MILLENNIUMMILLENNIUMMILLENNIUMMILLENNIUMMINERALS LIMITEDMINERALS LIMITED

C O R P O R A T E P R E S E N T A T I O NAugust 2009

An Emerging Gold ProducerEast Pilbara District - WA

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DisclaimerThis presentation contains only a brief overview of Millennium Minerals Limited TheThis presentation contains only a brief overview of Millennium Minerals Limited. Thecontents of this presentation, including matters relating to the geology of Millennium’sprojects, may rely on various assumptions and subjective interpretations which it is notpossible to detail in this presentation and which have not been subject to any independentverification.

This presentation contains a number of forward looking statements. Known and unknowni k d t i ti d f t t id f Mill i ’ t l th t lrisks and uncertainties, and factors outside of Millennium’s control, may cause the actual

results, performance and achievements of Millennium to differ materially from thoseexpressed or implied in this presentation.

To the extent permitted by law, Millennium does not warrant the accuracy, currency orcompleteness of the information in this presentation, nor the future performance ofMillennium, and will not be responsible for any loss or damage arising from the use ofp y g ginformation.

The information contained in this presentation is not suitable for detailed investigation oranalysis of any particular issue. Current and potential investors and shareholders shouldseek independent advice before making any investment decision in regard to Millennium orits activities.

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Who is Millennium Minerals Limited ?

An emerging gold producer in the East Pilbara District of Western Australia

Contiguous tenement holding (210km² ) south of the township of Nullaginetownship of Nullagine

Tenements contain a large gold Mineral Resource (+1.1M )ounces)

Strong management team with excellent track record of transitioning Explorers to Producers

East Pilbara emerging as a world-class minerals province East Pilbara emerging as a world class minerals province (Au, Fe, Mn, Cu, Mo and W)

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Corporate Information

Capital Structure:Shares on issue – 405,183,934

Board of Directors:Peter Rowe

• ChairmanOptions – 26,200,000Fully Diluted – 431,383,934

Market Capitalisation:

• ChairmanClive Donner

• DirectorRoss GillonMarket Capitalisation:

Undiluted – A$14.9 mFully Diluted – A$15.9 m

Ross Gillon• Director

Simon Durack• Directory

Major Shareholders:LinQ Resources FundANZ Nominees

• DirectorManagement:

Brian Rear• Chief Executive OfficerANZ Nominees

ASX Code:MOY

• Chief Executive OfficerSimon Pooley

• GM OperationsPierre MalherbePierre Malherbe

• CFOMark Killmier

• Company SecretaryCompany Secretary

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Our Mission

“To create a profitable mid-tier gold producingcompany generating value for shareholders whilstcompany generating value for shareholders whilstcontinually seeking additional opportunities toi h h ld l th h f thincrease shareholder value through furtherdevelopment of organic growth opportunities”

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Nullagine Gold Project

The Nullagine Gold Project is located 10km south of the township of NullagineNullagine

Mineral Resources have been estimated for 5 deposits, the largest being Golden Eaglebeing Golden Eagle

The global Mineral Resource is estimated at 28.1Mt at 1.26 g/t for 1 1M contained Au ounces (0 5 g/t Au lower cut off)1.1M contained Au ounces (0.5 g/t Au lower cut off)

Feasibility study was completed in 2006 but was shelved in 2007 due to a falling gold price and an appreciating AUD$to a falling gold price and an appreciating AUD$

All project approvals, permitting and native title completed prior to the 2007 cessation2007 cessation

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East Pilbara Mineral Province

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Nullagine Gold Project Setting

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Nullagine Project - Business Plan

Rejuvenate 2006 – 2007 Feasibility Study ( Current)Confirm mining, processing and admin costsUpdate capexUpdate capexIndentify available plant

Determine Cash Flows (Current)Finalise cash flow modelDefine financing structureDefine financing structureOrder long lead items of plant

C t ti t P d tiConstruction to ProductionFirst gold Q4 2010 – Q1 2011

Longer term goal - expand production to 100koz paOrganic growth through exploration successDefine heap leach potentialDefine heap leach potential

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Mineral ResourcesMeasured Indicated Inferred TotalMeasured Indicated Inferred Total

Deposit

Cut-off Grade (g/t

Au)

Mt Grade Mt Grade Mt Grade Mt Grade Ounces

(g/t Au) (g/t Au) (g/t Au) (g/t Au) (Au)

Golden Eagle² 0.5 11.43 1.26 4.6 1.02 4.04 1 20.07 1.16 749,000

Shearers² 0.5 0.59 1.09 1.04 0.87 0.4 0.9 2.03 0.93 61,000

Bartons² 0.5 1.33 1.47 0.85 1.48 0.37 1.7 2.55 1.51 125,000

All Nations² 0 5 1 11 1 3 0 19 1 04 0 14 1 1 1 45 1 25 58 000All Nations² 0.5 1.11 1.3 0.19 1.04 0.14 1.1 1.45 1.25 58,000

Golden Gate (ABCD Reef)² 0.5 0.58 3.24 0.11 2.6 0.68 3.12 69,000

Golden Gate Satellites³ 0.5 0.33 3 0.13 3.4 0.46 3.1 45,000

Little Wonder² 0.5 0.44 1.13 0.4 1.2 0.85 1.17 31,000

Notes:

Totals 0.5 14.46 1.28 8.03 1.3 5.59 1.14 28.09 1.26 1,138,000

1. Figures in Table may not sum due to rounding.

2. The Mineral Resources were estimated using Multiple Indicator Kriging methodology for grade estimation by Hellman and Schofield Pty Ltd.

3. The Golden Gate satellite deposits namely Falcon, Harrier, Crow, G Vein and Condor were estimated using Ordinary Kriging methodology for grade estimation by CSA Global.

4. The table excludes royalties payable to third parties.5. The Golden Gate and Bartons deposits are the subject of a mining licence agreement whereby Millennium has the sole and exclusive right to explore and mine gold and other minerals Millennium then is required to pay 25% of the net proceeds to the tenement owners (Livestock Marketing Pty Ltd Duncan Thomas Young Simba Holdings Pty Ltd andminerals. Millennium then is required to pay 25% of the net proceeds to the tenement owners (Livestock Marketing Pty Ltd, Duncan Thomas Young, Simba Holdings Pty Ltd and Ronald Lane Swinney) after mining and processing cost deductions.

The reported Mineral Resource as it relates to Golden Eagle, Bartons, Shearers, All Nations, Little Wonder and Golden Gate ABCD reefs has been compiled by Mr Nic Johnson. MrJohnson is a Member of the Australian Institute of Geoscientists and an employee of Hellman & Schofield Pty Ltd. He has sufficient experience, relevant to the style of mineralisationand type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the ‘Australasian Code for Reporting of MineralResources and Ore Reserves’ of December 2004 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, theAustralian Institute of Geoscientists and the Minerals Council of Australia. The Competent Persons listed consent to the inclusion in the report of the matters based on theirinformation in the form and context in which it appearsinformation in the form and context in which it appears.

The reported Mineral Resource as it relates to the Golden Gate satellite deposits was completed under the overall supervision and direction of Steven Hodgson, MAIG, of CSA Globalwho is a Competent Person as defined by the Australasian Code for the Reporting of Exploration Results, Mineral Resources or Ore Reserves (JORC Code 2004 Edition) and whoconsents to the inclusion in this report of the matters based on the information in the form and context in which it appears. The information in this report that relates to in-situ MineralResources based on information provided by Millennium Minerals Limited. The Mineral Resource estimate was compiled by Steven Hodgson, MAIG, of CSA Global. David Williams,MAusIMM, of CSA Global was responsible for the technical review of the Mineral Resource estimate.

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Key Project Targets

8 to 9 year mine life producing 50koz to 60koz pa8 to 9 yea e e p oduc g 50 o to 60 o pa1 M tpa CIL process plantHead Grade 1 8g/t – 2 0 g/t AuHead Grade 1.8g/t 2.0 g/t AuRecovery 87% – 90%Capex A$50M A$60MCapex A$50M – A$60MC1 Cash Cost US$480 – US$520P t i i NOT i dPre – stripping NOT requiredFirst gold pour Q4 2010 – Q1 2011

f S 2Define Stage 2 heap leach potential

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Peer Group Comparison

200

Market Cap divided by Resource OuncesA$/Oz

140

160

180

100

120

40

60

80

-

20

40

m ds us or 5 ro is ra a d ts oy st

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Project Strengths

BFS completed

Approvals and Permitting completed

Native Title completedNative Title completed

Hi h lit t tHigh quality management team

MOY undervalued (Cheap) relative to Peer Group

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Project Upside

Down dip extensions beneath the current defined Mineral ResourcesRemain untestedRemain untestedWarrant detailed follow up

H L h P t ti lHeap Leach Potential

Initial test work indicated up to 70% recoveryMineralised waste, below mill cut-off grade, free carried to surface ( circa 5Mt @ 0.7 g/t for 112koz’s )Low grade mineralisation identified SW of Golden Eagle along mineralised structures. T t f 5 t 20 Mt t t t d f 0 4 0 9 /t A ( 100k 400k )Target range of 5 to 20 Mt at a target grade of 0.4 – 0.9 g/t Au ( 100koz – 400koz ).Further heap leach test work warranted

Th i f i l i h “T ” d “ d ” h ld b i d dThe information relating to the terms “Target range” and “target grade” should not be misunderstood ormisconstrued as an estimate of Mineral Resources or Ore Reserves as defined by the JORC code (2004) andtherefore the terms have not been used in this context. It is uncertain whether further exploration or feasibility studywill result in the determination of a Mineral Resource or Ore Reserve.For

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Golden Eagle Long Section

GOLDEN EAGLE PLANE OF MAIN SHEAR ZONE

WestEast

GOLDEN EAGLE - PLANE OF MAIN SHEAR ZONE

1.5 km79200mE79800mE

400mRL

80400mE

300mRL

Drill Intercepts (g/t x metres)

10-20

MineralisationOpen

1-10

(g/t x metres)

A$550 Whittle Shell Outline Sept 2004

>20

Base of Pit

Golden Eagle – Mineralisation open with depth

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Golden Gate – Typical Cross Section ABCD Reef

25 m @ 9.03 g/t12 m @ 5 89 g/t

Cross Section – A B C D Reef

440 m

12 m @ 5.89 g/t

400 m A Reef12 m @ 9.48 g/t

Drill Intercepts

360 m

pAu Metal Factor (g/t x metres)

<1010-2020-5050 100360 m

50

B Reef

8 m @ 8.68 g/t50-100>100

50 m320 m

Quartz vein hosted, high grade lodes

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19 m @ 0.98 g/t

Low grade mineralisation potentially amenable to heap leachLow grade mineralisation potentially amenable to heap leach

Target range of 5Mt to 20Mt

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Next Steps for Millennium2009 2010

C fi t h i l t

Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul to Dec Q1 2011 2009 2010

Confirm technical parametersConclude financing

Ordering of Long Lead Items of Plant

Project Construction

Commence Mining

Commission Process First Gold

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Next Steps for Gold Assets

Identification and scoping studies of large lower grade disseminated gold deposits that may be amenable to heap leaching

All 5 deposits open at depth. Deeper drilling t dwarranted.

Scout drilling on delineated geochemical g ganomalies

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MILLENNIUMMILLENNIUMMILLENNIUMMILLENNIUMMINERALS LIMITED

Suite 7, 19 – 21 Outram StreetWest Perth WA 6005West Perth WA 6005P: +61 8 9486 8808

E: info@millenniumminerals.com.auW: www.millenniumminerals.com.au

Creating Shareholder Value

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