1

Kasbah Resources Limited

An

Emerging

Tin Producer

ITRI Cape Town 2012

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

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Two tin projects in Morocco:

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

Bou El Jaj Project (100% Kasbah)

Achmmach is a strategic tin asset - 14.6 Mt @ 0.9% Sn (135kt contained tin)

Achmmach PFS completion May 2012 , DFS to commence

On track to become next significant tin producer

New tin targets – Sidi Addi and Bou El Jaj

KASBAH Resources - An Emerging Tin Producer

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Major Shareholders

African Lion 14.4%

IFC (World Bank) 12.7%

Directors & Management 3.6%

Bond Street Custodians 3.3%

Capital Structure

Shares on Issue 365 M

Options on Issue 39.7 M

Market Cap (11/4/12 @30cps) $109 M

Shareholders with tin exposure

Transamine 3.6%

Thaisarco 2.2%

Traxys 1.7%

Cash ( 31 March 2012)

≈ $13 M

ASX : KAS

KASBAH – Corporate Snapshot

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Meknes 14.6Mt @ 0.9% Sn for 135,000 t contained tin

Another Meknes ?

ACHMMACH – A Strategic Tin Asset

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ACHMMACH – Still Growing

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

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

SRZHeemskirk*(Hardrock)

KasbahAchmmach

(2010)

CSDQLD*

(Hardrock)

VMSMt Lindsay(Hardrock)

MLXRentails(Tailings)

MinsurSan Rafael(Tailings)

KasbahAchmmach

2012(Hardrock)

MLXRenison Bell(Hardrock)

MinsurSan Rafael(Hardrock)

Co

nta

ine

d T

in (

ton

ne

s)

Major Hard Rock Tin Resources **

ACHMMACH – To the “A League”

7 ** Company reports and presentations * Multiple resources – not single target

ACHMMACH – Pre-Feasibility Metrics

Base Case

8 - 10 year mine life – Meknes Trend only

1Mtpa production scale

Decline mine access

LHOS mining, conventional gravity and flotation

5500 – 6500 tpa of tin in concentrate

All concentrate for export

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9 ACHMMACH – 1 M tpa Underground Mine

10 ACHMMACH – Conventional Flowsheet

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TOYOTA TSUSHO JV – A Strategic Partnership

Toyota Tsusho Corporation (Toyota Tsusho)

premier Asian tin trading house (≈ 8% of the global tin market)

expertise will 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 31 July 2012

Project Task 2012 2013

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Drilling – Meknes Trend

Drilling – Sidi Addi Trend

Drilling – BLJ

EIA Complete

PFS complete

DFS commences

Metallurgical testwork

Mine design

Engineering Design

Capital & Operating cost

Target DFS Completion

Project Financing

ACHMMACH – Project Schedule

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Sidi Addi 2 km of

strike = ?

Bou El Jaj 3.5 km of strike = ?

Meknes 2 km of

strike = 14.6 Mt

New Targets – Value Accretive

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UPSIDE – Development Pipeline Growing

EARLY STAGE EVALUATION

DRILLING RESOURCE

DEVELOPMENT PFS / DFS

CONSTRUCTION

ACHMMACH – Meknes Trend

ACHMMACH Sidi Addi Trend

BOU EL JAJ

Achmmach is a strategic asset …..and growing

5 rigs drilling – next resource upgrade in Q3

Strategic partner & major shareholders de-risk Achmmach development

Sidi Addi & BLJ – new targets accretive in value

Experienced tin team

≈ $13 M in cash (March 12)

KASBAH – An Emerging Tin Producer

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