Viking Ashanti Limited (ASX: VKA) Auminco Mines Limited Merger - PowerPoint PPT Presentation

Viking Ashanti Limited (ASX: VKA) Auminco Mines Limited Merger Presentation December 2013

Important Information Important Information This presentation has been prepared by Viking Ashanti Limited ( Viking Ashanti ). The information contained in this presentation is a professional opinion only and is given in good faith. This document is dated 4 December 2013 . Certain information in this document has been derived from third parties and although Viking Ashanti has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Viking Ashanti. Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Viking Ashanti. In particular, they speak only as of the date of this document, they assume the success of Viking Ashanti's strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document ( Recipients ) are cautioned to not place undue reliance on such forward-looking statements. Viking Ashanti makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Viking Ashanti and its officers, employees, related bodies corporate and agents ( Agents ) disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Viking Ashanti and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. Competent Person and Report Source Statements The information in this presentation that relates to the Exploration Results and Mineral Resources of Auminco Mines Limited is based on information compiled by Mr Matt Morgan, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Morgan is a full time employee of Auminco Mines Ltd. Mr Morgan has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Morgan consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. The information in this presentation that relates to the Exploration Results and Mineral Resources of Viking Ashanti Limited is based on information compiled by Mr Peter McMickan who is a Member of the Australasian Institute of Mining and Metallurgy. Mr McMickan is a full time employee of Viking Ashanti Ltd. Mr McMickan has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr McMickan consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. The information in this presentation concerning the Mineral Resources of Viking Ashanti is extracted from Viking Ashanti’s announcement to ASX entitled “12% increase to 790,000 oz in gold resource for Ghana Project ” dated 4 October 2013 and is available to view on Viking Ashanti’s website at www.vikingashanti.com . Viking Ashanti confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Viking Ashanti confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Currency 2 All amounts are in Australian dollars ($) unless stated otherwise.

About Viking Ashanti • Listed on ASX in May 2010 (ASX:VKA) (www.vikingashanti.com) Key Statistics – explorer and developer of gold deposits in Ghana $0.03 to $0.039 Current Price Range (21 Nov-29 Nov 2013) – Akoase Gold Project (100%) 90,150,580 Shares on Issue • near surface Inferred JORC Resource of 790,000 oz, excellent 22,683,913 Options on Issue scope for further increase in ounces $0.18; 31 Aug 2014 ̴ $3.15 M Market Capitalisation – West Star / Blue River Gold Project (100%) (as at 28 Nov 2013) • numerous ore grade / width drill hits and multiple untested gold >400 Shareholders anomalies along 17 km strike Substantial shareholders (as at 22 Nov 2013) – experienced Board with track record of successful mine Resolute Mining Limited 31.89% development in remote and challenging regions Associated with directors Jack Gardner 8.50% • Strategic objective to acquire near term production assets Peter McMickan 3.36% – achieved by purchase of Auminco Mines Trygve Kroepelien 4.50% – potential to deliver sustainable cash flow in excess of 15 Mark Newlands 0.27% years with substantial exploration upside 3

About Auminco Mines • Mongolian focussed emerging coal producer – two high quality strategically located coal projects provide opportunity for short term development, mining and cash flow • near term production potential from Berkh Uul bituminous coal project, with 41.7 Mt (21.7 Mt Indicated and 20 Mt Inferred) JORC (2004) coal resource near the Russian border, rail infrastructure and potential off-take customers • Khonkhor Zag anthracitic coal project close to China’s border - only 1.2 km of the 4 km strike has been explored by drilling – upside potential through portfolio of other coal, base metals and gold projects in Mongolia and Australia – experienced management in Australia and Mongolia with proven track records • Founded by the founding shareholders and former management of Coalworks Limited (ASX:CWK) which was taken over by Whitehaven Coal Limited (ASX:WHC) for ̴ $200 million in June 2012 • > 50% owned by ex-Coalworks management and advisers 4

Transaction Rationale Acquisition to drive a substantial increase in shareholder value to Viking • Two advanced projects - Berkh Uul and Khonkhor Zag – provides the opportunity for short term development, mining and cashflow • Upside potential from three other coal projects in proven coal basins • Spread of geographical risk – Ghana and Mongolia • Spread of commodity risk – metallurgical / bituminous coal, gold and zinc • Improved access to funding • Greater market liquidity as a result of an increased shareholder base • Broad range of complementary skill sets at Board and management level with in-country management expertise • Extensive experience in developing projects through to mines in emerging economies 5

Details of the Transaction • Shareholding – Viking will acquire 100% of Auminco by the issue of: • 81 million Viking shares Indicative Timetable • 27 million unlisted Viking options - exercisable @ $0.12 within 30 months of completion VKA announces Merger 20 Nov 2013 agreement • 3 million unlisted Viking options - exercisable @ $0.20 Due diligence period ends 15 Dec 2013 on or before 15 Nov 2016 (to an existing Auminco option holder) VKA dispatches Notice of Mid / late Dec 2013 – Post acquisition / pre capital raisings on an Meeting undiluted basis Auminco EGM to approve Early Feb 2014 • Viking shareholders = ̴ 53% transaction • Auminco shareholders = ̴ 47% VKA EGM to approve Early / Mid Feb 2014 • Board transaction VKA prospectus for capital Late March 2014 – two invitees of Auminco will join the Viking Board raising closes – two current NED’s to resign Transaction completes Late March 2014 • Conditions – customary conditions including all regulatory approvals • Unanimous support of the Boards of both companies 6