ELEMENTOS LIMITED — AGM Information 2011

Nov 16, 2011

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ASX ANNOUCEMENTS AUSTRALIAN SECURITIES EXCHANGE

17 November 2011

CHAIRMAN’S ADDRESS

Following is the Chairman’s Address to be presented to shareholder, by Mr McLellan at the Company’s AGM today.

Chairman’s Address

Your Company continues to make progress in both Australia and in Argentina.

The gold and the copper markets continue to perform strongly with analysts generally remaining bullish. Since this time last year, gold has risen over $300 per ounce in Australian dollar terms, continuing the strong sentiment in the investment community. This is a good industry to be in at this time.

Our early exploration results in Argentina were encouraging, and we all look forward to the final results from the last program.

Our Manatiales project is, of course, adjacent to Troy’s Casposo project with its operating mill, and I expect they are looking over the fence to see how we are progressing. This is a relatively large holding of approximately 100 square kilometres which has only been partly explored. Unfortunately, operations this year were been affected by an unusually miserable winter.

The Santo Doming property is at lower altitudes, and is more “greenfield” in nature. Nonetheless, the early exploration results have been encouraging without being definitive. The next round of geophysics to be undertaken next month will be helpful is defining the areas on which we might best concentrate.

The Millenium Project is located in an outstanding area, with good “nearology”. It appears to be prospective for copper, cobalt, and possibly rare earths. As a result, we have applied for approximately 248 square kilometres of additional exploration permits in the immediate area, and along strike.

Your managing director, Corey Nolan has done an excellent job and has assembled a first-class team. Six months ago, we were joined by Linda Scott as our new chief financial officer who has made a fine contribution. Our exploration and development manager, Alistair Grahame has been busy covering two continents— seeking out and analysing new acquisition possibilities, especially in Argentina and Chile. We are hopeful that his efforts will bear fruit before long.

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And today we have with us the head of our operations in Argentina, Gustavo Delendatti. Gustavo has done an excellent job managing our affairs in that country, and has also been active in seeking out new opportunities for us. We are very grateful to him and his fine group in Argentina.

I also take the opportunity to thank the rest of the team not specifically mentioned for their commitment to excellence during the year.

Your board has developed into a productive, tightly-knit group. The addition of James Calaway, whom I welcome today all the way from Houston—or should I say Buenos Aires—has been of great benefit to us. I apologise for the absence of Mark McCauley today who like other busy people I know found himself conflicted today and sends his apologies.

As previously announced, one of our founding directors, Neil Stuart has stepped down from the board, effective today. I am going to miss Neil’s wisdom and experience, but also as a colleague and a friend. He is already on the high seas enjoying his retirement and we all wish him well.

On Tuesday, the board received an all-day presentation from all the senior executives plus some outside consultants, and yesterday we spent considering our strategy for the coming year. I believe we have developed a coherent, balanced plan that will serve your Company well.

Against this background, I remain optimistic about our future.

A. Anthony McLellan Chairman

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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