2. DISCLAIMER
Certain statements contained in this presentation regarding the company and its
activities constitute forward-looking statements . All statements that are not historical
facts, including without limitation statements regarding future estimates, plans,
objectives, assumptions or expectations of future performance are forward-looking
statements . We caution you that such forward-looking statements involve known
and unknown risks and uncertainties that could cause actual results and future events
to differ materially from those anticipated in such statements. Such risks and
uncertainties include fluctuations in metal prices, unpredictable results of exploration,
uncertainties inherent in the estimation of mineral resources and reserves, fluctuations
in the costs of goods and services, problems associated with exploration and mining
operations, changes in legal, social or political conditions in the jurisdictions where the
company operates, lack of appropriate funding and other risk factors. There can be no
assurance that such forward-looking statements will prove to be accurate. Potential
investors should conduct their own investigation as to the suitability of investing in
securities of the company. Martin S. Oczlon, PhD Geo, is the qualified person for the
company as required by NI 43-101 (Canadian Securities Administrators). The company
undertakes no obligation to update any forward-looking statements . We seek Safe
Harbour. 2
3. Directors & Management
Jacob Willoughby — President & director. Joined board Feb 2010 & became president
at last annual meeting April 28th 2010
Jean-Pierre Colin — Chairman. Director since Oct 2010, also a director of Premier Gold
& Ursa Major Minerals
Dr. Martin Oczlon — CEO & director. Founder & largest individual shareholder
Daniella Dimitrov — Director & legal advisor. Joined board Oct 2010
Mark Monaghan — Director. Joined board April 2010
Barry Hildred — Executive director. Joined board April 2010
John F. Cook — Director. Joined board May 2011. Currently a director of Strategic
Resources Inc., MBMI Resources Inc., Southern Andes Energy Inc. and Cerro Resources Inc
Ed Guimaraes — Director. Joined board May 2011. Served as Executive VP & CFO at Aur
Resources prior to it being acquired by Teck Resources
3
4. Market Highlights (as at May 27, 2011)
Symbol Canada TSX-V: AGM
Frankfurt: AIW
Shares outstanding 37.1 million
Directors & Insiders about 15 %
Shares fully diluted 51.7 million (4.119 m options @ avg. strike of $1.43, 10.535 m
warrants @ avg. strike of $1.72)
52 week high / low C$ 2.25 / $0.52
Recent price C$ 1.28
Market cap C$47.5 million
Cash C$ 11.0 million
Top institutional RBIM, Colonial First State, US Global, Libra, Excalibur, Sprott,
shareholders JVAR and Creststreet 4
6. Turkey: A Great Place for Mining
Politically stable, pro-mining, non-bureaucratic
Excellent infrastructure roads, electricity, water, railways
New, modern and western oriented mining code (2004)
Low tax rate, tax incentives in our area, VAT re-payments
• 0.5-1 % effective royalty, 20 % corporate tax
One of the world s last under explored mineral-rich regions
Recent large discoveries include:
• EGO-T: Kisladag (254 Mt @ 0.95 g/t Au – 7.8 M oz Au = $10.7 B )
• ANO-T: Cöpler (90 Mt @ 1.87 g/t Au – 5.4 M oz Au = $7.4 B)
• ENK-ASX: Caldag (33 Mt @ 1.3 % Ni – 946 M lbs Ni = $9.8 B excluding Cobalt value)
• AGM-V: Yenipazar (+25 Mt @ 1.1 g/t Au, 33.8 g/t Ag +Zn+Pb+Cu = $4.3 B)
6
7. Yenipazar Open Pit Resources
Million Au Ag Cu Pb Zn
Tonnes g/t g/t % % %
Ind. 24.28 1.09 33.8 0.31 1.16 1.52
Inf. 0.22 0.49 22.7 0.30 0.71 1.16
Contained metal:
854,400 oz of Au, 26.6m oz of Ag, 819m lbs of Zn,
624m lbs of Pb and 167m lbs of Cu.
In-ground metal value at current prices:
Approximately US$4.3 billion.
NI 43-101-compliant resource estimate based on 370 drill holes
in an optimized open pit shell (Feb 2011)
7
8. Accomplishments in 2010
Raised C$5m in a private placement attracting the first institutional investors in
Aldridge (Jan - $1.00 unit with full warrant for two years at $1.50)
Restructured the board and management – 5 Directors out, 5 Directors in –
all new directors based in Toronto and have significant knowledge and experience
in Canadian capital markets
Revised our earn-in agreement with Anatolia on Yenipazar
Gained analyst coverage from Mackie Research and Clarus Securities, both
with target prices nearly 2x our current share price
Completed infill drilling and collected metallurgical samples
Completed 43-101 complitant PEA in December (commenced in mid July)
Relocated our corporate offices to Toronto from Vancouver
Hired IR groups Ascend Communication and Profinnotiv for NA and Europe
respectively 8
9. Yenipazar Key Parametres
Large land package — 100 km2 property that has seen very limited
exploration, level and low-relief, open terrain used predominantly for farming
Local support — Near-by village with pro-mining work force and strong
community support. Local unskilled labour rate is US$20/day – farmers earn
less than that. AGM has been working in the area since 2004.
Agreement with Anatolia — to earn 100 % interest. Anatolia
Minerals retains 6 % net proceeds interest (revenue minus operational cost)
until a total revenue of US$165m, and 10% beyond that amount
Commitment — Aldridge must deliver a feasibility to Anatolia. The
agreement remains valid without time limit, as long as Aldridge works
diligently towards completing feasibility study.
9
10. Project Details
Open pit project — volcanogenic massive sulphide (VMS) Zn-Pb-Cu-Au-
Ag deposit. Robust economics as demonstrated by our PEA.
Solid Resource Base — +24 Mt within an optimized open pit shell. This
puts Yenipazar in the 90th percentile of all known VMS deposits as far as size
Great Infrastructure — paved road next to the deposit, as well as
access to water. Power and rail within approximately 20 km
Unique characteristic — Large ore mineral grains due to
metamorphism – potentially more cost-efficient separation from host rock than
usual VMS-deposits
Deposit dimensions — roughly flat lying body should allow for flexible
mine sequencing to optimize early payback - 1700 m long, up to 300 m wide,
30-190 m deep, on average about 25-30 m thick. Still open, especially to the
north of the deposit
10
12. Scoping Study Highlights
Base Case NPV US$209m & IRR of 23.2 at 7% discount rate
• At 10% discount rate, NPV US$151m or $4.07per basic share, $2.93 a
share fully diluted. (Exercising all options and warrants brings in C
$23.5m)
• Base cases uses 3-year trailing average metal prices and 4.5:1 strip including
pre-strip and capex of US$198m for a 12 year mine life assuming 5,700 tpd mill
(2m tpa).
• Average payable production of 23,700 oz Au, 1.1m oz Ag, 10m lbs Cu, 37m
lbs Pb, 37m lbs Zn from diluted average grades of 1.02 g/t Au, 31.6 g/t Ag,
0.29% Cu, 1.1% Pb, 1.4% Zn
• Zn conc grades 55%, Pb conc grades 55% & 1025 g/t Ag, Cu conc grades
23% with 20 g/t gold & 337 g/t Ag
• Project payback in 3.9 years. LOM average NSR US$57.27/t, LOM average
total operating cost $29.65/t.
• At current metal prices NPV over US$554m and IRR of over 51.51%
12
14. Scoping Study Lowlights
Base case used results of ONE locked cycle flotation test
• Recoveries: Zn 59%, Pb 78%, Cu 77% - well below average for Zn – need to
be improved – Proper floatation study to be completed soon (60 – 90 days)
• Recoveries: Au 37%, Ag 57% - both should be improved. Have three separate
solutions to improve these.
• A doubling of gold recoveries would double the base case NPV (i.e. US
$302m at 10% or $8.14 / basic share)
• A 10% increase in recoveries of each of the 5 metals would result in a
52% increase in our base case NPV.
• Assumed smelter payability of Au and Ag in the Cu conc were only 90% and
80%; should get 95% for both
• Assumed payability of Ag in the Pb conc was only 85%; should get 90% - 95%
14
15. Price / Net Asset Value
0.0X
0.2X
0.4X
0.6X
0.8X
1.0X
1.2X
1.4X
Royal Nickel
Duluth
Aldridge
Curis
Hana
Noront Producer
Candente
PolyMet
Chieftain
Developer
Developer Average
Relative Valuation
Baja
Amerigo
Average
Iberian
Augusta
Mercator
Capstone
Quadra FNX
Taseko
General Moly
Far West
HudBay
PRICE / NET ASSET VALUE
Nevada Copper
Inmet
Breakwater
Thompson Creek
Mirabela
AGM consensus NAV $5.05, P/NAV = 0.24
Anvil
Producer Average
Comparable Base Metals Companies
Lundin
Katanga
Teck
Copper Mountain
Consolidated Thompson
First Quantum
Source: Net asset values based on research analyst consensus estimates; closing prices per Bloomberg as at May 12, 2011, WWCM presentation 2011
Equinox
16. Price / Net Asset Value
0.0X
0.2X
0.4X
0.6X
0.8X
1.0X
1.2X
1.4X
1.6X
1.8X
Aldridge
Geologix
Volta
Andina
Exeter
Aura Minerals
Senior
Victoria
Mineral Deposits
Brigus
Inter-Citic
Belo Sun
Dundee Precious
Intrepid Mines
Intermediate
Golden Star
St. Andrew …
Argonaut Gold
Northgate
OceanaGold
Junior
Vista
Romarco
Relative Valuation
Colossus
Sulliden
Junior Average
Average
Greystar
Trelawney
Novagold
Jaguar
Allied Nevada
Claude
Guyana Goldfields
San Gold
Aurizon
Detour
Timmins Gold
Avion
Minefinders
International …
Gabriel
Gammon
Alamos
Richmont
Kinross
Comparable Gold Companies
Rainy River
GOLD – PRICE / NET ASSET VALUE
Harmony
Osisko
Lake Shore
Barrick
IAMGOLD
Kirkland Lake
Yamana
New Gold
Senior Average
B2Gold
Newmont
Intermediate …
Goldcorp
Centerra
Newcrest
Randgold
Eldorado
Anglogold Ashanti
Source: Net asset values based on research analyst consensus estimates; closing prices per Bloomberg as at May 12, 2011, WWCM presentation 2011
Extorre
Agnico-Eagle
Alacer
Franco-Nevada
Royal Gold
17. Goals for 2011
Improve the recoveries of our metals
Discover new VMS bodies on our property surrounding Yenipazar
Hire on additional staff with experience overseeing polymetallic feasibility studies
Continue to add analyst research coverage
Significantly raise our profile among retail investors
Graduate to a TSX listing for the company (Initiated already)
Evaluate potential M & A opportunities and properties in Turkey
17
18. Yenipazar Drilling
• Deposit open to north, where holes
had to be abandoned before they
could reach the orebody.
• A number of RC-holes (seen on
map in yellow) are to be re-drilled
with a diamond rig because the hole
stopped in mineralization or
presumably earlier. This could
significantly add to our resources.
To be completed during feasibility
• For resource determination:
280 RC holes and 6 Diamond holes
were used of the total database of
371 holes (364 RC + 9 Diamond)
18
19. High-grade Intersections
Hole-No Interval (m) Thick-ness Au g/t Ag g/t Cu % Pb % Zn %
YP-149 92 126 34 m 5.78 93.4 1.11 2.72 3.90
YP-151 58 70 12 m 3.62 52.0 1.03 0.52 2.76
YP-151 74 100 26 m 6.35 52.5 1.62 1.18 2.79
YP-156 42 90 48 m 3.93 16.7 1.09 0.30 0.30
YP-156* 110 150 22 m* 0.46 26.9 0.15 0.81 1.39
YP-264 52 100 48 m 4.72 66.2 0.96 4.22 7.65
YP-282 82 114 32 m 2.93 82.1 0.97 3.10 4.84
*Cumulative thickness of 4 levels in 110-150 m interval 19
20. Recent Yenipazar Drilling News
Pairs of RC and
duplicated diamond
holes, 5 m apart.
* YPD-1 includes
112-114 m (61 g/t Au),
122-124 m (20.15 g/t Au),
124-126 m (12.5 g /t Au).
Capped at 10 g/t Au, the
average grade for the
diamond drilled interval
of 62-130 meters is 2.05
g/t Au.
20
21. Yenipazar Mineralization
Large mineral grains
at Yenipazar allow for gravitational pre-enrichment 21
22. Favourable Terrain
Shallow topography
is ideal for open pit construction 22
25. Future Milestones for Aldridge
Complete the floatation study to improve recoveries and determine which
smelters or off-takers to target with our concentrates – June/July
Restart drilling and conduct extensive geophysics at Yenipazar to upgrade
resources and to discover new deposits – Results by mid year
Commence a feasibility study at Yenipazar – May/June, Requires 12 to 18 mo.
Restart our PNG exploration work including initial drilling – April/May, Would
likely require 6 months
Graduate to the TSX and complete an AIF
25
26. Aldridge PNG – The Kili Teke Discovery
Recognized significant mineralization potential in one of the most prospective
areas of PNG between Porgera and Ok Tedi.
Acquired a 338 sq. km license awarded in Feb 2009. Received 3 requests from
majors to JV the property before any results published.
Identified two highly interesting mag anomalies similar to Porgera. AGM
completed a 4 week mapping and sampling campaign that outlined a Cu-Au system
within a 10 km alteration footprint, then followed up with further sampling.
Discovered a very large Cu-Au porphyry & skarn system named Kili Teke. The
sampling results here were far above our expectations with two rock samples
grading between 23% - 35% Cu with an average of 60 g/t Au and 238 g/t Ag; 13
samples grading from 1.0% - 12.9% Cu with an average of 0.44 g/t Au and 3.8 g/t
Ag; 28 samples grading from 0.3% - 1.0% Cu with an average of 0.39 g/t Au and 3.8
g/t Ag. Also had one sample grade 9.1% zinc.
26
27. Aldridge PNG License Area
ALDRIDGE MINERALS INC
Exploration License_2009-2-18
Base image source: PNG Mineral Resources Authority, Info-DVD distributed on PDAC 2009-3, Toronto 27
33. Directors & Management
Jacob Willoughby, President & Director
Jacob is a geologist with a Masters in Business Administration from the University
of Windsor and became president of Aldridge in April 2010. He joined the
board in February 2010. He was previously a partner and mining analyst at
Paradigm Capital in Toronto, a highly ranked investment firm with a
specialization in mining finance, where he worked for five years until choosing
to leave in March 2009. He is also a director of Foxpoint Capital Corp.
Dr. Martin Oczlon, CEO & Director
Dr Oczlon spent seven years during the 1990 s with BHP as senior exploration
geologist in SW Asia and SE Europe. He drilled the discovery holes for the
Reqo Diq Cu-Au porphyries in Pakistan, now with 21 Mt Cu + 37 Moz Au. From
1999-2002, he developed a private exploration company with a large project in
Romania and sold it at a 200% profit. Aldridge Director since 2003, responsible
for project acquisition, exploration and development
33
34. Directors & Management
Jean-Pierre Colin, Chairman
Mr. Colin began his career as an investment banker in 1980. Formally the Director
& Head of Corporate Finance at Octagon Capital Corp, he is currently providing
corporate strategy consulting services to CEO's of public companies. Previous
to his position at Octagon Capital, Mr. Colin was an investment banker with
Desjardins Securities Inc., Executive VP of Deacon Capital, and Senior VP of
Richardson Greenshields. He is also a director of Premier Gold and Ursa Major
Minerals. He is a Member of the Bar of the Province of Quebec and holds a
Master of Business Administration from the University of Western Ontario
Daniella Dimitrov, Director
Ms. Dimitrov has over 16 years of broad commercial and operational experience in
senior executive roles with major companies. She has held principal roles in
mergers, acquisitions, financings, corporate finance and joint ventures. Ms.
Dimitrov s former positions include Senior VP, Strategic Initiatives of Raymond
James Ltd., COO of Dundee Securities and Dundee Private Investors, General
Counsel for the Dundee group of companies and counsel at a national law firm.
She is also a director and vice chair of Baffinland Iron Mines.
34
35. Directors & Management
Barry Hildred, Director
Barry founded The Equicom Group in 1995 and remained its President until
October of 2009. In 2007, Equicom was acquired by the TSX Group. Mr.
Hildred also serves on the Board of the Children's Aid Foundation and is a
past member of the Ontario Securities Commissions' Continuous Disclosure
Advisory Committee.
Mark Monaghan, Director
Mark is a business consultant with 18 years of institutional equities and public
company experience. He has worked in various capacities including equity
sales, trading as well as investment banking at several brokerages including
TD Securities, Deacon Capital, CT Securities and Quest Capital. Has been a
strategic adviser and/or director to several publicly listed companies.
35
36. Directors & Management
John F. Cook, Director
Mr. Cook is a mining engineer with 45+ years of experience including
development of open-pit & underground mines, exploration, operations,
management, & feasibility studies. He was most recently President & CEO of
San Anton Resource Corp. & is currently a director of Strategic Resources
Inc., MBMI Resources Inc., Southern Andes Energy Inc. & Cerro Resources
Inc.. He was Chairman of Wolfden Resources Inc. until its purchase by Zinifex
Ltd in June 2007, and was Chairman of Premier Gold Mines Limited until
2010. Mr. Cook is a graduate of Sheffield University in mining engineering.
Ed Guimaraes, Director
Ed is a CA who held progressive management positions with Aur Resources
between 1995 and 2007, ultimately serving as Executive Vice-President,
Finance and Chief Financial Officer of Aur until December 2007. Aur was
acquired by Teck Resources Limited in a takeover valued at $4.1 billion in
August 2007. Mr. Guimaraes hasworked as a consultant in the resources
industry since that time and is currently a director of Nuinsco Resources
Limited. Mr. Guimaraes holds a Bachelor of Arts in Administrative and
Commercial Studies from the University of Western Ontario. 36
