Cau$on

 Concerning  Forward-­‐Looking  Statements  

This  presenta,on  and  related  documents  may  contain  certain  “forward-­‐looking  statements”  including,  but  not  limited  
to,  statements  rela,ng  to  interpreta,on  of  drilling  results  and  poten,al  mineraliza,on,  future  explora,on  work  at  the  
Sao  Chico,  Hope  BuCe  and  Quartz  Mountain  (Jessie  Page)  Project  and  the  expected  results  of  this  work.  Forward  
looking  statements  are  statements  that  are  not  historical  facts  and  are  subject  to  a  variety  of  risks  and  uncertain,es  
which  could  cause  actual  events  or  results  to  differ  materially  from  those  reflected  in  the  forward-­‐looking  statements,  
including,  without  limita,on:  risks  related  to  fluctua,ons  in  gold  prices;  uncertain,es  related  to  raising  sufficient  
financing  to  fund  the  planned  work  in  a  ,mely  manner  and  on  acceptable  terms;  changes  in  planned  work  resul,ng  
from  weather,  logis,cal,  technical  or  other  factors;  the  possibility  that  results  of  work  will  not  fulfil  expecta,ons  and  
realize  the  perceived  poten,al  of  the  Sao  Chico,  Hope  BuCe  and  Quartz  Mountain  (Jessie  Page)  Project;  uncertain,es  
involved  in  the  interpreta,on  of  drilling  results  and  other  tests;  the  possibility  that  required  permits  may  not  be  
obtained  in  a  ,mely  manner  or  at  all;  risk  of  accidents,  equipment  breakdowns  or  other  unan,cipated  difficul,es  or  
interrup,ons;  the  possibility  of  cost  overruns  or  unan,cipated  expenses  in  the  work  program;  the  risk  of  
environmental  contamina,on  or  damage  resul,ng  from  the  explora,on  opera,ons  at  the  Sao  Chico,  Hope  BuCe  and  
Quartz  Mountain  (Jessie  Page)  Project  Forward-­‐looking  statements  contained  in  this  presenta,on  and  related  
documents  are  based  on  the  beliefs,  es,mates  and  opinions  of  management  on  the  date  the  statements  are  made.  
There  can  be  no  assurance  that  such  statements  will  prove  accurate.  Actual  results  may  differ  materially  from  those  
an,cipated  or  projected.  Kenai  Resources  Ltd.  undertake  no  obliga,on  to  update  these  forward-­‐looking  statements  if  
management's  beliefs,  es,mates  or  opinions,  or  other  factors,  should  change.  
Daniel  Kunz  –  Chairman  
held  key  posi,ons  in  Ivanhoe  Mines  Ltd.(President,  COO  and  Director),  MK  Gold  Company  (Co-­‐Founder,  President,  CEO  and  Director)  
and  Morrison  Knudsen  Corpora,on  (  Vice  President  &  Controller).  

Greg  Starr  –  President,  CEO  and  Director  

Current  Chairman  Gold  Anomaly  Limited,  former  CEO  of  Golden  China  Resources  Corpora,on,  Michelago  Limited  and  Emperor  Mines  
Limited.  

Paul  Larkin  –  Secretary  and  Director  

Corporate  finance,  merchant  banking  and  administra,ve  management  of  public  companies.  On  the  boards  of  a  number  of  public  and  
private  companies  where  he  chairs  both  audit  and  corporate  governance  commiNees.  
Steven  Chi  –  Independent  Director  

Steven  Chi  –  Independent  Director  

B.  SC.  and  M.  Sc.,  Mr.  Chi  is  a  professional  mining  engineer.  Morrison  Knudsen  Company.  

Gerald  Sneddon  –  Independent  Director  

Mr.  Sneddon  is  a  senior  mining  engineer,  Anaconda  Company,  Kaiser  Steel,  Beker  Industries,  Morrison  Knudson  and  Chesapeake  Gold.  

David  Paterson  –  Director  

More  than  35  years  experience  in  corporate  finance,  current  and  past  director  of  several  publicly  listed  companies  in  Hong  Kong,  South  
Korea,  London  and  Canada.  

Neil  Cole  –  VP  Technical  Services  

More  than  30  years  experience  with  gold  projects,  across  20  different  countries.    Former  CEO  of  ASX-­‐listed  gold  producer.  

John  WaG  –  CFO  

A  Chartered  Accountant  with  more  than  37  years  of  business  experience.  Currently  CFO  of  two    
other  Canadian  public  junior  mining  companies,  one  of  which  operates  in  La,n  America.  
 Loca,on  of  major  deposits  of  the  Tapajos  Gold  District  

➤  Tapajos Gold Belt, new region since 1950s >30M ozs production
➤  Late 2010 option/refund Kenai deal on Sao Chico gold project, Tapajos region
➤  High grade low tonnage near production + large exploration potential (1800Ha)
➤  Eldorado increasing stake in region: May 2010 CAD$114M for Tocantinzinho
➤  Excellent gold opportunities identified in Brazil
Ouro Roxo – Amerix TSX-V, Palito – Serabi (AIM) (Eldorado 30%), Tocantinzinho – Eldorado (TSX) Tapajos Gold Region - 100,000 km2
➤  High grades up to 345 g/t gold over 1 metre reported, channel samples
➤  7 sub-parallel near-vertical veins, typically +/- 1 metre wide
➤  Exploration potential along strike and down dip
➤  Grades >1 g/t gold consistent over <70 m strike length, historic workings
➤  Sampling from shallow (<20M) underground drives = hard rock potential
➤  Reasonable target potential of 500,000 high grade contained ounces

SAMPLING  COMPARISONS  FOR    MAIN  VEIN  AO  

Number  
SAMPLE  LOCATION   Au  (g/t)   Ag  (g/t)   Pb  (%)   Zn  (%)   Cu  (%)   Samples  
Underground  channels  in  
drive   15.15   7.8   0.86   0.44   0.034   35  
Surface  sampling  of  ore  piles   19.01   39.3   1.96   1.27   0.11   14  

Channel  sampling  of  ore  piles   17.54   13.2   1.66   0.51   0.067   49  
Average  Grades   17.23   20.1   1.5   0.74   0.07  

NB:    includes  assays  from  "waste"  samples  and  none  of  the  supergene  enriched  upper  5  to  
10m  of  the  vein  
           :    all  samples  originate  from  the  drive    
                     at  a  depth  of  15  to  18  m    
Small 200tpd plant to recover 15g/t for 20k ozs pa, less than $200/oz cash cost. Total cost inc royalty <$500/oz @ $1200/oz gold
Potential for +/-1m wide sub-vertical parallel veins over 1,000m strike - depth not yet tested however
150m initially drill targeted
Down-dip depth potential 200+ metres, from two similar mineralisation gold resources nearby
 Satellite image showing local infrastructure (at left)

Alluvial Workings

View south across the small pit and tailings

dam (below), with village containing field
Location for Gekko Plant
Sao Chico village
office in foreground. Note the garimpeiro
Airstrip workings along strike from the pit, which
would indicate a continuation along strike.
Sao Chico pit and shaft
1,000m

➤  Early stage exploration project, no historic drilling

300m
➤  Extensive historical garimpeiro workings
➤  Existing known mineralisation is small with
previous mining over ~70 metres strike length
➤  Exploration work to include trenching, mapping,
scout drilling program, metallurgical testwork
➤  Program target to demonstrate 250,000 gold ozs

10
 Subvertical quartz-sulphide vein hosted in granodiorite typical
of the mineralisation (lower). Photo taken prior to closure of
shaft

Sampling results from the now closed shaft and

horizontal drive
➤  Both Hope Butte and Quartz Mountain leachable and near surface; partly NI 43-101
➤  Hope Butte – at 130m depth 4.6m 1.04 opt; near surface 0.99g/t over 4.09m, 1.61g/
t over 2.45m, 0.82g/t over 17.45m; earlier reserves estimate, 141,000 gold ozs, prior
to NI 43-101 standards; early drilling to upgrade to NI 43-101
➤  Quartz Mountain - 0.74g/t over 74.7m, 0.71g/t over 13.72m,1.27g/t over 38m, 0.88g/t
over 21.34m; NI 43-101 Indicated Resources, 375,000 equiv gold ozs
➤  Hope Butte RC drill program Q4 2010
➤  Will look for growth in area consolidation and other production opportunities
➤  KAI encouraged by advanced gold pre-development project opportunities in Brazil
➤  KAI Hope Butte and Quartz Mountain potential low
grade, shallow, low strip ratio, leachable projects
➤  Approximately the same 1.5km by 1.5km footprints
as Sleeper, Grassy Mountain and Midas-Ken
Snyder deposits
➤  Peers in the region valued at US$14 per resource
ounce
 Hope Butte, eastern Oregon   1985 – 1992 Chevron 41 RC, Horizon Gold 73 RC for
approx 14,000m drilling to average about 120m depth
  Est. $1.9 M spent to date
  Yamana active projects before NA withdrawal.
  3 mineralized zones 230m,365m and125m long, 5m to
15m wide and to 125m depth
  Main Hill has deep, high grade section (interpreted feeder
zone) – one intercept 4.6m @ 32.3g/t Au
  Est. of size - 5mt @ 0.96 g/t Au for 141k ozs - 1.35:1 strip
ratio – strong heap leach potential
  Next steps – Drilling, Scoping Study, NI 43-101 resources
  1982 - 1990 Freeport 4 RC holes, Homestake 2
holes, Chevron, and Chevron/MK Gold175 RC Quartz Mountain, eastern Oregon
holes for 18,940m drilling 27-258m depth
  Est. $2.65M spent to date
  2 mineralized zones, East and Central, 250m and
180m long, 40m and 15m wide and to 125m
depth
  NI 43-101 16.55m t @ 0.58 Au and 7.67g/t Ag for
375k Au equiv ozs
  Next step – data confirmation then PFS