Mines & Money (Hong Kong) Presentation

Aspire Mining Limited

March 2011

Forward Looking Statements & Disclaimer

Forward Looking Statements

Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or

beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements

necessarily involve known and unknown risks and uncertainties which may cause the Company’s actual performance in future periods to differ materially

from any express or implied estimates or projections.

Disclaimer

No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be

correct. Except for statutory liability which cannot be excluded, each of the Company, its officers, employees and advisers expressly disclaims any

responsibility for the accuracy , fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in

this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence

of any information in this presentation or any error or omission there from. Any opinions expressed in the presentation are subject to change without notice.

All persons should seek appropriate professional advice in reviewing or considering the presentation and all other information with respect to the Company

and evaluating the Ovoot Coking Coal Project and the other Mongolian coal assets. The presentation does not purport to contain all of the information that

may be required to evaluate all of the factors that would be relevant in determining whether to deal in the Company’s securities, including but not limited to

any person’s objectives, financial situation or needs. Each person should make, and will be taken to have made, its own investigation, assessment and

analysis of the information in this presentation and other matters that may be relevant to it considering whether to deal in the Company’s securities.

This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, Canada, Japan, or in any jurisdiction where such distribution

or offer is unlawful. Neither this presentation nor a copy of the presentation can be taken or transmitted into the United States of America, its territories or

possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person as defined in Regulation S

under the US Securities Act 1933, as amended (the “Securities Act”). Any failure to comply with this restriction may constitute a violation of United States

securities laws. The presentation and any oral statements made in connection with it are not an offer of securities for sale in the United States.

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I am a Country

• Which has an indigenous populationindigenous population with a long and proud history

• Which is one of the least populatedleast populated countries in the world, with vast deserts

• That is resource rich resource rich particularly in gold, coal and iron ore but hampered by lack

of infrastructure

• For which ChinaChina has become the most important trading partnerimportant trading partner in recent years

• That has a 99% literacy rate

• Which has one of the most successful economiessuccessful economies and stock marketsstock markets since the

GFC

3

AUSTRALIA MONGOLIA✓ ✓

Ovoot Exploration Camp

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Mongolian Projects

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Ovoot Project:330.7mt JORC Resource

Ovoot Coking Coal Project

6

Zuun Del Prospect

JORC Resource area

Hurimt

Ovoot Raw Coal Quality Data Update

IM % Ash % Volatiles % Sulphur % CSN Energy

Kcal\kg

Raw Coking Coal

Quality (In Situ)

0.7% 20.2% 26.7% 1.1% 7.5 6,541

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� Data based on 19 holes and 254 samples (74.7% of total samples)

� Further 86 samples awaiting processing at lab

Yield % Ash % CSN

Initial Coal Washing

Test Results

87% 7.7% 8.7

� Results for batches 1 and 2 theoretical yield at F1.60 cut

� Represents 124 samples (36.4% of total samples)

What is the Value of Aspire Mining Limited?

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1. Assumes 65% washing yield from non oxide coal to product2. 93.3Mt Measured, 182.4Mt Indicated, and 55.0Mt Inferred

Resource 330.7 MtEnterprise Value

~ US$560mil

$2.50/t of saleable coal

$2.80/t of saleable coking

coal 1

2

World Coking Coal Provinces

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Mature RegionRamp-up regionEmerging region

N.E & S.E BC (USA)N.E & S.E BC (USA)

Appalachia (USA)Appalachia (USA)

Poland, GermanyPoland, Germany

Shanxii, ChinaShanxii, China

Moatize (Mozambique)Moatize (Mozambique)

Kuzbass (Russia)Kuzbass (Russia)

Elga & E.SiberiaElga & E.Siberia

Mongolia/SouthGobiMongolia/SouthGobi

Kalimantan (Indonesia)Kalimantan (Indonesia)

Bowen Basin (Australia)Bowen Basin (Australia)

Why the Interest in Mongolian Coal?

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• Mongolia is expected to be a major supplier to China, the fastest growing market for Coking Coals!

Chinese Coking Coal ImportsChinese Coking Coal Imports

Fastest Growing Provinces in China

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Source: SouthGobi

Eastern ChinaGDP per capita = US$4,789FA investment growth = 12%

Central ChinaGDP per capita = US$2,817FA investment growth = 16%

Western ChinaGDP per capita = US$2,499FA investment growth = 37%Proportion of fiscal stimulus

allocated = 62%

Ovoot projectOvoot project

Tavan TolgoiTavan TolgoiOvoot TolgoiOvoot Tolgoi

Comparing the Value of Coal Deposits

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Coking Coal deposits are substantially more valuable than exportthermal coal

Comparing the Value of Coal Deposits

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What is sold in the first 25 years drives Net Present Value

Value of Riversdale: Benga Deposit

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1. 25 year mine life at 20mtpa ROM – 100% of Benga Project

Reserve 502 Mt (100%)Enterprise Value

= US$4bn

- US$0.5bn (less cash & value of ZAC

Anthracite mines)

- US$2bn (less value of Zambeze project )

US$1.5bn Value for 65% of Benga deposit

$9.20/t of saleable coal (export)

$15.30/t of saleable coking coal

1

Value of Mongolian Mining Corp.

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1. Based on disclosed washing yields to final product2. Applied to resources above 300m. Note that recoverable reserves are 182mt of both coking and

thermal coals.Total resource would support 15mtpa ROM for 25 years.

Resource 423 Mt

1

1

1

2Enterprise Value

~ US$4.7bn

- US700m (less cash)

= US4.0bn

$14.80/t of saleable coal

$26.30/t of “saleable” coking coal

What is the Value of Aspire Mining Limited?

16

1. Assumes 65% washing yield from non oxide coal to product2. 93.3Mt Measured, 182.4Mt Indicated, and 55.0Mt Inferred

Resource 330.7 MtEnterprise Value

~ US$560mil

$2.50/t of saleable coal

$2.80/t of saleable coking

coal 1

2

Relative Values

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…….Aspire looks undervalued.Aspire looks undervalued

Why this Undervaluation?

Not suggesting we deserve an immediate 10x ratingNot suggesting we deserve an immediate 10x rating

• Need full washing yield analysis

• Need to articulate development time frame

• Articulate logistics solutions including rail

• Capex and Operating estimates

• Time

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Test Results: May 2011Test Results: May 2011

✓Rail Scoping Study: July 2011Rail Scoping Study: July 2011

✓

Rail PFS: March 2012Rail PFS: March 2012 ✓Scoping Study: June 2011Scoping Study: June 2011 ✓

The Goal is Clear!

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Contact details

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Aspire Mining Limited

ABN: 46 122 417 243

ASX Code: AKM

Unit 2, 454 Roberts Road, Subiaco,

Western Australia, 6008

Web: www.aspiremininglimited.com

David Paull : Tel : +61 8 9381 1995

Managing Director Mob : +61 (0) 407 22 5291

Email: david@aspiremininglimited.com

Competent Person StatementThe technical information contained in this announcement in relation to the JORC Compliant Coal Resource for the Ovoot Coking Coal Project in Mongolia has been reviewed by Mr Chris Arndt and Dr Bielin Shi of CSA Global Pty Ltd. Mr Chris Arndtt is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient experience which 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 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Bielin Shi has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Arndt and Dr Shi of CSA Global Pty Ltd consent to the inclusion in the announcement of the matters based on this information in the form and context in which it appears.