Amulsar Gold ProjectLow-cost Producer Opportunity – Mining Right Approved

Lydianinternational.co.uk | TSX:LYD

Corporate PresentationBMO Global Metals & Mining ConferenceFebruary 22-25, 2015

Cautionary StatementsForward Looking Statements & Nature of Mineral Reserves/Resources

Forward Looking StatementsCertain information contained in this document, including any information relating to Amulsar's expected future performance is "forwardlooking". All statements, other than statements of historical fact, that address events, results, outcomes or developments that theCorporation expects to occur are "forward-looking statements". Forward-looking statements are statements that are not historical facts andare generally, but not always, identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget","scheduled", "estimates", "forecasts", "intends", "anticipates", "projects", "potential", "believes" or variations of such words and phrases orstatements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" orthe negative connotation of such terms. Forward-looking statements relate primarily to the results of the updated feasibility study entitledthe ‘‘2014 Amulsar NI 43-101 Feasibility Study’’ dated October 22, 2014 and prepared by SGS E&S Engineering Solutions Inc., and include,among others, statements with respect to: the economic and feasibility parameters of Amulsar, the nature, cost and timing of developmentof the project, expected capital costs, sustaining capital costs, production, cash costs and all-in sustaining costs; the expected mine life, scale,mining methods and plan, processing methods and rates, grades, recovery rates, stripping ratio, production and other attributes of Amulsar;the estimation of mineral reserves and resources; the timing for receipt of permits; and the expected pre-tax and after-tax NPV, IRR andpayback period associated with Amulsar as well as the Corporation's plans with respect to the Newmont royalty and the option to terminateit, tax planning and allocation of tax attributes. Refer to the new release dated September 11, 2014 for the complete text of this cautionarystatement. Where we say "we", "us", "our", the "Corporation", or "Lydian" in this presentation, we mean Lydian International Limited and/orone or more or all of its subsidiaries, as may be applicable. The scientific and technical information about the Amulsar Gold Project and itspotential development contained in this presentation has been reviewed and approved by, Marc Leduc, P.Eng, Chief Operating Officer of theCorporation, who is a “qualified person” for the purposes of NI 43-101.

Information concerning estimates of minerals reserves and resourcesThis document uses terms that comply with reporting standards in Canada and certain estimates are made in accordance with Canadian NI43-101. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission (“SEC”), and mineralresource information contained herein may not be comparable to similar information disclosed by U.S. companies. This news release uses theterms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” to comply with reporting standards inCanada. We advise U.S. investors that while such terms are recognized and required by Canadian regulations, the SEC does not recognizethem. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in such categories will ever be converted intomineral reserves under SEC definitions. These terms have a great amount of uncertainty as to their existence, and great uncertainty as totheir economic and legal feasibility. Therefore, U.S. investors are also cautioned not to assume that all or any part of the “measured mineralresources”, “indicated mineral resources” or “inferred mineral resources” exist. In accordance with Canadian rules, estimates of “inferredmineral resources” cannot form the basis of pre-feasibility or other economic studies. It cannot be assumed that all or any part of the“measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” will ever be upgraded to a higher category.Refer to the new release dated September 11, 2014 for the complete text of this cautionary statement.

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Lydian’s Amulsar Gold ProjectPermitted for Construction

Lydian International is anemerging gold developer. Its100% owned Amulsar GoldProject will be Armenia’slargest gold mine, with totalestimated mineral resourcescontaining 5 million ounces*,and targeted production at200,000 ounces annually.

The Mining Right wasapproved for Amulsar in late2014, allowing Lydian toproceed with development.

Amulsar is a compellingopportunity for a large scale,low cost operation utilizingopen pit mining andconventional heap leachprocessing.

* See details on slide 11

Scale Recoverable gold of 2.1 million ouncesInitial 10 year mine lifeUpside potential: inferred ozs & extensions

Operations 10 million tonnes per annum0.97 gpt initially, 0.77 gpt life of mine84% gold recoveries and 2.8:1 strip ratio

Model Results Initial capital costs of $426 millionLow all-in sustaining costs of $701 per ounceAccelerated after-tax cash flows

Economics After-tax unleveraged IRR of 20.2%NPV5% of $306 millionBoth assuming $1,250 gold price

Feasibility Study Highlights

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Corporate SnapshotStrong Positioning

Symbol TSX:LYD

Share Capital Shares Outstanding 182.2 millionStock Options 5.6 millionFully Diluted Shares 187.8 million

Market Cap At C$0.55 C$100.2 million

Cash At 31-Dec-14 C$12.6 millionBought Deal, Net C$15.5 million

Financing Debt: 31-Dec-14 NilOff Balance Sheet 3% Royalty

Capped: $20 million

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Research Coverage Bank of Montreal, Andrew KaipEdgecrest Capital, Andrew MikitchookGMP Securities, Oliver TurnerHaywood Securities, Tara HassanNational Bank, Shane NagleRBC Capital Markets, Jonathan GuyScotiabank, Trevor Turnbull

Top Shareholders SprottInternational Finance CorporationEuropean Bank for Reconstruction/DevFranklinVan Eck Gold FundInvescoFidelityRBC Global Asset ManagementOther, North American Weighted

Corporate SnapshotRenewed Research Coverage & Top Shareholders

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Strong Board Depth of technical and financial experienceGlobal diversityIndependent from management

Proven Management Successful mine building experienceTransitioning to development organizationGrowth oriented backgrounds

Positive Feasibility Study Large scale deposit and production profileConventional mining and processingLow all-in sustaining costs

Mining Right Approved Mining Right and EIA aligned with FSCovers full footprint, facilities and mine planDemonstrates support by Armenian Gov't

Key Accomplishments of 2014

Lydian: Laying CornerstonesSuccessfully Transitioning to Project Construction Phase

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Gordon Wylie (Chair) Non-Executive Director Howard Stevenson President, CEO & DirectorMember since 2009 32 yrs mining experience Member since 2014 25 yrs global mining experience

AngloGold-Ashanti Global Alacer Gold President & COOExploration Manager Meridian & Gold Fields

Tim Read Non-Executive Director Bill Abel Non-Executive DirectorMember since 2014 40 yrs banking & mining exec Member since 2013 40 yrs professional mining eng.

MD/Co-head Mining & Minerals Global assurance, mining andat Merrill Lynch; Adastra CEO project mgmt experience

Steve Altmann Non-Executive Director Vahan Kololian Non-Executive DirectorMember since 2014 MD at Morrison Park Member since 2014 Founder TerraNova

Desjardins Head of Mining Co-founder Polar CapitalBanking and corporate exper. Other mining/industrials boards

Strong BoardDevelopment-Oriented; Independent, Diverse Experience

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Proven ManagementLeadership Experience for Development & Operations Teams

Doug Tobler Chief Financial Officer Didier Fohlen Executive Vice PresidentSince 2014 33 yrs finance, accounting and Since 2012 31 yrs mining & minerals

mining experience experienceAlacer Gold CFO 15 yrs World Bank GroupPwC,Equity & debt markets BRGM & Areva Mines

John Naisbitt Amulsar Project Lead Dr. Hayk Aloyan MD, Geoteam (Armenia)Since 2014 35+ yrs int'l project development Since 2006 17 yrs mineral exploration

Project leadership - Armenian metallogenesis and AngloGold-Ashanti, Lumina resource specialistCopper, Gold Fields & others Local leadership & expertise

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Amulsar Gold ProjectCentral Location in Key Corridor

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Utilities

High tension power lines, substations,fiber optics, gas line & water at site

Local Communities Resources for supplies, housing, otherDedicated local workforce

Transportation Adjacent to existing road & rail routesSealed highway from Yerevan to site

Amulsar Gold ProjectAccessible to Key Infrastructure

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Amulsar Gold ProjectLarge Scale Oxide Deposit; Conventional Operation

Tonnes (Millions)

Gold Grade

(g/t)

Silver Grade

(g/t)

Contained Gold

(Millions)

Contained Silver

(Millions)Mineral ResourcesMeasured + Indicated 122.4 0.77 3.5 3.0 13.9 Inferred 106.2 0.59 2.6 2.0 9.0

Mineral ReservesProven + Probable 101.8 0.77 3.6 2.5 11.9

Years 1-5Life of

MineAccelerated Cash Flow PlanAnnual production 247,000 205,000 Grade (g/t) 0.97 0.77 Gold Recovery 82.4% 84.2%Strip ratio (w:o) 3.0 2.8 All-in sustaining cost ($/oz) 694$ 701$ After tax cash flows ($M) 574$ 961$

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$ Millions$/ Ore Tonne $/Oz Gold

Mining equipment 102$ Mining 7.58$ Processing facilities 178$ Processing 3.72$ Other 40$ General & Admin 1.38$ Total Direct Costs 319$ Other 0.76$

Total Cash Costs 13.42$ 642$ Indirects 24$ Owners costs 39$ Corporate G&A 0.51$ Contingency 44$ Sustaining capital 0.74$ Total Initial Capital Costs 426$ All-in Sustaining Costs 14.68$ 701$

Capital Costs Operating Costs

Capital & Operating CostsFeasibility Study: Key Components

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Growth PotentialSizable Upside Within & Near Reserves Pits

$900 Reserve Pit Shell

$900 M+I+IPit Shell

Tonnes (Millions)

Grade (g/t) Contained Ounces

Resource ConversionIn pits - Inferred 34.7 0.57 636,000 Strong conversion historyBelow pits - All categories 43.7 0.73 1,026,000

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Growth PotentialAdding Value through Production and Cash Flow Profiles

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Gold Production After-tax Cashflow

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Amulsar Mining Right ApprovedFinal Step Achieved, Allows Amulsar Development to Proceed

Approved November 2014 Aligned with Development Plans• Consistent w/ updated feasibility• EIA - Approved by Minister Nature Protection• Pending ESIA for lender group

Comprehensive Approval, Covers:• All infrastructure• All three pits• Footprint of operating activities• Nature & duration of mining operations

Priority Support by Armenian Gov't Legislative Process up to 12 MonthsCompleted in Only 4 Months from Filing Date

• July 2014 - Application filed• August/September 2014 - Public Hearings• August - October 2014 - Technical Expert Reviews• August 2014 - Technical Safety Program Approved• October 2014 - EIA Approved• November 2014 - Mining Right Approved

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Project FinancingEarly Cash Flows Support Debt Capacity

Financing Requirement Capex 426$ Financing costs 26 Working capital 10

462$

Overrun facility TBD

Debt Component Total debt facility target $300Possible sub-debt trancheTarget close Q4 2015

Debt Sources International Financial Institutions Equity Sources Reduce equity requirementCommercial Banks Vendor partneringAlternatives: Streams/Royalties Asset level minority partner

Millions

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Next StepsEnhance Value, Begin Groundwork for Construction

In Progress Land AcquisitionAdvance Project Debt ● Publish ESIA for Equator Principles ● Mandate and early due diligencePre-Construction ● Project execution plan & owner's team ● Value engineering & optimization ● Environmental and social management ● Broad stakeholder engagement

Upcoming Engineering Design ● Geotechnical drilling ● Metallurgical testing ● Basic engineering - process facilities ● Detail engineering - roads & BRSFEarly Works ● Front end engineering design (FEED) ● Earthworks & surface water control ● Temporary construction facilities

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Lydianinternational.co.ukmoreinfo@lydianinternational.co.uk