VMS Ventures - Investor Presentation - September 2010

VMS:TSX.V

A new beginning…at last!

September 26 to 29, 2010

Discovering High Grade Copper Deposits in Manitoba, Canada

FORWARD-LOOKING STATEMENTS

NOTE:

Some of the statements contained herein may be forward-looking

statements which involve known and unknown risks and uncertainties.

Without limitation, statements regarding potential mineralization and

resources, exploration results, and future plans and objectives of the

Company are forward-looking statements that involve various risks. The

following are important factors that could cause the Company’s actual

results to differ materially from those expressed or implied by such

forward-looking statements: changes in the world wide price of mineral

commodities, general market conditions, risks inherent in mineral

exploration, risks associated with development, construction and mining

operations, the uncertainty of future profitability and the uncertainty of

access to additional capital. There can be no assurance that forward-looking

statements will prove to be accurate as actual results and future

events may differ materially from those anticipated in such statements.

VMS Ventures Inc. undertakes no obligation to update such forward-looking

statements if circumstances or management’s estimates or opinions

should change. The reader is cautioned not to place undue reliance on

such forward-looking statements.

Introduction to VMS Ventures Inc. Flin Flon – Snow Lake Belt - a World Class VMS

Camp• Our First Discovery – The Reed Lake Deposit

• HudBay Minerals JV and 4 Option Agreements• Phase 1 drill program at Reed Lake• Additional targets…next 2 years

Sails Lake Project – drilling in October 2010 – 2011 Work Plan North American Nickel – 45% VMS ownership

Discovering High Grade Copper Deposits in Manitoba, Canada

VMS VENTURES INC.

CAPITAL STRUCTURE(as at September 25, 2010)

Issued & Outstanding: 114,417,955Options: 11,178,800Fully Diluted: 125,596,755

Well funded junior with approximately $11 M in the treasury.

Discovered the Cu-rich Reed Lake Deposit in Manitoba in 2007.

• JV Partner HudBay Minerals (T.HBM) is project operator and financiers of Reed Lake development. Project ownership is 70% HBM & 30% VMS.

2010 Reed Lake Budget $3 Million, 7,000 metre drill Program now underway.

Large, highly prospective land package in the prolific Flin Flon – Snow Lake Greenstone Belt of Manitoba.

4 Properties slated for drilling in 2010-2011.

QUICK FACTS

Introduction to VMS Ventures Inc. Flin Flon – Snow Lake Belt - a World Class VMS

Camp• Our First Discovery – The Reed Lake Deposit

• HudBay Minerals JV and 4 Option Agreements• Phase 1 drill program at Reed Lake• Additional targets…next 2 years

Sails Lake Project – drilling in October 2010 – 2011 Work Plan North American Nickel – 45% VMS ownership

Discovering High Grade Copper Deposits in Manitoba, Canada

FLIN FLON GREENSTONE BELT

• Largest Proterozoic VMS District in the world.

• Most prolific greenstone belt in Canada in terms of $ value of production/km2.

• Continuous production for past 80 years

• 183 million tonnes from 27 mines.

• VMS mines/deposits rich in copper, zinc, gold and silver.

• Deposits typically occur in clusters.

• Gold mines/deposits throughout belt.

MAP AREA

A WORLD CLASS VMS CAMP

SNOW LAKE BELTSNOW LAKE BELT

Lalor Lake(Hudbay)

Lalor Lake(Hudbay)

Reed Lake(VMS Ventures Inc.)

Reed Lake(VMS Ventures Inc.)

DISCOVERY PROGRESSION

• Early discoveries were made by prospecting.

• Recent discoveries made through a combination of geological and geophysical work.

• In addition to geology and geophysics VMS also employs cutting edge Mobile Metal Ion (MMI) geo-chemistry, which is particularly useful in the search for deposits beneath Phanerozoic cover.

After K. Gilmore (Hudbay Minerals), 2009

VMS LAND POSITION IN THE SNOW LAKE AREA

DOMINANT LAND POSITION

• More than 108,000 hectares of ground.

RIGHT GEOLOGY• Focused on

juvenile arc rocks (shown here in medium green), juvenile arc rocks host all the mined VMS deposits in the Flin Flon – Snow Lake camp.

VTEM COVERAGE OVERVMS VENTURES’ PROJECTS

• Many recent discoveries, including VMS’s Reed Lake Deposit, were made with VTEM

• VMS Ventures has flown over 13,000 line-km of VTEM over its projects, majority flown at 100 m line spacing.

• 3 years and $3 million in work – ready to drill.

Introduction to VMS Ventures Inc. Flin Flon – Snow Lake Belt - a World Class VMS

Camp• Our First Discovery – The Reed Lake Deposit

• HudBay Minerals JV and 4 Option Agreements• Phase 1 drill program at Reed Lake• Additional targets…next 2 years

Sails Lake Project – drilling in October 2010 – 2011 Work Plan North American Nickel – 45% VMS ownership

Discovering High Grade Copper Deposits in Manitoba, Canada

REED LAKE DISCOVERY

• Discovery hole by VMS Ventures Inc. RD-07-07 October 4, 2007:

43.05 m @ 4.38% Cu 1.56% Zn 0.85 g/t Au 13.09 g/t Ag

• 72 holes drilled from July, 2007 to September, 2008.

High Grade Cu Intercepts

RD-08-53: 61.96 m @ 5.96% Cu

RD-08-61: 100.19 m @ 3.59% Cu

RD-08-41: 33.46 m @ 10.36% Cu Incl. 28.08 m @ 13.03% Cu

Incl. 5.00 m @ 16.30% Cu

History

RD-08-36: 81.07 m @ 3.54% Cu

VMS VENTURES – HUDBAY JV & OPTIONS PROJECTS

VMS-Hudbay JV

• 30-70 joint venture, VMS carried to production.

• Hudbay is operator.

4 Option Agreements• Hudbay is operator.• $2.6 M in cumulative

expenditures to earn 70%.• Upon discovery VMS is

carried on first $50 million of expenditures.

• Cumulative $2.8 M paid to VMS in July, 2010.

AERIAL VIEW OF THE REED LAKE DEPOSIT

Provincial Road # 39

Tower Zone Option

Reed Lake Joint Venture

Snow Lake 75 kmReed Lake Deposit(projected to surface)

Flin Flon 115 km

REED LAKE DEPOSITGEOLOGY PLAN MAP

Rhyolite flowsRhyolite tuff

Basalt flows

QFP

A lens (Cu-rich)A

B

C

B lens (breccia)

C lens (Zn-rich)

REED LAKE DEPOSIT IN PLAN AND SECTION

Plan

LongitudinalSection(looking 225°)

Cross SectionSection(Looking 315°)

100 m 100 m

Cross

Sec

tion L

ine

Long Section Line

A-lens

B-lens

C-lens

100 m

N

Credit: HBED September, 2010

HUDBAY PHASE 1 PLAN

N

Purpose:• Confirm / refine current model.• Produce NI 43-101 compliant

resource calculation.• Follow mineralization to depth.

Proposed Phase 1 Program:

Plan

CompositeCross SectionSection(Looking 315°)

100 m

100 mCredit: HBED September, 2010

• Drill 20 to 24 holes totaling 7 km on six section lines 50 m apart.

• Down hole 3-component EM surveys.

• Commence with one drill, ramp up to two drills once deposit geometry is confirmed. Possibly add a third drill to resurvey and cement previously drilled holes if required.

MORE MINERALIZATION AT REED LAKE??

• Reed Lake Deposit produces strong, coincident VTEM EM and magnetic anomalies.

• Magnetic data suggest the deposit plunges northwest.

• VTEM EM anomalies do not follow magnetic anomaly along the interpreted plunge line, however; this is to be expected as steeply plunging mineralization would quickly exceed the vertical detection limit (~300 m) of the VTEM system.

• Reed Lake Deposit produces strong, coincident VTEM EM and magnetic anomalies.

• Magnetic data suggest the deposit plunges northwest.

• VTEM EM anomalies do not follow magnetic anomaly along the interpreted plunge line, however; this is to be expected as steeply plunging mineralization would quickly exceed the vertical detection limit (~300 m) of the VTEM system.

REED LAKEJOINT

VENTUREREED LAKE

PROJECT

NORTHWESTZONE

OPTION

SUPER ZONEOPTION

NORTHEASTZONE OPTION

TOWER ZONEOPTION

REED LAKE DEPOSITREED LAKE DEPOSIT

Plunge ?Lens C

Lens ALens A

ORE BODIES TEND TO GROW IN THE FLIN FLON BELT

After K. Gilmore (Hudbay Minerals), 2007

MANY TARGETS READY TO DRILL ON THE JV AND OPTION PROJECTS

• In addition to locating the Reed Lake Deposit VTEM was successful in detecting all other known sulphide deposits in the area.

• Many high priority VTEM anomalies remain to be tested. Two of these are scheduled for drilling in the current phase 1 drill program.

• In addition to locating the Reed Lake Deposit VTEM was successful in detecting all other known sulphide deposits in the area.

• Many high priority VTEM anomalies remain to be tested. Two of these are scheduled for drilling in the current phase 1 drill program.

REED LAKEJOINT

VENTUREREED LAKE

PROJECT

NORTHWESTZONE

OPTION

SUPER ZONEOPTION

NORTHEASTZONE OPTION

TOWER ZONEOPTION

REED LAKE DEPOSITREED LAKE DEPOSIT TOWER ZONETOWER ZONE

HIGHWAY ZONEHIGHWAY ZONE

Introduction to VMS Ventures Inc. Flin Flon – Snow Lake Belt - a World Class VMS

Camp• Our First Discovery – The Reed Lake Deposit

• HudBay Minerals JV and 4 Option Agreements• Phase 1 drill program at Reed Lake• Additional targets…next 2 years

Sails Lake Project – drilling in October 2010 – 2011 Work Plan North American Nickel – 45% VMS ownership

Discovering High Grade Copper Deposits in Manitoba, Canada

SAILS LAKE: DRILLING IN OCTOBER / 2010

SAILS LAKESAILS LAKE

• 25 km east of Snow Lake.

• Previously believed to be underlain by less prospective ocean floor rocks.

• Recent mapping and litho-geochemical sampling by VMS showed that it is in fact underlain by prospective juvenile arc rocks.

25 kmProject Background

SAILS LAKE DRILL TARGETING

KUS-85: 1.12 m msv sulphide @ 0.12% Cu, 3.50% Znincl. 0.55m @ 0.20% Cu, 7.20% Zn, 10.54 g/t Ag and 0.34 g/t Au

KUS-85: 1.12 m msv sulphide @ 0.12% Cu, 3.50% Znincl. 0.55m @ 0.20% Cu, 7.20% Zn, 10.54 g/t Ag and 0.34 g/t Au

DG96-002:0.31 m @ 9.75 g/t Au0.56 m @ 2,75 g/t Au

DG96-002:0.31 m @ 9.75 g/t Au0.56 m @ 2,75 g/t Au

16.32 g/t Au (grab)16.32 g/t Au (grab)

62.29 g/t Au (grab)62.29 g/t Au (grab)

DG96-006:0.30 m @ 9.14 g/t Au0.44 m @ 2.19 g/t Au

DG96-006:0.30 m @ 9.14 g/t Au0.44 m @ 2.19 g/t Au

DIAMOND DRILLING

Introduction to VMS Ventures Inc. Flin Flon – Snow Lake Belt - a World Class VMS

Camp• Our First Discovery – The Reed Lake Deposit

• HudBay Minerals JV and 4 Option Agreements• Phase 1 drill program at Reed Lake• Additional targets…next 2 years

Sails Lake Project – drilling in October 2010 – 2011 Work Plan North American Nickel – 45% VMS ownership

Discovering High Grade Copper Deposits in Manitoba, Canada

2010-2012 WORK PLANQ3 Q4

Reed Lake ProjectDrillingDrill ResultsMetallurgical StudiesGeotechnical StudiesResource EstimateDelineation DrillingPrefeasibility Study WorkSails Lake ProjectGeophysics Drill Permitting Target Selection Drilling Drill ResultsProject EvaluationCopper ProjectGeophysics Target SelectionDrillingDrill Results Project EvaluationMorton Lake ProjectGeophysics Target SelectionDrillingDrill ResultsProject EvaluationLeak Lake ProjectGeophysics Target SelectionDrillingDrill ResultsProject EvaluationMcClarty Lake ProjectGeophysics Target SelectionDrillingDrill ResultsProject EvaluationPuella Bay ProjectGeophysics Target SelectionDrillingDrill ResultsGeochemical SurveysProject Evaluation

Q42011 2012

Q1 Q2 Q4 Q1Q3 Q22010

Q3

Introduction to VMS Ventures Inc. Flin Flon – Snow Lake Belt - a World Class VMS

Camp• Our First Discovery – The Reed Lake Deposit

• HudBay Minerals JV and 4 Option Agreements• Phase 1 drill program at Reed Lake• Additional targets…next 2 years

Sails Lake Project – drilling in October 2010 – 2011 Work Plan North American Nickel – 45% VMS ownership

Discovering High Grade Copper Deposits in Manitoba, Canada

NORTH AMERICAN NICKELVMS owns ~45% of North American Nickel.

Dr. Mark Fedikow, President and COO.

TSX Venture application pending.

Projects situated in Thompson and Sudbury, the two most productive mining camps in the world class Circum-Superior Nickel Belt.

OTCBB: WSCRF

SUDBURY PROJECTS

Sudbury projects are focused on highly prospective offset dykes.

Whistle Offset at FNX’sPodolsky Mine

MANITOBA PROJECTS

VMS VENTURES INC.

CAPITAL STRUCTURE(as at September 12, 2010)

Issued & Outstanding: 114,417,955Options: 11,178,800Fully Diluted: 125,596,755

Well funded junior with approximately $11.0M in the treasury.

Discovered the Cu-rich Reed Lake Deposit in Manitoba in 2007.

• JV Partner HudBay Minerals (T.HBM) is project operator and financiers of Reed Lake development. Project ownership is 70% HBM & 30% VMS.

2010 Reed Lake Budget $3 Million, 7,000 metre drill Program now underway.

Large, highly prospective land package in the prolific Flin Flon – Snow Lake Greenstone Belt of Manitoba.

4 Properties slated for drilling in 2010-2011.

QUICK FACTS