canadian gold exploration and production company · q2 2018 this presentation contains...
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Q 2 2 0 1 8
I N V E S T O R P R E S E N T A T I O N
T S X . V : M T O
Canadian Gold Exploration
and Production Company
Q 2 2 0 1 8
This presentation contains “forward looking statements” concerning the
business , operations and financial performance and condition of
Metanor Resources Inc. (Metanor). Forward-looking statements include,
but are not limited to, statements with respect to the future price of gold,
the estimation of mineral reserves and resources, the realization of
mineral reserves estimates, the timing and amount of estimated future
production, cost of production, capital expenditures, costs and timing of
the development of new deposits, success of exploration activities,
permitting time lines, hedging practices, currency exchange rate
fluctuations, requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation
expenses, timing and possible outcome of pending litigation, title
disputes or claims and limitations on insurance coverage. Generally,
these forward-looking statements can be identified by the use of forward-
looking terminology such as «plans», «expects» or «does not expect»,
«is expected», «budget», «scheduled», «estimates», «forecasts»,
«intends», «anticipates», or «does not anticipate», «believes» or
variations of such words and phrases or statements that certain actions,
events or results «may», «could», «would», «might» or «will be taken»,
«occur» or «be achieved». Forward-looking statements are subject to
known and unknown risks, uncertainties, and other factors that may
cause the actual results, level of activity, performance or achievements of
Metanor to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to: risks related
to the integration of acquisitions; actual results of current exploration
activities; conclusions of economic evaluations; changes in project
parameters as plans continue to be refined; future prices of gold;
possible variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes; delays in obtaining governmental approvals or financing
or in the completion of development or construction activities and other
risks of the mining industry. Although Metanor has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking statement, 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. Metanor does not
undertake to update any forward-looking statements that are included in
this document, except in accordance with applicable securities laws.
All amounts are in CND dollars, unless otherwise stated.
Forward-Looking
Statements
BachelorOnly permitted Mill in the Urban-Barry camp
Modern infrastructure in place
Significant growth potential at depth
Access to newly defined Moroy zone
330,000 oz produced
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A Gold Company with
MULTI-PROJECT GROWTH POTENTIAL
BarryHighly prospective land package in heart of Urban-Barry camp
Newly defined high grade shear zones open in all directions
Bulk sample program planned in Q3-Q4 2018
Portal preparation underway
Multiple drill targets to follow up in 2018
MoroyGeologically comparable to Bachelor mine
Currently being drilled and expanding resources at depth and along strike
Potential to intersect with Bachelor trend and have large dilated zones at depth
Exploration drift from Bachelor mine will intersect first ore in March 2018
TSX VENTURE LISTING TSX.V:MTO
Shares outstanding as of March 25,
2018101.8 M
Options 3.2 M
Warrants 26.2 M
Fully diluted 131.2 M
Market capitalization $66.2 M @ $0.65
Debt $0M
Q 2 2 0 1 8
Capital Structure
WEXFORD CAPITAL LP
Shares: 12.46%
Part Dil: 17.60%
KIRKLAND LAKE GOLD
Shares: 12.05%
Part Dil: 17.05%
E. SPROTT
Shares: 11.91%
Part Dil: 16.13%
Van Eck
Shares: ±6.29%
Part Dil: ±9.14%
LATEST NEWS
2018-01-19: Intersects 14.3 g/t Au over 4.6m at Barry and moves towards UG
bulk sample
2018-01-18: Moroy vein system extended by over 100m to depth with 7.00 g/t
Au over 3.9m
2017-12-28: Completes Placement of $11.4M
2017-11-15: Hits multiple gold-bearing shear zones at Barry; intercepted 14.5
g/t Au over 2m
2017-11-02: Intersects 41.6 g/t Au over 1.2m at Moroy veins system South of
Bachelor mine
2017-10-16: Extension of existing shear zone down to 400m to the East, 27.8
g/t Au over 3m at Barry
Q 2 2 0 1 8
Latest News
Excellent infrastructure, efficient and expandable mill
Stable political environment
Signed agreement with First Nation community
Within promising mining camp (Urban-Barry) adjacent to
Windfall project
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Bachelor and Barry
M I L L L O C A T I O N
B A C H E L O R
7,718HA 7,335HA
B A R R Y
Urban-BarryAn Emerging Camp
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BarryL O C A T I O N A N D P R O P E R T Y P A C K A G E Q 2 2 0 1 8
Barry UG ProjectD R I L L P R O G R A M S F O C U S E D O N
N E W S H E A R Z O N E S
BULK SAMPLE PROGRAM
Metanor will begin to drift into the gold
bearing shear zones in Q1 2018
50 000 tonnes of ore will be shipped to
Bachelor mill later in the year to reconcile
head grade to mine grade
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Barry Cross SectionO P E N A T D E P T H A N D A L O N G S T R I K E – S E C T I O N 8 0 0
Lithology Au g/t
HIGH GRADE SHEAR
ZONES
LOOKING 241 AZIMUTH
SOUTH-WEST
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Barry Open Pit and UGO P E N A T D E P T H A N D A L O N G S T R I K E W I T H N E W S H E A R Z O N E S
Q 2 2 0 1 8
Barry UndergroundC O N C E P T U A L S C H E M A T I C 3 D
Proposed Portal
Multiple High-Grade Shear Zones with newly
defined conjugate Tensional Veins
Proposed Ramp
Sublevel Access Along Strike of Shear Zones
Stope
Tensional Veins
connecting main vertical
shears/feeders
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Barry UG ProjectR A P I D A D V A N C E M E N T O F P R O J E C T S
Q12018Q42017
PERMITTING AND
CONSTRUCTION
Q22018 Q32018 Q42018
RAMP DEVELOPMENT
AND BULK SAMPLE
Q 2 2 0 1 8
BachelorGOLD MINE AND MILL
Q 2 2 0 1 8
Q 2 2 0 1 8BachelorL O C A T I O N A N D P R O P E R T Y P A C K A G E
Hwy
Production ongoing from Bachelor Mine
The development will reach the Moroy
structure in March
4 underground diamond drills are
exploring at depth at Bachelor and
Moroy
1 surface diamond drill explores the
Bachelor camp
BachelorL O N G S E C T I O N L O O K I N G N O R T H – S E C T I O N A - A ’
O’BRIEN
GRANITE
INTRUSIVE
PARALLEL VEIN SYSTEM ZONE
**CURRENTLY EXPLORING**
NEW GOLD ZONE 250 M
BELOW LOWEST LEVEL
A AI
PROPOSED
RAMP
- UNMINED DEFINED STOPES - MINED STOPES
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Bachelor and Moroy Section – Looking EastC U R R E N T U G D R I L L I N G W I T H S I G N I F I C A N T I N T E R C E P T S
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Moroy Long Section – Looking NorthP I E R C E P O I N T S O F C U R R E N T E X P L O R A T I O N D R I L L I N G A L O N G V E I N S E T S
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BachelorG O L D M I N E A N D M I L L
R E C O V E R Y
>96%A V A I L A B I L I T Y
>95%M I L L C A P A C I T Y
800TPD
C U R R E N T S H A F T D E P T H
700m
H O I S T I N G C A P A C I T Y
1,500TPD 1,200m
P O W E R A V A I L A B I L I T Y
>7MVA
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Bachelor Mill
E X P A N D A B L E T O
1,200TPD
F O R L E S S T H A N
$4M
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Bachelor Mill
The Only Mill in
the Heart of the
Urban-Barry Camp
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Exploration PotentialP L A N V I E W W I T H H I S T O R I C A L S H O W I N G S A N D T A R G E T S
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GREG GIBSONInterim Chairman and
CEO
Over 30 years in
mine operations
and management
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Proven Management TeamPASCAL HAMELINPresident and COO
Over 25 years in
mine management
ANIK GENDRONCorp. Secretary
& Legal Advisor
Over 20 years
in corporate &
legal affair
NORMAN PARKERGeneral Manager
of Operations
Over 30 years in mine
operations and management
CLAUDE GOBEILExploration Manager
Over 40 years in
exploration and
mine geology
JAMES N
FAIRBARNChief Financial Officer
Over 35 years
in accounting
Board of DirectorsGREG GIBSONChairman and CEO
Over 30 years in mine
operations and management
PASCAL
HAMELINPresident and COOOver 25 years in
mine management
RON PERRYDirector
Over 30 years of
accounting and finance
AKIBA LEISMANDirector
Executive Chairman of the Board and Interim CEO
of Marlin Gold Mining LTD
ROBERT BRYCEDirector
Over 40 years in corporate
and mine management
TRIS COFFINDirector
Over 45 years in business
management
MICHEL FONTAINEDirector
CEO of Albert Mining
TINA OUELLETTEDirector
Executive Vice President, Human Resources
of Kirkland Lake Gold
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Conclusions
Proven Assets
Experienced Team
Safe Political Jurisdiction
Low Technical Risk
Bachelor generates positive cash-flow
Large Land Position in Urban-Barry Camp
Definition of UG Barry Resource Underway
Exploration Expansion Ongoing at Bachelor,
Moroy, Moss, Barry, Bart and Coniagas
Q 2 2 0 1 8
Conclusions
2872, Sullivan Road, # 2
Val-d’Or, Québec, Canada
J9P 0B9 Canada
Tel: (819) 825 8678
Fax: (819) 825 8224
www.metanor.ca
365, Bay Street, # 400
Toronto, Ontario, Canada
M5H 2V1
Tel: (416) 775 3591