Welcome to S2 Resources (S2R) - Take #2 - Action

With A$20 million in cash, S2 Resources is well funded to pursue its strategy.

In addition, Sirius Europa currently holds A$2 million in cash, which will be used to sole-fund Sakumpu's exploration program through until the end of 2016.

S2 Resources' objective is to provide investment returns through the discovery and development of high value mineral resources, as a result of exploration and the identification of early stage assets with high growth potential. S2 Resources will be focused on mainstream commodities such as gold and base metals in politically stable jurisdictions such as Australia and Europe and, potentially, North America.

S2 Resources will be well positioned to achieve its objectives, having a portfolio of exploration ground which the S2 Board considers to be highly prospective, a pipeline of opportunities, a good funding base, a highly successful team of explorers, and a breadth of corporate experience.

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4	Cash	$22,000,000.00
5	Share on Issue	206,300,788
6	SP (Cash only)	$0.11
7	SP (Cash + Projects)	?

Projects

Polar Bear Project (100%)



The Polar Bear project spans an area of 151 square kilometres, located between Higginsville and Norseman, and is surrounded by the major gold camps of Norseman (10 million ounces), St Ives (12 million ounces) and Higginsville (2 million ounces). In addition, S2 Resources has over 358 square kilometres of ground under application adjacent to the Polar Bear project.

Most of the area is unexplored or ineffectively explored due to it being largely concealed by the shallow salt lake sediments of Lake Cowan and the sand dunes of the Polar Bear peninsula.

The Polar Bear project contains a number of shear zones of the type that host gold mineralisation elsewhere in the district, and also contains southern extensions of the Kambalda and Widgiemooltha ultramafic stratigraphy, which hosts a number of world class nickel sulphide mines along strike to the north.
Baloo Gold Deposit

Reconnaissance aircore drilling of the Baloo gold target at the northern end of Polar Bear has identified a significant zone of gold mineralisation 10 kilometres east of the Higginsville gold mine.

The mineralisation occurs beneath a thin veneer of salt lake sediment, is up to 100 metres wide, 40 metres thick and has so far been defined over a north-south trending strike length of 700 metres. The oxide gold zone at Baloo occurs from a depth of 3 metres, immediately beneath the transported sediments of Lake Cowan. The gold occurs in a thick easterly dipping zone of quartz veining with associated arsenopyrite alteration and elevated levels of tellurium.

The oxide gold zone at Baloo is in variably weathered rock and not merely in transported sediments, suggesting that this may be the top of an extensive mineralised bedrock system. The gold occurs in a thick westerly dipping zone of quartz veining with associated arsenopyrite alteration and elevated levels of tellurium.

Subsequent diamond drilling has intersected thick, high grade zones of primary gold mineralisation in fresh rock beneath and to the south of the oxide gold zone at Baloo. The intercepts have defined a mineralised shoot which plunges gently to the south from beneath the oxide zone. Multiple drill holes have intersected quartz veining with pyrite and arsenopyrite alteration. The mineralised shoot is up to 10 metres thick and 70 metres across, and remains open down plunge to the south. Key intercepts, considered approximate true width, include 7.6m @ 8.35g/t gold from 125.2 metres and 9.8m @ 4.97 g/t from 111.5 metres.
Other gold prospects

The Monsoon gold prospect is located 4 km south of the Baloo Gold Deposit, along the same prospective trend beneath Lake Cowan.  A reconnaissance aircore drilling program on an 80 metre by 40 metre grid has defined sporadic mineralisation over a 1 kilometre strike length, associated with quartz veining and arsenopyrite alteration within a north-northeast trending shear zone on a mafic – shale contact.  The best results achieved to date include 12 metres at 16.9g/t from 68 metres and 32 metres at 2.47g/t from 16 metres.

The Earlobe prospect is well advanced with drill intersections that include 8m @ 5.56g/t, 4m @ 4.95g/t, 2m @ 26.6g/t and 4m @ 6.09g/t gold.  The known gold mineralisation is split into an upper and lower gold lode with individual quartz veins up to 4 metres thick.  Both lodes remain open along strike and down dip and as yet the limits of this mineralisation have not been defined.

At the Bindy and Nanook prospects, reconnaissance drilling has confirmed the presence of extensive gold mineralisation with the Nanook anomaly defined over 2 kilometres and the Bindy anomaly over 1.8 kilometres.  Aircore drill intersections for the Nanook Prospect include 13m @ 23.89g/t, 8m @ 2.89g/t, 6m @ 2.71g/t and 9m @ 2.54 g/t gold. Equally strong results were achieved for the Bindy prospect with 8m @ 3.96g/t gold found within the core of the gold anomaly.
Taipan nickel prospect

Drilling of prospective ultramafic stratigraphy has defined a zone of high grade nickel-copper-cobalt-platinum-palladium mineralisation at the Taipan nickel prospect.

Nickel sulphide mineralisation has been defined over a strike extent of 250 metres and down dip over 150 metres within two zones.  Both zones are open along strike.  RC and diamond intersections include:

• 4.10 metres @ 3.8% nickel, 2.45% copper, 0.08% cobalt, 1.6 g/t palladium and 0.9 g/t platinum from 104.4 metres, including 2.15 metres @ 5.84% nickel, 3.73% copper, 0.12% cobalt, 1.65 g/t palladium and 1.1 g/t platinum from 106 metres;
• 20 metres @ 0.62% nickel, 0.10% copper, 0.02% cobalt, 0.17 g/t platinum and 0.39 g/t palladium from 113 metres including 2 metres @ 1.46% nickel, 0.43% copper, 0.03% cobalt, 1.69 g/t palladium and 0.67 g/t platinum and from 131 metres; and
• 53 metres @ 0.53% nickel, 0.05% copper and 0.01% cobalt from 23 metres.

Disseminated nickel sulphide mineralisation has also been intersected at the base of a thick ultramafic package at the Taipan North prospect, located approximately 2 kilometres north of Taipan.  To date mineralisation has been intersected over a 200 metre strike length and is open along strike and at depth.  RC drill intercepts include 40 metres @ 0.47% nickel, 0.02% copper and 0.01% cobalt from 99 metres, including 5m @ 1.02% nickel, 0.09% copper and 0.02% cobalt from 109 metres.
Halls Knoll nickel prospect

The Halls Knoll gossan, located on an island approximately 1.2 kilometres southeast of the Taipan nickel prospect, has yielded extremely high levels of nickel, copper and platinum group metals indicative of the presence of massive nickel sulphide mineralisation.  Initial drilling intersected disseminated nickel sulphides beneath the salt lake surface, with individual metre values up to 2.5% nickel, 1.5% copper and 1-2g/t palladium and platinum.
Drill intercepts to date include:

• 10.2 metres @ 0.44% nickel, 0.1% copper, 0.25 g/t palladium, 0.1 g/t platinum from 60.8 metres; and
• 9 metres @ 1.02% nickel, 0.22% copper, 0.11 g/t palladium and 0.06 g/t platinum from 2 metres.

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Eundynie Joint Venture (80%)

S2 Resources holds an 80% interest in six exploration license applications, covering 103 square kilometres of ground adjacent to the Polar Bear project (the Eundynie Joint Venture).  The tenement applications cover the northern extension of the Baloo trend.  In addition the project covers portions of the ultramafic stratigraphy considered prospective for nickel sulphide mineralisation.


Norcott Project (100%)

The Baloo gold deposit is in an unusual geological setting that is different to most of the known gold deposits in the Eastern Goldfields, and together with the discovery of the Invincible gold deposit near Kambalda, has demonstrated a new type of exploration opportunity in areas not previously considered prospective for gold.

As a result of this, S2 Resources has expanded its ground holding in the district, applying for an exploration license covering approximately 256 square kilometres of relatively unexplored ground in a corridor to the east of the Polar Bear Project.


Scandinavian Assets

S2 Resources owns 67% of Norse Exploration, which in turn owns 100% of Sakumpu.  Sakumpu is a private Finnish company which is the largest holder of Exploration Reservations in the Central Lapland Greenstone Belt (LGB) of Finland (considered to be prospective for nickel, copper, platinum and gold) and the second largest holder of Exploration Permits in the Skellefteå Belt of Sweden (considered to be prospective for copper, zinc and gold).

S2 Resources will  increase its interest in Norse Exploration to 80% by sole-funding Sakumpu’s exploration program to the end of 2016, provided that Sakumpu achieves certain pre-defined objectives.  Sirius Europa already holds approximately A$2 million in working capital which will be used to fund this exploration program.

Sakumpu is managed in-country by a small team of explorers who have had extensive experience running exploration programs in these countries for companies such as Anglo American plc and Lundin Mining Corporation.

Sakumpu owns 1,306 square kilometres of reservations in the LGB of Finland, which is not extensively or effectively explored, yet contains a number of significant deposits, including Agnico Eagle Mines Limited’s Kittilä gold mine, Anglo American Plc’s recently discovered Sakatti nickel-copper–platinum deposit, and First Quantum Minerals Limited’s Kevitsa copper-nickel mine.

Sakumpu also has 271 square kilometres of Exploration Permits in the Skellefteå - Boliden district of northern Sweden. This area contains a number of significant copper-zinc-silver-gold sulphide deposits, including the Boliden mine, the Kristineberg mine, and the Storliden mine, and also contains the Bjorkdal gold deposit.



Our Board and Senior Management

Jeff Dowling

Non-Executive Chairman
Jeff was recently Sirius’ non-executive chairman and is a highly experienced corporate leader with 36 years' experience in professional services with Ernst & Young. Jeff has held numerous leadership roles within Ernst & Young which focused on the mining, oil and gas and other industries. Jeff's professional expertise centres around audit, risk and financial acumen derived from acting as lead partner on large public company audits, capital raisings and corporate transactions. Jeff's career with Ernst & Young culminated in his appointment as Managing Partner of the Ernst & Young Western Region for a period of 5 years. Jeff also led Ernst & Young's Oceania China Business Group, responsible for building Ernst & Young's Oceania relationships with Chinese Corporations.
Jeff has a Bachelor of Commerce from the University of Western Australia and is a fellow of the Institute of Chartered Accountants, the Australian Institute of Company Directors and the Financial Services Institute of Australasia.

Mark Bennett

Managing Director / Chief Executive Officer
Mark was the managing director and CEO of Sirius from its inception to its merger with Independence Group, and was recently appointed as a director of Independence Group following the merger.
He is a geologist with 25 years' experience in gold, nickel and base metal exploration and mining. He holds a BSc in Mining Geology from the University of Leicester and a PhD from the University of Leeds and is a Member of the Australasian Institute of Mining and Metallurgy, a Fellow of the Geological Society of London, a Fellow of the Australian Institute of Geoscientists and a Member of the Australian Institute of Company Directors.
He has worked in Australia, West Africa, Canada and Europe, predominantly for LionOre Mining International Limited and WMC Resources Limited at locations such as Kalgoorlie, Kambalda, St. Ives, LionOre's nickel and gold mines throughout Western Australia, Wiluna and most recently Nova, the Fraser Range and Polar Bear. Positions held include various technical, operational, executive and board positions including Managing Director, Chief Executive Officer, Executive Director, Exploration Manager and Chief Geologist.
Mark is a two times winner of the Association of Mining and Exploration Companies "Prospector Award" for his discoveries which include the Thunderbox Gold Mine, the Waterloo nickel mine and most recently the world class Nova-Bollinger nickel-copper mine.
In addition to his technical expertise, Mark is very experienced in corporate affairs, equity capital markets, investor relations and community engagement and has led Sirius from prior to the discovery of Nova all the way through feasibility, financing, permitting and construction, and latterly through the schemes of arrangement to merge with Independence and to demerge S2.


Anna Neuling

Executive Director
Anna was the Company Secretary and CFO of Sirius from the company's inception in 2009 and was Sirius’ Executive Director – Corporate and Commercial until its recent merger with Independence Group.
Anna worked at Deloitte in London and Perth prior to joining LionOre Mining International Limited in 2005, until its takeover by Norilsk Nickel.  She holds a degree in mathematics from the University of Newcastle (UK).
She is a Fellow of the Institute of Chartered Accountants in England and Wales and has held a number of senior executive positions in the resources industry, including CFO and Company Secretarial roles at several listed companies.
She is responsible for the corporate affairs of the company, the company secretarial function, human resources, public and investor relations functions, and general commercial matters.


Jeffrey Foster

General Manager Project Generation
Jeff is a geologist with over 20 years worldwide experience in various roles for WMC Resources Limited and BHP Billiton Limited, and as a director of the Brisbane-based consultancy Geodiscovery group. He was recently General Manager - Project Generation for Sirius and is a former executive director of Sirius. He holds BSc and MSc degrees and is also Adjunct Professor at the ARC Centre of Excellence in Ore Deposits at the University of Tasmania.
He is a recognised authority on nickel deposits, having advised several multinational mining companies and published numerous papers on the subject, and has been involved in the targeting and discovery of nickel sulphides in Canada.


John Bartlett

General Manager Exploration
John is a geologist with over 20 years' experience in gold, nickel and base metal exploration and mining. He was recently General manager - Exploration for Sirius. He holds a BSc (Hons.) in Geology from the University of Tasmania and is a Member of the Australasian Institute of Mining and Metallurgy.
John has worked predominately in Australia and Indonesia with LionOre, INCO and Newexco, and has been involved in the discovery of a number of economic deposits, including the Southern Star gold mine, the Lounge Lizard nickel mine, the Nova-Bollinger Project and most recently the Baloo Gold Deposit.


Su-Mei Chan

Chief Financial Officer
Su-Mei is a member of the Certified Practicing Accountants Australia since 2008 with fourteen years' experience in public practice and company accounting.  Her knowledge and skills are predominantly within the mining resources sector with companies such as Terex Mining Australia Pty Ltd, Apex Minerals NL, Consolidated Minerals Limited and most recently as Financial Controller at Sirius Resources.