Summary of company activities April 2011. 2 THE CONTENT OF THIS PROMOTION HAS NOT BEEN APPROVED BY AN AUTHORISED PERSON WITHIN THE MEANING OF THE FINANCIAL.

Summary of company activities Summary of company activities

April 2011April 2011

2

THE CONTENT OF THIS PROMOTION HAS NOT BEEN APPROVED BY AN AUTHORISED PERSON WITHIN THE MEANING OF THE FINANCIAL SERVICES AND MARKETS ACT 2000. RELIANCE ON THIS PROMOTION FOR THE PURPOSE OF ENGAGING IN ANY INVESTMENT ACTIVITY MAY EXPOSE AN INDIVIDUAL TO A SIGNIFICANT RISK OF LOSING ALL OF THE PROPERTY OR OTHER ASSETS INVESTED. These presentation slides (the “Slides”) have been prepared by Taurus Gold Limited (“Taurus” or the “Company”) in relation to the proposed fundraising.  These Slides do not comprise an admission document, listing particulars or a prospectus relating to the Company or any subsidiary of the Company, do not constitute an offer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribe for any such securities.  The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. The information contained in the Slides is provided as at the date of this presentation and is subject to amendment, revision and updating in any way without notice or liability to any party.  The Slides  contain  forward-looking  statements, which  relate,  inter alia,  to  the Company’s proposed strategy, plans and objectives. Forward-looking  statements  include all  statements other than historical facts, such as statements regarding projected ore grades, projected ounce volumes, projected unit net cash costs, projected operating cash flows, projected capital expenditures,  the  impact of  gold price  changes,  the  impact of  changes  in deferred  intercompany profits and purchases of  the Company. Accuracy of  the  forward-looking  statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. Forward-looking statements involve  known  and  unknown  risks,  uncertainties  and  other  important  factors  beyond  the  control  of  the  Company  that  could  cause  the  actual  performance  or  achievements  of  the Company  to be materially different  from such  forward-looking  statements. Accordingly, you should not  rely on any  forward-looking statements and except  to  the extent  required by applicable regulation the Company accepts no obligation to disseminate any updates or revisions to such forward-looking statements. Potential  reserve  additions  (“demonstrated  reserves”)  will  not  qualify  as  reserves  until  sufficient  mapping,  drilling,  sampling,  and  assaying  are  completed  and  until  comprehensive engineering studies establish their economic feasibility. Accordingly, no assurance can be given that any potential reserve additions will become recoverable proven or probable reserves.This presentation also contains certain financial measures such as unit net cash costs per ounce of gold cash costs per ton. As required, reconciliations of these measures to amounts reported in future consolidated financial statements or pro forma consolidated financial results will be provided in the supplemental data upon request.

This presentation also includes a summary of the various risk factors that you should carefully consider prior to making an investment decision. 

The contents of this Presentation are confidential and may not be copied, distributed, published or reproduced in whole or in part, or disclosed or distributed by recipients to any other person. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this presentation or on its completeness, accuracy or fairness.

By attending this Presentation, you agree to be bound by the restrictions in this disclaimer.

Disclaimer

3

Contents

Corporate Overview

Regional orientation – West Africa

Asset Overview– Cote D’Ivoire

– Burkina Faso

– Mali

Conclusion

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Introduction to Taurus Gold Limited

• Taurus  is  a  private  West  African focused  gold  exploration  company,   with 18  licenses covering 5,781 km² across  Cote  d’Ivoire,  Burkina  Faso and Mali

• Created through a merger of ENRC’s West African gold licences and those of  a  Tau  Capital  controlled  SPV  in the region

• Immediate  focus  is  a  brownfield project, Afema, targeting a JoRC/43-101  Resource  within  12  months, while concurrently developing other projects in the region

• Mapping and geophysics  completed on licenses in Burkina Faso and Mali, generating  23  greenfield  drill  target anomalies

5

Ownership and Capital Structure

Subject to NDA - not for distribution

6

Jonathan Schneider (Executive Chairman) Co-founder and Managing Partner of Novator Credit 

Opportunities Fund Co-founder of AFS Limited, a pan Africa Micro-Lender Previously a Director of hedge fund Amaranth Europe LLC Held positions at Promethean Capital LLC, Aqua Online, 

Merrill Lynch and PriceWaterhouseCoopers over the last 20+ years

Currently a member of the Credit Investment Committee of Holland Life Insurance Company and a Non-executive Director of Talon Metals Corp. (TSX: TLO)

Gordon Thompson (Chief Executive Officer) Formally COO of AIM listed CAMEC prior to its acquisition 

by ENRC in 2010 Formally CEO of South Deep Gold Ltd 25+ years experience in the mining industry

Michelle Jenkins (Chief Financial Officer) Initially trained and practised as a geologist Qualified as a Chartered Accountant with KPMG’s mining 

group in Johannesburg Extensive experience with exploration and mining 

companies in Africa Previously financial director of Clarity Capital

Directors & Senior Management

Chris Pieters (Non-Executive Director) Managing Director and Co-founder of Walcot 

Capital Formally Chief Commercial Officer of Sunshine Gas 

Ltd Holds BSc (Geology), BBus and an Honours degree 

in Petroleum Geology and Geophysics

Greg Kinross (Non-Executive Director) Chartered Accountant, having worked at 

PricewaterhouseCoopers, South Africa and also with experience in private equity and investment banking

President of CIC Energy President and CEO of Tau Capital Corp Director of Talon Metals Corp. (TSX: TLO)

Beat Ehrensberger (Non-Executive Director) Head of Mergers & Acquisitions at Eurasian 

Natural Resources Corp. Plc (ENRC) Formally ENRC General  Counsel Holds an MA in Law from University of Zurich Admitted to the Bar in Switzerland in 2002

7

Experienced Technical Team

Technical Committee

Dr Phung Nguyen (PhD) Published exploration geologist Specialises in the structural controls of gold 

mineralisation Credited with the discovery of significant gold deposits 

and mines

Dr Etienne Dinel (PhD) Expertise in Structural Geology, Petrology and 

Geochemistry of ore deposits Has conducted multiple field mapping projects with 

various Canadian governmental geological surveys in collaboration with major mining companies

Charlie Foster Experienced exploration geologist Involved in numerous gold discoveries Awarded PDAC  ‘discovery of the year’ award in 2008 for 

his discovery of the Oyu Tolgoi copper gold deposit in Mongolia

Technical Consultants and Contractors

GWM Consulting Independent competent person managing group 

exploration Compilation of 43-101 technical reports

Peter Geerdts Consulting structural geologist in Burkina Faso Independent contractors managing drilling activities Independent QA/QC

Drilling Contractors and Support Services Scott Drilling  (Pty) Ltd Geodrill Ltd Coffey Mining

8

Regional OrientationRegional Orientation

9

Birimian Greenstone Belt>175m ozs of modern discoveries

Source GMP Europe

10

Birimian Geology Across West Africa

Country Birimian Geology (km²)

Gold Resources (Moz)

km²/Moz

Ghana 45,000 110 409

Mali 124,000 33 3,758

Guinea 27,000 12 2,250

Burkina Faso 60,000 12 5,000

Cote d’Ivoire 113,000 8 14,125

Senegal 6,000 3 2,000Source: GMP Europe

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Country Cote d’Ivoire Mali Burkina Faso Group

Company Rockstone Gold SA

Rockstone HL Ltd1

Taurus Gold Mali SA

Taurus Gold Burkina Faso SARL

Region Afema Hana Lobo Bakolobi Banfora Dori Orex Exma

No of licences 1 1 1 82 2 33 24 18

Area (km2)  2 000 2 000 120 462 489 658 52 5 781

Licence Summary

1 Effective 60% interest in unincorporated joint venture, refer to Risk Factors2 Application for one of the Company’s eight Banfora permits is pending3 Permits currently in the process of being assigned to the Company4 The Company’s rights to the Exma permits are held pursuant to an option agreement

12

Cote d’IvoireCote d’Ivoire

13

Afema

Hana Lobo

Yamoussoukro

Abidjan

Cote d’Ivoire

14

Afema – 2 of 3 regional shear zones

15

Afema - legacy mining along the Afema sheer 

• Mining  undertaken  by  Eden  Roc from  1992-1998  producing 125,000oz  Au  @2.0g/t  at  Afema Gold Mine

• Mining  activities  suspended  due to  low prevailing gold prices and depleting oxide resources

• The Afema Gold Mine comprised a series of 15 deposits developed as  shallow  oxide  pits  along  a 12km strike length

• Mineralised  trend  under-explored  for  underlying structurally  continuous  gold zones 

16

Afema - Jonction Mine – Section BB

Source: Taurus Gold

Source: Taurus Gold

17

Open Pits

Underground Prospects

Zone Probable (ounces)

Grade (g/t)

Possible (ounces)

Grade (g/t) Potential (ounces)

Grade (g/t) Total (ounces)

Grade (g/t)

Jonction 130,437 6.29 17,996 5 181,411 6.1 329,873 6.10

Aniuri 149,709 5.59 - - - - 149,709 5.59

Total 280,146 5.90 17,996 5 181,411 6.1 479,582 5.93

Zone Probable (ounces)

Grade (g/t)

Possible (ounces)

Grade (g/t)

Potential (ounces)

Grade (g/t) Total (ounces)

Grade (g/t)

Asupiri B 29,440 4.47 6,033 4.17 - - 35,527 4.42

Asupiri

Mine

31,864 9.46 22,719 7.02 - - 54,07 8.27

Adiopan N - - 30,058 6.47 - - 30,058 6.47

Total 61,304 6.16 58,810 6.30 - - 120,092 6.23

Total ounces* = 599,674Total ounces* = 599,674

Afema - legacy 3rd party resource estimation*

* Legacy 3rd party resource estimation based on historical resource estimation guidelines, and not currently 43-101/JORC compliant. Planned exploration programme in process to enable resource estimation to comply with 43-101/JORC guidelines

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Trench results

Project PS 4 - 500m strike and has mineralized intersections up to: 10m at 6.29 g/t Au, 6m at 10.74 g/t Au and 5m at 4.67 g/t Au

Project PS 5.3 -1000m strike and has mineralized intersections up to: 12m at 3.19 g/t Au, 5 at 5.07 g/t Au and 4m at 8.96 g/t Au

Project PS 5.2 - 175m  strike and has mineralized intersections up to: 14m at 3.78 g/t Au, 10 m at 4.94 g/t Au and 13 m at 4.56 g/t Au

Hana Lobo - 5 prospective targets

Source: Taurus Gold

19

Hana Lobo - geophysics

Source: Sodema

20

Cote d’Ivoire - work programme

• Afema – focused on converting historic resource to 43-101/JORC compliant resource by twinning historic holes and expanding resource – drill rigs secured

• Hana Lobo – target definition and testing

Q2 2011 Q3 2011 Q4 2011 Q1 2012 TotalAirbourne - - X - -Ground X X - - -

DD 3 000 3 000 6 000 6 000 18 000RC - 9 000 9 000 9 000 27 000

Total 3 000 12 000 15 000 15 000 45 000

Q2 2011 Q3 2011 Q4 2011 Q1 2012 TotalAirbourne - - - - -Ground X X X - -

DD - - 1 000 1 000 2 000RC - - - 2 000 2 000

Total - - 1 000 3 000 4 000

Afema

Hana Lobo

Geophysics

Geophysics

Drilling (m)

Drilling (m)

21

Burkina FasoBurkina Faso

In the recent Fraser Institute Survey of Mining Companies, Burkina Faso was ranked 1st in Africa in terms of Current Mineral Potential* and 6th out of 79 countries worldwide

The country has also been voted 2nd best country in Africa to invest in after Botswana

‘Burkina Faso is now one of the most attractive countries for gold mining and exploration in the world.’ - Producer company with more than US$50M revenue, Manager

* assuming current regulations and land use restrictions

22

Wou Ne & Daramandougo

Ouagadougou

Burkina Faso - Daramandougou, Wou Ne and ‘The Gap’ 

23

Wou Ne

Source: Taurus Gold Source: Taurus Gold with Quick Bird Imagery

24

Wou Ne – artisanal workings

Source: Taurus Gold

25

Wou Ne – ore zone down dip artisanal stope

Source: Taurus Gold

26

Daramadougou – artisanal workings

Source: Taurus Gold

27

Dori

Ouagadougou

Burkina Faso -  Dori

28

Dori – detailed magnetic survey

Source: Taurus Gold Source: Taurus Gold

29

Dori Anticline – deep artisanal mine

Source: Taurus Gold

30

Gaigou Mine

Dori – high grade artisanal mine

Source: Taurus Gold

31

Banfora

Ouagadougou

Burkina Faso – Banfora Cluster (11 Permits)

3232

Cote d'Ivoire

Ban

fora

0 5 10 km

Wuo Coun

Wuo Cenma 1

Wuo Cenma 2

Yeya 2

Yeya 1

Yeya 3

Diandoura

Bokouo

Nanfesso

Wuo Coun

Wuo Cenma 1

Wuo Cenma 2

Yeya 2

Yeya 1

Yeya 3

Diandoura

Bokouo

Nanfesso

Camec Permits

Orex Permits

Conductivity Anomalies

Geophysical Targets

Cote d'Ivoire

Ban

fora

0 5 10 km

Wuo Coun

Wuo Cenma 1

Wuo Cenma 2

Yeya 2

Yeya 1

Yeya 3

Diandoura

Bokouo

Nanfesso

Wuo Coun

Wuo Cenma 1

Wuo Cenma 2

Yeya 2

Yeya 1

Yeya 3

Diandoura

Bokouo

Nanfesso

Camec Permits

Orex Permits

Conductivity Anomalies

Geophysical Targets

20km100

Cote d'Ivoire

Bobo-Dioulasso

Ouagadougou

BANFORA

Application

Yeya 1

Yeya 2Wuo Cenma 2

Wuo Cenma 1

Wuo Coun

Wuo Pel

Yeya 3

Diandoura

Bokouo

Nanfesso

Wuo NE

Application

Yeya 1

Yeya 2Wuo Cenma 2

Wuo Cenma 1

Wuo Coun

Wuo Pel

Yeya 3

Diandoura

Bokouo

Nanfesso

Camec Permits

Orex Permits

Small-Scale License

Application Block

20km100

Cote d'Ivoire

Bobo-Dioulasso

Ouagadougou

BANFORA

Application

Yeya 1

Yeya 2Wuo Cenma 2

Wuo Cenma 1

Wuo Coun

Wuo Pel

Yeya 3

Diandoura

Bokouo

Nanfesso

Wuo NE

Application

Yeya 1

Yeya 2Wuo Cenma 2

Wuo Cenma 1

Wuo Coun

Wuo Pel

Yeya 3

Diandoura

Bokouo

Nanfesso

Camec Permits

Orex Permits

Small-Scale License

Application Block

• 7 008 line km VTEM• 8 deep conductive Au targets  

Banfora Cluster – 11 permits

Source: Taurus Gold

Source: Taurus Gold

3333

Saprolite

Saprock

Chloritic schist

6m @ 7.16g/t

2m @ 21.15g/t

WNW ESE

Quartz stock workQuartz stock work

Banfora Cluster – Bokouo aircoreSection 21700N

Source: Taurus Gold

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Burkina Faso - work programme

Q2 2011 Q3 2011 Q4 2011 Q1 2012 TotalAirbourne - - - - -Ground X X - - -

DD 5 500 6 000 3 000 - 14 500RC - 3 000 9 000 9 000 21 000

Total 5 500 9 000 12 000 9 000 35 500

Burkina Faso

Geophysics

Drilling (m)

• Investigative  drilling  underway  within  the  Banfora  West  licence  areas  with  the  aim  of determining potential and thereafter initial delineation of resources.

• Drill targets based on trench results and previous works.

• Note supergene enrichment of    the near-surface can provide highly anomalous  trench results with limited continuity at depth.

• RC follow-up drilling based on achieving acceptable results in earlier DD campaign.

35

MaliMali

36

BakolobiBamako

Bakolobi - Mali

In their 2010/2011 survey, the Fraser Institute, ranked Mali 3rd in Africa in terms of Current Mineral Potential*, and 21st in the world.

* assuming current regulations and land use restrictions

37

Source: Geochem SamplingSource: VTem

Bakolobi – Kenieba Belt

Source: Taurus GoldSource: DNGM (Mali) Archives

Source: DNGM Archives Mali

Source: Taurus Gold

38

• 5,781 km² of prime Birimian landholding

• gold workings on most of the licenses

• +70,000m of recorded drill data

• Afema targeted for 43-101 resource

• geophysics and target generation complete

• aggressive drill programme planned

• experienced management with proven mine building track record

• supportive shareholders

• positioned to deliver …

Conclusion