MMXRecursos Recursos

eReservas

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

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MMXLocalização

Serra Azul / Pau de Vinho

Bom Sucesso

Fortuna/ Patrícia

Mina 63 / Rabicho / NE Urucum

Relação entre Recurso Mineral e Reserva Mineral

4

Recursos GeológicosBrazil e Chile

Total Potencial

(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

Recursos

Inferido

(Mt)

SondagemRecursos Auditados

(Mt)

Potencial Mineral

(Mt)

Metros

SondadosLocalização

Medido

(Mt)

Indicado

(Mt) Fe% Fe%

5*1 Até 10/Abril/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 82.739 637,8 402,1 426,8 2.631 35,8 1.434 31,7

1 - MMX Corumbá e Sudeste = Recursos Totais,

4 - Pau de Vinho e Chile serão auditados em breve .

3 - Tonelagem base úmida

2 - Chile = Recursos Potencialmente Lavráveis (teor de corte Fe>15%)

Serra Azul / Pau de VinhoPesquisa Geológica

280 furos27.490 metros

81 furos11.570 metros

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Serra AzulSeção Geológica Vertical em 3D

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Serra Azul Modelo Geológico 3D

8

Serra AzulClassificações da Surpefície

Superfície de Classificação Potencial

Recursos Medidos, Indicados

e Inferidos

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Serra AzulRecursos* - Auditado NI43.101 – Dezembro 2010

Tipo de Rocha ClasseTonelagem

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

Medido 200

Indicado 62

Inferido 6

Total 268 47,5 26,9 2,4 0,22 0,065 1,8

Medido 384

Minério

Friável

*data de ref. 16 de Novembro, 2010 10

Medido 384

Indicado 253

Inferido 4

Total 641 35,2 48,2 0,7 0,05 0,025 0,4

Medido 585

Indicado 315

Inferido 9

Total 909 38,8 41,9 1,2 0,1 0,037 0,9

Potencial 571

Total Geral

Minério

Compacto

Total

1.5 Bilhão de toneladas

Pau de VinhoRecursos*1

Mt*2 Fe SiO2 P Al2O3 LOI

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

Pau de Vinho - Recurso Medido, Indicado e Inferido*1

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

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

*1 - Recurso baseado na avaliação da Usiminas, não auditado // *2 - Tonelagem em base seca

� Os recursos de Pau de Vinho serão auditados no 2H2011

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Bom SucessoSeção geológica vertical

QuartizitoFilito

Itabirito

12

Bom SucessoRecursos Auditados

13

CorumbáRecursos e Reservas

63

Min

eR

ab

ich

o

� Recursos auditados conforme NI43.101

Ra

bic

ho

NE

Uru

cum

� Reservas auditadas conforme NI43.101

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Chile Localização e Logística

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• Início da campanha de

sondagem:

Outubro/2010

• Sondagem realizada

(2010 / 2011 até 10/April):

Fortuna

Reconquista Norte

Chile Projeto Fortuna – Programa de Pesquisa

(2010 / 2011 até 10/April):

73 furos = 17.900 m

• Programado 2011:

54.503 m

Fortuna

Reconquista

Fierro

(Elisa)Pilhas)

Cerro Iman

Reconquista

Sul (R10)

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