7 October 2008 Manager Announcements Company Announcements Office ASX Limited Level 4 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam Chairman Presentation to Resourceful Events - Iron Ore Day Conference Attached is a copy of a presentation by Territory Resources Chairman, Andrew Simpson, to the Resourceful Events - Iron Ore Day Conference being held today. Yours sincerely Patrick McCole Company Secretary

The reported reserves and resources in the Chairman’s Presenation are based on and accurately reflects information compiled by Mr. Ian Hassall who is a full time employee of Territory Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr Hassall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Hassall consents to the inclusion of the information in the form and context in which it appears.

Frances Creek currently has 10 million tonnes of inferred and indicated resources of which 2 million tonnes are inferred and 8 million tonnes are indicated. These resources are inclusive of the resources modified to produce the Company’s 5.6 million tonnes of probable ore reserves

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“Building Momentum: A Million Tonnes and BeyondInvestor Series: Iron Ore – 7 October 2008

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DisclaimerForward-Looking StatementsThis presentation contains forward looking statements concerning the projects owned by Territory Resources Limited. Statements concerning mining reserves and resources may also be deemed to be forward looking statements in that they involve estimates based on specific assumptions. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward looking statements are based on management’s beliefs, opinions and estimates as of the dates the forward looking statements are made and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.Data and amounts shown in this presentation relating to capital costs, operating costs and project timelines are internally generated best estimates only. All such information and data is currently under review as part of Territory Resources Limited’s ongoing development and feasibility studies. Accordingly, Territory Resources Limited cannot guarantee the accuracy and/or completeness of the figures or data included in the presentation until the feasibility studies are completed.

Competent Person’s StatementThe information in this presentation that relates to Exploration Results and Mineral Resources is based on and accurately reflects information compiled by Mr Ian Hassall, who is a full time employee of Territory Resources Limited and a Member of the Australasian Institute of Mining and Metallurgy. Mr Hassall has sufficient experience which is relevant to the style of mineralisation and the type of deposits 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 Hassall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

JORC – Exploration TargetsIt is common practice for a company to comment on and discuss its exploration in terms of target size and type. The information in this presentation relating to exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. Hence the terms Resource(s) or Reserve(s) have not been used in this context. The potential quantity and grade is conceptual in nature, since there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in the determination of a Mineral Resource.

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Overview

Growing, independent Australian iron ore companyFrances Creek operations, Northern TerritoryHigh quality infrastructure – Mine, Rail, Port1 millionth tonne of high-grade ore to be shipped in first half of OctoberRamp-up to annualised 2Mtpa production by December 2008 on trackSignificant operational improvementsStrong exploration focus – A$8.5M budget 2008/09

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A Powerful Board30 years of corporate and commodities marketing experience.Chairman of India Resources and Swick Mining Services.

ANDREW SIMPSON(Chairman)

Qualified metallurgist with 30 years experience in mining operations. Former Operations Director of Consolidated Minerals.

ALLAN QUADRIO(Managing Director)

More than 40 years experience in physical commodities trading. Founder and CEO of Noble Group – global supply chain business with more than 100 offices in over 40 countries & more than 4,000 customers.

RICHARD ELMAN(Non Exec. Director)

Chartered Accountant, former Partner, KPMG Peat Marwick, Professional Independent Company Director for past 12 years.

FIONA HARRIS(Non Exec. Director)

Experienced geologist with experience in gold, nickel, base metals and diamonds. Former Exploration Executive with Ashton Mining Limited, Western Mining Corporation.

MIKE DONALDSON(Non Exec. Director)

JOE ARITI(Non Exec. Director)

IAN McCUBBING(Executive Director)

Strong experience in CFO / senior finance roles in ASX listed industrial & mining companies.

Metallurgist with 20 years exp. in development & management of mining projects. GM – Projects for Cape Lambert Iron Ore & Non-Exec. Director of Azumah Resources Ltd., ABM Resources NL & Swick Mining Services Ltd.

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Corporate Overview

Top 20 Shareholders

26.5%Major Shareholders:

A$87 million

Crawley Resources

Market CapitalisationTTY (S&P ASX 300)ASX Code

264.6 millionShares on Issue

60%

11.0%OM Holdings Limited10.7%DCM Decometal

4.4%Zero Nominees Pty Ltd

27.4%Investments:Matilda Minerals Limited (ASX: MAL)

73.5%Olympia Resources Limited (ASX: OLY)12.0%India Resources Limited (ASX: IRL)19.9%Monarch Gold Mining Company Limited (ASX: MON)

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“Breaking the Barriers” – Ticking the Boxes

Markets – security of incomeProduction – ability to take advantage of strong demand & prices NOWAccess to Rail – low-cost transportAccess to Port – ship-loading ability & proximity to Chinese market Resources – commitment to explorationGrowth – increasing production and driving down costsF

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Markets: Global Steel Growth ContinuingDemand for carbon steel materials remains strongGlobal steel consumption forecast to rise 6.7% to 1.3 billion tonnes in 2008Growth underpinned by China supported by Russia, Brazil and IndiaChina’s apparent steel use forecast to increase by 10.5% in 2008 and 10.0% in 2009India’s apparent steel use forecast to increase by 8.9% in 2008 and 12.1% in 2009Notwithstanding the global credit crisis, demand for iron ore is continuing to grow…

Source: Macquarie Bank, International Iron & Steel Institute, BBY

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Markets: The Iron Ore Outlook

Cumulative price increase of ~230% since 2000 Significant opportunity for existing / new producersTotal seaborne demand forecast to increase to 959Mt in 2009 and 1.3 billion tonnes by 2012Strong supply side response – but constrained by costs, labour, infrastructure bottlenecksGrowing freight differential – Australia vs BrazilSeaborne ore trade expected to remain strong in the long term as freight rates come down:

Growing at compound rate of 8% per annumSource: Macquarie Bank, International Iron & Steel Institute, BBY

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Markets: A Strong, Experienced Partner

Hong Kong-based, Singapore listed Noble Group (SGX:NOBL) Global commodity business – 100 offices, 40 countries, 4,000 customers25 years trading experience in ChinaTrades 20mtpa of iron ore & 20mtpa of coalExclusive marketing agreementCompetitive logistics pricing – own charter fleetAs Territory’s major shareholder brings corporate and marketing supportF

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Production: Frances Creek Iron Ore Mine

High-margin hematite projectQuality DSO product:

Lump – 61.5% Fe (50%)Fines – 59.5% Fe (50%)

Ramp-up on schedule to 2.0Mtpa by Dec 08Targeting 2.5Mtpa in 2009Indicated and Inferred Resources 10Mt @ 60.47% FeProbable Ore Reserve 5.6Mt @ 61.3% FeCurrent mine life 4-5 years

Frances CreekFrances Creek

Mount BundeyMount Bundey

WarregoWarrego

YarramYarram

BatchelorBatchelor

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Production: Ramp-up On Track

640,000 tonnes shipped in 20007/08:365,000t of lump ore275,000t of fines

Average cash operating cost of A$66/t for an average cash margin of A$22/t1 millionth tonne to be shipped through Port of Darwin in first half of October 2008Budget 2.0 million tonnes for 2008/09 at average cash operating cost of A$60/tTargeting 2.5Mtpa annualised by mid-2009F

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Production: Operational Improvements

Third mining fleet deployed to increase productionMine plan rebalancedHaul roads to rail siding being upgradedMobile wet processing plant introduced to improve product yield and quality during the 2008/09 wet season$15M permanent wet processing plant to be commissioned in 2H 2009Aim to drive operating costs below A$60/t in 2009F

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Infrastructure: Access to Rail

Mine site just 15km from Alice Springs-to-Darwin railway lineBulk haulage services provided by FreightLinkSeven dedicated round-trip services per week (2,600t per train) – increasing to 4,000t per trainOnly two other mineral company users (Bootu Creek, Prominent Hill)No capacity constraints

Frances CreekFrances Creek

Mount BundeyMount Bundey

WarregoWarrego

YarramYarram

BatchelorBatchelor

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Infrastructure: Access to Port

Darwin Port recently refurbished –A$200M East Arm port facilitiesExcellent port infrastructure – only two usersSeamless integration with rail link Iron ore berth caters for up to 75,000 tonne vessels, draught dependentA$8 million allocated to increase Territory’s stockpile capacity to 420,000 tonnesAustralia’s closest port to China –seven days’ sailing

Frances CreekFrances Creek

Mount BundeyMount Bundey

WarregoWarrego

YarramYarram

BatchelorBatchelor

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Resources: Exploration Commitment

Current reserves sufficient for 4-5 year mine lifeMinimal historical explorationMajor focus on exploration to drive resource growth:

A$8.5M commitment for 2008/09>100,000m of RC drilling underway for 2008 –two rigsFocus on near-mine targets and existing deposits –Thelma 1, Jasmine West, Helene 6/7, Helene 8 and Helene 5Exploration to drive resource growth – aiming to double resources to 20Mt within two yearsF

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Resources: Key Deposits and Targets

Targeting 12-14km of strikeDrilling supported by mapping and results of extensive airborne EM survey (2007)>10,000m completed to dateResource assessments underway for Helene 11, Jasmine West, Jasmine Central, Helene 5 and Helene 6/7F

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2008 Financial Results – “A New Chapter”

-4.5Underlying Loss ($M)

44.0Subtotal-1.90.8-2.7Sale of tenements and financial assets2.1-0.93.0One-off corporate expenses

43.82.92.9Impairment – Societe Generale deposit4.64.6Impairment – Matilda investment 1.01.0Impairment – Monarch interest & rent

16.816.8Impairment – Monarch Loans18.518.5Impairment – Monarch investment

-48.5Reported Profit/(Loss) (NPAT)$M$M$MNetTaxGross

-0.144.1For

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2008 Financial Results – “A New Chapter”

Bottom line loss includes significant asset impairments and one-off items associated with previous broad diversification strategyUnderlying loss of $4.5M based on total revenue of $60.4MReflects higher unit cash costs and Capex during the start-up phase2008 underlying loss not reflective of expected performance moving forwardFocus on core iron ore business re-affirmedReviewing all external investmentsF

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Summary: Territory “Breaking the Barriers”

1 millionth tonne to be shipped in first half of October 2008Continued production growth & optimisationIncrease production to sustainable 2.5Mtpa by 2009Drive down operating costs to below A$60/tonneAiming to double the resource base to ~20Mt within two years Achieve 10 year mine lifeA strong base for growth and increasing shareholder valueF

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“Building Momentum: A Million Tonnes and BeyondInvestor Series: Iron Ore – 7 October 2008

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