Investor Presentation at the 2013 Gold Investment Symposium in Sydney, 16-17 October 2013. Presentation given by Middle Island Resources' Managing Director, Rick Yeates.

1. Exploring
Golden Frontiers
Middle Island Resources

2. Disclaimer Notice and Competent Person’s Statement
Disclaimer Notice
The material in this presentation (“material”) is not and does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security in Middle Island Resources Limited
(“MDI”) nor does it form the basis of any contract or commitment. MDI makes no representation or warranty, express or implied, as to the accuracy, reliability or completeness of this material.
MDI, its directors, employees, agents and consultants shall have no liability, including liability to any person by reason of negligence or negligent misstatement, for any statements, opinions,
information or matters, express or implied, arising out of, contained in or derived from, or for any omissions from this material except liability under statute that cannot be excluded. Statements
contained in this material, particularly those regarding possible or assumed future performance, costs, dividends, production levels or rates, prices, resources, reserves or potential growth of
MDI, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and
unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of
factors.
Qualified Person’s Statement
The estimates of mineral reserves and resources were estimated as at December 31, 2012, the whole in accordance with the provisions adopted by the Canadian Institute of Mining
Metallurgy and Petroleum and incorporated into NI 43-101. These reserve and resource estimates from Samira Hill Mine were reviewed and approved by, Mr. Michel A. Crevier, P. Geo,
MScA, Vice-President Exploration and Mining Geology, Semafo’s “qualified person” (as defined in NI 43-101).
Competent Persons’ Statement
Information in this report relates to exploration results or mineral resources that are based on information compiled by Mr Rick Yeates and Mr Beau Nicholls who are fulltime employees of MDI
and are Members of the Australasian Institute of Mining and Metallurgy (AusIMM) and the Australian Institute of Geoscientists (AIG) respectively. Mr Yeates and Mr Nicholls have sufficient
experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Persons as defined in the 2004
Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Yeates and Mr Nicholls consent to the inclusion in the presentation of the
statements based on their information in the form and context in which they appear.
Information relating to mineral resources associated with the Tialkam South Prospect is based on information compiled by Mr Bradley Ackroyd, a Member of the Australian Institute of
Geoscientists (Competent Person). Mr. Ackroyd is an independent resource consultant and has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (JORC Code 2004). Mr. Ackroyd consents to the inclusion of the matters based on his information in the form and context in which it appears.
Please note with regard to exploration targets, the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is
uncertain if further exploration will result in the determination of a Mineral Resource.
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3. Capital Structure
Shares on Issue
Unlisted Options
Number of Shareholders
ASX Code: MDI
125m (175m)
18.5m
~700
Top 20 Shareholders
~63%
Directors
~21%
Institutions
~30%
Newmont
~10%
Cash (30/06/13)
A$5.63m
Market Cap (at A$0.11)
A$13.8m
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4. Board and Management Team
Peter Thomas
(Non-Executive
Chairman)
Rick Yeates
(Managing Director)
Beau Nicholls
(Technical Director)
Linton Kirk
(Non-Executive
Director)
Dennis Wilkins
(Company Secretary)
Andrew Chubb
(Exploration Manager)
• Retired Solicitor • Corporate and commercial mining industry advice since
1980 • Served on the boards of various listed companies since the 1980s
• Founding Chairman of Sandfire Resources NL • Currently Chairman of four
ASX listed companies
• Geologist • 32 years international experience • BHP, Newmont and Amax
• Co-founded consulting firm RSG (subsequently RSG Global & Coffey Mining)
• 23 years experience in West Africa • Non-executive Director of Western Areas
Limited
• Geologist • 18 years international experience in mining and exploration
• Proven track record of discovery & development on four continents • 10
years international consulting experience with RSG, RSG Global & Coffey
Mining • 3 years as Regional Manager - West Africa • Worked in all West African
jurisdictions
• Mining Engineer • 32 years international experience in mining, earthmoving,
contracting, management & consulting • Extensive African gold experience as
mining manager/general manager in Ghana, Zimbabwe & Zambia • Previously
Partner & Manager Mining for RSG Global & Chief Mining Engineer for Coffey
Mining • Non-executive director of MACA Limited
• Accountant • Principal of DW Corporate – corporate advisors • Director,
company secretary or corporate advisor to listed resource companies over 25
years • 5 years merchant banking in London • Extensive capital raising
experience • Director of Key Petroleum & Minemakers
• Geologist • 14 years international experience including Mali, Tanzania, DRC,
Tunisia • Consultant & company geologist • Proven record of project
management • Highly developed technical & management skills
• Speaks French • Resident in West Africa
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5. Corporate Strategy
• Gold.
• West Africa.
• Minimum +1Moz ‘stand-alone’
resource base.
• Leverage off management’s 24
years local experience & contacts.
• Jurisdictions with acceptable risk
profile.
• Jurisdictions with exposure to US$
gold price & costs.
• Domains with track record of
successful project development.
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6. Projects
• 3 West African countries
(combined area of
~4,244km2)
• Seeking to acquire 80%
interest in the Samira Hill
gold mine & mill, plus hold
70-100% interest in a further
7 exploration permits,
comprising the Sirba Project
– Niger (2,577km2)
• 100% of Reo Project
– Burkina Faso (1,166km2)
• 100% of Nuon River Project
– Liberia (1,135km2)
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7. Sirba Project (Niger) - Overview
• Consolidation of
entire Sirba
greenstone belt,
including the Samira
Hill gold operation.
• 70-100% interest in a
further 7 permits
covering 2,577km2 of
under-explored
Birimian greenstones.
• Covers 100km strike
length of JICA regional
gold soil anomaly.
• Samira Hill
processing plant
centrally located.
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8. Sirba Project – Samira Hill Acquisition
• Non-binding Heads of Agreement to purchase an 80% interest in the
Samira Hill gold mine, via the acquisition of all the shares in AGMDC
(a wholly-owned indirect subsidiary of SEMAFO Inc.), which owns an
80% interest in Société des Mines du Liptako (SML) S.A., owner and
operator of the Samira Hill Project.
• The Government of Niger owns the remaining 20% interest in SML.
• Purchase comprises a cash payment of US$1.25m and a net smelter
return (NSR) royalty of 1.2%, payable at or above a gold price of
US$1,450/oz & capped at US$12m.
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9. Samira Hill - Production
• 2Mtpa oxide CIL processing facility, grid power & 6MW power station,
tailings dam, 4ML process water reservoir, ancillary mobile fleet, mill
spares, consumables, workshops, warehouses, 200 man camp & airstrip.
• 1.35Moz in reserves and resources (as at 31 December 2012).
• Reserves: 2-3 years production from Q4 2013 at ~50,000oz per annum.
• Potential mine life of >8 years if Inferred Resources are successfully
converted.
• Considerable resource and exploration upside.
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10. Samira Hill - Tala Tonde Deposit
• Inferred Resource of 2.6Mt
at 1.89g/t Au (157,000oz).
• 15km from Samira Hill
process plant, 5km of which is
on existing haul road.
• Priority target for infill drilling.
• Represents priority, higher
grade production & revenue
opportunity.
• Abundant exploration potential
along magnetic trend between
Tala Tonde & Libiri.
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11. Sirba Project - Tialkam South Prospect
• Presents a significant
resource opportunity.
• 12km from Samira
Hill processing plant.
• Initial 4,314m RC
resource drilling
program completed.
• Exceptional maiden
drill results include:





21m at 4.89g/t Au
19m at 4.16g/t Au
17m at 3.05g/t Au
12m at 4.34g/t Au
15m at 2.30g/t Au
13m at 2.73g/t Au
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12. Sirba Project - Tialkam South Prospect
• Indicated and Inferred Resource of
2.02Mt at 1.82g/t Au, 117,300oz gold.
• Indicative average recoveries of
95% and 78% from oxide and
transitional mineralisation
respectively.
• Initial strike length of 350m, to a depth
of ~100m & remains open in all
directions.
• Represents priority, higher grade
production & revenue opportunity.
• Further 9 satellite targets identified
within Tialkam & Deba permits.
• Permit extensions in progress.
• Agreement with partners for MDI to go
direct to 100% interest in exchange for
a 1.5% NSR royalty with a buy-out
option.
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13. Sirba Project - Kimba Prospect
• Greenfields discovery in the Nassilé permit.
• No artisanal workings or surface geochemical
expression.
• 10km long, high tenor (to 3.1g/t Au) auger
anomaly, with multiple results >0.5g/t
(500ppb) Au.
• Veneered by 7-9m of alluvial cover.
• Three en echelon zones (aggregate 16km
strike length).
• Lies between arcuate granodiorite contact to
west & major first order structure (50m wide
quartz vein) to east.
• Auger anomaly infilled to 200m x 100m
spacing.
• Reconnaissance RC drilling recently
completed.
• Exceptional, priority target.
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14. Reo Project (Burkina Faso) - Overview
• 7 permits covering
1,166km2.
• 150km west of
Ouagadougou.
• Excellent access and
infrastructure.
• Proximal to new gold
operations (Mana,
Bissa).
• 50km long shear zone
provides focus for
exploration.
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15. Reo Project - K4/K5 Prospect
• 1-2Moz target potential.
• Veneered by 4m of transported laterite
cover.
• 60m deep oxide profile.
• Extensive, zoned alteration system.
• 5,000m infill RAB & 5,000m RC programs
recently completed.
• 2.5km long, open-ended mineralised
zone.
• Plus 4 higher grade satellite targets within
4km radius.
• Gold recoveries of 93%, 97% and 95% for
oxide, transitional and primary ore types.
• More significant intersections include
18m at 2.51g/t , 4m at 16.2g/t, 4m at
14.0g/t, 12m at 4.99g/t, 12m at 4.11g/t,
4m at 12.2g/t, 36m at 1.25g/t &
16m at 2.66g/t Au.
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16. Reo Project - Morley Prospect
• Two, broad, high grade
east-west trending
lodes that dip
moderately north.
• Numerous significant
trench & drill results
defined to date:- 34m at 16.4g/t Au
- 10.6m at 17.4g/t Au
- 39m at 2.62g/t Au
- 10m at 9.63g/t Au
- 38m at 2.51g/t Au
- 11m at 7.97g/t Au
- 10m at 7.55g/t Au
• High grade, open pit
satellite resource.
• 20km north of K4/K5.
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17. Nuon River Project (Liberia) - Overview
• 100% interest in 5
permits covering
1,135km2.
• BLEG stream sediment
sampling & airborne
magnetic surveys
completed over whole
project area.
• 8 priority gold
anomalies defined.
• Mambo & Middle East
prospects most
significant.
• Probable divestment.
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18. Community Development
• Essential to build political & social capital from the
outset.
• Up to 5% of annual exploration budget dedicated to
community development programs & projects.
• Ten projects completed or underway in all three jurisdictions.
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19. 2013-14 Exploration & Feasibility Program
• Total Budget up to $9.12m (incl. Samira Hill)
• Samira Hill ($5.14m)
– Tala Tondé (infill and extension RC drilling).
– Tondé Boubangou (infill RC drilling).
– Budget included in cashflow modelling.
• Sirba Project ($2.04m)
− Tialkam South (infill RC, feasibility studies).
− Sefa Nangue (RC drilling, metallurgy, studies).
− Kimba (RAB & RC drilling).
• Reo Project (up to $1.94m)
− K4/K5 (RC drilling, metallurgy,
baseline studies).
• Nuon River Project
− Divest.
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20. Conclusions
• Potential near-term cashflow from
Samira Hill (~50,000oz pa).
• Highly experienced West African
team.
• Capital structure intact.
• ~A$5M cash; raised a further A$5M.
• Newmont as a cornerstone
corporate shareholder (10.15%).
• Major international institutions well
represented on register (~30%).
• Quality exploration & development
projects.
• Ideally positioned for production
and further discoveries.
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21. Unit 2, 2 Richardson Street West Perth
Western Australia, 6005
Tel +61 (08) 9322 1430
Fax +61 (08) 9322 1474
www.middleisland.com.au