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January 2013

Corporate Presentation

Corporate PresentationJanuary 2013

Photo Fox Radio Hill Mine site

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Introducing Fox Resources

Fox Resources (FXR) is a Listed ASX Australian Exploration CompanyFocused on developing:

• Coal in Central Queensland • Diversified mineral assets in the Pilbara -

including, base metals, PGM’s gold, iron ore.Fox’s tenements are extensive including -

- Queensland 10,358 sq km- Pilbara WA 2,140 sq km

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Project Overview

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Start of a New Era

• New era of commodity diversification for Fox into Coal, and the acquisition of Pilbara Minerals Ltd tenements

• December 2012 – Fox acquired significant coal assets namely the Cliffs Currawong Coal Projects in Qld

• Tenements located in Queensland’s major coal bearing basins, the Bundaberg Tenement is prospective for coking coal

• January 2013 – Fox acquired Pilbara Minerals highly prospective tenements (80%) in Western Australia for base metals, PGM’s, and gold.

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Tier One Priorities

Coal• Drill program is planned for the Bundaberg

tenement in 1st Quarter 2013• International Coal Ltd announced Jan 2013

coking coal success on neighbouring tenement EPC 2196

• in discussions with potential coal exploration Joint Venture partners

Base Metals• Focus on the more prospective newly

acquired tenements

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Tier Two Priorities

Resume Nickel and Copper Production- treat the 300,000t of surface material at

Radio Hill- resume production at Fox Radio Hill

underground mine and the nearby ShollDeposit

- Develop satellite deposits close toFox Radio Hill which will providefeedstock to the operations eg Asyhia,and Whundo

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Background – Coal

• The package of tenements purchased from the Cliffs Currawong JVcomprised 15 granted EPCs and a single EPC application.

• The total area of the tenements is 10,358 sq. km. or 3,304 sub-blocks.

• The tenements are grouped into seven project areas containing oneor more EPCs and covering a variety of coal-bearing Permian andMesozoic Basins across central and eastern Queensland as listedbelow;

– Bundaberg Project (Maryborough Basin; 1 EPC)– Styx Project (Styx Basin; 1 EPC)– Emerald Project (Bowen Basin; 4 EPC’s)– Springsure Project (Bowen Basin, 3 EPC’s)– Alpha Project (Galilee Basin, 5 EPC’s)– Eromanga Project (Eromanga Basin; 2 EPC’s)– Barcomba Project (Bowen Basin; 1 EPC Application)

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Coal Exploration – Queensland

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Bundaberg Coal Project

• The Bundaberg Tenement - EPC1523 is Fox’s Flagship Project;

• Impact of the recent ICX/QCI JV drilling find (thick coal seams in the lower Burrum Coal Measures) in EPC1496 needs to be assessed. Potentially these coals could be suitable for making hard coking products;

• Importantly, Fox’s EPC 1523 tenement is adjacent to the south-east of this discovery

• Priority project in discussions to form a Joint Venture with a large Coal Exploration Company

• Also of importance is the compilation and validation of a database of historical drilling;

• Exploration program yet planned for 1st Quarter 2013

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Bundaberg Tenement EPC 1523

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Styx Coal Project

• Assessment by Fox suggests moderate prospectivity;• Independent Geologists Report has confirmed that hard

coking coal products possible – up-side very high if Fox can work through the challenges;

• Recent drilling and seismic by Waratah to the south – results unknown;

• Impact of restricted areas needs to be assessed;• Priority project in consultation with relevant government

bodies then the compilation and validation of a database of historical drilling;

• Rio Tinto (ASX:RIO) have confirmed interest in the region (EPC 2098) and are carrying out further exploration. Currawong tenements are considered to be in a more favourable position given that it is in the Styx basin.

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Springsure Coal Project• EPC bundle stretching >85km from just west of Springsure on the south-

eastern margin of Central Queensland’s Bowen Basin to south-east of Alpha, being the eastern margin of the Galilee Basin;

• Coal targets are:– Upper Permian Bandanna Formation, Black Alley Shale and Mantuan Formation; and

lateral correlative Colinlea Sandstone;– Middle-Lower Permian, mostly Freitag Formation, Aldebaran Sandstone, Reids Dome

Beds and Jochmus Formation;

• The area is largely underexplored, with multiple coal intersections mentioned in registered water bore drillers logs;

• Only limited, disjointed, exploration by Currawong Joint Venture participants has been undertaken, as budget restraints curtailed some programs. The purchase represents a huge opportunity to create a coal database and regional models to better identify target horizons and drilling sites;

• The objective is to find one or more 150-300Mt coal deposits of export thermal grade, amenable to open-cut mining techniques, within 100km of existing or proposed rail corridors.

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Alpha Coal Project

• Fox is buoyed by recent exploration by Cuesta Coal (ASX:CQC) in finding Betts Creek Beds 8,000m east of previously documented subcrop in the northern Galilee Basin. Coal has recently been located by Endocoal (ASX:EOC) in the Aldebaran Sandstone nearby;

• Fox’s view is that the area needs a desktop reassessment of the regional and local geology and re-processing of the available 2D seismic and re-interpretation using available software;

• An application to the Department of Natural Resources and Mines for project grouping status is required;

• An enormous amount of funding has been spent in this region by companies such as Hancock/GVK, Bandanna, AMCI, Waratah, Adani, Blackwoods, MacMin etc. Infrastructure will be in place to handle several large mining projects in the area around Alpha;

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Emerald Coal Project

• In general similar exploration targets to those at Springsure and Alpha;

• Independent Geologists recommended a re-assessment of the historical and recent exploration undertaken with the aim of identifying missed opportunities before looking at other options;

• An application to the Department of Natural Resources and Mines for project grouping status is required.

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Other Coal Projects

• Eromanga and Barcomba are currently green fields exploration plays;

• The EPC’s are not well understood geologically – current assessments identify that main target seams are deep (>150m);

• Barcomba Application needs progressing;• This area is seriously under-explored and coking

or PCI coal targets are known to exist under the Duaringa Basin Tertiary cover;

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The Way Forward – Coal

Collate

Regional Geophysics

Regional Structural model

•Create database;•Load and validate data;•Pre-model contouring;

•Compile available data;•Re-interpret local

seismic lines (Dugs)

•Coal seams•Horizons of interest•Generate Target areas

“Within the tenure bundle, sufficient historical intersections of coal have not beensystematically captured, coded and modelled; and along with a lack ofunderstanding of the local geology has lead to an undervaluing of the coalpotential of each geological terrain. This project aims to combine disparategeological and geophysical data sets so as to target areas for furthercoal exploration.” 16

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Fox’s Exploration Strategy

• Prospects at a range of development stages from greenfields through to defined resources

• Exploration conducted utilizing Newexco Services an exploration consultancy with proven track record of success

• Exploration strategy:New focus on the coal tenements in Queensland, the prime target is Bundaberg for coking coal New focus on the recently acquired Pilbara Minerals tenements – which are highly prospectiveFocus on disseminated sulphide deposits for nickel/copper to increase the resource inventory at Fox Radio Hill MineAssess the magnetite iron ore project with JV Mt OscarPursue promising gold targets – Star of Mangaroon

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Pilbara Minerals Tenements

• January 2013 – Fox acquired additional tenements to increase Fox’s footprint through a Joint Venture with Pilbara Minerals

• Fox’s tenement holdings has now increased by 87% from 1,142 sq km to 2,140 sq km in the Pilbara

• The tenements are considered prospective for base metals, PGM’s and/or gold mineralisation

• VTEM has provided some exciting anomalies which Fox is focusing on, and a drilling program will be announced shortly, which will add to Fox’s exploration targets 14

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Pilbara Minerals Tenements

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Copper/Zinc Exploration

• Whundo prospects/deposits occur in a bi-modal volcanic sequence – “classic (VMS)” setting

• Copper/Zinc mineralisation has been defined over a strike length of ~10 km

• Fox holds tenure over a significant strike length of the Whundo sequence along strike to the north-east

• Exploration drilling planned for Ayshia, Austin (lies beneath Whundo), Conquest and Sunchaser

• Possibility of resource extensions in the Whundo area

• Aim to develop the VMS camp into a pipeline of mineable projects

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Copper/Zinc – Ayshia Deposit

• Recent exploration success• Copper – Zinc deposit within

the prospective Whundo Group volcanics

• Drilling down-plunge of resource has doubled the previously defined plunge extent

• Best Intersections:• 9.25m @ 4.4% Cu• 23.7m @ 3.2% Cu• 17.0m @ 2.9% Cu• 35.7m @ 1.7% Cu

• Planned Drilling Program in early 2013 – three Diamond Drill holes

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Pilbara – Nickel/Copper Exploration

• Focus on generating a pipeline of targets to consolidate the defined resources at Radio Hill and Sholl

• Primary focus: delineating additional resources to extend the life of the bacterial heap leach project

• Large tenement holding surrounding Radio Hill• Large tonnage, low grade Nickel-Copper deposits

amenable to bacterial heap leaching• Potential for increases in low grade resources that

may have been overlooked in the past

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Summary Base Metal Mineral ResourcesCommodity Classification Tonnes Ni % Cu %

Nickel/Copper

Indicated 4,300,000 0.60 0.86

Inferred 8,739,000 0.47 0.63

Total 13,039,000 0.51 0.71

Contained Metal (tonnes) 66,774 92,149

Commodity Classification Tonnes Cu % Zn %

Copper/Zinc

Measured 690,000 1.24 1.11

Indicated 857,000 1.03 0.93

Inferred 140,000 0.80 0.20

Total 1,687,000 1.1 0.94

Contained Metal (tonnes) 18,533 15,909

Commodity Classification Tonnes Zn %

Zinc

Measured 244,000 1.71

Indicated 593,000 2.42

Inferred 273,000 1.3

Total 1,188,000 1.93

Contained Metal (tonnes) 22,911

Complete Mineral Resource Statements can be found in the appendix to this presentation

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Gold Exploration – Star of Mangaroonand the West Pilbara Golf Prospects

• A high grade vein (>1oz/tonne) was mined in the 1960s to 1980s at the Star of Mangaroon mine

• Located in the Gascoyne region of Western Australia, mineralisation is open at depth

• Drilling is planned to test the vein to deeper levels and along strike, Fox has a large tenement holding surrounding the mine

• Regional exploration program completed December 2012 –sediment sampling - designed to generate additional gold targets

• Mt Regal – 2.8km strike length of anomalous gold – best intersection 1m @ 8.4 g/t Au from 21m downhole RAB hole

• Railway Bore – Recent drilling 0.1m intersections up to 50 g/t Au, assessing potential

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Gold – Star of Mangaroon Mine

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• Magnetic South to spend $20m over 5 years to earn 60% interest in all minerals within project tenement

• Fox retains 40% of project• JORC Inferred Resources of 72.4Mt

@ 34% Fe

• February 2013 Drilling Program includes :

o 10 Diamond Drill holes designed to extend existing magnetite resource

o White Quatrz Hill Gold Project – 50 Air core Holes to be drilled concurrently

Mt Oscar Iron Ore Magnetite Project

CAPE LAMBERT PROJECT - MCC

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Radio Hill Production Summary

• Resumption of production at Radio Hill, followed by operations at Sholl Project

• Overall project mineral resources of 13Mt at Ni 0.51% and Cu 0.71%

• Total project metal tonnes projected production – nickel 31,661t, copper 28,329t

• Target production of 5,000t nickel per annum and 5,000t copper per annum

• Treatment process is bacterial heap leach and sulphidisation, yielding higher grade products

• Scoping study released August 201127

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Summary

• Great exploration potential for Coal in Queensland, and Base Metals in the Pilbara especially with the new Pilbara Minerals tenements

• Diversification across minerals – coal, copper, nickel, gold and iron ore

• All projects distinguished by proximity to the coast and key infrastructure

• Strong potential to move into project development over short to medium term

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Corporate Structure

Ordinary Shares 407 million

Market Cap ($0.046) AUD $19 million

*Debt Nil

Listed on ASX 2002

ASX Code FXR

Significant Shareholders(as at 13 March 2012)

Shares (m)

%

Jungle Creek Gold Mines Pty Ltd 77.6 19.08

Breeton Pty Ltd 47.3 11.61

GTE Superannuation Pty Ltd 37.5 9.21

Jinchuan Group Ltd 32.9 8.08

Northmead Holdings Pty Ltd 10.5 2.58

Top 20 Shareholders 251.6 61.80

* $1.4 million in HP Assets 29

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DisclaimerThe information within this presentation relating to exploration activities on theCompany’s projects is based on information compiled by Kelvin Fox who is amember of the Australasian Institute of Mining and Metallurgy. Mr Fox hassufficient experience which is relevant to the style of mineralisation and type ofdeposit under consideration and to the activity which he is undertaking to qualify asa Competent Person as defined in the 2004 Edition of the ‘Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Foxhas consented to the inclusion in the presentation of the information on the MtOscar Iron Ore Project in the form and context represented above.

Cautionary statement regarding inferred and indicated resources

The production targets, and the revenue and valuation information based on thosetargets, set out in this presentation are currently conceptual in nature and relate tofuture production goals based on Fox's current inferred and indicatedresources. [While the resources are adequate to support these production targets]the resources are not ore reserves within the meaning of the Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves (JORCCode) and, therefore, it is uncertain whether they can be mined in an economicallyviable manner in order to achieve those targets. There remains at presentinsufficient certainty with respect to whether economically mineable mineralisationexists to reliably estimate future production rates.

Forward looking statements

This presentation includes forward looking statements. All statements other thanstatements of historical facts included in this presentation, including, withoutlimitation, those regarding Fox's plans, objectives, estimates and targets in relationto the Radio Hill Heap Leaching Operation (including development plans andobjectives relating to production forecasts), are forward looking statements. Suchforward looking statements involve known and unknown risks, uncertainties andother factors which may cause the actual results, performance or achievements ofFox to be materially different from any future results, performance or achievementsexpressed or implied by such forward looking statements.

Such forward looking statements are based on numerous assumptions regardingFox's present and future business strategies and the environment in which Fox willoperate in the future. Among the important factors that could cause Fox's actualresults, performance or achievements to differ materially from those in the forwardlooking statements include, among others, levels of actual production during anyperiod, levels of demand and market prices, the ability to produce and transportproducts profitably, the impact of foreign currency exchange rates on market pricesand operating costs, operational problems, political uncertainty and economicconditions in relevant areas of the world, the actions of competitors, activities bygovernmental authorities such as changes in taxation or regulation and such otherrisk factors. Forward looking statements should, therefore, be construed in light ofsuch risk factors and undue reliance should not be placed onforward looking statements.

The material used in this presentation is intended to be a summary of selectedgeological data, current and proposed activities, as well as resource estimatesbased on information available to Fox Resources Limited at the time. It doesnot include all available information and should not be used in isolation as abasis to invest in Fox Resources. Any potential investors should refer to FoxResources Limited ASX releases and statutory reports before consideringinvesting in the company.

Information in this presentation that relates to Mineral Resources is based oninformation compiled by Mr Jeremy Peters, who is a Member of TheAustralasian Institute of Mining and Metallurgy. Mr Peters is a full-timeemployee of Snowden Mining Industry Consultants Pty Ltd. Mr Peters hassufficient experience, which is relevant to the style of mineralisation and typeof deposit under consideration and to the activity which he is undertaking toqualify as a Competent Person as defined in the 2004 Edition of the“Australasian Code for Reporting of Exploration Results, Mineral Resourcesand Ore Reserves” (the JORC Code). Mr Peters consents to the inclusion inthe document of the matters based on his information in the form and contextin which it appears.

The information within this presentation as it relates to mineral explorationresults and geophysics is based on information compiled by Fox ResourcesLtd and William Amann and Adrian Black of Newexco Services Pty. Ltd.William Amann and Adrian Black are members of the Australian Institute ofGeoscientists and have sufficient experience, which is relevant to this style ofmineralisation and deposit under consideration to qualify as a CompetentPerson as defined in the 2004 Edition of the “Australian Code for Reporting ofExploration Results, Mineral Resources and Ore Reserves”. William Amannand Adrian Black consent to the inclusion in the presentation of the mattersbased on the information in the form and context in which it appears.

The information in this presentation that relates to estimation resources in theform of surface stockpiles and tailings storage facilities is based on datacompiled by Mr Michael Gunn, who is a Member of The Australasian Instituteof Mining and Metallurgy. Mr Gunn is the principal of Gunn Metallurgy and hassufficient experience which is relevant to stockpiles and tailings storagefacilities and to the activity which he is undertaking to qualify as a competentperson. Mr Gunn consents to the inclusion in the document of the mattersbased on his information in the form and context in which it appears.

The information in this presentation which relates to the Sholl MineralResource estimate has been reviewed and approved for release by Mr IvorJones, who is a Fellow of the Australasian Institute of Mining and Metallurgyand Chartered Professional. Mr Jones is a full-time employee of SnowdenMining Industry Consultants and has sufficient experience in relation to thestyle of mineralisation and type of deposit under consideration to qualify as aCompetent Person as defined by the 2004 Edition of the ‘Australasian Codefor Reporting of Exploration Results, Mineral Resources and Ore Reserves’.Mr Jones has consented to inclusion in this press release of this information inthe form and context in which it appears.

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For further information please contact:

Bruce GarlickChief Executive Officer1 Tully Road, East Perth Western Australia 6004

Tel: + 61 8 9318 5600fxr@foxresources.com.au

www.foxresources.com.au

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