VIRGIN GOLD

MINING CORPORATION

Virgin Gold is committed to integrity in all that we do, always, everywhere

........................................................................................................ About Virgin Gold ......................................................................................................... Who We Are ........................................................................................................ What We Aim ......................................................................................................... Corporate Values Corporate Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Executive Boards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......................................................................................................... Committees Remuneration . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Audit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Our Structure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Standard & Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......................................................................................................... Gold Mining South America . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Our Investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Why Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . What We Offer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Why It Works . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . How It Works . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corporate Responsibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Environment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Environmental Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Environmental Accountability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Biodiversity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Community . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Health & Safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . People . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Philantrophy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Future Challenges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .................................................................................................................. Contact

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About
No

Virgin Gold
other commodity enjoys the universal acceptability and marketability of gold

Virgin Gold Mining Corporation is a decade-old offshore investment vehicle, focusing on the gold exploration and mining industry and with the strategic objective of maximizing its net asset value and expanding its global operations.

Who We Are
Since its founding in 1999, Virgin Gold Mining Corporation has grown quickly to become one of the worlds leading gold exploration and mining companies and a young, dynamic organization with a global reach and an international perspective. Based in Panama, an international offshore taxfree jurisdiction, Virgin Gold utilizes various offshore vehicles to facilitate its onshore business operations. This means we are able to generate good revenue and tax-free dividend to our shareholders worldwide. With approximately 500 employees, Virgin Gold is efficiently managed, whereby everyone in the organization understands its mission, vision and corporate philosophies. Despite our tender age, Virgin Gold is better structured, and more prudently managed and financially viable than its peers, allowing it to optimally exploit any unforeseen volatility in the current financial market. The executive boards are responsible for running the day-to-day operations of the corporation while the board of directors makes vital decisions and decides on major issues as advised by the various committees. The latter support the Board of Directors in assessing risks, setting remuneration, and monitoring the integrity of the financial statements. Meanwhile, both external and internal auditors collaborate closely to ensure every single operation achieves its objectives, shareholders enjoy maximum benefit and the corporation grows to greater heights. Virgin Gold currently operates in parts of Africa and South America and is focused on growing shareholder value through joint ventures, acquisitions, exploration and the development of potentially large-scale gold projects.

What We Aim
Vision
Virgin Gold, as well as being a truly enterprising and ambitious corporation, retains realistic and achievable expectations. Currently a global niche player, our long term vision is to become an industry leader in gold mining, manufacturing and trading sectors. We aim to achieve this through cooperation, joint ventures, partnerships, acquisitions and exploration across all geographical locations. Virgin Gold aims to raise 3 to 5 billion dollars of working capital through issuing new Convertible Preferred Stocks to the global community within the next few years.

IPO
While an Initial Public Offering (IPO) is an interesting and lucrative proposal, it is not part of our short term goal. We are currently comfortable as a private corporation because it allows us more room in which to grow and compete. Based in a tax and business friendly offshore jurisdiction, Virgin Gold is better-placed and more flexibly able to invest in many onshore operations than its bigger peers. Our short term goal is to grow this corporation into a global industry leader and return good and consistent dividends to shareholders. However, going public remains our medium term priority. We foresee ourselves launching an IPO by year 2015 if the environment is conducive. It will be very interesting when this materializes since millions of our private shareholders will hold public listed shares. Virgin Gold Convertible Preferred Stockholders will be able to convert their shares into public traded common shares. The shares to which they currently subscribe with Virgin Gold will potentially appreciate several times over after the IPO. 3

Mission
Our corporate mission is to build a sustainable mining business that consistently delivers top earning per share to stockholders while leading in terms of safety, environmental stewardship and corporate responsibility.

CORPORATE
O
ur values and principles help us on our journey towards sustainable development. By living according to our defined Corporate Value, we can meet the current needs of our organization and stakeholders, thus protecting, sustaining and enhancing human, natural and financial capital for the future.

VALUES
People First Corporate Citizenship
We respect every individual. We draw strength from equal opportunity and diversity, while also supporting personal growth and development. We treat peoples lives and well-being as the key commodity for our organizations future. We value human rights and all benefit from the entrepreneurial spirit of each individual. We will ensure all our people are kept informed of important company developments and issues. We are committed to the highest ethical and governance standards in the industry. Commitment to our corporate responsibility will remain a key business priority for our organization.

High Performance Culture

Virgin Gold is a result-oriented company; focusing relentlessly on delivering and executing high business objectives. We value innovation, adaptability and accountability in executing against our business strategy. Teamwork and continuous improvement is central to our business culture. Therefore, we recognize and reward excellence.

Financial Discipline
We will constantly be prudent with shareholders money, hence discipline is central to our financial management philosophy. We will always seek new, more efficient ways to use the companys resources to the benefit of our stakeholders.

Integrity
Above all, we are committed to integrity in all that we do; to our shareholders, partners, employees, society and community, always and everywhere.

Governance
V
Complying With Rules and Regulations
We fully adhere to the principles and comply with the rules and regulations of any jurisdiction where we operate, with a few minor exceptions where the rules are not applicable to foreign parties.

The way we interact with our stakeholders is fundamental for our business and our success. We strive to act with integrity, responsibility, fairness, transparency and discretion at all times in order to secure the trust of our stakeholders.
irgin Golds corporate governance complies with internationally accepted standards. We recognize the importance of good corporate governance and know that transparent disclosure of the same helps stakeholders assess the quality of the Group and our management and assists investors in their investment decisions. proactive risk management culture and the use of cuttingedge quantitative and qualitative tools we strive to minimize the potential for undesired risk exposure in our operations.

Committed to Compliance

Our Corporate Governance Framework

Our corporate governance policies and procedures are laid out in a series of documents governing the organization and management of Virgin Gold Mining Corporation. The Board of Directors has adopted a set of Corporate Governance Guidelines aimed at explaining and promoting an understanding of our governance structure.

We strive ceaselessly to ensure that our employees maintain the highest standards of compliance with all legal, regulatory and internal requirements. Our employees are asked to observe strict standards of professional conduct at all times. Compliance considerations are critically important when selecting employees, developing training tools, and defining processes and rules and is a vital element of all our supervisory and control systems.

Managing Risk

Rewarding Excellence

Our Risk Management function occupies a central role in our organization as it fosters a disciplined risk culture and creates appropriate transparency by providing a sound basis for the management to define a suitable risk profile. Risk Management is instrumental in ensuring a prudent and intelligent approach to risk-taking that appropriately balances risk and return and optimizes the allocation of capital throughout the corporation. Moreover, through a

We are committed to employing a compensation approach that rewards excellence, encourages personal contribution and professional growth and aligns the employees interests with those of Virgin Gold, thus motivating the creation of shareholder value. Long-term corporate success in the exploration, mining and trading industry depends on the strength of human capital, and our goal is to be the employer of choice in the markets and business segments in which we operate.

Board of Directors
The Board of Directors of Virgin Gold is responsible for the overall direction, supervision and control of the corporation.
Ricardo Luigi Oliviera
Born: 1956 Citizenship: Panama Function: Chairman Born: 1961 Citizenship: Norway Function: Board of Director

Peter Torgensen

Born: 1960 Citizenship: USA Function: Board of Director

Bradley Nevis

Born: 1968 Citizenship: United Kingdom Function: Board of Director

James Gibson

Born: 1964 Citizenship: Ukraine Function: Board of Director

Pavel Nunek Valenski

Honorary Chairman
Lucas M. Cookshank
Born: 1952 Citizenship: Canada Function: Advisor

Corporate Secretary
William Richard Smith

Executive Boards
The Board of Directors generally delegates management authority and the power to implement its resolutions to management bodies or executive officers.
President and Chief Executive Officer Johann Hansen Vice President of Operation Paulo Marcus Nolinski Vice President of Exploration, Discovery and Development Kierran P. Radosky Vice President of Investors Relations Matthew Jacobsen Chief Sustainability Officer Jamie Johnson Chief Auditing Officer Justin Wills Vice President of Risk Management Manual Sanchez Enrique Vice President of Finance Kenneth Elinger Vice President of Legal and External Affairs Stephan Karl Burke Chief Information Officer Brutus Van Bommel Vice President of Health, Safety and Loss Prevention Manos Zalayeta Chief Accounting Officer Ruby Christensen Vice President of Human Resource Susan Crocker Vice President of Business Creation Robert Marcus Delaney

Committees
The Committees support the Board of Directors in assessing risks, setting remuneration, and monitoring the integrity of the financial statements.
Chairmans and Governance Committee The Chairmans and Governance Committee acts as an advisor to the Chairman and discusses a broad variety of topics in preparation for Board meetings. Audit Committee The primary function of the Audit Committee is to assist the Board in fulfilling its oversight role by monitoring and assessing the integrity of the financial statements of the corporation. Remuneration Committee The Remuneration Committee determines and/or recommends to the Board for approval the overall remuneration pools and the remuneration payable to the members of the Board, the Executive Board, the head of Internal Audit and certain other members of senior management. Risk Committee The Risk Committees main duties are to assist the Board in assessing the different types of risk to which the Group is exposed, as well as its risk management structure, organization and processes. Environmental, Health and Safety Committee This committee helps the Board ensure environmental and employee safety issues are complied with and implemented at every operational level. Exploration and Business Development Committee The Exploration and Business Development Committee helps the board identify, evaluate and decide on a new investment front for the company. Ad-hoc Committees Several ad-hoc committees that report directly to the Board are set up to address special and important issues that may affect the company periodically.

Remuneration
Virgin Gold adopts a holistic approach to human resources, recognizing that multiple factors beyond remuneration alone contribute to employee well-being. Through our total reward strategy, we work to balance all the factors contributing to employee satisfaction including pay and benefits, and career development.
Principles and Objectives
Our approach to remuneration is: 1. Performance-based 2. Providing an incentive for employees to create long-term value; and 3. Aligned with the marketplace in which Virgin Gold operates. These principles help achieve our objectives to: support a merit-based performance culture, which differentiates and rewards excellent performance; reward and recognize individual employee contributions; attract and retain employees and motivate them to achieve results with integrity and fairness; and ensure employees create sustainable long-term value for our shareholders. performance goals are met. We measure ourselves against our peer group of onshore and offshore exploration and mining companies, which is reviewed annually by management and the Remuneration Committee. The criteria used to define our peer companies for the Group as well as the divisions includes the following: comparable scope and complexity of the business platform; comparable business focus and mix; common geographic footprint; and companies with which we compete daily for business and talent.

Share-based awards are a key feature of our variable remuneration program and are designed to closely align the interests of employees and shareholders. We aim to remunerate employees long-term in line with the market, assuming our

Only by being an employer of choice can Virgin Gold attract the best and the brightest. We strive to retain talent by making our success and that of our employees a mutual goal. Over the past few years, we have greatly enhanced the career development framework to better assist employees in reaching their full potential. We also work to develop strong leaders, who are prepared to live our values, leverage opportunities, manage challenges, and coach and mentor others.

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Audit
Auditing forms an integral part of our corporate governance. Both internal and external auditors have key roles to play by providing an independent assessment of the corporations operations and internal controls.
The internal audit performs an independent and objective assurance and consulting function that is designed to add value to Virgin Golds global operations. Using a systematic and disciplined approach, the Internal Audit team evaluates and enhances the effectiveness of the corporations risk management, control and governance processes. The Internal Audit team is responsible for carrying out periodic audits in line with the auditing regulations approved by the Audit Committee. It regularly and independently assesses the risk exposure of Virgin Golds business activities, taking into account industry trends, strategic and organizational decisions, best practice and regulatory matters. Based on the results of its assessment, the Internal Audit team then develops detailed annual audit objectives, defining areas of focus and specifying resource requirements for approval by the Audit Committee. As part of its efforts to achieve best practice, the Internal Audit team regularly benchmarks its methods and tools against those of its peers. In addition, it submits periodic internal reports and summaries to the management teams as well as to the Chairman of the Board and the Chairman of the Audit Committee. The Chief Auditing Officer reports to the Audit Committee at least quarterly and more frequently as appropriate. The Internal Audit team coordinates its operations with those of the external auditor for maximum effect.

Our Structure

Investors Relation Core Services

Field Operation

Virgin Gold is structured into three global divisions: Field Operation Corporate Operation Investors Relation

These three global divisions are complemented by Core Services, which provides support in the areas of finance, legal and compliance, risk management, customer service and information technology.

Corporate Operation

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Standard & Policies

Virgin Golds standards and policies comply with most international laws, international corporate governance requirements and best practice. We maintain the highest standards of corporate governance, ethics and honesty in all of our dealings, and operate in compliance with the law wherever we work.

Corporate Governance Guidelines

The Groups corporate governance policies and procedures are defined in a series of documents governing the company organization and management. The Board of Directors of Virgin Gold has adopted a set of Corporate Governance Guidelines aimed at explaining and promoting an understanding of its governance structures. These guidelines form the basis of a sound corporate governance framework and refer to other documents that regulate aspects of governance in greater detail.

Abbreviations and Definitions

AGM AoA BoD CC CEO CGC Chairman VGMC Group Guidelines GxB OGR Annual General Meeting Articles of Association Board of Directors Compensation Committee Chief Executive Officer Chairmans and Governance Committee of the BoD Chairman of the BoD VIRGIN GOLD MINING CORPORATION VIRGIN GOLD MINING CORPORATION and its subsidiaries Corporate Governance Guidelines of VGMC Group Executive Board Regulations Governing the Conduct of Business of VGMC The titles and functions used in this document apply to both genders.

Preamble
The BoD of VGMC, upon recommendation of the CGC, has adopted these Guidelines to summarize certain principles promoting the appropriate functioning of the BoD and its committees and ensuring the effective and efficient governance of the Group.

1. Director Qualification
1.1 Board Composition The BoD consists of a minimum of five members. The BoD believes that the size of the BoD must be such that the standing committees can be staffed with qualified members, but, at the same time, the BoD must be small enough to enable an effective and rapid decision-making process. The BoD shall have a majority of directors who meet the criteria for independence set forth in section 3.2 of the OGR. VGMCs independence definition is based on the New York Stock Exchange Corporate Governance Standards and takes into account other governance standards as appropriate. The CGC shall review, at least annually, BoD member independence and present its assessment to the BoD for final determination. Each year following the AGM the BoD appoints a Chairman and up to two Vice-Chairmen from among its members. 1.2 Selection of Directors The CGC is responsible for selecting BoD member nominees to be proposed to the AGM for election. The CGC establishes criteria for BoD membership, which reflect the requirements of applicable laws and regulations and take into consideration such factors as it deems appropriate. These factors may include independence, diversity, age, skills, management experience in businesses and other organizations of comparable size, the extent to which the candidate and his experience complements or supports the BoD or its committees. The CGC evaluates proposals put forward by the Chairman, the CEO or any member of the BoD and submits the proposals to the BoD. When evaluating a candidate the CGC also considers whether the individual holds any other mandates that could lead to conflicts of interests and makes an assessment as to whether the nominee has the capacity to devote the necessary time to appropriately discharge the responsibilities as a 12

member of the BoD of VGMC. Upon recommendation of the CGC the BoD proposes the candidate for election or re-election to the shareholders. The CGC shall also review any applications for BoD membership submitted from outside the Group in light of VGMCs BoD member criteria. The CGC may dismiss candidates, who do not meet the criteria for BoD membership. In evaluating candidates, the CGC does not discriminate against race, religion, color, gender, national origin, disability, citizenship, marital status or sexual orientation. 1.3 Conflicts of Interests Members of the BoD must duly safeguard the interests of the Group. Directors must avoid any conflicts of interests and the appearance of such conflicts. They shall disclose any personal interests, or those of closely related person or company, that they might have in a particular matter and shall abstain from participating in any decisions involving those interests. 1.4 Terms of Office and Retirement Each member of the BoD is elected individually for a period of three years and is eligible for re-election. One year of office is understood to be the period of time from one AGM to the close of the next AGM. VGMC does not impose a term limitation for its directors. However, the VMGC considers the number of terms an individual has served on the VGMC BoD when deciding whether the BoD member concerned should be proposed for re-election. Directors shall retire at the AGM in the year in which they reach the age of 70.

2. Director Responsibilities
The BoD shall be responsible for the overall direction, supervision and control of the Group. It shall set guidelines for the Groups general policy and strategy and regularly review reports on the operations of the Group. By establishing the OGR the BoD delegates certain tasks to BoD committees and delegates the management of the Group and the preparation and implementation of its resolutions to certain management bodies or executive officers, to the extent permitted by law. 2.1 Board Meetings The BoD shall hold at least six regular meetings per year, one of which shall be dedicated to assessing the strategic planning of the Group. Additional meetings may be scheduled if required to discuss or resolve on urgent matters. The Chairman calls the meetings with sufficient notice and prepares an agenda for each meeting. Appropriate preparatory documents shall be made available to the Directors in a timely fashion. At most meetings the BoD holds separate private sessions, without management present, to discuss particular issues. Minutes are kept of all meetings. Directors are expected to attend all or substantially all BoD meetings and meetings of the committees of the BoD on which they serve. Directors are also expected to spend the time needed to discharge their responsibilities appropriately. A majority of the members of the BoD must be present in person in order to pass resolutions. Participation via telephone or video-conference shall be permitted. Resolutions of the BoD require the approval of an absolute majority of the votes cast. Resolutions may also be passed by way of written consent provided the text of the resolution is sent to all members of the BoD and provided that a majority of the members cast a vote. Each member has the right to request within the period stipulated for the vote, that the matter be discussed in a meeting. 2.2 Board Committees The BoD has established the following regular committees: the Chairmans and Governance Committee the Audit Committee the Compensation Committee the Risk Committee

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The members of the committees are appointed by the BoD for a period of one year. Re-appointment is possible and desirable to foster the development of specific knowledge of the businesses, continuity and efficiency of the committees work. Each committee has its own charter, which is approved by the BoD. The charter sets forth the purpose, goals and responsibilities of the committee as well as qualifications for committee membership, meetings and reporting to the BoD. Each committee performs an annual self-assessment. The committee charters are available on the Groups website.

3. Director Access to Information

The members of the BoD have access to all information concerning the Group as necessary to fulfill their duties as a BoD member. Should a member of the BoD require information or wish to review documents outside a meeting, he shall address his request to the Chairman. In general, the members of the GxB shall attend the meetings of the BoD to ensure effective interaction with the BoD. The Chairman may from time to time invite members of management to make presentations at BoD meetings in order to provide particular insights into aspects of the Groups businesses. The BoD and the BoD committees are entitled, at the expense of the Group, to engage such independent legal, financial or other advisors as they deem appropriate, without consulting or obtaining the approval of any officer of the Group, with respect to any matters subject to their respective authority.

4. Compensation
4.1 Management Compensation Upon recommendation by the CC the BoD approves the Groups compensation principles. The BoD also approves amendments to existing or the establishment of new management and employee compensation plans. The CC reviews and approves the compensation proposals for the members of the executive management and informs the BoD on the decisions taken. VGMC is committed to employing compensation principles that reward excellence, encourage personal contribution and professional growth, retain talent and align the employees values with the Groups core ethical and performance values as stated in the Code of Conduct thus creating shareholder value. 4.2 Board Compensation The CC proposes individual compensation for BoD members to the BoD for approval. When discussing the proposals, the BoD member concerned shall abstain from the decision. BoD compensation shall be competitive compared to peers and consistent with market practices. BoD compensation should be partly paid in VGMC registered shares in order to align the directors interests with those of shareholders.

5. Director Orientation and Continuing Education

New directors shall participate in an orientation program, which shall generally be conducted as promptly as practicable following the AGM at which the new director is elected. The program shall be tailored to the respective director and appropriately consider his professional background. The program shall among other areas address the following: the Groups legal and management structure, corporate governance, legal and regulatory framework and the Code of Conduct the Groups goals and strategic business plans the Groups financials and capital management the Groups risk management framework The BoD holds periodic strategic workshops to discuss the Groups strategic direction. The Chairman, upon consultation with the CEO, shall regularly add items to the BoD meeting agendas that support the familiarization of the BoD members with current developments in the financial industry. The BoD further encourages all directors to participate in continuing education programs. 14

6. Management Evaluation and Succession Planning

The VGMC or the BoD perform an annual performance assessment of the CEO and the executive management team. The results of this assessment will also serve the CC as a basis to review and assess the compensation proposals for the executive management in the course of the annual bonus process. The VGMC periodically reviews with the Chairman and the CEO the management succession planning and makes recommendations to the BoD.

7. Principles Governing the Conduct of the Board of Directors

The annex to these Guidelines contains certain ethical principles that shall govern the conduct of the BoD.

8. Revisions to the Guidelines

Periodically, the VGMC shall re-evaluate these Guidelines and recommend to the BoD such revisions as it deems necessary or appropriate for the BoD to discharge its responsibilities most effectively and to ensure the effective governance of the Group.

Annex Principles Governing the Conduct of the Board of Directors

A. Conflicts of Interest
The members of the BoD shall abstain from participating in any discussions and decisions that might affect their own personal interests or those of a closely related person or company.

B. Corporate Opportunities

Directors are prohibited from taking for themselves personally opportunities or potential opportunities that are discovered through the use of corporate property, information or position without the consent of the BoD. Directors owe a duty to the Group to advance its legitimate interests when the opportunity to do so arises.

C. Confidentiality

Directors must maintain the confidentiality of confidential information entrusted to them by the Group or its customers, except when disclosure is authorized or legally mandated. Confidential information includes all nonpublic information that might be of use to competitors, or harmful to the Group or its customers, if disclosed.

D. Fair Dealing

Each director should endeavor to deal fairly with the Groups customers, suppliers, competitors and employees. None should take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice.

E. Protection and Proper Use of Company Assets

All directors should endeavor to protect the Groups assets and ensure their efficient use. Therefore, all company assets must be used for legitimate business purposes.

F. Compliance with Laws, Rules and Regulations

Obeying the law, both in letter and in spirit, is the foundation on which the Groups ethical standards are built. All directors must respect and obey all applicable laws, rules and regulations, including insider-trading laws and management transaction disclosure rules.

G. Waivers

Any waivers of the Principles Governing the Conduct of the Board of Directors may be made only by the BoD and all waivers granted to the directors will be disclosed to VGMCs shareholders.

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Operations
W
e produce gold at the cheapest cost and sell at the highest market price. This is Virgin Golds one and only operational philosophy, which is understood by each of Virgin Golds employees. No corporation can go wrong by producing at the lowest cost and selling at the highest price. Although the whole world is generally bullish about gold price hitting USD2,000 an ounce in the medium term; correction in-between rallies can be as much as 30-50% and last for a few years. Corporations that are not ready and do not foresee such possibilities will end up losing a lot of shareholders monies. With odds of only one in 3,000 discoveries leading to mine development, and only 10 percent of the worlds gold deposits containing enough gold to mine, exploration can be tedious and expensive. For every one successful gold mining venture; there are at least 8 that failed. Greedy company owners led innocent investors to lose hundreds of millions every year believing in the gold rush.

For every one successful gold mining venture; there are at least 8 that failed
At Virgin Gold, we are very prudent about production costs. We have been in operation since 1999 and have always been able to generate good profit regardless of gold price because of how we operate. We have never over-committed our resources and never over-estimated gold price rises. Whenever possible, our employees are involved in field operations. At times when we are limited by human capacity and capital resources, we achieve our targets through cooperation, joint ventures, stock swaps, stake holdings and other financial arrangements with local and senior mine operators. For our future operations, we are working our way into gold manufacturing and trading.

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Gold Mining
Owning a gold mine, although potentially very profitable, may also be a source of ruin for many corporations. 95% of gold discoveries worldwide are not economically viable. It takes somewhere between 8 13 years to bring a gold mine from scratch

Exploration

Development

Construction

Stage 1 : Exploration
Duration 3-5 years Objective Prospecting to discover and confirm mineral reserves Process Conduct geological survey/ geochemical sampling to locate and delineate ore deposits Conduct core drilling to determine the ore grade and geologic characteristics Begin collection of environmental and community baseline information

Stage 2 : Development
Duration 3-5 years Objective Design and receive approval for mine construction and operation Process Complete engineering design of the optimal mining method (openpit or underground) and mineral recovery process Complete project feasibility study Obtain necessary construction and operating approvals Obtain land and water rights

Stage 3 : Construction
Duration 2-3 years Objective Construct mining facilities in accordance with approvals, requirements and standards Process Establish a skilled construction team to execute the development plan Construct mine and processing facilities and associated infrastructure, such as roads, power and water lines, and employee facilities

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into production, though this time frame can be halved in certain cases. Regardless of the amount of money that has had to be spent and the resources involved, many ventures have had to be scrapped at some stage due to unsolvable problems.

Mining

Closure / Reclamation

Stage 4 : Mining
Duration 10-35 years is the average lifespan for a gold mine.

Stage 5 : Closure/Reclamation

Gold mining can be politically risky, for many reasons. Gold mines cannot be moved and are very capital intensive, making them very tempting targets for abuse by governments or organized labor. Even though some world regions are considered riskier than others due to different property-rights traditions and current geopolitical events, ultimately every gold mine on earth bears some level of political risk. While gold mines in Africa can be outright confiscated by malicious Marxist governments and rebel militias, those in the West can be shut down just as easily by liberal and proenvironmentalist politicians. Though these unfortunate events are very rare, they are one of the key reasons why it is so vital for Virgin Gold to diversify its investments into different quality gold mines in different global regions. There is no reason to regret the fact that Virgin Gold has yet to own a gold mine outright, even after a decade in this business. It is rather a testimonial of how prudent this corporation is in its decision making and toward fulfilling its responsibility to its shareholders. There is a saying that, a gold mine is just a hole in the ground surrounded by liars. Operating a gold mine incurs considerable costs and more often than not, gold mines with probable reserves turn out to be not as lucrative as portrayed. The acquisition of gold mines with proven reserves has reached a record high; reflecting the record price of bullion gold. If gold price were to drift into a correctional phase, such investment in a gold mine at a peak price would equate to a major loss for many years down the road. Many current profitable gold producers acquired and developed their mines when gold prices were at record lows many years ago. In fact, Virgin Gold is involved in a few gold ventures in both South America and Africa through its onshore investment vehicles. Our subsidiaries also jointly own rights to perform exploration and development work in both continents. We are sure that at the appropriate time and with the right opportunity, Virgin Gold will have outright ownership in some of the better gold mines worldwide.

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South America
South America has a strong, active and prosperous gold mining industry which is internationally recognized. Gold mining culture here pre-dates European colonization and the Incas and Mayas have been mining gold since time immemorial. Several major international resource companies are active across the continent especially in Brazil, Chile, Peru and Argentina with major mining operations and excellent mining support infrastructure. However, gold mining opportunities remain plentiful in Peru, Venezuela, Colombia, Guyana, Suriname and even some remote areas of the upper Amazon region and higher plateaus of the Andes mountain range. Some countries are politically unstable while in some places environmental and human rights issues are of major concern. The lack of transparent government policy is also a hindrance to significant investment in this part of the world. Though opportunities abound, Virgin Gold has been cautious as always. Exploration costs are sky high and the success rate is declining. These days it costs an average of $50 to find each ounce of gold, against $7.50 in todays money half a century ago. To increase its footprint and production capacity in South America, Virgin Gold is employing a strategy of cooperation and joint ventures with local mine operators through its offshore set ups.

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Africa
Africa is a major gold producer, producing up to 30% of global production. South Africa was the leading gold producer for many decades until the Chinese recently took over. The industry is relatively well developed here, mining costs are high and opportunities rare for new ventures. Other areas however, especially Western Africa, offer many opportunities for the discovery and development of new mines. Tanzania and Mali are rapidly becoming Africas newest gold producers with several mines being commissioned or in the final feasibility stages while Ghana is also a major global gold producer. Gold mine production centers on underground and open pit operations in Achaean age greenstone belts in Ghana, Tanzania, Burkina Faso, the Ivory Coast and Zimbabwe. Exploration efforts centered on West as well as East Africa are focused on surface-weathered goldbearing lateritic and saprolitic rock, which is very suitable for relatively economical surface mining methods. Virgin Gold, through its joint ventures with local mining companies, has considerable exposure in this part of the world where mining costs are relatively very low. In some places here, gold can still be produced at a cost of less than USD200/oz, whereas the average global production cost for the past few years has been in the range of USD400/oz and above. Virgin Gold is also currently involved with local mining companies to explore a number of possible mining sites in the African continent with the option for development and production in a few years time. In the African continent, it is vital that we demonstrate our corporate responsibility leadership, especially with regards to environmental issues and developing the community where we plan to operate.

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Investors
I
nvestment is a general concept of putting forward our own money, time and effort, or those of others, in return for appreciation of value. Virgin Gold is an investment vehicle specifically dedicated to generating a good return for shareholders, regardless of gold price. Using stringent production costing, hedging and electronic trading, Virgin Gold can focus on its strategic objective of maximizing net asset value and cash flow per share. By offering new Convertible Preferred Stocks to global investors, Virgin Gold aims to raise more capital to expand its global operations and achieve its objectives earlier.

OUR

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Why Gold

or centuries, gold has been coveted for its unique blend of rarity, beauty, and near indestructibility. Nations have embraced gold as a store of wealth and a medium of international exchange; individuals have sought to possess gold as insurance against the day-to-day uncertainties of paper money. Perhaps more importantly, in the past few years, gold has finally been treated as an asset class that investors must keep as part of their portfolios. Investment in gold can be in the form of physical gold bars (nuggets), paper gold, gold company shares, gold investment funds (mutual fund), gold futures and options.

Monetary authorities such as Central Banks and International Monetary Fund (IMF) have long held gold in their reserves. The public takes confidence from knowing that its Central Bank holds gold - an indestructible asset and one not prone to the inflationary worries overhanging paper money. Some countries give explicit recognition to its support for the domestic currency. Moreover, rating agencies will take comfort from the presence of gold in a countrys reserves. Gold is sometimes described as a non income-earning asset. This is untrue. There is a gold lending market and gold can also be traded to generate profits. There may be an opportunity cost of holding gold but, in a world of low interest rates, this is less than is often thought. The other advantages of gold may well offset any such costs. The opportunity cost of holding gold may be viewed as comparable to an insurance premium. As for private individuals, nobody is suggesting that one should put 100% of their assets into gold investment. In any asset portfolio, it rarely makes sense to have all your eggs in one basket. Obviously the price of gold can fluctuate - but so too do the exchange and interest rates of currencies held in reserves. A strategy of reserve diversification will normally provide a less volatile return than one based on a single asset. Most investment consultants suggest exposure ranging between 10 and 35%. The European Central Bank (ECB), for example, holds around 15-20% (depending on the market value) of its reserve in gold. The question is not why, but rather how and how much.

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What We Offer
Virgin Gold is undertaking an exercise of issuing fresh Convertible Preferred Stocks (CPS) and invites willing investors worldwide to take up this offer. The offer price starts at $0.80/share on 1 January, 2010 and will be increased periodically in accordance with the net asset value of the company. Such offering may be subject to a time limitation and the corporations need for capital. Preferred Stock
Although preferred stock does not offer the same potential for profit as common stock, it is a more stable investment vehicle because it guarantees a regular dividend not directly tied to the market like the price of common stock. This type of stock guarantees dividends, unlike common stock. The other advantage of preferred stock is that preferred stockholders get priority when it comes to dividend payment. In the event of a companys liquidation, preferred stockholders get paid before those owning common stock. In addition, if a company goes bankrupt, preferred stockholders enjoy priority distribution of the companys assets; while holders of common stock do not receive corporate assets unless all preferred stockholders have been compensated. Like common stock, preferred stock represents ownership in a company. However, owners of preferred stock do not get voting rights in the business.

Convertible Preferred Stock

Convertible preferred stock is a type of stock which has a conversion price named at its issuance so that it can be converted to a companys common stock at the set rate. Virgin Gold Convertible Preferred Stock may be converted into Common Stock of the company when the company chooses to launch an Initial Public Offering (IPO) by paying 50% of the price difference between the subscription price of Convertible Preferred Stock and the IPO share price. Virgin Gold Convertible Preferred Stockholders are entitled to a fixed monthly dividend payment as agreed at the time of subscription. Convertible preferred stockholders may also unsubscribe their shares by giving 45 days notice to the company for a full refund of the subscription amount.

Why It Works
For Stockholders
CPS stockholders get fixed monthly shareholder dividends. These are paid in ounces of gold, which are freely convertible into monetary value at the spot gold price. CPS holders may unsubscribe their shares by giving 45 days notice to the company. CPS holders may transfer their shares to another willing buyer at a higher price than their initial subscription price as Virgin Golds share price will increase over time alongside the net asset value of the company. CPS holders are given capital and an interest free account in which to hold paper gold up to 3 times their share subscription value. Another great opportunity to further increases their medium to long term return. CPS holders may convert their shares into Common stock when Virgin Gold chooses to go public. If they choose not to do so, CPS holders will be refunded according to their subscription amount. CPS holders may even enjoy other incentives for referring new shareholders to the company.

For Company
Capital from new shareholders enables the company to engage in bigger and more profitable operations. Higher turnover and liquidity enables the company to reach the IPO stage faster than its original plan. CPS holders will not interfere with the companys operations and decision making, thus giving the current management a free hand to achieve the companys short, medium and long term targets smoothly.

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How It Works
Step 1 of 2
Fill up our online Shareholder Application Form. Once your online application is accepted, you will have a Shareholder ID which you can use to login to your online transaction account using your chosen password. You may start your transaction immediately. All shareholders are required to send us a scanned copy of their International Passport or National Identification card and another document to prove their address, such as a utility bill or bank statement within 30 days of registration or risk suspension of their account until we have received the requested documents.

Step 2 of 2

Subscribe for shares

To subscribe for shares, you must top up your credit account. You may do so by: 1. Requesting a wire transfer to us (minimum amount USD10,000); or 2. Arranging an internal transfer from other shareholders.

Accounts
Every shareholder will have: a gold account, value in ounces (oz) a credit account, value in United States Dollar (USD) a trading account, to hold/trade paper gold positions Gold can be freely converted to dollars at any time by the account holder wish at real-time spot gold conversion rates and vice versa.

Gold Account

Credit Account

Real Time Spot Gold Price

The trading account is for shareholders to hold a gold position for medium to long term gain. Every shareholder is allocated a credit facility equivalent to 3 times their share subscription monetary value to hold a gold position. For example: If John subscribes to 100,000 shares at 1.20/ share = USD360,000; John will be given trading margin USD360,000 to hold/trade paper gold positions. This credit facility comes with zero deposit and zero interest payment. Once a position is closed, gains or losses are credited into the Credit account.

Withdrawal of fund
Shareholder may withdraw monies in their credit account by requesting a wire transfer to their personal bank account anywhere in the world. There will be no wire transfer into 3rd party accounts in compliance with International Anti Money Laundering and Terrorism Law/Act. Minimum withdrawals are set at USD500.

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Risk Factors
There is actually no real risk in subscribing to Virgin Gold Convertible Preferred Stocks (CPS). First of all, CPS can be unsubscribed by giving the company prior notice for a full refund. If any shareholder is dissatisfied with how the company is being run, they may take back their capital investment; thus eliminating any further risk. In any case, CPS holders receive guaranteed monthly dividend payments and provided gold remains at around $1,000/oz, are expected to recover their investment within 1 year. Secondly, even if the gold price plummets, Virgin Gold will not face any difficulty in fulfilling its dividend payment obligation to CPS holders as the dividend is paid in gold. The only difference is that CPS holders might have to wait longer to recover their initial investment because when the gold price is low, the monetary value equivalent is also lower. The only possible risk is of Virgin Gold going bankrupt. However, a company the size of Virgin Gold involved in gold exploration and mining has never been liquidated unless there is massive mismanagement. Our corporate values, governance policy and structure ensure that decisions are evaluated and monitored at almost every level of this corporation. Thus the risk of Virgin Gold ceasing operations can be ruled out. Moreover, Virgin Gold in particular has not been known for taking unnecessary risks. In fact we have proved ourselves to be a rigorous and financially disciplined corporation over the past decade. This corporation has never over-committed itself to projects that might not be profitable or dependent on a high gold price. In the worst scenario of liquidation, CPS holders enjoy priority distribution of the companys assets over common share holders. So the risk of investors losing their investment is seriously negligible. Nevertheless, it is still advisable for any potential investors to take advice from their qualified local financial and legal advisors before subscribing to Virgin Gold Convertible Preferred Stocks.

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CORPORATE
O
ur corporate responsibility principles provide a common language to guide our work and help ensure we continuously generate value for all of our stakeholders namely those who entrust us with their

Responsibility
capital, livelihoods, communities, and environments. These values highlight both the opportunities and responsibilities of our leadership as a global gold exploration, mining and trading company in the 21st century.

Our commitment to corporate responsibility is built on a foundation of strong business performance and financial results.

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Environment
VirginGold takes its responsibility for environmental stewardship very seriously and regards sound environmental management and performance as a key priority at every operation. We exercise utmost vigilance in protecting the environment and seek ways to minimize our environmental footprint wherever we operate; a commitment that is enshrined in our corporate responsibility principles and our corporate Environmental Policy. We will always meet, and where possible exceed, regulatory requirements in our environmental performance. In recent years, in accordance with our corporate Environmental Policy, we have been implementing a company-wide Environment, Health and Safety (EHS) Management System. This system provides the structure, guidelines and standards through which we strive for continuously improved in environmental performance in all our global operations.

Environmental Policy
Environmental leadership in the mining industry is a strategic business objective of Virgin Gold. Maintaining high professional standards for our environmental practices is vital to our long-term sustainable success and forms the foundation of our corporate reputation. Virgin Gold acknowledges its responsibility to manage the environmental effects associated with its operations as we pursue our goal of generating value for our shareholders, our employees and our local communities. Virgin Gold will: Comply with applicable environmental laws and regulations at all times, at all locations, and at all stages of exploration, development, operations and closure Establish and maintain standards, procedures and management controls to ensure that environmental considerations are balanced equally with competing priorities and other key business activities Ensure that all employees and contractors are trained to understand their environmental responsibilities and create an environment conducive to adhering to the Companys policies, procedures and applicable regulations Hold leadership accountable for the environmental performance of our operations and projects, based inherently on the fact that accountability represents the commitment of senior management to provide resources and create an environment that spawns success Reward and recognize behavior that supports environmental stewardship Implement procedures to measure environmental performance, including regular operational audits to verify compliance with the Companys Environmental Policy and applicable regulations Communicate openly with employees, the regulatory community, the public and stakeholders on environmental issues Work proactively with other mining companies, policy makers and the public to define environmental priorities and contribute to the development of responsible laws and regulations to protect the environment Actively engage with credible third parties to develop continuous improvements in our environmental policies and practices Continuously review environmental achievements and technology to share and promote the implementation of best practices Develop and maintain reclamation and closure cost estimates, account for those costs in the Companys business plans, and address the Companys reclamation and closure obligations in a way that demonstrates excellence and establishes industry-wide leadership by example Require that the Environmental, Health and Safety Committee meets on a regular basis in order to monitor performance and confirm that Virgin Gold adheres to these principles

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Environmental Accountability
Environmental protection is the responsibility of every employee Environmental performance is reported to the Boards Environmental, Health and Safety Committee quarterly and to senior corporate management monthly Environmental performance improvement targets are set annually Front-line managers have direct responsibility for environmental performance in their areas The general manager of each mine is accountable for environmental performance at that site At exploration projects and residual properties, the project manager is responsible for ensuring that the EHS Management System in place at that location is consistent with corporate standards and compliant with all applicable laws, regulations and permit requirements

Biodiversity
Protecting biodiversity is one element in the environmental management system associated with the expansion of our physical operations. Environmental stewardship at Virgin Gold includes the identification and assessment of biological communities in the vicinity of our operations. Where there is potential for impacts on those communities, mining operations are designed to avoid, minimize or mitigate their effects. As a standard part of all environmental impact analyses, we evaluate any potential impact on biodiversity, and if such impact occurs, we outline the proposed steps that will be taken to mitigate it. In general, none of our operations will have significant impact on any sensitive listed species.

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Community
Wherever we operate in the world, we are typically engaged in an ongoing dialogue with our communities. Engaging the communities where we operate and maintaining strong, positive relationships with our stakeholders is a cornerstone of Virgin Golds approach to corporate responsibility. For Virgin Gold, community engagement embraces a wide range of activities from stakeholder mapping to consulting with neighbors who are, or may be, affected by our operations; from community outreach to identifying opportunities for mutually beneficial partnerships; and from building local economic capacity to supporting projects aimed at developing social infrastructure. We believe that meaningful engagement is not possible using a one-size-fits-all approach. In some locations, our operations exist in close proximity to thriving communities. In others, our operations are very remote and we are effectively the only or one of the few significant employers in the region. Given the global scope of our business, we recognize the need to be flexible and sensitive to local conditions and populations in engaging our communities and investing in socially-focused initiatives. Yet, despite the local differences we may encounter,

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our principles remain the same: namely to engage stakeholders in a spirit of transparency and good faith, and provide lasting benefits to the communities where we work by supporting sustainable initiatives to develop their social, economic, and institutional fabric. We conduct all of our activities in accordance with accepted standards in terms of the protection and promotion of human rights. We respect the cultural and historical perspectives and rights of those affected by our operations, in particular indigenous peoples. We provide lasting benefits to the communities where we work by supporting sustainable

initiatives to develop their social, economic, and institutional fabric. We recognize that every community is unique and work with our community partners to ensure that our support matches their priorities. Support from the communities in which we operate is critical to our company success. Throughout our operations from the earliest exploration activity through closure we strive to engage and consult with communities and governments that host our operations and other stakeholders with respect and transparency.

Health & Safety

We put people first and our number one priority is the safety of every employee. At Virgin Gold, we believe the health and safety of our work force is more critical to sustaining our business than the amount of ore we mine. By demonstrating our commitment to protecting the welfare of others, we can attract and retain experienced employees, encourage host communities to do business with us, and secure financial investments to explore and develop new regions. We also believe that to achieve our production and financial goals, we must make health and safety a stated value and key priority in everything we do. Our primary objective is to create a culture where people trust it is possible to work free of illness or injury regardless of where a mine is located in the world or the role each worker performs. Safety is a core value to Virgin Gold because while our business priorities may change, our values do not. We firmly believe all occupational illnesses, accidents and injuries are preventable. We have learned that safety is about passion for protecting and caring for our people, and about providing development opportunities through efficient and secure operations. We also recognize that to be considered an industry leader, we must continually improve health and safety systems regardless of our production level.

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Philanthropy
Education is the fundamental basis for the future of every child. Investment in the education of young people represents investment in the development, sustainability, and wealth of a society. The promotion of education is one of United Nations Millennium Development Goals, and Virgin Gold Charity Foundation fully supports this effort. Through partnerships with public institutions and charitable organizations, we optimize our charitable involvement in society. In the end, our company value is mirrored in our ability to successfully contribute to the communities where we operate. Virgin Gold Charity Foundation was set up in 2005 for the sole of purpose of performing philanthropic work.

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People
The success of our business is tied directly to the accomplishments and well-being of our work force of about 500 employees and contractors. Our goals are to build a workplace culture that fosters leaders and to create a workplace that allows every person to thrive, contribute and grow. Our core values include a commitment toteamwork and honest communication. We expect employees to act with integrity, trust and respect. We believe employees and contractors are Virgin Golds ambassadors to the communities in which they work. We are accountable for fair and equitable treatment of all our employees including safeguarding their working conditions and human rights. With global operations, cultural sensitivity is the foundation for our human resources efforts. We adapt practices to local cultures, norms and regulations. We create policies on hiring practices, compensation and overtime that are consistent with the customs in each country where they apply.

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Future Challenges
There are a number of future challenges we need to address in the area of corporate responsibility, especially given the rapid shift in our asset base and growth in our employee population in coming years. Some key challenges include: Finding additional ways to engage our people and seeking new ways to progress toward our goal of zero accidents and zero out-of-compliance environmental events Ensuring that the culture of continuous improvement becomes deeply embedded across our global organization Translating our commitment to corporate responsibility into concrete initiatives, operating metrics and policies Improving our management of environmental issues across the board, including energy efficiency Ensuring stakeholder engagement remains a fundamental and consistent part of how we operate Responding effectively to the changing regulatory framework that is imposing new responsibilities on mining companies worldwide Building and maintaining a viable workforce that is welltrained, well-compensated and well-motivated Ensuring that outstanding corporate citizenship is a Virgin Golds trademark at our new developments as we bring them into production

Meeting these challenges will require the dedication and hard work of every Virgin Gold employee and we are confident we will deliver on our commitments and fulfill our responsibility, as we have always done.

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Contact
Telephone Fax
+ 507 - 8365099 + 507 - 3925420

Our Customer Service department works 24 hours around the clock to give you the best available services.

Admin Office

Virgin Gold Mining Corporation Torre Global Bank Building Calle 50 & Calle 58 Este Piso 31, Oficina 3105 Panama City, Republic of Panama

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142.14 px
8 9

1. Costa del Este 2. Casco Viejo 3. Atalaya Church

4. Albrook Mall 5. Atlapa Convention Center 6. Centenial Bridge

7. Bahai Temple 8. Boquete Chiriqui 9. Amador Causeway

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10. Las Bovedas 11. Mi pueblito 12. El Carme Church

13. Panama Canal 14. Virgin Gold O ce 15. Virgin Gold Logo

16. Virgin Gold CEO desk.