Our primary corporate objective is to become a senior gold producer by developing and growing our reserves and production capabilities. To get there, we'll keep relying on the competitive strengths we have developed since our inception in the early 1990's.

4-Point Strategy for Growth

1. We will continue the aggressive drilling programs at our mines and surrounding areas based on encouraging results:

   Kumtor 2.3 million ounces of gold reserves added in 2005 Promising results at the adjacent Southwest Zone and northern extension

   Boroo 349,000 ounces of gold reserves added in 2005 Extensive surrounding land position

   Gatsuurt Feasibility studies confirmed nearly 1 million ounces of gold reserves Bio-oxidation technology to be used to liberate the gold

2. We will, in partnership with Barrick, continue to expand and define the limits of this property in Nevada, USA:
   • Upgraded approximately 400,000 ounces of inferred resources to indicated resources in 2005 for a total of 1.2 million ounces of indicated resources.
3. We will pursue opportunities to expand our exploration program to other regions within our target areas:
   • Despite the wealth of gold deposits, the Tien Shan belt has been relatively underexplored, largely due to past economic and political constraints.
4. We will pursue selective acquisitions with a focus on advanced-stage projects and properties that are already in operation.