IPO Presentation 2012 May 2012

Disclaimer The information contained in this document (Presentation) has been prepared by A1 Consolidated Gold Ltd (Company) for the

purposes of presenting to AFSL licensees and their representatives and therefore comes within the confines of ASIC CO 00/175. This

Presentation does not constitute an offer or invitation to any person to subscribe for or apply for any securities in the Company. This

Presentation is solely a presentation of the Company’s exploration plans and proposed capital structure for our upcoming IPO. We

reserve the right at any stage to change or alter the capital structure and exploration plan without notice.

While the information contained in this Presentation has been prepared in good faith, neither the Company or any of its shareholders,

directors, officers, agents, employees or advisers give any representations or warranties (express or limited) as to the accuracy,

reliability or completeness of the information in this Presentation, or of any other written or oral information made or to be made

available to any interested party or its advisers (all such information being referred to as 'Information') and liability therefore is expressly

disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents,

employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or limited, contractual,

tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in

this Presentation or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company

to proceed with any inaccuracies in, or omissions from, this Presentation which may become apparent. The Company reserves its right

to terminate any discussions or negotiations with any person. In no circumstances will the Company be responsible for any costs,

losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the

Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update

this Presentation or to correct any errors.

This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors,

officers, agents, employees or advisers. In particular, any estimates or projections or opinions contained in this Presentation

necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in

relations to such matters.

Competent Persons Statement The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Resources is based on information

compiled by Morrie Goodz who is a Fellow of The Australasian Institute of Mining and Metallurgy. Morrie Goodz is a Director of the

company (A1 Consolidated Gold Limited).

Morrie Goodz has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to

the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for

Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Morrie Goodz has specific experience working underground

in the A1 Gold Mine for over 5 years and in various underground mines within a 15km distance over a period of 12 years. Morrie Goodz

consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Introduction

A1 Consolidated Gold Limited (provisional ASX code AYC) is seeking to become a listed gold

producer focused on production at its 100% owned A1 Gold Mine in Victoria.

Advanced project on granted mining lease - fully operational mine site including underground

development and site infrastructure.

JORC exploration target of between 0.6m to 2.9m oz contained gold derived from historical

drilling1 which includes some 77 intercepts grading > 8g/t au

Currently undertaking office studies for purpose of converting to JORC Resource

Toll treatment agreement with Octagonal Resources (ASX:ORS) executed Feb 2012.

Trucking commenced 27 Feb 2012 with treatment to commence in June 2012

Expected cash cost circa $600/oz based on mid-point JORC exploration target

Board & management team > 150 years combined experience

Raising min. of $8 million at $0.30 to capitalise the Company at $42m with $10m cash.

Board and Management Team

Ashok Parekh BBUS FCA, AIMM, FTIA

Non-Executive Chairman

Mr. Ashok Parekh is a chartered accountant who

has operated an Accounting Practice for 25 years.

He was awarded the Centenary Medal in 2003 and

was recently awarded the Meritorious Service Award

by the Institute of Chartered Accountants.

Mr. Parekh is the Executive Chairman of

MacPhersons Reward Gold Ltd (ASX: MRP).

Dennis Clark Cert Mine Manager (Vic)

Managing Director Mr. Dennis Clark has 38 years’ experience in

underground mining, with extensive knowledge of

mine development.

Mr. Clark has been the driving force behind the re-

development of the A1 Gold Mine and is intimately

familiar with the mine workings and geology.

Darren Russell-Croucher

Director of Mining Mr. Darren Russell-Croucher has over 20 years’

experience in the exploration, construction and

development of gold projects.

He has been involved in the management teams of

gold projects in Victoria and Western Australia,

taking the projects from the construction phase

through to production.

Morrie Goodz MSc (Mining Geol), MBA, FAusIMM

Non-Executive Director

Jeff Williams MSc (Mining Eng), MBA, FAusIMM

Non-Executive Director

Glenn Wardle Non-Executive Director

Emma Walczak LLB, BICT Business Intelligence Major

Company Secretary

Project Location

Located approx 120 km north east of

Melbourne in the Woods Point - Walhalla

Dyke corridor

Projects* consist of:

• A1 Gold Mine ( MIN5294);

• Ten Mile Goldfield (EL5109); and

• Star of the West (MIN4636)

The A1 Mine is the second largest gold

producer in the region having produced >

600,000 ozs up to 1992.

* Completion of the acquisition of the Projects will

occur upon the Company’s admission to the ASX.

A1 Gold Mine (MIN5294)

Diorite dyke hosted gold mineralisation

Tenement covers entire known A1 Dyke

corridor.

Historical gold production of circa

620,000 oz at an average grade of 32 g/t

Dyke outcrops for >1000m in strike

length

Only 150m of strike tested to date

A1 Dyke Corridor

Area of Historical Production :

150 metre strike length

1400

Stockworks

A1 Gold Mine Project

Potential of the 1400 Stockworks was

first recognised in early 1980’s

Bulk sample from a 1982 development

on the 1400 Level had a recovered grade

of 10 g/t au

Two parallel rises (inclined development)

from the 1330 level to 1400 Level in

1987 obtained a recovered grade of 17

g/t au

High grade results in 1987 were followed

by a radial drilling program in 1989-90

Underground drilling program in 2010-11

defined the 1400 Stockworks as a bulk

mining target.

Stockworks

Reef

1650 & 1625

Stockworks

1400

Stockworks

Drilling 1400 Level 2010 - 2011

JORC exploration target of up to

460,000oz Au from the 1400 level:

• 1.0 – 1.3mt at 5 –11 g/t Au(1)

First target (Block Based on historical

drilling which includes 77 intercepts of >

8g/t Au

Best intersections include

• 19.2m @ 15.4 g/t;

• 26.6m @ 10.1 g/t

• 6.95m @ 30.5 g/t

Drill Intersections 2010 - 2011

Hole No MGA

East (m) MGA

North (m) RL (m) Hole Dip

L7_0001A 42’653.06 42’653.06

26 456

L7_00012A 26’956.003 26’956.003 48 876

L7_0001B 35’956 35’956 591 1315

L7_0001C 15’606.05 15’606.05 536 5646

L8_0001Q 42’653.06 42’653.06 125 486

L9_0005B 42’653.06 42’653.06 02 023

1400 Stockworks

Focus is on reaching the 1400

Stockworks (Blocks 1-4 & 6).

Decline development currently at the

1620 level with a further 1500m required

to bring the 1400 Stockworks into

production. Lateral development of

~500m will be also required.

Currently averaging approx. 100 metres

of development per month

First target (Block 1) will be reached at

the 1450 level July 2013 (15 months

from IPO)

Expect to increase rate of mining to up to

3000t per week once 1450 level is

reached (150,000tpa) (1) References to exploration target size and target mineralisation in this

report are conceptual in nature and should not be construed as indicating the

existence of a JORC Code compliant mineral resource. There is insufficient

information to establish whether further development and exploration will

result in the determination of a mineral resource within the meaning of the

JORC Code.

Established Operation

Since 2008 $17 million has been spent

achieving:

Consolidation of mining & exploration

tenement position

Fully operational mine site and

infrastructure

Significant decline development –

currently at the 1620 Level

Mining of the 1650 and 1625 Stock

works – approx. 5000t currently

stockpiled on site

Off–site treatment agreement reached

with Octagonal Resources Limited

(ASX:ORS)

Trucking commenced on 27 February

2012 at a rate of 1,000 t per week

Portal A1 Gold Mine August 2011

Mine Development

The underground decline ramp being developed –

focus is on accessing the 1400 Level Stockworks

Currently averaging approx. 100 metres

development per month – expected to reach 1450

level July 2013.

Lateral development at the 1650 Level has been

completed and is ready for production mining.

Development of the1625 Level is ongoing, currently

at 120m strike length.

The path of the decline ramp has been designed to

allow for production mining from the 1650 and 1625

Stockworks

JORC exploration target of 70,000 to 100,000

tonnes at 5 – 11 g/t Au (IGR) at the 1650 Level

Recent bulk sample metallurgical test-work has

returned an average headgrade of 8.4 g/t Au

Current development

Drawing is not to scale and for illustration purposes only

Design Development

Site Infrastructure

Upon IPO completion will have 100%

ownership of all site infrastructure, plant

and equipment.

Surface Infrastructure includes:

Administration office and first-aid facility

State grid power, phone, internet and

mine-radio system

Drill core and sample preparation facility

Heavy equipment workshop, fuel and oil

storage

Surface Infrastructure A1 Gold Mine looking south October 2011

Equipped to Mine

The company is fully equipped to

undertake mine development. Plant and

machinery owned by the company

includes*:

Jumbo Development Drills

Underground LHD Loaders

Articulated Dump Trucks

Service Loader

Light Vehicles

New Diamond Drill

*Upon IPO completion

1650 Development A1 Gold Mine August 2011

Mining Strategy 2012

1650 and 1625 Stock works currently

being mined

5,000t currently stockpiled on site. Mining

at 1000 tonnes per week

Off–site treatment agreement reached

with Octagonal Resources Limited

(ASX:ORS)

Haulage commenced 27 February 2012

and expect to treat approx. 1000t per

week

Potential low cost of production – bulk

sample average head grade of 8.4 g/t

indicates cash cost < $600/oz

Estimated Cash Cost per Ounce

Grade Tonnes/oz Production Cost/oz

g/t t $ $

4.0 7.8 $155 $1,205.28

5.0 6.2 $155 $ 964.22

6.0 5.2 $155 $ 803.52

7.0 4.4 $155 $ 688.73

8.0 3.9 $155 $ 602.64

9.0 3.5 $155 $ 535.68

10.0 3.1 $155 $ 482.11

11.0 2.8 $155 $ 438.28

12.0 2.6 $155 $ 401.76

(1) References to exploration target size and target mineralisation in this report are conceptual in nature and should not be construed as indicating the existence of a JORC Code

compliant mineral resource. There is insufficient information to establish whether further development and exploration will result in the determination of a mineral resource within the

meaning of the JORC Code.

Exploration Targets

Mineralisation

Area

Tonnage

Range

(t)

Grade

Range

g/t

Contained Oz

Range

(oz)*

Comments

From To From To From To

Upper 1400

Stockworks

Lower 1400

Stockworks

Northern Extension

1650 Stockworks

1,000,000

800,000

4,000,000

70,000

1,300,000

1,000,000

6,000,000

100,000

5.0

3.0

3.0

5.0

11.0

9.0

11.0

11.0

160,000

77,000

385,000

11,000

460,000

290,000

2,100,000

35,000

Mining July 2013

Exploration 2013-

2014

Exploration 2014

Current Work

Total 633,000 2,885,000

0.6 to 2.9mozs contained gold in JORC exploration target(1)

Maiden JORC resource expected end Q2 2012 (from upper 1400 Stockworks)

(1) References to exploration target size and target mineralisation in this report are conceptual in nature and should not be construed as indicating the existence of a JORC Code

compliant mineral resource. There is insufficient information to establish whether further development and exploration will result in the determination of a mineral resource within the

meaning of the JORC Code.

Exploration Potential A1 Gold Mine – Northern Extension

1400 m of diamond drilling completed to

date

Drilling confirms:

• Dyke Corridor extends >400m north

• Mineralised Dyke still ~20m wide

• Reef material at 9.7 g/t gold Au

JORC Exploration Target:

• 4 to 6 million tonnes with a grade

range of 3 – 11 g/t Au(1)

Potential to contain up to 2.1moz Au

based on JORC exploration target

(1) References to exploration target size and target mineralisation in this report are conceptual in nature and should not be construed as indicating the existence of a JORC Code

compliant mineral resource. There is insufficient information to establish whether further development and exploration will result in the determination of a mineral resource within the

meaning of the JORC Code.

Exploration Potential A1 Gold Mine – Southern Extension

Southern Dyke Extension:

• Underground drill platform is ready;

• target area 400m strike and up to

30m wide.

Western Dyke – Identified in 2008 from

drilling that confirmed:

• Dyke is mineralised

• Existence of multiple dykes

• Potential to add resource ounces

2012 Development Strategy

Commence processing from 1650

and 1625 Stockworks at 50,000 tpa

Continue mining at a rate of 1000t per

week

Continue decline development to

access and mine the high grade 1400

Level

Undertake mine definition drilling to

explore extensions to the known

stockwork zones.

First truck being loaded from stockpiles on site 27 February 2012

(1) References to exploration target size and target mineralisation in this report are conceptual in nature and should not be construed as indicating the existence of a JORC Code

compliant mineral resource. There is insufficient information to establish whether further development and exploration will result in the determination of a mineral resource within the

meaning of the JORC Code.

IPO Details A1 to raise $8m of new equity through the issue of 26.67m shares at $0.30/share.

Capacity to accept oversubscriptions for an additional $2 million.

$8 million of pre commitments in place

Market capitalisation at minimum subscription $41.3m (at $0.30)

Indicative capital structure upon completion of IPO assuming minimum subscription:

Shares (M) Options (M) $ Raised (M) Valuation

based on IPO Price

Ownership (%)

Currently on issue

55.2 26.6 $9.7 16.5 40.0

Vendor Shares to be

Issued 56.0 26.6 0 16.8 40.6

IPO 26.6 0 *8.0 8 19.3

TOTAL 137.8 26.6 17.7 41.3 100

*The Company has issued 20 million Unlisted Management Options exercisable at $0.40 with an expiry date of 31

December 2014. The Company also has 6.6 million unlisted options on issue exercisable at $0.40 on or before March

2014.

Escrow:

Approximately 78.8m shares expected to be escrowed for 24 months from date of listing

Further 6.3 million shares (mostly issued at $0.15) are expected to be escrowed for 12 months from date of issue and be

released in batches June, August, September, December 2012 and February 2013.

Of the remaining shares issued pre IPO 13.3 million have been issued at $0.30 (December 2011)

Approximately 24 million Pre IPO shares tradeable day 1 (majority issued at $0.15 and $0.30 to investors introduced by the

Board and management)

Use of Funds The funds raised under the IPO offer will be used as follows:

Full Subscription ($M) Oversubscription ($M)

Current Cash 2.8 2.8

Total Raised in the IPO 8.0 10.0

Less Costs (0.8) (0.9)

TOTAL FUNDS AVAILABLE 10.0 11.9

USE OF FUNDS

Decline and Mine Development 6.1 7.5

Mine Definition and Exploration

1.1 1.6

Regional Exploration 0.4 0.4

Administration and Working Capital Costs

2.4 2.4

TOTAL 10.0 11.9

Indicative Timetable

Date 2012

Prospectus Lodged 3 April

IPO Offer Open to Public 11 April

IPO Offer closes 29 May

Despatch of Holding Statements Week 1 June 2012

Expected Date of Listing on ASX Week 2 June 2012

Summary

Upon IPO completion the Company will have $10m cash, no debt and no plans to have

debt

JORC exploration targets(1) of 0.6 to 2.9moz Au

All on site infrastructure and mining equipment in place

Currently mining at ~1000 tonne per week and stockpiling on site

Toll treatment agreement with Octagonal Resources in place

Trucking commenced 27 February 2012 – Processing expected to commence June

2012

Potential low cost producer - $600/oz estimated cash cost of production based on the

mid point of the grade range in JORC exploration target

Mining rate expected to significantly increase once 1400 Stockworks are reached

Highly experienced Board, management and technical team

A determination to keep labor costs low with small on site team

(1) References to exploration target size and target mineralisation in this report are conceptual in nature and should not be construed as indicating the existence of a JORC Code

compliant mineral resource. There is insufficient information to establish whether further development and exploration will result in the determination of a mineral resource within the

meaning of the JORC Code.

Moon Reef: No 18 Level, A1 Gold Mine www.a1consolidated.com.au