Executive Presentation April 2009. Slide 2 first mover gold explorer This document may contain...

Executive Presentation

April 2009

April 2009Slide 2 first mover gold explorer

This document may contain certain "forward–looking statements", including, but not limited to, statements

concerning current and future drilling programmes, estimation of mineral resources, the continuing

development plan, the type of mineralization present and expected results. Information inferred from the

interpretation of drilling results may be deemed to be forward looking statement, as it constitutes a

prediction of what might be found to be present when and if a project is actually developed. Statements and

estimates concerning mineral resources may also be deemed to be forward looking statements in that they

involve estimates, based on certain assumptions, regarding the mineralization that would be encountered if

and when a mineral deposit is actually developed and mined. Forward looking statements are not historical

facts, and are subject to a number of risks and uncertainties beyond management’s control. There can be no

assurance that such statements will prove to be accurate. Actual results and future events could differ

materially from those anticipated in such statements. Risks and uncertainties that could cause results or

future events to differ materially from current expectations expressed or implied by the forward–looking

statements include, among other things, but without limitation, those set forth in the prospectus of African

Aura Resources Ltd. (“African Aura”), and particularly in the section entitled “Risk Factors”.

For more information about the Company’s properties and projects, please refer to the technical report dated

31st October 2007 prepared by Martin Pittuck and Gareth O’Donovan of SRK Consulting (UK) Limited in

accordance with the requirements of National Instrument 43–101 Standards of Disclosure for Mineral Projects

(“NI 43–101”). This document is available at www.sedar.com under African Aura’s public documents.

The technical information contained in this document was compiled by qualified persons under NI 43–101 who

have consented to the inclusion of such technical information in the form in which it appears in this document.

Disclaimer


To be the pre-eminent TSX-V listed West African focussed

pioneering gold explorer and developer in harmony with the

communities in which we operate; growing our resources

through discovery, merger and acquisition to create value for all

current and future stakeholders.

IntroductionOur vision


Introduction

Focussed on West Africa with a clear vision for growth

Experienced team in discovering and building gold mines

Highly prospective gold portfolio in Cameroon and Liberia

Significant iron ore deposit being advanced at Djoum

Majority owner of Cameroon uranium explorer Ridgeway Energy

Incorporated in BVI; listed March 08 (TSX-V Tier 1: “AAZ”)

C$6.8m cash on hand, 2009 total budget of C$1.69m

Overview


Our portfolio

Highly prospective licence base from first mover advantage

9,500km2 in Cameroon and 400km2 in Liberia


Define 2 x 1M oz gold resources in Cameroon

Undertake iron ore JV

Seize value-adding JV, merger and acquisition opportunities

Ensure shareholders are aware of strategy and progress

Build on our reputation for operational excellence

Objectives


David Netherway, Independent Chairman

Mining engineer (30+ years); CEO Shield Resources; former

CEO Afcan (Eldorado $115M) and former director Equigold

(EQI-A), Director of Orezone (OZN-T), KazakhGold (KZG-L),

Gold Mines of Algeria (GMA-L)

John Gray, President and CEO

Geologist (18+ years); Homestake, Noranda, Axmin and co-

founder of Northern Minerals and Basti Resources

Matthew Grainger, Independent Director

Geologist (9+ years); co-founded Altus Strategies & Ariana

Resources

Steven Poulton, Independent Director

Founder African Aura; Altus Strategies (CEO), Stellar

Diamonds; co-founder Ariana Resources (AAU-L)

Danesh Varma, Independent Director

Accountant (20+ years); CFO Canadian Zinc (CZN-T) and

Conquest Resources (CQR-V)

Manuel Lamboley, Independent Director

Investment banker (20+ years); ex-UBS, Williams de Bröe,

Kidder Peabody (Geneva)

Our team

David Swan, CFO

Accountant (30+ years); A Anderson, Oriel Resources

Mark Biddulph, COO

Geologist (14+ years); 11 years as senior geologist and

senior mine manager with Anglogold Ashanti

Ian Prince, Drilling Manager

Driller and mechanic (30+ years); with diamond drilling

and RC experience throughout west and central Africa

Primus Asua, Financial Controller Cameroon

ACCA qualified accountant (7+ years) with finance,

company secretarial and administration experience

Emanuel Blankson, Financial Controller Liberia

An Associate Member of the Liberia Institute of Certified

Public Accounts (20 years experience)

Bernie Jones, UK Office Manager

Finance and administrative assistant previously (5 years)

with Mano River Resources Inc

Geologists

A team of over 10 local and expatriate geologists


Pre-2006 2007 2007 2008

• August 98 – Incorporated in British Virgin Islands

• February – Exploration underway on East Kpo Licence, Liberia

• February – Positive drilling results from Fula Camp gold project in Liberia

• March – Listed on TSX-V raising C$9m (31 March 08)

• February 04 – name changed to African Aura Resources Ltd

• April – Granted gold exploration licences in Cameroon

• April – Licence holding increased in Cameroon

• April – Commenced 5,000m drilling program at the Batouri licence in Cameroon

• February 05 – Positive results from Phase One Gold Programme in Liberia

• June – Significant gold anomaly at Tenkeh Hill in Liberia & appointment of Directors

• June – Placing of C$9.5M pre–IPO financing (closed in July)

• April – Phase-2 gold exploration at Ntem and Rey Bouba licences in Cameroon

• April 05– Sign Diamond Joint Venture Agreement

• October – Two significant zones defined at Tenkeh Hill gold prospect in Liberia

• June – Exploration update at Rey Bouba and southern Cameroon licences

• May – Commenced iron ore exploration on the Djoum licence in Cameroon

• September 05 – Major new gold zones discovered in Liberia

• December – Drilling underway at Fula Camp gold project in Liberia

• June – Two further exploration licences granted in Cameroon

• May – Commenced 2nd round phase of exploration on Ntem licence

• June – Uranium exploration subsidiary (Ridgeway Energy) granted licences in Cameroon

• August – Commenced JV negotiations with major steel company

• September – Commenced strategic review in light of severe market corrections

Our growth story


Cameroon portfolio

5,950km2 ‘first mover’ land position – Au & Fe

3,480km2 (Ridgeway Energy) – U, Au & Fe

Stable democracy

Excellent infrastructure

Birimian and Archaean geology

Licence Country Reconnaissance Soil Grid Trenching Geophysics Drilling

Batouri Cameroon Completed Ongoing Ongoing Completed Ongoing

Djoum (Iron) Cameroon Completed Underway Q4 2008 2009 2009

Rey Bouba Cameroon Completed Underway Q1 2009 TBC 2009

Akonolinga Cameroon Completed Underway TBC TBC 2009

Ntem Cameroon Completed Underway Underway TBC 2009

Tchollire Cameroon Completed Q1 2008 Q2 2008 TBC TBC

Essong (uranium) Cameroon Underway Q1 2008 Q2 2008 TBC TBC

Bantadje (uranium) Cameroon Underway Q1 2008 Q2 2008 TBC TBC


Batouri gold project, Eastern Cameroon

1,000km2 licence

Objective 1M+oz Au resource

Drive-up drill targets

Untested artisanal workings

3.5km Kambele prospect

3km Mongonam prospect

4.5km Amndobi prospect


Kambele drill programme, Batouri

3 x 500m zones in 3.5km envelope of >250ppb Au in soils

Granite hosted quartz vein and stockwork deposit

Extensive artisanal pitting on coarse gold bearing veins

5,671m of diamond drilling completed in 55 holes (Dec 08)

High grade drill results: 1m @ 132g/t, 1m @ 35g/t, 1.5m @ 49g/t, 1.5m

@ 43g/t and 2.67m @ 66g/t


Amndobi and Dimako prospects, Batouri

Dimako

3km soil anomaly

Extensive pitting

Drill results include

2.4m @ 13g/t Au

1.1m @ 16g/t Au

Amndobi

4.5km soil anomaly

Trenching underway


Ntem gold project, SW Cameroon

1,000km2 licence in Archaean BIF + greenstone

Objective 1M+oz Au resource

Two x 2km zones identified

Trenching on 2km soil anomaly

>100g/t pan cons with VG suggest proximal sources


Rey Bouba & Tchollire gold projects

1,966km2 of licences in Birimian age-dated rocks

Regional scale structure: Central African Shear Zone

Multiple gold prospects along structure

Permissive volcano-sedimentary lithologies


Akonolinga & Djoum gold projects

1,994km2 of licences in Archaean BIF + greenstone

Gold associated with structural complexity

Anomalous gold in BIF

13km long iron ore target

Subject of a JV negotiation


100% subsidiary developing a major iron ore asset

Strategic partner opportunity under review

Djoum project: 13.5km dipole target with up to 65% Fe and 0% strip

Seeking to define an initial 500-1,000Mt JORC compliant resource

Fermont Mining, Djoum, Cameroon


Trained and equipped local team

Four licence areas totalling 3,480km2

High grade, syenite hosted Molybdenum – Uranium target identified

70% owned subsidiary (30% local partner) > Potential spin out

Consolidating quality uranium projects in Cameroon

Ridgeway Energy (Uranium), Cameroon


Liberia

Exploration since 2004 on 400km2 licence base, multiple projects

Archaean greenstone frontier gold province in West Africa

Comparable to: Tanzania, Canada, Guyana etc

Rapidly developing country & stable democracy


Liberia

East Kpo Licence (200km2)

Centred on Liberia’s largest reported historic

alluvial gold camps

Tenkeh Hill prospect discovered

Five further target areas defined to date

40km of Archaean greenstone belt

North Bea Licence (200km2)

Fula camp project drilled 2007/8

45km NE of 1.4M oz Au New Liberty Deposit

Selected intersects of 3.14 g/t Au over

12.45m and 5.37 g/t Au over 9.85m


ShareholderShares (M)

%

Management & Directors 7.87 11.7%

Firebird Global Master Fund II, Limited 4.74 7.0%

Arbitrage Research and Trading limited 4.43 6.6%

RBC Global Precious Metals Fund 3.80 5.6%

GOLD 2000 3.16 4.7%

AM2 (Bermuda) Limited 2.59 3.8%

Atlas Financial International Limited 2.40 3.6%

Sprott Asset Management Inc. 2.22 3.3%

Passport Capital 2.22 3.3%

SALIDA 2.00 3.0%

Pinetree Resources Partnership 1.87 2.8%

GAIA Resources Fund 1.86 2.8%

Other & private investors 28,20 41.9%

Total (Undiluted) 67.36 100%

Warrants 30/09/09 @ C$0.55 0.93

Warrants 30/09/10 @ C$0.60 10.56

Warrants 30/03/10 @ C$0.80 8.28

Employee Options (average C$0.29) 5.0

Total (Fully Diluted) 92.3

Share capital

Share price since March 08 (IPO)

Capitalisation summary

Shares on issue 67.36

Cash on hand (C$) C$6.2m

Cash per share C$0.10

Share price (31Mar09) C$0.10

Capitalisation (31Mar09) C$6.70m


West African focused pioneering gold explorer

An experienced board & team and strong shareholder base

Multiple gold projects defined from four years exploration

Resource drill programme in Cameroon

Strategic iron options under review in Cameroon

Consolidating Cameroonian uranium projects

First mover strategy creating

significant value for shareholders

Well financed

Summary


Registered Offices:

African Aura Resources LtdPasea EstateRoad TownTortolaBritish Virgin IslandsCompany No:290507

African Aura Resources (UK) Ltd 14 Station Road The Orchard Centre Didcot, Oxfordshire, OX11 7LLUnited KingdomCompany No:05944161

Principal Bankers:

HSBC Bank186 Broadway, DidcotOxfordshireOX11 8RPUnited Kingdom

Bank of Butterfield65 Front StreetHamilton HM 12, P.O Box HM195Bermuda

Brokers: Thomas Weisel Partners10th Floor70 York St.Toronto, Ontario M5J 1S9Canada

Haywood Securities800 BCE Place29th Floor, 181 Bay StreetToronto, Ontario M5J 2T3Canada

Solicitors: LV Conseil Institutionnels750, boul. Marcel-LaurinBureau 106, Saint-LaurentQuebec, H4M 2MCanada

Registrar & Transfer Agent

Computershare100 University Avenue, 8th Floor,Toronto, Ontario M5J 2Y1Canada

Independent Consultants:

SRK ConsultingWindsor Court, 1-3 Windsor Place Cardiff CF10 3BX

Auditors: Deloitte & Touche5140 Yonge StreetSuite 1700Toronto, Ontario M2N 6L7Canada

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Executive Presentation April 2009. Slide 2 first mover gold explorer This document may contain...

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