Proactive Investors, Melbourne16 March 2011

Andrew Woskett, Managing Director

Minotaur Exploration LimitedACN: 108 483 601

ASX: MEP

1. usual Disclaimer2. About Minotaur today; facts & figures3. Overview of Minotaur’s exploration & development priorities through 20114. Project Case Studies:

① Australia’s next big iron province – the Braemar Iron Formation, which includes;Minotaur’s Mutooroo Magnetite project

② The Maitland Iron oxide-copper gold & Rare Earths exploration target5. Q & A

Today’s Agenda:

Cautionary Statements:

About Minotaur

ASX ticker: MEPEquity: 92.7 million shares on issueTop 5 hold 23.7%: OzMinerals (8.7%), Newmont (5.7%)

52 week price range: 16.5c – 38cLast Price: 22c (@ close on 15 March)

Market Capitalisation:$20.5 million (@ close on 15 March)

Less Cash (as @ 31 Dec):$5.2 millionLess Listed Investments: $7.3 millionthus Enterprise Value: $8 million (@ close on 15 March)

Exploration assets: $0.08 per share

Minotaur’s priorities through 2011:

Minerals exploration: Magnetite Fe (SA) Iron oxide – copper gold IOCG (SA, Qld,

Canada) Base Metals Cu, Pb, Zn (SA, NSW) Gold Au (SA, Vic)

Project Development - towards commercialisation: Kaolin China Clay (SA)

2 case studies of activities in 2011:

Minerals exploration:① Magnetite Fe (SA)

② Iron oxide – copper gold IOCG (SA)

① Magnetite (iron) deposit, SA

Braemar Ironstones, SA: The next big (Fe) thing

a significant regional sequence of highly magnetised sediments

The Braemar Iron Formation is emerging to potentially be Australia’s next big iron ore province

100km SW of Broken HillHeavy duty rail link 300km to

Port Pirie several ASX listed explorers are

active along the Braemar Fe formation

Regional potential for up to 20,000 million tonnes of in-situ Fe mineralised siltstone, circa 20-25% Fe

Could anticipate ~10 billion tonnes of mineable magnetite ore to be defined

Potential for annualised output of 25Mtpa of blast furnace quality magnetite concentrates grading around 65% - 70% Fe

Braemar Ironstones: the vision

Exploration success being reported by all active explorers along the Braemar Iron formation

multiple zones, each potentially hosting hundreds of millions of tonnes of magnetite rich siltstones

Regional potential for ~10bt ore, with a foreseeable 100 year life of mining @ nominal 100Mtpa mining rate, producing 25Mtpa of concentrate, comprising:

4-5 processing operations for 5-10Mtpa concentrate each, at ~$2b Capex each, or

one 25Mtpa Super Plant and assoc infrastructure at ~$6b, saving ~$5b overall, with scale to include a Pellet Plant (producing a value added product)

equivalent to CITIC’s $5.5b for 28Mtpa huge magnetite project at Cape Preston, WA (see photos)

6 fully autogenous grinding mills @ 28MW each

450MW Power station, combined cycle, gas fired(photos sourced from www.citicpacificmining.com/resources/news)

The term "Exploration Target" should not be misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004), and the term has not been used in that context. It is uncertain if further

exploration will result in the determination of a Mineral Resource. Refer Cl 18 of the JORC Code (2004).

Minotaur’s Mutooroo Fe project

2011 Work Plan:40km strike extents of highly magnetised sedimentary beds identified from helimag data

9 RC & diamond holes drilled to 200m vertical depth

thick magnetite beds intersected at surface or under thin cover

consistently high quality (~69%) magnetite concentrates made from composited drill chips (holes MUT01 & 02 to date)

Davis Tube Recovery Concentrate (DTRC) quality testing underway for holes MUT08-17

Will lead to an estimate of potential size of the Exploration Target; aiming for ~1b tonnes at Muster Dam

Mutooroo Fe project

www.minotaurexploration.com.au

Muster Dam deposit Magnetic intensity

indicates strike extent of 7km, width > 500m

Drill intersections define mineralised beds over package width of >700m

Beds outcrop and sub-crop low strip ratios

DTRC tests underway for holes MUT08-17

Metallurgical results due in April

Estimate of Exploration Target due in April

JV to consider $5M phase of work for remainder of 2011

The Mutooroo Fe project is a

contributing joint venture between Sumitomo Metals Mining Oceania

Pty Ltd (50.1%) & MEP (40.9%)

Mutooroo Fe project

Mutooroo Fe project

Cross Section – Muster Damapprox width of mineralised package 700m

Mutooroo Fe

08RCMUT-02 08RCMUT-01Magnetite Pellet Fines - Quality Criteria

SpeciesBF Pellet

fines grade(target %)

MUT01/02DTRC % Comment Result

Fe >60.0 69.3pure magnetite is 72.4% Fe (maximum grade achievable)

✔

FeO >25 ~26.4 calculated by differences ✔

SiO2 <5.5 3.57SiO2<5% preferred for Blast Furnace (‘BF’) feed.For DRI grade Si+Al <2% (preferred) and certainly <3%

✔

Al2O3 1.0-1.5 0.36 low Al2O3 can be considered ‘preferred’ by BF ✔

CaO <3.0 0.10 moderate CaO can offset flux addition in BF ✔

MgO <3.0 0.05 moderate MgO can offset flux addition in BF ✔

TiO2 <0.75 0.06 Concentrate is unsaleable if TiO2 > 1% ✔

Mn <0.050 0.02 Mn increases coke rate in BF ✔

P <0.030 0.01P<0.08% preferred as P reports to pig iron smelt

✔

S <0.010 <0.01S contributes to acid rain (SO2) gases in BF exhaust

✔Mutooroo DTRC grade, for holes MUT01&02, ticks all the boxes

DTRC: Davis Tube Recovery ConcentrateBF: Blast Furnace; a steel making furnace Metallurgical results for holes MUT08-MUT17 not yet

available; expected to be released in April 2011

② A new IOCG target on SA Yorke Peninsula

08RCMUT-02 08RCMUT-01

Maitland IOCG & REE Target

08RCMUT-02 08RCMUT-01

Located 15km south of the Moonta copper township on South Australia’s Yorke Peninsula. Moonta-Wallaroo were the World’s richest copper mines, operating 1861-1923

Within the world class Gawler Craton (host to OD, Prominent Hill, Carrapateena, Hillside, Wirrda Well, Challenger, Tunkillia)

Extensive exploration conducted by MIM, CRAE, BHP & WMC/NBH since 1962 had detected anomalous Ce and Co

Minotaur earning 51% in Joint Venture with Red Metal Ltd (100%), targeting Cu-Ni-Co-REE mineralisation

VTEM aerial magnetic survey to start this month for 500 line km, enabling basement interpretation from geophysical data

EL 3413

Maitland IOCG Target

08RCMUT-02 08RCMUT-01

Maitland IOCG Target

08RCMUT-02 08RCMUT-01

Core review of mineralised zones from three best drill holes (operator CRAE)

DD85WE1 – Tea Tree 17.4m @ 0.35% Cu, 0.1% Ni, 0.14% Ce & 0.07% La

DD86WE3 – Hillview Altered brecciated meta-volcanic zone at 156m, 1m @ 0.18% Cu & 90ppm U

DD86WE6 – Tea Tree 2.6m @ 0.77% Cu, 0.35% Ni, 0.12% Co & 1.2% Ce

DD85WE1

Upper mineralised zone (72.7-89.2m) – intensely altered carbonate rock interbedded (protolith) with biotite-rich metasediment (tightly folded) . Pyrite and chlorite (after biotite) replacing earlier red rock altered (hematite-dusted albite?) fine-grained meta-sediments. K-feldspar alteration replaced by fine-grained magnetite (discontinuous stringers & disseminations).

Pyrite/biotite (chlorite)/magnetite replacement concentrated in more permeable zones of biotite-rich metasediment – biotite developed along alteration selvedge

Maitland IOCG Target

08RCMUT-02 08RCMUT-01VTEMLow level (50m) helicopter borne electro-magnetic array; a cost and time effective regional target data acquisition method

Ask me Questions

Minotaur Exploration LimitedACN: 108 483 601

ASX: MEPwww.minotaurexploration.com.au