THE VALUE IN KINBAURI

GOLD/COPPER RESOURCES IN NORTHERN SPAIN

• M.I.&I: 2.2 MILLION OUNCES OF GOLD: 157 MILLION POUNDS OF COPPER
• TARGET PRODUCTION OF 145,000 OUNCES GOLD EQ (125,000 OUNCES GOLD) PER YEAR

INFRASTRUCTURE AT EL VALLE AND CARLES MINES

• 2000 TONS PER DAY MILL AND TAILINGS POND
• MODERN ASSAY LABORATORY AND RELATED FACILITIES
• 6.5 KM UNDEGROUND WORKINGS FOR EASY ACCESS TO TARGETED ZONES
• ESTIMATED REPLACEMENT VALUE $100M

DEVELOPMENT PLANS

• 2008: 23,000 METRE INFILL DRILL PROGRAM: FEASABILITY STUDY BY NOVEMBER
• 2009 PRE-PRODUCTION DEVELOPMENT: 2010 FULL PRODUCTION

DIVERSIFIED NORTH AMERICAN PROPERTIES

• GOLD AT KIRKLAND LAKE, ONTARIO: GOLD AT AZTEC AND KYLA, NEVADA
• PLATINUM/PALLADIUM AND DIAMONDS IN QUEBEC
• STRATEGY: JOINT VENTURE DEVELOPMENT

EXPERIENCED MANAGEMENT

• KINBAURI GOLD CORP. (CANADA): KINBAURI ESPANA S.L. (SPAIN)

CAPITAL STRUCTURE

• 44.4 MILLION SHARES OUTSTANDING: 69.7 MILLION SHARES FULLY DILUTED
• INSIDERS HOLD 34 PER CENT: INSTITUTIONS HOLD 30 PER CENT

Analyst’s Report Available On Request