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Kasbah Resources Limited

[ ASX : KAS ]

Mines & Money Hong Kong 2012

An Emerging Tin Producer

DISCLAIMER

Certain oral and written statements contained or incorporated by reference in this presentation, including information as to the future financial or operating performance of the Company and its projects, constitute forward-looking statements. All statements, other than statements of historical fact, are forward-looking statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements.

Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of tin or other metal production and prices, operating costs and results,

capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and

assumptions related to future business, economic, market, political, social and other conditions that, while considered reasonable by the Company, are inherently subject to significant uncertainties

and contingencies.

Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements. Such factors

include, but are not limited to: competition; mineral prices; ability to meet additional funding requirements; exploration, development and operating risks; uninsurable risks; uncertainties inherent in

ore reserve and resource estimates; dependence on third party smelting facilities; factors associated with foreign operations and related regulatory risks; environmental regulation and liability;

currency risks; effects of inflation on results of operations; factors relating to title to properties; native title and aboriginal heritage issues; dependence on key personnel; and share price volatility and

also include unanticipated and unusual events, many of which are beyond the Company’s ability to control or predict.

For further information, please see the Company's most recent annual financial statement, a copy of which can be obtained from the Company on request or at the Company's website:

www.kasbahresources.com.

The Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. All forward-looking

statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and,

accordingly, not to put undue reliance on such statements.

The information in this report is based on information compiled by Mr. Chris Bolger a Member of the Australasian Institute of Mining and Metallurgy. Mr. Bolger is a full-time employee of Kasbah Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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 Resources and Ore

Reserves’. Mr. Bolger consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

The information in this report that relates to Kasbah Resources Limited’s mineral resource estimates for the Achmmach Project, is based on information compiled by Michael V.

McKeown who is a Fellow of the Australasian Institute of Mining and Metallurgy. Michael McKeown is employed by Mining One Pty Ltd and he has sufficient experience which is

relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a 'Competent Person' as defined in the

2004 Edition of the ”Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves” (JORC Code).

Michael McKeown consents to the inclusion in this of the matters based on his information in the form and context in which it appears.

COMPETENT PERSON’S STATEMENT

Two tin projects in Morocco;

Achmmach Project (100% Kasbah - Toyota Tsusho earning in)

Bou El Jaj Project (100% Kasbah)

Achmmach Resource – 14.6 Mt @ 0.9% Sn (135,000 t contained tin)

Strategic partner Toyota Tsusho earning in on Achmmach

Achmmach PFS due for completion April 2012

On track to become next pure tin producer

Experienced tin team and 1st class share register

KASBAH Resources - An Emerging Tin Producer

ASX KAS

ASX : KAS – Corporate Snapshot

Capital Structure

Shares on Issue 364 M

Options on Issue 40.7 M

Market Capitalisation (28cps) $ 101 M

Cash (31 Dec 2011) $ 16.3 M

Major Shareholders

Directors 2.9%

Major Institutional Investors

African Lion 2 Fund 14.4%

IFC (World Bank) 12.7%

Transamine 4.1%

Bond Street Custodians 3.6%

Thailand Smelting & Refining 2.2%

Traxys Projects 1.7%

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0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

0.45

Apr-10 Jun-10 Aug-10 Oct-10 Dec-10 Feb-11 Apr-11 Jun-11 Aug-11 Oct-11 Dec-11 Feb-12

KAS Share Price

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Long history of Mining

Tin - since Phoenician times

Phosphate - largest producer in the world

Cu / Pb / Zn / Ag – operating mines

Export driven country (14 km to Europe)

Efficient ports at Tangier and Casablanca

Modern roads and heavy rail infrastructure

Favorable Corporate & Tax Regime

Incentives for exporters

No restrictive ownership laws

WHY MOROCCO ?

Achmmach & BLJ Project

Location

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TIN – 4 Reasons To Be A Bull

Supply gap growing

Production declining from tin majors & few new, sustainable tin projects in development

Low stock to consumption ratio

Electronic demand major growth driver

“ Tin offers, in our view, one of the most persuasively bullish stories, not only

within the base metal, but also the commodities complex as a whole ” Barclays Feb 12

TIN PRICE & STOCK LEVELS – to March 2012

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5,000

10,000

15,000

20,000

25,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

$15,000

$16,000

$17,000

$18,000

$19,000

$20,000

$21,000

$22,000

$23,000

$24,000

$25,000

$26,000

LME Stock (tonnes)

US/t LME Tin

(Cash Price and Stock Levels)

Tin Stock (LME Cash) Tin Price (LME Cash)

Solder 53%

Tin Plate & Packaging

16.5%

Chemicals 14%

Other (Alloys) 10.5%

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CONSUMPTION – Consumer electronics - not cans

Mike Spratt Non - executive

Chairman

Rod Marston Non - executive

Director

Trevor O’Connor CFO & Company

Secretary

Wayne Bramwell Managing Director

Mike Kitney Chief Operating

Officer

Rob Weinberg Non - executive

Director

Ian McCubbing Non - executive

Director

Gary Davison Non - executive

Director

KASBAH – Our Team

Chris Bolger GM Exploration &

Resource Dev

Extensive tin mining, smelting and engineering experience

Strong capabilities across key disciplines

Geology

Metallurgy & project management

Mine planning, design and operations

Corporate and project finance

ACHMMACH TIN PROJECT, Morocco

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New Resource Announced

19/3/12 135,000 t

contained tin

Potential for new parallel

lodes

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Meknes Trend only

Open Open

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ACHMMACH – Best in Class

Mineral Resource Estimate for Achmmach Meknes Trend

16 March 2012 (0.5% Sn cut off)

Category Million Tonnes

% Sn

Contained Sn (Kt)

Indicated 5.3 0.8 42

Inferred 9.3 1.0 93

Total 14.6 0.9 135

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TOYOTA TSUSHO JV – A Strategic Partnership

Toyota Tsusho Corporation (Toyota Tsusho)

premier tin trading house in Asia (trades ≈ 8% of the global tin market)

expertise will be utilised to maximise Achmmach concentrate marketing strategy

Toyota Tsusho can earn 20% interest in Achmmach by;

i. making $16M in staged payments plus a Final Payment to Kasbah, &

ii. signing a JV agreement.

Toyota Tsusho’s relationship with Japan Oil, Gas and Metals National Corporation (JOGMEC) opens another conduit to project finance

Expect to receive first $16M from Toyota Tsusho by 30 June 2012

ACHMMACH – Pre-Feasibility Underway

1Mtpa production base case

Decline mine access

Mechanised UG mining methods

Conventional gravity and flotation plant

Clean oxide ore = high purity concentrates

7000 – 8000 tpa of tin in concentrate

All concentrate for export

Project Task 2012 2013

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Drilling – extensional & infill

EIA Complete

PFS complete

Resource upgrades

DFS commences

Metallurgical testwork

Mine design

Engineering Design

Capital & Operating cost

Target DFS Completion

Project Financing

ACHMMACH – Project Schedule

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KASBAH – Tin Project Pipeline

EARLY STAGE EVALUATION

DRILLING RESOURCE

DEVELOPMENT PFS / DFS CONSTRUCTION

ACHMMACH – Meknes Trend

ACHMMACH Sidi Addi Trend

BLJ

KASBAH – A Unique Investment Proposition

Tin asset base expanding

Strategic partner & major shareholders reduce development risk for Achmmach

Active drill program with 5 rigs operational

Proximate & satellite tin targets accretive in value

Pro-mining and pro-development country

$16M in cash (Dec 11)

Experienced tin team

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KASBAH – Looking Ahead

PFS release April 2012

Toyota Tsusho payments to follow

Achmmach resource upside

Q3 Meknes Trend resource upgrade

New targets - Sidi Addi Trend & BLJ

DFS completed Q1 2013

www.kasbahresources.com An Emerging Tin Producer