Reward Minerals Ltd · ASX:RWD

Reward Minerals — Corporate Update (May 2010)

18 slides from Reward Minerals's corporate update, May 20, 2010

1. Slide 1: Reward Minerals Limited - Australia's Potash Company

   For personal use only REWARD MINERALS LIMITED Australia’s Potash Company Company Update May 2010

2. Slide 2: Disclaimer

   Disclaimer For personal use only This Presentation is provided on the basis that neither the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to the a

3. Slide 3: Snapshot

   Snapshot For personal use only Directors Share Capital Geoffrey E Lambert MEc, FAICD, FinSIA Ordinary Fully Paid Shares on Issue 67,958,996 (Chairman) Current Share Price $0.35 Dr Michael Ruane, PhD MRACI (Executive Director) Market Capitalisation $23.8 million Cyrille J Van Heyst, BEc Current Cash

4. Slide 4: Company Highlights

   Company Highlights For personal use only  No Potash producers in Australia.  Potash prices remaining buoyant through the general commodities downturn.  Lake Mackay - JORC resource of over 20 million tonnes of potassium sulphate (SoP).  Liaising with Traditional Owners of Lake Mackay lands regard

5. Slide 5: Reward's Potash Projects

   Reward’s Potash Projects For personal use only 5

6. Slide 6: Overview of Potash

   Overview of Potash For personal use only  Potash is a generic term for various potassium salts.  Used primarily as an agricultural fertiliser. Increases yields, water retention and disease resistance.  Potassium (K) is one of three primary nutrients for plants.  Potash has no substitute as a pla

7. Slide 7: Lake Mackay

   Lake Mackay For personal use only DEFINED POTASH RESOURCE  20 Mt K2SO4 JORC compliant Indicated Resource.  Located in the Gibson Desert, Western Australia.  Internal drainage.  Greater than 4m per annum evaporation.  Less than 200mm per annum rainfall.  Land access negotiations in progress wit

8. Slide 8: Lake Mackay Project Summary

   Lake Mackay For personal use only Project Summary  Brine collected via lakebed trenches. Solar evaporation of brines to precipitate the salts. Flotation process to refine the potash. Transported to market.  Total project cost – approximately $120 million.  Current resources have the potential to

9. Slide 9: Mg - K2 - SO4 System at 25°C

   Mg – K2 – SO4 System at 25°C (All points saturated with NaCl) For personal use only Bischofite Mg Carnallite MgCl2 - 6H2O KClMgCl2 - 6H2O Kieserite MgSO4 - 6H2O MgSO4 - H2O Kainite MgSO4 - 7H2O MgSO4KCl - 3H2O Sea Water Leonite Great Salt Lake Brine Mg2SO4K2SO4 - 4H2O Astrakanite Schoenite Na2SO4MgS

10. Slide 10: Moora

    Moora Project For personal use only • Based on the mineral Glauconite. • Very large deposits in the Moora – Hill River area 100km north of Perth, WA - >500Mt. • Typical Potash and Alumina grades 6.2% K2O and 10.3% Al2O3 for Moora Glauconite. • Free dig open pit mining scenario – low waste:ore ratio.

11. Slide 11: Lake Disappointment

    Lake Disappointment Project For personal use only  JORC compliant resource 25Mt of SoP.  Chemistry similar to Lake Mackay.  Initial agreement with Traditional Owners not translated to a Mining Agreement.  Negotiations currently on hold. 11

12. Slide 12: Exploration Projects

    Exploration Projects For personal use only  Concurrent with the development at Lake Mackay. Reward will continue its exploration for world class, buried evaporite hosted, potash deposits.  The sedimentary basins of Australia are geologically similar to the Canadian and European basins and almost c

13. Slide 13: Gascoyne

    Gascoyne Project For personal use only  Located in the Carnarvon Basin in Western Australia.  Recent drilling by RWD intersected a substantial evaporite horizon.  Great infrastructure. Located less than 50km’s from the NW highway and the coastline.  15 exploration licences covering approximately

14. Slide 14: Willara

    Willara Project For personal use only  Located in the Canning Basin in Western Australia.  One exploration licence covering approximately 600sq km’s.  Reward has pegged the most prospective area.  Current activity in the area should facilitate more efficient exploration.  Previous exploration d

15. Slide 15: Officer

    Officer Project For personal use only  Located in the Officer Basin in Western Australia.  Well defined target. Previous seismic surveys have delineated areas of salt uplift.  Very large basin with very extensive salt horizons. Potential to host a world class potash deposit.  Major salt diapers

16. Slide 16: Adavale

    Adavale Project For personal use only  Located in Central Queensland 600km inland from Gladstone.  Three Granted Exploration Licences – 790km2 covering 85km of strike along the Warrego Fault.  Very large evaporite occurrence within Reward’s tenements – 580 metres evaporite intercept in Bury 1 oil

17. Slide 17: Adavale Tenement Location Plan

    Adavale Project For personal use only Adavale Tenement Location Plan Showing Interpreted Showing Interpreted Stratigraphic Location of Boree Salt Extent of Boree Salt and Cross Section Location Member 17

18. Slide 18: For personal use only

    For personal use only 159 Stirling Highway Nedlands WA 6009 T: (08) 9386 4699 F: (08) 9386 9473 www.rewardminerals.com ASX Code: RWD

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