Ev Nickel Inc. · TSXV:EVNI
Ev Nickel — Investor Presentation (November 2023)
67 slides from Ev Nickel's investor presentation, Nov 10, 2023
Slide 1: The world needs our Clean Nickel
November 2023 Presentation Deck- General --------------------- The world needs our Clean Nickel TM Accelerating the Clean Energy Transition
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking information and forward-looking The Company does not make any representation as to the accuracy of such information. statements (collectively, “forward-looking statements”) within the meaning of applicable This presentation does not const
Slide 3: Investment Case Summary
Investment Case Summary Situation: • Nickel is integral to the current winning EV battery chemistry • CarCos are making very material investments in their production lines • The World needs 3M tonnes of additional Nickel Production by 2035* • For context, Sudbury Ontario produced ~65K tonnes/year… 4
Slide 4: Why the Shaw Dome? Location, Location, Location
Why the Shaw Dome? Location, Location, Location Timmins ▪ Regional population of >85K Ontario ▪ Historic gold mining district, well developed services, 20 Timmins mines and advanced development projects Sudbury CarLang Area ▪ Served by clean hydro power Toronto Large-Scale ▪ <1,000km to Windsor / De
Slide 5: Investment Case Summary- Large-Scale only
Investment Case Summary- Large-Scale only CONCEPTUAL Value Balance Company Equity Valuation: $10M $150M (as of Nov 10, 2023) Source: Crawford data from October 12, 2023 News Release and CNC’s July 2022 submission to the IACC. 5
Slide 6: Presentation Sections
Presentation Sections Macro Case, Company Progression and Current Capital Table EVNi Team- Management and Board Shaw Dome- Intro and Current Mineralization Shaw Dome- Exploration Potential Clean Nickel™ Strategy and R&D 6
Slide 7: Not Enough Nickel plus, Tightening Carbon Regulation
Not Enough Nickel plus, Tightening Carbon Regulation Global Nickel Demand Mtpa 16% 1.1 Battery 0.3 5% 2.2 Stainless 2.1 Annual & Other Growth 2020 2026 Actual Forecast Mtpa Global Nickel Market 2027 Compliance with Footprint Thresholds Demand ~0.5Mtpa Gap 2026 Carbon Intensity Classification Label S
Slide 8: How many Mines are Actually Needed?
How many Mines are Actually Needed? Benchmark forecasts: ~42K tonnes/yr 7M forecast tonnes 6.2M +3M tonnes Sudbury Operations ~65K tonnes 3.2M 2035 Ni in 2020 Demand 2022 Supply The World needs 46 more Sudburys… Source: Benchmark Mineral Intelligence
Slide 9: Nickel Market: this Revolution will be regulated
Nickel Market: this Revolution will be regulated Industry has become sensitized to the general Greenhouse Gas Protocols… Scope 1 Scope 2 Scope 3 Direct Emissions from Indirect Emissions from All other Indirect Emissions- Owned or Controlled Sources Purchased Energy From up & down the value chain …Au
Slide 10: Nickel Market: the Revolution demands changes of Miners
Nickel Market: the Revolution demands changes of Miners “…please mine more nickel... Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way.” – Elon Musk, Tesla Earnings Call July 22, 2020 EV companies are asking nickel m
Slide 11: Building a Clean Nickel Business: Company Launch
Building a Clean Nickel™ Business Company Launch… ✓ Transaction with Rogue to spinout Langmuir (“W4”) ✓ Preliminary Technical Report ✓ IPO on TSXV 2021 2022 2023 2023 So far… …to come 1 Sources: Full details can be found on historic releases at https://evnickel.com/news/ 1
Slide 12: Building a Clean Nickel Business: Expansion & Discovery
Building a Clean Nickel™ Business …Expansion & Discovery… ✓ Transaction to 3x Land Package (including CarLang) ✓ Launched Clean Nickel™ Strategy ✓ Lease & ROFR for Carshaw Mill ✓ Discoveries- W4 Extension, CarLang A Zone, Zone at Groves 2021 2022 2023 2023 So far… …to come 1 Sources: Full details ca
Slide 13: Building a Clean Nickel Business: Delivering the Results
Building a Clean Nickel™ Business …Delivering the Results… ✓ CarLang A Zone Resource- 1B tonnes averaging 0.24% Ni • First ~20% of the CarLang trend ✓ $500K investment from Province of Ontario into R&D ✓ W4 Updated Resource more than 2x the 2010 Resource • 43.4M lbs at 0.98% Ni across all categories
Slide 14: Building a Clean Nickel Business: Charting the Path Forward
Building a Clean Nickel™ Business …Charting the Path Forward • Outlining the Shaw Dome Project Concept • Setting the Permitting and Study Pathway to Production 2021 2022 2023 …to come So far… Sources: Full details can be found on historic releases at https://evnickel.com/news/ 14
Slide 15: Capital Structure
Capital Structure CarLang A Prelim Clean Ticker TSXV: “EVNI” Zone Maiden Nickel™ Resource results Basic Shares Outstanding: Founders 9.8M W4 Updated Rogue Resources 6.6M Resource March 2021 Round (@ $0.30) 6.8M Completed $2M financing Dec 2021 IPO Round (@ $0.75) 7.0M Shaw Dome Acquisition Vendor 2.
Slide 16: Escrow and Lock-up of Current Shares
Escrow and Lock-up of Current Shares Shareholder Category Shares Schedule 10% on the listing date (December 3rd, 2021) 15% at June 3rd, 2022 15% at December 3rd, 2022 Founders & 16.4M 15% at June 3rd, 2023 Rogue Resources 15% (2.5M) + 24 months (December 3rd, 2023) 15% + 30 months (June 3rd, 2024) 1
Slide 17: Presentation Sections
Presentation Sections Macro Case, Company Progression and Current Capital Table EVNi Team- Management and Board Shaw Dome- Intro and Current Mineralization Shaw Dome- Exploration Potential Clean Nickel™ Strategy and R&D 1 7
Slide 18: EVNi- founded and led by Sean Samson
EVNi- founded and led by Sean Samson Sean Samson - President, CEO and Director Mr. Samson is a mining exec with more than 25 years of management and financial experience. For the last 15 years Sean has worked in resource extraction and now runs two publicly-traded Canadian mining companies- includin
Slide 19: EVNi- Exploration led by Paul Davis
EVNi- Exploration led by Paul Davis Paul Davis- VP, Exploration Mr. Davis has over 30 years of executive, exploration and mine management experience for large multinational and junior companies. Most recently, Mr. Davis was VP Exploration at FNI Mining and over his career he has headed mining and ex
Slide 20: People: Track Record of Unlocking Value
People: Track Record of Unlocking Value Management- Tight Team, Know How to Find, Develop and Operate Mines Sean Samson Travis Gingras Paul Davis Phil Vicker President, CEO CFO VP, Exploration Shaw Dome Exploration and Director Board- Deep Community and Transaction Experience Linda Byron Michael Fox
Slide 21: Presentation Sections
Presentation Sections Macro Case, Company Progression and Current Capital Table EVNi Team- Management and Board Shaw Dome- Intro and Current Mineralization Shaw Dome- Exploration Potential Clean Nickel™ Strategy and R&D 2 1
Slide 22: Within 30km of Timmins
ILLUSTRATIVE Within 30km of Timmins 22
Slide 23: Why the Shaw Dome? Location, Location, Location
Why the Shaw Dome? Location, Location, Location Timmins ▪ Regional population of >85K Ontario ▪ Historic gold mining district, well developed services, 20 Timmins mines and advanced development projects Sudbury CarLang Area ▪ Served by clean hydro power Toronto Large-Scale ▪ <1,000km to Windsor / De
Slide 24: Large-Scale Targets: massive potential
Large-Scale Targets: massive potential Strength of Geotech VTEM System Carman - Langmuir Magnetic Total Magnetic Intensity Targets (aka “CarLang”) Intensity (flown by Vendor, May 2008) Higher * Adams- Eldorado Targets Lower For Comparison: Size of CNC’s Crawford Main Zone 360m ↕ North 1.8km ↔ Scale
Slide 25: CarLang, a 10km+ trend- historic surface sampling
“CarLang”, a 10km+ trend- historic surface sampling ▪ Across EV Nickel’s Land package on the Shaw Dome district, many of the surface samples, taken from the Dunites and the Peridotites, graded >0.25% Ni Carman Township 40 samples, 0.33% average Ni grade For Comparison: Size of CNC’s Crawford Main Zo
Slide 26: CarLang, a 10km+ trend- historic drilling
“CarLang”, a 10km+ trend- historic drilling 26
Slide 27: Phase 3 Drilling- CarLang A Zone
Phase 3 Drilling- “CarLang A Zone” Summer 2022 8,295m, 28 Drill Holes EVNI Surface Sample Source: News Releases- October 24, November 28 and December 7, 2022 plus January 12 and February 6, 2023. 27
Slide 28: Maiden Mineral Resource Estimate for the CarLang A Zone
Maiden Mineral Resource Estimate for the CarLang A Zone 37 millions EVs In the ground? CarLang A Zone represents just 20% of the full 10 km-long CarLang Area Trend. Average 100kWh electric vehicle battery requires ~145 pounds of nickel -(Bloomberg New Energy Finance) Note: Full MRE notes in Appendix
Slide 29: CarLang: Massive Relative Potential as a Large-Scale Target
CarLang: Massive Relative Potential as a Large-Scale Target “Crawford is the World’s Largest Nickel Sulphide ▪ Multiple Large-Scale Targets exist around Timmins Discovery since the 1970s.” –Canada Nickel Company EVNI’s View of the Economic Differentiators: CNC- Crawford CarLang A Zone After Crawford
Slide 30: W4 Zone: 2010 - Historical Mineral Resource
W4 Zone: 2010 - Historical Mineral Resource ▪ 22,152 metres of diamond drilling within the W4 area Resource Table ▪ Mineralization subcrops to surface, ranges from 0 to 20m overburden available at evnickel.com ▪ The main mineralized channel is confirmed open at depth and to extend east and west on t
Slide 31: W4 Zone: 1H 2022 - results, New W4 Extension
W4 Zone: 1H 2022 - results, New “W4 Extension” Cross Section 497450 E NEW- Drilled from Forks (looking west) North of river R. Base of overburden Above 200m… Focus of the 2010 W4 Resource ~200m below surface Below 200m… New “W4 Extension” EV22-12 14.3m @ 1.50% Ni with 5.4m @ 2.96% Ni EV22-13 15.8m @
Slide 32: W4 Zone – 2023 Drilling – Drill Hole EV23-02 - Detail
W4 Zone – 2023 Drilling – Drill Hole EV23-02 - Detail For Further Detail see the February 16, 2023 News Release. 32
Slide 33: W4 Zone - 2022 – 2023 Drill Hole Long section
W4 Zone - 2022 – 2023 Drill Hole Long section Looking North For Further Detail see the February 16 and February 28, 2023 News Releases. 33
Slide 34: 2023- Updated Resource for the High-Grade W4
2023- Updated Resource for the High-Grade W4 • Measured + Indicated 31.3M lbs @ 0.98% Ni (2.1x the 2010 estimate*) • Inferred- 12.1M lbs @ 0.98% Ni (3.6x 2010) • 72% of Resource Ni lbs are in Measured and Indicated • Significant resource expansion potential exists at the W4 Deposit as it is open at
Slide 35: 2023- Updated Resource for the High-Grade W4
2023- Updated Resource for the High-Grade W4 ~300K EVs The W4 has Great Grade, In the within 400m of Surface. ground? Average 100kWh electric vehicle battery requires ~145 pounds of nickel -(Bloomberg New Energy Finance) 35 Note: Full MRE notes in Appendix
Slide 36: Groves: New High-Grade Ni-Cu Zone South of Shaw Dome
Groves: New High-Grade Ni-Cu Zone South of Shaw Dome ▪ EVNi acquired the Groves Project in April 2022, located 80 kms southwest of the Shaw Dome. ▪ Exploration last year was focused on field work plus compiling historic results from Groves- Mathu showing. ▪ EVNi reports assay results from 2022 surfa
Slide 37: Presentation Sections
Presentation Sections Macro Case, Company Progression and Current Capital Table EVNi Team- Management and Board Shaw Dome- Intro and Current Mineralization Shaw Dome- Exploration Potential Clean Nickel™ Strategy and R&D 3 7
Slide 38: Why the Shaw Dome? Location, Location, Location
Why the Shaw Dome? Location, Location, Location Timmins ▪ Regional population of >85K Ontario ▪ Historic gold mining district, well developed services, 20 Timmins mines and advanced development projects Sudbury CarLang Area ▪ Served by clean hydro power Toronto Large-Scale ▪ <1,000km to Windsor / De
Slide 39: Shaw Dome- Exploration Potential- Summary
Shaw Dome- Exploration Potential- Summary PRELIMINARY Large-Scale High-Grade CarLang A Deposits W4 Zone Rest of Langmuir Adams- Croxal / Cluster Targets CarLang W2 Eldorado Redstone Trend Owned 1B tonnes Current/ 2M tonnes @1%, @ 0.25% Another 4 more Another Another 2 more Potential within 400m of N
Slide 40: Large-Scale Targets: massive potential
Large-Scale Targets: massive potential Strength of Geotech VTEM System Carman - Langmuir Magnetic Total Magnetic Intensity Targets (aka “CarLang”) Intensity (flown by Vendor, May 2008) Higher * Adams- Eldorado Targets Lower For Comparison: Size of CNC’s Crawford Main Zone 360m ↕ North 1.8km ↔ Scale
Slide 41: CarLang, a 10km+ trend- historic drilling- more A Zones
“CarLang”, a 10km+ trend- historic drilling- 4 more A Zones For Comparison: Size of CNC’s Crawford Main Zone 360m ↕ 1.8km ↔ 41
Slide 42: Other High-Grade Targets: more W4s await
Other High-Grade Targets: more W4s await More than 30K hectares EVNi currently owns prospective land, plus very to explore interesting potential M&A Interesting anomaly, some opportunities preliminary drilling, along same horizon as Redstone Mine and Mill Langmuir Croxal/ Cluster Redstone Trend Inte
Slide 43: Other High-Grade Targets: more potential fuel for Track 1
Other High-Grade Targets: more potential fuel for Track 1 Shaw Dome 3D Map created from VTEM, EM and Magnetics Survey data Being used by the Exploration team to prioritize additional Phase 4 targets… Croxal/ Redstone Trend Langmuir Cluster W2 Zone Source: Condor North Consulting ULC 43
Slide 44: Shaw Dome: Comparison to Australia's Kambalda Dome
Shaw Dome: Comparison to Australia’s Kambalda Dome ▪ Studies have compared the Komatiite-associated deposits of the Shaw Dome with the Kambalda Dome (1) ▪ Similar to Shaw Dome High Grade, Kambalda Dome mined ~51Mt grading 3.1% Ni from 1968 to 2020 (2) ▪ Komatiite-associated Nickel sulphide deposits
Slide 45: Exploration Potential- location of Langmuir Cluster
Exploration Potential- location of Langmuir Cluster Shaw Dome Project Carshaw Mill Add’l High-Grade targets: Croxal, Redstone Trend CarLang A Zone “Langmuir Cluster” Next Slide Redstone Mill Hart Deposit W4 Deposit 45 Sources: Satellite Images
Slide 46: Exploration Potential- Langmuir Cluster- Plan View
Exploration Potential- Langmuir Cluster- Plan View EVNi Claims Langmuir North Mine Shaft Langmuir #2 Mine Historic Mill Footings Langmuir Mine Tailings South 46 Sources: Satellite Images
Slide 47: Exploration Potential- Langmuir Cluster- Long Section
Exploration Potential- Langmuir Cluster- Long Section Langmuir Langmuir #2 Langmuir South Mine North Mine Shaft- 446m deep “Upper” “Lower” 47
Slide 48: Exploration Potential- Langmuir Cluster- Long Section
Exploration Potential- Langmuir Cluster- Long Section Langmuir Langmuir #2 Langmuir South Mine North Abandoned Land “Upper” “Lower” 48
Slide 49: Exploration Potential- Langmuir #2 Upper- Detail
Exploration Potential- Langmuir #2 Upper- Detail • Originally drilled by INCO/Noranda in the 1960s and 1970s • Disseminated mineralization hosted in the hanging wall peridotites that were not mined as part of the operation • Consisting of generally lower grade zones, but uncertainty on style of mine
Slide 50: Exploration Potential- Langmuir #2 Lower- Detail
Exploration Potential- Langmuir #2 Lower- Detail • Originally drilled by INCO/Noranda in the 1970s, testing the down plunge mineralization below the 8 Level • Exploration of the area was suspended with the shut down of the mine in 1978 • Significant hits of high grade nickel mineralization associate
Slide 51: Presentation Sections
Presentation Sections Macro Case, Company Progression and Current Capital Table EVNi Team- Management and Board Shaw Dome- Intro and Current Mineralization Shaw Dome- Exploration Potential Clean Nickel™ Strategy and R&D 5 1
Slide 52: Clean Nickel: EVNi is rethinking each step
Clean Nickel TM : EVNi is rethinking each step • Our current plans start with: o Reliance on creative processing techniques, including Bioleaching o Analyzing Carbon Capture, through waste rock and tailings during mining, to expose the serpentinite rock to air to allow this material to absorb CO2 th
Slide 53: Clean Nickel: Smelting/Refining vs Bioleaching
Clean Nickel TM : Smelting/Refining vs Bioleaching Smelting/Refining is the traditional approach to recover nickel- applying heat to extract the metal • Heat is used to decompose the ore, driving off other elements as gases or slag and leaving the nickel • Inside the furnace, nickel-bearing sulphide
Slide 54: Clean Nickel: Bioleaching- detail
Clean Nickel TM : Bioleaching- detail Crushed Mined High Grade Nickel Aerated & Irrigated Through Concentrator, then… Hydroxide (or other) Heap Tank Bioleach Bioleach or Precipitated Pregnant Solution 54
Slide 55: Clean Nickel: Smelting/Refining vs Bioleaching
Clean Nickel TM : Smelting/Refining vs Bioleaching Nutrients/H 2SO 4 Typical Ontario Nickel Production Ore Pile Ni/Co Nickel Mine Crushing & Grinding ConcentrateSmelter Refinery Ore Ni/Co Nickel Product Concentrate Matte Rougher/Cleaner Example Mines: Flotation Raglan Mine 1,750km (boat-rail-truck
Slide 56: Clean Nickel: Smelting/Refining vs Bioleaching
Clean Nickel TM : Smelting/Refining vs Bioleaching Tank Bioleach Scenario (source: RPC) Nutrients/H SO 2 4 Nutrients/H 2SO 4 Ore Pile Ni/Co Concentrate Ore Pile Crushing & Grinding Rougher/Cleaner Ni/Co Flotation Concentrate Crushing & Grinding Rougher/Cleaner Flotation Primary/Secondary Bioleac
Slide 57: Clean Nickel: Bioleaching- what we've learned
Clean Nickel TM : Bioleaching- what we’ve learned • The Optimization Phase indicated >90% of the Ni and Co were extracted within 7 days • Measurements of the concentration of Ni, Co, Cu, Fe and Mg were monitored through the process and the resulting solution has been interpreted by RPC as being idea
Slide 58: Clean Nickel: Carbon Capture
Clean Nickel TM : Carbon Capture Greenhouse gases such as CO2 trap heat, causing temperatures to rise. To avoid the worst effects of climate change we need to decrease emissions and ideally remove CO2 that is already in the atmosphere. • Ultramafic rocks are well suited for this, containing minerals
Slide 59: Clean Nickel: Carbon Capture- Passive Testing
Clean Nickel TM : Carbon Capture- Passive Testing • Ambient carbonation, using naturally occurring CO2 levels, referred to as direct air capture (“DAC”), in the atmosphere mimics natural processes but increases the exposure of the minerals to the reactive CO2. CarLang A Zone: CO2 Captured vs Time CO
Slide 60: Clean Nickel: Carbon Capture- Enriched Analysis
Clean Nickel TM : Carbon Capture- Enriched Analysis • Samples were injected with 10% CO2 at a flow rate of 80mL/minute. Samples weighing 0.5g were collected after 2 and 7 days during the week-long experimental duration. TIC was analyzed on the material before exposure to CarLang A Zone: CO2 Captured
Slide 61: Clean Nickel: Carbon Capture- what we've learned
Clean Nickel TM : Carbon Capture- what we’ve learned • It was concluded by Arca that regardless of the approach taken to achieve carbonation, tailings from the Shaw Dome project have been shown to have significant carbon mineralization potential in proportion to the mine’s emissions. • Geologic samp
Slide 62: Methodology- Development & Approval
Methodology- Development & Approval ILLUSTRATIVE GHG Emissions Quantified GHG Emission Reductions + Monitoring & Data Collection Standards Baseline 1- Bioleach 2- Carbon 3- Material 4- Others Project Capture Movement Clean Nickel ™ Improvements 62
Slide 63: Clean Nickel R&D- Partners
Clean Nickel™ R&D- Partners The EPCM Group is a global engineering, procurement and construction management firm based in Oakville, Ontario. Established in 1980, they have a highly skilled global team includes mechanical, chemical, metallurgical, civil and electrical instrumentation engineers and de
Slide 64: R&D Funding sources
R&D Funding sources Critical Minerals Innovation Fund Ontario Junior Exploration Program (general exploration) NRC-Industrial Research Assistance Program Scientific Research and Experimental Development (SR&ED) tax incentives 64
Slide 65: EV Nickel Inc.
EV Nickel Inc. 200-150 King St West, Toronto, ON M5H 1J9, Canada info@evnickel.com TM
Slide 66: MRE Notes- CarLang A Zone
MRE Notes- CarLang A Zone 1. The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is Mr. Simon Mortimer, (FAIG #4083) of Atticus Geoscience Consulting S.A.C., working with Caracle Creek International Consulting Inc. The effective date of the Mineral Resource E
Slide 67: MRE Notes- W4 Zone
MRE Notes- W4 Zone 1. The independent Qualified Person for the MRE, as defined by NI 43-101, is Mr. Simon Mortimer, (FAIG #4083) of Atticus Geoscience Consulting S.A.C., working with Caracle Creek International Consulting Inc. The effective date of the MRE is June 9, 2023. 2. These Mineral Resources