Acacia Mining plc Exploration Roundtable 11.12.2015 Exploration - PowerPoint PPT Presentation

Acacia Mining plc Exploration Roundtable 11.12.2015

Exploration roundtable Investment in exploration beginning to deliver results  Exploration historically focused on Tanzania  Mature, well explored portfolio of projects  Changed focus, in process of creating a pan-African exploration footprint  Have build a total land package of almost 5,000 square kilometres across Kenya, Burkina Faso and Mali  Over the past twelve months alone, we have signed 4 exploration joint ventures that give us access to over 2,550km 0f highly prospective geological belts in Africa  Up front costs of ~US$1.6 million to provide potential ownership of between 70% - 90%  Plan to maintain our annual exploration spend at around US$20 million  US$8 million in Kenya  US$8 million in West Africa (US$7 million in Burkina Faso, US$1m in Mali)  US$4 million will be allocated through the year on either new projects, or success based follow up  Beginning to see encouraging results in both Kenya and in Burkina Faso Exploration Roundtable 2 11.12.2015

What we look for in a project Quality, long life ore bodies that impact the bottom line  Favourable geological settings in the right regions  Belts that have delivered high quality, multi-million ounce discoveries  Emerging regions and belts  Targeting resources >3Moz that will deliver profitable mines producing >200koz/year for >10 years  Open pit mines – focus on low strip ratio and higher grades  Underground – focus on ounces per vertical metre  Discoveries that compliment and strengthen our production portfolio Exploration Roundtable 3 11.12.2015

Building a portfolio of projects Taking advantage of current market conditions to expand our footprint in the most prospective belts across Africa Tintinba Project West Kenya JV Mali Kenya  150sqkm along highly  2,200 sqkm over Ndori prospective Senegal-Mali Greenstone belt Shear Zone  Liranda Corridor showing  Initial drilling of targets best results to date planned for Q2 2016 Houndé Belt JVs North Mara Burkina Faso Tanzania  3 exploration joint ventures  Drilling to test future U/G covering 2,400sqkm of the potential below Stage 4 Houndé Belt open pit  Positive drilling on South Houndé JV project  New gold trends identified Bulyanhulu from initial soil sampling on Tanzania new projects  U/G Reef 2 drilling programme - target of 5Moz Proterozoic-Archean volcano-sedimentary belts Greenfields projects Brownfields projects Exploration Roundtable 4 11.12.2015

Exploration Greenfield Programmes Kenya

West Kenya joint ventures History and work to date  Entry into the project achieved through acquisition of Aviva Mining Kenya Ltd in November 2012  Project is made up of two joint ventures  AfriOre (Lonmin) with Acacia currently at 51% with potential to earn up to 75% equity interest  Advance Gold (Gold Rim) with Acacia having just achieved the right to 75% equity interest  Exploration undertaken since November 2012:  1,500sqkm of regional and prospect-scale mapping  37,000 soil samples (>30 gold anomalies identified & multiple geochemical corridors)  1,625 holes for 60,977 metres of scout Aircore drilling  161 reverse circulation and diamond core holes for 35,072 metres across at least 15 targets  Have spent approximately US$18 million to date on the project  Initially focusing on highest priority target – Liranda Corridor Exploration Roundtable 6 11.12.2015

West Kenya joint ventures Broad initial exploration programmes focused on identifying potential new deposits within 2,200sqkm land package Liranda Corridor Exploration Roundtable 7 11.12.2015

Liranda Corridor - February 2015 Initial Aircore programme successful in delineating several narrow vein, high-grade zones within a structural corridor Discovery Group Board Presentation 8 10.12.2015

Kundana - A potentially analogous corridor Strzelecki & K2 Shear Zone analogy - multiple shears/multiple shoots in Kundana, Australia Exploration Roundtable 9 11.12.2015

Liranda - A significant new gold corridor Multiple high grade intersections identified within 9km corridor with current focus on key 4-5km between Bushiangala and Shigokho shoots Exploration Roundtable 10 11.12.2015

Liranda – Testing depth potential of shoots Composite long section of corridor showing multiple high grade intercepts at vertical depths of up to 500m 5.8m @ 19.8 g/t Au 10m @ 17.4 g/t Au 19.8m @ 9.26 g/t Au 500m LCD0058 Untested potential 5m @ 17.3 g/t target zone 5m @ 7.4g/t 3m @ 7.29 g/t Au LCD0060 LCD0054 LCD0056 LCD0059 1.5m @ 18.6 g/t Au 1.5m @ 3.78 g/t Au LCD055 LCD0053 3.2 m @ 5.94 g/t Au 3m @ 62.3 g/t Au from 31.5m 3m @ 10.8 g/t Au from 241m 5m @ 9.02 g/t Au from 271m LCD057 3m @ 3.36g/t Au from 301m 3.4m @ 31 g/t Au from 436m 4m @ 10.2 g/t Au from 453m 6m @ 5.4 g/t Au from 461m 6m @ 19.4g/t Au from 473m H2 Planned DD Pierce Points Hole completed (results pending) Hole completed Hole ongoing Hole planned Composite long section: width of section approximately 400m north-south indicative of the position of intersections and of shoots from multiple vein structures along 6km corridor (east to west)  Exploration Roundtable 11 11.12.2015

Cross sections of Bushiangala and Acacia Multiple high grade vein systems, which have the potential to occur “blind” or below weak near -surface anomalies Bushiangala Shoot Acacia Shoot 500m 500m Exploration Roundtable 12 11.12.2015

Interpreted lode geometries Multiple high grade mineralised structures associated with significant sericite-carbonate+/-fuchsite-pyrite alteration and moderate shearing Acacia Bushiangala Exploration Roundtable 13 11.12.2015

Liranda – 2016 planned programme Initial 40,000 metre drilling programme planned to infill key shoots to between 80-160m spacing #64 500m #63 #60 #62 #58 #61 #59 H2 Planned DD Pierce Points Hole completed (results pending) Hole completed Hole ongoing Hole planned  Composite long section: width of section approximately 400m north-south indicative of the position of intersections and of shoots from multiple vein structures along 6km corridor (east to west) Exploration Roundtable 14 11.12.2015

West Kenya joint venture projects Progress summary  Extensive regional exploration following commencement of field programmes in 2013 have identified numerous targets and gold trends  Aircore drilling and prospect scale mapping led to a number of prospects being prioritised for RC and diamond core drilling during 2014 and 2015  Significant gold mineralisation has been intersected at a number of prospects  In the Liranda Corridor a number of prospective shoots were identified along a structurally complex shear corridor with several very encouraging high grade intersections to 500m vertical depth  2016 programmes focus on delineating if mineable mineralisation exists within several shoots along the Liranda Corridor  2016 planned spend of US$8 million  Removed potential $10 million future liability for delineation of >3Moz resource for nominal cost  Key to advancing the project will be the evolution of the new Kenyan Mining Bill and government policy around mining Exploration Roundtable 15 11.12.2015

Exploration Greenfield Programmes West Africa

Burkina Faso – Houndé Belt Houndé Belt emerging endowment through significant gold discoveries  Houndé Belt emerging as a significant gold belt  Multiple types and styles of gold deposits with differing host rocks and metallurgical characteristics  Grades vary from deposit to deposit by with notable high grade zones over significant strike and dip  Recent discoveries include Siou (Semafo), Bagassi – Zone 55 and 55 South (Roxgold) and Tankoro (Sarama – South Houndé JV partner).  South Houndé historic resource of 1.5Moz at 1.6g/t at a 0.8g/t cut off grade  Acacia has now acquired 3 projects under joint venture for 2,400sqkm in southern Houndé Belt  2016 Budget – US$7 million Exploration Roundtable 17 11.12.2015

Houndé Belt – Regional joint venture progress Multiple structural domains with extensive surface gold anomalies currently being delineated Soil sampling coverage of licence areas On Acquisition Current  11,313 soil samples  284 line kilometres of IP  818 square kilometres of magnetics  Over 40,000 metres of Aircore, RC and Diamond drilling on the South Houndé project  Resulted in extension of known gold trends and delineation of new multi- kilometre gold anomalies across all projects Exploration Roundtable 18 11.12.2015