Slide 1 Annual General Meeting 8 November 2010
Slide 2 INVESTMENT HIGHLIGHTS Boddington South Gold Project Located within the Southwest Yilgarn region of Western Australia Gold mineralisation similar to Newmont s 26 million oz Boddington Gold Mine Current JORC-compliant gold resource of 241,800 ounces Potential to significantly increase Ausgold s gold resource Existing resource drilling limited to 30 metres below ground surface 14 occurrences of gold mineralisation discovered along strike of current ore bodies Over 100 kilometres of previously unmapped Archaean greenstones identified Mining leases granted Revised resource estimate scheduled for release in May 2011
Slide 3 BODDINGTON SOUTH GOLD PROJECT Location Easy Access Less than 2 hours drive from Perth All-weather roads across project area Public airport nearby Mild climate allows year-round mining & exploration Established Infrastructure Connected to main electricity grid Water available from nearby bore fields Reliable mobile phone & email coverage Close to regional service centres
Slide 4 BODDINGTON SOUTH GOLD PROJECT History and Opportunity Southwest Yilgarn has historically experienced sporadic exploration Region overlooked despite hosting Australia s largest gold mine (Newmont s Boddington Gold Mine - 26 million ounces of gold & 1.3 million tonnes of contained copper) 1,2 Potential repetitions of Boddington-style mineralisation recognised by Ausgold Identified, and subsequently pegged, over 100 kilometres of previously unmapped Archaean greenstones within this underexplored province Targeting high-grade gold mineralisation hosted in the fresh bedrock (previous exploration of project area limited to low-grade oxide mineralisation) 1 Department of Mines and Petroleum, Investment Opportunity Gold, September 2009 2 Department of Mines and Petroleum, Investment Opportunity Copper, March 2010
Slide 5 BODDINGTON SOUTH GOLD PROJECT Gold Mineralisation Gold deposited along granite / mafic contact Parallel mineralisation on both sides of 15km long granite intrusion High-grade (>8 g/t Au) core up to 10m thick that increases at depth Elevation of ground surface is 360 metres above sea level
Slide 6 BODDINGTON SOUTH GOLD PROJECT Defined Gold Resource RESOURCE TONNES GRADE OUNCES JACKSON Inferred Resource 306,000 1.15 11,300 LONE TREE Inferred Resource 555,000 0.79 14,100 WHITE DAM Inferred Resource 338,000 0.79 8,600 DINGO Indicated Resource 300,500 1.42 8,600 (1.0 g/t cut off) Inferred Resource 1,635,300 0.74 38,900 JINKAS Measured Resource 51,300 5.92 8,600 (4.0 g/t cut off) Indicated Resource 28,400 2.00 11,300 (1.0 g/t cut off) Inferred Resource 3,410,300 1.27 139,200 SUMMARY TONNES GRADE OUNCES Measured Resource 51,300 5.92 9,800 Indicated Resource 328,900 1.47 19,900 Inferred Resource 6,244,600 1.06 212,100 TOTAL RESOURCE 6,624,800 1.12 241,800 (Ausgold is earning an 80% interest of this resource; see Ausgold s ASX Announcement dated 10 August 2010)
Slide 7 BODDINGTON SOUTH GOLD PROJECT Resource Development Existing resource drilling limited to only 30m below ground surface Program designed to extend the depth of resource drilling to 100m 24,000m RC drill program in progress targeting 6 ore bodies 16 holes (~1,600m) completed to date First assays due early December Revised JORC resource estimate scheduled for release in May 2011
Slide 8 BODDINGTON SOUTH GOLD PROJECT Near-mine exploration Gold mineralisation and anomalism recorded along entire length of the granite 27,000m air core drill program designed to delineate additional gold resources along strike of known deposits Drill targets include Datatine Prospect 4m @ 15.6 g/t Au from previous drilling Fraser Prospect 4m @ 2.1 g/t Au from historic drilling Drilling scheduled to commence in early 2011
Slide 9 BODDINGTON SOUTH GOLD PROJECT Regional exploration Large soil anomalies previous recorded by Geological Survey of WA Armstrong Prospect (7km long gold-in-soil anomaly) Hudson Prospect (3km long gold-in-soil anomaly) Extensive strike length of Archaean greenstone units recently mapped within project Reconnaissance air core drilling program scheduled to commence in early 2011
Slide 10 10 PIPELINE OF PROSPECTIVE EXPLORATION PROJECTS Project Pipeline
Slide 11 YAMARNA PROJECT (copper-nickel) 370km NE of Kalgoorlie Airborne electromagnetic survey identified 18 bedrock conductors Intersected copper & nickel mineralisation during initial RC drilling Downhole electromagnetics identified additional targets Ground electromagnetic survey in progress 5,000m RC drill program commencing in January
Slide 12 DOOLGUNNA STATION PROJECT (copper-gold) Adjacent to Sandfire Resources DeGrussa copper-gold project Jenkins Fault controls DeGrussa mineralisation 5 kilometres of Jenkins Fault within Ausgold s project area Recently completed gravity survey over Jenkins Fault Deep RC drilling scheduled for early 2011
Slide 13 CORPORATE INFORMATION CAPITAL STRUCTURE ISSUED SHARE CAPITAL OPTIONS ($0.20, 31 March 2013) 90.1 million (55.5 million tradeable) 90.0 million (55.5 million tradeable) CASH A$6.5 million (30 September 2010) CURRENT SHARE PRICE A$0.46 (5 November 2010) MARKET CAPITALISATION approx. A$41 million BOARD OF DIRECTORS ROBERT PETT BENJAMIN BELL SIMON TREVISAN CHRISTOPHER KELSALL Chairman CEO Executive Director Non Executive Director
Slide 14 SUMMARY & OUTLOOK Ausgold was formed to discover new gold and copper deposits within Australia s emerging mineral provinces Dominant landholding within prospective but under-explored Southwest Yilgarn (region hosting Newmont s 26 million oz Boddington Gold Mine) Current JORC resource of 241,800 oz gold with strong upside for additional resources 20,000m resource development drilling in progress targeting high-grade primary ore zones of >8g/t Au within fresh bedrock Revised resource estimate scheduled for release in May 2011 Continuing systematic exploration of additional prospective projects including Yamarna where Ausgold recently intersected copper and nickel mineralisation (2.4% Cu and 1% Ni)
Slide 15 DISCLAIMER Competent Person s Statement The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Benjamin Bell, who is a Member of the Australian Institute of Geoscientists. Mr Bell is the Chief Executive Officer and a full-time employee of Ausgold Limited, and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Bell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Forward-Looking Statements This presentation has been prepared by Ausgold Limited and contains background information about Ausgold Limited current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. This presentation is for information purposes only. Neither this presentation nor the information in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares. This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular persons. Recipients should seek professional advice when deciding if an investment is appropriate. All securities transactions involve risk, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Ausgold Limited and its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statement, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risk, uncertainties and assumptions that are outside the control of Ausgold Limited. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Subject to any continuing obligations under the applicable law and ASX Listing Rules, Ausgold Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation of any changes in events, conditions or circumstances on which any such forward-looking statement is based.
Slide 16 Registered office: Level 14, Parmelia House 191 St George s Terrace Perth WA 6000 +61 8 9424 9300 Contact Details: ASX Code: AUC Contact: Benjamin Bell Email: bbell@ausgoldlimited.com www.ausgoldlimited.com