Metmar Tin PlayFebruary 2013

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Metmar Tin Portfolio

• Alphamin Resources (Congo)• Metmar holds 9,935,000 shares in Alphamin (+-8.8%)

- Alphamin shares in issue - 103,444,571- Options in issue - 4,150,000- Warrants in issue - 5,100,000

• Kivu Resources (Rwanda)• Metmar is a 32.4% shareholder in Kivu Resources• Kivu Resources is the controlling shareholder in Gatumba Mining Concessions

(GMC), which has exploitation rights to 3 concessions in Rwanda.

• Somima (Congo)• Metmar has an exclusive 3 year tin offtake agreement with Somima

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Alphamin Resources

 Bisie Project Location

• 5 permits covering 1,470 square kilometers• MPC has full legal title• Tenements 100% owned by MPC• AFM recently acquired 100% of MPC• Force majeure lifted on PR5266 which contains Bisie deposit

Source: Alphamin Resources

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Alphamin Resources (cont)

Bisie Tin Project

• Discovered in 2004• High grade tin mineralisation• Ridge transgresses PR 5266 for more than 9km• Mined extensively by artisanal miners to 80m below surface• Unique style of mineralisation which includes high grade tin, copper, zinc, lead,

silver and rare earth minerals

• Targeting >500,000 tonnes of tin metal

Source: Alphamin Resources

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Alphamin Resources (cont)

 Bisie Drilling Results

• Alphamin recently completed a 2,406m drilling programme (Stage 1) to test the true width and grades of tin mineralisation at both target areas. Best results included:

- 25.85m @ 2.26% Sn from 47.65m including 5.8m @ 8.55% Sn

- 18.5m @ 2.21% Sn from 53m including 2.9m @ 6.27% Sn

- 12m @ 3.15% Sn from 53m & 3m @ 6.14% Sn from 80m

- 11m @ 1.48% Sn from 71m including 2.5m @ 5.76% Sn

Source: Alphamin Resources

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Alphamin Resources (cont)

Source: Alphamin Resources

 Bisie Drilling Results

• Copper and rare earth element (Cerium and Lanthanum) mineralisation is commonly associated with the tin rich zone. Significant results included:

- 9.4m @ 1.01% Cu from 67m including 3.5m @ 2.15% Cu

- 35m @ 0.77% Cu from 53m including 10m @ 1.67% Cu

- 10.1m @ 0.1% Ce from 162m

• Drilling further identified a zone rich in silver, zinc and lead mineralisation. Best results included:

- 19m @ 197g/t Ag- 17.7m @ 14.11% Zn including 13m @

18.08% Zn- 14.75m @ 10.82% Pb

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Kivu Resources

 Gatumba Mining Concessions (GMC) Location

• GMC holds three concessions in Rwanda:- Gatumba South - 9290 ha (SnO2, Ta2O5-Nb2O5)- Rugendebari - 7224 ha (SnO2, Ta2O5-Nb2O5, WO)- Bijyojyo - 4348 ha (SnO2, Ta2O5-Nb2O5)

Source: GMC

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Kivu Resources (cont)

 GMC Exploration Activities

• Extensive drilling program undertaken during 2009• 9,860 meters of reverse circulation drilling• Primary focus area Gatumba South concession• JORC/SAMREC compliant resource on Gatumba South (only one area of

Gatumba South concession has been drilled)

Source: GMC

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Kivu Resources (cont)

 GMC Work Programme

• GMC recently re-capitalised with USD 7.4 million• All creditors settled• Plant and Machinery purchased:

- Earth moving & drilling- Crushing, screening & gravitation- Ancillary

• 100 tpm expected in H2 2013

Source: GMC

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Somima

 Somima Location

• Somima is in the process of applying for 9 concessions encompassing tin, tantalum, tungsten, gold, copper, etc.

• Mining activity on these concessions dates back to the 1950’s• Somima recently re-commenced mining activities• Somima is iTSCi registered. Await iTSCi export mechanism (bagging

operation)• Metmar will market Somima's tin globally on an exclusive basis

Source: Somima

Kivu Province (Alphamin)

Maniema Province (Somima)

Katanga Province (Manono)

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Tin Price Evolution

Supply and Demand

• Tin has the lowest annual production of the base metals (+-360,000 tons compared to 20 million tons of aluminum)

• Global demand is expected to rise to an all time high of 366,000 tons in 2012 & is expected to rise 3-4% in 2013

Source: Alphamin Resources

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World Tin Mine Production

Asian countries dominate production, very few developed world tin miners

Source: ITRI/Greenfields Research

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World Tin Mine Production (cont)

Asian mining in decline, replaced by developed world production

Source: ITRI/Greenfields Research

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Main Changes in Mine Production

Forecast change from 2010 – 2015, tpy

Source: ITRI

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Larger Undeveloped Tin Resources

***No mention of Central African Tin Belt (DRC, Rwanda)***

***Highest reported grade 2.0% Sn, average 1.2% Sn***

Source: ITRI

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Consumption, Application & Mining Methods

Source: ITRI

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Why Metmar likes a Central African Tin Play?

Lowest cost quartile tin production

• Subject to final drill results from Alphamin, Bisie expected to be a high grade open pit mining operation

Positive demand / supply fundamentals

• Decreasing yields and grades on existing deposits• No major new high grade discoveries

LME traded commodity with less investment fund manipulation

• Smallest volume of base metals traded on LME (380,000 tpa)• Demand/Supply fundamentals prominent pricing factor on LME

Minimal consumer manipulation

• Consumer manipulation significantly more difficult as compared to bulk traded commodities (e.g. chrome, manganese, iron ore, etc.) due to Metal Exchange pricing (KLTM and LME)

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Questions?

Further information contact:

Disclaimer:

This presentation contains forward-looking statements about the company’s operations and financial conditions. They are based on Metmar Limited’s best estimates and information at the time of writing. They are nonetheless subject to significant uncertainties and contingencies many of which are beyond the control of the company. Unanticipated events will occur and actual future events may differ materially from current expectations due to new business opportunities, changes in priorities by the company or its joint ventures as well as other factors. Any of these factors may materially affect the company’s future business activities and its ongoing financial results.

Sean Naylor

Tel: +27 (0)11 267 3000Email: sean@metmar.co.za