WEST AFRICAN GOLD EXPLORATIONAfrica Down Under – August 2012

“Fast Running Exploration – A New West African Explorer”

Bernard Aylward

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Competent Person Statement & DisclaimerThe information contained in this presentation has been prepared by Taruga Gold Limited (Company).

The information in this Presentation that relates to exploration results and geological information is compiled by Mr Bernard Aylward. Mr Aylward is a full time employee of the Company and a member of the Australian Institute of Mining and Metallurgy. Mr Aylward has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities 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” (JORC Code). Mr Aylward consents to the inclusion in this Presentation of the information based on his work in the form and context in which it appears.

To the maximum extent permitted by law, the Company and their related bodies corporate, affiliates and each of their respective directors, officers, partners, employees, advisers and agents and any other person involved in the preparation of the presentation disclaim all liability and responsibility (including without limitation any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use or reliance on anything contained in, or omitted from, the presentation.

No representation or warranty, express or implied, is given as to the fairness, accuracy, completeness, likelihood of achievement or reasonableness of any assumptions, forecasts, prospective statements or returns contained in the presentation. Such assumptions, forecasts, prospective statements or returns are by their nature subject to significant uncertainties and contingencies, have been based on current expectations about future events and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from the expectations described. The Company has no responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this presentation document, whichmay affect any matter referred to in the presentation.

You must not rely on the presentation provided but make your own independent assessment of the presentation and seek and rely upon your own independent taxation, legal, financial or other professional advice in relation to the presentation and any action taken on the basis of the presentation. All information in this presentation is current as at 1 February 2012.

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Why We Focus on West Africa

Highly experienced service providers

Pro-mining region with strong legal system

Exploration focus in previously untested regions

Leading discovery rate & development of new mines in last 15 years

One of the world’s greatest gold regions

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Niger

Ghana

Coted’Ivoire

Taruga Gold - West African Gold Exploration

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Niger

Ghana

Burkina Faso

Cote d’Ivoire

Kossa ProjectKossa Project

Tortiya ProjectTortiya Project

Mangkono ProjectMangkono Project

Ducie ProjectDucie Project

Niger

Ghana

Coted’Ivoire

All Projects located within Birimian Greenstone Belts

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Listed: February 7 2012 ASX Code: TAR

IPO Raise: A$6.12M Shares on Issue: 85,616,000

Market Cap: A$9.8M Cash: A$4.5M

Capital Structure

Comparable Stock Market Capitalisation Enterprise Value

Taruga Gold (ASX:TAR) $9.8million $4.3million

Orbis Gold(ASX: OBS) $63 million $58 million

Golden Rim (ASX:GMR) $56 million $52 million

Middle Island (ASX:MDI) $22.5million $9.5million

Canyon Resources (ASX:CAY) $18 million $14 million

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Bernard Aylward BSc (Hons – Geol)Board and ManagementExecutive Chairman and Managing Director

20 years experience as Manager & Exploration Geologist across West Africa, Australia and Europe.

Ed Edwards BCom, ACA, FAICDNon-Executive Director

Accountant with over 30 years’ experience in the resources sector, Director of Athena Resources and a former director of Aztec, Fox, Matlock Mining & Scotgold

Peter Newcomb FCA (ICAEW)CFO and Company Secretary

Chartered Accountant with over 30 years’ experience in the resources & other industries in a number of countries, Company Secretary of Athena Resources Limited.

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NigerPro-mining country with world class Uranium mining industry

Recent democratic elections - 2011

Under-explored for gold mineralisation

SEMAFO (TSX:SMF), capitalised at C$2.43b, developed & operated Samira Hill gold mine since 2004.

Large Canadian explorers are aggressive in Niger

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Kossa Project – Niger970km2 granted licences developing gold district

Very encouraging grade and width with 1km of strike to date

Broad, high-tenor Geochemical anomalies untested by drilling

Adjacent to IAMGold’s 5Moz Essakane Gold Mine

Niger

Ghana

Coted’Ivoire

Kossa ProjectKossa Project

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Same geological sequence and structural setting as Essakane

Kossa licence joins the Essakane regional project with high grade results

Previous exploration activity by Orezone has demonstrated high grade gold intersections and potential for mineralisation

Kossa Project – Niger

Niger

Ghana

Coted’Ivoire

Kossa ProjectKossa Project

Surface Sample (Au ppb)Birimian Greenstone Granite

Essakane Gold Mine5Moz

Essakane Gold Mine5Moz

Kossa Project970km2 Granted

Licence

Kossa Project970km2 Granted

Licence

20km

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Taruga ExplorationCommenced major exploration program

following listing in February 2012

Completed:

72 RC drill holes for 6,400m

366 Aircore drill holes for 13,634m

3,300 Auger sample locations

Extensive exploration program planned to commence following wet season

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Kossa – Borobon TrendOur first area for RC drilling:

10km strike length gold mineralised trend

•Artisanal workings and high-grade surface geochemistry

• Wide-spaced reconnaissance drilling highlighting gold mineralisation

Multiple gold mineralised targets

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Borobon ProspectAn excellent start with the drilling by Orezone returning gold mineralisation with intersections including 14m at 3.79g/t gold in drill hole KSC033 and 13m at 2.43g/t gold in drill hole KSC032

Taruga’s first results highlight the continuity, parallel lodes and southern extensions with results including:

12m at 3.40g/t gold from 8m in drill hole TKRC005

4m at 2.19g/t gold from 48m &

4m at 4.68g/t gold from 64m in drill hole TKRC002

16m at 1.52/t gold from 12m &

8m at 1.30g/t gold from 44m in drill hole TKRC010

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Borobon Prospect - Section

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Kossa ProspectLocated at the northern end of the Kossa-Borobon trend and contains multiple trends of artisanal workings with limited historic drill testing

Taruga recently completed first-pass drill testing with excellent results including:

4m at 35.52g/t gold from 44m in drill hole TKRC028

8m at 1.22g/t gold from 28m in drill hole TKRC031

These new results, in conjunction with previous high-grade gold intersections including 1m at 278.8g/t gold and1m at 10.0g/t gold define a trend extending for more than 1.7km strike length.

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Kossa Prospect - Section

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Fatatako Prospect – RC drillingFatatako Prospect is located 10km to the south of the Kossa-Borobon trend.

Taruga completed intital RC drilling, results pending.

At the Fatatako Prospect, gold mineralisation includes:

8m at 3.06g/t gold from 17m in drill hole FKC0016

2m at 7.23g/t gold from 6m in drill hole FKC0036

10m at 1.52g/t gold from 64m in drill hole FKC0036

7m at 2.74g/t gold from 11m in drill hole FKC0055

5m at 8.43g/t gold from 76m in drill hole FKC0058

Borobon Prospect Borobon Prospect

Fatatako Prospect Fatatako Prospect

100 to 200200 to 5000

50 to 100

Surface Sample (Au ppb)

Birimian GreenstoneTarkwaian Sediments

10km

Black Hills Prospect Black Hills Prospect

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Follow-up RC drilling program at Borobon and Kossa Prospects

Detailed auger geochemical sampling of sand covered areas continuing

Aircore drilling infill and definition following receipt of results

Detailed aeromagnetic survey of Project area to advance understanding of geology

Kossa Project – Exploration Focus

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Taruga established regional base in local community and have become a major employer

Community FocusDistribution of seed to villagers prior to rainy season - 20t to the 8 villages within our project area

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Exciting West African Projects

Extensive Gold Mineralisation at the Kossa Project – Niger

Active Exploration Program Returning High-Grade Gold Intersections

Well Funded and Supported to Continue Extensive Exploration

New Discoveries in Proven Gold Mineralised Belts

Taruga Gold Limited - Summary

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