1. TETRA RESOURCES LIMITED Company Presentation December 2012

2. Company Strategy Acquire highly prospective tenements Explore the tenements for Gold Copper Uranium Manganese and Base metals Convert exploration assets to resources and mineable reserves

3. Company Assets Tetra Resources Ltd (100%) Gold/Copper Projects (2) 153km 2 (Granted) Uranium Projects (2) 600km 2 (1 Granted) Manganese Project (1) 145km 2 (Granted)

4. Midgengadge Manganese Project Approx. 350km southeast of Port Hedland Within highly prospective Mn District Approx. 30km northwest of Woodie Woodie Mn Mine Immediately SE of the Jupiter Mn Tenements 48 Graticular Blocks (approx. 145km 2 ) Tetra Resources

5. Highly Prospective Mn District Woodie Woodie (Consolidated Mining – Operating with resource 20Mt @ 40%Mn Nicholas Downs (Hancock Prospecting / Mineral Resources) – Operating @ 700kt @ 38%Mn pa. Resource over 20M tonnes Spitfire Resources – Resource 11.3Mt @ 15%Mn currently undertaking BFS Ant Hill & Sunday Hill (Mineral Resources/Mesa Mining) – 2006 Sunday Hill resource 4.7Mt @ 18.4%Mn Jupiter Mines – 1 st pass drilling identified 19 significant intercepts over 15%Mn. Raised $150M to progress Mn (SA) and Fe (AUS) Projects Shaw River Resources – 10,000m drilling completed in 2011 Brumby Resources – Drilling identified resource 64Mt @ 10%Mn

6. Tetra Geoscience Australia – Australian Manganese Resources Map

7. Mineral District Geology Tetra Resources Ltd Woodie Woodie Mn Project (over 50 deposits) Mn occurs on Carrawine Dolomite as cavity fill and sheets and lenses in Pinjian Chert overlying the dolomite (supergene process) Larger deposits occurs as pipe-like body down to about 30m Higher grade occurs when the dolomite is uncomformably overlain by the manganiferous shales of Bangemail Group

8. Midgengadge Mn Project Manganese Outcrop 38.65% Mn Manganese Hills Midgengadge Project Mn occurrence on the tenement – rock chip up to 56.9%Mn (average 30% Mn) Similar geophysical and geological attributes to the Woodie Woodie Mn Mine Possible extensions below clay cover

9. Rock Chip Samples Midgengadge Project Approx. 700m MnAlFeMgPS Units%%ppm% NFTM00119.30.9930.430.0924210.078 NFTM00237.341.157.470.127400.025 NFTM00338.651.246.740.124950.007 NFTM00419.272.054.080.1421<0.002 NFTM0057.63.9470.13468<0.002 NFTM0068.611.4527.250.0812200.011 NFTM00719.541.8812.910.086610.006 NFTM00827.471.0615.640.13400.036 NFTM00917.211.0518.720.0511500.017 NFTM01045.671.218.860.04365<0.002 NFTM01140.281.5310.440.112620.003 NFTM0127.891.5732.550.043250.034 NFTM01325.180.7514.960.03432<0.002 NFTM01429.270.562.980.044930.043 NFTM01539.052.22.620.042210.021 NFTM01616.951.2521.630.042970.023 NFTM01740.830.791.80.024310.034 NFTM01836.460.749.670.038430.01 NFTM01956.940.691.170.013420.035 NFTM02049.780.411.550.011380.023 Samples – Low P, Al, Mg, S Potential for DSO – Direct Shipping Ore

10. Midgengadge Project Gold/Copper Potential ‘Bulls-eye’ magnetic target along NW structural feature Highly anomalous rock chip samples within surrounding areas Magnetic rim representing Cookes Creek Granite 175g/t Au 6.9% Cu 2.0% Pb 0.36% Zn

11. Midgengadge Mn Project Exploration Short Term Strategy (6 months) Complete ground gravity survey with Atlas Geophysics Define more prospective areas for ground EM survey Conduct soil sampling over magnetic anomaly RC/Diamond drill most prospective targets with Mt Magnet Drilling

12. Gravity Survey Results to Date Data filtering shows rock chip sampling overlying anomalous linear targets Highly prospective linear target with bulls-eye immediately east of rock chip samples below the clay cover

13. Midgengadge Mn Project Long Term (6-18 months) Exploration Strategy Complete broad spaced drilling with Mt Magnet Drilling Investigate possible JV with immediate tenement holders Investigate possible sale of the Mn Tenement only Investigate the possibility of listing Tetra in ASX based on drilling results

14. Balara and Willy Willy Gold/Copper Projects Approximately 530km east of Broome Balara – 45 Graticular Blocks (approx. 130km 2 ) Willy Willy – 8 Graticular Blocks (approx. 23km 2 )

15. Mineral District Anglo Australian Resources Market Cap - AU$1M (500M shares @ 0.02c) San Diego Deposit (Open Pit/Underground) 2Mt Mill Feed – 33kt Cu, 43kt Zn, 7koz Au 295koz Ag Based on (31/03/11) Metal Prices Operating Surplus – AU$60M NPV – AU$36M (DIR – 8%) Net Revenue – AU$413M IRR – 31% Bulletin Resources Market Cap– AU$12.1M (67.4M shares @ 0.18c) Nicholson’s Find Gold Project Resource 1Mt @ 5.2g/t (170koz) Acquired Project for less than AU$1M Capital Raised AU$8m (20c per share) Commenced 11,500m RC drilling

16. Balara Gold Copper Project Tenement granted Heritage Agreement in place Within known mineralised structures Contains known copper occurrence – coincident magnetic anomaly 5 main exploration targets At least 20km untested strike length of known mineralised fault structures Balara Project Willy Willy Project

17. Willy Willy Gold/Copper Project Tenement granted Heritage Agreement in place Within known mineralised structures Contains known copper occurrence Rock chip sample CRWR – 6.45%Cu, 15g/t Ag Documented 52oz nugget found in area Targets - coincident magnetic highs along fault structures

18. Balara & Willy Willy Au/Cu Project Exploration Strategy Conduct soil/rock sampling survey Conduct ground magnetic survey Contact immediate tenement holders for possible JV/Acquisition

19. Lady Forrest and King Leopold Uranium Projects Approx 165km east of Derby Lady Forrest (Application) 129 Graticular Blocks (390km 2 ) King Leopold (Granted) 69 Graticular Blocks (210km 2 )

20. Company Assets – Lady Forrest and King Leopold Identified U/Th radiometric high along prospective sedimentary units of the Tunganary Formation (purple) Lady Forrest King Leopold

21. Mineral District – Lady Forrest & King Leopold Projects Rio Tinto – Pegged same Tunganary Formation (purple) up to 140km along strike Urangesellschaft Australia (light blue, 1978) – Previous work identified up to 130ppm U unit within same lithological unit Lady Forrest King Leopold

22. Financial Evaluation Capital Raising Evaluation of Assets: Potential Resource 1.Midgengadge Project17Mt @ 41.5% Mn 2.Balara and Willy Willy Projects250kozAu 3.Lady Forrest and King Leopold Projects150Mt @ 300ppmU

23. Company Profile Unlisted Junior Exploration Company 36.3 Million Ordinary Shares Currently hold 5 tenements in WA  4 Granted (Mn, Au-Cu, U)  1 Under Applications (U)

24. Company Directors Mr Leo Pilapil BSc DFP Over 24 years exploration and mining experience Ex WMC employee Discovered Harlequin Deposit in Norseman WA Worked in Western Australia and Africa Mr Brett Lantzke BSc (Geophysics) Over 15 years in exploration as geophysicist Ex Fugro employee Worked in Western Australia and Brazil Mr Simeon Papazis Over 20 years in finance and share evaluations Melbourne based

25. Company Associates Mr Stewart Findlay 20 years senior operational management and engineering design experience with Normandy, Rio Tinto, WMC and GRES Worked in Australia, Malaysia and Indonesia Worked in numerous Project Developments Mr Frank Catalfamo (Odyssey Equity Finance Pty Ltd) Involved in a number of IPO Listings in ASX Corporate Advisor in capital raising Ms Kelli Hill (KHC Consulting) Heritage and Native Title Consultants Expertise in liaising and negotiating NTAs