April-May 2007 Private Equity Financing Exploring for GOLD in India.

April-May 2007 Private Equity FinancingApril-May 2007 Private Equity Financing

Exploring for GOLD in India

April-May 2007 Private Equity Financing

Indo Gold Mines Pvt Ltd

Indo Gold Limited70%

Metal Mining India Pvt Ltd30%

Free Carry to BFS (Bhukia)

Indian JV Company


Company Highlights

• 2 years since start of JV and incorporation of company

• A$5.8 million private equity financing (23.1 M shares)

• No JORC-compliant resources at outset

• Rapid build-up in JORC-compliant Inferred Mineral Resource gold inventory reported:

– 22nd Aug 2005 0.57 Moz– 8th Sept 2006 1.0 Moz– 3rd Oct 2006 1.74 Moz (1.22 Moz attributable)

• Huge upside; moving to list shares on AIM in 2007


Properties

• Rajasthan main focus– Jagpura Project

• Applications pending elsewhere


Udaipur – our regional baseEarly morning on Lake Fateh Sagar

Water infrastructure built circa. 1678 by Maharana Jai Singh


Geology

• Archaean – Proterozoic cratonic terrain similar to Australia

• World-class deposits– Iron ore– Base metals– Gold– Diamonds– Coal– Chromite


Large Mines/DepositsKhetri140 Mt @ 1.4% Cu, 0.5 g/t Au

Rampura-Agucha64 Mt @ 13.5%Zn,1.9%Pb,45

g/tAg

Rajpura-Dariba20 Mt @ 7% Zn, 2% Pb, 100 g/t Ag

Zawar69 Mt @ 4% Zn, 2% Pb, 50 g/t Ag

Ambamata8.3 Mt @ 2% Cu, 6% Zn, 6% Pb

Bhukia? >2 Moz Au

RajasthanMining Culture

Oil/gas, Lignite


Rampura-Agucha

World-class ProterozoicZinc-Lead-Silver mine


We are Exploring in ‘Elephant Country’!


Tenements 2,135 km²

2 RPs granted

2 RPs applied

1 PL applied, ‘in process’


Regional Geology

New Gold (Copper) Province

Ancient (?2000 years) gold and copper workings

Very limited modern exploration


Bhukia Prospect Geology

• Multiple zones defined by ancient workings, GSI/HZL drilling (wide-spaced)

• Geology dominated by dolomites, quartzites and calc-silicates

• Geology comparable to other Proterozoic terrains (e.g Mt Isa district )


Lithology• Dolomitic Marble


Lithology• Quartz Albite Alteration


Lithology• Calc Silicate Alteration


Lithology• Gossan


Bhukia

Gossan Outcrops

Panch Mahuri

Delwara South


Bhukia

Ancient Workings

Panch Mahuri

Delwara


Bhukia Prospect - Soils & Resource Zones

High-order soil anomaly, open

IGL’s soil sampling adds greater definition and discovers extensions

Soil sampling continuing


Bhukia Prospect JORC Mineral Resources

Zone Inferred Net

Attributable

Tonnes Au g/tAu

ouncesto IGL (70%)

Mahi24,100,00

01.3

1,010,000

710,000

Panch Mahuri

Main Domain 2,500,000 2.9 230,000 160,000

Low-grade Domain

11,900,000

1.3 500,000 350,000

Sub-total14,400,00

01.6 730,000 510,000

Total38,500,00

01.4

1,740,000

1,220,000

Notes:Rounded to the appropriate number of significant figures

Resource estimates by Golder Associates Pty Ltd, September 2006


IGL Drilling

at Panch Mahuri Zone

at Mahi Zone


Mahi Zone

• 24.1 Mt @ 1.3 g/t Au

• Resource outline extends around ancient workings

• More drilling required to close-off


Mahi Zone

• 200 Level Mineral Resource Blocks


Mahi Zone

• Section 6110 N Mineral Resource Blocks


Mahi Zone

• Section 6360 N Mineral Resource Blocks


Panch Mahuri Zone • Section 6960 N Mineral Resource Blocks


N

0 m 500 m

Resource Zones

Plan Viewshowing ancientworkings


N0 m

500 m

Resource Zones

Isometric Viewshowing ancient

workings


N0 m

500 m

Bhukia Perspective Quickbird Satellite Imageshowing resource zonesat surface


Mahi Resource • Section 6300 N - Preliminary Pit Optimization


Grassy Hill


Drill Core• Early Barren Massive Pyrrhotite Breccia• 0.35g/tAu, 0.02%As, 0.04%Cu


Drill Core• Mineralised Massive Pyrrhotite Breccia, With Asp• 3.72g/tAu, 1.18%As, 0.11%Cu


Drill Core• Mod to High Grade Shear Controlled Asp Mineralisation• 1.63/2.64g/tAu, 0.38/2.62%As, 0.25/0.18%Cu


Drill Core• Low Sulphide Mineralisation• 2.51/7.49g/tAu, 0.07/0.01%As, 0.13/0.05%Cu


Drill Core• Late Cross-cutting Chalcopyrite Mineralisation• Tourmaline Flooding• 0.50/3.2g/tAu, 0.87/1.02%As, 0.33/0.27%Cu


Metallurgical Considerations

HZL Results:• Deemed partially refractory

• Maximum 75% recovery by direct leach (CIL)

• Flotation concentrate & regrind – up to 85% recovery

IGL Preliminary Results:• 3 composites tested so far, low, medium and high

sulphur types

• Recoveries 79% and 84% by combined gravity+leach (CIL) with conventional grind; expect 90% with fine grind

• 90% of gold reports to concentrates


Permitting Issues

Bureaucracy!

Environmental & Forestry approvals granted (first foreign company in Rajasthan)

Pioneering project so we lead, but suffer the steep learning curve!

Final approval of PL awaited


Targets

• Drill-out to commence first half 2007 subject to permitting approvals

• 65,000 metres in first phase

• Target +5 Mozs (+3.5 Mozs equity) in Meas + Ind + Inf Resources

Bhukia

Elsewhere • Explore 60 km along the Jagpura province where Bhukia-like targets are present

• Maximize our pioneering position in India


Bhukia Prospect - Soils & Target Zones

High-order soil anomaly, open

IGL’s soil sampling adds greater definition and discovers extensions

Soil sampling continuing


Bhukia

Ancient Workings

Timran MataLargest Ancient Open Pit

No GSI ‘Resource’ Estimates AvailableHigh order soil anomaly

Person standing at

edge of open pit here


Bhukia Prospect – Size Comparisons

Cadia Total 27.9Moz

Cadia Open Pit 11.9Moz

Telfer Open Pit 13.0Moz

Bhukia ???????


Bhukia Prospect – Size Comparisons

TELFER OPEN PIT

COWAL CADIA HILL OPEN PIT

BHUKIAPOTENTIAL

Strike (km) 3.0 1.0 2 >3

Width (km) 1.5 1.0 1 1.5

Depth (m) 650 360 450-1000 >200

Reserve (Mt) 340 57.7 120 >40

Reserve g/tAu 1.20 1.34 0.79 1.40

Reserve %Cu 0.11 - 0.17 0.14

Total Gold (Moz) 13.0 2.5 3.0 >2

Gold equiv. grade (g/tAu)

1.57 1.34 1.36 1.87


Indo Gold Limited• Exciting new gold (copper) province in India

• Multi-million ounce potential

• Growth by own exploration

• Bhukia – a possible very large, future mining centre?


IGL - Financials

• 23.1 M shares on issue, 8.65 M Options

• A$2.7 M cash

• Apr-May Private Equity Round Max A$10M at A$1.25 (8M shares) Planned Resulting in 31.1 M shares on issue (undiluted) New notional market cap. will be A$39 M

• Sets up company to commence Bhukia drill-out prior to IPO if necessary


IGL – Planned IPO

• Still on track for planned Admission London AIM in late-2007 or early-2008 subject to permitting and market

• In parallel, new Placement for +A$10 M

• Bhukia – target for first 2 years after permitting is +5 Moz (+3.5 Moz equity) in

resources


THE END?

Thank you

April-May 2007 Private Equity Financing Exploring for GOLD in India.

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