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Advancing the Corcoesto Gold Project
Corporate Presentation | March 2013

            TSX.V:EDW
Forward Looking Statement
Certain statements in this document constitute “forward looking statements” which may not be
based on historical fact. Such forward looking statements involve known and unknown risk,
uncertainties and other factors which may cause the actual results, performance or achievements
of the Company, or industry results to be materially different from any future results,
performance, or achievements expressed or implied by such forward looking statements. Such
factors include, among others, the following: actual results of exploration and development
activities; the estimation or realization of mineral reserves and resources; the timing and the
amount of future production; the costs and timing of the development of new deposits; future
prices of precious and base metals; accidents; risks inherent in mineral exploration; risks
associated with development, construction and mining operations; restrictions on foreign
ownership; the Company’s history of operating losses and uncertainty of future profitability;
uncertainty of access to additional capital; environmental liability claims and insurance; and
dependence on joint venture partners.


Mr. Gregory Smith, P.Geo, the President and CEO of the Company, is the Qualified Person as
defined by NI 43-101, and is responsible for the accuracy of the technical data and information.

                                                                                                   2
EDW Value Opportunity
100% owned development stage Corcoesto Gold Project NW, Spain (NI 43-101 PEA completed)
             2012 Significant Project Execution
-Assembled an experienced mine-building management team                                            Completed
-+50,000m infill drilling program successful                                                       Completed
    Select Results include: 66m @ 2.00g/t gold, 38.7m @ 1.93g/t gold, 41m @ 1.60g/t gold, 33.5m @ 1.91g/t gold,

                           57.8m @1.09g/t, 13.5m @ 2.57g/t gold, 12.35m @ 3.24g/t gold, 6.85m @ 5.63g/t gold.

-- Initiated Final Feasibility Study                                                               Completed

-Spanish Government advancing Corcoesto as a Strategic Industrial Project                          Completed

- Edgewater signed a $120M debt mandate                                                            Completed


                                   DECEMBER 2012 (EIA - Project Approved)
       MINISTRY OF ENVIRONMENT APPROVES CORCOESTO GOLD PROJECT
        Approval encompasses ALL aspects for mining, processing, tailings and waste disposal
                                                                                                                  3
Corcoesto Gold Project



        Investment Highlights
PRO MINING, STABLE MINING JURISDICTIONS
•       First world, pro mining jurisdiction,
•       Advanced Gold development project
•       All levels of government and local communities supportive
•       Excellent location with all infrastructure in place
•       Full Environmental Impact Statement Approved (Dec 2012)


TEAM AND PARTNERS: Proven, Successful, Experience
    •   Proven management with mine building and production experience
    •   Financial Advisor: Mr. AJ Ali has successfully raise over $1B debt project finance
    •   Featherstone Capital Advisors: have significant success in creating shareholder wealth
    •    Micon International: An internationally recognized leader in the design and engineering of
        feasibility level gold projects world wide.                                                            4
    •   Kinross Gold Corp.: A Canadian-based gold mining company with mines and projects in Brazil,
        Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States.
100% Ownership


    Investment Highlights
ESTABLISHED PROJECTS
CORCOESTO GOLD PROJECT, Galicia NW Spain
•   Nov 2011 Preliminary Economic Assessment (Pre-Tax
    Financial Model*)
       •   NPV 5% $340 Million                                                  51/49 Joint Venture
       •   IRR 34%                                                              Kinross Gold Corp.

       •   PAYBACK yrs 2.5
       •   2012 total NSR royalty on production of 2.5%



ENCHI GOLD PROJECT, GHANA
       •   60 Km south west of Chirano Gold Mine (5M ounces)
       •    Recently announced resource (749,000 ounces gold grading 1.13g/t) using a
           0.70g/t cut-off
                                                                                                                           5
       •   +500sq km land package


                                                                                    *$1500 Au (further details slide 9 and 13)
Edgewater Mine-Building Team
George Salamis, President & CEO, Director
+20 years experience directing exploration, development, and mining operations of a number of gold, base metal and coal
projects, Mr. Salamis has held senior management positions with Placer Dome and Cameco Corporation and has
completed M & A transactions valued over $1B

Greg Smith, P.Geo, Vice President Exploration
+23 years exploration experience working for both junior & senior mining operations and has been involved in outlining
+10Moz gold discovery

Edward Farrauto, CFO
+20 years experience as CFO and Director of public companies, has been involved in raising over $500 million of equity
and debt and completed M & A transactions valued over $750 million

Dr. John Thomas, COO
+38 years experience in the mining industry in several countries. His experience covers a wide range of activities including
process development, feasibility studies, management of construction and operation of mines. Dr. Thomas is a professional
engineer and has a B.Sc., M.Sc., and a PhD in metallurgical processing

Mr. AJ Ali, Project Finance Advisor
Mr. Ali has over 20 years experience in the mining industry and has been involved with over $2B (USD) in M&A and
project financings for global mining projects. Previously Mr. Ali was the Chief Financial Officer and a Director of
Centenario Copper Corporation before its acquisition by Quadra FNX Mining and Chief Financial Officer of EuroZinc          6
Mining Corporation (2004 to 2006) before it merged with Lundin Mining.

Doug Forster, M.Sc. P.Geo, Director
 +30 years resource project development, M&A, equity finance and public company management, Mr. Forster is President
& CEO of Featherstone Capital, he has been Founder and director of several public companies
Edgewater Capital Structure (February 2013)
               Ownership                                                                   Share Structure
     Kinross
   Gold Corp
                                                            Issued & Outstanding                                                 88,794,437
      5%
                                                            Warrants
                            Mgmt &                            6,515,000 @ 1.10 (2013)
                            Insiders                          7,806,500 @ $1.40 (2013)                                           22,784,470
Retail 38%                    19%
                                                              2,436,250 @ $0.50 (2013)*
                                                                  666, 720 @ 0.47 (2015)

                                                            Options                                                                7,335,000

                 Institutional                              Fully Diluted*                                                    118,913,907
                     38%
                                                            Cash                                                                 $5,200,000




                                 •If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on
                                 the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M
                                                                                                                                               7
                                 warrants at $1.00 (included in the fully diluted number above).
                                 *September 24 Edgewater sold a NSR royalty interest on the Corcoesto Gold Project and an
                                 equity component to the same purchaser or the royalty
Corcoesto Gold Project
An autonomous region, all mine permits granted locally at
the municipal and state levels (no federal approvals
required), supportive from all levels of government

Excellent logistics with roads, power and water amenable
to low cost development

PEA demonstrates robust economics with an average of
100k/oz a year gold project with expansion potential*

   2013 Transformational Year Upcoming Milestones

Updated NI 43-101 Resource Estimate – Q2, 2013

Final feasibility study - Q3 2013

Detailed Engineering – Q4 2013

Construction Decision – Q4 2013
                                                                                                        8
Project Finance options underway

                                                            Corcoesto Plant site Drawing

                                                                                    * details slide 9 and 13
Corcoesto Gold Project                                                                        PEA                (Nov 2011)


       6,000 tpd                                                                                          Years 1-10
                                                                                                       (Base Case $US1300/oz)

       Average annual production (Au oz)                                                                     102,000
       Average annual net revenue ($US M)                                                                       60.0
       Metallurgical recovery (%)                                                                               89.1
       Strip Ratio                                                                                             8.0/1
       Average annual net cost ($US/oz)                                                                          713
       Capital cost ($US M) (17.5% Contingency)                                                                 160


       Pre-Tax Financial Model                                             $1300/oz                         $1500/oz                           $1700/oz
       Payback (years)                                                          3.4                              2.5                                2.0
       IRR (%)                                                                   24                              34                                  41
       NPV (5%) (Million)
       Average annual net revenue ($US M)
                                                                                206
                                                                               60.0
                                                                                                                340
                                                                                                                80.3
                                                                                                                                                    446
                                                                                                                                                     96
                                                                                                                                                                              9
Preliminary Economic Assessment NI43-101 Compliant includes inferred mineral resources that are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized
*Slide 13 containing details of the NI43-101 Compliant resource
Corcoesto Gold Project - Design
                                  WASTE ROCK/TAILINGS




                                                        10
Corcoesto Resource Expansion Potential




                                           11
                      Potential Resource
                          below pits
Corcoesto Exploration Upside
                                               Pozo Del Ingles Gold Zone Grade thickness long section
          Corcoesto Gold Project – Plan Map




                                                     Open at Depth
Potential extensions to
structures on strike

                                              Peton de Lobo Gold Zone Grade thickness long section




                                                                                     Current Open pit shell




                                                                                                              12
                     Cova Crea Zone
                     Open at Depth                                Open at Depth
Corcoesto 2011 Resource Estimate
                                                  NI 43-101 Resource Summary
                                                   Cutoff                  Tonnes                        Gold                   Contained Gold
Resource Class                                      (g/t Au)                 (x1000)                      g/t                           (x1000 oz)


Measured                                             0.65                    3,899                        1.77                            222

Indicated                                            0.65                    1,823                       1.69                              103

Measured + Indicated                                 0.65                    5,783                        1.74                            325

Inferred                                          0.65/2.0                  20,265                       1.76                            1,149

 A total of 1,101.9 m of surface trenching in 55 trenches, 443.1 m of adit sampling in 4 adits and 42,326.2 m of diamond and RC drilling in 436 drill holes
 were used in the resource with sample spacing’s that were less than 30 m for Measured resources, less than 40 metres for Indicated resources and less than
 195 m for Inferred resources except for Inferred resources below 200 m from surface and for the northern two vein systems that used drill spacing’s of 196 m
 A base cutoff grade of 0.65 g/t Au was used for reporting resources above a depth of 200 m
 from surface and a cutoff grade of 2.0 g/t Au was used for reporting resources below 200 m from surface
 Mineral Resources that are not mineral reserves do not have economic viability                                                                                 13
       +40,000m of in-fill drilling completed since the above resource estimate. (Focused on conversion
       of Inferred resources to Measured and Indicated). Updated resource estimate Q2, 2013
Enchi Gold Project (SW, Ghana)
  51/49 Joint Venture with Kinross Gold
  (TSX: K)
  Mid-stage exploration comprised of 8
  licenses totaling 568km2
  Locating the next +3-5M ounce gold
  deposit on the Bibiani Shear Zone
  Chirano covers 9km of the Bibiani
  Shear Zone
  Enchi covers 50km over the Bibiani
  Shear Zone
  Trenching and soil sampling underway
  Airborne geophysical survey identified
  +25 new targets
                                           14
Enchi Resource with cut-off Range
                                                 NI 43-101 Resource Summary
                 Cutoff                                                                    Gold
                                                     Tonnes                                                          Contained Gold
                  (g/t Au)                                                                  g/t
                   0.30                           71,241,000                                0.65                          1,489,295
                   0.40                           51,633,000                                0.76                         1,269,739*
                   0.50                           37,278,000                                0.89                          1,063,868
                   0.60                          27,538,000                                 1.01                           892,682
                   0.70                          20,627,000                                 1.13                            749,081
                   0.80                          15,887,000                                 1.24                           635,200
                   0.90                          12,644,000                                 1.35                            546,878

        *West African average cut-off is 0.4g/t which represents +1.2M ounces Gold
  1. CIM definition standards were followed for the resource estimate.
  2. The 2012 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by
                                                                                                                                                     15
  wireframed solids.
  3. A base cutoff grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t.
  4. A density of 2.45 g/cm 3 was applied.
  5. Numbers may not add exactly due to rounding.
  6. Mineral Resources that are not mineral reserves do not have economic viability
Edgewater News Flow & Timeline
                                   2013                                                        2014

    Q1                      Q2                        Q3                        Q4                 Q1


Corcoesto
                     Updated
                     Resource
                     Estimate
                                               Final Feasibility
      Final Feasibility Study                       Study


                                                               Construction
                                 Construction Decision

                                                Detailed Engineering

                                                                      Project
                                   Corcoesto Project Finance          Finance
                                                                                                              16
                                                 Construction Q4 2013 – Q4 2014 Anticipated Production Start
                                                                       Q1 2015

                                              Staffing/Mine Contractor Selection/Socio-economic Initiatives
Contact
Ryan King, Vice-President

604 628 1012
rking@edgewaterx.com
www.edgewaterx.com

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Presentation

  • 1. Advancing the Corcoesto Gold Project Corporate Presentation | March 2013 TSX.V:EDW
  • 2. Forward Looking Statement Certain statements in this document constitute “forward looking statements” which may not be based on historical fact. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: actual results of exploration and development activities; the estimation or realization of mineral reserves and resources; the timing and the amount of future production; the costs and timing of the development of new deposits; future prices of precious and base metals; accidents; risks inherent in mineral exploration; risks associated with development, construction and mining operations; restrictions on foreign ownership; the Company’s history of operating losses and uncertainty of future profitability; uncertainty of access to additional capital; environmental liability claims and insurance; and dependence on joint venture partners. Mr. Gregory Smith, P.Geo, the President and CEO of the Company, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information. 2
  • 3. EDW Value Opportunity 100% owned development stage Corcoesto Gold Project NW, Spain (NI 43-101 PEA completed) 2012 Significant Project Execution -Assembled an experienced mine-building management team Completed -+50,000m infill drilling program successful Completed Select Results include: 66m @ 2.00g/t gold, 38.7m @ 1.93g/t gold, 41m @ 1.60g/t gold, 33.5m @ 1.91g/t gold, 57.8m @1.09g/t, 13.5m @ 2.57g/t gold, 12.35m @ 3.24g/t gold, 6.85m @ 5.63g/t gold. -- Initiated Final Feasibility Study Completed -Spanish Government advancing Corcoesto as a Strategic Industrial Project Completed - Edgewater signed a $120M debt mandate Completed DECEMBER 2012 (EIA - Project Approved) MINISTRY OF ENVIRONMENT APPROVES CORCOESTO GOLD PROJECT Approval encompasses ALL aspects for mining, processing, tailings and waste disposal 3
  • 4. Corcoesto Gold Project Investment Highlights PRO MINING, STABLE MINING JURISDICTIONS • First world, pro mining jurisdiction, • Advanced Gold development project • All levels of government and local communities supportive • Excellent location with all infrastructure in place • Full Environmental Impact Statement Approved (Dec 2012) TEAM AND PARTNERS: Proven, Successful, Experience • Proven management with mine building and production experience • Financial Advisor: Mr. AJ Ali has successfully raise over $1B debt project finance • Featherstone Capital Advisors: have significant success in creating shareholder wealth • Micon International: An internationally recognized leader in the design and engineering of feasibility level gold projects world wide. 4 • Kinross Gold Corp.: A Canadian-based gold mining company with mines and projects in Brazil, Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States.
  • 5. 100% Ownership Investment Highlights ESTABLISHED PROJECTS CORCOESTO GOLD PROJECT, Galicia NW Spain • Nov 2011 Preliminary Economic Assessment (Pre-Tax Financial Model*) • NPV 5% $340 Million 51/49 Joint Venture • IRR 34% Kinross Gold Corp. • PAYBACK yrs 2.5 • 2012 total NSR royalty on production of 2.5% ENCHI GOLD PROJECT, GHANA • 60 Km south west of Chirano Gold Mine (5M ounces) • Recently announced resource (749,000 ounces gold grading 1.13g/t) using a 0.70g/t cut-off 5 • +500sq km land package *$1500 Au (further details slide 9 and 13)
  • 6. Edgewater Mine-Building Team George Salamis, President & CEO, Director +20 years experience directing exploration, development, and mining operations of a number of gold, base metal and coal projects, Mr. Salamis has held senior management positions with Placer Dome and Cameco Corporation and has completed M & A transactions valued over $1B Greg Smith, P.Geo, Vice President Exploration +23 years exploration experience working for both junior & senior mining operations and has been involved in outlining +10Moz gold discovery Edward Farrauto, CFO +20 years experience as CFO and Director of public companies, has been involved in raising over $500 million of equity and debt and completed M & A transactions valued over $750 million Dr. John Thomas, COO +38 years experience in the mining industry in several countries. His experience covers a wide range of activities including process development, feasibility studies, management of construction and operation of mines. Dr. Thomas is a professional engineer and has a B.Sc., M.Sc., and a PhD in metallurgical processing Mr. AJ Ali, Project Finance Advisor Mr. Ali has over 20 years experience in the mining industry and has been involved with over $2B (USD) in M&A and project financings for global mining projects. Previously Mr. Ali was the Chief Financial Officer and a Director of Centenario Copper Corporation before its acquisition by Quadra FNX Mining and Chief Financial Officer of EuroZinc 6 Mining Corporation (2004 to 2006) before it merged with Lundin Mining. Doug Forster, M.Sc. P.Geo, Director +30 years resource project development, M&A, equity finance and public company management, Mr. Forster is President & CEO of Featherstone Capital, he has been Founder and director of several public companies
  • 7. Edgewater Capital Structure (February 2013) Ownership Share Structure Kinross Gold Corp Issued & Outstanding 88,794,437 5% Warrants Mgmt & 6,515,000 @ 1.10 (2013) Insiders 7,806,500 @ $1.40 (2013) 22,784,470 Retail 38% 19% 2,436,250 @ $0.50 (2013)* 666, 720 @ 0.47 (2015) Options 7,335,000 Institutional Fully Diluted* 118,913,907 38% Cash $5,200,000 •If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M 7 warrants at $1.00 (included in the fully diluted number above). *September 24 Edgewater sold a NSR royalty interest on the Corcoesto Gold Project and an equity component to the same purchaser or the royalty
  • 8. Corcoesto Gold Project An autonomous region, all mine permits granted locally at the municipal and state levels (no federal approvals required), supportive from all levels of government Excellent logistics with roads, power and water amenable to low cost development PEA demonstrates robust economics with an average of 100k/oz a year gold project with expansion potential* 2013 Transformational Year Upcoming Milestones Updated NI 43-101 Resource Estimate – Q2, 2013 Final feasibility study - Q3 2013 Detailed Engineering – Q4 2013 Construction Decision – Q4 2013 8 Project Finance options underway Corcoesto Plant site Drawing * details slide 9 and 13
  • 9. Corcoesto Gold Project PEA (Nov 2011) 6,000 tpd Years 1-10 (Base Case $US1300/oz) Average annual production (Au oz) 102,000 Average annual net revenue ($US M) 60.0 Metallurgical recovery (%) 89.1 Strip Ratio 8.0/1 Average annual net cost ($US/oz) 713 Capital cost ($US M) (17.5% Contingency) 160 Pre-Tax Financial Model $1300/oz $1500/oz $1700/oz Payback (years) 3.4 2.5 2.0 IRR (%) 24 34 41 NPV (5%) (Million) Average annual net revenue ($US M) 206 60.0 340 80.3 446 96 9 Preliminary Economic Assessment NI43-101 Compliant includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized *Slide 13 containing details of the NI43-101 Compliant resource
  • 10. Corcoesto Gold Project - Design WASTE ROCK/TAILINGS 10
  • 11. Corcoesto Resource Expansion Potential 11 Potential Resource below pits
  • 12. Corcoesto Exploration Upside Pozo Del Ingles Gold Zone Grade thickness long section Corcoesto Gold Project – Plan Map Open at Depth Potential extensions to structures on strike Peton de Lobo Gold Zone Grade thickness long section Current Open pit shell 12 Cova Crea Zone Open at Depth Open at Depth
  • 13. Corcoesto 2011 Resource Estimate NI 43-101 Resource Summary Cutoff Tonnes Gold Contained Gold Resource Class (g/t Au) (x1000) g/t (x1000 oz) Measured 0.65 3,899 1.77 222 Indicated 0.65 1,823 1.69 103 Measured + Indicated 0.65 5,783 1.74 325 Inferred 0.65/2.0 20,265 1.76 1,149 A total of 1,101.9 m of surface trenching in 55 trenches, 443.1 m of adit sampling in 4 adits and 42,326.2 m of diamond and RC drilling in 436 drill holes were used in the resource with sample spacing’s that were less than 30 m for Measured resources, less than 40 metres for Indicated resources and less than 195 m for Inferred resources except for Inferred resources below 200 m from surface and for the northern two vein systems that used drill spacing’s of 196 m A base cutoff grade of 0.65 g/t Au was used for reporting resources above a depth of 200 m from surface and a cutoff grade of 2.0 g/t Au was used for reporting resources below 200 m from surface Mineral Resources that are not mineral reserves do not have economic viability 13 +40,000m of in-fill drilling completed since the above resource estimate. (Focused on conversion of Inferred resources to Measured and Indicated). Updated resource estimate Q2, 2013
  • 14. Enchi Gold Project (SW, Ghana) 51/49 Joint Venture with Kinross Gold (TSX: K) Mid-stage exploration comprised of 8 licenses totaling 568km2 Locating the next +3-5M ounce gold deposit on the Bibiani Shear Zone Chirano covers 9km of the Bibiani Shear Zone Enchi covers 50km over the Bibiani Shear Zone Trenching and soil sampling underway Airborne geophysical survey identified +25 new targets 14
  • 15. Enchi Resource with cut-off Range NI 43-101 Resource Summary Cutoff Gold Tonnes Contained Gold (g/t Au) g/t 0.30 71,241,000 0.65 1,489,295 0.40 51,633,000 0.76 1,269,739* 0.50 37,278,000 0.89 1,063,868 0.60 27,538,000 1.01 892,682 0.70 20,627,000 1.13 749,081 0.80 15,887,000 1.24 635,200 0.90 12,644,000 1.35 546,878 *West African average cut-off is 0.4g/t which represents +1.2M ounces Gold 1. CIM definition standards were followed for the resource estimate. 2. The 2012 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by 15 wireframed solids. 3. A base cutoff grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t. 4. A density of 2.45 g/cm 3 was applied. 5. Numbers may not add exactly due to rounding. 6. Mineral Resources that are not mineral reserves do not have economic viability
  • 16. Edgewater News Flow & Timeline 2013 2014 Q1 Q2 Q3 Q4 Q1 Corcoesto Updated Resource Estimate Final Feasibility Final Feasibility Study Study Construction Construction Decision Detailed Engineering Project Corcoesto Project Finance Finance 16 Construction Q4 2013 – Q4 2014 Anticipated Production Start Q1 2015 Staffing/Mine Contractor Selection/Socio-economic Initiatives
  • 17. Contact Ryan King, Vice-President 604 628 1012 rking@edgewaterx.com www.edgewaterx.com