An ASX listed Perth-based gold explorer focused on Ghana in West Africa Africa Down Under Conference August 2012 www.vikingashanti.com
Disclaimer and Competent Person s Statement This presentation has been prepared by Viking Ashanti Limited ( hereafter referred to as Viking Ashanti). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and although Viking Ashanti has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Viking Ashanti. Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Viking Ashanti. In particular, they speak only as of the date of this document, they assume the success of Viking Ashanti's strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements. Viking Ashanti makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Viking Ashanti and its officers, employees, related bodies corporate and agents (Agents) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Viking Ashanti and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. The information in this Public Report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Peter McMickan, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr McMickan is a full time employee of Viking Ashanti Limited. Mr McMickan has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that 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 McMickan consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. All amounts are in Australian dollars ($) unless stated otherwise. 2
Introduction Viking Ashanti Ltd listed in 2010 to develop its advanced gold projects in Ghana, West Africa. Two project areas in the Ashanti Gold Belt - West Star/Blue River and Akoase. 704,000 oz Inferred JORC resource (April 2012) at Akoase. Resolute Mining retains its 33% stake following recently completed 1:4 rights issue. 3
Investment Highlights Recently identified near surface higher grade zone at Akoase (best intercept 31m @ 7.84 g/t Au, incl. 16m @ 10.82 g/t Au) transforms potential to expand 700,000 oz resource. New exploration targets identified based on strong soil anomalies at both Akoase and West Star/Blue River. Clearly defined exploration programs going forward. Highly experienced management team with long track record of exploration and mining development in West Africa. 4
Corporate Information ASX: VKA (listed May 2010) Share Price (27 Aug 2012) $0.10 Shares Outstanding 81,850,580* Market Capitalisation Trading Range (12 month) Cash Debt ~$8m $0.064 to $0.165 ~$1.8m Nil Major Shareholders Resolute Mining Ltd 33% Directors 17% Australian HNW and UK/Europe specialist funds 50% *Post August 2012 rights issue of 12,683,915 shares 5
Ghana Good as Gold Politically and socially stable Excellent mining infrastructure and services 25 year successful track record of modern mining 3Moz Au production in 2011 and increasing, ranks #2 in Africa and #9 in world 6
Project locations in southern Ghana Strategic land position within highly prospective Ashanti Gold Belt Close to roads, power, water, workforce Major mining projects nearby 7
Akoase East April 2012 Updated Resource Inferred JORC resource: 18.0 Mt @ 1.2 g/t Au for 704,000 oz Au No historical or artisanal mining 21,000m of drilling over 3.5 km strike Outcrops at surface, ~30% oxide Free milling expect 85-95% recovery Multiple, steeply dipping zones 8
Akoase East Updated Resource Resource open at depth and to northeast Only drilled to ~120m below surface 9
Akoase East Potential extensions Higher grade zone at Alimac, open to NE and at depth Two soil geochem trends to test, adjacent to resource 1,200m target zone identified from broad spaced drilling at Andy Hills 10
Akoase Exploration upside Soil geochemistry defines nine new targets related to parallel faults ~6 strike km of 11 strike km Kadewaso structural corridor tested by drilling to date Infill soil sampling planned 11
Project Location West Star/Blue River 60km south of Tarkwa Adjoins Endeavour s Nzema mine 17 strike km of Salman Shear zone to explore 12
West Star and Blue River projects Only 4 strike km of Salman shear zone drill tested so far Numerous intersections in RC drilling on broad spaced lines Results from recent 1,800m drilling at Blue River highlights Salman shear zone prospectivity 13
West Star project new drill targets Soil geochemistry and drilling highlights prospectivity of Salman Shear Zone Multiple >200 ppb Au anomalies over 14 strike km Reconnaissance RC drilling on new priority targets planned 14
Planned Program 2012-13 Akoase resource growth target >1 mill oz Min 2,000m RC and 1,000m diamond drilling planned in next three months Infill soil sampling and first drilling on new geochemical targets at Akoase Commence systematic drilling of new multiple geochemical targets at West Star/Blue River 15
Summary New Akoase resource 700,000 oz and growing New targets for drilling identified at Akoase Pathway to production at Akoase emerging New multiple drill targets at West Star/Blue River Contacts: web: email: www.vikingashanti.com info@vikingashanti.com 16