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Iron in Cameroon
April 2009
April 2009Slide 2 first mover gold explorer
This document may contain certain "forward–looking statements", including, but not limited to, statements
concerning current and future drilling programmes, estimation of mineral resources, the continuing
development plan, the type of mineralization present and expected results. Information inferred from the
interpretation of drilling results may be deemed to be forward looking statement, as it constitutes a
prediction of what might be found to be present when and if a project is actually developed. Statements and
estimates concerning mineral resources may also be deemed to be forward looking statements in that they
involve estimates, based on certain assumptions, regarding the mineralization that would be encountered if
and when a mineral deposit is actually developed and mined. Forward looking statements are not historical
facts, and are subject to a number of risks and uncertainties beyond management’s control. There can be no
assurance that such statements will prove to be accurate. Actual results and future events could differ
materially from those anticipated in such statements. Risks and uncertainties that could cause results or
future events to differ materially from current expectations expressed or implied by the forward–looking
statements include, among other things, but without limitation, those set forth in the prospectus of African
Aura Resources Ltd. (“African Aura”), and particularly in the section entitled “Risk Factors”.
For more information about the Company’s properties and projects, please refer to the technical report dated
31st October 2007 prepared by Martin Pittuck and Gareth O’Donovan of SRK Consulting (UK) Limited in
accordance with the requirements of National Instrument 43–101 Standards of Disclosure for Mineral Projects
(“NI 43–101”). This document is available at www.sedar.com under African Aura’s public documents.
The technical information contained in this document was compiled by qualified persons under NI 43–101 who
have consented to the inclusion of such technical information in the form in which it appears in this document.
Disclaimer
April 2009Slide 3 first mover gold explorer
To be a pre-eminent TSX-V listed West African focussed iron ore
developer and pioneering gold explorer in harmony with the
communities in which we operate; growing our resources
through discovery, merger and acquisition to create value for all
current and future stakeholders.
IntroductionOur vision
April 2009Slide 4 first mover gold explorer
Introduction
Focussed on West Africa with a clear vision for growth
Experienced team discovering and building gold mines
Significant iron ore deposit at Nkout
Highly prospective gold portfolio in Cameroon and Liberia
70% owner of Ridgeway Energy (uranium in Cameroon)
BVI incorporated; listed March 08 (TSX-V Tier 1: “AAZ”)
C$6.0m cash on hand; 2009 total budget of C$1.69m
Overview
April 2009Slide 5 first mover gold explorer
Our portfolio
Cameroon: 9,500km2
Liberia: 400km2
First mover advantage
Highly prospective
licence base
April 2009Slide 6 first mover gold explorer
Define 1bn tonne iron resource at Nkout
Define 2 x 1M oz gold resources in Cameroon
Seize value-adding JV/ merger/ acquisition opportunities
Update shareholders of strategy and progress
Build on our reputation for operational excellence
Objectives
April 2009Slide 7 first mover gold explorer
David Netherway, Independent Chairman
Mining engineer (30+ years); CEO Shield Resources;
former CEO Afcan (Eldorado $115M), former director
Equigold (EQI-A), Director of Orezone (OZN-T),
KazakhGold (KZG-L), Gold Mines of Algeria (GMA-L)
John Gray, President and CEO
Geologist (18+ years); Homestake, Noranda, Axmin,
co-founder Northern Minerals and Basti Resources
Matthew Grainger, Independent Director
Geologist (9+ years); co-founded Altus Strategies &
Ariana Resources
Steven Poulton, Independent Director
Founder African Aura; Altus Strategies (CEO), Stellar
Diamonds; co-founder Ariana (AAU-L)
Danesh Varma, Independent Director
Accountant (20+ years); CFO Canadian Zinc (CZN-T)
and Conquest Resources (CQR-V)
Manuel Lamboley, Independent Director
Investment banker (20+ years); ex-UBS, Williams de
Bröe, Kidder Peabody (Geneva)
Our team
David Swan, CFO
Accountant (30+ years); A Anderson, Oriel Resources
Mark Biddulph, COO
Geologist (14+ years); 11 years as senior geologist and
senior mine manager with Anglogold Ashanti
Charles Savage (Consultant)
Iron Ore Mining Engineer with 37 years experience
Ian Prince, Drilling Manager
Driller and mechanic (30+ years); with diamond drilling
and RC experience throughout west and central Africa
Primus Asua, Financial Controller Cameroon
ACCA qualified accountant (7+ years)
Emanuel Blankson, Financial Controller Liberia
An Associate Member of the Liberia Institute of Certified
Public Accounts (20 years experience)
Val Jones, UK Office Manager
Finance and administrative assistant
April 2009Slide 8 first mover gold explorer
Cameroon
World Bank sponsored mining law
Highly prospective Archaean geology
Deep water Atlantic port planned
Well developed infrastructure
Stable democracy
Active Resource Companies in Cameroon
Company Commodity Exchange
African Aura Gold TSX-VGeovic Mining Cobalt & Nickel TSX–VMega Uranium Uranium TSXUranex Uranium ASXSundance Resources Iron Ore ASX
April 2009Slide 9 first mover gold explorer
‘Hinge of Africa’: Cameroon, Gabon, Republic of Congo
4 x 1,000km2 licences , including NKOUT & NGOA
Iron Deposits in ‘Hinge of Africa’
April 2009Slide 10 first mover gold explorer
World class iron ore province : 9 known deposits
Nkout Project (100%):13.5km target up to 65% Fe
Initial target: 500-1,000Mt (JORC/ NI 43-101 resource)
Nkout Iron Project - Overview
April 2009Slide 11 first mover gold explorer
300km from deep water
115km west of Mbalam
Haematite and Itabirite
Zero stripping ratio
Discovered by BRGM
NGOAN K O U T
Nkout – Location
April 2009Slide 12 first mover gold explorer
Airborne magnetic dipole coincident with topography
Topography and mapping confirms 13.5km ridge
Access and infrastructure from Djoum town
Nkout – Magnetics & Topography
April 2009Slide 13 first mover gold explorer
[% Fe] Samples Main component
53-65 17 Fe2O3
46-64 9 Fe2O3 + FeO (OH)x
36-45 10 SiO2 rich
1-20 8 Rocks#1030-1-1 - Nkout Itabirite
Nkout – Reconnaissance results
Average 54% Fe from grab sampling along 5km section
Mineralogy and processing studies underway
Massive ± banded haematite and breccia ores
April 2009Slide 14 first mover gold explorer
Phase Primary ActivityYear
US$1 2 3 4 5
1a - Project
infrastructure
Scout drilling, GIS creation, access roads,
base line, trenching and initial mapping
$1m
1b – First Phase
Exploration
Topographic, geological, magnetic surveys,
trenching as appropriate and met-testwork
$1.5m
2 – Second Phase
Exploration
>5,000m drilling, met/ min testing &
geostatistical modelling
$4.5m
3 - Pre Feasibility
Study
~ 20,000m drilling, adit development, bulk
sampling, initial logistics studies
$9m
4- Bankable
Feasibility
Road, rail, port access, site
accommodation, services studies
$10-30m
5 - Mine
Construction
Machinery, rail head, pelletising plant,
stockpiling, ship loading etc.
TBC
Nkout – Exploration plan
April 2009Slide 15 first mover gold explorer
Budget: US$1.0m
30m SRTM ± aerial photos for infrastructure planning
Establish field camp, communications & staffing
Develop 5km access roads, 9km baseline
Commence systematic prospecting
Drill 1,000m of core
Nkout – Phase 1a) Exploration (6 mths)
April 2009Slide 16 first mover gold explorer
Budget: US$1.5m
Combined geological & magnetometer survey
Establish on-site sample preparation facility
Implement Environmental Permitting
Systematic trenching (5,000m) spaced at 50-100m
Exploration licences extended until August 2011
Nkout – Phase 1b) Exploration (6 mths)
April 2009Slide 17 first mover gold explorer
Nkout West
10km of targets
Mapped as BIF by BRGM
Strong geophysical signature
On planned access to Nkout
Akonolinga
Contiguous with Djoum
Airborne dipole targets
7km of mapped BIF
Additional targets
April 2009Slide 18 first mover gold explorer
Ntem
100% African Aura
Multiple BIFs [BRGM]
Mapping underway
50km from the coast
Additional targets
April 2009Slide 19 first mover gold explorer
Social & Environmental
‘Source locally first’ schemes for staff and supplies
Significant local employment & professional development
IFC guided Social Baseline Studies
IFC guided Environmental Impact Studies
April 2009Slide 20 first mover gold explorer
ShareholderShares (M)
%
Management & Directors 7.87 11.7%
Firebird Global Master Fund II, Limited 4.74 7.0%
Arbitrage Research and Trading limited 4.43 6.6%
RBC Global Precious Metals Fund 3.80 5.6%
GOLD 2000 3.16 4.7%
AM2 (Bermuda) Limited 2.59 3.8%
Atlas Financial International Limited 2.40 3.6%
Sprott Asset Management Inc. 2.22 3.3%
Passport Capital 2.22 3.3%
SALIDA 2.00 3.0%
Pinetree Resources Partnership 1.87 2.8%
GAIA Resources Fund 1.86 2.8%
Other & private investors 28,20 41.9%
Total (Undiluted) 67.36 100%
Warrants 30/09/09 @ C$0.55 0.93
Warrants 30/09/10 @ C$0.60 10.56
Warrants 30/03/10 @ C$0.80 8.28
Employee Options (average C$0.29) 5.0
Total (Fully Diluted) 92.3
Share capital
Share price since March 08 (IPO)
Capitalisation summary
Shares on issue 67.36
Cash on hand (C$) C$6.0m
Cash per share C$0.09
Recent Share price C$0.10
Recent Capitalisation C$6.70m
April 2009Slide 21 first mover gold explorer
West African focused pioneering explorer
Experienced board and team & strong shareholder base
Major new prospect in prolific iron ore province
Multiple gold projects from four years exploration
First mover strategy creating shareholder value
Well financed
Summary
April 2009Slide 22 first mover gold explorer
Registered Offices:
African Aura Resources LtdPasea EstateRoad TownTortolaBritish Virgin IslandsCompany No:290507
African Aura Resources (UK) Ltd 14 Station Road The Orchard Centre Didcot, Oxfordshire, OX11 7LLUnited KingdomCompany No:05944161
Principal Bankers:
HSBC Bank186 Broadway, DidcotOxfordshireOX11 8RPUnited Kingdom
Bank of Butterfield65 Front StreetHamilton HM 12, P.O Box HM195Bermuda
Brokers: Thomas Weisel Partners10th Floor70 York St.Toronto, Ontario M5J 1S9Canada
Haywood Securities800 BCE Place29th Floor, 181 Bay StreetToronto, Ontario M5J 2T3Canada
Solicitors: LV Conseil Institutionnels750, boul. Marcel-LaurinBureau 106, Saint-LaurentQuebec, H4M 2MCanada
Registrar & Transfer Agent
Computershare100 University Avenue, 8th Floor,Toronto, Ontario M5J 2Y1Canada
Independent Consultants:
SRK ConsultingWindsor Court, 1-3 Windsor Place Cardiff CF10 3BX
Auditors: Deloitte & Touche5140 Yonge StreetSuite 1700Toronto, Ontario M2N 6L7Canada
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