Auriga Gold Corp Presentation - February 2012

Mine Development and Exploration at theMaverick Gold Project, Flin Flon, Manitoba

February 2012

TSX‐V: AIA

www.aurigagold.ca 2

Forward‐Looking Statements

Some statements contained in this presentation are forward‐looking and, therefore,involve uncertainties or risks that could cause actual results to differ materially. Suchforward‐looking statements include comments regarding mining and milling operations,mineral resource and reserve statements and exploration program performance. Factorsthat could cause actual results to differ materially include metal price volatility, economicand political events affecting metal supply and demand, fluctuations in mineralizationgrade, geological, technical, mining or processing problems, exploration programs andfuture results of exploration programs, future profitability and production.

Historical resources in this presentation are historical estimates that predate NI 43‐101and are not compliant with current definitions, and have not been verified by thecompany; consequently, they should not be relied on by investors.

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Auriga Gold at a glance

Centrally located near existing mines and

infrastructure in the Flin Flon Mining

District, Manitoba

Maverick Gold Project (100%) ‐ManitobaReduced risk near‐term gold production, with significant exploration upsidePast producing property, with significant onsite infrastructure

1000 tpdmill, ancillary facilities, ramp and underground workings,road access to property, power and rail lines

Positive PEA on U/G and open pit test miningCAPEX: $18.1 Million

NI 43‐101 Indicated Gold Resource Estimate:174,000 ounces Indicated, 558,000 ounces Inferred Continued resource expansion and upgrade drilling at Nokomis and Puffy deposits

Mokoman Copper Gold Property (100%) ‐ Saskatchewan1,500 ha property with a historic resource of 6.0 million tonnes at 0.90% Cu and 0.18 g/t Au (Non NI 43‐101)

Fox PGM‐Ni‐Cu Properties (75‐100%) ‐Manitoba58,000 ha with high potential for PGMs + Ni/CuGreat Falls zone with grab samples up to 5 g/t Pt‐Pd+Au, 1.1% Ni and 2.3 % Cu

Prosperity North Property (100%) – British Columbia12,622 ha (126 km2) consisting of 29 mining claims, near Williams Lake, BCDrilling in the 90’s identified a gold‐copper porphyry‐style mineralization, with values up to 0.17% Cu, 1.0 g/t Au, and 348.6 g/t Ag

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Capital Structure and Share Price

Auriga Gold Corp. (AIA: TSX‐V)

Share data and cash position as of February 1, 2012

Shares Outstanding 44,034,052

Warrants and Options O/S 17,567,791

Fully Diluted 61,660,013

Market Capitalization $17.6 million

Cash Position $0.5 million

Cash from options and warrants $3.6 million

No Debt

Options and Warrants

No. of Warrants /

Options

Avg. Exercise

Price

Options 2,057,500 $0.30

Common share warrants 15,510,291 $0.44

Expiring b/w Oct 2012 – July 2013

Significant Holders Ownership

Pioneer Metals (Barrick Gold) 9.1%

Claude Resources Inc. 7.8%

Institutional Holdings 7.0%

Management and Directors 4.5%

Xstrata Canada 2.7%

AIA: TSX‐V Share Price

Source: tmx.com and Auriga Gold

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ManagementRichard H. Sutcliffe, Ph.D., P.Geo., President & CEO, DirectorOver 30 years of experience in mineral exploration and mining including executive management and director positions with North American Palladium, Patricia Mining Corp. and URSA Major Minerals Inc.. Dr. Sutcliffe was President & CEO of Patricia Mining where he planned and structured to the successful start‐up of the Island Gold Mine into production. At URSA Major, Dr. Sutcliffe brought the Shakespeare Nickel Mine from resource discovery to production as a 1,000 tpd direct shipping operation in the Sudbury mining camp. He has held various mining and geological positions with both private and public entities including the Ontario Geological Survey.

Vic Hugo, CMA, Financial Controller and CFOAn accounting professional with over 15 years of international financial management experience, particularly in the mining and manufacturing sectors.

Mike Kernick, General ManagerMr. Kernick has over 20 years experience in underground and open pit mining operations, particularly in narrow vein gold mining. Formerly Mine Superintendent at the Lake Shore Gold, Bell Creek Mine, Underground Superintendent at Trelawney’s Chester Mine and prior to that, Mine Manager at Liberty Mine’s Redstone Mine.

Eric Loch, PMP, Projects ManagerMr. Loch has over 20 years experience successfully building capital projects with understanding of project engineering and construction in the mining and industrial sectors. He has held senior project management positions with DeBeers and Rio Tinto.

Bruce Mackie, M.Sc., P.Geo., Geological and Technical AdvisorMr. Mackie is a professional geologist, with over 35 years of mining industry experience in Canada and internationally. He has a proven exploration record, having managed several successful projects in uranium, gold and base metals in senior positions with Noranda, Hemlo Gold and North American Palladium.

Alison Tullis, Investor Relations ManagerSeven years of investor relations experience in a variety of industry sectors most recently providing IR consulting services to mining companies. Prior to joining Auriga Gold Corp., Ms. Tullis provided IR services for Coastal Contacts Inc., Arian Silver Corporation and Boxxer Gold Corp.

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Directors

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Richard H. Sutcliffe, Ph.D., P.Geo., President & CEO, Director(See management slide)

Chris Irwin, LL.M., DirectorMr. Irwin is President of Irwin Professional Corporation, a corporation providing legal services mainly to the natural resource sector. Mr. Irwin is a director and/or officer of several public companies including: Seafield Resources Ltd.; Laramide Resources Ltd.; RoscanMinerals Corp.; Canada Lithium Corp.; Trelawney Mining and Exploration Inc. and Ursa Major Minerals Incorporated. Mr. Irwin has served as a member of the independent committees for Trelawney Mining, Exploration Inc. and Seafield Resources Ltd.

Brian Robertson, P.Eng., DirectorOver 30 years experience in corporate management, exploration programs, project management, mine permitting, construction, development and operation as well as the evaulations or corporate acquisitions; is currently President and CEO of Source Exploration Corp. Mr. Roberston was the President of Nuinsco Resources Limited and Victory Nickel Inc both junior base metal exploration and development companies.

James D.A. White, DirectorMr. White is the Managing Partner of Baynes & White, a Toronto‐based pension and benefits actuarial consulting firm. He is also a director of PC Gold Inc. and Umami Sustainable Seafoods Inc.

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Maverick Gold ProjectFlin Flon Gold and VMS Base Metal Districts

Strategically located in one of Manitoba’s premier mining camps‐ access to people, infrastructure and GOLD ‐

MAVERICK GOLD PROJECT

FLIN FLON

SNOW LAKE

SHERRIDON

CRANBERRY LAKE

Positioned For Growth

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Completed Milestones at Maverick Gold

• Jan 2012: Positive Preliminary Economic Assessment on the Combined U/G and Open Pit Test Mining operation

• Jan 2012: Hired General Manager, Mike Kernick• Jan 2012: Agreement signed with Manitoba Hydro• Nov 2011: Increased ownership and property

position at Maverick Project – 100% ownership of a 20 km gold bearing horizon

• Oct: 2011: Initial Open Pit Preliminary Economic Assessment

• Aug 2011: Upgraded Gold Resources at Puffy Lake (NI 43‐101 compliant): 174,000 oz Indicated Au and 558,000 oz Inferred Au

Planned Milestones at Maverick Gold

• Development activities onsite• Refurbish Puffy Lake Mill and surface facilities• Site development • Prepare open pits

• Community and environmental engagement (underway)

• Permitting amendments

• Resource expansion drilling, ongoing: targeting 1 million plus ounces

• Puffy deposit infill and step out drilling• Nokomis deposit upgrade

• Target test mining from open pits in Q4 2012

Moving the Maverick Gold Project towards Operations

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Maverick Gold ProjectClear Focus on Mine Development and Exploration

Puffy Lake Mine and Mill Development• Development activities underway:

Refurbishment of 1,000 tpd mill, ancillary facilities, and ramp to u/g

• Plan to have Puffy Lake Mine advanced to test mining operation by the end of 2012

• Estimated mine plan: recovery of 342,000 ozover 7.5 years at the Puffy Deposit

Resource Expansion • Expand gold resources at Puffy Lake

deposits by infill/step out drilling• Upgrade historical resources at the

Nokomis deposit (68,000 oz Au non‐ NI 43‐101) with intent of processing the Nokomis deposit at the Puffy Mill

• Targeting >1 million ounces of gold over 20 km gold bearing trend

• Developing additional drill targets along the gold bearing trend

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Combined Open Pit and Underground Development Plan

Combined Open Pit and Underground Preliminary Economic Assessment

• Pretax NPV (8%) $79.6M

• Pretax IRR: 84% ($1400/oz gold)

• 348,000 oz Au recovered from 2,039,000 tonnes

• 750 tpd Milling @ 4.8 g/t Au head grade

• 7.5 year mine life

• CAD$950/oz cash cost

• $18.1 million CAPEX includes mill, surface facilities, power line and pit construction –and contingencies

• Payback projected in 20th month of mill feed processing

For more detail on the PEA, please see slide 25

Portal/Ramp to U/G Mine

N

1000 tpd Mill

1.5 km strike length, open on strike and to NE


Puffy Lake DepositCross Section Looking West

Selected Intercepts from section 1000N

Hole From (m)

To (m) Length (m)

Gold (gpt)

A3‐02175.8 177.8 2.00 9.19

incl. 176.3 176.6 0.50 23.80

A3‐04 58.80 59.35 0.55 3.32

and 63.50 65.00 1.50 11.88

incl. 63.50 64.00 0.50 28.55

A3‐05 52.8 55.3 2.50 11.99

incl. 53.3 53.8 0.50 52.61

and 80.7 81.2 0.50 65.42

and 91.0 92.4 1.43 5.73

A3‐07 298.1 300.1 2.00 30.44


Puffy Lake Mine LongitudinalFacing Site Grid West (245 deg True)

Longitudinal section showing proposed open pits, existing underground workings and proposed stopes from all zones.


Utilizing Existing Puffy Lake Mine Infrastructure ‐ 1,000 tpd mill

Existing 1,000 tpd mill provides start‐up to production at reduced capital cost

Existing portal and ramp to underground mine workings

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Significant Resource Expansion Potential

Targeting resource increase to >1 million gold ounces

On‐going drill program to expand resources

Major mineralized structure over 20km, with the potential to extend the life of mine

Several showings found along strike

Initial Puffy Lake NI 43‐101 Gold Resources of 174,000 ozIndicated and 558,000 ozInferred

Historical near surface resources at Nokomis, potential mill feed for Puffy Mill

Drill hole A3‐480.50m @ 23.68 g/t Au

Puffy Lake Deposit and Onsite Mill

Nokomis Deposit


Nokomis Deposit8 km Northeast from the Puffy Lake Mill


Nokomis PropertyCross Section Looking Northeast

Potential Open Pit:Near surface mineralization

Confirmation drilling program Q1 2012

Upgrade and increase historical resources to NI 43‐101 compliancePotential feed for Puffy Lake Mill


Regional Deposits

Flin Flon and Lynn Lake greenstone belts currently host substantial gold ounces

+ 4 Mln oz of gold produced from FlinFlon VMS deposits

New Britannia Mine (Snow Lake) produced over 1.4 Mln oz Au

Lynn Lake area, including MacLellanMine, produced over 430,000 oz Au

Prosperity North Property

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Takeso’s Prosperity Deposit1.0 billion tonnesM&I Resources 5.3B lbsCu; 13.3M oz Au

Prosperity North Property

100% ownership of 12,622 ha (126 km2) over 29 mining claims, Williams Lake area,British Columbia Acquired from Pioneer Metals, subsidiary of Barrick Gold Corporation (“Barrick”), subject to a 2.5% NSRContiguous with Taseko Mines’ Prosperity copper‐gold deposit, a gold‐copper porphyry

M&I Resource of 1.0 billion tonnes containing 5.3 billion lbs of Cu and 13.3 million oz Au One of the largest undeveloped copper‐gold deposits in Canada

Prosperity North Property covers a similar geological trend to the Prosperity deposit and contains a largely untested Induced Polarization (IP) anomaly that is consistent with a porphyry‐style copper depositPioneer Metals drilling on Prosperity North in 1990’s identified a a gold‐copper porphyry system with values up to 0.17% Cu, 1.0 g/t Au, and 348.6 g/t Ag

Evidence the porphyry system is the fault offset extension of the Prosperity Deposit Work recommendation to outline the extension of the higher grade copper zone encountered in the bottom part of the Prosperity Deposit

Initial drilling program planned in fall 2012 www.aurigagold.ca19


Maverick Gold Summary

Maverick Gold Project centrally located in one of Manitoba’s premier mining camps– 65 kms northeast of Flin Flon, Manitoba with direct road access to mine site– Near operating gold and base metal mines, rail line and power infrastructure

Positive PEA Mining and Milling operations, using NI 43‐101 resource estimate at Puffy Lake property : open pit and underground– Significant gold resource expansion potential at Maverick Gold Project– Currently drilling to further delineate Puffy Lake deposit and increase project

resources– Experienced management with a proven record of mine development, resource

discovery and expansionSignificant existing infrastructure at past producing Puffy Lake mine– Substantial reduction in reconstruction and start‐up costs– Initial mine plan to focus on near surface resource for open pits– Existing portal and ramp to underground workings offers incremental near term gold

production– 1,000 tpd modern flotation mill and ancillary facilities onsite

Planned Gold Test Mining Operations in Q4 2012!


For more information:

Auriga Gold Corp. (AIA:TSXV)8 King Street EastSuite 1300Toronto, ON

Alison TullisManager, Investor Relations416‐214‐[email protected]

www.aurigagold.caAIA_AurigaGold


Mokoman Copper‐Gold Property

100% ownership in 5 staked claims, subject to 1.5% NSR royalty1,500 ha property with an existing resource of 6.0 mln tonnes at 0.90% copper and 0.18 g/t gold (Pre NI 43‐101)Located in Saskatchewan extension of the Flin Flon greenstone beltProperty includes significant geological/geophysical database with drill ready targets2011 work program will include– Geophysical data review to

develop drill targets – Initial drill program planned

within six months

Strategically located near Flin Flon, Manitoba and existing base metal mining and processing

operations


Fox (PGM‐Cu‐Ni) Properties

100% owned, 3 mineral exploration licences, and 75% owned staked claims, with NSR and back‐in right58,000 ha land package in NE extension of Thompson Nickel BeltSignificant potential for PGM, Nickel & Copper deposits in four target areas– Great Falls – hosts grab samples

up to 5 g/t Platinum, Palladium and Gold, 1.1% Nickel and 2.3 % Copper

– Yakaw Lake – 1.5% Nickel over 2 metres

Completed NI 43‐101 geological report and drill ready targets2011 work program includes:– 1000 m winter drill program – Geophysical data review to

develop additional drill targets

A major PGM belt located near existing mining operations and

infrastructure in the Thompson

Nickel Belt, Manitoba,

Canada


Maverick Gold Project Mineral Resources ‐ All Zones

Puffy Lake @ 2.5g/t cut off grade (underground model)

Resource Category Tonnes Grade (g/t) In‐situ Ozs Gold

Indicated 702,000 6.29 142,000

Inferred 3,018,000 5.65 548,000

Puffy Lake @ 0.60g/t cut off grade (open pit model)


Indicated 242,000 4.16 32,000

Inferred 78,000 3.81 10,000

Nokomis additional satellite resources (underground model)


Proven and Probable 349,110 6.10 68,523

* Historical resources in the presentation are historical estimates that predate NI 43‐101 and are not compliant with current definitions, have not been verified by the company and consequently should not be relied on by investors.

NI 43‐101 Resource EstimateUnderground: 3,720,000 tonnes containing 690,000 oz Gold at a cut off grade of 2.5 g/t; and Open Pit: 320,000 tonnes containing 42,000 oz Gold at a 0.6 g/t cut off grade

Historical Resources

The resource was estimated by Fred Brown, CPG, and Eugene Puritch, P.Eng. of P&E Mining Consultants Inc. Mr. Puritch and Mr. Brown are Qualified Persons ("QP’s") as defined by NI43‐101. Bruce Mackie, P.Geo., was QP for the Company’s drill program and supervised the preparation of the scientific or technical information for the property. The contents of thispress release has been reviewed and approved by Mr. Brown, Mr. Puritch and Mr. Mackie. An NI 43‐101 technical report supporting this resource estimate will be filed on SEDAR within 45days of this press release.

• Open pit mining method and Conventional open pit mining; costs by contractor Mining: $5.50/ tonne potentially economic mineralization

Definition drilling and grade control ‐ $1.41 / tonne of pot. economic mineralization Waste rock stripping ‐ $4.50/ tonne waste rock

• Underground mining method Room and pillar (Slush blasted muck down 30° dip to sill drift)and costs by Company personnel Ramp and ventilation raises ‐ $3,000 / metre

Mining and transport to mill ‐ $106/ tonne milled Definition drilling and grade control ‐ $2.97/ tonne milled

• Other costs Processing ‐ $25/ t milled Tailings and water management ‐ $1/t milledGeneral and Administration – $11.06 / t milled Underground mine indirect costs ‐ $4.40 / t milledMine closure ‐ $1.3 M

• Total mineralization milled 2,039,000 t• Average diluted head grade 5.8 g Au/t • Mill throughput 750 tpd• Mill recovery 90%• Total estimated gold recovered 348,000 troy oz Au• Gold price US$1,400/oz Au• US$:CAD$ exchange rate US$1 = CAD$1.014• Gold royalty 3%• Total gross revenue from gold sales $478M• Pre‐tax undiscounted cash flow $130M• Pre‐tax NPV(5%) $95M• Pre‐tax NPV(8%) $79M

Combined U/G and Open Pit PEA Highlights

Pre‐tax IRR 84%Pre‐tax Payback 2.5 yrs after the start of the project.

(Projected in 20th month of mill feed processing)

Auriga Gold Corp Presentation - February 2012

Investor Relations

Transcript of Auriga Gold Corp Presentation - February 2012