South Boulder Mines Limited

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South Boulder Mines Limited Company Summary

Listed in 2003, South Boulder Mines (ASX:STB) is a diversified explorer focused on potash, nickel and gold. South Boulder has a 100% interest in the Colluli Potash Project in Eritrea and a 100% interest in the Duketon Gold Project in Western Australia. The Colluli Potash Project has a current JORC Compliant Measured, Indicated and Inferred Mineral Resource Estimate comprised of 133.70Mt @ 17.55% KCl of Measured Resources, 343.33Mt @ 17.38% KCl of Indicated Resources and 87.37Mt @ 24.96% KCl of Inferred Resources for a total of 564.40Mt @ 18.60% KCl (total contained potash of 104.96Mt); This includes higher grade Sylvinite of 130.39Mt @ 27.02% KCl. There is an exploration target of 1.25 - 1.75 billion tonnes @ 18-20% KCl. A definitive feasibility study into the open pit mining and processing to produce up to 10Mt p.a of potash is underway. Within the Duketon Gold Project area, South Boulder entered a farm-out Joint Venture (JV) Agreement with Independence, whereby Independence can earn a 70% interest in the nickel rights on JV tenements held by South Boulder in the Duketon Project, by the completion of a Bankable Feasibility Study within 5 years of the grant of the relevant tenement.

DIRECTORS / OFFICERS

David “Lorry” Hughes Managing Director Mr Lorry Hughes BSc. MAusIMM, is a Geologist with 15 years industry experience and was South Boulder Mines’ Exploration Manager since March 2008. Mr Hughes has held management positions on exploration and operational mining projects for Energy Metals Ltd, CSA Australia and Energy Resources Australia. His industry experience was gained from various gold mines and exploration prospects in the NE goldfields of Western Australia while working for Plutonic/Homestake, Aberfoyle and Mt Grace. Mr Hughes has also experience in Malaysia and Indonesia working at the Penjom gold mine in Malaysia and on gold and base metals exploration projects for Pt Inco in Indonesia. Mr Hughes has previously been responsible for mining and exploration/development operations management including, geological resource interpretation/estimation, project generation, mine planning, near mine resource development and environmental management. Terry Grammer Executive Chairman Mr Terry Grammer is a geologist with a history of exploration success over his 35 year career. He is credited with the discovery of the Cosmos Nickel mine W.A. for which he received the joint prospector of the year award in 2000. Mr Grammer was a founding member of Western Areas NL which is focused on developing the Forrestania Nickel Project in W.A.Currently Mr Grammer is a non-executive director of Hannans Reward Limited and a founding director of Montezuma Mining Company Limited. South Boulder thanks Mr Rear for his efforts in the formative years of South Boulder where he was instrumental in the Company’s IPO process and listing on ASX. Liam Cornelius Executive Director Liam graduated from Curtin University of Technology with a B.App.Sc in Geology. Liam has been involved in the exploration industry within Australia and Africa for 16 years. Whilst specializing in gold he has experience with a wide range of commodities including nickel, copper, platinum and uranium. As a founding member of South Boulder Mines Ltd, Liam has played a key role in outlining areas of interest for the Company. In addition to project generation and providing guidance to the board on future directions, his responsibilities have included public relations and fund raising. Dennis Wilkins Company Secretary Dennis is the principal of DWCorporate, a specialist provider of corporate services to the resources sector. Dennis is a qualified accountant (B.Bus) who has been a director, company secretary, or acted in a corporate consulting capacity, to listed resource companies for over 20 years. Dennis was Finance Director and Company Secretary for Lynas Corporation Limited, for a period of five years. He also spent five years working for a leading merchant bank in the United Kingdom, together with resource postings to Indonesia, South Africa and New Zealand in managerial roles. Dennis has extensive experience in exploration and operational financial reporting, together with treasury management.

ANNUAL REPORT

PRESENTATIONS

COMPANY DATA

	Headquarters	Ground Floor
		31 Ventnor Avenue
		West Perth WA 6005
		Australia
	Telephone	+61-8-6315-1444
	Fax	+61-8-9486-7093
	Principal Sector	Mining
	Principal Industry	Materials
	Listed	2003/10/17
	Homepage	www.southbouldermines.com.au

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Key Developments: South Boulder Mines Limited

	FINANCE VIDEO: South Boulder Mines (ASX:STB) CEO and MD Lorry Hughes Speaks with ABN Newswire's CEO Tim Mckinnon at Hard Assets New York 2012. MAY 24, 2012 05:28 - Article Views: 5,327 Mr Lorry Hughes BSc. MAusIMM, is a Geologist with 20 years industry experience and has been South Boulder Mines' CEO and Managing Director since 2008. Mr Hughes has held senior management positions on exploration and operational mining projects for Energy Metals Ltd, CSA Australia Ltd and Energy Resources Australia Ltd.
	South Boulder Mines Limited (ASX:STB) Corporate Advisor Appointed MAR 28, 2012 09:42 - Article Views: 931 South Boulder Mines Limited (ASX:STB) is pleased to announce the appointment of Azure Capital Limited ("Azure") as corporate advisor. Azure's primary role will be to assist with the evaluation of the Colluli Potash Project in respect of the paid participation interest of the Eritrean Government through the Eritrean National Mining Corporation ("ENAMCO") referred to in South Boulder's ASX release dated 26th March 2012.
	South Boulder Mines Limited (ASX:STB) Discussion with ENAMCO for Paid Participation Interest in Colluli Potash Project MAR 26, 2012 09:24 - Article Views: 1,871 South Boulder Mines Ltd (ASX:STB) is very pleased to announce that the Eritrean Government through the Eritrean National Mining Corporation ("ENAMCO") has requested that South Boulder submit a proposal to commence discussions regarding ENAMCO's intention to acquire up to a 30% paid participating interest in the Colluli Potash Project.
	South Boulder Mines Limited (ASX:STB) Drilling Recommenced at Duketon Nickel JV FEB 27, 2012 08:24 - Article Views: 1,183 South Boulder Mines Ltd (ASX:STB) is pleased to announce that Diamond and RC resource definition and extension drilling has recommenced at the Duketon Nickel Joint Venture (DNJV) located ~120km NNW of Laverton in Western Australia. Independence Group NL (ASX:IGO) is earning 70% of the nickel rights by sole funding exploration and development through to the completion of a Bankable Feasibility Study (BFS) within 5 years of the grant of the relevant tenement.
	South Boulder Mines Limited (ASX:STB) Divestment of Cardabia Phosphate Project FEB 17, 2012 08:28 - Article Views: 1,160 South Boulder Mines Limited (ASX:STB) is pleased to announce that it has entered into a joint venture agreement with TSX listed Strata Minerals Inc. (CVE:SMP) on the non-core Cardabia Phosphate Project in Western Australia.
	South Boulder Mines Limited (ASX:STB) Quarterly Activities Report JAN 31, 2012 14:00 - Article Views: 1,201 South Boulder Mines Limited (ASX:STB) is pleased to provide a quarterly report for the period ended 31 December 2011.
	South Boulder Mines Limited (ASX:STB) Colluli Potash Project Corporate Video JAN 18, 2012 10:05 - Article Views: 1,216 South Boulder Mines Limited (ASX:STB) has recently created a corporate video detailing the Colluli Potash Project in Eritrea. The video is titled "The Colluli Potash Project" and it is available for viewing subject to the disclaimers featured in this release.
	South Boulder Mines Limited (ASX:STB) Colluli Drilling and Feasibility Update JAN 11, 2012 12:11 - Article Views: 1,187 South Boulder Mines Limited (ASX:STB) is pleased to provide an update on drilling and definitive feasibility study (DFS) activity in relation to the development of the Colluli Potash Deposit in Eritrea. The completion of a highly positive engineering scoping study (ESS) in November has allowed the Company to expedite the transition to potash production in 2016 or sooner.
	South Boulder Mines Limited (ASX:STB) Appoints Flavio Garofalo as Chief Financial Officer JAN 4, 2012 14:37 - Article Views: 1,444 South Boulder Mines Ltd (ASX:STB) is very pleased to announce the appointment of Mr Flavio Garofalo in the new role of Chief Financial Officer, effective from February 2012.
	South Boulder Mines Limited (ASX:STB) Reports Positive Results from the Scoping Study for the Colluli Potash Project NOV 23, 2011 08:23 - Article Views: 1,161 South Boulder Mines Limited (ASX:STB) is very pleased to report that Discounted Cash Flow financial modeling for the base case Stage 1 open pit mining and processing of the Colluli Potash Deposit has returned highly favourable economics.

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