Corvus Gold — Investor Presentation (March 2020)
26 slides from Corvus Gold's investor presentation, March 2020
Slide 1: Corporate Presentation - March 2020
Corporate Presentation - March 2020
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 & Shareholder Delivery
Corvus Gold - Experience & Shareholder Delivery Management Directors Jeffrey Pontius - CEO & President Ron Largent - Chairman Ex AngloGold NA Expl. Mgr, Five discoveries Ex AngloGold Ashanti International COO Carl Brechtel - COO Steven Aaker - Ex Franco Nevada COO, Ex AngloGold Mgr. of New Project D
Slide 4: Share Structure & Value Potential
Share Structure & Value Potential • 123,987,845 shares I&O Top Shareholders % AngloGold Ashanti Limited 19.9 • 132,562,845 FD - No Warrants Sprott Gold Fund (Tocqueville) 19.7 • Treasury ~$22M CDN (1/1/2020) Van Eck Global 6.9 • 12 Mo High-Low CDN $2.70-$1.55 Corvus Management 6.5 Similar setup patt
Slide 5: Nevada: A Go-To Mining Jurisdiction
Nevada: A Go-To Mining Jurisdiction Nevada: • Produced 5.6Mozs gold in 2018, 84% of USA & 35% of all NA production • State gold production decreasing due to increase in difficult, higher cost underground & refractory ore Walker Lane Trend: • Endowment of +80Mozs gold & +700Mozs of silver with substa
Slide 6: Greater Bullfrog Gold District - Setting
Greater Bullfrog Gold District - Setting Greater Bullfrog District • Large epithermal gold systems with unique new sediment hosted gold discovery at Mother Lode KINROSS GOLD • Several new outcropping and blind epithermal gold discoveries within very large alteration systems • District has several Mo
Slide 7: Active District with Multiple Major Producers
Active District with Multiple Major Producers 7 Mar 2020 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 8: NBP-MLP 2018 PEA Production Profile
MLP - NBP 2018 PEA Production Profile NB-MLP Project PEA Annual Gold and Silver Ounce Production • 3.6Mozs gold & 1,000,000 900,000 8Mozs silver mined 800,000 • 2.6Mozs Aueq produced Produced Metal Ounces 700,000 600,000 over 9 yrs 500,000 400,000 350,000/yr • First 4 yrs averages 300,000 347,090 oz
Slide 9: NBP-MLP 2018 PEA Financial Results
NBP-MLP 2018 PEA Financial Results Gold Price Sensitivity Table (USD) Gold Price ($/Oz) Pre-tax Cash Flow IRR Post-tax NPV@5% IRR Payback (Yrs) Base Case $1,250 Gold $1,050 $456M 25% $237M 20% 2.9 $1,250 $970M 45% $586M 38% 2.1 • Pre-tax Cash Flow =$970M $1,450 $1,470M 63% $914M 53% 1.7 with a 45% I
Slide 10: Corvus Gold PEA Cost Comparisons
Corvus Gold PEA Cost Comparisons SSR Coeur Mining Equinox Kinross Gold Parameter Corvus PEA6 Marigold1 Rochester2 Mesquite4 Ft. Knox5 Mining Cost ($/t mined) $ 1.51 $ 1.12 $ 1.45 $ 2.11 $ 1.42 $ 2.053 $ 1.20 Heap Leach $ 1.01 (Fine crushing) $ 1.81 $ 0.86 (ROM) Cost ($/t $ 5.72 $16.74 CIL7 Mill n/a
Slide 11: NBP & MLP Production Plan Optimization Advances
NBP & MLP Production Plan Optimization Advances North Bullfrog Mine • New NBP Phase-1 production plan, heap leach targeting ~125Koz/yr (6-7yrs) with Reduced Capex • YellowJacket gravity scalp, agglomeration and final leach on pad with low-grade Mother Lode Mine • New process option for MLP for BioOx
Slide 12: Two Mines With Fast-track Development Potential
Two Mines With Fast-track Development Potential Development De-Risking Water: Own ~1,800 ac ft. water right (expandable to +2,000 ac ft) Power: New 16 Mw power line (50% more than required) Access: Adjacent to major highway & extensive all weather road access throughout property Labor: Withi
Slide 13: North Bullfrog - Expanding Deposits & New Discoveries
North Bullfrog - Expanding Deposits & New Discoveries N YellowJacket – Sierra Blanca Deposit NB19-454 24.4m @ 1.21 g/t NB19-485 24.4m @ 0.77 g/t • Expanding west under WSB - NB19-469 39.6m @ 0.71 g/t Phase-I Dev Area thin gravel cover NB19-474 21.3m @ 0.68 g/t • Potential for new Sierra high-grade d
Slide 14: Near-term NBP - Resource Expansion Potential
Near-term NBP - Resource Expansion Potential Unexplored WSB target area Unexplored depth potential at higher Phase II NB Pit gold prices Areas for deposit expansion with higher gold price South Deposit cross-section, looking north (Sierra Blanca main) Phase I NB Pit Areas for deposit Phase II NB Pit
Slide 15: Mother Lode Deposit Expansion Targets
Mother Lode Deposit Expansion Targets View of Mother Lode looking south Area of Initial 2018 Res Area Phase 3-4 Resource Expansion Area West Mother Lode Target ML18-083 65.5m @ 1.53 g/t Au ML18-087 47m @ 2.15 g/t Au CIZ &“Guts” Target ML18-093 N 116m @ 1.83 g/t Au North Target ML19-104 126m @ 1.85 g
Slide 16: Mother Lode New CIZ Oxide Target
Mother Lode New CIZ Oxide Target West Mother Lode Target Guts Target Cross-section of new Central Intrusive Zone (CIZ) target, a large intrusion related oxide zone of higher grade gold mineralization located below the Main Mother Lode deposit 16 Mar 2020 | Corporate Presentation | TSX: KOR | OTCQX:
Slide 17: Mother Lode Deep Core Zone Target
Mother Lode Deep Core Zone Target Chargeability Section North of Pit Deep Core Target: • High sulfide-silicified body 200m below main 500m New CIZ Mother Lode deposit Target Deep Core Main MLP • Current modeling Target Deposit outlining a porphyry Resistivity Section North of Pit shaped body with ve
Slide 18: Mother Lode Model
Mother Lode Model ML19-104 ML19-119 126.5m @ 1.85 g/t Au 50.3m @ 1.50 g/t Au inc 9.2m @ 6.7 g/t Au inc 33.5m @ 1.9 g/t Au Sulfide Mother Lode Oxide Deep North Target Projection Mother Lode Guts Target N S Long-Section through Mother Lode resource block model, looking east • North Target: Deposit exp
Slide 19: Greater Bullfrog District Potential
Greater Bullfrog District Potential Conceptual District Potential North Bullfrog I. Mother Lode Belt: Deposits Expansion of the Mother AngloGold Lode deposit to and the Rhyolite Project AngloGold discovery of an additional Silicon Project Mother Lode type Deposit KINROSS in the Belt II. Silicon Cald
Slide 20: Corvus Gold - Compelling Gold Investment
Corvus Gold - Compelling Gold Investment Proven Management which continues to: • Maximize shareholder value through discovery • Enhancing project development options and strategic transaction value Premier Location: • Large District Scale Nevada Land package with numerous gold discoveries • 100%
Slide 21: Corvus Gold Value/Investment Proposition
Corvus Gold Value/Investment Proposition Value Drivers over the next 12 months Q1 2020 “New Discovery” results and follow-up MLP drilling Q2 2020 Expansion of Mother Lode and North Bullfrog resources base Q3 2020 Positive results from ongoing optimization work, updated PEA Q4 2020 Initiate P
Slide 22: 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 23: Corvus Gold PEA Cost Comparison Footnotes
Corvus Gold PEA Cost Comparison Footnotes 1. SSR Mining Reports Third Quarter 2019 Results, News Release 19-23. November 5, 2019, 4 quarters Dec. 31, 2018 - Sept. 30, 1019 2. Coeur Mining, Rochester NI 43-101 Technical Report, March 5, 2018 3. Heap Leach Cost at Coeur Rochester includes 3 stage crus
Slide 24: 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/day
Slide 25: Highlighted Exploration Results
Highlighted Exploration Results (Reported intercepts are not true widths as there is currently insufficient data to calculate true orientation in space. Mineralized intervals are calculated using a 0.3 g/t and 1 g/t cutoff) Drill Hole # Interval (m) Gold (g/t) Drill Hole # Interval (m) Gold (g/t) ML
Slide 26: 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 (