KOZA GOLD COMPANY

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KOZA GOLD COMPANY

• OCTOBER 2006
• TURKEY

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KOZA GOLD OPERATIONS

• A- OPERATIONS
• OVACIK GOLD MINE
• (200,000 ons/yr Gold Productions)
• B- PROJECTS
• MASTRA GOLD MINE
• (150.000 ons/yr Gold Productions)
• KUCUKDERE OPEN PIT
• (80.000 ons/yr Gold Productions)
• C- FUTURE PROJECTS
• KAYMAZ GOLD MINE
• (248.000 ons total resource)
• GICIK PROJECT
• D-SUBSIDARY
• OZDEMIR ANTIMONY MINE

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KOZA GOLD EXPLORATIONS

• TURKEY
• OVACIK REGION
• WESTERN TURKEY
• CENTRAL EASTERN TURKEY
• ABROAD
• GHANA (WESTERN REGION)

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TOTAL LICENCES
KOZA GOLD TOTAL LICENCES KOZA GOLD TOTAL LICENCES KOZA GOLD TOTAL LICENCES
  Number of Licences Total Hectares
WESTERN TURKEY WESTERN TURKEY WESTERN TURKEY
EXPLORATION 39 48448,71
OPERATION 3 11021,63
EXPLORATION (OVACIK) 8 9527,53
OPERATION (OVACIK) 4 47720,77
TOTAL 54 116718,64
CENTRAL TURKEY CENTRAL TURKEY CENTRAL TURKEY
EXPLORATION 12 12022,88
OPERATION 4 16099,60
TOTAL 16 28122,48
EASTERN TURKEY EASTERN TURKEY EASTERN TURKEY
EXPLORATION 13 4457,28
OPERATION 1 3536,81
EXPLORATION (MASTRA) 10 7272,78
OPERATION (MASTRA) 3 6771,50
TOTAL 27 22038,37
TOTAL TOTAL TOTAL
TOTAL 97 166879,49
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Kozagold Operations and Projects

MASTRA
GICIK
KAYMAZ
KÜÇÜKDERE
OVACIK
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OVACIK FLOW SHEET
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ENVIRONMENTAL MANAGEMENT
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ENVIRONMENTAL MANAGEMENT

• Rehabilitation works
• Plantations of olive and pine nut trees
• Good quality - olive oil
• Co-existence of Gold mining activities
• and olive plantations.

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LEGAL AND PERMITTING STATUS

• OVACIK GOLD MINE
• Mine operates since May 2005 after renewal of all
  necessary permits.
• There are three main ongoing cases in Admin
  Courts of Izmir and in Supreme Court in Ankara.
• These are related to the below permits
• Environmental Impact Assessment
• Continuous Operation Permit
• Land Zone Permit
• MASTRA GOLD PROJECT
• Environmental Impact Assessment is ongoing
• Negotiations on land purchases
• KÜÇÜKDERE OPEN PIT
• Continuous Operation Permit

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OVACIK GOLD MINE
KOZA GOLD
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Geology Map of Ovacik Mine
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Ovacik Total Resource
Stockpiles include ore in Measured, Low Grade in
Indicated Resource
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Ovacik Reserve Summary-Dec 2005
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STAGE -4 PIT DIZAYN

OPEN PIT-STAGE 4 PIT
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Ovacik Mine Ore Production
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Ore Milled vs Ore Mined
DECEMBER 31st 2004-DECEMBER 31st 2005
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MASTRA PROJECT
Mastra Resource and Block Model
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Mastra Resource
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Mastra Project
Environmental baseline study completed EIA
Reports study continue with SRK Layout and Earth
work Conceptually designed. Ovacik flow sheet
modification continue with SGS. Mine designs
completed by AMC.
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KUCUKDERE PROJECT
Kucukdere Block model and Resource
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Kucukdere Resource

KUCUKDERE RESOURCE- DECEMBER 2005 KUCUKDERE RESOURCE- DECEMBER 2005 KUCUKDERE RESOURCE- DECEMBER 2005 KUCUKDERE RESOURCE- DECEMBER 2005
  Tonnes Au (g/t) Au ozs
Kucukdere 1.406.000 4.92 223.000
-Kucukdere blok model done by AMC and cut off 3
g/t Au
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Kucukdere Open pits

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KAYMAZ PROJECT
Kaymaz Block Model and Resource
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Kaymaz Resource

KAYMAZ RESOURCE- DECEMBER 2005 KAYMAZ RESOURCE- DECEMBER 2005 KAYMAZ RESOURCE- DECEMBER 2005 KAYMAZ RESOURCE- DECEMBER 2005
  Tonnes Au (g/t) Au ozs
KAYMAZ 1.169.00 6,6 248.050
- Kaymaz blok model done by TUPRAG and cut off 3
g/t Au
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TOTAL RESOURCE AND RESERVE
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EXPLORATIONS

• 1-Ovacik Regional Explorations
• 2-Western Turkey Explorations
• 3-Central Turkey Explorations
• 4-Eastern Turkey Explorations
• 5-Ghana Explorations

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OVACIK REGIONAL
1.M Vein West 2.Narlica 3.Dedetepe 4.Kucukmagara 5
.Fila Tepe 6.Uyuzkaya Tepe 7.Gelin
Tepe 8.Kapikaya 9.Kaplan
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WESTERN TURKEY

• 1-KARADAG ANOMALY
• High Sulphidation, in addition to extensive
  silisification Au bearing stockworks and barite
  and sulphide-bearings veins are present
• 2-KIRCA ANOMALY
• Low Sulphidation/Sedimant Hosted, carried out
  extensive sampling within the licence and
  collected 14 BLEGs, 32 stream sediment and 91
  rock samples the latter returning values up to
  5.3ppm Au
• 3-KIZILCUKUR ANOMALY
• Low Sulphidation, On the south , strong Au,
  Ag, Sb, Pb, Zn results indicating higher level
  of epithermal system, rockchip samples are
  highly anomalous in the range 0,5 to 8.0 g/t
• 4-KUCUKDERE
• Low Sulphidation/High Sulphidation

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WESTERN TURKEY
LICENCED AREAS
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CENTRAL TURKEY

• 1-KAYMAZ PROSPECT
• Epithermal system Several phases of
  silicification and brecciation. Signification
  gold grades of up to 6 g/t.
• 2-SOGUT ANOMALY
• Carlin Style Mineralizations Extensive old Au
  workings where mineralisations appear to be
  associated with quartz-calcite veinlets
  penetrating limestone, or with quartz-clay-limonit
  e schists stockworked by calcite veinlets,or
  earthy-limonitic clay,yielding gold values in the
  range 0.5 to 22 g/t
• 3-HIMMET DEDE ANOMALY
• Carlin Style Mineralizations Widespread
  distribution of Au,Sb,As,Hg and W in these
  anomalies hosted by the limestone close to a
  major tectonic boundary may represent Carlin-Type
  Au mineralisation gold values up to 0.9 g/t.

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Central Turkey
LICENCED AREAS
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EASTERN TURKEY

• 1-MASTRA WEST
• Low Sulphidation, Extension of 2 major quartz
  veins. from drill hole (MD61) 3.35m_at_10.74 g/t Au
• 2-TORUL PROSPECT
• Low Sulphidation, Of the order of 24 grab
  rockchip samples are highly anomalous in the
  range 0,5 to 9,4 g/t with 7 samples gt4 g/t
• 3-ERCIS ANOMALY
• Porphyry Related, Results are pending.

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Eastern Turkey
LICENCED AREAS
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GHANA EXPLORATIONS
GEOLOGY MAP OF GHANA
MAGNETIC MAP OF GHANA
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GHANA LICENCE AREA
KOZA GOLD
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Soil Geochem Results
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CONCEPTUAL 10 YEARS LIFE OF MINE
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FINANCIAL STATISTICS
Financial Statistics based on Conceptual LOM Financial Statistics based on Conceptual LOM Financial Statistics based on Conceptual LOM Financial Statistics based on Conceptual LOM  
         
. Financial Data Financial Data    
    Average Gold Price 600.00  
    Average Cash Cost 264.98  
    Total Cash Costs 632,296,080  
    Gold production oz 2,386,228
. Revenue Revenue 1,431,736,553  
. Free Cashflow Free Cashflow 664,740,473  
. NPV of Free cashflow NPV of Free cashflow 420,548,622  
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CONCEPTUAL 10 YEARS LOM BY YEAR

• Operations LOM

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OPERATIONS CONCEPTUAL 10 YEARS LOM

• Operations LOM

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TOTAL CONTAINED OUNCES
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REVENUEOPEXCAPEX