1. 1 WELL DEFINED. WELL ADVANCED. WELL PLANNED. KRP DEPOSIT: A New Gold Discovery with World Class Potential

2. 2 Investment Highlights Advanced gold exploration project located in one of the best mining jurisdictions in the world – Ontario, Canada Lead KRP project has a bulk tonnage model with multi-million ounce potential High quality initial 43-101 resource of over 1 million ounces 377,000 M&I Au oz @ 1.73 g/t 624,800 Inferred Au oz @ 1.02 g/t KRP Project located next to excellent infrastructure Rundle-Swayze project has 300,000 ounces with excellent upside potential 166,000 M&I Au oz @ 7.17 g/t 142,100 Inferred Au oz @ 5.52 g/t Experienced management team Capital market and operational experience Attractive valuation Priced at $30 EV/oz vs. $120 EV/oz Leverage to multiple expansion and resource expansion

3. 3 Canadian Operations Near Excellent Infrastructure Located near Sioux Lookout/Dryden in Ontario, Canada 4 km off of paved provincial highway Power lines 15 km from discovery Abundance of skilled labour nearby Can carry out drilling year round with multiple drill rigs 3 Historic Power Trans-Canada

4. KRP Project located on a Prolific Greenstone Belt 4 Cameron 1Moz Au KRP 1Moz Au The KRP deposit is situated on the Wabigoon Greenstone Belt It is in a similar setting to Rainy Rivers project, also situated in the Wabigoon sub-province Land package of 24,862 hectares (100% controlled)

5. 55 Initial NI 43-101 Resource Estimate Cut -off ClassTonnes (mm) Au (g/t) Ounces 0.3 g/t Measured4.71.74263,000 Indicated3.61.42167,000 M&I8.31.60430,000 Inferred25.50.88722,000 0.4 g/t Measured4.21.81243,000 Indicated3.11.53151,000 M&I7.31.69394,000 Inferred21.80.96673,000 0.5 g/t Measured3.91.85233,700 Indicated2.81.57143,300 M&I6.71.73377,000 Inferred18.91.02624,800 Wardrop Engineering Report – October 2010 Seven mineralized zones Current & 43-101 compliant – 1,001,800 ozs at 0.5 g/t cut-off Historical metallurgical tests demonstrate recoveries ranging from 95.7% to 97%

6. Increasing Ounces Potential to Significantly Expand Strike Extension of Mineralization Only 3.0 km of strike length explored Mineralization known to extend over 7.0 kms Additional mineralized zones identified to both North and South of current KRP zones Strike length begins at KRP deposit through to the Quyta block (drilled with a geological potential of approximately 150,000 ozs) 6 12 km

7. 77 EV / Resources ($/Au oz) $132.60 - Peer Average (ex. High and Low) $30.10 - Tamaka (post-money) 4.4x Tamaka Valuation (cont.)

8. 8 Pro Forma Share Capital Structure 8 TypeShares Flow-Through Shares21,751,197 Common Shares91,088,724 Total Basic Shares112,839,921 Options12,303,840 Warrants @ $0.5020,090,683 F.D. Shares145,234,444 Recent FinancingsNotes Summer 2011 Raise20,090,683Units at $0.35 12,979,662Flow Through shares at $0.375 Sept. 30, 2010 – May 2011950,000Common Shares at $0.50 500,000Common Shares at $0.40 Year Ending Sept. 30, 20102,387,500Common Shares at $0.40 100,000Flow Through Shares at $0.50 Year Ending Sept. 30, 20091,562,500Common Shares at $0.40 230,769Flow Through Shares at $0.65 2,960,000Flow Through Shares at $0.50