2. Forward Looking Statement
Certain statements in this document constitute “forward looking statements” which may not be
based on historical fact. Such forward looking statements involve known and unknown risk,
uncertainties and other factors which may cause the actual results, performance or achievements
of the Company, or industry results to be materially different from any future results,
performance, or achievements expressed or implied by such forward looking statements. Such
factors include, among others, the following: actual results of exploration and development
activities; the estimation or realization of mineral reserves and resources; the timing and the
amount of future production; the costs and timing of the development of new deposits; future
prices of precious and base metals; accidents; risks inherent in mineral exploration; risks
associated with development, construction and mining operations; restrictions on foreign
ownership; the Company’s history of operating losses and uncertainty of future profitability;
uncertainty of access to additional capital; environmental liability claims and insurance; and
dependence on joint venture partners.
2
3. EDW Value Opportunity $79.0
Edgewater is currently valued at $14 Market Cap/oz Gold with
significant shareholder potential in 2012
Group Avg $35 Market Cap/oz Gold $53.0
$48.5
$41.1
$37.8
$33.1
$27.6
$23.6
$18.0
$14.4
$10.2
3
Astur
Volta
Edgewater
Azumah
Dalradian
Lydian
Olympus
Orezone
Oromin
Keegan
Gryphon
4. Investment Highlights
100% Ownership
PRO MINING, STABLE MINING JURISDICTIONS
• First world, pro mining jurisdiction
• Advanced Gold development project
• All levels of government supportive
• Expedited/fast track to mining permits in 2012
• Awarded $120M debt mandate to Credit Suisse and
Barclay’s Capital
51/49 Joint Venture
TEAM AND PARTNERS: Proven, Successful, Experience
Kinross Gold Corp.
• Proven management with mine building and production experience
• Financial Advisor: Mr. AJ Ali has successfully raise over $1B debt project finance
• Featherstone Capital Advisors: have significant success in creating shareholder wealth
• Tetra Tech: An internationally recognized leader in the design and engineering of feasibility level
gold projects world wide. 4
• Kinross Gold Corp.: A Canadian-based gold mining company with mines and projects in Brazil,
Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States.
5. 100% Ownership
Investment Highlights
ESTABLISHED PROJECTS
CORCOESTO GOLD PROJECT, Galicia NW Spain
• Preliminary Economic Assessment*
• NPV 5% $340 Million
• IRR 34% 51/49 Joint Venture
• PAYBACK yrs 2.5 Kinross Gold Corp.
• AVERAGE ANNUAL REVENUE $80M
ENCHI GOLD PROJECT, GHANA
• 60 Km south west of Chirano Gold Mine (5M ounces)
• Recently announced resource (749,000 ounces gold grading 1.13g/t) using
a 0.70g/t cut-off
5
• +500sq km land package
*$1500 Au
6. Edgewater Team
George Salamis, President & CEO, Director
+20 years experience directing exploration, development, and mining operations of a number of gold, base metal and coal
projects, Mr. Salamis has held senior management positions with Placer Dome and Cameco Corporation and has
completed M & A transactions valued over $1B
Greg Smith, P.Geo, Vice President Exploration
+23 years exploration experience working for both junior & senior mining operations and has been involved in outlining
+10Moz gold discovery
Edward Farrauto, CFO
+20 years experience as CFO and Director of public companies, has been involved in raising over $500 million of equity
and debt and completed M & A transactions valued over $750 million
Dr. John Thomas, COO
+38 years experience in the mining industry in several countries. His experience covers a wide range of activities including
process development, feasibility studies, management of construction and operation of mines. Dr. Thomas is a professional
engineer and has a B.Sc., M.Sc., and a PhD in metallurgical processing
Mr. AJ Ali, Project Finance Advisor
Mr. Ali has over 20 years experience in the mining industry and has been involved with over $2B (USD) in M&A and
project financings for global mining projects. Previously Mr. Ali was the Chief Financial Officer and a Director of
Centenario Copper Corporation before its acquisition by Quadra FNX Mining and Chief Financial Officer of EuroZinc 6
Mining Corporation (2004 to 2006) before it merged with Lundin Mining.
Doug Forster, M.Sc. P.Geo, Director
+30 years resource project development, M&A, equity finance and public company management, Mr. Forster is President
& CEO of Featherstone Capital, he has been Founder and director of several public companies
7. Edgewater Capital Structure (Sept 2012)
Ownership Share Structure
Kinross
Gold Corp Issued & Outstanding 76,705,437
5%
Warrants
6,515,000 @ 1.10 (2013)
Mgmt &
984,780 @ $1.10 (2012) ’22,117,750
Insiders
19% 7,806,500 @ $1.40 (2013)
Retail 38%
2,436,250 @ $0.50 (2013)*
Options 7,902,000
Institutional
Fully Diluted* 106,725,187*
38%
Cash $6,000,000
Fully Diluted Cash $27.000,000
•If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on
7
the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M
warrants at $1.00 (included in the fully diluted number above).
*September 24 Edgewater sold a NSR royalty interest on the Corcoesto Gold Project and an
equity component to the same purchaser or the royalty
8. Corcoesto Gold Project
Overwhelming support from all levels of government and
community in Galicia, NW Spain
An autonomous region, all mine permits granted locally at
the municipal and state levels (no federal approvals
required)
Expedited permitting with “Strategic Industrial Project”
awarded June 2012
Excellent logistics with roads, power and water
PEA demonstrates robust economics with an average of
100k/oz a year gold project with expansion potential
Updated NI 43-101 Resource Estimate – Q4, 2012
Bankable feasibility study - Q4 2012/Q1 2013
8
Mine permitting - Q4, 2012
Project Finance underway - Q4, 2012
9. Corcoesto Permitting (Q4,2012)
Overwhelming support from all levels of government and community in
Galicia, NW Spain
Expedited permitting with “Strategic Industrial Project” awarded June 2012
Strategic Industrial Project – part of the Industrial Promotion act of Galicia
Minimization of processing time and priority for the project to advance with
expedited permitting timelines
Exemption from municipal license
Declaration of the project as public utility and social interest
Additionally it involves rights for access to energy or water to the project site
Minister of Economy and Industry, Javier Guerra, considers Corcoesto “a great opportunity, one
which will create a lot of jobs.” Mr. Guerra stated Xunta “is going to support investments which
fulfill the existing legislation, ones which are safe and generate wealth and jobs”
June 2012, The President of Galicia left held a press conference
discussing the details of the Strategic Industrial Project for Corcoesto, 9
the benefits to the local region including the creation of new jobs and
investment
10. Corcoesto Gold Project PEA
6,000 tpd Years 1-10
(Base Case $US1300/oz)
Average annual production (Au oz) 102,000
Average annual net revenue ($US M) 60.0
Metallurgical recovery (%) 89.1
Strip Ratio 8.0/1
Average annual net cost ($US/oz) 713
Capital cost ($US M) (17.5% Contingency) 160
$1300/oz $1500/oz
Payback (years) 3.4 2.5
IRR (%) 24 34
NPV (5%) (Million)
Average annual net revenue ($US M)
206
60.0
340
80.3
10
Preliminary Economic Assessment NI43-101 Compliant includes inferred mineral resources that are considered too speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized
*Slide 10 containing details of the NI43-101 Compliant resource
11. Corcoesto Project / Peer Comparison Edgewater’s Auryx Gold Corp
Base Case ($1300/oz) Corcoesto Project Otjikoto Project *92%
Annual Avg Production 102,000 100,000
Cash Cost $US/oz 713 725
Initial Capital Cost 135* 110
Mill Feed Grade 1.70g/t gold 1.52g/t gold
Strip Ratio 8.0:1 7.3:1
Payback 3.4 yrs 4.9 yrs
Basic Market Cap $29 M $142 M
$300
$250
$200 $142 Mkt Cap
Mkt Cap ($Million)
(1.4M oz Au)
$150
$100
$50
$28M Mkt Cap
(1.5M oz Au)
11
$0
0 1 2 3 4 5 6 7 8
Edgewater Exploration Astur Gold Corp Group Average Auryx Gold Corp Ampella Mining Gryphon Minerals Lydian International
*B2Gold acquired Auryx Gold for $160M, excluding contingency, working capital and both projects are at the PEA stage.
14. Corcoesto 2011 Resource Estimate
NI 43-101 Resource Summary
Cutoff Tonnes Gold Contained Gold
Resource Class (g/t Au) (x1000) g/t (x1000 oz)
Measured 0.65 3,899 1.77 222
Indicated 0.65 1,823 1.69 103
Measured + Indicated 0.65 5,783 1.74 325
Inferred 0.65/2.0 20,265 1.76 1,149
A total of 1,101.9 m of surface trenching in 55 trenches, 443.1 m of adit sampling in 4 adits and 42,326.2 m of diamond and RC drilling in
436 drill holes were used in the resource with sample spacing’s that were less than 30 m for Measured resources, less than 40 metres for
Indicated resources and less than 195 m for Inferred resources except for Inferred resources below 200 m from surface and for
the northern two vein systems that used drill spacing’s of 196 m
A base cutoff grade of 0.65 g/t Au was used for reporting resources above a depth of 200 m
from surface and a cutoff grade of 2.0 g/t Au was used for reporting
resources below 200 m from surface 14
15. 2nd
largest
Enchi
produce
r in
Cote d’Ivoire Africa
17Moz
51/49 Joint Venture with Kinross Gold 3Moz
(TSX: K) +5Moz
5Moz 3Moz
Mid-stage exploration comprised of 8 45Moz
licenses totaling 568km2 Enchi 6Moz
290km west of the capital city Accra, 37Moz
accessed via sealed roads
Locating the next +3-5M ounce gold
deposit on the Bibiani Shear Zone
Bibiani Shear Zone hosts +25M ounces
of gold, Enchi hosts the largest
contiguous land package
Exploration and drilling program
underway
15
16. Enchi Gold Project
Analagous to Chriano and Bibiani
Gold Mines
Chirano covers 9km of the Bibiani
Shear Zone
Enchi covers 50km over the Bibiani
Shear Zone
Trenching and soil sampling underway
Airborne geophysical survey identified
+25 new targets
16
17. Enchi 2012 Inferred Resource Estimate
NI 43-101 Resource Summary
Cutoff Gold
Zone Tonnes Contained Gold
(g/t Au) g/t
Boin 0.70 9,551,000 1.20 369,600
Nyam 0.70 3,633,000 1.06 123,700
Sewum 0.70 7,449,000 1.07 255,750
Total 20,627,000 1.13 749,000
1. CIM definition standards were followed for the resource estimate.
2. The 2012 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones
defined by wireframed solids.
3. A base cutoff grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t.
4. A density of 2.45 g/cm3 was applied. 17
5. Numbers may not add exactly due to rounding.
6. Mineral Resources that are not mineral reserves do not have economic viability
18. Enchi Resource with cut-off Range
NI 43-101 Resource Summary
Cutoff Gold
Tonnes Contained Gold
(g/t Au) g/t
0.30 71,241,000 0.65 1,489,295
0.40 51,633,000 0.76 1,269,739*
0.50 37,278,000 0.89 1,063,868
0.60 27,538,000 1.01 892,682
0.70 20,627,000 1.13 749,081
0.80 15,887,000 1.24 635,200
0.90 12,644,000 1.35 546,878
*West African average cut-off is 0.4g/t which represents +1.2M ounces Gold
18
19. Enchi Potential
3 geo-chemical
anomalies over
Several different targets identified with 3km long
multi-million ounce potential to build Open in all
directions
upon
1.44g/t Au over 17m
Open in all directions
(900m North of Boin Zone) 1.13g/t Au over 34m
Open in all directions
1.14g/t Au over 68m
2.65g/t Au over 35m Open in all directions
Open in all directions
Sewum highest geo-chemical
anomaly
Drill results include: 2.0g/t Au 19
over 30m, 0.53g/t Au over 81m
20. Edgewater News Flow & Timeline
2012 2013
Q1 Q2 Q3 Q4 Q1
Corcoesto
Resource
+35,000m Diamond Drill Program Estimate
Mining
Environment / Permitting Permit
Feasibility
Final Feasibility Study Study
20
Project
Project Financing Finance
Enchi Exploration work underway
21. Edgewater Summary ($12 EV/oz mkt avg $53/oz)
Spain
Experienced management with mine building and project finance expertise
Completed a PEA demonstrating a NPV(5%) of $340M using a $1500 gold price.
EIA Submitted and Public Consultation completed (‘Strategic Industrial Project’ status)
Debt/Project Financing arrangement with Banks
Updated Resource estimate Q4, 2012
Mine development permit Q4, 2012
Bankable Feasibility Q4, 2012/Q1, 2013
Construction decision Q1, 2013
Ghana
Inferred Resource Estimate
South west of three large open pit and under ground mining operations
Locating the next 3-5M ounce gold deposit on the Bibiani Shear Zone
21
Bibiani Shear Zone hosts +25M ounces over a 200km strike length
Enchi covers 50km of the Bibiani Shear Zone
23. Corcoesto Estimated Development Timeline
2012 2013 2014
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Corcoesto
Resource
+35,000m Drill Program Estimate
EIA – Mine Permit Mining Permit
Feasibility
Final Feasibility Study Study
Project Financing Project Finance
Water License
Power plant and Tailing construction
Mine Plant construction Production
23
