The successful establishment of an Australian mining company in India

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• The successful establishment of an Australian
  mining company in India

Excellence in Mining Exploration Sydney - 16
September 2008 Andrew Simpson, Chairman

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Disclaimer

• Forward-Looking Statements
• This presentation contains forward looking
  statements concerning the projects owned by India
  Resources Limited. Statements concerning mining
  reserves and resources may also be deemed to be
  forward looking statements in that they involve
  estimates based on specific assumptions.
  Forward-looking statements are not statements of
  historical fact and actual events and results may
  differ materially from those described in the
  forward looking statements as a result of a
  variety of risks, uncertainties and other
  factors. Forward looking statements are based on
  managements beliefs, opinions and estimates as
  of the dates the forward looking statements are
  made and no obligation is assumed to update
  forward looking statements if these beliefs,
  opinions and estimates should change or to
  reflect other future developments.
• Data and amounts shown in this presentation
  relating to capital costs, operating costs and
  project timelines are internally generated best
  estimates only. All such information and data is
  currently under review as part of India Resources
  Limiteds ongoing development and feasibility
  studies. Accordingly, India Resources Limited
  cannot guarantee the accuracy and/or completeness
  of the figures or data included in the
  presentation until the feasibility studies are
  completed.
• Competent Persons Statement
• The geological and assay statements and
  commentary in this presentation are based on
  information compiled by Eoin Rothery who is a
  member of the Australian Institute of
  Geoscientists. Mr Rothery has reviewed the
  information and has satisfied himself that the
  values quoted and the parameters used in the
  study are reasonable and accurately reflect the
  operations involved. Mr Rothery is a full-time
  employee of India Resources Limited and holds the
  position of Managing Director. Mr Rothery has
  sufficient experience which is relevant to the
  style of mineralisation and type of deposit under
  consideration to quality as a Competent Person as
  defined in the 2004 Edition of the Australasian
  Code for Reporting of Exploration Results,
  Mineral Resources and Ore Reserves. Mr Rothery
  consents to the inclusion in the report of the
  matters based on his information in the form and
  context in which it appears.
• The information in this presentation relating to
  the resource and reserve estimate for the Askot
  Project is based on information compiled by Mr
  Souvik B Banerjee and Dr Jean-Francois Couture.
  Both Mr Souvik B Banerjee and Dr Jean-Francois
  Couture are members of Recognised Overseas
  Professional Organisations included in a list
  promulgated by the ASX from time to time.
• JORC Exploration Targets
• It is common practice for a company to comment on
  and discuss its exploration in terms of target
  size and type. The information in this
  presentation relating to exploration targets
  should not be misunderstood or misconstrued as an
  estimate of Mineral Resources or Ore Reserves.
  Hence the terms Resource(s) or Reserve(s) have
  not been used in this context. The potential
  quantity and grade is conceptual in nature, since
  there has been insufficient work completed to
  define them beyond exploration targets and that
  it is uncertain if further exploration will
  result in the determination of a Mineral
  Resource.

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Overview

• Strategic focus on developing Indian resources
• Commercial alliance with Hindustan Copper Limited
  (HCL)
• First copper project in production Surda Mine
• Growing production and earnings base
• Expansion opportunity at Surda via proposed
  decline
• Reviewing opportunity to participate in
  development of Khetri and Kolihan Mines with HCL
• Diversified exploration portfolio base metals,
  copper, iron ore

The only Australian start-up mining company in
operation in India
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Board
Senior Corporate Marketing Executive in the
resource and mining industry. Chairman of
Territory Resources Limited and Swick Mining
Services, non-executive Director of ABM Resources
NL, Vital Metals Ltd and Matilda Minerals.
Andrew Simpson Chairman
Eoin Rothery Managing Director
Minerals explorationist with strong
multi-commodity experience. Former GM
Exploration, Consolidated Minerals Ltd.
20 years resource industry experience and project
mine management in India. Managed restructure of
Norseman Gold. Four years with Rio Tinto Coal.
Consulted on projects including BHP Mitsubishi
Alliance, LionOre and Griffin Coal.
Arvind Misra Director, Chief Operations Officer
30 years legal experience. Chairman of Heron
Resources, Agincourt Resources and Halcyon Group,
Director of Mount Gibson Iron and Galaxy
Resources.
Craig Readhead Non-Executive Director
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Major Shareholders
Rank
Name
No. Shares

1
Territory Resources Limited
19,019,000
10.8
2
ANZ Nominees Limited
8,837,228
5.0
Sydney Equities Limited
3
7,000,000
4.0
Crawley Investments
4
6,866,272
3.9
5
AWD Consultants Pty Ltd
4,000,000
2.3
6
India Minerals PLC
2,350,000
1.3
7
Directors
2,187,283
1.2
8
Laurence James Kiernan
2,000,000
1.1
9
Angelina Garvey
1,600,000
0.9
10
Tewal Pty Ltd
1,325,000
0.8
55,184,743
31.4
Top 10 Shareholdings
175,646,966
Issued Capital
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Why India?

• Worlds second fastest growing economy after
  China
• Average 8.8 GDP growth in the past four years
  9.6 in 2006/07
• Booming capital market and rapidly growing FDI
• Structural economic transformation underway
  driven by the industrial and service sectors
• Growing savings and investment rate gross
  capital formation accelerated to 32.6 of GDP in
  2007/08
• 1.1 billion people rapidly growing demand for
  minerals and metals
• And yet the Indian mining industry is
  growing at less than 5 pa

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Indian Resourcesthe Tiger Awakens

• World-class mineral opportunities base metals,
  gold, iron ore, coal
• Production limited by inefficiency and lack of
  technical expertise
• Minimal modern exploration
• Indian mining market undergoing a major
  transformation
• Recommendations of Hoda Report being implemented
  to streamline regulations and remove obstacles
• India Resources was formed in 2006 to take
  advantage of these opportunities listed on ASX
  in mid-2007 (10M IPO)

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India Resources Overview

• Two streams of business
• Mine development
• Surda Copper Project
• Other projects pending through Commercial
  Alliance with Hindustan Copper Limited
• Exploration
• Base metals
• Iron Ore
• Diamonds

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Surda Copper Mine

• Located in Jharkhand State
• Prolific Singhbhum mineral belt (numerous
  existing underground copper mines)
• Part of Indian Copper Complex group of six
  mines
• Operated by HCL between 1928 and 2003
• Produced 1.47 million tonnes _at_ 0.9 Cu for six
  years to January 2003

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Surda Copper Mine

• Commenced production Nov 2007 Surda Mine and
  Mosaboni Concentrator
• All copper concentrate sales secured to HCL
• Cu concentrate delivered to Maubhandar Works
  (Indian Copper Complex)
• 7mt of mineralisation identified at 1.2,
  sufficient for six years production with further
  expansion possible
• 850 people locally employed

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Surda Copper Production
Initial production target 4,500tpa of Cu metal,
building to 9,000tpa
Revised Target 9,000 tonnes Cu
Previous Hindustan Copper Production
Current Target 4,500 tonnes Cu
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Surda Mine Ore Production Ramp-up

• Initial production target 450,000tpa of ore at
  average 1 Cu
• Potential to double to 900,000tpa
• On track to reach 30,000 tonnes per month in
  September 2008

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Surda Mine Copper Concentrate Production

• Production of 1,335t of concentrate (23.5 Cu) in
  March Quarter
• Production of 2,073t of concentrate (24.53 Cu)
  in June Quarter
• Forecast production of 3,635t concentrate (25
  Cu) in September Quarter
• Forecast production of 4,412t of concentrate (25
  Cu) in December Quarter

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Surda Mine Production Enhancements

• New mining and processing equipment introduced
• Three new LHDs for underground mine - lower
  costs and increased efficiency and productivity
• Refurbishment of mine and plant
• New stopes developed in Blocks 1, 7 and 8
• Mining now underway in eight stopes
• Further opportunities identified to increase
  shaft hoisting capacity

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Surda Mine Production Enhancements

• Enhancements to Mosaboni Concentrator
• 12 new Metso flotation cells
• New Chinese ceramic vacuum filter major
  increase in energy efficiency (saving 17,000
  per month)
• Target daily production rate being consistently
  maintained

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Surda Cross Section
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Surda Decline Expansion

• Currently in discussions with HCL for Surda
  Decline Expansion
• Current ore production limited by existing shaft
  hoisting capacity
• meets only 47 of concentrator capacity
• Portal to be located in the middle of the two
  existing shafts
• providing access to large ore blocks below
  existing mining levels
• Potential to increase long-term production to
  1Mtpa
• Decline Expansion Project subject to
• extension of Fixed Price Contract with HCL beyond
  2020
• confirmation of JORC resource from recent diamond
  drilling program

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Surda Cross Section
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Surda Achieving profitability

• Operation on track to achieve cashflow positive
  production level in September 2008
• Potential to increase projected EBITDA for Surda
  operation by 145 if decline development proceeds

Projected Cumulative Cash Flow
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Surda Mine Safety Community

• 850 workers on site
• Operations underpinned by core focus on safety
• LTIFR is 1.31 for Surda Mine and 4.7 for
  Mosaboni Plant (compared to 5.7 for West
  Australian underground mines in 2006)
• Strong community support
• IRL has been active in contributing to community
  programs, including maintenance of local
  reservoir, roads and parks
• LTIFR lost time incident frequency rate (lost
  time injuries per million hours worked)

Safety Statistics Surda Mine
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Hindustan Copper Limiteda Valuable Partnership

• Sole integrated producer of primary copper in
  India
• Listed on Mumbai, Delhi, Calcutta and Madras
  Stock Exchanges
• Several plants and mines
• Indian Copper Complex includes Surda Mine
• Khetri Copper Complex includes Khetri and
  Kolihan Mines
• Malanjkhand Copper Project
• Taloja Copper Project

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Khetri and Kolihan Mine (Hindustan Copper Limited)

• IRL has tendered for 42,000 metres of development
  and 1,000,000 metres of long hole production
  drilling
• Contract duration is 5 years
• Total value of the contract is approximately
  A128 million
• Expected profit from this activity is
  approximately A9 million per annum
• Further strengthens relationship with HCL
• Outcome of tender is expected to be announced in
  Oct/Nov 2008

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India Resources Overview

• Two streams of business
• Mine development
• Surda Copper Project
• Other projects pending through Commercial
  Alliance with Hindustan Copper Limited (Cu
  production icon key)
• Exploration
• Base metals (icon Askot Aravalli)
• Iron Ore (icons in Orissa and Jarkhand)
• Diamonds (icons)

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Pebble Creek Mining Limited (TSX) IRL 17

• Key asset Askot VMS base metal project in
  northern India
• Opportunity for IRL to fast track further
  development in India
• Mining approval granted by Indian Government in
  September 08

Reported at a net smelter return cut off of
US100 per tonne based on metal prices of US2.00
per pound of copper, US0.65 per pound of lead,
US0.90 per pound of zinc, US15.00 per ounce of
silver and US900 per ounce of gold and
metallurgical recoveries of 85, 78, 76, 60
and 60 respectively. Mineral resources are not
mineral reserves and do not have demonstrated
economic viability. All figures have been
rounded to reflect the relative accuracy of the
estimates.
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Exploration Aravalli Tenement

• Base metals project
• Copper, lead, zinc
• 2 granted Reconnaissance Permits
• Drilling program intersected widespread copper
  mineralisation
• 10m _at_ 1.5 copper
• Exploration Target of 95-135 million tonnes at
  2.2-4.5 Zn and 0.7-1.8 Pb

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Other Exploration Programs

• Iron Ore
• Several Prospecting Licence and Mining Lease
  applications submitted in Orissa and Jharkhand
  provinces
• Similar geology to Hamersley Basin in the Pilbara
• Prospective for DSO hematite
• Diamonds
• Three prospective exploration projects in known
  diamond producing provinces
• Bhandara (close to known diamondiferous
  kimberlite)
• Dharwar (two diamondiferous kimberlite pipes
  identified)
• Bundelkhand (close to Indias only producing
  mine)

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Summary Financial Positioning

• A3.8m working capital facility to underpin
  development at Surda expected to be fully repaid
  by March 2009 thereafter all profits will come
  back to IRL
• Support in place to extend working capital
  facility to allow doubling of production at Surda
• Future Surda operations substantially self
  sufficient without funding from Australia
• Khetri funding from HCL and banks for Khetri to
  be financially self sufficient and generate
  cashflow
• A1.5M working capital debt facility secured
  through Noble Group to fund corporate operating
  overheads

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Outstanding loan to Monarch Gold Mining

• IRL provided a 9.5 million loan facility to
  Monarch in 2007 under commercial agreement
• 3.5 million remains outstanding (unsecured)
• Poor production performance forced Monarch into
  administration
• IRL is seeking recovery of outstanding loan
  through the approved Administrator
• Actual recovery level likely to be unknown for
  some time, dependent on the proposed sale of
  assets

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Summary Outlook

• First stage copper production target to be
  achieved in September 2008
• Planning to double production through development
  of decline
• Strong brand name developing in the Indian mining
  community
• Experienced Board and Management
• Established partnership with Indian Government
  Corporation
• New mining projects constantly being offered and
  reviewed
• Exploration focus maintained
• Incredible India - the awakening Tiger

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• The successful establishment of an Australian
  mining company in India

Excellence in Mining Exploration Sydney - 16
September 2008