Alder Presentation December 7 2012

1

TSX-V: ALR

WELL POSITIONED IN AN

EMERGING COPPER-GOLD

PORPHYRY DISTRICT

December 2012

2

This document contains forward-looking statements under Canadian securities legislation. Forward-looking statements include, but are not limited

to, statements with respect to the development potential and timetable of the Rosita project; the timing and amount of estimated future

development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; government regulation

of mining operations; and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology

such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not

anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”,

“might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are based on the opinions and estimates of management as of the

date such statements are made. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may

cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied

by such forward-looking statements, including but not limited to risks related to: timing and availability of external financing on acceptable terms;

unexpected events and delays during construction, expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of

government approvals; actual results of exploration and mining activities; changes in project parameters as plans continue to be refined; future

prices of metals; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining

industry. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from

those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There

can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those

anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not

undertake to update any forward-looking statements except in accordance with applicable securities laws.

The technical and scientific information included herein has been reviewed and approved by Joseph Arengi, M.Sc., P.Geo , President and CEO of

the Company, and a qualified person under National Instrument 43-101 of the Canadian Securities Administrators.

2

Forward Looking Statements

3 3

Investment Highlights

• Option to earn a 65% interest in the high grade copper-gold-silver Rosita

project

• Historic production of 245 million lbs Cu, 160,000 oz Au and 2.6 million oz Ag

from two pits

• Located in the prolific Mining Triangle of northeast Nicaragua

• 7 km north of Calibre Mining/B2Gold’s Primavera prospect, a significant

copper-gold porphyry discovery

• Stable, pro-mining government

• Experienced management team and Board of Directors – Extensive exploration and community relations experience in Nicaragua

• Stockpiles include a NI 43-101 compliant inferred resource of 8 million tonnes

containing 108.5 million lbs Cu, 118,500 oz Au and 2.4 million oz Ag (1.01%

Cu Eq. grade1)23

• Initial 5,500 m drill program has identified a 1.1 km long and 200 m deep Cu-

Au-Ag mineralized zone at the Santa Rita deposit

• Drill highlights include 0.57% Cu, 1.52 g/t Au and 5.93 g/t Ag over 15 m, 29.54

g/t Au over 8 m and 1.42% Cu, 0.18 g/t Au and 20.45 g/t Ag over 10 m

Past producing

Rosita Project in

Nicaragua

Well positioned in

an emerging

mining district

High grade

resource

Significant

exploration upside

Experienced

Management

1. Assumes a long term copper price of US$2.90/lb, gold price of US$1,200/oz and silver price of US$24/oz.

2. See Data in NI 43-101 Technical Report entitled “Technical Report on Mineral Resource Estimate of the Rosita Stockpiles” dated June 22, 2012 and filed on SEDAR.

3. As reported in the news release issued by Alder on May 9, 2012, the inferred resource estimate totals 7.95 mt, at an average grade of 0.62% Cu, 0.46 g/t Au and 9.2 g/t Ag

with an overall copper equivalent grade of 1.01%. The inferred mineral resource contains 108 million pounds of Cu, 118,500 ounces of Au and 2.35 million ounces of Ag.

4 4

Management and Board of Directors

Joseph Arengi | President and CEO

• 35 years of exploration and operational experience

throughout Canada, Nicaragua, South America and

Africa

• Credited with discovering 4 billion pounds of copper

and 60 million ounces of silver in Botswana

Ryan Ptolemy | CFO

• Certified General Accountant and CFA charter holder

• Currently CFO of Rodinia Lithium Inc. and Belo Sun

Mining Corp.

Josh van Deurzen | Corporate Secretary

• Corporate and securities lawyer, working as a legal

consultant to various public and private companies in

the resource-based sector

Don Dudek | Chairman

• Held various roles with junior and senior exploration and

mining companies over the past 28 years

• Currently serves as Senior VP Technical Services for

Endeavour Mining Corp. and prior to that he served as

Exploration Manager for Aur Resources Inc.

Rene Bharti | Director

• Has held roles in several public and private companies,

including experience in the mining sector which will be

important for the company's development of its projects in

Nicaragua

Dan Bruno | Director

• Over 15 years of investment experience and was

previously a Managing Director of a US based Investment

Bank and a Director, in the Investment Banking group at

GMP Securities Ltd.

Hon. Pierre Pettigrew | Director

• Former Minister of Foreign Affairs and currently Executive

Advisor, Deloitte Touche LLP

• Current board member of several public companies

Will Randall | Director

• Professional Geologist and currently President and CEO

of Rodinia Lithium Inc.

5 5

Share Capital and Share Performance

TSX Venture Symbol ALR

Share Price (Nov 12, 2012) $0.08

Share Price (52-week range) $0.06 - $0.29

Issued and Outstanding 72.8 million

Fully Diluted1 95.8 million

Cash and Marketable Securities $1.0 million

Market Capitalization (Basic) $5.8 million

Insider/Institutional Holders 8.6%

1. 7,025,000 options outstanding with a weighted average exercise

price of $0.21 and a weighted average life of 2.7 years and

15,952,019 warrants outstanding with an exercise price of $0.20

expiring on January 31, 2014.

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$0.35

$0.40

$0.45

Jan-1

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May-1

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Sep-1

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Nov-1

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Jan-1

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Volume Price

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Rosita Cu-Au-Ag Project

7 7

Project Overview

• Option agreement with Calibre Mining to earn

a 65% interest in the Rosita D concession by

making the following payments:

– Project expenditures of C$4.0 million (C$0.5

million already spent)

– Issuance of 1,000,000 shares over a four year

period (400,000 shares have been issued)

• NI 43-101 compliant inferred stockpile

resource of 108.5 million lbs Cu, 118,500 oz

Au and 2,354,300 oz Ag1,2

• Completed an initial 5,500 m drill program

centered on the past producing Santa Rita and

R-13 deposits

• Mineralization below the Santa Rita pit is open

along strike to the east, west and down dip

• Exploration upside from the Bambana prospect

located 4 km northwest of Santa Rita

– 400 m drill program completed

• Historical data suggests a significant precious

metal component to the mineralized system




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• The Rosita D concession covers 3,356 hectares in the prolific Mining Triangle of northeast Nicaragua,

275 km northeast of the capital city of Managua

• 7 km north of the Primavera prospect (Calibre Mining/B2Gold), where a significant porphyry style Au-Cu

mineralization has been discovered

Project Location

Cobre Panama

605 M tonnes Cu

Cerro Colorado

1,445 M tonnes Cu

• Rated the safest country in Central

America with a long mining history

• Modern infrastructure and easily

accessible

• Stable, supportive and

democratically elected government

supportive of foreign investment

• Supportive mining laws with an

attractive tax regime: 3% NSR, 30%

Net Profits Tax

• Three producing gold mines:

– La Libertad and El Limon Mines

(B2Gold)

– Bonanza Mine (Hemco)

Prolific, underexplored mining district with a stable, pro-mining government

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*See data in NI43-101 Technical Report entitled

“Technical Report on the Copper-Gold-Silver

Porphyry/Skarn Project at the Rosita D Concession dated

January 5, 2012 which is filed on SEDAR.

9

Managua

Puerto

Cabezas

Siuna

2.3M ozs Au production*

Rosita 108M lbs Cu, 118K ozs Au,

2.4M ozs Ag resource

Primavera B2Gold/Calibre Discovery

261.7M @ 0.78 G/T Au, 0.30% Cu

Forest Reserve

Bonanza

3.0M ozs Au

production*

Alder

Calibre

Calibre-B2Gold

Hemco

Nicaragua – An Emerging Porphyry District

Mining Triangle of Nicaragua has produced over 305 million lbs Cu and 8 million oz Au

10 10

Project History

• Concession hosts the historic open-pit Santa

Rita copper-gold-silver deposit

– Historic production of 245 million lbs Cu,

160,000 oz Au and 2.61 million oz Ag

– Reported mill recoveries of 60 – 80%

• Early mining focused on high grade ore (5.37

million tonnes of ore mined grading 2.06% Cu,

0.93 g/t Au and 15.08 g/t Ag) with 2% copper

stockpiled

• First gold recovery during the last five years of

production

• Mine closed in 1975 due to low copper prices

• Management believes that a substantial

amount of Cu-Au-Ag mineralization lies both

below and adjacent to the Santa Rita pit

1906 - 1912 Exploration and mining production

1916 – 1918 Tunnel and drilling

1950 Tunnel sampling and diamond drilling

1955 Diamond drilling

1959 – 1974 Mining

1981 – 1983 Geophysical survey, soil sampling and

diamond drilling

1996 – 1998 RC drilling, Geophysical survey and

soil sampling

2008 Trenching and rock sampling

2009 – 2010 Trenching, mapping, soil sampling

and diamond drilling

2011 - 2012 Channel sampling and RC sampling

on stockpiles

High grade deposit with substantial historical copper, gold and silver production

11 11

Project Geology, Targets and Prospects

Multiple highly prospective targets yet to be drilled

Refer to press release dated Nov 1, 2012

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Santa Rita Stockpiles – Compliant Inferred Resource

12

STOCKPILE TONNES

(Mt)

Cu

(%)

Au

(g/t)

Ag

(g/t)

CuEq

(%)

Cu

(M lbs)

Au

(oz)

Ag

(oz)

NORTH 3.33 0.78 0.58 10.3 1.25 56.99 62,100 1,100,900

SOUTH 2.20 0.33 0.49 5.1 0.69 16.16 34,700 360,000

NE 0.55 0.50 0.22 9.6 0.75 6.06 3,800 168,300

EAST 1.88 0.71 0.30 12.0 1.03 29.33 17,900 725,100

TOTALS 7.95 0.62 0.46 9.2 1.01 108.54 118,500 2,354,300

Notes on Mineral Resource Estimation


2. The mineral resource estimate base case is reported at a 0.15% copper equivalent cut-off grade; this cut-off incorporates consideration of mining and processing cost,

recoveries, commodity prices and selling cost.

3. The mineral resource estimate is reported on an undiluted basis.

4. The mineral resource estimate assumes a long term copper price of US$2.90/lb, a gold price of US$1,200/oz and a silver price of US$24/oz.

5. Rounding as required by NI 43-101 reporting guidelines may result in apparent summation differences between tonnes, grade and contained metal content.

6. Tonnage and grade measurements are in metric units. Contained gold and silver ounces are reported as troy ounces, contained copper pounds as imperial pounds.

7. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by

environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

8. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred

mineral resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral

resources.

Santa Rita Inferred Stockpile Mineral Resource

Robust resource base at low resource discovery cost of $0.01/lb Cu1

1. Based on the inferred copper mineral resource and total exploration expenditures of $900,000

Effective Date: June 22, 2012

13 13

Santa Rita and R-13 Deposits

Potential to add additional tonnage to an already robust stockpile resource

29.54/8m

6.90/8.0,

1.76/4m

1.42Cu, 0.18Au,

20.45Ag/10m

0.87Cu, 0.81Au,

7.96Ag/10m

0.80Cu, 10.45Au,

21.83Ag/3m

0.49Cu, 1.15Au,

4.4Ag/4m

IP Anomaly

Refer to press release dated Nov 1, 2012

14 14 Note: Alder has not yet verified the historic drill results reported herein and does not intend to use this information for purposes

other than planning and prioritizing exploration targets. See News Release of May 31, 2012 and September 11, 2012

Santa Rita/R-13 Deposit Skarn Cu Mineralization

2.27Cu/ 16.7m 0.54Cu/ 24.4m

15 15 Note: Alder has not yet verified the historic drill results reported herein and does not intend to use this information for purposes

other than planning and prioritizing exploration targets. See News Release of May 31, 2012 and September 11, 2012

Santa Rita/R-13 Deposit Skarn Au/Ag Mineralization

Crosscutting New Gold Zones

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Santa Rita Targets

Multiple Cu-Au-Ag

skarn targets, historic

resource

Santa Rita/R-13

corridor, Cu-Au-Ag

skarn

New Au discovery,

29.54 g/t Au/8m*

A

B

C

Porphyry Cu target,

strong porphyry

textures, highly

anomalous Cu, Au

D

IP Anomaly

* Refer to news release dated Sept 5, 2012

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Santa Rita Targets

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Bambana Targets

• Located 4 km northwest of the Santa Rita deposit

• Calibre Mining completed three drill holes that returned intercepts of up to 50 m grading

0.42% Cu, 7.00 g/t Ag and 11.5 m grading 0.51% Cu, 7.56 g/t Ag and 0.25 g/t Au

• Prospect pit returned 2.8m grading 6.28% Cu, 0.74 g/t Au, 132.75 g/t Ag

19 19

Bambana Area – T3 Prospect

• Trench returned porphyry-style mineralization that

included 12 m grading 3.32% Cu, 0.22 g/t Au and

37.55 g/t Ag

• Rock-chip sampling at two benches returned two

wide intercepts of 29 m grading 2.09% Cu, 0.19

g/t Au and 14.6 g/t Ag and 29 m grading 1.98%

Cu, 0.14 g/t Au and 14.4 g/t Ag

• 400 m drill program has successfully confirmed the

presence of shallow, high grade, oxide copper and

silver mineralization

• Untested IP chargeability anomaly with porphyry

copper potential

Close proximity to the Santa Rita pit provides future development upside

* Refer to news release dated Jun 13, 2012 and Nov 1, 2012

20 20

Bambana Area – Tipispan Prospect

• Historic drilling returned porphyry-style

mineralization that included 50 m grading 0.42%

Cu and 7.00 g/t Ag and 11.5 m grading 0.51%

Cu, 0.25 g/t Au and 10.41 g/t Ag

• Rock-chip sampling at prospect pit returned 2.8 m

grading 6.28% Cu, 0.74 g/t Au and 132.75 g/t Ag

• Trenching has returned 8.3 m grading 1.65% Cu,

0.17 g/t Au and 23.25 g/t Ag including 3 m

grading 3.85% Cu, 0.38 g/t Au and 51.43 g/t Ag

• Mineralized zone traced >200 m on surface and

100 m vertical depth

Close proximity to the Santa Rita pit provides future development upside

919

1.23 Cu, 0.36 Au,

10.63 Ag / 13.0m

920 1.74 Cu, 0.09 Au,

16.64 Ag / 18.0m

BB10-02

0.51 Cu, 0.25 Au

7.56 Ag / 11.5m

BB10-01

0.42% Cu

7.00 g/t Ag / 50.0m

T3

BB10-03

Circular Magnetic

Feature

Zopilote*

176,000 tonnes @ 0.90% Cu

(Oxide)

79,000 tonnes @ 0.97% Cu

(Sulphide)

Tipispan

* Refer to news release dated Nov 1, 2012

21 21

Bambana Prospect – T3 Zone Bench Sample

3.07% Cu, 0.14 g/t Au and 14.4 g/t Ag over 1 m

* Refer to news release dated Jun 13, 2012 and Nov 1, 2012

22 22

Ground Magnetic Survey – 108 km

A number of prospective anomalies warrant follow-up exploration work

23 23

Geophysics Compilation

A number of prospective anomalies warrant follow-up exploration work

IP Targets

24

Milestone Q1 2013 Q2 2013 Q3 2013 Q4 2013

Diamond Drilling – Santa Rita (7,500 m)

Diamond Drilling – Bambana (2,500 m)

Metallurgical Testing

Resource Estimate – Santa Rita

Scoping Study

General Exploration

Exploration and Development Timeline

25 25

Reasons to Invest

Past producing project

with significant economic

potential

• Previously a high grade, open-

pit mine with historic

production of 245 million lbs

Cu, 160,000 oz Au and 2.61

million oz Ag

• Potential for project with

excellent economics at current

copper price levels

Robust resource base with

exploration upside

• Stockpiles include a NI 43-101

compliant inferred resource of

8 million tonnes containing

108.5 million lbs Cu, 118,500

oz Au and 2.4 million oz Ag

(1.01% Cu Eq. grade1)23

• Excellent drill results illustrate

the potential to establish a

significant high grade resource

Well positioned in a stable

and emerging mining

district

• Located in the prolific Mining

Triangle of northeast

Nicaragua, host to several

significant copper and gold

porphyry deposits

• Stable, pro-mining government

with supportive mining laws

and an attractive mining tax

regime

1. Assumes a long term copper price of US$2.90/lb, gold price of US$1,200/oz and silver price of US$24/oz.




26

TSX-V: ALR

65 Queen Street West, Suite 800

Toronto, ON, M5H 2M5

[email protected]

Follow us:

Joseph Arengi

President and CEO

(416) 309-4296

[email protected]

Don Dudek

Chairman

(416) 861-2261

Michael McAllister

Manager, IR

(416) 309-2134

[email protected]

27 27

Hole ID Area

To Thickness Cu Au Ag

From (m) (m) (m) (%) (g/t) (g/t)

D901 Sta Rita 75 85.9 10.9 0.36 0.15 6.32

" 89 92 3 0.12 1.27 3.57

D906 R-13 213 217 4 0.49 1.15 4.40

D910 Sta Rita 50 115 65 0.20 1.48 (1.00 cut) 2.00

Including 84 92 8 <0.1 6.90 (3.03 cut) <0.1

and 100 115 15 0.57 1.52 5.93

and 106 110 4 1.46 3.22 15.25

D911 R-13 173 179 6 0.05 1.86 3.15

and 262 292 30 0.31 1.10 5.78

including 289 292 3 0.80 10.45 (10.33 cut) 21.83

including 290 291 1 0.48 30.37 (30.00 cut) 11.6

D912 Santa Rita 156 158 2 1.24 1.45 12.25

and 197 201 4 0.03 1.76 0.09

D914 Sta Rita 235 250 15 0.04 15.82 (5.62 cut) 0.23

including 240 248 8 0.04 29.54 (9.38 cut) 0.29

including 241 243 2 0.04 110.69 (30.00 cut) 0.60

D915 Santa Rita 57 63 6 0.36 0.15 3.07

and 96 149 53 0.50 0.08 6.44

including 128 138 10 1.42 0.18 20.45

and 129 133 4 1.94 0.25 30.05

D916 Santa Rita 7 12 5 0.33 0.09 1.14

D917 Santa Rita 0 55 55 0.05 0.31 0.86

including 8 14 6 0.19 1.07 3.62

and 98 105 7 0.32 0.13 4.37

and 165 169 4 0.35 0.55 2.40

D918 Santa Rita 71 85 14 0.87 0.81 7.96

Santa Rita and R-13 Drill Highlights

Excellent drill results illustrate the potential to establish a significant high grade resource

Refer to press release dated May 31, 2011; Nov 1, 2012

Documents

Alder Presentation December 7 2012