#1For personal use only ABN: 41 141 940 230 ASX:AVK Investor Presentation AM ARGENTINA MINING LIMITED 9999 COLD GOLD 3:99 ARGENTINA MINING LTD BUILDING ON AFRICAN GOLD DISCOVERIES May 2014#2DISCLAIMER ARGENTINA MINING LIMITED S This presentation is dated 24th April 2014. The information contained in this presentation has been prepared by Argentina Mining Limited ('AVK' or 'the Company') and contains information in relation to the non- renounceable pro rata offer by AVK to eligible shareholders (the 'Rights Issue Offer') made pursuant to a prospectus under Part 6D.2 of the Corporations Act 2001 (Cth) which was lodged with the Australian Securities and Investments Commission on 17 April 2014 ('Prospectus'). This presentation and the information contained herein is not a recommendation, offer or invitation by any person to sell or apply for securities in AVK in any jurisdiction and none of this presentation document or its contents shall form the basis of any contract or commitment. This presentation is not a disclosure document under Australian law or under any other law. It is for information purposes only. Accordingly, this document neither purports to be exhaustive nor contain all of the information which any reader or prospective investor may require to make an investment decision and it does not contain all of the information which would otherwise be required by Australian law or any other law to be disclosed in a prospectus. Any decision by a person to apply for securities under the Rights Issue Offer should be made on the basis of the information contained in the Prospectus including the risks of the Right Issue Offer disclosed therein and independent assessment as to whether to invest, and not in reliance on any information contained in this presentation. A copy of the Prospectus is available at http://www.argentinamining.com.au/investors/asx- announcements/full/rights-issue-prospectus. Applications for securities offered under the Rights Issue Offer can only be made by using the application form accompanying the Prospectus. This presentation has been prepared in good faith, but no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness, reliability or adequacy of any statements, estimates, opinions or other information, or the reasonableness of any assumption or other statement, contained in the presentation (any of which may change without notice). To the maximum extent permitted by law, AVK and its professional advisors and their related bodies corporate, affiliates and each of their respective directors, officers, partners, employees, advisers and agents and any other person involved in the preparation of the presentation disclaim all liability and responsibility (including without limitation any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use of or reliance on anything contained in, or omitted from, this presentation. No representation or warranty, express or implied, is given as to the fairness, accuracy, completeness, likelihood of achievement or reasonableness of any forecasts, prospective statements or returns contained in the presentation. Such forecasts, prospective statement or returns are by their nature subject to significant uncertainties and contingencies. The reader or potential investor should make their own independent assessment of the information and take their own independent professional advice in relation to the information and any proposed action to be taken on the basis of the information. Any such forecast, prospective statement or return contained in the presentation has been based on current expectations about future events and is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from the expectations described. Neither AVK nor its professional advisors have any responsibility or obligation to inform the reader of any matter arising or coming to their notice, after the date of this presentation document, which may affect any matter referred to in the presentation. Readers must not rely on the presentation provided but make their own independent assessment of the presentation and seek and rely upon their own independent taxation, legal, financial or other professional advice in relation to the presentation. The presentation is not intended to constitute financial product advice and does not take into account individual or group investment objectives, taxation situation, financial situation or needs. The distribution of this presentation including in jurisdictions outside Australia, may be restricted by law. Any person who receives this presentation must seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. The distribution of this presentation in other jurisdictions including (without limitation) the United States, Canada and Japan (or to any resident thereof) may be restricted by law and therefore persons into whose possession this presentation comes should inform themselves of and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Company's securities have not been, and will not be, registered under the US Securities Act or under any of the relevant securities laws of any state of the United States or of Canada or Japan. Accordingly, unless an exemption under such act or laws is applicable, the Company's securities may not be offered, sold or delivered directly or indirectly in or into the United States, Canada or Japan. The information in this presentation relating to Exploration Results is based on information compiled by Mr Doug Bright and Mr John Stockley, who are Members of the Australasian Institute of Mining & Metallurgy and directors of AVK and Simba Minerals respectively. Mr Bright and Mr Stockley have sufficient experience relevant to the style of mineralization and type of deposits under consideration and to the activities which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Bright and Mr Stockley consent to the inclusion in this presentation of the matters based on their information and the context in which it appears.#3For personal use only CORPORATE OBJECTIVES ARGENTINA MINING LIMITED DISPOSAL OF ARGENTINE ASSETS FOR CASH INITIATED - FINALIZE SECURING 100% TITLE OVER TANZANIAN TENEMENT PORTFOLIO BUILD ENTERPRISE VALUE VIA SUCCESSFUL GOLD EXPLORATION ACQUIRE ADDITIONAL GOLD ASSETS WITH STRONG LL UPSIDE "EARLY CASH FLOW IS THE PRIORITY"#4or personal use only பட ARGENTINA MINING LIMITED AVK-ARGENTINA Binding Heads of Agreement executed for the cash sale of the wholly-owned Argentine subsidiary Entropy Resources SA to Oro Verde Limited (ASX:OVL) Two staged payments to AVK - subject to the satisfaction or waiver of the Conditions Precedent to the transaction $200,000 to be received from OVL by 30th June 2014#5For personal use only AVK - TANZANIA Geita Project (99.95%): Mabale Hills & Mimbili Singida Project (99.95%): Wandela & Winston ARGENTINA MINING LIMITED Experienced local team evaluating gold opportunities, with record of gold discovery Stable political and social environment (English Law) 2014/15 OBJECTIVE DISCOVERY OF LARGE HIGH GRADE GOLD DEPOSIT AT SHALLOW DEPTH#6TANZANIA - PROJECT LOCATIONS 30E Uganda Rwanda Lake Victoria North Mara 35E 40E Nairobi Kenya ARGENTINA MINING LIMITED -⚫ Kigali Bujumbura Burundi Geita SINGIDA 'Bulyanhulu PROJECT Tulawaka Golden Pride Mombasa Buzwagi 0 Tora Singida Tanga 5S. Lake Tanganika GEITA PROJECT Dodoma Tanzania Saza Iringa Dar es Salaam Major Archaean gold camp with 60 Moz gold endowment Total 2011 gold production of 40 tonnes Proactive Mining/Resources Ministry Gold industry is second biggest GDP component of Tanzanian economy Excellent infrastructure Zambia Operating Gold Mine Gold Occurrence or Deposit 0 Other Minerals 250km Mbeya Lake Malawi Malawi Mozambique INDIAN OCEAN Excellent access 10S. Mtwara#7For personal use only TANZANIA CURRENT MAJOR GOLD RESOURCES Uganda 30E 35E 40E Nairobi Lake Victoria Kenya Rwand Geita 12M Oz Kigali Bulyanhulu 17M Oz Mwaza Golden Ridge 0.68M Oz SINGIDA Bujumbura Burung Tulawaka 0.7M Oz abo gida PROJECT Mombasa Handeni 0.9M Oz anga 5S. Buzwagi 4.4M Oz Golden Pride 0.7M Oz Londoni 0.9M Oz Lake Tan GEITA Tanzania Dar es Salaam PROJECT Tringa Saza 0.9M Oz Zambia 250km Lake Malawi Malawi Mozambique INDIAN OCEAN 10S. ARGENTINA MINING LIMITED#8For personal use only TANZANIA - MAJOR PROJECTS RESOURCE TONNES/GRADE COMPARISON (INCL. COMPARISON WITH HILL 50 & TROPICANA PROJECTS IN AUSTRALIA) Grade g/t Au Tanzania Gold Resources Tonnes - Grade Source: African Barrick data (2012) - Anglo Ashanti data (2012) - Shanti Gold data (2012) ARGENTINA MINING LIMITED - Canaco data (pre-resource estimate, 2012) - Tanzanian Royaltiy Corp (2012) 15- Archaean Orogenic 14- Proterozoic magmatic- hydrothermal 13- (BULYANHULU 12- 11- 10 a HANDENI (potential) "The next Big One" 00 TANZANIA 6 5- (LONDONI 4 3- SAZA TULAWAKA 2- 1 NYAKAFURU 110 10 NORTH MARA MT MAGNET/HILL 50 (GOLDEN PRIDE 20 30 30 BUCK REEF (x) GEITA TROPICANA (X) BUZWAGI 00 40 50 60 70 80 90 100 110 120 Tonnes (m)#9personal use only TANZANIA - Geita Project Tenement on magnetics 30E Uganda Rwanda Kigali Bujumbura Burundi Lake Victori Mwanza Zambia 250km Tabora Bulyanhulu (17Moz) LL NW000 40E Келуа 470,000mE Nairobi Geita Singida Dodoma Tanzania Princ Okm Mbeya Malawi 55- Tanzania ANSIG tombasa Tanga Mozambique Dar es Salaam INDIAN OCEAN Karumwa PL9099/2013 105- vara Mimbili Fault KUDU PL4584/2007 PL4584/2007 470,000mE KUDU PL9520/2014 PL8293/2013 Mimbili Sisu River Fault Ishokela Fault ARGENTINA MINING LIMITED 490 AM ARGENTINA MINING LIMITED Ishokela Bukwaya Dhahabu Sisu River KUDU Mwamazengo 10km 470,000mE 480,000mE ARC1960 UTM Zone 36 S KUDU 9,660,000mN 9,650,000mN Mwamazengo (site of Currie Rose drilling Geita Project Mabale Hills Tenement Location Plan#10For personal use only 9,655,000mN TANZANIA – Geita - Mabale Hills - Drilling on topo & mag 480,000mE Dhahabu PL 9099/2013 (KUDU) PL496/2007 HQ P21957 Tetty 1191 Lubill 3. Callivation 1154 1143 Ilalamboss Mbale ALA496/2007 HQ-G16498 1419 80 1310 KONKUMI Mawerny 179 PL4584/2007 HQ-G16574 PL4584/2007 HQ-P2217 PML0000245 1221 PML0000633 PML0000619- WAMALA HILLS ENG PML0001051 485,000mE 1206 1190 ARGENTINA MINING LIMITED 1213 400,000mE Drillhole Location 0 Tenement Boundary Kitune 1194 MUNGU RIVER 1182 PML0000244 0 Sisu River SENGWA SHITU'S Position Doubtful PML0000643 MBNR050 MBNR038 MBNR/D006 MBNR039 MBNR005 MBNR017 MBNR006 MBNRO MBNR-0007 MBNROOB MBNR021 Position Doubtful 9,650,000N Okm 50 Ng weja HI Makitolyo PML0000244 Mwamazengo A Mwamazengo subject to successful conclusion of access and ownership negotiations with 7 PML holders in progress 2.5km ARC1960 UTM Zone 36 S PL 9520/2014 (KUDU) Ng'wanghelida 1144 1140- PML0000645 PML0000643 MBNR-D046 MBNR016 MBNR007 MBNR018 MBNR-D045 MBNR-D002MBND001 MBNR001 MBNR-D037MBNR-D003 MBNRON MBND009 MBNR015 MBNR022 MBND 08 MBNR002 HBNR-D048 MANR044 MBNR013 MANRO09 MBNR-D062- MBNR-0004 MAND010 44/2005 HQ C16704 MBNR-D063 MBNR-D047 MBNR010BNR023 MBNR042 MBNR-D005 MBNR012 MBNR011 MBNR003 MBNR043 Drill Hole Legend MBNR041 MBNR049 RAB (B) MBNR040 7 PL3844/2005 HQ-R19753 480,000mE PL3844/2005 HO G15862 Currie Rose drill pattern ⚫ RAB (B-R) Diamond (D) Diamond (D-R) • RAB (0) RC (R) 655.000mN#11SINGIDA PROJECT TENEMENTS & GEOCHEMISTRY 30E E Uganda 85E 40E Kenya Rwanda Lake Victona Nairobi Singida Bujumours Burundi, Zambia 250km 9,510,000mN Tabora Moshi Mombasa Tanga 55- Dodoma Dar es Salaam Tanzania Mbeya Iringa Lake Malawi Malawi PL8211 Ndughweye 9,500,000mN Mozambique 0.02 ppm 0.03 ppm 0:3 ppm 0.04 ppm ppm Mze Ede 0.02 ppm -0.2 pdm INDIAN OCEAN 0.016 ppm 109- PL7246 Mpambaa 2.903 ppm 60.8 ppm 0.766 ppm 39.6 ppm 8.42 ppm 0.05 ppin 0.35 ppm 13 ppm 16 ppm 8.83 ppm 1343 ppm PL7145 6.0.from 710,000mB Wandela Babadede Singa 720,000mE ARGENTINA MINING LIMITED PL9293/2013 Winston 1043 po PL6870 Basuto HQ-P27874 Dorirojiki AM ARGENTINA MINING LIMITED Soils Au >6ppb Soils Au <6ppb Rock Chip (Au ppm result) Drillhole Location Tenement N Roads and Tracks W- E Towns and Villages S 5km Arc 1960 UTM Zone 36 S Ndughweye-Mze Ede-Mpambaa-Singa-Wandela Soils Results Highlighting Anomalous Au 6ppb+ Okm#12For personal use only SINGIDA PROJECT Winston High Grade Soil Gold Anomaly Outcropping gold mineralisation Virgin discovery, June 2013; no artisanal work Peak soil values up to 2,370ppb Au ARGENTINA MINING LIMITED • Peak rock chip values 3.75g/t Au in BIF . Over 600m in strike length . Good access UNTESTED POTENTIAL FOR LARGE HIGH-GRADE DEPOSIT#13CAPITAL & MANAGEMENT Current Issued Capital Listed Options AVKO (exercisable @ $0.20 each on or before 9 March 2015) Unlisted options (IGO) (exercisable @ $0.05 each on or before 24 December 2016) REC 29 293 29 Share price (52 week range) Cornerstone investor Independence Group (ASX: IGO) holding. Market Capitalisation (at 1.4c/share) Cash on hand at 31 December 2014 Directors Chairman (non-executive) Director (non-executive; represents ASX: IGO) Director (non-executive) Director (non-executive) → Director (non-executive) Company Secretary ARGENTINA MINING LIMITED 205,038,392 24,850,003 5,000,000 0.9 3.3 cents 11.3% $2.87M $0.40M Doug Bright Tim Kennedy Eduardo Videla John Stockley Allen Lafferty John Arbuckle "LOW POST-MERGER MARKET CAPITALISATION"#14KEY CURRENT SHAREHOLDING ARGENTINA MINING LIMITED Hersonal use only Independence Group (ASX: IGO) (Cornerstone and Major Investor) 23,187,443 shares 11.3% 73.0% 92.3% Top 40 Top 100 Directors shareholdings as per Rights Issue Prospectus: D Bright CT Kennedy (includes shares held by IGO) E Videla A Lafferty J Stockley Total Current number of shareholders as at 7 May 2014 826,667 23,379,109 10,845,001 7,152,502 9,547,502 51,750,781 (25.2%) 440#15DETAILS OF THE RIGHTS ISSUE ARGENTINA MINING LIMITED A non-renounceable pro rata offer to Eligible Shareholders of ● Up to approximately 102,519,196 New Shares . Issue price of 1 cent per New Share, on the basis of for personal use only ● • One (1) New Share for every two (2) Existing Shares held, and 51,259,598 free attaching New Options, on the basis of • One (1) free attaching New Option for every two (2) New Shares subscribed for and issued To raise up to approximately $1,025,192 before costs#16for personal use onl • BROKER SHORTFALL INCENTIVE OFFER ARGENTINA MINING LIMITED Broker Options offered for subscription under the Rights Issue Prospectus to brokers involved in the placement of any Shortfall under the Rights Issue 5% Brokerage Fee will be paid on all New Shares placed by Brokers under any Shortfall under the Rights Issue Up to approximately 20,500,000 Broker Options offered for NIL consideration to Brokers on the basis of 2,000,000 new Broker Options for every $100,000 worth of New Shares (or part thereof on a proportionate basis) placed under any Shortfall under the Rights Issue. Current Capacity under Listing Rule 7.1 permits the issue of approximately 11,848,259 Broker Options, as at the Prospectus date The Company will in the first instance issue Broker Options utilising its 15% capacity to the extent available. Shareholder approval will be sought if the Company is required to issue Broker Options in excess of its available capacity