AUC MINING (U) Ltd

Exploration & Mining Potential in the Kamalenge Area of Uganda

October 2013

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UGANDA

Part of the Congo Craton wedged between producing goldfields in the eastern DRC and northern Tanzania

Permitting processes and legal tenure clearly set out in the law
Encouraging the development of its mineral sector Has invested heavily with World Bank and NDF supported airborne data surveys (SMMRP) A number of our targets host past and current artisanal workings High levels of international and local interest in the mineral sector Functional infrastructure, upgrades to road and power networks ongoing 2

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SOCIAL RESPONSIBILITY

STRIVE TO IMPROVE THE QUALITY OF LIFE OF THOSE INVOLVED IN OUR INVESTMENTS THROUGH IDENTIFYING SUSTAINABLE DEVELOPMENT OPPORTUNITIES WE FURTHER: PROVIDE ASSISTANCE WITH LOCAL EDUCATION IMPROVE WATER SUPPLIES MAXIMISING LOCAL PROCUREMENT AIDING THE FIGHT AGAINST MALARIA AFFORDING VOCATIONAL STUDIES TO UNDERGRADUATES TRAINING LOCALLY EDUCATED GRADUATE GEOLOGISTS IMPROVING OUR INFRASTRUCTURE HAS AIDED LOCAL COMMUNITIES USING UGANDAN SERVICE PROVIDERS WHEREVER POSSIBLE

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COMPANY SNAPSHOT
Gold focused mining and exploration company

Setup to secure investments for the Ugandan mineral sector Active in Uganda since 2006 One of the largest mineral investors here in recent times US$14m of investments raised in the private equity market A track record of mineral developments internationally and in Uganda Enhancing the knowledge database in our areas of interest

Engaged with successful and credible partners

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AREAS OF INTEREST

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OUR FOCUS AT KAMALENGE

Regional and Detailed Exploration for GOLD and IOCG Type Deposits
Minimum of 4 magnetic lineaments defined at Kamalenge for exploration and mining. 13 hard rock Gold & IOCG areas defined at Kamalenge by Trenching and Soils Geochemistry. 1 hard rock zone defined at Kamalenge for mining (Targets 1,2 and 3) with a preliminary resource of 45,000 tonnes at 6.2 g/t (Target 1).

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VALUE OF THE SMMRP WORK

40 km

Airborne Magnetic Trends Related to Current Defined Targets

The GMU License Areas are shown compared with the magnetic anomalies defining a minimum of 4 possible zones of mineralisation.

Kamalenge Mining Area

The aero-magnetic anomalies vary between 8 and 16 km in length are part of a larger structure which is in excess of 25 km the Lusaba Shear.
The Kamalenge Mining License represents 6 km2 within a potential area of 150 km2.
Scale Each quadrangle is 4 x 4 km

32 km

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KAMALENGE Local Targets

Lugingi and Kyasampawo Area
5 km
Scale Each quadrangle is 500 x 500 m2

SOIL GEOCHEMISTRY SIGNATURES All 13 defined Target Areas based on the Au (Cu, As, Pd) signature (Yellow)

and the IOCG (Cu, U, Au, Ag, LREEs Light Rare Earths) signature (Brown).
Targets B through to H still have to be investigated. Detailed sampling and trial mining in progress on Target 1.

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KAMALENGE Exploration & Mining

TARGET 1 Hill and Mining Area Kyasampawo Hill and the Adit

TARGET 1 (From the North East)

Reef 1 Blue Reef 2 Green Reef 3 White Reef 4 Light Brown Roads are in Red Current Trenches are In White First Phase of the mining will be in the Reefs between the valley and Target 1 hill Exploration is continuing on Targets 1, 2, 3, Kyasampawo Hill and the Adit

TARGET 3 TARGET 2 PIT A - Alluvials Area

Proposed Drilling program ( 1890 m) is planned On TARGET 1 to intersect the Reefs at depths of between 20 to 150 metres 9

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KAMALENGE Further Exploration

Kyasampawo Hill and the Adit

TARGET 1 Proposed Drillholes and Intersections

TARGET 1 Hill Drilling Area

B A B

Reefs
1 4 3 2

TARGET 3
200 m

PIT A - Alluvials Area

TARGET 2

Reef 1 Reef 2 Reef 3 Reef 4 Brown

Blue Green White Light

TARGET 1 Drilling intersects the Reefs at depths of between 20 to 150 metres 10

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KAMALENGE Exploration Potential

TARGET 3

Kyasampawo Hill and the Adit TARGET 2

LUGINGI 1km Strike (South of Targets 1 & 2)

Mineralisation length 1km Open both ends Zone over 116m wide Open to South Average ore width 54m (0.5g/t cut-off) Average ore grade of 3.99g/t Resource to 25m depth = 450,000 Oz Resource to 100m depth = 1.8Mil Oz

TARGET 1 Hill and Mining Area

LUGINGI

LUGINGI 3km Strike (South & West of Targets 1 & 2)

Geological mapping shows length 3km Open both ends

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ALLUVIALS - Processing Trials

ALLUVIAL MATERIAL 5sq.km of Au bearing gravels mapped 9,600 m3 processed at 287 mg/m3 recovered 2750 g (88 oz) of Au produced Break-even recovery required = 660 mg/m3 (~0.4g/t) Main challenges: Clay, Dilution, Grade Control Enhanced processing options under review

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KAMALENGE Primary Ore Trials

HARD ROCK (Pit C and adit area Kyasampawo Hill ) TARGET 1 Open pit and part underground operation In situ grade 5.7 g/t Au. 252 tonnes processed at a feed head grade of 2.89 g/t 300 g ( 10 oz ) of Au production Estimated gold recovery by gravity only, 41%

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HISTORIC GOLD PRICE CHART

AVERAGE GOLD PRICE DURING THE TRIAL MINING PERIOD WAS US$1,100 PER OUNCE.

Data Source: Kitco website September 2013

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DOW:GOLD RATIOS

Dow (DJIA) to gold ratio from 1900 to present and projected to 2035. Major gold producers are listed at the point that they were founded. Yellow shading highlights periods when gold mining and exploration were generally more vibrant than other times.
Extract from The Gold Report interview with geologist & Exploration Insights writer Dr.Quinton Hennigh June 2012.

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EXPLORATION TEAMS

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ALLUVIALS MINING & PROCESSING

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HARD ROCK MINING

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INFRASTRUCTURE

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MINING FLEET

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IMPORTANT INFORMATION
Disclaimer and restrictions : This presentation contains only a brief overview of Gold Mines of Uganda Limited and its associated entities (GMU) and their respective activities and operations. The contents of this presentation, may rely on various assumptions and subjective interpretations which is not possible to detail in this presentation and which have not been subject to any independent verification. This presentation contains both historical and a number of forward-looking statements. Known and unknown risks and uncertainties, as well as factors outside of GMUs control, may cause the actual results, performance and achievements of GMU to differ materially from those expressed or implied in this presentation. GMU does not warrant the accuracy, currency or completeness of the information with respect to forward-looking statements contained in this presentation, nor the future performance of GMU. The information contained in this document is being supplied only to persons who fall within Article 11(3) of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended). No representation or warranty, express or implied is given to the accuracy of the information or opinions contained in this document and no liability is accepted by GMU or any of its directors, members, officers, employees, agents or advisers for any such information or opinions. Accordingly, this information is being supplied to you, in whole or in part, for information purposes only and not for any other purpose. In particular, the distribution of this document in jurisdictions other than the United Kingdom may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of laws of any such other jurisdiction. This document and the information contained in it do not constitute a prospectus and do not form any part of an offer of, or invitation to apply for, securities or shares. Any decision to apply for securities must be made solely on the basis of information contained in the public domain.

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