Aurora Gold

completed

The Aurora Gold Project entails the greenfield construction and development of a gold mine in Guyana, about 170 kilometers west of Georgetown. The mine site is connected by a 150 kilometer access road (with a ferry crossing of the Cuyuni River at Tapir) to the Buckhall port on the Essequibo River. The project comprises an open pit and underground gold mine, process plant, tailings management area and other associated facilities. The Buckhall port facility will also be upgraded to accommodate ocean going vessels and will provide facilities for cargo, fuel and personnel handling during project construction and operations. The mine aims to produce 3.3 million ounces of gold over an initial 17 year mine life. Gold production is expected to average 194,000 ounces per year over the life of mine, and average 231,000 ounces per year over the first ten years. Commercial production is expected to commence in 2015. Mining will be phased with initial open pit mining commencing in 2015 (continuing through 2023) with underground mining commencing in 2018 (continuing through 2031). The process plant will also be designed in two phases with an initial capacity of 1.75 million tons per annum and subsequently being expanded to a capacity of 3.5 million tons per annum. The gold will be recovered from the ore using well established technology (carbon-in-leach or “CIL”) and gold doré will be produced on-site and stored in a secure vault prior to being transported offsite. The resulting tailings will be treated prior to disposal into the tailings management area. The project is being implemented by the sponsor, Guyana Goldfields Inc., through a wholly-owned Guyana-registered subsidiary, AGM Inc., which holds the mining license for the project issued by the government in November 2011.Mineral resources that are not mineral reserves do not have demonstrated economic viability. Reference is made to the Company’s technical report entitled “NI 43-101 Technical Report, Updated Feasibility Study, Aurora Gold Project, Guyana South America” dated January 29, 2013 and prepared by Glen Cole, P.Geo., Jarek Jakubec, P.Eng., John Lambert, P.Geo., D. Erik Spiller, MMSA, and Richard Tocher, P.E., each a qualified person within the meaning of National Instrument 43-101.