omitiomire Project – Infrastructure

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• The deposit extends 3,500m north-south

• It dips east at a shallow angle and plunges to

the NNE

• It remains “open” to north & northeast

• Potential for additional copper zones below

central part of deposit (see drill sections)

• Note wide drill hole spacing in the deeper

northern & north-eastern portions of the deposit

• Three clusters of closely-spaced holes show

near-surface zones of oxide copper proposed

for early mine development

Omitiomire Deposit

Outline of Omitiomire resource

showing drill hole locations

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West to East Section

• The deposit consists of three main lenses (A, B & C) and several smaller ones

• Note potential for additional copper zones below the existing drill holes

Drill section showing resource blocks and potential resource

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West to East Section

• The recently-discovered C Lens lies beneath the previously-defined resource and may extend

further to the west

• The deposit extends to the east at depth indicating underground mining potential

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• The deposit extends over 3,500m north-south, and plunges to the north.

• The C Lens extends south beneath the previously-defined A & B Lens resource

• The deposit remains “open” to the northeast

South to North Section

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Omitiomire Geological Model

The geological model identifies eight lenses: A Lens (yellow); B Lens (orange); C Lens (red); Central

Lens (green); Kaya Lens (grey); Mamba Lens (blue); Bruce Lens (pink) and Bruce Terrace Lens (purple).

Almost half the resource tonnage is within the B Lens

Isometric view of the 2012 resource wireframes

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Omitiomire Resource

Indicated + Inferred Resource Resource + Potential

Cut-off grade

Resource Grade Metal

Resource + Potential

Grade Metal

(% Cu) (Mt) (% Cu) (tonnes) (Mt) (% Cu) (tonnes)

0.1 193 0.43 825,000 301 0.45 1,367,000

0.2 168 0.47 784,000 269 0.49 1,315,000

0.25 136 0.53 712,000 230 0.53 1,228,000

0.3 117 0.57 661,000 203 0.57 1,155,000

Approx 70% JORC Indicated Status

• Wide drill hole spacing in deeper drill intersections in the northern part of the deposit

• Hence, much of the northern part of the deposit remains in the “Potential Resource” category

• With infill drilling, much of this is expected to fall into the JORC-compliant resource

Resource estimate by Bloy Resource Evaluation, Aug 2012

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Host Rocks

• The Omitiomire deposit is hosted by banded schist

• Copper is preferentially concentrated in dark (mafic) bands of amphibole-biotite-epidote schist

• The interlayered pale (felsic) bands of quartz-feldspar gneiss are barren

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Development Proposal

The Omitiomire primary sulphide copper deposit is oxidised to 20m depth and partly oxidised to 40m depth

IBML is considering a two-stage approach to bring Omitiomire into production:

• Phase 1 - a small project based on the near-surface oxide copper resource

• Phase 2 - a larger project based on the deeper sulphide copper resource

Oxide copper (blue-green) exposed in the bulk sample pit

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Phase 1 Development: Oxide Copper

Resource • 1.9 million tonnes (Mt) at 0.87% Cu

• 80% oxide, 20% sulphide

Mining • Three small pits, stripping ratio 1:1.8

• Initial annual production: 0.34 Mt at 1.2% Cu

Beneficiation • Crush – screen – dense medium separation (DMS) – mill

– sulphide float – solvent extraction – electrowinning

• Expected oxide copper recovery 80%

Scoping study in progress • Pit design

• Collection of a 50 tonne bulk sample for pilot plant testing

• Financial evaluation

Oxide copper in drill core

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Phase 1 Development: Oxide Copper

Excavating the oxide copper bulk sample pit, November 2012

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Proposed Sulphide Copper Pre-Concentration

• Bands of copper-bearing mafic schist are soft (< 150 MPa) & heavy (> 2.8 g/cm3)

• Barren felsic bands are hard (> 200 MPa) & light (< 2.7 g/cm3)

• This difference in physical characteristics permits cheap & effective pre-concentration by dense medium

separation („DMS‟)

• Testwork at Mintek Laboratories in Johannesburg has shown that this process doubles the grade of mill

feed to +1% Cu

Coarse-grained chalcocite (steel grey) in bands of mafic schist

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Sulphide Copper - Mineralogy & Mineral Processing

Primary copper mineralogy

• Mainly coarse chalcocite (Cu2S – 79% Cu)

• Minor bornite (Cu5FeS4)

• Trace chalcopyrite (CuFeS2)

• No pyrite (FeS2)

Mineral processing

• DMS pre-concentration followed by grinding &

sulphide flotation

• Tests show +50% Cu concentrate

• No deleterious elements (As Bi etc)

• Very minor Ag Au Pd Pt by-products

• Overall 90% sulphide copper recovery

Microscopic view of chalcocite

(pale blue) in mafic schist

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Proposed Flow Sheet

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Social & Environmental Impact Assessment

Specialist field studies

• Biodiversity/ecology

• Soils & land capability

• Air quality

• Surface water run-off & water balance

• Hydrogeological modelling

• Visual impact, noise, dust, traffic

• Socio-economic considerations

• Closure costing

Ongoing work

• Routine monitoring of groundwater, dust &

weather station

• Public participation meetings

Omitiomire project area

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Omitiomire - Geological Setting

Omitiomire & other copper prospects are hosted by the Ekuja basement dome

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Omitiomire - Discovery Potential

Craton‟s exploration priority is to expand the

copper resource at, and within trucking

distance of, the Omitiomire deposit

Detailed soil geochemistry of the Ekuja

Dome, shows extensive copper anomalies

close to Omitiomire

Shallow rotary air blast (RAB) drilling

showed copper associated with many of the

anomalies

These targets are being progressively

followed up by more detailed reverse

circulation (RC) drilling

Detailed soil geochemistry of the

Ekuja Dome. The “warm” colours

show geochemical anomalies

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REGIONAL DISCOVERY POTENTIAL

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Namibian Exploration Projects

• Omitiomire

• Steinhausen

• Kamanjab

• Kalahari Copperbelt

• Epembe

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Omitiomire & Steinhausen Projects

Extensive soil geochemical

surveys, supported by

geological mapping, have

identified priority targets

These are being followed up

by detailed exploration

including RC drilling

Soil geochemistry of the

Omitiomire & northern

Steinhausen tenements.

The “warm” colours show

geochemical anomalies

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Field Work

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Steinhausen Project

Two new tenements granted -

EPLs 4150 & 4151

Both have known copper occurrences,

not explored since the 1970s

Potential for primary & oxide copper

Review of previous exploration in

progress

Simplified geological map of the

Steinhausen project area,

showing main geological

elements & copper prospects

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Copperbelts of Southern Africa

In addition to the important Central

African Copperbelt of Zambia and the

DRC, there are two other significant

copper belts in southern Africa -

• the Kalahari Copperbelt in

Botswana & Namibia

• the Kaoko Copperbelt in northern

Namibia

In both belts, deposits are of the same

age & same style as in the Central

African Copperbelt

Craton has exploration licences in both

these belts

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Kalahari Copperbelt Project

Craton holds three EPLs with known copper occurrences

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Kalahari Copperbelt - Geological Setting

Copper in four geological situations -

• As copper-gold veins in Rehoboth Inlier basement rocks

• Regionally-developed (over 60 km strike) in slate of the Kagas Member

• In sandstone of the Tsumis Group above the Kagas Member (e.g. Noams prospect)

• In sandstone of the Nosib Group (e.g. Sib deposit)

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Kalahari Copperbelt Project

Rehoboth Inlier - copper-gold in veins

Noams prospect – copper in sandstone

Sib deposit – small resource identified

Kagas prospects - copper in carbonate

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Kamanjab Project (Kaoko Copperbelt)

Craton‟s EPLs & applications cover +100 km strike of the target zone in the basal Damara Sequence

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Kamanjab Project (Kaoko Copperbelt)

• The Kopermyn deposit (see photo) is similar to the

sandstone-hosted “footwall” deposits in Zambia

• Craton has identified copper occurrences over 10 km

along strike from the old mine

• These are partly in sandstone, as at Kopermyn, and

partly in overlying siltstone & carbonate strata

• Craton‟s tenements & applications cover over 100 km

of prospective strata

Kopermyn open-cut mine (1970s operation) - high grade copper up to 18m thick Copper occurrence along strike from Kopermyn

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The recent investment in African Mining Capital

Pty Ltd („AMC‟) secures IBML the option to earn

a 51% stake in the Epembe tantalum-niobium

(Ta-Nb) project in northern Namibia.

IBML is conducting a due diligence assessment

of the prospect over a period of six months, prior

to making a decision on whether to proceed with

an exploration joint venture on the project.

Epembe Project

Pyrochlore crystals in carbonatite

Looking northwest along the carbonatite ridge

The deposit is hosted in a body of carbonatite which

forms a prominent ridge. The mineral pyrochlore

contains concentrations of tantalum, niobium and

uranium. Mineralised zones range up to 25m in width

but are generally narrower. Three main strike-

extensive zones have been recognised

Exploration of the prospect is at an early stage and no

resource estimations have been carried out

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Maranoa Resources Pty Ltd

• South-central Queensland

• Exploration for nickel-copper in a mafic-

ultramafic igneous complex

AuriCula Mines Pty Ltd

• Cobar district, Central New South Wales

• Historic copper mines & other targets for “Cobar-

type” copper-gold

• JV with Glencore subsidiaries

Endolithic Resources Pty Ltd

• Mount Isa district, northwest Queensland

• Exploration for “Isa-type” copper

AUSTRALIAN PROJECTS

Magnetic image, Darkwater igneous

complex, Maranoa Project

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Priority 1: Omitiomire oxide copper resource

• Complete a feasibility study for mining & processing based on the oxide copper resource

• If the study is positive, apply for a Mining Licence and raise funds to develop the project

Priority 2: Omitiomire sulphide copper resource

• Focus exploration on increasing the resource at, and within trucking distance of, Omitiomire

• Postpone the previously-planned definitive feasibility study

Priority 3: Epembe Project

• Assess the potential for development of a tantalum-niobium operation

• If the assessment is positive, exercise the option to earn into the project

Priority 4: Other Namibian projects

• Conduct a scoping study for a small oxide copper mining & processing operation at Sib

• Continue exploration as planned on other projects

Priority 5: Australian projects

• Continue exploration on existing projects

COMPANY STRATEGY to end-2013

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IBML Contact Details

Address Suite 60, 47 Neridah Street

Chatswood, NSW 2057, Australia

Telephone +61 (0) 2 8223 3777

Fax +61 (0) 2 8223 3799

Email office@ibml.com.au

Website http://www.ibml.com.au www.ibml.com.au

Address Suite 60, 47 Neridah Street

Chatswood, NSW 2057, Australia

Telephone +61 (0) 2 8223 3777

Fax +61 (0) 2 8223 3799

Email office@ibml.com.au

Website http://www.ibml.com.au