Company Overview

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Table of Contents

Welcome

Share Capital

Shareholder Structure

Management

Romania Today

Romania A Favourable Business Environment

Romania Foreign Direct Investments

Romania Open to Mining New Mining Law Enacted in June 1998

Government backing for development of mining sector

Romania Disadvantaged Zones

General Location Map

Golden Quadrilateral, Mineral Concession Holders

Project Location Map

Gabriel Resources Corporate Structure

Joint Venture Terms

Teck Agreement

Rosia Montana Principal Technical Consultants

Rosia Montana Project Cetate and Cirnic Deposits

Rosia Montana General Geology

Rosia Montana Geological Cross Section

Rosia Montana Current Geologic Resource

Rosia Montana Pre-Feasibility Mineable Reserves

Pincock Allen & Holt Pre-Feasibility Study Results

Rosia Montana Process Flowsheet

Rosia Montana Operating Costs

Rosia Montana Capital Costs

Rosia Montana Work Program 2000 to 2001

Gabriel Resources Cost of Work Program

Current Gold Resource

How Rosia Montana Compares to its Peers

Cash Cost Profile

Gabriel Resources Summary

Market Outperformance