Mirasol Resources Ltd · TSXV:MRZ

Mirasol Resources — Investor Presentation (May 2023)

64 slides from Mirasol Resources's investor presentation, May 2023

  1. Slide 1: Focused on Discovery: Exploration Update

    FOCUSED ON DISCOVERY TSX-V: MRZ Exploration Update Sobek Project, Chile OTC: MRZLF May 2023

  2. Slide 2: Cautionary Statement

    MIRASOL RESOURCES Cautionary Statement This presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this presentation, other than statements of historical fact, that address future operations, resource potential, exploration drilling, exploitation

  3. Slide 3: Company Overview

    Company Overview  Leading exploration company  Quality copper, gold and silver  Well-funded exploration and JV with a track record of success exploration projects partnerships  $60 million liquidity event in 2012  Focused on highly-prospective  Currently advancing to drilling at from the disco

  4. Slide 4: Share Structure and Treasury

    Share Structure and Treasury Shares Shares Fully Market Conservative Outstanding Diluted Capitalization Share Structure 60M 64M ~C$62M Cash Well Funded ~C$6.0M  Insiders Holding: 32% Cash position as at end of quarter December 31, 2022 4

  5. Slide 5: Flagship Self-Funded & Active Projects

    Flagship Self-Funded & Active Projects Atacama Puna Region Altazor Inca Gold - Vania Titan-Atlas Sobek Nord San Juan Porphyry Copper Projects Virginia Silver Deposit Tefnut Self-funded Partner funded Pipeline project 5

  6. Slide 6: Sobek - Staking Rationale (2016)

    Sobek - Staking Rational (2016) MARICUNGA Sobek North BELT Trans-Andean Suture Trans-Andean Suture Sobek Sur (2016) 6

  7. Slide 7: Vicuña District - Giant Copper-Gold District

    Vicuña District - Giant Copper-Gold District  Located in the globally recognized Vicuña copper-gold district  5 km west of new Porto Cliffs discovery by NGEx Minerals Sobek North 5 km Potro Cliffs  7 km west of Filo del Sol with Josemaria to the east and Los Helados to the north  Mio-Pliocene ag

  8. Slide 8: Sobek - 2021/22 Maiden Exploration Campaign

    Sobek - 2021/22 Maiden Exploration Campaign Airborne Magnetics: • Property wide High resolution 2,690 line-km helicopter-supported aeromagnetic survey completed by New-Sense Geophysics Ltd, Chile.  Improved understanding of the local structural architecture  Defined multiple highly prospective geo

  9. Slide 9: Sobek Central - Prospects

    Sobek Central - Prospects Filo Del Sol Sobek Central – Looking NE Sobek Central - Looking to SE Anomalous Gold in Select Rock Samples from the VN Zone The initial reconnaissance campaigns confirmed the presence of interesting mineralization and alteration. TSX-V: MRZ OTC: MRZLF 9

  10. Slide 10: Sobek Central - 2021/22 Exploration Results

    Sobek Central - 2021/22 Exploration Results High-grade Cu-mineralization – Green Wall Zone Gypsum stockworks-CLP Zone TSX-V: MRZ OTC: MRZLF 10

  11. Slide 11: Sobek Central - 2021/22 Exploration Results

    Sobek Central - 2021/22 Exploration Results Green Wall Zone Note: Significant assay results from select rock chip grab and float samples collected from the exposed dyke structure. CLP-Zone CLP Zone – Looking SE TSX-V: MRZ OTC: MRZLF Note: Significant assay results from select rock chip grab and floa

  12. Slide 12: Sobek Property – Vicuña District Players

    Sobek Property – Vicuña District Players 2022  NGEX (Lundin) Josemaria – Las Helados  Filo Mining (Lundin) Filo del Sol Los Helados  Lundin Mining Josemaria  Barrick Mirasol  Codelco Potro Cliffs Josemaria  Soquimich 2023  Mogotes Syndicate Mineral Pty. MRZ Filo Del Sol  Panamerican Silver –

  13. Slide 13: Sobek Central & North - Stream Sediment Anomalies

    Sobek Central & North - Stream Sediment Anomalies (-80#) TSX-V: MRZ OTC: MRZLF 13

  14. Slide 14: Sobek - 2022/23 Exploration & Planned Drill Campaign

    Sobek - 2022/23 Exploration & Planned Drill Campaign 2022 Exploration continues at a fast pace:  Strong relationship with local communities  Trailer camp operational, low altitude, 2100m ASL, 40 minutes to center of project  Crews actively exploring our entire package 2023 This season plans inclu

  15. Slide 15: Sobek – Mobile MT Survey Complete – Results Pending

    Sobek – Mobile MT Survey Complete – Results Pending 2022 2023 500 km helicopter-supported Aerial Mobile MT Survey completed TSX-V: MRZ OTC: MRZLF

  16. Slide 16: Sobek – Access Road Continues to Progress

    Sobek – Access Road Continues to Progress 2022 VN-Zone 2023 Central Breccia 7 km access road for drill mobilization TSX-V: MRZ OTC: MRZLF

  17. Slide 17: Inca - Flagship Project - Copper-Gold - Chile

    Inca - Flagship Project - Copper-Gold - Chile Atacama Puna Region Inca Gold - Vania • S Self-funded Partner funded TSX-V: MRZ OTC: MRZLF Pipeline project 17

  18. Slide 18: Inca - New Targets Identified

    Inca - New Targets Identified Chuquicamata  Paleocene belt of northern Chile Inca Gold -  Large 16,300 ha property Vania  Earn-in option agreement with Newmont Santo Domingo  Porphyry Copper/IOCG/HSE Gold potential  Lower elevation (2,000-3,000m Vania ASL)  Year-round access, mature close- by

  19. Slide 19: Inca - Vania North – Drill Ready

    Inca - Vania North – Drill Ready Coincident ground Mag, IP, with gold and geochemical pathfinder anomalies Vania North Interpreted Structures Vania North Prospect  Compelling conceptual porphyry Au-Cu prospect delineated by multi-layered exploration data collected by Newmont prior to the option agr

  20. Slide 20: Inca - Vania North – Drill Ready

    Inca - Vania North – Drill Ready Electrical IP Pole-Dipole survey detected coincident IP anomalies TSX-V: MRZ OTC: MRZLF 20

  21. Slide 21: Inca - Vania South - NEW Drill Target

    Inca - Vania South - NEW Drill Target Reprocessed Magnetic Data Identifies Compelling New Prospect Vania North Vania North Vania East Vania South Vania South Original ground Mag data Reprocessed ground Mag data TSX-V: MRZ OTC: MRZLF 21

  22. Slide 22: Inca - Vania South - NEW Drill Target

    Inca - Vania South - NEW Drill Target  Grab sample results confirm mineralization  Geochemical DSG survey completed to finalize drill targets  IP Surveys completed over Vania North and Vania South Areas of interest, east of Mag target Chargeability Anomaly TSX-V: MRZ OTC: MRZLF 22

  23. Slide 23: Inca - Vania South - NEW Drill Target

    Inca - Vania South - NEW Drill Target Electrical IP Pole-Dipole survey detected coincident IP anomalies PDP Line 1100 Resistivity PDP Line 1100 Chargeability Target Zone “A” Target Zone “A” Target Zone “C” Appearance of structural complexity (west) and perhaps resistive leached cap (east), is eviden

  24. Slide 24: Inca - Vania South - New Mirasol 50m Pole-Dipole Line

    Inca - Vania South - New Mirasol 50m Pole-Dipole Line Resistivity Line 675N lacks adequate depth of investigation to test for a porphyry target, but the shorter (50 m) dipoles are capable of resolving structures better than the long- dipole PDP lines. The line was situated to cross the mapped sedime

  25. Slide 25: Inca - 2022/23 Exploration & Drill Campaign

    Inca - 2022/23 Exploration & Drill Campaign Exploration completed to date:  Detailed IP geophysical survey complete  Soil (DSG) and rock chip sampling complete  Surface follow-up of anomalies Plans include:  Integrate results from sampling  Field follow-up on pending results  Prioritize drill

  26. Slide 26: Highlight Project - Virginia - Silver, Argentina

    Highlight Project - Virginia - Silver, Argentina Project  Santa Cruz, Argentina Overview  74,429 ha  Low to Intermediate sulfidation epithermal (LSE/ISE) silver vein prospect Virginia Silver  70 km south (SSE) of Newmont`s Cerro Negro Mine Deposit Exploration  ~10,000 m of drilling completed du

  27. Slide 27: Virginia Deposit – Conceptual 2016 Resource Pits

    Virginia Deposit – Conceptual 2016 Resource Pits Eli North Martina North Eli Central Martina South 500 m Margarita TSX-V: MRZ OTC: MRZLF 11,927,000 3,062,000 27

  28. Slide 28: Highlight Project - Virginia Deposit – Exploration

    Highlight Project - Virginia Deposit – Exploration 10,000 m of new drilling PA-DDH-001: 2.95m @ 96 g/t Ag incl 0.35m @ 163 g/t Ag, & 1.45m @ 120 g/t Ag incl 0.5m @ 198 g/t Ag completed under option agreement Highlights from Virginia Main  Confirmed the potential for new well-mineralized structures

  29. Slide 29: Ely North and Ely Central Vein Trends Long Section

    Ely North and Ely Central Vein Trends Long Section with Interpreted Composite Grade Shells (Ag cut-off grade 63 g/t) N Ely North Vein Ely Central Vein Ely South Vein Ag ppm EC-DDH-008 EC-DDH-011 EC-DDH-012 EC-DDH- VG-183 EC-DDH-010 100 EN-DDH-006 002 63 30 Ely North Resource Pit “South Body” Rock Ch

  30. Slide 30: Martina Vein Trend Long Section

    Martina Vein Trend Long Section with Interpreted Composite Grade Shells (Ag cut-off grade 63 g/t) N VG-122 MSE-DDH-004 VG-124 VG- VG- 089A MC-DDH- VG-121 VG- 094A MSE-DDH-003 VG-125 VG-123 119A 001A MNW-DDH-001 VG-093 VG-092 MNW-DDH- 006 MC-DDH-002 MSE-DDH-001 Ag ppm MNW-DDH-005A MNW-DDH- 100 MSE-DD

  31. Slide 31: Margarita Vein Trend Long Section

    Margarita Vein Trend Long Section with Interpreted Composite Grade Shells (Ag cut-off grade 63 g/t) N : 10 x 10 x 10m Blocks Mapped Vein Margarita Vein MR-DDH-002 Rock Chip Sample Ag ppm Northwest Southeast 100 Open Open 63 Target Target 30 MR-DDH- MR-DDH- MR-DDH-001 005 MR-DDH-003 004 MR-DDH- Planv

  32. Slide 32: Upcoming Catalysts

    Upcoming Catalysts  Sobek detailed geophysics results  Drilling Sobek Q2 2023  Soil (DSG) sampling and recent rockchip sample results from Inca  Drilling Inca Q2/Q3 2023  Incorporating new drill results into the existing 2016 Resource at Virginia  Updated Resource for Virginia Deposit TSX-V: M

  33. Slide 33: Project Portfolio Overview

    Project Portfolio Overview Atacama Puna Program Three Mirasol-funded projects Atacama Puna Region Three partner-funded projects Inca - Strong pipeline of early and mid-stage Vania projects Sobek Exploration Partners: • S Virginia Silver Deposit Self-funded Partner funded TSX-V: MRZ OTC: MRZLF Pipeli

  34. Slide 34: Board of Directors

    Board of Directors Patrick Evans Executive Chair  Appointed to the board in 2016  Over 20 years of senior Diane Nicolson management experience in Director various public mining companies  B.Sc. in Geology and a PhD in Economic Geology Nick DeMare  Over 20 years of experience in mineral Director

  35. Slide 35: Management Team

    Management Team Tim Heenan President  Over 30 years of exploration & operating experience in Central and South America  Involved in several high-profile projects including the famous Carmen Cazares Cerro Negro Mining District in Chief Financial Officer Argentina  Chartered Professional Accountant

  36. Slide 36: Project Portfolio – Activities Summary

    Project Portfolio – Activities Summary Sobek Detailed reconnaissance & sampling program completed Drilling planned Q2’23 Inca Gold New drill targets identified - Induced Polarity (IP) Survey completed Drilling in Q2/Q3’23 Plans to update Virginia Regained 100% Interest in the High-Grade Silver Depos

  37. Slide 37: Pipeline Projects – San Juan Porphyry Copper Projects

    Pipeline Projects – San Juan Porphyry Copper Projects Project  San Juan Province, Argentina Overview  Three separate properties representing 10,741 ha Atacama Puna  All are Porphyry Copper prospects Generative  South of Mirasol’s Osiris project (Chile) Region  High profile projects nearby:  in

  38. Slide 38: Tefnut Prospect – San Juan Porphyry Copper Projects

    Tefnut Prospect – San Juan Porphyry Copper Projects Project  San Juan Province, Argentina Overview  4,500 ha within the Mio-Pliocene copper-belt Atacama Puna  Porphyry Copper prospect Generative  High profile projects nearby, to the west include Novicio, Region West Wall and Pimenton Ownership 

  39. Slide 39: TEFNUT – NEW Porphyry Copper Target

    TEFNUT – NEW Porphyry Copper Target 1km Mo-25ppm Mo- Intense zone of early 42ppm quartz stockworking with QSP overprint Diorite porphyry, Early diorite porphyry with with quartz-sericite- strong quartz-magnetite pyrite alteration and veining & disseminated Copper rock-chip values D-B veining. chalco

  40. Slide 40: Tefnut – Sample – Early Quartz Veining

    Tefnut – Sample – Early Quartz Veining TSX-V: MRZ OTC: MRZLF

  41. Slide 41: Tefnut – Quartz Magnetite Veining

    Tefnut – Quartz Magnetite Veining Outcropping intense quartz-magnetite stockworks EarlyTSX-V: Mineral Porphyry MRZ OTC:with qtz-Magnetite veinlets, potassic alteration and MRZLF insitu Cu-oxides

  42. Slide 42: Tefnut – Veining & Alteration

    Tefnut – Veining & Alteration Diorite Porphyry with Qtz-Ser-Py (Phyllic) alteration and D –B Type veinlets Choiyoi Group Conglomerates with intense Qtz-Ser-Py (Phyllic) alteration. Choiyoi Group Rhyolites and tuffs with Qtz-Ser-Py Epidote in veinlets and void-fills en Choiyoi Group (Phyllic) alterat

  43. Slide 43: Tefnut – Conceptual Exploration Model

    Tefnut – Conceptual Exploration Model TSX-V: MRZ OTC: MRZLF

  44. Slide 44: Flagship Project – Altazor – Gold/Copper, Chile

    Flagship Project – Altazor – Gold/Copper, Chile Project  Mio-Pliocene age mineral belt, northern Chile Socaire Overview  33,300 ha (20kms north of our Coronacion Project - FQM)  High sulfidation epithermal (HSE) gold + Cu-porphyry property  60 km via paved highway south from the village of Socai

  45. Slide 45: Altazor – Exploration Targets

    Altazor – Exploration Targets  4 drill holes targeted based on a combination of geology / Post-mineral cover and flows geochemistry / geophysics / alteration CSAMT survey line  2 holes to test for HSE and 2 holes for Cu-Au Porphyry potential CSAMT Resistivity Anomaly Max Resistivity Grid Au La Pue

  46. Slide 46: Altazor – Exploration Targets

    Altazor – Exploration Targets S Au N • 4 initial “test of concept” drill holes defined • Defined by geology-geochemistry-geophysics-ASD • 2 holes targeted for HSE potential • 2 on Cu-Au Porphyry targets. • Total drilling meters is 2000m for the four targets. S Au N Cu/Au Cu-Au Porphyry S Cu/Au N Au

  47. Slide 47: Highlight Project - Gorbea Belt – Gold/Copper/Silver, Chile

    Highlight Project - Gorbea Belt – Gold/Copper/Silver, Chile Project  Mio-Pliocene age mineral belt Overview  High sulfidation epithermal (HSE) gold property  32,000 ha Gorbea Belt  70 km north of Salares Norte, Chile Project Atlas Exploration  A large land package containing nine projects in th

  48. Slide 48: Gorbea - ATLAS Prospect Exploration Potential

    Gorbea - ATLAS Prospect Exploration Potential “Currently refining drill targets to offer project to potential partners”  Expansion potential remains to both the east and west to extend the mineralization and explore for high-grade “feeder” mineralization  Another viable untested target lies to eas

  49. Slide 49: Gorbea - TITAN Prospect Exploration Potential

    Gorbea - TITAN Prospect Exploration Potential  Untested “Maricunga Type” Cu-Au porphyry at depth remains prospective.  Magnetic anomaly700 x 600 m  Outcrop of massive magnetite, and magnetite-hematite veining  Underlying Chargeable Magnetic body. Potential for “Maricunga Type Porphyry” or “Lepan

  50. Slide 50: Highlight Project – Libanesa – Gold/Silver, Argentina

    Highlight Project – Libanesa – Gold/Silver, Argentina Project  Santa Cruz, Argentina Overview  14,500 ha  Low sulfidation epithermal gold/silver prospect  Located at the NE margin of the Deseado Massif Exploration  Drill targeting program completed Libanesa Project  2,000m drill program comple

  51. Slide 51: Libanesa Project – Exploration Program

    Libanesa Project – Exploration Program 2,000m maiden drill program focusing on Cerro Redondo and Lagunita prospects  Cerro Redondo has a 1km sub-circular geomorphic feature, that hosts multiple gold-silver-lead anomalies inside and at its margins  Cerro Plomo is the principal target and hosts a 50

  52. Slide 52: Sascha-Marcelina – Gold/Silver Argentina

    Sascha-Marcelina – Gold/Silver Argentina Project  Santa Cruz, Argentina Overview  Low sulfidation epithermal (LSE) gold-silver property  30,600 ha - Elevation of 800 ASL  100 km south to Newmont’s Cerro Negro mine Ownership  24,900 ha owned by Mirasol, 5,700 ha under an option to purchase agree

  53. Slide 53: Sascha-Marcelina – Untested Exploration Potential

    Sascha-Marcelina – Untested Exploration Potential • Widespread Au/Ag/Zn/Pb mineralization identified in Mirasol’s drilling • Multiple vectors defined to untested targets remaining • District scale property package • Search initiated for third party exploration partnership TSX-V: MRZ OTC: MRZLF 53 53

  54. Slide 54: Sascha-Marcelina – Pellegrini Breccia Target

    Sascha-Marcelina – Pellegrini Breccia Target • Precious metal mineralization decreases in intensity and further to the east, outboard and distal to the remaining untested central target • Untested chargeability/resistivity anomaly defined from the recent deep penetrating IP geophysics TSX-V: MRZ OTC

  55. Slide 55: Nord Polymetallic Project, Chile

    Nord Polymetallic Project, Chile Project  Eocene-Oligocene Copper Porphyry belt of northern Chile Overview  1,967 ha  Altitude of 3,200 to 3,900m ASL  Polymetallic Intermediate Epithermal and Porphyry prospect Nord Project Option  Executed in September 2020, four-year term Chile Agreement  Ann

  56. Slide 56: Nord Project – Exploration Results

    Nord Project – Exploration Results Two targets advanced on Mirasol property Target 3: 1,200m scout drill program completed  Narrow zones of zinc mineralization (sphalerite - pyrrhotite) encountered in the northern holes  Higher temperature (garnet-pyroxene-magnetite) skarn hosting narrow zones of

  57. Slide 57: Nord Project – New Target 2

    Nord Project – New Target 2 Alteration 10k Alluvial & Ignimbrite Cover Target K Cu (Mo)  Leading exploration Skarn Gt >Px >Wo Zn, Fe, & Cu-Au company Epithermal Veins  Experienced Qz-Sericite Alteration Jaros-Alun-Kaol leadership in Lim/Qz Veinlets place Massive sil-Brx Qz-Sericite Alteration Jaro

  58. Slide 58: Partner-Funded Projects

    Partner-Funded Projects Atacama Puna Option to Joint Venture Region Coronación Sept 2019: Coronación - FQM 80% Partner: First Quantum Target: Porphyry Copper 3,000m + MRZ 20% Geophysics 10,000m of Drilling and Delivery of a PFS Objective: Discovery Drilling Committed US$875k Option Payments (US$175k

  59. Slide 59: Partner Funded Project - Coronación - Copper/Gold, Chile

    Partner Funded Project - Coronación - Copper/Gold, Chile Project  Mio-Pliocene age mineral belt, northern Chile Overview  1,200 ha  Porphyry Copper and HSE gold project  80 km E of Escondida and 240 km ESE from Antofagasta and 20kms south of the Altazor project. Partner  First Quantum Minerals

  60. Slide 60: Partner Funded Project - Rubi - Copper, Chile

    Partner Funded Project - Rubi - Copper, Chile Project  Paleocene age mineral belt, northern Chile Overview  7,500 ha  Porphyry copper project  Lies at relatively low elevation (1,900 – 2,100m ASL)  Year-round access via well maintained gravel roadways  Adjacent townships with a trained mining

  61. Slide 61: Partner Funded Project - Rubi – Exploration Program

    Partner Funded Project - Rubi – Exploration Program Multiple indicators of proximity to a potential covered and well mineralized porphyry Cu system: • Occurrence of porphyritic daci-andesite intrusive rocks and hydrothermal brecciation that exhibit strong quartz- sericite (phyllic) alteration overpr

  62. Slide 62: Partner Funded Project - Homenaje - Gold/Silver, Argentina

    Partner Funded Project - Homenaje - Gold/Silver, Argentina Project  Santa Cruz, Argentina Overview  11,056 ha  Low sulfidation epithermal gold/silver prospect  Located at the western margin of the Deseado Massif  3 km south and southwest from the COSE and Cap Oeste mines operated by Pan America

  63. Slide 63: Slide 63

  64. Slide 64: TSX.V: MRZ OTC: MRZLF

    TSX.V: MRZ OTC: MRZLF For Further Information: Tim Heenan, President Troy Shultz, VP Investor Relations Tel: (604) 602 9989 Email: troy.shultz@mirasolresources.com Website: mirasolresources.com TSX-V: MRZ OTC: MRZLF Sobek Project, Chile 63

Mirasol Resources — Investor Presentation (May 2023) on 6ix