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Oxiana Limited - Kalimantan Gold Corporation Limited

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Summary<br />

• KSK Copper Project<br />

JV with Freeport-McMoran Copper and <strong>Gold</strong>. Worlds largest publically listed copper company<br />

• $7m in first 3 years for 51% interest; $3m in year 1; subscribed C$350k for ordinary shares @ 14c; sole<br />

fund to BFS for additional 24%;<br />

• If Freeport stops funding, loses equity interest for 1% royalty up to sums spent. KLG to be operator;<br />

• If decison to mine is taken, if either party declines to fund its share, its equity will be assigned to other party<br />

for 1% NSR;<br />

• Deep drilling at 3 (4) targets to identify source of porphyry;<br />

• 43-101 drilling at Beruang Kanan to delineate a target 250Mt at 0.5-0.6% Cu;<br />

• Ready to mobilize 1500m capable drill rigs and definition drilling rigs pending issuance of forestry permits,<br />

expected in July.<br />

• Jelai <strong>Gold</strong> Project<br />

• JV signed with Tigers Realm Minerals;<br />

• $6m by IUP expiry for 70% of equity; $2m in year 1;<br />

• Must fund drilling up to Bank Feasibility Study to retain equity; otherwise 1% royalty up to 2x investment;<br />

• Exploration IUP granted to June 2015, awaiting conditional forestry permit that is expected by August.<br />

June 2011 26

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