Laboum Gold Project – CameroonP r o jec t O verv i ew
Q4 2020
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Q4 2020 2
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Persons who have professional experience in matters relating to investments falling within Article
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“Order”);
or
High net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling
within Article 49(1) of the Order (all such persons together being referred to as “relevant persons”).
Any person for whom this does not apply should not act or rely on this presentation or any of its contents.
Disc la imer
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Discovering the next generation of gold projects in Africa
Run by the team behind Aureus, Afferro and Altus
Laboum Project, Cameroon
▪ Major new gold system identified
▪ Targeting substantial 17.8km shear-hosted gold system
▪ Numerous prospects from soils & geophysics
▪ Rock chip samples include 24.50 g/t and 16.15 g/t Au
Overv iew
2019
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Directors & Management
David Netherway (Director) - Mining Engineer with
over 45 years’ experience. Chairman of Altus and
Canyon, Director of Kore. Former director of
Afcan, Afferro, African Aura, Avesoro, Crusader,
Equigold, Gryphon, Kilo, Orezone and Shield.
Steven Poulton (Director) - Mining Geologist with
over 20 years’ experience. Co-founder of Altus,
Ariana, African Aura [Afferro / Avesoro] and
Stellar Diamonds.
Matthew Grainger (Director) - Mining Geologist
with over 20 years’ experience. Co-founder of
Altus, Ariana and former COO of African Aura
[Afferro / Avesoro].
Val Mitchell (Finance and Administration) - A
wealth of experience in administration, HR,
accounting and project management gained in
senior roles prior to joining Altus.
Will Slater (VP Operations) – Geologist with
over 10 years’ experience in running
programmes across Africa. Involved in the
management of reconnaissance, drilling and
resource stage exploration programmes.
Dr. Tessontsap TEUTSONG (Geologist) – PhD on
the formation of DSO Iron in Southern Cameroon.
5 years exploration experience in gold and iron
ore.
Dr. Richard Belcher (VP Exploration) – Over 17
years’ experience in Africa and Europe on a range
of commodities from grass-roots to resource.
Held management positions with several junior
companies.
Alister Hume (Business Development Manager)
– Experienced investment and business
development manager with over a decade in the
private equity and capital markets in the natural
resources.
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One of the highest GDPs per capita in Sub-Saharan Africa
Average GDP growth of 4.43% since 2003 and 4.1% growth in 20171
Became EITI compliant in 2013 (the Extractive Industries Transparency Initiative)
Stable since formation in 1961, English and French are official languages
Significant FDI for oil and gas industry creating relevant in-country skills base
Attractive mining code: 2.5% royalty; 10% free carry for Government
Cameroon: Overv iew
1. https://tradingeconomics.com/cameroon/gdp-growth-annual
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189km2 licence in central Cameroon, Birimian lithologies with Pan-African overprint
‘Planetary scale’ shear zone with underexplored terranes prospective for gold mineralisation
20km long Au stream sediment anomalies and 2km of discontinuous artisanal workings
>17km strike of gold in soil geochemical anomaly from programme of 2,204 samples
Ground magnetics survey has identified a number of prospects, coincident with soil anomalies
Phase 2 ground magnetics survey and 4,226 sample infill soil sampling programme complete
Priority trenching targets defined from soil sampling and ground magnetics programme
Cameroon: Laboum l icence
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Laboum: Steam sampl ing def ines a w ide 17km long zone
2019
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Laboum: So i l Sampl ing and Structura l in terpretat ion
2019
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Laboum: Ground magnet ics , so i ls + art isanals
2019
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Laboum: D iscovery o f a major go ld bear ing shear zone
2019
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Landou Prospect : Ground magnet ic survey
2019
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Landou Prospect : Quartz ve in d iscovery
2019
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Artisanal miners working sheared sediments at Landou prospect
Numerous, angular / coarse gold grains panned from crushed hard-rock
Workings extend for 1.3km along the main structural trend
Landou Prospect : Art isanal go ld min ing
24.5 g/t Au from quartz vein Gold grains from trench panningQuartz vein system
Sheared metasediment unitMultiple artisinal workings Gold from panning site
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Kalard je Prospect : Ground magnet ic survey
2019
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Ray Prospect : >2km art isanal work ings
Ray NE
Ray SW
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Ray Prospect : Art isanal work ings
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Laboum: 2019-2020 work programme & budget
H1 2019 H2 2019 H1 2020H2 2020 Budget $US
Work programme Detail Q1 Q2 Q3 Q4 Q1 Q2
Exploration
Infill soil sample assay analysis 3,000 samples 50,000
Trench target definition ~14,000m trenching planned
Trenching (Phase 1 - 8,900m) 34 trenches (200m - 400m long) 350,000
Trenching (Phase 2 - 5,000m) 25 trenches (200m long) 200,000
sub total 600,000
Drilling
Drilling (Phase 1) 2,500m (50 holes, DDH + RC) 400,000
Drilling (Phase 2, step out, infill) 5,000m (50 holes, DDH + RC) 650,000
Drilling (Phase 3, infill + ext.) 5,000m (50 holes, DDH + RC) 650,000
Initial metallurgical studies 100,000
sub total 1,800,000
TOTAL 2,400,000
Process 100m x 50m infill soil samples + geophysics data to define trench targets
Further mapping & sampling of high grade quartz veins
Up to 14,000m trenching planned in two phases +12,500m drilling to define initial resources
$US2.4m budget – 18 months
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Laboum: Phase 1 Trench P lan
2019
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Laboum: Ga l lery
Soil sampling
Trenching programme
Sheared metavolcanic (6.85 g/t)
Sulphides in metavolcanic Metagreywacke -2.03 g/t Au
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Major new gold system discovered by Auramin in Cameroon
Multiple prospects within major Pan African crustal shear zone
Extensive artisanal workings over 2km at Tapare Prospect
High grade gold hosted in wide metasedimentary packages + quartz veins & stockwork
Ground magnetics survey highlights structural targets coincident with gold in soil anomalies
3,000 soil sample assay + systematic trench programme to define drill targets (U$600k)
Drilling planned for 2019 to test key targets + define initial resource potential
Summary
14 Station Road
The Orchard Centre
Didcot, OX11 7LL
United Kingdom
Tel: +44 (0) 1235 511 767
Fax: +44 (0) 1235 511 464
E-mail: [email protected]
www.aura-min.com
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Appendix : Cameroonian Min ing Code & Royal t ies
Licence
Type
Royalty Parameters Mining Code Key Terms
Corporate
Tax (%)Govt. Carried
Interest (%)
Precious
metals (%)
Base
metals (%)
Precious
stones (%)
Industrial
minerals (%)Mining code date
Application /
Grant Cost
First
Renewal Fee
Second Renewal
Fee
Exploration 25.0% 10.0% 3.0% 2.5% 8.0% 2.5% 2001
4,000 CFA/km2
($7/km2)
Additional maps and
attestations from the
national institute of
cartography have to be
procured at ~350 000CFA
($565) per licence.
3,000 CFA/km2
($5/km2)
All renewals the same
price.
Licence
Type
Mining Code Key Terms (continued)
Land rent
(local/km2)
Min. expenditure
(local/km2)
Min. Size
(km2)
Max size
(km2)
Reporting
requirements
Initial term
(Years)
Renewals (Numbers
& Years)
Area dropped on
renewal (%)Notes
Exploration
Yr 1: 1,000 CFA
($1.5) to
Yr 8: 8,000 CFA
$(13) Yr 8.
3,000 CFA/km2
($5/km2)None 500
Annual & Bi-
annual3 3 x 2yr 50%
Minimum five-year tax free holiday,
maximum 25% tax rate and 5%
dividends tax, as used by Sundance.