Wiluna Mining Corporation Ltd · ASX:WMC

Wiluna Mining — Blackham Resources — Non-Deal Roadshow (February 2016)

31 slides from Wiluna Mining's roadshow presentation, February 2016

  1. Slide 1: Matilda Gold Production Rapidly Approaching

    MATILDA GOLD PRODUCTION RAPIDLY APPROACHING Institutional Roadshow Feb 2016 ASX : BLK

  2. Slide 2: Near Term Gold Producer Focused on Shareholder Value

    NEAR TERM GOLD PRODUCER FOCUSED ON SHAREHOLDER VALUE  4.7Moz Au resource & 780km2 landholding in Australia’s biggest gold belt  1.3Mtpa plant & infrastructure unlocks value in Matilda Gold Project allowing production over 100,000ozpa  PFS confirms Robust Economics with low risk start up strategy

  3. Slide 3: 2nd best performing Aussie gold stock in 2015

    2nd best performing Aussie gold stock in 2015 CAPITAL STRUCTURE BOARD OF DIRECTORS Market cap. @ A$0.30 A$61M Bryan Dixon Managing Director Mining Develop’t & Corporate Alan Thom Director – COO Mining Develop’t & Operation Shares on issue 202M Milan Jerkovic Non-Exec Chairman Mining Develop’t & Oper

  4. Slide 4: Blackham & Matilda Strategy

    Blackham & Matilda Strategy Blackham Strategy  Western Australia’s next +100,000ozpa producer  AISC A$1,100/oz. and normalised EBITDA $45Mpa  Strengthen and lengthen reserves profile  Growing the under head frame resources  Game changing discoveries  Opportunistic bolt on acquisitions Matilda

  5. Slide 5: Regional Endowment

    Regional Endowment  Large, highly prospective tenement holding in Australia’s biggest gold belt  Australia’s largest gold belt stretches from Norseman – Kalgoorlie – Leinster to Wiluna  Regional endowment > 40Moz  Matilda project has global 9Moz endowment including >4.3Moz of past production  P

  6. Slide 6: History of Wiluna Goldfield

    HISTORY OF WILUNA GOLDFIELD ► Long History of Production +4.3Moz ► Historical Oxide, Quartz, Tailings ~1Moz 1897 – 1924 Oxide & Quartz 186,000oz 1984 – 1993 Oxide & Tailings 770,000oz ► BIOX Fitted to Existing Oxide Plant (Com May 1993) ► 2007: Project broken up - Wiluna mine assets sold to Apex for

  7. Slide 7: Matilda Gold Project an embarrassment of riches

    Matilda Gold Project an embarrassment of riches  Resource 45Mt @ 3.3 g/t for 4.7Moz Au – 49% indicated resource level  Re-consolidated Wiluna goldfield  All deposits within 20km of plant with existing haul roads in place  Mix of open pit & high grade UG ore  +780 km2 of tenure & 55km of mine se

  8. Slide 8: Blackham & Matilda Strategy

    Blackham & Matilda Strategy Matilda Progress to date  Dec 2014, published scoping study  June 2015, BLK completed $38.5M deal with Orion Mine Finance in June 2014  Oct 2015, released PFS growing the Mineral Inventory to 6.0Mt @ 2.8g/t for 540,000oz Au  Significant drilling success over the last

  9. Slide 9: Matilda's extensive infrastructure minimizes capex

    Matilda’s extensive infrastructure minimizes capex  Free milling Plant 1.3Mtpa capable of 100kozpa1  Gas power station & diesel backup  Permitted borefields and infrastructure  350 person village  Sealed airstrip and roads  Biox circuit capable of treating 850tpa refractory ores  UG infrastru

  10. Slide 10: Matilda PFS Production Schedule

    Matilda PFS Production Schedule  PFS demonstrated robust economics  Low risk start up processing free milling ores Matilda & Quartz reefs ore  Crush, grind, gravity & CIL growth to smooth profile  Oxide base load from Matilda Mine  Supplemented with high grade quartz reef ores from Golden Age a

  11. Slide 11: Matilda Mine – base load ore and growing

    Matilda Mine – base load ore and growing  7kms stacked, repeating gold lodes  Soft, deeply weathered oxide ore  Ineffective historical RAB requiring RC follow up along strike and at depth  Production (1987-1993):  2.2 Mt@ 2.6g/t = 181,000oz au  Mineral Inventory - 90% indicated resource  1.8g

  12. Slide 12: Matilda - high grade shallow repeat lodes

    Matilda - high grade shallow repeat lodes Lodes repeating along strike and at depth

  13. Slide 13: Matilda regional stacking & repeating lodes

    Matilda regional stacking & repeating lodes 4m @ 13.9 g/t (64m)  Historical drilling identified mineralisation up to 3km from the mine area  Strike extensions partly covered by drainage – impediment to historical exploration = opportunity  Mentelle trend… parallel structure? Mentelle 4m @ 13.4 g/

  14. Slide 14: High grade quartz reefs strategy

    High grade quartz reefs strategy Commence UG mining Golden Age Expand resource and reserve base Commence Galaxy open pit Commence 2nd UG mining area Stabilize 50,000ozpa from these reefs 14

  15. Slide 15: Golden Age – High grade quartz reef

    Golden Age – High grade quartz reef Golden Age Middle Resource  Produced 160,000oz Au @ 9.0g/t 185kt @ 9.0g/t for 53,000oz  Middle Resource 183kt @ 9.0g/t for 53,000oz  Drill composites in middle average 14.0g/t  DFS gravity leach recovery 93%  2,700m extensional drilling programme ongoing g/t

  16. Slide 16: Galaxy – shallow high grade quartz reef

    Galaxy – shallow high grade quartz reef  Northern extent of a 15km quartz reef system including Golden Age, Republic, Brothers, Caledonia & Golden Age North  Resource 787kt @ 2.6g/t for 66,000oz Au 13kms NNW of Wiluna plant  Mineral Inventory - 89% indicated resource level. Rest of pit has been d

  17. Slide 17: Lake Way - large mineralized system

    Lake Way - large mineralized system  19km south along strike from Wiluna  large tonnage potential structural setting similar to Wiluna with potential for a cluster of deposits  Williamson historically produced 660kt @ 2.0g/t for 42,000Au  Resources RESOURCES Mt g/t Au Oz Au Indicated 2.7 1.7 148

  18. Slide 18: Carroll Prior Trend – large tonnage potential

    Carroll Prior Trend – large tonnage potential  2.5kms of strike with continuous mineralisation  Potential large tonnage, near surface, infill drilling required  SAM’s surveys defined structure. Existing auger & air core. Gravity surveys to be competed shortly.  Very limited drilling into primary

  19. Slide 19: Stage 2 - High grade Wiluna sulphide ores a big prize

    Stage 2 - High grade Wiluna sulphide ores a big prize  Underground and open pit sulphide ore will extend mine life  Sulphide resources - 22Mt@ 4.6g/t for 3.3Moz - 2g/t bottom cut  Underground 11Mt @ 6.3g/t for 2.3Moz - 4g/t bottom cut  Limited drilling required with 49% of resources indicated 

  20. Slide 20: East West UG Mine Design

    East West UG Mine Design 1.5Moz historical production Stopes up to 30m wide Long hole open stoping with +600m strike >500m deep, short haul, own portal & decline 2 separate mining areas maximises production PFS confirmed AISC < A$1,100/oz East West long section looking west showing old stopes and PF

  21. Slide 21: Bulletin DFS UG study nearing completion

    Bulletin DFS UG study nearing completion >600m deep, short haul, own portal & decline Bottom up long hole open stoping Existing development = 4 month payback Long section looking west - Bulletin UG showing old stopes and DFS planned stopes 21

  22. Slide 22: Just scratching the surface

    Just scratching the surface 22

  23. Slide 23: Growing the mine life

    Growing the mine life Mineral Inventory 6Mt @ 2.8g/t Matilda for 540koz & growing Golden Age Galaxy, Williamson Bulletin, East & West Lodes Resource 45Mt @ 3.3g/t for 4.7Moz (49% Indicated) Matilda Extensions Mining studies in progress Bulletin OP, Happy Jack, Creek Shear & Regent Brown fields Lake

  24. Slide 24: Australian Gold Producer Peers

    Australian Gold Producer Peers Source: Avg A$66/oz BLK A$14/oz Avg A$212/oz BLK A$129/oz of Mineral Inventory 24

  25. Slide 25: Blackham Developer Peers

    Blackham Developer Peers Developer GOR DCN BLK Market Cap A$M $270 $113 $61 Dev Cap* A$M $255 $157 $28 Fully Funded EV A$M $525 $270 $89 Gold Resources Mt 134 42 44 g/t 1.405 2.2 3.3 Moz 6.1 3.0 4.7 FFEV/resource oz $/oz $87 $90 $19 Annual production ozkpa 250 222 102 Existing Plant & Infrastructure

  26. Slide 26: Blackham's Matilda Vision

    Blackham’s Matilda Vision  Blackham is focused on its 100% owned Matilda Gold Project in Western Australian with 4.7Moz resources  Plan for 100,000ozpa1 gold production with low risk start up  Working towards a 10 year mine life focusing on the free milling ores at the front end  Very low capita

  27. Slide 27: Disclaimers & Important Information

    Disclaimers & Important Information This presentation includes certain statements that may be deemed ‘forward-looking statements’. All statements that refer to any future production, resources or reserves, exploration results and events or production that Blackham Resources Ltd (‘Blackham’ or ‘the C

  28. Slide 28: Contact Details

    Contact Details BRYAN DIXON MANAGING DIRECTOR Project partners: Office Level 2, 38 Richardson Street West Perth WA 6005 Post PO Box 1412, West Perth WA 6872 Email admin@blackhamresources.com.au Tel (+61 8) 9322 6418 | Fax (+61 8) 9322 6398 Website www.blackhamresources.com.au ASX Code: BLK 28

  29. Slide 29: Directors & Management

    Directors & Management Mr Milan Jerkovic Non-Executive Chairman Mr Richard Boffey Matilda General Manager Mining Engineer Mr Jerkovic has over 30 years of experience in the mining industry with frontline Mr Boffey is an internationally experienced mining executive with over 26 years’ experience buil

  30. Slide 30: Appendix A: Gold Resources

    Appendix A: Gold Resources Matilda Gold Project Resource Summary Measured Indicated Inferred Total 100% Mining Centre g/t g/t g/t g/t Mt Koz Au Mt Koz Au Mt Koz Au Mt Koz Au Au Au Au Au Matilda Mine 0.2 2.1 13 7.4 1.8 426 5.3 1.7 285 12.9 1.8 724 Williamson Mine 2.7 1.7 150 3.6 1.7 200 6.3 1.7 350 R

  31. Slide 31: Appendix B: Gold Reserves

    Appendix B: Gold Reserves Tonnes Grade Metal Mine Classification (t) (g/t) (oz. Au) OPEN PIT Matilda Pits Proved 175,000 1.9 10,900 Matilda Pits Probable 2,296,000 1.8 131,700 Total Matilda Pits Total 2,471,000 1.8 142,600 Galaxy Probable 184,000 3.0 18,100 Total Open Pits Total 2,655,000 1.9 160,70

Blackham Resources — Non-Deal Roadshow (February 2016) on 6ix