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Iron in Cameroon April 2009. Slide 2 first mover gold explorer This document may contain certain "forward–looking statements", including, but not limited.

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

1 Iron in Cameroon 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 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. Introduction Our vision

4 April 2009Slide 4 first mover gold explorer Introduction Focussed on West Africa with a clear vision for growth Experienced team discovering and building gold mines Significant iron ore deposit at Nkout Highly prospective gold portfolio in Cameroon and Liberia 70% 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 Overview

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

6 April 2009Slide 6 first mover gold explorer Define 1bn tonne iron resource at Nkout Define 2 x 1M oz gold resources in Cameroon Seize value-adding JV/ merger/ acquisition opportunities Update shareholders 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), 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, co-founder 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 (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 Charles Savage (Consultant) Iron Ore Mining Engineer with 37 years experience 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) Emanuel Blankson, Financial Controller Liberia An Associate Member of the Liberia Institute of Certified Public Accounts (20 years experience) Val Jones, UK Office Manager Finance and administrative assistant

8 April 2009Slide 8 first mover gold explorer Cameroon World Bank sponsored mining law Highly prospective Archaean geology Deep water Atlantic port planned Well developed infrastructure Stable democracy Active Resource Companies in Cameroon CompanyCommodityExchange African AuraGoldTSX-V Geovic MiningCobalt & NickelTSX–V Mega UraniumUraniumTSX UranexUraniumASX Sundance ResourcesIron OreASX

9 April 2009Slide 9 first mover gold explorer Hinge of Africa: Cameroon, Gabon, Republic of Congo 4 x 1,000km 2 licences, including NKOUT & NGOA Iron Deposits in Hinge of Africa

10 April 2009Slide 10 first mover gold explorer World class iron ore province : 9 known deposits Nkout Project (100%):13.5km target up to 65% Fe Initial target: 500-1,000Mt (JORC/ NI resource) Nkout Iron Project - Overview

11 April 2009Slide 11 first mover gold explorer 300km from deep water 115km west of Mbalam Haematite and Itabirite Zero stripping ratio Discovered by BRGM NGOA N K O U T Nkout – Location

12 April 2009Slide 12 first mover gold explorer Airborne magnetic dipole coincident with topography Topography and mapping confirms 13.5km ridge Access and infrastructure from Djoum town Nkout – Magnetics & Topography

13 April 2009Slide 13 first mover gold explorer [% Fe]SamplesMain component Fe 2 O Fe 2 O 3 + FeO (OH) x SiO 2 rich 1-208Rocks # Nkout Itabirite Nkout – Reconnaissance results Average 54% Fe from grab sampling along 5km section Mineralogy and processing studies underway Massive ± banded haematite and breccia ores

14 April 2009Slide 14 first mover gold explorer PhasePrimary Activity Year US$ a - Project infrastructure Scout drilling, GIS creation, access roads, base line, trenching and initial mapping $1m 1b – First Phase Exploration Topographic, geological, magnetic surveys, trenching as appropriate and met-testwork $1.5m 2 – Second Phase Exploration >5,000m drilling, met/ min testing & geostatistical modelling $4.5m 3 - Pre Feasibility Study ~ 20,000m drilling, adit development, bulk sampling, initial logistics studies $9m 4- Bankable Feasibility Road, rail, port access, site accommodation, services studies $10-30m 5 - Mine Construction Machinery, rail head, pelletising plant, stockpiling, ship loading etc. TBC Nkout – Exploration plan

15 April 2009Slide 15 first mover gold explorer Budget: US$1.0m 30m SRTM ± aerial photos for infrastructure planning Establish field camp, communications & staffing Develop 5km access roads, 9km baseline Commence systematic prospecting Drill 1,000m of core Nkout – Phase 1a) Exploration (6 mths)

16 April 2009Slide 16 first mover gold explorer Budget: US$1.5m Combined geological & magnetometer survey Establish on-site sample preparation facility Implement Environmental Permitting Systematic trenching (5,000m) spaced at m Exploration licences extended until August 2011 Nkout – Phase 1b) Exploration (6 mths)

17 April 2009Slide 17 first mover gold explorer Nkout West 10km of targets Mapped as BIF by BRGM Strong geophysical signature On planned access to Nkout Akonolinga Contiguous with Djoum Airborne dipole targets 7km of mapped BIF Additional targets

18 April 2009Slide 18 first mover gold explorer Ntem 100% African Aura Multiple BIFs [BRGM] Mapping underway 50km from the coast Additional targets

19 April 2009Slide 19 first mover gold explorer Social & Environmental Source locally first schemes for staff and supplies Significant local employment & professional development IFC guided Social Baseline Studies IFC guided Environmental Impact Studies

20 April 2009Slide 20 first mover gold explorer Shareholder Share s (M) % Management & Directors % Firebird Global Master Fund II, Limited % Arbitrage Research and Trading limited % RBC Global Precious Metals Fund % GOLD % AM2 (Bermuda) Limited % Atlas Financial International Limited % Sprott Asset Management Inc % Passport Capital % SALIDA % Pinetree Resources Partnership % GAIA Resources Fund % Other & private investors 28,2041.9% Total (Undiluted) % Warrants C$ Warrants C$ Warrants C$ 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$6.0m Cash per shareC$0.09 Recent Share priceC$0.10 Recent CapitalisationC$6.70m

21 April 2009Slide 21 first mover gold explorer West African focused pioneering explorer Experienced board and team & strong shareholder base Major new prospect in prolific iron ore province Multiple gold projects from four years exploration First mover strategy creating shareholder value 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: African Aura Resources (UK) Ltd 14 Station Road The Orchard Centre Didcot, Oxfordshire, OX11 7LL United Kingdom Company No: 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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