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Apollo Gold Mining Limited March 2003

Apollo Gold Mining Limited March 2003 An Emerging Gold Producer 326 sq. km of land holding in the highly prospective Laverton Tectonic Zone Laverton Processing Plant – capacity 1 Mtpa Resource 10.6 Mt @ 1.9 g/t = 647,000 ounces In Pit Resource 1.6 Mt @ 2.3 g/t = 117,000 oz The Assets

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Apollo Gold Mining Limited March 2003

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  1. Apollo Gold Mining Limited March 2003 An Emerging Gold Producer

  2. 326 sq. km of land holding in the highly prospective Laverton Tectonic Zone Laverton Processing Plant – capacity 1 Mtpa Resource 10.6 Mt @ 1.9 g/t = 647,000 ounces In Pit Resource 1.6 Mt @ 2.3 g/t = 117,000 oz The Assets

  3. Cash flow is a priority Sponsor Laverton Region Gold Alliance Leverage Ownership of Mill through JVs and Toll Processing Arrangements Growth by exploration success and increasing Mill throughput The Strategy

  4. Single Commodity: Gold Single Region: Laverton Single Focus: Generate Cash The Apollo Mission

  5. Commence development drilling – 10 March 2003 Complete Project Verification Study - mid 2003 Establish in-pit resources for 5 years of Gold Production @ 40,000-45,000 oz pa – mid 2003 Pour Gold within 12 months Commence deep drilling programme – mid 2004 Short Term Goals

  6. > 23 million oz discovered in the region e.g. Granny Smith/Wallaby/Sunrise Under cover – limited application of geophysics; limited exploration since 1997 Active exploration programme commenced for shallow targets and resource extensions JV negotiations have commenced with other gold companies in the region looking for major deposits Deep drilling to commence mid-2004 LTZ is Elephant Country !

  7. Existing Pits 117,000 oz 2.5 yrs + Drilling outside Optimised Pits Immediate Targets Sunshine/Craiggiemore 20,000 oz 0.4 yrs Grouse/Vat/Scotland Yet 40,000 oz 0.8 yrs Admiral Hill 60,000 oz 1.3 yrs Burtville – Blue Moon 60,000 oz 1.3 yrs Current Total Resource 10.56 mt@1.91 g/t for 647,000 ozs Potential Reserve – 300-400,000 oz

  8. ADMIRAL HILLTarget Zone Further Drilling Required adjacent to Syenite Intrusive • 6 km strike • 8 km N of plant • Existing Resource 0.8 Mt @ 1.9 g/t Potential Resource Extension Poorly Tested Zone

  9. BLUE MOON PROSPECT BURTVILLE PROSPECT

  10. BURTVILLE BLUE MOON PROJECT Section 4500N

  11. Tonnes treated 1.6 million Grade - g/t 2.3 Contained Ounces 117,000 Recovery 92% Recovered Ounces 108,000 Throughput tonnes p.a 600,000 Gold Produced oz p.a 40-45,000 Potential Mining Plan: First 2½ Years

  12. Gold Price A$575 Revenue A$60-65 M Operating Costs A$28/t* A$40-45 M Environment & Rehab (net) A$1 M Development Costs A$4 -5M Net Surplus A$9 -12 M EBITDA p.a A$3 - 5 M * Independent Geologist estimated costs at A$28./t Potential Gross Revenues: First 2½ Years

  13. Project Verification Study completed mid-2003 Gold Production to Start within 1 Year Self-funded Exploration after 1 Year Toll Treatment Capability Significant Exploration Upside The Future

  14. Capitalisation A$15 per ounce (US$9) 40,000 ounces p.a. within 12 months No debt. Unhedged Prospectivity of LTZ (Sunrise, Wallaby …) Potential 80,000 ounces p.a. within 2 years Summary

  15. PAYDIRT’S GOLD CONFERENCE Apollo Gold Mining Limited March 2003 An Emerging Gold Producer By Dudley J Kingsnorth Chief Executive OfficerEmail:djk@apollogold.com.au

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