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PATH TO
PRODUCTION TSXV AUL
DEFINE
REFINE
RE-ENGINEER Corporate Presentation
March 2021
CAUTIONARY STATEMENT
This Presentation includes and is based information and statements, other than statements of historical fact, which are “forward-looking information” within the meaning
of applicable securities laws that could cause actual results to differ. Aurelius Minerals (the “Company”) provides forward-looking statements for the purpose of conveying
information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its
nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts,
predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be
achieved. Factors that might cause or contribute to such differences include, but are not limited to, economic conditions globally, the impact of competition, political and
economic developments in the countries in which the Company operates, regulatory developments domestically and internationally and changes in the exploration market
and precious metal prices. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "anticipates",
"targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", variations of such words, and similar expressions. Important factors that could cause actual
results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major
markets for the Company’s businesses, precious metal prices, the Company’s ability to obtain and maintain necessary licences, permits and authorizations for planned
exploration and development of its properties, including necessary authorizations and consents of aboriginal interest holders, proposed work programs on the Company’s
properties, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time.
The Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking
information, however there may be other factors that cause actions, events or 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 materially from those anticipated in such statements. Although the Company believes
that its expectations and the information in this Presentation were based upon reasonable assumptions at the time when they were made, it can give no assurance that
those expectations will be achieved or that the actual results will be as set out in this Presentation. The Company is not making any representation or warranty, expressed
or implied, as to the accuracy, reliability or completeness of the information in the Presentation, and neither the Company nor any of its directors, officers or employees will
have any liability to the reader or any other persons resulting from the reader's use of the information in the Presentation. The Company undertakes no obligation to publicly
update or revise any forward-looking information or statements in the Presentation. The reader should consult any further disclosures the Company may make in
documents it files with the applicable securities regulators.
The Presentation is intended informational purposes only and does not replace independent professional judgment. Statements of fact and opinions expressed are those
of the participants individually. The information is not designed to provide financial, tax planning, accounting, investment, business or legal advice, in any way whatsoever.
The reader should consult with a lawyer, accountant and other professionals in respect of contents hereof. Furthermore, the information in no way should be construed or
interpreted as, or as a part of, an offering or solicitation of securities. Investors are advised to discuss any trading with a registered securities broker or personal finance
professional prior to investing.
The technical information contained in this presentation has been reviewed and approved by Jeremy Niemi, P.Geo., who is a Qualified Person as defined under NI 43-101.
As Vice President, Exploration, Mr. Niemi is not considered independent.
2
WHY INVEST?
Canadian Projects in Aureus Gold Inc. Optionality on High Grade
Nova Scotia and Ontario (100% owned subsidiary) Abitibi Gold project
Nova Scotia is a top ranked Aureus Gold assets in NS have modern 100% owned Mikwam project adjacent
mining jurisdiction with excellent infrastructure and access for year-round to Hecla’s Casa Berardi mine has
access and infrastructure drilling and exploration returned broad, high grade intervals
Abitibi Greenstone Belt is the Significant exploration upside near 2nd Largest claim holder in the Northern
largest greenstone belt in the permitted mine and mill Abitibi Greenstone Belt of Ontario
world (>180 Moz of production)
3
AUREUS GOLD: Investment Thesis
Aureus East is one of
only two Permitted gold
operations in Nova Scotia
Significant current gold
mineral resources across 4
assets:
Indicated: 322,000t @ 7.1g/t, 73,000 oz Au
Indicated: 73,000 oz Inferred:905,000t @ 7.1g/t, 208,000 oz Au
(Forest Hill)
Inferred: 354,200 oz
Extensive resource growth
potential, reserve Inferred: 270,000t @ 6.1g/t, 53,200 oz Au
(Aureus West)
conversion & exploration
upside
Inferred: 439,000t @ 5.9g/t, 93,000 oz Au
(Tangier)
4
AUREUS EAST PROJECT: History
Dufferin Resources Jemma Resources Resource Capital Gold
Gold Discovery 1868 and commenced drilling processed 31.7kT of tailings conducted a PEA,
District Development started in (660m/13 holes) and then for ~1,600oz developed 2560m and took
1880s. Produced ~35-42koz underground development a 43,593t bulk sample for
and mill construction 5,846oz. 2019 Sprott
exercised security.
1868- 1993- 1998- 2005- 2012- 2016-
1986 2020+
1935 1995 2003 2008 2015 2019
Renewed attention at the Newfoundland Goldbar/EnviroGold Ressources Appalaches Aurelius Minerals acquires
Aureus Properties commenced drilling in 1999 dewatered mine in 2012 project. Name change
(Corner Bay Minerals) (1364m/10 holes). Approximately and produced first gold AUREUS GOLD. 10,000m
3,237m/35 holes drilled 850m of development, 55kt mined bar in June 2014. drilling program
for 7,397oz recovered) 1998-2003 Receivership in 2015 commenced. 2020+
5
PATH TO PRODUCTION
AUREUS EAST
RE-
Economic Studies
ENGINEER Last operated in 2018
Significant infrastructure &
historical investment
Room for expansion of historical &
existing mineral inventories
Reserves
REFINE
Phased Drill programs designed
to:
#Define resources along
strike and at depth; and,
DEFINE
#Refine resources into
Resource Growth reserves
#Re-engineer extraction
methodology to maximize
efficiency and operational
synergies
6
INFRASTRUCTURE
7
AUREUS EAST MINE: Phase 1 Drilling Success
Permitted Gold mine and mill in Nova Scotia
2250m of underground workings, dewatered for
year-round access for exploration
Mineralization confirmed open at depth and along
strike with extensive HIGH-GRADE intervals and
visible gold
2020 AUREUS GOLD PHASE 1 PROGRAM HIGHLIGHTS
Hole From To Length (m) Au (g/t)
AE-20-003 29.50 34.00 4.50 6.8
AE-20-003 216.20 222.00 5.80 7.4
Including 216.70 217.00 0.30 113.5
Including 219.90 220.50 0.60 11.1
AE-20-003 271.90 275.15 3.25 6.3
AE-20-004 63.00 73.50 10.50 11.7
Including 63.00 64.00 1.00 118.2
AE-20-004 181.30 197.80 16.50 8.08
AE-20-004 188.80 189.30 0.50 255.0
AE-20-005 67.90 77.50 9.60 14.0
Including 67.90 68.60 0.70 182.4
8
NEW INSIGHTS
Sampling and assaying protocols identified Early results demonstrate presence
two distinct populations of gold: of high-grade saddle reef style
Coarse grained gold within saddle reef veins mineralization within broadly mineralized
Disseminated gold in haloes surrounding reefs sediment layers similar to Toquoy
DRILLING DEEPER THAN ANY KNOWN DRILL
HOLES in the Meguma led to discovery of previously
unknown mineralization at depth
~875m below from surface 99
Mineralized
Zones
Mineralization occurs in broad
zones
Identified Auriferous Quartz
veins with homogenously
distributed coarse gold
Location of regional Harrigan
Cove fault ~50m further west
than previously understood
Deposit remains open laterally
and to depth
10AUREUS WEST: Phase 1 Drilling Success
Open pit target with resource expansion potential
New Information Gleaned Since Acquisition
Confirmed presence of high-grade intercepts within
broadly mineralized intervals (~114m of 0.5 gpt Au)
Presence of previously unknown mineralization in
sediment layers confirmed
Two distinct gold populations identified. Coarse grained
as well as fine grained disseminated mineralization
Aureus West Phase 1 Program
Hole From To Length (m) Au (g/t)
AW-20-001 63.75 66.25 2.5 13.2
Including 64.55 65.07 0.5 46.4
AW-20-001 148.88 153.35 4.47 3.8
Including 150.46 151.08 0.62 14.1
Including 150.46 153.35 2.89 5.6
AW-20-002 183.45 202.40 18.95 1.3
Including 196.15 196.50 0.35 59.8
Including 196.15 198.00 1.85 12.1
11COMPARATIVE ANALYSIS
Criteria Bendigo Aureus Gold
Age of System Cambrian-Ordovician Cambrian-Ordovician
Rock Types Sandstones, Siltstones, Shales Sandstones, Siltstones, Shales
(turbidites) (turbidites)
1. Age of System
Mineralogy Visible gold is common in quartz veins Visible gold is common in quartz veins
with Accessory sulphide minerals with Accessory sulphide minerals
including arsenopyrite, pyrite, sphalerite including arsenopyrite, pyrite, sphalerite
and stibnite and stibnite
Structure Classic Folded Orogenic Saddle Reefs Classic Folded Orogenic Saddle Reefs
Metamorphic Grade Greenschist Greenschist
12PATH TO PRODUCTION
CONFIRM PRESENCE OF HIGH- PHASE 2 DRILL PROGRAM PHASE 3 DRILL PROGRAM
GRADE SADDLES AT DEPTH (EXPLORATION/DISCOVERY) (RESOURCE EXPANSION)
6,000m underground drilling (Aureus East) 20,000m surface and underground 30,000m surface drilling
1,200m surface drilling (Aureus East) drilling (Aureus East/West) (Aureus East/West)
ACQUISITION OF
AUREUS GOLD PROJECT 4,000m surface drilling (Aureus West) Further define new discovery at Delineate and extend
depth and test cross cutting fault- mineralization along strike
Acquisition and exploration Drilling 80% complete
controlled mineralization
permitting Aureus East: 7 holes completed,
Aureus West: 10 Holes completed
Q1 Q3/2020 H1 H2
2020 Q2/2021 2021 2021
Aurelius Completes Previously Aurelius Minerals Discovers New Awaiting Results of Phase 1
Announced Acquisition of Mineralized Zones at Aureus East
Aureus West Gold Property Project - Drills 0.30 Metres at 113.5 We look to continue unlocking multi million-
(May 7, 2020) g/t Gold within 5.80 Metres at 7.4 g/t ounce potential at Aureus East and West. Project
Aurelius Completes Acquisition Gold in Hole AE-20-003 and 0.35
anticipates resource expansion along strike
of Aureus Gold Properties and Metres at 58.3 g/t in Hole AE-20-002
(November 10, 2020) and depth where the deposits remain open
Related C$1,600,000 Equity
Financings with Sprott with potential parallel mineralized systems in
Resource Lending place.
(February 27, 2020)
13AUREUS EAST: Path to Production
Steps to, & Alternate Outlets for, Ore Production
Re-Engineer Ore Supply:
Establish Mine Plan & Mine
M&I Establish 2P Restart Alternate
Resource Reserves Outlets
Indicative timeline for Atlantic project development
Source: St. Barbara Ltd. Investor Briefing
14ADDITIONAL EXPLORATION
Q1 H1 H2
2021 2021 2021
PERMITTING AND TARGETTING INITIAL DRILL PROGRAM PHASE 2 DRILL PROGRAM
Acquiring permits and developing drill 10,000m of drilling across both assets (EXPLORATION/DISCOVERY)
ready targets at Tangier and Forest Hill scheduled to test refined targets outside 10,000m of drilling designed to
of existing resources follow up on results of initial drilling
TANGIER BLOCK MODEL FOREST HILL BLOCK MODEL
15EQUITY STRUCTURE AND CAPITALIZATION
AURELIUS OWNERSHIP
CAPITALIZATION AND BALANCE SHEET (C$)
17% Share Price $0.055
Friends and Family Basic Shares Outstanding 269.68M
Options Outstanding 14.24M
30.3% Warrants Outstanding 91.82M
Other
Basic Market Capitalization $14.83M
*Working Capital ~$3.2M
Total Debt –
TOP 5 SHAREHOLDERS
36.3%
Board and Sprott Inc.
Management Goodman & Co.
12.4% and Insiders
Goodman & Co Northfield Capital
Board and Management
5.0% Sentry Investments
Northfield Capital &
Total Institutional ~40%
Associates
* As at December 31, 2020
16Please contact: Mark NJ Ashcroft, P. Eng., President and CEO Mobile: +1 (416) 666-7025 Office: +1 (416) 304-9095 mark@aureliusminerals.com
APPENDIX
18MANAGEMENT
Mark Ashcroft, P.Eng Jeremy K. Niemi, P. GEO. Germaine Coombs, CPA, CMA
President & Chief Executive Officer VP, Exploration Chief Financial Officer, VP, Finance
30 years of experience in the global mining industry and the Geologist with +20 years of progressively senior experience 20 years of extensive financial and commercial experience
North American and European debt and equity markets. in mining exploration and development. predominantly in the mining and resource industry, successfully
leading finance teams through different stages of project financing,
Mark served as President and Chief Executive Officer and a Director Prior to joining Aurelius Minerals Mr. Niemi successfully increased
construction and operations.
of Stonegate Agricom Ltd. from August 2008 to September 2014. resources and reserves at both GoldQuest and Noront Resources
where he also served as VP, Exploration. Ms. Coombs previously was the Vice President and Chief Financial
Mr. Ashcroft was a member of the Mining and Metals Team at
Officer for Stonegate Agricom Ltd. and was responsible for
Standard Bank’s New York office and Barclays Capital in London Mr. Niemi is a member of the Association of Professional
overseeing its IPO.
before becoming Managing Director and Head of investment banking Geoscientists of Ontario and holds a BSc Honours degree
for a boutique institutional firm in Toronto where he became in Earth Sciences from Laurentian University. Ms. Coombs is a chartered professional accountant and certified
Managing Director and Head of Investment Banking. management accountant and holds a Bachelor of Commerce from
Memorial University of Newfoundland.
As a professional engineer Mark has worked in various operating
roles in North and South America and Australia with Vale
(formerly Inco).
Mark holds his Bachelor of Engineering (Mining) from Laurentian
University and a Master’s of Science (Finance, Regulation and Risk
Management) from the ISMA Centre of the University of Reading.
Lorna McGilvary, LL.B Amandip Singh Billy Grace, P.Eng
Corporate Secretary Vice President, Corporate Development General Manager, Aureus Gold
+30 years of in-house legal and corporate secretarial experience Geologist with +10 years of progressively senior industry and Mining Engineer with 15 years of progressively senior experience at
in the mining sector. capital markets experience. operating mines and as a mine planning consultant.
Previously as Vice President, Secretary and General Counsel for Prior to joining Aurelius Minerals, as the Director of Corporate Prior to joining Aureus Gold Inc. Mr. Grace was the Manager, Mine
Stonegate Agricom Ltd. Was instrumental in its IPO. Development for GT Gold, was involved in raising over $30M dollars Technical Services at Newmont’s Musselwhite Mine in Northern
and attracting a strategic investment by Newmont Mining. Ontario.
Was Assistant Secretary of Thompson Creek Metals Company Inc.
from May 2007 to May 2011 when it was acquired by Centerra Gold Previous to this, Mr. Singh was a mining analyst at a boutique Previous to this Mr. Grace was a member of Golder Associates
in a deal valued at $1.1B USD. mining-focused investment bank in Toronto. Mineral Project Evaluation Group and a Senior Mining Consultant
with Mining Plus Canada.
Ms. MacGillivray received undergraduate degrees from Mount Allison Mr. Singh holds a BSc (Hons) in Geology from the University
University and Queens University and earned her LL.B. from the of Toronto. Mr. Grace holds a B.Eng. in Mineral Resource Engineering from
University of New Brunswick before being called to the bar by The Dalhousie University in Halifax Nova Scotia and is a member
Law Society of Ontario in 1983. Engineers Nova Scotia and Professional Engineers Ontario.
19BOARD OF DIRECTORS
Mark Ashcroft, P. Eng. Randy Turner, P. GEO. Michael G. Leskovec, CPA, CA
President & Chief Executive Officer Chairman Director
30 years of experience in the global mining industry and the Mr. Turner is a professional geologist with over 40 years of Mr. Leskovec is a Chartered Professional Accountant with over
North American and European debt and equity markets. experience in Canadian and International mineral exploration, twenty years of financial experience with publicly listed companies
business and finance. and capital markets. He serves as the Chief Financial Officer of
Mark served as President and Chief Executive Officer and a Director
Nighthawk Gold (TSX:NHK) a resource company focused on
of Stonegate Agricom Ltd. from August 2008 to September 2014. Mr. Turner is currently the President & CEO of Independence Gold.
advancing the Colomac Gold project in the NWT. He is also the CFO
Mr. Turner spent 20 years with Esso Minerals Canada and AGIP
Mr. Ashcroft was a member of the Mining and Metals Team at of Northfield Capital Corporation, where he works with publicly listed
Mining Ltd. exploring for uranium, gold and base metals. As President
Standard Bank’s New York office and Barclays Capital in London companies, assisting with investment analysis and corporate
of Trimin Resources Ltd. he was involved in the development and sale
before becoming Managing Director and Head of investment banking structuring in Canada.
of the McIlvenna Bay copper/zinc deposit in Saskatchewan.
for a boutique institutional firm in Toronto where he became
Prior to this, Mr. Leskovec served as an officer of Gold Eagle Mines
Managing Director and Head of Investment Banking. Mr. Turner’s notable career achievements include guiding Winspear
Ltd., which was involved in the development of the Bruce Channel
Diamonds Inc. from the discovery of the Snap Lake diamond deposit in
As a professional engineer Mark has worked in various operating deposit in Red Lake, Ontario, and was sold to Goldcorp Inc. for
northern Canada through to its sale to De Beers Mining for
roles in North and South America and Australia with Vale $1.5 billion in 2008.
$305 million.
(formerly Inco).
Mr. Leskovec earned his Chartered Professional Accountant,
In 2011, as President of Silver Quest Resources Ltd., Mr. Turner was
Mark holds his Bachelor of Engineering (Mining) from Laurentian Chartered Accountant (CPA, CA) designation while working in the
involved in the acquisition by New Gold Inc. of the Capoose and
University and a Master’s of Science (Finance, Regulation and Risk audit and assurance practice for Smith Nixon LLP
Blackwater Projects for $180 million.
Management) from the ISMA Centre of the University of Reading.
Garett Macdonald, MBA, P.Eng Gilles Arseneau
Director Director
Mr. Macdonald is a professional mining engineer From 2009 to 2013 he served as Vice President of Dr. Arseneau has over 30 years’ experience with mining and
with extensive experience in project development Operations for Rainy River Resources prior to its consulting companies. He has managed both staff and client
and mine operations with over 22 years of industry $310M sale to New Gold Inc. projects. Gilles is technically very strong and has strong business
experience. development skills.
He holds a Master of Business Administration degree
Mr. Macdonald is currently the President & CEO of from Western University’s Ivey Business School and a He has been an independent mineral resource consultant in
Maritime Resources Corp. Bachelor of Engineering (Mining) from Laurentian Vancouver for the past 11 years and was Manager of Geology at
University in Sudbury. the TSX Venture Exchange for 3 years, where he was responsible
Previously, as Vice President of Project
for the review of technical reports and listing applications for
Development for JDS Energy and Mining, he was
mining companies.
responsible for leading the Curraghinalt Feasibility
Study for Dalradian Resources, a high grade, He has worked on deposits in North and South America, China
narrow vein gold project in Northern Ireland, recently and Europe.
acquired by Orion Mine Finance for $537M.
20SUMMARY OF OUTSTANDING SECURITIES
Expiry Date Exercise Price per Share Total No. of Shares
Common Shares 269,667,513
Common Share Purchase Options July 24, 2021 $ 0.065 1,188,600
Common Share Purchase Options Jul 5, 2022 $ 0.120 2,625,000
Common Share Purchase Options Mar 5, 2023 $ 0.080 715,200
Common Share Purchase Options Jan 23, 2024 $ 0.060 4,025,000
Common Share Purchase Options May 8, 2025 $ 0.060 5,690,400
Common Share Purchase Options 14,244,200
Common Share Purchase Warrants Mar 29, 2021 $ 0.060 6,750,000
Common Share Purchase Warrants Apr 1, 2021 $ 0.060 750,000
Common Share Purchase Warrants Apr 16, 2021 $ 0.060 2,000,000
Common Share Purchase Warrants Oct 30, 2021 $ 0.060 3,000,000
Common Share Purchase Warrants Dec 21, 2022 $ 0.160 37,280,478
Common Share Purchase Warrants Jul 17, 2022 $ 0.070 22,565,000
Common Share Purchase Warrants Jul 17, 2022 $ 0.080 19,481,454
Common Share Purchase Warrants 91,826,932
Broker Warrants 5,568,040
21ACQUISITION OF AUREUS GOLD
Terms of transaction
In conjunction with the transaction
Aurelius acquired the Aureus Gold
Sprott Lending also acquired
Properties in consideration for the
Deferred Payments, payable as follows: 25,000,000 Aurelius Shares on a
private placement basis at a price of
US$2,500,000 within 90 days of filing
$0.064 per Aurelius Share (the
a National Instrument 43-101 technical
“Private Placement”), which
report in respect of all or part of the
represents gross proceeds to Aurelius
Aureus Gold Properties that establish
a minimum of 500,000 contained equivalent of C$1,600,000.
ounces of gold in the Measured and Indicated
Mineral Resource Categories; and
US$5,700,000 on the first anniversary of the filing
of a NI 43-101 feasibility study on all or part of the
Aureus Gold Properties
*Aurelius has the right, for a period of three years from the closing of the Acquisition,
to extinguish the Deferred Payments for consideration of US$4,000,000 payable in cash
or in Aurelius Shares to Sprott Lending, less any prior payments made in cash or
Aurelius Shares.
22ROYALTY SUMMARY
Summary of Royalties Payable in Nova Scotia and Ontario
Ontario Assets
Asset Owner Royalty Details
Mikwam Franco-Nevada 0.4824% NSR
Nova Scotia Assets
Mikwam(1) ALX Uranium Corp 0.5% NSR
Asset Owner Royalty Details
Lipton(2) Private Individual 2% NSR
Aureus West(3) Nycon Resources 2% NSR
Tangier St. Barbara 1% NSR
Aureus East Metalla Royalty & 1% NSR
Streaming
1) Buy back option on 0.5% valued at C$1mm
2) Buy back option on 1% valued at C$2.5mm
3) Buy back 1% at US$750k, remaining 1% for US$1mm
23AUREUS GOLD
Tangier Forest Hill Resources
Proximity to Infrastructure Future Exploration Potential
TANGIER
Tangier is located directly on the Based on available information,
highway, providing efficient, low- Forest Hill veins have only been Category Tonnage Grade Contained Au
cost access to transportation modestly explored up – or down –
Inferred 493,000 5.9 93,000
dip from the mine workings providing
Potential to Add High
for future exploration opportunities
Grade Resources in
FOREST HILL
Surrounding Areas High Grade Resources
There are a cluster of grades Category Tonnage Grade Contained Au
Unmodeled, High Grade
discovered to the north-east of the
Resources Strawberry Hill Indicated 322,000 7.1 73,000
main trend
Zone to the east, unmodeled,
Inferred 905,000 7.1 208,000
best intercept 13 g/t over 4.4m. Cheap Resource Growth
Corrected, it may potentially add Mines with high grade resources that
additional high-grade resources remain undrilled. Some samples
appear to be poorly taken above and
below. Checking assays for errors,
availability of certificates and core
confirmation could result in a cheap,
growth opportunity.
24CASE STUDY
MOOSE RIVER CONSOLIDATED (MRC) MINE
$3.50 12.00
Australia’s St Barbara to
Volume Price
acquire Atlantic Gold
$3.00
for C$802M
10.00
Atlantic Gold reports final
assay results from resource
$2.50
Atlantic Gold expansion project and files
8.00
reports first gold 43-101 Technical Report.
Share Price (C$)
production
$2.00
Volume (M)
Appoints new COO
and drawdown of 6.00
first loan for project
$1.50 financing.
Feasibility Study
Completed
4.00
$1.00 Atlantic Gold announces
updated minerals resource
estimate for Beaver Dam
$0.50
Deposit, Nova Scotia 2.00
$0.00 0.00
25RESERVES AND RESOURCES
Location/Project Category Tonnage Grade Contained Au
Nova Scotia, Canada (kT) (g/t) (oz)
Indicated 152 11.9 58,000
Aureus East (historic)* Inferred 434 6.9 96,800
Indicated - - -
Aureus West Inferred 270 6.1 53,200
Indicated - - -
Tangier Inferred 439 5.9 93,000
Indicated 322 7.1 73,000
Forest Hill Inferred 905 7.1 208,000
Abitibi, Ontario, Canada (kT) (g/t) (oz)
Indicated - - -
Mikwam Inferred 1810 2.3 136,000
* 43-101 non compliant historic resources 26EXPLORATION STRATEGY
Saddle Reef Mineralization
Gold hosted in stacked parallel quartz
veins that repeat from surface to over
1km at depth
Optimal drill orientation intersects multiple
saddles and thickest mineralized zones
Recent assay program demonstrates
gold mineralization in wall rock adjacent
to veins
Off-set drill locations from U/G intersect
limbs which vector towards strongly
mineralized saddle areas
Veins follow folded structure and
geology with best grades and thickness’
in saddles
27ABITIBI GREENSTONE BELT
Largest Greenstone Numerous producing and Over 180Moz Au, 35Blbs Zn, 15Blbs Cu,
Belt in the World past producing mines and 400Moz Ag produced to date
28MIKWAM
MIKWAM 3D MINERALIZATION
Strategically located along the structural
trend that cuts through Hecla’s Casa
Berardi mine (3.75Moz Reserves and
Resources), towards Osisko Mining’s
Windfall Lake (5.1Moz indicated
and Inferred)
Recent drill program intersected highest
grade broad intercept of gold in project
history (26.1m @ 7.1g/t Au)
100% of drilling intersected strong
mineralization highlighting
tremendous upside
Current Inferred Resource – 136,000 oz Au,
1.8Mt @ 2.34 gpt open for expansion in
all directions
29MIKWAM GEOLOGY
MIKWAM EXPLORATION CROSS SECTION 2305E (Thickness: 40m) The Mikwam Property lies in the Harricana-Turgeon belt within the
northern portion of the Abitibi greenstone belt, this belt hosts
polymetallic deposits and multimillion-ounce gold deposits such as
the Eagle mine, the Casa-Berardi mine and the Detour mine.
Recent exploration has concentrated on the A8 3200 vein system
which consists of a zone of quartz flooding, silicification, and
sulphidization which lies at or near the contact of chloritic iron
formation and either argillite or conglomerate. Medium to coarse
12.5m @ 0.6 g/t Au
grained cubic pyrite and coarse grained arsenopyrite within a highly
AUL-18-11
26.1m @ 7.1 g/t Au sericitized, quartz flooded matrix comprises the bulk of the
6.5m @ 2.4 g/t Au
Incl. 5m @ 11.8 g/t Au AUL-18-12 mineralized gold zone. The best gold values tend to be associated
Incl. 1m @ 24.3 g/t Au
and 7.2m @ 9.4 g/t Au with pyrite containing vugs.
AUL-18-13 21.5m @ 4.2 g/t Au
Incl. 5m @ 10.5 g/t Au
Mikwam and the Casa Berardi mine are both situated on
11.5m @ 3.0 g/t Au AUL-18-14 Casa Berardi Deformation Zone (CBDZ).
Incl. 5.5m @ 5.2 g/t Au 35.8m @ 1.6 g/t Au
8.1m @ 1.5 g/t Au
11.5m @ 8.2 g/t Au AUL-18-15 Incl. 1m @ 9.9 g/t Au
Incl. 6.5m @ 12.0 g/t Au
6.0m @ 5.3 g/t Au AUL-18-18
Incl. 2m @ 13.9 g/t Au
AUL-18-16
AUL-18-17
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