Themac and Copper Flat

1

• Value Proposition

• Conclusion

2

THEMAC Resources Group Limited

Founder of The MAC Services

Group, Australia’s largest listed

provider of remote area mining

accommodation and services.

Former Managing Director of

Elders Resources Finance

Geologist, former President

and COO of US Gold. More

than 30yrs of mineral

development experience

worldwide. President of

Remote Energy Solutions

Geologist, Managing Director

of ECR Minerals. In excess of

30yrs of mining industry

experience in Asia, Australia,

Africa and North America

Mining engineer with diverse

experience in most minerals

including open pit &

underground mine production

3

Corporate lawyer with over

30yrs of experience. Former

General Counsel and Company

Secretary of The MAC Services

Group


Equity consultant, more than

40yrs of experience as an

institutional and high net

worth adviser, specializing in

raising capital for mining

companies

TSXV code: MAC.H

Share price (current): C$0.75

Shares on issue: 73,858,372

Fully diluted: 130,293,928

Market capitalization: C$55 million

Cash: C$10 million

Debt: nil

Major Shareholders

Marley Holdings/Tulla Resources1 - 73% (72% fully diluted)

ECR Minerals2 - 20% (22% fully diluted)


Warrants

20,082,556 warrants at C$0.28

(14,500,000 held by ECR Minerals2)

40,000,000 warrants at C$0.34

(all held by Tulla Resources1)

1 Controlled by Kevin Maloney (director) 2 Vendor of Copper Flat option

As on completion of Copper Flat option acquisition, anticipated February 2011

5 THEMAC Resources Group Limited

Copper Flat Project, New Mexico, USA

Status: Preliminary economic assessment

(PEA) complete, prefeasibility study (PFS) and

permitting underway

Planned production: 36 million lb copper per annum

Mine life: 17 years

Cash costs: US$1.41/lb copper equivalent

First production: 2014

Resources: 107Mst Indicated

0.303% Cu, 0.01% Mo

46Mst Inferred

0.24% Cu, 0.006% Mo

Civil infrastructure in place: Tailings dam, largely pre-stripped

open pit, power lines, water well field

and pipeline, access roads, diversion

channels and building foundations

• Approximately 150 miles

south of Albuquerque and

27 miles southwest of

Truth or Consequences

• Land position in excess

of 3,000 acres


7 THEMAC Resources Group Limited – Copper Flat Project, New Mexico, USA

Copper Flat mine brought into production in 1982 but shut down after three

months of operations due to fall in copper prices to below US$0.70/lb

NI43-101 preliminary economic assessment (PEA) completed by SRK

Consulting and filed on SEDAR in June, 2010

Exploration and resource development upside




C$45M

US$144M

THEMAC

Resources

enterprise value

Copper Flat

NPV (6%)

Notes:

1. Enterprise value based on C$10M cash, share price C$0.75 (see slide 4)

2. Copper Flat NPV (6%) as per PEA (see appendices)

11

o Conversion of NI43-101 Inferred

Mineral Resources to Indicated

o Expansion of resource inventory

through step-out and depth

extension drilling, including

potential to define additional

high grade breccia resources

near-surface and at depth

o Providing in-fill geotechnical

data


A A’



Producing Development Exploration

Phu Kham Roseby Copper Flat Hillside Los Calatos

Ownership (%)(1) 90% 100% 100% 100% 100%

Resource size (Mt)(2) 227.0 132.5 153.0 170.0 527.6

Cu grade (%) 0.59 0.68 0.28 0.70 0.47

Cu production (kt) (3)

66.0 40.0 16.0 60.0 n/a

Other metal grades

0.22g/t Au 1.9g/t Ag

0.06g/t Au 0.008% Mo 0.2g/t Au 0.034% Mo

Location Laos Queensland,

Australia New Mexico,

USA South Australia,

Australia Southern Peru

Sources: Company filings (1) Data on a 100% basis (2) Reported at 0.12% cut-off for Copper Flat, 0.30% for Roseby and Los Calatos, 0.25% for Phu Kam and 0.20% for Hillside (3) Last twelve months’ production for Phu Kham, target first year production for Roseby (2012), Hillside (2012) and Copper Flat (2014)

Historic Mineral Reserve (50.2 million st)

Cu Au Ag Mo

Grade 0.45% 0.124 g/st 2.05 g/st 0.015%

Contained 447.9 million lbs 223,900oz 3,300,000oz 14.8 million lbs

Reported at a cut-off grade of 0.23% Cu. This historic reserve estimate does not comply with Canadian Institute of Mining,

Metallurgy and Petroleum (CIM) terminology under NI43-101 guidelines. A qualified person has not done sufficient work to

classify this estimate as a current Mineral Resource. This estimate is not being treated as a current Mineral Resource and

should not be relied upon.

14

SRK Consulting (US), Inc. NI43-101 Mineral Resource Estimate,

May 6, 2010

Classification Million st Cu (%) Cu (million lbs) Mo (%) Mo (million lbs)

Indicated 107 0.303 645 0.010 21.4

Inferred 46 0.240 222

0.006 5.6

Reported at a cut-off grade of 0.12% Cu contained within a potentially economic open pit. Mineral Resources are not

Mineral Reserves and do not have demonstrated economic viability. The cut-off grades are based on US$3.50/lb of copper

and a metallurgical recovery of 90.9% for copper. Economic assumptions used for reporting molybdenum were a price of

US$10.00/lb and a metallurgical recovery of 54.3%. Gold and silver were not used in the pit limits optimization for reporting

resources.


Incorporation of gold and silver into resource/reserve models following precious

metals re-assay program using historic drill sample pulps

- Capital costs

- By-product recoveries

- Mine scheduling

Expansion of resources through step-out and depth extension drilling



2010 2011 2012 2013 2014 2015

PEA

Permitting

PFS

DFS

Financing

Construction

Production

Resource &

Exploration

Drilling


• Big players include Freeport

McMoRan and BHP Billiton

• Mining skills and services

available


- Mine life 17yrs and payback 1.75yrs from start of production;

optimization of mine scheduling may shorten payback period

- Average production of 36 million lbs copper and 628,000 lbs molybdenum

per annum over first 14yrs of operations

- Life-of-mine costs for mining and milling around US$40 million per annum

- Gold and silver to be incorporated into financial model as soon as possible


Estimated Contained Metal Value (US$) Adjusted For PEA (Cu 90.9%, Mo 54.3%) and Historic (Au 50%, Ag 90%) Recoveries

$77,436,000 $125,513,942 $390,842,427

$651,425,760

$1,674,685,919

$2,232,914,559

$0

$500,000,000

$1,000,000,000

$1,500,000,000

$2,000,000,000

$2,500,000,000

$3,000,000,000

A - Historic Reserves andMetal Prices At Time of

Original Mine Financing;$1.60 Cu, $2.50/lb Mo,

$300/oz Au and $8/oz Ag

B - PEA Mine Production(Cu+Mo only); Cu $3/lb

and Mo $12/lb

C - PEA Mine ProductionWith $4/lb Cu and $15/lb

Mo Plus Historic Au+AgReserves (Conversion to

NI43-101 Resources

Assumed); Au $1400/ozand Ag $26/oz

Copper Value

By-Product Value

21

Note:

Prepared by THEMAC Resources under the supervision of Barrett Sleeman, P. Eng, a qualified person under NI43-101 and Chief Executive Officer of the

THEMAC Resources. Figures are for illustration purposes only, are not a complete economic analysis and should not be relied upon. Conversion of historic

Au+Ag reserves to NI43-101 Mineral Resources is dependent on the results of further work as detailed elsewhere in this presentation and in the PEA. Readers

are cautioned that there is no assurance that any of the historic reserve will be converted to an NI43-101 compliant Mineral Resource


22

NPV 6%

-25% -20% -15% -10% -5% Base 5% 10% 15% 20% 25%

Revenues -19,000 14,000 47,000 80,000 112,000 144,000 177,000 209,000 242,000 274,000 306,000

Capital

Costs 186,000 178,000 169,000 161,000 153,000 144,000 136,000 128,000 120,000 111,000 103,000

Operating

Costs 216,000 202,000 187,000 173,000 159,000 144,000 130,000 116,000 102,000 87,000 73,000

NPV 8%

-25% -20% -15% -10% -5% Base 5% 10% 15% 20% 25%

Revenues -30,000 -3,000 24,000 51,000 78,000 105,000 131,000 158,000 185,000 211,000 238,000

Capital

Costs 143,000 135,000 128,000 120,000 112,000 105,000 97,000 89,000 82,000 74,000 66,000

Operating

Costs 163,000 151,000 140,000 128,000 116,000 105,000 93,000 81,000 70,000 58,000 46,000

Note:

Prepared by THEMAC Resources under the supervision of Barrett Sleeman, P. Eng, a qualified person under NI43-101 and Chief Executive Officer of the

THEMAC Resources, based on PEA economic model. Figures in US$


• State and federal regulators are supportive

of mine restart

• Five major permits/approvals needed are:

-


• Porphyry mineralization is

contained within Copper Flat

stock and core breccia pipe

• Higher grade material is

contained within breccia

pipe (1,300ft x 600ft and

over 1,000ft in depth), which

is open to the south and

west

24

A A’



• A water well field with 4 wells capped when

the mine was shut down in 1982 is located 8

miles distant (water rights to be acquired)

• A state and federally approved diversion

channel exists around the mine site



• Conventional mining fleet scenario proposed,

although in-pit crushing is under consideration

• Proven processing route and readily marketable

concentrate; 1982 production of 7.4 million lbs Cu,

2,306oz Au and 55,966oz Ag from 1.48 million st of

ore demonstrated +90% Cu recovery

28



• Gold (223,900oz) and silver (3.3 million oz) is included in

historic reserve estimates

• Potential to expand future gold and silver resource

beyond level of historic reserve estimates on basis of

lower copper cut-off grade and results of proposed step-

out drilling

30


• This presentation may contain “forward-looking” statements within the meaning of Canadian securities legislation and the United States Private Securities Litigation Reform

Act of 1995. Forward-looking statements relate to future events or the anticipated performance of the THEMAC Resources Group Limited (“the Company” or “THEMAC

Resources”) and reflect management’s expectations or beliefs regarding such future events and anticipated performance. In certain cases, forward-looking statements can

be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, ”estimates”, ”forecasts”, ”intends”, ”anticipates” or “believes”, or

variations of such words and phrases or statements that certain actions, events or results “may”, ”could”, “would”, ”might”, or “will be taken”, “occur” or “be achieved”, or

the negative of these words or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors

which may cause the actual performance of the Company to be materially different from any anticipated performance expressed or implied by the forward-looking

statements. Such factors include various risks related to the Company’s operations, including, without limitation, fluctuations in spot and forward markets for copper and

other metals, fluctuations in currency markets, changes in national and local governments in the United States and the speculative nature of mineral exploration and

development (including risks related to the results of the proposed re-assay of historic drill sample pulps), risks associated with obtaining necessary operating and

environmental permits, the presence of laws and changes in regulations that may impose restrictions on mining, limitations in respect of management time and resources,

lack of personnel and equipment necessary to carry out the Company’s proposed business plan, and other delays (including in obtaining financing) which could result in

the Company missing expected timelines. A complete list of risk factors will be described in the Company’s Filing Statement to be prepared and filed with the TSX Venture

Exchange in connection with the acquisition of the Copper Flat project and will be detailed from time to time in the Company’s interim and annual financial statements and

management’s discussion and analysis of those statements, all of which are, or will be available, for review on SEDAR at www.sedar.com. Although the Company has

attempted to identify important factors that could cause actual performance to differ materially from that described in forward-looking statements, there may be other factors

that cause its performance not to be as anticipated. The company neither intends nor assumes any obligation to update these forward-looking statements or information to

reflect changes in assumptions or circumstances other than as required by applicable law. There can be no assurance that forward-looking statements will prove to be

accurate, as actual results and future events could differ materially from those currently anticipated. Accordingly, readers should not place undue reliance on forward-

looking statements.

• This presentation refers to Indicated Mineral Resources and Inferred Mineral Resources. The Company advises readers that although these terms are recognized and

required by Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI43-101”)), the United States Securities and Exchange

Commission does not recognize them. Readers are cautioned not to assume that any part or all of the Mineral Resources in these categories will ever be converted into

Mineral Reserves. In addition, Inferred Mineral Resources have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed

that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category, or that historic reserves will ever be converted to NI43-101 Mineral Resources

through re-assaying and additional work programs. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility

studies, or economic studies, except for a preliminary assessment as defined under NI43-101. Investors are cautioned not to assume that part or all of an Inferred Mineral

Resource exists, or is economically or legally mineable.

• The technical information in this presentation has been based in part on the results of the preliminary economic assessment of the Copper Flat project described in a

technical report entitled "NI43-101 Preliminary Assessment THEMAC Resources Group Limited Copper Flat Project Sierra County, New Mexico” dated June 30, 2010,

prepared for THEMAC by SRK Consulting (the “PEA”), which is available on SEDAR at www.sedar.com. Technical information herein which is not included in the technical

report has been prepared under the supervision of Barrett Sleeman, P. Eng, a qualified person under National Instrument 43-101, who is also the Chief Executive Officer of

the THEMAC Resources.

• The individuals who have provided their input to the PEA have extensive experience in the mining industry and are members in good standing of appropriate professional

institutions. Mark Pfau, Exploration Consultant for New Mexico Copper Corporation (now renamed Copper Flat Corporation), is the qualified person (“QP”) for the geological

data; Jeff Volk, Principal Resource Geologist (SRK), is the QP for the resource estimation; Bret Swanson, Senior Mining Engineer (SRK), is the QP for the open pit mining;

Deepak Malhotra, Process Engineering Consultant (RDi), is the QP for the mineral processing; and Peter Clarke, Principal Mining Engineer (SRK), is the QP for all other

areas and the overall preparation of the report.

• The Mineral Resources in the PEA are reported in accordance with Canadian Securities Administrators (CSA) National Instrument 43-101 and have been estimated in

conformity with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum (CIM) “Estimation of Mineral Resource and Mineral Reserves Best Practices”

guidelines. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources

will be converted into Mineral Reserves. The resource estimate was completed by Jeffrey Volk, CPG, FAusIMM, an independent Qualified Person, as this term is defined in

NI43-101. The effective date of the resource estimate is May 6, 2010 and it is based on data received by SRK in March 2010.

• Unless otherwise indicated, all dollar values herein are in Canadian dollars.


http://www.sedar.com/





Themac and Copper Flat

Documents

usa copper flat

inferred mineral resources

copper equivalent

copper prices

vendor of copper flat

yrs of experience

geotechnical data themac

diverse experience