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Apollo Gold Mining Limited March 2003 An Emerging Gold Producer 326 sq. km of land holding in the highly prospective Laverton Tectonic Zone Laverton Processing Plant – capacity 1 Mtpa Resource 10.6 Mt @ 1.9 g/t = 647,000 ounces In Pit Resource 1.6 Mt @ 2.3 g/t = 117,000 oz The Assets

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Apollo Gold Mining Limited

March 2003

An Emerging Gold Producer


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326 sq. km of land holding in the highly prospective Laverton Tectonic Zone

Laverton Processing Plant – capacity 1 Mtpa

Resource 10.6 Mt @ 1.9 g/t = 647,000 ounces

In Pit Resource 1.6 Mt @ 2.3 g/t = 117,000 oz

The Assets


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Cash flow is a priority Laverton Tectonic Zone

Sponsor Laverton Region Gold Alliance

Leverage Ownership of Mill through JVs and Toll Processing Arrangements

Growth by exploration success and increasing Mill throughput

The Strategy


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Single Commodity: Laverton Tectonic ZoneGold

Single Region: Laverton

Single Focus: Generate Cash

The Apollo Mission


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Commence development Laverton Tectonic Zonedrilling – 10 March 2003

Complete Project Verification Study - mid 2003

Establish in-pit resources for 5 years of Gold Production @ 40,000-45,000 oz pa – mid 2003

Pour Gold within 12 months

Commence deep drilling programme – mid 2004

Short Term Goals


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> 23 million oz discovered in the region e.g. Granny Smith/Wallaby/Sunrise

Under cover – limited application of geophysics; limited exploration since 1997

Active exploration programme commenced for shallow targets and resource extensions

JV negotiations have commenced with other gold companies in the region looking for major deposits

Deep drilling to commence mid-2004

LTZ is Elephant Country !


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Existing Pits 117,000 oz 2.5 yrs Smith/Wallaby/Sunrise

+ Drilling outside Optimised Pits

Immediate Targets

Sunshine/Craiggiemore 20,000 oz 0.4 yrs

Grouse/Vat/Scotland Yet 40,000 oz 0.8 yrs

Admiral Hill 60,000 oz 1.3 yrs

Burtville – Blue Moon 60,000 oz 1.3 yrs

Current Total Resource 10.56 [email protected] g/t for 647,000 ozs

Potential Reserve – 300-400,000 oz


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ADMIRAL HILL Smith/Wallaby/SunriseTarget Zone

Further Drilling Required adjacent to Syenite Intrusive

  • 6 km strike

  • 8 km N of plant

    • Existing Resource 0.8 Mt @ 1.9 g/t

Potential Resource Extension

Poorly Tested Zone


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BLUE MOON PROSPECT Smith/Wallaby/Sunrise

BURTVILLE PROSPECT


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BURTVILLE BLUE MOON PROJECT Smith/Wallaby/SunriseSection 4500N


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Tonnes treated 1.6 million Smith/Wallaby/Sunrise

Grade - g/t 2.3

Contained Ounces 117,000

Recovery 92%

Recovered Ounces 108,000

Throughput tonnes p.a 600,000

Gold Produced oz p.a 40-45,000

Potential Mining Plan: First 2½ Years


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Gold Price A$575 Smith/Wallaby/Sunrise

Revenue A$60-65 M

Operating Costs A$28/t* A$40-45 M

Environment & Rehab (net) A$1 M

Development Costs A$4 -5M

Net Surplus A$9 -12 M

EBITDA p.a A$3 - 5 M

* Independent Geologist estimated costs at A$28./t

Potential Gross Revenues: First 2½ Years


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Project Verification Study completed mid-2003 Smith/Wallaby/Sunrise

Gold Production to Start within 1 Year

Self-funded Exploration after 1 Year

Toll Treatment Capability

Significant Exploration Upside

The Future


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Capitalisation A$15 per ounce (US$9) Smith/Wallaby/Sunrise

40,000 ounces p.a. within 12 months

No debt. Unhedged

Prospectivity of LTZ (Sunrise, Wallaby …)

Potential 80,000 ounces p.a. within 2 years

Summary


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PAYDIRT’S GOLD CONFERENCE Smith/Wallaby/Sunrise

Apollo Gold Mining Limited

March 2003

An Emerging Gold Producer

By Dudley J Kingsnorth

Chief Executive OfficerEmail:[email protected]


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