Castle Minerals Ltd · ASX:CDT

Castle Minerals — Stars in Resources 2011 Series, Sydney

30 slides from Castle Minerals's conference presentation, Oct 19, 2011

  1. Slide 1: Exploring the Largest Landholding in Ghana

    Exploring the Largest Landholding in Ghana Stars in Resources 2011 Series For personal use only Sydney October 2011

  2. Slide 2: Exploring in Ghana since 2006

    For personal use only  Exploring in Ghana since 2006- ASX: CDT  Largest Landholder with >11,000km2  2011 our most successful year with three greenfields gold discoveries in last six months  Proven the prospectivity of our land holding  Preparing for a bigger 2011/12 field season  Well funded w

  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 (@33c) $37m  Cash (Oct 2011) $6.9 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 5

  6. Slide 6: For personal use only

    | Burkina Faso si 1 11°N — SS ee a 1) 0 50km = = | Voltain Basin sediments Tarkwaian Birimian Metasediment Mafic volcanic flows Intrusive units, granitoids, | 10°N [py] matic intrusives,matic Konkers granitoids 2.2Moz Gold —— Major fault / structure C) ; . 4 Re ® Gold Mine or Deposit \ © — Gold occu

  7. Slide 7: Wa Project

    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

    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

    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 For personal use only gold trend intersecting • 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: Kandia

    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

    +10Km fait corrido wr e/c}ie * e D gold anomalism for drill testing |

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

    597 800mE 598.000mE 598 200mE | 598'050mE Se oon % Siem z KANDIA GOLD PROSPECT KANDIA GOLD PROSPECT es Drill Hole Location Plan 1104440 N Section A 2m @ 1.0git Au 9 e 5m @ 0.69g/t Au z ec0e e 13 10m @ 1.04g/t Au 20m@0.45g/t Au 2 10m @0s4gtAu-——)_ , granite 15m @ 2.39gi/t Au 25m @ 0.76g/t Au 3 20m@1.

  15. Slide 15: Greenfields gold discovery at Kandia

    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 - Jang

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

  17. Slide 17: Julie - Jang gold targets

    Kjersti Prospect (AZM) Gold targets for For personal use only Koda Hill RC drill testing within  +50km of anomalous gold Julie – Jang corridor geochemistry  Hosts Julie West gold deposit and two new discoveries - Koda Hill and Baayiri  3km west of AZM’s Julie deposit  No historic minerals drilli

  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: Koda Hill/Baayiri - New Discoveries

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

  20. Slide 20: 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

  21. Slide 21: Baayiri Prospect

    se - limited by sampling boundary oe | , | o d a _—tt 12 no | an 34 1 } discovery = ) see detaile /BAAYIRI PROSPECT _ RC drill collar locations / and soil sample results Grid: WGS84/UTM Zone 30N

  22. Slide 22: 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

  23. Slide 23: For personal use only

    1.08 2.3 1.3 1.91 0.04 2.72 2.14 0.87 1.07 For personal use only 1.64 0.18 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

  24. Slide 24: Wa Project summary and next steps

    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  Assays still outstanding for • Baayiri • Koda Hill • Kandia • Wa South Auger  Large drill focused program

  25. Slide 25: Akoko South and North prospects

    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

  26. Slide 26: Akoko North resource grade increased

    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

  27. Slide 27: Akoko North Prospect

    AKOKO NORTH PROSPECT AKOKO NORTH PROSPECT RC Section 559 680 mN 4

  28. Slide 28: Diamond drilling at Akoko North

    For personal use only  Four Diamond drill holes completed October 2011  Testing for primary mineralisation beneath oxide gold cap  Logging and sampling underway

  29. Slide 29: Potential for multiple uplift on exploration success

    For personal use only 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: Julie West and Akoko North resource estimates

    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 — Stars in Resources 2011 Series, Sydney on 6ix