BUILDING SHAREHOLDER VALUE - Targeting a High-Grade Gold Deposit in the Kirkland Lake Camp - Warrior Gold Inc.
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TSX.V: WAR wareaglemining.com
BUILDING SHAREHOLDER VALUE
Targeting a High-Grade Gold Deposit
in the Kirkland Lake Camp
April 2016
CORPORATE PRESENTATION
August 2018
Forward Looking Statements Information set forth in this presentation contains forward-looking statements that are based on assumptions as of the date of this presentation. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. War Eagle Mining Company Inc. (WAR) cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond War’s control. Such factors include, among other things: risks and uncertainties relating to metal prices, changes in planned work resulting from weather, logical, technical or other factors, the possibility that results of work will not fulfill expectations and realize the perceived potential of War’s mineral properties, uncertainties involved in the interpretation of drilling results and other tests, the possibility that required permits may not be obtained in a timely manner or at all, risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, the possibility of cost overruns or unanticipated expenses in work programs, the risk of environmental contamination or damage resulting from the exploration operations, the need to comply with environmental and governmental regulations and the lack of availability of necessary capital, which may not be available to War acceptable to it or at all. War is subject to the specific risks inherent in the mining business as well as general economic and business conditions. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, War undertakes no obligation to publicly update or revise forward- looking information. War does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. For more information on War, readers should refer to War’s website at www.wareaglemining.com. TSX.V: WAR 2
Corporate Profile
“WAR EAGLE IS IN THE BUSINESS OF EXPLORING
FOR PRECIOUS MINERAL RESOURCES
WITH A FOCUS ON NORTHERN ONTARIO.”
TSX.V: WAR 3
Land Position and Nearest Neighbours 2018
Goodfish-Kirana Property
10 km long x 3 km wide
Kirkland Lake Camp production to date: 40+Moz Au*
* Ontario Government, MNDM Office Kirkland Lake, ON Report of Activities
TSX.V: WAR 4
Corporate Profile
Goodfish-Kirana Property Overview
§ Focused in Northern Ontario, Canada
• A strong investment and safe jurisdiction investment environment
§ Abitibi Greenstone Belt
• A world class, established mining camp > 200 Moz Au produced to date
§ Contiguous land package 3,418 ha property that is 10 km long x 3 km wide with
numerous high grade historical gold showings
• Acquisition of Deloye Claims (July 19,2018) adds 121 ha to overall land
package
• Kirana Kirkland historical mine, shafts, underground workings and contiguous,
regional mineralized structures not explored since late 1980’s
§ Goodfish Kirana is 100% owned - patented and staked claims, with property in
good standing to 2026
§ Excellent infrastructure: located 5 km from Kirkland Lake - year round access
§ NI 43-101 completed January 2018
§ Three Phase exploration program underway
• Phase I: drilling, geophysics and mapping of structures completed May 2018
• Follow-up drill hole targeting and prospecting ongoing
TSX.V: WAR 5
Investor Information
§ Champagne Resources & War Eagle - merged Feb 2018 = TSX-V: WAR
§ New Board - combines capital markets and technical teams with proven
track records
§ Strengthened Exploration Strategy for Goodfish Kirana
• Consolidated for the first time the Property has never systematically
explored - and never explored below 200 m depth
• A 34 km2 land package, underexplored with modern technology, provides
for an exciting discovery opportunity in the Kirkland Lake Gold camp
• Recently acquired Deloye Claims have historical and geological
significance
New Capital Structure Post Merger
• Common Shares O/S 44.3M
• Fully Diluted 54M
• Options 3.6M
• Warrants* 6M - expire August 2019
• 52 Week Hi C$0.215 | Low C$0.02
TSX.V: WAR 6
Experienced & Committed Team
Board of Directors Management
§ Paul A. Carroll, QC § Danièle Spethmann, P.Geo.
Executive Chairman President & CEO
§ Malcolm Burke § Salil Dhaumya
§ Danièle Spethmann, P.Geo. Chief Financial Officer
§ Peter Winnell § Tom Neelands, P.Geo.
Chief Geologist
§ Dr. Tom Setterfield, P.Geo.
Independent Geologist
§ Betty Anne Loy
Corporate Secretary
§ Technical Advisors: Bill McGuinty P.Geo., Gary
Grabowski P.Geo., Jim Aitkinson P.Geo.
Biographies can be found in the appendix of this presentation
TSX.V: WAR 7
Newly Acquired Deloye Claims, July 2018
GOODFISH KIRANA
PROPERTY
The Kirana Kirkland Mine, located on
NEW DELOYE CLAIMS
the new Deloye Claims, reported
historical grades of 30 g/t to 145 g/t Au
No Exploration below 120 m.
ü Historical
underground
workings
ü Intersection of
major structures
ü Mineral rights
on 8 claims
ü Surface rights
on 4 claims
ü Exploration
program in
development
TSX.V: WAR 8
Excellent Infrastructure
GOODFISH-KIRANA PROPERTY – 34 km2 ü Paved Roads
ü Railroads
ü Airport
ü High Voltage Power
ü Water
ü Skilled Labour
ü Commercial Centre
ü Social Licenses
ü Ontario Government
MNDM office
NEW DELOYE CLAIMS
TSX.V: WAR 9
Selected Gold Assay Results
Highlighted results include:
2016 Prospecting
• 220 g/t Au
16.46 g/t Au @ 3.20 m • 143.6 g/t Au
• 53.2 g/t Au
99 g/t Au @ 0.61 m
Historical DDH
• 4.05 g/t Au @ 0.6 m
3.42 g/t Au @ 2 m 16.97 g/t Au @ 12.65 m
• 2.74 g/t Au @ 1 m
• 1.10 g/t Au @ 1.0 m
234 g/t Au @ 0.61 m • 2.10 g/t Au, 126.1 Ag, 5.1% Pb @ 0.2m
• 21.0 g/t Au, 31.5 g/t Ag @ 0.4 m
• 6.81 g/t Au @ 0.5 m
• 46.84 g/t Au @ 0.34 m
220 g/t Au • 12.34 g/t Au @ 0.79 m
• 94 g/t Ag @ 0 .30 m
143.6 g/t Au • 2.06 g/t Au @ 0.76 m
Deloye Claims • 15.71 g/t Au @ 1.05 m
53.2 g/t Au
4.46 g/t Au @ 1 m Channel Samples
• 9.14 g/t Au @ 0.65 m
2,275 g/t Au • 2.09 g/t Au @1.52 m
3.10 g/t Au, 495 g/t Ag @ 0.65 m
Grab Samples
• 2.18 g/t Au
§ Two principal mineralized trends: Goodfish and Kirana • 1.41 g/t Au
§ Never explored below 200 m • 5.66 g/t Au
• 14.75 g/t Au
§ Never thoroughly explored with modern exploration techniques
Historical Shaft/Pit
TSX.V: WAR 10Exploration Potential – Under Explored
Deloye Claims
Three Phase Exploration Budget
• Phase I – follow up geophysics and drill test Goodfish/Deloye
• Phase II – property-wide exploration and drilling $2M - $3M
10 km
• Phase III – drill test targets defined by Phase I & II $10M
War Eagle - Never explored below 200 metres
m
7k 200 m
10 km
Kirkland Lake Gold – 7 km and mined to a depth of 2.2 kilometres
25 M oz produced
2.2km
CN Tower 550m
Average Grade SMC 16 - 22 g/t Au Kirkland Lake Gold generalized Longitudinal 2018
11
TSX.V: WARExploration Program
Budgets & Targets
§ Phase I - C$750K + $250K new Deloye Claims
• In progress
§ Phase II - C$2-3M
• Boots on the ground exploration, drilling of Phase I Targets
§ Phase III - C$8-10M
• Drilling to characterize and quantify gold bearing zones
Current/Phase I - Goodfish Patents 2018 and Regional Work
§ Will address the interpreted structures and test historical Goodfish drilling
§ Diamond drilling - 610 m (5 holes) at Goodfish A, B and C zones - complete
§ IP Survey - focus on Goodfish patented claims 7 km completed
§ 3D modelling of Goodfish Data compilation - completed
§ Property Wide Work
• Airborne Mag and VLF Geophysics - 942 km completed
• Structural analysis of geophysical results compiled with historical work to
better define targets for diamond drilling - in progress
• Trenching and drill hole targeting plan - in progress
TSX.V: WAR 12NI 43-101 Identified 10 Areas of Interest
Goodfish DZ
Kirana DZ
Link
Hargreaves
Fidelity Deloye
Focus is on five Principal Areas of Interest + newly acquired Deloye Patents
TSX.V: WAR 13Results Winter Spring 2018 Phase 1 Exploration Goodfish
Left: Diamond drill hole location on Goodfish
Patents with LiDAR base map.
Below: IP chargeability interpretation map with
suggested future (four) drill locations circled
2018 ddh
TSX.V: WAR 14Results Drilling 2018 Phase 1 Exploration Goodfish
Phase I Results – June 6, 2018
§ Successfully addressed the structural
knowledge regarding the Goodfish Kirana
Deformation zones
§ Characterize the mineralization at the
Goodfish Patents - associated with
structure
§ The relationship between the interpreted
LiDAR structures and the Airborne Mag and
VLF anomalies
§ ‘A’ Zone/Goodfish returned values of 1.20
g/t Au over 10.53 m in a halo of 0.87 g/t
Au over 16.0 m
From To Length Au
Hole EOH (m)
(m) (m) (m) (g/t)
GK18-001 66.00 67.00 1.00 1.05 111.00
GK18-002 69.00 69.85 0.85 1.46 99.00
GK18-003 117.97 128.50 10.53 1.20 197.41
Mineralized
112.50 128.50 16.00 0.87
halo
GK18-004 6.47 7.89 1.42 2.89 106.50
GK18-004 58.30 58.80 0.50 6.72
GK18-005 53.63 54.19 0.56 1.19 96.00
TSX.V: WAR 15Next Steps - Boots on the Ground
16.46 g/t Au @ 3.2 m
99 g/t Au @ 0.61 m
12.34 g/t Au @ 0.79 m
16.97 g/t Au @ 12.65 m
Deloye Claims
• Detailed mapping and structural analysis, follow up prospecting, mapping,
trenching, ground geophysics and updated compilation of all data
• Develop exploration program for Deloye Claims
• Raise working capital for completion of Exploration Program Phases I-III
TSX.V: WAR 16Goodfish Next Steps
16.46 g/t Au @ 3.2 m
99 g/t Au @ 0.61 m
12.34 g/t Au @ 0.79 m
16.97 g/t Au @ 12.65 m
Deloye Claims
§ Detailed mapping and structural analysis, follow up prospecting, mapping,
trenching, ground geophysics and updated compilation of all data - 3D
modelling
TSX.V: WAR 17Kirana Break Extension Next Steps
§ 90 km IP to be analyzed and processed
§ Ground truthing of anomalies and trenching
§ Structural mapping and analysis of gold showings
§ Further re-logging and sampling of DDH core
§ Model anomalous gold zones
§ Drilling of new deformation zone
39.78 g/t Au @ 0.6 m (1967)
Deloye Claims Average Grade 16.6 g/t (1936)
§ 6 to 8 km east west regional structure
TSX.V: WAR 18Fidelity Next Steps
17.15 g/t Au @0.91 m (1920)
40.56 g/t Au @ 1 m (2007 )
Grab sample 2,274 g/t Au (2007 )
Deloye Claims
§ Detailed structural mapping of stripped outcrops – understanding the gold
occurrences locally will lead to property wide understanding
§ Compilation and modeling of historical data in local and regional context
§ Drill IP anomaly
TSX.V: WAR 19Case for Investment – Goodfish Kirana Property
§ Goodfish-Kirana located in a World-class Mining Camp
• 10 km of underexplored, contiguous strike length in the
Kirkland Lake Gold Camp where over 40+ Moz Au has
been produced to date
• 100% owned, year round access, patented and staked
ground in good standing 2026+
§ Newly focused strategy with a Technical Management
Team
§ Exciting exploration plan in progress
• Recent results show expanded mineralized zone at Goodfish A
• Goodfish grab sample assay results from Fall 2016 program to 220 g/t Au, 143.6 g/t
Au, 53.2 g/t Au
• Newly acquired Deloye claims include the Kirana Kirkland Mine with reported historical
2018 equivalent grades of: 30 g/t Au to 145 g/t Au – and the intersection of the
regional structures
• Data compilation and targeting exercise with recently acquired airborne geophysics,
LiDAR, geology, structural interpretation and historical mineralization
§ Excellent Infrastructure
• 10 minutes from downtown Kirkland Lake - no onsite camp required
• Access to Northern Ontario grid - power, roads and skilled workers
TSX.V: WAR 20Goodfish-Kirana Property
“…Despite a track record of discovery for more than 100 years,
the exploration of the subsurface has barely been scratched…”
CIBC – Institutional Equity Research – May 19, 2010
The Goodfish-Kirana Project
Excellent discovery potential located
in a well known, world class mining camp.
Kirkland Lake
Kirkland Lake Gold Gold
Inc.
21
TSX.V: WAR Macassa
Macassa GoldGold
MineMine 21Appendix April 2016
Kirkland Lake – Major Mine Historical Gold Production
Production Grade
Gold Mine (oz.) (g/t)
Kerr Addison 10,500,000 8.9
War Eagle’s project is Lakeshore 8,600,000 17.1
Wright Hargraves 4,830,000 16.6
located in a camp with Teck Hughes 3,710,000 13.3
high grade gold Macassa 3,700,000 15.3
deposits. Hol-Holloway 2,360,000 5.3
Kirkland Minerals 1,740,000 12.7
Sylvanite 1,675,000 11.4
Historical major mine Upper Canada 1,400,000 10.3
Ross 995,000 5.0
production and grade, Young Davidson 640,000 3.2
excluding historic Toburn 570,000 16.5
miscellaneous Black Fox (Glimmer) 463,000 3.8
Chesterville 360,000 3.8
production. Omega 215,000 5.0
Bidgood 165,000 9.4
Upper Beaver 141,000 8.3
Source: Ministry of Northern
Development and Mines Hislop 105,000 2.2
Barry Hollinger 77,000 9.9
Ashley 50,100 10.9
McBean 45,900 2.8
Other 558,000
Total 42,900,000 9.6
TSX.V: WAR 23Target Geological Model – High Grade Gold Zone
§ Major structures
§ Sulphides and
other pathfinder
metals present
§ Halos of lower
grade mineral-
ization
§ Core of high
grade gold +/-
silver
§ Alteration halos
§ Quartz-Feldpar
Porphyry host
§ At lithological
interface Preliminary Schematic Geological Section
TSX.V: WAR 24Regional Geology and Gold Occurrences TSX.V: WAR 25
Property Work: Aeromagnetic & VLF-EM TSX.V: WAR 26
First Derivative Magnetics and Historical Au Showings
N 16.46 g/t Au @ 3.2m
21 g/t Au @ 0.4 m
31.5 g/t Au 99 g/t Au @ 0.61 m
16.97 g/t Au @ 12.65 m
3.42 g/t Au @ 2 m
15.71 g/t Au @ 1.05 m
234 g/t Au @ 0.61 m
2.18 g/t Au
4.46 g/t Au @ 1 m
1.41 g/t Au 3.1 g/t Au + 495 g/t Ag @ 0.65 m
2.1 g/t Au + 126 g/t Ag @ 0.2 m
4.05 g/t Au @ 0.6 m
2.06 g/t Au
2,275 g/t Au 1.56 g/t Au @ 0.7 m
46.84 g/t Au @ 0.34 m
14.75 g/t Au
2.06 g/t Au @ 0.76 m
2.74 g/t Au @ 1 m
Drill hole Sample
Grab Sample
Channel Sample
1 km
TSX.V: WAR 27Property Work: LiDAR and Prospecting Results
Prospecting 2016
143.6 g/t Au
220 g/t Au
53.2 g/t Au
TSX.V: WAR 28Infill Sampling Defines Newly Identified +2 km Long Gold Zone
N Kirana Goodfish N IP Chargeability Survey
Property
Goodfish
Zone A K-08-63
Kirkland Lake
Airport K-08-63
Detailed
Map
Area
d
oa
rt R
po
0 2km A ir
Goodfish Lake Creek K-08-70
K-08-69
Newly Identified Pat Zone
K-08-68
K-08-67
K-08-65
K-08-64 K-08-61 K-08-71
K-08-35
K-08-36 K-08-39
K-08-60
K-08-04
K-08-02 K-08-62
K-08-66
d Drillhole Trace
R oa
ort
Assay Results (g/t Au)
rp
Ai 0.03 to 0.1
0.1 to 0.2
dary
ty Boun 0.2 to 0.4
Proper K-08-38
0.4 to 0.8
0 250m K-08-37 0.8 to 1.6
1.6+
TSX.V: WAR 29Board of Directors Paul A. Carroll QC, Executive Chairman - 50 years experience in the mining industry, both as a lawyer and as a director and officer of numerous mining companies engaged in mineral exploration and mining in Canada, the US, Mexico, Central and South America, Africa, China, Russia and Kazakhstan. Current President, Carnarvon Capital Corporation, a corporate management and advisory company. Malcolm Burke, Director - 50 years international business and financial experience in both private and public enterprises. Founder, President and CEO, Primary Ventures Corporation, a private equity company focused on early-stage companies in the natural resource, energy and technology sectors. Prior Senior Advisor and Shareholder, Royal LePage Realty. Malcolm has served as a director and executive committee member for a number of public companies listed on the TSX, NASDAQ and AMEX exchanges. Danièle Spethmann P.Geo., President and CEO - 30+ years experience in northern Ontario, Canada and internationally in Latin American and Botswana including senior geologist and principal on two projects with significant discoveries (Choco 10 – Carolina zone and Fruta del Norte) in Venezuela and in Ecuador. Companies she has worked with include IAMGOLD, African Copper, Aurelian Resources and Bolivar Goldfields. She is a member of the Association of Professional Geoscientists of Ontario, a committee member of the Toronto Geological Discussion Group and Women in Mining Toronto. Peter Winnell, Director - 45+ years experience in the Canadian capital markets focused on fund management and institutional sales including former Vice Chairman, Octagon Capital Corporation, a boutique investment brokerage where he led numerous transactions, with emphasis on the mining sector. TSX.V: WAR 30
Experienced Committed Management Team Danièle Spethmann P.Geo.: President and CEO - 30+ years experience in northern Ontario, Canada and internationally in Latin American and Botswana including senior geologist and principal on two projects with significant discoveries (Choco 10 – Carolina zone and Fruta del Norte) in Venezuela and in Ecuador. Companies she has worked with include IAMGOLD, African Copper, Aurelian Resources and Bolivar Goldfields. She is a member of the Association of Professional Geoscientists of Ontario, a committee member of the Toronto Geological Discussion Group and Women in Mining Toronto. Salil Dhaumya CPA: CFO - Mr. Dhaumya has extensive experience providing financial services to both public and private companies in the areas of finance, administration and public accounting for exploration and private real estate development companies. Currently, he is also the CFO for Canada Rare Earth Corporation, a TSX-Venture listed company. Other companies he has worked with include Pan American Goldfields Ltd., and Aquilini Investment Group. Mr. Dhaumya earned a Honors Bachelor of Commerce from Panjab University, India and is a Canadian designated CPA. Tom Neelands, P.Geo.: Chief Geologist - 40 years experience as an exploration geologist in Canada and Latin America with senior mining companies Teck, Placer Dome, Noranda and IAMGOLD and as a consultant for junior exploration companies Bolivar Goldlfields, Aurelian Resources, African Copper, and several others. Tom has been the principal or senior geologist on three substantial gold discoveries including the Detour Calcite Zone (Ontario), the Carolina Zone at Choco 10 (Venezuela) and Fruta del Norte (Ecuador). Tom completed his BSc at Carleton University and is a member of the Association of Professional Geoscientists Ontario. Betty Anne Loy: Corporate Secretary - +20 years experience as a corporate secretary of various Canadian and US private and public companies, including responsibility for statutory compliance and regulatory filings. She has managed all aspects of corporate and shareholder communications. TSX.V: WAR 31
Consultants & Advisors Dr. Tom Setterfield, P.Geo. - Independent Consulting Geologist – 35+ years experience, including 13 years with Western Mining Corporation. Co-founder and principal, GeoVector Management Inc. and current Vice President, Exploration and Director, Terrax Minerals. Tom is well known in the industry as an expert in iron oxide copper gold, epithermal gold and volcanogenic massive sulphide deposits. He has extensive Archean greenstone belt experience, including in the Timmins, Kirkland Lake, Noranda and Chibougamau camps of the Abitibi Greenstone Belt. Tom completed his MSc on synvolcanic faults in the Noranda area, of Quebec, his Ph.D. in Cambridge, UK and is a member of the Association of Professional Geolscientists of Ontario. Orix Geoscience Inc. - Consultants - Orix Geoscience partners with exploration and mining companies providing front-end geological services. Orix is managed by founder Shastri Ramnath P.Geo., Chair and and Ashley Kirwan, CEO. Shastri has 18 years’ experience in the exploration and mining industry and has worked throughout North and South America as well as Africa. Shastri earned her B.Sc. (Hons) in Geology from The University of Manitoba, a M.Sc. from Rhodes University in South Africa, and an MBA from Athabasca University. Ashley has 11 years experience in the exploration and mining industry and has worked in North and South America. She earned her B.Sc. (Hons) in Geology from Laurentian University and completed a M.Sc. in Mineral Exploration at Laurentian University. James R. Atkinson, M.Sc., P.Geo. - Advisor - 40 years experience as an independent exploration and mine geologist and project manager with both junior and senior mining companies including Noront, Billiton and AMEC. His career has encompassed numerous types of deposits including gold, copper, base metals in Canada and internationally. Jim has been a leader in discoveries of deposits close to the Oyu Tolgoi deposit in Mongolia, as well as the Ring of Fire, Ontario, Canada. He is the former Vice President, Exploration, Americas Silver Corporation, a TSX listed company with producing mines in Idaho and Mexico and Presently the CEO of Talisker Exploration. Jim obtained his B.Sc. from Brock University, his M.Sc. from University of Toronto. He is a member of the Association of Professional Geoscientists of Ontario and the Society of Economic Geology. TSX.V: WAR 32
Advisors Terence J. Bottrill, P.Eng. - Advisor ~50 years experience as a geological consultant in mineral exploration and mine development on every continent except Antarctica. He has held corporate positions including Director of Exploration where he has been responsible for gold, silver and copper discoveries and mines. In the 1980's and 1990's he was very involved in several exploration projects in the Kirkland Lake district, including the discovery of the Amalgamated Kirkland, a deposit currently being drilled by Kirkland Lake Gold Mines. From 2006 through 2012 he was a lecturer in geology at the University of Toronto Mississauga and is currently the Industry Liaison for the Department of Earth Sciences, University of Toronto. Gary Grabowski, P.Geo. – Advisor 35+ years experience in the mining industry and very knowledgeable on the geology and mineral deposits in the Kirkland Lake District. He has visited most operating mines in the Red Lake, Atikokan, Shebandowan, Hemlo, Elliott Lake, and Sudbury, as well as Noranda, Val d’Or and Oka in Quebec, as well as the diamond mines in North West Territories. Bill McGuinty, P.Geo. – Advisor 35+ years experience working in Canada and internationally holding progressive positions as project geologist, exploration manager and country manager. He was the former Vice President, Exploration in South and Central America for Intrepid Mines Ltd and he is the current Vice President, Operations for Globex Mining Enterprises Inc. with principal exploration activities in Quebec and Ontario and President, OTD Exploration Services, a private company dedicated to supplying quality management and governance for the minerals exploration sector. Bill has served as Co-chair of the Advisory Panel to Canada’s Corporate Social Responsibility Counsellor and he is a member of the Ontario Mines Minister’s Mining Act Advisory Committee and the PDAC Corporate Social Responsibility Committee. TSX.V: WAR 33
TSX.V: WAR www.wareaglemining.com
April 2016
danièle spethmann P.Geo. Malcolm Burke Joanne Jobin
President & CEO Director Investor Relations Officer
O +1 647 344 3433 | M +1 416 414 7011 M +1 604 220 2000 M 1+ 647 964 0292
E dspethmann@wareaglemining.com E mburke@wareaglemining.com E info@wareaglemining.comYou can also read
