Strategy

Ovoca Gold has a strong team of experienced geologists and metallurgists who have a deep track record of success in the Far East of Russia, particularly in the Magadan Region. Team members have played an instrumental role in the development and operation of the following mines:

Mine name    Ownership

• Kubaka         Kinross – Polymetal
• Julietta          Bema Gold – Kinross – Northern
• Karalveem     LL Gold
• Lunnoye        Polymetal
• Dukat            Pan American Silver – Polymetal
• Goltsovoye    Ajax – Ovoca – Polymetal
• Arylakh         Polymetal

Ovoca Gold will use its team’s experience and its financial resources to develop the Company’s portfolio of Magadan gold properties. Management intends to build a company that by 2013:

• Will have a cash generating asset by putting Stakhanovsky into fast-track production, producing between 30,000 – 50,000 ounces Au annually (preliminary in-house estimate)
• Has developed a significant gold resource at Rassoshinskaya ready for feasibility study and/or JV partnering with a global mining company
• Will have a JV partner for Nevsko-Pestrinskoye to capitalize on the ore zone extensions beyond the Goltsovoye silver deposit sold by Ovoca in 2008
• Will have selectively evaluated and possibly acquired gold/silver properties with a bias to projects in the Magadan Region where synergies with the Company’s existing operations can add immediate value