VMS Ventures Inc. is exploring for copper deposits in Manitoba, Canada. It has discovered the Reed Copper Deposit through a joint venture with Hudbay Minerals. A preliminary economic assessment estimates the deposit contains over 2.5 million tonnes of 4.52% copper. VMS also holds additional exploration targets in the region through option agreements with Hudbay. The Flin Flon-Snow Lake belt where VMS is exploring is a prolific volcanogenic massive sulfide mining camp that has produced over 180 million tonnes of base and precious metals from various mines over the past 80 years.

1. Discovering High Grade Copper Deposits
in Manitoba, Canada
VMS:TSX.V
Explorer to Producer
NAN: TSX.V
The World’s Next Nickel Belt
March, 2012

2. FORWARD-LOOKING
STATEMENTS
NOTE:
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and uncertainties.
Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the
Company are forward-looking statements that involve various risks. The
following are important factors that could cause the Company’s actual
results to differ materially from those expressed or implied by such
forward-looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty of
access to additional capital. There can be no assurance that forward-looking
statements will prove to be accurate as actual results and future
events may differ materially from those anticipated in such statements.
VMS Ventures Inc. undertakes no obligation to update such forward-looking
statements if circumstances or management’s estimates or opinions
should change. The reader is cautioned not to place undue reliance on
such forward-looking statements.

3. Discovering High Grade Copper Deposits
in Manitoba, Canada
 Introduction to VMS Ventures Inc.
 HudBay Minerals JV and 4 Option Agreements
• Reed Copper Deposit
• Preliminary Economic Assessment
• Additional targets…expanding resource
 Flin Flon – Snow Lake Belt - a World Class VMS
Camp
 2011 Highlights/2012 Plan
 North American Nickel – 45% VMS ownership

4. VMS VENTURES INC.
VMS - TSX.V QUICK FACTS
 Well funded junior with approximately
$11.2M in the treasury.
 Discovered the copper rich Reed Copper
deposit in Manitoba in 2007.
• JV Partner HudBay Minerals (T.HBM) is
project operator; VMS costs carried to
production. Project ownership is 70% HBM
& 30% VMS.
Reed Copper deposit PEA announced in
December 2011. Indicated Resource:
CAPITAL STRUCTURE 2.55M Tonnes of 4.52% Cu, 0.64 g/t Au,
(as at March, 2012) 7.86 g/t Ag
Issued & Outstanding: 128,968,399  Large, highly prospective land package in
Warrants: 163,333 the prolific Flin Flon – Snow Lake
Options: 10,183,850
Greenstone Belt of Manitoba
Fully Diluted: 139,315,582
 VMS owns ~45% of North American Nickel

5. VMS VENTURES – HUDBAY JV &
OPTIONS PROJECTS
VMS-HudBay JV
• 30-70 joint venture, VMS
carried to production.
• Hudbay is operator.
• NI 43-101 Geological
Resourced April, 2011
• PEA announced
December, 2011
4 Option Agreements
• HudBay is operator.
• $2.6 M in cumulative
expenditures to earn 70%.
• Upon discovery VMS is
carried on first $50 million
of expenditures.
• Cumulative $2.8 M paid to
VMS in July, 2010.
2011 HIGHLIGHTS
43-101 indicated resource estimate completed (30% VMS)
Super Zone discovered (30% VMS)
Cowan River Zone discovered (100% VMS)

6. NI 43-101 INDICATED / INFERRED
GEOLOGICAL RESOURCE
Category Tonnes Au (g/t) Flin Flon(%) Zn (%)
Ag (g/t) Cu 115 km Au (oz) Ag (oz) Cu (lbs) Zn (lbs)
Indicated 2,555,000 0.64 7.86 4.52 0.91 57,674 708,303 254,069,200 51,151,100
Inferred 170,000 0.38 4.55 4.26 0.52 2,278 27,281 15,932,400 1,944,800
Snow Lake 75 km
Sectional View
Planview

7. REED COPPER DEPOSIT - PEA
Preliminary Economic Assessment – Announced December, 2011
• Approximate daily ore production of 1,300 tonnes at Reed is expected by late 2013,
subject to receipt of required permits.
• Average expected production grades of 3.78% copper, 0.45 g/t gold and 5.77 g/t silver.
• Assumed metal recoveries in HudBay’s Flin Flon Concentrator of 94% copper, 58% gold
and 62% silver.
• Average production in concentrate of approximately 17,000 tonnes per year of copper
metal.
• Total operating costs estimated to average approximately $91 per tonne milled ($67 per
tonne mining, $16 per tonne milling and $8 per tonne administration) over a five year
mine life.
• Sustaining capital expenditures are expected to total approximately $55 million over the
five year mine life.

8. REED COPPER DEPOSIT - PEA
The high grade nature of the Reed Copper deposit gives the project substantial
leverage to copper prices. The following table outlines a copper price sensitivity
analysis based on the operating parameters set out in the PEA.
PEA 3 Year Historical
Base Case (1) Average Price Case (2) Cu = $3.50/lb USD (3)
Price and Exchange Averages
Copper (USS/lb) $2.78 $3.20 $3.50
Gold (US$/oz) $1,059.00 $1,235.00 $1,235.00
Silver (US$/oz) $21.14 $22.85 $22.85
US$/CDN$ 0.92 0.94 0.92
Pre-tax
Cash Flow $112,283,000 $182,975,000 $257,028,000
NPV 8% $64,917,000 $109,904,000 $174,365,000
IRR 36.70% 46.60% 61.40%
(1) PEA Base Case metal prices projections compiled by HudBay based on 11 well-known financial
institutions.
(2) Bloomberg three year historical average (December 1, 2008 to December 1,
2011)
(3) $3.50 copper price for perspective on valuation impact of copper price

9. MORE MINERALIZATION AT
REED LAKE??
VMS-HudBay JV
• Borehole Pulse
Electromagnetic targets
indicate the deposit is open
at depth
• Large BHPEM plates exist
between the Reed Copper
Deposit and the historical
Highway zone – UNTESTED!!
• Winter 2012 drill target.
Open down plunge

10. REED NORTH DISCOVERY
Multi-lenses, 2011 discovery with limited drilling
RLE006 – 7.18m, 7.44% Cu, 0.23% Zn, 0.48 g/t Au, 7.57 g/t Ag
RLE021 – 3.95m, 9.31% Cu, 1.87% Zn, 3.59 g/t Au, 35.53 g/t Ag
BHPEM Plates
Open Down
Untested BHPEM Plunge
Plates
Longitudinal View, Looking North Cross Sectional View, Looking West

11. ORE BODIES TEND TO GROW IN
THE FLIN FLON BELT
After K. Gilmore (Hudbay Minerals), 2007

12. FLIN FLON GREENSTONE BELT
A WORLD CLASS VMS CAMP
MAP AREA
• Largest Proterozoic VMS
District in the world.
• Most prolific greenstone
SNOW LAKE BELT belt in Canada in terms
of $ value of
production/km2.
• Continuous production
Lalor Lake for past 80 years
(Hudbay) • 183 million tonnes from
27 mines.
• VMS mines/deposits rich
in copper, zinc, gold and
silver.
• Deposits typically occur
Reed Lake in clusters.
(VMS Ventures Inc.) • Gold mines/deposits
throughout belt.

13. VTEM COVERAGE OVER
VMS VENTURES’ PROJECTS
• Many recent
discoveries,
including VMS’s
Reed Lake
Deposit, were
made with VTEM
• VMS Ventures
has flown over
17,000 line-km of
VTEM over its
projects, majority
flown at 100 m
line spacing.
• 5 years and $13
million in work –
Targets ready to
drill.

14. DISCOVERY PROGRESSION
• Early discoveries were
made by prospecting.
• Recent discoveries
made through a
combination of
geological and
geophysical work in the
exposed portion of the
belt.
• VMS now employs
state of the art airborne
geophysics and high
powered, Time-Domain
Electromagnetic
surveys (surface and
borehole) to look
deeper, under the
Phanerozoic cover to
refine the targeting of
drill holes on
mineralized zones. After K. Gilmore (Hudbay Minerals), 2009

15. 2011 HIGHLIGHTS
HudBay JV Option Properties
• NI 43-101 resource at Reed Copper deposit; PEA on Reed Copper deposit
• Reed North Discovery (Super Zone property)
• 7.44% Copper over 7.18 metres discovered in hole RLE006
• 5.94% Copper over 2.23 metres discovered in hole RLE007
• New targets on JV and option ground
VMS 100% Owned Properties
• Drilled 13,128 metres in 41 holes
• Flew 4,648 km of VTEM surveys
• 87 km of TDEM surveys
• Cowan River Copper Zone
• 9.81% Copper over 1.37 metres within 6.59 metres of 2.25% Copper
• 32 km TDEM Grid recently completed
• Sails Lake
• 3D Induced Polarization Integrated with trench mapping and channel
sampling at Sails Lake gold showing

16. 2012 PLAN
HudBay JV Option Properties
• 4,000 m of drilling on JV
• 4,000 m of drilling on optioned properties
• 50 line km of TDEM
VMS 100% Owned Properties
Manitoba Projects
• Morton, Puella Bay, Cowan River and McClarty projects scheduled for diamond
drilling in Q1
Sudbury Projects
• Golden Pine, Black Creek & Terra Incognita scheduled for prospecting/trenching
in Q2, auger drilling and diamond drilling in Q3
North American Nickel
• TEM Surveys and drilling in 2012

17. NORTH AMERICAN NICKEL INC.
VMS owns ~45% of
North American
Nickel.
 Dr. Mark Fedikow,
President and
COO.
 Camp-scale land
position in the
emerging Maniitsoq
Nickel Belt,
Greenland
 Major projects
situated in
Thompson and
Sudbury, the two
most productive
mining camps in
the world class
Circum-Superior
Nickel Belt.
TSX.V: NAN

18. MANIITSOQ PROJECT, GREENLAND
Maniitsoq
(looking east)
100% interest in a giant mineral
exploration licence covering 4,983 km2
covering the highly prospective, but
underexplored Maniitsoq Nickel Belt.
Located on year-round, ice free tide
water on the southwest coast of
Greenland, near the village of
Maniitsoq.

19. THE MANIITSOQ NICKEL BELT
- PLENTY OF ROOM FOR WORLD CLASS
DEPOSIT(S)
Belt is arcuate shaped, 75
km long by 15 km wide
and characterised by
nickel-bearing noritic
intrusions.
Numerous significant
nickel showings with
consistently high nickel
tenor.
Voisey’s Bay Deposit
at map scale.
Plan view of the Voisey’s Bay intrusion (from Eckstrand & Hulbert, 2007)2007
From Eckstrand & Hulbert,

20. MANIITSOQ PROJECT
2011 SKYTEM RESULTS
Helicopter EM and
magnetic surveys by
NAN in 2011 over two
small areas (totaling
only 8% of the project
area) successfully
delineated new targets.
Additional helicopter
EM surveys and drilling
planned for 2012.
Historical Work
Almost all showings
were discovered in the
1960’s and early 70’s.
Average hole length
less than 50 meters.

21. 3D EM Modeling Target B1-J
TARGET B1-J (IMIAK HILL): 3D VIEW LOOKING WEST • 170 m long by 16 m wide conductor that comes to
surface and is directly coincident with the Imiak Hill
showing.
• The model shows that the mineralization strikes parallel
to most of the historical drilling and therefore has not
been properly tested.
• The model has very limited dip extent (21 m) but the best
intersection on the showing (9.85 m averaging 2.67% Ni
9.85m @ 2.67% Ni, 0.60% Cu
and 0.60% Cu) occurs 130 m below surface indicating
that strong mineralization at surface is masking the EM
FOOTWALL response from mineralization at depth.
CONTACT
OF NORITE
9.85m @ 2.67% Ni, 0.60% Cu
Slide 21

22. 3D EM Modeling Target B1-B
• 700 m long, near
Target B1-B surface conductive
zone.
• No previous drilling.
• Characteristics and
orientation of the
Interpreted conductor vary
Norite considerably along
strike suggesting it is
not formational.
• Magnetic data suggests
that it is hosted in a
large (2.5 x 1.0 km)
norite body.
Slide 22

23. 3D EM Modeling Target B1-L
TARGET B1-L (SPOTTY HILL): 3D VIEW LOOKING NORTH • Modeled as a 330 x 100 m
flat-lying conductor located
160 m below surface within a
norite intrusion.
~ 160 m BELOW SURFACE
(i.e. 100 m BENEATH
• The conductor is untested but
PREVIOUS DRILLING) past shallow drilling 100 m
above intersected weakly
disseminated, nickeliferous
sulphides grading up to
0.52% Ni and 0.26% Cu over
12.94 m.
• Clearly, mineralizing
processes were at work in the
intrusion as indicated by the
disseminated near-surface
mineralization and the most
logical location to look for
massive sulphides is at
depth.
Slide 23