rmg exploration and mining investment conference

RMG Exploration and Mining Investment Conference

November 20-21, 2012

Disclaimer

Statements and assumptions made in this Presentation with respect to Auriant Mining AB’s (“Auriant”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Auriant. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect Auriant’s management's expectations and assumptions in light of currently available information. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecasted in this Presentation. Auriant do not assume any unconditional obligation to update any such statements and/or forecasts immediately.

Auriant Presentation 2

Summary

• Company

• New Board and Management team

• Projects

• Operations

• Summary


Our major shareholder has supported the company through the critical development stage

2012 Share Price (SEK)

52,87%

6,22%

5,28%

4.48%

2,84%

28.31%

Bertil Holdings Ltd

Swiss Life (LIECHTENSTEIN) AG

CGML IPB Customer Collateral AC

GKL GROWTH CAPITAL AB

Swiss Life (LIECHTENSTEIN) AG

Other shareholders

Auriant Shareholder Structure

Auriant Debt Structure as of 01/09/12 (at FX rate RUB 32/USD)

Bank loan $16.8 million Bank debt partly restructured in July 2012

Shareholder loan $27.5 million 100% provided by our major shareholder in 2011 and 2012.

Total $44.3 million

• Market cap. as of 01/09/2012: $42.2 Million

• Total issued shares: 17,616,987

4

Shareholder Information

Tardan commissioning

Board


Ingmar Haga (NED) • Ingmar joined Agnico-Eagle as Managing Director, Europe, in March 2006 and was appointed Vice-President, Europe, in July 2006.

• He has held various executive and corporate positions with the Outokumpu Group in Finland and Canada. Prior to joining Agnico-Eagle, Ingmar was President of Polar Mining Oy, a Finnish subsidiary of Dragon Mining NL of Australia. He is a graduate of Abo University.

Denis Alexandrov CEO • Denis joined Auriant as CEO having previously held senior positions in two Russia-focused investment companies. From 2001 to 2003 he was CFO of Highland Gold Mining plc , following five years at Alfa Group in London. Previously he was with Pricewaterhouse Coopers. His Board appointments have included Timan Oil and Gas, Stellar Diamonds, Systematika Group, Remet and Silver Bear PLC.

• Denis holds an MBA from Moscow School of Management (Skolkovo).

Andre Bekker (NED) • Andre, a citizen of South Africa, is curently an Executive Officer of Sylvania Platinum, a position he has held since 2011. Through the years he has been involved in a number of mining companies and with the Industrial Development Corporation of South Africa. He is also an experienced non-executive director, having served on the boards of two listed South African companies.

• Andre Bekker has B Sc (Hons) from the University of Free State and a management diploma from Unisa. He is a member of the Geological Society of South Africa.

Preston Haskell Chairman (NED) • Preston has been active as a businessman in Russia since the early 1990s. A Board member of Fleming Family and Partners Real Estate Development Fund Ltd, he is also actively involved with the management of LLC Haskell Group , of which he is the owner.

• Preston holds a degree in Economics from the University of Southern California.

Lord Peter Daresbury (NED) • Peter Daresbury has held many senior positions, including from 1997 to 2000 as CEO of Greenalls Group. Peter Daresbury has served as Non-Executive Chairman of Kazakhgold Group Ltd. from 2005 to 2007 and Executive Chairman of Highland Gold from 2002 to 2004. Peter is currently Chairman of Mallett PLC, Aintree Racecourse Ltd and Nasstar PLC.

• Current directorships include Bespoke Hotels Ltd, Rusant Ltd and Pesto Restaurants. Since 2005, Peter Daresbury has been a member of Fleming Family and Partners Private Equity Investment Committee.

• Peter Daresbury has B Sc in history from Cambridge University.

Current Members

Proposed members (subject to Nov.27 EGM confirmation)

6

6

Denis Alexandrov Chief Executive Officer

Previous experience: • Leading positions in Investment companies

A1 and Arlan • Financial Director and Board member of

Highland Gold mining plc. • 5 years work s in Pricewaterhouse Coopers • Board member of Timan Oil and Gas,

Stellar diamond, Systematika Group, Remet, Silver Bear PLC.

Education: • Far Eastern State University, Maryland

University • Executive MBA, Skolkovo, • ACCA, UK

Max Yacoub Chief Investment officer

Previous experience: • Work on investments, private equity and

economic reform issues with the Governments of Belarus and Ukraine

• Head of Office Belarus for the IFC • Investment Officer in IFC focusing on gold

mining investments in Russia and the CIS

Education: • MBA, Harvard Business School • B.Eng, Manufacturing, University of

Birmingham • B.Comm, Economics, University of

Birmingham

Mihail Fedulov Chief Financial Officer

Previous experience: • Head of strategic development department,

Russian Mortgage Bank • Senior consultant in corporate finance dept.

in Deloitte, Pricewaterhouse Coopers • Senior in Audit dept, Ernst & Young

Education: • BA, Amsterdam School of Business • BA, Plymouth Business school

Ekaterina Babaeva Group Legal Counsel Previous experience: • lawyer in a company providing audit and

legal advisory services • focus on Russian and international

corporate and M&A matters • experience in real estate and mining law.

Education: • Law Department of Moscow State

Lomonosov University

Sergey Shumilov HR Director Previous experience: • HR Director, Branch, Lafarge Cement • Executive Coach in the Centre for Creative

Leadership • Wide experience in Performance

management and coaching

Education: • Higher education in radio engineering in

Saratov State Technic University

Vladimir Churin Main Geology Exploration Previous experience: • Top geological positions in Kinross,

Altynalmaz, Oxus Resources Corporation, Severstal-Resurs

• Wide experience in geology in Russian companies, as well as international joint ventures

Education: • Higher education as Quarry engineer –

geologist in St. Petersburg Mining Institute

• Extension courses in USA

Executive Board

Moscow

Stockholm

Abakan

Kyzyl

Chita

Staroverenskaya

Tardan

Uzhunzhul

Kara-Beldyr

Location Map

7 Auriant Presentation

Company and Core Assets


SENIOR

MIDCAP

JUNIOR/DEVELOPMENT

Auriant Mining is a junior exploration/development company with:

• A solid pipeline of projects

• Increasing operating cash flows to support exploration

• A core team with international experience in the gold mining industry

Stage

Tardan Production

Staroverenskaya Production / Exploration

Kara-Beldyr JV Scoping Study

Uzhunzhul Exploration

Bigger Tardan Exploration

Core Assets: Pipeline


Tardan deposit (2 km2)

• GKZ C1 – C2 resources 8 tonnes of gold • Production capacity of 1 tonne per annum commissioned in August 2012 • Exploration on flanks is in progress • License valid till 2028

Staro- verenskaya (220 km2)

• Major gold mining region with well developed infrastructure and substantial mines (Baley, Darasun, Taseevskoye)

• 2 deposits with total resources of 16 tonnes of gold of which one (Solcocon) producing mine • Exploration focused on the flanks of the existing deposits • License valid till 2029

• Well-developed regional infrastructure • Several gold producers nearby (Mayskiy, Chazy-Gol) • Drilling targets for 2013 identified • Exploration license valid till 2031

Kara- Beldyr (34 km2)

Uzhunzhul (134 km2)

• 30% stake in JV with Centerra • Centerra is an operator in the license area • 500,000 ounces of 43-101 measured, indicated and inferred resource • Exploration license valid till 2027

Bigger Tardan

(540 km2)

• Vast territory in the promising mining province • Aim is to look for 2-3 new exploration targets for gold clusters • 2 potential satellite deposits already identified to extend the resource base of Tardan • Exploration license valid till 2032

Producing Assets


Asset Status Targets

Tardan • Heap leaching factory commissioned in August 2012

• 10 month 2012 production of 273 kg

• Gravitational factory will re-start in 2013

• Target for 2012 is 450 kg

• Aim to achieve full production rate of 1000 kg per annum during 2013-2014

Solcocon • Heap leaching factory underperformed in 2012

• Actions taken to address causes of underperformance


• 2012 targets unlikely to be met

• Evaluating options to upgrade capacity to increase production

• Extensive exploration to prepare reserves for mining

Borzya

• Outsourced to an experienced alluvial operator


• 100 kg production target for 2012 already exceeded

Production to date is 493 kg and well set to meet 2012 target of 600 – 700 kg of gold, and generating enough cash to cover operating expenses

11

540 km2 area with

several objects at

various stages of

exploration

Two satellites:

Barsuchiy and

Sorulug-Khem are

near-term resource

for the heap leaching

plant

Several targets

identified for 2013

exploration season

Bigger Tardan Ore Cluster

Tardan

deposit and

mining

operations

Sorulug- Khem

satellite»

Western

Cluster

Southern

Cluster

Barsuchiy

satellite

Northern

Cluster

Kara-Beldyr


• Auriant holds 30% in JV with Centerra Gold

• Centerra is a proven operator

• NI 43-101 resource of 500,000 oz

• Drilling continues to further increase the resource base

• License valid till 2027

• Ore bodies outlined at Jurkovskoye area as a

result of 2010 limited exploration program

Chazy-Gol Heap Leaching Mine (Golden Star Co.)

Uzhunzhul license (Auriant)

14.2 km

Uzhunzhul Exploration

• Well-developed infrastructure in the region

• Many gold producers nearby

• License valid till 2031, total area 134 km2

• Drilling targets identified for 2013 exploration program

14

• Combined alluvial and hard rock license

• 40,000 kg Au produced from alluvial deposits in the area

• Located on famous Mongolo-Okhotsky gold belt

• Both secondary haloes and dispersion trails point to same targets

• Drilling targets identified for 2013 exploration program, based on 2012 geophysical work

Staroverenskaya

Key Achievements for 2012


• 2012 marks a new direction, with:

• Tardan commissioned

• New Board with international mining experience

• New management team formed to drive company forward

• New company name

• Successful team backed by supportive owners

• Successful transition from exploration to production

• Financing issues resolved with new credit facility

• Long term exploration licenses

Producing miner focusing on exploration for new gold discoveries

A new direction

Resources and Reserves

16 Auriant Presentation

NI 43-101 - Compliant Gold Resources

Measured & Indicated Inferred

License Deposits

Ore, Au, Au, Au, Ore, Au, Au, Au,

000 t. g/t kg 000 oz 000 t. g/t kg 000 oz

Kara-Beldyr Kara-Beldyr Hard Rock 1,137 2.4 2,697 86.7 1006 2.0 1,969 63.3

* The resource numbers above represent Auriant's 30% share in the Kara-Beldyr project.

Russian State Balance (GKZ) approved Resources and Reserves

C1* C2*

License Deposits

Ore, Au, Au, Au, Ore, Au, Au, Au,

000 t. g/t kg 000 oz 000 t. g/t kg 000 oz

Tardan Tardan deposit Hard Rock 1,454 3.75 5,454 175.4 524 4.45 2,332 75.0

Tardan Ore Cluster Hard Rock 270 6.14 1,656 53.2

Staroverinskaya Kozlovskoye Hard Rock 262 8.77 2,297 73.8 869 7.78 6764 217.5

Bogomolovskoye Hard Rock 20 2.95 59 1.9 2,141 3.48 7460 239.8

Borzya Alluvial 166 1.34 222 7.1 1,036 1.41 1456 46.8

TOTAL 1,902 8,032 258.2 4,840 19,668 632.3

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