VERITY RESOURCES LIMITED — Investor Presentation 2011

Apr 13, 2011

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

Market Cap

Cash

DATE: 14 APRIL 2011

DRILLING RECOMMENCES AT AIRSTRIP COPPER, DIBETE AND MAIBELE NORTH

Issued Capital

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71,858,502 listed options at 10c
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The Board of BML wishes to advise that an aggressive drilling program has commenced at the three Cu – Ag + Ni discoveries in Botswana, known as:

Unlisted Options

• Airstrip Copper,

• Dibete and

• Maibele North.

Substantial shareholders

Two Reverse Circulation drill rigs have commenced drilling.

BML has budgeted for exploration expenditure of up to $4M, which is expected to be deployed to December 2011.

Directors

The market will be updated on the progress of the drilling as results come to hand.

Following is the latest Investor Presentation on Botswana Metals Limited (“BML”).

Registered Office

Pat Volpe

Chairman

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P +61 3 9830 7676
F +61 3 9836 3056
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Contact

Media Relations

BOTSWANA METALS LIMITED ACN 122 995 073

Australian Stock Exchange (ASX) CODE: BML

Investor Presentation

• Botswana – attractive mining investment ~~location – experienced team~~

• Blue chip exploration ground – 50 km northeast and 80 km southeast of two major producing mines

• Two recent significant Cu – Ag discoveries within 7kms of each other

• Potential to upgrade Maibele North Ni-Cu-PGE project to JORC compliant mineralisation, and other VTEM targets identified

• Drilling commenced (April) on two discovery areas

• Current market capitalisation $15m with $4.5M cash

• Major Cu discoveries also in Botswana (Discovery Metals and Hanna) MOD (ASX code) entering Botswana for Cu exploration

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Disclaimer

This presentation has been prepared by Botswana Metals Limited (“BML”). The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of BML, its directors, employees or agents, not any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. No representation is made that, in relation to the tenements the subject of this presentation, BML has now or will at any time in the future develop further resources or reserves within the meaning of the Australian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves (The JORC Code).

Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. You should have consideration to the risks involved in investment in BML some of which are detailed in BML’s prospectus dated 26[th] October 2007 as lodged with the Australian Securities and Investment Commission and available from either Australian Stock Exchange Limited or BML on request.

By accepting this presentation, the recipient represents and warrants that it is a person to whom this presentation may be delivered or distributed without a violation of the laws of any jurisdiction. This presentation is not to be disclosed to any other person or used for any other purpose and any other person who receives this presentation should not rely or act upon it. Information contained in this presentation is confidential information and the property of BML. It is made available strictly for the purposes referred to above. The presentation and any further confidential information made available to any recipient must be held in complete confidence and documents containing such information may not be reproduced, used or disclosed with the prior written consent of BML. This presentation must not be disclosed, copied, published, reproduced or distributed in whole or in part at any time without the prior written consent of BML and by accepting the delivery or making to it of this presentation, the recipient agrees not to do so and to return any written copy of this presentation to BML at the request of BML.

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Corporate Details

BML Board	Market Details
Pat Volpe Executive Chairman	Free Trading Shares	143.7M
Paul Woolrich	Options	71.9M
Non-Executive Director	Unlisted Options	2.77M
Massimo Cellante Non-Executive Director	Market Cap	$15M
Management	Top 20 Shareholders	50%
Richard Baker	Cash at Bank	$4.5M
Company Secretary
	Debt	Nil
Peter Temby
Consulting Geologist	ASX Stock Code	BML
Derek Halford Manager Exploration Botswana	ASX Option Code	BMLO

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Introduction

1. Growing Global Demand For Base Metals Including Cu, Ni and Ag.

2. The Best Mining Address in Africa:- BOTSWANA

3. In good company: Recent discoveries by Discovery Metals, Hanna Mining and a recent exploration entrant (MOD) supported by major Australian investment and mining identities.

4. Blue chip address with 3000km of exploration ground covering two major geological belts (Limpopo Belt and Zimbabwe craton)

5. 80km from the Tati Ni mine and 50km from the Selebi Phikwe mine and smelter.

6. Experienced team with track record.

7. Aggressive exploration program (up to $4 million) commenced in April 2011 on the two new discoveries, and Maibele North and other high ranking targets.

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Botswana – The Country

 Government supportive of mining industry.

• Non corrupt.

• Politically and economically stable.

• Excellent infrastructure.

• Major Gold, Copper, Nickel, Coal and Uranium discoveries made over the last 10 years.

• Local workforce with over 40 years of mining skills.

• BML management team has extensive local knowledge.

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Exploration Focus

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Discovery ZIMBABWE
Metals
MAUN
NATA
Hanna
Mining
TATI Ni MINE
FRANCISTOWN
MOD
ORAPA
GANZI
SELEBI PHIKWE Ni MINE
BOTSWANA
NAMIBIA
BML Cu-Ag +
Ni Prospects
GABORONE
SOUTH AFRICA
200km
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BML: Exploration PL Portfolio ~ 3,000 sq km

Current BML tenements including those for which extensions have been requested.

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BML: VTEM Anomalies

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Maibele North Ni-Cu-PGE
Airstrip Cu-Ag
Mmatsiane Cu-Zn
Dibete Cu-Ag
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VTEM anomalies (red) in the Magogaphate area.

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Exploration and Discovery

Two new discoveries and a previous discovery with potential to become economic deposits:

1. At DIBETE:

• Supergene Cu-Ag mineralisation discovered over a large area (up to 1.8 %Cu and 119 g/t Ag over 38 metres).

• Primary Cu-Ag targets (VTEM anomalies) over a 3.5km strike require testing.

2. At AIRSTRIP COPPER:

• Up to 60.98 % Cu and up to 2833 g/t Ag over one conductive primary zone.

• At least 16 conductors identified over the 1km x 1.5 km IP grid.

• Additional conductors extended outside the IP grid.

• Potential for supergene Cu-Ag (trenching identified visible malachite).

3. At MAIBELE NORTH:

• New drilling to test VTEM anomalies and to potentitally upgrade Maibele North Ni-Cu-PGE Prospect to a JORC compliant resource.

OTHER TOP RANK TARGETS:

 Mmatsiane Cu-Pb-Zn, and

• Sampowane Ni.

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Dibete Discovery

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Regional location

Soil anomalies and tenements

Main soil anomaly and supergene copper-silver target

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Dibete Discovery

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Supergene Copper

A supergene blanket of copper silver mineralisation of up to 38 metres thick is present. Grades of up to 1.72% Cu and 119g/t Ag over a 38 metre intersection are . present

Interpreted supergene Cu-Ag mineralised zone is shown as brown overlay.

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Airstrip Copper Discovery

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Airstrip Cu-Ag Conductors Part of the IP Survey area at Airstrip Cu showing interpreted conductors in pink. Conductors are targets for primary high grade Cu-Ag mineralization.

• At least conductors with a total strike of 1,900 metres in the IP grid area

• • Only one conductor extensively drilled and other barely of not yet drilled

Additional conductors extend outside the 1km x 1.5km IP grid.

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Airstrip Copper Discovery

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Primary Cu-Ag

Detailed drilling on one conductor only out of 16 conductors identified within the 1.0 x 1.5 km grid encountered high grade primary Cu-Ag mineralisation with up to 60% Cu and 2883 g/t Ag. Conductors extend outside the currently surveyed grid

Supergene Cu-Ag Potential for a supergene copper deposit at Airstrip Copper. Malachite was found over significant widths in trenches.

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Maibele North - Ni

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Drilling Study- long section looking north The Maibele North mineralisation has been drilled however more drilling is required to bring the mineralisation to potential JORC compliance.

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Maibele North - Ni

Infill Drilling Targets

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Geostatistical Study- tilted long section looking north. The Maibele North mineralisation was studied geostatistically to determine whether it could be classified by JORC categories and to determine what was required to raise the status to indicated or better. Target zones indicate areas where closer drilling will improve confidence in the resource.

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BML Management Team And Exploration Team

BML Management Team - We Know Botswana:

• One of the most experienced teams in Botswana

• Two significant Cu-Ag mineral discoveries made recently by Botswana Metals Limited.

• Success in Botswana includes: discovery of A-Cap Letlhakane Uranium deposit.

Board and Management Team

• Mineral exploration experience.

• Metallurgy experience.

• Project development experience .

• Botswana operating and administrative experience.

• Capital raising and equity market experience.

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Summary

• Botswana has low political risk and excellent infrastructure in place and several established major mines.

• Recent significant Cu-Ag discoveries by other companies in Botswana.

• BML management that understands the country and the geology.

• BML potential to develop new discoveries into economic resources:

• Two new discoveries are within 7 km of each other;

• Airstrip Copper and Dibete both have significant potential for supergene Cu-Ag mineralisation and high grade primary Cu-Ag mineralisation

• Maibele North Ni-Cu-PGE has potential to increase in scale and become JORC compliant resource

 Other high ranked targets identified

 Aggressive ($4 million) exploration program commenced

 BML Current Market Cap $15m:

Current market cap of companies with Cu-Ag resources in Botswana:

• Discovery Metals Limited $550m

• Hanna Mining $300m

• ASX code MOD $100m: recent exploration entrant into Botswana for Cu.