ELEMENTOS LIMITED — Regulatory Filings 2011

Jun 1, 2011

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02 June 2011

Yvette Norte Update

Highlights

• New parallel, high-grade gold-silver veins discovered within the Yvette Norte structure

• Infill trenching at Yvette Norte intersects high-grade gold veins

• A geophysics program has been planned prior to drilling

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to provide an update on exploration activities at the Yvette prospect in the Santo Domingo Project, Argentina.

New parallel gold-silver veins identified within the Yvette Norte structure

Narrow, high-grade gold, silver and polymetallic veins have been encountered in shallow trenching alongside the Yvette Norte vein. These parallel and sub-parallel veins occur between 10 and 30 metres to the east of the main north-south gold vein.

Highlights of representative (fixed length, continuous channel) rock-chip samples from the trenches include:

• 0.1 metres at 72.4 g/t gold, 112 g/t silver, 0.08 % lead, 5.4 % zinc;

• 0.12 metres at 15.7 g/t gold, 124 g/t silver, 3.1 % lead, 8.7 % zinc; and

• 0.15 metres at 4.17 g/t gold, 161 g/t silver, 1.03 % lead, 0.38 % zinc.

Whilst the new results are encouraging, due to the limited degree of surface exposure of the veins, it is not possible to estimate the density of veining across the structure at this early stage.

High-grade gold results continue at Yvette Norte

Follow-up trench-sampling aimed at infilling hidden portions of a 250 metre long, gold-rich segment of the previously reported Yvette Norte gold-silver-polymetallic vein system continues to deliver high-grade results.

Significant sample results included:

• 0.15 metres at 19.5 g/t gold, 44 g/t silver, 0.12 % lead, 1.1 % zinc;

• 0.1 metres at 5.21 g/t gold, 24 g/t silver, 0.18 % lead, 0.23 % zinc; and

• 0.1 metres at 0.55 g/t gold, 281 g/t silver, 23.1 % lead, 1.44 % zinc.

These high-grade results confirm the continuity of the mineralisation under the areas of talus cover. Due to the steep topography, low surface vein exposure and large amount talus cover, drilling will be required to confirm the average widths of the veins along strike and at depth.

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Trenching program

Manual trenching has been carried out to expose potential mineralisation under shallow talus cover along the poorly-exposed Yvette Norte gold–silver vein. This was carried out with the aim of:

1. Infill-sampling along the known main Yvette Norte structure;

2. Testing the widths of mineralisation; and,

3. Testing the potential for mineralisation in the wallrock.

Infill and sub-parallel vein sampling was performed within a 250 metre section of the vein that contains previous high grade samples:

• 1.4 metres at 26.5 g/t gold and 2,538 g/t silver;

• 0.15 metres at 24.8 g/t gold and 188 g/t silver;

• 0.35 metres at 7.1 g/t gold and 41 g/t silver;

The aim of the program is to increase the sample density along specific areas where there is no surface vein outcrop, as well as to test the potential widths of the system.

The Yvette Norte gold-vein zone is approximately 1.4 kilometres long and comprises poorly exposed, narrow (0.1 metres to 1.5 metres) pinching and swelling veins. Historic workings exploiting high-grade mineralisation in the area exhibit widths of up to 2 metres.

More than 8.5 kilometres of structure containing combined gold and silver veins have now been identified throughout the Yvette area. Elementos has established a spatial relationship between the vein system and the porphyry environment at surface level, increasing the size of the combined mineralised systems.

On-going exploration activities

The Company has planned a combined IP gradient and CSAMT geophysical survey to assist with targeting veins not exposed on the surface and to understand the veins at depth. This program will commence directly after the current program at Manantiales. Following the geophysics, priority targets will be drilled. Earthworks for geophysics and drill rig access are well advanced.

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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Table 1: New assay results at Yvette North prospect

Sample ID	Sample type	Sample length (m)	Gold (g/t)	Silver Eq (g/t)	Silver (g/t)	Lead (%)	Zinc (%)	Rock Type
RA002535	Rock Chip	0.15	4.168	207.78	161	1.03	0.38	Vein
RA002536	Rock Chip	1.20	0.019	3.69	2	NSV	0.04	Host Rock
RA002537	Rock Chip	0.50	0.208	30.63	18	0.05	0.30	Vein
RA002538	Rock Chip	1.00	0.011	1.45	1	NSV	0.01	Host Rock
RA002539	Rock Chip	0.90	0.016	4.52	1	NSV	0.09	Host Rock
RA002540	Rock Chip	0.15	0.429	19.83	7	0.10	0.26	Vein
RA002541	Rock Chip	0.10	1.746	187.96	147	0.37	0.79	Vein
RA002542	Rock Chip	0.15	19.5	88.75	44	0.12	1.10	Vein
RA002543	Rock Chip	0.10	0.907	152.06	49	1.87	1.18	Vein
RA002544	Rock Chip	0.20	0.086	210.93	77	3.50	0.62	Vein
RA002545	Float		8.779	922.48	461	3.72	9.25	Selective
RA002546	Rock Chip	0.30	0.108	231.80	28	3.08	2.86	Vein
RA002547	Rock Chip	0.10	0.553	1064.42	281	23.05	1.44	Vein
RA002548	Rock Chip	0.20	0.651	77.78	61	0.12	0.35	Vein
RA002549	Rock Chip	0.15	10.2	83.45	44	0.15	0.93	Vein
RA002550	Rock Chip	0.10	5.216	38.21	24	0.18	0.23	Vein
RA002701	Rock Chip	0.10	72.4	314.01	112	0.08	5.4	Vein
RA002702	Rock Chip	0.12	15.7	542.76	124	3.11	8.62	Vein
RA002703	Rock Chip	0.10	1.626	186.23	83	0.55	2.31	Vein
RA002704	Rock Chip	0.10	0.055	11.02	1	0.06	0.22	Vein

NSV: Not significant value.

SILVER EQUIVALENT VALUES

The Silver Equivalent (Silver Eq) values were calculated as follows: Silver Eq = Ag (g/t) + (Pb % x 24.25/0.84) + (Zn% x 23.14/0.84). Metal prices used for Silver equivalent calculation: US $26.02/oz for silver, $1.05/lb for zinc, $1.1 /lb for lead (Source. Kitco Metals). Note: Gold has not been included in the Silver Eq equivalent calculation.

SAMPLE QUALITY CONTROL AND ASSURANCE

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 32 elements (15 grams charge) at the AcmeLabs laboratory in Vancouver, all ISO-9001:2000 certified laboratories. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Samples returning greater than 1 % Pb and / or greater than 1 % Zn are assayed using aqua regia digestion ore grade / AAS.

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 Gustavo Delendatti, a member of the Australian Institute of Geoscientists. Mr Delendatti is a full-time employee of Elementos Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which it is undertaking 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.‟ Mr Delendatti 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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