REDFERN RESOURCES LTD.

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• REDFERN RESOURCES LTD.
• TULSEQUAH CHIEF
• PROJECT

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Cautionary Statement

• These materials present a review of the Tulsequah
  Chief project in British Columbia. Readers are
  cautioned that the Project is at a relatively
  early stage and that all estimates and
  projections contained herein are based on limited
  and incomplete data. More work is required
  before the mineralization and the Projects
  economic aspects can be confidently modeled.
  Therefore, while the work results, estimates and
  projections herein may be considered to be
  generally indicative of the nature and quality of
  the Tulsequah Chief project, they are not
  definitive. No representation or prediction is
  intended as to the results of future work, nor
  can there be any promise that the estimates and
  projections herein will be sustained in future
  work or that the Project will otherwise prove to
  be economic.
•  
• These materials include certain forward-looking
  statements within the meaning of the Private
  Securities Litigation Reform Act of 1995. All
  statements, other than statements of historical
  fact, in this material, including, without
  limitation, statements regarding potential
  mineralization and resources, exploration
  results, estimated future production and future
  plans and objectives of the Company, are
  forward-looking statements that involve various
  known and unknown risks, uncertainties and other
  factors. There can be no assurance that such
  statements will prove to be accurate and actual
  results and future events could differ materially
  from those anticipated in such statements.
  Readers are cautioned not to place undue reliance
  on these forward-looking statements that speak
  only as of the date of these materials.
  Important factors that could cause actual results
  to differ materially from the Companys
  expectations include, among others, the factual
  results of ongoing exploration activities,
  conclusions of any pre-feasibility or feasibility
  studies, changes in project parameters, as well
  as future metal prices. All subsequent written
  and oral forward-looking statements attributable
  to the Company or persons acting on its behalf
  are expressly qualified in their entirety by this
  notice.

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Location Map
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Property Map
150 square kilometers
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Introduction

• Precious-metal rich volcanogenic massive sulphide
  deposit
• 160 km south of Atlin BC
• 100 owned by Redfern Resources Ltd., a wholly
  owned subsidiary of Redcorp
• Advanced-stage project
• Resource defined through drilling from 1987 to
  1994
• Feasibility Study completed in 1997

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Introduction (cont.)

• Received Project Approval Certificate from BC
  Government in December of 2002
• 10,000 meters drilled during 2003 field season
• Discovery of new sulphide lens
• 1.9 Cu, 6.5 Zn, 1.8 gpt Au, 80.1 gpt Ag over
  5.4 meters
• Confirmation of high grade gold zones
• 14.6 gpt Au, 439.3 gpt Ag over 7.6 meters
• Expansion of main deposit
• Confirmation of main deposit continuity
• 2.4 Cu, 7.1 Zn, 4.3 gpt Au, 135 gpt Ag over
  21.7 meters
• Confirmation of potential for significant
  resource expansion

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Sociopolitical Status

• BC and Yukon governments are pro-mining
• US and Alaska no longer oppose project (new
  administration is pro development)
• Strong local community support
• A large number of local First Nations members in
  favour of mine
• Key legal issues have been dealt with

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Tulsequah Chief Resource Estimate
OPEN FOR EXPANSION

• The resource estimate for the Tulsequah Chief
  deposit pre-dates National Instrument 43-101 and
  disclosure here is of a historical estimate. The
  source of this estimate is a calculation
  completed by the Company and verified by Rescan,
  both in 1994, based on 80 diamond drill holes
  representing some 40,000 meters of drilling. The
  technical report to accompany this resource
  estimate forms part of the 1995 Feasibility Study
  and the Qualified Person for this estimate is
  Terry Chandler, P.Geo. This historical estimate
  is relevant as it is the most recent estimate
  completed for the project. The reliability of
  the estimate is compatible with the standards set
  by NI 43-101. The Feasibiity Study was updated in
  1997 by Rescan, however, as the reserve used in
  the Feasibility Study incorporated a portion of
  the inferred resources, it would be more properly
  termed a Preliminary Economic Assessment as
  defined under National Policy 43-101.

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Metal Content

• FORECAST PAYABLE CONTAINED
• METAL ANNUAL PRODUCTION MI Inferred
• _at_900,000 tpy Resource Resource
• Gold (oz) 57,600 495,000 233,000
• Silver (oz) 2,310,000 20,510,000 10,400,000
• Copper (lb) 22,160,000 188,900,000 73,900,000
• Lead (lb) 9,940,000 167,600,000 80,000,000
• Zinc (lb) 98,200,000 894,100,000 428,700,000
• Gold Equivalent oz. 91,000 788,000 381,000
• (Au and Ag only at Ratio of 70 Ag to 1 ounce Au)

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Net Smelter Return estimate

• Metal Metal Price US NSR/tonne
  Annual NSR
• CAN CAN
• Gold 385/oz 23.26 20,900,000
• Silver 5.75/oz 13.92 12,500,000
• Copper 1.05/lb 24.15 21,700,000
• Lead 0.32/lb 3.36 3,000,000
• Zinc 0.50/lb 50.98 45,900,000
• Net Smelter Return 115.66 104,000,000
  
• After deduction of all smelter treatment and
  distribution costs
• at full production rate of 900,000 tonnes per
  year
• Exchange Rate 0.73
• utilizing 1997 Feasibility Study economic
  model

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Gold in Massive Sulphide
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Gross Metal Values for Worldwide VMS Deposits
Greens Creek
Tulsequah
CDN
Myra Falls
Kidd Creek
Flin Flon
Mattagami
Louvicourt
Horne
Reforma
Aljustrel
San Nicholas
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Project Site Overview
Shaza Creek
Plantsite
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Deposit Area Geology
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Deposit Area Vertical Section
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Schematic Down-Plunge Section
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Longitudinal Section - 2003
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Longitudinal Section July 2004
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2004 Drill Intersection Table
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Expansion PotentialF Anticline and Down-Plunge
N1900I
F Anticline Potential
700 m
G Zone Potential
Down-plunge Potential
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Expansion Potential

• F Anticline and In-Mine Potential
• Down-Plunge

• 5200 Syncline
• gt 2 km strike length of same stratigraphy which
  hosts deposits. Several alteration zones with
  disseminated mineralization.

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5200 Syncline Target
F Anticline
Strong QSP Alteration and disseminated mineralizat
ion along the same stratigraphic interval which
hosts the Tulsequah deposits
5200 Syncline
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Expansion Potential

• F Anticline and In-Mine Potential
• Down-Plunge
• 5200 Syncline

• Felsic Stratigraphy between Tulsequah Chief and
  Big Bull

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Prospective Stratigraphy
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Exploration Potential
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Expansion Potential

• F Anticline and In-Mine Potential
• Down-Plunge
• 5200 Syncline
• Felsic Stratigraphy between Tulsequah Chief and
  Big Bull

• Big Bull

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Big Bull Drill Intersections
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Summary

• High-grade, advanced-stage polymetallic deposit
  with high precious metal content
• Significant established resource
• Project Approval Certificate and Special Use
  Permit for access road received December 2002
• Excellent metallurgy
• Independently verified
• Very high gold and silver grades and recoveries

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Summary (cont.)

• Excellent exploration potential
• Expand existing deposit
• Low risk in mine exploration for adjacent
  deposits
• Second deposit probable at Big Bull
• High potential for new discoveries on large
  property