golden valley mines: exploring new opportunities in sierra leone staking, drilling and discovering 1

Golden Valley Mines:

Exploring New Opportunities in Sierra Leone

Staking, drilling and discovering

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• Continuous grass-roots exploration & generative programs 12 months of the year for precious and base metals

• Majority land ownership in over 150 properties, exposure to 3,883 claims and diversified commodities (Au, Cu-Zn, diamonds, Ni-Cu-PGE)

• 3 projects consisting of 1,413km2 in Sierra Leone, held through wholly owned subsidiary, Calone Mining Company (SL) Ltd.

• JV partners are used to leverage larger projects by providing substantial funding

• Only exploration drilling leads to discoveries; GZZ is continuously drilling!

Golden Valley « moose pasture »

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DESCRIPTION EXAMPLES

1IDEA

•Identification (staking) of prospective property

•Development of geological model

2EARLY STAGE EXPLORATION

•Grassroots exploration

•Up to discovery

3ADVANCED EXPLORATION

•Evaluate discovered ore bodies for economic viability or leverages into joint ventures Other Junior exploration

companies

4DEVELOPMENT OF PROJECT

•Economically viable projects are transitioned into production

Mid-tier Juniors

Major mining companies

5MINING OPERATION

•Cash flow generated from ProductionMajor mining companies3

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• Geology – Highly Prospective (Guyana Shield); West Africa; located in central part of Archean West African Craton

• Under-explored, low-cost/high potential reward proposition;

• Favourable Mining Act, updated November 2009;

•Recent Success by Competitors(London Mining, African Minerals, Cluff Gold)

Source: http://www.agapemeridian.com/Pangaea_continents.png

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• West African neighbours:

• Guinea (north)• Liberia (south)

• 6,000,000 population

• Approx. size of New Brunswick (Canada)

• Mining previously contributed approx. 20% GDP

• Mining accounts for approx. 90% of all exports

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• Geology – Highly Prospective (Guyana Shield)

• Star of Sierra Leone (969 carats)

• Under-explored, low cost / high reward proposition;

• Favourable Mining Act; revised November 2009

• Recent Success by Competitors (London Mining, African Minerals, Cluff Gold)

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• Calone Mining Company (S.L.) Ltd. is Golden Valley’s wholly owned subsidiary formed in 2009

Current Projects in Sierra Leone

• Three Project Areas consisting of:

• Au-VMS (Sula Mountains)• Diamonds (Sewa and Bafi Rivers)• Au-VMS @ Nimini Hills• Uranium potential in broad area

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Calone’s Board of Directors

Professor Arthur T. Porter (Snr.), M.R.S.L., M.A., Ph.D., D.H.L., D. Litt.; retired SL academic, former Chairman of National Diamond Mining Company Ltd

Hon. Dr Arthur T Porter, PC MD; Board member of Air Canada, Munder Funds, Member of Privy Council of Canada; DG/CEO McGill University Health Centre; Chairman of Calone

Vincent Kanu, GOOR; Chairman, National Petroleum; former Italian Counsul in Sierra Leone; Director of Access Bank

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Calone’s Board of Directors (cont’d)

J. David Allen, MA MBA; Managing Director of Calone Mining Company SL Ltd.; international business and trade development for GM, sourcing raw materials

Glenn J. Mullan P. Geo. (B.Sc.); geologist/prospector, founder of GZZ and Chairman Emeritus of Canadian Royalties Inc.

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Au-Cu-Zn-AgTargets

Diamond Targets

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• Abundance of mineral opportunities including iron ore, bauxite, rutile, gold, base metals, and diamonds

• GZZ now working in three project areas

• Initial focus are PreCambrian greenstone belts and diamonds areas in Kono district

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High grade gold, en echelon quartz veins mapped by Sierra Leone Geological Survey (within Calone’s APL’s)

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Bafi River – Kono Area

•GZZ/Calone have a Corporate Social Responsibility (“CSR”) policy in place and applies it to all Management, employees and contractors

•Actively working with the communities/Chiefdoms in Sierra Leone; early engagement to identify local priorities

•Committed to improving the social and living conditions in our work areas: health, education, employment, safety

•Governance, ethical business practices, engage host communities, sustainable development principals

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15Boundary Central Boundary East

Management Glenn Mullan – Chairman, President/CEOAnnie Karahissarian – CFOMichael Rosatelli – VP ExplorationLuciana Zannella – VP Corporate and Legal Affairs; Corporate Secretary

GZZ Board of DirectorsGeorge Cross (retired writer/journalist)Joe Groia (Lawyer, BA, JD)Blair Morton (Chairman/President , Ross Finlay 2000 Inc.)Glenn Mullan (Geologist, B.Sc.)The Hon. Arthur Porter (Medical Physician)Robert Smith (Businessman, B.Sc., MBA)Dr. Jens Zinke (Geophysicist ,BA, B.Sc., MS, PhD)

Key ConsultantsAuditors: Raymond Chabot Grant ThorntonBankers; Royal Bank of CanadaTransfer Agent: Computershare Investor ServicesLegal Counsel (External): Getz Prince Wells & Lavery de BillySierra Leone: Mr. Mohamed B MansarayBerthan MacCaulay jnr – Local Counsel

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Evaluate new opportunities in West Africa (primarily in Sierra Leone; precious and base metals, and industrial minerals opportunities)

Examine distressed opportunities

Generate new precious & base metals projects

Continue to work with local communities to identify CSR priorities (health, education, employment, “e3”)

Maximize shareholder value by using focus assets (Malartic CHL JV, Uranium JV's, Nickel projects and Sierra Leone) to attract "out-of-the-box" financing ideas

Build the Sierra Leone exploration team and expand effort; remote sensing and satellite interpretation; AEM surveys; local mapping and verification of historical mineral occurrences

Winter exploration program Beartooth Island Uranium Project "Ditem Option", Athabasca Basin, Saskatchewan (2008)

Otish Basin Uranium prospect « Lexam Option », North-Central Québec

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Warrants @ $0.70 2.0 million

Price $0.26

52 Week Range $0.07 - $0.43

Market Capitalization $16.6 million

Shares Outstanding 63.9 million

Average Daily Volume 141,000

Options Outstanding 5.8 million

Insider Ownership 7% Source: stockhouse.com

Working Capital $5.0 million

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As at March 4, 2010

John Kaiser

• “… Perpetual Lottery Ticket …”

Refers to our ongoing Abitibi Exploration Program designed to continuously drill-test promising targets

Lawrence Roulston

• “… extraordinary property portfolio … with huge upside potential …”

• “… more opportunities for exploration success than any other company …”

Refers to the quality and number of exploration properties in our portfolio (in excess of 140 including a large variety of commodities)

Safe Harbour Statement – “All statements other than those of historical fact that are within this presentation or made by the company representatives are "forward-looking statements" that may involve a number of unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.” 19

Golden Valley Mines Ltd. TSX-V:GZZ

For more information contact:: Glenn J MullanVal-d’Or Head Office

2864, Chemin SullivanVal-d’Or, Québec

J9P 0P8(819) 824-2808

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