ELEMENTOS LIMITED — Regulatory Filings 2012

Jun 19, 2012

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20 JUNE 2012

MANANTIALES UPDATE – NEW VEIN TARGETS IDENTIFIED

Highlights

• A cluster of new prospective vein targets identified in close proximity to the Manantial, Manantial Este and La Puerta veins

• Initial rock chip sampling at the new Valentina vein prospect returned high grade gold up to 17.9 g/t and silver up to 36 g/t

• Potential for multiple new high-grade gold-silver vein systems within the Manantiales project

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to report the results of rock chip samples on a number of new veins identified within the Manantiales gold-silver project in San Juan Province, Argentina.

A cluster of new veins have been identified in the south-western corner of the Manantiales tenement, in close proximity to the Manantial, Manantial Este and La Puerta vein systems. The majority of the new veins are topographically lower than the Manantial vein, and are interpreted as representing a higher level within the epithermal environment. This is based on the high proportion of calcite–quartz, low silver content, and indications that the host rock is similar to that at the Manantial vein, where the company has drilled the upper levels of a mineralised epithermal system.

Valentina Vein

The Valentina vein is situated 2.5 kilometres east of the Manantial vein and 2.5 kilometres west of the La Puerta prospect. Initial representative rock chip samples have returned high-grade gold values with anomalous silver.

Highlights include:

• Three high-grade rock chip samples returning 17.9 g/t gold and 36 g/t silver, 12.7 g/t gold and 26 g/t silver, and 10.1 g/t gold and 27 g/t silver;

• An additional five rock chip samples above 4.0 g/t gold including peaks of 8.59 g/t gold and 9 g/t silver; and

• The structure remains open along strike with samples in the northern and southern ends returning 6.91 g/t gold and 12.7 g/t gold respectively (Figure 2).

The Valentina vein is a narrow quartz-calcite and chalcedony epithermal vein hosted within felsic volcanic rocks (Figure 2). Three segments have exposed over 400 metres strike as discrete outcrops within shallow talus cover on steep slopes. Exposed widths range between 0.3 to 1.5 metres, although due to the extensive talus soil cover true widths are not known.

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Other New Vein Systems

A number of additional, relatively unexplored, vein targets have been identified. Initial sample results include:

• Colorados - a quartz-calcite vein 150 metres long and 0.5 to 2 metres wide. Channel sampling returned best values of 0.5 metres at 5.38 g/t gold, 0.8 metres at 2.16 g/t gold and 0.65 metres at 0.89 g/t gold;

• Colorados Sur - two parallel quartz–calcite veins, 1.5 km south of Colorados. Channel sampling returned best values of 0.64 metres at 1.48 g/t gold and 1.5 metres at 0.79 g/t; and

• Gabo vein - located 0.8 km east of Colorados vein. A 190 metre long quartz– calcite vein in discrete outcrops with widths between 0.5 to 7 metres. Channel sampling returned best values of 0.68 metres at 3.15 g/t gold, 0.57 metres at 2.26 g/t gold, 0.82 metres at 1.85 g/t gold and 1.15 metres at 1.43 g/t gold.

Further sampling and mapping will be required to test the true width and strike extent of the vein systems.

Next Steps

During the winter, the Company will focus on compiling all the results produced to date for future exploration and drill planning purposes.

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, exploration company, with a number of projects in Chile, 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

SAMPLE QUALITY CONTROL AND ASSURANCE

All sample widths presented are Intersection or Apparent Widths and may not represent the true widths of the mineralisation. Assay results presented are Certified Final Assays. A 0.5ppm gold cut-off grade was used at the beginning and end of the reported mineralised intersects.

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.

Check assaying of all samples assaying greater than 1.0 g/t gold is completed by AcmeLabs. Samples returning greater than 10 g/t gold and/or greater than 100 g/t silver are assayed using gravimetric analyses. Standard, blank and duplicates samples are used throughout the sample sequence as checks for the diamond drilling reported in this release.

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 its subsidiaries, 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 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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Valentina Prospect
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Figure 1: Location of the Valentina vein.

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Figure 2: Valentina vein area reconnaissance rock chip sampling results. Orange dotted lines show areas of non-exposed veining.

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Table 1: Results of reconnaissance rock chip and channel sampling at Manantiales

Sample ID	Easting GK	Northing GK	Altitude	Sample Type	Description	Gold	Silver	Prospect
			(metres)			(ppm)	(ppm)
5190	2433973	6554572	3153	Channel	Host Rock	<0.01	<1	Gabo
5191	2433975	6554558	3159	Channel	Host Rock	0.01	<1	Gabo
5193	2433976	6554558	3166	Channel	Host Rock	0.04	<1	Gabo
5194	2433974	6554560	3166	Channel	Host Rock	0.01	<1	Gabo
5195	2433974	6554559	3166	Channel	Quartz-calcite vein	1.85	<1	Gabo
5196	2433974	6554557	3166	Channel	Quartz-calcite vein	1.43	<1	Gabo
5197	2433973	6554555	3170	Channel	Quartz-calcite vein	2.26	<1	Gabo
5198	2433974	6554550	3164	Channel	Quartz-calcite vein	3.15	<1	Gabo
5199	2433973	6554548	3163	Channel	Quartz-calcite vein	1.07	4	Gabo
5200	2433980	6554544	3178	Channel	Quartz-calcite vein	0.37	4	Gabo
6803	2433989	6554438	3164	Channel	Quartz-calcite vein	0.28	<1	Gabo
6804	2433996	6554438	3163	Channel	Host Rock	0.35	<1	Gabo
6805	2433995	6554432	3156	Channel	Host Rock	0.01	<1	Gabo
6806	2434004	6554418	3151	Channel	Host Rock	0.25	<1	Gabo
6807	2434003	6554418	3152	Channel	Host Rock	0.08	<1	Gabo
6808	2434007	6554416	3152	Channel	Quartz-calcite vein	0.81	<1	Gabo
6809	2434007	6554416	3153	Channel	Quartz-calcite vein	0.23	<1	Gabo
6810	2434008	6554418	3147	Channel	Quartz-calcite vein	0.72	<1	Gabo
6811	2434009	6554412	3144	Channel	Quartz-calcite vein	0.17	<1	Gabo
6812	2434013	6554412	3143	Channel	Quartz-calcite vein	0.22	<1	Gabo
6814	2434013	6554412	3143	Channel	Quartz-calcite vein	0.05	1	Gabo
6815	2434012	6554412	3143	Channel	Quartz-calcite vein	0.12	<1	Gabo
6816	2434012	6554412	3143	Channel	Quartz-calcite vein	0.38	<1	Gabo
6817	2434011	6554412	3143	Channel	Host Rock	0.09	<1	Gabo
6818	2434009	6554405	3142	Channel	Host Rock	0.01	<1	Gabo
6819	2434009	6554405	3143	Channel	Host Rock	0.01	<1	Gabo
6820	2434008	6554405	3142	Channel	Host Rock	0.01	<1	Gabo
6821	2434014	6554403	3140	Channel	Host Rock	0.08	<1	Gabo
6822	2434014	6554403	3140	Channel	Host Rock	0.25	<1	Gabo
6823	2434012	6554401	3134	Channel	Quartz-calcite vein	0.56	<1	Gabo
6825	2434012	6554401	3134	Channel	Quartz-calcite vein	0.34	<1	Gabo
6826	2434011	6554401	3133	Channel	Quartz-calcite vein	0.01	1	Gabo
6827	2434011	6554401	3133	Channel	Host Rock	0.19	1	Gabo
6828	2434010	6554400	3134	Channel	Host Rock	0.10	<1	Gabo
6829	2434009	6554400	3135	Channel	Host Rock	0.03	<1	Gabo
6831	2433996	6554438	3161	Channel	Host Rock	0.08	1	Gabo
6778	2435082	6552454	3034	Rock chip	Quartz-calcite vein	0.53	<1	Valentina

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Sample ID	Easting GK	Northing GK	Altitude	Sample Type	Description	Gold	Silver	Prospect
			(metres)			**(ppm) **	(ppm)
6780	2435074	6552447	3026	Rock chip	Quartz-calcite vein	0.76	<1	Valentina
6781	2435050	6552406	3036	Rock chip	Quartz-calcite vein	2.19	<1	Valentina
6782	2435042	6552425	3025	Rock chip	Quartz-calcite vein	0.73	<1	Valentina
6783	2435052	6552397	3047	Rock chip	Quartz-calcite vein	0.72	<1	Valentina
6784	2435041	6552359	3048	Rock chip	Quartz-calcite vein	1.02	<1	Valentina
6785	2435048	6552353	3047	Rock chip	Quartz-calcite vein	1.00	<1	Valentina
6786	2435054	6552347	3036	Rock chip	Quartz-calcite vein	0.42	<1	Valentina
6787	2435060	6552345	3042	Rock chip	Quartz-calcite vein	1.84	1	Valentina
6788	2435046	6552322	3052	Rock chip	Quartz-calcite vein	1.17	<1	Valentina
6789	2435054	6552321	3052	Rock chip	Quartz-calcite vein	2.62	1	Valentina
6790	2435056	6552303	3053	Rock chip	Quartz-calcite vein	0.93	<1	Valentina
5424	2434334	6553453	3314	Channel	Quartz-calcite vein	0.89	2	Colorados
5425	2434333	6553454	3315	Channel	Quartz-calcite vein	1.08	<1	Colorados
5426	2433597	6554333	3230	Channel	Quartz-calcite vein	0.15	1	Colorados
5427	2433596	6554335	3229	Channel	Quartz-calcite vein	0.03	<1	Colorados
5428	2433596	6554334	3228	Channel	Quartz-calcite vein	2.16	1	Colorados
5429	2433594	6554334	3227	Channel	Quartz-calcite vein	0.30	<1	Colorados
5430	2433598	6554354	3227	Channel	Quartz-calcite vein	0.10	1	Colorados
5445	2433575	6554378	3216	Channel	Quartz-calcite vein	0.02	<1	Colorados
5446	2433574	6554378	3217	Channel	Quartz-calcite vein	0.05	1	Colorados
5447	2433569	6554388	3203	Channel	Quartz-calcite vein	5.38	3	Colorados
5448	2433569	6554394	3201	Channel	Quartz-calcite vein	0.06	<1	Colorados
5449	2433567	6554393	3199	Channel	Quartz-calcite vein	0.12	<1	Colorados
5450	2433567	6554393	3200	Channel	Quartz-calcite vein	0.01	<1	Colorados
6883	2434488	6552886	3149	Rock chip	Silicified Rhyolite dike	0.02	<1	Colorados
6885	2434505	6552896	3128	Rock chip	Host Rock	0.01	<1	Colorados
6886	2434505	6552923	3128	Rock chip	Host Rock	0.01	<1	Colorados
6887	2434507	6552929	3128	Rock chip	Host Rock	<0.01	1	Colorados
6888	2434796	6553432	3180	Rock chip	Quartz-calcite vein	0.06	<1	Colorados
6889	2434796	6553425	3177	Rock chip	Host Rock	0.06	2	Colorados
6890	2434799	6553250	3099	Rock chip	Calcite-quartz vein	0.11	<1	Colorados
6891	2434839	6553233	3078	Rock chip	Calcite-quartz vein	0.11	<1	Colorados
6892	2434913	6553233	3065	Rock chip	Calcite-quartz vein	0.04	1	Colorados
6893	2434930	6553232	3066	Rock chip	Host Rock	0.10	<1	Colorados
6894	2435017	6553216	3059	Rock chip	Host Rock	0.05	<1	Colorados
6895	2435115	6553053	3001	Rock chip	Calcite-quartz vein	<0.01	<1	Colorados
6896	2435018	6553050	3004	Rock chip	Calcite-quartz vein	0.02	<1	Colorados
6897	2434986	6553052	3018	Rock chip	Calcite-quartz vein	0.02	<1	Colorados
6898	2434889	6553052	3033	Rock chip	Calcite-quartz vein	0.01	<1	Colorados
6899	2434879	6553057	3047	Rock chip	Calcite-quartz vein	0.02	<1	Colorados

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Sample ID	Easting GK	Northing GK	Altitude	Sample Type	Description	Gold	Silver	Prospect
			(metres)			**(ppm) **	(ppm)
6901	2434867	6553067	3054	Rock chip	Calcite-quartz vein	0.02	<1	Colorados
6902	2434858	6553059	3057	Rock chip	Calcite-quartz vein	0.01	<1	Colorados
6905	2434735	6553054	3111	Rock chip	Calcite-quartz vein	0.02	<1	Colorados
6906	2434730	6553047	3103	Rock chip	Calcite-quartz vein	0.02	<1	Colorados
6907	2434710	6553009	3097	Rock chip	Calcite-quartz vein	0.03	<1	Colorados
6908	2434708	6553010	3107	Rock chip	Calcite-quartz vein	0.01	<1	Colorados
6909	2434693	6553004	3115	Rock chip	Calcite-quartz vein	0.03	<1	Colorados
6910	2434680	6553000	3123	Rock chip	Calcite-quartz vein	0.01	<1	Colorados
6911	2434658	6552977	3114	Rock chip	Calcite-quartz vein	0.02	<1	Colorados
6912	2434659	6552959	3121	Rock chip	Calcite-quartz vein	0.03	<1	Colorados
6913	2434657	6552949	3117	Rock chip	Calcite-quartz vein	<0.01	<1	Colorados
6914	2434643	6552950	3100	Rock chip	Calcite-quartz vein	0.03	<1	Colorados
6915	2434643	6552906	3089	Rock chip	Calcite-quartz vein	0.01	<1	Colorados
6916	2434634	6552810	3033	Rock chip	Calcite-quartz vein	0.03	<1	Colorados
6791	2435099	6552462	3017	Rock chip	Calcite-quartz vein	0.10	<1	Valentina
6792	2435114	6552474	3026	Rock chip	Quartz vein	6.91	4	Valentina
6793	2435713	6552885	2927	Rock chip	Calcite-quartz vein	0.01	<1	Valentina
6794	2435706	6552882	2928	Rock chip	Calcite-quartz vein	0.14	<1	Valentina
6799	2434085	6553440	3278	Rock chip	Calcite-quartz vein	0.01	<1	Colorados Sur
6800	2434079	6553442	3278	Rock chip	Calcite-quartz vein	0.01	<1	Colorados Sur
6937	2434079	6553442	3278	Rock chip	Calcite-quartz vein	0.02	<1	Colorados Sur
6938	2434078	6553442	3280	Rock chip	Calcite-quartz vein	0.01	<1	Colorados Sur
6939	2434159	6553437	3275	Rock chip	Quartz vein	0.77	<1	Colorados Sur
6940	2434131	6553418	3277	Rock chip	Quartz vein	1.48	3	Colorados Sur
6941	2434091	6553452	3267	Rock chip	Quartz - calcite stw	0.02	<1	Colorados Sur
6942	2434043	6553436	3268	Rock chip	Quartz - calcite stw	0.23	<1	Colorados Sur
6943	2434040	6553433	3277	Rock chip	Quartz - calcite stw	0.13	<1	Colorados Sur
6944	2434042	6553418	3281	Rock chip	Quartz - calcite stw	0.17	<1	Colorados Sur
6945	2434115	6553373	3289	Rock chip	Quartz - calcite stw	0.01	<1	Colorados Sur
6946	2434124	6553333	3289	Rock chip	Quartz - calcite stw	0.01	<1	Colorados Sur
6947	2434112	6553340	3287	Rock chip	Hydrothermal breccia	0.01	1	Colorados Sur
6948	2434112	6553337	3281	Rock chip	Quartz - calcite stw	0.01	<1	Colorados Sur
6949	2435057	6552306	3050	Rock chip	Quartz-calcite vein	1.70	2	Valentina
6950	2435055	6552309	3053	Rock chip	Quartz-calcite vein	0.53	1	Valentina
6201	2435056	6552292	3050	Rock chip	Quartz-calcite vein	1.52	4	Valentina
6202	2435054	6552284	3055	Rock chip	Quartz-calcite vein	0.86	<1	Valentina
6203	2435049	6552277	3061	Rock chip	Quartz vein	4.39	25	Valentina
6204	2435046	6552273	3065	Rock chip	Quartz vein	4.08	21	Valentina
6205	2435007	6552204	3082	Rock chip	Quartz vein	3.24	13	Valentina
6206	2435007	6552204	3082	Rock chip	Quartz vein	6.26	29	Valentina
6207	2435000	6552197	3083	Rock chip	Quartz vein	10.10	27	Valentina

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Sample ID	Easting GK	Northing GK	Altitude	Sample Type	Description	Gold	Silver	Prospect
			(metres)			**(ppm) **	(ppm)
6208	2434996	6552181	3088	Rock chip	Quartz vein	17.90	36	Valentina
6209	2434992	6552157	3087	Rock chip	Quartz vein	12.70	26	Valentina
6210	2434970	6552109	3088	Rock chip	Quartz vein	8.59	9	Valentina
6213	2434129	6553371	3291	Rock chip	Calcite-quartz vein	0.05	2	Colorados Sur
6214	2434126	6553372	3291	Rock chip	Calcite-quartz vein	0.01	2	Colorados Sur
6215	2434096	6553345	3281	Rock chip	Calcite-quartz vein	0.01	2	Colorados Sur
6216	2434114	6553332	3276	Rock chip	Calcite-quartz vein	0.01	2	Colorados Sur
6217	2434081	6553256	3261	Rock chip	Calcite-quartz vein	0.02	2	Colorados Sur
6218	2434082	6553255	3253	Rock chip	Calcite-quartz vein	0.02	2	Colorados Sur
6219	2434098	6553244	3255	Rock chip	Calcite-quartz vein	0.37	2	Colorados Sur
6220	2434103	6553238	3252	Rock chip	Calcite-quartz vein	0.31	2	Colorados Sur
6221	2434107	6553189	3248	Rock chip	Calcite-quartz vein	0.07	2	Colorados Sur
6222	2434335	6553466	3308	Rock chip	Calcite-quartz vein	0.13	2	Colorados Sur
6223	2434335	6553466	3308	Rock chip	Calcite-quartz vein	0.01	1	Colorados Sur
6224	2434338	6553464	3310	Rock chip	Calcite-quartz vein	0.79	2	Colorados Sur
6225	2434311	6553352	3317	Rock chip	Calcite-quartz vein	0.56	2	Colorados Sur

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MANANTIAL VEIN
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