Management

Rich Munson , , B.A.,J.D., L.L.M. , , CEO, Director

Mr. Munson has been active in the natural resources business for 30 years starting as a natural resources lawyer specializing in taxation. Mr. Munson joined the Energy Fuels companies owned by John R. Adams (Chairman of Sandspring) in 1985 and has worked with Mr. Adams since that time serving as an officer, director and general counsel for the Adams group. Mr. Adams and Mr. Munson formed ETK Inc. in 1999 to acquire the Toroparu Gold-Copper Project that is the key asset of Sandspring. Sandspring acquired ETK Inc. in November of 2009. Mr. Munson has been CEO and a director of Sandspring since that time.

Scott Issel , , MBA , , Chief Financial Officer

Mr. Issel completed a double major in Accounting and Finance from the University of Colorado and an MBA from the University of Notre Dame. He has previously served as an Investment Advisor with Merrill Lynch and as a portfolio manager with a private venture capital group in the United States. Mr. Issel joined Sandspring in May 2009 as the Controller of GoldHeart Investment Holdings Ltd., a subsidiary company of Sandspring and owner of the original Toroparu Gold-Copper Project in Guyana, South America through a Guyanese operating company, ETK Inc. Mr. Isselassisted in the reverse takeover transaction of Sandspring which served as the Company's Qualifying Transaction for listing on the TSX Venture Exchange.

Greg Barnes , , B.Sc., MBA , , Executive Vice-President

Mr. Barnes has been associated with the Toroparu Gold-Copper Project for a number of years as a technical advisor and investor prior to completion of the Qualifying Transaction in November of 2009. Mr. Barnes has been involved in a number of privately held companies specializing in the trading, production, and investment in commodities in developing countries. Mr. Barnes holds a B.Sc. in Geological Sciences from the University of Texas at Austin and a M.Sc. in Economics from the London School of Economics. He is also the CEO and President of Hunter Energy LLC.

L. Werner Claessens , , Lic. Geo., P.Geo. , , Vice President of Exploration

Mr. Claessens has been exploring for gold in West Africa for more than 30 years. He has experienced considerable success as an explorationist of greenstone hosted gold deposits for several European Union funded regional exploration programs and Etruscan Resources Ltd. Mr Claessen’s discoveries include several large greenstone hosted gold deposits such as Sadiola Hill in Burkina Faso, Morila in Mali, and the Samira Hill in Niger. Mr. Claessens holds a Degree in Geological and Mineralogical Sciences from the Catholic University of Leuven (KUL), Leuven, Belgium.

Pascal VanOsta , , , Exploration Manager

Mr. VanOsta has worked extensively throughout sub-Saharan West Africa in Chad, Mali, Burkina Faso, Niger, and in French Guiana for Belgian and European Agencies as was as the UNDP. Mr. VanOsta holds a degree in Geological and Mineralogical Sciences from the University of Brussels (ULB), Brussels, Belgium.

Dennis Kerstiens , , B.Eng. , , Engineering Technical Coordinator

Mr. Kerstiens has a degree in Metallurgical Engineering from the Colorado School of Mines and over thirty years of experience as a senior manager in all phases of open pit mining. Mr. Kerstiens has a solid background in the administration, engineering, production, and maintenance of both large and small open pit mining operations with Kennecott Corporation and other mining companies.

Wes Adams , , , Manager of Investor Relations

Wes Adams resides in Denver, Colorado. Prior to joining Sandspring, he was general foreman of the Toroparu gold project from 2005-2007 and also from 2008-2009. As general foreman, he had overall management of the saprolite and alluvial mining operations for Sandspring’s wholly-owned subsidiary, ETK Inc. including gold refining, smelting, personnel management and infrastructure development which included road construction and maintenance and equipment management. Mr. Adams attended Southern Methodist University.

Toroparu Preliminary Assessment
PEA Highlights
- 5 M oz of gold in preliminary mine plan
- $2.6 billion life of mine operating and $1.7 billion pre-tax free cash flow at three-year trailing average gold price of $1,255/oz. effective December 31, 2011
  - • $750 million cumulative cash flow during first five years of production
  - • Pre-production capital costs of $482 million through development of more capital efficient operation for the first five years of mine life
- Average net cash costs including royalties of $450/oz. gold in first five years of operation and $600/oz. gold over the 14-year mine life
- Pre-tax and post-royalty net present value (discounted at 5%) of $805 million and pre-tax internal rate of return of 21%
  - • After tax net present value (discounted at 5%) of $540 million and after tax internal rate of return of 18%
  - • Life of mine projected production of 4.3 M oz of gold and 262 M lbs of by-product copper
Exploration Upside
Exploration Upside
- Infill drilling in progress for Toroparu resource definition
- Step-out and exploration drilling in progress for resource growth
- Strong potential to make new discoveries of 1000 square kilometer land package
- 300 square kilometer geochemical survey nearly complete
- Exploration team led by team that has made several key discoveries of gold deposits that have led to production in West Africa
- Senior exploration management living in Guyana

Potentially Mineable Resources

Potentially Mineable Portion of the Mineral Resource at an average cut-off grade of 0.54 g/t Au^{1, 2, 3}

Potentially Mineable Classification	Tonnes (000’s)	Au g/t	Au oz (000’s)	Cu %	Cu (M lbs)
Saprolite Measured	2,213	0.73	52	0.05	2
Saprolite Indicated	5,008	0.67	108	0.04	4
Saprolite Measured & Indicated	7,221	0.69	160	0.04	6
Saprolite Inferred	5,240	0.56	94	0.04	5

Fresh Rock Measured	20,567	1.24	820	0.14	64
Fresh Rock Indicated	75,213	1.03	2,491	0.10	166
Fresh Rock Measured & Indicated	95,780	1.07	3,311	0.11	230
Fresh Rock Inferred	13,125	0.97	409	0.07	20

Fresh Rock Stockpile Measured & Indicated	69,899	0.39	876	0.07	108
Fresh Rock Stockpile Inferred	17,537	0.37	209	0.05	19

Total Measured & Indicated	172,900	0.78	4,347	0.09	344
Total Inferred	35,902	0.62	712	0.05	44

¹ The potentially mineable mineral resources are reported at an average cut-off grade of 0.54 g/t gold which is intentionally elevated above an optimized cut-off grade of 0.28 g/t Au)used to determine the in-pit optimized resource estimate for the Property to enhance the economics of production.

² Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues may materially affect the estimate of mineral resources. The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

³ The potentially mineable portion of the mineral resource estimate was prepared by Eugene Puritch, P. Eng (PEO #100014010) of P&E Mining Consultants Inc. Mineral resource estimates reported in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions.

Why Sandspring?
Why Sandspring?
- Rapidly developing the Toroparu Gold Deposit, Guyana’s largest mineral resource
- Working toward Large-scale Commercial Production for 5 M oz potentially mineable resource
  - • Environmental authorization pending
  - • Pre-feasibility study scheduled in Q3 2012
- Potential to add to mineable resources through resource growth and definition drilling
- Highly Accomplished board and management with senior producer experience and large ownership interest
- Operational capacity to support both exploration and development
- Sufficient cash available to continue to advance project