2. 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.

3. 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

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

5. “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: 16m @ 3.65g/t & 16m@ 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: 6.1Mt @ 2.1g/t for 410,000oz gold (<100m depth).

6. West African Explorer Burkina Faso PERTH Head Office Ghana

7. West Africa Banfora Project

8. 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 600m @ 0.25g/t Au Soil Geochemical Anomaly 3 x 1000m @ 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 1000m @ 0.25g/t Au Soil Geochemical Anomaly Major Soil & Structural Anomaly

9. 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

10. Nogbele Prospect Major Gold Target Major Zone Shear 10.6 12.3 9.3 12.3 12.2 52.8 20.1 5.4 14.9 8.00 18.56 28.02 8.6 6.3 23.2 5.5 11.2 7.8 10.4 14.314.3 7.0 23.4 2.4 Kilometres 3.0 Kilometres

11. Nogbele Prospect Major Zone Shear Major Zone Shear 4m @ 2.96g/t Au from 75m 11m @ 2.46g/t Au from 48m 4m @ 2.67g/t Au from 60m 16m @ 1.38g/t Au from 101m 6m @ 1.88g/t Au from 18m 6m @ 4.41g/t Au from 88m 9m @ 33.41g/t Au from 32m 4m @ 11.0g/t Au from 10m 2m @ 4.97g/t Au from 100m 7m @ 1.87g/t Au from 22m 1m @ 3.83g/t Au from 8m 7m @ 1.63g/t Au from 17m 4m @ 3.85g/t Au from 60m 3m @ 4.12/t Au from 122m 5m @ 1.95g/t Au from 9m 3m @ 25.02g/t Au from 32m 6m @ 2.18g/t Au from 1m 12m @ 2.27g/t Au from 102m 4m @ 3.42g/t Au from 108m 5m @ 2.75g/t Au from 10m 8m @ 3.14g/t Au from 34m

12. Nogbele Prospect Major Zone Shear Major Zone Shear 12m @ 1.97g/t Au from 44m 11m @ 1.78g/t Au from 4m 13m @ 4.89g/t Au from 19m 12m @ 3.53g/t Au from 110m 25m @ 1.94g/t Au from 2m 3m @ 10.91g/t Au from 42m 21m @ 2.52g/t Au from 13m 10m @ 3.13g/t Au from 9m 2m @ 5.39g/t Au from 26m 8m @ 2.54g/t from 37m 7m @ 14.05g/t Au from 39m 6m @3.51g/t Au from 52m 6m @ 2.82g/t Au from 70m 3m @ 2.72g/t Au from 119m 6m @ 3.62g/t Au from 49m 10m @ 2.49g/t Au from 11m 7m @ 3.49g/t Au from 8m 8m @ 2.60g/t Au from 13m 14m @ 2.07g/t Au from 37m 25m @ 2.58g/t Au from 8m 16m @ 5.60g/t Au from 0m 3m @ 7.82g/t Au from 34m

13. Nogbele Prospect – “OPEN” Major Zone Shear Major Zone Shear 3m @ 1.3g/t Au 1m @ 15.22g/t Au 1m @ 4.91g/t Au 5m @ 2.98g/t Au 4m @ 3.25g/t Au 3m @ 1.15g/t Au 4m @ 1.6g/t Au 4m @ 2.0g/t Au16m @ 3.65g/t Au 4m @ 1.77g/t Au 4m @ 5.22g/t Au2m @ 4.45g/t Au16m @ 2.11g/t Au 28m @ 1.41g/t Au 2m @ 2.56g/t Au6m @ 1.55g/t Au 3m @ 2.67g/t Au 3m @ 2.25g/t Au 2m @ 3.55g/t Au 1m @ 4.28g/t Au

14. 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 22m @ 2.73g/t Au from 4m (BOH) 24m @ 4.60g/t Au from 16m (BOH) 1.4 km 15m @ 2.76g/t Au from 12m (BOH)

15. Banfora Gold Project 1150 kms 2 Area Fourkoura South East Wolloufasso Huro Huro West Nadieleme Fambefesso 600m @ 0.25g/t Au Soil Geochemical Anomaly No Drilling 1000m @ 0.25g/t Au Soil Geochemical Anomaly 2000m Soil Geochemical Anomaly Major Regional Structure No Drilling 3 x 1000m @ 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 900m @ +0.25g/t Au (max 0.65g/t) 550m @ +0.10g/t Au (max 1.09g/t) 2000m @ +0.10g/t Au (max 0.22g/t) 1400m @ +0.10g/t Au (max 1.20g/t) 750m @ +0.10g/t Au (max 1.98gt) To Power, Railway and Major Highway ~30kms Tongon Deposit (3.2Moz) ~ 30kms Syama Deposit (11Moz) ~ 50kms 6.1Mt @ 2.10g/t for 410,000oz gold <100 meters deep Ouahiri Drill Results Include: 4m @ 12.09g/t from surface 7m @ 4.22g/t from 1m 7m @ 3.89g/t from 8m (EOH) 4m @ 4.96g/t from 15m 4m @ 3.88g/t from 8m 8m @ 2.20g/t from surface

16. Gryphon Minerals Timetable Banfora Gold Project: Regional soil geochemical sampling. Shallow resource definition <100m @ Nangolo. Shallow resource definition <100m @ Nogbele. Sulphide nickel JV - Australia: High grade depth potential @ Nogbele. Geophysics, geochem, drilling. Uranium drilling - Australia. Regional RAB drilling.

17. 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.

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