Castlemaine Goldfields Limited

RIU Melbourne

Resources Round-Up

Gold in 2011

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Castlemaine Goldfields Ltd

The presentation (in this projected form and as verbally presented) (“Presentation”) is provided on the basis that none of the Company nor its respective officers,

shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to

the accuracy, reliability, relevance or completeness of the material contained in the Presentation and nothing contained in the Presentation is, or may be relied upon

as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law.

The Presentation contains prospective financial material which is predictive in nature and may be affected by inaccurate assumptions or by known or unknown risks

and uncertainties and may differ materially from results ultimately achieved.

The Presentation contains ”forward-looking statements”. All statements other than those of historical facts included in the Presentation are forward-looking

statements. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and

believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to

differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other

metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as

political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions

to any “forward-looking statement”.

All persons should consider seeking appropriate professional advice in reviewing the Presentation and the Company.

The information in this presentation that relates to Exploration Results, Mineral Resources and Exploration Potential is based on information compiled by Mr Wessley

Edgar. Mr Edgar is an employee of Castlemaine Goldfields Ltd, is a member of the Australian Institute of Mining and Metallurgy and The Society of Economic

Geologists and is a Competent Person as defined in the 2004 edition of the „Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore

Reserves (the JORC Code)‟. The Exploration Potential described in this Presentation is conceptual in nature, and there is insufficient information to establish whether

further exploration will result in the determination of a Mineral Resource. Mr Edgar consents to the publication of this information in the form and content in which it

appears.

The project planning and schedule and any resources referred to in this presentation are not based on estimations of Ore Reserves or Mineral Resources made in

accordance with the JORC Code for the Ballarat East goldfield and caution should be exercised in any external technical or economic evaluation. Considering the

style of mineralisation, and particularly the uncertainty of gold grade continuity, Mineral Resource or Ore Reserve estimates will only be possible once mining has

accessed the Lower Llanberris and Britannia gold mineralisation to gain further geological and grade information. CGT emphasises that no Ore Reserve currently

exists and cannot be estimated until drilling results can be correlated with bulk tonnage mining outcomes.

Disclaimer & Disclosure

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Take home message:

Gold production in September

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Mining has begun

From Explorer to Producer

THIS WEEK

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Business Plan

Define sufficient resources to justify recommencement

Complete feasibility study and award mining contract

Extend existing development and commence gold production

May 2010 Dec 2010 March 2011 September 2011

Purchased the

Ballarat Gold Project

15,000 metres of drilling

Targeting:-

• 50,000 ounces pa

• 7.5 to 8.5 g/t gold

• $710 to $750/oz

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• Fully funded. No debt. No hedging. Robust margins (operating cost ~A$730/oz).

• A sensible 6 to 9 month ramp-up period – targeting 50,000 oz pa in 2012

• 15 months (time) and 33,000 metres of underground drilling (data)

• Respect for the structural controls on mineralisation, not just assay based

• Realistic extraction rate and ounces pa matched to the mineralisation styles

“Let the geology do the talking”

• Ballarat Mine re-start de-risked

• Extensive portfolio of other prospective projects

• Balanced mix of production, development and exploration

Why do we think we will succeed?F

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Today’s Presentation

Five assets in one

Our Vision

What we’ve been doing

• Ballarat Asset

• Ballarat other targets

• Regional Assets

Summary

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“This is why we want to be a gold miner”

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Corporate Snapshot

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ASX Code: CGT

• Fully paid shares on issue 152.8M

– Options unlisted 315,000

• Share price range (12 months) 35c - 68c (equivalent post share consolidation)

• Market Cap (@ 50c/share) $76M

• Cash on hand $28.1M (as at June 30 2011)

• No debt

Major shareholders (as at 9 September)

ICF 17.1%Baker Steel Capital Managers 16.2%JP Morgan Chase & Co. 9.3%

Top 20 shareholders 67.1%

Current market

volatility makes

any sensible

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Directors

Mr Gary Scanlan Mr Matthew Gill Mr Drew Henry Mr Peter McCarthy Mr Peter Lester

(Non-Exec Chairman) (MD & CEO) (Non-Exec Director) (Non-Exec Director) (Non-Exec Director)Minerals Financier & Accountant Mining Engineer B.Eng (Hons) Geologist B.Sc. (Geol) Mining Engineer BSc, MSc Mining engineer B.Eng (Mining) (Hons)

FAusIMM, ACA M.Eng.Sc, MAusIMM, GAICD FAusIMM FAusIMM, CPEng, FAICD MAusIMM, MAICD

Non-Ex Director of Red 5 Limited Non-Ex Chairman of Unity Mining Ltd Non-Ex Director of Toro Energy

Chairman of AMC Consultants Non-ex Director of Nord Gold

Experienced Management team in place

• Toni Griffith - Chief Financial Officer Accountant B.Com, FCPA

• Sue-Ann Higgins – Company Secretary Lawyer B.Law, Grad. Dip. Applied Finance, CSA, GAICD

• Lance Faulkner – Mine General Manager Mining Engineer B.Eng (Mining) (Hons), MAusIMM

• Mark Davies – Processing Manager Metallurgist B.Sc, MAusIMM

• Tim Hewitt – Mine Manager Mining Engineer B.Eng (Mining) (Hons), MISEE MBA (Fin & Acc)

• Wessley Edgar – Exploration Manager Geologist B.Sc (Hons), M.Sc (Mineral Economics), MSEG, MAusIMM

Castlemaine Goldfields Ltd – It’s peopleF

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• Ballarat: Mine & commission• Mine Exploration: +$3m spend• Regional Exploration: +$4m at

Castlemaine / Chewton, Berringa and Tarnagulla

GOLD PRODUCTION (2011)• Produce: Steady State targeting

50,000 oz pa• Ballarat Targets: Victoria,

Sulieman Line• Ballarat South • Regional Targets: Chewton,

Berringa and Tarnagulla

GROW – 2012 to 2013

• Produce: Targeting 75 to 100,000 oz pa• Multiple Ballarat sources• Multiple regional ore sources

EXPAND - BEYOND

Clear path to value creation

World class infrastructure (>$400m spent) Add new production sources at Ballarat Targeted regional exploration program

Our Vision – Three HorizonsF

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Assets What better address can you have in Victoria?

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AssetHistoric

production Strategy Next steps

1 Ballarat 12Mozs Targeted production of 50koz p.a.

Recommence production Q3, 2011

5 projects with clear strategies for value creation

$400m plant and development in place at Ballarat

Near mine targeted exploration program

Regional exploration program

Increased production profile from regional targets:-

AssetHistoric

production Strategy Next steps

2 Castlemaine 5.6Mozs Feasibility study Confirmatory drilling

3 Berringa 1.0Mozs Advanced exploration drilling

Targeted drilling

4 Tarnagulla 0.7Mozs Advanced exploration drilling

Regional and targeted and drilling

5 Sebastian 0.2Mozs Target identification drilling

Regional drilling

1

2

3

4

5

80km

CGT‟s five gold projects shown in blue

with past production from these prominent goldfields.

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Assets In an Australian context

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0

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1000

1500

2000

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DISTRIBUTION OF GOLDFIELDS IN AUSTRALIA

100% ownership of two of Australia’s biggest historical goldfields

CGT

Combining the Ballarat, Castlemaine and the Berringa goldfields makes CGT owner of Australia’s fourth largesthistorical gold only producing tenements (excludes multi commodity fields like Olympic Dam and Telfer (Cu credits)).

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Indicative Timeline

2011 2012

J F M A M J J A S O N D J F M A

Feasibility study and award contract

Mobilise contractor and start mining

Develop to Lower Llanberris1st

ore

Develop to Britannia

Gold Plant refurbishment

Workforce recruitment

Gold Production1st

gold

Infill resource drilling

Ballarat exploration drilling

Castlemaine exploration

Tarnagulla & Berringa

Technical Review

Sulieman Line Victoria compartment

Chewton, Quartz Hill, Bicentennial

>1,200 metres done to date

100 people employed

18,000 metres drilled to date

7,800 metres drilled to date

From the Sovereign

compartment

Production Ramp-Up

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Ballarat Gold Project

More than A$400m has been spent by others developing first class facilities

• Purchased for <$10M.

• No Debt.

• Fully funded.

• Project Approvals.

• Construction.

• Commissioning.

All done.

De-risked.For

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Ballarat – Existing Mine Workings

Cross Section

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Current activities

Suliemanline of reef

Plan View

First Chanceline of reef

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First Chance Line of Mineralisation

Anticline

Modeled mineralisation. First

mining objective

Second mining objective

Future potential for MFZ lodes in the

Victoria compartment.

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Lower Llanberris Resource Target

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Resolved 5 mineralisation shapes

Tonnages in line with due diligence expectations

Highest grade intersections in Tiger South and Mako shapes

Drilling results used for mine planning and decision to access

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Ballarat – Now in Production

• Targeted production of 50,000 oz p.a. starting Q3, 2011

• Two initial Ore Sources

• Llanberris and Britannia mineralisation

• Volumes

• targeted 220,000tpa

• Assumptions

• 7.5g/t to 8.5g/t gold*

• Initial 2.5 year production period

• Anticipated cash operating cost $710 to $750/oz**

• Mine start

• March 2011 quarter

• First gold

• September 2011 quarter

• Exploration commitment

• Near mine – Britannia, Victoria, Sulieman Line

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•The key data supporting the basis for this range are the exploration results achieved from the company’s diamond drill program since May 2010, and the fact that the historical goldfield recovered grade was 8.9g/t.This grade range is conceptual in nature and there has been insufficient exploration to date to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

** cash operating cost includes costs associated with the mining and processing of material to produce gold bullion, including the site support functions associated with administration,safety, security and environment. The cost does not include head office costs, royalties, depreciation, amortisation or expenditure of a capital nature.

Gold Commission & Production - 2011

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Ballarat – Future Growth

• Near mine exploration targets

• Exploration Targets totalling approx. 500kt @ 8g/t Au for 200,000 oz Au identified*

• Focus on northern compartments (geological and mining conditions are favourable)

• Significant growth potential

• Sulieman Line Upholes. Open to the north. Intersections include:

• Sulieman Line – Basking Fault Zone –close proximity to existing development, intersections include:

• Victoria compartment

Sulieman Line

* The Exploration Targets described in this Presentation are conceptual in nature,

and there is insufficient information to establish whether further exploration will

result in the determination of a Mineral Resource.

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• 1.1m @ 119 g/t

• 0.5m @ 163 g/t

• 7.8m @ 13.8 g/t

• 5.5m @ 61 g/t

• 7.3m @ 7 g/t

• 12.7m @ 10 g/t

• 1.3m @ 54 g/t

• 8.0m @ 7.3 g/t

• 1.4m @ 26.6 g/t

• 1.2m @ 69 g/t

• 8.8m @ 9.2 g/t,

• 12.7m @ 7.1 g/t

• 1.3m @ 65 g/t

• 2.7m @ 118 g/t

29.1m @ 32.1g/t

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Ballarat – Future Growth

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Basking Fault lode – Sulieman Line - northern wall

Announced today

• Two new ore sources have been added to the original mine schedule, access

development has commenced, with one access now yielding ore.

•The Basking Fault lode in Britannia, on the Sulieman Line of mineralisation,

marks the first mining from this prospective zone in the modern era.

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Regional Assets and Exploration

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Wattle Gully Mine (1934 – 1989)

415,000 ozs @ 12g/t

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At CGT’s Other Projects

• Expansion of exploration team commensurate with our exploration focus and success.

• 48 separate project targets assessed.

• A strategically reviewed, prioritised and actioned exploration program.

• Focus on– The Chewton Deposit (JORC Inferred Resource of 686,000 ounces of gold)

– Near field potential at Wattle Gully / Castlemaine

– Tarnagulla regional and Berringa

– Ballarat South (adjacent to the current mine)

• Resource scaled drilling will follow successful results.

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CGT Projects outside Ballarat

Other ore-supply potential at

Castlemaine and Tarnagulla

80kmCastlemaine to Ballarat

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Existing JORC

Resources

High grade mines

1oz/t – 3 oz/t

Also potential from the Berringa goldfieldFor

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Castlemaine Project

•JORC Inferred Resource of 574,000oz at the Chewton Deposit.

•JORC Inferred Resource of 112,000oz at the Wattle Gully Mine.

• Infill drill program conducted in 2011 to increase Resource

confidence and assess underground mining potential.

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• Outcomes suggest further work could be to

the immediate north of the Wattle Gully /

Chewton deposits, at depth.

Chewton

Deposit

Drill program

Bicentennial

Drill program

Nth Quartz Hill

Drill program

Cappers

Drill program

Our tenements cover the entire goldfield (past historical production of 5.6 million ozs)

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Regional: - Tarnagulla

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RC drilling underway in 2011

& ongoing

Historical

production

Offers a high grade source 80kms from Ballarat with proven modern mining history (1994-2000)

82 named gold-bearing veins at surface.

Numerous un-named, unknown for gold.

How many under the surface?

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Regional : Berringa Project – 25kms to Ballarat Mill

• Victoria’s ninth largest historical goldfield

960,000 ozs

• Alluvial gold discovered in Kangaroo Gully in 1856

• Small scale quartz mining between 1865 to 1898

• Large scale quartz mining beginning in 1898 and lasting until 1917 (WW1)

• Historical production (1898 to 1917) – 292,000oz from 1,080,000 tonnes (8.4g/t)*

• Underground exploration at the Berringa Mine in the 1970’s and 1980’s with limited work done

Birthday Tunnel

Kangaroo

William Fancy

South BirthdayFreehold

* = Recovered

Deep drilling for repeat gold planned

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Navarre AC result

10m @ 34 g/t Au from 37m

Depth of cover = 19m

Figure c/- Catalyst Metals – May 2011

CGT Projects

Frederick the Great minesPast production 187,000 ozs at

~10g/t Au

North of Bendigo

Sebastian

Bendigo goldfieldPast production 22 million ounces

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WHY WE WILL SUCCEED

• “Let the geology do the talking”

• Ballarat Mine re-start de-risked – Portal and declines in, processing plant built

& commissioned, fully permitted to operate.

• First production achieved in Q3 2011 – targeting 50,000 oz pa

• Robust margins (operating cost per ounce ~A$710 – A$750/oz).

• Balanced mix of production, development and exploration

• Active, fully-funded drilling program underway

• Strong financial position – significant cash reserves and no debt

• Extensive portfolio of projects located in a world-class gold region

Investment PropositionF

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Page 28Ballarat Gold Plant with Gold Room at end of rainbow

www.cgt.net.au

ASX: CGT

Thank you

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