1. Investor Presentation
London 2010

2. DISCLAIMER
This presentation does not purport to provide all of the information an interested party may require in
order to investigate the affairs of IronClad Mining Ltd (Ironclad) nor shall it be construed as a solicitation to buy or sell IronClad securities, or to engage in or refrain from engaging in any financial transaction. In preparing
this presentation IronClad did not take into account the investment objectives, financial situation and
particular needs of the individual investors.
Before making an investment decision on the basis of this presentation, the investor needs to consider,
with or without the assistance of a financial advisor, whether the investment is appropriate in light of their
particular investment needs, objectives and financial circumstances.
This presentation is based on internal company reports and technical
information believed to be reliable but IronClad does not make any representation or warranty to its
accuracy, completeness or currency. IronClad accepts no obligation to correct or update the
information or opinions expressed in it. Opinions expressed are subject to change without notice and
accurately reflect the views of IronClad at the time of presenting.
This presentation has originated from IronClad Mining Limited.
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

3. CORPORATE STRUCTURE
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

4. Ian Finch – Chairman Neil McKay – Director Peter Rowe – Director
IRONCLAD BOARD
Ian Finch – Chairman
Neil McKay – Director
Peter Rowe – Director
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

5. WORLD LOCATION

6. AUSTRALIA
1000 km N
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

7. HISTORICAL IRON AREA

8. WEEDNANNA IRON (Fe)
‘…this ore body is superior to most of the magnetite projects currently under investigation in Australia.’
Promet Report Nov 2006
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

9. IRONCLAD
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

10. MAGNETITE COMPARISON IRONCLAD (IFE) MAGNETITE CONVENTIONAL MAGNETITES
1. Magmatic / Crystalline Sedimentary - BIF
2. Coarse Grained (>1mm) Very Fine Grained (< micron)
3. Soft - Low BWI & AI Hard – High BWI & AI
- Low maintenance costs High maintenance Cost
Minimal Grinding Extensive Grinding
- Low power draw - High power draw
5. Very Low level of Impurities Moderate to high level of impurities
6. Ideal Basicity – self-fluxing Variable Basicity – may require fluxing agents
7. High Metal & Weight Low Weight Recovery
Recovery
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

11. 1,902 150,441m Total holes drilled Total metres drilled
TOTAL EXPLORATION
1,902
Total holes drilled
150,441m
Total metres drilled
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

12. *48Mt Indicated and 21Mt Inferred, **198.0 Mt Inferred
UPDATED JORC RESOURCE
Wilcherry Hill:
69 Mt* (600Mt - 700Mt)
Hercules:
198Mt** (1.0Bt - 1.5Bt)
*48Mt Indicated and 21Mt Inferred, **198.0 Mt Inferred
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

13. Production to Commence 2011
PFS / DFS / PRODUCTION
Pre-feasibility Study (PFS)
Completed December 2009
Definitive Feasibility Study (DFS)
Due 4th Qtr 2010
Production to Commence
2011
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

14. PRODUCTION STAGES STAGE 1(a) STAGE 1(b) STAGE 2 STAGE 3
WILCHERRY HILL DRY DSO
IFE 80%
TRF 20%
10 Mt Resource*
5-7 Mt Reserve*
STAGE 1(b)
WILCHERRY HILL WET DSO
60 Mt Resource*
STAGE 2
WILCHERRY HILL CONCENTRATE
600 Mt in Ground Potential Resource*
STAGE 3
HERCULES
198 Mt Resource*
800 Mt in Ground Potential Resource*
* Subject to completion of the updated resource statement and DFS
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

15. Stage1 - Direct Shipping Ore
PRODUCTION STAGES
Stage1 - Direct Shipping Ore
Export Date: 2011
Output: 2Mt pa
Capital Cost: $12 Mill
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

16. Proposed IronClad Plant
STAGE 1(a) – DRY DSO
Fines
DMS Plant
Crushing Plant
Tails
Lump
Proposed IronClad Plant

17. DRY MAGNETIC SEPARARTION
Two stage for FFL
Single stage for fines

18. Supply for Construction & Operations
WATER SUPPLY
Water defined for Stage1 DSO
7 water bores with 2 Ml/day
Supply for Construction & Operations
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

19. STAGE 1b - WET DSO

20. DSO SPECIFICATIONS Fe % (total) - 62.0% SiO2 % - 2.9% Al2O3 % - 2.3%
CaO % %
MgO % %
Na2O % %
K2O % %
P % %
S % %
Mn % %
LoI % %
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

21. INFRASTRUCTURE

22. LOGISTICS OVERVIEW Export point - Outer Harbor Adelaide
- Road Transport
- Rail Transport
Export point - Outer Harbor Adelaide
Rail ~ 350km to Adelaide
Each train consist of 92 x 40ft wagons carrying ~ 4,900 tonnes
Purpose built ore containers (not wagons)
Wharfside stacking of containers (3 high)
Loading confined to vessels holds
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

23. SIDE TIPPERS
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

24. OUTER HARBOUR OVERVIEW
Bridges
Two x 630m rail spurs
Container Terminal
New container storage area
Existing Container Berth
Grain Berth 24 24

25. LOADING CONCEPT 4
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN: 25 25

26. 2Mt pa DSO Shipment IRONCLAD MINING
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

27. First 2 years full production
MARKETING
Signed with OMS Trading
First 2 years full production
Separate China marketing support services contract
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

28. TOTAL COST PER TONNE FOB
INDICATIVE FINANCIALS
PROJECT
VALUE (AU$)
TOTAL COST PER TONNE FOB
$55.0
REVENUE PER TONNE FOB
$125.0
MARGIN PER TONNE FOB
$70.0
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

29. Stage 2 – Wilcherry Hill Beneficiation
FUTURE PRODUCTION
Stage 2 – Wilcherry Hill Beneficiation
Export Date: 4th Qtr 2012
Output: 5-6 Mt pa
Product: Concentrates
Capital Cost: ~ $300 Mill ?
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

30. PORT BONYTHON
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

31. Reduced OPEX WILCHERRY HILL STAGE 2 Shorter Transport Distances
Bulk Mining
Bulk Shipping 31
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

32. IRONSTONE OUTCROP HERCULES32
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

33. Stage 3 – Hercules Exploration & Development
PRODUCTION STAGES
Stage 3 – Hercules Exploration & Development
Export Date: 2015
Output: Mt pa
Product: DSO Hematite
& Concentrate
Capital Cost: ??? (incl. drilling)
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

34. Shares - 53.0 Mill Share Price – $0.97 Options – 10.7 Mill
IRONCLAD SEPT 2010
Shares Mill
Share Price – $0.97
Options – Mill
Mkt Cap - $ 50.0 Mill
ADDRESS: Level 2, 679 Murray Street, West Perth, WA Ph: (08) Fax: (08) Website: ACN:

35. IRON – MARKET CAP. COMPARISON
IronClad Mining
Iron Companies

36. IRON – ISSUED SHARE COMPARISON
IronClad Mining
Iron Companies
No Shares (mill)