ALTAMIN LIMITED — AGM Information 2011

Jun 6, 2011

7 June 2011

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ASX Announcement

General Meeting Presentation

ASX Code EMX

ABN 63 078 510 988

Please find attached a copy of the Managing Director’s presentation that will be delivered to shareholders at the general meeting of Energia Minerals Limited being held at 10:00am WST today.

For further information contact:

Keren Paterson For media enquiries contact: Managing Director Nicholas Read info@energiaminerals.com Read Corporate +61 8 9321 5000 +61 8 9388 1474 info@readcorporate.com.au

About Energia Minerals

Energia Minerals Limited is positioned to capitalise on the growing demand for nuclear energy as a key component of the alternative energy mix. Energia Minerals is a highly focused uranium exploration and development company with an exciting portfolio of projects in Australia and Italy covering over 5,500km[2] in 21 granted tenements and 9 under application.

In the Carnarvon Basin Uranium Province of Western Australia the Company has an Inferred Mineral Resource of 13Mt @ 320ppm U3O8 for 9.2Mlb of U3O8 (at 100ppm U3O8 cut-off) located to the south of Paladin’s Manyingee (24Mlb) and Cauldron’s Bennett Well (4.8Mlb) deposits.

PO Box 1785 West Perth WA 6872

Level 2, 20 Kings Park Road West Perth WA 6005

T: + 61 8 9321 5000 F: + 61 8 9321 7177 E: info@energiaminerals.com W: www.energiaminerals.com

Board of Directors Tony Iannello Non Executive Chairman Keren Paterson Managing Director Leigh Bettenay Executive Director - Exploration and Development Max Cozijn Non Executive Director Ian Walker Non Executive Director

Company Secretary Jamie Armes CFO and Company Secretary

For further information on the company please go to www.energiaminerals.com or email info@energiaminerals.com.

Competent Person Statement:

Information in this release that relates to Exploration Results and the Exploration Target are based on information prepared by Dr Leigh Bettenay who is a Fellow of the Australian Institute of Geoscientists and a full-time employee of Energia Minerals Limited. Dr Bettenay has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken 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”. Dr Bettenay consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

The Mineral Resource at Carley Bore is based on information compiled by Dr Leigh Bettenay who is employed by Energia Minerals Limited and Mr Neil Inwood who is employed by Coffey Mining Limited. Mr Inwood visited the site from 23-25 April 2010 and Dr Bettenay last visited the site at this time also. Dr Bettenay is the Competent Person responsible for the drilling assay database, QA/QC validation and density measurements. Mr Inwood is the Competent Person responsible for the resource estimation and classification.

Both Dr Bettenay and Mr Inwood have sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to qualify as Competent Persons as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”.

Both Dr Bettenay and Mr Inwood have consented to the inclusion in this release of the matters based on his information in the form and context in which it appears.

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Page 1 of 23

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Energia Minerals General Meeting 7 June 2011

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Keren Paterson, Managing Director
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Disclaimer

The following disclaimer applies to this presentation and any information provided regarding the information contained in this presentation. You are advised to read this disclaimer carefully before reading or making any other use of this presentation or any information contained in this presentation. In accepting this presentation, you agree to be bound by the following terms and conditions, including any modifications to them.

This presentation has been prepared by Energia Minerals Limited (“Energia Minerals”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and though Energia has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Energia.

The information contained in this presentation is for information only and does not constitute an offer to sell, issue or arrange to sell securities or other financial products. Any forward‐looking statements included in this document involve subjective judgement and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to Energia Minerals. In particular, they speak only as of the date of this document, they assume the success of Energia’s strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks.

Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (“Recipients”) are cautioned to not place undue reliance on such forward‐looking statements. Part performance is not guarantee of future performance.

Energia Minerals makes no representation or warranty, expense or implication as to the accuracy, reliability or completeness of information or the likelihood of achievement or reasonability of forecasts, prospects or returns capital in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued.

To the extent permitted by law, Energia Minerals and its related bodies corporate and any of their respective officers, employees and agents and any other person (“Agents”) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Energia Minerals and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information.

This presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. You are totally responsible for forming your own opinions and conclusions on such matters in the market and for making your own independent assessment of the information. You are solely responsible for seeking independent profession advice in relation to the information and any action taken on the basis of the information. All currency amounts are in A$ unless stated otherwise.

The information in this presentation concerning the Carley Bore Mineral Resources and Exploration Target is a high level summary of historical information previously released in the public reports issued by Energia Minerals. This information should be read in conjunction with the assumptions and qualifications contained in the ASX announcement released by Energia Minerals on 17 February 2011. That information was prepared in accordance with JORC and was issued with the prior consent of Competent Persons.

Competent Person Statement: The information in this release that relates to Exploration Results and/or Mineral Resources is based on information prepared by Dr Leigh Bettenay who is a Fellow of the Australian Institute of Geoscientists and a full-time employee of Energia Minerals Limited. Dr Bettenay has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken 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”. Dr Bettenay consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

Exploration Target: The Exploration Target is conceptual in nature and has yet to be fully drill tested. There has been insufficient exploration (ie. close-spaced drilling) to define a JORC compliant mineral resource and it is uncertain if future exploration will result in the determination of a further mineral resource within it.

The release, publication or distribution of this presentation in jurisdictions outside of Australia may be a violation of application laws.

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Corporate Snapshot

Capital Structure

Share Price (6 June 2011)	$0.092
Shares on issue	79.3M
Tranche 2 shares to be issued	30.2M
Market Capitalisation Cash at 31 March 2011 Net Placement proceeds Debt Enterprise Value	$10.1M $2.8M $4.6M Nil $2.7M
Unlisted Options 12 Month High / Low	21.4M $0.395 / $0.09

Strategic Objective

To be a successful uranium exploration and project development company that continuously enhances the value of our projects from exploration through to production whilst engaging with our community with integrity and respect. To deliver a premium geographically diversified uranium investment opportunity.

Shareholder Profile (post Tranche 1)

Carbon Energy	36.6%
Lujeta	9.3%
Top 40	71.7%
Directors and Management
Non Executive Chairman	Tony Iannello
Managing Director and CEO	Keren Paterson
Exec. Dir. – Exploration & Development	Leigh Bettenay
Non Executive Director	Max Cozijn
Non Executive Director	Ian Walker
CFO and Company Secretary	Jamie Armes

EMX Share Price since listing 24/12/2009

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$0.40
$0.35
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EMX and uranium price movement
since The Great East Japan Earthquake
20% (US$)
10%
0% Uranium long-term price
-10%
Uranium spot price
-20%
-30%
-40%
EMX share price
-50%
-60%
-70%
26-Feb-11 08-Mar-11 18-Mar-11 28-Mar-11 07-Apr-11 17-Apr-11 27-Apr-11 07-May-11 17-May-11 27-May-11 06-Jun-11
Uranium Spot Price (US$) Long term Price ($US) EMX(US$) Source: Tradetech
% Movement
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Australian Project Locations

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Carnarvon Basin Project

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Carley Bore, Nyang Project

60km Palaeochannel - hosting roll-front uranium mineralisation

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Carley Bore, Nyang Project

• To date ~8,000m of drilling has identified an

• Inferred Mineral Resource of 9.2Mlb @320ppm U3O8 at a cut-off of 100ppm

• Exploration Target of 15 – 25Mlb @ 300ppm – 500ppm U3O8

• The deposit

• has a strike length 3.25km and is open to the north and south

• Is tabular , ~4.5m thick and lies about 60m below surface

• water table depth ~30m below surface and stock water (low dissolved solids)

• Potentially amenable to in situ recovery mining (ISR)

• Close to essential infrastructure including the North West Coast Highway and the Dampier Bunbury gas pipeline.

• Awaiting assay results of the May 2011 program of 6,600m focusing on the southern extension of the deposit.

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Carley Bore, Nyang ProjectCarle Bore

May 2011 Drilling Program

• 6,600m of drilling (reduced program from 8,000m due to heavy rain)

• Infill 1.7km to the south of the current Inferred Resource where high grade results exist including -

• 6m @ 1,480ppm U3O8 (LYAC0161) - 0.9m% 6m @ 818ppm U3O8 (LYAC0160) – 0.5m%

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• Extend drilling to the south

• Infill drilling in northern high-grade zone

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Carley Bore, Nyang Project

Bottle-roll test

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120%
100%
80%
60%
40%
Average 80% recovery with low acid consumption
20%
0%
0 10 20 30 40 50
Leach Time (Hours)
Composite 1-R Composite 2-R Composite 3 Composite 4-R Composite 5-R Composite 6
Recovery (%)
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Jun-11

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Carley Bore, Nyang Project

Carley Bore Resource Growth

60km long Carley Bore Palaeochannel ready to drill ? Mlb U O 3 8 Exploration Target  15-25Mlb @ 300-500ppm U3O8 February 2011 Update 9.2Mlb @320ppm U3O8

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3.25km strike length
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1.9km strike length



Exploration Target: The Exploration Target is conceptual in nature and has yet to be fully drill tested. There has been insufficient exploration to define a JORC compliant mineral resource and it is uncertain if future exploration will result in the determination of a further mineral resource within it.

July 2010 Maiden Resource 7.5Mlb @ 280ppm U3O8

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Australian Project Locations

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Table Top Project

• 15km North West of Kintyre

• same geological setting

• 4 Electromagnetic targets

• Currently negotiating Heritage Agreement

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South Australia

• 8 granted tenements covering 1600km[2]

• 2 tenements in Frome Basin, targeting -sandstone hosted rollfront uranium

• 6 tenements in Gawler Craton, targeting iron oxide-copper-golduranium (IOCG-U) deposits like Olympic Dam

• Current work program

• Drill targets identified

• Heritage agreement in place for all Gawler tenements

• Preparing for field heritage clearance for drilling targets

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Gawler Project

• Projects along the Prominent Hill – Olympic Dam line and along a possible parallel feature to the north - east

• • Looking for gravity feature close to magnetic feature and near major structure

• • Completed close-spaced ground gravity over selected targets

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Image: depth to crystalline basement (Tonkin 2010)

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Lake Eyre

• Conducted detailed gravity grids on regional magnetic targets

• Identified a strong drilling target at LE4

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West Lake Eyre – LE4

• Strong magnetic feature

• Truncated by a regional structure

• Associated with a strong gravity low

• Possible depth ~250m

Gravity anomaly - LE4 3g/cc density shell viewed looking NW strong (35gu) anomaly plunging SW from ~250m

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Gravity anomaly LE4 (EL3958) on regional magnetics

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EL 3958
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Energia Minerals Project Locations

Australia

Italy

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• Italian Project Locations

• • 7 granted tenements (base metals)

• • 2 applications for uranium tenements – 39km[2]

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Italy

Novazza

• Fully developed underground mine – never stoped.

• 6km of drives, ventilation and escape shafts – for exploration.

• Historical estimates provide an Exploration Target of 2.5 – 3.0Mlb between 0.1% and 0.2% U O . 3 8

• Mineralisation is open along strike and at depth.

Val Vedello

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• Similar geology to Novazza, reported to be larger, but at a lower grade.

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Australian Listed Uranium Exploration and Development Companies Comparative Enterprise Value per lb U3O8 A$, showing resource grade at 4 June 2011 Companies with sandstone hosted mineralisation potentially amenable to ISR in CAPITALS

$7 Summit Resources, 643ppm $6 PENINSULA MINERALS, 449ppm $5 Industry average cost of discovery $4/lb $4 $3 CAULDRON ENERGY, 296ppm MANHATTAN CORP, 310ppm $2 Toro Energy, 467ppm Deep Yellow, 269ppm $1 CURNAMONA ENERGY, 260ppm Energy & Minerals Aust, 491ppm Berkeley Resources, 447ppm URANIUMSA, 283ppm Bannerman Resources, 193ppm Stonehenge Metals, 320ppm ENERGIA MINERALS, 320ppm BLACK RANGE MIN, 570ppm $- 0 20 40 60 80 100 120 140 160 180 200 Resource Mlb U3O8 Source: CRU Uranium Mining Cost Service 2010 A-Cap Resources Bannerman Resources Berkeley Resources BLACK RANGE MIN CAULDRON ENERGY CURNAMONA ENERGY Deep Yellow ENERGIA MINERALS Energy & Minerals Aust MANHATTAN CORP PENINSULA MINERALS Stonehenge Metals Summit Resources Toro Energy URANIUMSA

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Why Invest in EMX?

• High quality geographically diverse uranium exploration portfolio - over 5,500km[2] , majority granted tenements – all 100% EMX owned.

• Inferred Resource estimate at Carley Bore of 9.2Mlb U3O8 with an Exploration Target of 15-25Mlb and strong potential to grow within the 60km long palaeochannel.

• Resource strike length 3.25km

• Remainder of the 60km long palaeochannel largely untested

• Awaiting assays for 6,600m of drilling to potentially extend the resource area

• Initial metallurgical tests returned >80% recovery , with low acid consumption – promising indication for in situ recovery project economics.

• Large tenement package in South Australia with potential for sandstone hosted and IOCG-U style mineralisation with drill targets ready for site heritage surveys.

• In Italy, we’re continuing stakeholder engagement to obtain the grant of the tenements.

• Current Enterprise Value per pound resource – well below industry discovery costs.

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