Frankfield Gold Project Corporate Presentation September 2010 www.gowestgold.com TSXV: GWA OTCBB: GWSAF
Forward Looking Statement 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 degrees of risk. 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 to mineral exploration, risks associated with development, the uncertainty of future profitability and the uncertainty of access to additional capital. TSX-V: GWA 2
Corporate Overview Listed TSX:V Symbol GWA 52-Week High/Low $0.40/$0.11 Recent share price $0.26 Shares Outstanding 83.2 million Warrants 26.2 million Options 5.9 million Shares Fully Diluted 115.3 million Average Daily Vol. 150,000 Cash $ 3 million Debt Nil Share Ownership: Management 12% Institutional 15% TSX-V: GWA 3 Market Capitalization $22 million Sept 22, 2010
Gowest Key Events & 18 Month Share Price Completes $6.5M financing Acquires 100% of Frankfield Gold Project Demonstrates mineral potential +1M oz TSX-V: GWA 4
Why Invest In Gowest? Experienced exploration and mine building management team Comprehensive development program in place (drilling, permitting, engineering) to leverage high gold price by advancing Frankfield project rapidly -- 2012 mine development target Current mineralized potential in excess of 1,000,000 ounces. Deposit drilled to 750m and remains open at depth. Current market cap reflects in situ value of only $43/oz based on previous 510,000 oz resource. Typical industry valuation: $85 - $135 per oz Three outstanding gold exploration targets in addition to the Frankfield East deposit Low Risk (jurisdiction, valuation, gold, proven management, quality secondary targets, highly prospective land package) Gowest is Significantly Undervalued!! TSX-V: GWA 5
Experienced Management Team Management Greg Romain, President & CEO Janet O Donnell, CFO Darren Koningen, VP Technical Services, P.Eng Randall Roussain, Project Coordinator Exploration Miguel Cardona, Technical Services Exploration Garth Wilcox, Project Manager, P.Eng Rory Quinn, Investor Relations Directors Fraser Elliott, Chairman Greg Romain Ewan Mason, Chair - Audit Committee Jeremy Niemi, Chair - Compensation Committee Advisory Group James Gill Ronald Bradshaw Tom Obradovich Richard Adams Greg Romain, President & CEO Overseen consolidation and transition at Gowest Involved in mineral processing industry for 20 years Most recently President & CEO of Canadian mining manufacturing company. Took the company public as an Income trust, then sold to a private equity group Darren Koningen, VP Technical Services P.Eng Professional Engineer ( Metallurgy) 16 years experience Most recently VP Project Development at Castle Gold Directed design, construction and commissioning of 2 operating gold mines in the past 4 years. Randall Roussain, Project Coordinator Exploration 35 Years working the Timmins Gold camp Involved with discovery at Bell Creek and Hoyle Pond Lead Geologist with early promotion and development of Kinross Jeremy Niemi, Director Currently VP Geology at Noront (13 years of geology experience) Previously Manager of technical services for Kinross Gold Started Career at Inco technical services Ewan Mason, Director & Chair of the Audit Committee Former head of investment banking at large Canadian sec. firm Has worked in the financial sector for 17 years Prior to finance was a geologist with a number of mining co s. TSX-V: GWA 6
Frankfield Property Gold Country Located on significant shear structure that appears to be offset from historic Porcupine- Destor fault system Highly prospective area located at junction of two fault systems including north-south structure that passes through Hoyle Pond TSX-V: GWA 7
Frankfield Gold Project Frankfield East Resource expansion drilling Texmont Zone 6.4m @ 10.2 g/t** 8.3m @ 6.8 g/t** 5.0m @ 8.1 g/t 2.1m @ 4.2 g/t** 1.8m @ 4.5 g/t** Historic data (not 43-101 compliant) / intervals are not true width TSX-V: GWA 8
Frankfield East Deposit Cross Section Deposit exhibits good vertical continuity 0m Dip of mineralisation is well suited for efficient underground mining techniques Ultramafic Contact A B 200m C Intersection Width (m) Grade (g/t Au) Main Zone Gold Mineralisation D A 2.4 15.6 B 2.2 10.6 C 6.95 2.3 400m E D 4.0 6.8 F2 E 3.0 5.5 F1 F1 10.7 8.0 F2 3.9 7.9 G 2.0 2.8 600m G (486500E section looking west) TSX-V: GWA 9
Frankfield East Gold Deposit Resource Expansion Potential Depth TSX-V: GWA 10
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Frankfield Gold Project 2010 Program Update current 43-101 Resource Q4 2010 Drilling program for resource expansion Q4 2010, Q1 2011 Target outline economic resource Phase 1 (Q1/2 2010) -- 10,000m focused on areas to the west and at depth from Frankfield east deposit Phase 2 (Q4 2010/Q1 2011) minimum 10,000m to further expand areas drilled in Phase 1 and also test similar geological contacts south of main known Frankfield structure 15,000m completed as of Q3 2010 Metallurgical Testwork (Phase 2) Q3/Q4 2010 Review of Greenfield/Brownfield Processing Site Opportunities 2010 Scoping study Q1 2011 Initiate baseline environmental study 2010 Evaluate similar metallurgical deposits with a view to grow regional resources 2010 TSX-V: GWA 12
Access to Custom Milling Frankfield Project 100km $40/oz trucking TSX-V: GWA 13
Frankfield East Gold Deposit Depth and Upside in Context Numerous gold mines are presently operating or being developed in the Timmins/Abitibi Gold district that are much deeper than the depths (750m) currently being drilled at Frankfield. Initial 43-101 Resource (+500koz) 0.4km Expanded mineral potential of +1 million ounces 0.7km 1km Goldcorp Hoyle Pond Mine - 1.5km Lake Shore Gold Rusk Horizon 1.7km 2km Kirkland Lake Gold Macassa Mine 2.2km TSX-V: GWA 14
Peer Comparison Targeted ounces & valuation Company Resource (oz) Price (C$) Mcap (C$) Mcap/oz Reserves M&I Inferred Total oz (000's) (C$) Lakeshore 812,000 165,000 750,000 1,727,000 3.73 1,403,400 812.62 San Gold 828,000 1,815,000 2,643,000 3.50 1,054,400 398.94 Rubicon 1,900,000 1,900,000 4.10 875,600 460.84 Queenston 636,000 577,000 1,213,000 4.29 292,400 241.06 Wesdome 188,000 573,000 595,000 1,356,000 2.84 286,300 211.14 Brigus* 1,330,000 90,000 702,000 2,122,000 1.54 216,600 102.07 VG Gold 600,000 600,000 0.42 76,500 127.50 Harte 300,000 100,000 400,000 0.45 58,700 146.75 Gowest 510,000 510,000 0.26 22,000 43.14 Brigus* (formerly Apollo Gold) resources do not include non-core mining assets TSX-V: GWA 15
Why Invest In Gowest? Experienced exploration and mine building management team Comprehensive development program in place (drilling, permitting, engineering) to leverage high gold price by advancing Frankfield project rapidly -- 2012 mine development target Current mineralized potential in excess of 1,000,000 ounces. Deposit drilled to 750m and remains open at depth. Current market cap reflects in situ value of only $43/oz based on previous 510,000 oz resource. Typical industry valuation: $85 - $135 per oz Three outstanding gold exploration targets in addition to the Frankfield East deposit Low Risk (jurisdiction, valuation, gold, proven management, quality secondary targets, highly prospective land package) Gowest is Significantly Undervalued!! TSX-V: GWA 16
Contact Information Gowest Amalgamated Resources Ltd. 80 Richmond Street West, Suite 1400 Toronto, Ontario M5H 2A4 TF 877.363.1218 T 416.363.1210 F 416.363.2959 Info@gowestgold.com www.gowestgold.com Greg Romain, President & CEO T 416.363.1210 gregr@gowestgold.com Rory Quinn, Investor Relations T 416.363.1210 ext.208 roryq@gowestgold.com TSX-V: GWA 17