Presentation Disclaimer Forward Looking Statements  This presentation may contain certain forward looking statements and projections regarding:  estimated, resources and reserves;  planned production and operating costs profiles;  planned capital requirements; and  planned strategies and corporate objectives.  Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of Gryphon Minerals Limited. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved.  Gryphon Minerals Limited does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws.

Company Structure (ASX: GRY) Only 89 Million shares on issue Tightly held - Top 40* own 70% Cashed up - $5 million Major Shareholders include: Genesis Fund Newmont Mining Corporation Macquarie Bank RMB Resources Phoenix Gold Fund Management Contango Fund Mariner Fund Standard bank

Daily average volume 12 months: 350,000 high/low: $0.80 / $0.25

“The Gryphon’s Nest” Burkina Faso - Banfora Gold Project: Substantial landholding of 1150km 2. A major gold producing district:3.2 Million oz gold Tongon (30km) 11.5 Million oz gold Syama (50km) 6.5 Million oz gold Morila (75km) “Open” drilling includes: 3.65g/t & 2.11g/t gold. Minara Resources JV: sulphide nickel exploration in Australia Management team with a proven track record in Africa. Aggressive exploration: 30000m RC/DD, 50000m RAB, 5000 soils. One of the worlds most prospective gold provinces. Maiden Resource: 2.1g/t for 410,000oz gold (<100m depth).

West African Explorer Burkina Faso PERTH Head Office Ghana

West Africa Banfora Project

Banfora Gold Project Historical Targets Banfora Gold Project 1150 kms 2 Area Entire Greenstone Belt Within Burkina Faso Fourkoura South East Fourkoura Wolloufasso Huro Huro West Nadieleme Fambefesso 0.25g/t Au Soil Geochemical Anomaly 3 x 0.25g/t Au Soil Geochemical Anomalies Fourkoura Prospect Maiden Gold Resource 2500m Soil Geochemical Anomaly Nogbele Nogbele Prospect Maiden Gold Resource 3000m Soil Geochemical Anomaly Nogbele Mineralised Corridor Fourkoura Mineralised Corridor Kassangarra 0.25g/t Au Soil Geochemical Anomaly Major Soil & Structural Anomaly

Nogbele Prospect Major Gold Target Banfora Gold Project 1150 kms 2 Area Entire Greenstone Belt Fourkoura South East Fourkoura Main Wolloufasso Huro Huro West Nadieleme Fambefesso Nogbele Nogbele Prospect Kassangarra

Nogbele Prospect Major Gold Target Major Zone Shear Kilometres 3.0 Kilometres

Nogbele Prospect Major Zone Shear Major Zone Shear 2.96g/t Au from 75m 2.46g/t Au from 48m 2.67g/t Au from 60m 1.38g/t Au from 101m 1.88g/t Au from 18m 4.41g/t Au from 88m 33.41g/t Au from 32m 11.0g/t Au from 10m 4.97g/t Au from 100m 1.87g/t Au from 22m 3.83g/t Au from 8m 1.63g/t Au from 17m 3.85g/t Au from 60m 4.12/t Au from 122m 1.95g/t Au from 9m 25.02g/t Au from 32m 2.18g/t Au from 1m 2.27g/t Au from 102m 3.42g/t Au from 108m 2.75g/t Au from 10m 3.14g/t Au from 34m

Nogbele Prospect Major Zone Shear Major Zone Shear 1.97g/t Au from 44m 1.78g/t Au from 4m 4.89g/t Au from 19m 3.53g/t Au from 110m 1.94g/t Au from 2m 10.91g/t Au from 42m 2.52g/t Au from 13m 3.13g/t Au from 9m 5.39g/t Au from 26m 2.54g/t from 37m 14.05g/t Au from 39m Au from 52m 2.82g/t Au from 70m 2.72g/t Au from 119m 3.62g/t Au from 49m 2.49g/t Au from 11m 3.49g/t Au from 8m 2.60g/t Au from 13m 2.07g/t Au from 37m 2.58g/t Au from 8m 5.60g/t Au from 0m 7.82g/t Au from 34m

Nogbele Prospect – “OPEN” Major Zone Shear Major Zone Shear 1.3g/t Au 15.22g/t Au 4.91g/t Au 2.98g/t Au 3.25g/t Au 1.15g/t Au 1.6g/t Au 2.0g/t 3.65g/t Au 1.77g/t Au 5.22g/t 4.45g/t 2.11g/t Au 1.41g/t Au 2.56g/t 1.55g/t Au 2.67g/t Au 2.25g/t Au 3.55g/t Au 4.28g/t Au

Nogbele Nangolo RAB Drilling Birimian Greenstone Belt Granodiorite Intrusion Soil Geochemistry 50ppb Au Contour 100ppb Au Contour 250ppb Au Contour x 23.8 Rock Chips g/t Nogbele North Zone Nogbele South Zone 2.73g/t Au from 4m (BOH) 4.60g/t Au from 16m (BOH) 1.4 km 2.76g/t Au from 12m (BOH)

Banfora Gold Project 1150 kms 2 Area Fourkoura South East Wolloufasso Huro Huro West Nadieleme Fambefesso 0.25g/t Au Soil Geochemical Anomaly No Drilling 0.25g/t Au Soil Geochemical Anomaly 2000m Soil Geochemical Anomaly Major Regional Structure No Drilling 3 x 0.25g/t Au Soil Geochemical Anomaly 8000m Soil Geochemical Anomaly Major Shear Zone No Drilling 5000m Soil Geochemical Anomaly Major Shear Zone No Drilling Banfora Gold Project Regional Targets Major ongoing regional soils Recent Soil Results Include +0.25g/t Au (max 0.65g/t) +0.10g/t Au (max 1.09g/t) +0.10g/t Au (max 0.22g/t) +0.10g/t Au (max 1.20g/t) +0.10g/t Au (max 1.98gt) To Power, Railway and Major Highway ~30kms Tongon Deposit (3.2Moz) ~ 30kms Syama Deposit (11Moz) ~ 50kms 2.10g/t for 410,000oz gold <100 meters deep Ouahiri Drill Results Include: 12.09g/t from surface 4.22g/t from 1m 3.89g/t from 8m (EOH) 4.96g/t from 15m 3.88g/t from 8m 2.20g/t from surface

Gryphon Minerals Timetable Banfora Gold Project: Regional soil geochemical sampling. Shallow resource definition Nangolo. Shallow resource definition Nogbele. Sulphide nickel JV - Australia: High grade depth Nogbele. Geophysics, geochem, drilling. Uranium drilling - Australia. Regional RAB drilling.

Gryphon Minerals Summary Strong & experienced management team. Cost effective access to gold through the Banfora Gold Project: Substantial landholding in world class gold region. Well funded with a tight capital structure. Under-explored with numerous high quality gold targets. Aggressive exploration programmes. Other high quality gold, nickel, uranium & diamonds in Australia. Nickel Joint Venture with Minara Resources. Major investors. Potential to define large scale gold mineralisation.

Gryphon Minerals Highly leveraged to…. Exploration success - gold & nickel Rising gold price World class share holder recognition