GOLD IN THE HEART OF AFRICA

January 2012 | TSX.V: SGD, Frankfurt: S7G

Forward Looking Statements

2012 Simba Gold Corp. All rights reserved. Unless otherwise noted, Simba and all other marks used in this presentation are trademarks of Simba Gold Corp. (the Company). Any reproduction or dissemination of any feature of this presentation, in whole or in part, or any use of this presentation for any unlawful purposes, is strictly prohibited. The technical contents of this presentation were reviewed by Allan Armitage, P.Geo and a Qualified Persons as defined by National Instrument 43-101. The information provided in this presentation is provided solely for general knowledge purposes. This presentation is not intended to be a comprehensive review of all matters and developments concerning the Company and the Company assumes no responsibility for its completeness, accuracy and currency. Although information used in this presentation is believed to be accurate as at the date hereof, it may not be accurate when read. The Company does not undertake to update any of the information provided in this presentation. For current information please refer to the Company's filings on SEDAR (www.sedar.com) or the Companys website www.simbagoldcorp.com. THIS PRESENTATION IS PROVIDED AS IS WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND, INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL THE COMPANY, ITS DIRECTORS, OFFICERS OR EMPLOYEES BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES DUE TO LOSS OF PROFITS OR BUSINESS INTERRUPTION) DUE TO THE READERS USE OF THIS PRESENTATION. This presentation is not to be construed as an offer to sell, or a solicitation of an offer to buy securities of the Company. An offer to sell, or a solicitation of an offer to buy securities of the Company can only be made by a broker-dealer registered in all jurisdictions in which such an offer is being made and only if such offer is otherwise made in accordance with all applicable securities laws, regulations, and rules of any kind whatsoever. The information in this presentation is not intended in any way to qualify, modify or supplement any prospectus or other information disclosed under the corporate and securities legislation of any jurisdiction applicable to the Company. No securities commission has in any way passed on any of the information contained in this presentation. This presentation contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward-looking statements. Forwardlooking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

TSX.V: SGD | www.simbagoldcorp.com | 2

Simba Gold Corp. Gold in the Heart of Africa

Gold exploration company exploring quality assets in Rwanda, Africa In March 2011, Simba completed a Qualifying Transaction to purchase up to 100% of Rogi Mining Limited (Rogi) in exchange for up to $ 2.75 MM and the issuance of up 5.7 MM shares over a period of 5 years(1) Principal asset is the Miyove Gold Project which comprises 2,937 hectares over the largest historic gold-producing area in the country Completed a surface exploration program in December including detailed mapping, sampling and a geophysical survey to define further drill targets; results pending(2) Management team with several years of in-country experience Well funded: completed a $6.04 MM private placement March 2011(1)

TSX.V: SGD | www.simbagoldcorp.com | 3

Board of Directors
John Anderson, Chairman
Founder of Aquastone Capital Partners, NYC based investment and gold fund; over 19 years experience in financial consulting, corporate development and real estate asset management

Werner Ullmann, President, CEO & Director

10 years experience in the commodity sector, former analyst and fund manager of the Gold & Resources Equity Fund at DJE Kapital AG

Simon Anderson, CFO & Director

25 years of extensive experience in fnancial accounting, corporate finance and mergers and acquisitions

Igor Vishnevskiy, Director

Previously Head of the Moscow Representative at Glencore International AG, one of the worlds largest suppliers of commodities and raw materials to consumers (1997 2003)

Allan Armitage, Director & Qualified Person

Geologist with over 20 years experience; currently a senior geologist with GeoVector Management Inc. which provides resource evaluation, estimation and project management

TSX.V: SGD | www.simbagoldcorp.com | 4

Management
Werner Ullmann, President, CEO & Director
10 years experience in the commodity sector, former analyst and fund manager of the Gold & Resources Equity Fund at DJE Kapital AG

Simon Anderson, CFO & Director

25 years of extensive experience in fnancial accounting, corporate finance and mergers and acquisitions

Bijay Singh, VP Corporate Development

Has worked with public and private companies for over 10 years providing services in corporate finance, product and business development corporate negotiations and public relations

Tom Kennedy, Corporate Secretary

currently is a director and/or officer of several publicly listed companies and has, since January 1991, been providing legal, management and financial services these companies

TSX.V: SGD | www.simbagoldcorp.com | 5

Share Structure
(as at December 5, 2011)

Market Capitalization Shares Outstanding(1) Warrants Options Fully Diluted

$4.2 MM (at $0.12) 34,790,729 12,697,648 730,000 48,218,377

(1) In addition, 4,750,000 shares are reserved to complete the acquisition of Rogi Mining Limited

TSX.V: SGD | www.simbagoldcorp.com | 6

Qualifying Transaction with Rogi

March 2011 Simba completed its QT to purchase 100% of Rogis shares in exchange for up to US$2.75 MM and up to 5.7 MM shares over 5 years(1) Date March 10, 2011 March 10, 2012 March 10, 2013 March 10, 2014 March 10, 2015 Cash (US$) $156,250 $312,500 $312,500 $343,750 $1,625,000 Issuer Shares 950,000 950,000 950,000 950,000 1,900,000 Interest Earned 12% 14% 14% 15% 45% Cumulative Interest Earned 12% 26% 40% 55% 100%

TOTAL

$2,750,000

5,700,000

100%

TSX.V: SGD | www.simbagoldcorp.com | 7

Mining in Rwanda
Part of the Great Lakes Mineral Province, which includes the greenstone-hosted gold deposits in Tanzania and north-eastern DRC and the vein-hosted gold deposits in Rwanda, south-western Uganda, the DRC, and Burundi(3) 2010: natural resources were 14.9% of total exports (USD $67.8 MM)(4) Major minerals exported include: tin ore, tantalum, tungsten The country is relatively unexplored in terms of gold but high levels of the precious metal have been found in the Gicumbi and Nyamasheke districts(5) 2004: the new Mining Law was adopted and the industry was privatised(5) Increased foreign investment Increased productivity Government supported integration of the countrys artisanal and small-scale miners into the formal sector

TSX.V: SGD | www.simbagoldcorp.com | 8

Simba in Rwanda

TSX.V: SGD | www.simbagoldcorp.com | 9

Miyove Gold Project

Location: Northern Rwanda, 65 km from the capital city of Kigali Area: 2,937 hectares Ownership: Simba Gold Corp. owns 12% of Rogi Mining Limited (Rogi) and has an option to purchase up to 100% over five years; Rogi, a private company owns the Miyove Gold Project(1) Established infrastructure with road, water and commercial power access

Miyove Gold Property

TSX.V: SGD | www.simbagoldcorp.com | 10

Miyove Gold Project

Located on the Kibara Belt which extends in a north easterly direction from the eastern part of the Democratic Republic of Congo (DRC) through Rwanda, to the southern portion of Uganda 3 mineralized zones on a northwest-southeast mineralized trend extending 6 kms The gold deposit type being targeted on the Miyove Project is similar to the Twangiza Gold Mine (Banro Corporation) in South Kivu province, DRC which is also hosted in the Kibara belt(2)

Mineralized Vein Structure on Miyove Project

TSX.V: SGD | www.simbagoldcorp.com | 11

Twangiza - Namoya Gold Belt

TSX.V: SGD | www.simbagoldcorp.com | 12

Neighbouring Gold Deposits

Transafrika Resources Byumba Deposit is located approximately 35 km east of Miyove: Inferred resource: 256,000 oz gold(3) Mineralization is open at depth and along strike Transafrika recently acquired by Desert Gold Ventures Inc. (TSX.V: DAU)(10) Banro Corporation has 4 gold properties in the DRC covering the major historical producing areas along the Twanziga - Namoya Gold Belt: Twanziga and Kamituga Mines: 6.9 MM oz gold Lugushwa Mine: 2.7 MM oz gold Namoya Mine: 1.5 MM oz gold Historical reports of approximately 2.4 MM ounces of gold produced(6) Gold mineralization discovered to date on the belt occurs along well defined ridges with excellent potential for the development of open pit reserves

TSX.V: SGD | www.simbagoldcorp.com | 13

Historical Work on the Miyove Project

The property covers 3 historical mine sites comprising the largest gold producing area in Rwanda Located approximately 200 km northeast of the Twanziga - Namoya Gold Belt with reports of approximately 2.4 MM ozs historic gold production(6) Historic production by artesian miners estimated to be approximately 2.5 to 4 metric tons of gold (80,400 to 128,600 ozs) in the 1930s and 1940s(7) 1930s: gold discovered and mined by the Minetein Company 1984-85: a Belgian company conducted prospecting, geochemical surveys, trenching and pitting, and underground development

TSX.V: SGD | www.simbagoldcorp.com | 14

Historical Work on the Miyove Project (contd)

1986-1988: UN completed exploration programs and limited diamond drilling 2,258 m in 16 holes directed at 3 mineralized zones Best intersection: hole MK-03 from 88.0 to 94.0 m averaged 24.93 g/t Au over 6.0 m 2006-09: work completed by Rogi Mining:(7) Geological mapping, trenching, sampling

Trench dug for sampling programs

TSX.V: SGD | www.simbagoldcorp.com | 15

2011 Work Program

2300 m drilled to date focusing primarily on the Karenda zone; highlights include:(8) Hole MY-11-02: 24.69 m averaging 0.61 g/t gold, including 7.54 m averaging 1.12 g/t gold Hole MY-11-05: 5.58 m averaging 1.21 g/t gold, including 2.57 m averaging 2.15 g/t gold Surface exploration program completed in December; results pending(2) Ground magnetic survey: 100 line km completed Sampling: 1243 soil samples & 134 rock samples collected Geological mapping: entire property mapped in detail The results will provide sufficient information for designing a drill program, to commence in 2012

TSX.V: SGD | www.simbagoldcorp.com | 16

Simbas Additional Properties

Southern Province gold exploration Ntendezi and Nyungwe National Park Located in the Rusizi and Nyamasheke districts Comprises 2098 hectares Eastern Province nickel exploration Located in the Kirehe district Comprises 400 hectares No work currently being done on the above projects but that is subject to change

TSX.V: SGD | www.simbagoldcorp.com | 17

Investment Highlights
Flagship project is the Miyove Gold Project, located in the largest historic goldproducing area in Rwanda Established infrastructure on the property with excellent road access, water and power access Well-funded company: completed a $6.04 MM private placement (March 2011) Government of Rwanda is extremely supportive of the mining industry Qualified management team with several years of in-country experience Commitment to community relations

TSX.V: SGD | www.simbagoldcorp.com | 18

Endnotes
1) Reported in Simbas March 10, 2011 News Release 2) Reported in Simbas December 15, 2011 News Release 3) Transafrika Resources website (http://www.transafrikaresources.com/pe/glm_i.php) 4) Ratio Magazine online (ratio-magazine.com), Rwanda: More Mining Investments After Introduction of Mineral Certification 5) Government of Rwanda, Ministry of Natural Resources, A Revised Rwandan Mining Policy, October 2009 6) Banro Corporation website (http://www.banro.com/s/Properties.asp) 7) Technical Report on the Karende-Murehe Property, June 14, 2010 8) Reported in May 10, 2011 News Release 9) Reported in Transafrikas June 21, 2011 News Release

TSX.V: SGD | www.simbagoldcorp.com | 19

1750 - 1111 West Georgia Street Vancouver, BC V6E 4M3 Tel: 604-568-3724 Fax: 604-628-5001 Email: info@simbagoldcorp.com www.simbagoldcorp.com