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Executive Presentation April 2009. Slide 2 first mover gold explorer This document may contain certain "forward–looking statements", including, but not.

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Presentation on theme: "Executive Presentation April 2009. Slide 2 first mover gold explorer This document may contain certain "forward–looking statements", including, but not."— Presentation transcript:

1 Executive Presentation April 2009

2 Slide 2 first mover gold explorer This document may contain certain "forward–looking statements", including, but not limited to, statements concerning current and future drilling programmes, estimation of mineral resources, the continuing development plan, the type of mineralization present and expected results. Information inferred from the interpretation of drilling results may be deemed to be forward looking statement, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Statements and estimates concerning mineral resources may also be deemed to be forward looking statements in that they involve estimates, based on certain assumptions, regarding the mineralization that would be encountered if and when a mineral deposit is actually developed and mined. Forward looking statements are not historical facts, and are subject to a number of risks and uncertainties beyond managements control. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward–looking statements include, among other things, but without limitation, those set forth in the prospectus of African Aura Resources Ltd. (African Aura), and particularly in the section entitled Risk Factors. For more information about the Companys properties and projects, please refer to the technical report dated 31st October 2007 prepared by Martin Pittuck and Gareth ODonovan of SRK Consulting (UK) Limited in accordance with the requirements of National Instrument 43–101 Standards of Disclosure for Mineral Projects (NI 43–101). This document is available at under African Auras public documents. The technical information contained in this document was compiled by qualified persons under NI 43–101 who have consented to the inclusion of such technical information in the form in which it appears in this document. Disclaimer

3 April 2009Slide 3 first mover gold explorer To be the pre-eminent TSX-V listed West African focussed pioneering gold explorer and developer in harmony with the communities in which we operate; growing our resources through discovery, merger and acquisition to create value for all current and future stakeholders. Introduction Our vision

4 April 2009Slide 4 first mover gold explorer Introduction Focussed on West Africa with a clear vision for growth Experienced team in discovering and building gold mines Highly prospective gold portfolio in Cameroon and Liberia Significant iron ore deposit being advanced at Djoum Majority owner of Cameroon uranium explorer Ridgeway Energy Incorporated in BVI; listed March 08 (TSX-V Tier 1: AAZ) C$6.8m cash on hand, 2009 total budget of C$1.69m Overview

5 April 2009Slide 5 first mover gold explorer Our portfolio Highly prospective licence base from first mover advantage 9,500km 2 in Cameroon and 400km 2 in Liberia

6 April 2009Slide 6 first mover gold explorer Define 2 x 1M oz gold resources in Cameroon Undertake iron ore JV Seize value-adding JV, merger and acquisition opportunities Ensure shareholders are aware of strategy and progress Build on our reputation for operational excellence Objectives

7 April 2009Slide 7 first mover gold explorer David Netherway, Independent Chairman Mining engineer (30+ years); CEO Shield Resources; former CEO Afcan (Eldorado $115M) and former director Equigold (EQI-A), Director of Orezone (OZN-T), KazakhGold (KZG-L), Gold Mines of Algeria (GMA-L) John Gray, President and CEO Geologist (18+ years); Homestake, Noranda, Axmin and co- founder of Northern Minerals and Basti Resources Matthew Grainger, Independent Director Geologist (9+ years); co-founded Altus Strategies & Ariana Resources Steven Poulton, Independent Director Founder African Aura; Altus Strategies (CEO), Stellar Diamonds; co-founder Ariana Resources (AAU-L) Danesh Varma, Independent Director Accountant (20+ years); CFO Canadian Zinc (CZN-T) and Conquest Resources (CQR-V) Manuel Lamboley, Independent Director Investment banker (20+ years); ex-UBS, Williams de Bröe, Kidder Peabody (Geneva) Our team David Swan, CFO Accountant (30+ years); A Anderson, Oriel Resources Mark Biddulph, COO Geologist (14+ years); 11 years as senior geologist and senior mine manager with Anglogold Ashanti Ian Prince, Drilling Manager Driller and mechanic (30+ years); with diamond drilling and RC experience throughout west and central Africa Primus Asua, Financial Controller Cameroon ACCA qualified accountant (7+ years) with finance, company secretarial and administration experience Emanuel Blankson, Financial Controller Liberia An Associate Member of the Liberia Institute of Certified Public Accounts (20 years experience) Bernie Jones, UK Office Manager Finance and administrative assistant previously (5 years) with Mano River Resources Inc Geologists A team of over 10 local and expatriate geologists

8 April 2009Slide 8 first mover gold explorer Pre-20062007 2008 August 98 – Incorporated in British Virgin Islands February – Exploration underway on East Kpo Licence, Liberia February – Positive drilling results from Fula Camp gold project in Liberia March – Listed on TSX-V raising C$9m (31 March 08) February 04 – name changed to African Aura Resources Ltd April – Granted gold exploration licences in Cameroon April – Licence holding increased in Cameroon April – Commenced 5,000m drilling program at the Batouri licence in Cameroon February 05 – Positive results from Phase One Gold Programme in Liberia June – Significant gold anomaly at Tenkeh Hill in Liberia & appointment of Directors June – Placing of C$9.5M pre–IPO financing (closed in July) April – Phase-2 gold exploration at Ntem and Rey Bouba licences in Cameroon April 05– Sign Diamond Joint Venture Agreement October – Two significant zones defined at Tenkeh Hill gold prospect in Liberia June – Exploration update at Rey Bouba and southern Cameroon licences May – Commenced iron ore exploration on the Djoum licence in Cameroon September 05 – Major new gold zones discovered in Liberia December – Drilling underway at Fula Camp gold project in Liberia June – Two further exploration licences granted in Cameroon May – Commenced 2 nd round phase of exploration on Ntem licence June – Uranium exploration subsidiary (Ridgeway Energy) granted licences in Cameroon August – Commenced JV negotiations with major steel company September – Commenced strategic review in light of severe market corrections Our growth story

9 April 2009Slide 9 first mover gold explorer Cameroon portfolio 5,950km 2 first mover land position – Au & Fe 3,480km 2 (Ridgeway Energy) – U, Au & Fe Stable democracy Excellent infrastructure Birimian and Archaean geology LicenceCountryReconnaissanceSoil GridTrenchingGeophysicsDrilling BatouriCameroonCompletedOngoing CompletedOngoing Djoum (Iron)CameroonCompletedUnderwayQ4 20082009 Rey BoubaCameroonCompletedUnderwayQ1 2009TBC2009 AkonolingaCameroonCompletedUnderwayTBC 2009 NtemCameroonCompletedUnderway TBC2009 TchollireCameroonCompletedQ1 2008Q2 2008TBC Essong (uranium)CameroonUnderwayQ1 2008Q2 2008TBC Bantadje (uranium)CameroonUnderwayQ1 2008Q2 2008TBC

10 April 2009Slide 10 first mover gold explorer Batouri gold project, Eastern Cameroon 1,000km 2 licence Objective 1M+oz Au resource Drive-up drill targets Untested artisanal workings 3.5km Kambele prospect 3km Mongonam prospect 4.5km Amndobi prospect

11 April 2009Slide 11 first mover gold explorer Kambele drill programme, Batouri 3 x 500m zones in 3.5km envelope of >250ppb Au in soils Granite hosted quartz vein and stockwork deposit Extensive artisanal pitting on coarse gold bearing veins 5,671m of diamond drilling completed in 55 holes (Dec 08) High grade drill results: 1m @ 132g/t, 1m @ 35g/t, 1.5m @ 49g/t, 1.5m @ 43g/t and 2.67m @ 66g/t

12 April 2009Slide 12 first mover gold explorer Amndobi and Dimako prospects, Batouri Dimako 3km soil anomaly Extensive pitting Drill results include 2.4m @ 13g/t Au 1.1m @ 16g/t Au Amndobi 4.5km soil anomaly Trenching underway

13 April 2009Slide 13 first mover gold explorer Ntem gold project, SW Cameroon 1,000km 2 licence in Archaean BIF + greenstone Objective 1M+oz Au resource Two x 2km zones identified Trenching on 2km soil anomaly >100g/t pan cons with VG suggest proximal sources

14 April 2009Slide 14 first mover gold explorer Rey Bouba & Tchollire gold projects 1,966km 2 of licences in Birimian age-dated rocks Regional scale structure: Central African Shear Zone Multiple gold prospects along structure Permissive volcano-sedimentary lithologies

15 April 2009Slide 15 first mover gold explorer Akonolinga & Djoum gold projects 1,994km 2 of licences in Archaean BIF + greenstone Gold associated with structural complexity Anomalous gold in BIF 13km long iron ore target Subject of a JV negotiation

16 April 2009Slide 16 first mover gold explorer 100% subsidiary developing a major iron ore asset Strategic partner opportunity under review Djoum project: 13.5km dipole target with up to 65% Fe and 0% strip Seeking to define an initial 500-1,000Mt JORC compliant resource Fermont Mining, Djoum, Cameroon

17 April 2009Slide 17 first mover gold explorer Trained and equipped local team Four licence areas totalling 3,480km 2 High grade, syenite hosted Molybdenum – Uranium target identified 70% owned subsidiary (30% local partner) > Potential spin out Consolidating quality uranium projects in Cameroon Ridgeway Energy (Uranium), Cameroon

18 April 2009Slide 18 first mover gold explorer Liberia Exploration since 2004 on 400km 2 licence base, multiple projects Archaean greenstone frontier gold province in West Africa Comparable to: Tanzania, Canada, Guyana etc Rapidly developing country & stable democracy

19 April 2009Slide 19 first mover gold explorer Liberia East Kpo Licence (200km 2 ) Centred on Liberias largest reported historic alluvial gold camps Tenkeh Hill prospect discovered Five further target areas defined to date 40km of Archaean greenstone belt North Bea Licence (200km 2 ) Fula camp project drilled 2007/8 45km NE of 1.4M oz Au New Liberty Deposit Selected intersects of 3.14 g/t Au over 12.45m and 5.37 g/t Au over 9.85m

20 April 2009Slide 20 first mover gold explorer Shareholder Share s (M) % Management & Directors7.8711.7% Firebird Global Master Fund II, Limited 4.747.0% Arbitrage Research and Trading limited 4.436.6% RBC Global Precious Metals Fund 3.805.6% GOLD 2000 3.164.7% AM2 (Bermuda) Limited 2.593.8% Atlas Financial International Limited 2.403.6% Sprott Asset Management Inc. 2.223.3% Passport Capital 2.223.3% SALIDA 2.003.0% Pinetree Resources Partnership 1.872.8% GAIA Resources Fund 1.862.8% Other & private investors 28,2041.9% Total (Undiluted) 67.36100% Warrants 30/09/09 @ C$0.550.93 Warrants 30/09/10 @ C$0.6010.56 Warrants 30/03/10 @ C$0.808.28 Employee Options (average C$0.29)5.0 Total (Fully Diluted)92.3 Share capital Share price since March 08 (IPO) Capitalisation summary Shares on issue67.36 Cash on hand (C$)C$6.2m Cash per shareC$0.10 Share price (31Mar09)C$0.10 Capitalisation (31Mar09)C$6.70m

21 April 2009Slide 21 first mover gold explorer West African focused pioneering gold explorer An experienced board & team and strong shareholder base Multiple gold projects defined from four years exploration Resource drill programme in Cameroon Strategic iron options under review in Cameroon Consolidating Cameroonian uranium projects First mover strategy creating significant value for shareholders Well financed Summary

22 April 2009Slide 22 first mover gold explorer Registered Offices: African Aura Resources Ltd Pasea Estate Road Town Tortola British Virgin Islands Company No:290507 African Aura Resources (UK) Ltd 14 Station Road The Orchard Centre Didcot, Oxfordshire, OX11 7LL United Kingdom Company No:05944161 Principal Bankers: HSBC Bank 186 Broadway, Didcot Oxfordshire OX11 8RP United Kingdom Bank of Butterfield 65 Front Street Hamilton HM 12, P.O Box HM195 Bermuda Brokers:Thomas Weisel Partners 10th Floor 70 York St. Toronto, Ontario M5J 1S9 Canada Haywood Securities 800 BCE Place 29th Floor, 181 Bay Street Toronto, Ontario M5J 2T3 Canada Solicitors:LV Conseil Institutionnels 750, boul. Marcel-Laurin Bureau 106, Saint-Laurent Quebec, H4M 2M Canada Registrar & Transfer Agent Computershare 100 University Avenue, 8th Floor, Toronto, Ontario M5J 2Y1 Canada Independent Consultants: SRK Consulting Windsor Court, 1-3 Windsor Place Cardiff CF10 3BX Auditors:Deloitte & Touche 5140 Yonge Street Suite 1700 Toronto, Ontario M2N 6L7 Canada Corporate directory

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