Sierra Rutile Limited

Sierra Rutile is a leading mineral sands company, operating world-class assets in Sierra Leone. Sierra Rutile is in the process of significantly expanding its core rutile production, with associated increases of zircon and ilmenite by-products. Sierra Rutile’s assets are located in the Republic of Sierra Leone and center on the world-class natural rutile deposit located in the Southwest of the country. The deposit has a JORC-compliant resource of over 600 million tonnes at 1.29% rutile (measured, indicated and inferred resource, as of February 2011, at a 0.8% cut-off grade), making it one of the largest natural rutile deposits in the world. Sierra Rutile currently operates one 1,000 tonne per hour dredge and processes the ore through an existing floating treatment plant and land processing plant. Sierra Rutile also has extensive infrastructure in place, including its own power plant and distribution network, export port, mining camp, laboratory and, road network. The company is headquartered in Freetown, Sierra Leone’s capital. Sierra Rutile is currently undergoing a significant expansion of its operations. It has commenced the construction of a dry mining operation and introduced a second smaller dredge to reprocess old tailings. Furthermore, a feasibility study is underway on a third large dredge. Existing excess infrastructure capacity minimizes the challenges of Sierra Rutile’s expansion.