Certain information contained in this presentation constitutes forward looking information. This information may relate to future events or the Company’s future performance. All information other than information of historical fact is forward looking information. The use of any of the words “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe”, “predict” and “potential” and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this presentation should not be unduly relied upon. This information speaks only as of the date of this presentation. Such forward looking statements include, among other things, statements or information relating to: the Company’s New Liberty gold project in Liberia (the “New Liberty Gold Project”)(including the quantity and quality of mineral resource and mineral reserve estimates), the potential to upgrade inferred mineral resources, opportunities to optimize the New Liberty Gold Project, the ability of the Company to develop the New Liberty Gold Project into a mine and the proposed plans relating thereto regarding operations and mine design, estimates relating to tonnage, grades, waste ratios, recovery rates and future gold production, life-of-mine estimates, assay results, gravity concentration test results, expectations regarding throughput gold production, mill treatment and plant feed, estimates of capital and operating costs and start-up costs, anticipated sources of funding, expectations regarding staffing requirements and the engagement of external contractors, estimates of revenues and pay-back periods, estimates of net present values and internal rates of return, expectations regarding operating parameters, plans regarding optimization work (including the timing thereof), construction activities, power supply and infrastructure development, plans regarding relocations, community development and water management, transportation methods, plans regarding the diversion of the Marvoe Creek, the proposed budget for the work program at the New Liberty Gold Project, asset retirement obligations and decommissioning requirements, plans for further exploration work, including drilling and metallurgical test work, expectations regarding the potential direct and indirect environmental and socio-economic impacts of the New Liberty Project, as well as the other forecasts, estimates and expectations relating to the New Liberty Gold Project included in this presentation; the future market price of commodities; strategic plans; production targets; timetables; the continued listing of the common shares of the Company on the Toronto Stock Exchange (the “TSX”) and the AIM market operated by the London Stock Exchange (“AIM”); financing plans and alternatives; proposed plans and exploration activities on the Company’s other target areas (including the proximal targets of Weaju, Ndablama, Leopard Rock, Gondoja, Yambesei, Archean West, Mabong and Mafa West) and the timing related thereto; and targets, goals, objectives and plans associated therewith; the Company’s expectation that all licences/permits will be able to be obtained, when required and the Company’s intentions regarding employee training. With respect to forward looking information contained in this presentation, assumptions have been made regarding, among other things: general business, economic and mining industry conditions; interest rates and foreign exchange rates; mineral resource and reserve estimates; geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources and reserves) and cost estimates on which the mineral resource and reserve estimates are based; the parameters and assumptions employed in the technical report dated July 3, 2013 and entitled “New Liberty Gold Project, Liberia, West Africa, Updated Technical Report” (the “New Liberty Technical Report”), (including but not limited to, those relating to construction, future mining and operating costs, processing and recovery rates, net present values and internal rates of return, timing for the commencement of production, tax and royalty rates, future gold prices, metallurgical rates, pit design, operations and management, grades, the base case analysis and the proposed budget for further exploration plans and objectives); the supply and demand for commodities and precious and base metals and the level and volatility of the prices of gold; market competition; the ability of the Company to raise sufficient funds from capital markets and/or debt to meet its future obligations and planned activities; the business of the Company including the continued exploration of its properties; the political environments and legal and regulatory frameworks in Liberia and Cameroon with respect to, among other things, the ability of the Company to obtain, maintain, renew and/or extend required permits, licences, authorizations and/or approvals from the appropriate regulatory authorities and the ability of the Company to continue to obtain qualified staff and equipment in a timely and cost-efficient manner to meet its demand. Actual results could differ materially from those anticipated in the forward looking information contained in this presentation as a result of the risk factors, including: risks normally incidental to exploration and development of mineral properties; the inability of the Company to obtain required financing when needs and/or on acceptable terms or at all; risks related to operating in West Africa; health risks associated with the mining workforce in West Africa; risks related to the Company’s title to its mineral properties; adverse changes in commodity prices; risks related to current global financial conditions; risks that the Company’s exploration for and development of mineral deposits may not be successful; risks normally incidental to exploration and development of mineral properties; the inability of the Company to obtain, maintain, renew and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory authorities and other risks relating to the legal and regulatory frameworks in Liberia and Cameroon, including adverse changes in applicable laws; competitive conditions in the mineral exploration and mining industry; risks related to obtaining insurance or adequate levels of insurance for the Company’s operations; uncertainty of mineral resource and reserve estimates; the inability of the Company to delineate additional mineral resources; risks related to environmental regulations; uncertainties in the interpretation of results from drilling; uncertainties in the estimates and assumptions used, and risks in the methodologies employed, in the New Liberty Technical Report and that the completion of additional work at the New Liberty Gold Project could result in changes to the forecasts, estimates and expectations contained in the New Liberty Technical Report; risks related to the legal systems in Liberia and Cameroon; risks related to the tax residency of the Company; the possibility that future exploration, development or mining results will not be consistent with expectations; delays in construction; inflation; changes in exchange and interest rates; risks related to the activities of artisanal miners; actions of third parties that the Company is reliant upon; lack of availability at a reasonable cost or at all, of plants, equipment or labour; the inability to attract and retain key management and personnel; political risks; the inability to enforce judgments against the Company’s directors and officers; and future unforeseen liabilities and other factors. Information relating to “resources” and “reserves” is deemed to be forward looking information as it involves the implied assessment based on certain estimates and assumptions that the resource and reserves can be profitable in the future. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. By their nature, mineral resource and reserve estimates are imprecise and depend, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such mineral resource estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company. Accordingly, investors should not place undue reliance on forward looking information. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty that may be attached to inferred mineral resources, it cannot be assumed that all or any part of an inferred mineral resource will be upgraded to an indicated or measured mineral resource as a result of continued exploration. The forward looking information included in this presentation is expressly qualified by this cautionary statement and is made as of the date of this presentation. The Company does not undertake any obligation to publicly update or revise any forward looking information except as required by applicable securities laws.

New Liberty, Liberia

• The most advanced gold mine under construction in West Africa – 1st gold pour due Q1 2015

High Grade Open Pit Low Cost Operation

• High grade reserve of 8.5m tonnes at 3.4 g/t

• All in Sustaining Cash Costs US$850/oz

• Free cash (after debt repayment) of US$206m at US$1,250/oz gold

Fully Financed Through To Production and Beyond

• Plant construction on track c. 60% complete

• Pre-strip mining commenced August 2014

• Poised for a developer to producer valuation re-rating

Significant Exploration Potential

• 1,470km2 exploration portfolio on major gold bearing structures

• Potential for a second project at Ndablama

Catalysts

• Q4 2014 – Ndablama upgraded resource estimate and PEA

• Q1 2015 – First gold pour at New Liberty

3

0

2000

4000

6000

8000

10000

12000

0

5

10

15

20

25

30

35

40

45

50

Sep13 Nov13 Jan14 Mar14 May14 Jul14 Sep14

Volu

me (0

00

)

Price (G

Bp)

Daily Volume (RHS) Price (LHS)

4

Capitalisation Summary at September 01, 2014

AIM / TSX Ticker AUE LN / CN

Shares in Issue 310.6

Warrants 40.1

Options 15.0

Fully Diluted 350.7

Market Cap US$ 120million

Balance Sheet at June 30, 2014 (in millions)

Cash US$ 48.61

Debt US$ 54.0

1Does not include US$11m IFC investment completed in July 2014

Share Price – Last Twelve Months

Source: Bloomberg

Major Shareholders

BlackRock 9.7% Baker Steel 5.6%

IFC 7.9% Genesis 4.9%

Blakeney 7.2% GCIC 3.9%

Mackenzie 7.0% Macquarie 3.2%

RBC AM 6.3% Investec 3.0%

JP Morgan 5.7% Wells Capital 2.5%

• No reported or suspected cases of Ebola to date across our operations or in close proximity to anywhere the Company operates

• Construction at New Liberty continues with key contractors and staff remaining on site

• Established and implemented precautionary measures and contingency plans to ensure the Company, its employees, contractors and visitors are not placed under unnecessary risks including;

5

– Enhanced security and access controls to our operations

– Daily temperature screening for all employees and contractors

– Heightened medical provisions & assistance at the New Liberty medical clinic

– Travel restrictions for employees and contractors

– No non-essential staff or visitors on site

– Education and collaboration with employees, local villages and village elders

6

New Liberty is the only gold mine under construction in West Africa

7

Tarmac Road from Monrovia to Sierra Leone

New Laterite Road (20km)

Ball Mill En Route To New Liberty Via Tarmac Road from Monrovia to Sierra Leone

8

• CapEx of US$152 million*

• First gold pour on track for March 2015

• 8 year mine life on current reserves

• Average annual production of c.120Koz for first 6 years

• Plant throughput of 1.1 Mtpa

• Conventional Gravity & CIL processing (93% Recovery)

• LOM production of 859Koz

• All in Sustaining Cash Cost of US$850/oz**

*DFS capex of US$150 million, including US$14 million contingency plus US$2 million additional contingency post bank technical due diligence

**World Gold Council definition

Classification Tonnes Gold (g/t) Gold (koz)

Proven 700,000 4.4 99

Probable 7,800,000 3.3 825

Total Reserve 8,500,000 3.4 924

LOM Production and Grade

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

0

20

40

60

80

100

120

140

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8Production + Inferred (koz) Production (koz) - LHS

Head Grade (g/t) - RHS Head Grade + Inferred (g/t)

Larjor Latiff

Kinjor Marvoe

Stage 3

Stage 2

Stage 1

Stage 4

Stage 5

Stage 6

9

E

W

50

0m

Pit Design

Total Tonnes (Mt) 140

Ore Tonnes (Mt) 8.5

Waste Tonnes (Mt) 132

Ore Grade (g/t) 3.38

Strip Ratio 15.4

Contained Au (koz) 924

Recovered Au (koz) 859

10

• Aureus have partnered with MonuRent to engage in owner mining with a fleet rental agreement

• MonuRent has purchased and will maintain a new mining fleet, matched to the mining schedule

• Dozers, Excavators and ADTs are already operational and working on the top soil removal and pre-strip mining

• Four 100 tonne dump trucks and one 120 tonne excavator are due for delivery to site in early October

• MonuRent guarantees fleet availability at a minimum of 85%

• Mining cost of US$3.01 per tonne, priced on a detailed bottom up basis

MonuRent Excavators Commencing Top Soil Removal and Pre-Strip Mining

11

• Final mine schedule and mine plan due for completion in November 2014

• Currently assessing options for two concurrent starter pits

• Optimise haul profiles and ramp designs

• Maintain haul road surfaces to a high standard to focus on tyre life in wet conditions

• Improving equipment utilisation by practicing ‘hot seat changeover’ and 12 hour shifts

• Maximise productivity by matching truck allocation to shovels and minimising idle times

• Minimise equipment damage by using experienced operator trainers and supervisors

• Optimise drilling patterns and blast designs (fragmentation)

• Minimise ore dilution and avoid ore loss (RC Drilling in progress)

• Manage Drainage – using experienced dewatering crews

W

E

2 Km

12

• 60% of EPCM mine build completed and on budget

Milestone Completion Date Status

Commenced Marvoe Creek Diversion Channel Excavations, Process Plant Bush Clearing, TSF Bush Clearing, RAP Village Bush Clearing.

December 2012

Plant Earthworks Complete September 2013

First Concrete Pour October 2013

Bush Clearing Completed November 2013

Civil Works Commenced December 2013

Steel Work Erection Commenced, Store and Workshop Civil Work Commenced

February 2014

Ball Mill Foundations Poured March 2014

CIL Tank Bases Completed April 2014

Upgrade Work on Daniels Town Road Completed May 2014

Steel Work Erection for Primary Crusher, Screening & Gold Room Commenced

May 2014

Ball Mill Arrives at New Liberty June 2014

All families successfully relocated to New Kinjor Township August 2014 13

14

0% 20% 40% 60% 80% 100%

Process Plant Commissioning & First Gold Pour

Ball Mill Fabrication & Transportation to Site

Process Plant Steel Erection

CIL Tank Bases and Erection

Process Plant Civil Construction

Camp David Accommodation Construction

Upgrade Work on Daniels Town Road

TSF Dam Wall Construction

TSF Bush Clearing

MCDC Dam 1 & 2 Construction

MCDC Spillway Construction

Project Earthworks

0%

100%

50%

38%

60%

98%

100%

98%

100%

82%

89%

95%

Completion

EPCM Contract 60% Complete*

* As at August 20th 2014

Q2 2014

Ball Mill Arrives on

Site

Complete MCDC Dam Walls and Spillway

Q3 2014

Complete TSF Dam Walls

Commence Pre-Strip &

Grade Control Drilling

Q1 2015

Start Open Pit Mining

Operations

Plant Commissioning

First Gold Pour

Q2 2015

Ramp up process plant

Achieve Steady State

Production

15

Q4 2014

Complete Mill Installation

Complete Plant Civil

Construction

Complete Kinjor Village Relocation

• Cash:

– 30th June 2014 Balance Sheet of US$48.6 million1

• Funding:

– US$15 million private placement closed in April 2014

– Drawn down US$60 million from US$100 million project debt facility

– US$11 million IFC investment completed July2014

• Fully funded beyond production:

– Approximately US$85 million expended on Project CapEx to date

– Required equity spend on Project CapEx has been fully contributed

– Debt facilities to fund all remaining Project CapEx

– Existing cash and recent investment proceeds available for non-CapEx activities

1Does not include US$11m IFC investment completed in July 2014

16

Revenues - US$1.1 billion

• Average 120,000 oz. p.a. for first 6 years for a total LoM of 859,000 oz at US$1,250 per oz over 8 year LoM

Low cash costs

• US$850/oz. all in sustaining cash costs*

Cash Flow

• Generates free cash over 8 year LoM after debt repayment and interest of;

– US$206 million @ US$1,250 / oz

– US$300 million @ US$1,400 / oz

* World Gold Council definition

17

Ball Mill On Site At New Liberty

18

• All families have been successfully relocated to New Kinjor Township

• Old village site has been cleared allowing the pre-strip to commence

• The community is 100% involved the completion of the the New Kinjor Township housing

• 318 permanent houses, 265 temporary houses

• Houses and land will be owned by the local community

• Township includes a community centre, market, mosque, church, school buildings, police station, water-wells and ablution facilities

• Hydraform brick making machines will be handed over to a community cooperative

RAP Village – New Housing Units

19

New Liberty M&I 9,796 1,143 3.6 1.0

New Liberty Inferred 5,730 593 3.2 1.0

Ndablama Inferred 6,829 451 2.1 0.5

Weaju Inferred 2,680 178 2.1 1.0

A

B

E

W

2km

500m

20

Resource:

• Measured: 651,000t at 4.8 g/t (for 100,000 ounces)1

• Indicated: 9,145,000t at 3.6 g/t (for 1,043,000 ounces)1

• Total M & I: 1.14 Moz at 3.63g/t;

• Inferred: 5,730,000t at 3.2 g/t (for 593,000 ounces)1

Note 1: Resource Cut off grade = 1.0 g/t, Reserve reported at a cut-off grade of 0.8g/t Au and ore grading between 0.8 & 1.0 g/t cut-off is stockpiled for processing towards the end of the mine life

Note 2: A dilution skin of 0.5m added and minimum width of 2.5m applied

Note 3: A gold price of US$ 1,300 was used for pit optimisation

21

¹• Holes drilled to test the down dip extension of the mineralised shoots have intersected good grades at depths of up to 500m

• Inferred resources below the pit floor have the potential for being mined through underground methods

22

23

Magnetics RTP 1VD Radiometrics Total Count

Yilgarn Block, Western Australia, Magnetics

Kanowna Belle

Kalgoorlie

Paddington

Lady Bountiful

Kundana East

Banduli

Broad Arrow

24

¹

¹• Soil geochemistry, radiometrics and geophysics defines 13km gold corridor

• Reconnaissance drilling and trenching confirms in-situ bedrock mineralisation

• Maiden resource defined at Ndablama Central, mineralisation remains open

25

¹

25

• Pressure shadow zone extends over 5km between Ndablama North and Leopard Rock South

• Ndablama Phase 1-3 drilling program completed for 54 drill holes (c.8,300m)

• Inferred Resource of 451Koz grading 2.1g/t calculated from Phases 1-3 drilling

• Metallurgical test work returned overall recoveries of c.94%.

• 70% recovery though gravity processes

• Further drilling undertaken at Leopard Rock confirms mineralisation continuity to the South

• Trenching at Ndablama North also intersected mineralisation and will be drill tested in 2015

1,3

00

m

26

• Phase 4 drilling programme completed for 100 holes (61 x DDH: 13,000m, 39 x RC: 5,800m)

• Results announced from 51 holes (11,200m) with results pending for 49 holes (7,600m)

• RC drilling targeted the infill areas between previously drilled holes

• Diamond holes tested down dip & strike extensions

• Latest results extend the continuity of the mineralisation

• Resource upgrade underway, expected completion due early Q4 2014

• Preliminary Economic Assessment expected end of Q4 2014

27

¹1

40

m

12

0m

28

Gondoja

Gbalidee

Koinja

Koinja

Gondoja

Gbalidee

Ndablama

• SZ geological mapping

• Koinja, Gbalidee and

Gondoja detailed mapping

and interpretation

• Target drilling (next season)

Trench:

22 m @ 3.4 g/t

Trenches:

6 m @ 2.2 g/t

18 m @ 0.9 g/t

Trenches:

7 m @ 13.1 g/t

38 m @ 1.2 g/t

DDH:

30 m @ 3.9 g/t

3 m @ 14.8 g/t

4.3 m @ 3.6 g/t

29

¹

• 1470km2 contiguous licence portfolio

• Shear Zones represent extensive conceptual targets extending for an overall 150 km over the licence area

• Regional mapping has highlighted new targets, mainly Welinkua, Diabobo and Mabong

• Current BLEG coverage on new licenses to deliver stream anomalies to generate targets

20 km

Mabong License

Archaen West License

Yambesei License

Mafa West License Archean

Gold

Diabobo

Welinkua

29

30

1,000

1,200

1,400

1,600

1,800

2,000

April 2011 August 2011 December 2011 April 2012 August 2012 December 2012 April 2013 August 2013 December 2013 April 2014

Gold

Price U

S$/

oz

Listed on TSX & AIM

Raised US$40m

First Drawdown on US$100m project finance

facilities

Rasied US$26m

M&I Resource

increased to 2.4Moz @

2.9g/t

Resource of 1.7Moz @

3.6g/t declared

Raised US$80m

from equity offering

DFS Completed

Reserves of 924koz @

3.4g/t declared

US$100m debt financing

& credit approval secured

Raised US$16m

from equity offering

New Liberty Feasibility

Study completed

Maiden Reserve of 873Koz @

3.1g/t declared

Feasibility drilling

completed

13Km gold corridor outlined

Earthworks & early

construction commence

on site

RAP & CDP approved for New Liberty

Nedbank & RMB

mandated for project financing

Mill foundations completed & steel work

commenced

31

BFS DFS FS PFS PEA Stage of Project:

New Liberty (Aureus, 2013) Karma

(True Gold, 2014)

Singuida (Shanta, 2011)

Tri-K (Avocet, 2013)

Banfora (Gryphon, 2013)

Obotan (Asanko, 2012)

Hounde (Endeavour, 2013)

Esaase (Asanko, 2013) Fekola

(Papillion, 2013)

Kiaka (B2Gold, 2012)

Banfora (Gryphon, 2014)

Bombore (Orezone, 2014)

Dugbe (Hummingbird, 2013)

Natougou (Orbis, 2013)

Yaoure (Amara, 2014)

Bombore (Orezone, 2011)

Yanfolila (Hummingbird, 2014)

0

100

200

300

400

500

600

700

0.0 1.0 2.0 3.0 4.0 5.0 6.0

Pro

ject CapEx

(US$m

)

Average Gold Grade Mined (g/t)

32

• The only fully financed gold project under construction in West Africa

• First gold pour due Q1 2015

• Project provides real investment value

• Undervalued relative to other fully financed developers

• Sufficient cash resources available post construction

• Project fully derisked following BFS + bank due diligence

• Project endorsed by the lending banks, IFC, shareholders and Government of Liberia

• Further upside around New Liberty and resource expansion underway at Ndablama New Liberty Plant Site Overview

Thank you

www.aureus-mining.com

34

New Liberty Plant Site

35

Ball Mill & Vertimill Foundations

36

Ball Mill Arrival at New Liberty

37

Rom Tip & Primary Crushing Structure

Stockpile Tunnel

38

Tailings Storage Facility

39

MCDC Spillway Marvoe Creek Diversion Channel Re-vegetation

40

Camp David Mine Personnel Accommodation Camp David Mine Personnel Accommodation

41

Completed RAP Houses

RAP Village – New School Buildings

Debar Allen– General Manager - Monrovia

• MBA & 17 years experience with US based companies; managed private construction company since returning to Liberia in 2003

• Vice Chairman of the Board of Directors for the Liberian Maritime Authority

David Reading – CEO and Director

• 35 years experience in global mining: exploration, feasibility, project development and production

• Former CEO, European Goldfields. Former GM Exploration, RRL. MSc Econ. Geology

David Netherway – Chairman and Director

• Mining engineer with >35 years of experience. Former CEO of Shield Mining

• Involved in development & construction of Iduapriem, Siguiri & Kiniero gold mines in West Africa

Adrian Reynolds – Non-executive Director

• At RRL, compiled feasibility studies at Morila, Loulo and Tongon gold mines in West Africa

• 30 years experience in the industry. MSc Geology & GDE in Mining Engineering

Luis da Silva – Non-executive Director

• CEO of GB Minerals. Former CEO of Afferro Mining & of African Aura pre split. Continuity with New Liberty

• Graduate Mining Engineer and MBA. Extensive international experience with Lafarge & Blue Circle

Loudon Owen – Non-executive Director

• Successful international business man and lawyer, founder of McLean Watson Capital

• Extensive public and private company board experience, including Kilo Gold Mines

Jean-Guy Martin – Non-executive Director

• Extensive experience advising multinationals looking to complete acquisitions & divestitures

• 35 years experience financial reporting. Former partner of PwC Canada

42

Thinus Strydom – GM Construction & Mine Operation

• Mining engineer with >16 years of experience in the design, construction, development & operation of mines

• Experience includes key roles at Loulo for RRL and at Bisha for Nevsun Resources

Paul Thomson – CFO

• Chartered Accountant with 20 years global experience in the energy and mining industries

• Formerly with Ernst & Young and Kazakhmys PLC

Germain Crestin – VP Exploration

• 20 years experience for RRL in Burkina Faso & Mali, European Goldfields & Eldorado in Turkey, Greece & SE Europe.

• Chief Geologist in Mali when 7Moz Yalea gold deposit was discovered

43

Deposit Category Tonnage (Kt)

Gold (Koz)

Grade (g/t)

Above Cut-Off (g/t)

New Liberty M&I 9,796 1,143 3.6 1.0

New Liberty Inferred 5,730 593 3.2 1.0

Ndablama Inferred 6,829 451 2.1 0.5

Weaju Inferred 2,680 178 2.1 1.0

Deposit Category Tonnage (Kt)

Gold (Koz)

Grade (g/t)

Above Cut-Off (g/t)

New Liberty Proven 700 99 4.4 0.8

New Liberty Probable 7,800 825 3.3 0.8

New Liberty Total Reserve 8,500 924 3.4 0.8

Mineral Resources

Mineral Reserves

Note 1: Mineral Resources for the New Liberty & Weaju deposits are reported to a cut-off grade of 1.0 g/t Au. The Ndablama deposit is reported at a cut-off grade of 0.5 g/t Au Note 2: The effective date of the Ndablama & Weaju gold deposits mineral resource estimates is 11 November 2013. Note 3: The effective date of the New Liberty gold deposit mineral resource estimate is 1 October 2012 and the mineral reserve estimate is 20 May 2013. Note 4: Canadian Institute or Mining, Metallurgy and Petroleum (CIM) definitions were used for both mineral resources and reserves Note 5: Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Note 6: Totals and average grades are subject to rounding to the appropriate precision

44

0

10

20

30

40

50

60

-

1

2

3

4

5

6

7

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8

Conatined G

old

(Koz)

Min

ed T

onnes (M

t)

Material Movement by Stage & AU Oz Mined

LATKIN STAGE1 LATKIN STAGE2 LARJOR STAGE3 LATKIN STAGE4 MARVOE STAGE6 MARVOE STAGE5 CONTAINED GOLD

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Oct-12

Dec-1

2

Feb-1

3

Apr-

13

Jun-1

3

Aug-1

3

Oct-13

Dec-1

3

Feb-1

4

Apr-

14

Jun-1

4

Aug-1

4

Oct-14

Dec-1

4

Feb-1

5

Apr-

15

Jun-1

5

Aug-1

5

Overall Progress Status date - 15 August 2014

Current Date First Gold Actual Early Start Curve Late Start Curve

1st Gold Target - 31 March 2015

45

• First Gensets arrived and commissioned on site

• Mining fleet supply and maintenance contracted

• Mining fleet currently mobilising to site

• Ball mill on site and currently being installed

46