1. Strategy for Creating Shareholder ValueMay 2012

2. MIL Resources An optionON A WORLD CLASS MINERALS PACKAGE Strategy for Creating Shareholder Value May 2012 2 3. What does MIL Resources Offer?Clear strategy & structure for shareholder value creationManagement track record of project deliveryUndervalued leverage to major Iron Sands, Vanadium and Titanium projectWorld class PNG gold/copper tenement package, with immediate drill targetsASX Code MGK; market cap $7million; net cash(after SPP) $2.5millionStrategy for Creating Shareholder Value May 20123 4. Strategy for Value CreationManagement ability to recognise, exploit and monetize undervaluedresource projectsRe-position and re-prioritise corporate structure & strategy to maximiseshareholder returnsDevelop Iron Sands projectPrepare world class gold/copper properties in PNG for investment andexploration by MajorsDisciplined focus on development costs and creating valueStrategy for Creating Shareholder Value May 2012 4 5. Core Competencies & Management Track RecordHistory of locating undeveloped projects in unrecognised & undervaluedcompanies and building low cost, high performance projectsPerformanceCIM Resources Ltd: Built Stratford mine to over 2mtpa of coking coal productionZapopan Ltd: Built Tanami mine to over 100,000oz pa gold productionDeliveryCIM Resources Ltd: Project delivered in record time & on budgetZapopan Ltd: Tanami mine delivered on time & on budgetValue creationCIM and Zapopan both increased in market cap by more than 100 timesStrategy for Creating Shareholder Value May 20125 6. Revised Corporate StructureRevised Corporate Structure 100% 50% plus 50% Option100% New Ireland Holdings LimitedAmazon Bay Holdings Limited Titan Resources Pty LtdGold/Copper Iron sands/Vanadium/TitaniumGold/Copper New management New strategy for prioritising projects New approach to project development Refresh corporate structure Recapitalise New company nameStrategy for Creating Shareholder Value May 2012 6 7. Amazon Bay Iron Sands StrategyOver 100 km stretch of coast line south east of Port MoresbyFocus on 30 km long Threadfin area, which has exploration target of 630 million tonnes 1Plan to drill Threadfin to JORC status in CY2012Current project strategy is to dredge sands to produce concentrate bygravity separation for pumping to shippingPreliminary test work indicated a concentrate grade of approximately 52%Fe, 1% V2O5 and 17% TiO2Metallurgical processes now exist to separate out high grade vanadium and titanium products1 Quantity estimate based on previous drilling, Landsat and available radiometrics covering Amazon Bay dune formation. Refer Disclaimer Cautionary StatementStrategy for Creating Shareholder Value May 2012 7 8. Amazon Bay Iron Sands Threadfinproject site Strategy for Creating Shareholder Value May 2012 8 9. Comparison with PeersSignificantly under valued when compared to peers with iron-vanadiun-titanium deposits Company ASX Resource1 (tonnes) Market Cap2 ($M)MIL ResourcesMGK630 million3 7 Indo MinesIDO165 million 69 TNG TNG 160 million28SpeewahSPM4.7 billion 26 Amex ResourcesAXZ 220 million73 Balla Balla Project-450 million401Resources as defined by Company2As at 3 May 20123Refer Disclaimer Cautionary StatementStrategy for Creating Shareholder Value May 2012 9 10. Amazon Bay Iron SandsStrategy for Shareholder Value Creation1 Purchase option to acquire remaining 50% of project Implies a value of $20m+ for 100%, substantial discount to other similar projects2 Drilling & sampling Define JORC compliant resource Investigate separation of concentrate into three high purity productsStrategy is to produce three high value products Iron, Vanadium & Titanium3 Project Development Minimal capital outlay approach to project4 Develop corporate and strategic opportunities for wealth creationStrategy for Creating Shareholder Value May 201210 11. Amazon Bay Proposed DrillingRadiometrics draped over Google Earth Strategy for Creating Shareholder Value May 2012 11 12. Mining Projects in PNG to World Class Mining ProjectsProximity 140o 142o 144o 146o 148o150o152o 154o156o o2o 2LorengauVanimo Kavieng SIMBERI LIHIRNew Ireland Wewak Namatanai SOLWARA4o 4o Rabaul FRIEDANew BritainSINIVITOK TEDIMadangHoskins Tabubil WabagPORGERA Mt Hagen RAMU YANDERRA Kimbe6o 6o KAINANTU Kieta ChimbuYonkiGoroka Kandrian Bougainville PAPUALaeWAFI-GOLPU Wau8oHIDDENVALEY NEW GUINEA8o Kembra TOLUKUMAPopondettaDaru WOODLARK Port Moresby10o10o EXISITING AND POTENTIAL MINESAlotau MISIMA 0 100 200 UPDATED MAY 201212o12o140o142o 144o 146o 148o150o152o 154o156o Strategy for Creating Shareholder Value May 201212 13. Proximity to World Class Gold/CopperCopperCurrent Projects Iron Sands, Gold &ProjectsMANUSMUSSAU New IrelandLEGUSULUMTANGANew BritainPALABONGPapau New GuineaNORTH NEW BRITAIN ATUI Bougainville Port Moresby GOLDEN PEAK PROJECT LOCATIONS 0 100200 AMAZON BAY UPDATED MAY 2012POIStrategy for Creating Shareholder Value May 2012 13 14. New Ireland Gold/Copper Projects Strategy for Creating Shareholder Value May 2012 14 15. New Britain Gold/Copper Projects Strategy for Creating Shareholder Value May 2012 15 16. ConclusionsClear strategy & structure for shareholder value creationManagement track record of project deliveryUndervalued leverage to major Iron Sands, Vanadium and Titanium projectWorld class PNG gold/copper tenement package with immediate drill targetsStrategy for Creating Shareholder Value May 201216 17. foyson...abundant harvestStrategy for Creating Shareholder Value May 2012 17 18. MIL Resources LtdDISCLAIMER CAUTIONARY STATEMENTThis document has been prepared by MIL Resources Ltd (the Company). This document contains background information about the Company and its projects current atthe date of this document. It does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order tosatisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this document.The document is for information purposes only. Neither the document nor the information contained in it constitutes an offer, invitation, solicitation or recommendationin relation to the purchase or sale of shares in any jurisdiction. This document may not be distributed in any jurisdiction except in accordance with the legal requirementsapplicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction.To the fullest extent permitted by law, MIL Resources Ltd, its officers, employees, agents and advisers do not make any representation or warranty, expressed or implied, asto the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this document. Noresponsibility for any errors in or omissions from this document is accepted.Where MIL Resources Ltd expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed tohave a reasonable basis.1 To the extent that there is information set outin this document, any potential quantity and grade is conceptual in nature, as there has been insufficient exploration to define a mineral resource under the JORC Code and it is uncertain if further exploration will result in the determination of a mineral resource under the JORC Code. Quantity estimate based on previous drilling, Landsat and available radiometrics covering Amazon Bay dune formation. The information contained in thisdocument that relates to Exploration Results or Mineral Resources or Ore Reserves is based on information compiled by John Haggman who is a Member of the Australian Institute of Geoscientists. Mr. Haggman is a director of MIL Resources Ltd. Mr. Haggman has sufficient experience which is relevant to the style of mineral deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves. Mr Haggman consents to the inclusion in thispresentation of the matters based on his information in the form and context in which it appears.Strategy for Creating Shareholder Value May 2012 18