Aurion Resources — Investor Presentation (January 2023)
37 slides from Aurion Resources's investor presentation, January 2023
Slide 1: Discovering the Next Major Gold Camp
TSXV: AU; OTCQX: AIRRF DISCOVERING THE NEXT MAJOR GOLD CAMP Corporate Presentation January 2023
Slide 2: Forward-Looking Information
Forward-Looking Information This presentation may contain "forward-looking information" (as defined in applicable Canadian securities legislation). Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect",
Slide 3: Discovering the Next Major Gold Camp
Discovering the Next Major Gold Camp High-Grade: 789 g/t over 2.9 m; Exceptional Footprint: 8,500+ District Scale: 1,000 km2 Top 10 holes avg 355 g*m samples averaging 6.0 g/t Au Majors Invested: Kinross, Top Jurisdiction: Finland Cheap Relative Valuation Newmont Goldcorp and B2Gold 3
Slide 4: Ownership and Capital Structure
Ownership and Capital Structure ▪ 117.9 M shares / 7.9 M options/ 1.57 M broker warrants ▪ Market Cap: ~C$70.7 M (As of December 31, 2022) ▪ Well-Funded: ▪ Working Capital ~C$15.2 M as of September 30, 2022 Eric Sprott 4
Slide 5: Expensive to Cheap – Despite Continued Success
Expensive to Cheap – Despite Continued Success Sept 7, 2017 – Kinross Investment July 10, 2019 – Eric Sprott Investment Oct 25 – Helmi Discovery on JV Property Today Sept 18, 2018 – Hole 42: 789 g/t Au over 2.9 m Feb 1, 2017 – Boulder Discovery 5
Slide 6: Opportunity – Closing the Valuation Gap
Opportunity – Closing the Valuation Gap Compared to peers Aurion trades at a discount ▪ Large land package ▪ High-grade gold ▪ Orogenic system ▪ Safe jurisdiction ▪ Tight share count Share Price (C$) $5.45 $4.98 $2.94 $1.70 $0.35 $0.18 $0.60 $0.93 $0.70 $0.30 Basic Shares O/S (M) 175.4 191.4 132.2 5
Slide 7: Finland – Like Discovering Timmins 110 Years Ago
Finland – Like Discovering Timmins 110 Years Ago 7
Slide 8: Finland – A Top Jurisdiction with Untapped Potential
Finland – A Top Jurisdiction with Untapped Potential Total Resources of the known orogenic Size comparison of the CLGB to Norseman-Wiluna, gold deposits in greenstone belts Abitibi, and Zimbabwe Craton greenstone belts Zimbabwe Craton ~40Moz Norseman – Wiluna ~75Moz Abitibi ~85Moz Central Lapland <1
Slide 9: First Mover Advantage – District Scale Land Position
First Mover Advantage – District Scale Land Position Interests in ~1,000 km2 of land in the Central Lapland Greenstone Belt ▪ Risti (100%): ~167 km2 ▪ Launi (100%): ~140 km2 ▪ B2Gold JV: ~384 km2 ▪ Kutuvuoma-Ikkari, Sinermä, Kuortis, Ahvenjarvi ▪ Kinross JV: ~53 km2 ▪ Strategic Resources: 18.3% owne
Slide 10: Emerging Gold Camp – Over 20 Discoveries Since 2016
Emerging Gold Camp – Over 20 Discoveries Since 2016 Pre 2016 Today Kutuvuoma Pahtavaara Kutuvuoma Pahtavaara Ikkari Helmi Aamurusko Aurion 100 % owned properties B2Gold JV property 10
Slide 11: Rupert's US$1.6 Billion Ikkari Project
Rupert’s US$1.6 Billion Ikkari Project May 12, 2020 – Ikkari Discovery • 1.8 g/t Au over 137 m ▪ Large Resource: 3.68 Moz indicated resource and 710 koz inferred resource ▪ PEA Study: After-Tax NPV(5%) of US$1.6B and IRR of 46% using a US$1,650/oz gold price ▪ Headline Intercepts: 4.40 g/t Au over 1
Slide 12: JV with B2Gold – Helmi Discovery
JV with B2Gold – Helmi Discovery ▪ Maiden drill program completed in 2021, 20 holes, 5,201.5 m ▪ Follow up drill program in 2022 expanded to ~17,000 m ▪ Gold mineralization intersected along 2 km strike and extend to at least 500 m depth ▪ Highlight intercepts: ▪ 2.05 g/t Au / 77.50 m ▪ 2.44 g/t Au
Slide 13: JV with B2Gold – Helmi Discovery
JV with B2Gold – Helmi Discovery 13
Slide 14: JV with B2Gold – Helmi-Ikkari-Kutuvuoma Corridor
JV with B2Gold – Helmi-Ikkari-Kutuvuoma Corridor 7 km 14
Slide 15: JV with B2Gold – Multiple Discoveries
JV with B2Gold – Multiple Discoveries ▪ JV: B2Gold 70%, Aurion 30% ▪ Large land package ~384 km2 ▪ Multiple gold prospects ▪ 2022: C$13.5 M incl. ~17,000 m of drilling ▪ Focus on Helmi Discovery and Kutuvuoma-Ikkari corridor 15
Slide 16: Risti – Transitioning Focus from Sediments to Volcanics
Risti – Transitioning Focus from Sediments to Volcanics ▪ ~20 targets identified along domain boundaries, using ▪ Over 8,500 samples averaging ~ 6 g/t Au Base of till sampling and geophysics ▪ Tens of kms of prospective structural ▪ Key tool in discovery of Ikkari (Rupert Resources), trends to be ex
Slide 17: Risti & Launi – Extensive Surface Footprint
Risti & Launi – Extensive Surface Footprint Ikkari ▪ Analogous in size and geology to major gold camps Helmi Aamurusko 25 million oz ~ 5 km Timmins Main: 100 plus years of deep drilling and mining to depths > 2 km have produced > 72 million ounces of gold ~ 6 km 17
Slide 18: Risti – Aamurusko – Near-Surface Gold Mineralization
Risti – Aamurusko – Near-Surface Gold Mineralization Aamurusko NW Gap Zone Aamurusko Main ▪ 9.42 g/t Au over 28.22 m ▪ 4.64 g/t Au over 3.10 m ▪ 789.06 g/t Au over 2.90 m ▪ 23.41 g/t Au over 11.10 m ▪ 1.69 g/t Au over 7.75 m ▪ 42.28 g/t Au over 4.00 m ▪ 6.84 g/t Au over 19.00 m ▪ 8.63 g/t Au over 0.
Slide 19: Finally … The End of Helicopters
Finally … The End of Helicopters 19
Slide 20: Risti – Aamurusko – Multiple Targets for Expansion
Risti – Aamurusko – Multiple Targets for Expansion ▪ 80% of holes intersected over 1.0 g/t Au ▪ 51% of holes intersected over 3.0 g/t Au ▪ 31% of holes intersected over 10.0 g/t Au 20
Slide 21: Risti – Aamurusko – Multiple Targets for Expansion
Risti – Aamurusko – Multiple Targets for Expansion Gold in quartz veins in clastic sediments Gold in gabbro (mafic differentiated sill) 21
Slide 22: Risti & Launi – Regional Potential
Risti & Launi – Regional Potential ▪ Tens of kms of prospective structural trends to be explored. ▪ A number of gold in till anomalies identified in previously unexplored areas. ▪ Gold in till anomalies encountered within several geologic settings including volcanic, sedimentary and intrusion relate
Slide 23: Methodical Approach to Exploration
Methodical Approach to Exploration Gold camp on multiple discoveries Helmi Aamurusko Kutuvuoma Hinge Zone Kaaresselkä Kutuvuoma East CDZ Outa Niligap Notches Sinermä YNOT NE corridor Risti NW Ahvenjärvi Launi East Naakena A2 Kiekerömaa Launi West Kuiva 100% Aurion JVs 23
Slide 24: Value From Multiple Opportunities
Value From Multiple Opportunities Kinross JV • Northern extension of Hanhimaa Shear • Numerous gold showings Strategic Resources • 18.3% ownership of the company • Vanadium development projects • Part of Lumina Group B2Gold JV • Helmi discovery: 2.05 g/t Au over 77.5 m • Multiple gold prospects • Ne
Slide 25: Management and Board
Management and Board Chairman – David Lotan, CPA, CA ▪ President of LHI, an investment company focused on natural resource opportunities ▪ Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution ▪ Portfolio manager for the Ontario Teachers’ Pension Plan CEO an
Slide 26: Aurion Resources - Discovering the Next Major Gold Camp
Aurion Resources - Discovering the Next Major Gold Camp District Scale Near-Surface High-Grade Gold Aligned Management + + = 26
Slide 27: Appendices
Appendices
Slide 28: Creating Value Through M&A
Creating Value Through M&A ▪ A significant amount of value has been created for shareholders of drill bit stories ▪ The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies Pre-Resource Precedent Acquisitions Deal Deal Premium Go
Slide 29: Creating Value Through M&A
Creating Value Through M&A ▪ A significant amount of value has been created for shareholders of drill bit stories ▪ The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies Precedent Transactions Deal Deal Exploration Project Val
Slide 30: Multiple Bidders – Shareholders Win
Multiple Bidders – Shareholders Win Shandong Acquisition of Cardinal Resources • Mar 16, 2020: Receives non-binding bid for A$0.45775 per share from Nord Gold • Jun 18, 2020: Receives All-Cash offer by Shandong for A$0.60 per share • Jan 13, 2021: Shandong acquires Cardinal for A$1.075 per share Tot
Slide 31: Aurion-B2Gold JV – Helmi Discovery
Aurion-B2Gold JV – Helmi Discovery 2.1 g/t Au 3.1 g/t Au 1.3 g/t Au 4.1 g/t Au 2.5 g/t Au 31
Slide 32: Risti – Aamurusko Drilling 2021 – Main and North
Risti – Aamurusko Drilling 2021 – Main and North • Gold mineralization extended to the northeast at Aamurusko NW • Broad zone of gold mineralization intersected in gabbro • New Gold Setting – Conglomerate hosted gold mineralization intersected in previously untested area • Confirmation and extension
Slide 33: Risti – Aamurusko Drilling 2021 – NW and Gap Zone
Risti – Aamurusko Drilling 2021 – NW and Gap Zone 33
Slide 34: Risti – Aamurusko Main – Gold in Multiple Host Rocks
Risti – Aamurusko Main – Gold in Multiple Host Rocks Plan view Long section 34
Slide 35: Risti – Aamurusko – Parallel Gold Bearing Structures
Risti – Aamurusko – Parallel Gold Bearing Structures Gold in quartz veins clastic sediments and along sheared contact between sediment and gabbro Gold in altered, veined and sulphide disseminated gabbro Gold in altered, veined and sulphide disseminated gabbro 35
Slide 36: Risti – Aamurusko Drilling 2021 – NW Extensions
Risti – Aamurusko Drilling 2021 – NW Extensions 36
Slide 37: For Further Information Visit
TSXV: AU; OTCQX: AIRRF For Further Information Visit: www.aurionresources.com Or Contact: msantarossa@aurionresources.ca
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