Ramping-up to Full Capacity Investor Presentation February 2009

Disclaimer These materials include forward looking statements. Forward looking statements inherently involve subjective judgment & analysis & are subject to significant uncertainties, risks & contingencies, many of which are outside of the control of, & may be unknown to, the company. Actual results and developments may vary materially from that expressed in these materials. The types of uncertainties which are relevant to the company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the company & general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the company undertakes any obligation to publicly update or revise any of the forward looking statements, changes in events, conditions or circumstances on which any such statement is based. These materials include forward looking statements. Forward looking statements inherently involve subjective judgment & analysis & are subject to significant uncertainties, risks & contingencies, many of which are outside of the control of, & may be unknown to, the company. Actual results and developments may vary materially from that expressed in these materials. The types of uncertainties which are relevant to the company may include, but are not limited to, commodity prices, political uncertainty, changes to the regulatory framework which applies to the business of the company & general economic conditions. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, the company undertakes any obligation to publicly update or revise any of the forward looking statements, changes in events, conditions or circumstances on which any such statement is based. Forward Looking Statements:

Additional Disclaimers Information in this presentation that relates to Exploration Results, Mineral Resource and Ore Reserve estimates, geology, drilling and mineralisation, is based on information compiled by Ron James, who is an employee of the Kingsgate Group and is a member of The Australasian Institute of Mining and Metallurgy. Ron James is a Competent Person under the meaning of the JORC Code with respect to Exploration Results, Mineral Resource and Ore Reserve estimates, geology, drilling and mineralisation being presented. He has given his consent to the Public Reporting of these statements concerning Exploration Results, Mineral Resource and Ore Reserve estimates, geology, drilling and mineralisation, and is in agreement with the contents and format of this presentation. Competent Person’s Statement: Any statement or information relating to the potential quantity and grade of an exploration target, specifically the Chokdee Prospect, is based on recent public announcements and is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Reporting on Exploration Targets:

 Gold Production Increasing  Full capacity Mar Qtr  ,000 oz/yr rate  Cash costs ~US$350/oz in CY09  Large expanding asset  Growing reserves / resources  Expanding to double throughput  Solid balance sheet & cashflow  Major new discovery in Gold Belt  Gold Production Increasing  Full capacity Mar Qtr  ,000 oz/yr rate  Cash costs ~US$350/oz in CY09  Large expanding asset  Growing reserves / resources  Expanding to double throughput  Solid balance sheet & cashflow  Major new discovery in Gold Belt Kingsgate’s Turn-around Chatree Gold Belt

 Thai focus - listed in ASX 200  Key asset - Chatree Gold Mine  Gold producer for 7 years  Mine life a further years  Rural area; good infrastructure  US$30 million debt facility  ASX:KCN Mkt Cap: ~US$280M  Shares: 93 million + 9M options  Held: 15% USA, 25% Europe, 5% Asia, 49% Aust, 6% Directors  Thai focus - listed in ASX 200  Key asset - Chatree Gold Mine  Gold producer for 7 years  Mine life a further years  Rural area; good infrastructure  US$30 million debt facility  ASX:KCN Mkt Cap: ~US$280M  Shares: 93 million + 9M options  Held: 15% USA, 25% Europe, 5% Asia, 49% Aust, 6% Directors Growing Thai Gold Chatree North Mining Leases Chatree North Mining Leases 1 mile

Production Growth Full production in Mar-June Qtr ‘09 Increased grade to ~2g/t Transition: old to new mining areas Full production in Mar-June Qtr ‘09 Increased grade to ~2g/t Transition: old to new mining areas Successful ramp-up to full capacity Successful ramp-up to full capacity Costs reducing Grade increasing Costs reducing Grade increasing Higher grade & higher tonnage will bring reduced costs: ~ US$350/oz -> lowest quartile gold producer Higher grade & higher tonnage will bring reduced costs: ~ US$350/oz -> lowest quartile gold producer Production rate ,000oz/yr Production rate ,000oz/yr Production rate ,000oz/yr from Jan-March ‘09 Improved cash flows Forecast ~100,000oz FY09 (to June) Production rate ,000oz/yr from Jan-March ‘09 Improved cash flows Forecast ~100,000oz FY09 (to June)

Production Ramp-up Success New mining areas opening up Dec’08 Qtr Production: 12,771 ozs Jan’09 Production: 10,900 ozs Jan’09 Cash Costs: US$370/oz Costs decrease to ~US$350/oz Dec’08 Qtr Production: 12,771 ozs Jan’09 Production: 10,900 ozs Jan’09 Cash Costs: US$370/oz Costs decrease to ~US$350/oz Successful Ramp-up to Full production Successful Ramp-up to Full production C North A Pit K East

Access to Higher Grades Mining A Hill -> A Pit Higher grades to lift gold head grade Resource Development drilling for 1 st time on west side Mining A Hill -> A Pit Higher grades to lift gold head grade Resource Development drilling for 1 st time on west side Mining A Pit / A Hill – Higher grades Mining A Pit / A Hill – Higher grades Mining Drilling A Hill

Access to Higher Grades Mining at C North Higher grades (>3g/t) commence late in Mar Qtr’09 Mining at C North Higher grades (>3g/t) commence late in Mar Qtr’09 Mining C North – Higher grades soon Mining C North – Higher grades soon Mining High Grade >3g/t

Large Asset – Chatree North  Average LARGE gold deposits are ~ 4 Moz  Chatree system ~ 5 Moz (incl. mined to date)  Drilling will increase Resources/Reserves  Pits could become a Thai Super Pit  Current status:  1.4Moz Reserve  3.2Moz Resource  Average LARGE gold deposits are ~ 4 Moz  Chatree system ~ 5 Moz (incl. mined to date)  Drilling will increase Resources/Reserves  Pits could become a Thai Super Pit  Current status:  1.4Moz Reserve  3.2Moz Resource 3 mi 3 mi 1mile Kalgoorlie Super Pit (same scale) Kalgoorlie Super Pit (same scale)

Issara Mining Limited Q East trend Resource Growth - in Leases Chatree North (Looking south) Chatree North (Looking south) Planned Pit shells Planned Pit shells Current drilling areas Current drilling areas Q Pits Q Pits A Pit

Issara Mining Limited Q East trend A Pit Resource Growth - in Leases Planned Pit shells Planned Pit shells Current drilling areas Current drilling areas Q Pits Q Pits Section 3199RC Section 19750N Higher grades to lift gold Head Grade Higher grades to lift gold Head Grade

“A” Pit – Chatree North A East Higher grade underground potential Higher grade underground potential 16g/t gold 1oz gold + 10oz silver Immediate drill target Immediate drill target A Pit Resource ‘A’ PitReserve ‘A’ Pit 1.8 Moz Gold 1.1 Moz Gold 18 Moz Silver Mining

 World’s Safest Gold Mine  AusIMM award  World’s best ISO standards  Only mining company granted Social Accountability SA8000  Zero Environmental Incidents  Community projects  Training focus - 99% Thai  23% women in management  High quality, stable workforce  World’s Safest Gold Mine  AusIMM award  World’s best ISO standards  Only mining company granted Social Accountability SA8000  Zero Environmental Incidents  Community projects  Training focus - 99% Thai  23% women in management  High quality, stable workforce Excellent Track Record

Expansion: De-risking Process Plant Expansion mtpa Plant Expansion mtpa Expansion Plant Area Current Plant 2.4 mtpa Current Plant 2.4 mtpa Expanded Total 5 mtpa Expanded Total 5 mtpa  Review underway to de-risk expansion & financing  Increase resource base during process  Already purchased/delivered grinding mills  Review underway to de-risk expansion & financing  Increase resource base during process  Already purchased/delivered grinding mills

Resistivity Anomalous Zones Resistivity Anomalous Zones Chatree North Chatree North Chatree 42 mi 42 mi Granted Pending Granted Pending Nakhonsawan Province Phitsanulok Province Phichit Province Phetchabun Province Chatree North Chatree  Regional drilling started  New discoveries as large or greater than Chatree  1st discovery made in initial drilling of high priority target  Large gold-in-soil anomaly: potential open cut mine  Other drill ready targets  Potential for further discoveries in gold belt  Regional drilling started  New discoveries as large or greater than Chatree  1st discovery made in initial drilling of high priority target  Large gold-in-soil anomaly: potential open cut mine  Other drill ready targets  Potential for further discoveries in gold belt New Discoveries

Chatree Resource Growth Chatree Resource Growth Chatree Chokdee Prospect Chokdee Prospect Soil Geochemical Anomalies 3.6Moz Moz Moz 2006 Potential 5-10Moz Chokdee Prospect - Chatree Size? 4+ mi 3 mi ~ 2 mi 1.2Moz 2000

Chokdee Discovery Section line Rockchips up to 1,030 g/t gold

Future’s Improving Successful Ramp-up Full Production during next 2 Qtrs Costs will reduce to ~US$350/oz Successful Ramp-up Full Production during next 2 Qtrs Costs will reduce to ~US$350/oz Production Growth Higher Grades Production Growth Higher Grades Resource Growth Extend mining areas Resource Growth Extend mining areas Drilling extensions to orebodies Areas have never been drilled Resource growth within leases Drilling extensions to orebodies Areas have never been drilled Resource growth within leases New Discoveries Chokdee Prospect 1 st of Many New Discoveries Chokdee Prospect 1 st of Many New discovery: Potential to be larger than Chatree Many other drill ready targets New discovery: Potential to be larger than Chatree Many other drill ready targets