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Investor Presentaiton

Araguaia Nickel Project - Key Location • • Araguaia is located in the Pará state south of the Carajas mining district in NE Brazil NE region has seen rapid infrastructure development over the past 10 years including the building of ports, railways, refineries and mines Principal new mining projects include Vale's S11D iron project, Votorantim Metals' Rondon do Pará project, and the Hydro Alunorte project Vale's S11D iron project cost approximately US$20 billion and designed to produce approximately 90Mtpa with production in Pára up to 230Mtpa total Vale Regional Nickel Operations Onca Puma - Vale Anglo American - Barro Alto Nickel (RKEF) • • In the Goiás state Reserves + resources of 118Mt at 1.43% Ni Production commenced March 2011 ~ production of 36,000tpa Ni targeted over 26 year LOM • 150 km NE from Araguaia Vale - Onça Puma Nickel (RKEF) • Reserve of 95Mt at 1.61% Ni Production commenced May 2011 - planned annual production capacity of ~53,000 tonnes Ni HORIZONTE Developing the next major nickel project in Brazil : AIM/TSX HZM 11 MINERALS
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