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 nd th r factors hi h may u the tu l results, performance r hi m nt
un rt inti and other f t r which m cause th actual r ult p rf rm n 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;
activities the estimation or realization of mineral reserves and resources the timing and the
resources;
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;
ownership the Company’s history of operating losses and uncertainty of future profitability
Company s profitability;
uncertainty of access to additional capital; environmental liability claims and insurance; and
dependence on joint venture partners.
2
3. EDW Value Opportunity
Edgewater’s peer review group averages $50/oz Gold (EV/Resources)
$180
$160 Edgewater i currently valued at $20/ G ld with significant
Ed is l l d $20/oz Gold i h i ifi
shareholder potential in 2012
$140
$120
$120
$100
$80
$60
$40
$20
$0
3
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
• Project financing progress underway
51/49 Joint Venture
J
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 $ debt project finance
J y $1B p j
• Featherstone Capital Adviors: have significant success in creating shareholder wealth
• Wardrop Engineering: 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. Investment Highlights
100% Ownership
ESTABLISHED PROJECTS
CORCOESTO GOLD PROJECT, Galicia NW Spain
• Preliminary Economic Assessment*
• NPV 5% $340 Million
• IRR 34%
• PAYBACK yrs 2.5
• Average Annual Net Revenue $80M
51/49 Joint Venture
J
Kinross Gold Corp.
• Q2, 2012 Project Finance and Resource Estimate Update
• Q3/Q4, 2012 Mining Permit
• Q4, 2012 Bankable Feasibility Study and Project Finance
ENCHI GOLD PROJECT, GHANA
• 60 Km south west of Chirano Gold Mine (5M ounces) 5
• Maiden
M d Resource Q2 2012
Q2,
• +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
p j ,
projects, Mr. Salamis has held senior management positions with Placer Dome and Cameco Corporation and has
g p p
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
10Moz
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.
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 (March 2012)
Ownership Share Structure
Kinross
Gold Corp Issued & Outstanding 67,282,187
5%
Warrants
6,515,000 1 10
6 515 000 @ 1.10 (2013)
Mgmt & ’15,451,280
Insiders 984,780 @ $1.10 (2012)
Retail 38% 19% 7,806,500 @ $1.40 (2013)
Options 7,102,000
Fully Diluted* 94,209,592*
Institutional
38%
Cash $4,000,000
* If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on
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).
7
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)
Potential to fast track permitting with “Strategic Project”
Excellent logistics with roads, power and water
Robust
R b economics with an average of 100k/oz a year gold
h f 100k/ ld
project with expansion potential
Updated NI 43-101 Resource Estimate – Q3, 2012
Bankable feasibility study - Q4, 2012
Mine permitting - Q3/Q4, 2012 8
Project Finance underway - Q4, 2012
9. Corcoesto Gold Project PEA
6,000 tpd Years 1-10
(Base Case $US1300/oz)
Average annual production (Au oz) 102,000
102 000
Average annual net revenue ($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 $1500/oz
Payback (y
y (years)
) 3.4 2.5
IRR (%) 24 34
NPV (5%) (Million)
Average annual net revenue ($US M)
206
60.0
340
80.3
9
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
10. Corcoesto Project / Peer Comparison Edgewater’s Auryx Gold Corp
Base Case ($
($1300/oz)
/ ) Corcoesto Project Otjikoto Project *92%
92%
Annual Avg Production 102,000 100,000
Cash Cost $US/oz 713 725
Initial Capital Cost
I ii lC i lC 135* 110
Mill Feed Grade 1.70g/t gold 1.52g/t gold
Strip Ratio 8.0:1 7.3:1
Payback
P b k 3.4 yrs
4 4.9
4 yrs
Basic Market Cap $29 M $160 M
$450
$
$400
$350
$300
Million)
$250
$160 Mk C
Mkt Cap
Mkt Cap ($M
$200
(1.4M oz Au)
$150
$100 $28M Mkt Cap
(
(1.5M oz Au)
)
10
$50
$0
0 1
Edgewater Exploration 2
Astur Gold Corp 3
Group Average 4
Auryx Gold Corp Ampella 5
Mining 6
Lydian International Gryphon 7
Minerals 8
*B2Gold acquired Auryx Gold for $160M, excluding contingency, working capital and both projects are at the PEA stage.
13. Corcoesto 2011 Resource Estimate
NI 43-101 Resource Summary
Cutoff Tonnes Gold
G ld 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 13
14. 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
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
g p g
Q2, 2012 Maiden Resource Estimate
14
15. Enchi Gold Project
Analagous to Chriano and Bibiani
Gold Mines
G ld M
Chirano covers 9km of the Bibiani
Shear Zone
Enchi covers 50km over the Bibiani
Shear Zone
10,000m drilling program underway
Trenching and soil sampling underway
Airborne geophysical survey identified
+25 new targets
25
15
16. Enchi Potential
3 geo-chemical
anomalies over
Several different targets identified with 3km long
multi-million ounce potential
p Open in all
directions
1.44g/t Au over 17m
Open in all directions
1.13g/t Au over 34m
Open in all directions
1.14g/t Au over 68m
2.65g/t Au over 35m
g Open in all directions
Open in all directions
Sewum highest geo-chemical
anomaly
Drill results include: 2.0g/t Au 16
over 30m, 0.53g/t Au over 81m
30m 0 53g/t
17. Edgewater News Flow & Timeline
g
2012 2013
Q1 Q2 Q3 Q4 Q1
Corcoesto
Resource
20,000m Diamond Drill Program Estimate
Mining
Environment / Permitting Permit
Feasibility
Final Feasibility Study Study
17
Project
Project Financing Finance
Resource
Enchi Estimate 10,000m Drill Program
18. Edgewater Summary
g
Spain
Stable and pro mining development in a first world jurisdiction
Supportive Government and local community
Experienced management with mine building and project finance expertise
Completed a PEA demonstrating a 5% discounted NPV of $340M using a $1500 gold price.
2012 updated resource, mine permitting, project financing and bankable feasibility study.
Ghana
Located in one of the most prolific gold regions of the world
South west of three large open pit and under ground mining operations
Located the next 3-5M ounce gold deposit on the Bibiani Shear Zone
Bibiani Shear Zone hosts +25M ounces over a 200km strike length
25M
Enchi covers 50km of the Bibiani Shear Zone
18
