Investment structure

• The Company is seeking a partner for mining and further processing of the gold ore deposit in Kazakhstan (the “Project”)

• The Company can entertain different partnership options, including sale up to 100 % shares in the Project Investment opportunity

• The gold ore deposit in Kazakhstan with resources by C1+C2 categories — 1,538.2 kg of gold (5.45 g/t) and 700 kg of silver (2.18 g/t)

• The forecast volume of reserves is 2.9 mln tons of ore and 8.5 tons of gold

• Developed infrastructure: Kentobe railway station is 60 km and Karagailinsky mining and processing complex is 130 km to the south-east of the deposit

• Proximity to China and Asian markets, the world’s largest gold consumers

• An experienced management team with a extensive background in mining sector of Kazakhstan

• The Company is adequately funded and has technical resourses for successful implementation and development of the Project Company overview

• Tau-Ken Samruk is the national operator of mining assets in Kazakhstan with exclusive first-refusal rights to any new exploration and production licenses being issued for the country’s mineral assets

• It was founded by the Government of Kazakhstan in 2009 to ensure the effective use of the country’s natural resources and promote its minerals assets to local and foreign partners that have expertise in exploration, development, production, processing and selling of solid minerals

• The Company is wholly owned subsidiary of SWF Samruk-Kazyna, the management holding of state assets in Kazakhstan General overview

• Location: Karkaraly district of Karagandy province

• Landscape: hummocky topography with low-mountain terrain with relative elevations of up to 50 m

• Climate: sharply continental climate with cold winter and moderately hot, dry summer

• Subsoil use contract on gold exploration was signed with the Competent Authority Deposit description

• Resources by C1+C2 categories —1,538.2 kg of gold (5.45 g/t) and 700 kg of silver (2.18 g/t)

• Forecast resources are 2.9 M tons of ore with 8.5 tons of gold (2.9 g/t)

• Two zones of mineralization identified in the ore field: North (0.15 sq. km) and South (0.6 sq. km)

• According to the results of technological study was revealed a high-grade stone with grade of silicon oxide—92% and aluminum oxide—4% that is adequate for copper smelting

• Ore is almost free of such detrimental impurities such as arsenic and antimony. Under the scheme of direct cyanide processing of the ore, gold is extracted by 96.2% and silver by 88.8% Infrastructure

• Karagailinsky mining and processing complex is 130 km to the south-east of the deposit

• Karagaily railway station is located at distance of 60 km and connected by graded road with the deposit

• Kentube mining complex is 60 km of the deposit Geology

• North zone of the deposit has 5 ore bodies and South zone — 1 ore body

• Main parameters of ore bodies: strike extent — 60–280 m, dip extent—up to 250– 300 m; average thickness—1.6–6.4 m; average grade of gold—3.7–6.7 g/t, of silver—1.3–5.0 g/t Exploration • There are geological maps of the deposit with the scale of 1:50,000 and 1:5,000

• Quality of geological exploration works are estimated as satisfactory. Average core recovery was 81.2% for prospecting drills in 1987–1991 and 83.3% for ore bodies

• Deep horizons of North area were evaluated using profiles of prospecting holes drilled every 80 m with the distances between intersections down dip of 20–100 m. Ore zones 1–3, 5–14 in South area were appraised using holes drilled in profiles every 160 m, distances between intersections down deep are 20 to 100 m

• In 2015 the following geological exploration works were performed: – Core drilling – 3,077 l.m – Geophysical exploration of wells – 2,770 l.m – Geological documentation of drillholes core – 3,077 l.m – Core sampling – Laboratory-analytical works

• In 2016 it is planned to perform evaluation works at the deposit for further exploration of the deposit and reserves approval