Denarius Metals Corp. · NEO:DMET
Denarius Metals — Investor Presentation (November 2024)
46 slides from Denarius Metals's investor presentation, November 2024
Slide 1: Corporate Presentation November 2024
Cboe CA: DMET | OTCQX: DNRSF www.denariusmetals.com An Emerging Metals Producer in Spain and Colombia Corporate Presentation November 2024 The strategic acquisition of the 5,000 tpd Rio Narcea processing plant and the Aguablanca underground mine, Spain’s only nickel producer, will also accelerate pr
Slide 2: Cautionary Notes
Cautionary Notes Forward Looking Statements This presentation contains statements that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Any statements that express or involve discussions with respe
Slide 3: Emerging Metals Producer in Spain and Colombia
Emerging Metals Producer in Spain and Colombia Processing Plant at Aguablanca Near-Term Production Two Projects Coming Into Production in the Next 12 Months In-Demand Critical Minerals Cu, Zn, Pb, Ni, Au, Ag, Co, Pt, Pd Favorable Proximity The Right Jurisdictions; Proximal to Nearby Producers High-G
Slide 4: Our Projects
Our Projects Aguablanca Project Lomero Project Ni, Cu, Co, Pt, Pd, Au Cu, Zn, Pb, Au, Ag ~88km from Lomero, accelerating the path to Southern Spain’s Iberian Pyrite Belt, the production with an existing underground mine largest concentration of massive sulfides in and capacity at its 5,000 tpd proce
Slide 5: Company Overview
Company Overview Capital Structure Number Expiry Exercise Price Per Share Common shares 86,448,007 Management Shares issuable for: Serafino Iacono Executive Chairman & CEO Listed warrants (DMET.WT) (1) 7,500,000 2026 CA$8.00 Michael Davies Chief Financial Officer Unlisted warrants 80,370 2026 CA$8.0
Slide 6: Spain: A Historic, Prolific and Supportive Mining Jurisdiction
Spain 250km A Historic, Prolific and Supportive Mining Jurisdiction According to the latest Eurostat estimates, Spain's economy is projected to grow by 1.7% in 2024 and 2% in 2025, surpassing the European Union's average of 800km 0.9% and 1.7%, respectively Madrid Spain has a rich history of mining,
Slide 7: In-Demand Critical Minerals
In-Demand Critical Minerals Powering a Low-Carbon Future Nickel Copper Zinc Lead Zinc Silver Aguablanca Project Aguablanca Project Aguablanca Project Aguablanca Project Zancudo Project Extremadura, Spain Extremadura, Spain Extremadura, Spain Extremadura, Spain Cauca Belt, Colombia Lomero Project Lom
Slide 8: Near-Term Producer of Low Carbon Metals in Europe
Near-Term Producer of Low Carbon Metals Toral Project in Europe Future Underground Mine Zn-Pb-Ag Centralized processing at the Rio Narcea plant located in Extremadura, Spain • 5,000 tpd turnkey processing plant using conventional crushing, grinding and flotation processes • Fully permitted • Central
Slide 9: Proximity to Nearby Producers and Projects
Proximity to AGUABLANCA Nearby Producers and Projects Approximate distance from Lomero to: Aguablanca Project and 5,000 tpd Plant 88 km Lundin Mining - Neves-Corvo 136 km Sandfire Matsa - Aguas Tenidas 10 km Atalaya Mining - Rio Tinto 46 km First Quantum - Las Cruces 110 km Huelva Port 100 km Sevill
Slide 10: Aguablanca Project Highlights
Extremadura, Spain 50% Owned through Alto Minerals S.L.U. Aguablanca Ni Cu Co Pt Pd Au Project Highlights Historic Producer with Turnkey Processing Plant Discovered in 1994, the Aguablanca Mine is one of the only deposits in Spain Glencore Zinc Smelter 250km able to produce nickel and copper. oralPr
Slide 11: Aguablanca Project - A Rich History
Aguablanca Project - A Rich History 1994 Discovery of the Ni-Cu deposit in Aguablanca 1996 Atlantic Copper acquires rights to exploit the Deposit 2001 Rio Narcea Recursos S.A. acquires rights to exploit the Deposit 2003 Environmental Impact Statement (EIS) received by the authorities. Beginning of p
Slide 12: Aguablanca Project - Key Investment Highlights
Aguablanca Project - Key Investment Highlights Aguablanca mine is the unique nickel mine in Spain. Nickel and copper have been classified as critical raw materials for the European Union as these metals are considered key for the energy transition. Proven track record with 11 years of prior mining o
Slide 13: Deal Terms
Aguablanca Project - Accelerating our Path to Production in Spain • Acquired 50% of Rio Narcea Recursos, S.L. (“RNR”) from the RNR Shareholder Group in an arms-length transaction completed November 2023 • Acquisition price of EUR 25 million (~US$27 million), payable in cash • A total of EUR 10.0 mil
Slide 14: Aguablanca Project Mineral Resources and Reserves Estimate
Aguablanca Project Mineral Resources and Reserves Estimate Mineral Resource Estimate Effective Date March 24, 2024 Grade Contained Metal Resource Cutoff Tonnage Ni Cu Co Pd Pt Au NiEq Ni Cu Co Pd Pt Au NiEq Category (Ni%) (K tonnes) (%) (%) (%) (ppm) (ppm) (ppm) (%) (Klbs) (Klbs) (Oz) (Oz) (Oz) (Oz)
Slide 15: Aguablanca Project Pre-Feasibility Study
Aguablanca Project Pre-Feasibility Study (1) “ Key Economic Parameters of the PFS effective as at March 24, 2024: Assumption / Results 100% Basis (*) Total tonnes processed from underground mining over the LOM 4,807,000 The PFS confirms our decision late last year to invest in the Average LOM proces
Slide 16: Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 16
Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 16
Slide 17: Lomero Project Highlights
Iberian Pyrite Belt, Spain 100% Owned through Alto Minerals S.L.U. Lomero Cu Zn Pb Au Ag Project Highlights Located in a World Class Mining District The Iberian Pyrite Belt is the largest concentration of massive sulfides in 250km Glencore Zinc Smelter oralProject Project the world. Toral The Lomero
Slide 18: Lomero Project - A Rich History
Lomero Project - A Rich History Exploration Production Mining commenced in the late 1850’s and continued until 1990 Billiton 1984 Conducted a program of 60 underground diamond drilling holes A small amount of ore came from the two pits at Lomero (east) and Poyatos (west), but most of the historical
Slide 19: Lomero Project
Palomarejo Lomero-Poyatos • 151 hectares area adjacent to and on strike with the mineralized • 454 hectares Lomero-Poyatos deposit • 100% held by Alto Minerals S.L.U., a subsidiary of Denarius Metals • 100% held by Alto Minerals S.L.U. • Rubia Investigation Permit No 14,977…extended in early 2023 fo
Slide 20: Lomero Project - Mineral Resource Estimate
Lomero Project - Mineral Resource Estimate Denarius Metals prepared an NI 43-101compliant MRE(1) for the Lomero Project effective July 31, 2023 Category Tonnes Gold Gold Metal Silver Silver Metal Copper Copper Zinc Zinc Metal Lead Lead Metal CuEq Grade Content Grade Content Grade Metal Grade Content
Slide 21: Lomero Project Exploration Program Next Steps
Lomero Project LEGEND Exploration Program Next Steps DENARIUS Drilling Previous Drilling Next steps include a 6,000 m greenfield exploration drill program targeting the Las Merinas, Alianza and Deep areas with the objective of increasing the tonnage in the next MRE update in 2025. These areas, locat
Slide 22: Toral Project Highlights
Leon Province, Spain Option Agreement to Acquire up to 80% Toral Zn Pb Ag Project Highlights Located in a Well-Mineralized Historic Mining Area and Proactive Jurisdiction Represents a unique opportunity to develop a high-quality base metal project in 250km Glencore Zinc Smelter the heart of western
Slide 23: Toral Project - Exploration History
Toral Project - Exploration History…Over 60,000 m Drilled 1972 Peñarroya-Adaro to 1984 80 holes and 40 deviations (~45,000 m) drilling 1992 Geominera to Re-evaluation 1995 2005 Lundin Mining to 2008 7 holes (4,700 m) 2009 Goldquest Mining to Soil and rock geochemistry, old labors mapping, 2011 re-ev
Slide 24: Toral Project - Mineral Resource Estimate
Toral Project - Mineral Resource Estimate Europa Metals published (1) an updated JORC 2012 compliant MRE(2) for the Toral Project in November 2022 Europa Metals’ successful 2022 drilling campaign led to a 19% increase in the Indicated MRE and a 14% increase in overall grade. A total of 61,545 m of d
Slide 25: Toral Project - 2023 Exploration Program
Toral Project - 2023 Exploration Program The 2023 drilling campaign, funded by Denarius under the Option Agreement with Europa Metals, comprised of 9 holes for a total of approximately 6,200 m. The drilling campaign represented a combination of confirmatory drilling followed by a series of in-fill d
Slide 26: Toral Project Next Steps
Toral Project…Next Steps A formal application for a mining license for the Toral Project was completed and submitted by October 2023 to the Junta of C astille and Leon, the local mining authority. Preparing an updated MRE in advance of the preparation of a PEA study planned to commence in 2025. Dena
Slide 27: Zancudo Project
Zancudo Cauca Belt, Colombia 100% Owned Project Au Ag Zn Pb Highlights Located in a Historic Mining District Municipality of Titiribí, Department of Antioquia, ~30 km SW of Medellin. Mining of high-grade gold-silver-quartz veins was carried out in the Zancudo district from 1793 to 1948 with an estim
Slide 28: Zancudo Project - A Rich History
Zancudo Project - A Rich History Gold first discovered in the Zancudo district. Mining has been carried 1746 out since 1793 in 58 mines. The Sociedad del Zancudo mining company was created. Regarded 1848 as one of Colombia’s most important companies of the 19th century, it operated until 1948. First
Slide 29: Zancudo Project - Location
Zancudo Project - Location The Zancudo Project comprises: • three adjoining mining concession contracts (HDWA-02, H5911005 and C5521011) and one exploration license (HEOM-12); • a total area of 1,054 hectares; and • is located about 30 km SW, about a 1.5 hour drive by paved road, from Medellin. For
Slide 30: Zancudo Project - La Independencia Mine, A Former Producer
Zancudo Project – La Independencia Mine, A Former Producer AuEq – October 2023 MRE (1) (1) Refer to Page 30 for details Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 30
Slide 31: Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces
Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces The following table(1) summarizes the Inferred Mineral Resource estimate (“MRE”) for the Zancudo Project effective as at October 24, 2023: Grade Material Content Tonnes Category Au Ag AuEq Au Ag AuEq (kt) (g/t) (g/t) (g/t) (koz) (k
Slide 32: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) “ Key Economic Parameters of the PEA effective as at October 24, 2023: Assumption / Results 2023 PEA Total tonnes processed over the LOM 3,463,000 The PEA affirms the robust economic viability of our Total waste mined over the LOM Gold grade mine
Slide 33: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) Capital Costs (Table 2) Operating Costs (Table 3) Costs Life-of-Mine Per Oz Au Initial Capital Costs Operating Costs (US$) (US$M) (US$) Mine access rehabilitation (initial work excluded from mine contractor Mining 435.1 756 29,000 responsibility)
Slide 34: Zancudo Project - Path to Near-Term Production
Zancudo Project… Path to Near-Term Production • Local contract miner engaged • Permitting nearing completion to start mining/crushing • By-pass road construction near completion • Surplus/old equipment removed from plant site • Crushing equipment installation completed at the plant site • Mine plan
Slide 35: Zancudo Project - Advancing Toward Production in 2024
Zancudo Project - Advancing Toward Production in 2024 Mine Plant Infrastructure The local mine contractor was engaged in 2023 and has been New crushing equipment has been installed. Constructing an ~3.7 km access road connecting the Project preparing the existing mine to commence operations when the
Slide 36: Photos of our 1,000 tpd processing flotation plant
Photos of our 1,000 tpd processing flotation plant ready to ship. It was ordered in October 2023 and will produce high-grade gold-silver concentrates that will be delivered to a port in Colombia and sold to Trafigura under a long-term offtake contract. The plant is being manufactured by Jining Jidda
Slide 37: Zancudo Project - Significant Exploration Upside
Zancudo Project - Significant Exploration Upside Mineralization occurs in stacked mantos and steeply dipping veins that have been exploited over a strike length of 3,500 m. The average vein width is 0.35 m with a maximum width of 3.0 m. The known vertical extent of mineralization is 400 m. “Potentia
Slide 38: Sustainability
Sustainability Mining for the Future Denarius Metals’ board and management team have a long history of positively impacting areas of operations through tailored sustainability initiatives. Quality education in our areas of influence relates to both children and youth, as We are committed to working
Slide 39: Why Invest
In-Demand Favourable Proximity High Grades Critical Metals We are focused on in demand metals We are in the right jurisdictions We have quality high-grade projects Why Invest Rich History Proven Team here’s rich history where our projects are located We have the right team that knows how to unlock v
Slide 40: Appendix
Appendix Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 40
Slide 41: Los Albertos 2024 Infill Drilling
Los Albertos 2024 Infill Drilling Hole ID Structure From To (m) Length Au (g/t) Ag (g/t) AuEq (m) (m) g/t The following table shows intersections above a cut-off of 4.0 g/t AuEq for the Los Albertos Unknown 47.5 48.9 1.4 3.86 28 4.2 target from the 2024 infill drilling campaign. High grade samples a
Slide 42: Continued...
Continued… The following table shows intersections above a cut-off of 4.0 g/t AuEq for the Los Albertos target from the 2024 infill drilling campaign. High grade samples above 10 g/t Au and 100 From Length AuEq g/t Ag are listed as sub-intervals: Hole ID Structure (m) To (m) (m) Au (g/t) Ag (g/t) g/
Slide 43: El Zancudo Main Targets Los Albertos Man Vein System
El Zancudo Main Targets Los Albertos Man Vein System (1) Refer to Company press release dated September 10, 2024 for full details. Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 43
Slide 44: Drill Hole Location Map
Drill Hole Location Map 3D section showing the ore- shoot outlined by the 2024 drilling on Manto Antiguo (1) Refer to Company press release dated September 10, 2024 for full details. Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 44
Slide 45: 3D section showing high-grade AuEq intercepts on the Ortiz B Vein
3D section showing the high-grade AuEq intercepts on the Ortiz B Vein (1) Refer to Company press release dated September 10, 2024 for full details. Corporate Presentation | November 2024 www.denariusmetals.com Cboe CA: DMET | OTCQX: DNRSF 45
Slide 46: Contact Us
METALS Michael Davies Chief Financial Officer Melissa Mackie Manager, Investor Relations +1 (416) 360-4653 investors@denariusmetals.com www.denariusmetals.com DenariusMetals Contact Us Denarius-Metals-Corp Denarius-Metals DenariusMetals DenariusMetals Cboe CA: DMET | OTCQX: DNRSF Corporate Presentat
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