Castle Peak Mining Ltd. Investor Presentation

TSX.V: CAP|castlepeakmining.com

“Strategic Gold Project in Ghana’s Ashanti Belt” Corporate Presentation – October 2012


Forward Looking Statements

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The information contained in this presentation is provided by Castle Peak Mining Ltd. (“Castle Peak” or the “Company”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Castle Peak or other financial products. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The views, opinions and advice provided in this presentation reflect those of the individual presenters, and are provided for information purposes only. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions in this presentation. To the maximum extent permitted by law, none of Castle Peak nor its directors, officers, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. Except for statements of historical fact, this presentation contains certain “forward-looking information” and "forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements and information are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not limited to, statements with respect to the timing and amount of estimated future exploration, success of exploration activities, expenditures, permitting, and requirements for additional capital and access to data. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or dispose of property interests; future prices of mineral resources; accidents, labour disputes and other risks of the mining industry; ability to obtain financing; and delays in obtaining governmental approvals or financing, as well as those risk factors identified in the Company’s filing statement filed under the Company’s profile on SEDAR. Castle Peak undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Castle Peak’s disclosure of technical information in this presentation has been reviewed and approved by Darren Lindsay, P. Geo., Castle Peak’s President, who serves as a Qualified Person under the definition of National Instrument 43-101. Castle Peak Mining’s properties are early stage exploration properties and do not contain any mineral resources as defined by National Instrument 43-101. The potential quantities and grades disclosed in this presentation are conceptual in nature and there has been insufficient exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in these targets being delineated as a mineral resource.


Investment Highlights

Canadian-based exploration and development company focused on advancing greenfields and early stage gold projects

• Located in politically stable, mining friendly jurisdiction with favourable infrastructure – #2 producer in Africa and #7 globally (3 M oz in 2011)

• Strategic land package in southern Ashanti belt, one of the most highly gold endowed belts of the world, adjacent to several producing mines

• Drilling highlights include numerous high grade intercepts at the Apankrah Target; 6m of 80 g/t Au (uncut); incl. 1.6m of 296 g/t Au

• Quality exploration strategies & a systematic approach to uncovering abundant resource potential

• Experienced management team with respected track records & established relationships

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Financial Summary

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Issued and Outstanding Common Shares 76,096,693

Warrants 21,663,528

Stock Options 4,240,000

Fully Diluted 102,000,221

• Warrants:

• 382,900/457,100 exercisable at $0.25 expiring March 2013/June 2013

• 2,735,000/3,265,000 exercisable at $0.50 expiring March 2014/June 2014*

• 14,823,528 exercisable at $0.25 expiring July 2014**

*CAP holds the right to direct early exercise if shares trade for 10 consecutive at a volume weighted price of $0.75 or greater **CAP holds the right to direct early exercise if shares trade for 10 consecutive at a volume weighted price of $0.50 or greater


Financial Summary

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• Listed March 9, 2011 ($0.35 issue)

• Insiders hold ~48% (undiluted)

• Market Capitalization: ~$12 million

• Cash Position: $2.2M

• Strategic Partnership: Grizal Enterprises Ltd. $4M investment to hold ~23% (undiluted)


Mining Friendly Jurisdiction

• Stable governmental system since Ghana became a British colony in 1957

• Rated an investment grade country

• Favourable mining and tax code

• Import taxation excluded on equipment for foreign mining companies

• Excellent infrastructure and well trained labour force available (pop: 25 million)

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Ghana is the second largest gold producer in Africa with past production of >150 million ounces. Castle Peak’s Akorade project is located in southwest Ghana in the southern portion of the Ashanti volcanic belt.


Favourable Infrastructure

Castle Peak’s large land position lies 20 kilometres south of the town of Tarkwa, the regional mining centre.

• Located between the mining centre of Tarkwa and the port city of Takoradi

• Tarkwa-Takoradi road runs through CAP properties

• Projects are on the national power grid

• Established mining infrastructure due to proximity to multi-million ounce producers

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* Information on surrounding properties was obtained from publicly available sources. Although believed to be reliable, management of the

Company has not independently verified such information.


Strategic Land Package

• There are currently eight producing gold

mines and multiple development and exploration projects located on the southern Ashanti Belt

• Five of eight producers, accounting for

more than 50 million ounces in gold reserves and resources, lie within 50 kms of Castle Peak’s Akorade project

Castle Peak holds ~225 square kms in the southern Ashanti Gold Belt.

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* Information on surrounding properties was obtained from publicly available sources. Although believed

to be reliable, management of the Company has not independently verified such information.


Akorade Project

Nine contiguous licenses covering two key structural trends for gold deposits.

• Nine Concessions: Bonsaso (90%), Dompem (100%, 2.5% NSR), Enyinase (100%, 2.5% NSR), POW (82.5%), Asuogya (95%), Ayiem (95%), Nkwanta (95%), Kedadwen (95%) and Great Yorkshire (100%)

• Cross Structures on Birimian-Tarkwaian Boundary host similar structural controls as deposits currently being mined by nearby Goldfields (Damang) and Anglogold-Ashanti (Iduapriem)

• Flexures on N-S Structure host similar

structural and geological targets as Golden Star (HBB-FatherBrown) and Endeavor Mining (Nzema)

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Nkwanta: Drill Highlights

1. Apankrah Target: Apankrah Shoot Results • 6.0m of 80 g/t Au, incl. 1.6m of 296 g/t Au • 10.0m of 6.7 g/t Au incl. 2.5m of 10.2 g/t Au • 9.8m of 6.8 g/t Au incl. 1.0m of 51.8 g/t Au • 20m of 3.2 g/t Au, incl. 2.8m of 17.4 g/t Au • 7.5m of 7.2 g/t Au, incl. 2.2m of 24.2 g/t Au • 19.0 m of 1.5 g/t incl. 6.0m of 3.2 g/t Au

2. Nana Target: • 3.0m of 1.9 g/t Au • 0.5m of 10.3 g/t Au

3. Scorpio Target: • 13.0m of 1.0 g/t Au • 4.0m of 4.1 g/t Au

* ~4000 metres drilled to date at Nkwanta

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• Drill intercepts indicate the structure is flattening, forming a ramp feature at ~200m which may be the control for thicker intersections and higher grades

• Metallurgy pending; no carbon or arsenopyrite associated with the system (free gold)

Apankrah Shoot - Cross Section

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Encouraging results to date; reflective of adjacent producers which lie on similar structural corridors.


Apankrah Shoot – Bonanza Grade

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• Follow up drilling indicates the shoot is still open on strike at depth to the west, down dip and down plunge

Drill hole NKDDH022, down plunge test of the Apankrah Shoot, returned (uncut) 6.0m of 80 g/t Au, including 1.6m of 296 g/t Au, across a 17m intersection of lower grade gold mineralization

A

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Apankrah: Next Steps

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• Metallurgical sampling (Oct)

• Evaluate geological structures to better understand controls for high grade shoot(s) (Oct)

• Geology and gold model = internal resource estimate and estimate of potential (Nov)

• Conduct limited drill program if warranted based on known resulting geological model (Nov)


POW: Small Volume Intrusion (SVI) Concept

• The structural trend is generally north-south and appears to be a splay off of the large regional structure located to the east

• A key structural intersection within the target area occurs where easterly trending structures intersect the north-south target zone

• Similar movement on the north-south structures leads to faulting within the bounded ridge body (granitoid)

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POW: Dansuom Target

An open 1,400m x 200m gold-in-soil anomaly defined by gold values >30 ppb.

Highlights: • 10.8m of 2.9 g/t Au, incl. 3.6m of 8.0 g/t Au • 16.5m of 0.7 g/t Au, incl. 6.9m of 1.2 g/t Au • 15.0m of 0.6 g/t Au, incl. 4.5m of 1.6 g/t Au

Next Steps: • Awaiting trench extension and road

sampling results • Complete access road construction • Continue mapping and sampling programs • Conduct geophysics in target area • Compile geology and geophysics • Review and prioritize generated targets

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Target Generation

25 target areas covering all 9 concessions

• Drilling: AA Veins target on Asuoyga/Ayiem 9km anomaly: • 16.5m of 1.1 g/t Au • 13.0m of 1.0 g/t Au

• Soil/Channel Sampling: 1,195 soil and channel samples collected with 562 still to come over 6 concessions

• Geophysical Surveys: ~30km of targeted surveys completed on 4 grids; target refinement survey to be completed on Dansuom

• Trenching: 62m completed on POW and Asuogya

• Continue with regional and target scale geological mapping, prospecting & sampling

• Compile, prioritize, & evaluate highly prospective targets; drilling to follow based on results

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2012 Exploration Summary

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Completed ~3000m drilling at Apankrah target to define high potential Apankrah shoot and further test associated Nana and Scorpio targets

Continuing field work for target generation, evaluating inferred structure and geology by mapping, prospecting, trenching and soil & channel sampling (75% complete)

Finishing road construction and improving access to Dansuom target (60% complete)

Converting Great Yorkshire from prospecting license to reconnaissance license to initiate subsurface work (submitted)

Awaiting geophysical surveys to evaluate future targets

Evaluating the land package for additional resource potential

Strategically & aggressively following up on high priority targets to deliver the greatest resource potential


Management Team

Darren Lindsay, BSc, PGeo – President & Chief Executive Officer Registered geoscientist with 15 years international experience. Key player in developing the multi-million ounce Hope Bay gold deposits with Miramar Mining and later Newmont Mining, prior experience with BHP Minerals, Inmet Mining, and Kodiak Exploration

Paula Rogers, CA - Chief Financial Officer Chartered Accountant with 15 years international experience. Corporate Treasurer with Wheaton River Minerals before becoming Vice-President, Treasurer with Goldcorp, prior experience with Finning International and Deloitte and Touche and is currently Director and Audit Committee Chair for Timmins Gold Corp.

Clive Arthur, M.Sc, BSc – Vice President Exploration Economic geologist with over 30 years experience in the exploration and mining industry. 20+ years experience in Africa with Anglo-American, African Eagle, JCI and Anglovaal Ltd. Prior experience with Kazakhstan Minerals Corp and as a consultant for projects in Eastern Europe and the FSU. Most recently he worked as Exploration Manager for European Goldfields in Romania

Henry Sowah, BSc, MBA – Exploration Manager Native Ghanaian with more than 8 years experience in mining in West Africa, student with Ashanti GoldFields

Marlo Hamer-Jackson – Investor Relations Manager 12 years experience in corporate relations with Placer Dome, Goldcorp, Ventana Gold Corp.

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Board of Directors

Brian Lock (Chairman) - 30 years experience in mining, founder of Proton International Engineering Corp. (devoted to development of junior mining projects), EVP of Frontier Pacific Mining Corporation since early 2006 until Eldorado Gold’s takeover in July 2008. Currently Director of Scorpio Gold Corporation, Canaco Resources Inc. and San Marco Resources Inc.

Randy Smallwood, P.Eng - Founding member and current President and CEO of Silver Wheaton Corp., geological engineer with original Wheaton River Minerals who played instrumental part in 2005 merger with Goldcorp into one of the largest, most profitable gold companies in the world. Former Director of Ventana Gold Corp., current Director of Tigray Resources Inc., Geologix Explorations Inc. and Riva Gold Corp.

Peter J. Hawley, P.Geo – President, CEO and Director of Scorpio Gold Corp. and Chairman and Director of Scorpio Mining Corp. Director of Maxtech Ventures Inc., Chimata Gold Corporation and Abitex Resources Inc.

Darren Lindsay, BSc, PGeo - President & Chief Executive Officer of Castle Peak Mining Ltd.

Darryl Cardey, CA - Chartered Accountant and partner with CDM Capital Partners, co-founder of Underworld Resources (bought by Kinross May 2010), CFO of Crazy Horse Resources, and Minaurum Gold

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Board of Directors (continued)

Randal Gindi - Founder of Castle Peak and has been involved in the mining industry since 2001. Also a principal in multiple real estate corporations focused on property development and management

Allan Green - President and owner of Consellior SAS, a French company active in strategic advisory services to public and private companies. He is an active investor in both public and private sectors and has developed strong relationships within European financial institutions

Jurgen Eijgendaal - Managing Director of Ghana Manganese Company Ltd and Nsuta Gold Mining Ltd., a 90% Grizal Enterprises Ltd owned (10% Government of Ghana) gold exploration Company with exploration activities immediately north of Castle Peak’s land position. Previously Managing Director of an underground chromite ore mine in South Africa. With more than 14 years in Ghana, he has served as the President of the Ghana Chamber of Mines for two terms between 2006 and 2010 and former member of the Board of Directors of the Ghana Railway Development Authority

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Advisory Committee

Dr. David I. Groves - Currently Director of Project Development for Canaco Resources Inc. & Tigray Resources Inc. and an Emeritus Professor at the Centre for Exploration Targeting. Has been honoured as a Fellow of the Australian Academy of Science and received eleven medals for his research over his career, most recently the prestigious Penrose Gold Medal of the Society of Economic Geologists (SEG) and the SGA-Newmont Gold Medal of SGA

Andrew Lee Smith, BSc, PGeo - More than 20 years experience in exploring, developing and operating base and precious metal mining and gem projects. Currently President and CEO of Canaco Resources & Tigray Resources Inc., previously VP, Exploration with Aurizon Mines, and co-founder of True North Gems

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Why Castle Peak?

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• Located in the politically stable, mining friendly jurisdiction of Ghana

• ~225 sq. km’s covering two key structural trends for gold deposits in the Southern Ashanti belt

• Quality systematic exploration program

• Encouraging Phase I results similar to neighbouring deposits & prospects hosting 50 million ounces in gold reserves and resources

• Management team with positive relationships and respected track records

Mission Statement: Castle Peak is a junior exploration company striving to identify grassroots targets and under-valued gold assets in Ghana with the potential for advancing to near term development. The Company endeavours to operate in a safe and environmentally sound manner while continuing to develop working relationships with government officials and members of the local communities.


Contact

Corporate Office Suite 1318 - 1030 West Georgia Street Vancouver, BC V6E 2Y3 Tel: 604.681.1466 Fax: 604.681.1404 Email: [email protected] Twitter: @Castlepeakgold Investor Relations Marlo Hamer-Jackson Investor Relations Manager Tel: 604.681.1466 (X225) Email: [email protected] Darren Lindsay President & CEO Tel: 604.681.1466 (X222) Email: [email protected]

Ghana Office № 22 Third Close Airport Residential Area Accra, Ghana Tel: 011.233.302.736.024

mailto:[email protected]




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• Secured ~225 km2 land tenure covering a portion of the prolific Tarkwaian-Birimian boundary

• Initiated and completed first ever drill program on this land package: 6,814m

• Drill evaluated four targets; two of which have potential to host near term resources

• Performed project wide geophysical VTEM survey: 3,425km

• Completed 43-101 technical reports on the Nkwanta, POW, Asuogya and Ayiem concessions

• Compiled and reviewed all historical streams, soil, auger sampling and trenching

• Completed target generation on all concessions based on geophysical, geochemical and interpreted geology

Appendix – Achievements


• Largest anomaly 9500m x 1000m on Asuogya-Ayiem trend on +20km long structure (Regional feature)

• Strong conductance zone (VTEM) shallow and deep signatures

• Initial drilling completed on edge of strong conductance zone in area of active artisanal mining activity

• Evaluated -50m and -100m level 16.5m @ 1.1 g/t and 13m @1.0 g/t Au and additional narrower intercepts on weakening structure

• Further target generation and review for additional Phase I testing within conductive zone and in southern portion of gold in soil anomaly

Appendix – Asuogya-Ayiem Concessions – AA Veins Target


Appendix – VTEM/Magnetic/Radiometric Airborne Geophysical Survey

• Completed a 3,425 km airborne survey over entire ~225 sq. km land package

• First modern compilation of the geology at a concession and prospect level

• Confirmed initial interpretations of controls, specifically, flexures on the inferred north-south structures and cross structures on Birimian-Tarkwaian boundary resemble similar controls for deposits currently being mined in the area

TSX.V: CAP|castlepeakmining.com 27

Combined these targets have the potential to be an anchor resource for CAP.V

Appendix: Nkwanta Targets

1. Apankrah Target: High potential based on productive ENE structural orientations and initial high grade drill results

2. Scorpio Target: Strong chargeability based on IP survey. Appears to be a linking structure between the Apankrah & Nana targets

3. Nana Target: Parallel structure north of Apankrah. Evaluating an inferred shoot based on drill results and the geometry confirmed at the Apankrah target

4. Un-named Target: Parallel structure located north of the Nana target. Active with artisanal mining