ELEMENTOS LIMITED — Regulatory Filings 2012

Mar 12, 2012

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13 MARCH 2012

MERCEDES ONGOING SAMPLING RETURNS HIGH-GRADE COPPER VALUES

Highlights

• High-grade copper values of up to 3.5% from initial sampling at Ignacia

• Eighteen out of twenty-one rock-chip samples assayed greater than 1% copper

• Multiple styles of copper oxide mineralisation identified in two one-kilometre long structures, increasing the potential to define a resource

• Results of the recently completed airborne geophysics survey are pending

Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce further results from the on-going mapping and geochemical sampling program at the Mercedes Project, northern Chile.

Twenty-one rock-chip samples of exposed mineralisation in outcrop and artisanal mine workings in the Ignacia and Mecha [1] prospects have returned high-grade copper values with anomalous silver and molybdenum. Highlights include:

• One kilometre long mineralised trends in the Mecha and Ignacia prospects;

• Initial sampling at Ignacia assaying up to 3.5% copper, 22 g/t silver and 9 g/t molybdenum, with ten out of eleven samples over 1% copper; and

• New sampling at Mecha assaying up to 2.7% copper, 35 g/t silver, with eight out of ten samples over 1% copper.

Three distinct styles of copper oxide mineralisation have been identified at the Ignacia and Mecha prospects:

1. Contacts between the andesite subvolcanics and sedimentary host-rock;

2. Stratiform mantos along fault contacts and fold hinge zones; and

3. High-angle breccia and vein structures.

The consistently high copper values, variety of mineralisation and widespread distribution all reinforce the potential to identify significant volumes of near-surface copper oxide mineralisation across the project.

The mapping and sampling programs are continuing over the near-surface highgrade targets, as well as the deeper porphyry prospects, to aid in the generation of drill targets.

The recently completed airborne magnetometry survey (results pending) and planned ground surveys should provide a rapid indication of the size and extension of the structures and mineralised bodies, as well as developing geological models for drill testing.

1 The Mercedes prospect has been renamed Mecha to avoid confusion with the Mercedes Project.

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Figure 1: Distribution of copper (Cu) sample results across the project area.

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Figure 2: Artisanal pit (left) and close up of the outcrop (right). A representative sample of this material (CL003857) returned 0.9% copper and a selective sample (CL003858) returned 2.7% copper.

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Figure 3: Copper oxide mineralisation in silicified breccias. A sample of this material from a mine dump (CL003859) returned 2.3% copper.

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Figure 4: Mineralisation along a contact between a sedimentary rock and volcanic unit (CL003865) returned 1.8% copper (left). Disseminated mineralisation along a fault contact between the volcanic and sedimentary units (CL005496) returned 2.4% copper in selective outcrop sampling (right).

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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 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

Table 1 : Results from the continuing geochemical sampling program at Mercedes.

Sample Number		Easting UTM	Northing UTM	Altitude (m)			Copper (%)	Gold (g/t)	Silver (g/t)	Molybdenum (g/t)
	Prospect				Description	Sample Type
		WGS84	WGS84
					Faulted volcanoclastic manto
CL003851	Ignacia	576700	7516116	3552		Chip	3.218	<0.005	16.2	4
CL003852	Ignacia	576046	7516038	3520	Faulted mineralised sediments	Chip	3.531	<0.005	22.1	3
					Faulted mineralised sediments
CL003853	Ignacia	576025	7516039	3532		Chip	1.603	<0.005	9.6	1
CL003854	Ignacia	576802	7516346	3562	Faulted mineralised sediments	Chip Channel	2.063	0.019	19	2
					Faulted mineralised sediments	Chip Channel
CL003855	Ignacia	576794	7516321	3551			2.105	0.007	5.2	3
CL003856	Ignacia	576098	7516002	3531	Silicified fault	Chip Channel	1.284	<0.005	1.7	9
					Volcanic collapse breccia	Chip Channel
CL003857	Mecha	577404	7517660	3554			0.926	0.005	16.2	<1
CL003858	Mecha	577407	7517660	3554	Silicified breccia	Chip Selective	2.699	0.005	34.9	1
						Selective Dump
CL003859	Mecha	577412	7517704	3557	Silicified breccia		2.281	0.008	30.3	<1
CL003860	Mecha	577465	7517720	3550	Patchy manto mineralisation	Chip Channel	1.707	<0.005	15.8	3
					Secondary oxides in sediments
CL003861	Mecha	577333	7517742	3546		Chip Panel	1.303	0.011	13.1	3
CL003862	Mecha	577180	7517660	3539	Sedimentary fold hinge	Chip	1.534	<0.005	4.3	4
					Volcanic-sedimentary manto contact	Chip Selective
CL003863	Mecha	577202	7517607	3557			1.338	<0.005	25.4	3
CL003864	Mecha	577057	7517644	3549	Volcanic-sedimentary manto contact	Chip Channel	0.979	<0.005	15.4	<1
					Volcanic-sedimentary manto contact
CL003865	Mecha	577060	7517643	3542		Chip	1.829	0.005	28.2	<1
CL003866	Mecha	576755	7517733	3537	Fractured sedimentary manto	Chip	2.201	<0.005	27.7	1
					Volcanic-sedimentary mantofaultcontact
CL005496	Ignacia	576506	7516107	3538		Chip	2.390	<0.005	13.4	1
CL005497	Ignacia	576429	7516071	3536	Volcanic-sedimentary manto contact	Chip Channel	0.563	<0.005	3.4	1
					Volcanic-sedimentary manto contact
CL005498	Ignacia	576386	7516053	3538		Chip	2.645	<0.005	7.6	4
CL005499	Ignacia	576309	7516036	3531	High-angle stratiform manto	Chip	1.229	<0.005	2.2	4
					Mineralised silicified manto
CL005500	Ignacia	576261	7516038	3508		Chip	1.344	0.007	2.8	3

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