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Sample	
  from	
  the	
  T17	
  vein	
  –	
  188	
  g/t	
  of	
  gold,	
  103	
  g/t	
  of	
  silver	
  and	
  5.07%	
  of	
  copper	
  

                                                                                                                                                                                                             	
  

The	
  European	
  Explorer	
  	
  	
  │	
  	
  February	
  2013	
  




                                                                                                                       Patrick	
  F.	
  N.	
  Anderson	
  
                                                                                                                                                                  	
  
                                                                                                                                         Chief	
  Execu8ve	
  Officer	
  
Forward-­‐Looking	
  Statement	
  &	
  Qualified	
  Persons	
  


This	
  presenta8on	
  contains	
  “forward‑looking	
  informa8on”	
  which	
  may	
  include,	
  but	
  is	
  not	
  limited	
  to,	
  statements	
  with	
  respect	
  to	
  the	
  comple8on	
  of	
  the	
  acquisi8on	
  (the	
  “Acquisi8on”)	
  by	
  the	
  Company	
  from	
  a	
  
group	
   of	
   private	
   vendors	
   of	
   approximately	
   1.7	
   million	
   hectares	
   of	
   mineral	
   rights	
   over	
   four	
   greenstone	
   belts	
   and	
   a	
   historic	
   silver	
   mining	
   camp	
   in	
   Norway,	
   future	
   financial	
   or	
   opera8ng	
   performance	
   of	
   the	
  
Company	
  and	
  its	
  mineral	
  projects,	
  the	
  future	
  price	
  of	
  metals,	
  the	
  es8ma8on	
  of	
  mineral	
  resources,	
  the	
  realiza8on	
  of	
  mineral	
  resource	
  es8mates,	
  the	
  8ming	
  and	
  amount	
  of	
  es8mated	
  future	
  produc8on,	
  costs	
  of	
  
produc8on,	
   capital,	
   opera8ng	
   and	
   explora8on	
   expenditures,	
   costs	
   and	
   8ming	
   of	
   the	
   development	
   of	
   new	
   deposits,	
   costs	
   and	
   8ming	
   of	
   future	
   explora8on,	
   requirements	
   for	
   addi8onal	
   capital,	
   government	
  
regula8on	
   of	
   mining	
   opera8ons,	
   environmental	
   risks,	
   reclama8on	
   expenses,	
   8tle	
   disputes	
   or	
   claims	
   and	
   limita8ons	
   of	
   insurance	
   coverage.	
   OYen,	
   but	
   not	
   always,	
   forward‑looking	
   statements	
   can	
   be	
   iden8fied	
  
by	
  the	
  use	
  of	
  words	
  and	
  phrases	
  such	
  as	
  “plans,”	
  “expects,”	
  “is	
  expected,”	
  “budget,”	
  “scheduled,”	
  “es8mates,”	
  “forecasts,”	
  “intends,”	
  “an8cipates,”	
  or	
  “believes”	
  or	
  varia8ons	
  (including	
  nega8ve	
  varia8ons)	
  of	
  
such	
  words	
  and	
  phrases,	
  or	
  state	
  that	
  certain	
  ac8ons,	
  events	
  or	
  results	
  “may,”	
  “could,”	
  “would,”	
  “might”	
  or	
  “will”	
  be	
  taken,	
  occur	
  or	
  be	
  achieved.	
  

Forward-­‐looking	
  statements	
  are	
  based	
  on	
  the	
  opinions	
  and	
  es8mates	
  of	
  management	
  as	
  of	
  the	
  date	
  such	
  statements	
  are	
  made	
  and	
  are	
  based	
  on	
  various	
  assump8ons,	
  such	
  as	
  approvals	
  from	
  the	
  Toronto	
  
Stock	
   Exchange	
   and	
   the	
   Norwegian	
   Directorate	
   of	
   Mining	
   will	
   be	
   obtained	
   in	
   respect	
   of	
   the	
   Acquisi8on,	
   the	
   con8nued	
   poli8cal	
   stability	
   in	
   Northern	
   Ireland	
   and	
   Norway,	
   that	
   permits	
   required	
   for	
   the	
  
Company’s	
  opera8ons	
  will	
  be	
  obtained	
  in	
  a	
  8mely	
  basis	
  in	
  order	
  to	
  permit	
  the	
  Company	
  to	
  proceed	
  on	
  schedule	
  with	
  its	
  planned	
  drilling	
  programs,	
  that	
  skilled	
  personnel	
  and	
  contractors	
  will	
  be	
  available	
  as	
  the	
  
Company’s	
   opera8ons	
   con8nue	
   to	
   grow,	
   that	
   the	
   price	
   of	
   gold	
   will	
   be	
   at	
   levels	
   that	
   render	
   the	
   project	
   economic,	
   or	
   that	
   the	
   Company	
   will	
   be	
   able	
   to	
   con8nue	
   raising	
   the	
   necessary	
   capital	
   to	
   finance	
   its	
  
opera8ons	
  and	
  realize	
  on	
  mineral	
  resource	
  es8mates,	
  and	
  that	
  the	
  assump8ons	
  contained	
  in	
  the	
  Preliminary	
  Economic	
  Assessment	
  rela8ng	
  to	
  the	
  Curraghinalt	
  Deposit	
  are	
  accurate	
  and	
  complete.	
  	
  

Forward‑looking	
  statements	
  involve	
  known	
  and	
  unknown	
  risks,	
  uncertain8es	
  and	
  other	
  factors	
  which	
  may	
  cause	
  the	
  actual	
  results,	
  performance	
  or	
  achievements	
  of	
  the	
  Company	
  to	
  be	
  materially	
  different	
  
from	
   any	
   future	
   results,	
   performance	
   or	
   achievements	
   expressed	
   or	
   implied	
   by	
   the	
   forward‑looking	
   statements.	
   Such	
   factors	
   include,	
   among	
   others,	
   general	
   business,	
   economic,	
   compe88ve,	
   poli8cal	
   and	
  
social	
  uncertain8es;	
  the	
  actual	
  results	
  of	
  current	
  and	
  future	
  explora8on	
  ac8vi8es;	
  actual	
  results	
  of	
  reclama8on	
  ac8vi8es;	
  conclusions	
  of	
  economic	
  evalua8ons;	
  changes	
  in	
  project	
  parameters	
  and/or	
  economic	
  
assessments	
   as	
   plans	
   con8nue	
   to	
   be	
   refined;	
   future	
   prices	
   of	
   metals;	
   possible	
   varia8ons	
   of	
   mineral	
   grade	
   or	
   recovery	
   rates;	
   the	
   risk	
   that	
   actual	
   costs	
   may	
   excel	
   es8mated	
   costs;	
   failure	
   of	
   plant,	
   equipment	
   or	
  
processes	
   to	
   operate	
   as	
   an8cipated;	
   accidents,	
   labour	
   disputes	
   and	
   other	
   risks	
   of	
   the	
   mining	
   industry;	
   poli8cal	
   instability;	
   delays	
   in	
   obtaining	
   governmental	
   approvals	
   or	
   financing	
   or	
   in	
   the	
   comple8on	
   of	
  
development	
  or	
  construc8on	
  ac8vi8es,	
  as	
  well	
  as	
  those	
  factors	
  discussed	
  in	
  the	
  sec8on	
  en8tled	
  “Risk	
  Factors”	
  in	
  the	
  Company’s	
  Annual	
  Informa8on	
  Form.	
  	
  

Although	
  the	
  Company	
  has	
  abempted	
  to	
  iden8fy	
  important	
  factors	
  that	
  could	
  cause	
  actual	
  ac8ons,	
  events	
  or	
  results	
  to	
  differ	
  materially	
  from	
  those	
  described	
  in	
  forward‑looking	
  statements,	
  there	
  may	
  be	
  
other	
  factors	
  that	
  cause	
  ac8ons,	
  events	
  or	
  results	
  to	
  differ	
  from	
  those	
  an8cipated,	
  es8mated	
  or	
  intended.	
  Forward‑looking	
  statements	
  contained	
  herein	
  are	
  made	
  as	
  of	
  the	
  date	
  of	
  this	
  presenta8on	
  and	
  the	
  
Company	
  disclaims	
  any	
  obliga8on	
  to	
  update	
  any	
  forward‑looking	
  statements,	
  whether	
  as	
  a	
  result	
  of	
  new	
  informa8on,	
  future	
  events	
  or	
  results,	
  except	
  as	
  may	
  be	
  required	
  by	
  applicable	
  securi8es	
  laws.	
  There	
  
can	
  be	
  no	
  assurance	
  that	
  forward‑looking	
  statements	
  will	
  prove	
  to	
  be	
  accurate,	
  as	
  actual	
  results	
  and	
  future	
  events	
  could	
  differ	
  materially	
  from	
  those	
  an8cipated	
  in	
  such	
  statements.	
   	
  Accordingly,	
  readers	
  
should	
  not	
  place	
  undue	
  reliance	
  on	
  forward‑looking	
  statements.	
  

Some	
  technical	
  data	
  in	
  this	
  presenta8on	
  was	
  taken	
  from	
  the	
   	
  technical	
  report	
  en8tled	
  “An	
  Updated	
  Mineral	
  Resource	
  Es8mate	
  for	
  the	
  Curraghinalt	
  Gold	
  Deposit,	
  Tyrone	
  Project,	
  County	
  Tyrone	
  and	
  County	
  
Londonderry,	
   Northern	
   Ireland 	
   dated	
   January	
   10,	
   2012,	
   prepared	
   by	
   B.	
   Terrence	
   Hennessey,	
   P.Geo.,	
   and	
   Dibya	
   Kan8	
   Mukhopadhyay,	
   M.Sc.,	
   MAusIMM,	
   of	
   Micon	
   Interna8onal	
   Limited	
   (the	
   Technical	
  
Report ).	
  

Michele	
  L.	
  Cote,	
  MSc.,	
  P.	
  Geo.,	
  Dalradian	
  Resources,	
  is	
  the	
  Qualified	
  Person	
  who	
  supervised	
  the	
  prepara8on	
  of	
  the	
  explora8on	
  technical	
  data	
  for	
  in	
  this	
  presenta8on.	
  

The	
   technical	
   informa8on	
   contained	
   in	
   this	
   news	
   release	
   is	
   based	
   upon	
   informa8on	
   prepared	
   by	
   Messrs.	
   Hennessey,	
   Jacobs,	
   Villeneuve,	
   Damjanović	
   and	
   Foo	
   of	
   Micon	
   Interna8onal	
   Ltd.,	
   who	
   are	
   each	
   a	
  
Qualified	
  Person	
  as	
  defined	
  by	
  NI	
  43-­‐101.	
  Messrs.	
  Hennessey,	
  Jacobs,	
  Villeneuve,	
  Damjanović	
  and	
  Foo	
  are	
  independent	
  of	
  Dalradian	
  as	
  defined	
  by	
  NI	
  43-­‐101.	
  

	
  

	
  

	
  

                                                                                                                                                                                                                                                                                                                                                      2
Capital	
  Structure	
  


   TSX,	
  OTCQX:	
                              DNA,	
  DRLDF	
         STOCK	
  PRICE	
  

   Shares	
  outstanding:	
                      89.5	
  million	
                                                                                                                                                                                                         $1.33
   Fully	
  diluted	
  :	
                       97.5	
  million	
  
                                                                                                                                                                                                                                       January 29, 2013
   (January	
  17,	
  2013)	
  
                                                                                                                                                                                                                                                                                                                                                   $24.00	
  
   Market	
  cap:	
                              $119.1	
  million	
  
                                                                           $2.00	
  
   (January	
  29,	
  2013)	
  
                                                                                                                                                                                                                                                           DNA	
                                                                                   $22.00	
  
   Average	
  volume:	
                          62,039	
  
   (30	
  day)	
  
                                                                           $1.50	
                                                                                                                                                                                                                                                                 $20.00	
  
   Aug	
  2010	
  IPO	
  @	
  $1.50	
         $39.1	
  million	
  
   Feb	
  2012	
  Financing	
  @	
  $2.00	
   $27.8	
  million	
                                                                                                                                                                                                                                                                                   $18.00	
  
   Insider	
  ownership:	
                       6%	
                      $1.00	
  
   (approximate)	
                                                                                                                                                                                                                                                                                                                                 $16.00	
  

   Cash	
  balance:	
                            $28.9	
  million	
  
   (as	
  at	
  September	
  30,	
  2012)	
                                                                                                                                                                                                                                                                                                        $14.00	
  
                                                                           $0.50	
  
                                                                                                                                                                                                                                                  BMO	
  Junior	
  
                                                                                                                                                                                                                                                  Gold	
  Index	
  ETF	
                                                                           $12.00	
  
                                                 John	
  Hayes	
  
                                                 	
                        $0.00	
                                                                                                                                                                                                                                                                 $10.00	
  
   Analyst	
  coverage:	
  
                                                                                       Dec	
  2011	
  




                                                                                                                                                                                                                                                                                                               Dec	
  2012	
  
                                                                                                         Jan	
  2012	
  




                                                                                                                                                                                                   Jun	
  2012	
  
                                                                                                                                                                                                                     Jul	
  2012	
  
                                                                                                                           Feb	
  2012	
  
                                                                                                                                             Mar	
  2012	
  




                                                                                                                                                                                                                                       Aug	
  2012	
  
                                                                                                                                                                                                                                                         Sep	
  2012	
  




                                                                                                                                                                                                                                                                                                                                 Jan	
  2013	
  
                                                                                                                                                               Apr	
  2012	
  




                                                                                                                                                                                                                                                                                             Nov	
  2012	
  
                                                                                                                                                                                                                                                                           Oct	
  2012	
  
                                                                                                                                                                                 May	
  2012	
  
                                                 Jamie	
  Sprab	
  
                                                 	
  
                                                 Craig	
  Stanley	
  


All	
  dollars	
  quoted	
  in	
  $	
  CAD	
                                                                                                                                                                                                                                                                                                                    3
The	
  Board:	
  A	
  Track	
  Record	
  of	
  Discovery	
  and	
  Development	
  


 PATRICK	
  F.	
  N.	
  ANDERSON	
                                              KEITH	
  D.	
  MCKAY	
  
 CHIEF	
  EXECUTIVE	
  OFFICER	
                                                CHIEF	
  FINANCIAL	
  OFFICER	
  
 Former	
  CEO	
  of	
  Aurelian	
  Resources	
  	
                             Former	
  CFO	
  of	
  Aurelian	
  Resources	
  	
  
 Also	
  Director	
  of	
  Connental	
  Gold	
  	
  




 COLIN	
  K.	
  BENNER	
                                                        THOMAS	
  J.	
  OBRADOVICH	
  
 CHAIRMAN	
  OF	
  DELTA	
  MINERALS	
  AND	
  AURICO	
  GOLD	
                 CHAIRMAN	
  	
  
 Also	
  Director	
  of	
  Mercator	
  Minerals,	
  Lundin	
  Mining,	
  	
     Chairman	
  of	
  Lago	
  Dourado	
  Minerals	
  
                                                                                Former	
  CEO	
  of	
  Young-­‐Davidson	
  Mines	
  
                                                                                Former	
  Director	
  of	
  Aurelian	
  Resources	
  


 JOSEPH	
  F.	
  CONWAY	
                                                       SEAN	
  E.	
  O.	
  ROOSEN	
  
 CEO	
  OF	
  PRIMERO	
  MINING	
  CORP.	
                                      CEO	
  OF	
  OSISKO	
  MINING	
  CORPORATION	
  
 Former	
  CEO	
  of	
  IAMGOLD	
                                               Also	
  Director	
  of	
  Astur	
  Gold	
  




 RONALD	
  P.	
  GAGEL	
                                                        ARI	
  B.	
  SUSSMAN	
  
 Former	
  SVP	
  and	
  CFO	
  of	
  FNX	
  Mining	
                           CEO	
  OF	
  CONTINENTAL	
  GOLD	
  LIMITED	
  



                                                                                                                                        4
Targeng	
  High-­‐Grade	
  Deposits	
  in	
  Low	
  Risk	
  Jurisdicons	
  



         NORTHERN	
  IRELAND	
  
       §        Posi8ve	
  PEA	
  
       §        High-­‐grade	
  2.7M	
  ounce	
  gold	
  resource	
  
                 (all	
  categories)1	
                                                                                                                                                    Norway	
  
                    −  Measured:	
  0.02	
  MT	
  grading	
  21.51	
  g/t	
  Au	
  
                       for	
  10,000	
  contained	
  ounces	
  
                    −  Indicated:	
  	
  1.11	
  MT	
  grading	
  12.84	
  g/t	
  Au	
  
                       for	
  460,000	
  contained	
  ounces	
  
                    −  Inferred:	
  	
  5.45	
  MT	
  grading	
  12.74	
  g/t	
  Au	
  for	
                                     Northern	
  
                       2.23	
  million	
  contained	
  ounces	
                                                                  Ireland	
  
       §        Ac8ve	
  drilling	
  &	
  explora8on	
  


         NORWAY	
  
      §        1.3	
  M	
  hectares	
  of	
  explora8on	
  permits	
  
      §        Over	
  15	
  precious	
  metals	
  targets	
  iden8fied	
  in	
  
                2012	
  season	
  


1	
  Refer	
  to	
  press	
  release	
  dated	
  Nov.	
  30,	
  2011	
  en8tled	
  “Dalradian	
  Announces	
  Resource	
  Increase	
  at	
  Curraghinalt”	
  at	
  www.dalradian.com	
                  5
Northern	
  Ireland	
  	
  

§  Our	
  flagship	
  asset:	
  Curraghinalt	
  mesothermal	
                                                                                                                                        Gold	
  
    high-­‐grade	
  gold	
  deposit	
                                                                                                                                                                Base	
  Metals	
  
                                                                                                                                                                                                     Salt	
  Mine	
  
§  Excellent	
  regional	
  infrastructure	
  
                                                                                                                                                                                               Scotgold	
  
§  Over	
  84,000	
  hectares	
  under	
  license	
                                                                                                                                           Permibed	
  in	
  2012	
  

§  Recent	
  discoveries	
  demonstrate	
  untapped	
  
                                                                                                                                                                                                  Underground	
  
                                                                                                                                                             Cononish	
  
    poten8al	
                                                                                       Conroy	
                                                                                     Salt	
  Mine	
  
                                                                                                     +1M	
  ounce	
  resource	
  

                                      NORTHERN	
  
                                                                                                      Curraghinalt	
  
                                      IRELAND	
  

                                                                                   Galantas	
  Gold	
  
    Curraghinalt	
                     Lonmin	
  
                                                                                   Permibed	
  in	
  2007	
  
                                                                                                                Cavanacaw	
                   Clonbret	
  
                                                                                                                                                                    Boliden	
  
                                                                                                                                                                    In	
  produc8on	
  
                                                                                        Croagh	
  Patrick	
  
                                                         Irish	
  Salt	
                                                                 Tara	
                   Parys	
  Mountain	
  
                                                         Mining	
            Vedanta	
  Resources	
  
                                                                             In	
  produc8on	
                                  Galmoy	
         Avoca	
  
              Gor8n	
  
                                                                                                         Silvermines	
                                                  Gwynfynydd	
  
                                                                                                         Pallas	
  Green	
      Lisheen	
  
    Cavanacaw	
  
    Galantas	
            Omagh	
                            BELFAST	
                                                                                          IMC	
  Discovery	
  
    Gold	
                                                                           Allihies	
  Copper	
                                                       354	
  g/t	
  gold	
  over	
  1.5m	
  
                                                                                     Mines	
  
                                         Conroy	
                                                                              Lundin	
  
                                         Diamonds	
  
                                         &	
  Gold	
                                                       Xstrata	
           In	
  produc8on	
  
                                                                                                           PFS	
  
                                                                                                                                    South	
  Cro_y	
  


                                                                                                                                                                                                                            6	
  
Acve	
  Resource	
  Industry	
  




                                                                                                                                                   Curraghinalt	
  



   Logging	
  at	
  Gor8n	
  Glen	
  Forest	
  Park	
  
                                                                                            Curraghinalt	
  Adit	
  Construc8on	
  




                                                                                      Curraghinalt	
  
                         Gorn	
  




                             DG3	
  


                                                                                                                                      Alwories	
  Quarry	
  


        0       1        2
            kilometres



                                                          Greencastle	
  Quarry	
  
                                                                                                                                                                  7
Curraghinalt	
  2012	
  

  2012	
  
  Q1	
                                                                         Q2	
                                                        Q3	
                                                                  Q4	
  
     JAN	
                    FEB	
                    MAR	
                       APR	
     MAY	
                  JUN	
                      JUL
                                                                                                                                                 	
               AUG	
                   SEP	
                     OCT	
                 NOV	
                          DEC	
  


                                                                                               Posive	
  PEA	
  
                                                  Curraghinalt	
  Drilling:	
                                                                                                                                                           More	
  Alwories	
  Intercepts:	
  
                                                                                                                                                                        Alwories	
  discovery	
  
 $28.2	
  million	
  bought	
                     •  3.35m	
  @	
  13.80	
  g/t	
  Au	
        Completes	
  airborne	
                                                  1.47m	
  @	
  23.62	
  g/t	
  Au	
                              •  1.22m	
  @	
  25.14	
  g/t	
  Au	
  
 deal	
  financing	
                               •  3.75m	
  @	
  10.43	
  g/t	
  Au	
        geophysical	
  survey	
                                                  2.22m	
  @	
  14.07	
  g/t	
  Au	
                              •  1.28m	
  @	
  30.58	
  g/t	
  Au	
  
 announced	
                                      •  1.48m	
  @	
  22.83	
  g/t	
  Au	
  
                                                                                                  Water	
  discharge	
                                                                         C-­‐veins	
  show	
  wall	
     Curraghinalt	
  Drilling:	
  
                                                                                                  permit	
  in	
  hand	
  
                       Micon	
  appointed	
  as	
                                                                                                                                              rock	
  carry	
  gold	
         •  2.34m	
  @	
  47.94	
  g/t	
  Au	
  
                       lead	
  consultant	
  for	
  PEA	
  
                                                                                                                                                                                                                               •  3.97m	
  @	
  38.00	
  g/t	
  Au	
  
                                                                                                                             Soil	
  geochem	
  grid	
  
                                                                                                                                                                            43-­‐101	
  Technical	
  
                                                                                                                             iden8fies	
  new	
  targets	
  	
  
                                                                                                                                                                            Report	
  filed	
  
                                                                                                                                                                                                                                            Curraghinalt	
  Drilling:	
  
                                                                                                                                                                                                                                            •  1.7m	
  @	
  17.55	
  g/t	
  Au	
  
  2013	
                                                                                                                                                                                                                                    •  2.47m	
  @	
  18.99	
  g/t	
  Au	
  

  Q1	
  
     JAN	
                    FEB	
  




 2013	
  Explora8on	
  
 Program	
  Announced	
  


                           Fallagh	
  Prospect	
  	
  
                           announced	
  with	
  float	
  
                           samples	
  of:	
  
                           •  30.30	
  g/t	
  Au	
  
                           •  29.20	
  g/t	
  Au	
  
Exploraon	
  




                 9
Surface	
  Exploraon	
  




                            10
Cross	
  Secon	
  12-­‐CT-­‐156	
  


       CROSS-­‐SECTION	
  A	
  –	
  A’	
  



                                             Adit	
  




                                                        11
2012	
  Drill	
  Program	
  Highlights	
  

        A	
  Growing	
  Resource	
  




                                                                                                                                 12
                                       Approximately	
  26,000	
  metres	
  drilled	
  since	
  last	
  resource	
  update	
  
C	
  Veins	
  –	
  Potenal	
  to	
  Expand	
  the	
  Resource	
  


§  Assembled	
  80	
  km	
  of	
  historic	
  core	
  
    in	
  a	
  modern	
  facility	
  
§  Most	
  was	
  found	
  unsampled	
  
§  Iden8fied	
  a	
  mineralized	
  oblique	
  
    vein	
  set	
  




                                                          Dalradian	
  Gold	
  Omagh,	
  	
  
13                                                                      Core	
  Facility	
  
                                                                                                13
§  Evalua8ng	
  the	
  poten8al	
  contribu8on	
  to	
  the	
  resource	
  at	
  Curraghinalt	
  

         ‘Resource’	
  or	
  ‘D’	
  Vein	
          Newly	
  idenfied	
  ‘C’	
  Vein	
  




                                                          Plan	
  View	
  Looking	
  North	
  




14                                                                                               600	
  m	
  hole	
  yielded	
  over	
  1000	
  	
  veinlets	
  
                                                                                                                                                                   14
Not	
  a	
  Trend	
  but	
  a	
  District	
  


  GLACIATED	
  TERRAIN	
  WITH	
  MINIMAL	
  OUTCROP	
  


                                                                   Golan	
  Burn	
  
                                                                   Outcropping	
  veins	
  including	
  
                                                                   60cm	
  @	
  61.43	
  g/t	
  Au	
  
                                                                                                                                                                                                                                   Ajagh	
  Burn	
  
                                                                                                                                                                                                                                   2.47m	
  @	
  18.99	
  g/t	
  Au	
  

                                                                                                                                           8	
  km
        Curraghinalt	
                                                                                                                             	
                                                                                               400	
  m	
  Step-­‐out	
                        Alwories	
  Discovery	
  Holes	
  
            Deposit	
                                                                                                                                                                                                                               3.2m	
  @	
  5.34	
  g/t	
  Au	
                1.47m	
  @	
  23.6	
  g/t	
  Au	
  
                                                                                                                                                                                                                                                                                                    2.22m	
  @	
  14.1	
  g/t	
  Au	
  
Curraghinalt	
                                                                                                                                                                                                                                                                                      4.72m	
  @	
  14.82	
  g/t	
  Au	
  
Trend	
                                                                                             Scotch	
  Town	
  
                                                                                                    Peak	
  of	
  10.52	
  g/t	
  Au	
  
                                                                                                    In	
  mineralized	
  boulders	
  

                                                                   	
  
                                                                   “Fallagh”	
  New	
  Au	
  Prospect	
  
                                                                                                                                                                                                                                                                                                          1700
                                                                   	
  	
  30.30	
  g/t	
  Au,	
  	
  	
  	
                                                                                                                                                                                                  m	
  
                                                                   	
  	
  29.20	
  g/t	
  Au	
  &	
  
                                                                                                                                                 Curraghinalt	
  Deposit	
  
                                                                   	
  	
  17.25	
  g/t	
  Au	
  	
  in	
  Float	
                               Resource	
  as	
  at	
  Nov	
  2011	
  –	
  
                                                                   	
                                                                            Measured:	
  0.01	
  Moz	
  Au	
  
                                                                                                                                                 	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (0.02MT	
  @	
  21.51	
  g/t)	
  
                                                                                                                                                 Indicated:	
  0.46	
  Moz	
  Au	
  
                         Curraghinalt	
  Trend                                                                                                   	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (1.11MT	
  @	
  12.84	
  g/t)	
  
                         Veins	
  in	
  Current	
  Resource                                                                                                                                                                                                                          Alwories	
  
                                                                                                                                                 Inferred:	
  2.23	
  Moz	
  Au	
                                                                                                    1.88	
  m	
  @	
  20.8	
  g/t	
  Au	
  in	
  
                         Interpreted	
  Veins
                         Historic	
  Findings                                                                                                    	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  (5.45	
  MT	
  @	
  12.74	
  g/t)	
                 vein	
  in	
  quarry	
  




Intercept	
  in	
  hole	
  11-­‐CT-­‐99	
  projected	
  up	
  dip	
  to	
  170m	
  mSL	
                                                                                                                                                                                                                                                   15
Exploraon	
  Summary	
  



§  In	
  the	
  last	
  2	
  years…	
  
         –  >4-­‐fold	
  increase	
  in	
  contained	
  ounces	
  

         –  Implemented	
  a	
  modern	
  explora8on	
  organiza8on	
  

§  Deposit	
  is	
  open	
  in	
  all	
  direc8ons	
  

§  Successfully	
  mapping	
  high	
  grade	
  shoots	
  

§  “C”	
  veinlet	
  swarms,	
  a	
  game	
  changer…	
  
         –  Reduce	
  dilu8on	
  

         –  Stand-­‐alone	
  ounces?	
  

         –  Poten8al	
  for	
  alterna8ve	
  mining	
  methods	
  

§  Big	
  trend	
  &	
  excellent	
  explora8on	
  tools	
  	
  

§  Clear	
  strategy,	
  competent	
  team	
  

	
  
                                                                          16
Preliminary	
  Economic	
  Assessment	
  



                                                                                                                           3	
  YEAR	
  TRAILING	
       5	
  YEAR	
  TRAILING	
  
                       KEY	
  PEA	
  DATA*	
                                                                             AVERAGE	
  GOLD	
  PRICE:	
   AVERAGE	
  GOLD	
  PRICE:	
  

                       NPV	
  with	
  8%	
  discount	
  rate	
  (AYer-­‐tax)	
                                                           $467	
  million	
                                                  $331	
  million	
  

                       IRR	
  (AYer-­‐tax)	
                                                                                                    41.9%	
                                                            33.4%	
  

                       Average	
  Annual	
  Produc8on	
                                                                                                          145,000	
  ounces/year	
  
                       Processing	
  Rate	
                                                                                                                         1,700	
  tonnes/day	
  
                       Life	
  of	
  Mine	
                                                                                                                                    15	
  years	
  
                       Ini8al	
  Capex	
  ($38M	
  con8ngency)	
                                                                                                          $192	
  million	
  
                       Cash	
  Costs	
                                                                                                                    $532/ounce	
  or	
  $125/tonne	
  
                       Diluted	
  Grade	
                                                                                                                                    8.1	
  g/t	
  Au	
  
                       Gold	
  Recovery	
                                                                                                                                          92%	
  

                       PEA	
   results	
   released	
   on	
   July	
   25,	
   2012.	
  	
   The	
   PEA	
   is	
   preliminary	
   in	
   nature.	
  	
   It	
   includes	
   inferred	
   mineral	
   resources	
   that	
   are	
   considered	
  
                       too	
   specula8ve	
   geologically	
   to	
   have	
   the	
   economic	
   considera8ons	
   applied	
   to	
   them	
   that	
   would	
   enable	
   them	
   to	
   be	
   categorized	
   as	
  
                       mineral	
  reserves.	
  	
  There	
  is	
  no	
  certainty	
  that	
  the	
  results	
  of	
  the	
  PEA	
  will	
  be	
  realized.	
  



*	
  Prepared	
  by	
  Micon	
  Interna8onal	
  Limited	
  
All	
  dollars	
  quoted	
  in	
  $	
  USD	
  unless	
  stated	
  otherwise	
                                                                                                                                                                            17
                                                                                                                                                                                                                                                         17
Underground	
  Exploraon	
  Development	
  



GETTING	
  BACK	
  UNDERGROUND	
  
§    2,000	
  metres	
  planned	
  	
  
§    Bulk	
  sample	
  for	
  metallurgical	
  test	
  work	
  
§    Prove	
  up	
  vein	
  con8nuity	
  
§    Convert	
  ounces	
  to	
  Measured	
  &	
  Indicated	
  
§    Demonstrate	
  mining	
  method	
  works	
  

	
  PERMITTING	
  
§    Working	
  with	
  government	
  to	
  op8mize	
  the	
  
      permi|ng	
  process	
  
§    Pre	
  consulta8on	
  permi|ng	
  discussions	
  with	
  
      10+	
  agencies	
  
§    Formal	
  submission	
  of	
  applica8on	
  for	
  
      underground	
  explora8on	
  development	
  




                                                                   18	
  
Becoming	
  Part	
  of	
  the	
  Community	
  




                                                 19
Norway:	
  
        “Let	
  the	
  Treasure	
  Hunt	
  Begin”	
  




Industry	
  Minister,	
  Trond	
  Giske	
  at	
  Press	
  conference	
  announcing	
  new	
  direc8on	
  in	
  mineral	
  strategy	
  for	
  Norway	
  (Oct.	
  2010)	
  


                                                                                                                                                                            20
Land	
  Posion	
  


                                                       NORTHERN	
  NORWAY	
  
                                                            Greenstone	
  Belts	
  
                                                            Volcanic	
  Belts	
  
  NORWAY	
                                                  &	
  Metasediments	
  
               SWEDEN	
  
                            FINLAND	
                                                           Bidjovagge	
  
                                          RUSSIA	
                                                                                                  Pechenga	
  
                                                                                                                                      Pasvik

                                                                                                                               Karasjok               RUSSIA	
  
                                                                                                  Kautokeino
                                                                                                                                   Saka|lampi	
  
                                                                                                                 Ki|lä	
  
        SOUTHERN	
  NORWAY	
  
                                                                                      Rombak

                            Kongsberg
                                                                                                                             FINLAND	
  
                                                                                         SWEDEN	
  

                                   Oslo	
  
                                                       Northern	
  Norway	
  
                                                       §  Four	
  concessions	
  over	
  three	
  greenstone	
  belts	
  
                                                           and	
  a	
  basement	
  window	
  

                                                       Southern	
  Norway	
  
                                                       §  Kongsberg	
  concession	
  hos8ng	
  an	
  historic	
  silver	
  mining	
  district	
  
2012	
  Exploraon	
  Norway	
  

                                                            Kautokeino	
  
                                                            §  Largest	
  of	
  3	
  greenstone	
  belts	
  

                                                            §  10	
  gold-­‐in-­‐+ll	
  anomalies	
  iden+fied	
  

                                                            §  2,476	
  8ll	
  samples	
  collected	
  
                                                            §  48	
  rock	
  samples	
  collected	
  
                                                            §  Completed	
  8ll	
  orienta8on	
  survey	
  around	
  
                                                                former	
  producing	
  gold	
  mine,	
  Bidjovagge	
  


    Explora8on	
  Team	
  Norway	
  
                                                            Kongsberg	
  
                                                            §  Historic	
  silver	
  mining	
  district	
  with	
  produc8on	
  
                                                                of	
  40+	
  million	
  ounces	
  with	
  average	
  grades	
  of	
  
                                                                356	
  g/t	
  silver	
  

                                                            §  Five	
  silver	
  targets	
  iden+fied	
  	
  

                                                            §  462	
  stream	
  sediment	
  samples	
  completed	
  

                                                            §  156	
  rock	
  samples	
  completed,	
  including:	
  
                                                                     –  278	
  g/t	
  of	
  silver	
  with	
  0.28%	
  zinc	
  
                                                                     –  61	
  g/t	
  of	
  silver	
  with	
  21.60%	
  zinc	
  

     Historical	
  Workings	
  in	
  the	
  Kongsberg	
  
                                                                     –  109	
  g/t	
  of	
  silver	
  with	
  16.20%	
  zinc	
  
                                                                                                                                        22
2013	
  Exploraon	
  Timeline	
  


 2013	
  
 Q1	
                                            Q2	
                                                 Q3	
                                               Q4	
  
    JAN	
             FEB	
            MAR	
        APR	
             MAY	
             JUN	
            JUL
                                                                                                           	
            AUG	
             SEP	
            OCT	
           NOV	
             DEC	
  


          2013	
  Field	
  Planning	
  	
  


     Stakeholder	
  Consultaons	
  

                                                       Kongsberg:	
  Regional	
  
                                                    stream	
  sediment	
  sampling	
  

                                                              Kongsberg:	
  	
  Follow-­‐up	
  of	
  5	
  stream	
  sediment	
  silver	
  targets	
  &	
  exisng	
  silver	
  workings	
  


                                                                                                        Kautokeino:	
  	
  Detailed	
  follow-­‐up	
  of	
  10	
  gold-­‐in-­‐ll	
  dispersions	
  


                                                                                                        Northern	
  Permits:	
  	
  Regional	
  ll	
  &	
  stream	
  sediment	
  sampling	
  



§  2013	
  Explora8on	
  Program	
  will	
  incorporate	
  
          –  Detailed	
  follow-­‐up	
  on	
  15	
  precious	
  metals	
  targets	
  
          –  Sampling,	
  prospec8ng	
  &	
  geophysics	
  
          –  Detailed	
  follow-­‐up	
  of	
  historical	
  showings	
  in	
  Kongsberg	
  &	
  Rombak	
  
                                                                                                                                                                                                        23
Moving	
  Ahead	
  



  NORTHERN	
  IRELAND	
  
                            Advanced	
  Exploraon	
  
 	
  	
  
                            §    Grow	
  Exis8ng	
  Resource	
  
EXPLORATION	
               §    Realize	
  poten8al	
  of	
  district	
  
                            §    Explore	
  Along	
  Strike	
  from	
  Curraghinalt	
  
                            §    Explore	
  Regional	
  Targets	
  for	
  New	
  Discovery	
  


                            Underground	
  Development	
  
                            §  Explora8on	
  development	
  
DEVELOPMENT	
                   planning	
  applica8on	
  being	
  
                                prepared	
  for	
  submission	
  

NORWAY	
  

                        Greenfields	
  Exploraon	
  
 EXPLORATION	
          §  Extensive	
  program	
  to	
  iden8fy	
  priority	
  
                            explora8on	
  targets	
  


                                                                                                  24
The European Explorer


    Patrick F. N. Anderson
     Chief Executive Officer

         Investor Relations
       Shae-Lynn Mathers
 Director, Investor Relations
  smathers@dalradian.com
               416.583.5622

          Trading Symbol:
              DNA on TSX

          Executive Office:
   Dalradian Resources Inc.
 155 Wellington Street West
                 Suite 2920
            Toronto, Ontario
         Canada M5V 3H1

        www.dalradian.com




                         25
Curraghinalt	
  NI	
  43-­‐101	
  Technical	
  Report	
  


Prepared	
  by	
  Micon	
  Internaonal	
  Limited	
  
§  Dated	
  January	
  10,	
  2012	
  
§  Updated	
  from	
  May	
  10,	
  2010	
  and	
  reflects	
  revised	
  gold	
  price	
  


   Curraghinalt Mesothermal Gold Deposit

   Measured
   0.02 MT @ 21.51 g/t Au for 0.01 million contained ounces

   Indicated
   1.11 MT @ 12.84 g/t Au for 0.46 million contained ounces

   Inferred
   5.45 MT @ 12.74 g/t Au for 2.23 million contained ounces

   Notes:
   §  Combined royalties of 6%
   §  Assumes US$900/oz and an economic cut-off grade of 5 g/t Au over a minimum thickness of 0.10 metres, diluted to 1 metre at 0 grade
   §  Using a cut-off grade of 5 g/t
   §  All veins less than 10 cm were excluded
   §  Width or vein thickness is measured at 90 degrees to the vertical
   §  "Vein thickness" refers to a zone of grade and may not be 100 per cent vein material
   §  Please see "A Mineral Estimate for The Curraghinalt Gold Deposit, Tyrone Project, County Tyrone and County Londonderry, Northern Ireland” dated January 10,
       2012 and available at www.dalradian.com

                                                                                                                                                                     26
Exploraon	
  Tools	
  



 CURRAGHINALT	
  TREND	
  




                                          2012	
  Geophysics	
  
                                          High Resolution Aeromagnetic
                                          Image flown over Curraghinalt
                                          Trend – April 2012	
  




                                      2012	
  Geochem	
  
                                      Historical Geochem with Extended
                                      2012 Soil Survey	
  




                             Curraghinalt	
  Trend	
  
                             Glaciated terrain with minimal outcrop



                                                                          27
Curraghinalt:	
  A	
  Growing	
  Resource	
  


                                                                  CURRAGHINALT	
  RESOURCE	
  ESTIMATE	
  	
  
§  1986-­‐1987	
  resources	
  es8mates	
  are	
  
    historical	
  non	
  43-­‐101	
  compliant	
  resources	
                                      Millions	
  of	
  Ounces	
  
                                                                                                   Metres	
  Drilled	
  
§  2003	
  to	
  2011	
  resource	
  es8mates	
  are	
  
    reported	
  43-­‐101	
  compliant	
                             3.0	
                                                                                      50,000	
  

                                                                    2.5	
  
                                                                                                                                                               40,000	
  

                                                                    2.0	
  
                                                                                                                                                               30,000	
  
                                                                    1.5	
  
                                                                                                                                                               20,000	
  
                                                                    1.0	
  

                                                                                                                                                               10,000	
  
                                                                    0.5	
  

                                                                    0.0	
                                                                                      0	
  
                                                                                     2007	
  	
  	
  	
  	
  	
  	
  	
  	
  2011	
  DNA	
   2012	
  DNA	
  
                                                                                                                             	
  	
  
                                                                                  (Pre-­‐DNA)	
   Year	
  1	
                                  Year	
  2	
  

                                                                              27	
  years	
  of	
  work	
                2	
  years	
  of	
  work	
  

Images presented for illustrative purposes only                                                                                                                             28	
  
PEA:	
  	
  Mining	
  


Longhole	
  Mining	
  with	
  Ramp	
  Access	
  &	
  Truck	
  Haulage:	
  
§     Local	
  availability	
  of	
  experienced	
  longhole	
  miners	
  
§     More	
  dilu8ve	
  than	
  cut	
  and	
  fill	
  but	
  less	
  expensive	
  and	
  
       easier	
  to	
  manage	
  
          §    Cost	
  trade-­‐off	
  not	
  material	
  
§     1.8	
  metres	
  mined	
  width	
  (80%	
  dilu8on	
  on	
  resource)	
  
§     20	
  metre	
  sub	
  level	
  spacing	
  
§     Less	
  than	
  10	
  working	
  faces	
  at	
  any	
  one	
  8me	
  
                                                                                                                                      Longhole	
  Mining	
  at	
  Bulyanhulu	
  Gold	
  Mine	
  



                                                     PRODUCTION	
  RATE	
             MINING	
  COST	
  
  PROJECT	
                                               (TPD)	
                    (US$/T	
  MILLED)	
                COMMENTS	
  
  Curraghinalt	
                                                1,700	
  	
         $76.50	
  (US$/t	
  mined)	
  
  (Dalradian,	
  N.	
  Ireland)	
                                                                                       1.8	
  m	
  stope	
  widths	
  
                                                            (planned)	
                (PEA	
  es8mate)	
  
  Bulyanhulu	
  
  (African	
  Barrick,	
  Tanzania)	
                             3,300	
                    $156.00	
                  Narrow,	
  steeply-­‐dipping	
  veins	
  

  Daisy	
  Milano	
  
  (Silver	
  Lake	
  Resources,	
  W.	
                              540	
         Cash	
  Costs	
  of	
  $660/oz	
     Stope	
  widths	
  down	
  to	
  1	
  m	
  
  Australia)	
  
 Lawlers	
                                                                                    $30.06	
  
 (Barrick,	
  Australia)	
                                        2,200	
                                               Shallow	
  dipping	
  veins,	
  2-­‐6	
  m	
  thick	
  
29                                                                                            (2003)	
  
                                                                                                                                                                                               29
                                                                                                                                                                                              29
PEA:	
  Processing	
  


Opons	
  Examined:	
                                                                                       Preferred	
  opon:	
  
§  Grinding	
  –	
  Whole	
  Ore	
  Leach	
                                                                §  Crushing,	
  grinding,	
  whole	
  ore	
  cyanida8on	
  
                                                                                                                and	
  conven8onal	
  tailings	
  disposal	
  
§  Grinding	
  –	
  Gravity	
  –	
  Flota8on	
  of	
  Gravity	
  Tails	
  
    –	
  CN	
  of	
  Flota8on	
  Concentrate	
                                                              §  92%	
  gold	
  recovery	
  
§  Grinding	
  –	
  Gravity	
  –	
  Flota8on	
  –	
  Sale	
  of	
  Concentrate                             §  Opportunity	
  for	
  further	
  op8miza8on	
  
    (s)	
                                                                                                       of	
  mill	
  circuit	
  
§  Grinding	
  –	
  Cu	
  Flota8on	
  –	
  Pyrite	
  Flota8on	
  
    	
  –	
  CN	
  of	
  Pyrite	
  Concentrate	
  
                                                                                                            	
  
	
  




30                                                                     	
  Rio	
  Tinto	
  Group's	
  Northparkes	
  	
  mine	
  in	
  Parkes,	
  New	
  South	
  Wales,	
  Australia	
  
                                                                                                                                                                                            30
                                                                                                                                                                                            30
Northern	
  Concession:	
  Kautokeino	
  



§  2012	
  Explora8on	
  program	
  
    focused	
  on	
  Kautokeino	
  
    greenstone	
  belt	
  –	
  largest	
  of	
  
    the	
  3	
  belts	
  
§  2,476	
  8ll	
  samples	
  collected	
  
§  48	
  rock	
  samples	
  collected	
  
§  Completed	
  8ll	
  orienta8on	
  
    survey	
  around	
  former	
  
    producing	
  gold	
  mine,	
  
    Bidjovagge	
  
§  10	
  gold-­‐in-­‐+ll	
  anomalies	
  
    iden+fied	
  
§  2013	
  Next	
  steps	
  –	
  follow-­‐up	
  
    via	
  sampling,	
  prospec8ng	
  and	
  
    geophysics	
  of	
  10	
  anomalies	
  


                                                    31
Southern	
  Concession:	
  Kongsberg	
  


§  Historic	
  silver	
  mining	
  district	
  with	
  produc8on	
  
    of	
  40+	
  million	
  ounces	
  with	
  average	
  grades	
  of	
  
    356	
  g/t	
  silver	
  
§  462	
  stream	
  sediment	
  samples	
  completed	
  
§  156	
  rock	
  samples	
  completed,	
  including:	
  
        –  278	
  g/t	
  of	
  silver	
  with	
  0.28%	
  zinc	
  

        –  61	
  g/t	
  of	
  silver	
  with	
  21.60%	
  zinc	
  
        –  109	
  g/t	
  of	
  silver	
  with	
  16.20%	
  zinc	
  

§  2013	
  Next	
  Steps:	
  
        –  Crews	
  will	
  return	
  in	
  H1	
  2013	
  for	
  program	
  
           comple8on	
  

        –  Follow-­‐up	
  of	
  five	
  stream	
  sediment	
  silver	
  
           targets	
  

        –  Extensive	
  program	
  of	
  reviewing	
  and	
  
           reprocessing	
  new	
  and	
  historic	
  geophysical	
  
           data	
  to	
  iden8fy	
  priority	
  explora8on	
  
           targets	
  will	
  con8nue	
  
                                                                               32

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Dalradian corporate presentation feb 2013 web

  • 1. Sample  from  the  T17  vein  –  188  g/t  of  gold,  103  g/t  of  silver  and  5.07%  of  copper     The  European  Explorer      │    February  2013   Patrick  F.  N.  Anderson     Chief  Execu8ve  Officer  
  • 2. Forward-­‐Looking  Statement  &  Qualified  Persons   This  presenta8on  contains  “forward‑looking  informa8on”  which  may  include,  but  is  not  limited  to,  statements  with  respect  to  the  comple8on  of  the  acquisi8on  (the  “Acquisi8on”)  by  the  Company  from  a   group   of   private   vendors   of   approximately   1.7   million   hectares   of   mineral   rights   over   four   greenstone   belts   and   a   historic   silver   mining   camp   in   Norway,   future   financial   or   opera8ng   performance   of   the   Company  and  its  mineral  projects,  the  future  price  of  metals,  the  es8ma8on  of  mineral  resources,  the  realiza8on  of  mineral  resource  es8mates,  the  8ming  and  amount  of  es8mated  future  produc8on,  costs  of   produc8on,   capital,   opera8ng   and   explora8on   expenditures,   costs   and   8ming   of   the   development   of   new   deposits,   costs   and   8ming   of   future   explora8on,   requirements   for   addi8onal   capital,   government   regula8on   of   mining   opera8ons,   environmental   risks,   reclama8on   expenses,   8tle   disputes   or   claims   and   limita8ons   of   insurance   coverage.   OYen,   but   not   always,   forward‑looking   statements   can   be   iden8fied   by  the  use  of  words  and  phrases  such  as  “plans,”  “expects,”  “is  expected,”  “budget,”  “scheduled,”  “es8mates,”  “forecasts,”  “intends,”  “an8cipates,”  or  “believes”  or  varia8ons  (including  nega8ve  varia8ons)  of   such  words  and  phrases,  or  state  that  certain  ac8ons,  events  or  results  “may,”  “could,”  “would,”  “might”  or  “will”  be  taken,  occur  or  be  achieved.   Forward-­‐looking  statements  are  based  on  the  opinions  and  es8mates  of  management  as  of  the  date  such  statements  are  made  and  are  based  on  various  assump8ons,  such  as  approvals  from  the  Toronto   Stock   Exchange   and   the   Norwegian   Directorate   of   Mining   will   be   obtained   in   respect   of   the   Acquisi8on,   the   con8nued   poli8cal   stability   in   Northern   Ireland   and   Norway,   that   permits   required   for   the   Company’s  opera8ons  will  be  obtained  in  a  8mely  basis  in  order  to  permit  the  Company  to  proceed  on  schedule  with  its  planned  drilling  programs,  that  skilled  personnel  and  contractors  will  be  available  as  the   Company’s   opera8ons   con8nue   to   grow,   that   the   price   of   gold   will   be   at   levels   that   render   the   project   economic,   or   that   the   Company   will   be   able   to   con8nue   raising   the   necessary   capital   to   finance   its   opera8ons  and  realize  on  mineral  resource  es8mates,  and  that  the  assump8ons  contained  in  the  Preliminary  Economic  Assessment  rela8ng  to  the  Curraghinalt  Deposit  are  accurate  and  complete.     Forward‑looking  statements  involve  known  and  unknown  risks,  uncertain8es  and  other  factors  which  may  cause  the  actual  results,  performance  or  achievements  of  the  Company  to  be  materially  different   from   any   future   results,   performance   or   achievements   expressed   or   implied   by   the   forward‑looking   statements.   Such   factors   include,   among   others,   general   business,   economic,   compe88ve,   poli8cal   and   social  uncertain8es;  the  actual  results  of  current  and  future  explora8on  ac8vi8es;  actual  results  of  reclama8on  ac8vi8es;  conclusions  of  economic  evalua8ons;  changes  in  project  parameters  and/or  economic   assessments   as   plans   con8nue   to   be   refined;   future   prices   of   metals;   possible   varia8ons   of   mineral   grade   or   recovery   rates;   the   risk   that   actual   costs   may   excel   es8mated   costs;   failure   of   plant,   equipment   or   processes   to   operate   as   an8cipated;   accidents,   labour   disputes   and   other   risks   of   the   mining   industry;   poli8cal   instability;   delays   in   obtaining   governmental   approvals   or   financing   or   in   the   comple8on   of   development  or  construc8on  ac8vi8es,  as  well  as  those  factors  discussed  in  the  sec8on  en8tled  “Risk  Factors”  in  the  Company’s  Annual  Informa8on  Form.     Although  the  Company  has  abempted  to  iden8fy  important  factors  that  could  cause  actual  ac8ons,  events  or  results  to  differ  materially  from  those  described  in  forward‑looking  statements,  there  may  be   other  factors  that  cause  ac8ons,  events  or  results  to  differ  from  those  an8cipated,  es8mated  or  intended.  Forward‑looking  statements  contained  herein  are  made  as  of  the  date  of  this  presenta8on  and  the   Company  disclaims  any  obliga8on  to  update  any  forward‑looking  statements,  whether  as  a  result  of  new  informa8on,  future  events  or  results,  except  as  may  be  required  by  applicable  securi8es  laws.  There   can  be  no  assurance  that  forward‑looking  statements  will  prove  to  be  accurate,  as  actual  results  and  future  events  could  differ  materially  from  those  an8cipated  in  such  statements.    Accordingly,  readers   should  not  place  undue  reliance  on  forward‑looking  statements.   Some  technical  data  in  this  presenta8on  was  taken  from  the    technical  report  en8tled  “An  Updated  Mineral  Resource  Es8mate  for  the  Curraghinalt  Gold  Deposit,  Tyrone  Project,  County  Tyrone  and  County   Londonderry,   Northern   Ireland   dated   January   10,   2012,   prepared   by   B.   Terrence   Hennessey,   P.Geo.,   and   Dibya   Kan8   Mukhopadhyay,   M.Sc.,   MAusIMM,   of   Micon   Interna8onal   Limited   (the   Technical   Report ).   Michele  L.  Cote,  MSc.,  P.  Geo.,  Dalradian  Resources,  is  the  Qualified  Person  who  supervised  the  prepara8on  of  the  explora8on  technical  data  for  in  this  presenta8on.   The   technical   informa8on   contained   in   this   news   release   is   based   upon   informa8on   prepared   by   Messrs.   Hennessey,   Jacobs,   Villeneuve,   Damjanović   and   Foo   of   Micon   Interna8onal   Ltd.,   who   are   each   a   Qualified  Person  as  defined  by  NI  43-­‐101.  Messrs.  Hennessey,  Jacobs,  Villeneuve,  Damjanović  and  Foo  are  independent  of  Dalradian  as  defined  by  NI  43-­‐101.         2
  • 3. Capital  Structure   TSX,  OTCQX:   DNA,  DRLDF   STOCK  PRICE   Shares  outstanding:   89.5  million   $1.33 Fully  diluted  :   97.5  million   January 29, 2013 (January  17,  2013)   $24.00   Market  cap:   $119.1  million   $2.00   (January  29,  2013)   DNA   $22.00   Average  volume:   62,039   (30  day)   $1.50   $20.00   Aug  2010  IPO  @  $1.50   $39.1  million   Feb  2012  Financing  @  $2.00   $27.8  million   $18.00   Insider  ownership:   6%   $1.00   (approximate)   $16.00   Cash  balance:   $28.9  million   (as  at  September  30,  2012)   $14.00   $0.50   BMO  Junior   Gold  Index  ETF   $12.00   John  Hayes     $0.00   $10.00   Analyst  coverage:   Dec  2011   Dec  2012   Jan  2012   Jun  2012   Jul  2012   Feb  2012   Mar  2012   Aug  2012   Sep  2012   Jan  2013   Apr  2012   Nov  2012   Oct  2012   May  2012   Jamie  Sprab     Craig  Stanley   All  dollars  quoted  in  $  CAD   3
  • 4. The  Board:  A  Track  Record  of  Discovery  and  Development   PATRICK  F.  N.  ANDERSON   KEITH  D.  MCKAY   CHIEF  EXECUTIVE  OFFICER   CHIEF  FINANCIAL  OFFICER   Former  CEO  of  Aurelian  Resources     Former  CFO  of  Aurelian  Resources     Also  Director  of  Connental  Gold     COLIN  K.  BENNER   THOMAS  J.  OBRADOVICH   CHAIRMAN  OF  DELTA  MINERALS  AND  AURICO  GOLD   CHAIRMAN     Also  Director  of  Mercator  Minerals,  Lundin  Mining,     Chairman  of  Lago  Dourado  Minerals   Former  CEO  of  Young-­‐Davidson  Mines   Former  Director  of  Aurelian  Resources   JOSEPH  F.  CONWAY   SEAN  E.  O.  ROOSEN   CEO  OF  PRIMERO  MINING  CORP.   CEO  OF  OSISKO  MINING  CORPORATION   Former  CEO  of  IAMGOLD   Also  Director  of  Astur  Gold   RONALD  P.  GAGEL   ARI  B.  SUSSMAN   Former  SVP  and  CFO  of  FNX  Mining   CEO  OF  CONTINENTAL  GOLD  LIMITED   4
  • 5. Targeng  High-­‐Grade  Deposits  in  Low  Risk  Jurisdicons   NORTHERN  IRELAND   §  Posi8ve  PEA   §  High-­‐grade  2.7M  ounce  gold  resource   (all  categories)1   Norway   −  Measured:  0.02  MT  grading  21.51  g/t  Au   for  10,000  contained  ounces   −  Indicated:    1.11  MT  grading  12.84  g/t  Au   for  460,000  contained  ounces   −  Inferred:    5.45  MT  grading  12.74  g/t  Au  for   Northern   2.23  million  contained  ounces   Ireland   §  Ac8ve  drilling  &  explora8on   NORWAY   §  1.3  M  hectares  of  explora8on  permits   §  Over  15  precious  metals  targets  iden8fied  in   2012  season   1  Refer  to  press  release  dated  Nov.  30,  2011  en8tled  “Dalradian  Announces  Resource  Increase  at  Curraghinalt”  at  www.dalradian.com   5
  • 6. Northern  Ireland     §  Our  flagship  asset:  Curraghinalt  mesothermal   Gold   high-­‐grade  gold  deposit   Base  Metals   Salt  Mine   §  Excellent  regional  infrastructure   Scotgold   §  Over  84,000  hectares  under  license   Permibed  in  2012   §  Recent  discoveries  demonstrate  untapped   Underground   Cononish   poten8al   Conroy   Salt  Mine   +1M  ounce  resource   NORTHERN   Curraghinalt   IRELAND   Galantas  Gold   Curraghinalt   Lonmin   Permibed  in  2007   Cavanacaw   Clonbret   Boliden   In  produc8on   Croagh  Patrick   Irish  Salt   Tara   Parys  Mountain   Mining   Vedanta  Resources   In  produc8on   Galmoy   Avoca   Gor8n   Silvermines   Gwynfynydd   Pallas  Green   Lisheen   Cavanacaw   Galantas   Omagh   BELFAST   IMC  Discovery   Gold   Allihies  Copper   354  g/t  gold  over  1.5m   Mines   Conroy   Lundin   Diamonds   &  Gold   Xstrata   In  produc8on   PFS   South  Cro_y   6  
  • 7. Acve  Resource  Industry   Curraghinalt   Logging  at  Gor8n  Glen  Forest  Park   Curraghinalt  Adit  Construc8on   Curraghinalt   Gorn   DG3   Alwories  Quarry   0 1 2 kilometres Greencastle  Quarry   7
  • 8. Curraghinalt  2012   2012   Q1   Q2   Q3   Q4   JAN   FEB   MAR   APR   MAY   JUN   JUL   AUG   SEP   OCT   NOV   DEC   Posive  PEA   Curraghinalt  Drilling:   More  Alwories  Intercepts:   Alwories  discovery   $28.2  million  bought   •  3.35m  @  13.80  g/t  Au   Completes  airborne   1.47m  @  23.62  g/t  Au   •  1.22m  @  25.14  g/t  Au   deal  financing   •  3.75m  @  10.43  g/t  Au   geophysical  survey   2.22m  @  14.07  g/t  Au   •  1.28m  @  30.58  g/t  Au   announced   •  1.48m  @  22.83  g/t  Au   Water  discharge   C-­‐veins  show  wall   Curraghinalt  Drilling:   permit  in  hand   Micon  appointed  as   rock  carry  gold   •  2.34m  @  47.94  g/t  Au   lead  consultant  for  PEA   •  3.97m  @  38.00  g/t  Au   Soil  geochem  grid   43-­‐101  Technical   iden8fies  new  targets     Report  filed   Curraghinalt  Drilling:   •  1.7m  @  17.55  g/t  Au   2013   •  2.47m  @  18.99  g/t  Au   Q1   JAN   FEB   2013  Explora8on   Program  Announced   Fallagh  Prospect     announced  with  float   samples  of:   •  30.30  g/t  Au   •  29.20  g/t  Au  
  • 11. Cross  Secon  12-­‐CT-­‐156   CROSS-­‐SECTION  A  –  A’   Adit   11
  • 12. 2012  Drill  Program  Highlights   A  Growing  Resource   12 Approximately  26,000  metres  drilled  since  last  resource  update  
  • 13. C  Veins  –  Potenal  to  Expand  the  Resource   §  Assembled  80  km  of  historic  core   in  a  modern  facility   §  Most  was  found  unsampled   §  Iden8fied  a  mineralized  oblique   vein  set   Dalradian  Gold  Omagh,     13 Core  Facility   13
  • 14. §  Evalua8ng  the  poten8al  contribu8on  to  the  resource  at  Curraghinalt   ‘Resource’  or  ‘D’  Vein   Newly  idenfied  ‘C’  Vein   Plan  View  Looking  North   14 600  m  hole  yielded  over  1000    veinlets   14
  • 15. Not  a  Trend  but  a  District   GLACIATED  TERRAIN  WITH  MINIMAL  OUTCROP   Golan  Burn   Outcropping  veins  including   60cm  @  61.43  g/t  Au   Ajagh  Burn   2.47m  @  18.99  g/t  Au   8  km Curraghinalt     400  m  Step-­‐out   Alwories  Discovery  Holes   Deposit   3.2m  @  5.34  g/t  Au   1.47m  @  23.6  g/t  Au   2.22m  @  14.1  g/t  Au   Curraghinalt   4.72m  @  14.82  g/t  Au   Trend   Scotch  Town   Peak  of  10.52  g/t  Au   In  mineralized  boulders     “Fallagh”  New  Au  Prospect   1700    30.30  g/t  Au,         m      29.20  g/t  Au  &   Curraghinalt  Deposit      17.25  g/t  Au    in  Float   Resource  as  at  Nov  2011  –     Measured:  0.01  Moz  Au                                          (0.02MT  @  21.51  g/t)   Indicated:  0.46  Moz  Au   Curraghinalt  Trend                                        (1.11MT  @  12.84  g/t)   Veins  in  Current  Resource Alwories   Inferred:  2.23  Moz  Au   1.88  m  @  20.8  g/t  Au  in   Interpreted  Veins Historic  Findings                                        (5.45  MT  @  12.74  g/t)   vein  in  quarry   Intercept  in  hole  11-­‐CT-­‐99  projected  up  dip  to  170m  mSL   15
  • 16. Exploraon  Summary   §  In  the  last  2  years…   –  >4-­‐fold  increase  in  contained  ounces   –  Implemented  a  modern  explora8on  organiza8on   §  Deposit  is  open  in  all  direc8ons   §  Successfully  mapping  high  grade  shoots   §  “C”  veinlet  swarms,  a  game  changer…   –  Reduce  dilu8on   –  Stand-­‐alone  ounces?   –  Poten8al  for  alterna8ve  mining  methods   §  Big  trend  &  excellent  explora8on  tools     §  Clear  strategy,  competent  team     16
  • 17. Preliminary  Economic  Assessment   3  YEAR  TRAILING   5  YEAR  TRAILING   KEY  PEA  DATA*   AVERAGE  GOLD  PRICE:   AVERAGE  GOLD  PRICE:   NPV  with  8%  discount  rate  (AYer-­‐tax)   $467  million   $331  million   IRR  (AYer-­‐tax)   41.9%   33.4%   Average  Annual  Produc8on   145,000  ounces/year   Processing  Rate   1,700  tonnes/day   Life  of  Mine   15  years   Ini8al  Capex  ($38M  con8ngency)   $192  million   Cash  Costs   $532/ounce  or  $125/tonne   Diluted  Grade   8.1  g/t  Au   Gold  Recovery   92%   PEA   results   released   on   July   25,   2012.     The   PEA   is   preliminary   in   nature.     It   includes   inferred   mineral   resources   that   are   considered   too   specula8ve   geologically   to   have   the   economic   considera8ons   applied   to   them   that   would   enable   them   to   be   categorized   as   mineral  reserves.    There  is  no  certainty  that  the  results  of  the  PEA  will  be  realized.   *  Prepared  by  Micon  Interna8onal  Limited   All  dollars  quoted  in  $  USD  unless  stated  otherwise   17 17
  • 18. Underground  Exploraon  Development   GETTING  BACK  UNDERGROUND   §  2,000  metres  planned     §  Bulk  sample  for  metallurgical  test  work   §  Prove  up  vein  con8nuity   §  Convert  ounces  to  Measured  &  Indicated   §  Demonstrate  mining  method  works    PERMITTING   §  Working  with  government  to  op8mize  the   permi|ng  process   §  Pre  consulta8on  permi|ng  discussions  with   10+  agencies   §  Formal  submission  of  applica8on  for   underground  explora8on  development   18  
  • 19. Becoming  Part  of  the  Community   19
  • 20. Norway:   “Let  the  Treasure  Hunt  Begin”   Industry  Minister,  Trond  Giske  at  Press  conference  announcing  new  direc8on  in  mineral  strategy  for  Norway  (Oct.  2010)   20
  • 21. Land  Posion   NORTHERN  NORWAY   Greenstone  Belts   Volcanic  Belts   NORWAY   &  Metasediments   SWEDEN   FINLAND   Bidjovagge   RUSSIA   Pechenga   Pasvik Karasjok RUSSIA   Kautokeino Saka|lampi   Ki|lä   SOUTHERN  NORWAY   Rombak Kongsberg FINLAND   SWEDEN   Oslo   Northern  Norway   §  Four  concessions  over  three  greenstone  belts   and  a  basement  window   Southern  Norway   §  Kongsberg  concession  hos8ng  an  historic  silver  mining  district  
  • 22. 2012  Exploraon  Norway   Kautokeino   §  Largest  of  3  greenstone  belts   §  10  gold-­‐in-­‐+ll  anomalies  iden+fied   §  2,476  8ll  samples  collected   §  48  rock  samples  collected   §  Completed  8ll  orienta8on  survey  around   former  producing  gold  mine,  Bidjovagge   Explora8on  Team  Norway   Kongsberg   §  Historic  silver  mining  district  with  produc8on   of  40+  million  ounces  with  average  grades  of   356  g/t  silver   §  Five  silver  targets  iden+fied     §  462  stream  sediment  samples  completed   §  156  rock  samples  completed,  including:   –  278  g/t  of  silver  with  0.28%  zinc   –  61  g/t  of  silver  with  21.60%  zinc   Historical  Workings  in  the  Kongsberg   –  109  g/t  of  silver  with  16.20%  zinc   22
  • 23. 2013  Exploraon  Timeline   2013   Q1   Q2   Q3   Q4   JAN   FEB   MAR   APR   MAY   JUN   JUL   AUG   SEP   OCT   NOV   DEC   2013  Field  Planning     Stakeholder  Consultaons   Kongsberg:  Regional   stream  sediment  sampling   Kongsberg:    Follow-­‐up  of  5  stream  sediment  silver  targets  &  exisng  silver  workings   Kautokeino:    Detailed  follow-­‐up  of  10  gold-­‐in-­‐ll  dispersions   Northern  Permits:    Regional  ll  &  stream  sediment  sampling   §  2013  Explora8on  Program  will  incorporate   –  Detailed  follow-­‐up  on  15  precious  metals  targets   –  Sampling,  prospec8ng  &  geophysics   –  Detailed  follow-­‐up  of  historical  showings  in  Kongsberg  &  Rombak   23
  • 24. Moving  Ahead   NORTHERN  IRELAND   Advanced  Exploraon       §  Grow  Exis8ng  Resource   EXPLORATION   §  Realize  poten8al  of  district   §  Explore  Along  Strike  from  Curraghinalt   §  Explore  Regional  Targets  for  New  Discovery   Underground  Development   §  Explora8on  development   DEVELOPMENT   planning  applica8on  being   prepared  for  submission   NORWAY   Greenfields  Exploraon   EXPLORATION   §  Extensive  program  to  iden8fy  priority   explora8on  targets   24
  • 25. The European Explorer Patrick F. N. Anderson Chief Executive Officer Investor Relations Shae-Lynn Mathers Director, Investor Relations smathers@dalradian.com 416.583.5622 Trading Symbol: DNA on TSX Executive Office: Dalradian Resources Inc. 155 Wellington Street West Suite 2920 Toronto, Ontario Canada M5V 3H1 www.dalradian.com 25
  • 26. Curraghinalt  NI  43-­‐101  Technical  Report   Prepared  by  Micon  Internaonal  Limited   §  Dated  January  10,  2012   §  Updated  from  May  10,  2010  and  reflects  revised  gold  price   Curraghinalt Mesothermal Gold Deposit Measured 0.02 MT @ 21.51 g/t Au for 0.01 million contained ounces Indicated 1.11 MT @ 12.84 g/t Au for 0.46 million contained ounces Inferred 5.45 MT @ 12.74 g/t Au for 2.23 million contained ounces Notes: §  Combined royalties of 6% §  Assumes US$900/oz and an economic cut-off grade of 5 g/t Au over a minimum thickness of 0.10 metres, diluted to 1 metre at 0 grade §  Using a cut-off grade of 5 g/t §  All veins less than 10 cm were excluded §  Width or vein thickness is measured at 90 degrees to the vertical §  "Vein thickness" refers to a zone of grade and may not be 100 per cent vein material §  Please see "A Mineral Estimate for The Curraghinalt Gold Deposit, Tyrone Project, County Tyrone and County Londonderry, Northern Ireland” dated January 10, 2012 and available at www.dalradian.com 26
  • 27. Exploraon  Tools   CURRAGHINALT  TREND   2012  Geophysics   High Resolution Aeromagnetic Image flown over Curraghinalt Trend – April 2012   2012  Geochem   Historical Geochem with Extended 2012 Soil Survey   Curraghinalt  Trend   Glaciated terrain with minimal outcrop 27
  • 28. Curraghinalt:  A  Growing  Resource   CURRAGHINALT  RESOURCE  ESTIMATE     §  1986-­‐1987  resources  es8mates  are   historical  non  43-­‐101  compliant  resources   Millions  of  Ounces   Metres  Drilled   §  2003  to  2011  resource  es8mates  are   reported  43-­‐101  compliant   3.0   50,000   2.5   40,000   2.0   30,000   1.5   20,000   1.0   10,000   0.5   0.0   0   2007                  2011  DNA   2012  DNA       (Pre-­‐DNA)   Year  1   Year  2   27  years  of  work   2  years  of  work   Images presented for illustrative purposes only 28  
  • 29. PEA:    Mining   Longhole  Mining  with  Ramp  Access  &  Truck  Haulage:   §  Local  availability  of  experienced  longhole  miners   §  More  dilu8ve  than  cut  and  fill  but  less  expensive  and   easier  to  manage   §  Cost  trade-­‐off  not  material   §  1.8  metres  mined  width  (80%  dilu8on  on  resource)   §  20  metre  sub  level  spacing   §  Less  than  10  working  faces  at  any  one  8me   Longhole  Mining  at  Bulyanhulu  Gold  Mine   PRODUCTION  RATE   MINING  COST   PROJECT   (TPD)   (US$/T  MILLED)   COMMENTS   Curraghinalt   1,700     $76.50  (US$/t  mined)   (Dalradian,  N.  Ireland)   1.8  m  stope  widths   (planned)   (PEA  es8mate)   Bulyanhulu   (African  Barrick,  Tanzania)   3,300   $156.00   Narrow,  steeply-­‐dipping  veins   Daisy  Milano   (Silver  Lake  Resources,  W.   540   Cash  Costs  of  $660/oz   Stope  widths  down  to  1  m   Australia)   Lawlers   $30.06   (Barrick,  Australia)   2,200   Shallow  dipping  veins,  2-­‐6  m  thick   29 (2003)   29 29
  • 30. PEA:  Processing   Opons  Examined:   Preferred  opon:   §  Grinding  –  Whole  Ore  Leach   §  Crushing,  grinding,  whole  ore  cyanida8on   and  conven8onal  tailings  disposal   §  Grinding  –  Gravity  –  Flota8on  of  Gravity  Tails   –  CN  of  Flota8on  Concentrate   §  92%  gold  recovery   §  Grinding  –  Gravity  –  Flota8on  –  Sale  of  Concentrate §  Opportunity  for  further  op8miza8on   (s)   of  mill  circuit   §  Grinding  –  Cu  Flota8on  –  Pyrite  Flota8on    –  CN  of  Pyrite  Concentrate       30  Rio  Tinto  Group's  Northparkes    mine  in  Parkes,  New  South  Wales,  Australia   30 30
  • 31. Northern  Concession:  Kautokeino   §  2012  Explora8on  program   focused  on  Kautokeino   greenstone  belt  –  largest  of   the  3  belts   §  2,476  8ll  samples  collected   §  48  rock  samples  collected   §  Completed  8ll  orienta8on   survey  around  former   producing  gold  mine,   Bidjovagge   §  10  gold-­‐in-­‐+ll  anomalies   iden+fied   §  2013  Next  steps  –  follow-­‐up   via  sampling,  prospec8ng  and   geophysics  of  10  anomalies   31
  • 32. Southern  Concession:  Kongsberg   §  Historic  silver  mining  district  with  produc8on   of  40+  million  ounces  with  average  grades  of   356  g/t  silver   §  462  stream  sediment  samples  completed   §  156  rock  samples  completed,  including:   –  278  g/t  of  silver  with  0.28%  zinc   –  61  g/t  of  silver  with  21.60%  zinc   –  109  g/t  of  silver  with  16.20%  zinc   §  2013  Next  Steps:   –  Crews  will  return  in  H1  2013  for  program   comple8on   –  Follow-­‐up  of  five  stream  sediment  silver   targets   –  Extensive  program  of  reviewing  and   reprocessing  new  and  historic  geophysical   data  to  iden8fy  priority  explora8on   targets  will  con8nue   32