ELEMENTOS LIMITED — Regulatory Filings 2010

Mar 1, 2010

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2 MARCH 2010

FOLLOW-UP CHANNEL SAMPLING CONTINUES TO INTERSECT HIGH GRADE GOLD MINERALISATION AT THE MANANTIAL VEIN

Key Highlights

• High grade gold intercepts continue in the follow-up surface channel sampling at the Manantial vein.

• Channel sampling confirms gold-silver mineralisation distributed over 600 metres of strike, including a high grade gold zone of 120 metres within the northern 275 metres of the main exposed vein.

• Exploration activities focused on defining the extent of the Manantial vein ready for drilling in the second quarter 2010 (subject to approval of the Environmental Impact Assessment).

• Commencing exploration activities at the northern extension of the Julieta vein (within the Manantiales project) and the La Puerta zone.

Follow up channel sampling results at Manantial vein

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to report the results from follow-up sampling of the first phase of exploration activities at the Manantiales epithermal project in San Juan Province, Argentina.

New sawn channel surface sampling of the Manantial vein zone produced mineralised intervals including:

• Channel 25 - 1.45 metres[1] 12.3g/t gold and 202g/t silver including 1.1 metres at 14.2g/t gold and 234 g/t silver; and

• Channel 26 - 1.65 metres at 6.3g/t gold and 74g/t silver including 0.7 metres at 7.3g/t gold and 108g/t silver; and 1.3 metres at 8.5g/t gold and 57g/t silver.

Interpretation of the Manantial vein system

Mapping demonstrates that the Manantial vein pinches and swells for some 950 metres along trend north-south, dipping 65º-80º to the east. Vein outcrops are discrete and significant portions of the prospect are covered by overburden material. The main Manantial vein is part of a more complex setting characterized by the development of quartz veins sub-parallel to the main north-sound trend as well as conjugate narrow veins striking northeast.

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1 Sample widths are sample intersection widths and not true widths of mineralisation

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The latest channel sampling program was designed to:

• Infill sample the previously announced 275 metre mineralized zone;

• Extend sampling along the southern extensions of the interpreted Manantial vein; and

• Test for mineralisation in other quartz vein outcrops within the main sericite – silica – limonite alteration envelope.

Infill and vein extension sampling program

Mineralised intervals returned by infill channels 25 and 26 confirmed and improved the grades intercepted during channel sampling in January 2010 (see ASX release 9 February 2010). Sawn channel sampling which tested the main outcropping Manantial north - south vein for some 275 metres along strike resulted in the delineation of a higher grade gold zone of about 120 metres length between Channel 5 in the north and Channel 25 in the south.

Sawn channels 21 and 19 extended the known mineralized vein to approximately 600 metres north-south (see Figure 2). The remaining 350 metres of structure, located south of Channel 19, is characterized by occurrences of narrow quartz +/- calcite veinlets hosted by iron oxide-stained altered rhyolite that have returned gold values up to 0.71 g/t. The planned ground magnetic geophysical survey will be used to test the potential for a wider vein at depth.

Significant saw channel results are tabulated below:

Channel	From (m)	To (m)	Sample Length (m)	Estimated True-Width (m)	Gold (g/t)	Silver (g/t)	Vein strike direction
C19	0	0.8	0.8	0.8	2.04	9	N-S
C21	1.2	2	0.8	0.8	2.66	9	N-S
C25	1	2.45	1.45	1.0	12.30	202	N-S
including	1	2.1	1.1	0.65	14.25	234	N-S
C26	0	1.65	1.65	1.1	6.33	74	N-S
including	0	0.7	0.7	0.7	7.26	108	N-S
and C26	5.35	6.65	1.3	0.6	8.46	57	N-S
C27	0	1	1	0.7	2.74	23	N-S

Note - Sample lengths presented above are sample intersection lengths irrespective of topography of mineralisation and may not represent the true widths of mineralisation.

The latest results combined with ongoing channel sampling, detailed mapping, and a proposed geophysical survey, will be used to define drill targets. Drilling is planned for the second quarter of 2010 (subject to approval of the Environmental Impact Assessment), and preparation is advanced.

Julieta northern extensions and La Puerta sampling program

Ongoing mapping and sampling is planned to test:

• the northern extension of the Julieta vein situated 1.7 kilometres east of the main Manantial vein; and

• new vein zones trending east-west and northwest 1.2 kilometres east of the Manantial vein and about 0.5 kilometres north of the Julieta vein.

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The new geological information collected is expected to define the exposed vein zones over an area of 2 square kilometres in the southwest of the Manantiales Project (see Figure 1).

A systematic exploration program is planned to commence in March at the La Puerta target (located 5.5 kilometres east of the Manantial vein target).

Quality control and assurance

The saw blade channel sample widths presented above are sample intersection widths and may not represent the true widths of mineralisation. Gold assay results presented above are finals and have been calculated using a 0.5 g/t gold cut-off grade. Gold intervals are weighted averages of sample length multiplied by gold grade.

Samples were prepared at the Acme Analytical Laboratories (“AcmeLabs”) preparation facility in Mendoza, Argentina and assayed by fire assay (50 gram charge) at the AcmeLabs laboratory in Chile and for ICP-MS ultra traces level, 53 elements (15 grams charge) at the AcmeLabs laboratory in Vancouver, all ISO9001:2000 certified laboratories.

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 with low sovereign risk. The properties are all in mineral rich, highly prospective provinces, with developed infrastructure nearby.

Please visit us at www.elementos.com.au

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Neil Stuart a fellow of the Australasian Institute of Mining and Metallurgy. Mr Stuart is a Director of Elementos Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking 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.’ Mr Stuart consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Figure 1 : Location of the sampling and mapping at the Manantiales project.

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Figure 2 : The Manantial vein prospect showing channel location and main mineralised intervals along 600 metres strike as well as schematic geology, alteration and structure. New channels are labeled in red and marked with () and previous reported channels are labeled in light brown and marked with (*). Main outcropping vein is placed between Channel 9 (northern end) and Channel 25 (southern end). Highest grades within this vein are concentrated between Channel 5 (northern end) and Channel 25 (southern end).

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Potential northern extension along strike
Southern 350 meters of veining with gold
ranging between 0.05 g/t gold and 0.71 g/t
gold
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