MINEX London December 2, 2013

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MINEX London December 2, 2013

Disclaimer Statements and assumptions made in this Presentation with respect to Auriant Mining AB’s (“Auriant”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of Auriant. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect Auriant’s management's expectations and assumptions in light of currently available information. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecasted in this Presentation. Auriant do not assume any unconditional obligation to update any such statements and/or forecasts immediately.

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Global gold producers Gold production growth from 2007 to 2013

Key facts

tonnes

•  Russia is now the 3rd largest gold 270

China

+63%

440

producer and growing fast •  Anticipate becoming the 2nd largest

Australia

+3% 256

247

producer in the next few years •  Hundreds of gold deposits

Russia

163

+47%

240

•  Limited exploration undertaken since end of Soviet period

USA

239

Peru

184

RSA

272

Canada

Mexico

102

-4% 230

-9% 167

-39%

166

+24% 126

44 +123%

98

*Russian Union of Gold Producers Estimates 04/12/2013

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Russia Resource potential Chukotskaya

15.1 0.9 Ayakh-Yuryakhskaya and Yuzhno-Verkhoyanskaya

48.8 0.9

Kamchatskaya

6.4 0.1

Uralskaya

80.4

49.2

60 0.8

Yenisei Ridge

1.9

Bodaibinskaya Altae-Sayanskaya group

1.1

112.5

OkhotskoPrimagadanskaya Amurskaya

9.8 Zabaikalskaya

9.1

8.8

0.8

38.9 6.4

Gold production as of 2012, m oz

392

Total reserves С1+С2, as of 2011, m oz

1.2

Sikhote-Alinskaya

Source: Russian Union of Gold Producers 04/12/2013

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Russia Gold investment climate •  Transparent and stable tax system for miners (no changes for > 10 years) •  Predictable regulatory frameworks around mining operations •  At current production rates Russia has sufficient reserves for 65 years (assuming no additional exploration) •  The largest existing gold deposits being exploited by the largest miners, however there are a lot of opportunities for exploration and development of new projects •  Only 5 junior public gold companies are operating in Russia (out of a global total of 4 000 listed junior firms) •  Little or no access to equity markets for Russian juniors – mostly private capital and bank financing

04/12/2013

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Russia Gold investment climate - Misconceptions Common Investor Misconceptions •  ‘Everything is increasingly state controlled’ – There are no large state owned gold miners. No gold equivalent of Rosneft or Gazprom. Russian government does not view gold as ‘strategic’. •  Very high political risk – Political risk for gold miners in Russia is no higher (if not actually lower) than other popular gold mining jurisdictions - Central Asia, Africa, Mongolia, China, etc. No examples of expropriations of gold miners. Government welcomes investment (including foreign) into gold. •  Large gold deposits off-limits to foreigners – Any gold deposit over 50 tonnes (1.6 Moz) is supposed to be exploited only by Russian entities. In practice it is relatively easy to obtain an exemption – e.g. Kinross reserves of 2.4 Moz at Kupol.

Not all Russian natural resources are the same! 04/12/2013

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Russian gold mining industry snapshot Top Russian gold producers (as of 2012) tonnes

52.3 Public companies

22.1

18.3

18 10.2

Polyus Gold

Petropavlovsk

Polymetal

49

Non-public companies

Kinross

Nordgold N.V.

6.7 Highland Gold Mining

2.1 Other Public

6.5

5.2

3.9

Uzhuralzoloto

GV Gold

Sovrudnik

3.7

Susumanzoloto >400 private companies

Public companies represent 64.8% of total production Production structure

• 

1.1% Junior public producers Top-6 (All public)

•  35.2% 63.7%

•  Non-public companies (>400)

04/12/2013

Auriant Presentation

Relatively little production given Russia’s very large gold reserves Very few public junior miners (only 3 producers) Lots of opportunities for consolidation, especially among non-listed companies 7

Junior public gold miners in Russia Junior miners by market capitalization $ mln

Key facts

26.7

•  Current junior producers ~1% of total production

22.4

•  Growing sector •  Auriant Mining accounts for 12.4

>30% of production in 6.9

this sector 4.5

•  Auriant anticipates threefold production growth

Trans-Siberian Gold

Auriant Mining

Ovoca Gold

Mangazeya Mining

Kopy Goldfields

AIM

Stockholm NASDAQ OMX First North

AIM

NEX

Stockholm NASDAQ OMX First North

9m 2013 Production

9m 2013 Production

Feasibility

9m 2013 Production

Exploration

21,256 oz

27,135 oz

within 3 years

n/a

Auriant is a fast growing player in a fast growing sector 04/12/2013

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Junior public gold miners in CIS Junior CIS miners by market capitalization

Key facts

$ mln

•  Auriant Mining is one of a 194.0

small handful of producing juniors in CIS •  Auriant Mining looks strictly undervalued to its peers, both producing and 40.8

Kryso Resources

Chaarat Gold

33.5

Hambledon Mining

22.4 Auriant Mining

non-producing 7.5 Manas Resources

AIM

AIM

AIM

Stockholm NASDAQ OMX First North

ASX

Tajikistan

Kyrgyzstan

Kazakhstan

Russia

Kyrgyzstan

Feasibility

Producing

Producing

Feasibility

Feasibility

04/12/2013

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Auriant Mining overview General information

Shareholder structure

Auriant Mining AB is a Swedish junior mining company focused on gold production in Russia Gold Reserves – 32 tons (1 Moz) according to Russian C1+C2 categories 2012 production – 642 kg 9m 2013 production– 844 kg 2013 expected production – 1,000 – 1,200 kg Headquartered in Stockholm, Sweden Auriant Mining is listed at NASDAQ OMX First North Premier Auriant Mining AB is one of only few publicly listed junior mining companies in Russia Plans to triple production within 3 years

Capital structure $m

95

Management shareholding

34

•  As of March 2013 Auriant Mining management holds 493 996 shares – 2.8% of total

38

23

•  Total amount of warrants holds by company’s management is 1,057,210 •  Total management shareholding on a fully diluted basis - 8.31%

Enterprise Value 04/12/2013

Bank Debt

Shareholder Debt

Equity

Auriant Presentation

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Three-fold strategy

Mid to long term Position Auriant as a consolidation vehicle for Russian gold mining sector

Short to mid term Exploration of highly prospective areas (>900 km2) within current licenses to increase company reserves

Short term Focus on existing production and cost efficiency – ramp up to capacity of 2 tonnes (64,000 oz) per year by 2015

04/12/2013

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Core Assets Market position

Asset location Auriant Mining AB (Stockholm)

SENIOR

Auriant Management (Moscow) Stage

MIDCAP SMALL PRODUCERS

Tardan Solcocon Kara-Beldyr JV

JUNIOR/ DEVELOPMENT

Production Production / Exploration Uzhunzhul

Scoping Study

Uzhunzhul

Exploration

Greater Tardan

Exploration

Tardan and Greater Tardan

Organizational structure

Auriant Mining is a junior producer with:

«Auriant Management» LLC (Moscow)

• 

A solid pipeline of projects

• 

Increasing operating cash flows to support exploration

• 

A core team with international experience in the gold mining industry

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Solcocon Kara-Beldyr JV

«Uzhunzhul» LLC (Khakassiya)

«Tardan Gold» LLC (Tyva)

Auriant Presentation

«Rudtechnologiya» LLC (Zabaikalye) Auriant Mining AB

«Kara-Beldyr» LLC (JV) (Tyva)

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Tardan mine Key facts •  Reserves: Au 6.9 t @ 3.42 g/t •  Capacity: Au 43 koz p.a. •  Plant throughput – 600 kt p.a. •  Current recovery 67% •  Gold production 2012 – 412 kg •  Production plan for 2013 – 600 kg •  Exploration 2013 – 20,000 m of diamond drilling to increase mine life (completed)

Pit contours

04/12/2013

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Solcocon mine Key facts •  Reserves Au 15 t @ 6.5 g/t •  Production capacity 0.5 t/year •  Recovery rate 59% •  Gold hard rock produced 2012 – 116 kg •  Exploration on flanks to increase reserves •  Alluvial production estimate 200-250 kg p.a. over the next 5 years

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Kara – Beldyr exploration Key facts

This zone contains 500,000 oz of resources

Auriant Presentation

• 

Auriant holds 30% in JV with Centerra Gold

• 

Centerra is a proven operator

• 

NI 43-101 resources of 500,000 oz @ 2.4 g/t

• 

Exploration completed. Expect increase in resources

• 

License valid till 2027

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Uzhunzhul exploration

Uzhunzhul license (Auriant) •  Ore bodies outlined at Jurkovskoye area as a result of 2010 limited exploration program

14.2 km

Chazy-Gol Heap Leaching Mine (Golden Star Co.)

Key facts • 

Well-developed infrastructure in the region

• 

Many gold producers nearby

• 

License valid till 2031, total area 134 km2

• 

Drilling targets identified for 2013 exploration program

Short term strategy–production ramp-up and focus on efficiency Auriant Mining Gold production 1,800-2,000

kg forecast Alluvial

1,000-1,200

Solcocon Tardan

642 410

04/12/2013

57 %

114 116

76 238 96

412

2011

2012

2013

• 

Cost control and efficiency key focus

• 

Tripling gold production in 3 years

• 

On course to become largest junior gold producer in Russia

04/12/2013

Auriant Presentation

2015

17

Quarterly production growth kg

1,000 - 1,200

594

642

172

78

259

36

42

305 2013

Q1 Q2 Q3

2012

Q4 Full year

•  • 

The Group met production targets for 9m – total production was 844 kg (27,125 oz). The Company is on track to achieve previously announced production targets for the year Q3 2013 production was 594 kg (19,097 oz) – more than in 9m 2013 (337 kg or 10,834 oz)

04/12/2013

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Juniors market performance against index 60% 40% 20% 0% -20% -40% -60% -80% -100% -120%

Market Vectors Junior Gold Miners ETF

Auriant Mining AB

Mangazeya Mining Ltd.

Trans-Siberian Gold plc

Auriant Mining retains value better than peers and junior gold miners index 04/12/2013

Auriant Presentation

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9m Summary •  9m gold production increased by 150% compared with previous year •  Q3 production was 594 kg (19,097 oz) – more than 9m 2012 (337 kg or 10,834 oz) •  Tardan production on track, Alluvial production exceeded targets, Solcocon underperforming targets •  On track to achieve target of 1 - 1.2 tonnes of gold in 2013 •  Positive EBITDA for 9m of MSEK 8.163 (US$ 1.256 m) •  First time positive quarterly Profit before Tax of MSEK 19.699 (US$ 3.006 m) •  Exploration drilling at Tardan is complete •  Refinancing of debt in progress 04/12/2013

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Thank you

Max Yacoub CIO and IR [email protected]

04/12/2013

Auriant Mining AB Tulegatan 2 A, 113 58 Stockholm, Sweden Tel: +7 495 660 2220 www.auriant.com

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