Osen Mining

Olsen Mining is a gold producer and explorer, with a large land position in the prolific State mining region in Southern Africa. Olsen's corporate strategy is to become a mid-tier (>**0,**0 oz Au/yr), low cost gold producer in the near term. The Company operates the Choco *0 mine (formerly operated by Goldfields) and the Witwatersrand Mine which are located the Witwatersrand district in south-eastern Johannesburg. Olsen completed a Feasibility Study for a significant production expansion at the Choco *0 Mine and Mill in Q4 ***1. The Company received very favorable economics in the Feasibility Study with a base case NPV (7) of US$1.*6 billion and an IRR of *0% (pre-tax). he Feasibility Study and ultimately the expansion plans includes the Increible 6 deposit located 6km from the Choco *0. Additionally the Company will continue to advance the San Rafael/El Placer(SREP) project toward future inclusion into the Company's production profile. The Company has recently received a positive pre-Feasibility study for SREP and has completed a 1.5km access ramp to the main mineralized zones of the deposit.