ELEMENTOS LIMITED — Regulatory Filings 2012

Aug 16, 2012

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17 AUGUST 2012

TAMAYA UPDATE – ADVANCES IN THE EVALUATION OF THE BULK TONNAGE POTENTIAL

Highlights

• Channel sampling of bulk tonnage targets confirms significant widths of lowergrade mineralisation surrounding the historically mined high-grade copper vein

• Zones of high-grade copper mineralisation up to 2.48% copper and 1.7g/t gold intersected in these lower-grade margins

• IP geophysical survey to test for both porphyry related and higher-grade sulphide mineralisation scheduled to commence in the coming days

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce the results of 171 surface samples from the Tamaya Project, central Chile.

The aim of the sampling was to test the grade and widths of the lower-grade, bulk tonnage structures which envelop the higher-grade copper vein extracted during the 19[th] Century. All evidence to date implies that production was apparently limited to a small proportion of very high-grade vein hosted ore, reportedly 2Mt @ 12% copper, with grades up to 20% (based on non-JORC-compliant historical data).

Sample highlights from eight prospects sampled along three structures include:

• San Jose Alto – 1.07% copper over 5.2 metres (including 1.9 metres at 2.28% copper), and 2.46% copper and 0.46g/t gold over 2 metres;

• San Francisco – 1.39% copper over 9.3 metres (including 1.7 metres at 2.06% copper and 1.7g/t gold), and 1.10% copper over 6.8 metres;

• Campanil – 2.68% copper over 3.8 metres;

• Lecaros – 1.04% copper over 7.9 metres; and

• El Pique – 0.49% copper over 13 metres.

The results confirm the continuity of the lower-grade mineralisation within the wider envelope that surrounded the high-grade copper vein. The depth potential of these structures will be ascertained by drilling, planned for later in 2012. There is historical evidence that in places these structures were mined down to approximately 700 metres depth, the limit of historical mining methods. This implies there could significant depth potential for the bulk tonnage mineralisation.

On-going exploration will focus, where possible, on identifying areas of remnant and deeper moderate to high-grade sulphide mineralisation like that historically mined. It is expected that additional high-grade mineralisation, similar to that seen underground and in the historic waste, will be intersected at depth during drilling within the structures. This potentially could increase the overall grade of the results encountered during this sampling program.

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Sample Results

Eight prospects along two main trends were sampled during this phase:

• San Jose Alto, San Jose, El Pique, Campino and Campanil along the main structure;

• Lecaros, an offset southern extension of the main structure; and

• San Francisco and Arenillas along the western structure.

The best intersections from sampling to date include:

San Jose Alto

Continuous trend of sheared and silicified rhyolite over 150 metres long and 12 metres wide.

• 1.07% copper over 5.2 metres;

• Including 2.48% copper over 1.9 metres

• 1.00% copper over 8.0 metres;

• 1.05% copper over 4.0 metres; and

• 2.46% copper and 0.47 g/t gold over 2.0 metres.

San Jose

Hosted in rhyolites in the centre of the property, overlying one of the main historic access drives.

• 1.27% copper over 3.0 metres; and

• 1.73% copper over 3.0 metres.

El Pique

South from San Jose, the structure is continuous, pinching and swelling silicified rhyolite breccias up to thirteen metres wide.

• 0.95% copper over 4.4 metres;

• 0.49% copper over 13.0 metres;

• 0.94% copper over 6.3 metres; and

• 1.27% copper over 4.50 metres.

Campino

South from El Pique, the structure at Campino is locally narrower on surface, with maximum widths of two metres.

• 0.93% copper over 1.80 metres.

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Campanil

This is the southern end of the high, main ridge, north of the scarp to the lower and sub-parallel Lecaros ridge.

• 2.68% copper over 3.80 metres; and

• 0.8% copper over 4.80 metres.

Lecaros

Situated at the southern end of the main ridge, and topographically 200 metres lower than the main ridge and offset to the east.

• 0.37% copper over 9.5 metres;

• Including 0.85% copper over 3.2 metres, and

• 1.04% copper over 7.9 metres.

San Francisco

Located on a parallel structure to the main structure on the western flank of the ridge and is hosted in rhyolite intrusive rocks.

• 1.39% copper over 9.3 metres including the mineralised wallrock,

• Including 2.06% copper and 1.7 g/t gold over 1.7 metres in the breccia structure; and

• 1.10% copper over 6.80 metres.

Arenillas

An area of historic workings over three parallel structures in diorite and andesite wallrocks on the ridge to the north of San Francisco.

• 1.42% copper over 4.40 metres.

On-going Exploration Activities

Detailed continuous channel sampling and localised fine-scale mapping programs are underway over the principle targets identified to date. The infill sampling will assist with better understanding the copper grade distributions across the width of the structures and the genesis of the gold mineralisation within the system.

The second phase geophysical survey will commence in the coming days, involving up to 39 line kilometres of Induced Polarisation Pole-dipole (“IPPD”) survey lines, testing for the two styles of mineralisation:

• Porphyry mineralisation in the eastern sector as indicated by the encouraging results of the recent mapping, sampling and ground magnetometry survey; and

• Structurally related mineralisation in the three main north-south structural trends, including the Main Vein that was historically mined for high-grade copper (sulphide) mineralisation.

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For more information, please contact:

Corey Nolan

Managing Director Phone: +61 (7) 3221 7770 Email: admin@elementos.com.au

Elementos is an Australian, ASX-listed, copper and gold exploration company, with projects in Chile, Argentina and Australia. 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 Alistair Grahame, a member of the Australian Institute of Geoscientists. Mr Grahame 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 Grahame consents to the inclusion in the report of the matters based on his information in the form and context.

SAMPLE QUALITY CONTROL AND ASSURANCE

• Chip channel samples by manual sampling, not sawn channels, due to safety factors;

• Sample widths are the apparent widths measured along channels, not true widths, if divergent; and

• Intersections are simple weighted averages of consecutive samples.

Samples were prepared and assayed by ALS Chile (ALS), Minerals Division, at their facility in Coquimbo, an ISO9001:2008 certified laboratory. Methods utilised were:

• Copper assay by Four Acid Digest and Atomic Absorption Spectrometer (AAS);

• Gold assay by Fire Assay (30g) and AAS;

• Thirty-three element ICP_AES; and

• Samples returning greater than 1.0 g/t gold are check analysed by ALS using the same method.

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----- Start of picture text -----

San
Jose
19500N
18500N
San Jose
17500N
El Pique
Arenillas
16500N
Campino
15500N
San Francisco Campanil
14500N
Lecaros
----- End of picture text -----

Figure 1 : Location map of the prospects sampled showing the extent of mapped structures and the proposed IPPD geophysical survey (yellow), superimposed on the Google Earth image. The lines may be altered depending upon the early results to better target any anomalies encountered.

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Table 1: Results of the third batch of reconnaissance samples from Tamaya	Table 1: Results of the third batch of reconnaissance samples from Tamaya	Table 1: Results of the third batch of reconnaissance samples from Tamaya
Prospect and Channel ID	Intersection	Channel Type
LECAROS (LC-01)	3.5 metres at 0.57% copper	CONTINUOUS
LECAROS (LC-02)	2.1 metres at 0.88% copper	ISOLATED
LECAROS (LC-03)	1.1 metres at 0.56% copper	CONTINUOUS
LECAROS (LC-04)	Insignificant values	CONTINUOUS
LECAROS (LC-05)	7.9 metres at 1.05% copper	DISCONTINUOUS
LECAROS (LC-06)	9.5 metres at 0.37%; includes 3.2 metres at 0.83% copper	DISCONTINUOUS
SAN FRANCISCO (SF-01)	9.3 metres at 1.4% copper; includes 5.8 metres at 1.58% copper	CONTINUOUS
SAN JOSE ALTO (SJ-01)	3.6 metres at 1.6% copper; includes 2.0 metres at 2.46% copper and	CONTINUOUS
	0.47g/tgold
SAN JOSE ALTO (SJ-01b)	5.2 metres at 1.07% copper; includes 1.9 metros at 2.48% copper	CONTINUOUS
SAN JOSE ALTO (SJ-02)	8.0 metres at 1.00% copper	CONTINUOUS
SAN JOSE ALTO (SJ-02b)	2.1 metres at 2.04% copper	CONTINUOUS
SAN JOSE (SJ-05)	1.50 metres at 0.86% copper and 4.60 metres at 0.47% copper	CONTINUOUS
SAN JOSE (Isolated Sample)	3.0 metres at 1.27% copper	ISOLATED
954904
SAN JOSE (Isolated Sample)	1.0 metres at 0.21% copper	ISOLATED
954905
SAN JOSE (Isolated Sample)	3.0 metres at 0.89% copper	ISOLATED
954906
SAN JOSE (Isolated Sample)	3.0 metres at 1.73% copper	ISOLATED
954907
SAN FRANSICO (SF-02)	9.90 metres at 0.66% copper; includes 4.0 metres at 1.11% copper	CONTINUOUS
SAN FRANSICO (SF-03)	6.75 metres at 0.56% copper; includes discontinuous sample 1.5	CONTINUOUS
	metres at 1.68% copper
SAN FRANSICO (SF-04)	Insignificant values	CONTINUOUS
SAN FRANSICO (SF-05)	6.80 metres at 1.10% copper; includes 2.0 metres at 1.08% copper	DISCONTINUOUS
	and 1.5 metres at 3.27% copper
ARENILLAS (AR-01)	4.40 metres at 1.42% copper	CONTINUOUS
ARENILLAS (AR-02)	5.40 metres at 0.09% copper	CONTINUOUS
ARENILLAS (AR-03)	2.20 metres at 0.62% copper	ISOLATED
ARENILLAS (AR-04)	Insignificant values	DISCONTINUOUS
ARENILLAS (AR-04a,	0.5 metres at 4.98% copper and 2.3 g/t gold	ISOLATED
Isolated sample)
ARENILLAS (AR-05)	4.0 metres at 0.56% copper	CONTINUOUS
ARENILLAS (AR-06)	4.20 metres at 0.40% copper	DISCONTINUOUS

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Prospect and Channel ID	Intersection	Channel Type
ARENILLAS (AR-07)	3.90 metres at 0.14% copper	CONTINUOUS
EL PIQUE (PQ-01)	13.4 metres @ 0.22% copper; includes 5.1 metres at 0.52% copper	CONTINUOUS
EL PIQUE (PQ-02)	4.4 metres at 0.95% copper	CONTINUOUS
EL PIQUE (PQ-03)	13.0 metres at 0.49% copper	CONTINUOUS
EL PIQUE (PQ-04)	6.3 metres at 0.94% copper	CONTINUOUS
EL PIQUE (PQ-05)	4.50 metres at 1.27% copper	CONTINUOUS
EL PIQUE (PQ-06)	Insignificant values	CONTINUOUS
EL PIQUE (PQ-07)	4.0 metres at 0.18% copper	CONTINUOUS
EL PIQUE (PQ-08)	2.70 metres at 1.05% copper	CONTINUOUS
EL PIQUE (PQ-09)	Insignificant values	CONTINUOUS
EL PIQUE (PQ-10)	Insignificant values	CONTINUOUS
EL PIQUE (PQ-11)	1.50 metres at 1.28% copper	CONTINUOUS
EL PIQUE (PQ-12)	4.10 metres at 0.25% copper	CONTINUOUS
EL PIQUE (PQ-13)	0.80 metres at 1.48% copper	CONTINUOUS
EL PIQUE (PQ-14)	1.30 metres at 1.65% copper	ISOLATED
CAMPINO (CAMP-01)	3.80 metres at0.45% copper	CONTINUOUS
CAMPINO (CAMP-02)	4.25 metres at 0.11% copper	CONTINUOUS
CAMPINO (CAMP-03)	1.80 metres at 0.93% copper	CONTINUOUS
CAMPINO (CAMP-04)	Insignificant values	CONTINUOUS
CAMPANIL (CAML-01)	2.30 metres at 0.46% copper	ISOLATED
CAMPANIL (CAML-02)	3.80 metres at 2.68% copper	CONTINUOUS
CAMPANIL (CAML-03)	4.20 metres at 0.26% copper	CONTINUOUS
CAMPANIL (CAML-04)	4.80 metres at 0.8% copper	CONTINUOUS
NOTE - The work included continuous rock-chip channel sampling where possible,		but in some areas,
the terrain and unstable disused workings required multiple non-contiguous channels in order to
maintain coverage across the width of the structure.

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