Unity Mining Limited 1

Presentation TitleDate

Henty Gold Mine Analysts & Investors site tour18 January 2012

Matt Daly General Manager, Henty Gold MineAngela LorriganGeneral Manager, Exploration

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Corporate

• ASX: UML

• Share price: $0.10, 12mth High/Low : $0.20/$0.08

• 512.7M ordinary shares

• Mkt Cap: A$51 million

• Cash: A$44.1 million (31 Dec 2011)

• No debt, no hedging

• Substantial shareholders

• Orbis Funds 11.7%

• State Teachers Ohio 7.2%For

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Board of Directors

Peter McCarthy - Non-Executive ChairmanMr McCarthy has 40 years experience in the mining industry. He is the chairman of AMC Consultants, a prominent mining consultancy group in Australia, and a Non-Executive Director of Castlemaine Goldfields Limited. He was President of the AusIMM in 2007 and 2008. His principal expertise is in underground mining and project evaluation.

Andrew McIlwain - Managing Director and CEOMr McIlwain has over 25 years experience in the mining industry. He is a qualified mining engineer and has held operational, technical, senior management and executive roles within Mount Isa Mines Limited, Central Norseman Gold Corporation, WMC Resources and Lafayette Mining Limited. More recently, as an independent consultant, he has worked with Oxiana, Heemskirk and Tusker Gold focussing on corporate transactions.

Ronnie Beevor - Non–Executive DirectorMr Beevor is an investment banker and was Head of Investment Banking at N M Rothschild & Sons (Australia) Limited between 1997 and 2002. He has had extensive involvement with the natural resources industry, both in Australia and overseas.

David Ransom - Non-Executive DirectorMr Ransom is a resource analyst and principal of Acorn Capital Limited, a Melbourne-based microcap investment manager. He is a geologist with a BSc from Sydney University and a PhD from the Australian National University, and has over 35 years experience in the minerals industry.

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• Henty Gold Mine (Tasmania)– 40-50,000 oz/y producer (FY12 guidance)

– Mineral Resources: 252 koz

– Large tenement position along Henty Fault

• GoldStone Resources (AIM: GRL), 34% equity interest– Mineral Resources: 406 koz

– Exploration programs underway in Ghana and Senegal

• Bendigo Goldfield (Victoria)– 600 kt/y plant and infrastructure

– Drummond Gold farm-in on surrounding EL

• Cash $44M (31 Dec 2011)

Key assets

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• Located in mineral-rich Mt Read Volcanic

Belt on the West Coast of Tasmania

• 1996 Goldfields commences production

• 2000s - 5 different owners in 10 years

– Goldfields, AurionGold, Placer Dome, Barrick and now Unity

Henty overview

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• Located in mineral-rich Mt Read Volcanic

Belt on the West Coast of Tasmania

• 1996 Goldfields commences production

• 2000s - 5 different owners in 10 years

– Goldfields, AurionGold, Placer Dome, Barrick and now Unity

• Growing ground position

– Now hold ~160 km2 (~30 km2 in July ’09)

– Firetower farm-in adds further 264 km2

Henty overview

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Henty overview

300,000 t/y conventional gold plant

Shaft and decline accessConventional mining & equipment

Resources 252 koz (30 Jun 2011)Reserves 107 koz (30 Jun 2011)

50,000 oz/y production rate

106 employees + 60 contractorsFor

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Safety Before Gold

– Safe Methods

– Safe Equipment

– Safety Training

– Safety Behavior

– Fit for work and home

Henty overview - Mine safety

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• Henty has to be an environmentally friendly site• Water management is critical

– Tailings dam wall lift recently completed

Henty overview - Environment

From this…… …….to this – into the Henty RiverFor

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• 166 site personnel

– 106 full-time employees(98 men, 8 women)

– 60 Setori contractors(60 men)

– Average length of tenure 8 yrs

• Rosters: 5/2, 5/5, 4/4, 6/8

• Residential drive in/out

– 30 min commute from Queenstown; others in Tullah, Rosebery, Zeehan, Strahan and elsewhere within Tasmania

Henty overview - People

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• Operations >500-800m deep

– little ground water, good geotechnical conditions

• Mechanised underground mine with decline access

– internal hoisting shaft

• Various mining methods utilised –cut and fill, benching, open stoping

– to suit varying ore body size

Henty overview - Operations

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Henty overview - Operations

Installing ground support Remote loading

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• $3.8M upgrade to underground mining fleet in 2010

• Low hour equipment transferred from Kangaroo Flat Mine in 2011

• Current fleet:– 1 x R1700, 2 x R1600, & 2 x R1300 Caterpillar LHDs

– 1 x Simba Atlas Copco production drill

– 2 x twin boom Atlas Copco jumbos (H282 & M2D)

– 3 x H104 Atlas Copco single boom jumbos (incl. 1 long hole production rig)

– 2 x AD30 Caterpillar ejector trucks

– 1 x MT436B Atlas Copco truck

– 1 x Normet charge car

Fully equipped for the future

Henty overview - Equipment

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• Mobile crusher

• Single stage SAG mill

• Carbon-in-leach (CIL) circuit

– INCO cyanide destruction

• Knelson concentrator and intensive leach reactor (ILR)

• High-density paste fill plant

• Typical gold recovery 93%

Henty overview - Processing

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• Strong relationships for many years

– Support local groups (monetary and in-kind), covering West and North-West Coast Tasmania

– Increased presence in local and state schools - understanding the mining industry and employment opportunities

– High school scholarship program

– Host regular site visits from community groups, schools, government departments and media

Henty overview - Community relations

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• After 15 years Henty has:

– Produced 1.2 Moz at c.12 g/t gold

– A sound track record in safety and environmental management

– An experienced workforce

– Good infrastructure – well maintained

– Excellent exploration potential

Henty overview - Summary

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Henty long section

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• Discovery of Newton Zone

– Newton a major contributor to doubling of resources, and remains open at depth

• Mine life around 4 years, and growing

• Investment in new mining fleet & transfer of equip from KFM

• Tenement position expanded

– Underexplored & highly prospective

• Exploration a key focus

– Talented team & significant budget

Henty today

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Henty operational performance

• Dec Qtr production of 17,569 oz at $757/oz

– Includes royalties of $177/oz

– Best production result under UML ownership

– FYTD production of 28,009 oz

• Mine plan for the next six months is scheduling less ambitious production results

• Expect to deliver toward top end of 40-50,000 oz guidance range for FY12

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Henty Life of Mine grade

• Exploration aimed at increasing grade towards LOM

average of around 12 g/t gold

– At reserve grade of 6 g/t, production is c.50,000 oz p.a.

– At LOM average grade, production is c.100,000 oz p.a.

05

1015202530

G/

t

LOM average grade

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Tasmanian exploration pipeline

Zone 96 Aurora

Moxon Read Zone Henty Down-Dip

PlatterRead Zone & Henty South

Red Hills Farrell Ten Mile Creek Moxon

Expanding current resourcesof 318,000 oz.

Drill Target

Target Definition

NewtonLakeside

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2012 exploration program

• 3-4 rigs, spending $6-10M/year

• Newton Zone – 120 koz resource open at depth

• Red Hills– New gold zone defined

• Aurora – 1.5 km anomaly north of Henty

• Moxon

– Testing 3 new target zones

• Henty South – Discovery of new alteration zoneFor

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Newton Zone – continuing to grow at depth

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• Large tenement package

– Multiple targets

• 35km of strike coverage

• Economic gold intercepts at Lakeside

– 4.7 m at 5.9 g/t gold

– 3.0 m at 3.0 g/t gold

– Initial resource estimate of 66 kozbased on historic drilling

• Historic lead/zinc mine at Farrell

Henty regional targets

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• Henty is a growing gold producer

– FY11 Production of 35,728 oz/y at $1105/oz incl. royalty

– Dec Qtr production of 17,569 oz at $757/oz

– Future production rate set to increase as ore is sourced from higher-grade, lower royalties zones such as Newton, reducing cost/oz

– Development capex well advanced to support 4 year mine life

• Transformational growth potential

– Exploration spend of $6-10M per year

– Multiple targets to test on highly prospective tenements

Conclusion

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Thank you

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