Buccaneer Gold Corp. is a mineral exploration company whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties highly prospective for gold in Ghana, West Africa.

CORPORATE PRESENTATION Q4 2011

Vanward Project – June 2008

CORPORATE PRESENTATION

Q4 2011

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

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Statements contained in this Presentation that are not based on historical fact are “forward-looking statements”. Forward-looking statements may be identified by the use of forward-looking terminology such as “may”, “expect”, “believe”, “estimate”, “anticipate”, “intent”, “plan”, “continue” or variations (including negative variations) of such words, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved or anticipated in such statements. These forward-looking statements are based upon information currently available to us. This Presentation contains forward-looking statements which may include, but is not limited to, statements with respect to the future financial or operating performance of Buccaneer Gold Corp. (“Buccaneer”) and our projects, the future price of commodities, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital, operation and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks and title disputes or claims. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Buccaneer to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among other matters, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; actual results of reclamation activities; conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of silica and uranium, possible variations of ore grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, political instability, insurrection or war, delays in obtaining governmental approvals or financing or in the completion of development or construction activities.

Buccaneer disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, any person, company or company representative who receives a copy of this Presentation (“Recipient”) should not place undue reliance on forward-looking statements.

This Presentation contains summaries or significant documents. Although such summaries are believed to be fair and accurate, they do not purport to be a complete description of every term and condition and reference is hereby made to the actual documents for complete information relating to the rights and obligations of the parties thereto. The summaries are qualified in their entirety by this reference. No person has been authorized to give any information or to make any representations other than those contained in this Presentation in connection with a potential investment in our Company and, if given or made, such information or representations must not be relied upon as having been authorized by us. This Presentation does not constitute an offer to sell or the solicitation of any offer to buy any security of Buccaneer, nor does it constitute an offer to sell or a solicitation of any offer to buy such securities by anyone in any jurisdiction. Any offer or sale of securities of Buccaneer will only be made by entering into a definitive agreement of which this Presentation does not form a part. This Presentation is being made on a confidential basis for use solely in connection with a potential investment in Buccaneer. The disclosure of any of the data contained herein or supplied in connection herewith or the use thereof for any other purpose, except with the written consent of Buccaneer, is strictly prohibited. THIS PRESENTATION MAY NOT BE REPRODUCED, IN WHOLE OR IN PART, AND IT IS BEING PROVIDED WITH THE EXPRESS UNDERSTANDING THAT IT WILL BE RETURNED UPON REQUEST BY AN AUTHORIZED REPRESENTATIVE OF BUCCANEER. Recipients are not to construe the contents of this Presentation as legal or tax advice. Each Recipient should consult his own counsel, accountant and other advisors as to legal, tax and related matters relating to any investment in or relationship with our Company. This Presentation has not been reviewed, approved or disapproved, nor has the accuracy or adequacy of the information set forth herein been passed upon by any securities commission or any securities administrator or any Canadian federal or provincial regulatory body. Any representation to the contrary is a criminal offence. Any inquiries or requests for additional information should be made in writing to Buccaneer to the attention of our Chief Executive Officer.

Buccaneer Gold Corp. (“Buccaneer” or the “Company”) is a mineral exploration company whose long term objective is to build a diversified company focused on the acquisition, exploration and development of gold properties highly prospective for gold The Company was incorporated in Ontario, Canada on October 4, 2004

under the name of Verbina Resources Inc. and changed its name to Buccaneer in April 2011 Completed an initial public offering on the TSX Venture Exchange (“TSX.V”) on December 31, 2007

The Company’s shares were listed for trading on February 22, 2008 and

trade under the trading symbol “BGG” The Company executed an option agreement to acquire a 55% interest in all mineral rights (the “Banso and Muoso Option”) of two mining concessions (the “Banso Concession” and the “Muoso Concession”) located in Ghana, West Africa which are highly prospective for gold Buccaneer will be the operator of all work conducted at the Banso and Muoso Concessions (the “BAM Project”)

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COMPANY HIGHLIGHTS

Paul Zyla 25 years’ experience with resource-based public companies

President, CEO and Director President, CEO and director of Xtra-Gold Resources Corp. (TSX:XTG)

Kevin C. Swanborough 30 years’ experience in financial services including management of

CFO and Director finance operations, business and strategic planning, budgeting and forecasting, treasury management and financing Retired administrative partner, former Firm-wide Controller, Partner-in- Charge and CFO of KPMG Canada (audit, tax and advisory services)

Lucy Casacia 20 years’ experience in industrial engineering and executive management

Director President of Adventis Capital Inc., executive management consulting and engineering firm for industrial engineering and power-related companies; Senior Account Executive, Cities Manager of Siemens Canada Former Superintendent of Engineering Services of BHP Billiton Canada

Richard W. Grayston Certified general accountant since 1977

Director 36 years’ experience in public company management as a financial and economic consultant Chairman and a director of Xtra-Gold Resources Corp.; director and Chairman of the Audit Committee of SG Spirit Gold Inc.

Blaine Schmidt 30 years’ experience as a business executive

Director President of Skylar Wireless Telecommunications and owner/operator of 113271 Ontario Inc. operating as Boot Hill Auto

Dr. Guy Della Valle 37 years’ experience in the mining industry in all phases of exploration

Vice-President, Exploration from greenfield to pre-feasibility study and underground mining as a senior exploration geologist and drill program supervisor

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MANAGEMENT AND BOARD OF DIRECTORS

ACQUIRE, EXPLORE AND DEVELOP gold properties in Ghana, West Africa

BROAD EXPERIENCE OF MANAGEMENT AND BOARD OF DIRECTORS enables Buccaneer to pursue opportunities in precious metals

DEVELOP a self-sustaining business with high potential gold exploration properties

FOCUS on areas of expertise in exploration and development

ADVANCE property interests (when possible) through joint

venture partnerships with major or mid-tier mining and/or other exploration companies

INCREASE SHAREHOLDER VALUE through exploration

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CORPORATE STRATEGY

ABOUT GHANA

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To date, more than 140 million ounces (“Moz”) of gold has been discovered in Ghana including more than 23 Moz discovered by Newmont Mining (NYSE:NEM; TSX:NMC) since 2002 at its Akyem and Ahafo mines

10th in world gold production since 2006

2nd largest gold producer in Africa behind South Africa

produced more than 3 Moz of gold in 2010

English-speaking, stable democracy, British common law

Population of more than 24 million

Rated second in the 10 fastest growing GDP countries in the world

according to a 2011 forecast by the Economist Intelligence Unit

GOLD BELTS OF SOUTHERN GHANA

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55.28 square kilometres

located in the Kibi Gold Belt in the East Akim

District of the Eastern Region of Ghana

mining lease to work, develop and produce gold

granted by the Government of Ghana in January 2011

HISTORICAL EXPLORATION:

auger sampling programs completed to test the geochemical signature of

gold-in-soil anomalies detected at the Muoso Concession reconnaissance trenching program yielded encouraging results and confirmed

extensive Ankaase gold-in-soil trend is spatially associated with a typical “Ashanti” style shear zone setting developed proximal to a Birimian metavolcanic- metasediment contact with associated Belt-type granitoids trenching efforts restricted to the southern 1.4 km strike extent of the over 3.5

long Ankaase gold-in-soil anomaly included 31 hand dug trenches totalling 1,350 linear-metres including 19 trenches totalling 805 metres excavated in the initial 2008 scout trenching program (TMU001-TMU019) and 12 trenches totalling 546 metres during the 2009-2010 follow-up program (TMU021-TMU032)

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MUOSO PROJECT

PROJECT AND EXPLORATION OVERVIEW

2008 SCOUT TRENCHING HIGHLIGHTS 1.75 g/t gold over 18 metres (TMU004) 1.79 g/t gold over 24 metres (TMU008-TMU010) 4.73 g/t gold over 6 metres (TMU016) 2.08 g/t gold over 14 metres (TMU019) (including 6.52 g/t gold over 4 metres) 2009-2010 FOLLOW-UP TRENCHING HIGHLIGHTS 1.80 g/t gold over 24 metres (TMU023) (including 2.59 g/t gold over 7 metres and 3.62 g/t gold over 6 metres) 1.55 g/t gold over 17 metres (TMU030) (including 3.55 g/t gold over 6 metres)

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MUOSO PROJECT

TRENCHING PROGRAMS

MUOSO PROJECT

LODE GOLD EXPLORATION

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2008 GOLD ANKAASE TREND TRENCHING RESULTS

MUOSO PROJECT

EXPLORATION

2011 VTEM SURVEY

The primary purposes of the airborne Versatile Time Domain Electromagnetic (VTEM),

Magnetic and Radiometric survey was to delineate auriferous graphitic or sulphidic shears. Resistivity-depth data may also help further define and/or identify Belt-type granitoid bodies spatially associated with the gold-bearing structures. VTEM results will be incorporated into the geological compilation upon receipt of final

survey interpretation data from Geotech Airborne Limited. This integrated survey, in combination with previous soil geochemistry and reconnaissance geology surveys will help further define the extent and regional controls of the gold-bearing structures discovered to date by trenching to date with the objective of guiding follow-up trenching designed to outline high priority, cost effective drill targets.

PLANNED EXPLORATION

Road construction commenced in October 2011

Further trenching to be conducted

Drill program planned for early 2012

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51.67 square kilometres

located in the Kibi Gold Belt in the East Akim

District of the Eastern Region of Ghana

mining lease to work, develop and produce gold

was granted by the Government of Ghana in

January 2011

HISTORICAL EXPLORATION:

trenching, pitting and sampling programs completed to test the

geochemical signature of 3 gold-in-soil anomalies detected at this concession

significant results indicative of potential lode gold mineralization in the vicinity

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BANSO PROJECT

PROJECT AND EXPLORATION OVERVIEW

Shares Outstanding 32,724,167 as at October 12, 2011

Convertible Debenture 400,000 @ CDN$0.125/share Warrants on Debenture Conversion 200,000 @ CDN$0.15/share Warrants 11,884,750 @ CDN$0.125-$0.65/share Stock Options 1,500,000 @ CDN$0.22-$0.45/share Fully Diluted 46,708,917

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CAPITALIZATION

Head Office Paul Zyla, President and CEO

360 Bay Street Kevin Swanborough, CFO Suite 301 Toronto, ON Canada M5H 2V6

TEL: 416 366-4227 FAX: 416 628-1655 E-MAIL: info@buccaneergold.com

WEBSITE: www.buccaneergold.com

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CONTACT US

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