MMXResources Resources

and Reserves

Disclaimer

This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in thePrivate Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities ExchangeAct of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking statements andare often characterized by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”,“will”, or “intends”, or by discussions or comments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements include projections regarding our operating capacity, operating expenditures, capital expenditures and start-up dates.

By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general andspecific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in suchspecific. The risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in suchstatements may not be indicative of results or developments in future periods. We caution participants of this presentation not to placeundue reliance on these forward-looking statements as a number of factors could cause future results to differ materially from thesestatements.

Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on atimely basis or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, andchanges in economic, political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make decisions, investors should carefully consider these factors as well as other uncertainties and events.

MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell(which can only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States,or any other jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registeredunder the U.S. Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the UnitedStates absent registration or an applicable exemption from such registration requirements.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in partwithout MMX’s prior written consent. Investor Relations

Roger Downey – CEO & IRO

Camila Anker– IR Manager

Rafaela Gunzburger – Analyst

Beatriz Yoshinaga - Assistant

Tel. + 55 21 2555-6197/ 6338

ri@mmx.com.br

2

MMXLocation

Serra Azul / Pau de Vinho

Bom Sucesso

Fortuna/ Patrícia

Mina 63 / Rabicho / NE Urucum

Relationship between Mineral Resources and Mineral Reserves

4

Geological ResourcesBrazil and Chile

Total Potential

(Mt) (Mt)

Serra Azul 27.490 584,4 315,1 9,5 909 38,9 570 33,0

Bom Sucesso 4.610 365,0 365 29,9 741 27,7

Indicated

(Mt) Fe% Fe%

Resources

Inferred

(Mt)

DrillingAudited Resources

(Mt)

Mineral Potential

(Mt)

Meters

Drilled Sites

Measured

(Mt)

5*1 Until 10/April/2011

Bom Sucesso 4.610 365,0 365 29,9 741 27,7

Pau de Vinho 11.570 875 35,2

Sudeste Total 43.670 584,4 315,1 374,5 2.149 35,9 1.311 30,0

Corumbá Total 7.390 53,4 87,0 52,3 192 51,3 123 50,0

Chile (PMR) 31.679 290 25,0

MMX Total 82.739 637,9 402,0 426,8 2.631 35,8 1.434 31,7

1 - MMX Corumbá and Sudeste = Total Resources,

4 - Pau de Vinho and Chile will be audited soon.

3 - Tonnes in wet basis

2 - Chile = Potential Mineable Resources (cutoff Fe>15%)

Serra Azul / Pau de VinhoGeological Research

280 drill holes27.490 meters

81 drill holes11.570 meters

6

Serra AzulGeological Vertical Cross Sections in 3D

7

Serra Azul 3D Model

The geology was coded in the block model, based on horizontal sections

(designed at middle of each bench 10m apart).

8

Serra AzulClassification Surfaces

Classification

surfacePotential

Measured, Indicated and

Inferred Resources

9

Serra AzulResources* - Audited NI43.101 - December 2010

ROCK CLASSTonnage

(Mt)Fe% SiO2% Al2O3% Mn% P% LOI%

Measured 200

Indicated 62

Inferred 6

Total 268 47.5 26.9 2.4 0.22 0.065 1.8

Measured 384

Indicated 253

FRIABLE

ORE

COMPACT

*ref. date November 16th, 2010

Indicated 253

Inferred 4

Total 641 35.2 48.2 0.7 0.05 0.025 0.4

Measured 585

Indicated 315

Inferred 9

Total 909 38.8 41.9 1.2 0.10 0.037 0.9

POTENTIAL 571

TOTAL GENERAL: 1.5 Billion tonnes

COMPACT

ORE

TOTAL

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Pau de VinhoResources*1

Mt*2 Fe SiO2 P Al2O3 LOI

Friable 115 38,07 30,12 0,067 1,84 2,28

Pau de Vinho - Measured, Indicated and Inferred Resources*1

Compact 760 33,94 47,59 0,031 0,54 1,83

Total 875 34,48 45,30 0,036 0,71 1,89

*1 - Resources based on Usiminas evaluation, not audited // *2 - Tonnes in dry basis

� The Pau de Vinho resources will be audited in 2H2011

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Bom SucessoTypical Geological Vertical Section

QuartzitePhyllite

Itabirite

12

LITHOLOGY CLASS Tonnage(kt) (%) Fe SiO2 Al2O3 P Mn LOI

INFERRED 52.000 68% 42,05 34,32 1,28 0,049 0,39 2,39

IF POTENTIAL 24.000 32% 41,76 33,85 1,11 0,053 0,46 2,73

TOTALS: 76.000 100% 41,96 34,18 1,23 0,050 0,41 2,50

INFERRED 21.000 75% 38,27 40,47 0,67 0,043 0,17 1,53

Bom SucessoAudited Resources

INFERRED 21.000 75% 38,27 40,47 0,67 0,043 0,17 1,53

ISC POTENTIAL 7.000 25% 35,89 41,45 0,95 0,042 0,21 1,58

TOTALS: 28.000 100% 37,68 40,72 0,74 0,043 0,18 1,55

INFERRED 291.000 29% 27,14 43,30 1,30 0,039 0,17 3,09

IC POTENTIAL 710.000 71% 27,12 44,56 2,14 0,043 0,24 2,93

TOTALS: 1.001.000 100% 27,13 44,19 1,90 0,042 0,22 2,98

INFERRED 365.000 33% 29,92 41,85 1,26 0,041 0,20 2,90

TOTALS POTENTIAL 741.000 67% 27,67 44,20 2,10 0,044 0,25 2,91

TOTALS: 1.106.000 100% 28,41 43,42 1,82 0,043 0,23 2,91

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CorumbáResouces and reserves

63

Min

eR

ab

ich

o

� Resources audited according to NI43.101

Resources

(Mt)Fe%

Potential

(Mt)

Total

(Mt)

63 Mine 95,2 51,4 1,0 96,17

NE Urucum 70,0 52,2 28,0 98,01

Rabicho Sul 27,5 48,5 94,0 121,54

Total MMX Corumbá 192,7 51,3 123,0 315,72

Ra

bic

ho

NE

Uru

cum

� Reserves audited according to NI43.101

Total MMX Corumbá 192,7 51,3 123,0 315,72

* 63 Mine audited in October 2010.

* NE Urucum audited in March, 2008.

* Rabicho South, audited in December, 2009.

Classification Mt Fe% SiO2% Al2O3% P%

Proven 16,25 57,91 10,52 3,27 0,06

Probable 3,10 60,10 9,31 2,27 0,07

Total 19,35 58,26 10,33 3,11 0,06

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Chile Location and Logistics

15

• Drilling campaign start:

October/2010

• Accomplished

(2010 / 2011 until 10/April): Fortuna

Reconquista Norte

Chile Fortuna Project – Research Program

73 holes = 17.900 m

• Scheduled (2011):

54.503 m

Fortuna

Reconquista

Fierro

(Elisa)Pilhas)

Cerro Iman

Reconquista

Sul (R10)

16