Clean install Mountain Lion from a partitioned hard drive?

[Mac.]

Hi, I've just downloaded Mountain Lion from the App Store, and I wanted to do a clean install over Lion 10.7.5.

The problem is, the only way of me copying the install file is to my 1TB hardrive as I only have a USB in 4GB and a DVD-R isn't large enough either.

My hardrive is partitioned into 3:

Partition 1: Time Machine
Partition 2: Mac OS Extended (Jounaled)
Partition 3:ExFAT

Will I have problems re-installing my files with Time Machine if the installer is on a different partition?

I hope I've written this clear so you guys understand. Thanks.

 

[Weaselboy]

Here is what I would do. I would shrink your Partition 2 by 5GB and add a new 5GB partition in that space (we'll call it P4). Then use this free app along with the 4.7GB installer your downloaded to make a bootable installer on P4.

Then option key boot and select P4 (now your ML bootable installer). Once it starts use Disk Util to erase Macintosh HD on P2... then install Mountain Lion.

 

[Mac.]

Thanks, I'll give it a go.