Updated Investor Presentation - ASX · updated Investor Presentation which will be presented in the Annual General Meeting 2014. - ENDS - About Elemental Minerals ... Allana Potash

Updated Investor Presentation

Perth, Australia 30 May 2014 – Elemental Minerals Ltd. (ASX: ELM) (‘Elemental’ or ‘the Company’) provides an updated Investor Presentation which will be presented in the Annual General Meeting 2014.

- ENDS -

About Elemental Minerals

Elemental Minerals Limited (ASX: ELM) is an advanced mineral exploration and development company whose primary asset is the 93% owned Sintoukola Potash Project in the Republic of Congo. Elemental completed an advanced Pre-Feasibility Study on its Kola Project in September 2012 and was awarded a mining license and an environmental license in August 2013. The Sintoukola Project has the potential to be among the world’s lowest-cost potash producers and its strategic location near the coast of Central Africa offers a transport cost advantage to key Brazilian and Asian fertilizer markets. For more information, visit www.elementalminerals.com Contacts:

Iain Macpherson Sam Middlemas Ilja Graulich

Chief Executive Officer Non-Executive Chairman Investor Relations Manager

Tel: +27 76 238 4461 Tel: +61 419 936 040 Tel: +27 83 604 0820

[email protected] [email protected] [email protected]

Johannesburg Office: +27 11 469 9140

www.elementalminerals.com Forward-Looking Statements

This news release contains statements that are "forward-looking". Generally, the words "expect," “potential”, "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, to differ materially from those expressed or implied in any of our forward-looking statements, which are not guarantees of future performance. Statements in this news release regarding the Company's business or proposed business, which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as resource estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

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Strategic World Class Potash Project

May 2014 ASX: ELM

High-Grade, Low-Cost and Globally Strategic Potash Project

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Executive Summary

• ASX listed potash exploration and development company focused on Republic of Congo

• 1,408km2 exploration license covering a number of targets

• Kola is the most developed project with an advanced pre-feasibility study completed in September 2012

• Mining licence and environmental permits in place

• Study ranks this project as the lowest operating cost project of all current developers at US$79/t FOB

• Kola has the highest grade of all greenfield development projects and is comparable to the highest grade producers

• M&I sylvinite mineral resources of 573Mt at an average grade of 33% KCl

• Further exploration work in progress, will be drilling in July

• Experienced, African focused Management team

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Value Drivers

• Advance the world class Kola project, which will include further drilling aimed at expanding the high grade

• Unrivalled, strategic land package in historical producing area - less than 10% explored

• Hangingwall Seam (‘HWS’) sylvinite Mineral Resource at Kola and exploration at Dougou

• Possibly the highest grade (50 to 60% KCl) potash seam discovered globally

• Dougou HWS Target being advanced – drilling contract signed ready for July start-up

• Exploration to drive value, looking first at carnallite then at sylvinite

• Recently obtained historic seismic and drill data enables a fast track Dougou programme

• 590 kilometres of seismic data will assist with the Dougou exploration

• A search is underway for appropriate Chairman and directors in order to reconstitute the board and lead

the company to success

• New strategy supported by new board and key shareholders

• Studies on Kola recommenced with a view to confirming reduced and optimised lower capex alternatives

• Ensuring project will get developed

• Negotiations with potential infrastructure carve out partners resuscitated

• Advanced PFS underpins outsourcing strategy

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Kola: a Large, Low-Cost, Shallow, High-Grade Potash Project

• Highly Competitive Economics Driven by High Grades, Shallow Depths and Excellent Logistics

• Lowest quartile of global potash production cost curve with cash costs (FOB Tchiboula) of US$79.1/t*

• M&I sylvinite mineral resources of 573Mt at an average grade of 20.9% K2O (33.1% KCl)

• 23 year LoM at 2.0Mtpa MoP capacity, with less than 10% of licence area explored by ELM to date

• 475Mt of Inferred Sylvinite Mineral Resource grading 20.4% K2O (32.3% KCl) not considered for the PFS

• Strategic Location with Access to Key Export Markets

• Proximity to coast provides shipping cost advantage to Brazil and Asia

• Sintoukola Project 36km to coast with access to water, low-cost electricity and natural gas

• Proven Management Expertise and Highly Supportive Founder Shareholders

• Experienced Management and Operations teams with demonstrated track record of building high quality African

mining projects

• Strong and highly supportive “SA Founder Group” owning nearly 50% of the share capital

• Globally Strategic Scale High-Grade Potash Resource

• Additional high grade HWS discovered with sylvinite grades for the seam of 50% to 60% KCl

• Total license area ~1,400km2 of which ~10% has been explored to date

• Historic production until 1970s and significant historic and oil & gas seismic data available

• Permitting

• Mining and environmental licenses awarded, mining convention underway

Source: NI 43-101 Technical Report, Sep. 17, 2012; *excluding royalties

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Strategic Location

● Situated in the south west of the Republic of Congo

● 30km direct line of sight from the coast

● 1,408km2 exploration license covering the Kola and Dougou deposits – 90km2 explored to date

● Established infrastructure

● Deep water port and industrial hub at Pointe Noire

90km from Sintoukola site, mostly bitumen road

● Available low cost power - Egis reports a current power surplus of 141MW (vs. Sintoukola estimate requirement of 56MW)

● Strong relationship with the government and local partner will help support future product development

● The Company is expected to enjoy a relatively favourable fiscal regime

● Strong support from local communities and regional government

● Good relationship with active NGOs

● Independent of existing export organizations

Source: NI 43-101 Technical Report, Sep. 17, 2012;

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Access to Key Strategic Markets in Brazil and Asia

Source: Fertecon, CRU, SeaRates

Vancouver

Portland

Brazil

NW Europe

ChinaMiddle EastUSA

Pacific NWSt. Petersburg

Ventspils

Klaipedia

Hamburg

Ashdod

Eilat

Aqaba

Pointe Noire

AfricaDistance

(Vancouver – Santos)

8,491 nautical miles

Distance

(St. Petersburg – Santos)


Distance

(Ashdod – Santos)


New Brunswick

Distance

(Pointe Noire – Santos)


India

Significant

opportunity for

Asian markets

● Elemental is well positioned to export its potash product to Brazil, the world’s key importer of potash

Brazil imports 90% of its domestic potash consumption

● Potential for robust margins given premium pricing due to the company’s targeted granular product mix, low cash costs and favourable ocean freight rates from Pointe Noire to Brazil

Pointe Noire is 4,931 nautical miles closer to Santos than Vancouver • Elemental’s production also represents a large, attractive potash source for the Asian market

● Further, Africa was estimated to consume ~900Ktpa of potash in 2012; split approx. equally between (i) the established markets of South Africa and North Africa, and (ii) the rest of Africa (less developed and underpenetrated)

● The likely huge growth in demand across Africa represents significant upside that is not featured in the current economics For

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25% 23% 22%

21% 18% 17% 16%

13% 11% 11% 11% 10% 9% 9%

--

5%

10%

15%

20%

25%

30%

$1 471

$1 196

$1 111

$1 069

$1 035

$969

$944

$944

$779

$760

$759

$664

$642

$357

BHP Billiton (Jansen)

Western Potash (Milestone)

Magindustries (Mengo)

Encanto Potash

(Muskowekwan Property)

Potash One (Legacy)

BHP Billiton (Burr)

ELM (Sintoukola Potash)

Karnalyte Resources

(Wynyard)

Verde Potash (Cerrado Verde)

South Bolder (Colluli Potash)

IC Potash (Ochoa)

Prospect Global Resources

(Holbrook Basin)

Allana Potash (Danakhil

Project)

Highfield Resources (Javier)

Benchmarking Elemental vs. Peers – the Kola deposit

High Grade Sylvinite Resource

Shallow Mineral Resources Depth

Capex Comparison Capacity

(Mtpy)

US

$/t

on

ne

of K

CI C

ap

acity

56 65

264 315 392 425 465

725

945 950 1 013

1 211

1 500

1 700

0

200

400

600

800

1 000

1 200

1 400

1 600

1 800Mining Methodology Conventional Solution Open Pit

Mining Methodology Conventional Solution Open Pit

Mining Methodology Conventional Solution Open Pit

Source: Company Reports, NI 43-101 Technical Report, Sep. 17, 2012;

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K+S / Potash One

(Legacy), 16.5% Magindustries

(Mengo), 10.5% Verde Potash

(Cerrado Verde), 8.9%

Western Potash

(Milestone), 15.8%

Allana Potash

(Danakhil Potash), 11.5%

Karnalyte Resources

(Wynyard), 9.3%

Elemental Minerals

(Sintoukola Potash),

20.5%

Prospect Global Resources

(Holbrook Basin), 10.4%

Highfield Resources

(Javier), 12.9%

BHP Billiton

(Burr), 22.8%

BHP Billiton

(Jansen), 25.4%

Encanto Potash

(Muskowekwan Property),

17.9%

Elemental Minerals

(Hangingwall Seam Only),

34.0%

02004006008001 0001 2001 4001 6001 800

Average Depth of Deposit

Ave

rag

e R

es

erv

e a

nd

Res

ou

rce

Gra

de

(K

2O

)

Sintoukola: A Top Tier Potash Asset

Potash Development Assets Ranked by Grade and Deposit Depth

A shallow depth of 264m and an average grade of 20.5% (K2O) with upside potential from the Hangingwall Seam make Sintoukola the premier potash project

Source: Company Reports, NI 43-101 Technical Report, Sep. 17, 2012;

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79 68

82

64 63

124 117

64

98

163 162

134

285

2

2.8

1

2

2.7

1.2

0.8

2.8

2

8

0.9

2.1

3

0

1

2

3

4

5

6

7

8

9

0

50

100

150

200

250

300

Elemental Encanto AllanaPotash

BHP Burr Potash One(K&S)

Mengo Highfield WesternPotash

(Milestone)

ProspectGlobal

BHP Jansen IC potash Karnalyte Verde

Site Cost Freight Royalty output/proposed outputUS$/tonne

ELM includes transport

Estimated Potash Developer Cost Curve

Sintoukola’s opex per tonne is the lowest amongst its peers

Source: Company Reports, GMP, NI 43-101 Technical Report, Sep. 17, 2012;

M Tonne

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79 63

77 64 64 62

124 117

82 98

121 119 125 146

134 145 151 162 163 188

220

285

35 21

35 35 43

22

60 44

35 40 35

22 35 35

35 35 35

22

22

0

50

100

150

200

250

300Site cash Costs Rail/Road Transport

Site Cash Cost Curve (excludes freight and royalty)

Source: Company Reports, Urakali, GMP, NI 43-101 Technical Report, Sep. 17, 2012;

US$/tonne

Developers

Producers

ELM includes transport

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Achieved to date

● Acquired 93% interest in Sintoukola Potash project in late 2009 / early 2010

● Announced initial resources at Sintoukola in April 2011

● Engaged SRK to lead Feasibility Study in April 2011

● Announced updated resource in May 2012

● Announced HWS and updated resource in August 2012

● Completed NI 43-101 Pre-Feasibility Study in September 2012

● Completed bridging studies in May 2013

● Received Environmental Permit in August 2013

● Received Mining License in August 2013

● Completed land rezoning in Q4 2013

● Drilling Contract signed 27 May 2014

Pointe-Noire Harbour For

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Revised Strategy

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Immediate Building Blocks – Creating Optionality

• Potash market fundamentals remain solid – outlook improving

• ROC continues to be attractive due to locality and supporting government

• Elemental management has developed a two pronged strategy

• Aggressive follow up exploration programme for the Dougou Prospect aimed at unlocking the

largely untested potential of the greater Sintoukola permit.

• Advance the Kola project

• Advance the world class Kola project, which is planned to include further drilling aimed at expanding the high

grade Hangingwall Seam (‘HWS’) sylvinite Mineral Resource

• Dougou Exploration Target (1.0 to 1.4 billion tonnes of carnallitite grading 23 to 25% KCl*) is the focus of current

exploration – drilling to commence in July.

• Recently obtained historic seismic and drill data will assist with the above and a wider exploration programme at

Dougou for HWS sylvinite.

• A search is underway for appropriate Chairman and directors in order to reconstitute the board and lead the

company to success

• Reduction in overhead costs underway

• Studies on Kola recommenced with a view to reducing and optimising lower capex alternatives

• Negotiations with potential infrastructure carve out partners resuscitated aimed at reducing capital

• Identify equity partner to finance the project

* Refer to ELM announcement 7 May 2014

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• 2Mtpa conventional, u/g sylvinite mine (phased implementation of 1mtpa then 2mtpa)

• Advanced PFS completed and well received by peers and market commentators

• Mining licence awarded

• Government and ELM ready to engage on investment agreement

• Environmental permit in place

• Mine to Tchiboula (plant and jetty site) land rezoning completed (compensation payments deferred)

• Kola is a world class deposit

• Offtake agreements and infrastructure partners – discussions in progress

• Aim to commence a PEA on phased approach, (incl. infrastructure outsource) planned for T0+4 months.

• To assess whether a significant reduction in capex is possible (with infrastructure carve out)

Kola Project Highlights

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Dougou – unlocking the value of the Hangingwall Seam

Location of Elemental borehole ED_01 (announced 4 September 2012) which returned sylvinite HWS intersection of 4.47m grading 57.66% KCl

More recently, Elemental announced an Exploration Target for HWS at Dougou of 1.0 to 1.4 billion tonnes grading between 23% and 25% KCl at an average seam width of 9.3m*

• Currently little value assigned to Dougou despite the opportunity for high grade sylvinite and carnallitite.

• 2013 - ELM acquired historic borehole data for Dougou, almost all boreholes contain the HWS (all within

the Exploration Target area)

• ELM is working towards the completion of a maiden Mineral Resource for a portion of the Exploration

Target area, supported by the recently acquired historic seismic data.

• If a maiden Mineral Resource is defined, the imminent drilling programme aims to expand and increase

the level of confidence.

* Refer to ELM announcement 7 May 2014

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Exploration Target

• Exploration Target is based on 10

boreholes including a verification

(twin) borehole (ED_01) drilled by

ELM in 2012

• Sylvinite is not factored in the

target as it is only present at one

location to date (K52 and twin

borehole ED_01): 4.47 metres

grading 57.66% KCl.

• The average thickness of the

carnallitite HWS seam model is

9.3 metres.

• The sylvinite may be the focus of

a wider exploration programme

which is planned to follow the

imminent 3 borehole programme.

Dougou Exploration Target carnallitite seam thickness F

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Dougou Sylvinite Exploration • A very large area of the

permit has potential to host

sylvinite of the HWS and other

seams

• The recently acquired seismic

data will be used to define

targets for drill-testing

• A further 10-borehole

programme is under

consideration

• Aim is to demonstrate the full

potential of the RoC potash

basin within which ELM is a

key stakeholder

Area of Interest for sylvinite exploration showing recently acquired historic seismic data. Note the Dougou Exploration Target and the Kola deposit are shown F

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Name Holding

Harlequin* 19.42%

EMC* 8.00%

Dingyi 6.09%

Genesis Investment 5.92%

Iain Macpherson 1.3%

Top 20 61.6%

Capital Markets Overview

Major Shareholders

Shareholder Distribution Capitalisation Summary

Exchange Listings: ASX ELM

Share Price (A$/share) 0.275

52 Week High / Low (A$/share) 0.60 / 0.17

Shares Outstanding (mm) 305.1

Options (unlisted) (mm) 18.2

A$10m Convertible Note @ 0.3407 (mm) 30.1

F.D. Market Capitalisation (A$m) 96.6

Cash & Cash Equivalents ( 31 Mar ‘14) (US$m) ~11.5

Source: Orient, *Founding Shareholders

35.42%

16.65%

1.08%

10.55%

7.82%

28.32%

0.16%

Australia UK North America Europe (ex UK) Asia Africa Rest of World

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Experienced Management Team and Consultants

18

Management

Iain Macpherson

Chief Executive Officer

● Over 25 years of experience in senior management and executive roles in the mining sector

● Served as Chief Operating Officer of UraMin as well as Managing Director of UraMin

Lawrence Davidson

Chief Financial Officer

● Held senior financial management roles for the past 20 years

● Previously Managing Director of DF2 Consulting and management consultant to Barclays Bank

Werner Swanepoel

Project Manager

● Over 20 years mining experience in senior management and consulting roles

● Formerly VP Technical Services AREVA Resources Southern Africa and Technical Manager at UraMin

Andrew Pedley

Chief Geologist

Over 10 years exploration experience in Africa and South America

Formerly with Brazilian Gold and UraMin

Ilja

Graulich

IR Manager

● Over 15 years experience in communication, investor relations roles and corporate development

● Formerly Head of Investor Relations at DRDGold, Gold One and Companies and Markets Editor at Business Day newspaper

Julien Babey

Managing Director, Sintoukola Potash SA

Experienced General Manager in energy and mining industry

Former CEO of AREVA Mongolia

Ken Wheeler

General Manager, Sintoukola Potash SA

Experienced mine and exploration geologist with over 20 years African experience

Former Exploration Manager AngloGold Ashanti DRC

Well regarded technical team

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Timeline to Production

Achieving the timetable is dependent upon a range of factors, including but not limited to securing sufficient financing to proceed and thus there is no guarantee that such a timetable will be achieved

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Kola PFS Mineral Reserves & Resource Estimate


Measured Indicated Inferred

Tonnes(Mt) %K2O %KCl Tonnes(Mt) %K2O %KCl Tonnes(Mt) %K2O %KCl

HWS - - - - - - 47 34.8 55.0

Upper Seam 171 22.5 35.5 159 22.0 34.89 96 21.8 34.5

Lower Seam 93 19.2 30.4 150 19.1 30.17 107 19.1 30.3

Footwall Seam 225 17.6 27.9

Total 264 21.3 33.7 309 20.6 32.61 475 20.4 32.3

Mineral Resource estimate for sylvinite mineralization only at a 10% K2O cut-off grade (1)

Mineral Resource estimate for sylvinite and carnallitite mineralization at a 10% K2O cut-off grade (1)

Measured Indicated Inferred


HWS 47 34.8 55.0

Upper Seam 245 19.5 30.9 310 17.8 28.1 278 16.3 25.8

Lower Seam 313 13.3 21.0 448 13.7 21.8 398 13.1 20.8

Footwall Seam 225 17.6 27.9

Total 559 16.0 25.4 758 15.4 24.4 948 16.2 25.6

Source: NI 43-101 Technical Report, Sintoukola Potash Project, Sep. 17, 2012, 1. Includes resources upgraded to P&P reserves

Mineral Reserve for sylvinite mineralization only at a 10% K2O cut-off grade

Proven Probable Total


87.9 20.0 31.7 63.8 20.0 31.7 151.7 20.0 31.7

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Timeline

• 21 September 2012 – ELM releases 43-101 PFS – proving a world class project

• March 2013 - Strategic process (to find a strategic partner or buyer) yields two offers to acquire the 100% of the Company

(Dingyi and one other)

• 12 April 2013 – ELM receives non-binding proposal from Dingyi and enters exclusivity until end June (ultimately extended 4 times)

• 15 August 2013 – ELM awarded mining licence by the Ministry of Mines in Republic of Congo

• 27 August 2013 – ELM awarded environmental permit by the Ministry of Tourism & Environment in Republic of Congo

• 30 August 2013 – ELM grants preference to Dingyi to subscribe to A$5m placement – increase in share capital

• 19 December 2013 – Dingyi receives unfavourable SEHK deal classification (reverse takeover) for its ELM bid

• 24 December 2013 – ELM and Dingyi finalise A$10m convertible financing for ELM

• 31 March 2014 – Dingyi deal lapses (after SEHK rejects Dingyi appeal)

• 1 April 2014 – “SA Founder Group“ strengthened by Harlequin’s acquisition of Pala’s 12% stake in Elemental

• 1 May 2014 - Announced New Strategic Initiatives and Developments

• 7 May 2014 – Announced Dougou Exploration Target

• 16 May 2014 – Announced Data swap agreement with Socomip SA including over additional 590 line kilometres of seismic data

• 19 May 2014 – Successfully raised A$3.1m and announced repayment of Convertible Note

• 27 May 2014 – Contract signed with drilling Company for 3 boreholes at Dougou.

During the “exclusivity period” significant project development was achieved including: • the award of the mining licence, • approval of ESIA, • land re-zoning, • bridging studies completed, • development of phased implementation approach.

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HFR Javier Urakali Belaruskali Canada Low Cost Mosaic Elemental Sintoukola

Depth 315-800m ~450m ~500m ~1000m 250-1600m 264m

ROM grade (K20) 12.9% 16.8% 11-12% 18-23% 18-26% 20%

Site Opex (US$/t) 110 60 - 50 125 79

Environ/Social/Sustaining (US$/t)

15 30 - 20 45 10

SG&A (US$/t) 13 25 - 15 32 5

Royalty and Resource tax (US$/t)

- - - 20 15 14

Site cost and overhead (US$/t)

138 115 - 105 217 108

Transport to port (km)

300 2 200 700 ~1800 ~1800 0

Shipping to Brazil (km)

9 100 12 400 12 000 15 700 15 700 6300

Rail/trucking costs (US$/t)

22 43 21 35-65 35 0

Ship loading (US$/t)

5 5 5 5 5 0

Shipping to Brazil (US$/t)

17 30 29 45 45 12

All in Cost (US$/t CFR Brazil)

181 193 - 205 302 124

Brazil CFR Price spot (US$/t)

360 360 360 360 360 360

Source: Company Reports, GMP, NI 43-101 Technical Report, Sep. 17, 2012;

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Core Sample Core Shed

Core Shed Bridge over Kouilou River For

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Harbour Drill site

Tented Camp Pointe Noire For

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Disclaimer This Presentation contains "forward-looking statements" ‘‘forward-looking information’’ within the meaning of applicable Canadian securities legislation. Wherever possible, words such as ‘‘plans’’, ‘‘expects’’,

or ‘‘does not expect’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, ‘‘forecasts’’, ‘‘anticipate’’ or ‘‘does not anticipate’’, ‘‘believe’’, ‘‘intend’’ and similar expressions or statements that certain actions, events or results

‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will’’ be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements in this Presentation may include, but are not limited to, statements regarding: future extraction, methodologies and the exploitation of mineral deposits; capital expenditure

requirements; IRR and NPV of the Sintoukola Potash Project; expected production capacity; certain mining assumptions; cost estimates; product market assumptions; market price assumptions;

transportation and marketing costs; life of mine production parameters; arable land per capita projections; estimation of Mineral Resources; the Company spending the funds available to it as stated in this

Presentation; expectations regarding the Company’s ability to subsequently raise capital; expenditures to be made by the Company to meet certain work commitments; work plans to be conducted by the

Company; reclamation and rehabilitation obligation and liabilities; treatment under governmental regulatory regimes with respect to environmental matters; treatment under governmental taxation regimes;

government regulation of mining operations; dependence on personnel and competitive conditions.

Forward-looking statements are based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and

expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be

incorrect. Management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable. Assumptions have been made regarding, among other things: the

Company executing its project development plans in accordance with its budgets and planning; feasibility and other studies supporting the Company’s development plans; the Company being able to obtain

sufficient financing when required and on reasonable terms; the Company being able to convert existing Mineral Resources into Proven or Probable Mineral Reserves; the Company obtaining required

licenses and approvals in a timely manner; applicable environmental and other laws and other regulations not being amended; key management continuing to serve in their respective roles with the

Company; title to the Sintoukola Potash Project not being challenged; and no changes occurring to the price of potash that might adversely affect the prospects for developing and operating the Sintoukola

Potash Project or which might make it uneconomic to proceed with development.

Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not

such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks related to: no history of mineral

production; lack of revenue from operations; dependence on the Sintoukola Potash Project; uncertainty of estimates of Mineral Resources; lack of Proven or Probable Mineral Reserves; projections being

materially different than results; challenge of title to the Project; failure to obtain approvals and licenses; adverse regulatory requirements; litigation; mining complexities; construction delays; potential for

water ingress; potential for ground water access to Mineral Resources; adverse climate conditions; failure to secure suitable waste disposal permits; inadequate infrastructure; delays in gaining access to

land; existence of cultural heritage on lands for which access is required; inability to recruit and retain key employees; unknown environmental risks; uninsurable risks; potential officer and director conflict of

interest; inability to secure additional capital; global financial conditions; competition in the mining industry; cyclical demand for potash; weather patterns and natural disasters; volatility in potash prices;

political and economic risks in the ROC; entitlement of the Congolese government to a stake in the Sintoukola Potash Project; enforcement of contractual rights in the ROC; exchange rate fluctuations;

repatriation of funds; failure to declare funds prior to bringing them into the ROC; opposition from non-governmental organizations; lack of dividends; volatility and lack of liquidity of ordinary shares of the

Company. Although the forward-looking statements contained in this Presentation are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure

investors that future performance and actual results will be consistent with these forward-looking statements. The Company, its directors, officers, agents, employees or advisors, do not represent, warrant or

guarantee, expressly or impliedly, that the information in this Presentation is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient

of this Presentation or any matter that subsequently comes to its notice which may affect any of the information contained in this Presentation. These forward-looking statements are made as of the date of

this Presentation and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise them to

reflect new events or circumstances.

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This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection

with, or act as any inducement to enter into, any contract or commitment whatsoever in any jurisdiction. Recipients of this Presentation who are considering acquiring securities of the Company are reminded

that any such purchase or subscription must not be made on the basis of the information contained in this Presentation but are referred to the entire body of publicly disclosed information regarding the

Company.

The information contained in this Presentation is derived solely from otherwise publicly available information concerning the Company and does not purport to be all-inclusive or to contain all the information

that an investor may desire to have in evaluating whether or not to make an investment in the Company. The information is qualified entirely by reference to the Company’s publicly disclosed information.

This Presentation is being supplied to you solely for your information and may not be reproduced, further distributed or published in whole or in part by any other person. Neither this Presentation nor any

copy of it may be taken or transmitted into or distributed in Canada, the United States or any other jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to

comply with this restriction may constitute a violation of applicable securities laws.

No representation, warranty or guarantee express or implied, is made or given by or on behalf of the Company or any of their subsidiary undertakings or any of the directors, officers, employees or advisors

of any such entities as to the accuracy, completeness or fairness of the information or opinions contained in this Presentation (or of any other written or oral information made or to be made available to any

interested party or its advisors) and, to the fullest extent permitted by law, no responsibility or liability, howsoever arising, is accepted by any person for such information or opinions. In furnishing this

Presentation, the Company does not undertake or agree to any obligation to provide the attendees with access to any additional information or to update this Presentation or to correct any inaccuracies in, or

omissions from, this Presentation that may become apparent. The information and opinions contained in this Presentation are provided as at the date of this Presentation. The contents of this Presentation

are not to be construed as legal, financial or tax advice. Each prospective investor should contact his, her or its own legal adviser, independent financial adviser or tax adviser for legal, financial or tax advice.

In particular, any estimates or projections or opinions contained in this Presentation necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should

satisfy itself in relation to such matters.

Competent Person Statement / Qualified Person Statement:

All scientific or technical information, including information that relates to exploration results and minerals resources (“Information”) at the Kola deposit in this press presentation is based on information

prepared and/or approved by Andrew Scogings, MSc, MAusIMM, MAIG, PhD (CSA), Jean Hector, Senior Geologist (EGIS), Jane Joughin, Pr.Sci.Nat., MSc (SRK), Johan Boshoff, MEng, P.Eng. (SRK), Neal

Rigby, CEng MIMMM, PhD (SRK), Paul O’Hara, P.Eng. (AMEC) and Simon Dorling, MSc, MAIG, PhD (CSA) (collectively, the “Qualified Persons”), each of whom are independent of the Company and have

sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity they are 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” (the JORC Code) and as a Qualified Person for the purposes of Canadian National Instrument

43-101. Each of the Qualified Person consents to the inclusion in this press presentation of the Information, in the form and context in which it appears.

The Information in this report that relates to Exploration Targets and Exploration Results at the Dougou Target is based on information compiled by Mr. Andrew Pedley, Elemental’s Chief Geologist and a full-

time employee of the Company. Mr. Pedley is a member of the South African Council for Natural Scientific Professions (SACNASP) being a registered Professional Natural Scientist in the field of Geological

Science. Mr. Pedley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person, as

defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr. Pedley consents to the inclusion in this report of the

matters based on his information in the form and context in which it appears.

Further information respecting Elemental’s Sintoukola Potash Project and the PFS is contained in a technical report entitled ‘‘NI 43-101 Technical Report, Sintoukola Potash Project, Republic of Congo’’ dated

September 17, 2012 with an effective date of September 17, 2012 (the “Technical Report”).

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Low-Cost, High-Grade Potash Project Iain Macpherson

Chief Executive Officer

Elemental Minerals Ltd

Email: [email protected]

Office: +27 11 469 9140

Direct: +27 11 469 9144

Mobile: +27 76 238 4461

Ilja Graulich

Investor Relations Manager



Office: +27 11 469 9140

Direct: +27 11 469 9148

Mobile: +27 83 604 0820

Sam Middlemas

Non-Executive Chairman



Mobile: +61 419 936 040

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mailto:[email protected]



Documents

Updated Investor Presentation - ASX · updated Investor Presentation which will be presented in the Annual General Meeting 2014. - ENDS - About Elemental Minerals ... Allana Potash