20 November 2012 Listed Company Relations

New Zealand Exchange Limited

Level 2, NZX Centre

11 Cable Street

Wellington, New Zealand

Company Announcements Platform

Australian Securities Exchange

10th Floor, 20 Bond Street

Sydney

NSW 2000

AGM PRESENTATION BY MANAGING DIRECTOR

Bathurst Resources Limited (ASX & NZX: BTU) encloses a copy of the presentation made by Mr. Hamish Bohannan, the Company’s Managing Director and CEO, at the Annual General Meeting of Shareholders held today in Sydney. For and on behalf of Bathurst Resources Limited

Tim Manners CFO & Joint Company Secretary

ENDS

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ANNUAL GENERAL MEETING

NOVEMBER 2012

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IMPORTANT NOTICE 2 This presentation has been prepared by and issued by Bathurst Resources Limited (“Bathurst”) to

assist it in informing interested parties about the Company and its progress. 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. You should not act or refrain from acting in reliance on this presentation material. This overview of Bathurst 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 Company’s prospects. 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 and making any investment decision. Neither the Company nor its advisers have verified the accuracy or completeness of the information, statements and opinions contained in this presentation. Accordingly, to the maximum extent permitted by law, the Company and the advisers make no representation and give no assurance, guarantee or warranty, express or implied, as to, and take no responsibility and assume no liability for, the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission, from any information, statement or opinion contained in this presentation. Reports and Announcements can be accessed via the Bathurst Resources website – www.bathurstresources.com Forward-Looking Statements: This presentation includes certain “Forward-Looking Statements”. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding forecast cash flows and potential mineralisation, resources and reserves, exploration results, future expansion plans and development objectives of Bathurst Resources Limited are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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♦ Listed on the ASX in 2007; NZX in 2010 (ASX & NZX: BTU)

♦ S&P ASX 200 Index

♦ New Zealand coal producer

♦ Wellington office opened by NZ Prime Minister

♦ Flagship is Buller high quality metallurgical coal project

♦ 94.5 mt resource* with significant exploration potential

♦ High quality metallurgical coal for export

♦ Well located for rail, port, power and infrastructure

♦ HoA’s for coal sales over 67.5% of first 5 years production

♦ Takitimu mine near Nightcaps, South Island

♦ Expansion into Coaldale block

♦ Current customer base includes food processing, schools and hospitals

♦ Existing infrastructure

BATHURST CAPITAL STRUCTURE AS AT 30 SEPTEMBER 2012

ASX/NZX CODE BTU

SHARES ON ISSUE 696.7M

OPTIONS ON ISSUE 61.2M

MARKET CAP (30 SEPT 2012) A$ 279.24M

DEBT A$ 2M

CASH (30 SEPT 2012) A$ 39.7M

SUBSTANTIAL HOLDERS

BANK OF AMERICA 10.9%

L1 CAPITAL 11.3%

MATHEWS CAPITAL 7.6%

COUPLAND CARDIFF 6.3%

SHAREHOLDING

AUSTRALIAN/OTHER 86.06%

NEW ZEALAND 13.94%

BULLER COAL

EASTERN COAL

BATHURST RESOURCES

* Refer Appendices for detail on reserves and resources & Competent Persons Statement

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HIGHLIGHTS - 2012

♦ Wellington office opened by NZ Prime Minister

♦ Mediation with residents’ group

♦ Climate change decision upheld (under further appeal)

♦ Revised plan for infrastructure

♦ Expansion into Coaldale block

♦ OIO for Takitimu land acquisition

♦ Stage 1 port upgrade at Westport

♦ Increase in resources & reserves

♦ Sustainable Business Council

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THE BULLER PROJECT F

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ESCARPMENT APPROVALS ♦ West Coast Environmental Network/Royal Forest & Bird appeal on environmental grounds

o Hearing commenced 29 October 2012

o Court currently in recess – hearings recommence 25 November 2012

o Decision expected Q1, 2013 o Can only be appealed on a substantive point of law

♦ West Coast Environmental Network/ Royal Forest & Bird on Climate Change impacts

o Process running parallel to Environment Court hearing

o 30 April 2012 - Initial Environment Court decision found in Bathurst’s favour

o Further appeal lodged - 24 August 2012 original decision upheld in the High Court o Decision appealed 11 September 2012 – awaiting further hearing date

♦ DOC Access & Concession Pending

o Application lodged

o No major issues raised

o Final review in progress

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ESCARPMENT MINE FOOTPRINT F

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REVISED INFRASTRUCTURE PLAN F

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AERIAL CONVEYOR F

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PORT UPGRADE

♦ Stage 1 of planned NZ $ 30 m upgrade at Westport ♦ NZ $5 million ♦ 9,000 tonne storage capacity ♦ Completion December 2012

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RESOURCES & RESERVES

♦ North & South Buller - 154 hole drilling programme

♦ Increase in total reserve South Buller of 76% to 23.8 mt product

coal ♦ Increase in Escarpment reserve (product coal) to 3.8 mt

♦ Increase in total resource company wide of 11% to 94.5 mt

♦ Maiden reserves for Cascade (0.6 mt) & Coalbrookdale (1.6 mt)

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EASTERN COAL

♦ Expansion into Coaldale block ♦ Strategic land acquisition ♦ Stevenson Mining Limited appointed contractor ♦ Exploration in adjacent permits

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COKING COAL PRICE TRENDS

♦ Market volatility over the last 12 months

♦ FYE 2012 HCC quarterly price range US$205 to US$315

♦ Q1 FY 13 - US$225, Q2 FY 13 - US$175

♦ Long term forecast for HCC is US$235

♦ China and India GDP growth will remain strong

♦ Global steel market will need an additional 130mt of

annual HCC supply by 2030 to underwrite global demand

♦ All the key long term fundamentals remain in place

Source : Wood McKenzie Coal Market Service, Energy Publishing

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LOOKING FORWARD

♦ Mining from Buller Project at Escarpment mid 2013 ♦ Consent for revised infrastructure ♦ Consents for Whareatea West and Coalbrookdale ♦ North Buller exploration programme ♦ Commence consenting process for North Buller ♦ Exploration programme in Southland

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COMMUNITY INITIATIVES ♦ Sustainable Business Council ♦ Buller High School scholarships ♦ Denniston Hill Climb car rally ♦ Buller Rugby Union ♦ Denniston Chaingrinder mountain bike race ♦ Youth Development Trust ♦ Caroline Bay Aquatic Centre ♦ Gowan Hill Classic mountain bike race ♦ Nightcaps primary schools ♦ NZ Safety’s Tour of NZ cycling team

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BOARD OF DIRECTORS ♦ Craig Munro, Non-Executive Chairman

o Accountant with 35+ years experience in mining; and

o Ex-CFO of Anvil Mining, Aquarius Platinum and past directorships of multiple listed companies.

♦ Hamish Bohannan, Managing Director o Mining Engineer with 35+ years experience in resources industry; and

o Senior Executive positions with WMC, Iluka & IAMGold.

♦ Gerald Cooper, Executive Director o Engineer with experience in plant construction, fleet maintenance and project management; and

o Formerly AshantiGold, Iluka, IAMGold, Braemore Resources, Monadelphous Engineering, Cyprus Gold, WMC, Pegasus Gold and Acacia Resources.

♦ Rob Lord, Non-Executive Director o Over 20 years of senior management and marketing experience; and

o Formerly Managing Director of Gloucester Coal, Executive VP at Norske Skog (Australasia).

♦ Malcolm Macpherson, Non-Executive Director o Geologist with 35+ years experience in resources industry; and

o Ex-CEO of Iluka; served on Minerals Council of Australia & Chamber of Minerals and Energy (WA) and currently non-executive director of local and overseas listed resources companies.

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EXECUTIVE MANAGEMENT TEAM ♦ Richard Tacon Chief Operating Officer ♦ Simon Doig Executive General Manager, Marketing & Business Development ♦ Tim Manners Chief Financial Officer ♦ Gerry Cooper

Executive General Manager, Engineering & Construction

♦ Sam Aarons Executive General Manager, Corporate Relations ♦ Craig Pilcher General Manager, Eastern Coal Limited

♦ Marianne Rogers General Manager, Buller Coal Limited

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APPENDIX 1 - RESOURCE ESTIMATES

Resources are inclusive of reserves. Resource tonnes have been reported using an appropriate in situ moisture basis for each deposit, ranging from 2% to 8% in situ moisture in Buller except Takitimu (18% in situ moisture)

Area Measured resource (Mt) Indicated resource (Mt) Inferred resource (Mt) Total resource (Mt)

Escarpment 2.8 2.1 0.9 5.8

Cascade 0.5 0.3 0.7 1.5

Deep Creek 6.2 3.1 1.6 10.9

Coalbrookdale 0 2.3 4.9 7.2

Whareatea West 5.0 12.4 8.1 25.5

Millerton North 0 1.9 3.6 5.5

North Buller 0 4.9 10.2 15.1

Blackburn 0 5.8 14.1 19.9

Coaldale 1.2 1.2 0.7 3.1

Total 15.7 34.0 44.8 94.5

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APPENDIX 2 - RESERVES

Product Coal (Mt) Proved Probable Total

Escarpment 2.2 1.6 3.8 Deep Creek 5.1 2.4 7.5 Whareatea West 3.6 6.7 10.3 Coalbrookdale - 1.6 1.6 Cascade 0.4 0.2 0.6

Total 11.3 12.5 23.8

Area Ash % CSN Volatile Matter % Sulphur % Ave Range Ave Range Ave Range Ave Range

Escarpment 8.2 2.1 - 11.4 8 6 - 9+ 28.4 25.9 - 31.3 0.6 0.4 - 0.8

Deep Creek (coking) 5.0 4.9 - 5.2 >9 5 - 9++ 37.0 18.0 - 38.0 2.5 2.0 - 3.1

Deep Creek (thermal) 11.8 6.4 - 16.5 n/a n/a n/a n/a 1.7 0.9 - 2.0

Whareatea West 10.5 3.2 - 11.8 9 8 - 9++ 29.7 23.9 - 31.7 0.8 0.8 - 0.9 Coalbrookdale 7.9 2.1 - 11.2 5.5 5 - 8 32.0 29.1 - 32.1 1.0 0.3 - 1.4

Cascade 2.0 0.3 - 2.1 4.5 2 - 5 34.9 31.3 - 34.9 1.5 0.3 - 1.9

Reserves Quality – Product Coal (at 15% moisture) The table below shows the typical coking coal quality for the reserve at South Buller.

ROM Coal (Mt) Proved Probable Total

Escarpment 2.7 1.9 4.6 Deep Creek 5.8 2.7 8.5 Whareatea West 5.0 10.6 15.6 Coalbrookdale - 1.8 1.8 Cascade 0.4 0.2 0.6

Total 13.9 17.2 31.1

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COMPETENT PERSON STATEMENTS

The information on this report that relates to mineral resources and reserves for Deep Creek is based on information compiled by Neil Fraser who is a full time employee of Golder Associates Pty Ltd and is a member of the Australasian Institute of Mining and Metallurgy. Mr Fraser 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’. Mr Fraser consents to the inclusion in this report of the matters based on his information in the form and context in which it appears above. The information on this report that relates to mineral reserves for Escarpment, Cascade, Coalbrookdale and Whareatea West is based on information compiled by Ainsley Ferrier who is a full time employee of Buller Coal Limited and is a member of the Australasian Institute of Mining and Metallurgy. Ms Ferrier has sufficient experience which is 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 Exploration Results, Mineral Resources and Ore Reserves’. Ms Ferrier consents to the inclusion in this report of the matters based on her information in the form and context in which it appears above. The information on this report that relates to exploration results and mineral resources for Millerton North, North Buller, Blackburn and Coaldale is based on information compiled by Hamish McLauchlan who is a full time employee of Buller Coal Limited and is a member of the Australasian Institute of Mining and Metallurgy. Mr McLauchlan 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’. Mr McLauchlan consents to the inclusion in this report of the matters based on his information in the form and context in which it appears above. F

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