BARYS RESOURCES LIMITED — Investor Presentation 2012

3 Richardson Street WEST PERTH WA 6005

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Attention: ASX Company Announcements Platform Lodgement of Market Briefing

15 October 2012

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Mining Group MD on the company’s assets and strategic outlook

Interview with Zeffron Reeves (Managing Director & CEO)

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Mining Group has been active in its exploration activities on its Philippines’ Comval Project assets across the Tagpura region. You have just announced a maiden inferred JORC resource of 136,100 tonnes of copper (0.42% copper) and 138,900 ounces of gold (0.13g/tonne). How important is this to developing a commercial, economic resource?

Zeffron Reeves

The resource is a start for us to build an economic resource and a significant copper project. It is also important to note that there is a higher grade resource, with nine million tonnes at 0.8% copper equivalent if we use a higher cut‐off of 0.4% copper. The current resource is about half way to the tonnage target to move into further studies such as a feasibility project.

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You have also indicated a new discovery at Tagpura North with peak assays of 3.58% copper and 12.52 g/tonne gold. Can you provide further detail about the discovery and where it is located relative to the resource?

Zeffron Reeves

The surface sampling at Tagpura North returned some of the highest copper and gold assays ever achieved within the project area from rock chip samples.

Tagpura North covers a wide 500 metre by 300 metre target zone, with the area still open to the north east. We’re on the right side of a major fault, which is how we delineated the target and this discovery has validated our exploration model. But we still have some more work to do before we are ready to drill the target such as completing the current detailed ground magnetic survey.

Market Briefing │Mining Group │15 October 2012

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What are the next steps that will be undertaken in relation to the new discovery at Tagpura North, and when will further results from this discovery be available?

Zeffron Reeves

We expect the ground magnetic survey to be finalised in the coming days. We'd then envisage drilling to commence within the next four to six weeks, with a further six weeks after that before we start seeing assays from these first holes. Initially we will plan to drill three or four holes at Tagpura North and assess the results.

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Can you provide any more detail about the geology of the area, and how accessible the ore body is in terms of ability to mine and ease of extraction?

Zeffron Reeves

Tagpura North looks slightly different to Tagpura East where the historic open pit is. It appears to be an extensive outcrop of mineralised porphyry and skarns, whereas Tagpura East is dominated by the skarns. We're seeing some really good gold values and also a native copper occurrence.

But what’s really attractive about the target is the high gold content.

Another point to note is that Tagpura North is 400 metres vertically above the old Tagpura East open pit mine, so we have the potential to have all that 400 metres preserved. We think Tagpura East was possibly eroded over time from what it originally was and the whole 400 metres above the mine is a large geographic footprint that is yet to be delineated.

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How is the area positioned in terms of infrastructure?

Zeffron Reeves

The resource is only 90 kilometres from the major city of Davao, the capital city of Mindanao, which has an international airport and a large commercial business centre. From there it’s a 1.5 hour drive to the project on sealed roads to within 10 kilometres of the project area. That road is currently being completed so that it will be sealed to within one kilometre of the project by mid next year.

Davao is also a major international port with significant capacity to bring equipment in and ship product out. It’s also a short shipping distance from major markets such as Malaysia, Japan and China, which are all major copper consumers.

Market Briefing │Mining Group │15 October 2012

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What are other examples of major mining operations in neighbouring areas?

Zeffron Reeves

A number of other projects have been given approval within the same geological zone. These include Red 5's Siana Mine, Medusa's Co‐O mine, as well as a number of privately owned companies operating medium‐sized operations, such as the Amacan project and the Masara gold project.

In recent times we've seen quite a few mining projects in the Philippines being permitted, and we feel it really is a good time to be entering the Philippines to invest and develop a project.

It’s worth noting the local community where we operate can remember when mining was previously part of the area and is keen to see mining take place again. The project is in a mining‐friendly province and the local village, the municipal council and the governor are all aligned in their views on mining.

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The company recently raised capital through a rights issue. What is the current cash position for the company and how will the available cash be utilised?

Zeffron Reeves

Our current cash position is $1.3 million. Immediately following the rights issue we extinguished $500,000 in short‐term debt. Work is progressing to initiate drilling at the Tagpura North site, and also to begin first pass drilling over our exciting gold targets on the EP1 lease in the north of the project.

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You have only recently taken on the role as Managing Director, can you provide us with your background and what attracted you to the role?

Zeffron Reeves

I have a technical background as a geologist and have worked on mining projects from a grassroots exploration level, through feasibility studies and development to taking on senior production roles in predominantly underground gold and nickel mines in Western Australia. I also have extensive South American experience, having worked in Brazil and Chile for eight years.

Recently, I helped bring the initial mining assets into a company I co‐founded, which includes a small gold mine that is about to go into production in Brazil. I have also held the role of CFO at an electrical engineering company that builds iron ore mines as well as carries out engineering works within the oil and gas and shipbuilding industries. I also have experience working on distressed mineral assets to make them profitable or ready for sale.

So I have a spread of skills to take Mining Group’s project forward and a keen understanding about how to make projects work.

Market Briefing │Mining Group │15 October 2012

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In terms of what attracted me to this role, I have worked with the company since its inception as a consultant and helped find the asset. So a key driver for me is the potential of the asset, the quality of the deposit and developing the business.

I really believe the project has the potential to hold a significant copper gold deposit. With a starting resource base we have just announced, together with a $6 million enterprise value at present, there is considerable value to be created within a short time frame which our team is currently doing.

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There have been a number of areas that have been explored since Mining Group took over the project. Are there any other areas of interest and further exploration potential?

Zeffron Reeves

Tagpura West, Tagpura East, Maangob and Kalamatan are all deposits still open for exploration and offer the potential to add tonnage. The Kalamatan deposit in particular has the potential to be very large and is showing typical porphyry characteristics. The Bayag Bayag target is yet to be delineated and we'll be looking at doing some further work there also.

Drilling at the Tagpura North target is anticipated to start within four to six weeks. We are also doing preliminary work on another target between the Tagpura pit and Kalamatan, which is starting to look quite prospective. We’ll look at defining the best of those targets for drilling. We’re also examining a gold target on the northern lease where we are conducting mapping, sampling and systematic trenching. We anticipate first pass drilling there by the end of the year.

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Does operating in the Philippines provide any particular advantages or disadvantages relative to Australian exploration and mining?

Zeffron Reeves

I think now is the right time to establish in the Philippines. Mining laws are being ratified to create a more certain environment from a political and legal standpoint. The country has been underexplored compared to Australia and to date been ignored by the major mining companies, which are only now starting to become more interested in entering the country.

The country also has a recent track record of project development, with a number of projects going from the approval stage to product development, for instance CGA Mining’s Masbate Gold project and Red 5's Siana project.

The Philippine workforce is highly skilled and competent, from management to technical staff such as geologists and engineers, through to machine operators and drillers. Labour and operating costs are much lower than in Australia which is a major draw card.

As I mentioned earlier, the local community is very supportive of the project. We are also doing work on a daily basis on projects to help the local community become more sustainable in the future so that we leave a legacy of economic progress for all the local stakeholders.

Market Briefing │Mining Group │15 October 2012

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Can you provide an update on the key areas of strategic focus and activity for Mining Group over the next six to 12 months?

Zeffron Reeves

We are focused on delineating the best target outside the main Tagpura area to achieve the tonnages to take the project to the next level.

We are looking to delineate an additional eight million to 10 million tonnes of resources to take the project to between 18 million and 25 million tonnes of 0.75% to 0.8% copper equivalent. The focus is to get a high grade deposit across the line and grow the company from there with the real prize being a world class copper‐gold porphyry deposit.

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Thank you, Zeff.

For further information, please contact Mining Group on +61‐8 9322 6424, or visit www.mininggroup.net.au

DISCLAIMER : Market Eye Pty Ltd (Market Eye) has taken reasonable care in publishing the information contained in this Market Briefing. The information is provided in summary form, does not purport to be complete, and is not intended to be used as the basis for any investment decision. The reader of this Market Briefing is solely responsible for how they use the information, and Market Eye strongly advises that independent professional advice be sought prior to making any investment decision. Market Eye is not responsible for any consequence as a result of the use of this Market Briefing, including any loss or damage a reader or third party might suffer as a result of that use.

Some of the information contained in this Market Briefing contains “forward‐looking statements” which may not directly or exclusively relate to historical facts. These forward‐looking statements reflect Mining Group’s current intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside the control of Mining Group.

Actual results could differ materially from Mining Group’s current intentions, plans, expectations, assumptions and beliefs about the future. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward‐looking statements include known and unknown risks.

Competent Person statement : The information in this report that relates to the Tagpura, Maangob and Kalamatan Mineral Resources, is based on information compiled by Chris Black of Cube Consulting, who is a Member of The Australasian Institute of Geoscientists. Chris Black has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Mineral Resources and Ore Reserves”. Chris Black consents to the inclusion in the report of the matters based on their information in the form and context in which it appears. Cube Consulting is an independent Perth based resource consulting firm specialising in geological modelling, resource estimation and Information Technology.

The information in this report that relates to Exploration Results is based on information compiled by Mr Zeffron Reeves (B App Sc (Hons) (Applied Geology) MBA, MAIG), an employee of the Company. Mr Reeves has sufficient experience that 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 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Reeves consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Market Briefing │Mining Group │15 October 2012

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