Apollo Minerals Limited Dominic Tisdell – Chief Operating Officer ABN 96 125 222 924 T +61 2 9078 7665 Level 9, 50 Margaret St SYDNEY NSW 2012 Tony Dawe – Investor Relations T +61 2 9078 7665 F +61 2 9078 7661 1 T +61 8 9388 0944

Friday, 22 March 2013

APOLLO MINERALS LIMITED (ASX: AON) Hong Kong Mines & Money Presentation The Company will be presenting today at the 2013 Mines & Money Conference in Hong Kong (10.30am Hong Kong Time). A copy of the presentation is attached. Dominic Tisdell Executive Director

For

per

sona

l use

onl

y

April 2012

www .apollominerals .com.au

Prepared to make a giant leap

Investor briefing March 2013

For

per

sona

l use

onl

y

This presentation has been prepared by Apollo Minerals Limited (“Apollo” or the “Company”). It should not be considered as an offer or invitation to subscribe for, or purchase any, securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation.

This presentation contains forecasts, projections and forward-looking information. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of Apollo’s control. Actual results and developments will almost certainly differ materially from those expressed or implied. Apollo has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this presentation. To the maximum extent permitted by applicable laws, Apollo makes no representation and can give no assurance, guarantee or warranty, expressed or implied, as to, and takes no responsibility and assumes no liability for:

1. the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this presentation, and

2. without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward-looking information contained or referred to in this presentation.

Throughout this presentation all figures are quoted in A$ dollars unless otherwise stated. You should not act in reliance on this presentation material. This overview of the Company does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of Apollo’s prospects. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

2 Disclaimer F

or p

erso

nal u

se o

nly

ASX Code: AON

Shares: 299.3m

Unlisted securities: 77.8m

Market Cap: $20.1m

Cash, 22 Mar 2013: $3.0m

Tony Ho - Chairman

Dominic Tisdell - Exec. Director, COO

Richard Shemesian - Exec. Director

Matthew Rimes - Non-Exec. Director

Executive and Board

3

Source of funds

Company overview Well placed for significant growth

Company overview

Iron ore focused

Multiple projects

PFS Stage in SA

High quality products

Base metals potential

Retail (58%)

Capital structure

Sear

chin

g fo

r el

eph

ants

… in

Oz.

Apollo Minerals

Fortescue Metals Group

Iron Ore Holdings Iron Road

IronClad Mining

12 Month Share Price Performance

For

per

sona

l use

onl

y

Iron ore developer …but keeping an eye on the other metals!

4

Fe Direct Shipping Ore (DSO) Style Mineralisation

Super Premium Fe Concentrates

IOCGU and Ni-S

1

2

3

...with strong potential for significant base and precious metals. Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

Steel Iron Ore &

Coal Mining Power

Generation Hot Briquetted

Iron (HBI) Pellet Plant

Leading Indian player in steel, power, mining, oil & gas and infrastructure

Publicly listed in India, market cap of US$12bn

FY2011 revenues of US$3.6bn, cash profit of US$1.1bn

Expanding presence across Asia (Oman, Indonesia, Mongolia and China), Africa (Mozambique, South Africa, DRC and Madagascar), South America (Bolivia and Brazil), Australia and Georgia

Committed to protecting the environment and social development

Corporate Snapshot

5 Jindal Steel & Power Apollo’s newest significant shareholder

Locations

3 mtpa 15 mtpa 2,113 MW 1.5 mtpa 5 mtpa

Jindal Shadeed, Oman – 1.5 mtpa HBI plant Evaluating the use of Apollo Minerals iron ore products

Jindal Steel & Power Operations Map

Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

NewCo (Iron Ore)

Commonwealth Hill

Kango North Mt Oscar

6 Proposed demerger Simple structure, maximum value

Sear

chin

g fo

r el

eph

ants

… in

Oz.

Apollo Minerals (Base-Precious

Metals)

Titan non-ferrous mineral rights + EL4433 farmin

Mt Oscar non-ferrous mineral

rights

NewCo makes an in-specie distribution of shares to Apollo Minerals shareholders

Invests $10m

NewCo value post deal circa $20m

Separation of assets into two listed companies creates a clear commodity focus

NewCo (Iron Ore) supported by new $10m investment for a circa 51 – 54% controlling interest

Existing cash (circa $3m post a successful SPP) remains with Apollo Minerals for base-precious metals exploration, transaction costs and working capital

Apollo Minerals shareholders retain a proportional interest in NewCo (Iron Ore) via in-specie distribution

For

per

sona

l use

onl

y

7 Titan Base Metals Project An emerging base metals hot spot

???

Sear

chin

g fo

r el

eph

ants

… in

Oz.

Situated along regional Coorabie Fault and its splays

Area of 1,450km2 – high potential IOCGU frontier

Junction of world recognised Thompson Nickel Belt analogue and high potential IOCGU terranes

Unexplored for either mineralisation style

For

per

sona

l use

onl

y

8 Titan Base Metals Project Widespread evidence of base metals

???

Sear

chin

g fo

r el

eph

ants

… in

Oz.

Historic evidence of widespread base and precious metals mineralisation

Area covered by a thin but pervasive blanket of transported sediments and sand

Fresh basement typically intersected between 75 – 150m below surface

Very little geophysics done historically apart from AMAG

For

per

sona

l use

onl

y

9 Titan Base Metals Project High potential IOCGU target: Acacia East

???

Sear

chin

g fo

r el

eph

ants

… in

Oz.

Strong EM conductors indicative of massive sulphides

Surface rock samples returned up to 45.4% Fe, 0.31% Cu and 99 g/t Ag

Very large 4.2km x 1.6km dense body suggestive of iron ore mineralisation

Co-incident gravity high, magnetite alteration, EM conductors and surface base metals adjacent to major fault = ideal setting

GS1 EM

conductor

For

per

sona

l use

onl

y

10 Acacia East IOCGU Target Highly anomalous base metals in calcretes

???

Sear

chin

g fo

r el

eph

ants

… in

Oz.

Wide ranging and highly anomalous base and precious metals above strong EM conductor and gravity high

Highly anomalous ‘pathfinders’ indicative of copper sulphide and IOCGU mineralisation

Best precious metals results include:

1.6 g/t platinum

1.2 g/t silver

GS1 EM conductor plate model

1 mgal residual gravity outline

Regional 99th percentile

Surface Copper Surface Silver

For

per

sona

l use

onl

y

Potential for very large resource and long mine life

Lower risk processing

Demonstrated high quality, high value products

Lower capital cost options

No need to build ‘Port Apollo’

No need to build ‘Apollo Rail’

Competitive operating costs

Opportunity to scale operations up to over 5Mtpa

11

Key Characteristics

Commonwealth Hill A competitive iron ore development

Giffen Well (WPG)

OneSteel: $300m

SA has 2 new iron ore producers as of 2012

Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

12 Excellent infrastructure 3rd party, multi-user rail and port services

1st class rail services

At Commonwealth Hill iron ore deposit and prospects

High quality below rail engineering

Above rail competition

Rolling stock leasing

New, competitive port and ship loading services at Port Pirie

Basic port operational

Direct connection to rail network

Easily reconfigurable and expandable

Gina rail siding at Commonwealth Hill Nearby Rankin Dam rail siding (ASX: IXR)

Port Pirie – site of proposed 3rd party, multi-user iron ore transhipment services

Potential ship loading site

Existing rail corridor

Potential warehouse site

Illustration of similar iron ore warehouse (PDC Consultants) Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

13 Premium products High purities at exceptional sizings

Adelaide to

Darwin railway

Concentrate Grades

Company Project Grind Size Fe SiO2 Al2O3 S P

(P80 µm) % % % % %

Apollo Minerals Commonwealth Hill 143 69.4 2.3 0.36 0.01 0.01

Equatorial Resources Mayoko 63 68.9 3.7 0.11 0.01 0.01

Xstrata Mauritania 80 70.2 1.8 0.22 n/a n/a

African Iron Mayoko 59-65 69.4 3.1 0.22 0.03 0.01

Bellzone Kalia 65 68.7 3.9 0.14 0.32 0.01

Xstrata Zanaga 65 66.1 4.5 0.2 n/a n/a

Gindalbie Karara 35 68.8 4.2 0.08 0.08 0.01

Sources: Equatorial Resources (May 2012), Apollo Minerals

69% Fe Sequoia Concentrate

(P80 = 143 µm)

Sought after haematite sinter fines product at circa 60% Fe

Super premium blended sinter fines product at 67-68% Fe

High quality magnetite pellet feed at 69% Fe

Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

14 Positive Scoping Study Long-life, high quality

Simple processing and infrastructure paths identified and assessed

Mineable inventory of 131Mt Run of Mine (ROM)

Initial strip ratio of 0.5:1, LOM 1.1:1 (tonnes of waste per ROM tonne)

Open cut mine life of approximately 17 years at 2.5Mtpa sales

Sales of 42Mt at 68.8% Fe at an exceptionally coarse sizing of approx. P80 150µm

Long-term FOB cash cost of US$64/t, (dry, 62% Fe, Pilbara FOBeq basis)

Direct start-up capital expenditure of US$333M, including studies

Strong potential identified to scale the operations up to over a 5Mtpa sales rate for more than 20 years via the processing of iron ore from the Ibis Prospect

Opportunities identified to further reduce the unit capital and operating costs during the Pre-Feasibility Study stage

Sequoia Scoping Study Highlights

Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

15 Positive Scoping Study …with opportunity for further enhancement

Operating Costs A$/t US$/t

Mining & rehabilitation 22.3 19.1

Processing 22.6 19.4

Product logistics 34.6 29.6

FOBwet cash costs ex-Port Pirie 82.0 70.2

62% Fedry, Pilbara FOBeq cash cost 74.8 64.0

Capital Costs US$M

Studies and approvals 16

Process plant 182

Process infrastructure 91

Logistics 44

Direct capital total 333

EPCM and contingency 100

Opportunities identified to reduce operating costs by another $5 - $15/t

Potential exists to further reduce total unit capital to $120 – 140/t

Notes:

Costs - All costs are expressed in US dollars based on forecast USD AUD exchange rates of 2013: 1.025, 2014: 1.025, 2015: 1.000, 2016: 0.950, 2017: 0.900, 2018 onwards: 0.850

Dry, 62% Fe, Pilbara FOBeq basis costs: These product cash costs are expressed as equivalent cash costs assuming the product is being exported from Port Hedland at a grade of 62% Fe. Adjustments to the costs are made to reflect the fact that the Sequoia products are much higher grade and are being exported from Port Pirie. Typically, Australian iron ore products are expressed relative to the 62% Fe index ex-Port Hedland. Se

arch

ing

for

elep

han

ts…

in O

z.

For

per

sona

l use

onl

y

Helping develop Africa’s iron ore industry

16

Kango North location map

Kango North Project Highlights

Granted ~400km2 iron ore and gold Exploration

Licence

Gabon - one of Africa’s most politically stable and

economically developed countries

Iron ore occurrences exist over > 20km strike

Exceptional product quality estimated at >69%

Fe with very low levels of impurities

1st class location – close to existing port, 10

mtpa rail, road and two hydroelectric dams

Potential to discover significant at-surface DSO

deposits

Apollo retains 70% controlling interest

Kango North

(Apollo Minerals)

Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

17 Kango North Project Product quality

Early indications of exceptional product qualities

DTR testing carried out by AMDEL, Adelaide on

samples of surface and near-surface BIF

Very high quality iron ore concentrate produced

with a very high mass recovery (49%) and coarse

grind size (75µm)

Operating cost implications superior to many

other magnetite projects from around the world

Potential to produce DRI-grade concentrates or

quality sinter fines products

Head

Mass Fe

Fe Recovery Recovery Fe SiO2 Al2O3 P S LOI

% % % % % % % % %

41.1 49.2 83.5 69.7 0.9 0.25 0.004 0.004 -2.0

DTR Concentrate Results

Sear

chin

g fo

r el

eph

ants

… in

Oz.

For

per

sona

l use

onl

y

18

Investor Contact:

Dominic Tisdell

Chief Operating Officer

Ph: +61 2 9078 7660

dominic@apollominerals.com.au

ASX Code: AON

The information in this document that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Derek Pang, a Member of The Australasian Institute of Mining and Metallurgy. Mr Pang has over 15 years’ experience in mineral exploration and is a full time employee of Apollo Minerals Limited. Mr Pang has sufficient experience relevant to the style of mineralisation and 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’. Mr Pang consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The potential quantity and grade of Apollo’s Projects are conceptual in nature and there has to date been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

For

per

sona

l use

onl

y