Gosha

Exploration

The 300 sq km Gosha Contract Area is situated 50 km north-west of Gedabek and contains at least nine mineralised zones. Gosha has more than 6 km of exploration adits from the Soviet-era, of which the richest mineralisation zone has a prospect of narrow vein type renegade gold deposit. In addition to this zone, which according to Soviet-era studies contains approximately 3.2 tonnes of gold with average grade of 14.0 g/t, there are several other vein type mineralisation zones. In total, according to these studies, Gosha has a resource of 8 tonnes of gold in the indicated and inferred categories.

Exploration work at Gosha is ongoing aimed at defining new resources and replicating the Company's success at Gedabek with the development of an underground mining operation. To this end, in April 2011, a Notice of Discovery at the Contract Area was accepted by the Government of Azerbaijan. AIMC believes that at least one of the mineralised zones discovered on the licence, Zone 13, has the potential to host a resource that may be amenable to narrow vein, underground mining.