EGI Business Overview:

Long track record and experience of management in mining gold profitably in Southern African greenstone terrains
Highly prospective mineral assets which include a producing mine and a 'pipe-line' of development projects on known orebodies
Well planned growth strategy which includes consolidation of operations in an infrastructurally developed region
A mining strategy which benefits from economies of scale by adopting bulk mining methods and making use of centralized processing facilities  
A low cost underground producer with operating profits at gold prices of $500/oz and more

Eastern Goldfields, Inc. ("EGI"), is the parent company of Eastern Goldfields SA (Proprietary) Limited (EGSA), a corporation registered under the laws of the Republic of South Africa. EGSA owns the controlling interest in Eastern Goldfields Limited ("EGL"), the Group's South African operating company. EGL, as well as its four subsidiary companies, namely, Makonjwaan Imperial Mining Company (Pty) Ltd ("MIMCO"), Eastern Goldfields Exploration (Pty) Ltd ("EGE"), Centurion Mining Company (Pty) Ltd ("Centurion") and Barbrook Mines Ltd (“Barbrook”), hold various prospecting and mining rights, including mining licenses for the Lily Mine and the Barbrook Mine. The now depleted open pit operations at the Lily Mine and the nearby Makonjwaan metallurgical plant have been operating profitably under current management since 2000.

The company's main area of business is that of gold production and gold exploration & development. The mining operations are situated in the north eastern portion of the Barberton Mountainland - the second largest goldfield in South Africa, second only to the Witwatersrand Basin, the world's largest goldfield.

In addition to operating the Lily Mine, the EGI management team is also conducting various exploration programmes in order to develop its other significant mineral assets within the greenstone belt of the Barberton Mountainland.Since 2005, an extensive drilling program was completed to confirm the boundaries of the Lily Mine's ore body and to upgrade mineral resource estimates by improving estimation confidences. The results of this drilling program show mineral resources of at least 2 million oz., containing mineral reserves estimated at 500,000 oz to a depth of approximately 500m below surface.

Expansion of production at the Lily Mine and plans to re-open the Barbrook and Worcester mines via underground operations by developing their mineral resources over the next 3 years will enable EGI to grow substantially in value as the company progresses towards its goal of becoming a significant junior resource company and second tier gold producer.