Establishing a Mining House in Sweden

2

Major EU Mining Centre

Low Sovereign

Risk

VERY large mines

Active exploration

High quality exploration

data

(SGU, MRIO, Mala)

Potential for major

discoveries

Why Sweden ?

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Sweden – one of the European Unions Major Mining Centres

A. Excellent ore potential 1,000 year mining history Largest producer of iron ore in the EU Leading producer of base metals – copper, zinc and lead Leading producer of precious metals – gold and silver

B. Under-explored by modern standards

C. Political and economic stabilityRanked 12th in the 2009 World Risk Survey (WA ranked 12th)

D. Excellent infrastructure

E. Favourable minerals legislationInitial exploration permit 3 years – maximum 15 yearsInitial exploitation concessions 25 years – rolling 10 year extensionsGovernment royalty 0.2% of average value of minerals mined

F. Low corporate taxCorporate tax rate 28%

G. World –class databasesSGU Mineral resources Information Office in Mala

H. Mining know-how and highly trained personnelGlobal leaders in supply of mining technology

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Sweden - very large mines

1. Kiruna Iron Mine (owned by LKAB)1. 2Bt iron mine2. Production in 2007 was 24.7Mt (76% pellets) 3. Production for 1st three quarters of 2008 was 18Mt4. SEK6 billion concentrator and pelletising plant produced first pellets in May

2008 5. Recent decision to invest SEK12.4 billion into a new main level6. Town must be moved at cost of SEK12.5 billion7. Capacity to produce 30Mt/y of pellets8. Mining in Kiruna secure through to 2035

2. Aitik Copper Mine (owned by Boliden)1. one of Europe's largest producers of copper, and also a major producer

of gold and silver2. Aitik has produced almost 430 Mt of ore (to 2007) . 3. 389 Mt of proven ore reserves grading 0.2 g/t gold, 2 g/t silver and 0.29%

copper (as at January 2008) 4. 221 Mt of probable ore reserves grading 0.1 g/t gold, 2 g/t silver and

0.28% copper5. Measured and indicated mineral resources amount to an additional 1048

Mt6. Increasing copper production from 18Mt/y to 36Mt/y7. Investment in new concentrator and mining plant is SEK6 billion8. The mine and its concentrator started operating in 1968.

5

Kiruna 2Bt Iron Mine owned by LKAB (Swedish Government)(Automated & Underground)

6

Aitik Copper Mine owned by Boliden

7

Sweden – active exploration

1. Only the Swedish State permitted to conduct exploration until 1992

2. Now more than 100 exploration companies now active in Sweden including:Anglo AmericanPhelps DodgeRio TintoTeck Cominco

3. Australian listed companies active in Scandinavia include:Dragon Mining Ltd (ASX:DRA)Avalon Minerals Ltd (ASX:AVI)Aura Energy Ltd (ASX:AEE)Northern Iron Ltd (ASX:NFE)Vulcan Limited (ASX:VCN)Golden Rim Resources Ltd (ASX:GMR)

3. US$92 million spent on exploration in 2007 (US$49:2006)

8

Sweden – outstanding exploration data

Geological Survey of Sweden is the Swedish central government agency responsible for all matters relating to Swedish geology

SGU Mineral Resources Information Office serves as a ‘one-stop-shop’ for everyone conducting exploration in Sweden – established 1993

All government data plus data from private exploration has been merged and stored in archives and databases1. >8,000 exploration reports2. 100,000 maps of various kinds3. Drill core and drill hole logs4. Field notes etc5. 20,000 mineralised boulders6. >4,000km of drill core

SGU offers explorers:1. Aerial geophysical data covering al of Sweden (magnetic radiation and

electromagnetic)2. Ground geophysical data (magnetic, electromagnetic, gravity and petrophysical)3. Geochemical data (soils, stream peat, stream sediment and bedrock)4. Bedrock data (rock type distribution, age, chemical and mineralogical composition,

tectonics and mineral deposits)

9

SGU, Mineral Resources Information Office, Mala, Sweden

Olof Forslund & Swedish Minister for Resources

Drill core archive, > 4,000km of core

SGU Data Library

10

Malå, Sweden is located in Västerbottencounty, approximately 950 km to the north of Stockholm • Home of the SGU Mineral Information Office• Home of Olof Forslund

11

Olof Forslund (ex-Regional Manager of SGU’s MRIO,

Mala)

Damian Hicks

(Corporate)

Developed Exploration Portfolio

(Since 2007)

Scandinavian Resources Ltd

ASX Capital Raise to Fund Next Phase (2009)

Searching for Mining Asset (Future)

Why Scandinavian Resources Ltd?

Damian Hicks and Olof Forslund signing the MOU in Mala, Sweden on November 2007

12

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Mr Olof Forslund – highly credentialed Swedish Technical Director

• Regional Manager of the SGU’s Mineral Resources Information Office in Mala,Sweden (2003 – 2007); SGU 1999-2007 & 1966 - 1982

• Geophysicist

• Extensive international experience in the minerals exploration industry, particularly inthe development and application of geophysical instruments and radar technology

• Assignments have covered activities in Sweden, Japan, South Korea, Germany,Belgium, Italy, France, Canada and the USA

• Founding shareholder and President of MALÅ GeoScience (www.malags.com) (1994and 1998) - MALÅ is currently the global leader in the design and manufacture ofGround Penetrating Radar (GPR) systems

• Extensive network of contacts through Scandinavia covering geophysicists,geologists, drilling companies, government and industry

• Responsible for the SGU’s active participation at the Prospectors and Developer’sConference (otherwise known as PDAC) in Toronto, Canada.

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Olof ForslundTechnical Director Scandinavian Resources Ltd

Orjan Einarsson, PrincipalGeoPartner AB

Kjell StenmarkWell known Prospector

Amanda ArrowsmithConsulting Geologist

15

Scandinavian Resources Ltd (SRL)

1. SRL is the 12th largest exploration permit holder by area in Sweden

2. Commodities covered include:• precious metals (gold and silver)• base metals (copper, lead and zinc)• PGE’s (platinum and palladium)• iron; and• manganese

3. All projects owned 100% by SRL (1.02% royalty payable)

Kiruna Project• Iron (copper) targets• ~30km SW of the giant LKAB owned Kiruna (2Bt) iron mine

Lake Embrace (Famnvatnet)• Gold-copper-lead-zinc targets• Located to the south of the Ørtfjell Fe deposit and the Mofjellet Zn-Cu deposit

Swampy Mountain (Våtmyrberget)• Platinum and palladium targets• Iron-copper-gold targets• Located in the Skellefte mining district

Exploration Project Pipeline• 13 tenements

16

Major Exploration Project’s Location

17

Scandinavian Resources Ltd

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100Mt@40% Fe

Au Ag Cu

ppm ppm ppm

SKU09010 0.19 3.2 6300

Fe SiO2 Al2O3 P

% % % %

SKU09006 68.2 1.58 0.6 0.001

Fe SiO2 Al2O3 P

% % % %

SKU09013 64.1 4 0.23 0.007

Fe SiO2 Al2O3 P

% % % %

SKU09002 54 19.7 0.51 0.036

19

Fe SiO2 Al2O3 P

% % % %

SKU09006 68.2 1.58 0.6 0.001

Luppovare Prospect

Kjell Stenmark, August 2009

20

Fe SiO2 Al2O3 P

% % % %

SKU09013 64.1 4 0.23 0.007

Kuosatjvare Prospect

Olof Forslund & Amanda Arrowsmith, August 2009

21

Skuokimjokk Prospect

Fe SiO2 Al2O3 P

% % % %

SKU09002 54 19.7 0.51 0.036

Olof Forslund & Amanda Arrowsmith, August 2009

22

KIRUNA PROJECT Fe (XRF) SiO2 (XRF) Al2O3 (XRF) P (XRF) Au (ICP-AES) Ag (ICP-MS) Cu (ICP-MS)

Skuokimjokk Prospect % % % % ppm ppm ppm

SKU09001 49.5 21.1 0.89 0.045 0.559 0.56 125.5

SKU09002 54 19.65 0.51 0.036 0.012 0.18 40.8

SKU09003 34.1 47.1 0.41 0.023 <0.001 0.12 12.7

SKU09004 41.5 36.8 1.18 0.034 <0.001 0.18 8

Luppovare Prospect

SKU09005 51.7 17.7 1.51 0.003 0.005 0.09 5.2

SKU09006 68.2 1.58 0.6 0.001 <0.001 0.11 5.3

SKU09007 49.8 17.8 4.21 0.007 <0.001 0.14 13.4

Kuosatjvare Prospect

SKU09008 34.1 36.8 6.56 0.193 0.002 0.1 29.3

SKU09009 33.8 33.2 8.14 0.102 <0.001 0.06 8

SKU09013 64.1 4 0.23 0.007 <0.001 0.1 8.4

Riekko Prospect

SKU09010 9.18 44.8 15.2 0.427 0.188 3.2 6300

Piedjasjtåkka Prospect

SKU09012 4.43 68.4 12.3 0.027 0.011 0.47 3670

High Grade Samples Collected by Scandinavian Resources Ltd, August 2009

23Scandinavian Resources Ltd

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Famnvatnet Prospect

Au (ICP-AES) Ag (ICP-AES) Cu (ICP-AES) Pb (ICP-AES) Zn (ICP-AES)ppm ppm Ore Grade % Ore Grade % Ore Grade % Ore Grade

FAM09007 0.023 2.93 29.70JS010 0.013 1.32* 13.00*

FAM09008 0.791 114 2.13 3.63 10.35JS011^ 0.621 105* 1.87* 3.00* 8.05*

*Ore Grade (AAS)^ BoulderFAM09007 (collected August 2009) & JS010 (collected August 2008) are from similar location FAM09008 (collected August 2009) & JS011 (collected August 2008) are from similar location

Massive, banded pyrite-galena-sphalerite ore at Famnvatnet, Norway. Grid reference 469798E 7300161N at an elevation of 628m; Sample JS011.

Cu 1.87%Pb 3.00%Zn 8.05%

Ag 105ppmAu 0.621g/t

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Famnvatnet

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Kilvassaksla ProspectAugust 2009

27

Samples collected by Scandinavian Resources Ltd

Au (ICP-AES)

Ag (ICP-MS)

Cu (ICP-MS)

Pb (ICP-MS) S (ICP-MS) Zn (ICP-MS)

Ag (ICP-AES)

Cu (ICP-AES)

Pb (ICP-AES)

Zn (ICP-AES)

Jofellet Prospect ppm ppm ppm ppm % ppm

ppm Ore Grade

% Ore Grade

% Ore Grade

% Ore Grade

FAM09001 0.001 0.16 68.8 4.3 0.73 33

FAM09002 0.01 0.71 27.5 95.5 0.05 22Kilvassaksla Prospect

FAM09003 <0.001 0.44 279 14.7 2.77 44

FAM09004 0.103 0.34 2650 3.8 6.24 20

FAM09005 0.002 0.21 457 3.9 5.03 36

FAM09006 0.008 0.45 3210 6.9 >10.0 27

JS008 0.013 0.3 427 4 1.44 141

JS009^ 0.025 0.5 3080 <2 7.69 15Famnvatnet Prospect

FAM09007 0.023 31.1 71.8 >10000 >10.0 >10000 2.93 29.70

FAM09008 0.791 >100 >10000 >10000 >10.0 >10000 114 2.13 3.63 10.35

JS010 0.013 14.6 26 >10000 >10.0 >10000 1.32* 13.00*

JS011^ 0.621 >100 >10000 >10000 >10.0 >10000 105* 1.87* 3.00* 8.05**Ore Grade

(AAS)

^ BoulderFAM09007 (collected August 2009) & JS010 (collected August 2008)

are from similar location FAM09008 (collected August 2009) & JS011 (collected August 2008)

are from similar location

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Geophysical survey (VTEM) over Lake Embrace Project completed in September 2009

29

Preliminary interpretation of VTEM data generated many targets requiring follow up

30

Scandinavian Resources Ltd

31

Vatmyrberget Project prospective for IOCG mineralisation

Vatmyrberget Project

Ag Cu W Au Fe

ppm % ppm ppm %

KS08204 8.7 0.9 2,470 0.1

KS08105 32.5 4.56 1,540 0.1

KS08106 29.8 2.47 370 0.39 32.3

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COMMODITY PROJECT PROSPECT COUNTRY AUNIT CURAREA TSTATUS APPDATEMajor ProjectsFe-Cu-Au Kiruna Project Luppovare 1 Sweden ha 874 Granted 8/07/2008Fe-Cu-Au Luppovare 2 Sweden ha 11,755 Granted 17/08/2008Fe-Cu-Au Luppovare 3 Sweden ha 10,391 Pending 17/08/2008Fe-Cu-Au Piedastjokko 1 Sweden ha 2,168 Granted 8/07/2008Fe-Cu-Au Piedastjokko 4 Sweden ha 4,258 Granted 18/08/2008Fe-Cu-Au Piedastjokko 5 Sweden ha 1,255 Granted 18/08/2008

30,701Cu-Pb-Zn Lake Embrace Farmvattnet 1 - 95 Norway ha 2,275 Granted 3/10/2008Cu-Pb-Zn Farmvattnet 96 - 348 Norway 6,048 Pending 9/09/2009Cu-Pb-Zn Farmvattnet 349 - 564 Norway 5,160 Pending 9/09/2009

Zn Övre Elsvatnet Norway Pending 9/09/200913,483

Au-Ag-Cu-Pb-Zn-Ni Swampy Mountain Vatmyrberget 1 Sweden ha 2,028 Granted 29/11/2007Au-Ag-Cu-Pt-Pd Vatmyrberget 2 Sweden ha 2,158 Granted 8/04/2008

Au-Ag-Cu-Pb-Zn-Ni Vatmyrberget 3 Sweden ha 414 Granted 8/04/20084,600

Exploration PipelineCu-Au Sweden ha 229 Granted 7/04/2008Zn-Pb Sweden ha 315 Granted 26/10/2007Cu-Au Sweden ha 214 Granted 26/10/2007Au Sweden ha 470 Granted 28/11/2007Zn-Pb Sweden ha 100 Granted 28/11/2007Zn-Pb Sweden ha 100 Granted 28/11/2007Mn-Fe Sweden ha 321 Granted 9/07/2008Mn-Fe Sweden ha 1,006 Granted 8/07/2008Mn-Fe Sweden ha 281 Granted 8/07/2008Mn-Fe Sweden ha 268 Granted 8/07/2008Mn-Fe Sweden ha 324 Granted 8/07/2008

Fe-Cu-Au Sweden ha 1200 Granted 11/01/2008Fe-Cu-Au Sweden ha 1,387 Granted 8/07/2008

Au Sweden 400 Pending 24/09/2009Pb-Zn Sweden 400 Pending 24/09/2009Cu Sweden 2,293 Pending 24/09/2009

9,308

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Strategy includes acquisition of a development/mining asset in 2010

Corporate Structure

Scandinavian Resources LtdACN 132035842

(ASX Listed December 2009)

Hannans Scandinavia AB *Reg No. 556737-6263

Exploration permits and applications in Sweden and

Norway

* Audited by KPMG, Sweden

100%

34

100%

35

$6.5 million IPO December 2009 (ASX)

20 cents per share (ASX listed)PLUS1:1 free attaching option (ASX listed) exercisable at 25 cents on or before 31/10/11

Capital Structure

Minimum Raising($6.5m) - Shares

Round Shares Price Funds Raised

Vendor 20,000,000

Seed 8,666,667 0.075 650,000

IPO 32,500,000 0.2 6,500,000

61,166,667

Minimum Raising ($6.5m) - Options

Round Options Ex Price Expiry

Vendor 20,000,000 0.2 31/10/2012

Seed 8,666,667 0.2 31/10/2012

Directors 2,250,000 0.2 31/08/2011

IPO 32,500,000 0.25 31/10/2011

63,416,667

36

Use of Funds

Year 1 Year 2

$ $ $

Seed raise 650,000

Total funds raised in IPO 6,500,000

Total funds available 7,150,000

Exploration expenditure 4,435,000

Kiruna Project 1,250,000 1,250,000

Lake Embrace 650,000 650,000

Swampy Mountain 250,000 250,000

Total Exploration 2,150,000 2,150,000

Expenses of the Offers 715,000

Financial repayments 500,000

General working capital 1,500,000

Total funds applied 7,150,000

* Indicative only and subject to change

** Exploration expenditure from 1 July 2009

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Future Exploration Activities

1.Complete final VTEM interpretation from Famnvatnet Project, Norway (November / December 2009)

2. Review potential development/mining assets (In progress)3. Review potential exploration projects to add to ‘Exploration Pipeline’

4. ‘Work up’ current gold projects in Exploration Pipeline to ‘Major Project’ status (In progress)

5.Complete detailed gravity survey over Kiruna Project, Sweden (Next field season, March 2010)

6.Drill test Kiruna Project, Sweden to identify source and strike length of high grade iron identified at surface (Next field season, March 2010)

7.Drill Test Famnvatnet Project, Norway to establish source of VTEM anomalies (Next field season, March 2010)

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Acknowledgements

Scandinavian Resources Ltd acknowledges the excellent assistance provided to it by the staff at:

39

Swedish Brands – Entrepreneurial, Global & Successful

Global

Contact Details

Mr. Damian HicksChairman

+61 8 9324 1153 (Office Telephone)+61 8 9324 3366 (Office Facsimile)+61 419930087 (Mobile)

Street Address: Ground Floor, 28 Ord Street, West Perth, Western Australia

Postal Address: PO Box 1668, West Perth, Western Australia, 6872

damianh@scandinavianresources.com (E-mail)

www.scandinavianresources.com (Web)

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DisclaimerThis Document and the information contained herein and any presentation (collectively referred to as “Information”) is proprietary to Scandinavian Resources Limited (“the Company”). This Document is not intended for and should not be distributed to any other person than as permitted herein. By receipt of the Document, the Recipient agrees that it will not transmit, reproduce or make available the Document (or any Information contained herein) to anyone other than its professional advisers without the prior written consent of the Company. At the request of the Company, the Recipient will return, as soon as practicable, this Document together with any reproductions of it and any other Information which the Recipient may have received from the Parties. This Document is being provided exclusively to investors that qualify pursuant to Section 708 of the Corporations Act for thesole purpose of providing background information to enable the recipient to review the potential for the provision of equity funding to the Company. It is not intended as an offer, invitation, solicitation or recommendation with respect to any potential transaction. Potential investors must make their own independent assessment and investigation of the opportunity and should not rely on any statement or the adequacy or accuracy of the information provided. Securities of micro cap exploration companies, typically involve a high degree of risk and as such, any investment in the Company must be considered as speculative. The Information provided does not purport to cover all relevant information about any potential investment in the Company. Accordingly potential investors are advised to seek appropriate independent advice, if necessary, to determine the suitability of this investment. The Document contains reference to certain intentions, expectations and plans of the Company. Those intentions, expectations and plans may or may not be achieved. They are based on certain assumptions which may not be met or on which views may differ. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company or any of their respective directors, employees, agents, advisers and consultants that any intentions, expectations or plans will be achieved either totally or partially or within a prescribed timeframe or that any particular rate of return will be achieved. The Information disclosed relates to the proposed business of the Company at the date of this Document. Material information may have changed since the date the Document was compiled. No responsibility is accepted to advise any person of any change or update any of the Information.Neither the provision of this Document nor any information contained in this Document or subsequently communicated to any person in connection with this Document is, or should be taken as, constituting the giving of investment advice to any person. By accepting this Document you acknowledge and agree to be bound by each of the foregoing statements.

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