Abzu Gold: a new direction in AfricaOctober 2012

DisclaimerThis document has been prepared for informational purposes only and does not constitute or form part of an offer or invitation for the sale or purchase of securities of the businesses or assets described in it. Certain statements contained in this document, including, without limitation, those concerning the economic outlook for the mining industry, expectations regarding metal prices and production, the completion and commencement of commercial operations of certain of Abzu Gold Ltd. (Abzu) projects, and its liquidity and capital resources and expenditure, contain certain forward-looking statements regarding Abzu’s economic performance and financial condition.

Although Abzu believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, success of business initiatives, changes in the regulatory environment and other government actions, fluctuations in metal prices and exchange rates, and business and operational risk management. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Past performance is no guide to future performance.

All investors are advised that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. Past performance is no guarantee of future performance and all investors are urged to consult their investment professionals before making an investment decision. Investors are further cautioned that past performance is no guarantee of future performance

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by management. There can be no assurance that any of the assumptions in the resource estimates will be supported by a Pre-feasibility or Feasibility Study or that any forward looking event will come to pass. The data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment.

The information contained in this document is not intended to be viewed by, or distributed or passed on (directly or indirectly) to, and should not be acted upon by any class of persons (in particular those classified as Retail for FSA purposes) other than Investment Professionals, Certified High Net Worth individual/companies and Sophisticated Investor. Non retail investors are not afforded with the same level of regulatory protections as those classified as Retail. It is the responsibility of all users to be informed and to observe all applicable laws and regulations of any relevant jurisdiction, and to satisfy themselves that their use of this information and any subsequent investment related activity is permissible under the applicable laws, rules and regulations of any applicable government, governmental agency, or regulatory organization where they reside

Abzu undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date of the annual report. All subsequent written or oral forward-looking statements attributable to Abzu or any person acting on its behalf are qualified by the cautionary statements herein.

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Introduction: Abzu Gold Ltd.

Listed on TSX-V, OTCQX and Frankfurt

Main office in Vancouver, regional office in Accra, Ghana

Strong, experienced management team

World-class asset potential

Capital Structure

Shares outstanding 59,179,485

Options 5,825,000

Warrants 200,000

Fully Diluted 65,204,485

Market Cap (at 1/10/12) C$7mn

Cash (at 1/10/12) ~C$0.3mn

Debt (at 1/10/12) 0

Management ownership 15%

TSX-V ticker ABS

C$

Source: Abzu Gold

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Why Abzu?

Exploring and developing gold assets in Ghana Quality jurisdiction for gold exploration and mining

High potential properties Two potential multi-million ounce gold deposits In total 16 concessions Drill targets established on all properties

Aggressive exploration Focus on easiest-to-advance resource opportunities Focus on targets with simple geology and regional analogues

Relationships and know-how Strong in-country presence over several years; well cultivated

dialog with national and local leaders Joint Venture (JV) with Kinross Team with proven geological and mine development expertise

globally and in Ghana

Source: Abzu Gold

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Abzu partners

Kinross Gold Corporation (Nangodi JV partner - 49% Kinross / 51% Abzu + operational control) One of world’s premier gold mining companies Successful operating history in Ghana with the Chirano gold mine

2P reserves of 1.9mn ounces gold 2012 production estimated at approximately 500,000 ounces gold

Financially robust partner Experienced mine developer

Source: Kinross, Stonehouse, Abzu Gold

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Stonehouse Construction (Strategic development partner*) Deep management know-how in engineering and constructing natural resource projects worldwide EPCM contractor to provide turn-key services and mine operation Ability to provide off-balance sheet financing solutions to build a mine at Nangodi to both lower

future shareholder dilution at Abzu and to lower the overall up-front capex needed to become operational

*Stonehouse strategic partnership announced July 23, 2012 is subject to final approval by both Stonehouse and Abzu, as well as Abzu shareholders and TSX Venture Exchange approval

Why Ghana?

Over 50mn ounces of gold discovered in the last decade Long history of gold production, yet country

remains underexplored and possesses highly prospective geology

Strong mining culture Gold mining since ancient times Small-scale mining prevalent across the

country Current gold mining operators include:

AngloGold Ashanti, Newmont, Kinross, Goldfields, Endeavour and multiple juniors

Stable parliamentary government English-based legal system 5% state royalty, 25% profit tax, 10% carried

interest in mine

Source: Abzu Gold

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Nangodi gold deposit

Nangodi – project within an emerging >100km gold bearing belt with characteristics similar to the Ashanti belt

1930’s high grade production averaged 26 grams per ton (g/t) from over 25,000 tons

Youga gold mine in Burkina Faso only 25km away on same shear zone (Endeavour Mining, 1.0mn oz gold M&I, production 90,000 oz/yr)

Nangodi and Yameriga concessions are a 51/49% JV with Kinross (formerly Red Back), Abzu has operational control

Source: Abzu Gold

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Nangodi gold deposit – advancing to maiden resource

Potential multi-million ounce gold deposit 1.2km x 60m x +200m drill tested 27 Abzu drill holes, 31 Africwest holes Multi-metre high grade zone Gold associated with sheared quartz-

feldspar porphyry

Legend for drill results; example 3m@17.93 = three meters of drill core that has produced a laboratory result of 17.93 grams of gold per ton of material. Au is the atomic symbol for gold, g/t is the abbreviation for gram per ton. Africwest information is historic in nature and is not 43-101 compliant. A Qualified Person has not reviewed drilling or sampling procedures or QA/QC undertaken at the time of drilling. However, Abzu has no reason to doubt the validity of the information. Source: Abzu Gold

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Nangodi gold deposit – strong drill results

Core shack with Nangodi drill core. Source: Abzu Gold

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Nangodi work program for 2012-2013

Advance Nangodi discovery

Q1, 2012 - Ground geophysics

Q2, 2012 - Surface sampling and trenching

Ongoing geological mapping

Q4, 2012 - phase 2 step-out drilling ≥ 5,000m (~30 reverse circulation and diamond drill holes 150m - 200m depth)

Drill to determine viability of multi-million ounce resource

Q1, 2013 - Undertake resource evaluation, expected news release by end Q1, 2013

Source: Abzu Gold

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Nangodi future expansion - satellite deposit - Zupeliga

Source: Etruscan Resources, Abzu Gold. This information is historic in nature and is not 43-101 compliant. A Qualified Person has not reviewed drilling or sampling procedures or QA/QC undertaken at the time of drilling. However, Abzu has no reason to doubt the validity of the information.

Zupeliga area to the SW of Nangodi main discovery

High Au signature soil geochemical anomaly

21m@2.31g/t Au, 18m@3.35 g/t, 19.5m@1.24g/t Rotary Air Blast (RAB) drilling results by Etruscan Resources in 2007

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Nangodi conditions

Excellent conditions and infrastructure in place

Power lines on site, trunk power line runs past site to export electricity to Burkina Faso (Youga mine is customer)

Paved, maintained road runs through site

Local work force engaged by Abzu in field work, eager for asset development

Local miners hand dig high- grade zones that outcrop at surface

Little or no saprolite simplifies exploration

Clockwise from upper left: Power line on site, local works digging trench, surface outcrop mined by locals, drill core photo, paved road running through site,

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Asafo

Road to Asafo. Source: Abzu Gold

152 km2 along the eastern margin of Kibi Belt

Abzu owns 100%

Newmont 2003 drilling and surface sampling returned numerous mineralized intercepts, including: 10m @ 1 g/t Au 1m @ 32 g/t Au

2011 completed work: Aerial geophysical survey Surface sampling program 13 hole 2,179m diamond drill program

Solid power and road infrastructure in place at site

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Asafo – multi-million gold ounce potential

T2

T3

New discovery at Target 1 20m @ 4.72 g/t gold (ASDD008)

1,100m x 600m gold zone discovered on Target 1

3 new targets with coincident surface anomalies and magnetic features and soil anomalies

Note that ppb is the abbreviation for parts per billion. Source: Abzu Gold

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Asafo drill results and work program for 2012-2013

Drill Hole Number

From metres

To metres

Interval metres*

Grade g/t gold

ASDD_001 1.00 3.00 2.00 1.29

  95.50 115.50 20.00 0.67

including 95.50 106.50 11.00 0.97

  148.50 168.50 20.00 0.41

ASDD_002 151.20 152.20 1.00 4.08

ASDD_003 98.50 110.50 12.00 0.85

ASDD_004 45.70 118.00 72.30 0.39

ASDD_005 0.00 30.00 30.00 0.60

ASDD_006 12.50 18.50 6.00 0.08

ASDD_007 66.90 70.30 3.40 0.60

ASDD_008 0.00 3.50 3.50 1.28

  36.50 56.50 20.00 4.72

including 37.50 45.50 8.00 10.29

  42.40 44.50 2.10 36.65

  42.40 43.50 1.10 62.20

  49.50 52.50 3.00 3.50

ASDD_009 0.00 16.50 16.50 0.15

  58.00 68.00 10.00 0.17

ASDD_010 2.50 4.50 2.00 1.65

ASDD_011 9.50 10.50 1.00 1.37

  82.63 84.63 2.00 1.07

ASDD_012 106.44 112.00 5.56 1.03

ASDD_013 82.60 96.40 13.80 0.44

including 88.90 92.00 3.10 1.30

* Insufficient drilling has been completed to determine true thickness

Advance Asafo discovery

Q4, 2012 – >1,000m trenching and surface sampling

Q1+2, 2013 - Drill ≥ 4,000m (strike continuity and step-out)

Drill to determine multi-million ounce resource viability

Further test >60ppb soil anomaly area to expand area of known mineralization

Asafo site and neighboring village sign. Source: Abzu Gold

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Asankrangwa concessions Three concessions between and adjacent to

historic, operating and re-opening gold mines PMI Gold and Keegan Resources developing

mines in immediate area Extensive surface anomalies, 5km x 3km @ ≥

50ppb gold (Golden Reef)

100% Abzu owned

Location map of Asankrangwa concessions, photo of old Obotan pit reworked by locals. Source: Abzu Gold

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Multiple concessions – future growth

Total 16 concessions in Ghana, including Nangodi, Asafo and Asankrangwa group

Akyem Area – Ashanti Gold Belt Five JV concessions and two 100% owned

concessions 10m @ 8.8 g/t Au; KYRC075 (Kwahu Oda) Trench intercepts up to 21m @ 3.71 g/t gold (Amuanda

Praso) Akyem is Newmont’s major new mine

development globally, set to produce on average 400,000 ounces gold per year for its first five years of production starting in 2014

Sefwi Gold Belt Four JV concessions along strike from

Bibiani and Ahafo Mines Aircore intercepts up to 4m @ 5.87 g/t Au; ABAC142

(Abofour)

Source: Abzu Gold

Source: Previous concession operators and Abzu Gold. This information is historic in nature and is not 43-101 compliant. A Qualified Person has not reviewed drilling or sampling procedures or QA/QC undertaken at the time of drilling. However, Abzu has no reason to doubt the validity of the information.

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Team - key personnelName Position Background

Tim McCutcheon CEO, Director A finance professional with over 16 years in international business experience, primarily in the precious metals sector in Eurasia. Most recently he was CEO of Ovoca Gold PLC, a London-listed company with gold exploration assets in Russia. Tim worked in multiple financial institutions such as Bear Stearns, Aton Capital and Pioneer Investments as an award-winning metals and mining sector analyst and as an investment banker. He also was a founder/partner of DBM Capital Partners Ltd, which managed the largest Russia-based gold fund, and was advisor to multiple international and domestic precious metals companies active in Russia’s mining sector.

Paul Klipfel President 33 years of gold exploration leadership and project development in North America, South America, Australia, South Pacific, Africa, and Asia working for major and junior explorers. He has been a contributor to the discovery process on several major gold deposits including Las Cristinas, Venezuela (>12 Moz); Musselwhite, Ontario, Canada (>5 Moz); Esaase, Ghana (>5 Moz); Livengood, Alaska, USA (>10 Moz).

Gordon Neal Chairman Over 25 years experience in providing corporate finance and corporate governance services to public companies. Currently VP Corporate Development at MAG Silver Corp. Previous advisor on corporate finance and investor relations to West Timmins Mining. He has raised more than $400 million for mining and resources companies since 2004.

Jeff Pontius Director Over 30 years geological experience, he led the discovery and development team for Cripple Creek Deposit in Colorado, which is operated by AngloGold Ashanti and now totals over 20 Moz gold. Founder of International Tower Hill Mines which in 2007 discovered the Livengood gold deposit in Alaska which now totals nearly 20 Moz gold and is proceeding to development

Mark Cruise Director In excess of 18 years of global experience in the mineral exploration industry from grass-roots exploration through resource definition to production. Eight years employed by Anglo American PLC where he was responsible for the company's exploration portfolio in Europe and North America. Dr. Cruise is the President and CEO of Trevali Mining Corp. and is a director of Dorato Resources Ltd.

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Vancouver OfficeSuite 2300 – 1177 West Hastings StreetVancouver, BC, V6E 2K3604-638-3288

Ghana Office57 Lapaz Main RoadP.O. Box MS114, Achimota Accra Tel: +233 302 416 891Fax: +233 302 416 804

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