Overview

Energizer Resources Inc. (TSX:EGZ ^[1],OTCBB:ENZR,FBW:YE5), is an exploration company focused on the exploration and development of its primary project, the Green Giant Vanadium Property in Madagascar. The Company's National Instrument ("NI") 43-101 compliant resource places this project as one of the world's largest 100% owned vanadium properties. Energizer is the only company actively targeting vanadium pentoxide suitable for emerging battery technologies. On February 25, 2011, Energizer announced the closing of a non-brokered private placement of US$13,921,495. The Company has initiated a Preliminary Economic Assessment on the project with results expected in Q3 2011.

Investment Highlights

• One of the largest 100% owned vanadium discoveries in the world
• The only company targeting a battery-grade, high-purity vanadium pentoxide (V2O5)
• NI 43-101 compliant resource estimate of 49.5 M tonnes indicated at an average grade of 0.693% V2O5 and 9.7 M tonnes inferred at an average grade 0.632% V2O5

Chief Properties

The Green Giant Vanadium Project, Madagascar

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Energizer Resources acquired the Green Giant Vanadium property located in Madagascar in August 2007.  Since that time, Energizer has spent more that U.S.$10 million on exploration and development of the property.  These efforts have resulted in the discovery of one of the largest known Vanadium deposits in the world with excellent expansion potential.  The company has confirmed a 21-kilometre (18-mile) long continuous, mineralized vanadium trend.  Its current resource estimate comes from only drilling 25% of the trend, with 75% of it remaining open for drilling.

Energizer's deposit is unique from other known Vanadium deposits - Energizer's Green Giant Vanadium is sediment-hosted, and not magnetite-hosted like the majority of other known Vanadium deposits.  As a result, Energizer expects its vanadium to be processed differently than the magnetite-hosted deposits. Specifically, it expects to utilize a well-established process called alkaline pressure leaching to process their vanadium and expects to naturally produce a battery-grade form of V2O5 (98.4% minimum in purity) directly from its process.  Advanced metallurgical test work is ongoing at SGS Lakefield to optimize the process flow sheet.  The final results are to be included in the preliminary economic assessment (+/- 30%) expected in the third quarter of 2011. In March of this year, Energizer submitted an application to graduate to the TSX from its current listing on the TSX Venture Exchange. A decision is expected by the end of May 2011.

In January 2011, Energizer released an updated NI 43-101 for the Green Giant property. The report indicated a resource estimate of 49.5 million tonnes at an average grade of 0.693% V2O5 containing 756.3 million pounds of V2O5 and an inferred resource of 9.7 million tonnes at an average grade of 0.632% V2O5 containing 134.5 million pounds of V205. With 890 million pounds of V2O5 in situ, this is a very large deposit, with significant expansion possibilities.

To learn more about the demand for vanadium in emerging battery technologies, as well as the traditional steel applications please visit the Co ^[3]mpany website. ^[3]

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Management

Kirk McKinnon - CEO & Chairman, Director

J.A. Kirk McKinnon has served as Chief Executive Officer and a director since April 2006. He brings over 25 years of senior management experience to the Company. Mr. McKinnon is currently President and CEO of MacDonald Mines Exploration Ltd. and Red Pine Exploration Inc., both of which are resource exploration companies headquartered in Toronto, Canada. Previously, Mr. McKinnon held senior management positions with several high profile Canadian corporations, including Nestle Canada.

Julie Lee Harrs - President & COO, Director

Julie Lee Harrs was appointed to the position of President and Chief Operating Officer and to the Board of Directors in September 2009. Ms. Lee Harrs brings extensive international mining experience to the Company. Most recently, she was Senior Vice President, General Counsel and Corporate Secretary of Sherritt International Corporation, previous to which she was Associate General Counsel and Assistant Secretary of Inco Limited (now Vale Inco). Before joining these mining companies, Ms. Lee Harrs was a corporate lawyer with Blakes, a national law firm. Ms. Lee Harrs has worked on mining projects in Canada, New Caledonia, Cuba and Madagascar.

Richard Schler - Vice President & CFO, Director

Richard E. Schler, MBA, has been the Company's Vice President, Chief Financial Officer and a director since April 2006. He is also currently serving as Vice President and Chief Financial Officer of both MacDonald Mines Exploration Ltd., Honey Badger Exploration and Red Pine Exploration Inc., all of which are resource exploration companies headquartered in Toronto, Canada. Before joining these companies, Mr. Schler held various senior management positions with noted corporations. He also has over 25 years of experience in the manufacturing sector.

Craig Scherba - Vice President of Exploration, Director

Craig Scherba, P.Geo., was appointed a Director and V.P. of Exploration for the Company effective January 1, 2010. Mr. Scherba was instrumental in the discovery of the Green Giant Vanadium deposit in Madagascar and has been closely involved with the project since its inception.

Brent Nykoliation - Vice President - Business Development

Brent Nykoliation, BCom, has served as V.P of Business Development for over 5 years and brings significant skills and experience to the Company. With a career that has spanned 15 years in various senior management roles in Marketing and Business Development (Nestle), and Merchandising (Home Depot and Whirlpool Corporation), Brent is well positioned to market Energizer Resources' exploration initiatives.

Peter Liabotis - Vice President - Finance

Mr. Liabotis is a Canadian Chartered Accountant with over 13 years of post-qualification experience, having qualified in Ontario during 1997. Mr. Liabotis articled for both KPMG in Mississauga, Ontario where he audited mainly retail and manufacturing organizations and PriceWaterhouseCoopers in Hamilton, Bermuda where he audited investment funds, insurance companies and local retail clients. From 1998 to 2008, Mr. Liabotis worked for Olympia Capital, a hedge fund administrator where he served as Senior Vice President - Chief Financial Officer. Upon returning to Canada in July 2008, he was employed first as a consultant and then as a salaried employee for EFG Canada.

Jacob McKinnon - Vice President - Operations

Over the last 6 years, Mr. McKinnon has been exposed to all levels of the mining industry which has given him the necessary experience to take on the role as director of Operations. He is currently the VP of Operations for three TSX Venture Exchange listed companies: MacDonald Mines Exploration Ltd., Red Pine Exploration Inc. and Honey Badger Exploration Inc.

Joseph Heng, CA - Controller

Joseph Heng is a Chartered Accountant with over 36 years of industry experience in public accounting.

Key Advisors

The Hon. Brian V. Tobin, P.C., ICD.D  - Chairman, Special Advisory Committee

Mr. Tobin served as the Federal Minister of Industry from 2000 to 2002. Previously he served as the Premier of Newfoundland and Labrador from 1996 to 2000 and won two consecutive majority governments in provincial elections.  Mr. Tobin is currently senior business advisor with Fraser Milner Casgrain LLP in Toronto, and serves on several public and private company boards, including Consolidated Thompson Iron Ore as their Executive Chairman and acting CEO and President.

V. Peter Harder, LL.D., M.A - Director and member of Special Advisory Committee

Mr. Harder is a former long serving Deputy Minister in a number of departments including the Department of Foreign Affairs. In 2007, Mr. Harder joined Fraser Milner Casgrain LLP as Senior Policy Advisor in Ottawa, and  serves on the board of directors of a number of high profile Canadian companies, including Power Financial Corporation. Mr. Harder also serves as President of the Canada-China Business Council.

Anthony G. Toldo - Special Advisory Committee

President of KS Centoco Ltd. and a number of its related corporations comprising the Toldo Group, Mr. Toldo brings considerable experience, relationships and expertise to the committee. The Toldo Group is based in Windsor, Ontario and is composed of several privately held corporations that manufacture and operate in diversified sectors including automotive, quick serve restaurant, aviation, and gaming and entertainment industries. Mr. Toldo has also served as a director on several boards, including not for profit and publicly traded organizations.