Going for Gold

1
Going for Gold
August 2006
2
The People

• Executive management team
• Mark Jones - Chief Executive, Aurum Mining Plc
• A mining engineer from the Camborne School of
  Mines, Mark is a professional General Manager
  with over 25 years experience in Mining and
  associated businesses including explosives and
  heavy industrial equipment manufacturing
• Oleg Kim General Director, Andash Mining
  Company Ltd
• A graduate of the Moscow Geological-Prospecting
  Institute and post-graduate from Central Asian
  Institute of Geology and Mineral Resources
  (Tashkent, Uzbekistan), Oleg is a professional
  Manager with over 20 years experience in
  Exploration and Mining, and former Chief
  Geologist at Kumtor
• David Bryans, Consultant (Tyry Services)
• A Former General Director of SVMC (JV with
  Celtic Resources Holdings plc), David has 16
  years experience in the assessment of mining
  projects in the FSU

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• The Board
• Sean Finlay, Chairman
• 30 years in the mining industry, extensive Board
  experience, former Chief Executive of Celtic
  Resources Holdings Plc
• Mark Jones, Chief Executive
• Haresh Kanabar, Executive Director
• Certified accountant, broad business experience
  including CEO of Blue Star Capital, Chairman of
  India Outsourcing Services and Greenfield
  Construction
• John Webster, Non Executive Director
• 25 years mining experience, 12 years in the FSU.
  Including executive positions with Far East Gold,
  Nelson Gold and J D Welsh and Associates
• Colin Knight, Non Executive Director
• Dr Knights formidable international mining
  experience has been gained through almost five
  decades in the industry and spans academia,
  executive industry roles and consultancy.

4
The Strategy

• Key focus on bringing the Andash project into
  production at 2m tpa, providing opportunities for
  investors to see positive cash flows in early
  2008
• Increase the level of exploration within the
  licence area to increase the resource
• Look at opportunities where we can capitalise on
  our significant regional strength
• Longer term goal of complimentary investment
• Focus on deposits that are little known and at an
  advanced stage of exploration
• A clear formula for success

5
Managing for Success

• Strong Local Team
• Business Process and Protocol
• Language and Culture
• Working with Government Departments and Agencies
• Trust

6
Managing for Success

• Understanding the Political Issues
• Assume inherent instability
• Work below the radar screen
• Influence Government quietly
• Management of information
• Gain acceptance
• Work within the process
• Seek Guidance
• Dr Shirin Akiner. SOAS, University of London
• FAST International Updates. Swisspeace
• Be seen to be professional

7
Managing for Success

• Social Responsibility
• Part of our culture
• Provide Opportunity
• Investment in Human Capital
• Investment in Local Infrastructure
• Build Solid Foundations Start early
• NGOs

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Andash
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Mining In The Kyrgyz Republic

• Geology dominated by Northern Tien Shan
  structural domain
• Tien Shan gold belt one of worlds largest gold
  trends
• Gold and strategic minerals mined in Soviet era
• Largest gold exporter is Kumtor, controlled by
  Centerra Gold. Annual production in excess of
  600 000 ozs

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Andash Overview

• 50 sq km exploration licence in the Talas Valley
• Three ore bodies identified zone 1 well
  explored, zone's 2 3 show extensive
  mineralisation
• Four further targets identified by mineralogical
  analysis and geophysical exploration.
• Zone 1 C1 / C2 reserves of 21.7m tonnes of ore
  containing 23.8t of Au (800 000 oz) and 22.1t of
  Au equivalent (750 000 oz), entered onto Kyrgyz
  State Reserves in August 2005
• Local feasibility study completed at the end of
  May.
• Awaiting Mining Licence

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The Resource

• In June 2005 Wardell Armstrong International
  generated a digital resource estimate for Zone 1

Using 1t Cu 12.6oz Au
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Exploration Opportunity

• Zones 2 and 3
• NKGE estimate for
• Zone 2 5.5m tonnes _at_1.68 g/t
• Zone 3 3.4m tonnes _at_1.12 g/t
• Additional targets
• Possible faulted extension to Zone1
• 4 additional targets discovered through
  geophysics

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Market Capitalisation potential ?

• Using current measured and indicated JORC gold
  equivalent resource of 0.9m oz and current market
  cap (21m) the Market Capitalisation per oz for
  Aurum Mining is
• 24/oz
• Adding in our inferred resources, which the
  latest drilling should upgrade to measured and
  indicated, Aurum is valued at
• 14/oz

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Aurum is being valued as an early stage
exploration play
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Aim Gold Explorers
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Mine development stages
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M I Resource rating for AIM listed developers
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Value of resources in the ground
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Robust Project

• Au / Cu porphyry
• Simple geology
• No deleterious minerals
• Low stripping ratio
• High production rates
• Close to infrastructure
• Clean metallurgy, simple flow sheet
• Robust project
• Change cut off grade to 1g/t reduces resource by
  only 25

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Project timeline

• Local feasibility study May 2006
• Exploration drilling programme
• on Zones 23 June 2006
• Exploration programme
• on new targets July 2006
• Updated resource estimate August 2006
• Western feasibility study December 2006
• Project financing February 2006
• Project commencement April 2007
• Plant commissioning H1 - 2008
• Full production H2 - 2008

Short time to production
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Summary

• High quality management team with solid FSU
  experience
• Significant asset at Andash with production
  planned in 2008
• We need to complete the feasibility study and
  increase the resource through further exploration
  of known opportunities

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Appendix Contact Details
Aurum Mining plc 1st Floor 26 Curzon
Street Mayfair London W1J 7TQ Tel [phone]
9050 Fax [phone] Email
mark.jones_at_aurummining.net Website
www.aurummining.net