Orsu Metals Corporation A N A New Base & Precious Metal B & P i M t l Mining, Development & Exploration Company AIM: OSU AIM: OSU TSX: OSU TSX: OSU www.orsumetals.com www.orsumetals.com 1
Cautionary Note This presentation may contain forward-looking statements relating to the future performance of Orsu Metals Corporation. Forward-looking statements are subject to certain risks and uncertainties, and actual t t t bj t t t i i k d t i ti d t l results may differ materially. These risks and uncertainties are detailed from time to time in the company’s filings with the appropriate securities p y g pp p commissions. All statements other than statements of historical fact, included herein, including without limitations, statements regarding potential mineralisation and exploration results mineralisation and exploration results, production timing and cost production timing and cost estimates, anticipated permitting results and timing and future plans, actions and objectives and achievements of Orsu Metals Corporation are forward-looking statements based on the estimates and opinions of Orsu Metals Corporation’s management at the time the statements were made. made. 2
Financial & Management Overview OCTOBER 2008 Shares Outstanding (TSX:OSU) (AIM:OSU) Capitalisation Table US$ million 456,934,226 issued shares as of 22/09/2008 Share price ( CAD$0.29 as of 22/09/2008) 637,296,746 fully diluted shares Major Shareholders Major Shareholders Shares outstanding 456,934,226 Shares outstanding 456 934 226 Options 44M @ C$0.35 - C$1.26 Charlemagne Capital JP Morgan Warrants 136M @ C$0.75 - C$1.50 Roytor & Co Endeavour Financial Market Capitalisation ~ CAD$132M Canaccord Capital Corp. Bay Pond Partners Dr Sergey V Kurzin, British/Russian : Executive Chairman . Russian-born research engineer who moved to the United Kingdom in 1990 and has played a key role in initiatives to acquire and progress several important FSU mining assets including Bema Gold, UrAsia Energy, Oriel Resources and European Minerals. Takhirzhan T Baratov Kazakh : Executive Director Central Asia General Director of Oriel subsidiaries Muzbel LLP Takhirzhan T Baratov, Kazakh : Executive Director Central Asia . General Director of Oriel subsidiaries, Muzbel LLP and Voskhod-Oriel LLP. Involved with the mining industry since 1994. Advised and consulted UK and Canadian public companies and director of a number of JVs in Kazakhstan. Dr. Alexander Yakubchuk, Russian : Director of Exploration. Exploration Manager, consultant & geologist with +14 years worldwide experience Recently Exploration Manager Europe and CIS for Gold Fields Discovered the years worldwide experience. Recently Exploration Manager, Europe and CIS for Gold Fields. Discovered the +3Moz Degdekan Au Deposit in Magadan, Russia and +5Moz Taldybulak Au-Cu deposit in Kyrgyzstan Randy Reichert, Canadian: COO . Previously Oriel Resources’ COO & was in charge of the commissioning & operating the Tikhvin ferrochrome smelter, Russia; spent over 5 years in Russia with Bema Gold as General Manager, Operations of the Kupol & Julietta gold mines in Chukotka and Magadan. g , p p & g g Petro Mychalkiw, British: CFO. Regional Finance Director of Oriel Resources, Kazakhstan in charge of tax planning, contract negotiations, financial reporting; secured 2006’s US$120m project financing deal for the Voskhod chrome project; Oriel’s Treasurer & Head of Corporate Finance. Mark Corra, Canadian : Non-Executive Director. Mr Corra holds the position of Senior VP Finance and CFO of Mark Corra, Canadian : Non Executive Director. Mr Corra holds the position of Senior VP Finance and CFO of B2Gold Corp. Previously he worked for 17 years with Bema Gold Corporation. A Certified Management Accountant with a diploma in financial management from the British Columbia Institute of Technology, Mr Corra currently oversees financial reporting, cash management, tax planning and is a member of the management 3 committee for B2Gold Corp.
>3Moz Au and >1Mt Cu Deposits Orsu Cu and Au projects 4
Project Locations & Company Objectives Project Locations: Project Locations: - Focussing on Former Soviet Union countries, primarily Kazakhstan & Kyrgyzstan Focussing on Former Soviet Union countries, primarily Kazakhstan & Kyrgyzstan Objectives: - To fast track a vertically-integrated gold and base metal producing and exploration company - Attain significant capital growth in 3 years - To achieve commercial production at the Varvarinskoye Mine in Kazakhstan - Definitive Feasibility Studies with two exploration projects (2009-2011) - Strong alliance with Gold Fields Exploration B.V. in Kyrgyzstan - Identify, acquire and develop advanced stage projects which can be taken to DFS in 2 to Identify acquire and develop advanced stage projects which can be taken to DFS in 2 to 3 years after acquisition using an experienced exploration and development team KAZAKHSTAN Karchiga Cu VMS Deposit (47.3km 2 ) LONDON 374Mlb Cu Ind + Inf NI 43-101 Resource Corporate Head Office and Excellent Exploration Potential KAZAKHSTAN Varvarinskoye Au-Cu Skarn Deposit (202km 2 ) KAZAKHSTAN Varvarinskoye Au-Cu Skarn Deposit (202km ) 2.2Moz Au + 254Mlb Cu Prov + Prob JORC Reserve in 5.01Moz Au + 607Mlb Cu Meas + Ind JORC Resource Start-up mine KYRGYZSTAN Talas Project (347km 2 ) KYRGYZSTAN Talas Project (347km ) +20Moz Exploration Target Exploration Agreement With Gold Fields Exploration B.V. Taldybulak Cu-Au Porphyry 4.6Moz Au + 793Mlb Cu Ind + Inf NI 43-101 Resource KYRGYZSTAN Tokhtazan Project (4km 2 ) ~1Moz Resource & Upside Potential Not to scale 5
Varvarinskoye Mine 6
Varvarinskoye • Start-up operation: November 2007 St t ti N b 2007 • Proven & Probable Reserve: 2.2Moz Au & 254Mlb Cu IN • Measured & Indicated JORC Resource: 5.01Moz Au & 607Mlb Cu • Construction completed Construction completed • Production has started, although requires tuning • 80% capacity achieved 80% it hi d • 21koz Au and 3.5Mlb Cu produced by 01.09.2008 • Commercial completion Q1 2009 7
Varvarinskoye Operations & Production • Multi-pit surface mine, standard western equipment and mining practices, overall strip ratio 4.17:1 for life of project • Mill, standard processing technology, western equipment • 4 types of ore mined, 2 types of processes yp , yp p • Copper-gold concentrate and gold doré produced • Ramp-up phase Ramp up phase • Design capacity of 4.2mtpa (3.0mtpa leach, 1.2mtpa Cu-Au Con) • 2009 Production estimated to be: 147,000 ounces Au & 13,000 tonnes of Cu concentrate (30mlb) • • 2010 Production estimated to be: 132,000 ounces Au & 9,000 tonnes of Cu concentrate (20mlb) , , ( ) • 8
Varvarinskoye Pits 9
Varvarinskoye Mining & Processing 4.2Mtpa • 2 processes or streams Flotation-concentrate • production (HGC) p ( ) • 155tph or 1.2mtpa of sulphide ore sulphide ore • Whole-ore leaching – CIP – doré Wh l l hi CIP d é production (LGC) • 385tph or 3.0Mtpa of sulphide and minor amount of oxidized ore 10
Karchiga within Rudny Altai Cu VMS Belt RUSSIAN FEDERATION � Kazzinc/Glencore Smelter � Ust-Kamenogorsk � � KAZAKHSTAN MONGOLIA � KARCHIGA Kazakhmys Smelter � CHINA Bishkek 11
Karchiga Highlights 28 Feb 2007 exploration and mining contract granted by Kazakh Gov’t • Exploration licence covering 47.3km 2 • 2007 Exploration programme (US$800,000) resulted in NI 43-101 resource • (0.30% Cu cut-off): Indicated + Inferred resource - 8.19Mt @ 2.07% Cu • 374Mlb Cu contained • Additional exploration targets identified • 2008 Exploration programme (~US$3 million) started in June 2008 • designed to con ert e isting reso rce and to increase reso rce designed to convert existing resource and to increase resource >9,000m drilling programme • IP geophysical & geochemical survey IP geophysical & geochemical survey • • Micon was contracted to complete the scoping study by end 2008 • 12
Karchiga Geology & Licence Area Karchiga Karchiga Zmeinogorsk Zmeinogorsk Karchiga SE Karchiga SE Central Geochem Anomaly Mafic intrusive Complex South Anitcline Prospect Slasovoky Fault Quartz Mica Shist Location of 47 3km 2 licence area Location of 47.3km licence area 13
Karchiga Cu VMS Deposit 14
Karchiga NI 43-101 Compliant Resource Indicated (Sulphide) Inferred (Oxide + Sulphide) Total Indicated + Inferred Cut-off (%) Tonnes (Mt) Cu (%) Copper (Mlb) Tonnes (Mt) Cu (%) Copper (Mlb) Tonnes (Mt) Cu (%) Copper (Mlb) Cu 0.30 5.1 2.32 261 3.09 1.67 113 8.19 2.07 374 15
Karchiga Project Timeline Activity 06 2007 2008 2009 Lero acquired 70% 2007 work programme Geochem, geophysics g y 1,879m drilling Updated Resource JORC Geochem results target gen 2008 work programme Met testwork Scoping study Exploration/resource drill out Measured-indicated resource Measured-indicated resource PFS/DFS 16
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