Newcore Gold Ltd. · TSXV:NCAU
Newcore Gold — Investor Presentation (December 2024)
28 slides from Newcore Gold's investor presentation, Dec 11, 2024
Slide 1: 2024 Year in Review & Future Outlook
Luke Alexander | Greg Smith Mal Karwowska_/ President & CEO VP Exploration VP Corporate Development &IR & 2024 YEAR IN REVIEW & FUTURE OUTLOOK TSX-V: NCAU | OTCQX: NCAUF (®) NEWCORE newcoregold.com
Slide 2: In the Business of Gold
IN THE BUSINESS OF GOLD TSX-V: NCAU OTCQX: NCAUF 2024 YEAR IN REVIEW & FUTURE OUTLOOK December 11, 2024
Slide 3: Forward Looking Statements
| FORWARD LOOKING STATEMENTS This presentation is provided for informational purposes only and the opinions expressed are based upon Newcore Gold strategy as identified in the “Risks Factors” section of Newcore’s Annual Information Form filed on April 17, 2024 and Ltd.’s (“Newcore” or the “Company”)
Slide 4: Newcore - Advancing the Enchi Gold Project in Ghana
| NEWCORE - ADVANCING THE ENCHI GOLD PROJECT IN GHANA PROVEN TEAM | 18% Equity Ownership Top-tier leadership with a successful track record in the industry and strong institutional investor support GOLD ASSET | Resource Underpinned with PEA Advancing the 100%-owned Enchi Gold Project in Ghana, locat
Slide 5: Ghana - Pro-Development with Production Growth
| GHANA - PRO-DEVELOPMENT WITH PRODUCTION GROWTH • Strong presence of senior gold producers, 3 of the top 10 operating in-country 1. China 2. Russia • Zijin acquisition of Akyem from Newmont will add a fourth major gold producer 3. Australia 4. Canada 5. U.S. 6. Ghana 7. Indonesia 8. Peru Top • Stro
Slide 6: Newcore Gold - Significant Achievements in 2024
| NEWCORE GOLD - SIGNIFICANT ACHIEVEMENTS IN 2024 ✓ Announced strong PEA study results for the Enchi Gold Project • • Robust PEA highlights potential to build a technically simple, open pit, heap leach mine with low capital intensity ✓ 10,000 Metre drill program commenced at the Enchi Gold Project •
Slide 7: Newcore Gold - Corporate Snapshot
| NEWCORE GOLD - CORPORATE SNAPSHOT Share Structure and Market Valuation Share Ownership Basic Shares Outstanding 208.6M High Net Worth & Warrants Outstanding 37% 9.6M Retail Investors (exercise price of $0.40, expire Sep 26, 2025) Options Outstanding 13.3M RSUs/PSUs Outstanding 3.7M Fully Diluted S
Slide 8: PEA Results
PEA RESULTS Strong Project Economics with Low Capital Intensity
Slide 9: Enchi Gold Project - Simple, Open Pit, Heap Leach Project
| ENCHI GOLD PROJECT - SIMPLE, OPEN PIT, HEAP LEACH PROJECT • Results for the 2024 PEA at Enchi highlight the potential for a technically straightforward, low capital intense, open pit, heap leach operation with strong economics, a short payback period and leverage to the gold price • Study led by L
Slide 10: PEA Production & Cost Profile
| ENCHI GOLD PROJECT - PEA PRODUCTION & COST PROFILE • Robust production profile with a low-cost structure driven by a technically straightforward, open pit, heap leach operation with a low strip ratio utilizing contract mining Crusher Installation ANNUAL GOLD PRODUCTION 160,000 Years 4 & 5 155,188
Slide 11: PEA After-Tax Cash Flow Profile
| ENCHI GOLD PROJECT - PEA AFTER-TAX CASH FLOW PROFILE • Robust cash flow profile with short after-tax payback period of 1.6 years at a gold price of US$1,850/oz • Strong leverage to gold prices, after-tax payback drops to 1.1 years at a gold price of US$2,350/oz Cumulative After-Tax Cash Flow (US$M
Slide 12: Enchi Gold Project - PEA Leverage to Gold Price
| ENCHI GOLD PROJECT - PEA LEVERAGE TO GOLD PRICE • Robust project economics provide strong leverage to the gold price with a quick payback period • As a result of low capital intensity, economics also remain robust in a lower gold price environment (US$ where applicable) BASE CASE RECENT Gold Price
Slide 13: Metallurgical Testwork
METALLURGICAL TESTWORK Enchi Amenable to Heap Leach Processing
Slide 14: Metallurgy Testwork Summary
| ENCHI GOLD PROJECT - METALLURGY TESTWORK SUMMARY • Metallurgical testwork indicates strong recoveries, amenability to heap leach processing Column Tests • Average gold recovery of 81.8% used in PEA (85% oxide/transition, 75% sulphide) • Extensive testwork completed, projected overall recoveries es
Slide 15: Recent Testwork Highlights
| ENCHI GOLD PROJECT - RECENT TESTWORK HIGHLIGHTS • Seven column tests on oxide mineralization from Sewum and Boin (2024) achieved an average gold recovery of 93.0% • 90 to 120-day tests, gold recoveries ranged from 82.6% to 97.2% • Overall average assayed grade of 0.56 g/t Au, range of 0.32 to 0.84
Slide 16: 10,000-Metre Drill Program
10,000-METRE DRILL PROGRAM Resource Growth and Infill Program
Slide 17: Enchi Gold Project - 10,000-Metre RC Drill Program
| ENCHI GOLD PROJECT - 10,000-METRE RC DRILL PROGRAM • Resource growth and infill drill program underway, targeting near-surface oxide and shallow sulphide mineralization • Primary goal of infill drilling for resource conversion to improve the confidence level of the existing Mineral Resource Estima
Slide 18: Results from Drilling at Boin
| ENCHI GOLD PROJECT - RESULTS FROM DRILLING AT BOIN • Highest-grade gold interval to date intersected at Enchi, drilled on the central portion of Boin (KBRC301) • Drilling continues to also encounter wide zones of higher-grade mineralization in the sulphides (KBRC307A) TSX-V: NCAU | OTCQX: NCAUF |
Slide 19: Results from Drilling at Boin
| ENCHI GOLD PROJECT - RESULTS FROM DRILLING AT BOIN • Drilling encountering mineralization outside of the current limits of the pit constrained Mineral Resource Estimate, with a number of holes also ending in mineralization (KBRC288, KBRC294) • Gold mineralization intersected in all drill holes rel
Slide 20: Exploration Upside Longer-Term
EXPLORATION UPSIDE LONGER-TERM District Scale Opportunity in Elephant Country
Slide 21: Gold Project with Size and Scale Potential
| ENCHI - GOLD PROJECT WITH SIZE AND SCALE POTENTIAL • Established Gold Resource, shallow oxide resources open for expansion along strike and at depth • 743,500 ozs Indicated resource at 0.55 g/t, 972,000 ozs Inferred resource at 0.65 g/t* • District Scale Exploration, 248 km2 property with +25 targ
Slide 22: On Trend with Prominent Gold Mines in Ghana
| ENCHI - ON TREND WITH PROMINENT GOLD MINES IN GHANA Sefwi-Bibiani Belt Newmont - Ahafo 20.0Moz Asante - Bibiani 6.5Moz Asante - Chirano 5.5Moz Afema 2.0Moz Newcore Gold - Enchi* 743,500 ozs Indicated 972,000 ozs Inferred Pelangio - Manfo 500koz Ashanti Belt ENCHI AngloGold - Obuasi 66Moz Gold Fiel
Slide 23: Depth Potential - Chirano Comparable
| ENCHI DEPTH POTENTIAL - CHIRANO COMPARABLE • Asante’s Chirano Gold Mine, located ~50 km northeast of Enchi, hosts plunging zones of high-grade gold mineralization with gold zones and geology comparable to Enchi • Chirano has been in production since 2004, both open pit and underground operations,
Slide 24: Future Outlook
FUTURE OUTLOOK What’s Next for Newcore and the Enchi Gold Project?
Slide 25: Newcore Gold - Unlocking the Value Potential at Enchi
| NEWCORE GOLD - UNLOCKING THE VALUE POTENTIAL AT ENCHI 10,000 METRE DRILLING PROGRAM Drilling Underway focused on infill and resource expansion at Newcore’s Enchi Gold Project in Ghana FUNDED FOR NEAR-TERM DEVELOPMENT $8.2 million cash and equivalents at September 30 2024, funded for near-term deve
Slide 26: Key Takeaways
KEY TAKEAWAYS Top-Tier Management & Board Own 18% of Equity Strong Capital Structure Strong Institutional Investor Support Established Resource Base Multi-Million-Ounce Gold District Robust PEA with Low Capital Intensity Technically Simple, Open Pit, Heap Leach District-Scale Exploration Significant
Slide 27: Learn More About the Newcore Opportunity
IN THE LEARN MORE ABOUT THE NEWCORE OPPORTUNITY BUSINESS OF GOLD CONTACT INFORMATION Mal Karwowska, VP, Corporate Development & IR TSX-V: NCAU Office: +1 (604) - 484 - 4399 Email: info@newcoregold.com OTCQX: NCAUF www.newcoregold.com Linkedin, logo icon Circle, facebook icon Channel, circle, logo, m
Slide 28: Enchi Gold Project Technical Disclosure
| ENCHI GOLD PROJECT TECHNICAL DISCLOSURE 2023 Mineral Resource Estimate 2024 Preliminary Economic Assessment (“PEA”) 1. Canadian Institute of Mining Metallurgy and Petroleum ("CIM") definition standards were followed for the 1. The PEA was announced on April 25, 2024 and is based upon the Company’s