Corvus Gold — Investor Presentation (November 2018)
28 slides from Corvus Gold's investor presentation, November 2018
Slide 1: Corporate Presentation - November 2018
Corporate Presentation - November 2018
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included her
Slide 3: Corvus Gold Experience
Corvus Gold Experience Management Directors Jeffrey Pontius - CEO & President Catherine Gignac - Chair of Board Ex AngloGold NA Expl. Mgr, Five discoveries Ex Northland Capital, corp. financial & technical skills Carl Brechtel - COO Ex AngloGold Mgr. of New Project Development Steven Aaker - Ex Fran
Slide 4: Share Structure
Share Structure ~Shareholder Distribution Management & Employees 6.4% Institutional 26.0% 28.1% Strategic 18.6% Retail 20.9% High Net Worth Long Term 105,985,945 shares I&O Top Shareholders % 112,651,945 shares fully diluted, No Warrants AngloGold Ashanti Limited 19.9 Tocqueville Asset Managemen
Slide 5: Nevada: A Go-To Mining Jurisdiction
Nevada: A Go-To Mining Jurisdiction Called “The Silver State” but accounts for 72% of U.S gold production 6.2M oz gold produced in 2017 Gold produced: • 1859 - 1994: ~60M oz • 1995 - 2017: ~152M oz Walker Lane Trend includes: Comstock (35M Aueq oz) Round Mountain (20M Au oz) Bullfrog (2.5M Au
Slide 6: Greater Bullfrog Gold District - Setting New Land
Greater Bullfrog Gold District - Setting Major Nevada Gold District • Large caldera associated New Land hydrothermal system (6-16Ma) • Three main gold events over the ~3Ma gold history • 10Ma (Bullfrog) • 11.5Ma (SB/YellowJacket) • 12.5Ma (Mother Lode) • Each event has brought multi +1Moz deposits,
Slide 7: North Bullfrog & Mother Lode Projects
North Bullfrog & Mother Lode Projects 7 Nov 2018 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 8: Corvus Gold, 123 km2 of 100% Owned Mining Claims
Corvus Gold, 123 km2 of 100% Owned Mining Claims • North Bullfrog has large Measured, Indicated & Inferred oxide resource • Numerous exploration targets within large 86.6km2 land package • 15 km from Mother Lode deposit mining plan to have joint production facilities • Mother Lode Project acquired f
Slide 9: Mother Lode-North Bullfrog PEA Production Profile
Mother Lode-North Bullfrog PEA Production Profile NB-MLP Project PEA Annual Gold and Silver Ounce Production 1,000,000 900,000 • 2.6Mozs Aueq 800,000 recoverable over Produced Metal Ounces 700,000 9 years 600,000 500,000 • First 4 yrs averages 400,000 300,000 350,000/yr 347,090 ozs/yr @ a 200,000 ca
Slide 10: NBP-MLP PEA Financial Results
NBP-MLP PEA Financial Results Gold Price Sensitivity Table (USD) Gold Price ($/Oz) Pre-tax Cash Flow IRR Post-tax NPV@5% IRR Payback (Yrs) $1,050 $456M 25% $237M 20% 2.9 Base Case $1,250 Gold $1,250 $970M 45% $586M 38% 2.1 • Pre-tax Cash Flow $1,450 $1,470M 63% $914M 53% 1.7 =$970M with a 45% IRR Si
Slide 11: Combined NBP & MLP – Production Plan Layout
Combined NBP & MLP – Production Plan Layout • Plan would utilize a central mill facility for high-grade oxide & sulfide material • Both projects would operate onsite Run Of Mine heap leach pads for lower grade oxide material • Exploration initiative to expand higher grade mill material for years 5-1
Slide 12: Mother Lode Project
Mother Lode Project
Slide 13: New Mother Lode Maiden Resource Results
New Mother Lode Maiden Resource Results • Ongoing exploration drilling continues to show potential to expand the deposit to the west, north, east and at depth 13 Nov 2018 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 14: Mother Lode Model
Mother Lode Model • Expansion to northwest of high-grade core to the north ML18-083 65.5m @ 1.53 g/t Au along FCF trend Resource • High-grade Expansion Targets Feeder dipping to the west potential repeated MLP deposit • Potential for deeper sed hosted deposit below MLP in Long-section through Mother
Slide 15: MLP - Sulfide Met Progress
MLP - Sulfide Met Progress • Gold occurs as discreet grains of native gold and electrum • ~10% gold reports to gravity concentrate • Gravity/float circuit projecting 80-90% of gold to concentrate • Potential for various sulfide gold recovery methods from either concentrate or possible sulfide heap l
Slide 16: Mother Lode Deposit Expansion Targets
Mother Lode Deposit Expansion Targets Area of Initial Area of Phase 3 Resource Drilling Resource Expansion Drilling Program High-grade Feeder Target N 16 Nov 2018 | Corporate Presentation | TSX: KOR | OTCQX: CORVF View of Mother Lode looking south
Slide 17: Mother Lode Exploration Model
Mother Lode Exploration Model • Large, thick, tabular W E body localized along the Tertiary- Paleozoic unconformity • Major structural bend of the FC fault forming large broken zone focusing gold mineralization • Western Zone feeder to the Mother Lode sediment hosted gold deposit like Meikle- Goldst
Slide 18: Goldstrike Deposit (Meikle Feeder to Post Betze)
Goldstrike Deposit (Meikle Feeder to Post Betze) • Goldstrike mine has a large tabular ore body (Post-Betze) hosted in favorable calcareous rock like the Mother Lode deposit. • Gold rich fluids came up along Post fault forming higher grade deposits like Meikle, similar to the FC fault at Mother Lode
Slide 19: North Bullfrog Project
Slide 20: Bullfrog Regional Setting
Bullfrog Regional Setting North Bullfrog Deposits AngloGold Ashanti Silicon Project AngloGold Ashanti Mother Lode Deposit Coeur Mining Sterling Project 20 Nov 2018 | Corporate Presentation | TSX: KOR | OTCQX: CORVF * Corvus Gold property outlined in blue
Slide 21: North Bullfrog District Scale Epithermal System
North Bullfrog District Scale Epithermal System Development Priority Targets De-Risking Water: Own 1,600 ac/ft water right (will allow expansion) Power: New 16 Mw power line (50% more than required) Access: Adjacent to major highway & extensive quality road access throughout the property Lab
Slide 22: Corvus Gold - Compelling Gold Investment
Corvus Gold - Compelling Gold Investment Strong management team, excellent discovery track record PEA shows near-term potential for MLP-NBP project to recover 2.54Mozs over 9 yrs with ~347Koz/yr for the first 4 years • Pre-tax cash flow of $970M, 45% IRR, initial Capex $424M • After-tax Net Pres
Slide 23: Performance - Effective | Efficient | Exceptional
Performance - Effective | Efficient | Exceptional • Corvus up +200% since start of Phase I, Mother Lode drill program • $62M* raised since Company inception has resulted in: • ~$250M market cap • Discovery cost of ~$17 USD/oz • Multi Year Top 5 performer (TSX Metals & Mining) in 12’, 13’, 17’ & H1 1
Slide 24: Market Valuations and Recent M&A Activity
Market Valuations and Recent M&A Activity • Price/NAV Multiples* • Coeur/Northern Empire 0.8x • Centerra/Aurico Metals 0.8x • Eldorado/Integra 0.9x • Goldcorp/Kaminak 1.0x • Northern Empire property borders Mother Lode • $90M USD transaction • 43-101 Resource of 709k Au ounces (Inferred) • EV/Au Res
Slide 25: Corvus Gold
CORVUS GOLD 700 West Pender Street, Suite 1750 Vancouver, British Columbia Canada, V6C 1G8 Telephone: (604)-638-3246 Toll Free: 1-844-638-3246 www.corvusgold.com
Slide 26: PEA Assumptions & Detail
PEA Assumptions & Detail Life of Mine Production and Financial Detail LOM Production Data (@ $1,250 Au & $15 Ag) LOM - North Bullfrog-Mother Lode Project Financials Heap Leach Mill Estimated Initial Capital (M USD) $424 Mine Life (years) 9 9 Estimated Sustaining Capital (M USD) $60 Process Feed (t/d
Slide 27: Highlighted Exploration Results
Highlighted Exploration Results Drill Hole # Interval (m) Gold (g/t) Drill Hole # Interval (m) Gold (g/t) ML-17-001 59.83 1.95 ML-17-018 82.29 1.11 Incl. 24.73 3.67 Incl. 27.43 1.57 Incl. 11.01 5.78 ML-17-020 96.01 1.35 25.6 2.17 Incl. 22.86 3.08 ML-17-002 58.94 2.77 ML-17-021 30.48 2.54 2.83 10.25
Slide 28: Mother Lode - Robust Maiden Mineral Resource
Mother Lode - Robust Maiden Mineral Resource Constrained by Whittle TM @ USD $1,250 Gold Price per ounce Mill Resource (sulfide) Run of Mine Heap Leach Total Mineral Resource @ 0.63 g/t cut-off grade @ 0.06 g/t cut-off grade Resources Gold (Kozs) Tonnes (Mt) Gold (g/t) Gold (Kozs) Tonnes (Mt) Gold (