Stillwater Critical Minerals Corp · TSXV:PGE
Stillwater Critical Minerals — Investor Presentation (July 2024)
43 slides from Stillwater Critical Minerals's investor presentation, Jul 5, 2024
Slide 1: The Future of U.S. Critical Minerals Supply
TSX-V: PGE OTCQB: PGEZF FSE: J0G The Future of U.S. Critical Minerals Supply J ULY 2024 TSX: PGE.V CRITICALMINERALS.COM OTCQB: PGEZF 1 FSE: 5D32
Slide 2: Forward-Looking Statements
Forward-Looking Statements TSX-V: PGE OTCQB: PGEZF FSE: J0G FORWARD-LOOKING INFORMATION CAUTIONARY NOTE TO U.S. INVESTORS REGARDING RESOURCE This presentation contains certain forward-looking statements that reflect the current views and/or expectations of ESTIMATES Stillwater Critical Minerals Corp
Slide 3: The Need For Domestic Supply of Critical Minerals
TSX-V: PGE OTCQB: PGEZF FSE: J0G The Need For Domestic Supply of Critical Minerals Most of the world’s nickel Reliance on imported comes from Indonesia critical minerals poses a and carries much higher The US environmental and China controls threat to the national government set humanitarian costs t
Slide 4: Critical Mineral Supply in the USA
TSX-V: PGE OTCQB: PGEZF FSE: J0G Vision Critical Mineral Supply in the USA The Largest Nickel Project In An Active U.S. Mining District Stillwater Critical Minerals is focused on advancing world-class resources of critical minerals at our flagship Stillwater West Ni-Cu-Co-PGE + Au project in the ico
Slide 5: Success in Advancing Major Mining Projects
Directors, Management, Senior Technical TSX-V: PGE OTCQB: PGEZF FSE: J0G Success in Advancing Major Mining Projects Michael Rowley Greg Johnson Gordon Toll President & CEO, Director Executive Chairman Independent Director Co-founder of Stillwater Critical Minerals with over 30 years More than 30 yea
Slide 6: Advisory & Corporate Team
TSX-V: PGE OTCQB: PGEZF FSE: J0G Our People Advisory & Corporate Team Justin Modroo, P.Geo. 24+ years industry experience, including Stillwater Complex work Project Geophysicist with Premium Exploration and Beartooth Platinum Mike Ostenson, P.Geo. 24+ years experience in the Stillwater district. Sen
Slide 7: Strategic Investment
Strategic Investment TSX-V: PGE OTCQB: PGEZF FSE: J0G 15.4% Ownership May 2024 Glencore is a global expert in nickel and one of the Glencore’s Nickel Operations world’s largest natural resource companies Key terms Raglan Nikkelverk $7.04 million investment by Glencore to date Sudbury with an option
Slide 8: Top Industry Expertise
TSX-V: PGE OTCQB: PGEZF FSE: J0G Our Partners Top Industry Expertise Technical committee formed as part of June 2023 strategic investment Data sharing agreement brings access to a broader database, cutting-edge analytical techniques, and US government initiatives Potential for carbon sequestration t
Slide 9: Portfolio & Strategy
TSX-V: PGE OTCQB: PGEZF FSE: J0G Our Projects Portfolio & Strategy KLUANE PGE-Ni-Cu Yukon ▪ Focus on flagship Stillwater West project ▪ 100% ownership on three district-scale assets that are adjacent to world-class mines/deposits ▪ 100% ownership on Duke Island Ni-Cu-PGE project (AK), and back-in ri
Slide 10: Resource Estimate
Resource Estimate TSX-V: PGE OTCQB: PGEZF FSE: J0G Expansion Announced January 2023 World-class grade and scale BATTERY METALS PGE + GOLD (4E) in a producing American ▪ 62% increase driven district by a modest drill program ▪ Low discovery cost BASE CASE 1.64 Blbs 3.81 Moz ▪ Significant expansion 0.
Slide 11: High-Demand Commodities
High-Demand Commodities TSX-V: PGE OTCQB: PGEZF FSE: J0G Attractive and ‘Internally Hedged’ Blend at Stillwater West1 Nickel Copper 1.05 Blbs 499 Mlbs Nickel demand continues to Cobalt A deficit in copper 9.0% grow, driven by EV and alloy concentrate supply is projected for 2024. By the demand. Grow
Slide 12: Montana - Resource Industries
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Montana - Resource Industries ALBERTA Long history of mineral wealth: • Oil, gas, coal, and mining are major revenues for the state • 1852 gold rush • Dominant North American copper producer by WWI Hog Heaven (Ag, Au, Cu, Pb, Zn) • Major source of cop
Slide 13: Stillwater District
Stillwater District TSX-V: PGE OTCQB: PGEZF FSE: J0G Over a Century of Critical Minerals Production Core Shack Stillwater Critical Minerals Tailings Sibanye-Stillwater Blitz Mine Sibanye-Stillwater Mountainview Mine Historic Chromium Mine Stillwater Mill Sibanye-Stillwater Stillwater Mine Sibanye-St
Slide 14: Stillwater District
Stillwater District TSX-V: PGE OTCQB: PGEZF FSE: J0G Mines, Infrastructure and Land Status Smelter, Refinery & Recycling Complex - Columbus, MT (60 km) Stillwater Layered Complex: • One of the five largest mafic-ultramafic layered J-M Reef Deposit (Sibanye-Stillwater) complexes in the world • 40km x
Slide 15: Correct Location in a World-Class Complex
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Correct Location in a World-Class Complex The Stillwater complex shares many similarities with South Africa’s Bushveld complex ▪ The J-M Reef was discovered in the 1970s based on parallels with similar deposits in the Bushveld complex ▪ Stillwater Cri
Slide 16: Platreef-style Deposits
Platreef-style Deposits TSX-V: PGE OTCQB: PGEZF FSE: J0G The World’s “Porphyry-Scale” Nickel and PGE Deposits Ivanhoe Mines Platreef Deposit Mogalakwena “Platreef” Deposit (Anglo American) Platreef-style 8 Blbs Ni+Cu & 95 Moz PGEs1 15 Blbs Ni+Cu & 152 Moz PGEs2 deposits The two mines on the Platreef
Slide 17: Multiple Deposits with Kilometer-Scale Expansion Potential
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Multiple Deposits with Kilometer-Scale Expansion Potential HGR & CRESCENT DEPOSITS 610 Mlbs Ni, Cu, Co 977 Koz PGEs + Au Large conductivity and 0.20% NiEq Cut-off chargeability anomalies correspond with sulphide CHROME MOUNTAIN mineralization in drill
Slide 18: High-Grade Drill Highlights
Stillwater West DR/HYBRID DEPOSIT TSX-V: PGE OTCQB: PGEZF FSE: J0G 11 High-Grade Drill Highlights (CM2021-05) 13.2m of 2.89% NiEq (2.31% Ni, 0.35% Cu, 0.115% Co, 1.51 g/t 4E) 22 CZ DEPOSIT (CZ2021-01) 401m Continuous Mineralization 63.7m of 0.86% NiEq HGR DEPOSIT Pine 1 (0.47% Ni, 0.42 g/t Pd, 0.27%
Slide 19: District-Scale System: 14 Target Areas
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G District-Scale System Fugro DIGHEM EM Survey <75 150 Conductance (Conductivity) 14 Target areas 200 56kHz Apparent Resistivity 800 (ohm-meters) 1500 2500 >5000 Defined by major conductive high anomalies with broad, coincident soil East Target Area Pic
Slide 20: Stillwater West: Geophysics, Resources and Drill Results
Stillwater West GEOPHYSICS TSX-V: PGE OTCQB: PGEZF 2023 MINERAL RESOURCE ESTIMATES FSE: J0G 12-Kilometer Anomaly Only Resistivity at 2,600m ohm-meters <26 DRILL RESULTS Reported as Total Equivalent Grade-Thickness (Ni and Pd) Full 3E Data Base Metal Block Model Outlines PLANNED EXPANSION DRILL HOLES
Slide 21: 3D Model – Chrome Mountain
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G 3D Model – Chrome Mountain Stillwater Igneous Complex Stratigraphy Norite I Zone Bronzitite Zone Peridotite Zone Basal Bronzitite Zone Basal Metasediment 1 km Drill Data CM2007-07 CM2007-06 CM2007-08 CM2007-10 CM2021-05 The Peridotite Zone of the Stil
Slide 22: Soil Geochemistry
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G PRECIOUS METALS Soil Geochemistry (Pt, Pd, Au) SOIL GEOCHEMISTRY Pt + Pd + Au (ppb) >200 75 – 200 Highly anomalous precious 50 – 75 25 – 50 BAN and base metal values 15 – 25 5 – 15 Hybrid HGR BZ PZ DR cover 25km strike in lower Central Crescent HF Sti
Slide 23: Long-Section – Geophysics (IP Survey and MVI)
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Long-Section – Geophysics (IP Survey and MVI) MVI Model >0.01 SI Conductivity (IP) <100 ohm*m 22 km Chargeability (IP) >45 mV/V NI43-101 Deposit at 0.20% NiEq cutoff 7 km Chrome Mtn Iron Mtn Feeder? Very large-scale Magnetic Vector Inversion, conducti
Slide 24: Milestones and Catalysts
Milestones and Catalysts TSX-V: PGE OTCQB: PGEZF FSE: J0G • $3.9M Glencore-led financing • 2023 drill results • Kluane project updates • Heritage Mining updates • Resource update • 2024 expansion plans • Metallurgical studies TSX: PGE.V OTCQB: PGEZF 24 FSE: 5D32
Slide 25: Capital Structure
Capital Structure TSX-V: PGE OTCQB: PGEZF FSE: J0G And relative share price performance Share price (as of July 5, 2024) C$0.16 Shares issued & outstanding 225M Platinum Options (average exercise price: $0.25) 19M TSV Venture Warrants (average exercise price: $0.33) 57M PGE.V Fully diluted shares 30
Slide 26: Summary
Summary TSX-V: PGE OTCQB: PGEZF FSE: J0G Completed recent drill program backed by Glencore funding Team includes ex Ivanhoe geologists & Platreef experts The largest nickel project in an active Active, historic, and famously metal-rich district U.S. mining district Potential to be World-class minera
Slide 27: The Metallic Group
The Metallic Group A Collaboration of Leading, Independent Exploration Companies Experience with leading Building on a proven model for A Track Record of explorers, developers and value creation Discoveries producers Board and Management with Credited with the discovery extensive experience in and a
Slide 28: Appendix I
TSX-V: PGE OTCQB: PGEZF FSE: J0G Appendix I TECHNICAL TSX: PGE.V OTCQB: PGEZF 28 FSE: 5D32
Slide 29: Timing – Project Stage
Timing – Project Stage TSX-V: PGE OTCQB: PGEZF FSE: J0G Typical Enterprise Value by Stage The Lassonde Curve: Company Development PEA Stage PFS Stage Feasibility Stage Stages & Value Creation $10-25/oz Au $25-50/oz Au $50-$100/oz Au $1-$3/oz Ag $3-$5/oz Ag $5-$10/oz Ag 1%-2% in-situ value 2%-3% in-s
Slide 30: Five Deposits with Kilometer-Scale Expansion Potential
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Five Deposits with Kilometer-Scale Expansion Potential Large conductivity and chargeability anomalies correspond with sulphide CHROME MOUNTAIN mineralization in drilled areas Pine Drill-defined high-grade gold Includes IM2019-03: 26.8m @ 0.34% Ni, 0.1
Slide 31: Select Drill Results
Stillwater West S E L E C T D R I L L R E S U L T S TSX-V: PGE OTCQB: PGEZF FSE: J0G Kilometer-Scale Expansion Potential Shown in 1 DR/HYBRID DEPOSIT AT CHROME 2 CZ DEPOSIT AT IRON MTN 3 HGR DEPOSIT AT IRON MTN MTN (CM2021-05) (CZ2021-01) (IM2021-05) Coincident Geophysical and Soil Anomalies Over 13
Slide 32: Chrome Mountain - DR/Hybrid Deposit
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Chrome Mountain - DR/Hybrid Deposit Resource Models with Select Drill Results CM2023-02: CM2007-07: • Significant potential to CM2020-04: 215m @ 0.20% NiEq including 226m @ 0.30% NiEq including 23.8m @ 0.51% NiEq 13.9m @ 0.39% NiEq and expand existing
Slide 33: CZ and Central Deposit Areas
Stillwater West TSX-V: PGE OTCQB: PGEZF • Significant expansion at low discovery cost in 2023 FSE: J0G CZ and Central Deposit Areas – Iron Mountain resource update • IP survey guided drill campaign to high grades and IM2008-03 wide mineralized widths 355-54 355-24 • Open in all directions - further
Slide 34: HGR Deposit Area
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G • Significant expansion at low discovery cost in 2023 HGR Deposit Area - Iron Mountain resource update • IP survey guided drill campaign to high grades and PLAN VIEW wide mineralized widths IM2019-03: • Open in all directions - further expansion poten
Slide 35: Expansion Drill Results with 2023 Resources Over Geophysics
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G DRILL RESULTS Reported as Total Equivalent Grade-Thickness (Ni and Pd) Expansion Drill Results with 2023 Resources Over Geophysics GEOLOGIC BOUNDARIES: NiEq %-m Full 3E Data Base Metal Data Only Data Only PdEq g-m BAN < 10 < 25 BAN – Banded Series 10
Slide 36: Expansion Drill Results Over Metals-in-Soil Anomalies
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Expansion Drill Results with 2023 Resources Over Multi-Kilometer-Scale Metals-in-Soil Anomalies Palladium-Platinum-Gold SOIL GEOCHEMISTRY BAN Pt + Pd + Au (ppb) Palladium-Platinum-Gold in Soil >200 75 – 200 50 – 75 25 – 50 BAN HGR BZ 15 – 25 5 – 15 Bl
Slide 37: 2023 Resource Outlines Over Geology
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G 2023 Resource Outlines Over Geology DRILL RESULTS Reported as Total Equivalent Grade-Thickness (Ni and Pd) Full 3E Data Base Metal NiEq %-m Data Only Data Only PdEq g-m < 10 < 25 10 - 20 25 - 50 20 - 35 50 - 100 35 - 75 100 - 200 HGR > 75 > 200 Block
Slide 38: Stillwater West MVI Susceptibility
Stillwater west TSX-V: PGE OTCQB: PGEZF FSE: J0G Kilometer-Scale Magmatic Targets in a Famously Metal-Rich District J-M Reef Deposit (Sibanye-Stillwater) MVI Susceptibility Chrome Wild West Mountain Iron CZ Mountain Magmatic Targets Crescent Magmatic Targets 2 km depth Long-section through Stillwate
Slide 39: Appendix II
TSX-V: PGE OTCQB: PGEZF FSE: J0G Appendix II OTHER ASSETS TSX: PGE.V OTCQB: PGEZF 39 FSE: 5D32
Slide 40: Drayton - Black Lake
Drayton - Black Lake TSX-V: PGE OTCQB: PGEZF FSE: J0G Earn-In Deal With Heritage Mining on High-Grade Gold Project in Active Rainy River District OVERVIEW • 142 km2 land package adjoining Treasury Metals’ +3Moz Goliath Gold Complex Stillwater Critical Minerals • 30km of underexplored Archean greenst
Slide 41: Kluane PGE-Ni-Cu project
Kluane PGE-Ni-Cu project TSX-V: PGE OTCQB: PGEZF FSE: J0G Premier land position in an emerging, world-class Canadian PGE-Ni-Cu district OVERVIEW • Kluane Mafic-Ultramafic belt extends 600 km from northern British Columbia to central Alaska and hosts known PGE-Ni-Cu deposits Kluane PGE-Ni-Cu Projects
Slide 42: Other Assets
Other Assets TSX-V: PGE OTCQB: PGEZF FSE: J0G Duke Island (SE Alaska) Yankee-Dundee Mine (SE British Columbia) Significant Cu-Ni-PGE asset available for deal Potential Royalty Revenues, Back-in Rights • 100% owned • Stillwater consolidated the historic Ymir Camp, once the largest • Significantly ele
Slide 43: Stillwater Critical Minerals Corp.
TSX-V: PGE OTCQB: PGEZF FSE: 5D32 Stillwater Critical Minerals Corp. Suite 904 - 409 Granville Street Vancouver, BC, Canada, V6C 1T2 Email: info@criticalminerals.com Tel: 604.357.4790 Toll Free: 888.432.0075 CRITICALMINERALS.COM @Stillwater_CM TSX: PGE.V OTCQB: PGEZF 43 FSE: 5D32
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