Corporate Presentation - TSX.V : SIR - Serengeti Resources Inc.
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TSX.V : SIR
Balancing DEVELOPMENT with EXPLORATION
to maximize shareholder value
Corporate Presentation
July 2018
Cautionary Statement
THIS MANAGEMENT PRESENTATION (THE "PRESENTATION") WAS PREPARED AS A SUMMARY OVERVIEW ONLY OF THE CURRENT AFFAIRS OF SERENGETI
RESOURCES INC.(”SERENGETI" OR THE "COMPANY") AND WAS NOT PREPARED FOR THE PURPOSE OF ASSISTING PROSPECTIVE INVESTORS IN MAKING A
DECISION TO INVEST IN SERENGETI. SERENGETI DOES NOT MAKE ANY REPRESENTATION AS TO THE COMPLETENESS, TRUTH OR ACCURACY OF THE
INFORMATION CONTAINED IN THIS PRESENTATION. THE RECIPIENT IS CAUTIONED, THEREFORE, THAT IT IS INAPPROPRIATE TO USE THIS PRESENTATION,
OR ANY PORTION THEREOF, TO ASSIST IN MAKING A DECISION TO INVEST IN SERENGETI.
CONFIDENTIALITY
This Presentation is confidential and the contents are not to be reproduced or distributed to the public or the press. Securities legislation in all provinces and territories
prohibits such unauthorized distribution of information. Each recipient of the information contained in this Presentation will treat such information in a confidential manner and
will not, directly or indirectly, disclose or permit its affiliates or representatives to disclose such information to any other person or reproduce this Presentation in whole or in
part, without the prior written consent of Serengeti.
PRELIMINARY ECONOMIC ASSESSMENT (“PEA”)
The information in this presentation related to the Kwanika Copper/Gold Project was derived from the PEA. Statements in this PEA presentation pertaining to projected
revenues and cash flows, quantity and grade of mineralized materials, estimated mineral prices are forward-looking statements. The Company cautions that this PEA is
preliminary in nature, and is based on technical and economic assumptions which will be evaluated in further studies. The PEA is based on the current (as at January 2017)
Kwanika estimated resource model, which consists of material in both the indicated and inferred classifications. Inferred mineral resources are considered too speculative
geologically to have technical and economic considerations applied to them. The current basis of project information is not sufficient to convert the mineral resources to
mineral reserves, and mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly, there can be no certainty that the results
estimated in the PEA will be realized.
FORWARD-LOOKING INFORMATION This presentation contains “forward-looking statements” within the meaning of applicable Canadian securities regulations. All
statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and other future plans and objectives, are
forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and future events and
actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations as
well as a comprehensive list of risk factors are disclosed in the Company’s documents filed from time to time via SEDAR (www.sedar.com) with the Canadian regulatory
agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and
we do not undertake any obligation to update forward-looking statements should conditions or our estimates change, other than as required by law and readers are further
advised not to place undue reliance on forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are
contained herein, except in accordance with applicable securities laws.
Quality Assurance/Quality Control
The technical information in this presentation has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and
reviewed by the Company's qualified person, David W. Moore, P. Geo., President and CEO of Serengeti Resources Inc.
www.serengetiresources.com | TSX.V: SIR 2
Serengeti Investment Thesis
Create Shareholder Value Through Balanced Exposure to Gold Copper
Mine Development and Discovery-Driven Advanced Exploration
1. Experienced Management
David Moore, President, CEO and Director,
AME BC 2010 Prospector of the Year Award
2. Kwanika Cu-Au Advanced Development Project
PFS Funded by Multinational Trading Partner, POSCO DAEWOO Corp.
3. Exploration Pipeline / Discovery Potential
Main Atty Gold Copper Target is Interpreted to host the Fault Offset of
Centerra Gold’s Kemess East Deposit
4. Pipeline - projects
Significant Multi Target Exploration Portfolio
Including TrUm Cobalt – Nickel Prospect
www.serengetiresources.com | TSX.V: SIR 3
Experienced Management Team
David W. Moore, P. Geo. President, CEO and Director
Former Teck Cominco Senior Exploration Manager – 30 Years
AME BC 2010 Prospector of the Year Award
George Tikkanen, B. Eng. Director
Ex VP-Expl. of Cominco Ltd.
Ex President of Cominco Resources
International Ltd.
Update, Add
Lewis Lawrick, B.Comm. Director Board. Summary
Managing Director of Thorsen-Fordyce
Merchant Capital here, details in
Ian Brown, CPA, CA. Director Appendix
35 years as a financial executive in the
mineral exploration industry
Wendell M. Zerb, P. Geol. Board Advisor
30 years experience in mining, mineral
exploration/development and capital
markets
Quinn Harper, BSc. Chief Geologist
10 years BC porphyry experience
Former Senior Geologist for AuRico Gold and AuRico Metals through delineation of Kemess East
www.serengetiresources.com | TSX.V: SIR 4
Capital Structure, Ownership, Performance
Mgmt,
Issued and Outstanding 89.9 M Insiders,
Options 8.2 M Founders
Retail 33.8%
Warrants 4.0 M 66.2%
Fully Diluted 102.1 M
Serengeti $810k
Cash
Kwanika Copper Corp. $6.0M
TSX-V trend (—) SIR-V (—)
Beaver CK
Rumour Mill Kwanika Drill Results. 0.7% Final JVW Posco
Cu, 0.83 gt/Au over 438 m
Kwanika Deal
2016 Posco $7M WT Exercise
Concluded with Posco
Kwanika Financing Notice
Drilling UDS Target Identified
Completed Deal Signed
Kwanika
Updated Atty Option
Resource & PDAC
Published PEA Results
Kwanika Drilling Start
Milligan W Drill $750K NUB Targeted
Target Identified Financing Search III Staked
SIR Financing
2016 2018
www.serengetiresources.com | TSX.V: SIR 5
BC A Mining Jurisdiction
Overall Low risk, politically stable
jurisdiction
Attractive tax & mining royalty
regime
(e.g. 32-35% combined rate)
Up to 30% government refund on
qualifying exploration
expenditures
Amongst lowest electricity costs in
the world
Good infrastructure and
favourable location with respect to
Pacific Rim markets
Recent acquisitions by major
companies
www.serengetiresources.com | TSX.V: SIR 6
Kwanika – Road, Rail & Power Accessible
www.serengetiresources.com | TSX.V: SIR 7
Kwanika 2017 PEA Economics
Kwanika PEA Project Value: C$191.2M After-tax NPV 7%
SIR 65% ~$124.3M
PDC 35% ~ $66.9 M
PDC has exercised its right to earn 35% with
aggregate $8.2M expenditure on Kwanika
◆ SIR - operator plus 10% management fee (> 50% ownership)
◆ SIR retains METC(30%) credits on qualifying expenditures on first $8.2M
◆ SIR maintains rights to enter into streaming transactions on all precious metals subject to PDC having
certain off-take rights
Disclaimer* see news release November 27th, 2017 for full details on joint venture & Results from PEA announced April 2017. Refer to Disclaimer on Slide 2.
www.serengetiresources.com | TSX.V: SIR 8
Kwanika – Pre-Feasibility Study
Advance Project Towards Production
Target reduced initial CapEx from PEA results
Drop marginal South Zone and focus on high-grade Central Zone
Simplify project development plan
8000m drill program – Q2/Q3 2018
Drill test high-grade targets for resource
expansion
Anticipated Annual Production¹ 50M lbs Cu,
70,000 oz Au (= 180,000 + OZ Au Eq)
$8.2M Strategic Funding Partnership –
POSCO DAEWOO Corp.
¹First 8 years of production
www.serengetiresources.com | TSX.V: SIR 9
Copper Supply Deficit/SIR Re-Rating
Committed Mine Supply Forecast – Copper* Estimated Average P/NAV for Gold and Copper Companies
Image modified after Hamish Sampson, CRU
Source: Exmin Consultants
www.serengetiresources.com | TSX.V: SIR 10Atty - UDS Gold
Copper Project
Main Atty Target is Atty
Interpreted to host the Fault Main Target Area
Offset of Centerra Gold’s 2017 Drilling Area
QSP Zone
Kemess East Deposit Kemess
Underground Kemess
Classic IP Geophysical East
Target and supporting
Geochemistry identified
Area is Underexplored
Several Additional Highly
Prospective Target Areas
6,784 hectares combined
www.serengetiresources.com | TSX.V: SIR 11The Rationale Behind Atty Acquisition
View of Kemess Underground
1km south from Atty
Kemess East
Serengeti Option
Atty
+ Inf: 63.8mt @ 0.31
g/tAu, 0.38% Cu Camp
Kemess Reserves & Resources
KS (Past Production) 3Moz Au, 360Kt Cu
KUg, E (P&P, M&I&I) 5.9Moz Au, 1,200Kt Cu
www.serengetiresources.com | TSX.V: SIR 12The Atty Opportunity
4 sq.km. >150ppm Cu-in-soil
anomaly
Coincident Geophysical
anomalies
Main Area lies in eastern block
of the Kemess East Offset Fault Target Area
Interpreted faulted offset of
North Kemess Mineralized
Corridor
No work since Kemess East
was discovered in 2013
Aiming to find a 4th Kemess
Porphyry Deposit – at ATTY!
Viewing North 2007 Quantec Titan 24 IP
www.serengetiresources.com | TSX.V: SIR 13Generative Exploration
Magnetic anomaly; numerous MINFILEs;
1. Arjay native copper and bornite
2. East Copper New magnetic anomaly in valley bottom
King
Distinct magnetic anomaly; historical IP
3. East Niv survey
4. ET
Distinct magnetic anomaly within Hogem
Batholith; strong Cu anomaly
*
5. Far East – New magnetic/radiometric anomaly;
LaForce strong stream sediment results
6. Notch New magnetic anomaly in valley bottom
Ultramafic plug; strong Co-Ni anomaly,
7. TrUM No known historic exploration
8. West Goldway Strong magnetic anomaly in valley bottom
www.serengetiresources.com | TSX.V: SIR 14Serengeti Investment Case
Experienced Management
Credited with Multiple Mineral Discoveries
Kwanika Copper Gold Development Project
Advancing Partner Funded PFS
Study to Target Higher Margin Options – Optimized Economics
Resource Expansion Potential
Strategic Funding Partnership with Multinational Trader – POSCO DAEWOO
Corp.
Excellent Exposure and Leverage to Copper and Gold Price
Exploration Pipeline / Discovery Potential
Atty-UDS Flagship – Near Drill Ready Target
Interpreted as a Possible Fault Offset of Centerra Gold’s Kemess East
Deposit
Extensive Project Pipeline – Incl TrUM Co-Ni
www.serengetiresources.com | TSX.V: SIR 15David W. Moore
Serengeti Resources Inc.
Suite 520, 800 West Pender St
Vancouver, BC, V6C 2V6
info@serengetiresources.com
(604) 605-1300
Now is the opportune time to invest and participate in
the next exploration/discovery/value cycleAppendices
.
www.serengetiresources.com | TSX.V: SIR 17Experienced Management Team
David W. Moore, P. Geo. President, CEO and Director
Former Teck Cominco Senior Geologist – 30 Years
A key contributor to numerous mineral discoveries including;
Kwanika Cu-Au: co-awarded the AME BC 2010 Prospector of the Year Award
Sopokomil Zn-Pb-Ag, Indonesia
Cerattepe Cu-Au, Turkey
GP4F Kudz Ze Kayah Cu-Zn-Au-Ag, Yukon
Red Dog Zn-Pb, Alaska – the world’s biggest zinc mine
Hackett River Cu-Zn-Ag, Nunavut
Lewis Lawrick, B.Comm. Director
Managing Director of Thorsen-Fordyce Merchant Capital Inc – a private Toronto-based merchant banking company
focused principally in the resource and raw materials sector.
Over 20 years experience as an Officer, Director, and principal investor in numerous junior exploration and
development companies (incl Volta Resources – acquired by B2 Gold; Franconia Minerals- acquired by Duluth
Metals; Normabec Resources – acquired by First Majestic Silver)
Wendell M. Zerb, P. Geol., Board Advisor
30 years combined experience in mining, mineral exploration/development and capital markets
Former Director Research, Metals and Mining, Canaccord Genuity Inc. and Vice President of Research and
Institutional Sales, PI Financial.
Former President & CEO of Exeter Resource Corp, acquired by Goldcorp.
www.serengetiresources.com | TSX.V: SIR 18Kwanika – Mineral Resources
Mineral Resources table
www.serengetiresources.com | TSX.V: SIR 19Kwanika – 2017 PEA Summary
First 8
Category Units LOM
Years
Tonnes Milled Kt 43,201 78,855
Cu % 0.466 0.381
Average Grade Au g/t 0.539 0.357
Ag g/t 1.39 1.40
Cu K lbs 403,462 600,635
Metal
Production Au oz 561,200 676,635
Ag K oz 1,449 2,659
Throughput tpd 15,000
Mine Life Yrs 15
Net Cost of
Production US$ $0.70 $1.20
(C1)* per lb Cu
* Net Direct Cash Cost (C1) is an industry standard measure that represents the cash cost
incurred at each processing stage, from mining through to recoverable metal delivered to
market, less net by-product credits.
Direct Cash Costs cover: Mining, ore freight and milling costs; Mine-site administration and
general expenses; Concentrate freight, smelting and smelter general and administrative costs;
Marketing costs (freight and selling).
Gold, Silver credits contribute 64.3% to revenue in the first eight years or 53.0% LOM at
the Kwanika project.
www.serengetiresources.com | TSX.V: SIR 20Kwanika - Central Pits & Block Caves
Section
6156180N
NSR (CAD $)
100 m
www.serengetiresources.com | TSX.V: SIR 21Kwanika – Room to Grow
2016 drill hole location
K-16-178
Pierce Point*
OPEN TO DEPTH
*Hole drilled perpendicular to section line
500 m
www.serengetiresources.com | TSX.V: SIR 22Kwanika Project Target Timelines
2017 2018 2019 2020 2021 2022 2023
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Investment
Decision
Feasibility
JVC Formed
Construction
Complete
Pre-Feasibility
Environmental Production
Study
PEA & Permitting
Complete
DISCLAIMER:* Results from PEA announced April 2017. Refer to Disclaimer on Slide 2.
www.serengetiresources.com | TSX.V: SIR 23Exploration Pipeline
Large, Diversified Exploration
Portfolio
Targeting Gold, Copper, Nickel
and Cobalt Mineralization
Advanced, Drill Ready Targets
including the Atty/UDS Gold
Copper Prospect
Early Stage Generative
Prospects
Over 53,500 hectares under
management in 17 mineral
properties
www.serengetiresources.com | TSX.V: SIR 24Viewing North
Kemess East Offset Fault
Takla Group
Black Lake
Group
Hazelton Group
Kemess East
~ Footprint @ 370m
Kemess Underground
~ Footprint @ 1150m
www.serengetiresources.com | TSX.V: SIR 25Atty-UDS Targets: Regional Geophysics
Target Area Target Area
22 km
km 22 km
km
www.serengetiresources.com | TSX.V: SIR 26Atty-UDS Targets: IP and Geology
Target Area Target Area
22 km
km 22 km
km
www.serengetiresources.com | TSX.V: SIR 27Atty-UDS Targets: Cu Au Geochemistry
Target Area Target Area
Cu (ppm) Au (ppb)
22 km
km 22 km
km
www.serengetiresources.com | TSX.V: SIR 28Croy-Bloom
Centerra Gold
8
www.serengetiresources.com | TSX.V: SIR 29Croy-Bloom – Results That Need Chasing
www.serengetiresources.com | TSX.V: SIR 30Generative Exploration
GBC Search III Staking
Magnetic anomaly; numerous
1. Arjay 1212 Ha. MINFILEs; native copper and
bornite
2. East Copper 1600 Ha.
New magnetic anomaly in
King valley bottom
Distinct magnetic anomaly;
3. East Niv 943 Ha.
historical IP survey
Distinct magnetic anomaly
4. ET 522 Ha. within Hogem Batholith;
strong Cu anomaly
5. Far East – 775 Ha.
New magnetic/radiometric
anomaly; strong stream
LaForce sediment results
New magnetic anomaly in
6. Notch 288 Ha.
valley bottom
Ultramafic plug; strong Ni-Co
7. TrUM 706 Ha.
anomaly
8. West 1624 Ha.
Strong magnetic anomaly in
Goldway valley bottom
www.serengetiresources.com | TSX.V: SIR 31You can also read
