Yamarna BeltUnlocking a New Gold RegionUnlocking a New Gold Region Annual General Meeting21 November 2012

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Disclaimer

Important Notices

Nature of this document: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions.

Not an offer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed transmitted or viewed by any person in any jurisdiction where the distribution transmission or viewing of this document would benot be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

Not financial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products.

Forward-looking statements: Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance and results in future periods to differ materially from any express or implied estimates or projections.

It is recognised that it is common practice for a company to comment on and discuss its exploration in terms of target size and type. All statements contained in this presentation by the Company which refer to the potential quantity and grade of the target is accompanied by a detailed explanation of the basis for the statement. The potential quantity and grade for the target is conceptual in nature and, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, p p y y , p y, , , p y ,advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

U ifi d i f i Thi i i i f i (i l di i f i d i d f bli l il bl ) h h

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Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company.

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Corporate Summary

24 month share price Directors

Ian Murray Executive ChairmanZiggy Lubieniecki Executive Director

$0 60$0.70$0.80$0.90

ggyRussell Davis Non-exec Director (Founding)Kevin Hart Non-exec and Company Sec.Martin Pyle Non-exec DirectorDavid Woodall Non-exec Director

$0 00$0.10$0.20$0.30$0.40$0.50$0.60

Shareholders Corporate snapshot

$0.00

Shareholders Corporate snapshot

ASX Code GORIssued Shares (undiluted) 390M*Institutional

Performance Rights 1.8M*Unlisted Options 18M*Share Price A$0.14*Average daily volume ~2MM k t C A$54M*

Retail

Directors/ManagementMarket Cap ~A$54M*Net Cash $8.7M#

*As at  20 November 2012# As at 30 Sept 2012As at 31 October 2012, # shareholders ~ 6,800 2

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Y B ltYamarna Belt: A New GoldA New Gold RegionRegion

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Major New Gold Region

O f th t ti b t l t l d One of the most prospective, but least explored greenstone belts in WA

First and only Company to systematically First – and only – Company to systematically explore the region, discovered in 1990s

Exceptional exploration successes since 2009:Exceptional exploration successes since 2009:

o 13 new gold discoveries in 30 months

o > 100 gold targets

o JORC Resource of >1.2M oz Au so far

o 2009 discovery of high grade Central Bore

o Identification of 5 high-priority Gold Camps

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2012 Highlights 2012 Highlights

Unlocking the potential of a new gold region:The Yamarna Belt’Highlights• Three new gold targets identified at the Central Bore Area

EXPLORATION• Drilled more than 170,000 metres

o Discovered 11 prospects and anomalies• Three new gold targets identified at the Central Bore Area• Discovery of multiple new gold anomalies on the 33 kilometre Attila Trend– Tatar, VTEM, Western Ultramafics and two new zones at Khan North• Elvis prospect represents a possible parallel gold trend to the Attila Trend• Numerous high-grade gold values intercepted along the Attila Trend

o Discovered 11 prospects and anomalies• Completed macro review of entire belt to identify

high-priority gold camps (9 months of work)

• Numerous high-grade gold values intercepted across the Central Bore Area• Discovery of Dead Dog and Koopman’s Find gold prospect on the Tobin Hill gold trend• Discovery of Dorothy Hills (north) gold prospect on the Dorothy Hills Trend• Gold mineralisation at Dorothy Hills extended to 1.5 kilometres• Gold mineralisation at Tobin Hill extended to 1.1 kilometres

DEVELOPMENT• Measured and Indicated categories of Central

Bore Resource increased to 94%• Measured and Indicated categories of Central Bore Project Resource increased to 94%• Successful Central Bore Project Scoping Study underpinned its viability as a standalone project

Bore Resource increased to 94%• Scoping Study confirms viability of mining at

Yamarna

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Hi h P i it G ldHigh Priority Gold CampsCamps‘Smart Exploration’

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Smart Exploration Tools

Utilising a wide range of exploration tools to systematicallyUtilising a wide range of exploration tools to systematically unlock Yamarna’s potential

SAM S

Auger D illi

Dry-Bl i

Diamond, RC D illi Niton XRFSurvey Drilling Blowing Drilling Niton XRF

Prospecting Geological Mapping

Aero Mag & Gravity

IP and Analysis

RAB Drilling

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Under-Explored Gold Region

“Greenstones of Yamarna Terrane are similar in age and character to

the Kalgoorlie Terrane”Geological Survey of Western Australia, Oct 2010

Underlines Yamarna as a new gold region with potential for multi-million ounces of gold

Kalgoorlie Belt has produced more than 120M oz of gold

Yamarna is the fourth gold-rich shear gzone on the world-class Yilgarn Craton

8Map source: Geological Survey of Western Australia

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Conceptual targeting: Kalgoorlie R iRegion

Similar Geology to Kalgoorlie Gold BeltSimilar Geology to Kalgoorlie Gold Belt

Using 130 years of experience from the Kalgoorlie Belt for Yamarna

Allows quick, cost-effective generation of potential world-class gold targets

Conceptual Targeting

Gold deposits shown on Gravity image:p y g

Located on gravity high (red=high/ heavy, blue=low/light)

Thin coloured lines called gravity worms define Thin coloured lines, called gravity worms, define edge of heavy rocks

Gold mainly on gravity high or near breaks/edges f it hi hof gravity high

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Yilgarn Orogenenic Gold Model (J Hronsky 2012)(J.Hronsky, 2012)

Original Basin with:

Gravity profile

Original Basin with:•Ultramafics (purple)•Mafic Rocks (green)•Felsic/Intermediate Rocks(li ht bl )(light blue)•Sediments/Conglomerates(yellow)•Gravity Profile with residualhi h t b i ihigh at basin margin

•Transform Fault (blue)

Deformed Basin with:

Basement

Gravity profileDeformed Basin with:•Inverted Basin•D2/D3 gold structure•Inverted Transform Fault • Moz Gold DepositsMoz Gold Deposits

Basement

10VERTICAL SECTION PLAN VIEWGneisses

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High Priority Gold Camps

Fi e High Priorit Gold Camps Five High Priority Gold Camps

Hosts multiple gold prospects

Each camp ~15 to 20km long (~80km2) Each camp ~15 to 20km long (~80km2)

Exploration at Tobin Hill commenced

Gold Camps identified using:

New gravity and aeromag imagesg y g g

Presence of gravity high

Presence of ultramafic/mafic rocks in centre of basin

Size of sub basin (based on geology)

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Regional Work Program (initial)

5 Priority Camps identified:5 o ty Ca ps de t ed

– 17 targets identified

Phase 1 – started Oct 2012:

– Review historic sampling/drilling across 5 Camps

– Start with Tobin Hill Camp:

Geophysical Target survey (SAM)

G h t ti Geochem testing

~20,000m drilling

Phase 2 Starting Jan 2013: Phase 2 - Starting Jan 2013:

– Targeting other Camps:

SAM / Geochem testing

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SAM / Geochem testing

~100,000m of Drilling

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Large Pipeline of Prospects

Advanced Projects

Aim to increase confidence / expand Resources/ expand Resources

Growing cash flow from 2014/15

New Targets

Aim to move prospects up the pyramidup the pyramid

Exploration of ‘Gold Camps’ prioritised in

2013/142013/14

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Ad d P j tAdvanced Projects

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Central Bore Area

High Grade Gold AreaHigh-Grade Gold Area

Discovered by Gold Road in 2009

Numerous high-grade deposits in area Numerous high-grade deposits in area

Central Bore Project 2012 HighlightsCentral Bore Project 2012 Highlights

SAM survey confirmed structures and identified 3 new anomalies

Central Bore JORC Resource increased 152,323 oz Au @ 9.1 g/t

Includes Imperial Shoot: 101,738 oz Au @ 19.2Includes Imperial Shoot: 101,738 oz Au @ 19.2 g/t – open at depth

Measured /Indicated categories account for 94% of the total resource94% of the total resource

Scoping study confirmed economic viability 15

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Central Bore Long Section

Central Bore Project Resource: 519,000 t @ 9.1 g/t = 152,323 oz Au Includes Imperial Shoot Resource: 164,799 t @ 19.2 g/t = 101,738 oz Au

Mine depth ~250m

Not in current

mine plan

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Central Bore – Deeper Drilling

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Imperial Shoot Cross Section

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Central Bore “Camp”

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Self-fundedSelf funded Explorationp

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Self Funded Explorer

IBuild pipeline of projects

pSystematic ‘smart’

exploration Expand gold production

IncreaseResources/Reserves

Unlock full potential ofUnlock full potential of

gFocus on breakthrough

gold discoveriesDrilling de-linked from potential of

Yamarna potential of

Yamarna

S lf f d dS lf f d dOwn production plant

Drilling de linked from market volatility

Self-funded Exploration

by 2014/2015

Self-funded Exploration

by 2014/2015 g

Attila open pits / Central Bore underground

Production to generate cashProduction to generate cash

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generate cash flow

generate cash flow

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Economic Viability Confirmed

Scoping Study, September 2012Scoping Study, September 2012

Mining Attila (2 open pits)Central Bore (u/g)

Processing rate 400 ktpa*#

Gold production 47,500 oz pa (average)

Pre-production capital $62.8 M

Discounted net cash return (8% rate) $47 M ($39M post tax)

Cash-flow before capital (pre-tax) $132.7. M

Cash-flow after capital (pre-tax) $67.7 M

Operating costs (average over life) $806 / oz

Total costs incl. capital (average over life) $1,248 / oz

IRR 42% (37% post tax)

ROI 89% (77% post tax)

Initial mine life 4 years

*Plant upgradable to 800ktpa

22Scoping Study completed by Optiro Pty Ltd

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Potential Uplift From Production

1M o gold~1M oz goldNew discoveries from re-investing

profit into l ti

20k oz goldProduction

exploration

20k oz gold

(Profit)

20k oz goldCapex

required to build small

plant

15k oz goldProduction

(Opex)plant ( p )

Using gold equivalent to demonstrate potential uplift from initial plant

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Using gold equivalent to demonstrate potential uplift from initial plant investment - delivers free value to unlock potential of Yamarna

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P t I tPut Into PerspectivePerspective

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Put Into Perspective

5 000km2 under explored gold region5,000km2 under explored gold region

Only 1% of area explored

13 new gold discoveries

100 prospects identified100 prospects identified

5 high priority gold camps identified

1.2 million ounces of gold so far

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Put Into Perspective

5 000km2 underexplored gold region5,000km2 underexplored gold region

Only 1% of area explored

13 new gold discoveries

100 prospects identified100 prospects identified

5 high priority gold camps identified

1.2 million ounces of gold so far

Strong comparison to Kalgoorlie Belt … exploration commenced in 1880s

Yamarna Belt systematic exploration

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only commenced in 2009

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Summary

Outstanding new high-grade gold discoveries

N ld i >100 ld t t id tifi dNew gold region: >100 gold targets identified

Conceptual targeting identifies 5 new Gold p g gCamp targets

Continued exploration and studies in 2013Continued exploration and studies in 2013

Aim to be growth-driven, self-funded explorer f 2014/2015from 2014/2015

www.goldroad.com.aug

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The information in this presentation which relates to Exploration Results or Mineral Resources is based on information compiled byZiggy Lubieniecki, an Executive Director of Gold Road Resources Limited, who is a Member of the Australasian Institute of Miningand Metallurgy. Mr Lubieniecki has sufficient experience which is relevant to the style of mineralisation and type of deposit underconsideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of theconsideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the“Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lubieniecki consents to theinclusion in the presentation of the matters based on this information in the form and context in which it appears.

The information in this report which relates to the Gold Mineral Resource estimates are based on geostatistical modeling byRavensgate using sample information and geological interpretation supplied by Gold Road. The Mineral Resource estimates wereundertaken by Don Maclean, a Principal Consultant. Mr Maclean is the competent person responsible for the Resource and aMember of the Australasian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type ofdeposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Maclean consentsto the inclusion in this report of the matters based on this information in the form and context in which it appears.

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Appendix 1: Resource Table

Project NameProject Name(cut-off)

‘000t Grade g/t Au Ounces Au

Central Bore Trend (1.0g/t) 519 9.13 153,000

(2012),

Measured 22 22.35 16,000Indicated 444 8.90 128,000Inferred 53 5.25 9,000

Attila Trend (0.5g/t) (2012)(encompasses Attila South; 25 527 1 29 1 060 000

Attila North; Alaric; Khan and Khan North projects)

25,527 1.29 1,060,000

Measured 8,382 1.44 389,000Indicated 9,360 1.24 373,000Inferred 7,785 1.19 298,000TOTAL 26,046 1.45 1,213,000

29August 2012 JORC compliant Gold Resource for the Yamarna Gold Belt

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