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A Growing Presence in Africa

A Growing Presence in Africa. November, 2009. Disclaimer.

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A Growing Presence in Africa

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  1. A Growing Presence in Africa November, 2009

  2. Disclaimer Certain information contained or incorporated by reference herein, including any operating performance of La Mancha Resources Inc. (“La Mancha”), constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words “projected”, “attributable”, “potential”, “will” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by La Mancha are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the currency markets; fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada or other countries in which La Mancha does or may carry on business in the future; business opportunities that may be presented to, or pursued by, La Mancha the ability to successfully integrate acquisitions; operating or technical difficulties in connection with, mining or development activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; adverse changes in the credit rating; and contests over title to properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect the actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, La Mancha. You are cautioned that forward-looking statements are not guarantees of future performance. This presentation uses the terms “inferred resources” and “measured & indicated resources”. La Mancha advises you that these terms are recognized by Canadian securities regulations (under National Instrument 43-101 “Standards of Disclosure for Mineral Projects”). You are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a preliminary assessment as defined under NI 43-101. You are cautioned no to assume that part or all of an inferred resource exists, or is economically or legally mineable. The Hassaï conceptual estimate of potential tonnes and grade to date for the third to sixth targets has insufficient exploration to define a mineral resource compliant with National Instrument 43-101. The information contained herein is confidential and does not constitute a recommendation by La Mancha its agents or any vendor party nor does it form the basis of any contract or offer for the sale of the business of gold exploration, development and mining. The recipient of the information contained herein agrees that the information is to be considered confidential and proprietary to La Mancha and shall hold the same in confidence, shall not use it other than for the purposes of its business with La Mancha and shall disclose it only to its officers, directors, or employees with a specific need to know. The recipient will not disclose, publish or otherwise reveal any of the confidential information contained herein to any other party whatsoever except with the specific prior written authorization of La Mancha. The information contained herein may not be published, distributed or transmitted without La Mancha’s formal approval and does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities.

  3. In a nutshell We are a gold producer We generate cash We have cash on hand Up to 100,000 oz expected in 2009 C$26.5 M operating cash flow* C$21.5 M in cash and short term investments* *As of September 30th, 2009

  4. Overview of La Mancha Listed on the TSX Market capitalization of CAD256M* Shares outstanding: 142 million 3 gold mines in operation 1 advanced gold project Sizeable VMS project (scoping study phase) 30 exploration projects * As of November 23rd, 2009 La Mancha is an international gold producer with over 37,500 km2 of promising exploration tenements in Africa

  5. Operational Performance – 9 months Attributable Gold Production(oz) Margin Expansion (US$/oz) Operating cash flow ($’000) 70,710 +3% Realized Gold price 26,466 +40% Margin 50,565 +39% +2,584% Cash cost -18% 986 Greater operating efficiencies and greater production levels lead to increased cash flows

  6. Gold Mining Pioneer in Africa// Côte d’Ivoire– Ity Mine // Sudan – Hassai Mine

  7. Gold Mining Pioneer in Côte d’Ivoire and Sudan As an African mining pioneer, over the past decades we have: • Established strategic partnerships with local governments • Built strong ties with the local population • Accumulated vast geological, mining, and managerial experience • Gained a competitive advantage La Mancha is proud to be a positive influence in the countries in which it operates

  8. Côte d’Ivoire – Ity Mine Quick Facts LMA ownership 45.9% Mine type Open pit Ore processing Heap Leaching Attributable reserve 167,757 oz * • Increased M&I resources by 50% in 2008 Reserve grade 5.17 g/t Au* 2009YTD18,405 oz 2009E23,000 – 28,000 oz Attributable Production Cash cost**:‘09 I ‘08 358 vs. 462 US$/oz Gold grade**:‘09 I ‘08 4.6 vs. 4.0 g/t Au * As of Dec. 31st 2008 ** For the First 9 months ended Sept 30th 2009 and Sept 30th 2008 Inaugurated in 1991, the Ity mine has produced over 600,000 ounces to date

  9. Côte d’IvoireCreating a mining complex of critical mass • Located along one of six northeast-southwest trending volcanic belts in the Birimian System that straddles Ghana and Côte d’Ivoire. • Early exploration results: • confirmed the potential of at least two geochemical anomalies • established several similarities with the Ashanti belt in Ghana • Best intersections include: • Trenches • T 12: 21 m @ 2.61 g Au/t, including 1m @ 7.7 g Au/t (true width: 13.5 m) • Drill holes • 7.0 m @ 5.53 g Au/t at 25.2m,2 m including 1.8m @ 12.5 g Au/t • 8.3 m @ 2.68 g Au /t at 41.9m,9 mincluding 1.0m @ 14.75 g Au/t • 1.0 m @ 18.55 g Au/t at 17.25 m Second drilling campaign scheduled to take place in November 2009 Early exploration results confirm prospectivity at the Bondoukou property

  10. Northeast Sudan - Hassaï Mine Quick Facts Preparing for the future: VMS Project LMA ownership 40% Mine type Open pit Oxide Ore processing Heap Leaching Supergene Attributable reserve 169,432 oz** Primary Reserve grade 5.02 g/t Au** Attributable Production 2009YTD17,975 oz 2009E25,000 – 30,000 oz VMS target 1 of 6 Hassaï pit Ore Transition: Oxide  Tailings  VMS  Cash cost:YTD*I 2009E627 vs. 673 US$/oz * For the First 9 months ended Sept 30th 2009 ** As of Dec. 31st 2008 Inaugurated in 1992, the Hassaï mine has produced over 1.1 million ounces to date

  11. Hassai VMS Video

  12. Socially Responsible Development The Regional Development Fund Created by AMC in 1998 Supports community projects benefiting to the community living around the mine Accomplishments to date: 7 schools 1 medical clinic Water and Power supply Transportation and Communication services In October 2007, SDTF, a Washington based NGO responsible for reporting to American authorities on companies with commercial operations in Sudan, acknowledged La Mancha’s positive influence for the country.

  13. Building a prolific mining complex in Australia Frog’s Leg Mine White Foil Advanced Project Quick Facts LMA ownership 51% Mine type Underground Ore processing CIP Attributable reserve 402,647 oz ** Reserve grade 5.02 g/t Au** 2009YTD34,330 oz 2009E37,000 - 42,000 oz Attributable Production Cash cost:YTD* I 2009E414 vs. 450 US$/oz *For the 9 months ended Sept. 30, 2009 ** As of as at 1 April 2009 *** All financial calculations are based on a gold price of US $810/oz and a USD/AUD exchange rate of 1.50 and exclude costs incurred prior to 2009 • White Foil production expected to start as soon as a satisfactory milling agreement is signed

  14. Where do we go from here?// Organic production growth potential// Organic resource growth potential

  15. Organic Production Growth 210,000 180,000 + 20% 150,000 + 20% Hassai CIP system in place 120,000 + 30% Attributable production (in ounces) 90,000 + 40% Ity Increase (new leaching pads) White Foil Starts Frog’s Leg new Mining Plan + 30% 60,000 US$497/oz US$512/oz 30,000 US$485/oz 0 2007A 2008A 2009E 2010F 2011F 2012F La Mancha intends to continue to grow its production

  16. Organic Resource Growth 4.50 4.00 3.50 3.00 2.50 (in ounces) Attributable Measured and Indicated Resources 2.00 1.50 1.00 0.50 0.00 Dec 31, 2007A Dec 31, 2008A Dec 31, 2011E Goal of reaching 4M ounces + 34% In 2008, Measured and Indicated resources increased 34% over previous year to 1.8 M ounces

  17. Appendix// Third Quarter Financial Highlights // Operational Highlights // Market Information // Hassaï/Bisha Comparison

  18. Third quarter results

  19. Third Quarter Financials

  20. Operational Highlights

  21. Listed on the TSX Market Capitalization of C$256M* 142M Shares outstanding (53M float) YTD Volume: 53.8M shares* Average daily volume over past 90-days: 0.294M shares* Market Information Volume (000) Share Price CA $ * As of November 23rd, 2009

  22. Our VMS Potential Tailings ¹ As at November 3rd, 2009. Using a long term gold price of US$750/oz, long term copper price of US$2/lb and a zinc price of US$1,911/t ² As at October 5th, 2006. Using a long term gold price of US$400/oz, long term copper price of US$1.05/lb, a long term silver price of US$0.50/lba, and a zinc price of US$0.50/lb.

  23. Bisha resource information As at October 5th, 2006. Using a long term gold price of US$400/oz, long term copper price of US$1.05/lb, a long term silver price of US$0.50/lba, and a zinc price of US$0.50/lb.

  24. Bisha reserve information As at October 5th, 2006. Using a long term gold price of US$400/oz, long term copper price of US$1.05/lb, a long term silver price of US$0.50/lba, and a zinc price of US$0.50/lb.

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