A Global Resource Investment Company and Merchant Bank

Own a Piece of Our Experience

TSX:AAB

January 2011 A Forbes & Manhattan Group Company

OTCPS:AABVF

TSX:AAB

This presentation contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forwardlooking information includes without limitation, statements regarding the proposed use of the proceeds of the financing, the receipt ofall necessary approvals, the outcome of legal proceedings, the issue of permits, the size and quality of the company’s mineralresources, progress in development of mineral properties, future production and sales volumes, capital and mine production costs,demand and market outlook for metals, future metal prices and treatment and refining charges, the financial results of the companythe future financial or operating performance of the Company, the prospective mineralization of the properties, planned explorationprograms, anticipated production schedule and terms and the availability and likelihood of future acquisitions. Generally, forwardlooking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "isexpected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations ofsuch words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "beachieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause theactual results, level of activity, performance or achievements of the Company to be materially different from those expressed orimplied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical andsocial uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry.Although the Company has attempted to identify important factors that could cause actual results to differ materially from thosecontained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. TheCompany does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This presentation does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. Thesecurities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S.Securities Act and applicable state securities laws or an exemption from such registration is available.

2

TSX:AAB 3

Global resource investment company / merchant bankFocused on private, micro- and small-cap resource companies

Unique, value-added approach to investingActively builds companies to unlock value targeting triple digit returns over 2-5 yearsLeverages Forbes & Manhattan’s infrastructure and deal flow

Broad investment mandate in resource sectorFirst Class Performance (1 Yr=44% - 2 Yr annualized=66% )*Significant exposure to gold in current portfolio Exciting investments in other resource sectors

* Oct. 31, 2010 results

TSX:AAB

~$86MInvestment PortfolioMarket Value (Oct 31/10) ~C$1.00* /share

1.

*Excludes value of two gold royalties

Aberdeen’s Shareholders Own:

*TSXV Index up 17% since October 31st

4

TSX:AAB 5

>$500K Gold Royalties paid quarterly2.

3. Brazil Potash, Potash

Atlantico, TemujinMining, Black Iron, etc.

Private investment upsideTaking public to improve portfolio liquidity/value

4. Ongoing high quality deal flowSupporting next

generation of investments

TSX:AAB

Industry Leading Technical Knowledge& Accomplished Financial Markets Professionals

• Over 25 engineers• Over 25 geologists• Expertise in all

mining, energy & agriculture products

• 5 full-time securities lawyers

• Over 30 people with expertise in– M&A– Investment banking– Corporate

development– Investor relations

• Over 15 accounting and administration staff

TechnicalTeam

LegalTeam

FinancialTeam

Admin / Accounting

6

FinancingMarketing

M&AWorld class team Proven track

record

Actively building companies and creating value

TSX:AAB 7

Merchant BankingShort-term investmentsBridge financingFee incomeShells

Royalty RevenueProvides upside to higher gold pricesBacked by 8 Moz reserves and 25 Moz resources

PrivateMicro-cap

Seed financingsActive role in management & BODSupport financially in early stages

Active Investment+100%

From initial investment

+10% pa

+ Warrants

$2.0M -$2.5M

pa

Targets

TSX:AAB

Source high potential resource deal

“Seed financing”

AAB provides managed risk capital

8

Develop business plan

Build management team/BOD

AAB acts as care taker management

Identify capital requirements

Early-stage (pre-IPO) financing

AAB participates

Execute business plan

GO PUBLIC

Actively creating value for shareholders

-”S.A. Platinum”-Pitchblack

-Temujin Mining

-Black Iron-Potash Atlantico

-Forbes Coal-Aguia Minerals

TSX:AAB 9

Our Active Strategy Lowers The Risk 1. We invest at “seed” level when valuation is at its lowest

• Often we are involved structuring the deal for ourselves• Keep large warrant positions and/or debt for upside and

protection

2. We maintain active role as a company partner• Assist management in early stages• Leverage F&M network to recruit key operational people• Retain board seat(s)

3. We offer diversification• Diversified over number of investments (commodity exposure,

stage of development, etc.)• Maintain financial flexibility for new opportunities while giving

shareholders good upside exposure to our successes.

TSX:AAB 10

Aberdeen’s recent success:

$0.26

$2.24

$0.48Avg Cost$0.20

$1.50

$0.52Avg Cost

Forbes & Manhattan success:

3,750% return in 4 years 4,500% return in 3 years

Desert Sun Mining (Gold) Consolidated Thompson (Iron Ore)

$735M sale price to Yamana Gold Production commenced Q1 2010

$0.14

$1.97

$0.34Avg Cost

TSX:AAB 11

Asset Class

Cash

Public Equities

Warran

ts

Gold & Precious Metals

Base M

etals

Bulks

Public Equities & Warrants By Commodity

*(est.)December 31, 2010

TSX:AAB 12

F&M “Forbes” Coal (FMC-TSX)

Export grade coal from two mines. Excellent infrastructure close to ports Can TRIPLE production in 2-3 years, strong financial position Diverse product lines – both thermal and metallurgical markets Future growth projects in Southern Africa Thermal Coal Prices up 57% in the last 6 months.

TSX:AAB 13

Temujin Mining World class licenses covering 3 of the most

exciting advanced projects on Oyu Tolgoi copper-gold belt in Mongolia

80 km strike length of strong copper and gold anomalies on 6 licenses

Limited drilling, no work done since 2005, vastly improved geopolitical climate

Drilling started August 2010 - $1.5 MM program underway

TSX:AAB 14

Aberdeen’s recent success:

$0.7M

$1.7M

$0.7M

$4.0M

Cost base $0.26

Current Price $0.63

Cost base $0.11

Current Price $0.63

Performance Shares Vested

Performance Shares Vested

Performance Shares Vested

$2.6M

$7.1M

$2.6M

$11.6M

Cost base $1.55

Current Price $4.14

Cost base $0.94

Current Price $4.14

$0.2M $0.8M $0.9M

$4.8M

Cost base $0.10

Current

Current Price $0.53

Cost base $0.10

Current Price $0.53

Current Current

TSX:AAB 15

Valuation (discount) and size are limiting factors to our business modelFor our business model, AUM of $250 MM - $500 MM is optimal

• Establish new fund(s) to raise money at NAV and be paid as an asset manager

• Transition into fund management business

• Work on reducing discount to point where we can raise money for accretive growth

• Continuation of current business model

• Continue to maximize current asset base through steady returns

• Sell royalty assets• Vest performance

warrants

Also will use share buybacks and dividends to further return value to shareholders

TSX:AAB 16

Aberdeen compares favorably with the “better-known” resource investment companies

Sprott ResourceCorp.

Pinetree Capital

• Large size, well financed, brand name mgmt

• 40% in cash and gold• Equity accounting

(private holdings) means revaluation events are rare

• Heavily weighted to agriculture and energy

• Expensive management fees

5-10 positions 20-30 positions 400+ positions

1.2x Shareholders’ Equity (adj. Oct 31) 0.5x SE (est.) 1.0x SE (est. Dec 31)

• Large size, liquidity• Holds many passive

minority positions, marked-to-market quarterly (good visibility)

• Shareholders’ equity tracks TSXV index

• Little to no impact for individual positions

• Small market cap• Combination of liquid

public, private holdings, gold royalties

• ACTIVELY participates with management to optimize value and protect interests

• Big investment wins have a material impact to shareholders

TSX:AAB 17

Portfolio Leveraged To Gold And Junior Market

Private Holdings To Deliver And Unlock Value Amazon Potash to spin off three companies (Aguia, Potash Atlantico,

Brazil Potash) Aguia public, others in process Black Iron (iron ore) IPO in Q1, Sagres merger with private oil co. Temujin now drilling, will continue to incubate for huge potential

Gold holdings have performed exceptionally well, but new investments in iron ore, coal, agri-minerals and energy set to continue the momentum in 2011

Large warrant positions provide additional leverage Performance warrants to deliver huge upside over next 2 years

David SteinPresident & COO416-861-5812dstein@aberdeeninternational.ca

Contact Details

Mike McAllisterInvestor Relations416-309-2134mmcallister@aberdeeninternational.ca

A Forbes & Manhattan Group Company Follow us on Twitter: AberdeenAAB

TSX:AAB 19

TSX:AAB 20

Share Structure Major Shareholders

Management & DirectorsRAB CapitalUS GlobalTD Asset MgmtLuxorSprott Asset Mgmt

17%

Shareholders’ Equity (Q3) = $1.33/share

Share Price (Dec 31, 2010) $0.83 Market Capitalization $72.9M 52 week High/Low $0.83/$0.32

TSX:AABShares Issued & Outstanding 86.8MWarrants (Exercise price $1.00, Expiry Date June 6, 2012)

37.5M

Options 8.5MFully Diluted 132.9M

TSX:AAB 21

George Faught, C.A. Chief Executive Officer

David Stein, CFA, MSc.President & Chief Operating Officer

Ryan PtolomyChief Financial Officer

Advisory Board

Board of Directors

Strong management w ith a DEPTH of experience in the resource sector and a PROVEN track record at building companies from the seed level through to highly successful ex its

Management Team

Bruce HumphreyChairman of Investment Committee

Stan Bharti, P.Eng.Executive Chairman

George Faught, C.A.Director

David Stein, CFA, MSc.Director

Hon. Pierre S. PettigrewDirector

Bernard Wilson, C.A.Director

Mike Hoffman, P.Eng.Director

Jean-Guy Lambert, MBADirector

TSX:AAB 22

Gold Royalties

Investment Portfolio

Cash

1% gold NSR

Buffelsfontein Mine(Simmers & Jack)Mine Waste Solutions(First Uranium)

8 Moz reserves

25 Moz resources

US$2.2MCurrent net over next 12 months

C$86M

Value at (Oct 31, 2010):1. Sulliden Gold2. Crocodile Gold 3. Temujin Mining (PVT)

4. Forbes Coal5. Avion Gold

20other investmentsAgricultureOil & GasMining

C$1-5M

Always evaluating new investments. Typical entry point:

Top 5 holdings

Top 5 holdings≈50% of Portfolio

TSX:AAB 23

GOLD

METALS

BULK COMMODITIES

AGRI MINERALS

ENERGY