Castle Minerals Ltd · ASX:CDT

Castle Minerals — Africa Mining & Investment Conference - Sydney March 2012

26 slides from Castle Minerals's conference presentation, Mar 12, 2012

  1. Slide 1: Investor Presentation - Africa Mining & Investment Conference Sydney

    For personal use only Investor Presentation Africa Mining & Investment Conference - Sydney March 2012 www.castleminerals.com ASX: CDT

  2. Slide 2: History

    History For personal use only  ASX listed Ghana Focussed Gold Explorer since 2006 - ASX: CDT  Five greenfield gold discoveries made in Ghana 2

  3. Slide 3: Experienced Board and Management

    Experienced 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

  4. Slide 4: Market Statistics

    Market Statistics For personal use only Issued Shares 113.7 m Options (40c) 1.05m Market Cap $22 m Cash $5.6m % Issued Capital Tight Capital Structure Azumah Resources 15.3% Register includes; Lujeta Pty Ltd 8.9% Seamans Capital (Boston) Harper 7.5% Resource Capital Funds VLP (Denver) Bridgelane Pty

  5. Slide 5: Summary

    Summary For personal use only  >11,000km2 in 6 project areas  Resource base increased 68% to: 267,000 ounces  Akoko 103,300 ounces  Kandia 107,500 ounces  Julie West 56,000 ounces  +60,000m drilling for 2012 is underway following three new gold discoveries from 2011exploration  Well funded wi

  6. Slide 6: Project Locations and Exploration Activity

    Project Locations and Exploration Activity For personal use only  Four drill rigs and two soil geochemical teams operating at the Wa gold Project in Ghana  60,000m of drilling planned for 2012  Castle’s own drill rig successfully commissioned and drilling at Baayiri prospect 6

  7. Slide 7: Low Cost Exploration

    Low Cost Exploration For personal use only  Owner operator rig delivered Jan 2012  Huge flexibility and cost advantages  Averaging +4,000m/month @ <$10/m versus $30-40m contract rates  Exploration spend is aggressive but measured and results dependent – low overhead 7

  8. Slide 8: Wa Project landholding (~10,000km2)

    For personal use only  ~10,000km2  Good title - 3 RL’s, 18 PL’s/PLA’s  No historic minerals exploration drilling  Julie West defined 2009, (415,000t @ 4.2g/t) and Kandia 2011 (107Koz)  4 advanced regional exploration areas  Wa-Lawra Belt  Wa South  Julie West – Jang (Baayiri)  Kandia

  9. Slide 9: Wa Project – Wa-Lawra Trend

    Wa Project – Wa-Lawra Trend For personal use only  Wa-Lawra trend (~70 strike km) Kunche has same stratigraphy as /Bepkong ~800,000 oz Kunche Bepkong ~800Koz deposits  Never drilled  Western area adjacent to Black Volta has variable alluvial cover sequences +70km of untested greenstone  Conventi

  10. Slide 10: Wa South

    Wa South 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 as first test of the 5km x 3km auger anomaly  Birimi

  11. Slide 11: Maiden aircore drilling outlines coherent gold trend

    For personal use only  Maiden aircore drilling outlines coherent gold trend intersecting • 26m @ 0.24 g/t gold from 25m to EOH inc.10m @ 0.51g/t gold from 25m and • 10m @ 0.54 g/t gold from 25m  First RC drill test Feb 2012 11

  12. Slide 12: Kandia Prospect

    For personal use only Kandia Prospect

  13. Slide 13: Kandia Prospect

    Kandia Prospect For personal use only  A +20km granite/sediment contact zone hosting sediment hosted gold mineralisation.  RC and RAB programs proposed for 2012 to extend known mineralisation and test parallel and strike extent targets

  14. Slide 14: Julie West – Jang Trend

    Julie West – Jang Trend For personal use only

  15. Slide 15: Julie West - Jang

    Julie West - 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 pre CDT drilling 15

  16. Slide 16: Julie West Vein

    Julie West Vein 415,000t@ 4.2g/t Julie West – Jang 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 16

  17. Slide 17: Julie West – Jang

    Julie West – Jang For personal use only  High grade rock chips and RC intercepts 4km north of Julie West deposit offer immediate drill targets  This area will be a priority for RC drilling along with areas of untested laminated vein subcrop reporting rock chips up to 37g/t gold 17

  18. Slide 18: Koda Hill/Baayiri - New Discoveries 2011

    Koda Hill/Baayiri - New Discoveries 2011 For personal use only

  19. Slide 19: Baayiri

    Baayiri For personal use only  A large previously unexplored area of anomalous soil geochemistry (12 x 6km) only limited by the boundaries of soil sampling  First RC drilling in 2011 intersected  52m @ 2.02g/t from 15m  5m @ 6.64g/t from surface  20m @ 0.55g/t gold from10m  15m @ 2.73 g/t gold

  20. Slide 20: Baayiri

    For personal use only Baayiri

  21. Slide 21: Akoko Project

    Akoko Project For personal use only  Ashanti Gold Belt  10km east of 2 Moz Salman Gold Project and 30km south of 22 Moz Tarkwa gold deposits  Resource grade at Akoko North increased by 37%  Akoko North hosts 1.1mt @ 2.2g/t gold for 77,400 ozs  Combined Resource estimate totals 103,300 ozs  Sco

  22. Slide 22: Akoko Project

    Akoko Project For personal use only  Significant soil anomalism, extends for an aggregate 15 strike km and offers immediate new drill targets  Recent exploration Akoko East success along strike of Akoko East anomalies by competitors

  23. Slide 23: For personal use only

    z § r= Fe T 560,000mN T 559,600mN T 559,200mN T 595,600mE 595,600mE_ nl T T 596,000mE 596,400mE 2 Mineralised Gold Corridor Legend «Existing RC dling nants] RE NOTE 596,000mE 596,400mE 1 n AKOKO NORTH PROSPECT 560,400mN- L Rael 1 \ 559,600mN fi 559,200mN n r#"** _ AKOKO NORTH PROSPECT RC Section 559

  24. Slide 24: Summary

    Summary For personal use only  ~10,000km2 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 Explor

  25. Slide 25: Best Value Gold Explorer in West Africa

    Best Value Gold Explorer in West Africa For personal use only Strong news flow expected upon receipt of assay results One of the cheapest West African stocks with potential for multiple uplift on exploration success web: www.castleminerals.com email: mivey@castleminerals.com Perth Office: Unit 6, 1

  26. Slide 26: Appendix - Resource Estimates

    Appendix 1 - Resource Estimates For personal use only Wa Project Indicated Inferred Total Tonnes Au Au Tonnes Au Au Tonnes Au Au t g/t Ounces t g/t Ounces t g/t Ounces Julie West 383,000 4.2 52,100 32,000 4 4,100 415,000 4.2 56,200 Ka ndi a 4000 Zone 1,973,000 1 62,900 1,150,000 0.8 31,200 3,123,000

Castle Minerals — Africa Mining & Investment Conference - Sydney March 2012 on 6ix