APOLLO MINERALS

7th Mining South Australia Conference, 27 November 2013

Developing high potential iron ore and

base metals projects.

Disclaimer

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This presentation has been prepared by Apollo Minerals Limited (“Apollo” or the “Company”). It should not be considered as

an offer or invitation to subscribe for, or purchase any, securities in the Company or as an inducement to make an offer or

invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on

the basis of this presentation.

This presentation contains forecasts, projections and forward-looking information. Such forecasts, projections and information

are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of Apollo’s

control. Actual results and developments will almost certainly differ materially from those expressed or implied. Apollo has

not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this

presentation. To the maximum extent permitted by applicable laws, Apollo makes no representation and can give no

assurance, guarantee or warranty, expressed or implied, as to, and takes no responsibility and assumes no liability for:

the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement

or opinion contained in this presentation, and

without prejudice to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other

forward-looking information contained or referred to in this presentation.

Throughout this presentation all figures are quoted in A$ dollars unless otherwise stated. You should not act in reliance on

this presentation material. This overview of the Company does not purport to be all inclusive or to contain all information

which its recipients may require in order to make an informed assessment of Apollo’s prospects. You should conduct your

own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the

information, statements and opinions contained in this presentation before making any investment decision.

Apollo Minerals Developing quality iron ore and base-precious metals projects

in premier locations around the world

Overview

Apollo Minerals Limited (ASX:AON) is a highly professional iron ore,

base and precious metals explorer with projects in South Australia,

Western Australia and Gabon, Africa.

The Company’s primary focus is the development of its Commonwealth

Hill Iron, and Titan Base & Precious Metals projects in the Gawler Craton,

South Australia.

Apollo targets Tier 1 base-precious metals prospects in proven mineral

provinces, in safe and stable jurisdictions. Each prospect must have the

ability to become a world-class discovery. The Company employees

proven, state-of-the-art technologies and leading industry experts in the

pursuit of these deposits and development opportunities.

Board Tony Ho Chairman

Richard Shemesian Executive Director

Dominic Tisdell Chief Operating Officer

Matthew Rimes Non-executive Director

Location Map

Market Capitalisation

Share Information (Nov. 2013)

Listing details - ASX AON

Market capitalisation $8.5m

Cash (30.9.2013) $1.1m

Top 20 shareholders 60%

Contact Details Headquarters Sydney, Australia

Website www.apollominerals.com.au

Phone +61 2 9078 7665

Email info@apollominerals.com.au

Management & Special Advisors

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Dominic Tisdell

Chief Operating Officer

BE (Mining), MBA

17 years’ experience in mine planning and operations, management consulting,

M&A, and senior management with Rio Tinto, Accenture and Mitsubishi Corporation.

Prior directorships with Australian Uranium Association and MDP Uranium.

Guy Robertson

Chief Financial Officer

BCom (Hons), CA

30 years’ experience as a Director, CFO and Company Secretary of both ASX

listed and private companies in Australia and Hong Kong. Experienced in corporate

aggregation, IPO, capital raising and acquisition due diligence. Prior roles with

Jardine Lloyd Thompson, Colliers Jardine Asia Pacific and Franklins Ltd.

Derek Pang

Exploration Manager

BAppSc (Geology) (Hons)

18 years’ experience in mineral exploration throughout Australia and Africa. Prior

roles with Blackthorn Resources, NSW Department of Mines, Huntley’s Investment,

Ashton Mining, CRA Exploration and Plutonic Gold.

Chris Anderson

Technical Advisor

BSc (Geology, Geophysics)

(Hons)

Geophysicist with over 35 years’ experience in Australia and abroad. Key player

in the Carrapateena iron-oxide, copper, gold, uranium deposit discovery. Previous

roles with Placer Pacific, Equinox Resources, North Mara Gold Mines. Directorships

with Euro Exploration and Renaissance Uranium.

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Highlights A number of high value-creating opportunies exist in both

Apollo’s iron ore and base-precious metals portfolios 4

Large landholding in world-class Iron-Oxide-Copper-Gold (IOCG) province

Number of quality targets identified with potential for discovery of world-class IOCGs

Limited drilling indicates mineralised systems with best grades exceeding 52% Fe, 0.1%

Cu, 2g/t Au and 4 g/t Ag at Titan Base-Precious Metals Project, South Australia

Copper

Gold

Iron Ore

Active explorer and project developer

Highly experienced iron ore development team (ex-Rio Tinto and Iron Ore Holdings)

Portfolio of projects (South Australia, Gabon and Western Australia)

Minimal offsite capital required

Asian commodity trader and end user interest including investment by Jindal Steel & Power

Able to produce high quality products:

Circa 60% Fe sinter fines, and up to a

69% Fe pellet feed

Highly scalable – opportunities to start at “Proof of Concept” (circa 500ktpa) level and

scale up to over 5Mtpa sales

Targets identified with the potential to deliver significant DSO-grade deposits

Titan Base-Precious Metals Project, SA

1880s – 1950s: Pre-Olympic Dam exploration and

mining of sediment hosted, quartz-copper sulphide vein

deposits and copper carbonates hosted in leached,

brecciated, carbonate sediments and rhyolitic porphyry

1970s – 1980s: Primitive Olympic Dam Exploration

Model - African Copper Belt-type of sediment hosted

syngeneic copper deposit i.e. basement highs (magnetic

and gravity highs targeting oxidised/altered basalts

believed to be the source of copper mineralisation)

1990s – 2000s: Modern IOCG(±U) exploration –

targeting haematite-rich diatreme (breccia-filled volcanic

pipe that was formed by a gaseous explosion)

representative gravity highs, ideally offset from magnetic

highs, in proximity to Proterozoic Gawler Range Volcanics

and within 100km of the Craton margin

Now: Post-modern IOCG(±U) exploration – targeting

iron-oxide-rich, structurally controlled gravity highs,

ideally with a co-incident electromagnetic response in

proximity to primitive mafic rock units and Proterozoic

(1595Ma) Gawler Range Volcanics. Not unusual to be

100Mt – 500Mt @ 1% Cu.

Gawler Craton copper belt Gawler Craton IOCG province is highly prized by the majors with

most either already actively exploring and/or seeking projects

Exploration by Majors (note: farm-in JV partner tenements shown on occasion)

Teck

Vale OZ Minerals

FMG

Apollo

Minerals

BHP

Billiton

GlencoreXstrata

Antofagasta

Rio Tinto

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Geoscience

Australia “High

Potential IOCG

Corridor”

Regionally significant surface copper Surface metal enrichment at key targets includes high-

grade iron, gold and copper mineralisation

3D perspective of Titan magnetics and regionally significant copper geochemistry (hotter colours = higher grade)

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Perfection Well GRV rhyolite

Mars / Aurora Tank Up to 52% Fe, 0.05% Cu,

2 g/t Au, and 4 g/t Ag

Acacia East Iron-rich, mafic-felsic intrusives.

Massive sulphides over 0.1% Cu

Ibis Iron-rich, mafic -

felsic intrusives?

Sequoia Iron Deposit Iron-rich, intermediate - felsic

gneiss and granites

Probable GRV Monzo-granites and trachyte

GRV Dacites, rhyolites,

monzo granites

Bundi Intermediate – felsic

intrusives & volcanics

Wirrida Mafic – felsic

intrusives & volcanics

Very high surface copper and iron and anomalous gold mineralisation identified within likely large-scale

intrusive/ volcanic complexes

Anomalism believed to be related to metal-rich fluid leakage along sub-vertical dykes associated with

probable Gawler Range Volcanics

Highly prospective deep crustal features Government MT and seismic data for Titan demonstrates ideal

setting for large-scale mineralisation systems as per Olympic Dam 8

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-50km Tarcoola Coober Pedy

MOHO

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Bundi IOCG

Prospect

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Unnamed deep crustal fault associated with Kararan

Orogeny subduction? Large scale extension of lower crust

and offset of MOHO enables direct transfer of

conductive, mantle-mixed, ?metal-rich fluids to surface

Bulgunnia

Fault Zone

Cedric Bore

Fault Zone

Muckanippie

Shear Zone

Titan IOCG Project covers the majority of one of the two mantle derived conductive plumes in the central and

northern Gawler Craton and, the only one associated with a deep crustal extensional zone

Crustal penetrating, and MOHO offsetting structures seen at Titan (unnamed), Musgrave Province (Wintinna Hill Fault)

and Olympic Dam (Elizabeth Creek Fault)

Conductive plumes shown to tap mantle in crustal extensional zones directly below Titan and Olympic Dam

Tunkillia

Suite

N S

Magnetotelluric (MT) survey section showing unusual and important mantle plumbing conductive plume below Bundi IOCG Prospect

Large-scale, primitive, magnetic, mafic intrusive complexes surrounded by large numbers of discrete magnetic

anomalies at both the nearby Prominent Hill IOCG

Primary sulphides including the copper sulphide, chalcopyrite, noted in both intrusive complexes

Emerging evidence of genetic link to Olympic Dam at both Prominent Hill and Titan i.e. circa 1595Ma old geology

Wirrida and surrounds at the Titan IOCG Project effectively undrilled below 50m

Geological similarities to Prominent Hill Large-scale, primitive, magnetic, mafic intrusive complexes and

volcanics at both the nearby Prominent Hill IOCG and Titan Project

Magnetics: Titan Project - Bundi IOCG Prospect & surrounds

White Hill Intrusive Complex Mafic proterozoic intrusives

Peculiar Knob 32.5 Mt @ 63.2% Fe

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Wirrida Intrusive Complex Mafic - felsic proterozoic intrusives & volcanics

Sequoia Iron Deposit ET 100-150 Mt @ 25-35% Fe

Prominent Hill IOCG 283.4 Mt @ 0.89% Cu, 0.81

g/t Au, 2.48 g/t Ag

Magnetics: Prominent Hill IOCG Deposit & surrounds (x-axis mirror)

Bundi +100Mt IOCG Target

Bundi Prospect: Large-scale IOCG target Prominent Hill IOCG Deposit & Apollo’s Bundi IOCG target

share very similar gravitational geometries and tenors 10

Bundi residual gravity image Prominent Hill IOCG: 2.67 residual gravity image (Oxiana 2006)

5mgal residual gravity responses possible at both Prominent Hill and Bundi IOCG Prospect

Bundi IOCG target circa 3-5 times the size of Prominent Hill gravity anomaly

Common 3D inversion modelling suggests largest targets at Bundi could be significantly denser than at Prominent Hill

Basic geometry and relationship to other systems such as the White Hill (Prominent Hill) and Wirrida Intrusive

Complexes are comparable

2KM

Bundi conductive bodies = sulphides? EM anomalies identified potentially representative of haematite

related copper sulphide mineralisation common in high quality IOCGs 11

900Sm BUN001 EM Conductor Plate

125m below surface

Vertical, fault zone related

conductor

Coincident conductive, non-magnetic and dense zone extending beyond 2000m vertically and 1250m along strike

Resistivity Colour

<50 Ohm.m Pink

50 - 100 Ohm.m Red

100 - 250 Ohm.m Orange

250 - 600 Ohm.m Yellow

600 - 1,000 Ohm.m Green

1,000 - 12,500 Ohm.m Blue

Strong electromagnetic conductor

and surrounding moderately

conductive ground consistent with a

large-scale disseminated sulphide

alteration halo around a high-

sulphidation core

Conductive zones correlate

strongly with high density and

geochemically anomalous zones

consistent with a large-scale IOCG

mineralisation system

Small outcrops display strong

haematite alteration and Cu, U3O8

and Ag enrichment

Bundi 3D perspective looking down & east – dense body (grey) and MT, AMT resistivity sections Altered sediment outcrop at Bundi

Mars Aurora Tank Prospect Previously unrecognised, potentially large-scale IOCG system with

indications of remanent volcanics, brecciation and copper anomalism 12

Site 2 – Eastern contact of Mars Prospect: ?Haematitic breccias

Site 1 – Large ironstone outcrop immediately east of gold focused drilling at Mars

Site 3 – ?Volcanics mesa: Hydrothermally altered dacite and porphyritic rhyolite above granite

Shallow drilling: RAB & limited RC: 52% Fe,

2 g/t Au, 4 g/t Ag, 0.05% Cu

Site 1: Ironstone

Site 2: Breccias

Site 3: ?Volcanics

Mars Aurora Tank Prospect Basic geology displays striking similarities to Tasman Resources /

Rio Tinto Vulcan IOCG Prospect and other South Australian IOCGs 13

Mars Site 1: Massive haematite Mars Site 2: Haematite breccia

Vulcan (VUD12):

Haematite breccia

Vulcan (VUD7):

Haematite breccia

Olympic Dam:

Haematite breccia

Prominent Hill:

Mineralisation

Haematite-matrix breccia hosted

disseminated copper and gold

(0.3-10% Cu and/or 0.2-2g/t Au)

Massive chalcocite + haematite

stockwork in dolomite (>15% Cu)

Earthy-haematite altered dolomite

with carbonate and haematite

veinlet hosted gold (3-100g/t Au)

Earthy and steely haematite-

quartz breccia hosted gold

(0.5-10g/t Au)

Emerging evidence of several unusual lithologies common to South Australia IOCGs,

including volcaniclastic sediments, can be seen in outcrop at the Mars Aurora Tank Prospect

These occur in close proximity to limited, shallow historic RAB and RC drilling which returned

up to 52% Fe, 2g/t Au, 4g/t Ag and 0.05% Cu

Commonwealth Hill Iron Project, SA

1st class rail services:

Located at Commonwealth Hill iron ore deposit and prospects

High quality below rail engineering

Above rail service competition

Rolling stock leasing options

New, competitive port and ship loading services at Port Pirie

Basic port operational

Existing connection to rail network

Easily reconfigurable for iron ore exports and expandable

Commonwealth Hill Iron Project Project supported by 1st class, open access infrastructure, unique in

the Australian iron ore industry 15

Conceptual iron ore stockyard configuration at Port Pirie

Existing rail

corridor

Potential ship

loading site

Potential

stockyard site

Gina rail siding at Commonwealth Hill Rankin Dam iron rail siding (IMX Resources)

Port Pirie conceptual iron ore export infrastructure

Situated in Australia’s newest iron ore province - the Northern Gawler Craton, SA

At-surface JORC compliant resources of 72Mt at 26% Fe from the ‘at-surface’

mineralisation of the smallest of five primary targets

Defined Exploration Target of 300 – 550Mt at 25 – 35% Fe plus further major

conceptual targets including substantial haematite only targets

Real DSO potential at Ibis, Mars, Bundi and Wirrida Prospects

Proven, relatively simple processing technologies

Commonwealth Hill Iron Project Prized 1,467km2 tenement portfolio with JORC compliant resource, demonstrated iron ore development and large exploration potential

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National

highway

10km

Demonstrated high quality, high value products

Attractive economics

Lower initial capital cost options available

No need to build ‘Port Apollo’

No need to build ‘Apollo Rail’

Competitive operating costs

Highly scalable with potential long-term

production of over 5Mtpa

Commonwealth Hill Iron Project: 3D perspective of TMI magnetics, leases, targets and infrastructure

Commonwealth Hill

Iron Project

tenements

National

railway

Sequoia Iron

Deposit

Ibis Prospect

Wirrida

Prospect

Mars Prospect

Bundi

Prospect

72Mt JORC-code compliant mineral resource @ 26% Fe

Defined Exploration Target of 100 – 150Mt grading 25 – 35% Fe

Metallurgical testwork demonstrates ability to produce:

circa 60% haematite sinter fines from oxidised near-surface

material, and

high quality magnetite grading circa 69% Fe

Sequoia Iron Deposit Coarse grained, meta-banded iron formation deposit producing

exceptionally clean and coarse concentrates 17

Sequoia SEDD001 diamond core hole: Core tray photos circa 76m – 92m

Sequoia Iron-Oxide Deposit: 3D perspective of TMI magnetics

Simple processing and infrastructure paths identified and assessed

Mineable inventory of 131Mt Run of Mine (ROM)

Initial strip ratio of 0.5:1, LOM 1.1:1 (tonnes of waste per ROM tonne)

Open cut mine life of approximately 17 years at 2.5Mtpa sales

Sales of 42Mt at 68.8% Fe at an exceptionally coarse sizing of

approximately P80 150µm

Long-term FOB cash cost of US$64/t, (dry, 62% Fe, Pilbara FOBeq basis)

Sequoia Iron Deposit Positive Scoping Study results suggest long-life mine and

robust economics 18

Direct start-up capital expenditure of US$333M,

including studies

Strong potential identified to scale the operations up to

over a 5Mtpa sales rate for more than 20 years via the

processing of iron ore from the Ibis Prospect

Opportunities identified to further reduce the unit

capital and operating costs during the Pre-Feasibility

Study stage:

Potential operating cost reductions of $5 – 15/t product

Potential unit capital cost reductions of $30 – 40/t annual

capacity

DTR Concentrate Grades

Company Project Grind

Size

Fe SiO2 Al2O3 P S

P80 µm % % % % %

Apollo

Minerals

Commonwealth

Hill

143 69.4 2.3 0.4 0.01 0.01

Gindalbie Karara 35 68.8 4.2 0.1 0.1 0.01

Equatorial

Resources

Mayoko 63 68.9 3.7 0.1 0.01 0.01

Xstrata Mauritania 80 70.2 1.8 0.22 n/a n/a

African Iron Mayoko 59-65 69.4 3.1 0.2 0.03 0.01

Bellzone Kalia 65 68.7 3.9 0.1 0.3 0.01

Xstrata Zanaga 65 66.1 4.5 0.2 n/a n/a

Peer project product quality comparison

Sequoia final pit and mineable inventory

Ibis Prospects Large-scale, potential DSO iron ore targets

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2 Km

Near-miss 50m RAB holes: 35% Fe

Ibis Prospect: North looking 3D perspective of TMI RTP magnetics

Very strong indications of shallow, large-scale, structurally controlled, iron-rich bodies similar in style to the nearby

Cairn Hill DSO iron ore mine in South Australia but much larger

Combined analysis of shallow, historic ‘near-miss’ drilling, geophysics and surface sampling

suggestive of higher grade iron mineralisation

Southern zone responses consistent with significant haematite alteration

Targets remain untested but are very close to being ‘drill ready’

Magnetics and

gravity suggestive

of high grade iron

Gravity suggestive

of high grade iron

Kango North Iron Project, Gabon

Gabon, central-west coast Africa

Remains one of Africa’s most politically stable and economically developed countries

Currently transitioning from oil and gas focused foreign investment to mineral resources

Successful history of mining and exporting manganese (3.5Mtpa)

Kango North Iron Project

Granted ~400km2 iron ore and gold Exploration Licence in coastal Gabon

Apollo maintains a 70% controlling JV interest in the Project

Iron ore occurrences exist over at least a cumulative 20km strike

Defined Exploration Target of 200 – 300Mt grading 30 – 45% Fe with further conceptual targets

Potential for significant DSO discovery

Exceptionally good product quality estimated at >69% Fe with very low levels of impurities

Unusually high mass recovering of 49% suggests low operating and capital development costs

Kango North Iron Project Highly prospective 225km2 tenement portfolio with demonstrated

iron ore development and significant gold exploration potential 21

1st class location:

85km from Panamax capable, Port Owendo

20km from operational standard-gauge, 10Mtpa Trans-Gabon railway (TGR), or

15km from navigitable Gabon Estuary

Within 20km of two hydroelectric dams (127 MW total)

Sealed road within 30km of site

High-use unsealed road adjoining south-eastern edge of tenement

Kango North Apollo Mineral

AMAG survey has identified two large-scale, prospective zones (South-East

Domain and North-West Domain)

Sub-cropping iron ore mineralisation discovered over an 8km strike length in the

South-East Domain

Surface samples collected average over 40% Fe

Vast majority of ground remains unexplored

Operating cost implications superior to other magnetite projects globally

Kango North Iron Project Excellent initial exploration results in this vastly under-explored

and emerging world-class iron ore province 22

3D perspective of interpreted magnetic bodies and drilling result for Mount Oscar Main

* This is conceptual in nature.

It is uncertain if exploration will result in the delineation of a mineral resource.

Kango North

World’s largest Fe

Resources at +40Bt

and over 60% Fe

Early indications of exceptional product qualities

DTR testing carried out by AMDEL, Adelaide on samples of surface and near-surface BIF

Very high quality iron ore concentrate produced with a

very high mass recovery (49%) and coarse grind size

(75µm)

Potential to produce DRI-grade concentrates or

quality sinter fines products

Head DTR Concentrate Grades

Fe Mass

Recovery

Fe SiO2 Al2O3 P LOI

% % % % % % %

41.1 49.2 69.7 0.9 0.3 0.004 -2.0

IMC lodged US$190M takeover offer for

Afferro Mining 22 May 2013

Nkout iron ore development likely to cost

several billion dollars and require

commitments from 3rd party users

Apollo’s Kango North iron ore project

very unlikely to require significant

commitments from 3rd parties and could

be a fraction of Nkout’s cost

Kango North Iron Project Potential to become similarly attractive as Afferro

Mining’s Nkout Project, Cameroon 23

* This is conceptual in nature.

It is uncertain if exploration will result in the delineation of a mineral resource.

Apollo Minerals

Apollo Minerals: Kango North Afferro Mining: Nkout

Concessions 400km2 981km2

Mineralisation Magnetite, quartzite. DSO cap? Magnetite, quartzite. DSO cap

Anomalies & Resources 20km strike. Stg 1 Exploration Target: 300Mt 20km strike. 2.5Bt at 34% Fe

Power 20km from operational +100MW hydropower 200km from under construction +100MW hydropower

Rail Operational. 60km to port Needs to be build. 330km to port

Port Expansion of Port Owendo or barging options Deep-water port at Mamelles needs to be built

3rd Party Commitments Little to none required Major commitments required for funding of infrastructure

APOLLO MINERALS

Contact: (02) 9078 7665; info@apollominerals.com.au

Developing high potential iron ore and

base metals projects.