February 2014

Plumridge Nickel Project Update Fraser Range Nickel Exploration

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DISCLAIMER

Disclaimer

• This presentation has been prepared by Segue Resources Limited (Segue or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation should observe any such restrictions on the distribution of this presentation and warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation.

• This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should obtain their own independent advice from qualified financial advisors having regarding to their objectives, financial situation and needs. Segue nor any of their related bodies corporate is licensed to provide financial product advice.

• This presentation and information, opinions or conclusions expressed in the course of this presentation contains forecasts and forward looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied.

• There are a number of risks, both specific to Segue, and of a general nature which may affect the future operating and financial performance of Segue, and the value of an investment in Segue including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, manganese demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, foreign currency fluctuations, and mining development, construction and commissioning risk.

• You should not act or refrain from acting in reliance on this presentation, or any information, opinions or conclusions expressed in the course of this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the prospects of Segue. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before may any decision based on the information. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultant or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. An investment in the shares of the Company is to be considered highly speculative.

• The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. In relation to any statements pertaining to future exploration targets or conceptual exploration targets, the nature of the exploration target means that the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.

• This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Segue's other periodic and continuous disclosure announcements lodged with the ASX, which are available on the Segue website.

• Some statements in this presentation regarding future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements preceded by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions.

• The information in this presentation that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Dr Howard Carr, Technical Director, who is a Member of the Australian Institute of Mining and Metallurgy. Dr Carr has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Carr consents to the inclusion in the presentation of the matters based on the information in the form and context in which it appears.

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TODAY’S TAKE AWAY MENU

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Why Nickel? • At cost base • Mid-cycle commodity

Why Fraser Range? • Excellent track record • New metallogenic model

Why Segue? • Competitive Advantage

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Source: Rio Tinto 2013

• 50yr CAGR: 4.7% pa (2x global GDP CAGR) (source: ISSF)

• Stainless Steel = processed food, middle class kitchens, petrochemicals • Ni Alloys =jet turbine blades; constant 5% CAGR (source Boeing)

• Solid demand, inc. supply = surplus & record LME inventory Rotary Kiln Electric Furnace: • optimal feedstock: >1.5% Ni, MgO/SiO2 ~0.6, Fe/Ni ~8 • Rapidly declining resource, exponential premium for grade

WHY NICKEL?

Source: Wood McKenzie

Source: Comtrade, Salva Report Future Price Risk Mitigation: Hi grade NiS !

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Kambalda

Location Years Expend. ($2013)

Resource (Ni metal)

Discovery Cost

Notes

Kambalda 1966-1974

$800m 9000kt $78/t Adjacent to Kalgoorlie, thin cover, Woodall’s “dream team”, modern tech., open ground.

Nova-Bollinger

2012-2013

$25m 325kt $89/t Remote, blanket cover, skills competition, difficult market conditions, tightly held ground

Despite challenging conditions Fraser Range has excellent track record

WHY FRASER RANGE?

Source: Hronsky, 2007

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ALBANY- FRASER-MUSGRAVE

d)

Source: a) Moores, 1991, b) Burrett & Barry 2000, Karlstrom et al, 2001 c) Wingate et al, 2002, d) Giles et al, 2004

MP = Musgrave Province

AFP = Albany Fraser Province

* =1100-1300Ma (Aitken & Betts, 2008)

*

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ALBANY- FRASER-MUSGRAVE

Source: Seat et al, 2007)

Musgravian Albany-Fraser

Stage 1 1324-1296 Ma 1340-1260 Ma

Stage 2 1200-1150 Ma 1215-1140 Ma

Source White et al, 1999 Spaggiari et al, 2009

Nebo Babel • Pipe-like undeformed, late-stage intrusion • Post-Musgravian Orogeny, intrusion @ 1068 Ma

(Godel et al, 2011) • Mixing of subduction metasomatised mantle &

deeper mantle plume (Godel, et al 2011)

Nova Bollinger • Pipe-like undeformed, late stage intrusion • Post AFO Orogen 1080Ma (est. Carr, 2014) • Gersdorfite (Ni,Fe,Co,As,S) = metasomatised

(subduction) mantle (Benat et al, 1996) Source: Sirius, 2013)

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ALBANY- FRASER-MUSGRAVE

Source:” Firstlook” Proceedings National Academy of Science, 2008)

(source: GSWA)

Subduction along the margin of A-F-M Plume /

slab interaction:

NiS deposits

closely spaced not

isolated centres

(source: Ocean Drilling Programme, v 125)

Dehydration of subducted slab increases mantle melting

Source: Good & Naldrett, 1993

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ALBANY- FRASER-MUSGRAVE

(Source: CSIRO, Sirius, Fitzgerald 2013)

Alb

any-

Fras

er-

Mu

sgra

ve

A-F-M

Nova Bollinger: 14.6mt @ 2.2%Ni (2.5% Ni eq.)= 325kt Ni

Nebo Babel: 392mt @ 0.31%Ni (0.51% Ni Eq.) = 1210kt Ni

(lo

g sc

ale)

A world class Nickel province after the first 2 discoveries !

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Northern Territory

Great Australian Bight

Nebo Babel

Nova Bollinger

500km

Plumridge Nickel

Proterozoic Mafic Intrusives (Hoatson et al 2006, D’Ercole & Lockwood, 2004, Meixner & Hoatson 2003)

Gravity high axis (Wellman 1976a)

Thick Adelaidean cover (Geoscience Australia)

Proterozoic collision zone, and dominant stress direction (Wingate & Evans 2003)

Legend

A-F-M belt: >1500km of accessible, prospective terrain

ALBANY- FRASER-MUSGRAVE

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ALBANY FRASER- THE EYES HAVE IT !

Nova’s “eye” signature = crosscutting bulge in

1st

order magnetic fabric

70

0,0

00

mE

80

0,0

00

mE

50

0,0

00

mE

60

0,0

00

mE

6,700,000 mN

6,600,000 mN

6,500,000 mN

6,400,000 mN

40

0,0

00

mE

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DISCOVERY - THE EYE

Targeted as a deformed intrusion, sill

complex, dome or layered igneous

complex – all prospective for nickel

Stage 1: target definition – the Eye is

one of 5 targets identified and the

first to be explored

Source: Sirius

Nova’s “eye” is a subtle magnetic feature Late stage intrusions along the A-F-M belt at favourable structural sites

Source: GSWA

Source: Segue Source: GSWA

Plumridge Nickel

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SEGUE’S NOVA-STYLE NiS EXPLORATION PROCESS

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May 2014 Objective: 3x 400m strike, Ground EM conductors, coincident with bedrock Ni >0.15%

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SEGUE: EYE, EYE SIR!

Legend

Low resolution (400m line spaced)

aeromagnetic “eye” targets

High resolution (100m line spaced) aeromagnetic

“eye” targets

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SEGUE’S COMPREHENSIVE EM SURVEY

• Maximum cover depth ~ 38m • No lignite • 123 line km (1230 stations) • 100m stations, 400m transmitter loop • 3months duration

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SEGUE’S COMPREHENSIVE EM SURVEY 2

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SEGUE’S COMPETITIVE ADVANTAGE

• Plumridge: 2,240km2 of prime Fraser Range tenements

• 100% hi res. (100m-spaced) aeromagnetic data

• Newexco geophysical consultants

• >20,000m historical AirCore drilling: regional depth of cover & lignite map

• 16 “eye” targets identified, fully funded & approved work programme

• 1230 station Ground EM survey underway

• Quality WA gold, uranium, minerals sands, nickel projects (1,350km2)

• Intensive (>150 person) roadshow, share price up trend, successful fund raising

• Diverse experienced board; average 39 yo; >30 cumulative board years

• Supportive major shareholders

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CORPORATE SUMMARY

ASX stock code: SEG

Share price: 1.1¢

Shares on issue: 1,258.4m

Options on issue: 113.3m

Market capitalisation: $13.8m

Cash at bank: $1.1m

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Company Overview

Share Price Performance

Source: CommSec

Directors

Steven Michael Managing Director

Dr Howard Carr Technical Director

Nicholas Ong Non-Executive Director

Matthew Foy Non-Executive Director

-¢

0.2¢

0.4¢

0.6¢

0.8¢

1.0¢

1.2¢

1.4¢

Sep 13 Oct 13 Nov 13 Dec 13 Jan 14 Feb 14

Technical Director

appointed

Fraser Range acquisition announced

16 “eye” targets

identified

RM Capital research report

The Next Small Cap

report

Ground EM survey

commenced

Institutional placement completed

Fraser Range acquisition completed

Pardoo exploration

update

Intensive marketing campaign – over 150 brokers, fund managers and investors

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• Nickel: a strong price performer ~ 3 years out

• Fraser Range: highly prospective for multiple Nova-Bollinger deposits

• Segue: one of the largest tenement holders in the Fraser Range

• Technically focussed; repeatedly successful consultants

• Exploration is underway; funded out of existing cash reserves

• Targeting “Eyes” with coincident Ground EM conductor(s) & bedrock Ni >0.15%

• RC drilling of strongest, most strike-extensive conductors with highest bedrock Ni;

mid 2014

SUMMARY

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Segue Resources Ltd ASX Code: SEG Unit 1, 124 Stirling Highway North Fremantle WA 6159 Phone: +618 9486 4699 Email: admin@segueresources.com Website: www.segueresources.com

See us at Booth 28

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