1. KENTOR GOLD LTD PREDICTIVE GOLD DISCOVERY KYRGYZ REPUBLIC Presented by David Royle The CIS Precious Metals & Stones Summit, Moscow 14 February 2006

2. KENTOR GOLD LTD Exploration Approach How does a small company like Kentor create opportunities to fast track to a gold discovery? Illustrated by 2 case studies: 1. regional scale (Talas Projects), and 2. local scale (Akbel Project)

3. KENTOR GOLD LTD Exploration Approach Extensive previous surface exploration by Soviets in Kyrgyz Republic Most outcropping deposits are well documented and picked over Thus high-tech generative approach chosen by Kentor to focus on hidden new gold deposits

4. KENTOR GOLD LTD Tien Shan Gold Belt of Central Asia

5. KENTOR GOLD LTD Exploration Approach The Challenge is to unlock the economic potential of shallow covered areas in the Tien Shan Gold Belt by: 1.Predicting the deposit location, and 2.Detecting the deposit existence Predicting – applying conceptual models through a GIS database to select areas for exploration Detecting – use of appropriate cutting-edge technology to define drill targets

6. KENTOR GOLD LTD Exploration Approach Kentor is backing itself to find blind or subtly concealed gold deposits at different scales: 1.Regional – choose the best gold belts using Soviet era data 2.Local – choose targets using combined remote techniques & drill

7. KENTOR GOLD LTD Talas Projects The 3 Talas projects were a direct outcome of the regional generative exploration program in 2004 Multilayered GIS targeting approach incorporating extensive Soviet geochemistry, satellite image processing and spatial analysis Emphasis on large intrusive related gold and copper- gold deposits

8. KENTOR GOLD LTD Talas Projects Historical Geochemical Data Coverage

9. KENTOR GOLD LTD Talas Projects Total 140 targets identified / ranked in late 2004 34 priority targets tested in the field 16 targets with positive signs of gold mineralisation Best 4 on open ground located in Kyrgyz Range acquired Subsequent exploration in 2005 upgraded 3 (Uzunbulak, Barkol, Karabalta)

10. KENTOR GOLD LTD Kentor Tenements – February 2006

11. KENTOR GOLD LTD Uzunbulak Project Showing 4 main drill ready porphyry copper-gold targets Drilling is planned to commence this month

12. KENTOR GOLD LTD Kentor Tenements – February 2006

13. KENTOR GOLD LTD Barkol Project Strong coherent gold-in-soil anomaly defined Anomaly is yet to be drill tested

14. KENTOR GOLD LTD Kentor Tenements – February 2006

15. KENTOR GOLD LTD Karabalta 2 highly encouraging targets outlined by stream and rock geochemistry

16. KENTOR GOLD LTD Akbel Project Example of local scale exploration Most advanced Kentor project Core asset & major focus for Kentor

17. KENTOR GOLD LTD Kentor Tenements – February 2006

18. KENTOR GOLD LTD Akbel – Bashkol Tenements

19. KENTOR GOLD LTD Kumtor Panorama looking south KUMTOR MINE South West Deposit - 0.5M oz Bordu Prospect Prospect ERTASH TENEMENT Sarytor Prospect KUMTOR MINE Akbel - Kentor 12M oz The Kumtor Gold Trend 09km

20. KENTOR GOLD LTD Akbel Project The challenge – extensive glacial till covering extensions of the Kumtor Trend Conventional methods not appropriate Innovative approach needed 2 principle exploration techniques applied: 1.Mobile Metal Ion (MMI) soil geochemistry 2.Induced Polarisation (IP)

21. KENTOR GOLD LTD Akbel Project MMI Soil Geochemistry Recent sampling shows larger and more coherent gold anomalies defining Kumtor Trend (about 19km semi-continuous Au±Bi±W anomaly) Results add evidence of repeatability of MMI technique

22. KENTOR GOLD LTD Akbel Project Systematic application of both techniques + geological interpretation continues to upgrade the project Multiple drill targets defined Key ingredients for a Kumtor-style gold deposit confirmed in initial drilling: –Favourable structures –Pyritic carbonaceous shale / tillite –Hydrothermal alteration Vector to the black shale mine host rocks NW Extensive drill program planned for 2006

23. KENTOR GOLD LTD Akbel Project - Drill Hole Locations Priority Drill Area

24. KENTOR GOLD LTD Conclusions This more predicative approach to targeting and exploring under cover is the next frontier for the discovery of the worlds gold and base metal deposits The approach being undertaken by Kentor in the Kyrgyz Republic is just as applicable to other parts of the CIS

25. KENTOR GOLD LTD Kentor has the management team, finance and the scientific skill to unlocking the potential of the highly prospective Tien Shan Gold Belt