Operations Overview

• Vanadium critical to both steel and electrical power storage
• SVX is close to huge Chinese steel industry: 3 strategic alliances
• Great profit potential:
  • Advantageous currency and commodity pricing
  • Low-cost production (as estimated by 43-101 PEA)
  • 43-101 PEA IRR of 52.3% pre-tax
• Pre-tax NPV of $878,318,000 (43-101) on 100%-owned Daquan property
• By Q2 2012, 38.5M lbs. V2O5 annual production and 2.38-year pay-back
• Industry consolidator: 9 potential acquisition targets accelerating production to within one-to-two quarters
• Strong international management team

The estimates and assessments provided by Wardrop in the Preliminary Economic Assessment disclosed are preliminary in nature and include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. The disclosure herein is qualified by all of the assumptions and qualifications contained in the Preliminary Economic Assessment and readers are encouraged to read the Preliminary Economic Assessment in its entirety. Gregory Z. Mosher, P.Geo., of Wardrop Engineering Inc., is the qualified person who prepared the scientific and technical information supplied in the Company’s PEA.