Corporate Presentation November 2013

www.altonamining.com
altonamining.com
ACN 090 468 018

ASX: AOH FSE: A2O November 2013

Disclaimer and JORC Compliance

What You Should Know

Find out more - This presentation is being used as a presenters aid with summarised information. See Altonas other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or www.altonamining.com, for more information. Third party information - Altona does not make any representations as to the accuracy or otherwise of third party information, including where projections are given. Forward-looking statements - Within this presentation there may be certain forward-looking statements, opinions and estimates. These are based on assumptions and contingencies which are subject to change without notice and are not guarantees of future performance. Altona assumes no obligation to update such information. Taking action - Please undertake your own evaluation of the information in this presentation and contact your professional advisers if you wish to buy or sell Altona shares.

Competent Person Statement The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Alistair Cowden BSc (Hons), PhD, MAusIMM, MAIG who is a full time employee of the Company and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Cowden has consented to the inclusion in the report of the matters based on his information in the form and context in which it appears. Copper Equivalence Copper equivalence refers to production only where total revenues are expressed as copper revenues, ie. Revenue copper price. It does not refer to Resources, Reserves or drill results.

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November 2013

2.

We Believe in Copper
A sustained step change in copper markets in 2005 Post 2005 price averages: US$7,265 (US$3.30/lb)
$7,540 $7,126 $6,731 $6,952 $8,811 $7,958 $7,670 Today

$5,164

$3,684 $2,868 $1,780

$1,577

$1,558

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013 YTD

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Growing Copper Production and Optionality

Outokumpu Project Roseby Project

Underground copper-gold mine in Finland altonamining.com

November 2013

Development ready, 40ktpa copper

4.

Altona Overview and Objectives

A profitable 9,000ktpa copper producer at Outokumpu in Finland with by-product gold, silver and zinc (12-13,000t copper equivalent) Considering production expansion at Outokumpu dependent on further reserve/resource growth from deep drill program Completed Definitive Feasibility Study for the Little Eva copper project near Mt Isa, Queensland has NPV of US$250 million Little Eva could produce 39,000tpa copper and 17,000oz of gold per year over a mine life in excess of 10 years at a C1 cash cost of US $1.73/lb Pursuing a range of transactions to realise value / develop Roseby, with the overriding objective being to maximise value for its shareholders

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Corporate Snapshot
Major Shareholders Australian institutions: Foreign institutions: Board: German/Swiss retail: Top 20: 32.0% 20.0% 8.7% 7.0% 57.0% Share price (12-11-2013): Average daily turnover: Shares on issue: Market capitalisation: Debt: Cash (01-09-2013): Research coverage:
Source: ASX

Market Status ASX (Australia) code: FSE (Frankfurt) code: AOH A2O A$0.15 0.5M shares 532M A$80M US$21M A$26M Credit Suisse

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Outokumpu Copper Project in Finland

I metre

Massive copper sulphide ore in development face altonamining.com

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Finland is a Leading Mining Destination

Euro zone country with a history of mining and mining equipment manufacturing, a stable tax regime (20.0%) and no royalties. Major miners include Agnico Eagle, Anglo American and First Quantum.

Altonas projects are in eastern Finland. Geology is similar to other Archaean and Proterozoic terrains in Australia and Canada.
8.

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Mill, Mine and 5 Deposits in Historic Outokumpu

Past or present mine Resource Prospect

Keretti mine produced 1Mt copper and 1 Moz gold from 1914 to 1989

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Kylylahti Underground Mine

All infrastructure in place altonamining.com

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Kylylahti Mine Key Facts

Status
Luikonlahti Mill Interior

600,000tpa, expansion under consideration 5.5m x 5.5m decline tunnel, longhole open stopes with cemented waste fill Copper: Gold: Zinc: Copper equiv: 8,000tpa 8,400ozpa 1,600tpa 12,000tpa

Mine

Life of mine average production

Mining cost Mine life Reserves

32/tonne including trucking 7.6 years 4.2Mt at 1.6% Cu, 0.7g/t Au, 0.6% Zn 7.7Mt at 1.3% Cu, 0.7g/t Au, 0.5% Zn
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Resources
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Kylylahti Mine Open at Depth

Deep drilling underway to expand resources altonamining.com

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Luikonlahti Mill

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Luikonlahti Mill Key Facts

Interior Luikonlahti Mill Hall

Status

91.5% copper recovery. 71.5% gold recovery.

Products

Copper-gold concentrate Zinc concentrate. Bolidens Harjavalta smelter 400km by truck, monthly payments. FY2013 sales US$64M.

Sales

Plant capacity Up to 700,000tpa. Milling cost 15/tonne plus 3/tonne concentrate transport. Low-grade cobalt-nickelcopper concentrate in storage dams
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Cobalt
Pebble mill 1 in action altonamining.com
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Mine and Mill Movie

To view movie go to www.altonamining.com

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Robust Quarterly Production Performance

4,000 3,500 3,000 2,500 Tonnes 2,000 1,500 1,000 500 Q3 FY12 Q4 FY12 Q1 FY13 Q2 FY13 Q3 FY13 Copper Q4 FY13 Q1 FY14 C1 Cost By-products as Copper Equivalent 2.5 2.3 2.1 1.9 1.7 1.5 1.3 1.1 0.9 0.7 0.5 US$ / lb*

2012/2013 was a ramp up year and EBIT (earnings) were US$18.3 million.
* C1 cash cost calculated per Brook Hunt methodology. Cost data during commissioning period not meaningful.

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Altona Among the Best ASX Copper Producers

C1 Cash Cost US$ / lb September Quarter 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00

Altonas C1 Cash cost calculated as per Brook Hunt methodology. Refer to websites of above companies for their calculation method. Source: September quarterly activities reports of the respective companies, except Hillgrove which is for the quarter ended 31 July.
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Increasing Resources and Reserves

90000 80000 70000 60000 CopperTonnes 50000 40000 30000 20000 10000 0 FeasibilityStudy Productiondepletion altonamining.com June2012 December2012 OreReservesCut June2013 ReserveGrade 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 CopperGrade%
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November 2013

Outokumpu Guidance FY2014

Metric Ore (tonnes) Copper grade (%) Copper production (tonnes) Gold production (ounces) C1 costs (US$/lb)

Guidance Range 570,000 - 625,000 1.50 - 1.65 8,000 - 8,800 8,400 - 9,200 1.60 - 1.75

Production guidance increased after excellent first quarter C1 cash cost guidance falls Commence paying debt principal in Q3 FY2014 Capital expenditure will reduce significantly in FY2015 8,659 tonnes copper hedged to Q4 FY16 at 5,651/tonne (US$3.46/lb)

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Outokumpu: Sustainable Growth

PRODUCTION AND GROWING CASHFLOW Currently 12 - 13,000tpa Cueq*, 7.6 year life. Reserve expansion likely, targeting 700,000tpa throughput Leverage our mill and competencies in the Nordic region Cash in bank, no net debt and positive cashflow

STRATEGIC ASSET

FINANCIALLY STRONG

EXPLORATION UPSIDE

We control a major historic copper field

POTENTIAL FOR COBALTNICKEL REVENUE

* See Disclaimer.

Storing US$50M of valuable metals in concentrates in dams each year

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Roseby Copper Project

Little Eva

Looking north-west from Green Hills altonamining.com

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3 Elements to the Little Eva Project

Little Eva: A Development Ready Project Fully permitted with DFS completed on a simple 39,000tpa copper open pit mine and flotation plant

Major Resource Inventory 1.52Mt copper including 0.84Mt copper in deposits within Little Eva Project tenure

Exploration 750km of exploration tenure prospective for copper, gold and zinc-lead-silver surrounds the Resources. 800km2 Roseby South JV with Chinalco Yunnan leverages exploration exposure
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A Strategic Asset

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Little Eva is a Large Deposit

1.3km long, 20-370m wide Drilled up to 300m deep (511 drillholes, 76km) Large bulk IOCG style deposit similar to Ernest Henry Strip ratio of 1.8:1 after 15Mt pre-strip Reserve: 53Mt ore at 0.6% copper, 0.1g/t gold Additional 6Mt reserves in 3 small satellite pits 15Mt of low grade ore stockpiled and treated at end of mine life 11 year mine life Underground potential

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May 2012 Definitive Feasibility Study

Bankable DFS by GR Engineering Services Large, simple and well drilled resource Straightforward open pit mining and processing for 11 years Simple processing route Quality copper-gold concentrate Stable, skilled mining jurisdiction Native title, environmental permits and mining leases all in place A$252 million NPV A$320 million capital cost US$1.73/lb cash cost
Ernest Henry Mine Truck

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DFS Update Pending

DFS costs were top of market

Mining contractor rates down from DFS estimates Engineering margins down Incorporate post DFS drilling at Turkey Creek, Lady Clayre and Ivy Ann Little Eva resource/reserve remodelling Lower operating costs Lower capital costs Longer mine life (>11 years)
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Resource/Reserves

Outlook

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What Next for Little Eva?

Altona needs a partner to develop Little Eva Altona pursuing partnering, sale and corporate opportunities that flow from having a large development ready copper asset China has bought up the Mt Isa area, eg: Shanxi Donghui A$160 million bid for copper miner Inova A number of Chinese parties and others in the data room

Major land positions in Mt Isa

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The Altona Advantage

PRODUCTION & CASHFLOW

De-risked copper-gold-zinc mine and mill in Finland with strong growth profile 1.66Mt (3.7mlbs) copper and 0.76Moz gold in resources Little Eva copper-gold deposit nearing decision to build / value realisation Cash in bank, no net debt and positive cashflow

COPPER LEVERAGE

STRATEGIC OPTION

STRONG FINANCIALS

EXPLORATION UPSIDE

We control two major copper fields

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APPENDICES
2011 was a turbulent year, 2012 will be Altonas year to shine

Termite mounds watching summer storms at the Blackard deposit

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An Experienced Team
Altona Management Alistair Cowden Managing Director

Eric Hughes Chief Financial Officer

Over 30 years experience as a geologist and mining company executive Instrumental in listing Vulcan Resources, Rox Resources, Archaean Gold and Magnetic Minerals

Accountant, formerly BHP Billiton 20 years experience in financial management of resources companies 10 years experience as CFO of listed companies

Iain Scott Chief Operating Officer

Jarmo Vesanto General Manager Finland

Metallurgist, formerly Straits, Renison 25 years experience in mining and processing 15 years experience at COO and MD levels

Geologist 25 years Outokumpu Oyj in Finland, Canada and Australia 6 years as Manager in Finland

Altona Board Kevin Maloney Paul Hallam Peter Ingram Steve Scudamore Non-Executive Chairman, founder of The Mac Services. Extensive career in retail banking, finance and resources Non-Executive Director, formerly Director of Operations at Fortescue and EGM Development and Projects for Newcrest Non-Executive Director , 45 years mining industry experience Non-Executive Director , 28 years as a partner at international accounting and financial services firm KPMG
November 2013 30.

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Top 10 Shareholders (53.6%)

Rank 1 2 3 4 5 6 7 8 9 10 Shareholder Perpetual Investments L1 Capital German retail clients through Clearstream Luxembourg Kevin Maloney (Chairman) Thomas Roeggla and clients Colonial First State - Growth Australian Matchpoint Investment Management Finnish Industry Investment Dr Alistair Cowden (MD) Pareto Growth Country Australia Australia Germany Australia Monaco Australia Hong Kong Finland Australia Norway No. of Shares 73,422,491 58,006,278 38,947,372 35,348,000 29,626,422 11,200,000 11,114,261 10,261,300 10,010,960 7,399,233 % 13.8% 10.9% 7.3% 6.6% 5.6% 2.1% 2.1% 1.9% 1.9% 1.4%

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Share Price has Outperformed other ASX Coppers

350 300 250 200 150 100 50 0

Altona

Hillgrove

Ivanhoe

Tiger

OZMinerals

AllOrdinaries

Altona commenced trading on 23 February 2010

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Roseby Resource Estimates

TOTAL DEPOSIT Tonnes million Grade Au (g/t) CONTAINED METAL Copper Gold MEASURED Tonnes million Grade Cu (%) Au (g/t) INDICATED Tonne million Grade Cu (%) INFERRED Tonnes Grade Cu (%) Au (g/t)

Cu (%) COPPER-GOLD DEPOSITS Little Eva Ivy Ann Lady Clayre Bedford Sub-total Blackard Scanlan Longamundi Legend Great Southern Caroline Charlie Brown Sub-total TOTAL

I metre tonnes ounces

538,000 43,000 78,000 17,000 675,000 475,000 143,000 69,000 94,000 37,000 19,000 3,000 840,000 1,515,000 384,000 271,000 17,000 85,000 11,000 384,000

Au million (g/t) 22.6 2.1 10.4 0.4 35.5 42.7 3.8 10.4 17.4 6.0 3.6 0.7

100.3 0.54 0.09 7.5 0.57 0.07 14.0 0.56 0.20 1.7 0.99 0.20 123.4 0.55 0.10 76.4 0.62 22.2 0.65 10.4 0.66 17.4 0.54 6.0 0.61 3.6 0.53 0.7 0.40 136.7 0.61 260.1 0.58 0.05

36.3 0.63 0.08

41.4 5.4 3.6 1.3

0.48 0.08 0.60 0.08 0.60 0.24 1.04 0.21 0.52 0.09 0.60 0.65

0.49 0.11 0.49 0.06 0.54 0.18 0.83 0.16 0.51 0.13 0.59 0.60 0.66 0.54 0.61 0.53 0.40 0.59 0.56 0.04

36.3 0.63 0.08 27.0 0.68

51.7 6.6 18.4

COPPER ONLY DEPOSITS

27.0 0.68 63.2 0.65 0.05

25.0 76.7

0.64 0.55 0.06

84.7 120.1

See ASX release of 26 July 2011, 19 December 2011, 23 April 2012, 3 July 2012 and 22 August 2012 for full details of resource estimation methodology and attributions. Note: All figures may not sum exactly due to rounding. Little Eva is reported above a 0.2% copper lower cut-off grade, all other deposits are above 0.3% copper lower cut-off grade.

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Little Eva Project - Resource and Reserve Estimates

Tonnes (m) RESERVES Proven Probable Sub Total Probable (stockpile) Total Mining Inventory 31.2 28.1 59.3 15.3 74.7 1.9 Copper (%) 0.64 0.53 0.59 0.18 0.50 0.51 Gold (g/t) 0.08 0.10 0.09 0.06 0.08 0.23 Contained Copper (t) 198,000 149,000 347,000 28,000 375,000 10,000 Contained Gold (oz) 85,000 90,000 174,000 31,000 204,000 14,000

See ASX release of 14 May 2012 for full details of Reserve estimation methodology and attribution and 26 July 2011, 19 December 2011, 23 April 2012 and 22 August 2012 for full details of Resource estimation methodology and attribution.

Little Eva Project reserves are drawn from Little Eva, Lady Clayre and Ivy Ann.

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Outokumpu Resource and Reserve Estimates

Deposit Saramki Vuonos Hautalampi Riihilahti Valkeisenranta Srkiniemi Sarkalahti TOTAL Kylylahti RESOURCES Measured Indicated Inferred TOTAL Contained metal (t) RESERVES Proven Probable TOTAL Contained metal (t) Classification Inferred Inferred Measured Indicated Inferred Total Indicated Indicated Indicated Inferred Tonnes (m) 3.40 0.76 1.03 1.23 0.90 3.16 0.14 1.54 0.10 0.19 16.98 Tonnes (m) 1.4 5.4 0.9 7.7 Copper (%) 0.71 1.76 0.47 0.30 0.30 0.36 1.69 0.29 0.35 0.33 0.93 Copper (%) 1.22 1.44 0.64 1.31 100,670 1.51 1.62 1.60 66,700 Gold (g/t) 0.31 Gold (g/t) 0.56 0.72 0.59 0.68 167,850oz 0.75 0.73 0.73 97,700oz Zinc (%) 0.63 1.33 0.06 0.07 0.10 0.07 0.44 Zinc (%) 0.55 0.54 0.36 0.52 40,360 0.66 0.62 0.63 26,100 Cobalt (%) 0.09 0.14 0.13 0.11 0.10 0.11 0.04 0.03 0.05 0.15 Cobalt (%) 0.23 0.25 0.17 0.23 18,000 0.25 0.27 0.27 11,100 Nickel (%) 0.05 0.47 0.42 0.40 0.43 0.16 0.71 0.70 1.02 0.26 Nickel (%) 0.20 0.20 0.25 0.21 15,900 0.15 0.17 0.16 6,900

0.6 3.5 4.2

See ASX release of 29 August 2013 for full details as required by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code).

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Telephone: +61 8 9485 2929 Facsimile: +61 8 9486 8700 Email: altona@altonamining.com www.altonamining.com

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November 2013