Presentation

July 2013

Reward Minerals Limited F

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Forward Looking Statements & Disclaimer

This document includes forward-looking statements. When used in this document, the words such as “could”,

“plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should”, and similar expressions are forward-looking

statements. Although RWD believes that the expectations reflected in these forward-looking statements are

reasonable, such statements involve risks and uncertainties, and no assurance can be given that actual results

will be consistent with these forward-looking statements.

This Presentation has been prepared by Reward Minerals Ltd (“RWD”) for the purpose of providing an overview

of its current prospects and development strategy to recipients. This Presentation and its contents are provided

to recipients in confidence on the basis that it may not be reproduced or disclosed in whole or in part to any

other person, without the written consent of RWD.

This Presentation is provided on the basis that neither the Company nor its respective officers, shareholders,

related bodies corporate, partners, affiliates, employees, representatives and advisers, make any representation

or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material

contained in this Presentation and nothing contained in the Presentation is, or may be relied upon, as a promise,

representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties

that can be excluded by law.

All persons should consider seeking appropriate professional advice in reviewing the Presentation and all other

information with respect to the Company and evaluating the business, financial performance and operations of

the Company. Neither the provision of the Presentation nor any information contained in the Presentation or

subsequently communicated to any person in connection with the Presentation is, or should be taken as,

constituting the giving of investment advice to any person.

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Investment Highlights

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Small cap company with a single focus – Potash.

Significant Potash resources in surface brine deposits in Australia discovered by the Company.

Resources of 24.4Mt of SOP in Lake Disappointment, WA + 20.5Mt SOP in Lake Mackay, WA – high sulfate brine

sources.

Numerous buried evaporite Potash targets held under tenure in Australia.

Plan to produce 400,000TPA of SOP – a premium product with limited supply – strong market fundamentals –

initially from Lake Disappointment – Global SOP market ca 7.0Mt ($4-5 Billion) per annum. Global MOP market

45Mt ($20+ Billion) per annum.

Low technical risk – Potash production from high sulfate brines uses established technology - Low end of capital

and production cost curves.

Favourable geographic locations provide high evaporation rates/small area requirements per annual tonne output.

Agreement with Traditional Owners in place paving the way for development of the Lake Disappointment SOP

project. Key Mining Leases granted October 2012.

Reward Minerals Ltd now proceeding with site works for resource upgrade and pre-feasibility studies.

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Corporate Information

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Capital Structure 16 July 2013

Name Shares (m) %

Michael Ruane 26.8 36.3

Other Directors 0.25 0.3

Top 20 Shareholders 46.75 63.4

Ordinary Shares on Issue 73.8m

Options on Issue1 12.15m

Share Price A$0.30

Undiluted Market Capitalisation A$22.14m

Debt $1.0m

Cash A$1.3m

Undiluted Enterprise Value A$21.14m

Major Shareholders

1 Issued Options a) 4,500,000 expiring 27 February 2017 - exercise price $0.50

b) 2,150,000 expiring 31 August 2014 - exercise price $0.50

c) 3,000,000 expiring 05 January 2016 - exercise price $0.45

d) 2,000,000 expiring 10 October 2016 - exercise price $0.45

e) 500,000 expiring 08 October 2015 - exercise price $1.09

ASX:RWD

Mr Colin McCavana Non Executive Director, Chairman

31+ years experience in the mining and earthmoving industries

FAICD and Director of Northern Minerals

Dr Michael Ruane Managing Director

PhD (Chemistry) MRACI

30+ years experience as a technical consultant in the chemical and

metallurgical fields

Director of Intermin Resources Ltd, Metaliko Resources Ltd

Mr Rod Della Vedova Non Executive Director

BSc degree in Chemistry and a Post Graduate degree in Chemical

Engineering

Over 30 years experience in the Solar Salt industry

Board

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Project Locations

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Key Project - Lake Disappointment

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Lakebed brine Potash Resource.

Large internal drainage basin – 1200km2.

JORC compliant Indicated Resource of 24.4Mt of

SOP to a depth of 4 metres.

Resource brine grade 0.547% K or 1.22% SOP

(12.2kg/m3 brine).

Chemistry similar to Great Salt Lake – high sulphate

brine.

Ideal Solar evaporation conditions. Net evaporation

rate anticipated ca 2.5 metres per annum for Lake

Disappointment brine.

Conventional production techniques applicable:

– Brine collected via lakebed trenches.

– Solar evaporation of brines to precipitate crude

Potash salts grading 8-10% K (18-20% SOP).

– Flotation processing to refine Potash harvest.

Preliminary site works nearing completion.

Metallurgical Testwork well advanced.

Process Flowsheet Mass Balance Model completed.

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Lake Disappointment - Project Location

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The Lake Disappointment Project is 340km from Newman. Potash recovery

operations are expected to be located on the northern perimeter of the Lake.

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Lake Disappointment – Project Area Tenements

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Lake Disappointment – Resource Parameters

SOP Resource Estimate – In Situ Resource

Lower Volume estimate 3.95 x 109m3

Upper Volume estimate 4.43 x 109m3

In situ sediment bulk density 1.946 Tonnes/m3

Lower Tonnage estimate 7.7 x 109 mT

Upper Tonnage estimate 8.6 x 109 mT

Average (soluble) SOP content 3.17kg/Tonne

6.16kg/m3

Lower SOP resource estimate 24.4mT

Upper SOP resource estimate 27.3mT

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Lake Disappointment – Phase I Drill Hole Plan - 2007

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Lake Disappointment – Drill Hole Cross Section Phase I Drilling

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Lake Disappointment –Drill Hole Collar Locations with Brine SOP Values

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Lake Disappointment – Brine Parameters

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Total dissolved solids 293 g/L

Specific gravity 1.19 g/L

NaCl 238 g/L

K2SO4 12.19 g/L

MgSO4 22.65 g/L

MgCl2 5.51 g/L

NaCl/K2SO4 19.5:1

Lakebed solids % brine 30.5%

Lakebed solids specific gravity 1.95 tonne/m3

Brine composition 12.19 kg SOP/m3

Lakebed solids 6.16 kg SOP/m3

Picture of Lake Macleod brine trench

Brine Sample Pit at Lake Disappointment

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Lake Disappointment – Process Parameters

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Assumptions

A. K2SO4 output – refined product = 400,000 TPA D. Harvest K recovery from feed brine = 70%

B. Harvest Grade 8.0% K = 17.85% K2SO4 E. Evaporation rate 5.5mm per day (average)

C. Plant Recovery from harvest = 80%

Process Parameter Calculations

A. Potash Harvest

400,000 TPA K2SO4 – Refined Product

@ 80% Plant recovery = 400,000 = 500,000 TPA K2SO4 harvested

0.80

@ 8% K/17.85% K2SO4 Harvest Grade = 500,000

0.1785

= 2,800,000 TPA Harvest

B. Brine Input Requirements

Feed brine = 12.19kg K2SO4/m3

500,000 Tonnes K2SO4 in Harvest

∴ 500,000 x 103 = 41,017,227m3

12.19 @ 100% recovery

@ 70% Recovery = 41,017,227

0.7

= 58.60 x 106m3/annum

C. Evaporation Pond Area – 400,000 TPA SOP Output = 3,000 Hectares

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Pilot Evaporation Trial – Sep 2012 to Mar 2013

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Key Parameters

Initial Brine Volume 10,000 litres.

Feed Brine analysis

Potash Mixed Salt Harvest weight - 983kg.

Total Potassium (K) recovery to the combined harvest was 87.5% of input via the feed brine.

Of the 87.5% recovery 40% Potassium recovery was achieved in Stage 3 Mixed Salt grading 8.8% K.

A further 47.5% K recovery was achieved in Stage 2 Mixed Salt at a grade of 3.44% K.

Combined Stage 2 and Stage 3 Mixed Salts (harvest recovery 87.5%) provided a composite grading

4.8% K.

The Potash minerals breakdown in the combined Potash harvest

Trial Duration 180 days.

Evaporation Rate averaged 7-8mm per day (2.7m/annum).

K 0.503% Mg 0.695% Na 7.85% Cl 17.8% SO4 2.14%

Leonite K2SO4 MgSO4 4H2O 48.0%

Kainite KCl MgSO4 3H2O 37.4%

Carnallite KMgCl3 6H2O 8.8%

Sylvite KCl 5.7% For

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Evaporation Trial – July 2013

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Brine Analyses K Mg Na Cl SO4

Feed Brine g/l 19.55 53.25 53.45 210 55.0

End Brine g/l 0.85 133.7 1.80 N/A N/A

Harvest Recovery/Grade Data K Recovery

%

K Grade

%

Halite Content %

Product A 80.2 8.06 11.5

Product B 11.7 3.77 5.39

Product A + B 91.9 6.97 9.95

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Pilot Evaporation Trial Photographs

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Proposed SOP Production Process

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pulp

Schoenite pulp

Bitterns + NaCl

SOP pulp

SOP

SOP

water

Schoenite solids

brine to SOP ponds or lake

NaCl tailings settling pond

Harvested SOP salts

Milling / conversion

Schoenite filtration

SOP crystallisation

SOP filtration

Drying Compaction

Schoenite flotation

START

FINISH

Typically, harvested SOP salt is put through a milling, flotation, filtration and

crystallisation process before it is ready to be distributed.

Source: Sulphate of Potash Information Board.

Brine

50 C

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Typical Solar Evaporation/Harvesting Facilities

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Saline water is drawn into shallow solar evaporation ponds where the water is

naturally evaporated by the sun and wind before the SOP salts are harvested.

Note: Not all photographs are of Lake Disappointment.

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Development Plan

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Activity

Timing

1. Upgrade 45km of Talawana Track Completed

2. Complete Access Road (28km) – In progress July 2013

3. Establish exploration camp July 2013

4. Infill Drilling – Resource definition 2 x 2km grid over LD September 2013

5. Regional drilling – Resource expansion September-December 2013

6. Pilot Evaporation Trial (10,000 litre) Completed March 2013 – 983kg

Harvest Completed

7. Metallurgical Testwork in progress Completion August 2013

8. Flowsheet – Mass balance model - Second Pass July-August 2013

9. Scoping Study commencement 31 July 2013

10. Lake Disappointment definitive feasibility study Post Scoping Study – completion March 2014 For

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Preliminary Site Works Photographs

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Preliminary Site Works Photographs

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Potash Overview

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Potash is a generic term for various

potassium (K) salts

Used primarily as a fertiliser

– One of three primary agricultural

nutrients – N P K

– Increases yields, water retention and

disease resistance

Two main forms

– Muriate of Potash (MOP) – KCl

– Sulphate of Potash (SOP) – K2SO4

Global consumption of approx. 50 Mtpa

– MOP ca 45 Mtpa

– SOP ca 7 Mtpa

Currently no production in Australia

Australia Potash consumption ca 500 Kt/a For

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Mineral Production from Salt Lakes

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SQM/Chemetall Salar de Atacama

Lithium products

Potash (SOP, MOP)

Boric acid

Magnesium chloride

FMC Lithium Hombre Muerto

Lithium products

Potash (MOP)

Qinghai Guoan Dongtai and Xitai Salt Lakes

Lithium products

Tibet Zabuye Zabuye Salt Lake

Lithium products

Qinghai Salt Lake Dongtai Salt Lake

Lithium products

Potash (MOP)

Sentinent Group Salar del Rincón

Lithium products

Chemetall Silver Peak

Lithium Products

Compass Minerals Great Salt Lake, Big Quill Lake

Potash (SOP)

Magnesium chloride

Intrepid Potash Wendover, Moab

Potash (MOP)

Rio Tinto Lake Macleod

Sodium chloride

Arab Potash Company Dead Sea (Jordan)

Potash (MOP)

Sodium chloride

Magnesium chloride

Xinjiang Luobupo Potash Lop Nur

Potash (SOP, MOP)

Dead Sea Works Dead Sea (Israel)

Potash (MOP)

Sodium chloride

Magnesium chloride

Various other mineral products are also produced from salt lakes globally,

using similar production concepts planned by Reward.

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Proximity to Key Markets

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Reward’s geographic location places it in close proximity to key Asian markets, which

collectively accounted for over 50% of global Potash demand in 2011

West Asia

11.6% of

Global Demand

2011

East Asia

28.9% of

Global Demand

2011 South Asia

12.3% of

Global Demand

2011

Reward

Source: FAO 2011 fertilizer report

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Competent Person Statement

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Reward Minerals Ltd advise in accordance with ASX Listing Rule 5.6 that resource

parameters provided in this presentation are based on information compiled by Mr

Simon Coxhell who is a Member of the Australasian Institute of Mining and

Metallurgy and is a technical consultant to Reward Minerals Ltd. Mr Coxhell has

sufficient experience that is relevant to the style of mineralisation, type of deposit

under consideration and to the activity that he is undertaking to qualify as a

Competent Person as defined in the 2004 edition of the ‘Australasian Code for

Reporting of Exploration, Results, Mineral Resource and Ore Reserves’. Mr Coxhell

consents to the inclusion in this presentation of the matters based on his

information in the form and context in which they appear.

159 Stirling Highway, Nedlands WA 6009 | PO Box 1104, Nedlands WA 6909

T: 08 9386 4699 E: admin@rewardminerals.com

F: 08 9386 9473 W: www.rewardminerals.com

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