AUSGOLD LIMITED — AGM Information 2012

Nov 26, 2012

==> picture [158 x 87] intentionally omitted <==

Ausgold Limited

Annual General Meeting 27 November 2012

Competent Person’s Statement and Disclaimer

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

Competent Person’s Statement

The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Andrew Tunks, who is a Member of the Australian Institute of Geoscientists. Dr Tunks is the CEO and full-time employee of Ausgold Limited, and has sufficient experience relevant to the style of mineralisation under consideration 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”. Dr Tunks consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statements

This presentation has been prepared by Ausgold Limited and contains background information about Ausgold Limited current at the date of this presentation. The presentation is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation.

This presentation is for information purposes only. Neither this presentation nor the information in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares. This presentation does not constitute investment advice and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular persons. Recipients should seek professional advice when deciding if an investment is appropriate.

All securities transactions involve risk, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Ausgold Limited and its officers, employees, agents and advisers do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statement, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward-looking statements. Forward-looking statements are only predictions and are subject to risk, uncertainties and assumptions that are outside the control of Ausgold Limited. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements. Subject to any continuing obligations under the applicable law and ASX Listing Rules, Ausgold Limited does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation of any changes in events, conditions or circumstances on which any such forward-looking statement is based.

2

==> picture [139 x 81] intentionally omitted <==

Aus old at Katannin g g

==> picture [765 x 9] intentionally omitted <==

==> picture [435 x 326] intentionally omitted <==

Flagship Project

• Katanning Gold Project, South-West, Western Australia

• Individual control of an entire greenstone belt;

• 20km corridor of gold mineralisation at Katanning and

• Multiple high grade intercepts to follow up

• Substantial Infrastructure already in place

3

Achievements of last 12 months

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

Exploration

• Drilling finished in March 2012

  • 48,857m RC

  • 2,143m Diamond

  • 39,930m Aircore

• Resources at Jinkas, Dingo, Lone Tree, Fraser, Olympia and White Dam

• Maiden Resource on track for December 2012 release

• Geological Interpretation Completed

• Aeromagnetic Survey of KGP Completed

• Rediscovered and reprocessed 2007 EM Data

Corporate

• New CEO appointed March 2012

• Replaced entire senior management and technical team

• Raised $7m in conjunction with GMP Securities

==> picture [265 x 451] intentionally omitted <==

4

==> picture [139 x 81] intentionally omitted <==

Ca ital Structure p

==> picture [765 x 9] intentionally omitted <==

ISSUED CAPITAL (as at 27 Nov 2012)	ISSUED CAPITAL (as at 27 Nov 2012)
Ordinary Shares on Issue	153.9M
Listed Options1	71.5M
Unlisted Options2	8.4M
Un-diluted Market Capitalization	A$28M
Cash at Bank3(30 Sep 2012)	A$5M
12 Month Trading Range	$0.13 - $1.20
Top 20 Shareholders	82%
Top 20 Option holders	78%

AUC GRAPH – 6 MONTHS

==> picture [355 x 244] intentionally omitted <==

MAJOR SHAREHOLDERS	MAJOR SHAREHOLDERS
Praetorian Resources	8.9%
CQS	7.9%
J P Morgan	6.8%
Capital Group	3.5%
Fidelity	2.0%
Directors	21.1%

Note:

1. A$0.20 Listed options expiring 31 March 2013

2. Staff Options 6.0M priced A$1.38-$1.72 expiring between Dec 2014 and Feb 2016

3. Includes $2.5M listed tradable securities in Praetorian Resources Limited

5

Board & Management

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

Extensive experience in gold exploration, mine development and financing Strong ownership position with Board and Management holding ~ 20% of ordinary shares

MANAGEMENT
Dr Andrew Tunks	Chief Executive Officer	25 years in International exploration in Au, Base Metals and Uranium
Mark Di Silvio	Chief Financial Officer	20 years finance experience in gold and petroleum exploration and production
		30 years in International exploration in Au and Base Metals
GaryBrabham	Exploration Manager	Competent Person Status under JORC Code
DIRECTORS
Robert Pett	Chairman	25 years experience in exploration, mining and project development of over a dozen mining projectsglobally
Simon Trevisan	Non-Exec Director	15 years experience in resource company management, corporate finance and law
Richard Lockwood	Non-Exec Director	30 years experience in mining, funds management and gold mining investment
Christopher Kelsall	Non-Exec Director	15 years global investment banking, natural resource management and finance

6

Katannin Greenstone Belt g

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

• Vast majority of gold in the Yilgarn hosted in Greenstone Belts

• Key indicators for Yilgarn gold deposits

• °

• • Crustal-scale penetrating structures (340

• Complex intrusive history

• Multiple Au events recognised

• Rheology contrasts

• Chemical traps

• Katanning Belt similar to Southern Cross Belt • Marvel Loch

• Yilgarn Star

• Nevoria

• Bounty

==> picture [437 x 393] intentionally omitted <==

7

Drillin Hi hli hts g g g

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

==> picture [475 x 175] intentionally omitted <==

• 3D view of Jinkas Lode

• Dipping 30 towards ENE

• • Black collars AUC drilling

• • Red Collars previous explorers

Significant intercepts from recent drilling 20 m @ 15.6 g/t from 97 m 13 m @ 10.4 g/t from 86 m 12 m @ 10.1 g/t from 93 m 28 m @ 4.1 g/t from 97 m 10 m @ 10.7 g/t from 116 m 20 m @ 5.2 g/t from 93 m 23 m @ 4.3 g/t from 81 m 6 m @ 12.7 g/t from 102 m 10 m @ 7.6 g/t from 81 m 19 m @ 3.9 g/t from 89 m 15 m @ 4.5 g/t from 98 m 9 m @ 6.4 g/t from 118 m 10 m @ 5.6 g/t from 62 m 15 m @ 3.7 g/t from 75 m 14 m @ 3.8 g/t from 92 m 9 m @ 5.9 g/t from 133 m 5 m @ 9.9 g/t from 133 m

8

Katanning Gold Project (KGP)

==> picture [382 x 544] intentionally omitted <==

==> picture [139 x 81] intentionally omitted <==

• 20km of gold anomalism within a structural corridor (340°)

• Wide structural zone with stacked lodes

• Multiple gold targets in ductile shear zones on contacts of several granitic sills

• Advanced areas

  • Jinkas Corridor – identified over a strike length of 4km with multiple high grade zones

  • Dingo Corridor – 1.2km mineralisation and open

  • Lukin (South of Dingo) confirmed by aircore drilling currently untested

9

Katanning Gold Project - Geophysical Targeting

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

Airborne magnetics – acquired, processed & now being interpreted for targets

• 2012 Magnetic Data Acquired

• Initial study of high grade ore zones shows that the known mineralisation has a weak mag signature

• 2007 TEM Data Reprocessed

• Interpretation and target generation ongoing.

==> picture [109 x 59] intentionally omitted <==

----- Start of picture text -----

Jinkas
----- End of picture text -----

==> picture [384 x 43] intentionally omitted <==

----- Start of picture text -----

10
New Data 2003 Data
----- End of picture text -----

Regional Data

EM (Electromagnetics)

==> picture [765 x 9] intentionally omitted <==

• Some of earliest TEM data

• Data not optimally processed

• No detailed interpretation

• Data now been reprocessed with latest technology

• Being integrated with the Aeromagnetics and drilling database

11

EM and Mag - Dingo New Targets

==> picture [139 x 81] intentionally omitted <==

==> picture [768 x 395] intentionally omitted <==

2007 EM Data

12

EM and Mag - Jinkas - New Targets

==> picture [139 x 81] intentionally omitted <==

==> picture [791 x 406] intentionally omitted <==

13

2007 EM Data

Lukin Geochemistr Follow u y p

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

==> picture [611 x 380] intentionally omitted <==

14

Maiden Resource Estimate

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

• Migrated data to in house

• Data cleansing took considerable time

Jackson

Lone Tree

• Maiden Mineral Resource almost complete

Dingo

Jinkas

• Work supervised by Gary Brabham – Ausgold Exploration Manager

• Independent resource estimate being complied by MPR Geological

15

Ex loration Plan p

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

• Aircore drilling

• Lukin

• Datatine

• RC Drilling

• Lone Tree

• Dingo

• Initial testing of geophysical targets

• Timing

• Commencing in January 2013

==> picture [307 x 387] intentionally omitted <==

16

Other Projects

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

• Yamarna - Windsor Prospect

• Significant Cu-Ni intersections

• More drilling required

• Cracow

• Prospective Camboon Volcanics

• Au and Cu soil anomalies

• Directly on strike from Cracow Au mine (1Moz)

• Doolgunna

• EL adjacent to Sandfire Resources Degrussa Mine

Prospective for polymetallic VMS and Orogenic gold mineralisation Adjacent to DeGrussa VMS deposit

Significant soil and geophysical anomalies Adjacent to Cracow Mine

==> picture [401 x 288] intentionally omitted <==

Significant copper-nickel discovery hosted within underexplored Yamarna Greenstone Belt

17

Summary

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

• Greenstone belt 200km long with a significant ground position tenure and potential for gold discoveries, almost all 100% owned

• Katanning Greenstone Belt has multi-million ounce potential

• Gold discovery already at Katanning within a 20 km gold mineralised corridor

• Maiden Resource imminent

• Strong news flow

• Experienced operational team with extensive gold exploration and development experience

==> picture [188 x 396] intentionally omitted <==

18

Contact Us

==> picture [139 x 81] intentionally omitted <==

==> picture [765 x 9] intentionally omitted <==

Ausgold Limited 80 Churchill Avenue Subiaco WA 6008 Australia

Dr Andrew Tunks CEO T: +61 8 9466 9555 F: +61 8 9466 9566 E: info@ausgoldlimited.com

For more information please visit www.ausgoldlimited.com

19