February 2008

“Africa’s most active exploration company”

AIM Ticker – ZRLASX Ticker - ZRL

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Disclaimer

The information contained in this presentation is subject to updating, completion, revision, further verification and amendment without notice. This presentation does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in Zambezi Resources Limited (“ZRL”), nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, or act as an inducement to enter into any contract or commitment therefore.No representation or warranty, express or implied, is made or given by or on behalf of ZRL, any of ZRL’s directors, or any other person as to the accuracy or completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for such information or opinions or for any errors, omissions, misstatements, negligent or otherwise, or for any communication written or otherwise, contained or referred to in this presentation.Accordingly, neither ZRL nor any of the ZRL directors, officers, employees, advisers, associated persons or subsidiary undertakings shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon the statement or as a result of any admission in, or any document supplied with, this presentation or by any future communications in connection with such documents and any such liabilities are expressly disclaimed

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Zambezi Corporate Profile

Other Investmentsand JVs

Copper/GoldExploration & DevelopmentUranium JVs with Rio Tinto PLC and Lithic Metals & Energy (AIM:LMY); 17.5% of LMY valued at US$2.7m (1)

Zambia

Chairman – Brian RearManaging Director – Julian FordEx.Dir. Exploration – Geoff JohnsonNon Exec Director – Jeremy Wrathall

Grant Thornton: WH Ireland

188,185,279 10,400,000

~$76 million

US$13.4 million

Business Focus

Country of Operation

Directors

NOMAD: UK Brokers

Issued Capital

Market Capitalisation(1)

Cash(2)

Options & Warrants

Note 1) @ 31 Dec. 2007 Note 2) Based on Q4 2007, ASX report

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Zambezi - The Investment Opportunity

Corporate SummaryZambezi’s Strategic Position– Tenement & Project – Exploration Capacity– Corporate & Social

Investment– Joint Ventures

Projects– Cheowa (Copper-Gold)– Kangaluwi (Copper & Gold)– Pipeline of Projects

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Tenement & Project Position

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Exploration and Execution Capacity

Exploration Expertise– World’s best practise

People– 25+ Geologists

Drill Rigs– 3 Contracted Companies– 100,000m drilled in 2007– 9 Rigs contracted for 2008

Office & Logistic Support– Modern Zambian Office– Communications &

Logistics SupportProject Development Capacity– To be further enhanced in

2008

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Corporate & Social Investment (“CSI”)

People – Our Staff– Staff Training– HIV/AIDs Management

Stakeholder Engagement– Shareholders– Community– Government

Environmental Responsibility– World’s Best Practice

adopted

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Joint Ventures

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Cheowa Project (Glencore JV, 51%)

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Cheowa Project – Plan View

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Cheowa Section

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Kangaluwi Project – 100% ZRL

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Kangaluwi Project – Geochemical Targets

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Kangaluwi Project – 2008 drilling

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Project Generation – Other Projects drilled in 2007

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Zambezi – 2008 Milestones

Major Projects– Cheowa

Development Decision– Kangaluwi

Resource Development– Two Uranium JVs

Project Generation– 3 new targets drilled in

2007, awaiting assays– 4 New targets to be

drilled in 2008– Airborne Geophysics

just completed– Heliborne VTEM