ELEMENTOS LIMITED — Regulatory Filings 2012

Apr 15, 2012

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16 APRIL 2012

TAMAYA EXPLORATION IDENTIFIES HIGH-GRADE COPPER STRUCTURES

Highlights

• Geophysical lineaments coincide with mapped high-grade copper sulphide structures, historically mined with copper grades up to 20%[1]

• Multiple mineralised sub-parallel and cross-cutting structures identified for follow-up evaluation

• The preliminary exploration results reinforce the significant potential of the Tamaya property

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce the results from the recently completed ground-magnetometry survey, and the on-going geological mapping, at the Tamaya Project, central Chile.

Preliminary interpretations include:

• The principle mineralised structure is clearly defined over four kilometres of strike length, with off-sets by cross-cutting structures;

• Mapping and geophysics have identified multiple, sub-parallel, north-south trending structures that are also strongly mineralised;

• Several structures host massive calcite veining with sulphide mineralisation;

• Mineralised cross-cutting structures correlate to topographic and outcrop features recognised in the field;

• Several strong magnetic anomalies correlate to recently-mapped, potentially mineralised units in the field;

• Mapping and historic data indicate that most of the old workings appear to be shallow, with the deeper mines localised on the main, higher-grade oreshoots at the intersections of cross-cutting structures.

The ground-magnetometry survey has successfully delineated numerous strong, narrow magnetic anomalies, which correspond with the principle and secondary mineralised veins and their extensions, and helped define the structural and lithological framework for modelling the controls on mineralisation.

The historical mines tend to be concentrated near a strong magnetic low that extends for over four kilometres and is flanked by moderately strong magnetic highs, which warrant detailed investigation.

Mapping to define the mineralisation on surface is continuing. Reporting of geochemical analyses is pending on 115 surface samples.

1 Based on non-JORC-compliant historical data.

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Figure 1: Ground-magnetometry Reduced to Pole map showing location of the 148 project-related geochemical samples collected to date (115 assay results pending). The survey comprised 755 linear-kilometres, walked on a hundred metre inter-line spacing.

The magnetic-high anomalies (magenta) in Figure 1 are coincident with northnorthwest, north-northeast and north-south trending mineralised structures. An indication of the distribution of copper at surface is given by the sample points. The main cross-cutting structures that off-set the mineralisation have a low magnetic susceptibility (blue to green) and a northeasterly trend.

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Figure 2: Reduced to Pole magnetic map draped over Google earth topographic image, interpreted lineations and structures in black, the trace of the main Tamaya Vein in red.

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Figure 3: A 3-D model of the magnetic data indicates the presence of a large magnetic body in the eastern sector, coincident with a potassic intrusive and a westerly dipping magnetic horizon.

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Figure 4: The main Tamaya Vein enveloped by altered and mineralised wallrocks over two metres in width on either side, marked by the red lines. The vein is in excess of six metres in width, with a moderately steep westerly dip.

On-going exploration

Mapping and geochemical sampling programs are continuing over the historic workings and surface exposures. This will be followed by a ground-penetrating poledipole IP geophysical survey, planned to commence in late-April. The aim of this exploration is to aid target definition for drilling (planned for the second quarter subject to drill rig availability).

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 Ltd 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.

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