Apollo Gold Mining Limited

1
Apollo Gold Mining Limited March 2003
An Emerging Gold Producer
2
The Assets

• 326 sq. km of land holding in the highly
  prospective Laverton Tectonic Zone
• Laverton Processing Plant capacity 1 Mtpa
• Resource 10.6 Mt _at_ 1.9 g/t 647,000 ounces
• In Pit Resource 1.6 Mt _at_ 2.3 g/t 117,000 oz

3
(No Transcript)
4
The Strategy

• Cash flow is a priority
• Sponsor Laverton Region Gold Alliance
• Leverage Ownership of Mill through JVs and Toll
  Processing Arrangements
• Growth by exploration success and increasing Mill
  throughput

5
The Apollo Mission

• Single Commodity Gold
• Single Region Laverton
• Single Focus Generate Cash

6
Short Term Goals

• Commence development drilling 10 March 2003
• Complete Project Verification Study - mid 2003
• Establish in-pit resources for 5 years of Gold
  Production _at_ 40,000-45,000 oz pa mid 2003
• Pour Gold within 12 months
• Commence deep drilling programme mid 2004

7
LTZ is Elephant Country !

• gt 23 million oz discovered in the region e.g.
  Granny Smith/Wallaby/Sunrise
• Under cover limited application of geophysics
  limited exploration since 1997
• Active exploration programme commenced for
  shallow targets and resource extensions
• JV negotiations have commenced with other gold
  companies in the region looking for major
  deposits
• Deep drilling to commence mid-2004

8
Potential Reserve 300-400,000 oz

• Existing Pits 117,000 oz 2.5 yrs
• Drilling outside Optimised Pits
• Immediate Targets
• Sunshine/Craiggiemore 20,000 oz 0.4 yrs
• Grouse/Vat/Scotland Yet 40,000 oz 0.8 yrs
• Admiral Hill 60,000 oz 1.3 yrs
• Burtville Blue Moon 60,000 oz 1.3 yrs
• Current Total Resource 10.56 mt_at_1.91 g/t for
  647,000 ozs

9
ADMIRAL HILL Target Zone
Further Drilling Required adjacent to Syenite
Intrusive

• 6 km strike
• 8 km N of plant
• Existing Resource 0.8 Mt _at_ 1.9 g/t

Potential Resource Extension
Poorly Tested Zone
10
(No Transcript)
11
BURTVILLE BLUE MOON PROJECT Section 4500N
12
Potential Mining Plan First 2½ Years

• Tonnes treated 1.6 million
• Grade - g/t 2.3
• Contained Ounces 117,000
• Recovery 92
• Recovered Ounces 108,000
• Throughput tonnes p.a 600,000
• Gold Produced oz p.a 40-45,000

13
Potential Gross Revenues First 2½ Years

• Gold Price A575
• Revenue A60-65 M
• Operating Costs A28/t A40-45 M
• Environment Rehab (net) A1 M
• Development Costs A4 -5M
• Net Surplus A9 -12 M
• EBITDA p.a A3 - 5 M
• Independent Geologist estimated costs at A28./t

14
The Future

• Project Verification Study completed mid-2003
• Gold Production to Start within 1 Year
• Self-funded Exploration after 1 Year
• Toll Treatment Capability
• Significant Exploration Upside

15
Summary

• Capitalisation A15 per ounce (US9)
• 40,000 ounces p.a. within 12 months
• No debt. Unhedged
• Prospectivity of LTZ (Sunrise, Wallaby )
• Potential 80,000 ounces p.a. within 2 years

16
PAYDIRTS GOLD CONFERENCE
Apollo Gold Mining Limited March 2003
An Emerging Gold Producer
By Dudley J Kingsnorth Chief Executive
OfficerEmail djk_at_apollogold.com.au