INDUSTRIAL METALS, MINERALS AND MINEABLE ENERGYINVESTMENT SUMMIT 2010

LONDON CHAMBER OF COMMERCE & INDUSTRY ● WEDNESDAY, 30 NOV 2010

www.ObjectiveCapitalConferences.com1

Defining deposits in Peru's uranium district Nick Tintor – CEO, Southern Andes Energy

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Developing Peru’s Untapped Uranium Resources

Objective Capital’s Mineable Energy Investment Summit London,

November 3, 2010

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These materials present an overview of Southern Andes Energy’s projects in southern Peru. Readers are cautioned that the projects are at an early stage and that all estimates and information contained herein are based on limited and incomplete data. Additional work is required before the mineralization and the economic potential of the projects can be confidently modeled. Statements reflected in this presentation may contain “forward-looking statements” including management’s assessments of future plans and operations including expectations of future production and capital expenditures. These statements regarding potential mineralization and resources, estimated or potential future production, potential ranking of properties and future plans and objectives of the Company, are forward-looking statements that involve various known and unknown risks, uncertainties and factors. Consequently, actual results may differ materially from those anticipated in the forward-looking statements. While the work, results, estimates and projections in the presentation may be considered indicative of the nature and quality of the work undertaken, they are not definitive. Readers are advised that undue reliance should not be placed on forward-looking statements.

Cautionary NoteConcerning Forward-Looking Statements

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Southern Andes EnergyDiscovering & Developing Peru’s Uranium Resources Company formed in 2010 with explicit focus on developing Peruvian

uranium assetsLargest landowner of

uranium assets in Macusani Plateau

Strategic equity interests

• Controlling over 900 km2 of land concessions

• Over 55 uraniferous anomalies identified on Southern Andes’ land concessions• 12.7% equity interest in Macusani Yellowcake Inc.

• Controlling portfolio of advanced-stage silver-zinc-lead projects in Peru

Objective: Invest in strategic land package and attract partners to develop assets

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Our TeamManagement

Nick Tintor, President & Chief Executive OfficerGeologist, with over 25 years of experience in the mining industry; has been involved with all aspects of junior mining company management, finance and project acquisition.

Hatem Kawar, Chief Financial OfficerOver 25 years of experience in technical and management aspects of industrial mineral projects in the Middle East. MBA degree (Schulich, York University, Canada).

Arnaldo T. Leon, Country Manager – PeruMr. Leon is a mining engineer with over 32 years of experience as a mining specialist in Peru. Responsible for managing Southern Andes Energy's existing property portfolio.

Alain Vachon, Exploration Manager More than 33 years of experience in exploration of which the last 13 in Peru as General Manager and consulting geologists for various junior Canadian companies.

Robert Boaz, Independent Chairman

Board of DirectorsJonathan Challis John CookLaurence Curtis

James GarcelonNick Tintor

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Why Uranium Today?

• Spot price for U3O8 up 26% since June 2010 to US$52.00

• Good buy-in opportunity across whole spectrum of uranium mining plays

• Currently 441 commercial nuclear reactors are in operation in 30 countries 58 units under construction worldwide representing ~60GWE of capacity 152 units and 337 units planned and proposed respectively

Catalysts:

• Continued price volatility but expected long-term gains due to fundamental demand with supply deficit by 2013

• Producers are buying at spot

• Possible re-entry of hedge funds?

Uranium renaissance driven by strategic demand, rising prices

(Source: UXC, September 2010 presentation)

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Why Peru?A stable, pro-mining jurisdiction with good

infrastructure• Peru vastly underexplored for uranium

• The country has not previously emphasized uranium deposits, but is receptive to the development of these prospects

• Potential for open pit deposits between 5-25 million lbs in size

• Peru supporting export of uranium by 2011 – also highly probable to be 1 of 4 Latin American countries to have a nuclear reactor generating capacity

(Source: Peru Ministerio de la Produccion, Adex DataTrade, BCRP and MINEM)

Excellent government support for uranium mining

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Macusani PlateauSouthern Andes controls the Macusani Uranium

District

Property Size (Hectares) Commodity

Macusani East 47,819 Uranium

Macusani West 45,900 Uranium

Macusani South 10,600 Uranium

Picotani 6,606 Uranium

Piluani & Princesa 24,000 Lead, zinc & silver

Cullquimayo 5,300 Silver, copper, nickel & gold

All properties are 100% owned by Southern Andes

LIMA

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Bear Creek – Corani

Quenamari Caldera

Macusani West Macusani East

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Macusani EastSignificant Uranium Resources

Sayaña Central 1.85 million lbs.

Calvario I 1.48 million lbs.

Calvario III 1 million lbs.

Puncopata 386,000 lbs.

Colibri 17 million lbs.

Corachapi 6 million lbs.

Kihitian 280,000 lbs.

high grade structure

Tantamaco 14 million lbs

Chacaconiza Target Area

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Calvario I Project

Past exploration work consisted of:

• Geological reconnaissance survey of IPEN’s showing and limited trenching.

• Detailed radiometric survey.

• 2006-2007: 72 holes drilled - 3982.3 m.

(1) Source: Frontier Pacific Mining Corporation and not compliant with NI 43-101 standards or protocols.

Tonnes Grade (% U3O8) U3O8 (lbs)

2,291,000 (1) 0.029 1,480,000

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Calvario I ProjectCALVARIO I PROJECT: DRILLING SUMMARY

Hole Easting Northing Elev Length Best Values in ppm U3O8

CAL06-04 332550 8464975 4491 6.00 5.00-11.00: 894 ppmCAL06-05 332600 8464949 4487 5.00 2.52-7.52: 404 ppmCAL07-02 332625 8464823 4485 2.00 26.00-28.00: 7122 ppm (0.71%)CAL07-04 332625 8464823 4485 6.00 28.00-34.00: 1213 ppm (0.12%)CAL07-15 332703 8464899 4468 4.85 0.15-5.00: 491 ppm

CAL07-18 332799 8464843 4479 2.00:1.0019.00-21.00: 861 ppm; 25.00-26.00: 958 ppm

CAL07-21 332723 8464774 4486 3.00 33.00-36.00: 3410 ppm (0.34%)CAL07-22 332723 8464774 4486 5.00 30.00-35.00: 2087 ppm (0.21%)CAL07-27 332602 8464731 4478 3.00 34.00-37.00: 7043 ppm (0.70%)CAL07-28 332602 8464731 4478 5.00 32.00-37.00:1205 ppmCAL07-30 332451 8464735 4454 2.00 6.00-8.00: 2658 ppm (0.27%)CAL07-38 332651 8464925 4471 6.50 1.50-8.00: 484 ppmCAL07-39 332651 8464925 4471 7.00 2.00-9.00: 1608 ppm (0.16%)CAL07-40 332651 8464925 4471 7.00 2.00-9,00: 1196 ppm (0.12%)CAL07-45 332850 8464819 4473 3.00 8.00-11.00: 1173 ppm (0.12%)CAL07-48 332850 8464819 4473 10.00 3.00-13.00: 1161 ppm (0.12%)CAL07-50 332470 8464984 4472 7.00 1.00-8.00: 525 ppmCAL07-51 332470 8464984 4472 8.00 3.00-11.00: 553 ppmCAL07-52 332470 8464984 4472 5.00 11.00-16.00: 345 ppm

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Calvario I ProjectPUN07-01: 59.00 m-60.00m: 26775 ppm U3O8PUN07-01: 59.00 m-60.00m: 26775 ppm U3O8

CI07-27: 34.00 – 35.00 m: 18595 ppm U3O8

Layer 1: 2 m- 20 m thickSurface to 20 m in depth

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Macusani East – Chacaconiza Target Area

Top exploration priority for the company• Largest radiometric targets in

district located in the SW corner of the Macusani East Project

• High radiometric anomalies with +40,000 cps values have been identified

• Reconnaissance program in progress

• Trench and channel sampling

wide zones of uranium autunite mineralization on surface.

Focus 2010 – 2011:• Map and sample each target• Trenching and channel samples• Define mineralization on surface• Prepare to drill in 2011

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Chachaconiza – Widespread U Anomalies

Accocucho Sur hosts widespread autunite uranium mineralization in area of high radiometrics

Zones of +25,000 cps radiometrics

Alpi-2 Zone radiometric anomaly strikes for more than 6,000 m and is more than 40 m in width

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Macusani East – ChacaconizaAccocucho Sur Target

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Macusani East – ChachaconizaAccocucho Sur Target

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Turpuramani Radiometric Extension of Colibri II-III Deposit

Colibri deposit hosts 17 million lbs. U3O8

Tupuramani claim has large radiometric anomaly on strike with radiometrics at Colibri

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TUPURAMANI CONCESSION

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Macusani West

Focus 2011:• Define anomalies with close spaced

mapping and surface sampling• Include trench and channel samples of

zones• Develop drill targets for 2011

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• The Macusani West project is highly prospective.

• Large anomalies identified by ground radiometrics

• Initial analysis shows wide spread disseminated uranium

• Uranium mineralization consists of secondary minerals such coffinite, autunite, tyuyamunite and carnotite.

Chahuaña Uranium Targets

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Chahuaña Target Areas

• North target 600 m x 800 m

• Mineralized unit up to 30 m thick

• Uranium disseminated

• New area which has never been drilled

• All targets remain open

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Ignimbrite with abundant obsidian

UV Highlights Disseminated Uranium

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Preliminary Test WorkPositive Metallurgical Results

Positive results were obtained from all samples submitted to the leaching test

• U3O8 extraction; Pich sample; columns 1,2,3,4: Average 88.3%;

• U3O8 extraction; Viz sample; columns 5,6,7,8: Average 99.5%;

• U3O8 extraction; Cha sample; columns 9,10,11,12: 98.2%;

• Total acid consumption of columns 1 to 4 ranges between 13 and 14.5 kg/t;

• Total acid consumption of columns 5 to 8 ranges between 12 and 14.1 kg/t ;

• Total acid consumption of columns 9 to 12 ranges between 13.8 and 16.4 kg/t.

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Metallurgical Tests• Positive results were obtained from all

samples submitted to the leaching test • U308 extraction; Pich sample; columns

1, 2, 3, 4: Average 88.3% • U308 extraction; Viz sample; columns 5,

6, 7, 8: Average 99.5%• U308 extraction; Cha sample; columns

9, 10, 11,12: 98.2%

• Total acid consumption of columns 1 to 4 ranges between 13 and 14.5 kg/t

• Total acid consumption of columns 5 to 8 ranges between 12 and 14.1 kg/t.

• Total acid consumption of columns 9 to 12 ranges between 13.8 and 16.4 kg/t

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Macusani Uranium - Low Cost Production

Positive Mining Attributes

The mineralization found in the Macusani Uranium District is characterized by significant mining attributes:

• Near-surface mineralization

• Low blast factor in friable rocks

• Possible ripping at start

• Low work index means low crushing costs

• Very low reagent consumption in preliminary metallurgical testwork

• Excellent leach recoveries due to high porosity in host rock: +90%

• Ore in grades ranging from 200 ppm to 300 ppm

District characteristics suggest low operating

costs per lb. <$25/lb

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Caracara Silver Spin-out in ProcessSilver-lead-zinc projects in Southern Peru 100% SAE-

owned• NI 43-101 resources of 28 million oz Ag equivalent (1)(2)

• Two main projects: Princesa and Pilunani Princesa: Resource (1) of 4.6 million tonnes @ 90.88 g/t Ag, 1.69% Zn,

1.66% Pb

• Added key projects via vendor deal and map staking; significant regional upside

• Holdings expanded and exceed 24,000 hectares covering more than of 30 km strike

• Region has excellent road access via new InterOceanicHighway

(1) Mr. Alain Vachon, P. Geo., Company’s Qualified Person as defined by NI 43-101(2) Silver equiv. based on Ag spot price of US$18.23/oz. and Zn spot price of

US$0.827/lb and US$0.815/lb Pb, published by Kitco on July 14, 2010

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Caracara Silver Spin-out

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Very Prospective LandholdingRecent High Grade Sampling (1)

(1) Mr. Alain Vachon, P. Geo., Company’s Qualified Person as defined by NI 43-101

Property Sample No. Zinc Lead

Parcuyo PAR01 8.54% 11.95%

PAR02 24.07% 9.43%

Property Sample No. Silver (g/t) Zinc Lead

Princesa Princesa 854 >30% 8.52%

Princesa Project• Diatreme breccia structure

Parcuyo Project• Large diatreme breccia structure

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Southern Andes EnergyA Perfectly Positioned Peruvian Uranium Play

Share structure:As of October 20th, 2010

Shares Outstanding 53,659,709

Share Price $0.20

Options Outstanding

1,481,662 Market Capitalization

$12.44 m

Warrants Outstanding

3,125,000 Cash $2 million

Fully Diluted 58,266,371

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Summary and Conclusions

Uranium and nuclear renaissance is real

Southern Andes Energy controls the new Macusani Uranium District in Peru with more than 100,000 hectares

Results to date point to potential for lowest quartile production costs

Plan to drill new surface discoveries and known zones in 2011

Spinning out significant silver projects into Caracara Silver

Significant value creation in 2011 from uranium and silver

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Head Office (Toronto, Ontario, Canada)Nick Tintor, President & CEOOffice Tel: +1-416-987-0855Mobile Tel: +1-416-953-4244Email: ntintor@southernandes.ca

Investor Relations (Toronto, Ontario, Canada)Garreth Elston, Investor RelationsOffice Tel: +1-647-438-2193Mobile Tel: +1-647-290-7992Email: garreth@thecapitallab.com

Contact

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