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Broker PresentationFebruary 2014

Broker PresentationFebruary 2014

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The information in this presentation is published to inform you about Adelaide Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice.

To the extent permitted by law, Adelaide Resources Limited accepts no responsibility or liability for any losses or damages of any kind arising out of the use of any information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions.

The information in this presentation is published to inform you about Adelaide Resources Limited and its activities. Some statements in this presentation regarding estimates or future events are forward looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. All reasonable effort has been made to provide accurate information, but we do not warrant or represent its accuracy and we reserve the right to make changes to it at any time without notice.

To the extent permitted by law, Adelaide Resources Limited accepts no responsibility or liability for any losses or damages of any kind arising out of the use of any information contained in this presentation. Recipients should make their own enquiries in relation to any investment decisions.

The information in this presentation that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Chris Drown, a Competent Person, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Drown is employed by Drown Geological Services Pty Ltd and consults to the Company on a full time basis, acting as the Company’s Managing Director. Mr Drown has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Drown consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Disclaimer and Competent Person’s StatementDisclaimer and Competent Person’s Statement

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• Listed on ASX in 1996 (ADN)

• Shares issued ~229 million

• Unlisted securities 2.25 million

• Cash ~$2.95 million

• Shareholders ~2500

• Top 40 hold 43.5%

• Major holders Navigator Australia 6.5%MLB Holdings Pty Ltd 5.5%

• 12 month trading 3.6 to 25 cents

• Market cap $14.9M (6.5 cents)

• Listed on ASX in 1996 (ADN)

• Shares issued ~229 million

• Unlisted securities 2.25 million

• Cash ~$2.95 million

• Shareholders ~2500

• Top 40 hold 43.5%

• Major holders Navigator Australia 6.5%MLB Holdings Pty Ltd 5.5%

• 12 month trading 3.6 to 25 cents

• Market cap $14.9M (6.5 cents)

Corporate statisticsCorporate statistics

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The BoardThe BoardMike Hatcher – Geologist

Non-executive Chairman40+ years experience

Chris Drown – GeologistManaging Director25+ years experience

John den Dryver – Mining Engineer Non-executive Director 30+ years experience

Mike Hatcher – Geologist Non-executive Chairman40+ years experience

Chris Drown – GeologistManaging Director25+ years experience

John den Dryver – Mining Engineer Non-executive Director 30+ years experience

Nick Harding – Accountant Company Secretary/CFO25+ years experience

Mark Manly – Geologist Exploration Manager 25+ years experience

Nick Harding – Accountant Company Secretary/CFO25+ years experience

Mark Manly – Geologist Exploration Manager 25+ years experience

A professional team with years of industry experienceA professional team with years of industry experience

Senior ManagementSenior Management

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Project locationsProject locations

NorthernTerritory

SouthAustralia

Victoria

ROVERGold/Copper

MOONTACopper/Gold

DRUMMONDGold

Queensland

EYRE PENINSULAGold/Copper/Silver

YALANDAGold/Silver

Copper/Gold/Iron OreANABAMA

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Q: Why invest in Adelaide Resources?

A: Because it owns one of the nation’s mostexciting copper-gold exploration plays inone of the world’s premier copper belts.

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Moonta Project – location planMoonta Project – location plan

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Olympic Copper Gold ProvinceLEGEND

Adelaide ResourcesAntofagastaArevaBHPBFMGOz MineralsRexRio TintoSandfireStraitsUranium OneXstrataOther

200 kilometres

Olympic Copper-Gold Province – operating companiesOlympic Copper-Gold Province – operating companies

The OCGP is a world class copper belt!

The OCGP is a world class copper belt!

All land in the OCGP where exploration is

allowed is pegged.

All land in the OCGP where exploration is

allowed is pegged.

Major companies and copper producers dominate.

Major companies and copper producers dominate.

(map current for mid 2013non OCGP tenements not shown)

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OCGP – depth to prospective basementOCGP – depth to prospective basementThe Yorke Peninsula in general, and ADN’s Moonta Project in particular, has some of the shallowest cover anywhere along the entire Olympic Copper Gold Province.

The Yorke Peninsula in general, and ADN’s Moonta Project in particular, has some of the shallowest cover anywhere along the entire Olympic Copper Gold Province. Olympic Dam

(330m)

Challenger

Prominent Hill (100m)

MOONTAPROJECT

(mostly < 10m)

Olympic Copper-Gold

Province

(470m)

Hillside (~30-70m)Copper/

depositGold

200 kilometres

Vulcan (900m)

Punt Hill(~700m)

A

B

Carrapateena

1000

800

600

400

200

Prominent HillVulcan

OlympicDam Carrapateena

Punt HillSpencer

Gulf

MOONTAPROJECT

Hillside

Dept

hbe

low

surfa

ce(m

etre

s)

A B

Cover

Prospective basement

{

Schematic section

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Moonta Project – modern exploration history timelineMoonta Project – modern exploration history timeline

Historical exploration at Moonta dominated by large companies, presenting Adelaide Resources with a valuable historical database and a scale opportunity in a period of improved copper prices.

Historical exploration at Moonta dominated by large companies, presenting Adelaide Resources with a valuable historical database and a scale opportunity in a period of improved copper prices.

Copper PriceCopper Price

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“Buried Treasure” discovered in open file DMITRE report“Buried Treasure” discovered in open file DMITRE report

10m @ 2.3% Cu from 59m in old Alford hole AL11

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Alford West – WMC/NBH 1970’s auger copper anomaly (>200ppm), drillhole collars and area tested by ADN in 2013.Alford West – WMC/NBH 1970’s auger copper anomaly (>200ppm), drillhole collars and area tested by ADN in 2013.

Area of 2013 drillingArea of 2013 drilling

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Alford West Prospect – Section 753,730 mEAlford West Prospect – Section 753,730 mE

5m @ 0.92% Cu, 0.15g/t Au

4 @ 1.38% Cu, 0.44g/t Au 6m @ 0.39% Cu, 0.03g/t Au

3m @ 1.22% Cu, 0.08g/t Au

6m @ 0.86% Cu, 0.06g/t Au

20m @ 4.20% Cu, 0.27g/t Au

10m @ 4.23% Cu, 0.20g/t Au

18m @ 2.22% Cu, 0.17g/t Au

11m @ 2.33% Cu, 0.68g/t Au

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Alford West – multiple good drill intersections in 2013. Alford West – multiple good drill intersections in 2013.

Intersections calculated by averaging 1-metre chip samples. Copper determined by four acid digest followed by ICP-AES finish. Overrangecopper (>1%) determined by AA finish. Gold determined by fire assay fusion followed by ICP-AES finish. Cut-off grade of 0.2% Cu and/or 0.2g/t Au applied with up to 2m internal dilution. Introduced QA/QC samples indicate acceptable analytical quality. Intersections are downhole lengths.

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Alford West – current 3-D model (ADN drilling only)Alford West – current 3-D model (ADN drilling only)

3-D model looking SEBlue: 0.1% Cu shellRed: 0.2% Cu shell

Deposit is open at depth and along strike

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Recently defined additional targets and planned drill linesRecently defined additional targets and planned drill lines

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1970’s shallow auger hits give confidence the deposit will grow!1970’s shallow auger hits give confidence the deposit will grow!

9.75m (to EOH) @ 0.68% Cu

4.57m (to EOH) @ 1.64% Cu

6.1m (to EOH) @ 0.44% Cu

10.36m (to EOH) @ 0.54% Cu

1.83m (to EOH) @ 0.18% Cu

1.83m @ 1.40% Cu

5.49m (to EOH) @ 0.82% Cu

Depths of annotated auger holes range from 8.32m to 24.99m.

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Alford Copper Belt – land access for FPXRF surveysAlford Copper Belt – land access for FPXRF surveys

FPXRF soilgeochemcompleted

FPXRF soilgeochemcompleted

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Other Prospects - WombatOther Prospects - WombatLocated about 1000 metres west of Alford West.Located about 1000 metres west of Alford West.

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Other Prospects - WillamulkaOther Prospects - WillamulkaLocated about 10 kilometres southeast of Alford West.Located about 10 kilometres southeast of Alford West.

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Moonta Copper-Gold Project SummaryMoonta Copper-Gold Project Summary

Alford West Prospect• 3.5 km long target at Alford West – 1.1 km drilled 2013.• Cu-Au on every drill line. Open at depth and along strike.• Newly defined targets (Blue Tongue) add ~1.5km of strike.• Exceptional potential to define a valuable resource.• 12,000 metre drilling program commenced 20 Jan.

Broader Moonta Project• Other nearby deposits (Wombat, Willamulka, Paskeville).• Alford Copper Belt looks to be particularly prospective.

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Q: Why else invest in Adelaide Resources?

A: Because it also owns a range of otherexcellent copper and gold explorationprojects in pedigreed belts.

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Rover Gold Copper Project – NTRover Gold Copper Project – NT

High grade “Tennant Creek” style deposits.High grade “Tennant Creek” style deposits.For

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Rover 1 Section (ADN’s part) Rover 1 Section (ADN’s part)

System of substantial dimension confirmed.

High grades of gold and copper intersected.

Extension to MLX’s Rover 1 Resource (1.22Moz AuEq)

System of substantial dimension confirmed.

High grades of gold and copper intersected.

Extension to MLX’s Rover 1 Resource (1.22Moz AuEq)

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Rover 4 Prospect Rover 4 Prospect Located about 2.2km northeast of Rover 1.

Shallowest known mineralisation in the broader Rover Field.

Wholly owned by ADN.

Ranks second behind Rover 1 in terms of Rover Field deposits.

Located about 2.2km northeast of Rover 1.

Shallowest known mineralisation in the broader Rover Field.

Wholly owned by ADN.

Ranks second behind Rover 1 in terms of Rover Field deposits.

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Drummond Epithermal Gold Project – locationDrummond Epithermal Gold Project – location

High grade epithermal gold deposits of “Pajingo” style.High grade epithermal gold deposits of “Pajingo” style.

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South West Limey Dam ProspectSouth West Limey Dam Prospect

Rock chip sample from South West Limey Dam assaying 55.4g/t gold.

FPXRF arsenic geochemistry.

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WUD2 CENTRAL1m @ 37.8g/t AuWUD2 CENTRAL1m @ 37.8g/t Au

BAGGY GREEN8m @ 4.79g/t Au24m @ 2.33g/t Au

BAGGY GREEN8m @ 4.79g/t Au24m @ 2.33g/t Au

WHITE TANK17m @ 3.47g/t Au7m @ 10.0g/t Au

WHITE TANK17m @ 3.47g/t Au7m @ 10.0g/t Au

BARNS24m @ 2.19g/t Au12m @ 3.38g/t Au2m @ 67.6g.t Au

BARNS24m @ 2.19g/t Au12m @ 3.38g/t Au2m @ 67.6g.t Au

30 KM30 KM

Geochemical goldanomalyGeochemical goldanomaly

Eyre Peninsula Gold Project - SAEyre Peninsula Gold Project - SA

Large project with confirmed gold deposits.Large project with confirmed gold deposits.

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Mineralised zoneMineralised zone

16m @ 1.0 g/t Au16m @ 1.0 g/t Au

11m @ 2.84 g/t Au11m @ 2.84 g/t Au

36m @ 1.80 g/t Au36m @ 1.80 g/t Au11m @ 2.45 g/t Au11m @ 2.45 g/t Au

9m @ 1.17 g/t Au9m @ 1.17 g/t Au

2m @ 67.6 g/t Au2m @ 67.6 g/t Au

PrimaryPrimary

OxideOxideDepletedDepleted

100 M100 M

146.7 @ 0.87 g/t Au146.7 @ 0.87 g/t Au88.6 @ 1.25 g/t Au88.6 @ 1.25 g/t Au

Barns cross section 6369500mNBarns cross section 6369500mN

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Other Projects SummaryOther Projects Summary

• 100% ownership of Rover Copper-Gold Project, including the Rover 4 deposit and part of the Rover 1 deposit.

• 100% ownership of Drummond Basin project with epithermal gold systems (Pajingo style) confirmed to be present.

• 100% ownership of majority of Eyre Peninsula Gold Project, including the Barns, Baggy Green and White Tank deposits.

• High quality exploration projects to back-up the Moonta Copper-Gold Project.

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The geotechnical information communicated in the slides in this presentation relating to Adelaide Resources’ past exploration results, and its assessment of exploration completed by past explorers, was first prepared and disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

The geotechnical information communicated in slide 16 of this presentation was released in December 2012 in accordance with the JORC Code 2012 (See ADN’s ASX release dated 18 December 2013 titled “New Drill target Defined Near Alford West – SA”).

JORC Code 2012 statementsJORC Code 2012 statements

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Providing shareholders with discovery opportunities!

Providing shareholders with discovery opportunities!

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