Karus Mining Inc. · CSE:KARU
Karus Mining — Karus Gold — Investor Presentation (2023)
30 slides from Karus Mining's investor presentation, 2023
Slide 1: Rediscovering High-Grade in BC's Cariboo Gold District
SUMMER 2023 J n u a r y, 2 0 2 2 P R I VAT E C O M PA N Y G O L D A S S E T S REDISCOVERING HIGH-GRADE IN BC’S CARIBOO GOLD DISTRICT REDISCOVERING BC’S CARIBOO GOLD DISTRICT karusgold.com
Slide 2: Forward Looking Statements
2 Forward Looking Statements This presentation contains “forward-looking statements”, within the meaning of Section 27A of the United States expectations are based upon reasonable assumptions and has attempted to identify important factors that could Securities Act of 1933, as amended, Section 21E o
Slide 3: Karus Gold: Rediscovering BC's Cariboo Gold District
3 KARUS GOLD KARUS GOLD R E D I S C O V E R I N G B C ’s C A R I B O O G O L D DISTRICT • Cariboo Gold district re-emerging as top destination for gold exploration Private company gold assets DISTRICT SCALE LAND POSITION in the Cariboo Gold Region of • 1,000 km square of claims, second largest after
Slide 4: Karus Dominates the South Cariboo
4 OSISKO DEVELOPMENT CORP Karus Dominates the South Cariboo • Dominant 1,000 km1 claim position - 110 km of Eureka Thrust Trend associated with G O L D C R E E K gold mineralization Spanish Imperial • Hosts advanced FG Gold, Gold Creek plus Metals Mountain Gold multiple gold occurrences • Cariboo Go
Slide 5: Cariboo Renaissance
Osisko Development (ODV) 1 5 Cariboo (formerly Barkerville) M&I: 2.9Moz @ 4.7 g/t KARUS GOLD Inf: 2.5Moz @ 4.0 g/t Production Plan: 185 koz/yr (2023 target) Cariboo Renaissance OSISKO DEVELOPMENT CORP • Infrastructure, roads and labour ODV’s Bonanza Ledge II Quesnal M&I: 271 koz @ 4.4 g/t • Placer g
Slide 6: FG GOLD Project
6 OSISKO DEVELOPMENT FG GOLD Project CORP A D VA N C E D L A R G E S C A L E O R O G E N I C G O L D DEPOSIT • Historical gold resource1,2 • Drill programs have expanded the footprint of gold mineralization 330m down dip G O L D C R E E K • Core 3.6 km of mineralized trend open at Imperial Spanish M
Slide 7: FG GOLD: Large Scale Gold Exploration
7 FG GOLD L A RG E S C A L E G O L D E X P L O R AT I O N • 20 km prospective trend (orange / red) - Open downdip over regional scale - SW limb, Kusk and South Zones underexplored (orange) • Historical drilling1 has already outlined gold potential • Drilled as bulk disseminated deposit; it is not! •
Slide 8: FG GOLD: Multiple Gold Vein Corridors
8 FG GOLD MULTIPLE GOLD VEIN CORRIDORS • Repeating high-grade gold vein corridors • Past drill programs proved continuity – 7,140 meters in 18 holes • 700 meters defined along strike and open for further extensions • Deposit model suggest that deeper drilling will identify additional vein corridors
Slide 9: FG GOLD: New Ideas Are Driving
9 FG GOLD NEW IDEAS ARE DRIVING…. • Two high-grade vein corridors identified downdip from historical drilling • A third high-grade gold corridor identified (near-surface historical drilling) • Past drill programs extended and demonstrated continuity of gold mineralization in Corridor 1 Refer to NI 4
Slide 10: FG GOLD: Open to the Southeast
10 FG GOLD OPEN TO THE SOUTHEAST • Corridor 1 is open a further 700 meters to the southeast. Historical intercepts include: - 1.9 g/t gold over 43.5 meters including 6.5 g/t gold over 10.5 meters - 1.3 g/t gold over 43.3 metres including 4.6 g/t gold over 6 metres - 3.7 g/t gold over 58.5 metres inc
Slide 11: FG GOLD: Long Section
11 FG GOLD: Long Section Refer to NI 43-101 technical report dated November 26, 2021 “Technical Report on the South Cariboo Gold Property” filed on SEDAR and on the company website.
Slide 12: FG Gold High Grade Intercepts
12 FG Gold High Grade Intercepts Highlight Intercepts Hole From To Interval Au Grade (m) (m) (m) (Au g/t) FG-87-0542 29.7 42 12.3 18.89 FG-90-1402 17.0 33.5 16.5 11.10 FG-20-3851,3 139.0 156.7 17.7 3.34 including 142.3 147.6 5.3 10.16 FG-20-3781,3 195.9 258.3 62.3 1.67 including 195.9 202.5 6.6 9.69
Slide 13: Preliminary Vein Model
13 FG GOLD Preliminary Vein Model GOLD MINERALIZATION AT FG GOLD = CLASSIC SEDIMENT HOSTED OROGENIC GOLD MODEL • Gold mineralization is mobilized into quartz veining at the onset of deformation (pre-early D1) • Subsequent phases of deformation create into stacked veining in fold hinges
Slide 14: Vein Corridors
14 FG GOLD Vein Corridors S T RU C T U R A L VA L I DAT I O N • Outcrop scale exposure of re- folded quartz veins within small scale folds exhibit the same orientation as vein corridors. • Hinge zone and gold corridors plunge shallowly to northwest
Slide 15: Visible gold
Visible gold =| <4 : . o/s a ‘ ‘ : . * Ai < a » td -_- aa : v = 4 - ' : . 7 ey ‘* uy < 4, S F “an 2 305 VISIBLE GOLD ad F es... DRILL . 4 ¢ PROGRAM \ : # ay : ? ‘ x ~ +
Slide 16: Typical Core
16 FG GOLD Typical Core FG-20-385, 161.45m depth FG-20-379, 296m depth
Slide 17: FG GOLD: Multiple Opportunities on Strike
17 FG GOLD: Multiple Opportunities on Strike Eureka Syncline Open and largely untested along strike Extent of historic drilling focus Untested Over 20 km of hinge zone untested strike in the Eureka Syncline.
Slide 18: Gold Creek Project
18 OSISKO DEVELOPMENT CORP Gold Creek Project O R G E N I C G O L D D I S C O V E RY • Shallow discovery adjacent to Spanish Mountain Gold G O L D C R E E K • Hosts both high-grade and low-grade gold Spanish Imperial potential Metals Mountain Gold • Low elevation, road accessible exploration KARUS G
Slide 19: Camp Zone Soil Anomalies
19 GOLD CREEK Camp Zone Soil Anomalies Gold Creek’s Camp Zone is located on-trend from Spanish Mountain’s gold project. GOLD IN SOIL ARSENIC IN SOIL
Slide 20: Camp Zone Drilling
20 GOLD CREEK Camp Zone Drilling • Continuous Mineralization for over 1 km strike length • Tested to a depth of ~250 m B down-dip • Zone hosted primarily in wackes, appears to strike NW with a dip of ~-65˚ A For further details on drill results, refer to Karus Gold’s news release on January 19, 2022
Slide 21: Camp Zone Long Section
21 GOLD CREEK Camp Zone Long Section For further details on drill results, refer to Karus Gold’s news release on January 19, 2022.
Slide 22: South Cariboo Exploration Targets
22 South Cariboo Exploration Targets 2021 Re gional Progr am • 500 km2 covered • Sampling G O L D C R E E K - 281 rock assay (Au fire assay) - 31 whole-rock geochemistry - 511 Ah soil - 86 stream sediments F G - 201 white spruce bark G o l d
Slide 23: South Cariboo Exploration Targets
23 South Cariboo Exploration Targets TEP • 1988 - Trench – 3.8g/t Au over 13 m1 G O L D C R E E K For ks • 1989 - Surface Sample – 3.4 g/t Au2 Offset Lake • 1987 - ~1000m x 150m long arsenic in soil anomaly3 Lo/Hen F G G o l d • 2008 Drilling – 0.39 g/t Au over 33.8m, incl. 0. 5 m of 15.7 g/t Au4 1.
Slide 24: Capital Structure
24 Capital Structure LARGE SHAREHOLDERS Ownership Issued & Outstanding (basic) 90.9 M Warrants 1.4 M Public Insiders 40% Options (all at $0.25 per share) 10.3 M 29% RSU’s 2.6 M Fully Diluted 105.2 M All data as at August 25, 2022 Eric Sprott Yamana 25% 6%
Slide 25: Contact Us
Contact Us I N V E S T O R R E L AT I O N S KarusGold.com 1-888-455-7620 info@karusgold.com
Slide 26: Corporate Social Responsibility
26 Corporate Social Responsibility H E A LT H & S A F E T Y Everyone safe, all the time COMMUNITY Committed to working together ENVIRONMENT Protecting our future together GOVERNANCE Conducting business ethically and in a transparent manner
Slide 27: Historical resource
27 Historical resource 2015 Resource Estimate1 Zone Classification Tonnage Grade Contained Metal (Mt) (Au g/t) (Au koz) Measured 5.60 0.812 145.0 Main Indicated 9.57 0.755 231.0 M&I 15.17 0.776 376.0 Main Inferred 8.27 0.670 177.0 NW Inferred 19.18 0.740 457.0 SE Inferred 0.04 0.632 0.9 INFERRED 27.
Slide 28: Gold Creek: 2020 Drill Program Highlight Intercepts
28 Gold Creek 2020 Drill Program – Highlight Intercepts1 BHID From To Interval Au Grade 2,3 (m) (m) (m) (Au g/t) GC-21-049 101.6 182.25 80.65 0.49 including 112.9 159.3 46.4 0.74 GC-21-048 193.4 266.75 73.35 0.44 including 223.2 251.0 27.8 0.83 GC-21-047 180.4 228.5 48.1 0.31 GC-21-046 215.1 261.33
Slide 29: FG Gold: 2020 Drill Program Highlight Intercepts
29 FG Gold 2020 Drill Program – Highlight Intercepts1 From To Interval Au Grade 2,3 BHID (m) (m) (m) (Au g/t) FG-20-373 23.0 64.0 41.0 2.97 including 35.0 57.0 22.0 5.23 FG-20-383 111.0 174.0 63.0 1.47 including 116.6 172.5 55.9 1.61 including 127.6 165.0 37.4 1.93 FG-20-385 139.0 156.7 17.7 3.34 in
Slide 30: FG Gold: 2021 Drill Program Highlight Intercepts
30 FG Gold 2021 Drill Program – Highlight Intercepts1 From To Interval 2.3 Au Grade 4 BHID Zone (m) (m) (m) (Au g/t) FG-21-391 245.5 249.14 3.64 0.77 FG-21-393 Corridor 1 218.1 273.5 55.4 0.63 including 4.5 2.00 FG-21-394 New 126.9 135.3 8.4 1.55 and New 217.5 229.4 11.9 1.55 and Corridor 1 242 269.