High Grade Copper in Chile

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High Grade Copper in ChileEl Roble Copper Project Acquisition

Renewed Strategic Direction

Renewed strategy to build a diversified portfolio – near term production to complement

exploration activities, multiple geographies, and reduced risk

Comval Project

• The company’s exploration activities to date have prioritised key target zones at the Comval Project

• Encouraged by the first pass drilling results at Kapangawan, complementing the recent discoveries at

Bayag Bayag and Tagpura North skarns

• Further exploration work is required on all three targets

• Exploration work undertaken to date by Mining Group at Comval supports potential economics of

mine but difficult to fund required exploration in the current market conditions

Chilean opportunity

• Current market conditions has led to a renewed strategy

• Chilean opportunity has potential to provide near term, low CAPEX, high grade copper production

• Strategy to become self funded through discovery of economic widths of high grade near surface

copper using modern exploration techniques

• Historic surface waste dumps have additional potential for cashflow

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El Roble Key Highlights

• IOCG style copper/gold veins with up to 30% copper

• Historic mining (1800’s) with 9% copper cut off grade to 500m depth

• Multiple continuously mineralised veins 0.5m to 15m in width

• Mineralisation traceable over 6 kilometre strike length

• No modern exploration carried out

• Within one of the World’s premier IOCG provinces

• 25km from port city of Caldera

• Nearby toll treatment facilities available

• Staged payment entry

• Large contiguous concession package over favourable geology

• Drill ready targets

• Potential to identify very high grade near surface Cu ore that can be

processed at existing treatment facilities

• Medium (1-2% Cu) grade surface stockpiles available

Multiple

Mineralised

Veins

Potential for Low

CAPEX Cost

production

Proven High

Grade Copper at

Surface

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Excellent

Location

Favourable

Acquisition Terms

• Historic underground mines at Viuda, Estaca, Ecuador and Panga used copper cutoff grade of 9%

• Recently installed ore drive faces sampling averaging 4.90% Cu at Veta Gruesa and 16.25%Cu at Descobridora

• Hand sorted ore drive development ore is upgraded to plus 9% and shipped as direct SMELTER ore

• Material between 2.5% and 9% Cu is shipped as leach ore to ENAMI

• Super high grade in the oxide zone of mineralized veins, mineralogy consists predominantly of chalcocite, cuprite and covelite as secondary sulphides.

• Individual veins can be traced over 2-3 kilometers, always mineralized with variable width. Cu leached out in top 3-5m

El Roble – Very High Grade Copper

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Top- Overview of El Roble vein system

Bottom Left – high grade cuprite, covelite, chalcopyrite sample

Bottom Right – high grade atacamite, azurite, cuprite sample

El Roble – Location/Infrastructure

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Location and Infrastructure

• Coastal location, 25km from the

port of Caldera

• 90km by road to the mining city

of Copiapo

• Sealed road to within 10km of

project

• Two ENAMI toll treatment copper

plants located within 70km

Features

• World class IOCG province

• Previous surface exploration has

exposed multiple mineralized

veins

• No modern exploration or

exploration under sand cover

• Focus will be to discover repeats

of thicker sections mined

historically

• Consolidated land

holding covering over

6000 hectares of

prospective belt

• Major strike extend

covered by sand dunes

• Staged payments over 4

years for 68%

• Acquire additional 22%

post feasibility study

• Vendors final 10% free

carried until banking

El Roble Concessions

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El Roble – History of High Grade Production

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• Multiple strike extensive vein sets

• System mapped over 6km of strike at surface – additional strike extent covered by sand

• Orebodies occur as lenses along major structures

• Historic mines and piquinero workings traceable over 6km of strike

• Four major historic mine areas – vein width increasing with depth estimated 1 million T of ore mined at >9% Cu1

• Estimate of 500kt of waste dumps in the project area grading 1% to 2% Cu 1

• No modern exploration work ever conducted

1 – Stromberger, American Canyon Mining Chile Ltda internal report, 2000

Veta Gruesa vein showing leached zone at surface and high grade lens with depth - looking NE

El Roble Exploration Strategy

• Focus will be on delineating high grade tonnes.

• Systematically delineate all vein structures through mapping, trenching and sampling to locate economic lenses – low cost

• High resolution magnetics will be a powerful tool – copper associated with iron oxides

• Drill high grade targets

• Blue sky is a larger lower grade (0.6-1.5% Cu) deposit

• Regional evidence that high grade veins lead to larger deposits – i.e. Candelaria and Manto Verde

• Structural model suggests potential for a large deposit at depth

• Due diligence sampling has demonstrated mineralisation continuity and high grade at surface:

o Samples up to 28.83% Cu from production areas and 20.46% from surface sampling on undeveloped lens.

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Sample Type East North Level Sample ID Cu % Au(ppm) Fe(%) Co(ppm) Mo(ppm)

Select, Veta Gruesa Mine 344257.98 7007016.39 936 ACPCH-000045 6.67 0.35 37.40 880 610



Select, Descubridora Mine 343587.00 7007908.36 917 ACPCH-000048 28.83 1.67 15.75 170 120



Underground development face chip due diligence samples

El Roble – Continuous High Grade Copper

Width Cu% Au ppm Fe % Co ppm

Mo

ppm

1.00 20.46 0.17 22.40 200 190

3.20 13.40 2.71 26.80 868 57

1.60 13.09 0.24 20.45 2 244

2.00 8.08 2.50 16.90 50 30

4.74 5.00 0.24 35.47 2011 210

1.50 4.65 1.05 3.25 470 0

2.40 5.61 1.40 32.94 328 220

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Selected channel sample results

from due diligence sampling – note

this information is selected high grade results

and may not represent any potential orebody

• Potential for multi

commodity orebodies

El Roble Near Term Production Opportunities

MINING • Potential for near term cash flow from initial

small underground start up

• Ore grade stoping panels being assessed at

Descubridora and Veta Gruesa veins

• Extract high grade oxide ore and toll treat at

nearby ENAMI plants

• Potential to extract up to 5000T per month on

existing permit conditions

WASTE DUMPS• Potential for near term heap leach operation

from processing of historical waste dumps

• Estimated 500,000T of oxide material grading

1% to 2% copper

• Preliminary metallurgical testwork and survey of

dumps planned before end of 2013

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Top-Entrance to the middle level

of the Veta Gruesa mine looking

SW

Bottom- Veta Gruesa ore drive

face

Summary – MNE Renewed Strategic Direction

Renewed strategy to build a diversified portfolio – near term production to complement exploration

activities, multiple geographies, and reduced risk

– Comval, Philippines

• Economic potential has been shown

• Multiple attractive target zones require further drilling – difficult to access required level of

capital in current market conditions

• Given potential deposit size and funding requirements, other funding strategies being

considered

– El Roble, Chile

• Potential to provide near term low CAPEX, high grade copper production

• Evidence of widespread, near surface super high grade copper plus gold and other metals

• Historical mining, no modern exploration, drill ready targets

• Nearby processing facilities

• Potential for near term cash flows

– El Roble provides potential in the future for self-funding of a larger exploration program, de-risking

company and reducing future capital raising needs

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Head Office

Suite 1 Ground Floor

83 Havelock Street

West Perth, WA 6005

E: [email protected]

W: www.mininggroup.net.au

Zeffron Reeves, Managing Director


P: +61 419 714 495

Investor Relations

Market Eye

Ronn Bechler, Managing Director


M: +61-400 009 774

Contacts

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As at 26 July

ASX Code MNE

Total Shares¹ 191,442,724

Listed 20c Options ex 1 July 2014 40,422,230

Listed 5c Options ex 30 June

201565,042,830

Unlisted Options² 7,050,000

Top 20 Shareholders (as at 26 July)

41%

Share Price $0.027

Market Cap $5.12 million

Cash on Hand @ 30 June 2013 ~$1.72 million

Notes:

1. Total shares include: 188,842,724 listed ordinary shares and 2,600,000 unlisted

ordinary shares escrowed to 17 January 2014.

2. Total unlisted options includes: 1,500,000 Options Exercisable at $0.20 each on or

before 1 July 2014; 400,000 Options Exercisable at $0.55 each on or before 28

February 2014; 300,000 Options Exercisable at $0.60 each on or before 1 April 2015

; 50,000 Options Exercisable at $0.60 each on or before 14 May 2015; 500,000

Options Exercisable at $0.45 each on or before 15 July 2014; 3,750,000 Options

Exercisable at $0.20 each on or before 1 July 2015; 250,000 Options Exercisable at

$0.20 each on or before 13 Nov 2014; 300,00 Options Exercisable at $0.25 each on

or before 13 Nov 2015.

• Listed July 2011

• Acquired Comval from Cadan (TSX) in Jan 2012

� Comval Copper Gold Project has a number of

prospective target zones

� New opportunity in Chile as part of our renewed

strategic direction

Appendix – company overview

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Appendix – Mining Group Board

Board

Winton Willesee, Non-Executive Chairman

• Highly experienced director

• Strategy, company development, corporate

finance, company administration and

governance experience

• Currently Chairman and/or director of a

number of ASX listed companies

Zeffron Reeves, Managing Director

• Over 15 years’ mining and management

experience, from grass roots exploration

to underground mining

• Extensive technical, corporate and commercial

experience in Australia and offshore

Cobb Johnstone, Non-Executive Director

• Mining engineer with over 30 years’ experience

in copper, gold and metalliferous mining,

including both large open cut and underground

operations

• Previously General Manager at some of

Australia's largest mines, including KCGM,

Olympic Dam and Northparkes

• Successfully constructed and operated mines in

Zambia, China, Canada, Argentina and Australia

Robert Butchart, Non-Executive Director

• President & CEO of Cadan Resources with

extensive Philippines experience

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NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

This presentation (including information contained in this disclaimer) is not a prospectus nor an offer to subscribe for shares and has not been lodged with the Australian Securities and Investments Commission. Except for any liability

which cannot be excluded by law, Mining Group Limited (MNE) and its affiliates expressly disclaim and accept no responsibility or liability (including liability for negligence) for the contents of this presentation.

General

This presentation has been prepared for the consideration of interested parties in the equity funding of Mining Group Limited (MNE) and does not carry any right of publication or disclosure to any other party. This presentation is incomplete

without reference to and should be viewed solely in conjunction with the oral briefing provided by Company management or its advisors. Neither this presentation nor its content may be used for any other purpose without prior written

consent of MNE.

The information in this presentation is based upon information provided by the management of MNE as well as publicly available information and reflects prevailing conditions and our views as of this date, all of which are accordingly subject

to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of any information made available from the management of MNE and public sources.

The information contained in this presentation is of general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no

guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of

the particular situation.

Whilst the information presented and views expressed in this presentation and the oral briefing have been prepared in good faith, MNE accept no responsibility or liability to any party in connection with such information or views.

Competent person’s statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) (Applied Geology) MBA, MAIG), a member of the Australian Institute of Geoscientists and is an

employee of the Company. Mr Reeves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in

the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this report of the matters based on this information in the form and context in which

it appears.

Exploration Target

It is common practice for a Company to comment on and discuss its exploration in terms of target size and type. The term "Exploration Target" should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves

as defined by the JORC Code (2004), and therefore the terms have not been used in this context. Exploration Targets are conceptual in nature, and it is uncertain if further exploration or feasibility study will result in the determination of a

Mineral Resource or Mining Reserve.

Forward looking statements

Certain statements contained in this presentation, including information as to the future financial or operating performance of MNE and its projects, are forward-looking statements. Such forward-looking statements:

• are necessarily based upon a number of estimates and assumptions that, while considered reasonable by MNE, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and

contingencies;

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements; and

• may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices operating costs production prices, and results, capital expenditures, reserves and resources and

anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

MNE disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements.

All forward-looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are

cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.

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High Grade Copper in Chile