MINBOS RESOURCES LIMITED — Investor Presentation 2012

Aug 8, 2012

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West African Focussed Phosphate Developer

Disclaimer

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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 the Proposal. 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 David Reeves, M. AusIMM, MSAIMM who has over 20 years’ experience in mineral development. Mr Reeves is a non-executive director of Minbos. He 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 Reeves has consented to inclusion of this information in the form and context in which it appears.

Highlights

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• Minbos is a company focussed on developing Phosphate and Potash projects in the highly prospective Congo Basin

• Exploration Licenses held in Angola and the Western DRC – Minbos is the largest holder of Phosphate exploration ground in the Congo Basin

• Two development projects, both high grade with strong economics and well defined routes to production :

• Kanzi Project in DRC - 44 Mt @ 21.4% P2O5

• Cacata Project in Cabinda – 22.5 Mt @ 21.4% P2O5.

Corporate Overview

 Xx Capital Structure
ASX Ticker	MNB
Total shares	110.68m
Performance shares	10m
Options, non tradeable	14.6m
Share Price (6 July 2012)	$0.20/share
Market capitalisation	$22.1m
Cash (30 June 2012)	$2.07m

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Major Shareholders	Shares (M)	%
Chikapa Com & Indust LDA	17.64	15.94
Reeves David	9.96	9.00
JCJ Inv SA	9.78	8.83

Minbos – Price & Volumes

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0.600 1.60
Daily Volume Traded On-Market
Daily Close Price 1.40
0.500
1.20
0.400
1.00
0.300 0.80
0.60
0.200
0.40
0.100
0.20
0.000 0.00
Jun-11 Aug-11 Oct-11 Dec-11 Feb-12 Apr-12 Jun-12
Closing Price (A$) Million Shares
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The Phosphate Market

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• Factors driving growing demand for fertilizer:

 Rising world population

• Changing diets as incomes grow

• Constraints on arable land

• Government policies to enhance crop yields + encourage use of biofuels

• New supply being influenced by:

• High Capex and Opex – mainly due to logistics

• Lower grade ore and concentrates

“Global phosphate consumption is forecast to grow by 45% by 2030”

“7.5% decrease in average grade of P2O5 concentrate supplied (1990-2011)”

• Shift in market towards vertically integrated operations

Phosphate and Potash Projects

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Phosphate and Potash Projects

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• Significant concession area 4000 km[2] in the Congo Basin running from Cabinda, Angola to Western DRC.

• Cabinda Phosphate (50% interest)

• Cacata, Mongo Tando, Chibuete, Chivovo and Ueca deposits with historical and current exploration data.

• Western DRC Phosphate (65% interest)

• Kanzi and Fundu-Nzobe deposits with historical and current exploration data.

 Cabinda Potash

• Dinge potash licence with historical oil exploration including drilling and seismic data.

Phosphate Projects JORC Resources

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Since listing in October 2010, Minbos has delineated a substantial resource of 320Mt at 13.2% P O 2 5

Two high grade DSO style projects at Cacata and Kanzi

Substantial additional resource potential exists

Cabinda Phosphate (Angola)

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Cacata Project

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• Project Status : Commencing Bankable Feasibility Study – High grade resources defined, scoping study confirms robust project economics

• JORC Resource : 30.4Mt total @ 17.2 % P2O5 including 22.5Mt @ 21.4% P O 2 5

• Mining: Free Dig, no drill and blast @ strip ratio of 2: 1.

• Beneficiation: Upgrades to + 34% P2O5 (Phos rock) @ 79% recovery using

• Product Logistics: 90km haul on a sealed road to new port facilities. Covered loading facility at the port to load barges and Panamax vessels offshore.

Cacata Project - Financials

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Project Financials (800ktpa)

• Revenue US $180/t (excludes 12% premium as quoted by CRU Strategies)

• Opex $57/t

• Capex US $157m

• NPV $311m (@ 10% discount) ,

• IRR 40.2% (pre-tax)

Cacata Project Capex

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Description Cost US$ (Million)	Description Cost US$ (Million)
Mining	9.5
Processing Plant	54.8
TSF	6.8
Product Storage & Transport (Land)	22.5
Product Storage & Loading (Sea)	57.5
Owners Costs	6.0
Total	157.0

Cacata Project Opex

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Description Cost US$/t Phos Rock	Description Cost US$/t Phos Rock
Mining	5.72
Processing Plant	25.12
TSF	0.50
Product Transport (Land)	13.63
Product Loading (Sea)	3.25
General and Administration	9.00
Total	57.23

Kanzi Project, Western DRC

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Kanzi Project

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• Project Status: Infill drilling and BFS to commence August 2012, metallurgical testwork underway

• JORC Resource: 66Mt total @ 15.3 % P2O5 including 44Mt @ 21.4 % P2O5.

• Mining: Free Dig, no drill and blast strip ratio 4:1 .

• Beneficiation: Upgrades to +34% P2O5 (Phos rock) @ 60 - 70% recovery (Zellers and Williams UNDP 1981).

• Product Logistics: 35km haul on a sealed road to existing Boma port .

• Upside Potential: Significant upside at Kanzi; Fundu Nzobe deposit - historical exploration estimated resource of 70Mt @ 15% P2O5 including 14Mt @ 19.5% P2O5 (UNDP 1981) .

Infrastructure

• Projects located close to infrastructure and ocean

• 5km from a highway (upgraded roads)

• 50 km from ocean

• Excellent services and accommodation

• 35MW power station being built in Cabinda

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Cacongo Wharf
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Port of Boma

• Established oil production region

• Infrastructure in place will keep capital and operating costs to a minimum

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Power Station Cabinda
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Regional Roads
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Potash, Angola

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Drill Rig, Angola

• Minbos to acquire 75% of Dinge potash licence

• Large proportion of the licence area underlies the Cabinda phosphate mineralisation

• Potential to add future revenue stream once phosphate operations established

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Board and Management

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~~~~ ~~Xx~~	Board Members	Discription
	Peter Richards Executive Chairman	 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.
	Robert McCrae Chief Executive Officer	 Robbie 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.
	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.
	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 Director	 John has over 20 years experience in the mining industry, combining extensive mining engineering and operational experience with investment banking and stockbroking.  John is currently a partner with Everspring Partners.

Peer Analysis

Ticker	Ticker	Company	Market Cap (A$M)	Market Cap/t resources (A$M/t)	Resource Tonnes (Mt) (equity adjusted)	Resource Grade (% P2O5)
MBC CN		MBAC FERTILIZER CORP	276.7	3.14	88.0	4.88
GQ CN		GREAT QUEST METALS LTD	46.6	1.52	30.7	23.40
KRB AU		KRUCIBLE METALS LTD	6.6	0.34	19.3	19.00
POZ AU		PHOSPHATE AUSTRALIA LTD	8.6	0.15	56.0	16.00
ST CN		STONEGATE AGRICOM LTD	66.0	0.15	446.2	10.52
MNB AU		MINBOS RESOURCES LTD	18.8	0.13	144.2	13.31
DAN CN		D'ARIANNE RESOURCES INC	56.5	0.12	462.0	6.25
PCP CN		PLAINS CREEK PHOSPHATE CORP	9.3	0.07	128.0	29.82
LGDI US		LEGEND INTERNATIONAL HOLDING	18.9	0.04	516.1	15.10
UCL AU		UCL RESOURCES LTD	19.1	0.02	779.9	19.06
MAK AU		MINEMAKERS LTD	33.9	0.02	1,561.9	18.69
	0.01 0.10 1.00 10.00 MBC CN ST CN DAN CN GQ CN MAK AU UCL AU LGDI US MNB AU PCP CN POZ AU KRB AU Market Cap/t Resources (A$/t) (log) Market Cap A$M Mkt Cap/t resources
- 50.0 100.0 150.0 200.0 250.0 300.0 Market Capitalisation (A$M)

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Compelling Investment Proposition

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Phosphate Rock

• Multiple projects with clear near-term development path

• Well located with established infrastructure in place

• Low OPEX, high grade resources resulting in excellent economics when compared to other projects globally

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• Experienced and credible board and management

• Trading at a significant discount to peers

• Strong demand for phosphate, linked to the increasing in demand for agriculture and food

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THANK YOU !