Projects Overview

Shaw River Manganese Limited (Shaw River) is a manganese explorer. Shaw River is currently operating one Namibian manganese project, five manganese projects in the Pilbara region of Australia and one Ghanaian manganese project. Shaw River offers excellent exposure to this strategic metal, critical to the global steel industry. Manganese offers investors the benefits of a high unit sale price, strong global demand and low capital and time costs for the development of feasible projects.

Future Operations

The Company's principal operating goals into 2012 are;

Otjozondu Project – Manganese (Agreement to purchase 75.5%)

• The completion of a feasibility study currently underway to commence manganese production in 2012.
• Increasing the existing 6.8 million tonnes at 23.1%Mn JORC Inferred Resource¹ to support a long life (+10 years) mining operation.
• Funding and construction of a new processing plant and commencement of production in 2012.
• Upgrade of site support infrastructure.
• Training and development of onsite employees.
• Construction of onsite accommodation facilities.

Baramine Project – Manganese, Iron (70% Shaw River)

Shaw River is seeking to define large-scale manganese resources at Baramine to pave the way for a long-life mining operation. Activity in 2011 will focus on delivering this outcome, which is expected to provide investors with regular news flow including:

• Modeling and interpretation of successful drilling at Baramine and the development of a detailed geological model for resource estimation and economic modeling.
• Additional beneficiation test work to be conductedusing bulk sampling and drilling.
• Infill drilling to follow up the identified
  4.5km structural and geochemical target zone which has indicated well developed Woodie Woodie style manganese mineralisation.
  

Butre Project – Manganese, Gold (80% Shaw River)

Shaw River plans to complete:

• Following the positive results of shallow infill drilling in 2011, potential economic quantities of oxide manganese with further potential at depth for carbonate manganese ore have been identified.
• Follow up work is planned focused on bulk sampling and further beneficiation test work, particularly to identify the potential of carbonate style ore occurences.
• Follow up RC drilling to identify depth extents of manganese mineralisation and gold potential on an adjacent shear zone is a priority.

701 Mile Project – Manganese, Iron (70% Shaw River)

• Inferred Resource calculation and discussions with 3rd party for processing evaluation.