Tiernan Gold Corp · TSXV:TNGD
Tiernan Gold — Investor Presentation (May 2024)
15 slides from Tiernan Gold's investor presentation, May 2024
Slide 1: Corporate Presentation May 2024
Corporate Presentation May 2024 1
Slide 2: Overview of Tiernan Gold
Overview of Tiernan Gold • Private Canadian company holds 100% of the Volcan Gold Project on the Maricunga Gold Belt, Chile • Privately owned by Hochschild Mining (UK) • Completed an update to the Mineral Resources and a positive PEA for the Project • Completed a $15 million royalty financing with F
Slide 3: Volcan Project - History
Volcan Project - History Andina Minerals: • Over 150,000 metres of drilling 2007-2011 • Prefeasibility Study1 completed in 2011 contemplated 4.3 million ounces of gold production over a 15-year mine life • EIA completed in 2012 • Feasibility study level metallurgy and geotechnical work undertaken 20
Slide 4: Volcan Project - Location
Volcan Project - Location • Maricunga Gold Belt, a prolific porphyry gold district in the Atacama Region, Chile • Over 100 million ounces of past and present gold resources • Hosts a number of operating mines, new mines under construction and major development projects • Located 150km east of Copiap
Slide 5: Volcan Project - Land Package
Volcan Project - Land Package • Four mining concessions (purple) = 5,400 ha host all stated Mineral Resources – “Dorado” • Total land package including surrounding exploration/exploitation concessions = 53,000 ha • Exploration potential largely untested 5
Slide 6: Volcan Project – 2022/23 Work Programs
Volcan Project – 2022/23 Work Programs 1. Updated Mineral Resource Estimate (MRE) • No new drilling since 2011 • Updated economic parameters 2. Opportunity Framework Study • Evaluated 12 different flowsheet options/capacities 3. Trade-off and impact studies • Contract vs. Owner Mining • Water source
Slide 7: Volcan Project – Mineral Resource Estimate (MRE)
Volcan Project – Mineral Resource Estimate (MRE) • MRE updated in Q2 2022 • No new drilling or model work (Andina grade shell model) • In-pit resources being constrained by updated economic parameters • All resources located in Dorado Sector 7
Slide 8: Volcan Project - MRE
Volcan Project - MRE Notes: 1. The updated mineral resources are reported at a cut-off 2022 Updated MRE* grade of 0.29 g/t gold for the Dorado Oeste (DO) and Dorado Este (DE) and are reported at a cut-off of 0.75 g/t for Dorado Central. Category Tonnes Grade Gold 2. The effective date of the updated
Slide 9: Preliminary Economic Assessment - Summary
Preliminary Economic Assessment - Summary Material Movement 60,000 tpd Item Units Result 39 47 49 48 55 57 46 57 45 12 9 12 9 6 12 7 11 Ore Mined Mt 293 6 4 22 22 22 22 22 22 22 22 22 22 22 21 22 13 Waste Mined Mt 451 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Strip Ratio W:O 1.5 Pit to Plant Stock to Plant P
Slide 10: PEA Economics
PEA Economics Sensitivity to Gold Price – Post Tax • At current gold price: Gold Price NPV 5% IRR US$/oz US$ M % • Pre-Tax NPV (5%) = $1,254 M • Pre-Tax IRR = 25% $1,600 459 14.1 • Post Tax NPV (5%) =$826 M $1,700 643 17.4 • Post Tax IRR = 20.5% $1,800 826 20.5 • Simple payback 3.6 years post-tax $1
Slide 11: Water
Water • Water extraction rights in place since 2011 • Legally valid, wells fully drilled and cased (locked and secure) • Right to extract 3.9 Mm3/year per well at a total maximum pumping rate of 170 l/sec • PEA requires 105 l/sec of make-up fresh water • Golder estimated 30 years of life in wells at
Slide 12: Desalinated Water Option
Desalinated Water Option • Solaer Renewable Energies developing desalination project for Atacama Region mining and agriculture • Powered by 100% renewable energy • Central desalination plant in Puerto Viejo, solar power facility and water storage area with three distribution segments: • Copiapo – 68
Slide 13: Volcan - Exploration Potential
Volcan - Exploration Potential ODAE Exploration Area Mapping & Trenching 2006-08 39 holes Dorado Resource Area 15,400m 2009-10 10 holes 2,400m 6km 122m @1.45 g/tAu 13
Slide 14: Franco Nevada Royalty Financing
Franco Nevada Royalty Financing Royalties Existing on acquisition in 2012 (included in PEA economics): • Franco Nevada • 1.5% NSR on exploration concessions only (no impact on current resources) • Acquired by Franco Nevada as part of a package of royalties from Barrick 2023 Franco Nevada royalty (no
Slide 15: CONTACT US:
CONTACT US: Greg McCunn Chief Executive Officer 15 info@tiernangold.com