San Gold presentation

Hinge zone developed in 2010, new discoveries in L13, cohiba, 007, emperor

Low power costs, mill on site, excellent infrastructure

Same greenstone belt as red lake. Similar geology

Seven high grade discoveries in 5 years

Refined geolgical model expected to lead to additional discoveries

L10, 007 and emperor zones expected to join - extend strike to 1200m -

may be analogous to main rice lake horizon - excellent continuity and grades

All zones open at depth - excellent potential to push zones much deeper

High component of free gold - inexpensive processing, high recoveries

Looking to expand throughput in 2011 to 1250 tpd, develop 007 zone, begin

development of L13

85k oz of production expected this year

Planning to drive expl drifts on 3 levels to explore depth extension of high grade

zones

L10 zone (immediately beneath Hinge) coming in at 16 g/t