Castle Minerals Ltd · ASX:CDT
Castle Minerals — Africa Down Under Conference 2011
31 slides from Castle Minerals's conference presentation, Aug 31, 2011
Slide 1: Exploring the Largest Landholding in Ghana
Exploring the Largest Landholding in Ghana AFRICA DOWNUNDER For personal use only Perth August 2011
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
Slide 3: Management and Board
For personal use only Michael Ivey - Chairman, MD & CEO Geologist, 25 years corporate, technical, exploration and mine development experience Former CEO of 300Koz pa Australian gold producer. 2002 Gold Mining Journal Mining Executive of the Year Michael Ashforth - Non Executive Director Executive di
Slide 4: Tight Capital Structure
For personal use only Issued Shares 113.5m Options (35c Dec 2011 and 40c) 4.55m Market Cap (@35c) $40m Cash (Sep 2011) $7.5 m % Issued Capital Tight Capital Structure Azumah Resources 13.4% Register includes; Lujeta Pty Ltd 8.9% Seamans Capital (Boston) Harper 7.5% Resource Capital Funds VLP
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
Slide 6: Wa Project geology map
Burkina Faso i 11°N ——_— to 8 50km | as. WA PROJECT Voltain Basin sediments [Tar] Tarkwaian Birimian s| Metasediment Kandia Gold = discovery sp Mafic volcanic flows Intrusive units, granitoids, — 10°N : [matic intrusivesmatic Konkera , granitoids 2.2Moz Gold GHANA ; —— Major fault / structure g mS a
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
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
Slide 9: South Wa target
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
Slide 10: Wa-Lawra trend
For personal use only Wa-Lawra trend (~80 strike km) has same stratigraphy as ~800,000 oz Kunche Bepkong deposits Never drilled Western area adjacent to Black Volta has variable alluvial cover sequences Conventional soils sampling largely ineffective Auger and RAB/Aircore drilling required
Slide 11: Kandia project 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
Slide 12: Kandia Artisanals Workings
Kandia Artisanals Workings For personal use only 12
Slide 13: For personal use only
For personal use only
Slide 14: Kandia Gold Prospect Drill Hole Location Plan
| T ] 597,800mE 598,000mE 598,200mE KANDIA GOLD PROSPECT Drill Hole Location Plan 2m @ 1.0g/t Au 1,104,800mN 5m @ 0.69g/t Au eee Zz iS 3 10m@ 1.04g/t Au = 10m@0.e4gitAu-——._ , , granite 15m @ 2.39g/t Au 25m @ 0.76g/t Au E z 25m @ 1.23g/t Au Sa 9 Ae _Sexctior E Se akceit aero 40m @ 1.17 g/t Au 20m @1
Slide 15: Kandia virgin gold discovery
For personal use only Virgin 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 Silica-pyrite alteration within sediments. Bounded by footwall and hangingwall
Slide 16: 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 minerals drilling 16
Slide 17: Kjersti Prospect and Koda Hill targets
Kjersti Prospect (AZM) For personal use only Koda Hill Gold targets for 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
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
Slide 19: Julie West – Jang Trend
Julie West – Jang Trend For personal use only RC drilling intersects wide zones of primary gold mineralisation; 50m @ 0.5g/t gold from surface incl. 15m @ 1.01g/t gold from 35m 56m @ 0.30g/t gold from 10m incl. 16m @ 0.56g/t gold from 50m 20m @ 0.43g/t gold from surface Phase 2 extensional and d
Slide 20: Koda Hill/Baayiri - New Discoveries
Koda Hill/Baayiri - New Discoveries 20 For personal use only
Slide 21: Julie – Jang Trend
For personal use only Julie – Jang Trend
Slide 22: 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 Immediate in
Slide 23: For personal use only
For personal use only 10m@ 0.32g/t and 5m@0.62g/t gold 55m@ 1.82g/t gold 5m@6.64g/t gold inc. 40m@ 2.02g/t
Slide 24: Julie – Jang Trend
Julie – Jang Trend For personal use only • 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)
Slide 25: For personal use only
0.04 2.14 1.07 For personal use only 0.04 1.98 2.57 0.08 1.63 0.1 1.68 3.86 2.37 0.66 0.1 0.48 1.63
Slide 26: 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 aircore Large drill focused progra
Slide 27: 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
Slide 28: 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
Slide 29: Akoko North Prospect RC Section
T 596 400mE AKOKO NORTH PROSPECT 4 AKOKO NORTH PROSPECT RC Section 559 680 mN
Slide 30: Potential for multiple uplift on exploration success
For personal use only Potential for multiple uplift on exploration success Gross Market Capitalisation (A$M) 570M 469M 279M 200 100 0 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
Slide 31: Julie West and Akoko North resource estimates
Julie West Deposit For personal use only April 2009 OK Resource Estimate 1g/t cut-off 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