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					Golden Valley Mines:

Exploring New Opportunities
in Sierra Leone




Staking, drilling and discovering



                                    1
                                                                                                 Disclaimer
Forward Looking Statements
This document contains certain forward-looking information and statements (together “forward-looking statements”). In some cases, words
such as “plans”, “expects”, or “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”,
“believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be
taken, occur, be achieved or continue, have been used to identify these forward-looking statements. These forward-looking statements
are subject to a variety of risks and uncertainties beyond the ability of Golden Valley Mines Ltd. (the “Company”) to control or predict and
are not to be interpreted as guarantees for future performance. These forward-looking statements could cause actual events or results to
differ materially from those anticipated in such forward-looking statements. All forward-looking statements, including those made verbally
by Company representatives in the context of a presentation, speak only as of the date they are made and, except as required by law, the
Company does not undertake any obligation to update or publicly release any revisions to such forward-looking statements to reflect
events, circumstances, or changes in expectations after the date hereof, except as required by law. Accordingly, readers should not place
undue reliance on such forward-looking statements.

Risks and Uncertainties
Mineral exploration and mining involve considerable financial and technical risk. Substantial expenditures are usually required to establish
ore reserves, to evaluate metallurgical processes and to construct mining and processing facilities at a particular site. It is impossible to
assure that the current exploration programs planned by the Company will result in profitable commercial mining operations. Unusual or
unexpected geological formations, unstable ground conditions that could result in cave-ins or land slides, floods, power outages or fuel
shortages, labour disruptions, fires, explosions, and the inability to obtain suitable or adequate machinery, equipment or labour are risks
associated with the conduct of exploration programs and the operation of mines. At this point, the Company has no experience in the
development and operation of mines and in the construction of facilities required to bring mines into production, and it has, to date relied,
and may continue to rely, upon consultants for expertise with respect to the construction and operation of a mining facility.

Future exploration and development activities on the Company’s properties will require additional financing. There is no assurance that
additional funding will be available to the Company when needed or that, if available, the terms of such financing will be commercially
reasonable. Failure to obtain such additional financing could result in delay or indefinite postponement of further exploration and
development of the property interests of the Company with the possible dilution or loss of such interests. The effects of these factors
cannot be accurately predicted, but any of these issues could impede development or render it uneconomic. The Company’s Sierra Leone
operations operated through its subsidiary Calone Mining Company (S.L..) Limited are also subject to political, regulatory, foreign
exchange and currency fluctuation risks.                                                                                                2
• Continuous exploration 12 months of the year for
  precious and base metals

• Majority land ownership in over 153 properties,
  exposure to 3,839 claims and diversified
  commodities (Au, Cu-Zn, diamonds, Ni-Cu-PGE)

• Projects in Sierra Leone, held through wholly
  owned subsidiary, Calone Mining Company (SL)       Golden Valley « moose pasture »

  Ltd.

• JV partners are used to leverage larger projects
  by providing substantial funding

• $4.4 million in cash & short term investments

• Only exploration drilling leads to discoveries;
  GZZ is continuously drilling!                                                        3
• Geology – highly prospective (Guyana
  Shield); West Africa; located in central
  part of Archean West African Craton

• Approx. size of New Brunswick
  (Canada)

• West African neighbours:
   • Guinea (north)
   • Liberia (south)

• Population of Sierra Leone: 6,000,000




                                                                                                    5
                                             Source: http://www.agapemeridian.com/Pangaea_continents.png
  Recent success by competitors
 (London Mining, African Minerals,
     Cluff Gold; Sierra Rutile)
   Under-explored, low-cost/high
potential reward proposition - Sierra
 Leone is now benefiting from new
infrastructure investment (railroads,
       ports, hydro dam, etc.)
  Favourable mining act, updated
         November 2009
   Mining previously contributed
        approx. 20% GDP
Mining accounts for approx. 90% of
           all exports
 Star of Sierra Leone (969 carats)
                                        6
                       Calone Mining Company (S.L.) Ltd.
                 (Golden Valley’s wholly owned subsidiary)


                         Current Projects in Sierra Leone *
   Project Areas consisting of:

                  • Au-VMS (Sula Mountains)

                  • Diamonds (Sewa and Bafi Rivers)

                  • Au-VMS @ Nimini Hills

                  • Uranium potential in broad area

*On December 16, 2010, the Company announced that the Ministry of Mineral Resources of the Mines Division of Sierra Leone had cancelled 2 of the 5
licenses that it holds in Sierra Leone. The Company believes that all renewal fees have been duly paid and that all work perf ormed to date has been
executed in compliance with local mining regulations. The Company is currently working in conjunction with its team of advisors in Sierra Leone to
clarify the situation with the local authorities so as to understand the reasons behind this decision.                                                 7
                 Calone’s Board of Directors

Arthur T. Porter (Snr.), M.R.S.L., M.A., Ph.D., D.H.L., D. Litt.;
•Retired SL academic, former Chairman of National Diamond Mining Company Ltd


Hon. Dr Arthur T Porter, PC MD;
•Board member of Air Canada, Munder Funds, Member of Privy Council of
Canada; DG/CEO McGill University Health Centre; Chairman of Calone


Vincent Kanu, GOOR;
•Chairman, National Petroleum; former Italian Counsul in Sierra Leone; Director of
Access Bank



J. David Allen, MA MBA;
•Managing Director of Calone Mining Company SL Ltd.; international business and
trade development for GM, sourcing raw materials



Glenn J. Mullan P. Geo. (B.Sc.);
•Geologist/prospector, founder of GZZ and Chairman Emeritus of Canadian
Royalties
                                                                                     8
Au-Cu-Zn-Ag
Targets


              Diamond Targets




                                9
• Abundance of mineral
  opportunities including
  iron ore, bauxite, rutile,
  gold, base metals, and
  diamonds

• GZZ now working in
  three project areas*

• Initial focus are
  PreCambrian greenstone
  belts and diamonds
  areas in Kono district*      *On December 16, 2010, the Company announced that the Ministry of Mineral Resources of the Mines Division of Sierra Leone had cancelled
                               2 of the 5 licenses that it holds in Sierra Leone. The Company believes that all renewal fees have been duly paid and that all work performed
                               to date has been executed in compliance with local mining regulations. The Company is currently working in conjunction with its team of
                               advisors in Sierra Leone to clarify the situation with the local authorities so as to understand the reasons behind this decision.
                                                                                                                                                            10
High grade gold, en echelon
quartz veins mapped by Sierra
Leone     Geological    Survey
(within Calone’s APL’s)


 On December 16, 2010, the Company announced that the Ministry of Mineral Resources of the Mines Division of Sierra Leone had cancelled 2 of the 5 licenses that it holds in Sierra Leone. The Company believes that all renewal
 fees have been duly paid and that all work performed to date has been executed in compliance with local mining regulations. The Company is currently working in conjunction with its team of advisors in Sierra Leone to clarify the
 situation with the local authorities so as to understand the reasons behind this decision.

                                                                                                                                                                                                                                11
 Bafi River – Kona Area




On December 16, 2010, the Company announced that the Ministry of Mineral Resources of the Mines Division of Sierra Leone had cancelled 2 of the 5 licenses that it holds in Sierra Leone. The Company believes that all renewal fees have
been duly paid and that all work performed to date has been executed in compliance with local mining regulations. The Company is currently working in conjunction with its team of advisors in Sierra Leone to clarify the situation with the
local authorities so as to understand the reasons behind this decision.

                                                                                                                                                                                                                             12
13
•   GZZ/Calone have a Corporate Social
    Responsibility (“CSR”) policy in place
    and applies it to all Management,
    employees and contractors

•   Actively working with the
    communities/Chiefdoms in Sierra Leone;
    early engagement to identify local
    priorities

•   Committed to improving the social and
    living conditions in our work areas:
    health, education, employment, safety

•   Governance, ethical business practices,
    engage host communities, sustainable
    development principals
                                              14
                                   15
Boundary Central   Boundary East
Management                                 Key Consultants
Glenn Mullan – Chairman, President/CEO     Auditors: Raymond Chabot Grant Thornton
Annie Karahissarian – CFO                  Bankers; Royal Bank of Canada
Michael Rosatelli – VP Exploration         Transfer Agent: Computershare Investor
Luciana Zannella – VP Corporate and        Services
Legal Affairs; Corporate Secretary         Legal Counsel (External): Getz Prince Wells
                                           & Lavery de Billy
GZZ Board of Directors                     Sierra Leone: Mr. Mohamed B Mansaray
George Cross (retired writer/journalist)   Berthan MacCaulay jnr – Local Counsel
Joe Groia (Lawyer, BA, JD)
Blair Morton (Former Chairman &
President, Ross Finlay 2000 Inc.)
Glenn Mullan (Geologist, B.Sc.)
The Hon. Arthur Porter (Medical
Physician)
Robert Smith (Businessman, B.Sc., MBA)
Dr. Jens Zinke (Geophysicist ,BA, B.Sc.,
MS, PhD)
                                                                                16
• Continue JV partner-funded programs
  aggressively.

• Seek new transactions to develop GZZ                              Otish Basin Uranium prospect,
  properties.                                                       North-Central Québec
    •   Ducros Prospects (nickel-copper-PGE’s)
    •   Shoot Out Prospects (nickel-copper-PGE’s)
    •   Marymac Prospect (nickel-copper-PGE’s)
    •   Otish & Beartooth Prospects (uranium)
    •   Calone Mining Company (S.L.) Ltd holdings in Sierra Leone


• Evaluate & Exploit new opportunities.

• Continue to generate new precious & base
  metal & uranium projects.


                                                                    Sierra Leone
                                                                                                    17
Cash                      ~$4.4 million

Price                        $0.55

52 Week Range             $0.22 - $0.57

Market Capitalization     $39.3 million

Shares Outstanding        71.6 million

Options Outstanding       6.1 million

Warrants Outstanding      3.3 million

Average Daily Volume        168,003

Insider Ownership              7%         Source: stockhouse.com

As at February 25, 2011

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John Kaiser
  • “… Perpetual Lottery Ticket …”

         Refers to our ongoing Abitibi Exploration Program designed to continuously
         drill-test promising targets

Lawrence Roulston
  • “… extraordinary property portfolio … with huge upside potential …”

  • “… more opportunities for exploration success than any other company …”

         Refers to the quality and number of exploration properties in our portfolio (in
         excess of 140 including a large variety of commodities)

   Safe Harbour Statement – “All statements other than those of historical fact that are within this presentation or made by the company representatives are
   "forward-looking statements" that may involve a number of unknown risks, uncertainties and other factors. There can be no assurance that such statements
   will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.”
                                                                                                                                                          19
    For more information contact:
           Glenn J Mullan
            Val-d’Or Office
        2864, Chemin Sullivan
          Val-d’Or, Québec
               J9P 0B9
           (819) 824-2808




Staking, drilling and discovering



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