ZincOx Resources plc

Corporate OverviewFebruary 2013

Using today’s technologyUsing today’s technology to make yesterday’s wasteto make yesterday’s waste into tomorrow’s resourceinto tomorrow’s resource

“ubi est squales est ære”

Disclaimer

This document is for informational purposes only and must not be used or relied upon for the purposes of making

any investment decision or engaging in any investment activity. No reliance may be placed for any purpose

whatsoever on the information contained in this Presentation, nor on assumptions made as to its completeness. No

representation or warranty, express or implied, is given by ZincOx Resources plc or any of its advisers, directors,

officers, employees or agents, as to the accuracy, fairness or completeness of the information or opinions contained

in this Presentation and no liability is accepted for any such information or opinions (which should not be relied

upon) or for any loss howsoever arising, directly or indirectly, from any use of this document or its contents or

information expressed in the Presentation. The information contained in this Presentation is subject to amendment,

revision and updating in any way without any notice or liability to any party.

Certain statements in this document relate to the future, including forward looking statements including but not

limited to those with respect to the financial position and strategy of the Company, the price of zinc, the estimation of

mineral resources and reserves, the realisation of mineral reserve estimates, the timing and amount of estimated

future production, costs of production, capital expenditures, costs and timing of development of new deposits,

success of exploration activities, permitting time lines, currency fluctuations, requirements for additional capital,

government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes

or claims and limitations on insurance coverage and the timing and possible outcome of pending litigation. These

forward looking statements involve known and unknown risks, uncertainties, assumptions and other important

factors that could cause the actual results, performance or achievements to be materially different from future

results, performance or achievements expressed or implied by such statements. Such risks, uncertainties,

assumptions and other important factors include, among other things, general economic conditions, exchange rates,

interest rates, the regulatory environment, structural changes in the industries in which the Company operates,

competitive pressures, selling price and market demand. The forward looking statements in this document reflect

views held only as of the date of this document and the Company expressly disclaims any intention or obligation to

update or revise any forward looking statements, whether as a result of new information, future events or otherwise,

except in accordance with applicable securities laws.

Business Overview

Zinc rich steel industry waste (EAFD)

Free

ZincOx

Recycling

Plant

Zinc bearing product Sold to

Zinc Smelters (90% Revenue)

Iron bearing product Sold to

Steel Mills(10% Revenue)

First Plant in S. KoreaProduction ramping up

Game Changing Technology

Global Roll-outs planned

Corporate Overview

History

95% of zinc comes from sulphide ore deposits

ZincOx set up (1998) to develop non-sulphide zinc mines

Each one different – bespoke solution

Exceptional technical team, >128 years of zinc experience

Technology driven but not technology provider

Track record in development of game changing technology

Modify existing technology, not “black box”

Objective: To become the largest and most sustainable zinc recycler

Status

HQ in Surrey (7 - strategy, finance, etc)

Technical support in Belgium (12 - technical and development)

Regional offices: USA (5), Thailand (2), Korea (5578)

AiM quoted

113 million shares (fully diluted)

FEED - Electric Arc Furnace Dust (EAFD)

Steel produced by: 1. Reduction of iron ore in Blast Furnaces (e.g.Posco) 2. Recycling scrap in Electric Arc Furnaces (EAF)

Electric Arc Furnaces generate waste Dust (EAFD)

Scrap contains steel that is increasingly galvanised (zinc coated) During iron melting zinc is driven off into the EAFD as an oxide

Dust contains: zinc: 18-24% (average mine: 5-6% zinc) iron: 26-30%

cadmium, lead: <2% (harmful elements = Hazardous Waste)

Korea, strictly controlled landfill (disposal fee)

TECHNOLOGY – Rotary Hearth Furnace (RHF)

Based on established (“iron making”) technology

modified to optimise for zinc recovery and energy efficiency

Unlike existing processes

- It produces no waste

- Has more product revenue

Double Breakthrough

Environmentally superior

Economically superior (no subsidy required)

RHF – Feed & Products

BriquettesEAFD (83%)coal (14%)binder (3%)

RHF

27 meters

1,300oC

NO WASTE

gas

solid

ZincSmelter

ElectricArc

Furnace

heat

ZHBIIron Product50% iron 50% slag

HZOZinc Concentrate58% zinc+ lead + salts

EAFD

KRP

Korean Recycling Plant

Korean Scrap recycling

No. 2 scrap importer

No. 1 concentration of scrap recycling

Steady growth

101

South Korean Recycling Project

100 km

Scrap Recycling Plants

( EAFD generation)

Until ZincOx, EAFD has been landfilled

ZincOx Supply Agreement10 year contracts with all steel recyclers 400,000 tpa EAFD @ 23.1% zinc EAFD only paid for at high zinc price Transport paid by mills at low zinc prices

Strong Support Korea Iron and Steel Association Zinc Industry Government

Foreign Investment Zone StatusYears 1-5, tax free (Years 6-7, 11% tax)Tax free import of capital goods

Site LeaseGovernment purchase site, US$ 20 million50 year renewable lease, 5 years rent free

KRP92,000 tpa zinc in conc

100,000 tpa Fe in ZHBI

Korea Zinc

smelter

600,

000t

zinc

in c

onc

importe

d per

annum

KRP 1 and 2

KRP - Development Plan

TOTAL

Capacity

EAFD tonnes per annum 400,000

Zinc grade Concentration 23%

Zinc concentrate tonnes per annum 162,000

Zinc contained tonnes per annum 92,000

Iron Product (ZHBI) tonnes per annum 190,000

Capital cost US$ million 210

Financing

Equity US$ million

Offtake US$ million

Bank US$ million

Start Up

EBITDA Zinc = US$2250/t US$ million pa

TOTAL Phase 1 Phase 2

Capacity

EAFD tonnes per annum 400,000 200,000 200,000

Zinc grade Concentration 23% 26% 22%

Zinc concentrate tonnes per annum 162,000 83,000 79,000

Zinc contained tonnes per annum 92,000 49,000 43,000

Iron Product (ZHBI) tonnes per annum 190,000 79,000 111,000

Capital cost US$ million 210 110 100

Financing

Equity US$ million

Offtake US$ million

Bank US$ million

Start Up

EBITDA Zinc = US$2250/t US$ million pa

TOTAL Phase 1 Phase 2

Capacity

EAFD tonnes per annum 400,000 200,000 200,000

Zinc grade Concentration 23% 26% 22%

Zinc concentrate tonnes per annum 162,000 83,000 79,000

Zinc contained tonnes per annum 92,000 49,000 43,000

Iron Product (ZHBI) tonnes per annum 190,000 79,000 111,000

Capital cost US$ million 210 110 100

Financing

Equity US$ million 60

Offtake US$ million 50

Bank US$ million 0

110

Start Up Q1 2012

EBITDA Zinc = US$2250/t US$ million pa 31

TOTAL Phase 1 Phase 2

Capacity

EAFD tonnes per annum 400,000 200,000 200,000

Zinc grade Concentration 23% 26% 22%

Zinc concentrate tonnes per annum 162,000 83,000 79,000

Zinc contained tonnes per annum 92,000 49,000 43,000

Iron Product (ZHBI) tonnes per annum 190,000 79,000 111,000

Capital cost US$ million 210 110 100

Financing

Equity US$ million 60

Offtake US$ million 50

Bank US$ million 0

110

Start Up Q1 2012 H2 2013

EBITDA Zinc = US$2250/t US$ million pa 53 31 22

TOTAL Phase 1 Phase 2

Capacity

EAFD tonnes per annum 400,000 200,000 200,000

Zinc grade Concentration 23% 26% 22%

Zinc concentrate tonnes per annum 162,000 83,000 79,000

Zinc contained tonnes per annum 92,000 49,000 43,000

Iron Product (ZHBI) tonnes per annum 190,000 79,000 111,000

Capital cost US$ million 210 110 100

Financing

Equity US$ million 60 60 na

Offtake US$ million 40 50 na

Bank US$ million 110 0 na

210 110 na

tentative

Start Up Q1 2012 H2 2013

EBITDA Zinc = US$2250/t US$ million pa 53 31 22

KRP1 Plant Layout

View 1

View 2

KRP Construction12 months constructionCompleted on schedule and budget >500,000 man hoursNo lost time accidents

Korean Recycling Plant January 2012

EAFD silos

Mega-siloBriquetting

tower

Coalpulverising

Office

Gas handling

Hotbriquetting

tower

RHF

Workshop

ZHBIstorage

First Zinc Concentrate (27 April 2012)

Iron Product

(ZHBI)

Zinc OxideConcentrate

(HZO)

KRP Production Status -1

Process Confirmation

Zinc recovery rate 89-94% (target: 97%)

Zinc concentrate grade 63%-66% (target 58%)

Iron metallisation 70-85% (Target 80%-85%)

Sales

All zinc concentrate sold to Korea Zinc

Iron product (ZHBI) undergoing consumer trials

Outstanding

Long term remedial action for heat exchanger

Production Ramp Up, 6/12 – 1/13

Confidential

Consensus long term zinc price

ZincOx long term zinc price

zinc price

12/2/13

KRP1 Cash Flow Estimate (in full production)

Total Revenue

Zinc Revenue

Operating Cost

EBITDA

ZHBI (iron) Revenue

KRP 2 Status

Basic engineering study completed.

Savings:

Mega silo, infrastructure, HBI tower, offices, storeroom,

control room, lab

Additional cost:

New: RHF, briquetters, mixers, foundation work

Cost US$100-110 million

Detailed engineering commenced

Standard Chartered Bank mandated

Production H1 2014

Global Roll-Out

Global Opportunity

1/3 of steel produced by recycling scrap

EAFD contains zinc, 18-24% (average mine: 5-6% zinc, underground)

>6,000,000 tonnes of EAFD produced annually from about 1,000 sites

=1.3 MMt Zn pa (zinc production 12 MMt pa)

Contains Cd, Pb Hazardous

Landfill or

Recycling. Current technology: less profitable

generates waste (no iron product)

needs subsidy (>US$80/t?)

Developed countries, landfill expensive mostly recycled

Developing countries, landfill cheap landfilled

50% of EAFD landfill (2008)

ZincOx’s “game changing” technology works without subsidy.

Transforms waste into a resource

Target Regions

200/1200

200/400

400/400

Target Regions

Ktpa RHF potential/EAFD prodn.

Advanced

Other

New 51% JV

200/400

200/300200/

1500

200/200

200/350

Russian Joint Venture

51% ZincOx

49% Magnezit (Ural Recycling LLC)

Major magnesite mine, at Satka (since 1901)

Largest refractory producer in FSU

1.5 million tonnes per annum

75% to steel industry, of which 25% to Electric Arc Furnaces

Magnezit recognised superiority of ZincOx technology

approached ZincOx to form JV

visited KRP in May, CEO plus senior management team

Work Programme

2012/13 Project Definition

2013/14 Bankable Feasibility

2015 Construction

2016 Production

Growth Potential

200k

ARP - Turkey

ARP - Turkey

200k

Growth Potential

200k

200k

200k

SEARP - Thailand

ARP - Turkey

Short term (2013) objectives

• KRP1

Full capacity

Iron product sales

KRP2

Financing

Development commences

• Plant 2

Environmental permitting

EAFD contracts

• Plant 3

Environmental permitting

Summary

• Focused on Korean Recycling Plant

• 400,000 tpa EAFD 10 year supply agreed (23.1% zinc)

• Phase 1

• to produce 76,000tpa zinc oxide concentrate

Ramping up from May 2012

• Full year EBITDA US$31 million pa (zinc = US$2,250/t)

• Phase 1+2

• to produce 152,000 tonnes of zinc oxide concentrate Q2 2014

• EBITDA US$53 million per annum (zinc = US$2,250/t)

• Excellent Additional Growth Potential

• Plans to “roll out” concept in other countries

Using today’s technology to make yesterday’s waste into tomorrow’s Using today’s technology to make yesterday’s waste into tomorrow’s

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