TSX.V:EDW

Advancing the Corcoesto Gold Project

Corporate Presentation | Jan 2013

Certain statements in this document constitute “forward looking statements” which may not be based on historical fact. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: actual results of exploration and development activities; the estimation or realization of mineral reserves and resources; the timing and the amount of future production; the costs and timing of the development of new deposits; future prices of precious and base metals; accidents; risks inherent in mineral exploration; risks associated with development, construction and mining operations; restrictions on foreign ownership; the Company’s history of operating losses and uncertainty of future profitability; uncertainty of access to additional capital; environmental liability claims and insurance; and dependence on joint venture partners.

2

Forward Looking Statement

100% owned development stage Corcoesto Gold Project NW, Spain (1.5M ounces)

EDW - Market capitalization/ounce = ~$20/oz

Industry gold group peer Average = ~$50/oz

2012 Significant Project Execution

-Assembled an experienced mine-building management team Completed

-+50,000m infill drilling program successful Completed Select Results include: 66m @ 2.00g/t gold, 38.7m @ 1.93g/t gold, 41m @ 1.60g/t gold, 33.5m @ 1.91g/t gold,

57.8m @1.09g/t, 13.5m @ 2.57g/t gold, 12.35m @ 3.24g/t gold, 6.85m @ 5.63g/t gold.

-- Initiated Final Feasibility Study with Tetra Tech Completed

- Government approves Corcoesto as a Strategic Industrial Project Completed

- Edgewater signed a $120M debt mandate Completed

DECEMBER 2012 (EIA - Project Approved)

MINISTRY OF ENVIRONMENT APPROVES CORCOESTO GOLD PROJECT

Approval encompasses ALL aspects for mining, processing, tailings and waste disposal

EDW Value Opportunity

3

PRO MINING, STABLE MINING JURISDICTIONS

• First world, pro mining jurisdiction,

• Advanced Gold development project

• All levels of government and local communities supportive

• Excellent location with all infrastructure in place

• Full Environmental Impact Statement Approved

TEAM AND PARTNERS: Proven, Successful, Experience

• Proven management with mine building and production experience

• Financial Advisor: Mr. AJ Ali has successfully raise over $1B debt project finance

• Featherstone Capital Advisors: have significant success in creating shareholder wealth

• Tetra Tech: An internationally recognized leader in the design and engineering of feasibility level

gold projects world wide.

• Kinross Gold Corp.: A Canadian-based gold mining company with mines and projects in Brazil,

Canada, Chile, Ecuador, Ghana, Mauritania, Russia and United States.

Investment Highlights

4

Corcoesto Gold Project

• Nov 2011 Preliminary Economic Assessment*

ESTABLISHED PROJECTS

*$1500 Au

CORCOESTO GOLD PROJECT, Galicia NW Spain

ENCHI GOLD PROJECT, GHANA

• NPV 5% $340 Million

• IRR 34%

• PAYBACK yrs 2.5

• AVERAGE ANNUAL REVENUE $80M

• 2012 total NSR royalty on production of 2.5%

• 60 Km south west of Chirano Gold Mine (5M ounces)

• Recently announced resource (749,000 ounces gold grading 1.13g/t) using a

0.70g/t cut-off

• +500sq km land package

100% Ownership

51/49 Joint Venture Kinross Gold Corp.

Investment Highlights

5

George Salamis, President & CEO, Director +20 years experience directing exploration, development, and mining operations of a number of gold, base metal and coal projects, Mr. Salamis has held senior management positions with Placer Dome and Cameco Corporation and has completed M & A transactions valued over $1B

Greg Smith, P.Geo, Vice President Exploration +23 years exploration experience working for both junior & senior mining operations and has been involved in outlining +10Moz gold discovery

Edward Farrauto, CFO +20 years experience as CFO and Director of public companies, has been involved in raising over $500 million of equity and debt and completed M & A transactions valued over $750 million

Dr. John Thomas, COO +38 years experience in the mining industry in several countries. His experience covers a wide range of activities including process development, feasibility studies, management of construction and operation of mines. Dr. Thomas is a professional engineer and has a B.Sc., M.Sc., and a PhD in metallurgical processing

Mr. AJ Ali, Project Finance Advisor Mr. Ali has over 20 years experience in the mining industry and has been involved with over $2B (USD) in M&A and project financings for global mining projects. Previously Mr. Ali was the Chief Financial Officer and a Director of Centenario Copper Corporation before its acquisition by Quadra FNX Mining and Chief Financial Officer of EuroZinc Mining Corporation (2004 to 2006) before it merged with Lundin Mining.

Doug Forster, M.Sc. P.Geo, Director +30 years resource project development, M&A, equity finance and public company management, Mr. Forster is President & CEO of Featherstone Capital, he has been Founder and director of several public companies

Edgewater Mine-Building Team

6

Mgmt & Insiders

19%

Institutional 38%

Retail 38%

Kinross Gold Corp

5%

Ownership Share Structure

Issued & Outstanding 77,682,437

Warrants 6,515,000 @ 1.10 (2013)

984,780 @ $1.10 (2012)

7,806,500 @ $1.40 (2013)

2,436,250 @ $0.50 (2013)*

’22,117,750

Options 7,335,000

Fully Diluted* 107,135,187*

Cash $2,500,000

•If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on

the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M

warrants at $1.00 (included in the fully diluted number above).

*September 24 Edgewater sold a NSR royalty interest on the Corcoesto Gold Project and an

equity component to the same purchaser or the royalty

Edgewater Capital Structure (January 2012)

7

An autonomous region, all mine permits granted locally at the municipal and state levels (no federal approvals required), supportive from all levels of government

Excellent logistics with roads, power and water amenable to low cost development

PEA demonstrates robust economics with an average of 100k/oz a year gold project with expansion potential

2013 Transformational Year Upcoming Milestones

Updated NI 43-101 Resource Estimate – Q1, 2013

Final feasibility study - Q2 2013

Detailed Engineering – Q3 2013

Construction Decision - Q3 2013

Project Finance options underway

8

Corcoesto Gold Project

Corcoesto Plant site Drawing

6,000 tpd Years 1-10 (Base Case $US1300/oz)

Average annual production (Au oz) 102,000

Average annual net revenue ($US M) 60.0

Metallurgical recovery (%) 89.1

Strip Ratio 8.0/1

Average annual net cost ($US/oz) 713

Capital cost ($US M) (17.5% Contingency) 160

$1300/oz $1500/oz $1700/oz

Payback (years) 3.4 2.5 2.0

IRR (%) 24 34 41

NPV (5%) (Million) 206 340 446

Average annual net revenue ($US M) 60.0 80.3 96

Corcoesto Gold Project PEA (Nov 2011)

Preliminary Economic Assessment NI43-101 Compliant includes inferred mineral resources that are considered too speculative geologically to have the economic considerations

applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized

*Slide 10 containing details of the NI43-101 Compliant resource

9

Corcoesto Gold Project - Design

10

WASTE ROCK/TAILINGS

1.5km

200m

Resource expansion potential significant at depth

Corcoesto Resource Expansion Potential

11

10.71g/t gold over 17m

4.27g/t gold over 6.0m

4.49g/t gold

over 12.3m

4.50g/t gold over 5.5m

2.28g/t gold over 17.0m

2.0g/t gold over 66.5m

1.60g/t gold over 41.20 m

Corcoesto Exploration Upside

12

Pozo Del Ingles Gold Zone Grade thickness long section

Corcoesto Gold Project – Plan Map

Peton de Lobo Gold Zone Grade thickness long section

Cova Crea Zone Open at Depth

Potential extensions to structures on strike

Open at Depth

Open at Depth

Current Open pit shell

NI 43-101 Resource Summary

Resource Class Cutoff (g/t Au)

Tonnes (x1000)

Gold g/t

Contained Gold (x1000 oz)

Measured 0.65 3,899 1.77 222

Indicated 0.65 1,823 1.69 103

Measured + Indicated 0.65 5,783 1.74 325

Inferred 0.65/2.0 20,265 1.76 1,149

13

A total of 1,101.9 m of surface trenching in 55 trenches, 443.1 m of adit sampling in 4 adits and 42,326.2 m of diamond and RC drilling in 436 drill holes were used in the resource with sample spacing’s that were less than 30 m for Measured resources, less than 40 metres for Indicated resources and less than 195 m for Inferred resources except for Inferred resources below 200 m from surface and for the northern two vein systems that used drill spacing’s of 196 m

A base cutoff grade of 0.65 g/t Au was used for reporting resources above a depth of 200 m from surface and a cutoff grade of 2.0 g/t Au was used for reporting resources below 200 m from surface

Corcoesto 2011 Resource Estimate

+40,000m of in-fill drilling completed since the above resource estimate. (Focused on conversion of Inferred resources to Measured and Indicated). Updated resource estimate Q1, 2013

51/49 Joint Venture with Kinross Gold (TSX: K)

Mid-stage exploration comprised of 8 licenses totaling 568km2

Locating the next +3-5M ounce gold deposit on the Bibiani Shear Zone

Chirano covers 9km of the Bibiani Shear Zone

Enchi covers 50km over the Bibiani Shear Zone

Trenching and soil sampling underway

Airborne geophysical survey identified +25 new targets

Enchi Gold Project (SW, Ghana)

14

15

Enchi Resource with cut-off Range NI 43-101 Resource Summary

Cutoff (g/t Au)

Tonnes Gold g/t

Contained Gold

0.30 71,241,000 0.65 1,489,295

0.40 51,633,000 0.76 1,269,739*

0.50 37,278,000 0.89 1,063,868

0.60 27,538,000 1.01 892,682

0.70 20,627,000 1.13 749,081

0.80 15,887,000 1.24 635,200

0.90 12,644,000 1.35 546,878

*West African average cut-off is 0.4g/t which represents +1.2M ounces Gold

1. CIM definition standards were followed for the resource estimate.

2. The 2012 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by

wireframed solids.

3. A base cutoff grade of 0.7 g/t Au was used for reporting resources with a capping of gold grades at 18 g/t.

4. A density of 2.45 g/cm3 was applied.

5. Numbers may not add exactly due to rounding.

6. Mineral Resources that are not mineral reserves do not have economic viability

16

2 0 1 3 2 0 1 4

Q1 Q2 Q3 Q4 Q1

Construction Decision

Detailed Engineering

Final Feasibility Study

Edgewater News Flow & Timeline

Updated

Resource

Estimate

Final Feasibility

Study

Construction Q3 2013 – Q4 2014 Anticipated Production Start Q1 2015

Corcoesto

Corcoesto Project Finance Project

Finance

Construction

Staffing/Mine Contractor Selection/Socio-economic Initiatives

Contact Ryan King, Vice-President

604 628 1012 rking@edgewaterx.com www.edgewaterx.com