For personal use only. Drilling at Torrecillas July 2011

Transcription

1 Drilling at Torrecillas July 2011 Mundo Mineracao Ltda - Overview Presentation December

2 Disclaimer & Forward-Looking Statements Competent Person s Statement The information in this report that relates to Exploration Results and Mineral Resources is based on information reviewed by Mr Daniel Saunders who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Saunders is employed by BMGS Perth Pty Ltd, who act as consulting geologists to Minera Gold Limited. Mr Saunders has sufficient experience which is relevant to the style of mineralisation and the type of deposits 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 Saunders consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. JORC Exploration Targets It is common practice for a company to comment on and discuss its exploration in terms of target size and type. The information in this presentation relating to exploration targets should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. Hence the terms Resource(s) or Reserve(s) have not been used in this context. The potential quantity and grade is conceptual in nature, since there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in the determination of a Mineral Resource. In accordance with Clause 18 of the JORC Code, it is important to note that no JORC Mineral Resources or Ore Reserves have been established on these tenements and any current assessment remains subject to ongoing exploration work and drilling. The current interpretation remains preliminary and is based on surface indicators, assays from underground channel samples, geological modelling, historical production records (in the case of Jaqueira and Torrecillas) and an assessment of the strike and width assessed from surface expressions. Forward-Looking Statements The document(document) is provided on the basis that none of Minera Gold Limited ACN (MIZ) nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to the origin, validity, accuracy, reliability, relevance, currency or completeness of the material contained in the Document and no responsibility is taken for any errors or omissions. Nothing contained in the Document is, or may be relied upon as, a promise, representation or warranty, whether as to the past or the future. MIZ excludes all warranties (including implied warranties) and all liability that can be excluded by law for any loss, claim, damage, cost or expense of any nature arising out of that Document (or any accompanying or other information) whatsoever, nor by reason of any reliance upon it. MIZ accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this Document or any other information made available to a person nor any obligation to furnish the person with any further information. The Document may contain prospective financial material which is predictive in nature and based on certain assumptions. Accordingly, actual financial results may be affected by assumptions which prove to be inaccurate or by known or unknown risks and uncertainties, and are likely to differ, possibly materially, from results ultimately achieved. The Document may contain "forward-looking statements". All statements other than those of historical facts included in the Document are forward-looking statements including, without limitation, (i) estimates of future earnings, and the sensitivity of earnings to the gold and other metals prices; (ii) estimates of future gold and other metals production and sales; (iii) estimates of future cash costs; (iv) estimates of future cash flows, and the sensitivity of cash flows to gold and other metals prices; (v) estimates of future capital expenditures; and (vi) estimates of reserves, and statements regarding future exploration results and the replacement of reserves. Where MIZ expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade, recovery rates or other matters from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. MIZ does not undertake any obligation to release publicly any revisions to any "forward-looking statement" to reflect events or circumstances after the date of the Document, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should seek appropriate professional advice in reviewing or considering the Document and all other information with respect to MIZ and evaluating the business, financial performance and operations of MIZ. Neither the provision of the Document nor any information contained in the Document or subsequently communicated to any person in connection with the Document is, or should be taken as, constituting the giving of investment or financial product advice to any person in respect of dealing in MIZ securities, and no such information should be taken to constitute a recommendation or statement of opinion that is intended to influence a person in making a decision to deal in MIZ securities. This Document does not purport to contain all of the information that may be required to evaluate all of the factors that would be relevant in determining whether to deal in MIZ securities, including but not limited to any person's objectives, financial situation or needs. Each person should make, and will be taken to have made, its own investigation, assessment and analysis of the information in this Document and other matters that may be relevant to it in considering whether to deal in MIZ securities. 2

3 Brazil 3

4 Overview of Mundo Mineracao Ltda 100% owned subsidiary of Minera Gold Ltd with independent management team. Currently in Brazilian Equivalent of Chapter 11 Protection to protect the assets and the investment made to date. Stay period ends on 3 May 13. ~$50M invested in Brazil to date. Material assets include: the processing plant and mobile plant at Engenho Gold Project (scrap value $6M); Crista - 24k oz JORC reserve (1) in small open pit ($17.5M NPV at US$1650 gold price); Olhos - an advanced open pit exploration target 600m south of Crista with an Exploration Target of 3-4g/t Au for 60-70,000oz to 70 metres (2); and Tocantins - a 51% interest in JV covering a very strategic land package in Northern Brazil with Anglo Gold Ashanti and IAM Gold. Material change occurred in August 2012 when the Ganderal National Park boundaries were formalised -100% of the Engenho concession and Crista were excluded from the park. Permitting of Crista finalised on 17 December 2012 a key milestone to negotiating the financial restructure of Mundo Mineracao Ltda.. Local management now focused on the financial restructure of the operations. (1) See page 8 for details (2) see disclaimer on page 2 4

5 Engenho Project Focus on Open Pit Potential Multiple potential open pits across 711ha tenement Short haul distances to existing processing plant - 700TPD Development and mining of the Crista pit now approved ~24koz JORC Probable Reserve (1) Initial exploration drilling in the concession package following funding resolution to focus on Olhos (additional open pit exploration target) & the Crista pit (1) See page 8 for full details of this JORC reserve 5

6 Crista Approvals Timeline Gandarela National Park proposal announced Nov 2010 Now resolved! Resolution of final Park boundary and its impact on defined on August 2012 Scenario 1 = 500m exclusion zone Scenario 2 = 2km exclusion zone All of Mundo Mineracao Ltda s Engenho gold project is outside of the park boundaries. Final approval for development of the high-grade Crista open pit received on 17 December

7 Short Term Vision option of 2 open pit ore sources Crista - Approval - Road/Pre Strip - Mining - Drilling for UG - UG Study/Design Olhos - Drilling - Pit Study/Design - Pre Strip - Mining 7

8 Crista A New Ore Production Centre New high-grade open pit now able to be developed on securing of development funding and recommissioning of the existing mill. Budgeted cash operating costs for the project of US$700/oz at current exchange rates. JORC Probable Reserve of 174, g/t for 23,414oz (1g/t cutoff and US$1,250 gold price) Deposit drilled to only 75m depth Exploration of deeper potential to occur once mining is underway. Stage 1 exploration drilling program will focus on the down dip potential of the ore body down to ~ 250m depth. 8

9 Crista A New Ore Production Centre Priority zone 9

10 Crista A New Ore Production Centre Underground drilling target Pre-strip and haul road construction will be completed within 75 days of approval Ore will be stockpiled prior to haul road being completed. Strategies continue to be developed to focus mining initially on high grade portions of the orebody outcropping Pit will be mined in 12 months vs. original plan of 22 months 10

11 Crista Re-rating Imminent 20g/t gossan 11 11

12 Road Construction Plan is to start construction of the road from PIT to Waste Dump (1.2 km) and from Pit to Plant (3.0 km) at the same time. Priority will be given on the PIT to Waste Dump road in order to start pre-striping of the PIT. The construction will take 3 months and it will cost approximately R$2M (US$1M). This type of contract is based on equipment unit prices. It is still under negotiation among suppliers however pricing is competitive at the moment. Estimated construction time is 3 months factoring in some rain delays. 12

13 Proposed 4.2km Haul Road Waste Dump Crista Target Metallurgical Plant & Engenho Mine Tailings Dam 13

14 Olhos Another Pit in the Making Located 900m north of Engenho, 600m south of Crista Defined by auger drilling and surface exploration over 440m strike length Exploration Target of 3-4g/t Au for 60-70,000oz to 70 metres (open pit only. Refer to page 2 for disclaimer) Phase 1 drilling planned for 2013 comprising 4,250m of drilling Drilling includes 5 x 280m diamond holes to test the deeper potential Subject to exploration success, mining of this project will be assessed as an open pit operation

15 Processing Plant & Lab Current capacity 275,000tpa - $25M Investment to date Historically fed solely from underground 22,000t/mth Tailings dam upgrade completed at a cost of A$2.7M 15

16 Exploration Potential Tocantins, Brazil Large-scale gold exploration project in central Brazil in JV with IAMGOLD and AngloGold Ashanti Initial expenditure commitments completed for 51% interest with a right to earn 80% equity. Minimum resource size for Feasibility Study of 350,000oz Au New 5,800 tpd plant in feasibility Ni / PGM Au / Cu Project includes 4 priority drill targets for commodities including gold, copper, nickel, PGM and Iron Ore. Au / Fe Au Minimal in the ground work completed since

17 Building a mid-tier gold producer Drilling at Torrecillas July 2011 Contact: Ashley Pattison, Managing Director and CEO Suite 1800, 580 Madison Avenue II, New York, Tel: