ELEMENTOS LIMITED — AGM Information 2010

Nov 29, 2010

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30 NOVEMBER 2010

2010 ANNUAL GENERAL MEETING – CHAIRMAN’S ADDRESS TO SHAREHOLDERS

Your Company has done well since it was listed on the Australian Securities Exchange.

The gold and the copper markets continue to perform strongly with many analysts predicting further substantial rises. This is a good industry to be in at this time. Gold at over $1,400 per ounce in Australian dollar terms makes for strong sentiment in the investment community.

Elementos is well positioned to take advantage of that sentiment. We have a number of attractive properties in world-class mineral provinces, and encouraging results from our early exploration of them.

Since we were listed at the end of last year, the management team has worked well together—which is never easy across two continents with the problems of different languages and different time zones.

Additionally, the board has developed into a tightly-knit unit-with a nice balance of ages and skills. The recent addition of Mark McCauley has added a new dimension to our deliberations.

Your managing director, Corey Nolan, will present an overall picture of where we are now. You will be pleased with the progress we have made.

The exploration team has accomplished a lot. We have made important progress with our major projects. If you have been following our ASX releases you will have seen—and no doubt been encouraged by—the results of the exploration team’s efforts.

The exploration program in Argentina has yielded encouraging results, especially at our 100 square kilometre holding at Manantiales. Adjacent to Troy Resources’ Casposo mine, we have three strong prospects there: Manantial, Julietta Norte and La Puerta. The first-stage drilling results have been encouraging, to say the least. Further drilling is planned for next year, including the high-grade gold-silver zone intercepted at Manantial during the inaugural drilling program

Santo Domingo is opening up as potentially a major new minerals district. Our Yvette prospect appears to offer potential as a silver and base metal discovery. And Divisoria appears to be a gold-copper porphyry system offering significant potential for further exploration.

The news of these reports of these discoveries has attracted a number of enquiries from other companies which we are now evaluating

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In Australia, we have been encouraged by the preliminary work at our Millenium project in Queensland, and have now filed applications to extend our holdings along strike. Following further work, we hope to be in a position to begin drilling that project later next year.

At Cathedral Rocks in Northern New South Wales, we have identified several targets to work on, with the aim of drilling in the second half of 2011. Recently, however, we decided not to exercise the options we held on two lesser projects in the same region.

Whilst we have been undertaking this extensive exploration program, we have also been examining a range of new exploration opportunities, and we have considered a number of potential mergers and acquisitions.

It has been a busy, but encouraging few months since our listing.

Led by our managing director, Corey Nolan, the Elementos team has performed exceptionally well during the year. And on your behalf, I would like to commend them all for a job well done. It is never easy with a new company, but the collaboration of the entire team has been first class.

For more information, please contact:

Corey Nolan Managing Director Phone: +61 (7) 3871 3985 Email: admin@elementos.com.au

Elementos is an Australian, ASX-listed, exploration company, with a number of projects in Argentina and Australia, which offer an attractive investment environment. The properties are all in mineral rich, highly prospective provinces, with developed infrastructure nearby.

Please visit us at www.elementos.com.au

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