Managing risk:Gold, Diamonds & Iron Oreexploration in West Africa

The Geological SocietyLondon, September 2008

Risks

Rewards

Success factors

MRRI London, June 2008

Company Overview

Diversified mineral exploration & development company with a core focus on identifying resource opportunities in west Africa.

Three distinct divisions: Gold, Iron Ore & Diamonds. Balanced portfolio of assets: near term cash flow and

production & medium term growth potential. Strong institutional shareholders:

JP Morgan, Fidelity, Hermes, Saracen, New City, GAIA Credible partners:

Severstal, BHP Billiton, Petra Diamonds, De Beers, Trans Hex

MRRI London, June 2008

Strategy

Ensure transparent valuations for all three core divisions

Advance near term production assets to create cash flow

Add medium term value by rapidly advancing exploration projects

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Highlights of last 12 months

New management in place to deliver on the next phase of development

Agreement signed with Severstal to advance the Putu Range

Iron Ore Project

Completion of an intermediary drilling programme at New Liberty Gold to increase confidence & expand resource

Solidified plans to list Stellar Diamonds with £7.4m financing

MRRI London, June 2008

The Board of Directors

Dave Evans – Executive Chairman 33 years mining experience in RSA with Anglo American, De Beers, Kroondal, Aquarius Platinum

Luis da Silva – President & CEO Extensive international operational, technical & corporate experience in multi-nationals within basic industries: Blue Circle, Lafarge & Dragomar. Mining Engineer & MBA

Guy Pas – Non-Executive Director Chase Manhattan, Addax & Oryx, Samax, Mano, Oxus, Ovoca, Afren, Gaia Resources Fund, AfGas, Siberian Diamonds, co-founder and/or early stage funder

Dr Tom Elder – Non-Executive Director

Geologist with extensive experience. Former Mano CEO. Board of Centamin Egypt and Angus & Ross.

Malcolm Burne – Non-Executive Director

Golden Prospect, Jubilee Platinum, Great Panther, Ambrian

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West African Focus

A primary focus on Liberia, Sierra Leone and Guinea.Emerging west African democracies with increasing political stability and increasing foreign investment. Well established mining industries following a long history in the extractive sector, a key driver for economic growth. Attractive fiscal terms in chosen countries. Improving infrastructure. Major players operating & investing in the region. 

MRRI London, June 2008

Mano River Resources in West Africa

Experience & expertise – a long history of operating in west Africa

Excellent resource base across three countries First mover status – well positioned to capitalise on future

growth opportunities Attracted high quality strategic JV partners to advance

projects Stepped outside traditional geographic focus into North DRC

through JV between Stellar & BHPB

MRRI London, June 2008

Chosen Commodities – Market Overview

Long term outlook is strong in gold, diamonds & iron ore

Supply demand factors governed in part by China & India’s appetite

Gold $890oz (minimum 1.5Moz) Diamonds 20-25% increase in 2008 (production this year) Iron Ore 60-80% price increase in contracts for 2008 (targeting

900Mt)

Liberia as an Iron Ore Producer - Previously 6th largest exporter

MRRI London, June 2008

Iron Ore

Putu Range Iron Ore Project, Liberia Located in Grand Gedeh County in eastern Liberia First explored in 1950s & 1960s established a resource of 455Mt at grades ranging between 45-65% Exploration focussed on the Mt. Jideh Ridge – 12km strike length  

MRRI London, June 2008

Putu Range Iron Ore Project

Significant developments to date: Severstal Agreement

Agreed to invest up to US$22m into Mano directly & US$30m into AIOG to earn up to 61.5% to take the project through to BFS

Severstal is a leading Russian steel and mining company with expertise in mining iron ore deposits

5,000m drilling programme underway to further delineate the resource and further establish the quality & quantity of the resource.

SRK Report – targeting 900Mt. Historic 218m adit rehabilitated - sampling completed. Phase 1 of rail route study completed. Environmental Impact Assessment (EIA) performed.

MRRI London, June 2008

Iron Ore Division – Goals

Fast track development through to production:

Further delineate the Mt Jideh resource Convert exploration licence to an Mineral Development

Agreement (MDA)

Optimise points for port & rail Deliver a Bankable Feasibility Study (BFS)

MRRI London, June 2008

Gold

New Liberty Gold Mine North West Liberia

Positive feasibility completed for open pit operation in early 2007

Now targeting 2-3Moz  

MRRI London, June 2008

New Liberty Gold MineSignificant developments to date: Completion of a positive feasibility study in early 2007 New strategy to examine underground potential 2008 2,688m resource & delineation drilling programme

completed 6 holes 200-300m 2 holes 500-600m

Initial results encouraging for the development of an underground operation K-115 23m grading 4.95 g/t gold (including 12m at 9.12g/t) K-116 31m grading 3.59 g/t gold (including 17m at 7.03 g/t)

Mineral Corporation of South Africa commissioned to review database to define further targets on Mano’s licence area

MRRI London, June 2008

Gold Exploration

Weaju Property Liberia

Gondoja Liberia

Golden Star Resources JV Sierra Leone

Photos of exploration projects

MRRI London, June 2008

Gold Division – Goals

Allocate funds from Severstal deal to fast track development

Redefine resource at NLGM Initiate new feasibility study Advance exploration activities in Liberia, Sierra Leone and

Guinea.

MRRI London, June 2008

Stellar Diamonds

An integrated diamond explorer with production in 2008 from Guinea and underground bulk sampling of kimberlite fissures in Sierra Leone, 63% owned by Mano River Regional focus: Sierra Leone, Guinea, Liberia and the DRC Independently managed with dedicated Board AIM Listing, subject to market conditions7.4m pre-IPO financing to date

MRRI London, June 2008

Kono “Lion” Kimberlite Dykes- Sierra Leone

49:51 JV with Petra DiamondsUnderground bulk sampling focusing on two shaftsGrades between 65 & 75cphtDiamond value of $200/ct forecastedLargest diamonds 10.55 carats valued at $31,200Initial parcel weighing +800 carats sent to South Africa for valuation1,049 diamonds from trial mining to dateFirst tender scheduled for August 2008 

MRRI London, June 2008

Mandala Diamond Mine - Guinea 

100% owned project.536,000 carat indicated resource, 144,000 carat inferred resource.$65/ct estimate.Largest diamond 21.47 carats. Construction of MB100tph DMS plant completed & shipped early June 08. Mine fleet on site since early 2008. Production to commence H2 2008. Attractive margin / low capex mining operation giving early cash flow.   

MRRI London, June 2008

Stellar’s Exploration

Advanced Exploration

Tongo Project Sierra Leone

Bouro Kimberlite Project Guinea

Early stage exploration

BHP JV DRC

Transhex JV Liberia

MCA/Alpha Liberia

North Bea Liberia

MRRI London, June 2008

Stellar Diamonds – Goals

Complete additional private placement Mine decision on Kono Commence commercial operations – bring Mandala to

production Advance exploration at Tongo & other activities including DRC List Stellar on AIM, subject to market conditions

Performance of a Junior 1998 to 2008

Key ‘ingredients’ Luck Timing People [Technology] Funding

Mano has raised in total more than US$47m since 1997

The reality Competition is high

191 AIM miners

£2.5bn raised in 2007 Mainly before June Only £370m in Q4

H1 2008 raised £820m 91% or £743m from secondary issues

Quarterly trend of funds raised on AIM by mining companies

Performance of shares since listing (at 31 July 2008)

Cash reserve estimates (June 2008)

Summary Risks

Political & ultimately a funding one Geological

Rewards Can be high

Success Diversification Anticipating trends or reacting to trends in time Personal belief & drive

MRRI London, June 2008

Disclaimer

This presentation has been compiled by Mano River Resources Inc (“the Company”) for information purposes only and is not advice upon which it is intended that recipients should rely in deciding whether or not to invest in the Company. It is provided solely for use by recipients to consider the proposed business of the Company and is not an offer of shares or an invitation to subscribe for shares or to make any loan or other funding available to the Company. This document is only being distributed to persons who are reasonably believed to be sufficiently expert to understand the risks involved as described in the Financial Services and Markets Act (Financial Promotions) Order 2001.

The recipients accept that they will make their own investigation, analysis and decision relating to investing in the Company and will not rely upon or use this document to form the basis or any decision on such an investment. This document does not take into account the particular investment objectives, financial situation or the needs of individuals investors and you should consider whether it is suitable for your circumstances and, if necessary, seek professional advice.

The directors and advisers of the Company make no representation or warranty themselves, express or implied, as to the accuracy, reasonableness or completeness of the information contained in this document and it should not be relied upon as such. It contains statements and estimates with respect to the future anticipated performance of the Company. Such information may or may not prove to be correct. To the extent that it is lawfully able to do so, the Company and its advisers exclude liability for any representation or as to the accuracy of such statements, estimates or projections.

This document is confidential. It is only for the use of those to whom it is issued. It must not be copied or distributed to third parties (other than in confidence to the recipient’s professional advisers).

The Company’s affiliates, officers, directors, advisers and employees, including persons involved in the preparation or issuance of this document may from time to time have holdings in the Company’s securities.