OPERATIONS

Anglo Asian Mining’s operations are focussed on various projects within three primary Contract Areas in Azerbaijan. The rights to explore and develop all minerals in these areas are governed by a PSA with the Azeri Government.

• Gedabek Contract Area - 300 sq km, with the mining and exploration rights until February 2022. Within this Contract Area, the Company has developed the producing Gedabek gold/copper mine.
• Gosha Contract Area - 300 sq km, with the right to explore for precious and base metals until 13 April 2011.
• Ordubad Contract Area - 462 sq km with the right to explore for precious and base metals until 13 April 2011.
• Occupied Territories – 900 sq km area, which will be developed as and when the political situation ameliorates.

The immediate focus for the Company is Gedabek, where gold production commenced in mid 2009. Exploration will be targeted at the surrounding locations in order to extend the current six year mine life and a gold equivalent resource of 1,081,000 oz. In particular, targeted exploration activity will be undertaken in Maarif, a prospective mining property within the Gedabek contract area, and Gosha in 2009. Further exploration on Gedabek, Gosha and Ordubad is planned for 2010 to prove up existing Soviet data and identify further production opportunities.