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Citigold Corporation LimitedAustralian Gold Mining Company

June 2008

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Disclaimer

This presentation is intended to provide general information and is not intended to constitute legal, financial, accounting, tax, investment consulting or other professional advice or services. The information that is not about Citigold Corporation is collected from various sources, most of which do not guarantee or warrant correctness. Whilst the information has been collected with reasonable care, Citigold does not guarantee or give any warranty as to its correctness. Although the information has been obtained from sources considered and believed to be both reliable and accurate, no responsibility is accepted for any opinion expressed or for any error or omission in that information. Citigold shall not be liable for any special, direct, incidental, consequential or punitive damages or any other damages or loss whatsoever whether in an action of contract, statute, tort (including without limitation, negligence) or otherwise relating to the use of this presentation or information

The following statements apply in respect of the information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves: The information is based on, and accurately reflects, information compiled by Mr Christopher Alan John Towsey, who is a Corporate Member of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. He is a geologist and employed by Citigold as Chief Operating Officer. Mr Towsey has relevant experience in relation to the mineralisation being reported on to qualify as a Competent Person as defined in the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves. He has consented in writing to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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ContentsContents

Section 1 Introduction

Section 2 Citigold’s Expansion Plan

Section 3 High Grade Gold Deposit

Section 4 High Grade Gold Production

Section 5 World Gold Market

Section 6 Financial Information

Section 7 Why Invest In Citigold

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Section 1: Introduction

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Introduction

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Ass

ets

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1993 1996 1999 2002 2005 2006 2007

Year

Growth of Assets

1. Gold producer and explorer, founded in 1993

2. Operations all on Charters Towers goldfield, Nth Qld, 100 km from coastal Townsville.

3. Corporate office in Brisbane.

4. Audited assets of $190m (30 December 2007).

5. Public listed on Australian Stock Exchange (ASX) and Dubai Stock Exchange (DIFX).

6. Gold production rate $15 m/yr (16,000 ozs), target $250million/yr (300,000 ozs).

7. Gold deposit 10,000,000 ozs (23 million tonnes at 14 g/t) Inferred Mineral Resource.

8. Gold deposit potential upside to 50,000,000 ounces with further drilling.

9. Mine life targets over 30 years of gold production.

10. Key mine area covers a 5 x 10 km, surrounded by 300 km2 of exploration ground.

11. Management is dedicated to growing low cost gold production through efficient investment of shareholder funds.

12. Citigold is an asset growth company (short term) and cash generator (long term).

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Mark J Lynch, FAICD - Managing Director - Private and public gold exploration and mining companies for 28 years. Specialises in innovation, strategic planning and driving the business forward for shareholders. Fellow of the Australian Institute of Company Directors.

John J Foley, BD, LLB (Syd), BL (Dub) –Chairman (non-exec) - Barrister since 1971. 30 years experience in the gold mining industry, Former Director of the Australian Gold Council

Terence V Willsteed - BE(Mining) Hons (Qld) BA FAusIMM MMICA MSME –Director (non-exec). Mining engineer. 1st Class Mine Manager's Certificate, 48 years experience mining operations, corporate management.

Matthew Martin, BComm CA. - Chief Financial Officer & Company Secretary - 9 years experience in Australia & London in forensic accounting, auditing, business & funds management

Christopher A J Towsey, MSc BSc(Hons) DipEd FAusIMM MMICA MAIG MAICD MAIG. - Chief Operating Officer – Geologist, 30 years experience including BHP,MIM, Emperor Mines and Century Resources

Mr Garry E Foord, Assoc Dip (Mining Eng) Dip Geoscience MEng(TM) MAIMM. –General Manager Engineering - Mining engineer, 24 years experience First Class Mine Managers’ Certificate. Formerly General Manager Hillgrove

Management Team

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Section 2: Citigold’s Expansion Plan

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1. Detailed plan in place to lift gold output rate to –– 100,000 ozs/year in 2009, and– 300,000 ozs/year in 2012.

2. Expansion program requires initial investment of A$30m in underground mine expansion and balance of growth can be self funding.

3. Production will grow progressively from 2nd half 2008.

Citigold’s Expansion Program

Charters Towers South

Charters Towers City

(phase 1)

Charters Towers City

(phase 2)

Charters Towers City

(phase 2)

200,000 ounces

200,000 ounces

Known growth over coming 3-4 years

Exploration success &

acquisitions

Plus

Major Plant and Equipment

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Section 3: High Grade Gold Deposit

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330,0003.5g/t13800,000Probably Ore Reserves (contained within Indicated Mineral Resource

370,0003.5 g/t15740,000Indicated Mineral Resources (includes Probable Ore Reserve)

10,000,0003 metre-grams p/t13.523,000,000Inferred Mineral Resources

Contained ouncesCut OffGRADE g/tTONNESJORC Category

1. Australia’s largest Bonanza gold deposit.2. Calculations based on over 1,850 holes drilled.3. High grade reserves at 13g/t.4. Gold deposit starts 120 metres from surface.5. Gold deposit proven to 1,200 metres depth.6. Gold deposit probably extends to 2,000 metres depth.7. Drilling underway to upgrade Resources into Reserves.8. Upgrade targets Reserves 1,000,000 ozs 2008 and 2,000,000 ozs in 2009.9. 10,000,000 oz Resource expect 80% to convert to Reserves over time.10. Resource upside potential to over 50 million ounces.

Our Gold Deposit

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Bonanza deposits are gold deposits over 10g/t tonne that yield over 5 million ounces.

Giant gold deposits are very rare.

CHARTERS TOWERS GOLD DEPOSIT

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Yellow Lines = stoping areas increase along strike as reefs mined deeperOrange Lines = widening 'iceberg' appearance of the stoped areas

The area we are developing at Charters Towers South (Warrior reef) is performing similar to the parallel historic Central (Brilliant Day

Dawn reef) where mining produced big part of past 6,600,000 ozs

Reef Widens as Mine Deepens

Surface

800+ METRES UNDERGROUND

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2 metres @ 75 g/t (2.4 oz/t)

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Bonanza Grade Gold Ore

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Section 4: High Grade Gold Production

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(a) Bonanza deposits are gold deposits over 10g/t tonne that yield over 5 million ounces

Production & Costings

1. Plan increase gold output to 100,000 oz/yr rate in 2009

2. Clear strategy to take gold output to 300,000 oz/yr.

3. Low cost gold production –currently A$488/oz from lower grade development ore.

4. Costs will fall as production and ore grades increase.

5. Forecast reduce to A$350/oz.

6. Revenue budget at A$850/oz.

7. Mine life over 30 years.

Forecasted break up of cash cost of gold

production

Mining 66%

Diamond Drilling 8%Corporate

Costs 3%

Mine Admin 6%

UG Oresorting

3%

Ore Transport

3%

Processing 11%

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Production & Costings

1. Forecasts anticipates profit margin 50% of Revenue.

2. No income tax first 3 yrs due to carried forward losses.

3. A low cut-off grade of 3.5 g/t means buffer if future gold prices soften.

4. Citigold expects gold output rate of 100,000 oz/yr by end of 2009 and further building gold output rate to 300,000 ozs/year in 2012.

5. Forecasts indicate that at full planned production rate revenueless all costs translate to freecash flow of over$100,000,000 per year.

6. Mine life of over 30 years.

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1. Development of the Charters Towers gold resource is based on two centralised underground access tunnels (declines), South and Central area, with horizontal tunnels connecting several parallel reefs.

2. Gold is currently sourced from the Warrior reef, which is accessed via a 5 metre x 5 metre decline tunnel.

3. The gold quartz ore bodies are geologically separate from the surrounding rock and so are easy to extract.

4. To date mining has been largely limited due to power shortage and absence of depth.

5. State grid power source upgrade occurring this June 2008 and with mining now below depth of 200 metres means gold production can increase later in 2008.

6. Gold extraction plant is located 10km from Charters Towers, is a major facility and is not a limiting factor on current or future gold output.

Production & Mining Process

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(a) Bonanza deposits are gold deposits over 10g/t tonne that yield over 5 million ounces

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A decline is developed parallel to the ore body, this is the main haulage route and remains open for the life of the mine

When the decline reaches the planned level (currently 15 vertical metres) cross cuts are made from the decline to the ore bodies

Once the cross cut reaches the ore body a level drive is developed. This ore, however, is diluted due to the size of the ore body and the width of the drive

When the drive is completed the gold reef is mined between the levels, this is called long hole stoping and results in the high grade ore coming out of between the levels undiluted

Summary of stages in mechanised mining

Citigold adopts a mechanised mining method to efficiently extract the gold ore

Citigold’s Mining Technique

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Section 5: World Gold Market

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• World gold production has declined in recent years.

• There have been very few recent significant sized gold discoveries or new large mines developed to replace this fall in production.

• In 2007, China marginally surpassed production from any other single country.

• Top producers in 2007, producing similar levels (~270 tonnes year or 11% each):

• China – Australia – South Africa - USA

World Gold Supply Falling

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Gold Demand Climbing

• In tonnage terms, 2007 demand was 4% higher than in 2006, however value was up by 20%.

• 2007 gold supply remained tight, falling 3% in tonnage terms.

• Jewellery fabrication consumes more gold on average than new gold mine production.

• Estimated Central Bank held gold has fallen from 37,000t in 1965 to 26,000t.

• Central Banks’ influence on the gold market is decreasing because volumes held is falling.

• at US$900/oz, the value is only US$750 billion, compared to China’s foreign exchange reserves of US$1.6 trillion.

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Section 6: Financial Information

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(a) Bonanza deposits are gold deposits over 10g/t tonne that yield over 5 million ounces0%

100%

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300%

400%

500%

600%

700%

2000 2001 2002 2003 2004 2005 2006 2007 2008

ASX 200 CTO AU

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39%Top 20

A$200 million Market Cap (30/05/08)

31,260,716Options #

678,644,974Ordinary shares 15%Directors & Mgt

~10%Institutions

8,860Shareholders

~75%Retail

Citigold Corporation Limited was established in 1993 by prospector and businessman Jim Lynch. The company was listed on the ASX in December 1993 and on the DIFX in 2007

Citigold Capital Structure

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March 08 Quarter Report

The Highlights for the Quarter include:

• Revenue Increased 30% to A$4.16 million

• Gold produced Increased 11% to 3,913 oz

• Underground Development Increased 2% to 675 metres

• Mill recovery 98%

• Cash operating cost A$488 per ounce

• Average gold revenue A$1,026 per ounce

• Fifth quarter of continuous revenue growth

• Equipment fleet expansion continues

• Mining systems and procedures on strong footing

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Future Growth Plans

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2009 2010 2011 2012 2013 2014 2015 2016

A$

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Revenue

Total Costs

Total Costs inc. Tax

* Assumes A$850/ ounce gold revenue

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Section 7: Why Invest in Citigold

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1. Access to a single efficient mine and deposit that is large to generate a lot of cash over a long period for shareholders.

2. Gold production underway so therefore the mine has all permits in place and operating, including environmental licenses.

3. Gold deposit is large enough to build a profitable business, repay capital and then generate a cash flow for many years without having to keep ‘buying’ new gold in the ground.

4. The major gold extraction plant is built and recovering gold.

5. The growth of gold Reserves is a simple process of ongoing drilling of gold Resources to upgrade them to Reserves.

6. A rare giant gold deposit with JORC compliant Resource of 10,000,000 ozs of gold and upside to 50 million ounces based on adjacent similar reefs that are not yet drilled or only partially drilled.

7. Past historic gold production is reliable template for current mining.

8. Low cost gold producer due to high grades, large size, simple geology and adjacent town workforce of 8,500 people.

Value Differentiators

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(a) Bonanza deposits are gold deposits over 10g/t tonne that yield over 5 million ounces

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Ounces in the ground & gold grades, in comparison with otherselected Australian gold miners

Value Upside of Gold Asset

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Value of gold in the ground by market cap of selectedAustralian gold miners

Value Upside of Gold Asset

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Thank you

for further information visit

www.citigold.comCitigold Corporation Limited, PO Box 1909, Milton, QLD. Ph 07 3870 8000, email info@citigold.com