Slide1: KENTOR GOLD LTD ACN 082 658 080 Strategic exploration play in the Kyrgyz Tien Shan


Important Notice: Important Notice A Prospectus dated 31 January 2005 was lodged on that day with the Australian Securities and Investments Commission (“ASIC”). The Company has applied to the Australian Stock Exchange Limited (“the ASX”) for admission to the official list of the ASX and permission for the Shares to be listed for quotation on the ASX. This presentation does not constitute and offer in any place in which, or to any person to whom, it would not be lawful to make an offer. No action has been taken to register or qualify the shares in Kentor Gold Ltd or to otherwise permit a public offer of shares in any jurisdiction outside Australia.


Kentor – the Company: Kentor – the Company Kentor Gold Ltd – a gold explorer and project generator, operated in the Kyrgyz Republic since 1998 Kentor is focused on the Tien Shan of Central Asia – a region now emerging as a world-class gold belt that has the potential to deliver multi-million ounce, low-cost deposits Large tenement holding of 3,675 km² granted tenements, including the strategic Ertash license surrounding the Centerra owned Kumtor Gold Mine (+12Moz) Exploration to date has generated gold targets ready to drill


Slide4: KENTOR GOLD LTD WORLD-CLASS GOLD BELTS Best under-explored gold belts Exploration Expenditure 1999-2002 $70m <$30m* $310m (Fraser Institute - January 2004) * Kentor Estimate Top 20 gold producers KYRGYZSTAN


Slide5: KENTOR GOLD LTD


The Kyrgyz Republic: The Kyrgyz Republic Kentor is an enthusiastic investor in the Kyrgyz Republic and is encouraged by: Prospective geology Positive move by Government to support foreign investment Proposed favourable tax changes to encourage mining investment Proposed favourable changes to the Mining Law which has many features of Australian & Canadian Mining Law The important role mining plays in the economy The fact that Kumtor Mine has operated uninterrupted for 7 years The pool of well educated Kyrgyz professionals Good access to land


Operating Structure: Operating Structure CJSC Kentor holds licenses & manages activities in the Kyrgyz Republic Owned 80% Kentor Gold Ltd, 20% Kyrgyz Geophysical Expedition (“KGE” – a state organisation) KGE - preferred contractor for field operations Permanent staff of 6 in Bishkek – up to 60 contractors employed during summer


Slide8: Kentor Tenements


Slide9: Intrusion Related Au Orogenic Sediment Hosted Au Porphyry Au-Cu Target Deposit Types


Ertash – Strategic Tenement: Ertash – Strategic Tenement


Slide11: Gold Targets – ready to drill


The string of gold beads: The string of gold beads Kumtor Panorama looking south KUMTOR MINE South West Deposit BORDOO PROSPECT Akbel - Kentor Prospect ERTASH TENEMENT SARYTOR PROSPECT KUMTOR MINE South West Deposit BORDOO PROSPECT Akbel - Kentor Prospect SARYTOR PROSPECT 12M oz


Project Generation: Project Generation Applying high technology exploration in data-rich environment – lacking modern interpretation By integrating ASTER satellite mineral mapping with proprietary GIS database RESULT - new targets identified and tenement applications lodged Systematic field follow up planned using proven innovative geochemistry (MMI + BLEG) to confirm drill targets Exploration budget for 2005 – A$2.6 million


Opportunity: Opportunity Kentor has: Gold projects – demonstrated excellent discovery potential for world-class deposits Ertash – strategic land package on Kumtor Trend People Strength of Management & Board enthusiastic & successful technical team Extensive & usable proprietary database Excellent partner and preferred contractor - KGE


Slide15: KENTOR GOLD LTD