Managing risk: Gold, Diamonds & Iron Ore exploration in West Africa

1. Managing risk:Gold, Diamonds & Iron Oreexploration in West Africa The Geological Society London, September 2008

2. Risks • Rewards • Success factors

3. Company Overview • Diversified mineral exploration & development company with a core focus on identifying resource opportunities in west Africa. • Three distinct divisions: Gold, Iron Ore & Diamonds. • Balanced portfolio of assets: near term cash flow and production & medium term growth potential. • Strong institutional shareholders: • JP Morgan, Fidelity, Hermes, Saracen, New City, GAIA • Credible partners: • Severstal, BHP Billiton, Petra Diamonds, De Beers, Trans Hex London, June 2008

4. Strategy • Ensure transparent valuations for all three core divisions • Advance near term production assets to create cash flow • Add medium term value by rapidly advancing exploration projects London, June 2008

5. Highlights of last 12 months • New management in place to deliver on the next phase of development • Agreement signed with Severstal to advance the Putu Range Iron Ore Project • Completion of an intermediary drilling programme at New Liberty Gold to increase confidence & expand resource • Solidified plans to list Stellar Diamonds with £7.4m financing London, June 2008

6. The Board of Directors London, June 2008

7. West African Focus • A primary focus on Liberia, Sierra Leone and Guinea. • Emerging west African democracies with increasing political stability and increasing foreign investment. • Well established mining industries following a long history in the extractive sector, a key driver for economic growth. • Attractive fiscal terms in chosen countries. • Improving infrastructure. • Major players operating & investing in the region. London, June 2008

8. Mano River Resources in West Africa • Experience & expertise – a long history of operating in west Africa • Excellent resource base across three countries • First mover status – well positioned to capitalise on future growth opportunities • Attracted high quality strategic JV partners to advance projects • Stepped outside traditional geographic focus into North DRC through JV between Stellar & BHPB London, June 2008

9. Chosen Commodities – Market Overview • Long term outlook is strong in gold, diamonds & iron ore • Supply demand factors governed in part by China & India’s appetite • Gold  $890oz (minimum 1.5Moz) • Diamonds  20-25% increase in 2008 (production this year) • Iron Ore  60-80% price increase in contracts for 2008 (targeting 900Mt) • Liberia as an Iron Ore Producer - Previously 6th largest exporter London, June 2008

10. Iron Ore • Putu Range Iron Ore Project, Liberia • Located in Grand Gedeh County in eastern Liberia • First explored in 1950s & 1960s established a resource of 455Mt at grades ranging between 45-65% • Exploration focussed on the Mt. Jideh Ridge – 12km strike length London, June 2008

11. Putu Range Iron Ore Project Significant developments to date: • Severstal Agreement • Agreed to invest up to US$22m into Mano directly & US$30m into AIOG to earn up to 61.5% to take the project through to BFS • Severstal is a leading Russian steel and mining company with expertise in mining iron ore deposits • 5,000m drilling programme underway to further delineate the resource and further establish the quality & quantity of the resource. • SRK Report – targeting 900Mt. • Historic 218m adit rehabilitated - sampling completed. • Phase 1 of rail route study completed. • Environmental Impact Assessment (EIA) performed. London, June 2008

12. Iron Ore Division – Goals Fast track development through to production: • Further delineate the Mt Jideh resource • Convert exploration licence to an Mineral Development Agreement (MDA) • Optimise points for port & rail • Deliver a Bankable Feasibility Study (BFS) London, June 2008

13. Gold • New Liberty Gold Mine North West Liberia • Positive feasibility completed for open pit operation in early 2007 • Now targeting 2-3Moz London, June 2008

14. New Liberty Gold Mine Significant developments to date: • Completion of a positive feasibility study in early 2007 • New strategy to examine underground potential • 2008 2,688m resource & delineation drilling programme completed • 6 holes 200-300m • 2 holes 500-600m • Initial results encouraging for the development of an underground operation • K-115 23m grading 4.95 g/t gold (including 12m at 9.12g/t) • K-116 31m grading 3.59 g/t gold (including 17m at 7.03 g/t) • Mineral Corporation of South Africa commissioned to review database to define further targets on Mano’s licence area London, June 2008

15. Gold Exploration • Weaju Property • Liberia • Gondoja • Liberia • Golden Star Resources JV • Sierra Leone Photos of exploration projects London, June 2008

16. Gold Division – Goals • Allocate funds from Severstal deal to fast track development • Redefine resource at NLGM • Initiate new feasibility study • Advance exploration activities in Liberia, Sierra Leone and Guinea. London, June 2008

17. Stellar Diamonds • An integrated diamond explorer with production in 2008 from Guinea and underground bulk sampling of kimberlite fissures in Sierra Leone, 63% owned by Mano River • Regional focus: Sierra Leone, Guinea, Liberia and the DRC • Independently managed with dedicated Board • AIM Listing, subject to market conditions • 7.4m pre-IPO financing to date London, June 2008

18. Kono “Lion” Kimberlite Dykes - Sierra Leone • 49:51 JV with Petra Diamonds • Underground bulk sampling focusing on two shafts • Grades between 65 & 75cpht • Diamond value of $200/ct forecasted • Largest diamonds 10.55 carats valued at $31,200 • Initial parcel weighing +800 carats sent to South Africa for valuation • 1,049 diamonds from trial mining to date • First tender scheduled for August 2008 London, June 2008

19. Mandala Diamond Mine - Guinea • 100% owned project. • 536,000 carat indicated resource, 144,000 carat inferred resource. • $65/ct estimate. • Largest diamond 21.47 carats. • Construction of MB100tph DMS plant completed & shipped early June 08. • Mine fleet on site since early 2008. • Production to commence H2 2008. • Attractive margin / low capex mining operation giving early cash flow. London, June 2008

20. Stellar’s Exploration • Advanced Exploration • Tongo Project • Sierra Leone • BouroKimberlite Project • Guinea • Early stage exploration • BHP JV • DRC • Transhex JV • Liberia • MCA/Alpha • Liberia • North Bea • Liberia London, June 2008

21. Stellar Diamonds – Goals • Complete additional private placement • Mine decision on Kono • Commence commercial operations – bring Mandala to production • Advance exploration at Tongo & other activities including DRC • List Stellar on AIM, subject to market conditions London, June 2008

22. Performance of a Junior • 1998 to 2008

23. Key ‘ingredients’ • Luck • Timing • People • [Technology] • Funding • Mano has raised in total more than US$47m since 1997

24. The reality • Competition is high • 191 AIM miners • £2.5bn raised in 2007 • Mainly before June • Only £370m in Q4 • H1 2008 raised £820m • 91% or £743m from secondary issues

25. Quarterly trend of funds raised on AIM by mining companies

26. Performance of shares since listing (at 31 July 2008)

27. Cash reserve estimates (June 2008)

28. Summary • Risks • Political & ultimately a funding one • Geological • Rewards • Can be high • Success • Diversification • Anticipating trends or reacting to trends in time • Personal belief & drive

29. Disclaimer • This presentation has been compiled by Mano River Resources Inc (“the Company”) for information purposes only and is not advice upon which it is intended that recipients should rely in deciding whether or not to invest in the Company. It is provided solely for use by recipients to consider the proposed business of the Company and is not an offer of shares or an invitation to subscribe for shares or to make any loan or other funding available to the Company. This document is only being distributed to persons who are reasonably believed to be sufficiently expert to understand the risks involved as described in the Financial Services and Markets Act (Financial Promotions) Order 2001. • The recipients accept that they will make their own investigation, analysis and decision relating to investing in the Company and will not rely upon or use this document to form the basis or any decision on such an investment. This document does not take into account the particular investment objectives, financial situation or the needs of individuals investors and you should consider whether it is suitable for your circumstances and, if necessary, seek professional advice. • The directors and advisers of the Company make no representation or warranty themselves, express or implied, as to the accuracy, reasonableness or completeness of the information contained in this document and it should not be relied upon as such. It contains statements and estimates with respect to the future anticipated performance of the Company. Such information may or may not prove to be correct. To the extent that it is lawfully able to do so, the Company and its advisers exclude liability for any representation or as to the accuracy of such statements, estimates or projections. • This document is confidential. It is only for the use of those to whom it is issued. It must not be copied or distributed to third parties (other than in confidence to the recipient’s professional advisers). • The Company’s affiliates, officers, directors, advisers and employees, including persons involved in the preparation or issuance of this document may from time to time have holdings in the Company’s securities. London, June 2008