1

• Discovery at the Pyramid project – Cu-Au-Mo porphyry that remains open in all directions and depth

• Alaska focused: Gold and Copper

• Partners: Antofagasta and Anglo American/First Dynasty Mines

• Numerous greenfields projects; management team discovered Underworld’s White Gold Project

Company Overview

Symbol: TSX.V – FMM Shares Outstanding: 49,631,977 Fully Diluted: 61,196,952 Stock Options: Exercise Price Expiry 4,395,000 $0.63 - $0.68 Nov 2019 - July 2021 Warrants: Exercise Price Expiry 7,169,975 $0.75 July 2012 - Sept 2012

2

Share Structure

• Michael Williams President & Director

• Robert McLeod P. Geo., CEO, VP Exploration & Director

• Carl Hering PhD., Director

• Tony Cange Director

• Darryl Cardey C.A., Director

Technical Team

• Jodie Gibson M.Sc. Senior Geologist

• Joey Wilkins B.Sc. Chief Geologist

• Cale Moodie CA CFO

Senior Management & Directors

3

Key Projects 2011/2012

4

The “Ring of Fire”

5

Cu-Mo-Au targets, SW Alaska

6

• Porphyry discovery with supergene enrichment

• Near surface mineralization

• Adjacent to tidewater, Native partnership

• All 5 holes hit significant mineralization in 2010

• 2011 Drill Program – 12 holes, extended mineralization in multiple directions and intersected highest grade to date

Pyramid Property: 49/51 FMM/Antofagasta

7

2010/11 Selected Drilling Highlights

Hole-ID From (m) To (m) Length (m) Cu % Au (g/t) Mo % Cu eq. %

PY10-01 32.3 499.9 467.6 0.27 0.05 0.019 0.43

PY10-02 4.6 356.6 352.1 0.34 0.07 0.008 0.45*

PY10-05 6.4 201.2 194.8 0.63 0.14 0.018 0.85*

PY11-07 6.0 110.0 104.0 0.56 0.13 0.009 0.72

Including 12.0 60.0 48.0 0.74 0.15 0.011 0.93

PY11-10 16.7 327.0 310.3 0.39 0.10 0.009 0.53*

PY11-16 94.0 249.9 155.9 0.71 0.18 0.018 0.97*

Including 226.0 246.0 20.0 0.99 0.15 0.012 1.19

PY11-17 44.0 161.5 117.5 0.60 0.08 0.024 0.81*

Including 93.0 136.0 43.0 0.77 0.09 0.026 1.00

8

* Hole ended in mineralization Copper equivalent % calculated using $2.00/lb Cu, $1,150/oz Au, and $12/lb Mo

9

Pyramid Property

Pyramid Property

10

Open

Open

Open

Pyramid Property

11

• Potential 2012 Pyramid exploration program with Antofagasta:

1. Confirm and expand the new high grade zone to the southeast

2. Test down-dip extensions

3. Expand the limits of known mineralization to the north and west

Full Metal Minerals: Pending Results

Full Metal Minerals: Moving forward…

17

Senior Management & Directors

14

• Michael Williams Chairman & Director

• Steve Hayes President & CEO

• Robert McLeod P. Geo., Director

• Aaron Keay Director

• Adrian Fleming Director

• Al Paterson Director

• Cale Moodie C.A., Director

14

New Management

15

New President and CEO – Steve Hayes

Mr. Hayes began his career with Noranda Sales Corporation, working in multiple commodity groups in a commercial capacity over the course of eight years. Thereafter, he joined Breakwater Resources, a mid tier zinc focused mining company. Over a 14-year career with Breakwater, Mr. Hayes was responsible for the company's marketing, purchasing and ultimately corporate development. Mr. Hayes left Breakwater in conjunction with its recent takeover by Nyrstar.

Symbol: TSX.V : FZ Shares Outstanding: 33,615,989 Fully Diluted: 44,685,974 Stock Options: Exercise Price Expiry 3,084,997 $0.185 - $0.265 November 2019 – July 2021 Warrants: Exercise Price Expiry 7,984,988 $0.22 - $0.35 July 2012 – July 2013

Share Structure

16 16

Zinc Usage

17 17

First Use

Oxides and Chemicals

Semi-Manufactured

Products

Die-casting Alloys

Brass

Galvanizing

Miscellaneous

End use

Industrial

Machinery

Consumer Products

Infrastructure

Transport

Construction

Zinc consumption highly correlates to industrial growth. 50% of zinc now used is in galvanizing, with 85% of demand derived from construction, infrastructure and transportation.

Source: Brook Hunt

Zinc Demand

18 18

Europe Japan North

America

Oceania Africa Latin

America

Asia (ex

Japan & China)

China

10% 12% 15%

21% 22% 24%

32%

47%

Growth in Global Zinc Demand 2010-

2015

Source: Brook Hunt

Zinc Market

19 19

• Zinc supply is constrained in the near-term by a depletion of large mines and a lack of similarly-sized and quality mines ready to replace them.

• New production coming on-line is associated with much

smaller mines with more limited mine life. This is not likely to improve the production efficiencies of an already fragmented industry.

• Mine supply-side bottlenecks appear inevitable in 2015 and beyond.

Zinc Market

20 20

• Significant mine closures such as Century (Australia) 500,000 t/y, Brunswick and Perseverance (Canada) 340,000 t/y and Lisheen (Ireland) 170,000 t/y with only moderate replacement from new openings will move the zinc market back into deficit by 2014/15.

• Xstrata estimates 1.9 Mt/y of zinc mine capacity will

close by 2016 and only 800,000 t/y of new projects brought on stream to replace the lost mine supply. Furthermore, Xstrata forecasts a supply gap of 7 Mt/y by 2020.

Zinc Market

21 21

-800000

-600000

-400000

-200000

0

200000

400000

600000

800000

1000000

Zinc Metal World Balance (t)

Source: CRU Group 2011

22

40 Mile Property: 100% Full Metal Zinc

22

23

40 Mile Property: Regional Potential

23

24

LWM: Kill Zone

24

*In Meters

Hole-ID From To Length Ag (g/t) Zn % Pb % Cu %

LWM06-01 30.2 42.3 12.1 110.9 15.7 4.0 0.32

Including… 35.7 42.3 6.6 200.8 27.0 7.2 0.56

LWM07-04 14.1 26.4 12.27 68.6 8.1 3.7 0.13

74.2 119 44.57 76.6 15.9 5.3 0.19

Including… 98.67 119 20.1 159.4 19.7 11.1 0.37

LWM07-05 52 60.5 8.5 105.3 12.3 8.0 0.08

Including… 55 57.5 2.5 340.0 21.0 26.1 0.59

LWM07-07 101.9 118 15.6 127.0 21.2 8.7 0.22

including:… 101.9 113 11.1 169.8 26.3 11.7 0.3

LWM07-09 211.5 218 6.5 464.2 31.6 11.3 1.41

LWM: Massive Sulphide Discovery

25 25

2012 & Beyond

26

• Continue exploration at the Fortymile project

• Evaluation of “brownfields” zinc opportunities

• Establish Full Metal Zinc as a company leveraged to the zinc market dynamics that suggest significant supply shortfalls moving forward