Platinum Exploration

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Platinum Exploration
Agricola Resources plc
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• Agricola Resources is involved
• in platinum exploration and
• development
• New Management Team
• Trading on OFEX AGC
• Exploration to commence
• in Shetland, Sweden and
• Northern Ireland

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• Directors
• Robert Young Executive Chairman
• Aged 59, he holds a first class honours degree in
  geology and chemistry, a MSc in Mineral
  Exploration and Mining Geology and a PhD in
  geochemistry. He has over 30 years of varied
  experience in the mining industry in Europe and
  South East Asia. Positions held included director
  of Minerex Limited (Ireland), chief metals
  geologist for Shell Metals (Indonesia) and
  founding Managing Director of Cambridge Mineral
  Resources PLC and Angus Ross PLC.
• Richard Newstone Finance Director and
  Company Secretary
• Aged 54, he is a Chartered Accountant in public
  practice. He has previous management experience
  of coal mining in Scotland and in the past also
  worked on taxation aspects of the North Sea Oil
  Industry.
• Gavin Burnell Non Executive Director
• Aged 26, he has worked within the smaller-cap
  equities market, particularly OFEX, for the last
  four and half years. He acts as a consultant to
  Ruegg Co. Limited which has won OFEX Corporate
  Advisor of the Year for the last two years. He is
  also Managing Director of Woodland Capital
  Limited, an investment company specialising in
  investments in smaller companies, both private
  and public.
• Gavin has good experience of the small cap sector
  both in advising companies, structuring
  fundraisings and raising finance and an excellent
  knowledge of the OFEX market and its mechanics.
  Mr Burnell will be a great asset in assisting the
  Company to achieve its development plans.

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• Corporate Advisor
• Ruegg Co Limited
• 39 Cheval Place
• London SW7 1EW
• Operating Office
• 1 Green Hill
• Little Thetford
• Ely, Cambs, CB6 3HD
• Website
• www.agricolaresources.com
• Company Number
• 4018807

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• Issued Share Capital
• 68,403,137 Ordinary Shares at 1p
• Warrants
• 26,879,240 at a price of 1p per share
• allotted any time until 31st October 2005
• Major Shareholdings
• B.Rowan 24.24
• T. Anderson 14.62
• Resources
• Investment
• Trust plc - 11.94

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Platinum and Palladium Market

• In 2003 the platinum market remained in deficit
  for the fifth consecutive year, due to the large
  usage of autocatalysts in the automotive
  industry.
• This has resulted in the price of platinum
  doubling since January 2000. The continuing
  market deficit has driven the price up to US 850
  per oz in February 2004.
• The outlook for platinum remains sound. The
  automotive and jewellery sectors remain the
  pillars of the market. Automotive usage will grow
  due to stricter emission standards worldwide and
  increasing diesel vehicle sales. The return of
  economic growth worldwide will also bolster
  platinum use.
• Platinum (Pt) is one of a group of six precious
  metals known as the platinum group elements
  (PGE), which also includes palladium (Pd),
  rhodium Rd), iridium (Ir), ruthenium (Ru) and
  osmium (Os).
• Auto industry demand for palladium is expected to
  increase in 2004

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Platinum price chart - US

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Palladium price chart - US

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• Shetlands
• On the 26th February 2004 Agricola signed an
  option agreement with Beowulf Gold PLC to acquire
  its interest in the agreement with Sandisons for
  acquiring exclusive exploration rights for a
  Platinum Group Elements (PGE) property in the
  Shetland Islands, Scotland.
• The Sandison Property, covers about 8 square
  miles on the Island of Unst, the most northerly
  inhabited island in the British Isles.
• If Agricola exercises the option with Beowulf it
  will pay 7.5 million Agricola shares and will
  agree to pay a US1.0 per ounce royalty on any
  platinum production from the property

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Platinum Exploration on the Isle of Unst
Agricola Resources plc
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? Unst

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The Isle of Unst
?Baltasound
Exploration area
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? Baltasound
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Unst, principle ophiolitic rocks
Mineralogy
Dunite a peridotite consisting almost wholly of
olivine and containing accessory pyroxene and
chromite   Harzburgite a peridotite composed of
olivine and subordinate orthopyroxene with
accessory opaque oxides   Wehrlite a peridotite
comprising olivine and diopsidic clinopyroxene
Gabbro a pyroxene gabbro altered to a mixture
of actinolite, after pyroxene, and saussuritised
plagioclase
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The Baltasound area
Quoys
Loch of Cliff
Talc on basal thrust
Basement Metasediments
Talc on basal thrust
Weherlite
Harolds Wick
Harolds Grave
Cliff
Crussa Field
The Heogs
basal thrust
Dunite
Nikka Vord
Harzburgite with Dunite pods

Chromite quarries
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The Baltasound area
Quoys
Loch of Cliff
Talc on basal thrust
Basement Metasediments
Talc on basal thrust
Weherlite
Harolds Wick
Harolds Grave
Cliff
Crussa Field
The Heogs
basal thrust
Dunite
Nikka Vord
Harzburgite with Dunite pods

Chromite quarries
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Eastern type Mineralisation
PGE enrichment which is Os, Ir, Ru dominant. This
has a magmatic signature with a higher
temperature phase, not dissimilar to PGE patterns
which are associated with ophiolite complexes,
worldwide. This mineralisation is associated
with chromites from several quarries in the
central and eastern parts of the Baltasound area
and is best developed at a location known as
Harolds Grave quarry.
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Western type Mineralisation
(Positive slope)
Eastern type Mineralisation
(Negative slope)
Diagram courtesy of the British Geological Survey
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The Baltasound area
Quoys
Loch of Cliff
Talc on basal thrust
Basement Metasediments
Talc on basal thrust
Weherlite
Harolds Wick
Harolds Grave
Cliff
Crussa Field
The Heogs
basal thrust
Dunite
Nikka Vord
Harzburgite with Dunite pods

Chromite quarries
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Sweden

• Large geological potential
• Underexplored prospective ground
• Modern mineral legislation
• Excellent infrastructure
• Political and economic stability
• Long history of mining
• Good information service
• Skilled and productive workforce
• No royalties, 23 corporate tax

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Sweden Mafic intrusions anomalous in PGE Au
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21g/t Platinum at outcrop

KläppsjÖ mafic intrusion
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Ireland

• The Governments of both Northern Ireland and
  the Republic of Ireland are firmly committed to
  encouraging exploration and development in an
  environmentally friendly manner
• Tyrone Igneous Complex
• Prospective for ophiolite-
• related Platinum Group
• Minerals

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Geological Map Of Ireland
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The Future

• The Directors will work hard to increase the
  shareholder value of the Company through 2004 and
  beyond.
• The OFEX Market will be open to four market
  makers in the third quarter of 2004
• J. P. Jenkins Ltd.
• Teather Greenwood
• Hoodless Brennan
• Winterflood
• This will make OFEX open to institutional
  investors and thus it will become more dynamic.
• If institutional investment is not forthcoming on
  OFEX, Agricola Resources PLC will apply to the
  AIM Market of the London Stock Exchange.