Kat Gold Holdings Corp.

(OTC.BB: BVIG)

Business Summary
March 2012 An Emerging Company with a Strong Portfolio of Mining & Mineral Exploration Properties and A Prudent Strategy for Growth in the Economy of Today

Disclosure Statement: While the information herein has been developed by Kat Gold Holdings Corp. (Kat Gold or the Company) and is believed to be accurate. Kat Gold expressly disclaims any and all liability for the representations or warranties, expressed or implied, contained in this Summary, or for any omission of information. Certain statements in this Summary constitute forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those implied by the forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only as of the date the statements were made and readers are advised to consider such forward-looking statements in light of the risks inherent in Kat Golds business. Kat Gold shall not, and shall have no obligation to, update this summary. This summary is strictly confidential and may not be distributed. THIS IS NOT A SOLICITATION FOR THE SALE OF SECURITIES

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TABLE OF CONTENTS
Kat Gold Holdings Corp. ..............................................................................................................................1 Preamble .......................................................................................................................................................2 Business History & Description .................................................................................................................3 Ekom Eya Mining Operation ..........................................................................................................................4 Ghana Overview ......................................................................................................................................... 14 Management Team .................................................................................................................................... 16 Use of Funds ............................................................................................................................................... 19 Appendices - Bibiani North Drilling Summary 2007 ................................................................................... 20 Handcamp Property ................................................................................................................................... 25 Geology................................................................................................................................................... 26 Previous Exploration............................................................................................................................... 28 Current Exploration ................................................................................................................................ 29 Induced Polarization Geophysics ........................................................................................................ 30 Trenching ............................................................................................................................................ 32 Diamond Drilling ................................................................................................................................. 32 Recommendations.................................................................................................................................. 35 Phase 2 ............................................................................................................................................... 35 Additional Exploration Phases ............................................................................................................ 35 Rusty Ridge Property .................................................................................................................................. 38 Geology and Deposit Model ................................................................................................................... 38 Previous Work ........................................................................................................................................ 38 Colliers Property ........................................................................................................................................ 44 South Lucky Property ................................................................................................................................. 47

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Preamble
Kat Gold Holdings Corp. (OTC.BB:BVIG) (Kat Gold or the company) is an emerging entity whose primary goal is to obtain a high-quality portfolio of creditable mining and mineral exploration properties ranging from advanced to revenue producing projects, each of which would be deemed to have superior potential for mineable ore bodies. Commodities of interest are precious and base metals with particular emphasis on gold, silver and copper. Implementation of this plan has already begun through the purchase of such projects as the Ekom Eya gold deposit located in the Bibiani Gold Belt, Ghana Africa, along with the Handcamp Property, a very promising gold and base metals exploration property in central Newfoundland, Canada, known for its world-class mineral deposits and offshore oil reserves.

The Ekom Mining Operation

Based on previous drillings, there is a minimum gold resource of 300,000 oz, with intersections between 2m-8m of grades upto 24g/t. There is also a waste dump estimated to contain 30,000t with reported grades up to 9.76g/t (representing a minimum of 4,000 oz) and a tailings area with sampling results as high as 21.2g/t. KAT Golds Managing Director in Africa is Thomas Brookes - for more than 30 years, Thomas Brookes has been involved in the exploration and extraction of natural resources from drilling for oil and natural gas in Canada's high arctic to prospecting for gold in northwest British Columbia and the Yukon Territory as the president of Virgin Gold Inc.. The Ekom Eya Mining operation is a partnership with an existing mining operation located in the Bibiani Gold Belt.

Project Highlights: Bibiani Gold Belt Partnership with Ekom Eya Mining Cooperative Historical mining on property -1939-1941- 30,000oz extracted from 90,000t ore (10g/t) Drilling on property including 49g/t over 2m and 19.7g/t over 2.1m Waste dump estimated to be 30,000t with reported grades up to 9g/t

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Tailings estimated 60,000t at up to 21.2g/t in Pamunu river Inferred resource of 1,380,887 tons @ 6.0g/t (266,380 ozs) (based on 17 hole drill results), with intersections between 2m-8m of grades upto 24g/t, Opportunity for additional drilling KAT Gold is seeking $7.3 million in financing to purchase equipment and for working capital to launch the Ekom Eya Mining Operation project. This will provide capital to begin production as well as assess and implement the working on the balance of Ekom Eya Mining Operation's deposit.

Use of Funds Purchase of mining equipment Cost of Financing, legal etc Operating Capital & Contingencies Total

Budget $4,680,000 $1,100,000 $1,520,000 $7,300,000

Business History & Description

KAT Gold is a publically traded mining company with exploration properties in Canada and Ghana. KAT Gold incorporates the following values to guide its mining operations and interactions with shareholders, local governments, indigenous peoples, employees, partners, and customers: Consider the outcome of all its stakeholders in major operational and business decisions institute standards to promote the safety of its employees and contractors Maximize the financial return to shareholders Engage local indigenous peoples and ensure that they are fairly compensated Reclaim used land to an environmentally/agriculturally sustainable state Engage in regular open dialog with all stakeholders

KAT Gold will pursue a combination of prospective mineral exploration properties as well as gold concessions with proven gold reserves capable of production within a short period of time.

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Ekom Eya Mining Operation

The Ekom Eya concession lies about 7 km to the north of Bibiani Township. It measures 24.79 acres and was part of the Bibiani North License held by Central African Gold.

The ore body was discovered by the Gold Coast Selection Trust in 1933 when excavating a trench in the vicinity of an auriferous quartz float. The company carried on prospecting and finally exploited the ore body actively from 1939 to 1941 during which 30,000 oz of gold was extracted from some 90,000t of ore at an average grade of 10g/t. It is reported that gold recovery at that time was about 80%. This high recovery is doubtful as later studies located waste dumps of the old mine with grades ranging between 4g/t and 5g/t. It is therefore deduced that gold recovery at that time might hover around 55%. Selective high grade mining was the order of the day and it is common to find grades as high as 7.0g/t in the old waste dumps and in the adjoining walls of mined out stopes. A recent grab bag sample of the waste dump conducted in September 2011 resulted in grades as high as 9.76g/t. and samples from the Tailings as high as 21.2g/t. In 1964, International Gold Resources (IGR) obtained the rights to explore the area through Echo Bay Ghana. A blanket soil geochem was carried out and striking soil anomalies occurred over the Bibiani North ore body (herein referred to as Ekom Eya Property). However, an airborne geophysical survey carried out failed to pick the ore body.

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Echo Bay Ghana drilled 7 diamond holes along the length of the of the ore body into the old workings and got 2 promising results: 49g/t over 2m and 19.7g/t over 2.1m. These indicated that there are very rich shoots within the broad shear zones. In 1996, Ashanti Goldfields (AGC) took over IGR and concentrated on operating the Main Bibiani open pit. However, AGBL, a subsidiary of AGC was brought on board to delineate any economic mineralization within the Bibiani North License area. AGBL carried out sampling of the old mine waste dump estimated to be 30,000t and located just north of the old shaft in 1997 and reported grades between 4g/t and 5g/t. Using these figures, the waste dump would be estimated to contain 9,600 ounces of gold. Tailings of the old mine were deposited in a wide shallow valley lying to the east of the ore trend. This valley drains north-easterly into the semi perennial Pamunu River. Soil sampling indicated that substantial amounts of tailings might have been washed into the Pamunu River but it is estimated that about 60,000t at 5g/t can be retrieved. Using these figures, the tailings would be estimated to contain 2,894 ounces of gold. These findings encouraged AGBL to pursue a 23 hole drilling program in 1998. The holes were pre-collared by 50-65 meters of RC drilling and were completed by 15-30 meters diamond drilling (NQ). The holes were aimed at the interface of transition to sulphides, but a few deeper holes were drilled as well. Results include 19.2g/t over 1.2meters next to a stope which invariably is a skin of a mined out stope. Another intersection was 12.1g/t over 4.3 meters. The Bibiani North ore body strikes virtually north-south. Over a distance of approximately 600m is marked by artisanal workings into the near surface sub rock which consist of up to 10m thick quartz veins in carbonaceous and graphitic schists or phyllites. The ore body dips between 50-55 deg to the East in the northern sector. The southern sector dips between 7090 deg East. CAG drilled 3,000m of RC (17 holes) in the vicinity in 2007 and estimated about 300,000 oz oxide gold resources for the Ekom Eya concession. Eight of the holes, each about 180m long, probed the Ekom Eya property.

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Summary of the drilling results is provided in the following table.

BIBIANI NORTH (SHAFT AREA) 2007 END DRILL SUMMARY RC Holes Total Average depth Total metreage Intersecting Holes above 1.0g Total intersection Average grade Strike covered Ore average width 17 172 3,035 12 67m 3.86g/t 1,446.08m 4.79m

Best Holes BNM 22 BNM 21 BNM 20 BNM 19 BNM 18 4.74g/4m phy, 24.26g/8m Qv 10.37g/8m qtz + phy. .98g/6m phy sheared 0.68g/2m 1.4g/6m

Intersections between 2m-8m were encountered and grades ran up to 24g/t. The average ore width was given as 4.79m at an average grade of 3.86g/t. The Ekom Eya send regular samples for assay to certified laboratories & on one occasion, nine channel samples (numbers S 01 S 09) were taken from nine working faces and one grab sample (number S 10) from the tailings. Find below the gold assays as obtained from SGS laboratory in Bibiani.

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Page |7 SAMPLE No. S 01 S 02 S 03 S 04 S 05 S 06 S 07 S 08 S 09 S 10 3.84 43.8 34.8 33.9 12.9 11.3 14.8 48.8 79.0 1.50 50.0 81.3 1.42 ASSAY Au. ppm ASSAY REAPEAT Au. ppm

Straight average of the nine channel samples give 31.92g/t and the tailings grade of 1.50g/t is an indication of grades from the ore body. Additional samplings of the tailings in September 2011 resulted in grades as high as 21.2 g/t. Management is assuming that the tailings will have an average recovery of 5g/t.

Surrounding Area the Bibiani Mine Concession

The Ekom Eya Small Scale Permit is located about 800m north of the northern boundary of the Bibiani mine concession & 3.5 km from the Bibiani plant site, is accessible by road through the Bibiani mine site via the village of Lineso Donkoto and is approximately 7 km to the north of Bibiani Township. The Bibiani Gold Mine and its satellite deposits, including the Ekom Eya Small Scale Permit, are all located within the Sefwi-Bibiani Greenstone Belt in the Western Region of Ghana. This greenstone belt is host to over 17 million ounces of gold, and is the second-most significant gold bearing greenstone belt in Ghana after the Ashanti Greenstone.

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BIBIANI CONCESSIONS ON GEOLOGY BACKGROUND

PHANEROZOIC

GEOLOGICAL LEGEND FOR SOUTH WEST GHANA

Sedimentary cover Intrusives Dolerite Dykes

Ekom Eya

Dolerite and gabbro sills

Gabbro and diorite (possibly of Dixcove Suite affinity)

BIBIANI
Dixcove Suite Granitoids Cape Coast Suite Granitoids Hornblende bearing granite, granodirite, monzonite, porphyry, diorite and aplite

PROTEROZOIC

Biotite and/or muscovite bearing granite, granodiorite, pegmatite and aplite Tarkwaian System

Huni Sandstone

Sandstones, quartzites and grits with phyllites (Dompim Phyllite)

Tarkwa Phyllite

Phyllite and chloritoid phyllite with subsidiary arenaceous beds

Banket Series

Quartzites, grits/ mature quartzose oligomictic conglomerates

Kawere Group

Sandstones, quartzites, grits and immature polymictic conglomerate Birimian System

Upper Birimian

Basic to intermediate metavolcanics, volcaniclastics, greywackes and phyllites

Lower Birimian

Phyllites, schists, tuffs and greywackes

BIBIANI REGIONAL SETTING

Belt to the east. Noble Mineral Resources Limited are the current owners of the Bibiani Mine and satellite deposits. In March of 2010 they announced JORC Compliant resource statement for Bibiani of 32.98 million tonnes at a grade of 1.87 g/t for 1,980,000 ounces. The Ekom Eya property is developed at the northern end of a string of satellite deposits which splayed from the Bibiani main shear. The curvi-linear satellite deposits are from south to north, namely: Walsh, Strauss, Ahiman (Ahemen), Grasshopper and Ekom Eya (part of Bibiani North) at the northern end. Spatially, each deposit is separated by 1.0 - 1.5 km in the north south direction and

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displaced between 0.4 - 0.8km in the east-west direction. The satellite properties may differ in some structural disposition but intrusives such as granites, quartz porphyries and aplites are closely associated with the gold mineralization observed in these satellite deposits.

Ekom Eya Resource Estimation Inputting of all available data on the concession gave indicated gold resources of approximately 1,380,887 tons @ 6.0g/t (266,380 ozs) within the confines of the concession. However strike extensions remain open at both ends and at depth.

Current Operations Mining is currently carried out by the Ekom Eya group by sinking shafts/pits mainly into the first level of the ore zone by manual chiseling and shoveling. Two 250KVA generators are used to provide electricity to two submersible pumps for dewatering the nearby old shaft sunk by the Gold Coast Selection Trust in 1937 to enable mining to take place. Ore from the mine is hauled to a processing centre located in Bibiani Township where it is crushed and milled to powder for treatment. The gold concentrate is extracted by the use of sluices lined with blankets. The resulting concentrate is amalgamated with mercury. The gold is then extracted by heating the amalgam in a retort to recover the mercury. The gold is refined primarily by grinding it into powder and treating with concentrated sulphuric acid or hydrochloric acid to dissolve the ferrous gangue minerals. The gold is further

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refined before it is sold. The mining and treatment methods adopted by Ekom Eya are highly inadequate as they use selective mining methods and work only high grade ore. In this regard grades in the range of 4 g/t are left untouched. The gold extraction method also leads to substantial losses highlighted by the fact that the tailings are sold to other groups for further treatment. Recent samples taken of what the Ekom Eya consider as waste yielded grades up to 9.76g/t.

KAT Gold Operational Approach KAT Golds initial focus will be to process the tailings and waste dump of previous operations. This will provide cash flow and further capitalization to plan and implement the workings on the balance of the property. With the equipment outlined, the tailings can be processed at a rate of 500 tonnes per day. The waste dump can be processed at an estimated 350 tons per day. Tailings Assumptions Average grams per Ton Tons Processed per month Grams Recovered 4.00 12,000 48,000

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Ounces Recovered Per Month Operating Costs per Ounce up to Royalty (15%)

1,500 $250 $240

It would take approximately 150 working days of operation to process all of the tailings. Tailing processing projected revenue is $100,000 per day (assuming $1,600/oz), with an expected gross profit of $10.4 million over the duration representing approximately 7,700 oz recovered.

Projected Tailings Scenario: Daily Revenue Operating Costs 15% Royalty Gross Profit $102,000 $16,000 $15,000 $71,000 Duration (over 150 working days) $12,347,000 $1,929,000 $1,852,000 $8,566,000

It would take approximately 85 working days of operation to process the entire waste dump. Waste Dump Projected Revenue is $70,000 per day (assuming $1,600/oz), with an expected gross profit of $3.8 million over the duration. Projected processing volumes of the waste dump is slower than that of the tailings as the rock will also have to be crushed. Waste Dump Assumptions Average grams per Ton Tons Processed per month Grams Recovered Ounces Recovered Per Month Operating Costs per Ounce up to Royalty (15%) 4.50 8,400 37,800 1,215 $300 $240

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Projected Waste Dump Scenario: Daily Revenue Operating Costs 15% Royalty Gross Profit $81,000 $15,000 $12,000 $54,000 Duration (over 85 working days) $6,945,000 $1,302,000 $1.041,000 $4,602,000

The balance of the resource estimate of 1,380,887 tons @ 6.0g/t represents a potential 266,380 ozs. This can best be accessed by an open pit operation. Thereafter, underground development and mining could be undertaken to access the deeper unexplored ore body. Favourable topography and the virtual absence of overburden over much of the permit is a key benefit in assessing the approach to the workings as well as minimising extraction costs. The national electricity grid has been extended to the site quite recently and the proximity of the site to Bibiani township (about 7km), a district capital with good infrastructure and social amenities, are all additional advantages for a future mine site.

Financial projections are based assuming a processing rate of 600 tons per day: Assumptions Average grams per Ton Tons Processed per month Grams Recovered Ounces Recovered Per Month Operating Costs per Ounce up to Royalty (15%) 6.00 14,400 86,400 2,778 $450 $240

Revenue figures assume that the average sale price of gold is $1,600 & that there is a 15% royalty to the concession owners. Year 1 assumes that there are 3 months of setting up the operation and 9 months of production. Forecasted annual production on the main deposit is estimated to be 33,000 ounces. Production on the main deposit is assumed to double in month 16 with additional equipment purchases.
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Financial Projections Year 1 Revenue Royalty (15%) Cost of Goods Gross Profit $45,957,563 $9,191,513 $9,151,250 $27,614,801 Year 2 $93,334,903 $18,666,981 $22,417,500 $52,250,422 Year 3 $106,668,461 $21,333,692 $25,440,000 $59,894,769

Operational Rollout
This budget would allow KAT Gold to go into production on the tailings & waste dump as well as locate & purchase good equipment to be used for processing the main ore body at launch. There is an expected 6 month wait time between placing the order of the In-line leach reactor (made by Gekko in Australia) and receiving the equipment. In the interim, KAT Gold will use a CIL reactor and additional equipment (sourced in Africa) to work the tailings & waste dump. Processing of the Tailings & waste pile will occur within 3 months of raising capital and then shifted to the main ore body as further equipment arrives & is set up. The mining equipment to be acquired:
Equipment Heavy Equipment 2 Caterpillar 330DL Excavators @ $465,000 each. 1 D8T Crawler Bulldozer 1 980H Wheel Loader 1 963 Crawler Loader Miscellaneous Heavy Equipment Crushing and Grinding Equipment 1 SBM 100-120 Mobile Crushing and Screening Plant 1 SBM Hammer Mill 3 X 50' Conveyors Miscellaneous Crushing and Grinding Equipment Gravity Recovery Equipment 1 Goldfield Engineering 'Alaskan' 100yph Gold recovery system 3 Holman/Wilfly 16' Mineral Tables Miscellaneous Recovery Equipment Vehicles 2 Volvo 6X6 Ore trucks 3 Nissan 'Hardbody' Pick-ups 1 General Duty Service Truck Generators Budget $930,000 $695,000 $475,000 $225,000 $125,000 $418,000 $248,000 $180,000 $140,000 $240,000 $114,000 $135,000 $300,000 $90,000 $72,000

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P a g e | 14 1X100kva Perkins Diesel. 1X 50kva Perkins Diesel Miscellaneous small generators Pumps 2X 8"X6" Diesel Pumps Miscellaneous small pumps Miscellaneous Hoses and Fittings Man Camp 1X 20 Man Camp, Complete Total Equipment Budget $35,000 $28,000 $15,000 $60,000 $22,000 $8,000 $125,000 $4,680,000

Ghana Overview
The Republic of Ghana hosts one of the worlds largest gold operations in Obuasi, near Accra, and is Africas second-largest producer and exporter of gold after South Africa. The nations mining industry is dominated by foreign players and its mining portfolio also consists of diamonds, manganese and bauxite. The basic law governing the mining industry is the Minerals and Mining Act 2006 (Act 703) which grants the president the power to grant mining rights. According to data from the Ghana Chamber of Mines, Ghana's gold output increased by 4% to 2.6 million ounces in 2008. Gold accounts for approximately 90% of Ghana's income from minerals. The value of the mining industry is expected to increase from US$1.03bn in 2008 to US$3.14bn in 2013.1 The Ghanaian mining industry has a promising future based largely on its untapped mining potential and stable government along with a reasonable tax regime. In its newly released Ghana Mining Report Q108, BMI forecasts the mining industry to register an average growth of over 4% per annum over the 2008-2012 period.2 Ghana became
1

in 1957 the first

The Statesman website, Ghana Mining Report, Adu Koranteng,

2

Executive Summary, Ghana Mining Report 2009, Business Monitor

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sub-Saharan country in colonial Africa to gain its independence. It has a population of approximately 24 million people, an unemployment rate of approximately 11% (2000 estimate) and is a constitutional democracy. Well endowed with natural resources, Ghana has roughly twice the per capita output of the poorest countries in West Africa. 3 The Republic of Ghana is located on the coast of West Africa (Southern portion), and has been well known for its gold deposits as early as the 15 th century. The tradition of gold mining has continued today, with a large number of mines operating in the countrys famous gold belts. Relative to its other African neighbour countries, Ghana is a stable country with a strong democracy. Ghana is ranked quite highly in international freedom and prosperity indices. Organization Heritage Foundation/WSJ Reporters Without Borders Transparency International Survey Index of Economic Freedom Worldwide Press Freedom Index Corruption Perception Index Ranking 91/157 31/173 69/179 135/177 40/121

United Nations Development Programme Human Development Index Vision of Humanity Global Competitiveness Report

Ghana is an English-speaking constitutional democracy that has enjoyed peace and stability since its Constitution was passed in 1992. It is dedicated to a multi-party democracy and is considered one of the most stable governments on the continent. This has contributed to GDP growth (5.5% real growth in 2007), improved Foreign Direct Investment (according to the IMF, Foreign Investment grew from US$155M in 2000 to US$450M in 2006), and improved poverty rates (fallen from 52% in 1992 to 28% in 2006). Given their history of gold production (Ghana was at one time known as the Gold Coast) the government is accustomed to dealing with resource companies and has created a mining-friendly environment. The country boasts a readily-available work force with experienced miners and a tropical climate that provides favourable year-round mining conditions. As a testament to the favourable work environment, Ghana is host to many of the major gold producers including Newmont and Goldfields and Mid-tiers such as Redback.

CIA World Factbook

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Management Team
Ken Stead, President and CEO Mr. Stead is a co-founder of KAT Gold Holdings Corp, and has been president since the company's incorporation. Mr. Stead worked directly in the mining industry from the early to late 70's, where he first started with the Iron Ore Company Of Canada and worked for Noranda at their Nanasivik mine in Stratacona Sound, northern Baffin Island. In the early 80's, Mr. Stead worked in the oil fields of Alberta, afterwards returning to Newfoundland where he set up his own construction company from 1985 to 1995. In 1997, Mr Stead became a co-founder of Cornerstone Resources Inc., a junior mining company now trading on the TSX-V (CGP) until he resigned in 2004. Over the past 15 years Mr. Stead has been actively working in a Sedimentary-Hosted Stratiform Copper environment along with precious metal such as Gold and Silver.

Thomas Brookes Managing Director African Operations Thomas Brookes has been involved in the exploration and extraction of natural resources for more than thirty years. Past experience ranges from drilling for oil and natural gas in the Canadian High Arctic to many years prospecting for gold in Northwest British Columbia and the Yukon territory as the President of Virgin Gold Inc. Thomas is working closely with his contacts in Ghana to develop the company into an active participant in the mining industry.

Timothy R. Stead, VP of Field Operations - Canada Timothy R. Stead is a co-founder of KAT Gold Holdings Corp, and has been VP of Field Operations since the company's incorporation. Mr. Stead completed a prospector's training course in 2000, where he was then working in the field for Cornerstone Resources Inc. He has many years of experience and knowledge working with SedimentHosted Copper on the eastern portion of the province of Newfoundland. Mr. Stead has also acquired much experience and knowledge of massive sulphide deposits as well as gold, and at present is overseeing a work program on one of the companys most exciting gold properties.

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Matthew Sullivan - Chief Financial Officer Matthew Sullivan has worked with a wide variety of well-established ventures and early stage companies in strategic and business operations. Matthews background is in venture capital and business analysis and he is also the Chief Operating Officer of Asana International, a global consumer health products company and CFO of Capys Inc., a holding company that owns master franchise rights to a signage company in Canada and Australia with 85 locations. Matthew holds a Bachelor of Arts degree from the University of British Columbia and an MBA from Dalhousie University. He has lived abroad in Europe, India, the Middle East and Asia.

Advisors
Paul Abbott Paul holds a MSc in Mineral Exploration from Rhodes University and is a member of the Geological Society of South Africa. Paul Abbott is a geologist with 35 years of international exploration and mining geology, engineering geology and hydrogeology experience covering a broad range of geological terrains and minerals. Metallic minerals include gold, platinum, copper, nickel, lead and zinc, while non-metallic minerals include diamonds, emeralds, asbestos and coal. He holds undergraduate and post-graduate degrees in geology. Paul has a proven record of success in discovering and defining ore reserves and resources. Geological modeling of regional structures in West Africa has led to the discovery of sub-parallel shear zones in lithologies previously regarded as barren, resulting in the significant expansion of new exploration target areas. Paul is familiar with new as well as conventional exploration techniques, with skills in the selection and application of the appropriate technologies and equipment to design and implement cost-effective exploration and exploitation programs.

Randy Clarkson Randy Clarkson a registered Professional Mining Engineer specializing in the recovery of alluvial Gold deposits and has agreed to act as the company's consulting mining engineer. He will design and commission KAT Gold's gold recovery plants and will also play a key role in conducting due diligence and administer site testing of deposits as the company grows and further opportunities present themselves. Randy Clarkson will be designing KAT Golds initial mining plant. He has over 20 years of diversified experience in mining engineering at several locations in western Canada and internationally. He has been involved in many phases of the industry from a deep hole placer drilling and sampling program to supervision of the Yukon

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Placer Materials Handling and Waste Water Treatment program. He is currently president of New Era Engineering Corp., a consulting firm specializing in alluvial gold mining and small scale hydroelectric development. Randy specializes in the recovery of alluvial gold and the design of related equipment. He is very familiar with the type of mining proposed by KAT Gold and will be visiting Ghana on a regular basis.

Johnson Manu Dr. Manu is a graduate of Geology from the University of Ghana and holds a Masters and Ph.D. degree in Mineralogy/Economic Geology from Technical University of Braunschweig, Germany. Dr. Manu completed a MBA Finance at the University of Ghana and is a senior lecturer in the Department of Geology at the University of Ghana. He is the author of various publications on the geology of Ghanas Birimian Gold Belt and his research and studies are widely referenced. While teaching, supervising and evaluating final year student projects, he is also an external examiner for Masters and Ph.D. student theses and reviewer for the Ghana Mining Journal and Journal of the University of Science and Technology. He has been involved in the preparation of technical reports for the UNDP regarding the exploration of gold, diamond and industrial mineral development in Ghana. His research includes determination of physical/chemical factors for the formation of Birimian gold in Ghana and he has consulted in the development of gold exploration activities for many Ghanaian companies and entrepreneurs. Dr. Manu is providing hands-on expertise and project consulting services to Tres-Or in pursuit of assets in Ghana. Dr. Manu is committed in involving Ghanaian nationals in the development of mineral resources and is providing education, a model framework for small scale miners and organizing the necessary aide and assistance for the peoples of Ghana. Dr. Manu was born in Ghana and is fluent in both English and German. He is a member of the Ghana Institute of Geoscientists and Ghana Science Association.

Local Community
Just after a meeting, the local Chief and village elders agreed to be photographed with Thomas Brookes, (standing in the background). It is of great importance to include the local

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community in all aspects of the mining operation and to employ as many locals as possible. Although out of necessity the more skilled positions will be filled by expatriate personnel until such times that these essential skills can be passed along to members of the local community.

Use of Funds KAT Gold is seeking $7.3 million in order to launch operations in Ghana. The majority of the budget is to establish operations on the Ekom Eya property. KAT Gold may use some of the operating capital to secure additional mining opportunities.
Equipment Heavy Equipment 2 Caterpillar 330DL Excavators @ $465,000 each. 1 D8T Crawler Bulldozer 1 980H Wheel Loader 1 963 Crawler Loader Miscellaneous Heavy Equipment Crushing and Grinding Equipment 1 SBM 100-120 Mobile Crushing and Screening Plant 1 SBM Hammer Mill 3 X 50' Conveyors Miscellaneous Crushing and Grinding Equipment Gravity Recovery Equipment 1 Goldfield Engineering 'Alaskan' 100yph Gold recovery system 3 Holman/Wilfly 16' Mineral Tables Miscellaneous Recovery Equipment Vehicles 2 Volvo 6X6 Ore trucks 3 Nissan 'Hardbody' Pick-ups 1 General Duty Service Truck Generators 1X100kva Perkins Diesel. 1X 50kva Perkins Diesel Miscellaneous small generators Pumps 2X 8"X6" Diesel Pumps Miscellaneous small pumps Miscellaneous Hoses and Fittings Man Camp 1X 20 Man Camp, Complete. Cost of Financing Brokerage Fees, Financing Costs, Legal, Accounting etc, Budget $930,000 $695,000 $475,000 $225,000 $125,000 $418,000 $248,000 $180,000 $140,000 $240,000 $114,000 $135,000 $300,000 $90,000 $72,000 $35,000 $28,000 $15,000 $60,000 $22,000 $8,000 $125,000 $1,100,000

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P a g e | 20 Operating Expenses Initial Set-up, Fees, Licenses, Salaries, Fuel etc, Hotels, Airfares, On Ground Travel, Local Accommodation, Insurance Shipment of equipment by Ocean, and by road in Europe/UK/Shanghai Contingencies Total

$480,000 $68,000 $46,000 $280,000 $646,000 $7,300,000

Bibiani North Drilling Summary 2007

BH Collar Information Azim ID East North (Mag) Dip R/C From To Length g/t Lithology Sheared Phyllite Sheared Phyllite Sheared Phyllite Depth (m) Intersection Geology %Qtz total

BH18

10,834.

9,837.31

269

-50

201

173.0

179.0

6.00

1.40

BH 19

10,788.

9,902.84

269

-50

201

163.0

165.0

2.00

0.68

BH 20 BH 09 BH 12

10,742. 10,611. 11,155.

9,968.37 9,876.60 9,378.58

269 269 269

-50 -50 -50

201 40 200

159.0

165.0

6.00 0.00 0.00

0.98

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P a g e | 21 BH 11 BH 10 11,201. 11,136. 9,313.05 9,267.16 269 269 -50 -50 201 174 0.00 0.00

BH 01 BH 23a BH 22a

9,282.2 11,167. 11,178.

8,627.92 9,968.00 9,808.39

322 274 325

-50 -50 -50

151 101 150

151.0 174.0 172.0

157.0 176.0 176.0

6.00 2.00 4.00

3.90 0.75 25.4

Phyllite/Qtz

30

Phyllite/Qtz Qtz vein /Phyllite

BH 21a

11,121.

9,659.02

325

-50

150

164.0

172.0

8.0

22.0

BH 14 BH 13

11,018. 11,064.

9,575.18 9,509.65

269 269

-50 -50

201 201

163.0

165.0

2.00 0.00

2.46

Phyllite/Dyke

20

BH 15

10,972.

9,640.71

269

-50

201

159.0

171.0

12.00

1.69

Sheared Phyllite/Qtz Sheared Phyllite/Qtz

40

BH 16

10,926.

9,640.71

269

-50

198

157.0

160.0

3.00

1.09

BH 17

10,880.

9,771.77

269

-50

198

170.0

172.0

2.00

0.50

Phyllite/Dyke Sheared Phyllite/Qtz Sheared Phyllite/Qtz Graphitic Phyllite

BH 23

10,649.

10,123.7

270

-50

198

148.0

150.0

2.00

0.60

10

174.0

176.0

2.00

0.75

BH 22

10,682.

10,074.0

270

-50

198

152.0

156.0

4.00

4.74

168.0

176.0

8.00

24.2

Qtz vein

70

BH 21

10,716.

10,024.2

270

-50

198

164.00

172.00

8.00

10.3

Phyllite/Qtz

10

BH 24

9,282.2

8,657.92

270

-50

178

168.00

172.00

4.00

0.60

Porphyry/Qtz

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20

3,441

Bibiani North Boreholes Summary The drill hole plan view with intersections clearly shows the gold mineralized trend is in a north-south direction along almost the entire 600 metre length of the permit.

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Plan View of Boreholes & Intersections

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Mine Profile

Waste Dump Grab Samples September 2011

In September 2011, a third party collected 5 informal grab bag samples from the waste dump and 3 from the tailings and had them tested by a laboratory in Canada. The following results were received: Property Ekom Eya Ekom Eya Ekom Eya Ekom Eya Ekom Eya Ekom Eya Ekom Eya
Ekom Eya

Sample # 116401 116402 116403 116404 116405

Location Details via GJM #67-70 Area. GJM #4 #67-70 Area. GJM #5 #68. GJM #1 #69. GJM #2 #70. GJM #3

Description via GJM Rock. Mafic volcanic with quartz Rock. Mafic volcanic with quartz Rock. Mafic volcanic with quartz Black Rock. (disintegrated) Rock. Mafic volcanic with quartz Tailings, Recent Tailings, Old
Tailings

Au g/tonne 9.76 4.8 <0.005 1.555 0.518 1.55 3.66

21.2

116406 #71. GJM #6. 116407 #72. GJM #7

116408 Nothing marked on sample bag.

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Handcamp Property
The Handcamp prospect, located on the Handcamp Property, is a structurally modified volcanogenic massive sulphide deposit in the northern extension of the group of rocks that hosted the Buchans deposits. It is also in the same group of rocks that hosted the past producing Gullbridge Mine about 11 km to the south-southwest of Handcamp. Between 1967 and 1972, about 3 million tonnes of 1.1% copper were produced from Gullbridge. Remaining historic reserves there amount to 1.6 million tonnes grading 1.04% copper. The company is very encouraged by recent results from drilling on the Handcamp property. As reported in a news release on August 25, 2010, encouraging gold mineralization accompanied by elevated zinc and lead was intersected at shallow depth. Diamond drill hole DDH 004 intersected 6.3 g/t (0.18 oz./ton) gold and 111.6 g/t (3.3 oz./ton) silver over 1.9 m (1.4 m estimated true width) including 10.8 g/t (0.32 oz./ton) gold and 222.4 g/t (6.5 oz./ton) silver over 0.9 m (0.7 m estimated true width) within a wider interval grading 3.1 g/t gold and 42.6 g/t silver over 5.9 m (4.4 m estimated true width) Diamond drill hole DDH 012 intersected 5.5 g/t (0.16 oz./ton) gold over 1.8 m (1.4 m estimated true width) within a wider interval grading 3.5 g/t gold (0.10 oz./ton) over 3.5m (2.6m estimated true width). Both intersections occur within an even broader mineralized zone defined by elevated gold that includes 1.2 g/t gold over 20.9 m (15.6m estimated true width) in DDH 004 and 1.0 g/t gold over 17.8 m (13.3 m estimated true width). The induced polarization geophysical method is very effective at identifying the zone of mineralization at Handcamp. Only a portion of the Handcamp mineralized trend as outlined by the geophysics has been drill tested and there are other geophysical anomalies subparallel to the known Handcamp trend that have not been drill tested. Portions of these anomalies have associated gold-in-soil anomalies thereby making them additional prime targets for future drilling. The company has established a more extensive grid of 73km of line cutting in the area on which additional IP geophysical and soil geochemical surveys will be conducted to further delineate anomalies identified previously as well as potentially identify new ones.

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Geology
The property occurs in the Lower Ordovician Roberts Arm Group (the Group) a steeply dipping west to northwest facing sequence of dominantly submarine volcanic and volcanogenic sedimentary rocks that are the products of island-arc volcanism (Figure 2). The Group is disconformably overlain by the Springdale Group (subaerial sediments) and intruded by Devonian granitic rocks. It is continuous with to the south and stratigraphically equivalent to the Buchans Group, host to the past-producing Buchans Deposits.

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Rocks exposed near Handcamp are dominated by dark greenish-grey to reddish-brown and black pillow basalt, pillow breccia, tuffs and massive flows accompanied by lesser felsic volcanic rocks and locally interbeds of chert and argillite. Altered and mineralized rocks occur along a strata-parallel zone (the mineralized zone) 1.2 km long and approximately 50 m wide, which contains grey to black argillite, grey to green chert and cherty sediment. The zone had been traced to 50 m depth during historic drilling completed by US Borax Ltd and Falconbridge Ltd. Rocks in the Handcamp area are deformed as exhibited by a regional penetrative planar fabric that varies from a strong foliation through to a local schistosity in the mineralized zone. Rocks trend roughly east-northeast at an azimuth of 20. The chlorite-rich mafic tuffaceous sedimentary rocks that occur in the mineralized zone are soft relative to adjacent rocks and have typically accommodated greater strain. Mineralization at Handcamp consists of pyrite and sphalerite with minor galena and chalcopyrite, minerals which are associated with elevated concentrations of gold, silver, lead and zinc. The potentially economic gold- and silver-bearing sulphide mineralization at Handcamp occurs in patches, lenses, veinlets and disseminations hosted by a 30 to 50m thick sequence of altered argillite, red and white chert and altered felsic and chloritized, silicified mafic tuff. The stratabound nature of the deposit had been cited as evidence that mineralization was contemporaneous with deposition based on features consistent with the

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presence of a volcanogenic massive sulphide (VMS) deposit (de Ferriere, 1978; Fryer, 1980). Gold and silver mineralization in the deposit could be related to the primary base metal VMS mineralization or secondary fluid processes associated with the deformation of the original VMS mineralization. The presence of high concentrations of the base metals, lead and zinc, in addition to gold and silver would tend to support a VMS origin for the mineralization at Handcamp. It is postulated that the deposit represents a structurally modified volcanogenic massive sulphide deposit.

Previous Exploration
Despite its potential, the Handcamp Property area has had a sporadic history of exploration and development. Historical highlights are listed as follows: 1928: the original Handcamp prospect was discovered by the Central Mineral Belt Syndicate. 1930: trenching revealed mineralization that returned values of up to 3.78 % lead, 1.9% zinc, and 0.62% copper. Near one ounce gold values reported in dollars included $26.80 (1.072 oz/ton gold equivalent) with a silver value of 5.1 oz, and $23.50 (a 0.94 oz/ton gold equivalent) with a silver value of 13 oz/ton based on an estimated gold price of $25 per ounce at that time (Corlett, 1930). 1941: 6 drill holes were completed by the Government of Newfoundland "close to the Handcamp showing" (Degrace et al., 1976). A gold value from the drilling was reported at 0.39 oz/t. The holes were located east of the structure and drilled from east to west, an orientation that may have missed much of the mineralization. 1956: Orenada Mines Ltd completed 14 short holes averaging 150 m per hole for a total of 2100 m. Reported values included 0.16 oz/t gold with 2.98 oz/t silver over 2.5 m, and 0.11 oz/t gold with 0.71 oz/t silver over 5 m. (Patterson, 1956). 1960: British Newfoundland Exploration (Brinex) located a magnetic anomaly on the property that was never subsequently investigated (Mannard, 1960). 1962: an evaluation of Handcamp by Newfoundland Exploration Company Ltd stated The Handcamp is a property possessing considerable merit ... It has a favorable location in regard to lithology, stratigraphy, and geologic structure. Mineable copper lead-zinc deposits have been developed on strike both to the southwest and northeast, and presumably at about the same stratigraphic horizon. Moreover, a zone of mineralization does occur in the original showings although the earlier work did not reveal deposits of economic value within the relatively small area explored by drilling in 1948 and 1956 (Bayne, 1962). 1972: magnetometer and electromagnetic surveys completed by Emrex Mining Ltd. revealed the presence of geophysical anomalies confirmed during an airborne survey in 1973 completed by Texas Gulf Inc. (Lea and Nielson, 1972, Mann, 1973).

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1976: Miller commented on previous geophysical surveys stating "the most significant geophysical response is exhibited on the ground magnetic survey conducted by Texasgulf. When this is combined with their soil geochemical analysis and the Radem results, a clear picture emerges of the mineralization along the shear zone in which the initial Handcamp discovery was made 1977 1979: Geochemistry and geophysics completed by Falconbridge Ltd revealed the presence of a northeast trending anomaly. Trenching along the anomaly identified a mineralized zone. Samples from the trenches returned assays as high as 587 g/ton silver and 74 g/ton gold (Hudson and Swinden, 1989). Subsequent drilling by Falconbridge intersected mineralization over a strike length of 1200 m with widths that varied from 9 to 49 m. Hole 16-022-1 returned a gold value of 0.076 oz/t (2.2 g/ton) over 0.3 m. When combined with an adjacent sample that returned a value of 0.056 oz/t (1.8 g/ton) gold over 1.5 m the values average to 2.0 g/ton over a combined width of 1.8 m. 1982: Drilling by US Borax Ltd and Pacific Coast Mines Inc returned gold values of 1.93 g/ton over 2.3 m and 2.2 g /ton over 1.7 m in hole HZ-83-1. An IP survey by the company delineated a number of anomalies. 2004: Prospectors Mercer and Lannon of Central Newfoundland held claims in the area. Of 66 rock samples collected 20 returned values exceeding 1000 ppb gold (1 g gold). Highlights include gold values of 138182 ppb (138.1 g/ton), 82813 ppb (82.8 g/ton) and 27013 ppb (27.0 g/ton) gold.

Visible gold has been noted at Handcamp. De Ferriere (1978) identified it in crosscutting veinlets containing pyrite, sphalerite, galena and rare chalcopyrite. In 2009, Cyril Reid, a local prospector, panned gold from till near the Main Handcamp Prospect.

Current Exploration
Current exploration completed by Kat Gold Holdings Corp during 2010 included two induced polarization (IP) geophysical surveys, trenching and diamond drilling, the latter focusing on the northeast trending structure that includes the Main Handcamp Prospect. During previous exploration Kat had established a 2 km by 2 km exploration grid centered on the Handcamp Prospect. The grid consisted of 2 km east west trending lines spaced at 100 m intervals and picketed at 25 m for a total of approximately 40 km of grid line. A total of 1303 soils were collected. Chemical analyses revealed elevated gold concentrations in the soils, which are developed from glacial till, 73 samples had concentrations greater than 20 ppb gold. Of the 73, 23 had gold concentrations greater than 50 ppb gold, 7 had gold concentrations greater than 100 ppb gold.

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Normal background gold values are 5 10 ppb gold with 10 ppb considered anomalous and worthy of further investigation. Plotted results from the soil survey revealed a number of gold, copper and zinc anomalies related to the Main Handcamp structure as well an area on the west side of the grid along a chain of small ponds. A total of 150 rock samples analyzed for gold and base metals returned values as high as 158 g/ton gold, 94 g/ton gold, and 82 g/ton gold. KAT had also collected grab and chip rock samples in the area of the Main Handcamp gold Prospect. Grabs returned gold values of 31383 ppb (31.4 g/ton), 18627 ppb (18.6 g/ton), 15720 ppb (15.7 g/ton), 3018 ppb (3.9 g/ton), 2818 ppb (2.8 g/ton), and 1397 ppb (1.4 g/ton). Two samples further south (>100 m) representing the extension of this mineralization returned values of 12133 ppb gold (12.1 g/ton gold) and 3922 ppb (3.9 g/ton) gold. Chip sampling across mineralization on the Main Handcamp Prospect averaged 7.359 g/ton gold over 8.5 m. Induced Polarization Geophysics As part of the current exploration program in 2010, Induced Polarization geophysical surveys including 20 km of dipole-dipole and 5 km of pole-dipole were completed to trace alteration and mineralization to the northeast and southwest of the Main Handcamp Prospect (Figure 3). First derivative plots from a previous high resolution airborne magnetic survey completed by the Geological Survey of Canada (GSC) in 2008 had already revealed the presence of northeasttrending magnetic structures. One coincided with the location of the Main Handcamp Prospect.

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Figure 1: Handcamp IP anomalies and outline of gold-in-soil anomalies

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IP results by Abitibi Geophysics Ltd. successfully traced the magnetic structure a distance of 600 m. The anomaly was later extended by DFR Geophysics Ltd. an additional 600m for a total of 1200 m. At least two other IP chargeability anomalies were identified during the surveys. A northeast trending shadow anomaly 500 m to the east and another irregular IP chargeability high that coincided with elevated gold and copper concentrations in soil samples near the chain of small lakes on the west side of the grid. On the southern portion of the surveyed area, the suspected Handcamp mineralized zone appears to bifurcate or split into two structures. Trenching Trenches were completed on IP targets along the suspected Handcamp mineralized zone to verify the presence of mineralization. The trenches locally exposed mineralization that contained elevated gold, silver lead and zinc concentrations along a length of approximately 600 m with widths of up to 20 m. Trench 5 completed to test the weaker northeast trending chargeability anomaly defined by Abitibi 500 m west of the Handcamp anomaly resulted in the discovery of low concentrations of disseminated sulphide mineralization. Exploration pits excavated in the quest for mineralization related to soil anomalies on the west side of the grid failed to reach bedrock. The best gold (Au) and silver (Ag) values obtained in Trenches 1 and 2 are summarized in the following table. Gold and Silver assay results from Handcamp trenches trench #1 trench #1 trench #1 trench #2 Samples 20105-06 20121-23 20127-30 20192-94 Au g/ton 1.54 2.63 1.39 0.15 Ag g/ton 19.23 21.44 17.62 6.63 Width 2.6 m 3.7 m 5.5 m 2.5 m

Diamond Drilling A total of 1640 m of diamond drilling in 12 drill holes was completed as part of the 2010 exploration program on the Handcamp property. Eleven of the holes were located in three fences spaced at approximately 250 to 300m intervals, the central fence located near the Main Handcamp Prospect. The 12 th hole was located about 600m south of the main Handcamp prospect drilled to test the southern extension the IP anomaly. It is also near a location where a grab sample of angular float had returned a value reported at 13 g/ton gold collected near some old workings (a shaft), which had been discovered during the excavation of one of the trenches. All of the drill holes successfully intersected alteration and mineralization associated with the Main Handcamp structure referred to by Falconbridge as the mineralized zone. Estimated
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true widths of the mineralized zone intersected varied from 15 to 50 m. The structure was tested to a vertical depth of 185 m, or approximately 135 m below intersections completed during previous drilling by US Borax and Falconbridge along the Handcamp structure. Anomalous values of gold, silver, lead and zinc were intersected in all of the holes. The results were described as very encouraging mineralization at shallow depth in a press release on August 25, 2010. Mentioned among the highlights in the release, Diamond drill hole DDH 004 intersected 6.3 g/t (0.18 oz./ton) gold and 111.6 g/t (3.3 oz./ton) silver over 1.9 m (1.4 m estimated true width) including 10.8 g/t (0.32 oz./ton) gold and 222.4 g/t (6.5 oz./ton) silver over 0.9 m (0.7 m estimated true width) within a wider interval grading 3.1 g/t gold and 42.6 g/t silver over 5.9 m (4.4 m estimated true width) Diamond drill hole DDH 012 intersected 5.5 g/t (0.16 oz./ton) gold over 1.8 m (1.4 m estimated true width) within a wider interval grading 3.5 g/t gold (0.10 oz./ton) over 3.5m (2.6m estimated true width). Both intersections occur within an even broader mineralized zone defined by elevated gold that includes 1.2 g/t gold over 20.9 m (15.6m estimated true width) in DDH 004 and 1.0 g/t gold over 17.8 m (13.3 m estimated true width). The table of intersections included in the press release is included in Table below.

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Phase 1 Handcamp diamond drilling results

Hole # DDH-004 including including including DDH-012 including including including including DDH-002 including including DDH-003 including including DDH-005 including DDH-001 including DDH-006 including DDH-007 including DDH-008 including DDH-009 DDH-010 DDH-011 including From (m) 29.10 29.10 29.10 29.10 27.50 36.00 36.00 36.80 37.80 93.00 93.00 95.00 36.80 36.80 36.80 39.00 39.40 67.00 74.00 116.00 116.00 196.00 196.00 40.00 48.00 49.80 61.50 69.00 91.20 159.40 166.80 169.60 To (m) 50.00 35.00 31.00 30.00 45.30 42.30 39.50 38.60 38.60 101.00 96.00 96.00 46.00 41.00 37.50 61.00 42.40 77.00 77.00 125.00 120.00 202.00 198.00 41.00 50.60 50.60 63.30 70.50 93.20 160.10 170.20 170.20 Length (m) 20.90 5.90 1.90 0.90 17.80 6.30 3.50 1.80 0.80 8.00 3.00 1.00 9.20 4.20 0.70 22.00 3.00 10.00 3.00 9.00 4.00 6.00 2.00 1.00 2.60 0.80 1.80 1.50 2.00 0.70 3.40 0.60 Au (ppb) Ag (g/t) 1204 15.1 3148 42.6 6282 111.6 10813 222.4 1028 2210 3480 5486 8523 1031 2114 4486 817 1036 4579 1162 2057 310 466 506 806 222 430 500 644 1120 431 1138 619 676 453 1974 6.3 10.6 16.8 23.6 36.8 18.4 31.1 75.9 20.2 30.7 134.2 10.0 29.9 4.9 9.1 6.3 11.7 5.0 8.0 1.2 17.2 35.3 3.1 47.4 13.1 1.8 7.5 32.2 Zn (%) 0.22% 0.51% 0.59% 0.60% 0.51% 0.83% 1.34% 1.44% 1.35% 0.23% 0.17% 0.10% 0.30% 0.39% 0.80% 0.27% 0.49% 0.19% 0.41% 0.47% 0.87% 0.67% 0.42% 0.62% 0.35% 0.32% 0.27% 0.92% 0.08% 0.15% 0.29% 0.53% Pb (%) 0.13% 0.36% 0.43% 0.56% 0.28% 0.36% 0.63% 0.91% 0.78% 0.28% 0.18% 0.21% 0.27% 0.41% 1.09% 0.14% 0.14% 0.11% 0.22% 0.26% 0.56% 0.13% 0.04% 0.13% 0.33% 0.67% 0.15% 0.36% 0.07% 0.01% 0.12% 0.25% Cu (%) 0.02% 0.04% 0.05% 0.07% 0.02% 0.03% 0.05% 0.05% 0.06% 0.08% 0.12% 0.12% 0.10% 0.09% 0.24% 0.03% 0.06% 0.05% 0.13% 0.06% 0.12% 0.03% 0.02% 0.14% 0.12% 0.31% 0.04% 0.15% 0.03% 0.04% 0.06% 0.13%

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Recommendations
Based on the very encouraging results received during Phase 1 exploration on the Handcamp property, it is clear that further exploration is warranted. Phase 2 The objectives of the next phase of exploration are: to test for further extension of mineralization related to the Handcamp mineralized zone; to drill test other targets already identified in the area; and potentially identify new ones as a result of geophysical, geological and geochemical surveys to be carried out on extensions of the existing grid. As part of Phase 2 a program has already been planned that will include line-cutting, soil sampling, geological mapping, prospecting, IP surveys and diamond drilling (Figure 4). Line cutting will focus on the extension of the grid to the north south and west to further test targets. The orientation of the grid will be changed from the previous in order to better follow the trend of the mineralized zone and thereby facilitate further drill testing. Soil sampling is to be completed on the extended grid in an effort to locate exploration targets for follow-up exploration. An IP survey will be completed as a priority along with follow-up prospecting and geological mapping on targets identified by the geophysical and geochemical surveys. Further trenching may be required in local areas to facilitate mapping. An enhanced drilling program (3000 m) is also planned that will include testing mineralization to the south where it appears to improve, as well as other targets identified from results of the geophysical and geochemical surveys already completed. It will also include holes to the north and west contingent on additional targets that may be identified by the induced polarization and soil geochemical surveys. Additional Exploration Phases Further exploration beyond Phase 2 is contingent upon positive results from that phase. If warranted, a multi-phase exploration program will be carried out with the initiation of each new phase contingent on positive results from the previous phase. Continued positive results from the multi-phase exploration program would lead ultimately to a third party pre-feasibility study and production decision.

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Handcamp grid expansion

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Quality Assurance/Quality Control All of the work completed during the exploration by KAT during 2010 was supervised by a professionally qualified on-site geologist unless stated otherwise. The geologist was present during all of the trenching and related interval chip and channel sampling. The drill core was logged in a secure facility in South Brook. All samples were submitted to Eastern Analytical Ltd where they were analyzed by Fire Assay for gold and for various other elements by 11 and 30 element ICP. Every 20th sample pulp (30 samples) and a suite of 10 samples that returned high gold analysis were obtained from Eastern and sent to Accurassay Ltd. in Gambo, Newfoundland, a different company, as a check on the results to conform to QA/QC protocols consistent with NI 43-101. Work was completed in 2010 under the supervision of Jim Weick and Wayne Pickett, both qualified professional geologists (P.Geo.) registered with the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEG-NL).

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Rusty Ridge Property

Interest and focus of KAT Exploration Inc. on its wholly owned Rusty Ridge property is Iron Oxide-Copper-Gold (IOCG) potential. Primary target is an interpreted mineralized deep-seated gravity/magnetic body hosted by a plutonic entity intruding volcanic rocks. KAT has undertaken a technical review and a proposal for a diamond drilling program for implementation in 2010. The Rusty Ridge property, 2100 hectares in size is situated on Crown land, NTS Map Sheets 02C/05 and 02D/08, in proximity to the community of Bunyans Cove, Bonavista Peninsula. It is accessible via a forest access road from paved highway, Route 233. Mineral Exploration Licences comprising the property total 84 claims and are issued to Ken Stead Jr. (015991M), Timothy R. Stead (016772M) and Kat Exploration Inc. (016773M) (Table V). An assessment report for Year 1 and 2 for Licence 015991M has been successfully submitted to Mineral Lands Division, Department of Natural Resources, Government of Newfoundland and Labrador. The Licences are currently in good standing. Geology and Deposit Model Bedrock geology of the Rusty Ridge property consists of N-S trending Late Precambrian aged rocks comprising predominantly weakly metamorphosed bimodal (basic and felsic) volcanics of the Musgravetown Group in contact with conglomerates of the Cannings Cove Formation to the east and in fault contact with older schistose felsic, intermediate flows and pyroclastics of the Love Cove Group to the west (Figure 6). The regional N-S trending Charlottetown Fault separates the Musgravetown Group from the Love Cove Group. Mineral indications in outcrop and float occur as pyrite, hematite breccia, native copper and fluorite. This morphology and mineral association along with anomalous copper, silver, gold, cerium and lanthanum in soils from the area are suggestive of an IOCG-style target. Previous explorers have applied the IOCG model to Rusty Ridge by comparing it to the Australian Olympic Dam deposit. The African Zambian-Namibia Copper belt-type, otherwise known as the Greater Lufilian Arc IOCG model, fits Rusty Ridge equally well and this new analogy for a modified IOCG model should be considered. Previous Work Previous exploration on the Rusty Ridge property, in context with the Olympic Dam IOCG scenario, included prospecting, geological mapping, trenching, sampling; airborne magnetic, VLF-EM and radiometric surveys; ground Induced Polarization, magnetic and gravity surveys. Interpretation of coincident magnetic, IP and gravity anomalies, followed by 3-D Inversion of magnetic and gravity data outlined a major deep-seated and several smaller near-surface targets.

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Rusty Ridge and Shaylee claims and geology

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Exploration Targets Located at the southern end of a previously cut grid, the primary target is a coincident magnetic-gravity anomaly, a single entity comprised of a shallow portion and a deep portion. The anomaly is loosely visualized as the shape of a long-necked bird, the head being the shallow portion lying approximately 75.0 m below surface and body equivalent to the deep-seated portion occurring at a much greater depth (Figures 7 to 9). Priority No. 1 target may be initially tested by drilling a less expensive drill hole to intersect the upper portion of the anomaly or a riskier considerably deeper drill hole, 800m ( mile) total depth, to intersect the main body of the anomaly. The target is a high density gravity anomaly having its central core zone located at depth beneath 9800E to 10000E on lines 8000N to 8200N (Figures 7 to 11). The tabular-shaped body correlates precisely with a high magnetic susceptibility zone...at 150m and 300m depth. A significant concentration of sulphide mineralization was interpreted to possibly occur at a depth of about 75m to at least 500m within a large vertical elongated pipe shaped body, possibly a mafic or ultramafic intrusive rock (Woods 2003). The deep drill hole is proposed to be collared at 8100N-9900E, drilled vertically to depth of at least 700 meters, possibly 800 meters. This would allow intersection of the top of the body, penetrate the body core at the 500 meter depth and terminate possibly within the body.

Rusty Ridge 3D inversion of gravity anomaly

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Rusty Ridge gravity anomaly - cross section looking north

Rusty Ridge gravity anomaly - cross section looking west

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Rusty Ridge gravity anomaly - plan map at 100 m depth

Rusty Ridge gravity anomaly - plan map at 400 m depth

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Priority No. 2 target located at the northwest end of the grid is considerably shallower than the Priority No. 1 anomaly. The target is historically interpreted (2003) as a small, high-density gravity anomaly, one of several, defining a linear zone comprised possibly of highly magnetic felsic to intermediate rocks, narrower dykes or sills having associated sulphides. Interpretation suggests L9800N, 87+50E is the location of a 0.23 mgal anomaly at 25 meters depth and could be intersected by a 100 m length inclined drill hole. Though the economic potential is attractive, it is important to consider that the possible existence of mineralization at depth is based mainly upon a geophysical interpretation.

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Colliers Property
Colliers is a 100% owned KAT Exploration Inc. property. Exploration target on this historic underexplored property is volcanic red bed copper (VRC) similar to deposits in Michigan State, USA, specifically, chalcopyrite and bornite mineralization associated with mafic volcanic rocks. The Colliers property is 500 hectares in size and is situated on Crown land, NTS Map Sh eet 01N/06, in proximity to the communities of Colliers and Conception Harbour, Avalon Peninsula (Figures 5 and 18). It is accessible by a gravel bush road leading from paved municipal roads linking with Route 60 and the Trans Canada Highway. Exploration licence No. 011706M, totalling 20 claims, issued to KAT Exploration Inc. is in good standing until February 13, 2015 (Table V). Bedrock geology is predominantly comprised of Late Precambrian Neoproterozoic aged rocks. Terrestrial felsic and mafic volcanic rocks of the Harbour Main Group are in fault contact with deep water marine sedimentary rocks (turbidites) of the Conception Group. Apparently unexplored for at least 150 years, KAT Exploration Inc. staked the property in 2006 for its VRC potential associated with chalcopyrite, bornite and malachite mineralization located in a 27 m deep shaft sunk in the 1850s. A 40m x 15m area was stripped in the immediate vicinity of the shaft. Assays of 7 selected grab samples ranged from 0.09% to 23.6% copper and from 0.3 g/t to 236.3 g/t silver averaging 8.65% copper and 61.59 g/t silver. Altius Resources Inc. examined the property in 2006, taking 11 channel samples on the outcrop excavated by KAT. Best results were 1.48% copper and 6.63 g/t silver over 11.0 m; 3.00% copper and 19.90 g/t silver over 3.0m and 1.86% copper and 1.60 g/t silver over 2.0m (Figure 19).

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Collier's Property - claims and geology

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Colliers Property Copper Prospect outcrop and channel sample locations

Positive economic potential recognized on Colliers property requires prospecting, geological mapping and soil sampling over a larger area to further delineate the extent of the copper mineralization.

Kat Gold Holdings Corp.

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South Lucky Property

The South Lucky property target is sediment-hosted stratiform copper (SSC) similar to the Zambian Copper Belt, Africa. The exploration target is sediment-hosted stratiform copper (SSC) similar to the Zambian Copper Belt, Africa, specifically, chalcocite (and malachite) mineralization associated with sedimentary rocks. The claims are completely surrounded by large licences held by Vale Exploration Canada Inc. The South Lucky property, 150 hectares in size is situated on Crown land, 10 km southwest of the North Lucky property, NTS Map Sheets 02C/06, north of the community of Port Rexton, Bonavista Peninsula. (Figures 5 and 20). It is accessible via Route 236, a gravel road and numerous ATV trails. Mineral Exploration Licence No. 015995M, totalling 6 claims, comprising the South Lucky property was issued to Ken Stead Jr. and subsequently transferred to KAT Exploration Inc. (Table V). A Year I Assessment Report was recently filed with Minerals Lands Division, Department of Natural Resources; the licence is currently in good standing. Bedrock geology of the South Lucky property consists entirely of green sandstone and siltstone of the Late Neoproterozoic Rocky Harbour Formation, Musgravetown Group. Three intersecting regional faults surround the property. Large scale exploration programs were undertaken over the entire Bonavista Peninsula between 2000 and 2004 for SSC mineralization following the discovery of copper showings in a typical SSC redox zone at Red Cliff, situated nearby, at the tip of the peninsula. Exploration surveys on the Red Cliff property optioned by Noranda Inc., 2001-02, included prospecting, geological mapping, rock sampling, lake, stream, soil, till sampling and diamond drilling. The Fifields Pit copper occurrence was discovered in the Port Rexton area during prospecting of an area defined by a strong, discreet copper lake sediment anomaly and soil anomaly in the locale of Licence 015995M. The prospect was drilled in 2002. The Fifields Pit prospect outlined by a copper showing in bedrock and tested by two diamond drill holes and a trench is the primary mineralized locality on South Lucky property (Figure 21). The showing occurs in strongly structurally controlled siliceous siltstone containing ripplelaminated sand laminae and slump folds. Copper mineralization occurs as disseminated grains of chalcocite and chalcopyrite and secondary growths of malachite and chalcocite on fracture surfaces and bedding planes smears. Chip sampling of the surface exposure returned 235-1149 ppm Cu in 1.0 meter samples across 10.0 meters. Results from each of two inclined diamond drill holes, totalling 142.8m, drilled to intersect the surface copper showing at depth, returned 200 to 300 ppm Cu over 7.60m and 300 to 1300 ppm Cu over 44.30m. Trace to minor disseminated chalcocite, bornite and chalcopyrite were visually recognized in grey and green

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South Lucky Property claims and geology

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siltstone and sandstone core. The 2010 exploration program by KAT Exploration Inc. exposed more copper (malachite) mineralization in a single trench and a scraped area in the vicinity of the main showing.

Copper mineralization (malachite staining) in Fifields Pit Trench

Economic potential of South Lucky property is positive and upgradeable. Goals for follow-up evaluation to further delineate more mineralization include geologically mapping of Fifields Pit and beyond the pit boundaries coupled with prospecting/sampling and infill soil sampling to outline additional trenching/drilling targets.

Kat Gold Holdings Corp.