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AFRICA RESOURCES
INVESTMENT CONGRESS
       Copper exploration in Oman and Turkey
       Dr Peter Ruxton – President & CEO, Gentor Resources




 IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY, 12 JUNE 2012
 www.ObjectiveCapitalConferences.com
                                                             1
Gentor
Resources
Copper in Oman & Turkey

        May 2012




           VMS & Base Metal Exploration &
                    Development
                          Oman
                          Turkey


                                            2
Disclaimer
Forward-Looking Statements: This presentation contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to exploration results, potential
mineral resources, potential mineralization and the Company's plans with respect to the exploration of its Oman properties) are forward-looking statements. These forward-looking
statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a
number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such
actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the
Company's expectations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, changes in commodity prices, foreign
currency fluctuations, political developments in Oman, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals,
the uncertainties involved in interpreting geological data and the other risks involved in the resource exploration business. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such information due to the inherent
uncertainty therein.
The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a
company can economically and legally extract or produce. U.S. investors are cautioned not to assume that any disclosure of mineralization contained in this presentation is
economically or legally mineable. U.S. investors are urged to closely consider all of the disclosures in the Company's reports filed pursuant to the United States Securities
Exchange Act of 1934 which may be secured from the Company, or from the SEC's website at http://www.sec.gov/edgar.html.


Qualified Person
The technical information included in this presentation has been reviewed and approved by Peter A. Ruxton, who is the Company's President and Chief Executive Officer and a
"qualified person" as such term is defined in National Instrument 43-101.


Technical Report
Additional information with respect to the Company's Omani properties is contained in the technical report prepared by Venmyn Rand (Pty) Ltd, dated December 31, 2010 and
entitled "National Instrument 43-101 Independent Technical Report on Block 5 and Block 6 Copper Projects, Semail Ophiolite Belt, Sultanate of Oman held by Gentor Resources,
Inc." A copy of this report can be obtained from SEDAR at www.sedar.com.




                                                                                                                                                                                       3
Gentor Copper – Corporate Summary
•   Global VMS base metal & copper expertise

•   Targeting highly profitable, low cost, copper/gold operations

•   Accelerated discovery and development opportunity – low geological risk

•   Exploration in Oman & Turkey

•   Oman - highly profitable, low cost
       Clusters of numerous 1Mt -15Mt deposits typical – 2 discoveries made so far
       Open cut resources - low waste: ore ratios - metallurgically simple
       Low personnel & fuel costs – excellent infrastructure

•   Turkey – large VMS deposits mined – “elephant country”
       Established mining culture – reformed Mining Code – attractive environment
       Mineral-rich country – under-explored for VMS & base metals

                                                                                      4
Gentor Resources Inc. – Corporate Overview
Head Office               Toronto, Canada

Listing                   TSX-V (GNT) + OTCBQ US (GNTOF)

Securities Issued         Shares – 62.8 million (Jun. 2012)

                          Warrants/Options – 8.37 million
                                                 GENTOR RESOURCES SHAREHOLDERS
                                                                      Shares            %
Share Price         CAD$0.30/sh                  Galena                 6.7        10.6%
                          (May 28th 2012)        Blackrock              5.3         8.5%
                                                 Geologic               4.0         6.4%
                                                 CQS                    1.0         1.6%
Cash                      ~US$5.0 million        Al Fairuz Brothers     2.5         4.0%
                                                 Management            16.0        25.5%
                                                                        35.5        56.6%
Market Capitalisation     CAD$19.0 million       TOTAL                 62.8 million shares


                                                                                        5
Gentor – Board & Management
Board
•   Simon Village (Non-Executive Chairman)
•   Arnold Kondrat (Executive Vice-President)
     (Canadian/US group behind Banro Corporation & Loncor)
•    Rudolph de Bruin (Non-Executive)
•    David Twist (Non-Executive)
     (South African group behind Platmin, Sephaku, African Nickel, Taung Gold & APM)
•    Peter Ruxton (President & CEO – Board & Management)

Exploration Management
•   Bob Close (Business Development Manager – Oman-based)
•   Eugene Iliescu (MD – Oman – Oman-based)
•   Omer Celenk (MD – Turkey – Turkey-based)
•   Partha V (Director – Finance & Administration – Oman-based)
•   Andrew McCarthy (Exploration Manager – Oman-based)

                                                                                       6
Tethyan Metallogenic Belt - Oman & Turkey




                                            7
Oman Ophiolite – Exploration Blocks

             Mawarid

                           Block 6


Lasail




    Yanqul
50 km
  50 km


 Copper Deposits
  Copper Deposits
 Copper Smelter Complex
  Copper Smelter Complex



                                         8
Heli-borne VTEM Survey Results




                                 9
Tethyan Fold Belt (Orogeny) – 90-100Myrs – Trans-European

                                                            10
Mahab 4 Drill Results Summary (to January 2012)
 Hole No.       From      To     Mineralisation    Intercept   Copper   Gold     Zinc     Silver
 Mahab 4         m        m                           m          %       gt      %        g/t


 GRB5D020      40.15    55.55   MS                  15.40      7.40     0.17    0.91      7.90
 GRB5D030      32.05    63.00   MS + SMS + QVS      30.95      3.16     0.28    1.29      17.40
 GRB5D032      67.15    87.45   Jasper + MS         20.30      5.79     0.37    2.42      22.00
 GRB5D035      44.42   98.61    MS + SMS + QVS      54.19      4.97     0.19    0.85      9.60
 B5MB4D059     33.50   43.69    MS                  10.19      6.69     0.48    3.20      20.00
 B5MB4D064     13.50    53.00   GOS/MS/SMS          39.50      4.81     0.25    0.38      16.70
 B5MB4D070     12.42   36.46    MS                  24.04      6.32     0.49    1.10      24.2
 B5MB4D071     63.15   120.00   MS + SMS            56.85      6.21     0.22    0.90      10.4
 B5MB4D074     70.35   105.44   MS                  35.09      4.82     0.38    17.70     0.85
 B5MB4D083     45,15    88.44   MS + SMS + QVS      43.29      3.62     0.24    0.90      11.8
Codes (Umber = Fe sediment, Jasper, MS = Massive Sulphide, SMS = Semi-massive Sulphide,
QVS = Quartz Vein Stringer, GOS = Gossan)

                                                                                                   11
Mahab 4 – Geology & Cross Sections

                           4          25m-50m spaced drill sections
        N
                                      330m long massive sulphide
                                      Thick massive sulphide wedge
                                      Open pittable depth (30-40m)

    4
                                                        3
3

2

1




                                                                      12
Mahab 4 – Long Section




                         13
Gentor - Regional Copper Play




                                14
Maqail South Prospect
Maqail South Drill Results Summary (to December 2011)
Hole No.        From        To      Mineralisation   Intercept   Copper   Gold     Zinc   Silver
Maqail South      m         m                           m          %      gt       %      g/t


   GRB5D0023    68.02      74.27    MS                 6.25       3.30    0.16     0.02   2.69
   GRB5D0024    63.71      70.39    MS                 6.68       7.42    0.29     0.03   4.95
    GRB5D031    43.86      57.46    MS                13.60       3.22    0.08     0.02   0.76
Codes (MS = Massive Sulphide, SMS = Semi-Massive Sulphide, QVS = Quartz Vein Stringer)




                                                                                                   15
Maqail South – Geology & Cross Section




                                         16
TURKEY – VMS Copper Deposits




                               17
ERZURUM – Hacimeter Project




50 km



 Copper Deposits

 Copper Smelter Complex




                                      18
HACIMETER – Topography & Mineralisation




                                          19
HACIMETER – Geology & Copper-in-Streams




                                          20
HACIMETER – Gossans & Besler Drilling

           Proposed TEM Survey Outline




                  Target Area


                        Gossan Zone




        500m


                                         21
HACIMETER – IP Chargeability & Targets




                                         22
HACIMETER – IP Resistivity & Targets




                                       23
Gentor Resources – VMS Copper Focus

•   VMS & Base Metal exploration expertise

•   Oman - ~1,500km2 of prospective ophiolite in 500km prospective belt (‘first
    mover’ advantage) - along strike from operating VMS copper mines


•   Turkey – Besler Option & JV 70:30 – Hacimeter drill-ready targets –
    large VMS deposits – “elephant country”

•   Potential for accelerated discovery using modern techniques (eg VTEM)

•   Excellent infrastructure (access, power, communication, water)

•   Low cost – highly profitable mining environments

                                                                                  24
APPENDICES




             25
Gentor Copper - Omani Agreements

Blocks 5 & 6
•   Block 5 – Equity holding 40% in Al Fairuz Mining LLC - right to earn-in to 65%
    by funding to completion of BFS
    Omani Partner - Al Fairuz brothers – Heavy Earthmoving Equipment/   Construction/Cannery/
    Boats - 4% shareholder in Gentor Resources

•   Block 6 – Equity holding 20% in Al Zuhra Mining LLC – right to earn-in to 70%
    by funding to completion of BFS
    Omani Partner – Sheikh Ahmed Fahrid – owner of some 21 Companies in Oman including
    Construction/Telecoms/Tourism/Hotels etc

•   Capital Return Agreements – Gentor to re-coup 100% of exploration, feasibility
    & development costs on commencement of mining (on a formula) before
    dividends split on equity share


                                                                                         26
Gentor Copper - Turkish Agreement

Hacimeter Option & 70:30 Joint Venture
•   Besler Group – Mining Chromite & Dimension Stone in Hacimeter region

•   “Option Period” – 12 months – US$200,000 (on-signature) – Gentor to explore drill-
    ready targets at Hacimeter + follow-up broader geology & stream anomaly
•   “Feasibility Period” – 36 months – US$400,000 (on-transfer) – 70:30 JV - Gentor to
    complete a BFS - + 2x US$300,000 payments (on-24 & 36 months)
•   “Development Period” – Gentor to fund but can recoup all exploration/
    feasibility & development dollars (less US$3.2m)

•   Besler & Turkish partner defined IP chargeability targets
•   Drilling identified a zone of ~1Mt at ~1.0% copper in VMS stringer
•   Zone of Influence around Hacimeter – covers ophiolite terrain

                                                                                 27
OMCO – Lasail Complex
Lasail Cluster Mine
•   1973 – Lasail, Aarja & Bayda deposits discovered by
    Prospection
•   Projects purchased by Oman government – assets held
    under OMCO
•   Concentrator, smelter & refinery complex built
•   Reserve of approx. 10Mt @ 1.5% Cu defined
•   1983-1994 – Mining of the Lasail Cluster
•   1994 - mine closed on lower copper prices
•   Concentrate imported to continue Lasail smelter
    operation

•   2005 – Mawarid purchased the concentrator @ Lasail
    (OMCO continue to operate the smelter & refinery)
•   Mawarid under contract to supply at least 30% of
    concentrate to OMCO



                                                          28
Yanqul – OMCO (Oman Government)
Yanqul Project
•   1974 – Discovered by Prospection (Canadian)
•   1988 - Japanese exploration & feasibility
•   1994 - Oxide gold mining commenced
•   1984-2012 - Six feasibility studies done

•   Mineral Resources
    • 15Mt @ 1.2%-1.4% Cu & 1.0g/t Au
    • 5 near-surface deposits
    Rakah, Hayl As Safil, Al Asghar
    Al Bishara & Al Jadeed
    • Rakah East 2.0Mt @ 0.7% Cu additional

•   Ore Reserves
    • 8.1Mt @ 1.2% Cu & 0.7g/t Au
    • Open pittable reserves only

                                                    29
Mawarid – MB Petroleum

    Mawarid Mine
    •   1999/2000 – Hatta & Shinas deposit clusters discovered
        by Bob Close
    •   2007 – Mining @ Hatta & Shinas commenced on reserve
        of 3.5Mt @ 2.5% Cu
    •   2008 – Mawarid made US$120m free cash flow in Year 1
        – paid off US$60m capex in 6 months
    •   2009 – Exploration recommenced using VTEM
    •   2010 - Discovered Safwa & Mandoos
    •   2011 – Mining commenced on Safwa & Mandoos

    •   Mawarid has approximately 2 years of open pit reserves
        and then proposes to go underground at Ghuyzan
    •   Ghuyzan has 3 deposits ~10Mt @ 1.5-2.0% Cu

    •   Mawarid has taken 9.8% of Nautilus & is exploring in
        Kazakhstan for gold

                                                               30

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Copper exploration in Oman and Turkey

  • 1. AFRICA RESOURCES INVESTMENT CONGRESS Copper exploration in Oman and Turkey Dr Peter Ruxton – President & CEO, Gentor Resources IRONMONGERS’ HALL, CITY OF LONDON ● TUESDAY, 12 JUNE 2012 www.ObjectiveCapitalConferences.com 1
  • 2. Gentor Resources Copper in Oman & Turkey May 2012 VMS & Base Metal Exploration & Development Oman Turkey 2
  • 3. Disclaimer Forward-Looking Statements: This presentation contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to exploration results, potential mineral resources, potential mineralization and the Company's plans with respect to the exploration of its Oman properties) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the Company's expectations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, changes in commodity prices, foreign currency fluctuations, political developments in Oman, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting geological data and the other risks involved in the resource exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. U.S. investors are cautioned not to assume that any disclosure of mineralization contained in this presentation is economically or legally mineable. U.S. investors are urged to closely consider all of the disclosures in the Company's reports filed pursuant to the United States Securities Exchange Act of 1934 which may be secured from the Company, or from the SEC's website at http://www.sec.gov/edgar.html. Qualified Person The technical information included in this presentation has been reviewed and approved by Peter A. Ruxton, who is the Company's President and Chief Executive Officer and a "qualified person" as such term is defined in National Instrument 43-101. Technical Report Additional information with respect to the Company's Omani properties is contained in the technical report prepared by Venmyn Rand (Pty) Ltd, dated December 31, 2010 and entitled "National Instrument 43-101 Independent Technical Report on Block 5 and Block 6 Copper Projects, Semail Ophiolite Belt, Sultanate of Oman held by Gentor Resources, Inc." A copy of this report can be obtained from SEDAR at www.sedar.com. 3
  • 4. Gentor Copper – Corporate Summary • Global VMS base metal & copper expertise • Targeting highly profitable, low cost, copper/gold operations • Accelerated discovery and development opportunity – low geological risk • Exploration in Oman & Turkey • Oman - highly profitable, low cost  Clusters of numerous 1Mt -15Mt deposits typical – 2 discoveries made so far  Open cut resources - low waste: ore ratios - metallurgically simple  Low personnel & fuel costs – excellent infrastructure • Turkey – large VMS deposits mined – “elephant country”  Established mining culture – reformed Mining Code – attractive environment  Mineral-rich country – under-explored for VMS & base metals 4
  • 5. Gentor Resources Inc. – Corporate Overview Head Office Toronto, Canada Listing TSX-V (GNT) + OTCBQ US (GNTOF) Securities Issued Shares – 62.8 million (Jun. 2012) Warrants/Options – 8.37 million GENTOR RESOURCES SHAREHOLDERS Shares % Share Price CAD$0.30/sh Galena 6.7 10.6% (May 28th 2012) Blackrock 5.3 8.5% Geologic 4.0 6.4% CQS 1.0 1.6% Cash ~US$5.0 million Al Fairuz Brothers 2.5 4.0% Management 16.0 25.5% 35.5 56.6% Market Capitalisation CAD$19.0 million TOTAL 62.8 million shares 5
  • 6. Gentor – Board & Management Board • Simon Village (Non-Executive Chairman) • Arnold Kondrat (Executive Vice-President) (Canadian/US group behind Banro Corporation & Loncor) • Rudolph de Bruin (Non-Executive) • David Twist (Non-Executive) (South African group behind Platmin, Sephaku, African Nickel, Taung Gold & APM) • Peter Ruxton (President & CEO – Board & Management) Exploration Management • Bob Close (Business Development Manager – Oman-based) • Eugene Iliescu (MD – Oman – Oman-based) • Omer Celenk (MD – Turkey – Turkey-based) • Partha V (Director – Finance & Administration – Oman-based) • Andrew McCarthy (Exploration Manager – Oman-based) 6
  • 7. Tethyan Metallogenic Belt - Oman & Turkey 7
  • 8. Oman Ophiolite – Exploration Blocks Mawarid Block 6 Lasail Yanqul 50 km 50 km Copper Deposits Copper Deposits Copper Smelter Complex Copper Smelter Complex 8
  • 10. Tethyan Fold Belt (Orogeny) – 90-100Myrs – Trans-European 10
  • 11. Mahab 4 Drill Results Summary (to January 2012) Hole No. From To Mineralisation Intercept Copper Gold Zinc Silver Mahab 4 m m m % gt % g/t GRB5D020 40.15 55.55 MS 15.40 7.40 0.17 0.91 7.90 GRB5D030 32.05 63.00 MS + SMS + QVS 30.95 3.16 0.28 1.29 17.40 GRB5D032 67.15 87.45 Jasper + MS 20.30 5.79 0.37 2.42 22.00 GRB5D035 44.42 98.61 MS + SMS + QVS 54.19 4.97 0.19 0.85 9.60 B5MB4D059 33.50 43.69 MS 10.19 6.69 0.48 3.20 20.00 B5MB4D064 13.50 53.00 GOS/MS/SMS 39.50 4.81 0.25 0.38 16.70 B5MB4D070 12.42 36.46 MS 24.04 6.32 0.49 1.10 24.2 B5MB4D071 63.15 120.00 MS + SMS 56.85 6.21 0.22 0.90 10.4 B5MB4D074 70.35 105.44 MS 35.09 4.82 0.38 17.70 0.85 B5MB4D083 45,15 88.44 MS + SMS + QVS 43.29 3.62 0.24 0.90 11.8 Codes (Umber = Fe sediment, Jasper, MS = Massive Sulphide, SMS = Semi-massive Sulphide, QVS = Quartz Vein Stringer, GOS = Gossan) 11
  • 12. Mahab 4 – Geology & Cross Sections 4 25m-50m spaced drill sections N 330m long massive sulphide Thick massive sulphide wedge Open pittable depth (30-40m) 4 3 3 2 1 12
  • 13. Mahab 4 – Long Section 13
  • 14. Gentor - Regional Copper Play 14
  • 15. Maqail South Prospect Maqail South Drill Results Summary (to December 2011) Hole No. From To Mineralisation Intercept Copper Gold Zinc Silver Maqail South m m m % gt % g/t GRB5D0023 68.02 74.27 MS 6.25 3.30 0.16 0.02 2.69 GRB5D0024 63.71 70.39 MS 6.68 7.42 0.29 0.03 4.95 GRB5D031 43.86 57.46 MS 13.60 3.22 0.08 0.02 0.76 Codes (MS = Massive Sulphide, SMS = Semi-Massive Sulphide, QVS = Quartz Vein Stringer) 15
  • 16. Maqail South – Geology & Cross Section 16
  • 17. TURKEY – VMS Copper Deposits 17
  • 18. ERZURUM – Hacimeter Project 50 km Copper Deposits Copper Smelter Complex 18
  • 19. HACIMETER – Topography & Mineralisation 19
  • 20. HACIMETER – Geology & Copper-in-Streams 20
  • 21. HACIMETER – Gossans & Besler Drilling Proposed TEM Survey Outline Target Area Gossan Zone 500m 21
  • 22. HACIMETER – IP Chargeability & Targets 22
  • 23. HACIMETER – IP Resistivity & Targets 23
  • 24. Gentor Resources – VMS Copper Focus • VMS & Base Metal exploration expertise • Oman - ~1,500km2 of prospective ophiolite in 500km prospective belt (‘first mover’ advantage) - along strike from operating VMS copper mines • Turkey – Besler Option & JV 70:30 – Hacimeter drill-ready targets – large VMS deposits – “elephant country” • Potential for accelerated discovery using modern techniques (eg VTEM) • Excellent infrastructure (access, power, communication, water) • Low cost – highly profitable mining environments 24
  • 26. Gentor Copper - Omani Agreements Blocks 5 & 6 • Block 5 – Equity holding 40% in Al Fairuz Mining LLC - right to earn-in to 65% by funding to completion of BFS Omani Partner - Al Fairuz brothers – Heavy Earthmoving Equipment/ Construction/Cannery/ Boats - 4% shareholder in Gentor Resources • Block 6 – Equity holding 20% in Al Zuhra Mining LLC – right to earn-in to 70% by funding to completion of BFS Omani Partner – Sheikh Ahmed Fahrid – owner of some 21 Companies in Oman including Construction/Telecoms/Tourism/Hotels etc • Capital Return Agreements – Gentor to re-coup 100% of exploration, feasibility & development costs on commencement of mining (on a formula) before dividends split on equity share 26
  • 27. Gentor Copper - Turkish Agreement Hacimeter Option & 70:30 Joint Venture • Besler Group – Mining Chromite & Dimension Stone in Hacimeter region • “Option Period” – 12 months – US$200,000 (on-signature) – Gentor to explore drill- ready targets at Hacimeter + follow-up broader geology & stream anomaly • “Feasibility Period” – 36 months – US$400,000 (on-transfer) – 70:30 JV - Gentor to complete a BFS - + 2x US$300,000 payments (on-24 & 36 months) • “Development Period” – Gentor to fund but can recoup all exploration/ feasibility & development dollars (less US$3.2m) • Besler & Turkish partner defined IP chargeability targets • Drilling identified a zone of ~1Mt at ~1.0% copper in VMS stringer • Zone of Influence around Hacimeter – covers ophiolite terrain 27
  • 28. OMCO – Lasail Complex Lasail Cluster Mine • 1973 – Lasail, Aarja & Bayda deposits discovered by Prospection • Projects purchased by Oman government – assets held under OMCO • Concentrator, smelter & refinery complex built • Reserve of approx. 10Mt @ 1.5% Cu defined • 1983-1994 – Mining of the Lasail Cluster • 1994 - mine closed on lower copper prices • Concentrate imported to continue Lasail smelter operation • 2005 – Mawarid purchased the concentrator @ Lasail (OMCO continue to operate the smelter & refinery) • Mawarid under contract to supply at least 30% of concentrate to OMCO 28
  • 29. Yanqul – OMCO (Oman Government) Yanqul Project • 1974 – Discovered by Prospection (Canadian) • 1988 - Japanese exploration & feasibility • 1994 - Oxide gold mining commenced • 1984-2012 - Six feasibility studies done • Mineral Resources • 15Mt @ 1.2%-1.4% Cu & 1.0g/t Au • 5 near-surface deposits Rakah, Hayl As Safil, Al Asghar Al Bishara & Al Jadeed • Rakah East 2.0Mt @ 0.7% Cu additional • Ore Reserves • 8.1Mt @ 1.2% Cu & 0.7g/t Au • Open pittable reserves only 29
  • 30. Mawarid – MB Petroleum Mawarid Mine • 1999/2000 – Hatta & Shinas deposit clusters discovered by Bob Close • 2007 – Mining @ Hatta & Shinas commenced on reserve of 3.5Mt @ 2.5% Cu • 2008 – Mawarid made US$120m free cash flow in Year 1 – paid off US$60m capex in 6 months • 2009 – Exploration recommenced using VTEM • 2010 - Discovered Safwa & Mandoos • 2011 – Mining commenced on Safwa & Mandoos • Mawarid has approximately 2 years of open pit reserves and then proposes to go underground at Ghuyzan • Ghuyzan has 3 deposits ~10Mt @ 1.5-2.0% Cu • Mawarid has taken 9.8% of Nautilus & is exploring in Kazakhstan for gold 30

Notas del editor

  1. The Semail Ophiolite Belt in Oman is 600km long and between 100-150km wide. The belt represents an obducted portion of sea floor – a section of the ancient sea floor which has been lifted onto the Continental surface during orogenic movements. The ophiolite represents a large thickness of sea floor – some 8-12km of upper mantle peridotites and 4-7km of oceanic crustal rocks. Although the ophiolite appears to be one sheet there are actually several structural blocks observed. VMS style mineralisation is associated with the upper portions of the Ophiolite – in a 2.0-2.5km package of pillow basalts and manganiferous sea floor sediments. The Semail Ophiolite has been a source of copper since the Bronze Age providing metal for the Mesopotanian civilisations. Between 1970 & 1990 the belt was subjected to intensive multinational regional exploration resulting in the discovery of 44Mt or 1-2% copper, principally in 3 areas: Lasail, Ghuzayn and Aarja. A total of 25 major prospects were identified of which the Omani Government mined 3 - Bayda, Lasail & Aarja. The government built a 1Mtpa copper concentrator, smelter and refinery complex at Lasail. In the early 2000’s a private company, ironically named the National Mining Company (NMC), discovered 3 new deposits and commenced mining in 2006
  2. The Oman & Cyprus Ophiolites were formed during the Tethyan Orogeny which affected much of southern Europe and Persia in the late Cretaceous perios (100-90Mys ago)
  3. The Oman & Cyprus Ophiolites were formed during the Tethyan Orogeny which affected much of southern Europe and Persia in the late Cretaceous perios (100-90Mys ago)
  4. The Oman & Cyprus Ophiolites were formed during the Tethyan Orogeny which affected much of southern Europe and Persia in the late Cretaceous perios (100-90Mys ago)
  5. The Oman & Cyprus Ophiolites were formed during the Tethyan Orogeny which affected much of southern Europe and Persia in the late Cretaceous perios (100-90Mys ago)
  6. The Oman & Cyprus Ophiolites were formed during the Tethyan Orogeny which affected much of southern Europe and Persia in the late Cretaceous perios (100-90Mys ago)
  7. The Semail Ophiolite Belt in Oman is 600km long and between 100-150km wide. The belt represents an obducted portion of sea floor – a section of the ancient sea floor which has been lifted onto the Continental surface during orogenic movements. The ophiolite represents a large thickness of sea floor – some 8-12km of upper mantle peridotites and 4-7km of oceanic crustal rocks. Although the ophiolite appears to be one sheet there are actually several structural blocks observed. VMS style mineralisation is associated with the upper portions of the Ophiolite – in a 2.0-2.5km package of pillow basalts and manganiferous sea floor sediments. The Semail Ophiolite has been a source of copper since the Bronze Age providing metal for the Mesopotanian civilisations. Between 1970 & 1990 the belt was subjected to intensive multinational regional exploration resulting in the discovery of 44Mt or 1-2% copper, principally in 3 areas: Lasail, Ghuzayn and Aarja. A total of 25 major prospects were identified of which the Omani Government mined 3 - Bayda, Lasail & Aarja. The government built a 1Mtpa copper concentrator, smelter and refinery complex at Lasail. In the early 2000’s a private company, ironically named the National Mining Company (NMC), discovered 3 new deposits and commenced mining in 2006