Castle Minerals Ltd · ASX:CDT

Castle Minerals — Shareholder Meeting (November 2011)

30 slides from Castle Minerals's shareholder meeting presentation, Nov 22, 2011

  1. Slide 1: 2011 - A Year of Discovery

    2011 - A Year of Discovery Annual General Meeting of Shareholders For personal use only 22 November 2011

  2. Slide 2: 2011 highlights and funding

    For personal use only  Largest Landholder with >11,000km2  Three greenfields gold discoveries in 2011  Kandia  Baayiri  Koda Hill  Proven the prospectivity of our land holding  2011/12 field season underway  Well funded with >$6 M, own drill rig, new site office/accommodation facilities esta

  3. Slide 3: Board and management

    For personal use only Michael Ashforth - Non Executive Chairman, Executive director of Macquarie Capital. Former MD of Gresham Advisory Partners and partner of Freehills. Michael Ivey – Managing Director & CEO Geologist, 25 years corporate, technical, exploration and mine development experience Form

  4. Slide 4: Tight Capital Structure

    For personal use only  Issued Shares 113.5m  Options (35c Dec 2011 and 40c) 4.55m  Market Cap (@30c) $34m  Cash (Nov 2011) $6.1 m % Issued Capital Tight Capital Structure Azumah Resources 14.7% Register includes; Lujeta Pty Ltd 8.9% Seamans Capital (Boston) Harper 7.5% Resource Capital Funds VLP

  5. Slide 5: Largest land holder in Ghana

    For personal use only  Largest land holder in Ghana  6 exploration projects covering ~11,000 km2  Two gold discoveries in 2008  Three discoveries in 2011  Focus on Akoko and Wa Projects  Antubia and Opon Mansi programs planned 5

  6. Slide 6: Wa Project location map

    i 11°N + 9°N Burkina Faso aw = “7 TW ‘as Sy lll 50km £7 fv o (if Bolgatanga ( { n w& 4 \ WA PROJECT re } SP kandiaGoid Bae discovery ¥ Sa Konkera vo 2.2Moz Gold GHANA <s | ® > ~ ~ -, J Be ae tied < t ¥ MS ~ VOLTA * BASIN ~\ Ngo _ —* Wai Wa South Auger j))__ Gold Anomaly p47 JV 4 Uf j a4 ° y = y \ |

  7. Slide 7: Wa Project overview

    For personal use only  ~10,000km2  Good title - 3 RL’s, 17 PL’s/PLA’s  acquired Nov 2007  No historic minerals drilling  Julie West defined 2009, (415,000t @ 4.2g/t)  4 advanced regional exploration areas Wa-Lawra Belt South Wa Julie West – Jang Kandia 7

  8. Slide 8: Wa-Lawra trend and alluvial cover

    For personal use only  Wa-Lawra trend (~70 strike ~4m alluvial cover km) has same stratigraphy as ~800,000 oz Kunche Bepkong deposits  Never drilled Bedrock  Western area adjacent to Black Volta has variable alluvial cover sequences  Conventional soils sampling largely ineffective  Auger and RA

  9. Slide 9: South Wa prospect

    For personal use only  Intersection of Wa-Lawra and Bolgatanga greenstone belts  Extension of Batie West structure  No pre Castle drilling  Soil anomaly confirmed and refined by auger drilling  112 aircore holes on 3 lines completed June 2011 as first test of the 5km x 3km auger anomaly  Birim

  10. Slide 10: Maiden aircore drilling outlines gold trend

     Maiden aircore drilling outlines coherent gold trend intersecting For personal use only • 26m @ 0.24 g/t gold from 25m to EOH (11SWRB47) • inc.10m @ 0.51g/t gold from 25m and • 10m @ 0.54 g/t gold from 25m (11SWRB69) 10

  11. Slide 11: Julie West - Jang belt overview

    For personal use only • 180km long, • 30-80km wide • acquired Nov 2007 • Julie West discovered 2008, first resource 2009 • New vein discovery March 2010 • Batie West extension target first sampling 2010 11

  12. Slide 12: Kandia Artisanal Workings

    Kandia Artisanal Workings For personal use only 12

  13. Slide 13: For personal use only

    Tine ‘e fe J 7 ¥ < for drill testing A, el ?

  14. Slide 14: Kandia Gold Prospect drill hole plan and section

    | 597,800mE 598,000mE 598,200mE mN 45m @ 0.44git Au See cee 20m @ 0.63g/t Au eoeee O sediments O z KANDIA GOLD PROSPECT FE Drill Hole Location Plan a 2m @ 1.0g/t Au e e 5m @ 0.69g/t Au eee 10m @ 1.04g/t Au 10m @ 0.64g/t Au nm Eine oy Me granu 15m @ 2.39g/t Au 25m @ 0.76g/t Au E 25m @ 1.23g/t Au —_..

  15. Slide 15: Kandia greenfields gold discovery

    For personal use only  Greenfields gold discovery made from drill testing soil anomalism  RC drilling has confirmed persistent bedrock gold mineralisation up to 45m wide over +600m of strike. Open to the south and down dip  Evidence for a parallel zone to the west that requires testing  Excellen

  16. Slide 16: Julie West - Jang area

     +50km of anomalous gold For personal use only geochemistry  Hosts Julie West gold deposit and two new discoveries - Koda Hill and Baayiri  3km west of AZM’s Julie deposit  No historic pre CDT minerals drilling 16

  17. Slide 17: Koda Hill/Baayiri - New Discoveries

    Koda Hill/Baayiri - New Discoveries 20 For personal use only

  18. Slide 18: Julie West Vein

    Julie West Vein 415,000t@ 4.2g/t gold (56,000 ounces) For personal use only  500m long laminated quartz vein 5m @ 28g/t gold, 2m @ 41g/t gold 7m @ 23g/t, 3m @10g/t  Conceptual open pit study ($600/oz shell) captures 250kt@ 4.9g/t gold  Cash cost of US$295/oz 18

  19. Slide 19: Julie - Jang Trend

    Julie – Jang Trend For personal use only  12 x 6km area of strong gold anomalism in an area never previously explored or sampled  Surface soils up to 2,671ppb gold  Highest tenor and size reported so far along Julie- Jang Trend  Excellent structural position enhances prospectivity  First RC dri

  20. Slide 20: Baayiri Prospect RC drill collars and soils

    BAAYIRI PROSPECT f RC drill collar locations / and soil sample results Grid: WGS84/UTM Zone 30N /

  21. Slide 21: Julie - Jang Trend RC results

    Julie – Jang Trend For personal use only Phase One RC • 55m @ 1.82g/t gold fm 15m (BARC 07) Inc. 40m @2.02g/t • 5m @ 6.64g/t from surface (BARC 02) • 20m @ 0.55g/t gold from10m (BARC 06) Phase Two RC • 15m @ 2.73 g/t gold from 30m inc.10m @ 4.0g/t gold from 30m and • 20m @ 1.08 g/t gold from 20m • 3

  22. Slide 22: For personal use only

    1.08 2.3 1.3 1.91 0.04 2.72 2.14 0.87 1.07 1.64 0.18 For personal use only 1.78 0.36 1.68 1.5 1.24 3.9 0.04 4.03 1.98 3.97 2.57 3.27 1.17 0.4 3.52 3.12 1.94 0.36 0.44 0.8 1.72 0.08 5.69 1.63 0.1 0.66 1.68 19.27 3.86 1.16 0.21 3.01 2.11 0.26 2.15 0.14 0.68 1.14 0.51 0.23 0.26 1.89 0.38 0.93 0.66 0.1

  23. Slide 23: Wa Project 2011 summary

    For personal use only  ~11,000km2 Wa Project is an exceptional underexplored landholding  >50,000m of drilling completed in 2011  Kandia, Baayiri and Koda Hill greenfield gold discoveries  Initial Resource for Kandia  Purchased own drill rig + 3 new support vehicles  Established Exploration Of

  24. Slide 24: Akoko project location

    For personal use only  Akoko South and Akoko North prospects  10km east of Adamus Resources 2 Moz Salman/Anwia project  30km south of 22 Moz Tarkwa goldmine  Ashanti Gold Belt

  25. Slide 25: Akoko North resource increase

    For personal use only  Resource grade at Akoko North has increased by 37%  Akoko North totals 1.1mt @ 2.2g/t gold for 77,400 ozs  Combined Resource estimate for Akoko North and Akoko South totals 103,300 ozs  Scoping studies at Akoko North captures 1.07mt @ 2.0g/t gold (68,000 ozs) at a cash cos

  26. Slide 26: Akoko diamond drilling results

     Four Diamond drill holes completed For personal use only October 2011 returned best results of  12m @ 2.68 g/t gold from 24m (11ANDD02) and  11.8m @ 3.24 g/t gold from 0.7m (11ANDD03)

  27. Slide 27: Akoko drill sections

    For personal use only 12m @ 2.68 g/t gold (ANDD002) 11.8m @ 3.24 g/t gold (ANDD003)

  28. Slide 28: Infill sampling at Akoko North and East

    Infill and extensional sampling at Akoko For personal use only North and Akoko East prospects has confirmed significant soil anomalism, that combined, extends for an aggregate 15 strike km and offers immediate new drill targets

  29. Slide 29: One of the cheapest West African stocks

    For personal use only One of the cheapest West African stocks with potential for multiple uplift on exploration success 279M web: www.castleminerals.com email: mivey@castleminerals.com Perth Office: Unit 6, 1 Clive Street West Perth phone: +618 9322 7018 post: PO Box 437 West Perth WA

  30. Slide 30: Resource estimates: Julie West and Akoko

    Julie West Deposit April 2009 OK Resource Estimate 1g/t cut-off For personal use only Indicated Inferred Total Type Tonnes Au Au Tonnes Au Au Tonnes Au Au t g/t Ounces t g/t Ounces t g/t Ounces Oxide Transitional 66,700 3.8 8,200 3,500 7.8 900 70,200 4.0 9,000 Fresh 316,200 4.3 43,900 28,400 3.5 3,2

Castle Minerals — Shareholder Meeting (November 2011) on 6ix