2 DisclaimerThis 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 management’s 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 Company’s properties and projects, please refer to the technical report dated 31st October 2007 prepared by Martin Pittuck and Gareth O’Donovan 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 Aura’s 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.
3 Introduction Our vision To be a pre-eminent TSX-V listed West African focussed iron ore developer and pioneering gold explorer 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.
4 Introduction Overview Focussed on West Africa with a clear vision for growthExperienced team discovering and building gold minesSignificant iron ore deposit at NkoutHighly prospective gold portfolio in Cameroon and Liberia70% owner of Ridgeway Energy (uranium in Cameroon)BVI incorporated; listed March 08 (TSX-V Tier 1: “AAZ”)C$6.0m cash on hand; 2009 total budget of C$1.69m
5 Our portfolio Cameroon: 9,500km2 Liberia: 400km2 First mover advantage Highly prospective licence base
6 Objectives Define 1bn tonne iron resource at Nkout Define 2 x 1M oz gold resources in CameroonSeize value-adding JV/ merger/ acquisition opportunitiesUpdate shareholders of strategy and progressBuild on our reputation for operational excellence
7 Our team David Netherway, Independent Chairman Mining engineer (30+ years); CEO Shield Resources; former CEO Afcan (Eldorado $115M), former director Equigold (EQI-A), Director of Orezone (OZN-T), KazakhGold (KZG-L), Gold Mines of Algeria (GMA-L)John Gray, President and CEOGeologist (18+ years); Homestake, Noranda, Axmin, co-founder Northern Minerals and Basti ResourcesMatthew Grainger, Independent DirectorGeologist (9+ years); co-founded Altus Strategies & Ariana ResourcesSteven Poulton, Independent DirectorFounder African Aura; Altus Strategies (CEO), Stellar Diamonds; co-founder Ariana (AAU-L)Danesh Varma, Independent DirectorAccountant (20+ years); CFO Canadian Zinc (CZN-T) and Conquest Resources (CQR-V)Manuel Lamboley, Independent DirectorInvestment banker (20+ years); ex-UBS, Williams de Bröe, Kidder Peabody (Geneva)David Swan, CFOAccountant (30+ years); A Anderson, Oriel ResourcesMark Biddulph, COOGeologist (14+ years); 11 years as senior geologist and senior mine manager with Anglogold AshantiCharles Savage (Consultant)Iron Ore Mining Engineer with 37 years experienceIan Prince, Drilling ManagerDriller and mechanic (30+ years); with diamond drilling and RC experience throughout west and central AfricaPrimus Asua, Financial Controller CameroonACCA qualified accountant (7+ years)Emanuel Blankson, Financial Controller LiberiaAn Associate Member of the Liberia Institute of Certified Public Accounts (20 years experience)Val Jones, UK Office ManagerFinance and administrative assistant
8 Active Resource Companies in Cameroon World Bank sponsored mining lawHighly prospective Archaean geologyDeep water Atlantic port plannedWell developed infrastructureStable democracyActive Resource Companies in CameroonCompanyCommodityExchangeAfrican AuraGoldTSX-VGeovic MiningCobalt & NickelTSX–VMega UraniumUraniumTSXUranexASXSundance ResourcesIron Ore
9 Iron Deposits in ‘Hinge of Africa’ ‘Hinge of Africa’: Cameroon, Gabon, Republic of Congo4 x 1,000km2 licences , including NKOUT & NGOA
10 Nkout Iron Project - Overview World class iron ore province : 9 known depositsNkout Project (100%):13.5km target up to 65% FeInitial target: 500-1,000Mt (JORC/ NI resource)
11 Nkout – Location 300km from deep water 115km west of Mbalam Haematite and ItabiriteZero stripping ratioDiscovered by BRGMNGOAN K O U T
12 Nkout – Magnetics & Topography Airborne magnetic dipole coincident with topographyTopography and mapping confirms 13.5km ridgeAccess and infrastructure from Djoum town
13 Nkout – Reconnaissance results Average 54% Fe from grab sampling along 5km sectionMineralogy and processing studies underwayMassive ± banded haematite and breccia ores[% Fe]SamplesMain component53-6517Fe2O346-649Fe2O3 + FeO (OH)x36-4510SiO2 rich1-208Rocks# Nkout Itabirite
14 Nkout – Exploration plan PhasePrimary ActivityYearUS$123451a - Project infrastructureScout drilling, GIS creation, access roads, base line, trenching and initial mapping$1m1b – First Phase ExplorationTopographic, geological, magnetic surveys, trenching as appropriate and met-testwork$1.5m2 – Second Phase Exploration>5,000m drilling, met/ min testing & geostatistical modelling$4.5m3 - Pre Feasibility Study~ 20,000m drilling, adit development, bulk sampling, initial logistics studies$9m4- Bankable FeasibilityRoad, rail, port access, site accommodation, services studies$10-30m5 - Mine ConstructionMachinery, rail head, pelletising plant, stockpiling, ship loading etc.TBC
16 Nkout – Phase 1b) Exploration (6 mths) Budget: US$1.5mCombined geological & magnetometer surveyEstablish on-site sample preparation facilityImplement Environmental PermittingSystematic trenching (5,000m) spaced at mExploration licences extended until August 2011
17 Additional targets Nkout West Akonolinga 10km of targets Mapped as BIF by BRGMStrong geophysical signatureOn planned access to NkoutAkonolingaContiguous with DjoumAirborne dipole targets7km of mapped BIF
18 Additional targets Ntem 100% African Aura Multiple BIFs [BRGM] Mapping underway50km from the coast
19 Social & Environmental ‘Source locally first’ schemes for staff and suppliesSignificant local employment & professional developmentIFC guided Social Baseline StudiesIFC guided Environmental Impact Studies
20 Share price since March 08 (IPO) Share capitalShareholderShares (M)%Management & Directors7.8711.7%Firebird Global Master Fund II, Limited4.747.0%Arbitrage Research and Trading limited4.436.6%RBC Global Precious Metals Fund3.805.6%GOLD 20003.164.7%AM2 (Bermuda) Limited2.593.8%Atlas Financial International Limited2.403.6%Sprott Asset Management Inc.2.223.3%Passport CapitalSALIDA2.003.0%Pinetree Resources Partnership1.872.8%GAIA Resources Fund1.86Other & private investors28,2041.9%Total (Undiluted)67.36100%Warrants C$0.550.93Warrants C$0.6010.56Warrants C$0.808.28Employee Options (average C$0.29)5.0Total (Fully Diluted)92.3Capitalisation summaryShares on issue67.36Cash on hand (C$)C$6.0mCash per shareC$0.09Recent Share priceC$0.10Recent CapitalisationC$6.70mShare price since March 08 (IPO)
21 Summary West African focused pioneering explorer Experienced board and team & strong shareholder baseMajor new prospect in prolific iron ore provinceMultiple gold projects from four years explorationFirst mover strategy creating shareholder valueWell financed
22 Corporate directory Registered Offices: African Aura Resources Ltd Pasea Estate Road Town Tortola British Virgin Islands Company No:290507African Aura Resources (UK) Ltd 14 Station Road The Orchard Centre Didcot, Oxfordshire, OX11 7LL United Kingdom Company No:Principal Bankers:HSBC Bank186 Broadway, DidcotOxfordshireOX11 8RPUnited KingdomBank of Butterfield65 Front StreetHamiltonHM 12, P.O Box HM195BermudaBrokers:Thomas Weisel Partners 10th Floor 70 York St. Toronto, Ontario M5J 1S9CanadaHaywood Securities 800 BCE Place 29th Floor, 181 Bay StreetToronto, Ontario M5J 2T3Solicitors:LV Conseil Institutionnels 750, boul. Marcel-Laurin Bureau 106, Saint-LaurentQuebec, H4M 2MRegistrar & Transfer AgentComputershare100 University Avenue, 8th Floor,Toronto, Ontario M5J 2Y1Independent Consultants:SRK ConsultingWindsor Court, 1-3 Windsor PlaceCardiffCF10 3BXAuditors:Deloitte & Touche5140 Yonge StreetSuite 1700Toronto, Ontario M2N 6L7
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