Mining and Resource Investor Evening 13th September 2012

Disclaimer

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These presentation slides (“the Slides”) do not comprise an admission document, listing particulars or a prospectus relating to African Mining & Exploration plc (“ 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 Slides and the accompanying verbal presentation are confidential and the Slides are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any purpose. No reliance may be placed for any purpose whatsoever on the information contained in the Slides and the accompanying verbal presentation or the completeness or accuracy of such information. No representation or warranty, express or implied, is given by or on behalf of the Company or their respective shareholders, directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in the Slides and the accompanying verbal presentation, and no liability is accepted for any such information or opinions (including in the case of negligence, but excluding any liability for fraud).

The Slides contain forward-looking statements, which relate, inter alia, to the Company’s proposed strategy, plans and objectives. Such 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 the Company accepts no obligation to disseminate any updates or revisions to such forward-looking statements.

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AME at a glanceCapital Structure

Market Capitalisation £3.3m

Shares Issued 84,213,306

Warrants outstanding 58,940,493

Options 5,550,000

Potential issuable for Caracal Gold acquisition 3,515,000

Shares not in public hands 45.8%

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Board

Chairman: Stephen OkeStephen has over 35 years experience in the mining and investment banking industries. Former Director at Merrill Lynch, Executive Director at NM Rothschild, Global Head of Metals and Mining at ABNAmro Rothschild and Head of International Corporate Finance at Standard Bank. He currently is on the boards of International Ferro Metals, Kolar Gold and Shaft Sinkers and has previously been on the boards of various natural resources companies including Nikanor, Katanga Mining and Kazakhgold. Stephen has a BSc(Hons) in Geology from Southampton University and an MBA from the Graduate School of Business, University of the Witwatersrand, Johannesburg.

Chief Executive Officer: Mark JonesA graduate of the Camborne School of Mines, Mark is a mining engineer with over 30 years’ experience in mining production and associated businesses including explosives and heavy industrial equipment, over 20 of them in Africa. His global exposure to mining spans all continents, with specific expertise in gold and base metals in West Africa, Zimbabwe, South Africa and the former Soviet Union. Mark has an MBA and is currently a non-executive director of Aurum Mining plc , Tulpar Gold plc and Antracor Mining Ltd.

Director: Douglas ChikohoraDouglas Chikohora is a chartered engineer with over 28 years’ experience in the mining industry. His experience covers rare earth minerals and base and precious metals with various companies including Cluff Resources, which he joined in 1987 and where he was in charge of the exploration and development of the Ayanfuri mine in Ghana. After the acquisition of Cluff Resources by Ashanti Goldfields Company Limited in 1996, Mr Chikohora joined Cluff Mining Limited (now Ridge Mining Limited) in June 1996 before being appointed Managing Director of Cluff Mining (West Africa) Limited, responsible for its West African gold interests. He is currently a director of the Business Council for Africa and CEO of Cluff Africa Associates UK Ltd.

Director: Roger WilliamsRoger is a UK and South African chartered accountant with over 20 years' international experience in mining finance. In 1997 he joined Randgold Resources working on its London Stock Exchange listing and its later secondary listing on NASDAQ, where he was appointed Group Finance Director in 2002. From 2002 to 2007 he was part of the management team that oversaw its expansion, raising debt finance, managing its treasury operations and assisting on M&A and new business. He is currently acting as a consultant to an international mining company and is a non-executive director of 2 other London listed companies, Shaftsinkers plc. and Sylvania Platinum.

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Management team

Chief Executive Officer: Mark Jones

Chief Financial Officer: Michael McGartyA graduate in Finance from Manchester University’s Business School, and a qualified accountant (Chartered Institute of Management Accountants, UK). He gained 16 years of experience working with Ingersoll Rand (NYSE:IR), a leading global diversified manufacturer of industrial and engineered products. During which time he has worked in roles of increasing responsibility, covering all areas of accounts payable / receivable and financial / management accounting. He led the European implementation of the Sarbanes Oxley compliance initiative and has served for 7 years as financial controller for businesses covering Europe, Middle East and Africa, including the provision of business partner support and strategic planning. Michael has 2 years’ experience in West African exploration.

Country Manager: Dominic DohertyDominic was awarded a Queen's commission from the Royal Military Academy Sandhurst, retiring as a Captain after serving 8 years as a Regular Officer in the British Army. During a distinguished Army career he was involved in combat and service operations throughout the world, including Europe, North America, West Africa and the Middle East. He is professionally trained in information and intelligence gathering and analysis and academically trained as a lawyer with a degree in Law from Exeter University. During service in Sierra Leone Dominic forged a strong bond with West Africa and relationships from that time have led him back to the region several times over the past 15 years. As one of the founding partners of Roc Resources, Dominic developed an alluvial gold opportunity in Mali which he managed for 2 years. Prior to working in Mali, Dominic was Head of Business Development for the Government of Dubai, and took a leading role interfacing with African Producers for the UAE Government's “Masterplan for Diamonds” and enabling the Kimberley Process in Africa and the Middle East.

Head of Exploration: Rasmané KaboreRasmané, a masters graduate in Fundamental and Applied Geology from the University of Ouagadougou in Burkina Faso, has extensive experience gained from roles of increasing seniority in mineral exploration in West Africa. The core of his experience has been in orogenic deposits, managing exploration programmes for gold and base metals. As regional exploration manager for Volta Resources he was instrumental in the discovery and the definition of a number of precious and base metal prospects including the Nassara gold project. Rasmané has attained the level of Master in Mining Project Evaluation from Cespromin, Paris School of Mines and is a member of Anciens Stagiaires du CESMAT. He holds a certificate in Computer Assisted Exploration from CESMAT and a post graduate certificate in statistics and geostatistics from the Centre for Geosciences in Fontainebleau. In addition to his extensive experience in exploration, Rasmané has been involved in mineral resources estimation, mine scoping studies and property evaluation. During his roles as project geologist he has held responsibility for the implementation of QA/QC as well as Health, Safety and Environmental procedures. Rasmané is co-founder and president of the Burkina-e-mine group, dedicated to Burkina Faso mining news and analysis.

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West Africa: the world’s fastest growing gold province

A Region of Global Significance:

•>200Moz of gold discovered•Multi-party regional democracies•Modern mining codes and legislation•Well understood but under-explored geology

Mali – At the Heart of the Region:

•Third largest gold producer in Africa•Birimian Greenstone • > 50Moz discovered so far•Central location for servicing region•Effective infrastructure and services

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Karan

• 250km2 in southern Mali, 80km from Bamako

• Initial 2010 Artisanal Pit Sampling results included: 83.2 g/t, 36.6 g/t, 21.5 g/t

• RC drilling: Significant intercepts included: 17m @ 1.03g/t, 9m @ 1.17g/t and 1m @ 11.75g/t

• Induced Polarisation and Ground Magnetic Geophysics

Diatissan

• 16km2 in western Mali• Trench results of up to 8.34 g/t

November 2010: AME established in MaliAcquired 100% interest in two licences in Mali:

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Kossanto

• 5 Licences• 207 km2 in western Mali on

Kenieba inlier• 100% owned licences forming a

significant landholding on the main transcurrent shear zone (MTZ)

• 2170 metres RAB scout drilling• 5900 metres RC drilling

DonbaleyaNew project: 78 km2

DaounabereNew project: 91 km2

Total of 642 km2

2012: AME consolidates Mali land-holding• Acquired 7 additional

exploration licences

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Structural interpretation of the regional geophysics indicates the presence of a complex and prospective NNW striking shear zone, cross cut by E-W structures

Exploration has previously focused on the main areas of artisanal mining

These artisanal workings have a clear association with geophysical structures

RC drilling successfully intercepted Au mineralisation at three of the main targets

Karan

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Re-interpretation of the local and regional geophysics suggests that the RC drilling may have missed the crosscutting E-W structures

RAB drill fences have been planned to test the best areas of mineralisation located during the 2011 RC drilling campaign :

Fintakourouni target2 RAB fences planned to test peak RC drill intercepts of 6m @ 1.02g/t and 14m @ 0.51g/t Mana target4 RAB fences planned to test low grade but extensive (up to 39m @ 0.21 g/t) mineralisation seen throughout the Mana RC holes

Kouroudjin target7 RAB fences planned to test the highest grades recorded in Karan including 17m @ 1.03g/t, 9m @ 1.17g/t and 1m @ 11.75g/t

Fintakourouni

Mana

Kouroudjin

Karan

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Further targets:

Farague• Area of anomalous soil and termite

geochemistry; several values over 200 ppb including one at 1,960 ppb

• 81 Auger holes completed; peak values of 50 and 53 ppb and trend of increasing values to the NW towards the shear zone

Wouriya• Potential continuation of the

Kouroudjin prospect • NW striking zone of 150m x 30m,

lying 1.5km along strike

Lambakono• Eluvial artisanal mining• Located on an E-W structure

Mana N• Anomalous Newmont BLEG stream

sediment sampling• Soil sampling grid planned to locate

source of the BLEG anomalies

Southern part of Shear Zone• Work planned to test potential of

shear zone using an auger grid to provide in situ saprolite samples

Farague

Wouriya

Lambokono

Karan

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Massakama

Gourbassi West

Gourbassi East

Kossanto Project

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Gourbassi ProspectEast and West

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Gourbassi East is characterised by a NW to NNW striking mineralised zone with significant gold grades located along a clear lithological contact

Soil Sampling:• Originally identified due to anomalous Au-in-soil

geochemical signature• +50 ppb Au contour clearly delineated over an

area of 500 x 600 metres

Gourbassi East

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Gourbassi EastGourbassi East is characterised by a NW to NNW striking mineralised zone with significant gold grades located along a clear lithological contact

Soil Sampling• Originally identified due to anomalous Au-in-soil

geochemical signature• +50 ppb Au contour clearly delineated over an

area of 500 x 600 metres

Trenching• Extensive trenching across geochemical

anomalies revealed mineralisation coincident with contact zone

• Results confirmed a NW to NNW strike• Strike length of mineralisation indicated to be

900 metres• Peak trench grades included:

• 30m @ 0.56 g/t including 2m @ 3.77 g/t• 25m @ 1.11 g/t including 8m @ 2.6 g/t• 7m @ 3.1 g/t including 2m @ 8.3 g/t

Geophysics Surveys• Induced Polarisation surveys identify highly

resistive and chargeable anomaly• AME’s own ground magnetics survey delineates

intrusive bodies and adds structural detail15

RC Drilling

RC Drilling was carried out to test the depth and extent of the mineralisation identified in trenches along the contact zone

Significant RC intercepts included:• 5 metres @ 2.2 g/t• 12 metres @ 1 g/t• 22 metres @ 1.59 g/t, including 15 metres @

2.18 g/t• 51 metres @ 0.32 g/t

RC confirmed mineralisation continued at depth with GRC1 ending in mineralisation with the last metre returning 3.94 g/t at a depth of 130 metres

Mineralisation is related to the contact between Rhyolite and Rhyodacite units

Presence of strong NNW-striking mineralised structure has been confirmed by coincidence of multiple indicators and is open along strike in both directions

Gourbassi East

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Short Term Work Program

• The drilling of 4 RAB fences successfully started in August 2012 to test continuity and extent of mineralisation and test the other IP anomalies

• Planned RC holes (1200m) to test continuity of mineralisation and length of strike

• Follow on diamond core drilling

Medium-term Opportunity

• Once initial RC drilling confirms continuity, width and length of mineralisation, resource drilling can commence

• Current mineralisation suggests that definition of an inferred resource may be achievable with 3000m of RC drilling

Gourbassi East

Recent structural interpretation by AME’s technical team has identified multiple IP anomalies (chargeable and resistive)

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The Gourbassi West prospect lies approximately 3.7km WNW of Gourbassi East and appears to be analogous with its clear NNW striking zone of mineralisation associated with felsic volcanic rocks

Originally identified as requiring follow up work due to anomalous Au values in soil geochemistry

• +50ppb Au anomaly clearly visible and trending NW concurring with regional picture

Gourbassi West

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The Gourbassi West prospect lies approximately 3.7km WNW of Gourbassi East and appears to be analogous with its clear NNW striking zone of mineralisation associated with felsic volcanic rocks

Originally identified as requiring follow up work due to anomalous Au values in soil geochemistry

• +50ppb Au anomaly clearly visible and trending NW concurring with regional picture

A trenching program of 872m was completed across the geochemical anomalies and revealed significant lengths and continuity of mineralisation

Trenching revealed peak intercepts of• 28 metres @ 0.96 g/t• 33 metres @ 1.08 g/t

Gourbassi West

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Geophysics• IP Survey identified a highly anomalous

chargeable structure, which correlates to the NNW trending mineralisation seen in the trenches

RC Drilling• RC drilling, based on the anomalous trench

intercepts and IP structure, intersected significant mineralisation and areas of strong alteration and sulphidisation

Drilling revealed peak intercepts of:• 17 metres @ 2.05 g/t, including 9m @ 3.06

g/t• 6 metres @ 1.8 g/t, including 3m @ 3.01 g/t• 9 metres @ 0.79 g/t, including 3 metres @

1.9 g/t • Further proving the existence of NNW

mineralised structure coincident with interpreted IP anomaly as in Gourbassi East

Gourbassi West

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Short Term Work Program

•Drilling and trenching has already identified a mineralised zone with a strike length of almost 1km

•Open along strike to NNW and SSE, thus representing an excellent opportunity for discovering a significant ore body

•Mineralised RC holes are spaced 400-600 m apart and require infill drilling

•4 RAB Fences planned to test width, length and continuity of mineralised structure

•RC holes planned to prove continuity and depth of mineralisation

•50 line km’s of ground magnetic survey to better understand and trace the mineralised structure

Gourbassi West

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Massakama Prospect

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Massakama

Massakama is characterised by both felsic volcanics and mafic to felsic intrusions

Mineralisation is associated with quartz veins orientated NNW and along the sheared contacts between intrusive bodies and the host rock

The area was initially identified by highly anomalous zones of Au in soil geochemical signatures:

• multiple extensive +50ppb contours• recent soil sampling reveals more

concentrated +100 ppb zones

Extensive artisanal workings throughout the area demonstrate good recovery of high grade material from surface to 10m depth

• 1st Priority: Massakama Main Zone

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Work has largely been focused on the Massakama Main Zone where the most encouraging results have been located

The potential for mineralisation was first indicated by an area of +100 ppb Au-in-soil anomaly where artisanal workings revealed mineralised silicified green rhyolite

AME’s first pass ground magnetic geophysics survey identified a significant low magnetic anomaly coinciding with the soil geochemical signature

Trenching

Trenches were completed over soil geochem anomalies and proved the presence of in situ gold mineralisation

Significant intercepts included:• 22m @ 0.74 g/t, including 1m @ 3.25 g/t• 36m @ 0.55 g/t, including 6m @ 1.2 g/t

Massakama main zone

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RC Drilling

RC drilling was completed in 2007, with collar locations based on previous trench results

Low-grade mineralisation was seen throughout the 22 RC holes, with one ‘bonanza’ hole, MRC8, returning a very high intercept of 16m @ 9.5 g/t close to surface

Drilling has indicated mineralisation is associated with the partial replacement of gold-bearing pyrite and chalcopyrite within strongly silicified intrusives

Subsequent drilling close to MRC8 produced confirmation of significant mineralisation:

• 8m @ 18.5 g/t, including 2m @ 43 g/t• 8m @ 1.5 g/t, including 1m @ 3.82 g/t• 2m @ 15 g/t

Thin section analysis suggests a possible skarn-type mineralisation, different from the typical shear zone hosted gold of the Birimian

Massakama main zone

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Interpretations

Previous work has discovered encouraging gold grades but the mineralisation at Massakama is still not fully understood

The good intersections of high grade in the RC holes are sufficient to warrant thorough exploration

Association between soil geochemical anomalies, in situ mineralisation and a strong magnetic low seen in the ground magnetic survey indicates an encouraging correlation for the locating of other targets in the Kossanto area

Work Program

Detailed geological mapping of the Massakama area, accompanied with re-logging of the RC chips to fully understand the geology of this zone

Ground magnetics to locate and trace the structural control on mineralisation

1200m of RC drilling based on the findings of this

Massakama main zone

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Primary exploration capability• In-house equipment

– Rotary Air Blast / Auger drilling rig– Logistics and support vehicles– Ground Magnetics equipment and analysis tools– Mobile tented exploration camps, with ancillary equipment

• Experienced team with discoveries under their belt• Possibly the best reconnaissance capability for a West African junior

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Summary

• Small but well placed Junior exploration company• Good technical people• Well funded• In-house primary exploration capability• Good prospects for a maiden resource in the

Kossanto block• Investigating additional asset opportunities in

neighbouring territories

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