Premier American Uranium Inc · TSXV:PUR
Premier American Uranium — Latitude Uranium — Investor Presentation (June 2023)
40 slides from Premier American Uranium's investor presentation, June 2023
Slide 1: Building a Premier Canadian Uranium Exploration Company
BUILDING A PREMIER CANADIAN URANIUM EXPLORATION COMPANY TRANSFORMATIONAL ACQUISITION OF THE ANGILAK PROJECT CORPORATE PRESENTATION – JUNE 2023 CSE:LUR | OTCQB:LURAF | FRA:El1
Slide 2: Disclaimer
2 Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This presentation contains "forward-looking information" within the meaning of applicable available if and when needed and on reasonable terms to conduct further exploration and The mineral resource estimates for Moran Lake contained
Slide 3: Overview
LATITUDE = UR AN IU ™M Ah? tO ca OVERVIEW
Slide 4: Investment Highlights
4 Investment Highlights Fueling Net Zero World Class Assets in Excellent Jurisdictions Entrusted Stewardship ▪ Uranium is the best source of clean, ▪ At 1,000 tpd, Angilak would be in ▪ Purpose driven management and board dense energy to decarbonize the world the top 10 uranium assets globally ▪ Dee
Slide 5: More Nuclear is Required for Fueling Net Zero
5 More Nuclear is Required for Fueling Net Zero Nuclear and hydro form the backbone of low-carbon electricity generation Energy Uses Heating Transport Electricity Total Oil 17% 85% 3% 33% Energy Sources Coal 8% 0% 37% 27% Gas 45% 7% 25% 24% DIRECTION Electricity 17% 5% 0% 0% TO NET ZERO Nuclear 0% 0
Slide 6: Project Overview – Strong Canadian Portfolio
6 Project Overview – Strong Canadian Portfolio A Premier Canadian Uranium Exploration Company CMB Project, Labrador Angilak Project, Nunavut 685 km2 (265 mi2) 1,520 km2 (536 mi2) 43.3 m lbs U3O8 Historical Resources at 0.69% U3O8 Moran Lake & Anna Lake $8m Budget 2023 $4m Budget 2023 By-Products Mo,
Slide 7: Company Snapshot
7 Company Snapshot CAPITAL STRUCTURE Shares, basic o/s (million) 203.1 Options (million) 6.5 Warrants (million) 30.4 Shares, F.D. (million) 240.0 Share price $0.28 Mkt Cap (basic, $ million) ~$57 Cash ($ million) $17 ANALYST COVERAGE FIRM ANALYST RATING TARGET Red Cloud Securities Dave Talbot BUY $1
Slide 8: Experienced Board & Management
8 Experienced Board & Management Strong Uranium & Mining Experience Combined with Geology & Development Board of Directors Management & Technical Team Phil Williams John Jentz Richard Patricio Justin Reid Greg Duras Nancy Normore Drew Heasman Paul Pearson Executive Chairman CEO and Director Director
Slide 9: Angilak Project, Nunavut
LATITUDE UR A NS ANGILAK PROJECT, NUNAVUT
Slide 10: Nunavut is a Pro Mining Territory
10 Nunavut is a Pro Mining Territory Polaris Teck Cominco Excellent Jurisdiction for Exploration & Mining Nanisivik Breakwater ▪ Southern Nunavut has an arid arctic climate, where surface geological work can be carried out from mid- Mary River Baffinland May to mid-October ▪ Permitting / IBA process
Slide 11: Angilak is a District Scale Uranium Project
11 Angilak is a District Scale Uranium Project District Scale Potential Balanced with Short Term Goal of Resource Expansion Lac 50 Trend Historical Inferred Resource: 43.3 Mlbs U3O8 @ 0.69% in 2.8 Mt ▪ 68,552 hectares (685 km2) 20 km ▪ $95+ million (12 mi) invested since 1975 40 km (25 mi) 1. See Pr
Slide 12: Angilak Lac 50 Trend is the Short-Term Focus
12 Angilak Lac 50 Trend is the Short-Term Focus B Lac 50 Trend Historical 43-101 Resource: 43.3 M lbs U3O8 @ 0.69% (2.8 MT U3O8) 20 km (12 mi) 40 km CSE:LUR | OTCQB:LURAF | FRA:El1 (25 mi) www.latitudeuranium.com
Slide 13: High Grade (0.69%) & Shallow Deposit (0-350m)
13 High Grade (0.69%) & Shallow Deposit (0-350m) 335 Drill Holes totaling 60,258m HISTORICAL INFERRED MINERAL RESOURCE ESTIMATE (MARCH 1, 2013) %U3O8 >1% Cut-off Tonnes U3O8 Ag Mo Cu U3O8 Ag Mo Cu 0.8 – 1.0% Category 20 km % (000s) % g/t % % M lbs 000 oz M lbs M lbs 0.6 – 0.8% (12 mi) 0.4 – 0.6% 0.2
Slide 14: 2km Gap Between J4 & EE
14 2km Gap Between J4 & EE ▪ Winter drilling was not done historically ▪ Winter drilling can be done on and around the frozen lakes and bodies of water ▪ Need to plan winter lake drilling at start of season (April-May) CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 15: Resource Expansion Targets
15 Resource Expansion Targets Discovery Potential Between Zones, On-Strike & Off-Sets PROVEN & EFFECTIVE TARGETING METHODOLOGY 1. Uranium-bearing structures (graphite-chlorite tuffs) are highly conducted 2. Ground VLF-EM defines distinct and well-defined targets typically associated with near-surfac
Slide 16: Lac 50 Trend
16 Lac 50 Trend Main, Western Extension Zones (off-map) Zero drill holes east along J4-Ray trend (over 4.5 km) One drill hole J4 West Target* Eastern (18/21 holes hit U3O8) Extension *pre-resource J4, Ray Zones Zone Lake Lake Lake Lake 1 km Basemap: WorldView-3 true colour imagery, and VLF-EM (Frase
Slide 17: Lac 50 Favourable Economic Profile
17 Lac 50 Favourable Economic Profile ▪ Grade is important ▪ Other important economic drivers include: ▪ Ore body orientation ▪ Structural controls ▪ Mining method ▪ Metallurgy ▪ Ore sorting / Grade upgrading CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 18: Radiometric Ore Sorting will Increase Economics
Radiometric Ore Sorting will Increase Economics 18 Increased Head Grade to Mill = Increased Economics & Mining Flexibility Summary of Radiometric Ore Sorting Study Uranium Ore Increased Head Grade Rock Rejected Loss to Mill 50.8% 3.3% 2.0x 84.1% 5.9% 6.3x CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitude
Slide 19: Excellent Initial Metallurgy
Excellent Initial Metallurgy 19 >95% Recovery, 70% Uranium, No Penalties Impurity Analysis of Yellowcake Product from Lac 50 deposit Limited without Limited without Angilak Low impurity yellowcake product Penalty rejection Yellowcake (70% uranium) meets ASTM Uranium (U) N/A 65% min. 70% Arsenic (As)
Slide 20: Low Eco-Friendly Reagent Consumption
20 Low Eco-Friendly Reagent Consumption Alkaline Leach Testing done by Saskatchewan Research Council ▪ 100% of primary alkaline leach reagents are recycled ▪ Only lime and sodium hydroxide consumed in leaching process ▪ Potential carbon credits from CO2 capture used in leaching process CSE:LUR | OTC
Slide 21: CMB Project, Labrador
I LATITUDE UR A N | UM CMB PROJECT, LABRADOR
Slide 22: Dominant Land Position in Central Mineral Belt of Labrador
22 Dominant Land Position in Central Mineral Belt of Labrador +50 Years of Exploration & Data by Various Companies CMB Project ▪ 152,865 ha covering a significant portion of the belt ▪ Significant resource base with strong discovery potential belt wide Anna Lake Anna Lake Deposit1 Trend ▪ Nearby lar
Slide 23: CMB Airborne Gravity-Gradiometer-Magnetics-Radiometrics Survey
CMB Airborne Gravity-Gradiometer-Magnetics- 23 Radiometrics Survey Falcon Airborne Gravity Gradiometer, Gravity, Magnetics, and Radiometrics: ▪ 31,892 ln km at 200 m spacing ▪ Tie line ratio of 20:1 (4,000 m) ▪ Cost ~$3m CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 24: CMB Airborne Gravity-Gradiometer-Magnetics-Radiometrics Survey
CMB Airborne Gravity-Gradiometer-Magnetics- 24 Radiometrics Survey Falcon Airborne Gravity Gradiometer, Gravity, Magnetics, and Radiometrics: ▪ Early airborne gravity work (Crosshair) highlighted hematite/mafic volcanics associated with U and Cu around Moran Lake ▪ Unprecedented look into deeper reg
Slide 25: CMB Regional Analysis
25 CMB Regional Analysis Data entry for machine learning: ▪ Mercator Geological Services completing data entry of surface geochemical data over entire central mineral belt ▪ Data will provide another data set for refinement of commodity phases for machine learning CSE:LUR | OTCQB:LURAF | FRA:El1 www
Slide 26: CMB Mustang Lake Geophysics
26 CMB Mustang Lake Geophysics CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 27: CMB Mustang Lake Geophysics
27 CMB Mustang Lake Geophysics Ground Gravity: ▪ 200 m spacing ▪ 50 m stations on each line ▪ ~ 1,700 stations Magnetic Survey: ▪ ~ 342 Line KM ▪ 200 m spacing Completed by Abitibi Geophysics CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 28: Dual Focused Strategy
28 Dual Focused Strategy $12 Million Work Program Planned For 2023 District Wide Target and Project Generation Near Term Angilak Resource Growth Airborne survey and soil geochemistry to add drill targets Angilak 6,000 m drill testing key targets in Lac 50 trend Mustang Lake Ground geophysics and tar
Slide 29: Building a Premier Canadian Uranium Exploration Company
29 Building a Premier Canadian Uranium Exploration Company Transformative Two emerging Proven company acquisition of the uranium camps with builders with a large, high-grade massive discovery leading technical Angilak Project potential team CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 30: Appendix
LATITUDE UR A NS APPENDIX
Slide 31: Angilak Location & Infrastructure
31 Angilak Location & Infrastructure Angilak Camp Transportation & Logistics ▪ Camp capable of hosting 50+ people ▪ ~225 km south of the community of during the summer Bake Lake, with regular flights to/from ▪ Open during exploration season from Winnipeg, MB and Yellowknife, NWT Orano April to Septe
Slide 32: Overview of Mining in Nunavut
32 Overview of Mining in Nunavut ▪ Mining has been the key economic driver in the Canadian north for the past 90+ years with at least one new mine opening each decade since the 1930’s ▪ The NWT & Nunavut Chamber of Mines has been the voice of the Canadian north mining since 1967 ▪ Shortly after Nuna
Slide 33: Nunavut Mine Permitting is Well Established
33 Nunavut Mine Permitting is Well Established ▪ Angilak is comprised of 139 mineral claims and a single Inuit Owned Land (IOL) parcel that has an mining agreement with NTI ▪ Nunavut Tunngavik Inc. (NTI) is the corporation responsible for administering subsurface mineral rights on Inuit-owned lands
Slide 34: Geology of Angilak & Lac 50 Trend
34 Geology of Angilak & Lac 50 Trend ▪ Lac 50 is a basement hosted, vein-hydrothermal type, unconformity- associated uranium deposit ▪ The Lac 50 Trend is structurally and stratigraphically controlled within a graphitic (graphite-chlorite) tuff unit in Archean basement basaltic metavolcanics ▪ Miner
Slide 35: Proven & Effective Targeting Methodology
35 Proven & Effective Targeting Methodology ▪ U-bearing structures are highly conductive ▪ Ground VLF-EM defines distinct and well-defined targets typically associate with near-surface uranium mineralization VLF-EM CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 36: Proven & Effective Targeting Methodology
36 Proven & Effective Targeting Methodology ▪ Geochemistry effectively zeros in on uraniferous structures ▪ U-in-soils geochemistry and enzyme- leach (EL) soil sampling VLF-EM U-in-Soils CSE:LUR | OTCQB:LURAF | FRA:El1 www.latitudeuranium.com
Slide 37: Proven & Effective Targeting Methodology
37 Proven & Effective Targeting Methodology Multiple additional U-rich structures Property-wide, drill-ready targets ▪ Drill test down-dip targets with coincident VLF- EM conductors and U-in-soils anomalies ▪ High-grade U drill intercepts followed up down-dip and along strike VLF-EM U-in-Soils Drill
Slide 38: Proven & Effective Targeting Methodology
38 Proven & Effective Targeting Methodology Pre-resource target (i.e. Pulse, Hot, ML, Blaze, Spark, Flare) ▪ Extensive high-grade U3O8 is intercepts led to development of Lac 50 resource ▪ Multiple targets drilled pre-EL soils, so massive discovery and resource expansion potential remains VLF-EM U-i
Slide 39: Project Footnotes
39 Project Footnotes ANGILAK HISTORICAL MINERAL RESOURCE ESTIMATE 1. The mineral resource estimates contained in this table are considered to be “historical estimates” as defined under NI 43-101, and are not considered by LUR or ValOre to be current. 2. Reported by ValOre Metals Corporation in a Tec
Slide 40: Contact Information
CSE:LUR | OTCQB:LURAF | FRA:El1 Contact Information Latitude Uranium Inc. 303 – 217 Queen St. West Toronto, ON, Canada M5V 0R2 www.latitudeuranium.com Email: info@latitudeuranium.com