RARE EARTHS, SPECIALITY& STRATEGIC METALSINVESTMENT SUMMIT

IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY-WEDNESDAY, 13-14 MARCH 2012

www.ObjectiveCapitalConferences.com

Developing titanium/vanadium resourcein AustraliaRichard Wolanski – Director, Speewah Metals

TITANIUM / VANADIUM / HEMATITE | FLUORITE | ASX:SPM

Developing Australia’s Largest Titanium / Vanadium / Hematite Resource

BACKGROUND

•Unique 575 km2 geological setting, 100% owned

•World class JORC resources:

- Titanium / Vanadium / Magnetite

- Fluorspar.

•Cash & Debtors $2.4m (Dec 2011)

•130 million shares on issue

•Major Shareholders

- Institutional (25%)

- Board & Management (15%)

SPEEWAH METALS LIMITED PROJECT LOCATION

OVERVIEW – WHERE WE ARE NOW

JORC Compliant Resources

•Titanium / Vanadium / Hematite

Size - Australia’s largest Titanium / Vanadium in magnetite deposit

- 4.7 Billion tonne @ 0.3% V2O5 & 2.0% Ti (at 0.23% V205 cut-off grade)1

- Potential +100 year mine life

Grade - Upgrades in Concentrate to approx 54% Fe, 2.3% V205 and 14.9% TiO2

Metallurgy - +90% Recoveries from concentrate of Ti, V and Fe

High Grade End Products - +99% Purity (TiO2, V2O5, Fe2O3)

•Fluorite

- 6.7 Million tonne @ 24.5% CaF2 (Indicated & Inferred) 1

- Target 10 year mine life2

- Current price (Aug 2011) = US$400 per tonne3

1. Please refer to full Resource statement attached as Appendix 12. Based of future work designed to increase Resource.3. Industrial Minerals Dec 2011.

METALLURGY – THE KEY TO VALUE

Acid Leach Processing

-Established Process - Leach, S/X and Precipitation

-Recovers all 3 commodities in Ore – Titanium / Vanadium / Hematite

-3 separate high value products (TiO2, V205 & Fe2O3) - +99% Purity

-Modular development

-Environmentally safe

Metallurgical Testwork Programme

-Recoveries of Ti (91.1%), V (94.6%) and Fe (97.0%)

-Scoping level OPEX, CAPEX to be completed March 2012

-Pilot plant testing to be completed 2nd half 2012 (Pre-feasibility)

PRODUCTION & REVENUE TARGETS

• Objective – maximise value through separation of Ti, V and Fe from concentrate

Target Commodity Grade in Concentrate (optimised)

Commodity Product/ Purity

Metallurgical Recovery

Market Value/ tonne (US$)

Potential Value/ tonne concentrate (US$) 1

Titanium Dioxide 14.9% TiO2 TiO2 (+99%) 91.1% 3,300 $445+

Vanadium pentoxide 2.3% V205 V2O5 (+94%) 94.6% 13,500 $280+

Iron Oxide 72% Fe oxide Fe2O3(+99%) 97.0% 170 $120+

Total ($/tonne) in concentrate $845+

Ore in situ value is >$100/tonne

Concentrate value equivalent to 16 g/t Gold (US$1650/oz)

Production Target: 75,000 tonne TiO2, 11,500 tonne V2O5, & 390,000 tonne Fe2O3.

Outcome: Titanium is the most valuable commodity produced

Titanium Generates 55% Revenues

Vanadium/ Hematite 45% Revenue

Annual Revenue from Target Production: minimum US$470 million1

1. Based on spot commodity prices (February 2012)

OPEX & CAPEX ESTIMATES1

SCOPING RESULTS DUE MARCH 2012

Estimates based on Target Production levels

Mining Rate (Per Year) 6 million tonne

Open Pit Strip Ratio 0.5

Ore Mining Rate (Per Year) 4 million tonne

Mine life +100 years

Stage 1: Production of Concentrate (Per Year) 550,000 tonne

Cost to create 1 tonne of Concentrate feedstock Est. $150/tonne

Transport/Royalty Est. $85/tonne

Stage 2: Mixed Chloride Acid Leach

Cost per tonne of feedstock Est. $300/tonne

Operating Costs (per tonne of Concentrate created & processed) Est. $535/tonne

Total Annual Operating Cost Est. $295 million

Net Annual Operating Cashflow Est. $175 million

Capital Costs Est. $800 million

Payback Period 4-5 years

1. Based on a comparative study of analogous ore body (TSX: RGX NI 43-101 Preliminary Economic Assessment)

FURTHER VALUE?

Value add opportunities:

•Pigment – Vertical integration, significant revenue

•Optimise crush and grind circuit to lower OPEX and CAPEX and increase yield

•Fluorite– infrastructure share, extra revenue/profit

•Significant capacity for expansion of operations & target production levels

•Source cheaper energy options to lower OPEX

•Further exploration potential – Copper/Gold, PGE+Au

LOGISTICS

• Road to Wyndham (nearest port to China) – 170 kilometres

• Lake Argyle Hydroelectric Power Opportunity onsite – Beneficiation only

• Onsite water available

• Logistics in place - 50,000 tonne shipment / fortnight from Wyndham available

SUMMARY

• Largest JORC resource of it’s kind in the world (Target is to mine 4 million tonne/year from est. >5 Billion tonne Resource)

• Metallurgical recoveries +90%

• High grade (+99%) diversified end products (Ti, V and Fe)

• Approvals lodged by end 2012 & Pre-feasibility

• Target Production 75,000 tn TiO2, 11,500 tn V2O5 & 390,000 tn Fe2O3

• Target Annual Revenue >US$470million

• Scoping CAPEX and OPEX March 2012

CONTACT DETAILS

RICHARD WOLANSKIEXECUTIVE DIRECTOR

Speewah Metals LimitedLevel 22, 77 St Georges TerracePerth WA 6000Ph: + 61 8 9221 8055Email: rwolanski@speewah.com.auwww.speewah.com.au

Competent Persons StatementThe information in this report that relates to Exploration Results, Minerals Resources or Ore Resources is based on information compiled by Ken Rogers who is a Member of the Australian Institute of Geoscientists. Mr Rogers, Chief Geologist of Speewah Metals Limited, compiled the technical aspects of this report relating to the Speewah Project and content of this release. Mr Rogers has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code). Mr Rogers consents to the inclusion in the report of the matters in the form and context in which it appears.

DISCLAIMER

The Company has prepared this presentation. Whilst the information contained in this presentation has been

prepared with all reasonable care from information provided by the Company and from sources, which the

Company believes are reliable, no responsibility or liability is accepted by Speewah Metals for any errors or

omissions or misstatements, however caused. To the maximum extent permitted by law, Speewah Metals, its

director’s officers, employees and agents disclaim liability for any loss or damage which may be suffered by any

person through the use or reliance on anything contained in or omitted in this presentation.

Certain information in this presentation refers to the intentions of Speewah Metals, but these are not intended to

be forecasts, forward looking statements or statements about future matters for the purposes of the Corporations

Act or any other applicable law. The occurrence of events in the future are subject to risks, uncertainties and

other factors that may cause Speewah Metals actual results, performance or achievements to differ from those

referred to in this presentation. Accordingly, Speewah Metals, its director’s officers, employees and agents do not

give any assurance or guarantee that the occurrence of the events referred to in this presentation will actually

occur as contemplated.

Speewah Metals directors and associates own shares in Speewah Metals. The Company recommends investors

obtain their own independent financial and accounting advice before making any financial investment in reliance

upon information contained in this publication.