Apollo Minerals Limited · ASX:AON

Apollo Minerals — RIU Conference (May 2012)

25 slides from Apollo Minerals's conference presentation, May 9, 2012

1. Slide 1: Apollo Minerals Limited – Investor Presentation Update

   Office Address Level 9, 50 Margaret Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7665 Fax +61 2 9078 7661 Email info@apollominerals.com.au For personal use only 9 May 2012 ASX Announcements Apollo Minerals Limited – I

2. Slide 2: April 2012

   A pril 2012 For personal use only www .apollominerals.com.au

3. Slide 3: Disclaimer

   For personal use only Disclaimer 2 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 re

4. Slide 4: Table of contents

   For personal use only Table of contents 3  Company overview  Iron ore expertise  Key projects  Commonwealth Hill Fe (SA)  Titan Base and Precious Metals (SA) On the right track  Mt Oscar Main and Mt Oscar East Fe (WA)  Summary  Market comparisons

5. Slide 5: Company overview

   Company overview 4 Well placed for significant growth For personal use only Company overview Source of funds  ASX Code: AON  Iron ore focused  Shares: 270m  Multiple projects  Unlisted options: 60.5m  Well financed Retail  Market Cap: $12m  Near-term development opportunity (60%)  Cash, 9 M

6. Slide 6: Apollo's Advantages

   Apollo’s Advantages 5 Quality infrastructure, quality technicals For personal use only Apollo Advantages  Quality iron ore development team assembled (ex-Rio Tinto and Iron Ore Holdings)  DSO mineralisation and large, high quality magnetite projects  Very low strip ratio potential - circa 0.5 to

7. Slide 7: Apollo Management Team

   Apollo Management Team 6 Strong resources industry experience For personal use only •Dominic Tisdell – Executive Director and Chief Operating Officer (B Engineering (Mining), MBA) •15 years experience in mining, resources M&A and management consulting with Rio Tinto, Mitsubishi Corporation and Accen

8. Slide 8: Key projects

   Key projects 7 Focused on near-term of iron ore sales For personal use only 1 Fe Direct Shipping Ore (DSO) Style Mineralisation 2 Premium Fe Concentrates On the right track TITAN PROJECT 3 (IOCGU) IOCGU ...with real potential for significant base and precious metals.

9. Slide 9: Table of contents

   For personal use only Table of contents 8  Company overview  Iron ore expertise  Key projects  Commonwealth Hill Fe (SA)  Titan Base and Precious Metals (SA) On the right track  Mt Oscar Main and Mt Oscar East Fe (WA)  Summary  Market comparisons

10. Slide 10: Commonwealth Hill

    Commonwealth Hill 9 Low capital cost development For personal use only Key Characteristics  Potential for very large resource and long mine life  Demonstrated high quality, high value products SA has 2-3 new OneSteel:  Low capital cost options iron ore producers $300m as of 2012 Giffen Well (WPG)

11. Slide 11: Seaborne Iron Ore Market

    Seaborne Iron Ore Market 10 Secure, long-term value creation in SA For personal use only Seaborne Iron Ore Fines Pricing Typical SA producer SGX Forward Pricing Curve 200  Product ~ 60% Fe Fines 180  2 mtpa sales 160  CFR Cost $75/tonne 140  Long-term margin $40/t US$/Dry t, CFR China Fines Supp

12. Slide 12: Excellent Infrastructure

    Excellent Infrastructure 11 Existing multi-user rail and port services For personal use only  1st class rail services  At Commonwealth Hill iron ore prospects  High quality below rail engineering  Basic siding earthworks Gina rail siding at Commonwealth Hill Nearby Rankin Dam rail siding (ASX: I

13. Slide 13: Exploration & Resource Definition

    Exploration & Resource Definition 12 Rapidly advancing our iron ore prospects For personal use only Railway  Sequoia (2012) Exploration Target* 40 – 80mt North at 25 – 35% Fe over a strike of 1km  30km of similarly prospective strike identified Wirrida  Sequoia maiden JORC resource due Q2, 2012 (

14. Slide 14: Sequoia Iron Prospect

    Sequoia Iron Prospect 13 One of Apollo’s many SA iron ore prospects For personal use only Block model slice at -80m On the right track  Very low strip ratios  Higher grade fractions  High iron recoveries  High mass yields 43% Fe  Large tonnages gravity 40-50% Fe zone inferred to outline at 400-

15. Slide 15: High Value Products

    High Value Products 14 Proven product qualities at high recoveries For personal use only Fe SiO₂ AI₂O₃ P S Mass Yield  Oxide DFO at < 1mm 58.1% 6.6% 1.6% 0.01% 0.07% 73% Fe SiO₂ AI₂O₃ Mass Yield  Direct Feed Ore (“DFO”) at P80 215µm 64.7% 7.4% 0.6% 44.7% Concentrate Grades Company Project Grind Si

16. Slide 16: Simple Processing Solutions

    Simple Processing Solutions 15 Flexibility in processing = flexibility in sales For personal use only Conceptual Sinter Fines Processing Option Key Decision Points  Proven  Market matched products  Low capital cost  Low operating cost  Environmentally sensitive  Technically simple On the right

17. Slide 17: Operational Benchmarks

    Operational Benchmarks 16 Significant benefits available in SA For personal use only Selected operational and development benchmarks SA* Advantage 160  Protected from market US$/t (CIF China equivalent basis) 140 downturns Fines Supply Cost 120 + 100  Operating costs 80 comparable to, or 60 better

18. Slide 18: Titan IOCGU Project

    Titan IOCGU Project 17 Iron ore, base and precious metals potential For personal use only Wirrida Complex overview  10 x 7km intrusive with potential to host massive iron, copper, gold and other base metals  Large, shallow ironstone units identified  Potential for magnetite – haematite interfaces

19. Slide 19: Table of contents

    For personal use only Table of contents 18  Company overview  Iron ore expertise  Key projects  Commonwealth Hill Fe (SA)  Titan Base and Precious Metals (SA) On the right track  Mt Oscar Main and Mt Oscar East Fe (WA)  Summary  Market comparisons

20. Slide 20: Mt Oscar

    Mt Oscar 19 Large iron ore asset situated in premier hub For personal use only Key characteristics  30km from proposed Proposed deep multi-user Port Anketell water port export facility  Exploration Target* 350 – 650mt at 30 – 37% Fe  Low capital costs for off-site services On the right track  Ph

21. Slide 21: Mt Oscar exploration

    Mt Oscar exploration 20 Solid drilling results For personal use only Significant exploration and metallurgy results  Demonstrated wide intercepts  192m @ 35.9% Fe from 25m  271m @ 34.8% Fe from 14m  101m @ 33.6% Fe from 110m  Saleable products i.e. Fe > 60% and (SiO2 + Al2O3) < 8%  Significant

22. Slide 22: Table of contents

    21 Table of contents For personal use only  Company overview  Iron ore expertise  Key projects  Commonwealth Hill Fe (SA)  Titan Base and Precious Metals (SA) On the right track  Mt Oscar Main and Mt Oscar East Fe (WA)  Summary  Market comparisons

23. Slide 23: Summary

    22 Summary: On the right track For personal use only Commonwealth Hill (SA, Iron Ore)  Near-term, low cost mine development opportunity  Potentially very large iron accumulatation in an emerging iron ore region  Existing heavy haulage rail and port facilities in place  Demonstrated sought-after,

24. Slide 24: Market comparables

    Market comparables 23 Significant upside at current levels For personal use only A$m Explorer Developer Producer Iron ore developer Notes: Mkt caps are expressed on a 100% ownership basis for the principal assets as of 9 March 2012. WPG Resources mkt cap is expressed prior to sale of iron ore assets

25. Slide 25: ASX Code: AON – Investor Contact

    For personal use only ASX Code: AON 24 Investor Contact: Dominic Tisdell Chief Operating Officer Ph: +61 2 9078 7660 dominic@apollominerals.com.au On the right track The information in this Report that relates to Exploration Results is based on information compiled by Mr Derek Pang who is a member o

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