South America Region – Chucapaca Project Investor Visit – Lima, Peru Day 1 | 14 November 2011
Forward Looking Statement Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance reasons; and the impact of the AIDS crisis in South Africa. These forward looking statements speak only as of the date of this document. The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events. 2
Safety Safety is our number one value and comes before all else � If we cannot mine safely, we will not mine � 26 months without LTIs � More than 2.5 million man hours worked without LTI 3
Project Team Experienced project team � Recently appointed Vice President – Concept and Studies � Matt is a geologist with broad experience from greenfield exploration, mineral resource management through to mining Matt Dusci Exporation Manager � He has been General Manager for Minera Gold Fields Perú since 2008 and has also been involved in the Chucapaca Project since the discovery � Between 2004 and 2007, Matt was responsible for various exploration and mining projects in South America � Federico is a mining engineer with 28 years of mining experience, performing managerial positions since 1995 Federico Schwalb � He was involved in the development of the Yanacocha mine in 1992 and was appointed General Manager for the mine in 2002 General Manager � Federico also led the feasibility study of Vale’s Bayóvar phospate project � A mechanical – electrical engineer by profession, John has been working in the mining industry since 1975 performing engineering for underground John Hawxby and open pit mining projects Project Director � Past experience includes design and project management for mines in Zimbabwe, Ghana and other countries in Africa � Manuel has more than 30 years of experience in the mining industry, with emphasis on mine optimisation, planning and project development Manuel Villanueva Mining Manager � He was the former Manager of the Feasibility Study for Pan-Pacific Copper’s Quechua project in the Peruvian Southern Andes � Peter is a forest engineer and former Environmental, Health, Safety and Community Relations Manager in Pluspetrol Norte. Peter Orams Environmental Manager � He also worked at the Yanacocha mine as the External Affairs, Environmental and Social Relations Manager and Special Projects Manager � Javier’s experince includes numerous Community Relations and Sustainable Development positions in global mining companies which inlcude Javier Escudero External Affairs Manager Antamina and Rio Tinto, as well as in the Natural Gas Liquefaction Project with PERU LNG and COLP (part of Hunt Oil) 4
Joint Venture Both joint venture partners have an excellent track record of developing projects in Peru � Gold Fields , with 51% interest in the joint venture, operates the project � Buenaventura , a major player in Peru’s mining industry for more than 40 years, owns the remaining 49% of the project 5
Geology & Mineral Resource
Chucapaca Project – Location Titicaca Lake Cerro Corona AREQUIPA 19 16 6 Chucapaca JV 3 (CDH) PUNO Chucapaca Project TITIRE MINING CONCESSIONS Gold Fields Canteras del Hallazgo SYMBOLOGY Town ! . MOQUEGUA Capital of Department Main Road Affirmed way Dirt Road BOLIVIA Pacific Ocean TACNA GRAPHIC SCALE CHILE 7
Physiography (DTM) Titicaca Lake Cerro Corona 19 16 6 Chucapaca JV 3 (CDH) Chucapaca Project TITIRE MINING CONCESSIONS MINING CONCESSIONS M S Gold Fields Canteras del Hallazgo SYMBOLOGY Town ! . Capital of Department Main Road Affirmed way Dirt Road BOLIVIA ELEVATION (masl) 5500 Pacific 5000 4500 Ocean 4000 TACNA 3500 GRAPHIC SCALE 3000 CHILE 2500 8
Mineral Deposits LEGEND Quaternary Lakes Alluvial deposits Glacial - fluvio-glacial deposits Titicaca Cenozoic Lake Late Miocene - Recent volcanic arc (andesite) Paleogene andesite intrusion Miocene rhyodacite rhyolite intrusion Miocene lacustrine sediments and tuffs AREQUIPA Continental sedimentary rocks and andesite Eocene – Miocene andesitic lavas and volcaniclastic Paleocene - Eocene conglomerates redbeds Chucapaca JV Mesozoic Cretaceous intermediate volcanic arc (CDH) Cretaceous - Paleogene granitoid Coastal Batholith PUNO Cretaceous - Paleogene monzonite Coastal Batholith Cretaceous limestones and calcareous sedimentary Cretaceous continental sedimentary rocks Cretaceous epicontinental - continental sedimentary Jurassic sedimentary rocks with limestones Jurassic sedimentary rocks Jurassic limestones Jurassic intermediate lavas and volcaniclastic Paleozoic Paleozoic sedimentary and metasedimentary Precambrian MOQUEGUA Precambrian metamorphic basement Structures Faults Deposit Type BOLIVIA " ) HS " ) IS Pacific " ) LS Ocean ! ( Porphyry Cu-Mo TACNA ^ _ Sediment Hosted - Carbonate GRAPHIC SCALE G F Gold Veins - Mesothermal CHILE 1 $ Sn-Sb Bolivian Type 9
District Geology Canahuire Chucapaca Domes Complex 10
Canahuire Deposit View Looking West Diatreme breccia Hualhuani Fm. Complex Gramadal Fm. Gramadal Fm. Chucapaca dome Labra Fm . complex Looking to West 11
Timeline to Discovery 12
Canahuire Resource Definition Drilling GF Phase 2 (July 2010 – Oct 2011) Total Meters – 72,089m 24,000 GF Phase 1 (June 2009 – June 20,000 2010) Total Meters – 15,235m Drill Metres 16,000 BVN (July 2008 to May 2009) 12,000 Total Meters – 7,056m 8,000 4,000 - BVN Phase 1 Total Drill Metres (including support related) Phase 2 98,615m Resource Definition Drilling on Canahuire Deposit 13
Major Intercepts C CCP10_088 CCP10_103 CCP09_060 CCP09_052 131.9 m @ 3.29g/t 131. 131 163.50 m @ 3.71g/t 48.0m @ 18.71g/t 38.9m @ 10.1g/t Au Au Au Au DRILLING Buenaventura Gold Fields : 2009 - 2010 009 - 2010 CCP11_280 Gold Fields : 2010 -2011 010 -2011 76.0m @ 7.71g/t Au CCP11_295 CCP1 1_29 95 72.7m @ 72.7m @ 7.20g/t @ 7.2 20g/t A Au Au CCP10_137 62.2 m @ 5.23g/t Au CCP11_181 175.5m @ 2.50g/t Au CCP10_12 CCP10 12 CCP10_129 29 29 36.2 36.2 m @ 12.56g/t 2 m @ 12. 56g/t Au Au CCP11_174 42.55m @ 11.89g/t Au CCP09_028 44.05m @ 8.95g/t CCP10_153 CCP10_112 CCP10_112 Au 58.7m @ 4.76g/t Au 127.25m @ 2.93g/t 27.25m @ 2.93g/t CCP10_106 and Au and Au and 75.45 m @ 7.56g/t 56.1m @ 26.45g/t 89.4m @ 6.68g/t Au 9.4m @ 6.68g/t Au Au Au 14
Canahuire Deposit Cross Section 300W Silver (Breccia -BXP Gold (Replacement in limestone – CAL) Gold and Copper (Breccia – BXPS) Au (g/t) - Left Cu (ppm) - Right ≥ 5 ≥ 3,000 Gold (Replacement in 2 - 5 2,000 - 3,000 1 - 2 1,000 - 2,000 limestone and 0.5 - 1 400 – 1,000 0.3 – 0.5 < 400 0.1 – 0.3 structure – CAL) < 0.1 LEGEND Fault Certain Fault Inferred RCC – Colluvial (Quaternary) BXP - Polymictic Breccia with Juvenile Clast BXPR - Polymictic Breccia with Rhyolite Clast BXM - Monomictic Breccia BXPS - Polymictic Sedimentary Clast IRH - Rhyolite (Dyke/ Dome) HSC - Sandstone and Shale (Hualhuani Fm.) SSQ - Quartz Sandstone (Hualhuani Fm.) CAL - Limestone (Gramadal Fm.) CSC - Sandstone and Shale (Gramadal Fm.) SMC - Sandstone and Shale (Labra Fm.) 15
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