1. November 2011ASX: PNX

2. Disclaimer & Competent Person Statement This presentation is an overview of the Company prepared with good intention. It is not a prospectus and offers no securities for subscription or sale in any jurisdiction, nor a securities recommendation. All information necessary for investment decisions is not contained herein and investors are encouraged to conduct their own research of Phoenix Copper Limited in conjunction with legal, tax, business and financial consultation. Phoenix Copper Limited, its directors, officers, employees and agents disclaim liability for any loss or damage suffered by reliance on information contained in this report when making investment decisions. In addition, no express or implied representation or warranty is given in relation to the completeness and sufficiency of the information, opinions or beliefs contained in this document or any other written or oral information made or to be made available to any interested party or its advisors. This presentation may refer to the intention of Phoenix Copper Limited but it does in no way intend to forecast forward looking statements or future matters for the purposes of the Corporations Act or any other law. Future events are subject to risks and uncertainties, and as such results, performance and achievements may in fact differ from those referred to in this presentation. No liability is accepted for any loss, cost or damage suffered or incurred by the reliance on the sufficiency or completeness of the information, opinions or beliefs contained forthwith. Research, evaluation and analysis of the business, data and property are encouraged before making financial investments. Any estimates, projections or opinions contained herein may involve subjective judgement, analysis and interpretation, and satisfaction of ones owns decisions should be undertaken. This report contains forward-looking statements. These forward-looking statements reflect management’s current beliefs based on information currently available to management and are based on what management believes to be reasonable assumptions. A number of factors could cause actual results, or expectations to differ materially from the results expressed or implied in the forward looking statements. Information of a scientific or technical nature in this presentation, including information that relates to Exploration Results, is based on and accurately reflects information compiled by Mr Mark Manly and Mr Paul Dowd, who are both employees of Phoenix Copper Limited. Mr Manly is a Member and Mr Dowd is a Fellow of the Australasian Institute of Mining and Metallurgy and both have sufficient experience relevant to the style of mineralisation and the type of deposits under consideration and to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Manly and Mr Dowd consent to the inclusion in this report of the matters based on their information in the form and context in which it appears. 25 November 2011

3. Trends of Crude Steel Consumption relative to Gross National Income Bubble represents population size of country 2007

4. Assets at Various Stages of Development – Superior to Most Peers PRODUCER LCCM Assets DEVELOPER (Advanced Exploration) Development of LCCM Assets EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets 25 November 2011

5. Yorke Peninsula – The Company Maker EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets PRODUCER LCCM Assets 25 November 2011 DEVELOPER (Advanced Exploration) Development of LCCM Assets

6. Olympic Domain from Prominent Hill, Olympic Dam & Carapateena to the Yorke Peninsula. Exploration success in these types of geological environments can transform a junior company 25 November 2011 6 Olympic Dam (BHPB)>78 Mt Cu & 90 Mozs Au Prominent Hill (Oz Minerals)2.5 Mt Cu & >3 Mozs Au (Cu Ore) Carapateena (Oz Minerals)2.6 Mt Cu&6.5 Mozs Au (Inf Res) Hillside (Rex Minerals)1.5 Mt Cu & 1.4 Mozs Au Moonta-Wallaroo (historic)>355 Kt Cu & 64 Kozs Au Olympic Domain “Elephant Country”

7. Highly Prospective Structural Setting DEPTH TO CAMBRIAN Rex Minerals - Inferred Resource of 170Mt @ 0.7% copper & 0.2g/t gold in sheared rocks of the Hiltaba suite closely associated with the Pine Point Fault at Hillside. Phoenix Copper has identified targets in the geophysical data: structures splaying off the Pine Point Fault. a south west extension of the Pine Point Fault. other significant structures disrupting the Hiltaba Suite in PNX’s ELs. Drill Targets refined by Airborne EM to commence after crops removed GRAVITY MAGNETICS Hillside 25 November 2011

8. 13 Target Areas Identified Phoenix Copper 3D Modelling of Aeromagnetic Data to identify significant bodies of rock adjacent deep seated structures similar to those seen at Hillside or Moonta. Targets for follow up exploration were derived Targets T1, 2, 4, 5, 7, 8, 12 and 13 - alkali feldspar and magnetite metasomatic alteration Hillside-style Target Targets T3, 6, 9, 10 and 11 - moderate to weakly magnetic bodies may be associated with metavolcanics and metasediments intruded by Hiltaba Suite granitoids Moonta-style Targets Several areas of high magnetic susceptibility associated with significant structures were identified. 25 November 2011

9. Yorke Peninsula Exploration Program Airborne survey 23 rd Nov 2011 – more precise location of drill collars – EL4031 Nth Block and EL4312 Nth section of Southern Block – cost ~ $250,000 – PACE funding Priority 1: coincident 3D magnetic and VTEM 25 November 2011 Crops harvested Dec 2011 - drill locations available Mar 2012 (subject to access agreements with landholders) – initial program of 8 x ~ 200m deep holes – if successful, a further program (2,000m) drilling on best 4 targets

10. Significant Value Potential at Burra PRODUCER LCCM Assets EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets “The best place to search for an orebody is within the shadow of the headframe” 25 November 2011 DEVELOPER (Advanced Exploration) Development of LCCM Assets

11. Burra Project 6 Contiguous exploration licences that surround the historic Monster Mine The Monster Mine produced 2.6Mt of Cu ore in 2 major mining phases (1845 – 1877, 1970 – 1981) Monster Mine itself is within an area reserved from the Mining Act and excluded from EL4226, but is an important indicator of the potential of the Burra North Prospect Primary source of Monster Mine secondary mineralisation yet to be discovered – little deep drilling undertaken to date 25 November 2011

12. Burra North Prospect Significant potential for repetitions of the Monster Mine – Northern area under-explored – no reported drilling immediately north west of the Monster Mine pit – same fault zone that hosts Monster Mine – several significant IP anomalies identified around the Monster Mine (refer green hatched areas on adjacent map) Planned drilling campaign early 2012 – Phase 1 – 8 diamond holes to test heart of IP anomaly Section to be drilled Burra North Prospect Monster Mine Pit Burra “reserve” 25 November 2011

13. Significant Value Remains in Leigh Creek Assets PRODUCER LCCM Assets EXPLORER (Brownfields & Greenfields) Yorke Peninsula – Burra to Kapunda – LCCM Assets 25 November 2011 DEVELOPER (Advanced Exploration) Development of LCCM Assets

14. 25 November 201114 Leigh Creek Assets – Development Plan Lorna Doone & Lynda ML5498 11,900 t Cu (Indicated & Inferred Mineral Resource) in two proposed open pits. Mt Coffin ML 5741 Historic drilling has many significant high grade copper intercepts including 8m@ 2.70% Cu 20m@ 2.00% Cu 11m@ 4.10% Cu Mountain of Light ML5467 7,700 t Cu (Indicated & Inferred Mineral Resource) in two planned open pits. Operating Heap Leach and Copper cementation plant. Approx 65kms 05km

15. Significant assumptions in original feasibility study proved to be inaccurate: Effects of clays & water table on heap leach operation – extreme Lack of working capital No scale up from test-work to operation Significant Cu required for pond and pad inventory Less than ideal infrastructure design (ponds too small, no ILS pond) Lack of technical & costs “History” Initial mining contractor created backlog & discontinuity – contract terminated Incorrect crusher for material type - utilised as the only available unit for continuity Availability of skilled & non-skilled workforce; accommodation 25 November 201115 Mountain of Light Learnings

16. Feasibility Study 25 November 201116 Crushing options include MMD mineral sizer or tooth roll crusher  less abrasive,  high utilisation in clay bearing rock,  lower operating and maintenance cost than high impact crushers Mining plan to start in Paltridge North starter pit Mining 7.4tpd of contained Copper required for production of 4.4tpd contained Copper in cement 3 year mine life at the above rates High levels of beneficiation in the testwork ~100% of the oxide resource may be mined, reducing the 0.4% cutoff grade and increasing the available copper to leaching

17. Testwork PN starter pit Results:-  +250µm matl contains 78.1% of Cu for  33.5% of the mass, and  Grade from 0.55% Cu to 1.27% Cu, an upgrade factor of 2.27 Up to a 15% Cu loss in the -38µm fraction Tests to confirm losses generated through abrasion in crushing process 25 November 201117 Optimum split  Historical tests  75µm,  Current tests  250µm Coarse Copper split – Hydrosizing N/R? Tests to confirm equipment selection - Scrubbing Drum or Screen Washing 78-90% Acid soluble Cu - size dependent 67% Tonnes Waste 21% Copper Waste Y% Cu 33% Tonnes Ore 79% Copper Leach >2 x Y% Cu Screening Ore 100%

18. Schedule End Nov 2011, scrubbing testwork complete Limited Hydrosizing work required, complete by mid Dec 2011 Next phase of testwork to begin in Dec (brought forward from Jan), this will take a minimum of 60 days  Bottle roll for initial acid consumption on coarse size fractions  Load percolation for irrigation rates and slump factor  Initial agglomeration  Columns to determine leach curves 25 November 201118

19. Estimated Capital requirements Sourcing actual capital costs now test work data has been received and equipment selection is more focussed. Indicative Pricing (± 35%):- Crusher, feeder, screens$650K Scrubbing drum$100K EPCM, Plant Constn, incl civils, piping, etc $1270K Current operation upgrades & expansion$650K SUBTOTAL$2670K Pre-strip (Working Capital)$600-700K TOTAL$3370K 25 November 201119

20. Process Flow 25 November 2011 20 Crushed Ore -25mm DESLIMED COARSE ORE +1.0mm DESLIMED COARSE ORE +250µm COARSE ORE BLENDING SLIMES/FINES-250µm THICKENER HEAP LEACH SCRUBBED COARSE ORE +12.5mm SCRUBBED ORE -12.5mm TAILINGS ROM Ore 2 DECK SCREEN COPPERCEMENT

21. Not Just Another Junior Explorer Distinguished from Peers Producer-Developer-Explorer High Quality Assets Exploration at Yorke Peninsula – “Elephant Country” 25 November 2011 21 Conclusion

22. Forecast Expenditure 25 November 2011 $’000 Exploration LCCM Studies Total Yorke Peninsula Burra North Total Exploration 2011 - 2012 $1,623$940$2,563 $250$2,813 Total expenditures are based upon successful results, resulting in follow up drilling costs Yorke Peninsula 2011: Notifications for VTEM$15,000 Fly VTEM survey. Obtain waivers for gravity/geochem$240,000 Process the VTEM data. Obtain waivers for gravity/geochem$25,000 Economic Geological Tour Yorke Peninsula.$8,000 2012 January - June: Prepare for Diamond drilling program.$60,000 Undertake Ground Gravity over select Target clusters$80,000 Undertake calcrete sampling over select target Clusters$45,000 Project Supervision Contract Geologist$40,000 Eight, ~200m deep holes to test VTEM/3D Mag targets.$400,000 Project Supervision Contract Geologist$40,000 Process data from Yorke Peninsula Drilling.$30,000 Project Supervision Contract Geologist$40,000 July- December: ~ Twenty -60 degree angled holes 150m deep$270,000 Project Supervision Contract Geologist$40,000 Ground Gravity on select targets 50m line spacing 20m dipoles (1km target)$250,000 Project Supervision Contract Geologist$40,000 $1,623,000

23. 25 November 201123 Burra 2011: FPXRF, surveying, geological mapping, planning & obtaining waivers to drill.$45,000 FPXRF, surveying, geological mapping, planning & obtaining waivers to drill.$45,000 FPXRF, prepare for Diamond drilling program.$60,000 2012 January - June: Four, ~200m deep, holes ~800m N of Nthn edge Monster Mine O/Pit.$220,000 Process data from Burra North Drilling.$30,000 July-November: If successful 2000m of RC drilling on best targets$230,000 Project Supervision Contract Geologist$40,000 If successful 2000m of RC drilling on best targets$230,000 Project Supervision Contract Geologist$40,000 $940,000 Forecast Expenditure $’000 Exploration LCCM Studies Total Yorke Peninsula Burra North Total Exploration 2011 - 2012 $1,623$940$2,563 $250$2,813 Total expenditures are based upon successful results, resulting in follow up drilling costs

24. Annual Admin & O/Heads for PNX as a Producing Company 25 November 201124 Admin & Overhead for Producer ~$1.5M; for Explorer ~$1.3M

25. Board Equity 25 November 201125 No. Shares% of Total MR PETER JAMES WATSON & ASSOCS8,228,0005.06% PAUL J DOWD & ASSOCS1,530,0000.94% MR GRAHAM SPURLING & ASSOCS935,0840.58% MR DAVID HILLIER & ASSOCS240,0000.15% TOTAL10,933,0846.73%