The Yamarna Gold Belt: Exploration Upside - Funded From Production ASX Small to Mid Caps Asia - May 2012

Disclaimer

1

Important Notices

Nature of this document: The purpose of this presentation is to provide general information about Gold Road Resources Limited (the ‘Company’). Unless otherwise stated herein, the information in this presentation is based on the Company’s own information and estimates. In attending this presentation or viewing this document you agree to be bound by the following terms and conditions.

Not an offer: This presentation is for information purposes only and does not constitute or form any part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction. This presentation and its contents must not be distributed, transmitted or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction.

Not financial product advice: This presentation does not take into account the individual investment objectives, financial situation and particular needs of each of the Company’s Shareholders. You may wish to seek independent financial and taxation advice before making any decision in respect of this presentation. Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company’s securities or any other financial products.

Forward-looking statements: Certain statements in the presentation are or may be “forward-looking statements” and represent the Company’s intentions, projections, expectations or beliefs concerning, among other things, future operating and exploration results or the Company’s future performance. These forward looking statements speak, and the presentation generally speaks, only at the date hereof. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks and uncertainties, and are necessarily based on assumptions, which may cause the Company’s actual performance and results in future periods to differ materially from any express or implied estimates or projections.

It is recognised that it is common practice for a company to comment on and discuss its exploration in terms of target size and type. All statements contained in this presentation by the Company which refer to the potential quantity and grade of the target is accompanied by a detailed explanation of the basis for the statement. The potential quantity and grade for the target is conceptual in nature and, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisers and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation, or any opinions or beliefs contained in this document, and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. The Company is under no obligation to update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

Unverified information: This presentation may contain information (including information derived from publicly available sources) that has not been independently verified by the Company.

Corporate Summary

24 month share price

Corporate snapshot Shareholders

Directors Ian Murray Executive Chairman Ziggy Lubieniecki Executive Director Russell Davis Non-exec Director (Founding) Kevin Hart Non-exec and Company Sec. Martin Pyle Non-exec Director David Woodall Non-exec Director

ASX Code GOR Issued Shares (undiluted) 390M* Unlisted Options 18M* Share Price A$0.195* Average daily volume ~2M Market Cap ~A$76M* Net Cash $18.5M#

*As at 18 May 2012 # As at 31 March 2012

Institutional

Retail

Directors/Management

As at 4 May 2012, # shareholders ~ 7,100 2

$0.00$0.10$0.20$0.30$0.40$0.50$0.60$0.70$0.80

Value Rational

Total JORC resource 1.1 m oz gold

Enterprise value $58m

EV/Resource oz

~$52 /oz (spot au price is $1,590/oz)

2011-12 drilling program 325,000 metres

# New Gold discoveries 13 within 30 months

# Gold Prospects >100

“Proving-up a New Gold Region” Central

Bore Upside

‒ 4 deposits on 6km2 area ‒ 3 new targets identified in 2012

Attila upside

‒ 4 deposits along 33km strike ‒ 5 new targets identified 2011/12

Yamarna Upside

‒ 1 of 4 Yilgarn Craton greenstone belts to breach earth’s crust

‒ Other 3 explored since 1880s - producing >150M oz au

Production upside

‒ Central Bore scoping study showed free cash > $40m

‒ Attila scoping study underway to support own plant

Significant Re-rating Potential Undervalued at Current Share Price

3

1 Yamarna Belt: A New Gold Region

5

13 new gold discoveries in 30 months

Pipeline of >100 prospects

Gold resource so far exceeds 1M ounces

<1% of 5,000km2 Yamarna Belt explored so far

Same age/character as prolific Kalgoorlie Belt

First to systematically explore Yamarna

Aim to be self-funded explorer from 2014

Yamarna Belt: A Major New Gold Region

5

Under-Explored Gold Region

“Greenstones of Yamarna Terrane are similar in age and character to

the Kalgoorlie Terrane” Geological Survey of Western Australia, Oct 2010

Kalgoorlie Belt has produced more than 120 million ounces of gold

GSWA report underlines view that Yamarna is a new gold region

Yamarna the fourth shear zone on the Yilagarn Craton

6 Map source: Geological Survey of Western Australia

Yamarna’s Huge Potential

Potential Pipeline of Gold Projects:

Aim to create a pipeline of production and exploration projects across Yamarna

Exceptional Exploration Success:

13 new gold discoveries over 30 months

>100 gold projects and prospects

150km between northern and southern most targets

Drilling currently focused on four priority areas:

Advanced Projects New Discoveries 1. Attila Trend 3. Dorothy Hills 2. Central Bore 4. Tobin Hill

7

2 Systematic Exploration Program

Systematic Exploration

Advanced Projects ~50,000m Aim to increase confidence in

and expand the JORC resource

10

New Targets ~100,000m Aim to move targets up

the pyramid

2012 Drilling Program

Focused Program

Well funded drilling program, multiple drill rigs

Aggressive, ongoing campaign

Proven core competence

Growing, experienced team

New Sub-Audio Magnetics (SAM) technology provides quick, accurate and cost effective results - generates and narrows down targets

11

3 Advanced Projects: • Attila Trend • Central Bore

Attila Trend - Drilling The Gaps

Original Resource – Underexplored Area

JORC resource of 917,000 oz Au

33km strike length

Drilling to increase the resource

Recent high-grade results in all 4 original deposits - Attila South, Attila North, Alaric & Khan

New Gold Discoveries since 2009

VTEM, Tatar, Hann, Western Ultramafics

High level of prospectivity across 33km strike

13

Central Bore Area

High-Grade Gold Area

Discovered by Gold Road in 2009

Found numerous deposits in 6km2 area:

Central Bore JORC resource 152,323 oz gold @ 9.1 g/t

Includes Imperial Shoot: 101,738 oz gold @ 19g/t – open at depth

Justinian

Byzantium (west of Central Bore)

Central Bore North

Central Bore South

3 New Gold Anomalies - 2012

14

Central Bore Long Section

Central Bore Project Resource: 519,000 t @ 9.1 g/t = 152,323 oz Au Includes Imperial Shoot Resource: 164,799 t @ 19.2 g/t = 101,738 oz Au

15

4 Self-Funded Explorer

Pathway to Production

17

Aim to be self-funded explorer from 2014 through production at Advanced Projects - Central Bore and Attila Trend

2014 2013 Now

Central Bore

Project

Resource drilling

Update Resource

Feasibility Studies

Construction/Production

Attila Trend

Resource drilling

Scoping Study

Update Resource

Feasibility Studies

Construction/Production

Underground mine plan Recoveries: Met ~97%, gravity ~50% Sufficient underground water

On a mining lease Multiple open pit opportunities along strike Resource expansion potential

Production Options

18

Own Production Plant

at Yamarna

Feed from Central Bore High-grade 80-100ktpa

Feed from other projects

Moderate grade ~150-170ktpa

Production projects

45-50,000

Mining options Gold production ounces per annum

Truck and toll treatment ~180km

20-25,000

5 New Gold Discoveries: • Tobin Hill • Dorothy Hills

New Gold Discoveries Since 2009

Central Bore Area 1. Central Bore (2009) 2. Justinian (2010) 3. Byzantium (2010) 4. Central Bore North (2011) 5. Central Bore South (2011)

Attila Trend 6. Hann (2010) 7. Tatar (2011) 8. VTEM (2011) 9. Western Ultramafics (2011)

Tobin Hill Area 10. Koopman’s Find (2012) 11. Dead Dog (2012)

Dorothy Hills Area 12. Dorothy Hills (2011) 13. Dorothy Hills North (2012) 20

Tobin Hill – New Gold Discovery

5.5 km south-east of Central Bore

Numerous nuggets found on surface

Dry blower located patch of coarse “jagged” gold

Exploration focus:

Dead Dog - 300m gold anomaly; grades up to 15 g/t Au (RAB)

Koopman’s Find - Rock chip sample 40.7 g/t Au; fine gold panned

21

Dorothy Hills - New Gold Discovery

23 km northeast of Central Bore

New gold anomalies identified

Large unexplored area - but highly prospective

Exploration focus:

Dorothy Hills - two gold anomalies, 1.4km and 1.8km

Dorothy Hills North - 1.5 km long gold anomaly; grades up to 6.37 g/t Au

Magnetics show a similar structure 7km northwest of Dorothy Hills North

22

6 Put into perspective

Outstanding new high-grade gold discoveries

New gold region: >100 gold targets identified

Continued aggressive drilling in 2012

Aim to be self-funded explorer from 2014

www.goldroad.com.au

Summary

25

The information in this presentation which relates to Exploration Results or Mineral Resources is based on information compiled by Ziggy Lubieniecki, an Executive Director of Gold Road Resources Limited, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Lubieniecki has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Lubieniecki consents to the inclusion in the presentation of the matters based on this information in the form and context in which it appears. The information in this report which relates to the Gold Mineral Resource estimates are based on geostatistical modelling by Ravensgate using sample information and geological interpretation supplied by Gold Road. The Mineral Resource estimates were undertaken by Don Maclean, a Principal Consultant. Mr Maclean is the competent person responsible for the Resource and is a Member of the Australasian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Maclean consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

26