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VATUKOULA GOLD MINES
AIM – “VGM”
RE-ESTABLISHED OPERATION
REVITALISED MINING STRATEGY
IMMEDIATE PRODUCTION, TARGETING 110,000 OZ/YEAR
Important Information
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The summary information contained herein has been provided by Vatukoula Gold Mines Plc (“VGM” or “the Company”). No representation, express or
implied, or warranty as to the accuracy or completeness of the information contained herein is made by any party and nothing contained herein is or shall be
relied upon as a promise or representation as to the future. In all cases, recipients should conduct their own investigation and analysis of VGM.
Except as otherwise indicated, the information contained herein is as of 24th April 2009 and should not, under any circumstances, create an implication that
there has been no change in the affairs of the Company, market conditions or regulations since such date. The Company does not assume any obligation to
update the information contained herein, including forward-looking statements.
The information is neither an offer to sell nor a solicitation of an offer to buy any securities.
The contents of this presentation are confidential and must not be copied, published, reproduced, distributed in whole or in part to others at any time by
recipients. This presentation is being provided to recipients on the basis that they keep confidential any information contained herein or otherwise made
available, whether oral or in writing, in connection with the Company.
The information contained herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to
VGM that are based on management’s current expectations, estimates and projections about the Company. Words such as “expects,” “intends,” “plans,”
“projects,” “believes,” “estimates” and similar expressions are used to identify such forward-looking statements. These statements are not guarantees of
future performance and involve risks, uncertainties and assumptions that are difficult to predict. Further, some of these forward-looking statements are based
upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially from what is expressed
or forecast in such forward-looking statements including rise in production capabilities and timetables; financials projections; production costs; and economic
predictions.
Forward-looking statements in this presentation are subject to known and unknown risks, uncertainties and other factors that may cause VGMs' actual
results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including
but not limited to: geopolitical uncertainty, political and economic instability, uncertain legal enforcement and risk of corruption where mining operations are
located; changes in, and the effects of, the laws, regulations and government policies affecting VGMs' mining operations, uncertainties related to raising
substantial additional financing to make all necessary investments and complete proposed mining projects; uncertainties related to the accuracy of VGMs’
estimates of mineral reserves and mineral resources and VGMs ' estimates of future production and future total cash costs of production; uncertainties and
costs related to exploration and development activities, feasibility studies that provide estimates of expected or anticipated economic returns from a mining
project; uncertainties related to expected production rates, timing of production and the total cash costs of production; changes in general economic
conditions, the financial markets and the demand and market prices of precious metals and diamonds. All forward-looking statements are expressly qualified
in their entirety by this cautionary statement.
Fiji – Pacific Rim
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Corporate Structure – Clear
Ownership
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
VGM has a 100% equity interest in the Vatukoula Gold Mine and
exploration licences on Viti Levu (SPL 1344, SPL 1201, SPL 1360)
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Historic production of 7.1 million ounces at 11 g/t
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Current JORC Resource of 5 million ounces at 10 g/t
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Benefits from a strong management team, with many years of global
experience in both the investment and operational side of the gold
industry
Senior Directors and Management
Diverse Gold Expertise
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Ian Colin Orr-Ewing, Executive Chairman
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8 years of experience in the mineral resource industry covering gold and diamonds
Appointed Finance Director of Vatukoula Gold Mines in 2004, after four years as an exploration geologist
Former Managing Director at Ashanti Goldfields Limited, Chief Executive Officer of UraMin Inc. and Former Vice
President for Gold Fields, Australia and Europe in 2004
David Lenigas, Executive Director
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Former International Mining Analyst
Ian Stalker, Non-Executive Director
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30 years of experience in the natural resource sector
Kiran Morzaria, Finance Director
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Former director of UK and Canadian oil companies and Irish and Canadian mining companies
David Paxton, Chief Executive Officer
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35 years of experience in the natural resource sector which covers both oil and mining industries
Executive Chairman and Chief Executive of Lonrho Plc and LeniGas and Oil plc
Former Managing Director of the of the joint venture that ran the Vatukoula Gold Mine
Bert Leathley, General Manager
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Former General Manager of Trekkopje, Namibia
30 years in the mining industry. Previously managed Avnel Gold, Kalana Mine (Mali) and Ashanti Goldfields
Production Strategy
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A Gold Resource of 5.15 million ounces at an average grade of 9.49 grams/tonne. (JORC
compliant)
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High grade underground gold mine planning to produce 110,000 ounces per annum in 2009
increasing to 120,000 oz per annum
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Proven and Probable reserves of 858,000 ounces gold, at a diluted grade of 11.4
grams/tonne sufficient for a 8 year mine life at current production levels
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Measured and Indicated resource extends the life to over 40 years.
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Converting exploration properties into production resources
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Concentrating on rigorous cost control
VGM – Mine Layout
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Vatukoula Overview
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3 operating shafts, 1 decline, underground
drives, and several ventilation shafts
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Operational history that extends over 70
years of gold production
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Average production 1996 to 2005 of
121,000 ounces Gold per annum
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Tonnes milled 1996 to 2005 consistently
above 500,000 tonnes (average 563,242
tonnes per annum)
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Grades between 5.6 g/t and 7.82 g/t over
this period
Smith and Philip Shaft Headgears
Mine Infrastructure /
Facilities
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A Process facility rated at 700,000
tonnes per annum process The circut
includes crushing, grinding, flotation,
roaster, CIP and numerous tailings
dams.
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Equipment includes trackless jumbos,
several Toro load-haul-dump
vehicles, support trucks and all the
other associated equipment
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Infrastructure includes a 20 Megawatt power station
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All necessary services on-site
including; assay labs, workshops,
staff housing and sports facilities.
7,549 hectares of freehold land
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Vatukoula Processing Plant
VGM – Historic Production & Tonnage
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160,000
11.00
140,000
9.00
120,000
7.00
100,000
80,000
5.00
60,000
3.00
40,000
1.00
20,000
Gold Produced
Grade
05/06
04/05
03/04
02/03
01/02
00/01
99/00
98/99
97/98
96/97
95/96
94/95
93/94
92/93
91/92
-1.00
90/91
0
Six Months Production
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Mine restarted in April 2008
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Six months production statistics; 114,000 tonnes mined at a grade of 7.64 g/t resulting in
18,000 ounces gold produced.
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Operating issues have been the availability of operating equipment
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100 year storm in January this year overwhelmed the surface drainage.
Operating Costs – Half Year
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Operating Costs
114,200 tonnes, >17,991 ounces gold
(US$831 per ounce gold)
11%
13%
38%
Variable Mining
Variable Milling
Labour
Engineering
8%
Fixed Milling
Other Mining
10%
Actual figures to end February 2009.
13%
7%
Power
Vatukoula Mine Cross Section
– Shallow Underground Mine
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VGM – Regional Exploration Potential
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Capital Structure
(As of 24th April 2009)
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Issued Share Capital
Major Shareholders
Number
% of Issued
Share
Capital
Issued and fully paid
2,536.4 million
Current Price
1.025 pence
SPROTT ASSET MANAGEMENT
455.0 million
17.9 %
Market Capitalisation
£ 26.0 million
US$ 38.4 million
CANADIAN ZINC CORPORATION
347.7 million
13.7 %
INGALLS & SNYDER LLC
139.0 million
5.5 %
STATE STREET NOMINEES LIMITED
95.0 million
3.7 %
Management & employee
warrants and options
207.7 million
Fully Diluted
2,744.1 million
Market Capitalisation
£ 28.1 million
US$ 41.6 million
Cash Position
£2.60 million
Contact Information
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UK Office
Level 5, 22 Arlington Street, London
SW1A 1RD, United Kingdom
t: +44 (0) 20 7016 7861
f: +44 (0) 20 7016 5101
info@vgmplc.com
Dave Paxton
dpaxton@vgmplc.com