METALQUEST MINERALS INC.

Small scale independent miners are active throughout the world and dependent on their activities to secure their livelihood. Their current processing options include: on-site gold recovery with mercury amalgamation; crude, inefficient and expensive small scale grinding and cyanide leaching, or, trucking at the miner’s cost to processing facilities. The Peruvian Government estimates at least 6500 small scale independent miners are currently producing approximately 3,000 tons per day of high grade gold ore from near surface epithermal vein systems in northern Peru. There are no significant ore processing facilities in the region. Many Peruvian miners are currently trucking 400 – 600 tons a day of this ore roughly 1400 kilometers for processing at a cost of $80-$100 per ton. The Story 1

Canada Gold will Design, Build, Own and Operate a Peruvian Toll Gold Processing Plant in northern Peru. 300 tons/day initial capacity. 12 months to build facility. The Opportunity 2

1. Independent small-scale miners deliver ore to the Canada Gold processing plant. 2. Canada Gold purchases the ore based on the assayed gold content with deductions for processing costs (including capital recovery), plant recovery losses, selling costs, etc. Canada Gold processes the purchased ores through a state-of-the-art metal recovery plant. Other metals (e.g. silver, copper, lead, zinc, etc.) are recovered and sold for additional credits, if present in the ore. 5. Gold metal (dore) is poured on-site and shipped by a third-party security firm for sale or further refining. The Process 3

1. Independent small-scale miners deliver ore to the Canada Gold processing plant.

2. Canada Gold purchases the ore based on the assayed gold content with deductions for processing costs (including capital recovery), plant recovery losses, selling costs, etc.

Canada Gold processes the purchased ores through a state-of-the-art metal recovery plant.

Other metals (e.g. silver, copper, lead, zinc, etc.) are recovered and sold for additional credits, if present in the ore.

5. Gold metal (dore) is poured on-site and shipped by a third-party security firm for sale or further refining.

Primary revenues will be generated from the Toll Processing fee ($/ton) paid by the miners and the spread between Payable Metals (what is paid to the miners) and Recovered Metals (what is recovered in the plant and sold). There are three proposed profit centers for the facility: Gold Sales – Based on spot price when buying and selling with deductions to cover gold price fluctuation risk and exchange rate risk. Processing Fees – Adjusted to changes in gold price (price participation) and includes refining and selling costs, and, Sales of other Recoverable Metals – Seller is paid only for gold content, any recovered silver or base metals (copper, molybdenum, zinc, lead, etc.) is to the account of the toll processor. Business Model 4

Primary revenues will be generated from the Toll Processing fee ($/ton) paid by the miners and the spread between Payable Metals (what is paid to the miners) and Recovered Metals (what is recovered in the plant and sold).

There are three proposed profit centers for the facility:

Gold Sales – Based on spot price when buying and selling with deductions to cover gold price fluctuation risk and exchange rate risk.

Processing Fees – Adjusted to changes in gold price (price participation) and includes refining and selling costs, and,

Sales of other Recoverable Metals – Seller is paid only for gold content, any recovered silver or base metals (copper, molybdenum, zinc, lead, etc.) is to the account of the toll processor.

No exploration or mining risk. Total revenues increase with gold price appreciation due to price participation and the value of the recovery spread. Local communities are resistant to large scale mining in order to preserve the small scale mining industry, making a toll processing plant ideal for these communities. Features 5

No exploration or mining risk.

Total revenues increase with gold price appreciation due to price participation and the value of the recovery spread.

Local communities are resistant to large scale mining in order to preserve the small scale mining industry, making a toll processing plant ideal for these communities.

A comparable company is processing approximately 180 tons per day of 0.87 oz/ton gold (2008) in southern Peru and has been generally utilizing proceeds to further exploration efforts. The plant is in south Peru, on the other side of the Country. CanadaGold will build a new, scalable facility in close proximity to the active small scale mining areas of northern Peru. There are currently no significant processing facilities in northern Peru. Comparables 6

A comparable company is processing approximately 180 tons per day of 0.87 oz/ton gold (2008) in southern Peru and has been generally utilizing proceeds to further exploration efforts.

The plant is in south Peru, on the other side of the Country.

CanadaGold will build a new, scalable facility in close proximity to the active small scale mining areas of northern Peru.

There are currently no significant processing facilities in northern Peru.

A diverse team with decades of experience in International mining, operations, engineering, construction, production, environmental controls, government relations, corporate finance, accounting, and communications. The Management Team 7

DAVE MCMILLAN - Executive Chairman With over 40 years in the resource industries, Dave’s career has spanned manufacturing, marketing, sales and financing, including 17 years as an investment advisor as VP, Senior VP, Director, and member of the Executive Committee for Yorkton Securities and Yorkton Holdings Inc. Dave holds board positions on several publicly traded oil & gas and mining companies, and is an advisor to various venture capital companies. A mining industry executive with over 20 years experience in all facets of production, including operations, engineering management, environmental management and government relations. Andrew was previously Vice President – Technical Services – Freeport McMoRan Copper and Gold in both Indonesia and New Orleans. Andrew has a BSc and MSc in Mineral Processing Engineering from the University of Alberta. ANDREW NEALE P.Eng - CEO and Director 8

RICK PLOTZKI - COO and Director Mr. Plotzki has 25 years experience in mine operations, maintenance, and engineering & construction management. Rick has managed the design and commissioning of some of the world’s largest mining operations, including Freeport’s Grasberg C3 and C4 expansions, Escondida’s C4 expansion, the Collahuasi expansion, and the Las Pelambres construction. Rick is fluent in Spanish. Hardy has over the last 20 years been involved in building numerous exploration and mining companies, most notably Continental Gold Corp. and El Condor Resources, which yielded total returns to their shareholders of over CDN$450 million. Hardy is an officer and director for several publicly traded resource sector companies. HAROLD FORZLEY C.A. – Director, Chairman of the Audit Cmte. 9

A mining engineer and minerals economist, and formerly the Director General of Mining of the Ministry of Energy and Mines, Maria has advised a wide range of governments and international organizations on environmental, safety and economic issues concerning the mining industry in Peru and other South American countries. Maria earned an MSc in Mineral Economics from the Colorado School of Mines, has lectured at Peruvian universities, has represented the Peruvian government at international mining conferences, and has served on the board of mining companies such as Hierro Peru and Centromin Peru. Maria is fluent in English, Spanish and French. IAN KLASSEN – Independent Director 20 years experience in business management, public relations, government affairs and legislative decision making. Prior to entering the private sector, Mr. Klassen held various positions in the Canadian federal government, including Sr. Political Advisor to the Minister of State for Transportation, and Chief of Staff in the Office of the Speaker of the House of Commons. Ian is an executive and director of several private and public mineral exploration companies. Ian earned a BA (Honors) at the University of Western Ontario, and in 1992 was awarded the Commemorative Medal for the 125 th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country. MARIA CHAPPUIS – Gerente General – Peru 10

MARC TRAN B.Comm, B.A. (Econ) – Chief Financial Officer The Corporate Secretary for MetalQuest Minerals Inc. since December 2004 and appointed CFO in March 2008, Marc is a graduate of the University of Calgary with a B.Comm in Finance, B.A. in Economics and is working towards obtaining his CGA designation in June 2009. Marc has over 9 years of experience in the oil and gas, and junior mining and exploration industry with the focus in finance, accounting, legal and corporate compliance. A Simon Fraser University graduate with a Bachelor of Arts in Communications, Chad has several years of experience in communications, sales & marketing, management, capital markets, and consulting to the resource exploration industry, having worked with such companies as Yorkton Securities Inc., Pro Line Sports Ltd., and Club Med Inc. He is currently President, CEO, & Director of Canada Gas Corp, a Toronto Venture listed energy exploration, development and production company, and private consulting company Animus Ventures Inc. CHAD MCMILLAN B.A. (Communications) – VP Communications 11

The Canorepro transaction will close late June/early July subject to shareholder, TSX Venture Exchange and regulatory approval. Metalquest will then become Canada Gold Corporation. Canada Gold will then own 50% of the Peruvian subsidiary, and Grafton Resources Investment Trust will own the other 50%. Grafton will issue a Call Option to Canada Gold to purchase, at their discretion, within 3 years, the Grafton interest in Procesadora CanOrePro for US$10,000,000 in cash or Canada Gold stock at a floor conversion price of US $0.55 or the previous 30 day trading average of Canada Gold, whichever is higher. Post transaction, Canada Gold will have 9,414,115 shares issued. Method 12

The Canorepro transaction will close late June/early July subject to shareholder, TSX Venture Exchange and regulatory approval. Metalquest will then become Canada Gold Corporation.

Canada Gold will then own 50% of the Peruvian subsidiary, and Grafton Resources Investment Trust will own the other 50%.

Grafton will issue a Call Option to Canada Gold to purchase, at their discretion, within 3 years, the Grafton interest in Procesadora CanOrePro for US$10,000,000 in cash or Canada Gold stock at a floor conversion price of US $0.55 or the previous 30 day trading average of Canada Gold, whichever is higher.

Post transaction, Canada Gold will have 9,414,115 shares issued.

June 2009 Close MetalQuest/Canorepro Transaction Receive Approval from Ministry Of Defense for land lease and negotiate terms Contract Lima based consultant to initiate Environmental Impact Study (EIS) July 2009 Contract EIS study Contract Engineering, Procurement & Construction Management company August 2009 Initiate detailed engineering Negotiate long term power contract with ElectroNorte Negotiate contract for management and operation of on-site laboratory September 2009 Relocate project manager to Piura Place orders for long lead items Review first draft of EIS and prepare applications October 2009 Initiate site earthworks – fencing, tailings pond, cut and fill for plant site Timeline 13

At least 6500 Small Scale miners operate in northern Peru and rely on their efforts to secure a decent livelihood. MetalQuest to become Canada Gold and build a toll gold processing facility in northern Peru. The facility is anticipated to be at full capacity within 15 months, processing 300 tons a day, upgrading to 600 tons a day after year 2. A complete management team with an attractive capital structure and project financing are developing a proven, scalable and socially beneficial business model. Summary 14

At least 6500 Small Scale miners operate in northern Peru and rely on their efforts to secure a decent livelihood.

MetalQuest to become Canada Gold and build a toll gold processing facility in northern Peru.

The facility is anticipated to be at full capacity within 15 months, processing 300 tons a day, upgrading to 600 tons a day after year 2.

A complete management team with an attractive capital structure and project financing are developing a proven, scalable and socially beneficial business model.

Certain statements contained in this presentation constitute “forward-looking statements”. Such statements reflect the current views of Canada Gold Corporation (“Canada Gold”) with respect to future events and are subject to certain risk, uncertainties and assumptions, including, without limitations, general market conditions, commodity prices, interest rates and exchange rates, seasonality of operations, growth, acquisitions strategy, integration of new equipment into Canada Gold operations, dependence on senior management, regulation, competition, risk of pending and future legal proceedings, employees, labor unions, weather, fuel costs, access to industry and technology, insurance, future capital needs, debt service and the sale of additional securities. Many other factors could also cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements and readers are cautioned that the forgoing list of factors is not exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from the projections described herein. The forward looking statements in this presentation are expressly qualified by this cautionary statement. Canada Gold does not undertake any obligation to update or revise any of the included forward looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward looking statements in this document are provided for the limited purpose of enabling potential investors to evaluate and investment in the securities of Canada Gold. Readers are cautioned that such statements may not be appropriate, and should not be used, for other purposes. Forward Looking Statements 15

METALQUEST MINERALS INC.