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					Allied Gold Limited
Pacific Rim gold producer - moving up a gear




Dawn at Gold Ridge
     Allied Gold Limited   Investor Presentation - May 2011   1
Disclaimer
Forward Looking Statement and Competent Persons Statement


This presentation does not constitute an offer or a solicitation of an offer to purchase equity securities of Allied Gold Limited (“Allied Gold”).

To the extent permitted by law, none of Allied Gold, its subsidiaries, or any of their representatives make any representation or warranty, express or implied, as to the accuracy, reliability or
completeness of the information contained in this presentation and none of those parties have or assume any obligation to provide any additional information or to update this presentation. Certain
information in this presentation and oral statements made during this meeting is forward-looking and related to anticipated financial performance, events and strategies. Such forward-looking
statements may include, but are not limited to, statements with respect to the future financial or operating performance of Allied Gold, its subsidiaries and their respective projects, the future price of
gold, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital, operating and
exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining
operations, environmental risks, reclamation and rehabilitation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and
regulatory matters. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, or “believes”, or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will”
be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of
Allied Gold and/or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include,
among others, those factors discussed in the section entitled “Risk Factors” in the short form preliminary prospectus dated 13 November 2009 and the documents incorporated by reference in such
prospectus. Although Allied Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made based on the opinions
and estimates of management as at the date the statements are made, and Allied Gold disclaims any obligation to update any forward-looking statements except as required by law, whether as a
result of new information, estimates or opinions, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on forward-looking statements.



Competent Persons
The information in this announcement that relates to Mineral Resources, Project Financial modelling, Mining, Exploration and Metallurgical results, together with any related assessments and
interpretations, has been approved for release by Mr C R Hastings, MSc, BSc, M.Aus.I.M.M., a qualified geologist and full-time employee of the Company. Mr Hastings has sufficient experience which
is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the
“Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Hastings consents to the inclusion of the information contained in this ASX release in the form and
context in which it appears.

The information in this Presentation that relates to Mineral Resources has been compiled by Mr S Godfrey of Golder Associates who is a Member of the Australasian Institute of Mining and
Metallurgy. Mr Godfrey has had sufficient experience in Ore Resource estimation relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as
defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Godfrey consents to the inclusion of the information contained in
this Presentation in the form and context in which it appears.




         Allied Gold Limited                                  Investor Presentation - May 2011                                                                                                              2
Presentation Agenda

                        1.     Snapshot - Where we operate, our scale size
                        2.     Corporate Profile - Shareholder, Listings
                        3.     Inventory Profile - Reserves & Resources
                        4.     Production Profile - Now and Future
                        5.     Financial Profile - Cash Costs and Outlook
                        6.     Gold Ridge - Location, Then & Now
                        7.     Simberi - Location, Production, Oxides/Sulphides
                        8.     Exploration - Tabar Islands and Gold Ridge
                        9.     Appendices




  Allied Gold Limited   Investor Presentation - May 2011                          3
1. Allied Gold - A snapshot
Two mines in PacRim with 8.3Moz in Resource, producing 200k ozpa

                                                           What we have
                                                           = US$204/oz Reserves
                                                                                       8.3Moz
                           3hrs                            = US$81/oz Resources
                                                                                                                        9

                                                                                                                        8

                                                                                                                        8    3.1 Moz
                                                                                                  GoldRidge                  Inferred
                                                                                                                        7

                                                                                        Simberi                         6

                                                                                                                        5

                           3hrs                                                                                         4
                                                                                                                             5.1 Moz
                                                                                                                             Measured
                                                                                                                        3    Indicated

                                                                                                                       Moz

                                                           Nov06   Oct06       Jan09    May09     May10       Sep10



  What we Produce                                         Growth Options
  Moving to +200kozpa at US650/oz                         -Simberi oxides
                                                          -Simberi sulphides                                            Future
                                                          -Exploration PNG/Solomons

                                                                                              2011-12                  Simberi
                                                                                              Simberi                 +250k ozpa
                                                                                             ~100k ozpa
                                                                           2009-10
                                                                           Simberi           Gold Ridge               Gold Ridge
                                                                           ~64k ozpa         ~120k ozpa               ~120k ozpa



     Allied Gold Limited        Investor Presentation - May 2011                                                                        4
1a. Regional Profile - PacRim
Two mines and exploration ground in a prolific gold region




     Allied Gold Limited   Investor Presentation - May 2011   5
2. Corporate Profile
 Directors and Management

Mark Caruso – Executive Chairman                                         Ross Hastings - GM Resource Development
Over 25 years experience developing and operating mining companies.      Geologist with over 20 years international experience including
Director of Mineral Commodities Ltd.                                     Ok Tedi copper mine and Misima gold mine in PNG

Frank Terranova – Executive Director & CFO
                                                                         Drew Anwyll - GM Gold Ridge Operations
Chartered accountant with over 20 years experience in corporate          17+ years experience in mining, both underground and open
finance and financial risk management at Normandy Mining and             cut. Developing country experience includes 3 years in South
Queensland Cotton.
                                                                         Africa and the last 5 years at Porgera in PNG
Montague House – Non-Executive Director
                                                                         Peter Du Plessis - GM Simberi Operations
Former Member of WA Parliament and considerable board experience
with natural resources companies                                         Qualified Mine Manager with 35 years experience in both
                                                                         underground and open pit mining operations
Anthony Lowrie – Non-Executive Director
                                                                         Phil Davies - Chief Geologist
Former Chairman of ABN AMRO Asia Securities. Currently a Director of
Kenmare Resources plc and Edinburgh Dragon Fund                          25 years gold exploration experience in Australia and
                                                                         West Africa. Discovery record at all levels from grass roots to
Gregory Steemson – Non-Executive Director                                near-mine, bringing projects to mine status

Geologist and geophysicist with a background in mining and exploration   Alan Harrison - GM Human Resources
                                                                         Industrial psychologist with 20 years HR experience in major
Sean Harvey - Lead Independent Non-Exec Director                         mining projects for the Asia Pacific region involving the
                                                                         workforce, community and Government relations
Over 20 years experience in mining: 10 years in investment and
merchant banking, and last 10 years holding senior executive and board   Peter Torre - Company Secretary
positions with various mining companies
                                                                         Chartered Accountant and Chartered Secretary with 15 years
                                                                         experience in corporate advisory services and Company Secretary
                                                                         of other ASX listed companies

         Allied Gold Limited                 Investor Presentation - May 2011                                                              6
 2a. Corporate Profile
  As at mid April 2011

   Tickers       ASX:ALD, TSX:ALG, AIM:AGLD                  Shareholders as at 20 Jan 2011    Holding(%)   Country

                                                             1. M&G Investment Management        19.29%         UK
Shares                                1,198 million
                                                             2. Franklin Templeton                7.95%       USA
Options                                        59 million
                                                             3. Baker Steel Capital Managers      7.02%         UK
Cash as at 12 April                      US$ 100 M           4. Capital Research Global           6.45%     USA/UK
Debt as at 12 April                       US$ 55 M           5. JP Morgan Asset Management        4.67%         UK
Market Cap (US$0.60)                     US$ 720 M           6. Resource Capital Associates       4.48%       USA
                                                             7. Blackrock Advisors                3.29%       USA
                                                             8. Legal & General                   3.15%         UK
                                                             9. Libra Advisors                    2.84%       USA
                                                             10. Tocqueville                      2.00%       USA
                                                             Top 10 Holders                        61%
                                                             Top 20 Holders                        76%
                                  Year Low - 29c
                                  Year High -75c
                                                             Investors by country
                                                                     67%                       28%              3%
                    April 2010 to April 2011

          Allied Gold Limited           Investor Presentation - May 2011                                        7
Corporate Update
Capital Raising and London Listing



 On 6th April, Allied announced a A$93.8m capital raising (60c-a-share). Proceeds to be
  used on Simberi expansion, retiring debt, exploration and working capital.


 Allied has a US$35m debt facility with the IFC. Allied may elect to retire this debt in
  November when the first interest and principal payment is due. Allied also has a $19m
  5-year fleet leasing agreement with Bank of South Pacific, and may either retire in full or
  replace with new fleet lease financier.


 Allied intends to migrate from London AIM listing to Main Market listing. This is expected
  to occur in late June / early July.


 Possible share consolidation as part of LSE process



     Allied Gold Limited     Investor Presentation - May 2011                                   8
3. Inventory Profile
All open pit with Simberi +10 years, Gold Ridge ~10 years

What we have         Moz8.3                                                Asset Lives... at least a decade
= US$204/oz Reserves
= US$81/oz Resources                                                       Group Resources        8.3 Moz
                                                                           Group Reserves         3.3 Moz

                                                                           Gold Ridge Moz              Mt @ g/t
                                                                           1P Reserves     1.28      23 Mt @1.71
                                                                           MII Resources   2.09      38 Mt @1.73

                                                                           Simberi         Moz        Mt @ g/t
                                                                           2P Reserves     2.15      46 Mt @1.4
                                                                           MII Resources   6.22     173 Mt @1.1

Allied will spend $15m in 2011 to grow and replace resources.
Gold Ridge - has been under explored for a decade
Simberi - Oxide/Sulphide resource has grown every year and continues to grow
*EV/oz based on $675m EV (60c share price)

        Allied Gold Limited             Investor Presentation - May 2011                                      9
         4. Group Production Profile
         From March 2011 at 200k ozpa. Expansion options under review.


                         Production ‘000ozpa    * Forecasts subject to BFS and
                          year ending 30 June     investment decisions
                                                                                   120


             GoldRidge
             Simberi Sulphide                                                      150
                                                  120
             Simberi Oxide

                                                  100
                                64

      2008        2009       2010       2011     2012       2013       2014       2015    2016    2017   2018   2019   2020

                          2mtpa   2.4mtpa         3.5mtpa                  Oxide
                                                                            *5 mtpa oxides 130k-150k ozpa
Simberi




                          60kozpa 70kozpa         100k ozpa
                                                                              *2.5 mtpa sulphides 150k ozpa
Gold Ridge




                                                    2.5 mtpa plant 120k ozpa



                  Allied Gold Limited           Investor Presentation - May 2011                                       10
5. Allied Financial Profile
Unhedged +200kozpa, moderate cost, current margins US$600-700/oz

                                                   Allied US$/oz realised price                         Current Gold Price
               1400


               1200

                                   Hedging                          US$650/oz in Dec half
US$ an ounce




               1000           extinguished                          US$700/oz in Dec quarter


                 800                                                                               D&A $125-$150/oz

                                             744
                 600                                677     656     675
                                                                     est
                                  583                                             Cash cost range $650-600/oz without fuel initiatives
                 400


                 200
                        Dec-08            Dec-09           Dec-10   Jun-11   Dec-11            Dec-12             Dec-13             Dec-14


               Fuel for power (excluding fleet) accounts for $80-100/oz at Gold Ridge and Simberi. Potential savings include:
                Simberi - use of Heavy Fuel Oil will save $30-50/oz
                Gold Ridge - a mid-decade govt /IFC$300m hydro scheme could save $30-50/oz

                    Allied Gold Limited            Investor Presentation - May 2011                                                       11
6. Gold Ridge, Solomon Islands
A$150m delivered on time and on budget in March 2011




                                                              Gold Ridge Solomon Islands

     Allied Gold Limited   Investor Presentation - May 2011                         12
6a. Solomon Islands - Location
990 Islands with 70 languages and 550,000 people




                               3 hours


     Allied Gold Limited   Investor Presentation - May 2011   13
6b. Gold Ridge - An Overview
A$150m capex. 120,000ozpa. Gold poured in March
Ownership               100% owned by Allied Gold. Acquired ASG in 2009-10.

Capex                   A$150m 12-month refurb and expansion includes purchase of mining fleet,
                        community initiatives, operations readiness.
Inventory               Resources of 2.1 Moz. Limited drilling in a decade.

Plant                   2.5 Mtpa conventional SAG Mill and CIL plant.

Mining                  Open Pit. LOM Strip Ratio 1.55:1. Owner Operator.
                        In 2011 mining Valehaichichi + Namachamata pits. By 2012 Kupers / Dawson pits.

Production              Commissioning March 2011. 120kozpa for 9 years.
Assumptions             Mining US$4.40/t, Process US$15/t G&A US$4/t.
& Costs                  Target US$650/oz in first 2 years. Longer term US$550/oz.




        Allied Gold Limited         Investor Presentation - May 2011                                 14
6c. Gold Ridge - Mining
Mining since Oct 2010. Focus now on high-grade Namachamata pit
                                                                           Photo - Jan 2011




                                                             Namachamata
                                                                65koz




                                 Valehaichichi
                                    200koz


                           In 2011 mining in Namachamata and Valehaichichi
                           Then develop haul road access to Kupers and Dawsons.
                           Dawson/ Kupers enables 30% soft ore blend and high
               Dawsons      recoveries in oxide and primary material.
                           Continue at Valehaichichi provides ore source flexibility
                           From 2012 sourced from Dawsons / Kupers / Valehaichichi
    Allied Gold Limited   Investor Presentation - May 2011                                    15
6d. Gold Ridge - Then and Now
Old plant did well - The $150m refurbishment to make it better

                            Ross Mining - Circa 2000                           Allied Gold - In 2011
 Fleet             Single-axle rear-axle drive trucks.                Mix of articulated AWD and rigid frame
                                                                      trucks - flexible for tropical terrain.
 Mining            Access to one pit (Valehaichichi).                 Will have 2 pits in year one (Nam and
 + Blending        Successful start up on oxides but in year          Valeh) and various ores. 2-3 pits in years
                   2 ore trans & fresh. No chance to blend.           beyond. ROM doubled to 175k tonnes.

 Plant             Approx 83% due to the clogging at                  Target 91% (8000 hours per year)
                   crusher which led to stop/start milling
 Availability
 Plant and         2.0Mtpa                                            2.5Mtpa. Replace gravity tables with
                                                                      Knelson Concentrator and intense leach
 Process           6 tanks residence time 18-19 hours
                                                                      reactor to treat coarse gold. Also pebble
                                                                      crusher and thickener. 9 tanks for 30
                                                                      hours leach and absorption time
                   Constrained access , ore pushed though              More flexible mining
 Summary           mill limited chance to blend ore types.             More blending - standardized feed
                   Led to coarser grind, reduced leaching.             Greater residence times in tanks
                                                                       Recover more gravity gold


      Allied Gold Limited          Investor Presentation - May 2011                                                16
6e. Gold Ridge - Ramping Up
Still in the early weeks but running to plan

                                              Assumptions - Budget is three months to get to at a
                                               rate of 10koz a month. Recoveries initially mid 70%
                                               towards LOM 82% by year end

                                              Total Cash Cost - Targeting US$650/oz

                                              Plant - Running at circa 70% of nameplate
                                               throughput in April 2011 (first gold pour 8 March 2011)




      Allied Gold Limited   Investor Presentation - May 2011                                             17
6f. Gold Ridge, Solomon Islands
A quality asset in a country still underexplored




Opening Ceremony - March 2011

        Allied Gold Limited     Investor Presentation - May 2011   18
7. Simberi and Tabar Islands
3 hours from Port Moresby, 30 mins to Lihir




Simberi - Pigiput Bay                                            Rope Conveyor

        Allied Gold Limited   Investor Presentation - May 2011            19
7b. Simberi Production
Owner Operator. Strip Ratio 1:1. Free Dig. Sorowar focus of production




                                     Simberi




                                                                         Sorowar Pit

     Allied Gold Limited   Investor Presentation - May 2011                       20
  7c. Simberi Production Metric
  Strip Ratio 1:1. Recoveries Tracking 88-90%
                                                            91.3
90
                         88.7          88.5          89.3          88.5 89.4
                                                                                                           US$ Costs Per Tonne
                                87.2                                           30
85                                            85.6
                                                                                                   G&A              Process                  Mine
80                                     Recovery (%)
            77.1 78.2
75                                                                             25                                                                         6.9
         DQ08 MQ09 JQ09 SQ09 DQ09 MQ10 JQ10 SQ10 DQ10 MQ11
                                                                                                                   6.59
1200
                                                                                                                          8.09
                 Material Movement                                             20
                                                                                    7.47           6.44
                                                                                            6.5            5.89
                  Ore Mined (kt)
                                                                                                                                   6.51 6.37 6.46
1000
                  Waste (kt)
800
                                                       594 655                 15
                                                                                                                                                         14.85
                                                                     449
                                                                                                                   13.9
                                                                                                   11.92                  11.2
600
                                                                                    11.97                  10.95
                                                                               10           12.5                                          9.85
                                                                                                                                   9.83           9.47
                                                522
400                                495 449
          488                                                                  5
                      461 467                          535 528 543
                393                                                                                                                                      6.86
200                                                                                                 5.42           5.9     6
                                                                                    4.81                    5.05                   4.32   4.84    4.69
                                                                                            3.56
                                                241
                                   158 186                                     0
          69     55     57   65
     0                                                                              DQ08 MQ09 JQ09          SQ09   DQ09 MQ10 JQ10         SQ10   DQ10 MQ11      *
         DQ08 MQ09 JQ09 SQ09 DQ09 MQ10 JQ10 SQ10 DQ10 MQ11
                                                                                                                               * Two (2) months production only
                Allied Gold Limited                  Investor Presentation - May 2011                                                                     21
7d. Simberi Cost & Margins:
March quarter impacted by 4 weeks lost production
                                                                         1400
                                                                                             Received Price (US$/oz)                                  1381
                                                                                                                                               1370
            Quarterly Gold Production (koz)                              1200                                                           1223
                                                                                                                                 1184
                                                                                                                          1100
                                                                         1000
20   20.9                                                                                                 862
                                                                                           838                    866
                                                                         800
                                                           18.9                      774
                                                                                                   714
                                               18.1 18.2
            17.5                 17.5                                    600
                   16.7                                                         DQ08 MQ09 JQ09         SQ09 DQ09 MQ10 JQ10          SQ10 DQ10 MQ11
15
                                                                         1200
                                        14.7
                          14.1                                                             Quarterly Cash Costs (US$/oz)
                                                                         1000
                                                                                                                                                      1020
10                                                                10.8    800

                                                                                                         755    736     754
                                                                          600                                                       660    652
                                                                                                 586                          614
5                                                                         400
                                                                                401    428

                                                                          200



0                                                                           0
     DQ08 MQ09 JQ09 SQ09 DQ09 MQ10 JQ10 SQ10 DQ10 MQ11                          DQ08 MQ09 JQ09         SQ09 DQ09 MQ10 JQ10          SQ10 DQ10 MQ11


            Allied Gold Limited                   Investor Presentation - May 2011                                                                     22
7e. Simberi Oxides/Sulphides
Inventory options for Oxides (3.5-5mtpa) and Sulphides (1.5-2.5mtpa)
                                                                                 Having focused predominantly on sulphides at Pigibo and
                                                                                 Pigiput, Allied turning attention to untested oxide potential
 Simberi Measured, Indicated Inferred Resources
 Oxides (Mt)          Sulphides (Mt)                                                     210750mN
                                                                126
                                                  110                                    Extent of
                                                                                         Drilling
                                      87
                                                                          ?              210250mN
                                                                                                                         SOROWAR
                                                                                                                          2009 Pit
                                                                                                                           Design
                 47         48                                                           Untested
                                                 38        38                            Oxide
                       36        35
 26 27      29                                                        ?                  Potential
                                                                                         (BLUE blocks)


 2006      Oct-08     Jan-09 May-09 Mar-10 Aug-10                     2012
                                                                                         209500
                                                                                         At Pigibo,
                                                                                         mN
                                                                                         Recent assays of 32m @ 2.68 g/t from 21m in oxide
                                                                          4.6            confirmed the down dip continuity
 Oxides (MOz)          Sulphides (MOz)                      4.1
                                             3.3
                                                                                         209000mN
                1.8            1.9                                                                                             PIGIPUT
1.01.3       1.1            1.3            1.3            1.4         1.4                             PIGIBO




                                                                                                                440000
                                                                                                                mN
 2006        Oct-08         Jan-09     May-09            Mar-10       Aug-10


         Allied Gold Limited                          Investor Presentation - May 2011                                                       23
7f. Simberi - Future
At 100kozpa by end 2011 then increment or step changes

                           OXIDES - Expansion to 3.5Mtpa (100k ozpa) by end 2011
                           Allied has approved A$32m expansion to nameplate 3.5Mtpa
                           Tankage: Commence construction two new leach tanks in February
                           Thickener: Commence construction (Sept Q)
                           SAG Mill: On site footings (June Q) and installation (Sept Q)
                           Fleet: New Haulmax trucks on site. Three by mid year
                           OXIDES - Active Review of 5Mtpa option (~130k-150k ozpa)
                           Allied continues to review optionality of expanding to 5 Mtpa
                           Tankage: Would require 5 extra tanks. Thickener: One additional
                           Fuel: HFO. Ropecon: Currently 4Mtpa
                           Fleet: Fleet, road and haulage options would be reconsidered

                           SULPHIDES - BFS to focus on 2.5Mtpa (~150k ozpa)
                           Pre-feasibility (Nov 2010) on 1.5Mtpa roaster. BFS to focus on 2.5Mtpa
                           Reserves: Continue to grow inventory. New resource due Sept-2011
                           Roaster: Roaster pilot plant trials 2011
                           Timing: 2011 BFS. 2012 Decided/Permits. 2013-14 Build. 2015 Gold

     Allied Gold Limited           Investor Presentation - May 2011                           24
7g. Simberi - Oxide Expansions
A$32 million expansion to 3.5Mtpa complete by end 2011
 2.4 Mtpa in Place                 Moving 3.5 Mtpa                         Potential expansion to 5 Mtpa oxide circuit
1Ball, 1 Leach, 5 CIL             1 SAG, 2 Leach, 6 CIL                  Run both circuits - 1 Ball, 1 SAG, 2 Leach, 11 CIL



                                                                                                                 CIL
                               20 metres
                                                                                Leach               CIL
  Scats/Pebble
                                                                                                                 CIL
    Crusher
                                                                                                     CIL                     Thickener
                                              3.5
                                             Mtpa Cyclones                      Leach
Apron                                        SAG                                                                 CIL
Feeder
                                                                                                PSA
                                                                                                            Compressors
                                                                              Screens          Plant
                                                          Access Road

                                                          Cyclone         Screen
                                                                                             CIL          CIL          CIL

   Apron                        2 Mtpa                            Ball                                                        Thickener
                                                                                   Leach 1         CIL          CIL
   Feeder                      Scrubber                           mill               CIL
                                            Lime     Mill offline at 3.5 Mtpa
                                           Slaker    Back on for 5 Mtpa       Leach 1 becomes          Elution
                                                                              CIL under 3.5mtpa


         Allied Gold Limited                Investor Presentation - May 2011                                                              25
8. Exploration
Underexplored for a decade, new technologies and possibilities




    Allied Gold Limited   Investor Presentation - May 2011       26
8a. Simberi Exploration
Recent drilling outside pits highlights further sulphide

                                                  March Quarter Activity
                                                  Focused on resource confirmation and
                                                  extensions for the Simberi Sulphide BFS.
                                                  A total 1,731m drilled, with 5 core (1,016m)
                                                  and 9 RC (75m).

                                                  Better down-hole intercepts at Botlu included:

                                                  • 33m @ 2.15g/t Au from 119m in Sulphide
                                                    (SDH163)
                                                  • 41m @ 3.46g/t Au from 14m in Oxide,
                                                    Transition and Sulphide (SDH167)


                                                  Proposed June Quarter Activity
                                                  RC drilling, targeting largely oxide mineralisation
                                                  in area west of the Botlu and north of the Pigibo
                                                  deposit.
                                                  In both areas, assays of surface samples have
                                                  exceeded 1g/t Au.

    Allied Gold Limited   Investor Presentation - May 2011                                              27
8b. Tatau & Tabar Islands, PNG
Exploration - Multiple targets, attention turns to Mt Tiro

                                                March Quarter Activity
                                                Tatau - Core drilling in the Mt Tiro area, in
                                                south-west Tatau, with 3 holes completed
                                                during the quarter.
                                                Tabar - Gridding and auger soil sampling has
                                                commenced in the Banesa prospect area.


                                                Proposed June Quarter Activity
                                                Tatau - The core rig will continue to test
                                                targets in the Mt Tiro area, including at the
                                                nearby Seraro and Pepewo prospects.

                                                Tabar - A complementary IP geophysical
                                                survey is planned. Exploration is targeting
                                                extensions of the copper-gold porphyry
                                                mineralization intersected by core drilling in
                                                early 2009.


    Allied Gold Limited   Investor Presentation - May 2011                                       28
8c. Gold Ridge - Exploration
Low sulphidation epithermal gold deposit - over 1.5km x 2.5km

                                                                         Geology
                                   Plantsite and
                                     ROM pad                             •A typical low sulphidation epithermal gold deposit
                                                                         •Known mineralisation extends over 1.5km x 2.5km
                                                                         •Hosted by Gold Ridge Volcanics, structurally
                                                                          controlled
                         Valehaichichi
                                                                         •Open at depth. Potential for Cu-Au porphyry style
                                                                          mineralisation below epithermal deposits
          Namachamata
                                                                         •Additional exploration areas pegged
                            Kupers
                                                                         March Quarter Activity
                    Dawsons                                              •Predominantly grade control at Valehaichichi and
                                                                          Namachamata.

                                                                         Proposed June Quarter Activity
                                                                         •Diamond rig to access and then drill at ‘Charivunga
 Mining Lease boundary

                                                                          Mineralized Zone’ between Namachamata and
                                                                          Kupers to test areas, up-dip from the previous
                                                                          intercepts, at sufficient density to allow a resource
                                                                          estimate to be made.

            Allied Gold Limited                    Investor Presentation - May 2011                                          29
9. Appendix - Research

 Research Firm                          Analyst
 RBC                                    Steuart McIntyre, Geoff Breen

 Wilson HTM                             Keith Williams, James Brennan-Chong

 Casimir                                Wayne Atwell, James Crosby

 Stifel Nicolaus                        Josh Wolfson

 Mirabaud Securities                    Nick Chalmers

 Oriel Securities                       Kate Ward, Charles Cooper

 Edison Investment Research             Tom Hayes

 RCR Research                           Trent Allen


   Allied Gold Limited   Investor Presentation - May 2011                     30
10. Contact Us
www.alliedgold.com.au
Brisbane Office                  Toronto Office                 London - MerlinPR
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     Allied Gold Limited     Investor Presentation - May 2011                          31

				
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