Investor Presentation May 2011

Revitalised, refocused, positioned for growth

Disclaimer

This presentation may contain forward-looking statements

that reflect Weatherly’s current expectations regarding future

events, its liquidity and results of operations and its future

working capital requirements and capital raising activities.

Forward-looking statements involve risks and uncertainties.

Actual events could differ materially from those projected

herein and depend on a number of factors, including the

success of the Company’s development strategies the abilitysuccess of the Company s development strategies, the ability

of the Company to obtain additional financing for its

operations and the market conditions affecting the availability

and terms of such financing.

1

Weatherly International (WTI)Weatherly is an international resources company focused on copper and bulk minerals in Africa.

Weatherly’s strategy in Burkina Faso is to assist its partner, Wadi, in perfecting its rights to the Tambao manganese project

Weatherly’s strategy in Namibia is to develop a

BURKINA FASO

Tambao(Mn)

y gy pcopper mining business capable of sustaining 20,000 tpa of copper at average industry cost of production for the next ten years

NAMIBIA

Otjihase (Cu)

Matchless (Cu)

Tschudi (Cu)

Tsumeb West (Cu)

Tsumeb Tailings (Cu)

Berg Aukas (Pb/ Zn) 2

Shareholder Information

Listed on London’s AIM(1) WTI

Common shares 537 millionWarrants & options 22 million

Market cap (undiluted) ~ £ 67 million(Fully diluted) ~ £ 70 million(Fully diluted) ~ £ 70 million

Key shareholders(2)Directors & associated companies(2) 12.2%

Blackrock 10.1%

Namibian interests(3) 8.6%30.9%

Note 1 – as at 1 March 2011

Note 2 – Webster ((5.1%), Martinick (3.6%), Ezenet (3.4%))

Note 3 – Bank Windhoek, GRN (6.3%), GIPF (2.3%)3

Corporate Information

Directors & Management – Weatherly International plc

John Bryant (Non-Executive Chairman)John Bryant (Non Executive Chairman)

Rod Webster (Chief Executive Officer)

Alan Stephens (Non-Executive Director)

Dr Wolf Martinick (Non-Executive Director)

Max Herbert (Company Secretary)

Kevin Ellis (Chief Financial Officer)

Dominic Claridge (Group Exec Project Development)g ( p j p )

Directors & Management – Weatherly Mining Namibia

Craig Thomas (MD & Chief Operating Officer)

Andrew Thomson (Technical Director & Country Manager)

Cleophas Mutjavikua (Non Executive Director)

Titus Haimbili (Non Executive Director)( )

Frans Ndoroma (Non Executive Director)

4

Financial Highlights

6m to 31 Dec 2010US$

Year to 30 Jun 2010

US$

Income Statement Maintaining and developing mines (3.2) (5.7)Depreciation (1.6) (5.0)Profit on disposal of property 1.1 19.8Operating profit/loss (3.7) 9.1

Balance Sheet Cash 15.0 7.0Net assets 32.1 26.1

Period highlights:

• Sale of Kombat received US$3.2m

• Placing £4.45m (US$7m) in November 2010

• US$7m Louis Dreyfus loan facility

5

Namibian Assets

Weatherly Mining Namibia’s (WMN) assets are:

• Two operating copper minesTwo operating copper mines• Four development projects (on granted ML’s)• One exploration project (licence subject to renewal)• Approx. US$140m in future tax deductions

NAMIBIA

Otjihase (Cu)

Matchless (Cu)

Tschudi (Cu)

Tsumeb West (Cu)

T b T ili (C )Tsumeb Tailings (Cu)

Berg Aukas (Pb/ Zn)

6

Central Operations

(Note 1)

Status LOM Reserves/Resource

Otjihase Operating 5 -20 yrs

3.2mt @ 1.6% Cu, 0.29g/t Au (JORC)11mt @ 1.9% Cu, 0.24g/t Au (JORC)

Matchless Operating 5 -20 Western shoot: 0.7mt @ 1.8% Cu (JORC)yrs Rivershoot: 1mt @ 2.5% (Historical-Samrec)

7

Otjihase Mine Area

Otjihase Mine – Plan View

POTENTIALNEW MINE

REMAINING RETREAT TO SURFACE5 YR PLAN35 500tNEW MINE

75,000t copper 29,426t copper35,500t copper

9

Otjihase and Matchless

Five Year Plan (Note 1)Resources 7.9mt 2.14% Cu 0.35g/t AuReserves 3.9mt 1.70% Cu 0.25g/t AuReserves 3.9mt 1.70% Cu

64,934t Cu0.25g/t Au31,350oz Au

Ann. productionFive year plan

7,100t (Cu in concentrate) 35,500t Cu 17,139oz Au

Cost of Production :

Ex Minegate N$410/t ore milled

Ex LME Cu (C1)US$3,258/t Cu

NPV (10%)US$5,500/t Cu US$35mUS$7,000/t Cu US$67m

Remaining Resources After Five Years:Remaining retreat to surface 29,426t Cu 14,211oz AuPotential new mine (Tigerschlucht) 75,000t Cu

Note 1 – Based on Coffey Technical Review and Valuation of Otjihase & Matchless mines, March 2010 10

Matchless Mine – Plan View

5 YR PLAN 1NEXT 7 YRS 1

West Shoot

S

MWE

River ShootEast Shoot

?

Western prospect Eastern prospect

N t 1 A i i t t 150 000 tNote 1 – Assumes mining rate at 150,000 tpa

11

Central Operations – Life of Mine Plan

YEARS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

Kuruma1

MWE1

Retreat to Surface2

River, W & E Shoot2 Development

Tigerschlucht2 FS & Development

Western Prospect2

Otijhase

Matchless

Note 1 – Current 5 year plan

12

y pNote 2 – Subject to conversion of resources to reserves

Northern Operations

Status LOM Resources

Tschudi FeasibilityExploration

10+ yrs 47.7mt @ 0.85% Cu, 10.6 g/t Ag (JORC)O/P to 180m – 25mt @ 0.9% Cu,11g/t Ag (JORC)

TsumebTailings

Feasibility 16mt @ 0.7% Cu (Historical)1

Tailings

TsumebWest

Exploration 1.0mt @ 2.1%Cu, 18g/t Ag (JORC)

13Note 1 – non compliant ‘historical’ resource, should not be relied upon

Tschudi Open Pit Development

Underground portal

28 oTest pits

Tschudi Open Pit

Resources to 180m depth (1) 25.0 mt 0.9% Cu 11g/t Ag

Potential diluted reserve (2) 21.7 mt 0.8% Cu 9g/t Ag

Feasibility awarded to Sedgman Engineering (Perth) to be completed in 2011. Based on Sedgmans preliminary work, (3)

- Met. results support a stand alone heap leach SX-EW operation at a rate of ~2 mtpa over a minelife of 10 years.

- Average copper recoveries expected to exceed 80% producing on average ~13,000t of copper cathode annually.

- Capital cost based on a 2 million tpa operation is estimated at ~US$49m

- Cost of production estimated as ~ US$4,000/t Cu

Note 1 – Source: Coffey Report based only on JORC compliant measured and indicated resourcesNote 2 – Source: Coffey Report, based on pit shell 26 to 189m depth fully diluted with a waste to ore ratio of 6.5:1Note 3 – Source Sedgman Engineering, Preliminary Evaluation, April 2011 15

Tschudi Open Pit

Key attractions:

• Known resource, drilled out to JORC compliance

• Grade risk and variations well understood from previous underground campaign (2008)

• Good leaching recoveries >82% (Sedgman testwork2011) consistent with previous Gold Fields(1) and Indec test work(2)

• Potentially low capital costs as a result of proximity to• Potentially low capital costs as a result of proximity to existing infrastructure.

• Environmental licence for open pit/heap leach granted i 2003 f th l i din 2003 – no further approvals required.

• High potential for increasing resource along strike

Note 1 – ‘Recovery of copper from Tschudi Ore Deposit’ – Goldfields Laboratories R Haegele 1995Note 2 – ‘Tschudi Copper Project’ - INDEC Contract BO3020 Santiago Chile July 2003 16

Exploration Tschudi SynclineTarget areas

for 2011

Tschudi ML 125

EPL132A

Soil Geochemistry (ppm Cu)

Red > 1,000Orange > 540 < 1000Green > 160 < 540Blue < 160 17

Tsumeb Tailings & Concentrator

18

Tsumeb Tailings

• Sampling from testwork has provided a wide range of metal values,

Copper ranges from a low of 0 46% (Goldfields) to- Copper ranges from a low of 0.46% (Goldfields) to a high of 0.83% (Mintek, 2008)

- Silver, lead and zinc values are also significant

• Historical resource (16mt at 0.7% Cu) can not be relied upon, and Weatherly commissioned Dump & Dune contractors to drill the dam.

• Drilling completed in April and Coffey Mining now compiling results. New JORC compliant resource expected to be announced early June as a prelude to a full feasibility study.full feasibility study.

19

Copper Development Plan

Assets Status (US$) 2011 2012 2013

Otjihase/ Matchless (1)

Production 7,100tpa CuOpex $3 258/t Cu ProductionOpex $3,258/t CuCapex $6.7m

Tschudi Open Pit (2)

Production 13,000tpa CuOpex ~$4,000/t Cu(3) BFS Construction

Production

ProductionCapex ~ $49m(3)

Tsumeb(4)

Tailings Project

16mt @ 0.7% Cu Capex and timing subject to feasibility

BFS ProductionConstructiony

Note 1 – Source: Coffey Technical Review and Valuation of Otjihase & Matchless mines, March 2010Note 2 – Source: Coffey Report, based on pit shell 26 to 189m depth fully diluted with a waste to ore ratio of 6.5:1Note 3 – Source: Sedgman Engineerying “Preliminary Evaluation“ April 2011Note 4 – non compliant ‘historical’ resource, can not be relied upon

20

Forecast Production

16000 1

Annualised tonnes of copper

10000

12000

14000

Otjihase/MatchlessTschudiTsumeb Tailings

1

2

3

6000

8000

10000

? ???

0

2000

4000

2011 2012 2013 2014 20152011 2012 2013 2014 2015

Note 1 - Revised production plan as at 31 December 2010 (WTI model)Note 2 - Indicative only and subject to feasibility and fundingNote 3 - Yet to be determined based on the outcome of the resource drilling and feasibility

21

Exploration

• Weatherly owns the regional database created by Gold Fields in the 1980’s and 90’s

• Weatherly has applied to renew exploration licence (EPL 132A 1) which extends west from Tsumeb toTschudi (20km)Tschudi (20km)

• Priority will be given to carry out the following:– review all Gold Fields data– extension drilling to the Tschudi syncline– deep diamond drilling at Tsumeb West

Note 1 – EPL 132A expired on 9/3/2008 – application for renewal submitted prior to expiry

22

Regional Copper Geochemical Soil Sampling Map

EPL132A

TSUMEB

TSUMEBWEST

TSCHUDI

WEST

Red > 1,000 ppm CuOrange > 540 < 1000 ppm CuGreen > 160 < 540 ppm CuBlue < 160 ppm Cu

Exploration Tsumeb West

Tsumeb West Tsumeb

Tsumeb West:Potential at depth in sulphides

Tsumeb: Mined to 1700m

below surface

Similar orebody morphology & mineralogy to TsumebTsumeb

24

Berg Aukas

• Berg Aukas is a dormant zinc/lead mine containing 1.7mt of 22% Zn/Pb and 0.6% V oxide (historical)

• The intention is to divest Berg Aukas into a new AIM-listed company called China Africa Resources (CAR)

• East China Mineral Exploration & DevelopmentEast China Mineral Exploration & Development Bureau (ECE) will own [65]%, Weatherly 25% and Weatherly shareholders [10]%. ECE will pay £4.8m for its share

25

Berg Aukas

A

B

A B

In conclusion

• Total copper resources of 623,645 tonnes (JORC) and a further 276,634 tonnes (Historical)

• Otjihase/Matchless production steadily increasing in line with forecast

• Rapid transition to Tschudi open pit developmentRapid transition to Tschudi open pit development will create further value for shareholders

• Opportunity for near term, low cost retreatment of T b t iliTsumeb tailings

• Strategic alliance with large Chinese group – East China Mineral Exploration and Development Bureau p p(ECE)

• Potential involvement in Tambao manganese in Burkina FasoBurkina Faso

27