WELCOME TO SPENCER RESOURCES LIMITED

Spencer Resources was incorporated on 11 January 2011 with the intention of becoming actively involved in exploration, development and investment in resource opportunities covering a suite of minerals. The Company has entered Tenement Purchase Agreements with ASX listed Carbine Tungsten Limited (“Carbine”) [formerly named Icon Resources Limited (“Icon”)] and Minotaur Operations Pty Limited (“Minotaur”) (a wholly owned subsidiary of ASX listed Minotaur Exploration Limited) respectively. Subject to the satisfaction or waiver of the conditions precedent in the Tenement Purchase Agreements and completion of them, the Company will have a majority interest in five exploration tenements, one in south-east Queensland and four west of Port Augusta in South Australia.

Under the Tenement Purchase Agreement with Carbine, the Company will acquire a 75% interest in EPM 17071 (Iron Pot Creek) located 21 kilometres southwest of Warwick and about 2.5 hours drive from Brisbane. The Company’s focus is a porphyry copper / gold prospect called Crystal Mount.

Under the Tenement Purchase Agreement with Minotaur, the Company will acquire a 70% interest in EL 4776 (Mt Double) and an 80% interest in each of ELA 95/11 (Yudnapinna), EL 4692 (Pandurra) and EL 4708 (Koolcutta), which are collectively called the Pandurra Block.

The Mt Double tenement is prospective for base metal occurrences like Menninnie Dam which is located 75 kilometres to the east. Past exploration by the Shell Company of Australia Limited (Metals Division) and Aberfoyle Resources Limited has identified numerous prospective lead and zinc prospects including Paney and Tin Hut Well. Spencer Resources is encouraged by the very recent exploration success of Investigator Resources Limited (“Investigator”) in defining the Paris Silver Prospect within the broader Peterlumbo Project located 25 kilometres to the east of Mt Double.The Pandurra Block is considered prospective for iron oxide copper gold accumulations (“IOCG”) and lies at the centre of South

Australia’s very important IOCG Corridor that hosts Olympic Dam, Prominent Hill, Carrapateena to the northwest and Rex Minerals Limited’s Hillside Project to the southeast. In addition the Company will be exploring for unconformity related uranium accumulations within the Pandurra Block and in particular the Cariewerloo Basin.

The Spencer Resources Board has the necessary background to ensure there is focus on sound exploration, development and acquisitions, building shareholder wealth in the process.

The Company intends acquire other prospective resources projects in Australia and possibly overseas.