Corporate Presentation Sept 2012

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<ul><li><p>TSX.V:EDW </p><p>Corporate Presentation | Sept 2012 </p></li><li><p>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 Companys 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. </p><p>2 </p><p>Forward Looking Statement </p></li><li><p>$10.2 </p><p>$14.4 </p><p>$18.0 </p><p>$23.6 </p><p>$27.6 </p><p>$33.1 </p><p>$37.8 </p><p>$41.1 </p><p>$48.5 </p><p>$53.0 </p><p>$79.0 </p><p>Astu</p><p>r </p><p>Ed</p><p>ge</p><p>wa</p><p>ter </p><p>Vo</p><p>lta</p><p>Oly</p><p>mp</p><p>us </p><p>Ore</p><p>zon</p><p>e </p><p>Da</p><p>lra</p><p>dia</p><p>n </p><p>Azu</p><p>ma</p><p>h </p><p>Oro</p><p>min</p><p>Ke</p><p>ega</p><p>n </p><p>Gry</p><p>ph</p><p>on</p><p>Lyd</p><p>ian</p><p>Edgewater is currently valued at $14 Market Cap/oz Gold with significant shareholder potential in 2012 </p><p>Group Avg $35 Market Cap/oz Gold </p><p>EDW Value Opportunity </p><p>3 </p></li><li><p>PRO MINING, STABLE MINING JURISDICTIONS </p><p> First world, pro mining jurisdiction </p><p> Advanced Gold development project </p><p> All levels of government supportive </p><p> Expedited/fast track to mining permits in 2012 </p><p> Awarded $120M debt mandate to Credit Suisse and </p><p>Barclays Capital </p><p>TEAM AND PARTNERS: Proven, Successful, Experience </p><p> Proven management with mine building and production experience </p><p> Financial Advisor: Mr. AJ Ali has successfully raise over $1B debt project finance </p><p> Featherstone Capital Advisors: have significant success in creating shareholder wealth </p><p> Tetra Tech: An internationally recognized leader in the design and engineering of feasibility level </p><p>gold projects world wide. </p><p> Kinross Gold Corp.: A Canadian-based gold mining company with mines and projects in Brazil, </p><p>Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States. </p><p>100% Ownership </p><p>51/49 Joint Venture Kinross Gold Corp. </p><p>Investment Highlights </p><p>4 </p></li><li><p> Preliminary Economic Assessment* </p><p>ESTABLISHED PROJECTS </p><p>*$1500 Au </p><p>CORCOESTO GOLD PROJECT, Galicia NW Spain </p><p>ENCHI GOLD PROJECT, GHANA </p><p> NPV 5% $340 Million </p><p> IRR 34% </p><p> PAYBACK yrs 2.5 </p><p> AVERAGE ANNUAL REVENUE $80M </p><p> 60 Km south west of Chirano Gold Mine (5M ounces) </p><p> Recently announced resource (749,000 ounces gold grading 1.13g/t) using </p><p>a 0.70g/t cut-off </p><p> +500sq km land package </p><p>100% Ownership </p><p>51/49 Joint Venture Kinross Gold Corp. </p><p>Investment Highlights </p><p>5 </p></li><li><p>George Salamis, President &amp; 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 &amp; A transactions valued over $1B </p><p>Greg Smith, P.Geo, Vice President Exploration +23 years exploration experience working for both junior &amp; senior mining operations and has been involved in outlining +10Moz gold discovery </p><p>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 &amp; A transactions valued over $750 million </p><p>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 </p><p>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&amp;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 Mining Corporation (2004 to 2006) before it merged with Lundin Mining. </p><p>Doug Forster, M.Sc. P.Geo, Director +30 years resource project development, M&amp;A, equity finance and public company management, Mr. Forster is President &amp; CEO of Featherstone Capital, he has been Founder and director of several public companies </p><p>Edgewater Team </p><p>6 </p></li><li><p>Mgmt &amp; Insiders </p><p>19% </p><p>Institutional 38% </p><p>Retail 38% </p><p>Kinross Gold Corp </p><p>5% </p><p>Ownership Share Structure </p><p>Issued &amp; Outstanding 76,705,437 </p><p>Warrants 6,515,000 @ 1.10 (2013) </p><p> 984,780 @ $1.10 (2012) </p><p> 7,806,500 @ $1.40 (2013) </p><p> 2,436,250 @ $0.50 (2013)* </p><p>22,117,750 </p><p>Options 7,902,000 </p><p>Fully Diluted* 106,725,187* </p><p>Cash $6,000,000 </p><p>Fully Diluted Cash $27.000,000 </p><p>If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&amp;I category on </p><p>the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M </p><p>warrants at $1.00 (included in the fully diluted number above). </p><p>*September 24 Edgewater sold a NSR royalty interest on the Corcoesto Gold Project and an </p><p>equity component to the same purchaser or the royalty </p><p>Edgewater Capital Structure (Sept 2012) </p><p>7 </p></li><li><p>Overwhelming support from all levels of government and community in Galicia, NW Spain </p><p>An autonomous region, all mine permits granted locally at the municipal and state levels (no federal approvals required) </p><p>Expedited permitting with Strategic Industrial Project awarded June 2012 </p><p>Excellent logistics with roads, power and water </p><p>PEA demonstrates robust economics with an average of 100k/oz a year gold project with expansion potential </p><p>Updated NI 43-101 Resource Estimate Q4, 2012 </p><p>Bankable feasibility study - Q4 2012/Q1 2013 </p><p>Mine permitting - Q4, 2012 </p><p>Project Finance underway - Q4, 2012 </p><p>8 </p><p>Corcoesto Gold Project </p></li><li><p>Overwhelming support from all levels of government and community in Galicia, NW Spain </p><p>Expedited permitting with Strategic Industrial Project awarded June 2012 </p><p>Strategic Industrial Project part of the Industrial Promotion act of Galicia </p><p>Minimization of processing time and priority for the project to advance with expedited permitting timelines </p><p>Exemption from municipal license </p><p>Declaration of the project as public utility and social interest </p><p>Additionally it involves rights for access to energy or water to the project site </p><p>9 </p><p>Corcoesto Permitting (Q4,2012) </p><p>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 </p><p>June 2012, The President of Galicia left held a press conference discussing the details of the Strategic Industrial Project for Corcoesto, the benefits to the local region including the creation of new jobs and investment </p></li><li><p>6,000 tpd Years 1-10 (Base Case $US1300/oz) </p><p>Average annual production (Au oz) 102,000 </p><p>Average annual net revenue ($US M) 60.0 </p><p>Metallurgical recovery (%) 89.1 </p><p>Strip Ratio 8.0/1 </p><p>Average annual net cost ($US/oz) 713 </p><p>Capital cost ($US M) (17.5% Contingency) 160 </p><p>$1300/oz $1500/oz </p><p>Payback (years) 3.4 2.5 </p><p>IRR (%) 24 34 </p><p>NPV (5%) (Million) 206 340 </p><p>Average annual net revenue ($US M) 60.0 80.3 </p><p>Corcoesto Gold Project PEA </p><p>Preliminary Economic Assessment NI43-101 Compliant includes inferred mineral resources that are considered too speculative geologically to have the economic considerations </p><p>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 </p><p>*Slide 10 containing details of the NI43-101 Compliant resource </p><p>10 </p></li><li><p>$0 </p><p>$50 </p><p>$100 </p><p>$150 </p><p>$200 </p><p>$250 </p><p>$300 </p><p>0 1 2 3 4 5 6 7 8 </p><p>Base Case ($1300/oz) </p><p>Edgewaters Corcoesto Project </p><p>Auryx Gold Corp Otjikoto Project *92% </p><p>Annual Avg Production 102,000 100,000 </p><p>Cash Cost $US/oz 713 725 </p><p>Initial Capital Cost 135* 110 </p><p>Mill Feed Grade 1.70g/t gold 1.52g/t gold </p><p>Strip Ratio 8.0:1 7.3:1 </p><p>Payback 3.4 yrs 4.9 yrs </p><p>Basic Market Cap $29 M $142 M </p><p>*B2Gold acquired Auryx Gold for $160M, excluding contingency, working capital and both projects are at the PEA stage. </p><p>Mkt</p><p> Cap</p><p> ($M</p><p>illio</p><p>n) </p><p>$28M Mkt Cap </p><p>$142 Mkt Cap (1.4M oz Au) </p><p>(1.5M oz Au) </p><p>Corcoesto Project / Peer Comparison </p><p>Edgewater Exploration Astur Gold Corp Group Average Auryx Gold Corp Ampella Mining Lydian International Gryphon Minerals </p><p>11 </p></li><li><p>Corcoesto Gold Project - Design </p><p>12 </p></li><li><p>1.5km </p><p>200m </p><p>Resource expansion potential significant at depth </p><p>Corcoesto Resource Expansion Potential </p><p>13 </p></li><li><p>NI 43-101 Resource Summary </p><p>Resource Class Cutoff (g/t Au) </p><p>Tonnes (x1000) </p><p>Gold g/t </p><p>Contained Gold (x1000 oz) </p><p>Measured 0.65 3,899 1.77 222 </p><p>Indicated 0.65 1,823 1.69 103 </p><p>Measured + Indicated 0.65 5,783 1.74 325 </p><p>Inferred 0.65/2.0 20,265 1.76 1,149 </p><p>14 </p><p> 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 spacings 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 spacings of 196 m </p><p> 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 </p><p>Corcoesto 2011 Resource Estimate </p></li><li><p>51/49 Joint Venture with Kinross Gold (TSX: K) </p><p>Mid-stage exploration comprised of 8 licenses totaling 568km2 </p><p>290km west of the capital city Accra, accessed via sealed roads </p><p>Locating the next +3-5M ounce gold deposit on the Bibiani Shear Zone </p><p>Bibiani Shear Zone hosts +25M ounces of gold, Enchi hosts the largest contiguous land package </p><p>Exploration and drilling program underway </p><p>2nd largest </p><p>producer in </p><p>Africa </p><p>6Moz Enchi </p><p>Cote dIvoire </p><p>3Moz </p><p>3Moz +5Moz </p><p>45Moz </p><p>37Moz </p><p>17Moz </p><p>5Moz </p><p>Enchi </p><p>15 </p></li><li><p>Analagous to Chriano and Bibiani Gold Mines </p><p>Chirano covers 9km of the Bibiani Shear Zone </p><p>Enchi covers 50km over the Bibiani Shear Zone </p><p>Trenching and soil sampling underway </p><p>Airborne geophysical survey identified +25 new targets </p><p>Enchi Gold Project </p><p>16 </p></li><li><p>NI 43-101 Resource Summary </p><p>Zone Cutoff (g/t Au) </p><p>Tonnes Gold g/t </p><p>Contained Gold </p><p>Boin 0.70 9,551,000 1.20 369,600 </p><p>Nyam 0.70 3,633,000 1.06 123,700 </p><p>Sewum 0.70 7,449,000 1.07 255,750 </p><p>Total 20,627,000 1.13 749,000 </p><p>17 </p><p>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. 5. Numbers may not add exactly due to rounding. 6. Mineral Resources that are not mineral reserves do not have economic viability </p><p>Enchi 2012 Inferred Resource Estimate </p></li><li><p>18 </p><p>Enchi Resource with cut-off Range NI 43-101 Resource Summary </p><p>Cutoff (g/t Au) </p><p>Tonnes Gold g/t </p><p>Contained Gold </p><p>0.30 71,241,000 0.65 1,489,295 </p><p>0.40 51,633,000 0.76 1,269,739* </p><p>0.50 37,278,000 0.89 1,063,868 </p><p>0.60 27,538,000 1.01 892,682 </p><p>0.70 20,627,000 1.13 749,081 </p><p>0.80 15,887,000 1.24 635,200 </p><p>0.90 12,644,000 1.35 546,878 </p><p>*West African average cut-off is 0.4g/t which represents +1.2M ounces Gold </p></li><li><p> Several different targets identified with multi-million ounce potential to build upon </p><p>Enchi Potential </p><p>2.65g/t Au over 35m </p><p>Open in all directions </p><p>1.44g/t Au over 17m </p><p>Open in all directions </p><p>(900m North of Boin Zone) </p><p>3 geo-chemical </p><p>anomalies over </p><p>3km long </p><p>Open in all </p><p>directions </p><p>1.13g/t Au over 34m </p><p>Open in all directions </p><p>Sewum highest geo-chemical </p><p>anomaly </p><p>Drill results include: 2.0g/t Au </p><p>over 30m, 0.53g/t Au over 81m </p><p>19 </p><p>1.14g/t Au over 68m </p><p>Open in all directions </p></li><li><p>20 </p><p>2 0 1 2 2 0 1 3 </p><p>Q1 Q2 Q3 Q4 Q1 </p><p>+35,000m Diamond Drill Program </p><p> Environment / Permitting </p><p>Project Financing </p><p> Final Feasibility Study </p><p>Mining </p><p>Permit </p><p>Edgewater News Flow &amp; Timeline </p><p> Resource </p><p>Estimate </p><p>Project </p><p>Finance </p><p>Feasibility </p><p>Study </p><p> Exploration work underway </p><p>Corcoesto </p><p>Enchi </p></li><li><p>Experienced management with mine building and project finance expertise </p><p>Completed a PEA demonstrating a NPV(5%) of $340M using a $1500 gold price. </p><p>EIA Submitted and Public Consultation completed (Strategic Industrial Project status) </p><p>Debt/Project Financing arrangement with Banks </p><p>Updated Resource estimate Q4, 2012 </p><p>Mine development permit Q4, 2012 </p><p>Bankable Feasibility Q4, 2012/Q1, 2013 </p><p>Construction decision Q1, 2013 </p><p> Ghana </p><p>Inferred Resource Estimate </p><p>South west of three large open pit and under ground mining operations </p><p>Locating the next 3-5M ounce gold deposit on the Bibiani Shear Zone </p><p>Bibiani Shear Zone hosts +25M ounces over a 200km strike length </p><p>Enchi covers 50km of the Bibiani Shear Zone </p><p>21 </p><p>Edgewater Summary ($12 EV/oz mkt avg $53/oz) </p><p>Spain </p></li><li><p>Contact Ryan King, Vice-President </p><p>604 628 1012 rking@edgewaterx.com www.edgewaterx.com </p></li><li><p>Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 </p><p>23 </p><p> +35,000m Drill Program </p><p> EIA Mine Permit </p><p> Project Financing </p><p> Final Feasibility Study </p><p>Mining Permit </p><p>Corcoesto Estimated Development Timeline </p><p> Resource Estimate </p><p>Project Finance </p><p>Feasibility </p><p>Study </p><p>Water License </p><p>Corcoesto </p><p>2 0 1 2 2 0 1 3 2 0 1 4 </p><p> Power plant and Tailing construction </p><p> Mine Plant construction Production </p></li></ul>