Mining and Resource Investor Evening 13th September 2012

1. Mining and Resource Investor Evening 13th September 2012

2. Disclaimer 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. 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3. AME at a glance

6. 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

7. November 2010: AME established in Mali Acquired 100% interest in two licences in Mali: 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

8. 2012: AME consolidates Mali land-holding • Acquired 7 additional exploration licences 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 Donbaleya New project: 78 km2 Daounabere New project: 91 km2 Total of 642 km2

9. Karan 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

10. Karan Fintakourouni Mana 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 target 2 RAB fences planned to test peak RC drill intercepts of 6m @ 1.02g/t and 14m @ 0.51g/t Mana target 4 RAB fences planned to test low grade but extensive (up to 39m @ 0.21 g/t) mineralisation seen throughout the Mana RC holes Kouroudjin target 7 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 Kouroudjin

11. 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 Lambokono Wouriya Karan

12. Massakama Gourbassi East Gourbassi West Kossanto Project

13. Gourbassi Prospect East and West

14. GourbassiEast • 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

15. GourbassiEast • 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 • 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 detail

16. GourbassiEast • 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

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

18. GourbassiWest • 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

19. GourbassiWest • 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

20. GourbassiWest • 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

21. GourbassiWest • 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

22. Massakama Prospect

23. 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

24. Massakama main zone • 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

25. Massakama main zone • 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

26. Massakama main zone • 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

27. 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

28. 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