31 May 2012

MMAARRKKEETT UUPPDDAATTEE The attached presentation outlines recent activity in Mauritania and information on Charter Pacific's investment portfolio. Highlights include: Mauritania Permit 792 - Kaoua El Khadhra (page 12) ‐ Prospective magnetite iron ore asset ‐ Tenement has a total area of 960km2 ‐ 80km strike line on western perimeter ‐ 71km strike line on eastern perimeter: SEMS Exploration Services has

also identified several other Banded Iron Formation (BIF) occurrences not previously mapped

‐ Commenced discussions with prospective drilling contractors Charter Pacific will have further updates which will be released to the market as the results become available. Contact: Kevin Dart Justin Kirkwood Managing Director Kirkwoods Corporate Relations Charter Pacific +61 2 9231 5600 +61 7 5538 2558 +61 411 251 324

A.B.N. 12 003 344 287

Level 18, 50 Cavill Avenue Surfers Paradise Qld 4217, Australia

P.O. Box 40

Surfers Paradise Qld 4217, Australia

Telephone: +61-7-5538 2558 Facsimile: +61-7-5526 8922

Internet: www.charpac.com.au

Email: charpac@charpac.com.au

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ASX: CHF

CORPORATE

PROFILE

May 2012

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INDEX

3. Overview

5. The Board/Management/

Technical Advisors

9. Mauritania

12. Kaoua El Khadhra – 792

20. Cetal – 791

22. Recent Mauritanian

Iron Ore Transaction

23. Peer Comparisons

24. Monteray Mining Group Ltd

29. FarmWorks Australia Limited

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Charter Pacific Corporation Limited (CP) is a diversified investment company listed on

the ASX. It invests across a range of companies in the resources and agribusiness

sectors that have significant potential.

These investments may need to be restructured and we look for an exit via a trade sale,

IPO or M&A.

INVESTMENT PORTFOLIO

West Africa Iron West Africa Resources Monteray Mining Group ASX: MRY

FarmWorks Australia ASX: FWA

51% of iron ore tenement – Mauritania Permit 792

(With the right to increase to 100%)

51% of iron ore tenement – Mauritania Permit 791

(With the right to increase to 100%)

Gold tenements – Western Australia and

Burkina Faso

Agriculture

100% (Subsidiary of CP)

100% (Subsidiary of CP)

30% 15%

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CHARTER PACIFIC CORPORATION LIMITED (ASX: CHF) 28 May 2012

Fully Paid Ordinary Shares 89,864,585

Unlisted Options (Various Expiry and Exercise Prices) 420,000

Market Capitalization $7.6 million

Top 20 Shareholders 60.45%

Directors & Senior Management 27.21%

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Brian Sprod – Non-Executive Chairman (founding Chairman)

Mr Sprod has extensive corporate finance expertise, with over thirty years experience as a

director of both listed and unlisted companies. He is a Fellow of the Certified Practising

Accountants and a Fellow Chartered Institute of Secretaries.

Kevin Dart - Managing Director (founding Managing Director)

Mr Dart has over twenty-five years experience in capital raisings, new listings, mergers and

acquisitions, as well as cross border transactions in Africa, United States, United Kingdom,

Asia and India. Mr Dart's current directorships include FarmWorks Australia Limited and

Monteray Mining Group Ltd and his previous directorships include Metal Storm Limited and

Chemgenex Pharmaceuticals Limited.

Peter Bradfield – Non-Executive Director

Mr Bradfield is a director of a number of companies both public and private, and has held

several senior management positions in the mining and resource industry. He is the former

Chairman and Managing Director of Elders Mining group of companies, CEO of Energy

Resources of Australia, a past Director of both the Australian Mining Industry Council and

Queensland Chamber of Mines. He was a Foundation Director of the Australian Minerals

Energy and Environment Foundation.

The Board

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Senior Management

Steve Cole – Company Secretary

Mr Cole has over twenty-five years experience as company secretary and financial officer of

listed and unlisted companies. Mr Cole has extensive experience establishing new public

companies, undertaking initial public offerings, public capital raisings on the Australian

Securities Exchange, and has been associated with the NASDAQ listing of Australian

companies.

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Advisors to the Board

David Selfe – Geologist

Mr Selfe has over 20 years’ experience as a Geologist with experience in Australia,

Indonesia and Africa and in commodities such as nickel, gold, base metals, manganese and

iron ore. Mr Selfe is a past and current Director of private exploration and investment

companies with interests in Indonesian gold and silver projects and African gold projects.

Prior to this Mr Selfe spent 14 years with Minara Resources Ltd/Glencore International plc a

world ranked top 10 refined nickel producer, where he gained extensive experience in

laterite nickel via the Murrin Murrin Project and manganese, iron ore, copper and nickel

sulphide via regional exploration projects. Mr Selfe was frequently seconded to Glencore for

the assessment of metals projects worldwide and held the position of Group Manager

Exploration.

Mr Selfe is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and

was the competent person for ASX exploration and resource reporting whilst at Minara

Resources Ltd. He holds a Bachelor of Science from the West Australian School of Mines

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SEMS Exploration

Simon Meadows Smith – SEMS Managing Director - Geologist

SEMS Exploration is the leading full-service mineral exploration and mining consultancy

company in West Africa. They provide a full range of geological, mining engineering and

environmental services; from grassroots reconnaissance exploration through to completion

of feasibility studies and mine design.

Mr Meadows Smith has a Bsc Geology, is a member of a ‘Recognised Overseas

Professional Organisation’(ROPO), the Institute of Materials, Minerals and Mining and who

is a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting

of Exploration Results, Mineral Resources and Ore Reserves.

Harry van den Berg – SEMS Consultant Geophysicist and Database and GIS Manager

Mr van den Berg has over twenty year’s experience working and consulting for major South

African mining houses on projects ranging from general exploration and target generation to

environmental, hydro-geological and geothermal potential studies. He pioneered ground EM

methods that lead to the discovery of the Khusib Springs copper deposit in Namibia.

Dr Andy Killick

Dr Killick has more than 35 years experience as an exploration geologist and applied

research worker in the minerals industry, operating widely in Africa. He has worked for the

Mauritania Ministry of Petroleum & Mines from 1999 until 2009 as a technical advisor and

supervisor of geological and geophysical surveys undertaken through the PRISM program.

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Mauritania

Other companies Sphere Minerals Bumi Resources

TransAfrika Resources

Cetal 791

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792 Kaoua 792

Railway line

Port

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Charter Pacific has exercised its option to acquire 51% of both Permit 792 and 791 for – Group 1 Minerals - Iron, manganese, titanium (hard rock), chromium & vanadium (i.e. the ferrous metals) Data on the permit - 792

Code and name of exploration permit: Kaoua El Khadra 792

Decree number granting the permit: 2010-115

Date of grant: 13 May 2010

Group of substances: Group 1 (Fe)

Area: 960km2

Data on the permit - 791

Code and name of exploration permit: Cetal 791 (Stal)

Decree number granting the permit: 2010-114

Date of grant: 13 May 2010

Date of entry into force 02 August 2010

Group of substances: Group 1 (Fe)

Area: 498km2

Exploration permits have a 9 year life span and Exploitation permits have a 40 year

life span.

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Mauritania and Iron Ore Exports

• Société Nationale Industrielle et Minière de Mauritanie (SNIM) is upgrading the

handling infrastructure at Nouadhibou port, mechanising the maintenance of the railway

and building a new iron ore tanker harbour all of which are completed and due to be

opened in June 2012.

• Nouadhibou, the deep water port, is connected by railway to the iron mines in Zouerate,

675km to the east. 717km total of single track owned and operated by SNIM. Freight

trains on this railway can be as much as 3km long, reputedly the longest in the world by

the Guinness Book of Records.

792 - Kaoua el Khadra is 45km southeast of the town of Akjoujt. Akjoujt is 160km south

of the railway line at its closest point and approximately 300km east, by rail, of the port

of Nouadhibou.

791 – Cetal lies 50km south of the railway line and 135km east, by rail, of the port

of Nouadhibou. • 1974 the Mauritanian government restructured the mining industry as part of a plan to

establish economic independence and SNIM formed, a government agency and the

national iron ore company.

• Exporting to France, Italy, India and China. For

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Permit 792 - Kaoua El Khadhra 792

Kaoua El Khadhra is a prospective magnetite iron ore asset located in the West African

country of Mauritania. It covers a total area of 960km2.

The positive outcome of a first pass ground magnetic survey on the western end of the 792

Permit completed by SEMS Exploration has confirmed the potential for an exploration target

of approximately 2.4 to 2.6 billion tonnes (Bt) at an average grade ranging between 28%

and 32% Fe of iron ore, in the form of magnetite Banded Iron Formations (BIF) over a 80km

strike line*.

SEMS Exploration commenced a second round of fieldwork in February 2012, comprising

infill geophysics over selected sites within Permit 792 and structural mapping of outcropping

BIF. The occurrence of BIF, as mapped by the British Geological Survey on their 1:200,000

scaled geological maps, has been verified and SEMS have identified several other BIF

occurrences on the eastern side of the Permit not previously published on these geological

maps including a 71km strike line of Fe BIF.

The results of the second round of fieldwork are expected to produce a more detailed

geological map of Permit 792 as well as identifying and setting a drill target program. We

have currently commenced discussions with prospective drilling contractors. On completion

of the drilling program the results will be compiled in a JORC compliant report for release to

the market identifying quantity and quality of the mineralisation for both hematite and

magnetite.

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* The Exploration Target is conceptual in nature, and there has been insufficient work completed to define it beyond exploration targets, and it is uncertain if further exploration will

result in the determination of a Mineral Resource. This is a conceptual exploration target which provides an indication of the potential in terms of tonnage and grade.

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The Magnetic Susceptibility reading was taken on a hand held

KT-10 Magnetic Susceptibility Meter.

The reading in the image is 935x10-3 SI which indicates the

presence of elevated levels of magnetite in the outcrop.

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Previously unmapped area of eastern end of

Permit 792 showing low BIF outcrops. Image

extracted from Google Earth GPS located

photographs.

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Previously unmapped area of Permit 792 eastern end showing BIF rubble and

subcrop with field staff conducting ground magnetic readings.

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BIF outcrop on eastern end of Permit 792 showing shallow dip and dunes in the

background.

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The Magnetic Susceptibility reading was taken on a hand held

KT-10 Magnetic Susceptibility Meter.

The reading in the image is 832x10-3 SI which indicates the

presence of elevated levels of magnetite in the outcrop.

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BIF outcrop on eastern end of Permit 792 showing shallow dipping bedding planes, at

the compass and the magnetic susceptibility meter (yellow instrument).

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BIF outcrop in eastern area of Permit 792 amongst sand

dunes.

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BIF subcrop and float in eastern area of Permit 792 recently

discovered by SEMS.

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View to east from 19⁰31’44”N / 14⁰00’51”W showing a series of ridges with massive

banded iron formation (BIF) forming the resistant dip-slope capping.

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Permit 791 – Cetal 791 Permit 791 is located in the Lebtheinia area adjacent to Sphere Minerals Ltd Permit 264

Cetal, the northern project of some 498km2.

Additional exploration works are planned for 791 in the second half of 2012.

− Sphere Mineral’s ore body is a

magnetite BIF

− Previous work by SNIM indicates large

resources of magnetite and hematite

ore

− Sphere Minerals Ltd reported 2.179Bt

indicated and 563Mt inferred resource*

− Includes a Blast Furnace pellet project

with access to SNIM’s iron ore railway

and port facilities

* Source: Sphere Minerals Ltd ASX announcement 20 Feb 2012

791

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Photograph of BIF capping at Cetal (791).

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Recent Mauritanian Iron Ore Transaction

Xstrata plc is one of the world’s largest global diversified mining businesses and Sphere

Minerals Limited is an ASX listed company with iron ore assets in Mauritania, West Africa.

From July 2010 to December 2011 Xstrata plc through its subsidiary Sidero Pty Ltd acquired

87.8% of Sphere Minerals Limited through an off market takeover bid at a total cost of

$558m.

In Sphere Minerals 2010 Annual Report the Summary of Mineral Resources as at 30

September 2010 in Mauritania showed 3.273Bn tonnes of iron which equates to cost of

$0.17 per tonne of iron ore.

The well regarded business and investment journal “The Eureka Report” reported in March

2012 that “The biggest story in iron ore is not that prices might be ‘toppish’, thanks to

slowing Chinese demand, but rather a remarkable re-rating of iron ore reserves.”

The Eureka Report states that undeveloped iron ore resources, until very recently, was

valued at about $1 a tonne but will now be valued at a range between $4 to $5.79 a tonne.

The Eureka Report 28 March 2012 article can be viewed in its entirety on our website

(www.charpac.com.au/?page_id=1033).

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Company Market Cap (A$m)

Asset(s) Country Resource Tonnes Resource Grade (Fe%)

Website

Sphere Minerals (ASX:SPH) Xstrata now own 87.8%

$635m Bou Derga, Tintekrate & Askar North

Mauritania 2.7Btn (adjacent to permit 791)

36.1%, 35.2% & 35.8%

www.xstrata.com

Sundance Resources Ltd (ASX:SDL)

$1,203m Mbalam Project

Cameroon & Republic of Congo

484Mt DSO 2.325Bt itabirite hematite

61.1% DSO 38.0% itabirite hematite

www.sundanceresources.com.au

Zanaga Iron Ore Company Ltd (AIM:ZIOC)

£200.5m Zanaga Republic of Congo 4.02Bt comprising a DSO cap over an hematite itabirite body

33.9% average www.zanagairon.com

Equatorial Resources Ltd (ASX:EQX)

$246m Badondo & Mayoko-Moussondji

Republic of Congo Targets of 0.7-1.2Bt high grade hematite, 2.9-4.9Bt itabirite hematite

Targets of 40-65% hematite, 30-45% itabirite

www.equatorialresources.com.au/

African Iron Ltd (ASX:AKI) Exxaro now own 90% & are acquiring remaining shares/options

$313m as at Mar 2012

Mayoko Republic of Congo 72Mt DSO target of 900-1,300Mt

56.0% www.exxaro.com

Waratah Resources Ltd (ASX:WGO)

$23.9m Youkou and Okanabora

Republics of Congo and Gabon

1.0Bt DSO (Avima) Up to 69.5% (Avima)

www.waratahresources.com.au

Peer Comparisons

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ASX: MRY

Investment 30%

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Highlights to date -

Recapitalised as resources company in March 2011 with 5 gold mining tenements near Kalgoorlie, Western Australia

– EL25/341, EL25/333, P37/7778, ELA25/460, ELA25/459

Acquired 3 gold permits covering 415km2 in western Burkina Faso, West Africa

Greenfields exploration, prospective for gold, targeting western extension to greenstone belt

Tight capital structure (includes acquisition consideration)

• 34.3m shares

• 16m options (unlisted)

• 2m performance shares

$2m cash (at 31 March 2012)

New projects continue to be evaluated

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WA gold mining tenements

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Burkina Faso

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ASX: FWA

Investment - 15%

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Specialist provider of rural products and services

Peers includes Elders, RuralCo and Landmark

Strong growth since inception in 2001

Sustainable competitive advantage

1,320 shareholders and 4,700 growers

FarmWorks Australia Limited

Conquest Crop Protection

Over 70 high quality crop protection products

Imports and manufactures via outsourcing partners

Wholesales to independent retail outlets throughout Australia

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Disclaimer

This presentation has been prepared by Charter Pacific Corporation Limited (Charter Pacific). It is not a disclosure document and should not be

considered as an offer or invitation to subscribe for, or purchase any securities in the Company or as an inducement to make an offer or invitation

with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

Charter Pacific has not audited or investigated the accuracy or completeness of the information contained in this presentation. Accordingly, to the

maximum extent permitted by applicable laws, Charter Pacific makes no representation and can give no assurance, guarantee or warranty,

express or implied, as to, and takes no responsibility and assumes no liability for, the authenticity, validity, accuracy, suitability or completeness of,

or any errors in or omission, from any information or statement contained in this presentation.

You should not act or refrain from acting in reliance on this presentation material. This overview of the Company does not purport to be all

inclusive or to contain all information which its recipients may require in order to make an informed assessment of Charter Pacific’s prospects.

You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the

information, statements and opinions contained in this presentation before making any investment decision.

Exploration Targets

The exploration targets presented are conceptual in nature and relates to defined exploration areas where outcrops and geophysical anomalies

have been identified but mineralisation has not been delineated. There has been insufficient exploration to define a Mineral Resource in these

areas and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Charter Pacific has an exploration strategy to systematically test these areas to determine if Mineral Resources are present.

Information in this presentation that relates to mineral resources is based on previous announcements made by Charter Pacific (or other relevant

parties) to the ASX.

This presentation does not constitute financial product advice (nor investment, tax, accounting or legal advice) and has been prepared without

taking account of any person’s investment objectives, financial situation or particular needs.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by David Selfe, who is a Member of The

Australasian Institute of Mining and Metallurgy (AusIMM). David Selfe is employed by Saewulf Geologica. Mr Selfe has sufficient experience

which 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 Selfe consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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