2. Forward Looking Statements
The information in this document has been prepared as at September 21, 2012 Certain statements contained in this document
constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and
forward looking information under the provisions of Canadian provincial securities laws. When used in this document, the words
“anticipate”, “expect”, “estimate”, “forecast”, “will”, “planned”, and similar expressions are intended to identify forward‐looking
statements or information. Such statements include without limitation: statements regarding timing and other assumptions; estimates of
future resources, mineral production, optimization efforts and sales; estimates of mine life; estimates of future internal rates of return,
mining costs, processing costs, cash costs, mine site costs and other expenses; estimates of future capital expenditures and other
cash needs, and expectations as to the funding thereof; statements and information as to the projected development of the Eco Ridge
Mine, including estimates of exploration, development and production and other capital costs, and estimates of the timing of such
exploration, development and production or decisions with respect to such exploration, development and production; estimates of
resources, and statements and information regarding anticipated future exploration; the anticipated timing of events with respect to the
Company's Eco Ridge Mine project and statements and information regarding the sufficiency of the Company's cash resources. Such
statements and information reflect the Company's views as at the date of this document and are subject to certain risks, uncertainties
and assumptions, and undue reliance should not be placed on such statements and information. Many factors, known and unknown
could cause the actual results to be materially different from those expressed or implied by such forward looking statements and
information. Such risks include, but are not limited to: the volatility of prices of rare earth oxides and uranium oxide and other metals;
uncertainty of mineral resources, mineral grades and mineral recovery estimates; uncertainty of future production, capital expenditures,
and other costs; currency fluctuations; financing of additional capital requirements; cost of exploration and development programs;
mining risks; community protests; risks associated with governmental and environmental regulation; the volatility of the Company's
stock price; and other associated risks. The Company does not intend, and does not assume any obligation, to update these forward-
looking statements and information.
Note: The Preliminary Economic Assessment (“PEA”) is preliminary in nature. It includes inferred mineral resources, which are
considered too speculative geologically to have the economic considerations applied to them that would enable their categorization as
mineral reserves. There is no certainty that the PEA forecast will be realized.
2

3. The Eco Ridge Mine Rare Earth & Uranium Project
• Located in Elliot Lake: North America’s proven
heavy rare earth mining camp.
• Heavy rare earth enriched mineralogy is well
understood and provides excellent recovery.
• NI 43-101 Preliminary Economic Assessment
(“the PEA”) indicates robust economics.
• Heavy REO, Neodymium Oxide (Nd2O3) &
Uranium Oxide (U3O8) provide 85% of revenue.
• Mine construction targeted for 2015.
• World-class technical team, experienced in Elliot Lake.
3

4. PROPERTY
PEOPLE PRODUCTS
ECO RIDGE
COMPETITIVE
ADVANTAGES
PERMITTING PROCESSING
PLAN
PROJECT
ECONOMICS
4

5. Elliot Lake: A Proven Mining Camp
• 300M lbs of historic U3O8 production from Elliot Lake.
• Only Canadian camp to produce REO commercially.
• Well-understood geology, mineralogy and metallurgy.
• Outstanding regional infrastructure – highways,
railway, power, airport & deep water ports.
• Qualified work force & enthusiastic local support.
• Politically stable and mining friendly jurisdiction.
• Ideal location for safe, secure, reliable, long-term
supply of heavy REO & U3O8.
5 ECO RIDGE PROPERTY

6. 6 ECO RIDGE PROPERTY

7. REO & U3O8 Mineral Resources
Source: NI 43-101 Mineral Resource Estimate as reported by Roscoe Postle Associates, April 2012
Zone & Tonnes Total REO Uranium Oxide
Classification (000) Lbs (000) ppm Lbs (000) %
MCB – Indicated 20,514 73,184 1,618 20,447 0.045
HWZ – Indicated 28,223 51,111 821 7,214 0.012
TOTAL - Indicated 48,737 124,295 1,157 27,661 0.026
MCB – Inferred 16,906 54,515 1,463 15,940 0.043
HWZ – Inferred 20,956 37,329 808 5,822 0.013
TOTAL - Inferred 37,863 91,843 1,100 21,762 0.026
• Note: Historic drilling shows deposit continues well beyond resource wireframe.
ECO RIDGE PRODUCT
7

8. Critical Rare Earths Diversified with Uranium
• Heavy REO, neodymium Oxide (Nd2O3) &
uranium oxide (U3O8) provide 85% of
project revenue in PEA.
• US Dept. of Energy sees supply risks for
neodymium, dysprosium, europium, yttrium
& terbium (the “Critical Rare Earths”)
• Vast majority of REO revenue at Eco Ridge
from Critical Rare Earths
• Uranium oxide provides important by-
product revenue diversification.
8 ECO RIDGE PRODUCT

9. Uranium Demand is Strong
• Nuclear reactors worldwide*:
• 435 currently operating
• >60 under construction
• 160 planned
• >320 proposed
• Global production is less
than reactor consumption.
• Balance supplied from
secondary sources, which
are nearing depletion.
Sources::*WNA information papers & mining.com
9 ECO RIDGE PRODUCT

10. Average Annual Mine Production
2.7 million pounds
of U3O8
&
4,000 tonnes
of rare earth oxides
10 ECO RIDGE PRODUCT

11. NI 43-101 Preliminary Economic Assessment
Mining Cost per Tonne1 $41.52
• 9,000-tonne per day operation to produce
Processing Cost per Tonne $26.31 97.2M lbs of Total REO & 27.5M lbs of U3O8
G&A Cost per Tonne $3.50 over 11-year mine life.
Total Operating Cost • Production of strategic combination of Critical
$71.33 REO forecast to remain in supply deficit –
per Tonne
Majority of REO revenue from Heavy REO.
Net Revenue per Tonne $154.22
• Life-of-mine production includes 14.2M lbs of
Pre-Tax Cash Flow $2.16 Billion
neodymium oxide (Nd2O3) & 882K lbs of
IRR 50% dysprosium oxide (Dy2O3), 4.1M lbs of yttrium
Before-Tax Payback Period 1.5 Years oxide (Y2O3) etc. providing a vital source of
Critical REO in Canada.
Net Present Value (10%
$1.02 Billion
discount rate)
Source: NI 43-101 Preliminary Economic Assessment as reported by Roscoe Postle Associates, April 2012
11 ECO RIDGE ECONOMICS

12. Processing Circuit Optimized for HREO and Uranium
• Conventional milling achieves excellent
recovery from heavy rare earth enriched
uranium minerals.
• Bench scale acid baking tests have
achieved dramatic increase in recoveries
compared to July 2011 PEA.
• Physical concentration of ore prior to acid
baking will reduce the amount of material
to be processed by acid baking.
ECO RIDGE PROCESSING
12

13. Preliminary Processing Block Flow Diagram
Crushing, grinding, mineral concentration,
acid baking, and oxide precipitation will occur
at on-site processing complex, producing rare
earth carbonate and U3O8 “yellowcake”.
13 ECO RIDGE PROCESSING

14. Sustainable Development at Eco Ridge
• Project Description detailing
Pele’s approach to sustainable
development is currently being
prepared, targeting the License
to Construct the mine in 2015.
• Local support for Eco Ridge
highlighted by long-term lease
with the City of Elliot Lake for
key surface rights.
• Pele is continuing friendly and
productive engagement with
Aboriginal communities.
ECO RIDGE PERMITTING PLAN
14

15. Pathway to Production
2005 – Sept 2012 Q4 2012 Year 2013 Year 2014 Year 2015
✔ Acquire Property Submit Project Description to Commence Feasibility Regulatory Review & Issue Site
CNSC Study EA Decision Preparation /
Statement Construction
✔ Outline NI 43-101 Advance Baseline Complete detailed Engineering Design Begin Process Plant
Resources Characterization engineering plans for for Process Plant Construction
Program/Reporting mining and processing
✔ Mine Engineering Launch Environmental Impact Advance the Complete Detailed Begin mine
Study Environmental Impact Tailings Facility construction
Study Design Engineering
✔ Process Engineering Additional Resource Drilling Continue permitting Continue permitting Construct waste
process process management system
✔ NI 43-101 Positive PEA Public and Aboriginal Public and Aboriginal Public and Aboriginal Public and Aboriginal
Consultation Consultation Consultation Consultation
✔ Initiate Baseline
Environmental Studies
ECO RIDGE PERMITTING PLAN
15

16. World-Class Development Team
Roger Payne P. Eng
• Technical team led by Roger Payne P. Eng.,
former Rio Algom GM for Elliot Lake.
• Rare Metals Advisory Board features Dr. Anthony
Mariano and Dr. William Bird.
• Key consultants include Roscoe Postle Assoc., Dr. Anthony Mariano
SNC-Lavalin, Senes, Golder Asso., and
Saskatchewan Research Council.
ECO RIDGE PEOPLE
16

17. Pele’s Competitive Advantages at Eco Ridge
• Proven REO mining camp at Elliot Lake PROPERTY
• 85% of revenue from Critical REO & Uranium PEOPLE PRODUCTS
• Excellent REO recoveries with acid baking ECO RIDGE
COMPETITIVE
ADVANTAGES
• Updated PEA indicates robust potential
PERMITTING PROCESSING
• Updated Project Description being prepared PLAN
•
PROJECT
World-class team, experienced in Elliot Lake ECONOMICS
17

18. Mountain Pass Project
18

19. Mountain Pass Project
19

20. For More Information on
Pele Mountain Resources Inc.:
Email: ashefsky@pelemountain.com
Telephone: 416.368.7224 or 1 800.315.7353
Website: www.pelemountain.com
Twitter: @pele_mountain