www.troyresources.com.au | ASX, TSX:TRY

Troy Resources - 2012 AGM

Forward Looking Statements

This presentation contains certain forward-looking statements and forecasts which includewithout limitation, expectations regarding future performance, costs, production levels orrates, reserves and resources, the financial position of Troy Resources Limited (the“Company”), industry growth or other trend projections.

Although such forecasts and forward-looking statements reflect current beliefs and arebased on information currently available and assumptions believed to be reasonable there isno assurance that actual results will be consistent with such forecasts and forward-lookingstatements. A number of factors could cause actual results, performance, or achievement todiffer materially from the results expressed or implied in such forecasts and forward-lookingstatements. For a description of such factors please see the section entitled “Risk Factors”in the Company’s amended and restated preliminary prospectus dated 10 January 2008available under the Company’s profile at www.sedar.com.

Nothing in this presentation should be construed as either an offer to sell or a solicitation ofan offer to buy or sell securities.

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2012 – A Year of Breaking Records

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• Gold Production up 67% to 119,621oz @ US$472/oz net of silver credits

• Record gold equivalent production up 79% to 137,457oz @ US$625/oz goldequivalent (Au_Eq)

• Record revenue up 104% to A$208.6M

• Record PAT up 115% to A$31.4M

• 30 September 2012 net cash of A$47.9M compared to net debt of $5.4M at 30June 2011

• Declared 13th Fully Franked Cash Dividend of 10cps (up 67%)

• Record exploration spend up 87% to $16.5M

• September Quarter 2012• Gold production of 28,384oz @ US$ 549/oz Au net of silver credits

• Gold Equivalent production 33,389oz @ US$726/oz Au_Eq

Troy - A Profitable Dividend Paying Mid Tier Gold Producer

• Two operating gold mines

• Andorinhas, Para State, Brazil

• Casposo, San Juan Province, Argentina

• Sandstone, WA, Australia • Sale announced to Southern Cross Gold (SXG)

• $5M,

• 2% uncapped royalty

• 43.7M five year options Exercise Price 10 cps

• Opened Troy office in Toronto

• Just 91.3M share on issue

• Paid 13 cash dividends over the last 13 years

• Track record of building mines quickly and at low cost

• Valued by the local communities in which we operate

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Corporate Snapshot

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Ordinary Shares: 91.3MOptions: 3.1MShare Price as at 26 Nov 2012: $4.2852 Week Range: $3.70 - $5.05 Market Cap as at 26 Nov 2012: ~A$390MNet Cash as of 30 Sept 2012: ~A$47.9MNo debt as of October 10, 2012

Key Statistics (A$)

Senior Management• Paul Benson, CEO & Managing Director• Peter Doyle, VP Exploration & Bus. Development• Ken Nilsson, Executive Director Projects• David Sadgrove, CFO & Company Secretary• Andrew Storrie, COO

Non-Executive Directors• David Dix, Non-Executive Chairman • Gordon Chambers, Non-Executive Director• Fred Grimwade, Non-Executive Director• John Jones, Non-Executive Director• Robin Parish, Non-Executive Director

Andorinhas Gold Mine - Brazil

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• FY2010: 31,568oz at US$634/oz

• FY2011: 49,099oz at US$519/oz

• FY2012: 48,632oz at US$571/oz

• Guidance FY2013: 40-45 koz

• Sept Qtr 2012: 9,975,oz @ US$641

• Closure in FY2014, exact timing dependent on permitting

Casposo Project – San Juan Province

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San Juan Mineral Project EndowmentMines & Casposo Project Access

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Casposo – the Crown Jewels

FY2012 Performance:• By-Product: 70,989oz Au @ unit cash cost of US$404/oz Au net of (937,208oz) silver credits

• Co–Product: 88,825oz Au_Eq @ unit cash cost of US$654/oz Au_Eq

September Quarter 2012

• By-Product: 18,409oz Au @ US$499/oz net of (270,380oz) silver credits

• Co-Product: 23,414oz Au_Eq @ US$763/oz Au_Eq

Risks

• Delay to underground access to high grade ore

• Argentinean inflation 9

New 2012 Mine Plan

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Underground Development has Commenced

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

FY2013 FY2014 FY2015 FY2016 FY2017

Ounces

Financial Year Ending June 30

CASPOSORECOVERED GOLD EQUIVALENT PRODUCTION OUNCES

Gold Silver in GoldEquivalent

New 2012 Mine Plan

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• Note: Some risk to FY2013 guidance due to delayed delivery of contractor’s jumbo and increased in-pit dilution – will revise guidance early calendar 2013

• Increase to mill capacity in June quarter 2013 should see FY14 and FY15 exceed guidance

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Ounces

Financial Year Ending 30 June

CASPOSO EXPLORATION POTENTIAL

Gold Silver in Gold Equivalent

Ongoing exploration aimed at maintaining

production levels

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Casposo Exploration Potential

• Note: Some risk to FY2013 guidance due to delayed delivery of contractor’s jumbo and increased in-pit dilution – will revise guidance early calendar 2013

• Increase to mill capacity in June quarter 2013 should see FY14 and FY15 exceed guidance

Gol

d an

d G

old

Equ

ival

ent (

Au/

Au_

Eq

Oun

ces

659,147oz

382,500 oz

506,400 oz

574,600 oz

 ‐

 100,000

 200,000

 300,000

 400,000

 500,000

 600,000

 700,000

2009 Reserve 2010 Reserve 2012 Reserve

CASPOSO RESERVE GROWTH

79,047oz Au_Eq(Produced as of 29 Feb 2012)

Au_Eq Ounces (LH)

A Track Record Of Adding Ounces

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Blue Sky

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0.0

2.0

4.0

6.0

8.0

10.0

12.0

mill

ion

ounc

es

Note: Gold Equivalent calculated at 1:60 Gold to Silver Ratio

South American Low Sulphidation Epithermal DepositsTotal Gold Equivalent Endowment

Exploration Model – Pajingo Mine

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New Resource Area Focused on First 500m of 1.5km Structure

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Kamila - Julieta Structural Corridor

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2011 Julieta Drilling Results

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Castaño Nuevo Target - Argentina

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Looking Forward

Opportunities

• Casposo underground production

• accessing very high grade

• Ongoing exploration at Casposo

• exploring under covered areas and the nearby joint ventures

• Continue to look for the next opportunity

• Relative valuations between producers and explorers moving in the right direction

• Troy well positioned:

• cash, cash flow and access to debt

• capability to build mines at quickly and at low cost

Risks

• Delay in Casposo underground development

• Argentinean cost inflation

• Brazilian permitting 22

THANK YOU

Qualifying StatementsAu_Eq grade calculated using gold to silver ratio of 1:60. The gold: silver ratio is determined using metal price and recovery factors and determined according to the parameters below:

– Au Price US$1500/oz– Ag Price US$28/oz– Au processing recovery 90%– Ag processing recovery 80%– Metal prices approximate three year averages for each of gold and silver.– Processing recoveries were determined from updated metallurgical testwork carried out by independent consultants on diamond drill core from Casposo.

The equivalency factor is calculated by the formula:Gold to Silver ratio = (gold price ÷ silver price) x (gold recovery ÷ silver recovery)

= (1500 ÷ 28) x (.90 ÷ .80)= 60

Gold equivalency (Au_Eq) is calculated by the formula: Au_Eq g/t = Au g/t + (Ag g/t ÷ 60.00)

Information of a scientific or technical nature that which relates to exploration results, Mineral Resources or ore Reserves was prepared under the supervision of Peter J. Doyle, Vice President Exploration and Business Development of Troy, a “qualified person” under National Instrument 43-101 – “Standards of Disclosure for Mineral Projects”, a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Doyle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking, to qualify as a “competent person” as defined under the Australian JORC Code as per the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Doyle has reviewed and approved the information contained in this announcement. Mr Doyle is:

• Is a full time employee of Troy Resources Limited • Has sufficient experience which is relevant to the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the

2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ • Is a Fellow of the Australasian Institute of Mining and Metallurgy • Has consented in writing to the inclusion of this data

For further information regarding the Company’s projects in Brazil, Australia and Argentina, including a description of Troy’s quality assurance program, quality control measures, the geology, sample collection and testing procedures in respect of the Company’s projects please refer to the technical reports filed which are available under the Company’s profile at www.sedar.com or on the company’s website.

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