EXTORRE GOLD MINES (XG.TSX)

EXTORRE GOLD MINES HIGHLIGHTS

Flagship Cerro Moro Gold-Silver Project – Extorre Gold Mines’ Cerro Moro gold-silver project is located in a mining-friendly province in north-eastern Santa Cruz, Argentina, approximately 70 kilometers southwest of the regional centre and port of Puerto Deseado.

Advancing Toward Production – Permitting in progress on an eight-year high grade mine that will produce 144,400 ounces of gold per annum for the first five years at cash costs of $185 per ounce. Commercial production is scheduled for 2013.

Exploration Upside – With over 30 gold veins identified to date – including Loma Escondida, Gabriela, Esperanza, and Carla. Spectacular high grade intercepts at the Company’s Zoe Discovery. Highlights include 4.84m at 64.6 g/t gold + 7,530 g/t silver (190.1 g/t gold equivalent). Excellent exploration potential for new discoveries at Falcon and Puntado properties.

60% Owned by Institutions, 15% Controlled by Management and Insiders – Extorre’s shareholder base contains a substantial institutional and insider presence.

EXTORRE GOLD MINES RECENT DEVELOPMENTS

High-Grade Results May 16, 2012 Extorre Gold Mines reported high grade drilling results from its Cerro Moro project in Argentina and commented on current market conditions. The emerging gold company noted that it believes that the present market for the company’s shares “does not reflect the underlying value of its high quality asset at Cerro Moro. Extorre also announced that it is evaluating the potential for a staged mine development to take advantage of the substantial cash flows which would be generated from the very high grade mineralization accessible by open pit mining.

Comments on YPF Situation April 19, 2012 Extorre Gold Mines commented on the proposed acquisition by the Argentine Federal Government of 51% of the Argentine oil company, Yacimientos Petroliferos Fiscales (YPF), from Spanish Oil Company Repsol. Extorre noted that “there are significant differences in regulations, tradition, public importance and internal use of products between the oil & gas sector and the mining industry in Argentina. Public policy in one sector is not connected with the other.”

New President and CEO April 16, 2012 Extorre Gold Mines announced that Mr. Trevor Mulroney has been appointed President and Chief Executive Officer of the Company. Mr. Mulroney had been the Chief Operating Officer of Extorre since October 2011. Eric Roth, the former President and CEO, will remain as a director and consultant to the Company. Eric had been promoted from Exeter’s exploration and advanced project team to head up Extorre.

EXTORRE GOLD MINES SHARE PERFORMANCE

XG.TSX HAS DELIVERED

S&P 500Since its March 18, 2010 IPO, Extorre Gold Mines has delivered a return far in excess of the S&P 500 Index.

GoldExtorre has provided investors with considerable leverage to the price of gold as the company continues to intersect high-grade gold at Cerro Morro.

GDXThe Canadian-based gold explorer has significantly outperformed the broader gold stocks sector this year.

GDXJExtorre has outpaced the small- and mid-cap gold stocks ETF by a factor of over 15 as it advances its high-grade gold project in Argentina.

XG.TSX VS BENCHMARKS SINCE 3/18/10 IPO

Premier continues to outperform benchmarks

EXTORRE GOLD MINES IN THE NEWS

LOCATED IN TOP MINING JURISDICTION SANTA CRUZ, ARGENTINA

KEY UPCOMING CATALYSTS

2012
Aggressive Exploration and EIA for Cerro Moro
Extorre’s work program at Cerro Moro will combine two key strategies: advance the high-grade Escondida gold-silver deposit along the path to development and increase the resource base at Cerro Moro. Extorre will aggressively drill extensions to known mineralization and will continue to evaluate new targets.

2012
Drilling at Multiple Targets and In-Fill drilling at Escondida
The high-grade Escondida gold-silver deposit hosts a significant proportion of the reported mineral resource at Cerro Moro and has been drill tested along approximately 2 km of strike and to a depth of 200m. Significant potential still exists for the discovery of extensions to the known mineralization along strike and at depth at Escondida.

2012
High-Grade Zoe Vein
Extorre has achieved several high grade to bonanza grade gold-silver assay results in the Zoe zone at Cerro Moro, which remains the focus for two of the four drill rigs employed on the property.