CORPORATE INFORMATION

DIRECTORS & MANAGEMENT

Warren MacLeod BA., Director, President & CEO

Paul Moore P.Geo, Director & VP Exploration

Donald S. MacLeodDirector

Edmund Merringer LL.B., Director

Steven Poad CA, Director

Dan Burneski, Director

Andrew Forrest MSc BEng, Director

Basia Dzierzanowska LL.B.,Corporate Secretary

Teri Anderson MBA CA, Chief Financial Officer

CORPORATE ADDRESS

247 Dill Road, RR 1Windsor, Nova ScotiaB0N 2T0  CANADA

Tel: (902) 472-3520

INVESTOR INFORMATION

Trading TSX-VSymbol BMC.VShares Outstanding 166,283,160Options 12,485,000Warrants 7,732,307

CONTACT

www.buchansminerals.com

Warren MacLeodcontact@buchansminerals.com(902) 472 3520

About Buchans Minerals (BMC-V) a Canadian junior exploration & pre-development company Buchans Minerals is focused on exploration and development projects in Atlantic Canada. There are two core projects that include its base metal deposits in central Newfoundland (including the Lundberg project) and the Woodstock manganese deposits in western New Brunswick. Buchans has now entered into joint venture agreements with Minco plc. (AIM Market: MIO) whereby Minco will advance the development of both the Company’s Newfoundland base metal assets and the Woodstock manganese assets.

Buchans Minerals and Minco plc. agree to MergeOn April 30th, 2013, Buchans Minerals and Minco entered into a binding agreement to complete a business combination by way of a court approved plan of arrangement under the Canada Business Corporations Act. The completion of the Arrangement will create a well funded premier industrial and base metals exploration and development company with advanced projects in established mining jurisdictions in eastern Canada. The merger is recommended unanimously by the Board of Directors of the Company and will be decided by Buchans Minerals shareholders at a shareholders meeting to be held on June 28th, 2013.

Advancing Lundberg base metal deposit to Pre-FeasibilityOn April 27th 2012, Buchans Minerals announced that it entered into a letter agreement with Minco plc. whereby Minco could earn a 51% interest in the Company’s 100% owned base metal properties in Newfoundland, Canada by spending $8 million to advance the Lundberg base metal deposit to final feasibility over 4 years and to further explore the Company’s extensive mineral properties in the Buchans camp. Work is now underway towards the completion of a pre-feasibility study on Lundberg with the completion of a 58 drill hole program comprising 8,184 metres that successfully upgraded the majority of the previously estimated Inferred resource of 21.82 million tonnes as well as increasing the overall tonnage to an Indicated resource of 23.44 million tonnes and an additional Inferred resource of 4.31 million tonnes. In addition to defining the resource, Minco plans to undertake a range of development activities that will include geotechnical engineering, open-pit mine plan, metallurgy, plant design, engineering, environmental studies and an economic evaluation.

Woodstock Manganese deposits Buchans Minerals is evaluating its 100% owned Plymouth manganese deposit located on its 5,800 hectare property in new Brunswick, Canada for development of an electrolytic manganese metal (“EMM”) and/or a manganese sulphate crystal production facility. The targeted operating costs for the project are anticipated to be among the lowest in the industry, thus positioning the project to

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“The merger with Minco represents an excellent value opportunity for the shareholders of both companies. We believe that consolidating the ownership of the Lundberg base metal project in central Newfoundland and the Woodstock manganese project in New Brunswick is a major step towards achieving our strategy of creating a strong intermediate base metal company with an attractive growth profile focused on enhancing shareholder value. In addition, the merger provides Buchans Minerals shareholders with a 45.2% premium to recent market prices, access to greater market liquidity and a strengthened balance sheet with over $14 million in cash.” Warren MacLeod, President & CEO

significantly undercut Chinese producers in supplying both the Chinese and the international EMM markets. Given development restrictions facing EMM producers in China and the declining tonnages and grades of Chinese manganese carbonate ores, the Company believes an opportunity now exists to develop manganese carbonate deposits to produce EMM and other high-grade manganese products outside of China to meet the future demand from China and the rest of the world. Management believes the Plymouth deposit may have sufficient size and process characteristics to play a major role in this opportunity and is focused on advancing the project as rapidly as possible towards completing a preliminary economic assessment (“PEA”) under its current agreement with Minco.

Option Agreement signed with Minco plc to Advance development of Woodstock Manganese DepositsOn October 31st, 2012, Buchans Minerals signed an option agreement with Minco whereby Minco will initially make a firm commitment to earn a 10% interest in the Woodstock project by spending phase one expenditures of $1.250 million by drilling an inferred resource on the Plymouth deposit that has now been completed. Following phase one expenditures, Minco will have 30 days to decide to continue with phase two expenditures of $750,000 to complete a preliminary economic assessment (“PEA”) on the Plymouth deposit over a six month period and to earn a further 10% interest in the Woodstock project. Upon completion of the PEA, Minco will have an exclusive 3 month option to decide to earn a further 30% interest (for a total 50% interest) in the Woodstock project by completing an NI 43-101 compliant pre-feasibility report on the Plymouth deposit within two years (the budget to be determined at that time).

Plymouth manganese deposit Inferred ResourceOn May 6, 2013, the Company announced an NI 43-101 compliant Inferred Resource estimate for the Plymouth manganese deposit located within its 100% owned Woodstock property that consists of an Inferred resources totaling 43.7 million tonnes grading 9.98% Mn at a 5% Mn cut-off containing 9.62 billion pounds of manganese. Higher grade cutoffs includes resources of 22.5 million tonnes grading 11.86% Mn at a 10% Mn cut-off and 9.1 million tonnes grading 13.19% Mn at a 12% Mn cut-off.

Plymouth deposit Hydrometallurgical testsSince 2011, Thibault & Associates Inc. have conducted a comprehensive bench scale test program to develop a hydrometallurgical process to produce EMM from the Plymouth deposit. The base case flowsheet is very similar to standard flowshhets found in Chinese EMM operations and consists of crushing/grinding, sulphuric acid leaching, selective precipitation of iron by goethite precipitation, tertiary solution purification by sulphide precipitation and conventional electrowinning of a purified manganese sulphate solution to produce EMM. Based on the results of the bench scale test program and mass balance modeling of the proposed hydrometallurgical process, the overall recovery of manganese in the hydrometallurgical process is expected to be in the range of 85% to 90%. The bench scale test program data compiled to date is considered to be sufficient to enable completion of a PEA. Subsequent to the PEA Thibault has recommended that the next phase of process testing be based on the operation of small scale continuous (or semi-continuous) pilot test equipment to include operation of an electrowinning cell for production of EMM to confirm product grade and current efficiency relative to hydrometallurgical process operating conditions, solution purity and cell operating parameters.

Understanding ManganeseIn the global manganese market, there are primarily two types of manganese ores: manganese oxide ores that generally grade 35%-44% Mn and manganese carbonate ores that grade 10%-20% Mn, such as the Company’s Plymouth deposit. The important difference between these two ores is that they produce entirely different products. Oxide ores are processed by physical concentration techniques to produce manganese concentrates that grade about 50% Mn. These concentrates are sold primarily to produce 60–77% silicomanganese and 65-80% ferromanganese for production of flat and long steel. Carbonate ores on the other hand are processed using hydrometallurgical leaching and electrowinning techniques to produce high-purity >99% EMM that are primarily used in the production of stainless steel, specialty steels and high-purity alloys. EMM is employed in a wide range of applications, including 200-series stainless steels used for mostly consumer applications, other steels, non-ferrous alloys in the canning industry, electronic components, and specialty chemical applications.

Please feel free to visit our website to learn more about Buchans Minerals Corporation at www.buchansminerals.com

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