/// EXPLORATION

Citadel has a quality portfolio of gold and base metal projects within the Arabian Shield of Saudi Arabia. All projects are 100% owned other than Jabal Sayid which is 50% owned. This portfolio includes:

Jabal Sayid (50%): A world class copper project containing Mineral Resources of 100 Mt at 1.2% Cu. Jabal Sayid is in development with commissioning and first copper concentrate scheduled for mid 2011.

Jabal Shayban: A gold and copper project containing historical Mineral Resources of 1.8Mt at 2.8 g/t Au, 26.7 g/t Ag, 0.5% Cu (Ma’aden 1999). Citadel is currently drilling and exploring the copper and gold potential.

Lahuf: Situated 8km from a producing gold mine with 6Moz past production, it has a historical Mineral Resource of 1.7 Mt at 2.6 g/t Au, open at depth. Lahuf has returned some promising copper and gold results during 2009 exploration

Bari: A Greenfields porphyry copper and gold exploration project which has a mineralised footprint in excess of 6km x 4km.

Wadi Kamal: A highly prospective base metal and platinum group exploration project - virtually unexplored sulphur saturated layered ultramafic complex. Recent exploration by Citadel has upgraded Wadi Kamal’s exploration potential to a high priority.

Murayjib-Bil’iwy: Trenching of a major alteration and quartz vein systems. Significant cluster of ancient workings extend over a 20km strike extent. Historical trenching data returned 32m at 1.75 g/t Au and 12m at 1.8 g/t Au.

Jabal Baydan: A zinc and gold project 5km from Jabal Shayban where significant high grade zinc and precious metal mineralisation has been intersected.