MINBOS RESOURCES LIMITED — Investor Presentation 2011

Sep 12, 2011

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Emerging African Phosphate Developer

Investor Presentation September 2011

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Important Notice

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Minbos Resources Limited (“ Minbos ”) has prepared this presentation (the “ Presentation ”) solely for the benefit of the Recipient. This Presentation is provided solely for the purpose of assisting the Recipient in its evaluation of Minbos and its phosphate development project.

The Presentation has been released to the Recipient on the express understanding that the contents will be regarded and treated as strictly confidential. The Presentation is solely for the benefit of the recipient and may not be reproduced or used, in whole or in part, or given to any other person for any purpose without the prior consent of Minbos. The Presentation is designed solely for information purposes. The information contained herein has been prepared to assist the Recipient in evaluating Minbos, but does not purport to be all-inclusive or to contain all of the information that the Recipient may require to evaluate Minbos and its business.

In all cases, the Recipient should conduct its own investigation and analysis of Minbos and its business and the information set forth in the Presentation. While all reasonable care has been taken to ensure that the facts stated herein are accurate and that the forecasts, opinions and expectations contained herein are fair and reasonable, Minbos does not make any representation or warranty as to the accuracy or completeness of the information in the Presentation and shall not have any liability for any information or representations (express or implied) contained in, or for any omissions from, the Presentation or any other written or oral communications transmitted to a Recipient in the course of its evaluation of Minbos. In no case shall any of Minbos’s advisers, or any of their respective directors, officers or employees, be in any way responsible for, or have any liability in respect of, the contents hereof (or any omissions herefrom), and no reliance should be placed on the accuracy, fairness or completeness of the information contained in this Presentation.

All projections, forecasts and forward-looking statements and calculations in the Presentation are for illustrative purposes only using assumptions described herein. The calculations are based on certain assumptions, which may not be realised. In addition, such forward-looking statements involve a number of risks and uncertainties. Actual results may be materially affected by changes in economic, taxation and other circumstances. Minbos disclaims any responsibility for any errors or omissions in the financial calculations set forth in the Presentation and make no representations or warranties as to the accuracy of the assumptions on which they are based. The reliance that the Recipient places upon the projections, forecasts, calculations and forward-looking statements of the Presentation is a matter for its own commercial judgment. No representation or warranty is made that any projection, forecast, calculation, forward-looking statement, assumption or estimate contained in the Presentation should or will be achieved.

Minbos assumes no responsibility to update the Presentation in any respect. Neither this Presentation nor any copy of it may be taken or transmitted into or distributed in the United States. Any failure to comply with this restriction may constitute a violation of US securities laws, as applicable. The distribution of this Presentation in other jurisdictions may also be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions.

This Presentation does not constitute or form part of, and should not be construed as, an offer or invitation to purchase or subscribe for any securities, and neither this Presentation nor anything contained herein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

By accepting this Presentation the Recipient agrees to be bound by the foregoing limitations.

The information in this report has been reviewed and approved for release by Mr Tom Evers, MSc, Pr.Sci.Nat, who has over 27 years experience in mineral exploration, and who is the companies Chief Geologist and full-time employee and has sufficient experience in relation to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined by the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (The JORC Code 2004 Edition). Mr Evers has consented to inclusion of this information in the form and context in which it appears.

1 The exploration target must be regarded as provisional indication of likely quantities and grades only and is based on drilling, geophysics, geological studies, imagery analysis, metallurgical test-work and preliminary modelling work to date. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in determination of a Mineral Resource.

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Why Phosphate

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Phosphate Fertilizers Facilitate

• Root development

PHOSPHATE IS AN ESSENTIAL INPUT FOR FERTILIZERS

• Water-use efficiency

• Early plant maturity

• Higher crop yields

Factors Driving Long-Term Fertilizer Demand

• Rising world population

• Changing diets as incomes grow

• Constraints on arable land

• Govt policies to enhance crop yields

• Programs to encourage use of Biofuels

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*Source: Fertiliser Week and CRU International

40% of world food production is directly linked to fertilizer applications

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Why Phosphate

Phosphate’s contribution to major fertilizer producers

• Vale - 61%

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32% – 33% P O FOB Morrocco 2 5 Average Price over 10 year Period

• Mosaic - 49%

• Phosagro - 90%

Supply

• New supply, high CAPEX & OPEX

• ROM Ore grade declining

• 70% of Phos rock production sold under contract

• Fundamentals support growth in demand and increase in price

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• *www.indexmundi.com (August 2011)

*Source: CRU International, 2011 Phosphate Market Review

“global phosphate consumption is forecast to grow by 45% between 2005 and 2030*”

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Overview of Minbos Resources Ltd

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• Significant landholding (400,000ha) in the Cabinda Province of Angola and Western Democratic Republic of Congo

• Exploration target – 333Mt to 538Mt grading 10% - 20% P2O5, from four (4) deposits within Cabinda licence area (confirmed by Coffey Mining Ltd, Independent Technical Report, Minbos Prospectus 2010)[1 ]

• Commenced drilling in Cabinda during November 2010, to date

• 20,000m of aircore completed

• Inferred resource at Mongo Tando of 117MT @ 13.6% P2O5 (Coffey Mining Ltd, mineral resource estimate June 2011)

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• Cacata and Chivovo have shown significant tonnage of high grade, potentially direct shipping ore (DSO) at shallow depths

• First phase of drilling in the DRC is completed, results have confirmed historic data and resource estimate is underway.

• Companies projects all benefit from close proximity to infrastructure and the coast.

• 1 Refer to Important Notice (Slide 2)

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Republic of Angola

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Rebuilding and African Power

• 3[rd] largest economy in Sub-saharan Africa

• Average growth 2001 – 2010 of 11.1%

• Growth in 2011 expected @ 8.3%

• Since 2002, estimated to have rebuilt 14,000km of roads and 120 bridges

Natural Resources

• No 1 producer of oil in Africa – 2,000,000bpd

• 3[rd] largest producer of diamonds in Africa

• Actively promoting development of mining sector as alternative to oil and gas

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• VALE, De Beers, BHP, Chevron, Exxon Mobil, BP, Petrobas

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Directors and Management

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Peter Richards Executive Chairman

Faldi Ismail Non-Executive Director

Peter has over 30 years of business and international experience with global companies including BP plc, Wesfarmers Ltd and Dyno Nobel Limited. He recently retired as CEO of Dyno Nobel following its successful takeover.

Faldi has many years of experience as a corporate consultant specialising in the restructure and recapitalisation of a wide range of ASX-listed companies.

Dave Reeves Non-Executive Director

Dave has been involved with mining precious, base and industrial minerals throughout his career. He has spent the last 10 years in Southern Africa, most recently at Zimplats and Afplats where he was responsible for the feasibilities and development of the projects. Dave is currently Managing Director of Ferrex Plc, an AIM Listed minerals company.

John Ciganek Non-Executive Technical Director John has over 20 years experience in the mining industry, combining extensive mining engineering and operational experience with investment banking. John is currently Senior Research Analyst at BBY.

Domingoes Catulichi (Zeca) Non-Executive Director

A mining industry professional and a qualified diamond evaluator with over 12 years experience in the exploration and mining industry in Angola. Zeca holds various business interests in Angola including Hotels, transportation, general trading and mining.

Robert McCrae Chief Executive Officer

Robert has been involved in the exploration and mining industry in Africa for 15 years. He has been involved in the development of projects in 18 African countries. His involvement includes the identifying and sourcing, financing, feasibility studies and project development.

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Capital Structure and Share Price

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Volume & Share Price
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“Since listing on the ASX, MNB has experienced a substantial rise in share price from 20c to a intra day high of 65c with a most recent closing price of 40c”

Existing Capital Structure
Total Shares	68.25m
Performance Shares*	35.0m
Market Price 12 September 2011	A$0.40
Market Capitalisation	$27.3m
Options	14.6m
Debt	Nil

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Price (AUD)
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*As at 12 September 2011

Top 5 Shareholders	%
HSBC CUSTODY NOM AUST LTD	11.37
CHIKAPA COMERCIO	7.90
WILGUS INV PL	5.86
JCJ INV SA	5.35
ROMFAL SIFAT PL	3.08

*25 million Class A Performance (“CAP”) Shares at a price of A$0.20 each granted upon a JORC resource of 250mt of greater than 12.5% P2O5 within 18 months at Cabinda; and

*10 million Class B Performance (“CBP”) Shares at a price of A$0.20 each granted upon a JORC compliant “indicated” resource with greater than 25mt of greater than 12.5% P2O5 within 24 months at DRC.

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Cabinda Project Overview

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• 50:50 JV with LR Group

• LR – private multinational company with 20 year track record in Angola

• 20,000m of aircore drilled since November 2010

• Five deposits: Mongo Tando, Cacata, Chibuete, Chivovo, Ueca

• Maiden Resource Estimate of 117mt @ 13.6% P2O5 announced for Mongo Tando in March 2011*, still open

• Resource Estimate for Cacata of 22.5Mt @ 21.4% P2O5 announced in August 2011*

• Scoping study commenced on a Direct Shipping Ore (DSO) operation from Cacata

• Global Resource Estimate for all five orebodies due 4th quarter

• Diamond drilling to upgrade Cacata and Mongo Tando to indicated resource planned 4th quarter

*Coffey Mining resource estimates for Mongo Tando dated June 2011 and Cacata dated August 2011

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Mongo Tando

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117Mt @ 13.6% P2O5 Inferred Resource Estimate* & set to increase

• Mongo Tando was the focal point of historical exploration and 1st deposit drilled by Minbos

• Additional drilling has recently been completed and is expected to significantly increase the resource estimate

• Bench scale met testwork on Mongo Tando ore grading 8.5% P2O5 was upgraded to 34.7% P2O5 at a recovery of 62%**

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• *Coffey Mining resource estimates for Mongo Tando dated June 2011

**Behre Dolbear testwork report dated March 2011

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Cacata and Chivovo – High Grade Potential

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Cacata – 22.5Mt @ 21.4% P2O5 Indicated Resource Estimate*

• Cacata is high grade and has DSO potential

• Indicated Resource Estimate includes 22.5Mt @ 21.4% P2O5

• Scoping study for a standalone DSO Phosphate rock export operation has begun and due for completion January 2012

• Chivovo field results mirror Cacata and confirm historic data

• Chivovo potentially provide additional DSO resources to DSO project

• Resource estimate for Chivovo is expected in the 4th quarter

*Coffey Mining resource estimates for Cacata dated August 2011

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Chibuete & Ueca – Growing Cabinda Resources

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Ueca

• Ueca was the 2nd deposit to be drilled by Minbos

• A total of 41 holes were drilled for 4,168m

• Orebody: 6.3km strike length; 400m wide defined

• Average width of the mineralisation is 12.5m

• Additional drilling currently underway

• Resource estimate is expected during the 4th Quarter

CHIBUETE

• Chibuete was the 4th deposit to be drilled by Minbos

• A total of 61 holes were drilled for 4,168m

• Orebody: 8km strike length; 500m wide defined

• Average thickness of the mineralisation is 36m

• Resource estimate expected during the 4th Quarter

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DRC Project Overview

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Kanzi – Exciting regional potential

• Kanzi deposit - Granted

• Kanzi drilled in 1974 and 1978-1980.

• Historical NON JORC Resource*, 30Mt @ 15% P2O5

• Minbos completed 1st phase drilling, results inline with historic data

• Regional Potential – Under Application

• 200,000ha of prospective ground (equal to Cabinda)

• Area contiguous to the high grade Cacata deposit to be tested

• *Independent Technical Report, Minbos Prospectus 2010

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Kanzi – Recent highlights, scoping study planned

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Potential development target

• 52 aircore holes drilled

• Field results in line with historical data

• 8km strike length; 500m width

• Mineralization thickness: average of 8.6m

• Strip ratio average 4:1

• Average grade of 15.4% P2O5

• Resource estimate expected 4th quarter

• Scoping study to commence asap after resource estimate

• Historical metallurgical test work produced a concentrate of 34% P O with recoveries of 60%-70%* 2 5

• Located 35km, by tar road, from the port of Boma - can facilitate ships to 9m draft

• *Independent Technical Report, Minbos Prospectus 2010

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Regional Infrastructure

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Located close to major infrastructure - good access to ports

• Projects located within 50km of the ocean

• Area heavily populated by oil companies

• Excellent services and accommodation

• Regional roads have undergone upgrading

• 35MW power station being built in Cabinda

• Boma Port – DRC

• Cacongo area – Identified by POA for Cabinda

• Local supplies of ammonia and sulphur available from oil industry

Port of Boma

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Cacongo Wharf
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Regional Roads
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Power Station Cabinda
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Peer Review

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Company	Legend	MineMakers	Stonegate Agricom	Aguia Resources	MBAC Fertilizer Corp	Minbos	Minbos
Exchange & Ticker	US: OTC BB	ASX: MAK	TSX: ST	ASX: AGR	TSX: MBC	ASX: MNB
Country	Australia	Australia / Namibia	Peru	Brazil	Brazil	Angola / DRC
Market Cap / Implied Value USD	104	95.2	221.8	53.8	194.6	32.6
Operating Cost USD/t	109	100	Unknown	Unknown	Unknown	45***
Logistics Distance	Rail & Road, 1,100km	Rail & Road, 1,200km	Rail & Road, 250km	Road, 200km	Domestic supply only	Road, 30km
JORC Resource Tonnes (Mt)	135	1,105	376		82.8	117	22.5
JORC Resource Grade	13.8%	18.0%	9.0%		5.4%	13.7%	21.4%
Current Status	BFS	BFS	Exploration	Exploration	BFS	PFS

*Peer Review, 30 August 2010

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MINBOS – ready to deliver value !

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Minbos is due a rapid valuation re-rating

Undervalued versus Peers

• Technical Milestones – next 6 months

• Global JORC compliant resource for Cabinda due 4th quarter

• Chivovo, Chibuete and Ueca resource estimates imminent

• Mongo Tando upgraded resource estimate imminent

• 333Mt to 538Mt @ 10 to 20% P2O5 exploration target

• DSO scoping study for Cacata due 1st quarter 2012

• Kanzi potential confirmed , resource estimate due

• Scoping study for P2O5 rock export operation on Kanzi starting 4th quarter

Proven BOD and Management Team

Strong partners and Govt support

Projects potential clearly demonstrated, with clear development path

Significant upside with project areas

Potential value add thru downstream fertiliser products

Strong Phosphate Fundamentals supporting demand and price

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THANK YOU !

www.minbos.com