The Chaarat Project

The next major Tien Shan Gold Mine

Disclaimer THIS DOCUMENT HAS BEEN PREPARED BY CHAARAT GOLD HOLDINGS LIMITED (THE “COMPANY”) SOLELY FOR USE AT PRESENTATIONS. THE COMPANY’S PRINCIPAL ACTIVITY IS THE EXPLORATION FOR AND DEVELOPMENT OF GOLD AND OTHER METALS IN THE WESTERN PART OF THE KYRGYZ REPUBLIC. THE SECURITIES REFERRED TO IN THIS DOCUMENT ARE HIGHLY SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK AND SHOULD NOT BE PURCHASED BY PERSONS WHO CANNOT AFFORD THE LOSS OF THEIR ENTIRE INVESTMENT. THE COMPANY’S SECURITIES HAVE NOT BEEN REGISTERED AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY U.S. STATE SECURITIES LAWS AND MAY NOT BE OFFERED AND SOLD IN THE UNITED STATES EXCEPT WITH A REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT. 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• One of the largest high grade undeveloped deposits in the world

• Prefeasibility Study published in 2011 indicated cash costs of below $600 per

ounce and a net present value after tax of $350m at a gold price of $1250 per ounce and a discount rate of 8%, ($1.40 or 90p per share)

• Preparation of a Definitive Feasibility Study will follow additional drilling and development work

• Chaarat targets production in excess of 200,000 ounces of gold per annum

• Negotiations are taking place with possible strategic partners or acquirers

The Chaarat Gold Project – the value proposition

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Resource large and high grade Management team track record of delivery Kyrgyz Republic stability and rule of law The Project access to power and transport

Why invest in the Chaarat story?

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The Tien Shan Gold Belt Location – world class gold trend

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Kyrgyz Republic – a mining country

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2011 - a JORC compliant resource of 5.59 Moz @ 4.08g/t calculated by Wardell Armstrong International Reserves – calculated by AB Global 2012 - minimal drilling programme increased the resource to 5.76 Moz at a grade of 4.03 g/t (JORC compliant - in house calculation)

2013 - additional 11,000 metres of exploration drilling to improve “quality” of resource. Size of resource likely to increase.

Resource – large and high grade

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Size and Grade – one of the best

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Source: Scotia Capital. Data as of 07/30/12.

Senior Management Team

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Dekel Golan – CEO and Chief Executive Formerly African Plantations Corp and Apex Silver Asia Marcel DeGuire – Director Supervising Definitive Feasibility Study 40 years mining experience – Apex Silver (San Cristobal) Newmont (Zarafshan) Alex Novak – Country Manager, Bishkek office 25 years in business in Russia, the Kyrgyz Republic and Kazakhstan Linda Naylor – Finance Director Formerly Audit Partner and Nominated Adviser with Grant Thornton UK, focusing on junior mining companies Turat Usubaliev – Deputy Director Chaarat Zaav Responsible for community relations – Kyrgyz national Sunit Patel – VP Geology 24 years of exploration experience

Mining industry is key to the economy dependent on foreign investment, improving balance of power between government and industry World Bank Doing Business 2013 study ease of doing business ranks above • Turkey • Mongolia • Philippines

Operating in the Kyrgyz Republic

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Gold Fields calls the country “the new frontier”

Centerra Gold operating at Kumtor for 16 years without interruption set to establish 50:50 joint venture with Government

Effective 1 January 2013

Tax regime in the Kyrgyz Republic

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Royalty 5% of revenue Sales tax 2% of revenue Local infrastructure contribution 2% of revenue

Total fixed rate = 9%

Revenue based tax depending on price of gold at $1301-1400 per ounce = 3%

TOTAL = 12% of revenue

Three stage process: 1. Discovery - filing of the resource - payment of “bonus” calculated on size of resource

2. Mining licence - granted for 20 years with agreement which requires the completion of the local equivalent of a feasibility study

3. Mining licence - following approval of feasibility study granted for the life of mine

20 year mining licences already granted for the whole Chaarat deposit

Tulkubash + (Main + Contact)

Licence regime in the Kyrgyz Republic

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Infrastructure - Access

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The Kyrgyz Republic is a net exporter of power to its neighbours

Cost of power – amongst the lowest in the world – based on hydro electricity

Agreement signed with National Grid (NESK) - 25MW allocated to Chaarat – enough for production of 200,000 ounces of gold per annum

Xinjiang Electric Power Design Institute has completed survey and design work - land allocation almost complete - permission to commence construction in parallel to design also granted Once commissioned there will be a significant saving in operating costs

Infrastructure - Power

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Time Line to Production

2013 2014 2015 2016 2017

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Data collection for the DFS

Compilation of the DFS

Local permitting land allocation ESIAS completion

Financing

Construction

Operation and production

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Chaarat will adopt IFC performance standards

On-going support of local communities by infrastructure development healthcare education / skill building job creation community facilities micro-finance

Regional Consultation Group established to facilitate communication and consultation with local communities

Corporate social responsibility

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Additional Exploration Assets

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Chontash – copper-moly-gold porphyry deposit • Potential for large scale deposit • Maiden resource 2011

Mironovskoye – polymetallic deposit (copper gold silver)

• Awarded mining licence • Feasibility Study commissioned to attract development partner • Close to infrastructure

Kyzil Ompul – Iron Oxide Copper Gold (IOCG) deposit

• “Olympic Dam” type geology with numerous small size deposits of Au, Cu, Mo, Pb and U

• Possible presence of an underlying “source” – an IOCG deposit

Share Information Chaarat snapshot

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Major shareholders at 22 September 2013

Management 13.12%

China Nonferrous Metals Int’l Mining Co 8.97%

First State Investments 8.66%

Fasanara Capital 7.33%

BlackRock 4.79%

UBS as principal 3.96%

Baker Steel Capital Managers 3.63%

Mr Gary Mellon 3.10%

AIM Ticker CGH

Shares outstanding 250.5m

Fully diluted 267m

Market Cap @13p £32.5m

Cash at 1 October 2013 £10m

EV/oz pre development US$ 6/oz

Recapping

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Large licence area in Western Kyrgyz Republic

5.76 Moz JORC resource delineated at the end of 2012

season

Ore bodies are open along strike and down dip with

many more targets undrilled

Definitive Feasibility Study to substantiate the value and potential of

the Chaarat deposit

Search in progress for strategic partner

www.chaarat.com

info@chaarat.com

Contact

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Chaarat Gold Holdings Limited +44 (0)23 800 11747

Dekel Golan (CEO)

Linda Naylor (FD)

Numis Securities +44 (0)20 7260 1000 John Prior James Black