Patagonia Gold Plc

2008

updated May 2008

 IMPORTANT NOTICE
The information contained in these slides has been prepared by Patagonia Gold Plc ("the Company"). The information in these slides is subject
to updating, completion, revision, further verification and amendment without notice.
These slides have not been approved by the United Kingdom Listing Authority as a prospectus under the Prospectus Rules (made under Part VI
of the Financial Services and Markets Act 2000 ("FSMA")) or by the London Stock Exchange. These slides do not constitute or form part of any
offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall they or any part of them form the basis of or be relied on in
connection with, or act as any inducement to enter into, any contract or commitment whatsoever. No reliance may be placed for any purpose
whatsoever on the information or opinions contained in these slides or the presentation.
No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or any of its
directors, officers, partners, employees, agents or advisers or any other person as to the accuracy or completeness of the information or opinions
contained in these slides or the presentation and no responsibility or liability is accepted by any of them for any such information or opinions or
for any errors, omissions, misstatements, negligence or otherwise for any other communication written or otherwise. In addition, in issuing these
slides, the Company does not undertake any obligation to update or to correct any inaccuracies which may become apparent in these slides.
Notwithstanding the aforesaid, nothing in this paragraph shall exclude liability for any undertaking, representation, warranty or other assurance
made fraudulently.
The statements contained in these slides and the presentation may include "forward looking statements" that express expectations of future
events or results. All statements based on future expectations rather than on historical facts are forward looking statements that involve a
number of risks and uncertainties and the Company cannot give assurance that such statements will prove to be correct. Any forward looking
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looking statements to reflect any changes in expectations, events, conditions or circumstances upon which such statements are made.
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(Financial Promotion) Order 2005 ("Financial Promotion Order") as amended: including investment professionals as defined in article 19(5), high
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May 2008
 PATAGONIA GOLD PLC
Directors/Officers

Sir John Craven (Non-Executive Chairman)

Carlos Miguens (Non-Executive Deputy Chairman)

William Humphries (Managing Director)

Gonzalo Tanoira (Finance Director)

Richard Prickett (Non-Executive Director)

Marc Sale (Director of Operations)

AREA OF OPERATION

Patagonia Gold through its subsidiary

Patagonia Gold S.A. (PGSA) operates in
five of the Argentine Provinces and
Region XI in Chile

Province Property Holding

Santa Cruz 72
Chubut 97
Rio Negro 4
Neuquén 0
San Juan 5
Chile 7

Total Properties 185*

Total area held is 7,117 km²

*approximate
 DEVELOPMENT OBJECTIVES
¾TO BECOME A GOLD PRODUCER BY 2010
¾ADVANCING THE LOMADA DE LEIVA GOLD PROJECT
THROUGH PRE-FEASIBILITY AND FULL FEASIBILITY (2008/9)
PERMITTING AND CONSTRUCTION (2009/10)

¾GROWTH
¾EXPANSION OF THE LOMADA DE LEIVA GOLD PROJECT
THROUGH EXPLORATION
¾ADVANCING THE CAP-OESTE GOLD-SILVER PROJECT
TOWARDS PRODUCTION BY 2012

¾ SUSTAINABILITY
¾ADVANCING THE LA MANCHURIA GOLD-SILVER DEPOSIT
TOWARDS PRODUCTION
¾EXPLORATION AND DEVELOPMENT OF PGD’s HIGHLY
PROSPECTIVE PORTFOLIO OF PROPERTIES IN SANTA CRUZ
AND OTHER PROVINCES.
SANTA CRUZ
LOMADA de LEIVA
 PLAN OF GEOLOGY WITH DRILLHOLES
LA PALOMA PROJECT
COMPLETED and PLANNED
LOMADA DE LEIVA
• Drilling campaign of 62 holes for 8,862 metres.
• NI 43-101 Resource estimates at 0.30
grams per tonne gold (Au) cut-off are:
Measured and Indicated 161,346 ounces Au.
Inferred Resources of 73,725 ounces Au.
• Geophysical Survey completed.

• Scoping Study completed June 2008

• 5,000 metres of drilling planed to test
geophysical anomalies and expand resource
• Complete a Pre Feasibility Study on the
Lomada

BRECCIA SOFIA
• Drilling campaign of 13 holes for 2,493 Metres.
• Geophysical Survey

• Follow-up drilling
LOMADA de LEIVA Section - N8525 interpretation
 LOMADA de LEIVA

Long section gold g/t x metres

10g/m

10g/m
LOMADA de LEIVA NI43-101 Resource Statement
Cap Oeste
SANTA CRUZ
 EL TRANQUILO
COMPLETED and PLANNED

CAP OESTE
• Drilling campaign of 95 holes for 11,200 metres
• Detailed geophysical survey
• Peripheral exploration, mapping and trenching
•NI 43-101 Resource Study commenced

•Further drilling on Main Zone and extensions

•Commence Scoping Study in October
• Explore parallel trends

BRECCIA VALENTINA
• Drilling campaign of 11 holes for 1,950 metres
• Geophysical survey
• Follow-up drill programme

•Assimilation of exploration and drilling data

•Follow-up drill programme
CAP OESTE drill hole locations
to CO-095
CAP OESTE Section N9950 interpretation of geology
 CAP OESTE

Long-section showing Au x metre

CAP OESTE Fault corridor, showing current drill model
adapted to show schematic exploration concept
 CAP OESTE drill hole locations
to CO-095

CAP OESTE
exploration along structure
La MANCHURIA
SANTA CRUZ
 La MANCHURIA

COMPLETED and PLANNED

•Mapping rock chip sampling

•Validation trenching and

drill core sampling

•Drilling campaign of 20 holes

for 3,980 metres

•Geophysical survey

•Assimilation of exploration and

drill results

•Additional trenching and

peripheral exploration

•Follow up drill programme

to extend known mineralisation
 La MANCHURIA Drill hole location plan
Significant results from initial
diamond drill hole programme
Drill Hole No From (m) Interval (m) Au g/t Ag g/t
LM-001-D 52.5 0.8 32.42 62
and 62.7 0.95 4.84 44
and 86.25 0.75 13.6 290
and 125.5 0.4 4.19 666
LM-002-D 43.3 0.55 8.08 10
and 52.55 1.51 6.38 4,521
LM-003-D 47.8 1.15 10.1 16
LM-005-D 22 0.65 3.17 1,445
LM-007-D 63.5 0.6 7.94 801
and 87.8 0.5 2.76 1,060
LM-008-D 62.3 1.5 10.9 21
and 82 0.5 20.1 2,980
and 90 0.5 20.2 509
and 105.9 0.7 11.55 963
and 165.25 0.6 11.65 5
LM-010-D 262 5.3 6.1 10.15
including 262.7 0.7 14.25 64.1
including 266.5 1.5 14.85 3.9
LM-011-D 71.3 0.8 13.8 38.7
and 94.4 0.55 12.35 2220
and 172.5 0.5 5.82 1980
LM-012-D 135.1 0.5 13.85 26.2
and 192.6 0.55 7.79 4920
LM-014-D 103.8 1.2 10.3 735
LM-015-D 60.7 1 20.1 23.3
and 95.25 1.2 58.9 4150
LM-016-D 187.85 0.85 11.8 33
LM-017-D 68.00 1 14.5 19
LM-020-D 119.5 2.85 22.35 401
including 121.65 1.55 27.53 612
including 121.65 0.7 31.4 246
La MANCHURIA cross section of N5275
 PGSA and FOMICRUZ
form strategic partnership
in Santa Cruz
• Letter of Intent between the two parties signed in
BsAs on 7th May

• PGSA will acquire a 90% interest and Fomicruz SE

will acquire a 10% interest in a NewCo

• PGSA to contribute approximately 100,000 ha

consisting of : La Paloma, El Tranquilo and La
Manchuria block of properties

• Fomicruz SE. to contribute approximately 100,000

ha, close to PGSA´s El Tranquilo and La Manchuria
block of properties.

• PGSA will manage the exploration and potential future

development on the properties and expend US$5
million in 5 years

• Miguel Angel Ferro, Fomicruz SE's President said:

"We look forward to being a partner of an Argentine
based mining company. Our experience in the Santa
Cruz resource industry…will help facilitate the rapid
development of the projects, which will bring
significant benefits to the people of nearby
communities…”

(source: PGSA press release of 8th May 2008)

CHUBUT PROVINCE
 HUEMULES PROJECT
• Includes the Huemules mine, which
produced bonanza grade gold in
early 1990’s
• Huemules vein system is over 3km
long and up to 20m wide
• Most drilling to date confined to the
known high-grade-shoots in
Huemules North and South sectors
• Core sample grades confirmed up
to 2,338g/t Au and 1,020g/t Ag
• Base metal values up to 6% Pb,
9% Zn, and 1.2% Cu
• Initial resource of 115,607ozs @
18.9 g/t Au and 30.2 g/t on
Huemules Norte
 PROGRAMME SUMMARY FOR 2008
• Undertake extra 11,000 meters drilling programme on key Projects and prospects.

• Lomada de Leiva to start pre-feasibility.

– Recommenced drilling in May 2008 to expand the resource
– Complete Scoping Study
– Advance to Pre- Feasibility

• Cap Oeste prospect continue infill and extension drilling.

– Produce a NI43-101 compliant resource estimate.
– Geophysics Survey

• La Manchuria prospect
– Evaluation of drill campaign
– Follow-up drilling on southern extension.

• Breccia Sofia, Breccia Valentina and Cerro Vasco prospects:

– Exploration to define potential drill targets.

• Exploration and Reconnaissance in the existing areas of licence in Santa Cruz.

• Continue to work with both local and regional Governments towards the development
of the Huemules Project.