Belo Sun Mining Corp. · TSX:BSX
Belo Sun Mining — Gold Stock Analyst Conference 2021
25 slides from Belo Sun Mining's conference presentation, 2021
Slide 1: Volta Grande Gold Project
Volta Grande Gold Project The largest undeveloped gold deposit in Brazil Gold Stock Analyst Conference 2021 TSX:BSX
Slide 2: Cautionary Notes
Cautionary Notes Currency: All dollar figures represent U.S dollars unless otherwise noted. Market and Industry Data: Unless otherwise indicated, the market and industry data contained in this document is based upon information from independent industry publications, market research, analyst reports
Slide 3: Volta Grande Gold Project agenda
Volta Grande Gold Project ▪ Project Highlights ▪ Project Location / Infrastructure ▪ Project Update ▪ Economics / Operations ▪ Mineral Resources / Exploration ▪ Value for Investors TSX: BSX | 3
Slide 4: Volta Grande Gold Project - Highlights
Volta Grande Gold Project - Highlights Highlights ▪ Largest Undeveloped Gold Project in Brazil ▪ Excellent Infrastructure ▪ 268kozAu/yr (first 10 yrs) at 1.38 g/t (1) ▪ Life of Mine Au Production: 3.53 Moz ▪ Feasibility Mineral Reserves: 3.8 Moz ▪ Feasibility Mineral Resources: M&I: 5.0 Moz and Inf:
Slide 5: Mining Highlights (first years)
Mining Highlights (first 10 years) Operating Costs and Annual Production* $40.00 1.80 300,000 oz 2.0 g/t 275,000 oz $35.00 1.60 250,000 oz Cost per Tonne Ore Milled 1.40 $30.00 225,000 oz Ounces Produced 1.20 200,000 oz Grade (g/t) $25.00 175,000 oz 1.01.00 g/t $20.00 150,000 0.80 125,000 $15.00 0.6
Slide 6: Volta Grande Gold Project - Location
Volta Grande Gold Project - Location ▪ The Volta Grande Project is located in Para State, the 2nd most active mining state in Brazil. Volta Grande is the largest undeveloped Gold deposit in Brazil ▪ The future mine and all related infrastructure will be located on farmland or previous mine workings
Slide 7: Excellent Infrastructure
Excellent Infrastructure Altamira City – 150,000 residents Altamira Airport Belo Monte & Pimental Dams Easy Accessible by road World’s 3rd largest hydroelectric dam Volta Grande Gold Project Volta Grande Land TSX: BSX | 7
Slide 8: Volta Grande Gold Project - Update
Volta Grande Gold Project - Update Successful Permitting Record - Project Status ▪ EIA (Environmental Impact Assessment) completed in 2012 ▪ Environmental Licence (LP) granted in 2012 ▪ Feasibility Study completed in 2015 ▪ Indigenous Study completed in 2016 *Submitted along with construction licens
Slide 9: Strong Economics
Strong Economics Feasibility Study, March 2015 Current Gold Price & Exchange Rate $1,200/oz Au; $US1:R3.10 $1,650/oz Au; $US1:R5.5 ▪ Post-Tax IRR of 26% ▪ Post-Tax IRR of 55% ▪ Post-Tax NPV @5%: $665M ▪ Post Tax NPV @ 5%: $1.8 Billion ▪ 4 year payback ▪ 2.0 year payback 56% Post-Tax Internal Rate of
Slide 10: Strong Economics - Cumulative Cash Flow
Strong Economics Cumulative Cash Flow (after-tax, undiscounted ) Cumulative Cashflow after tax US$ 2.88 Billion After Tax $3,500,000,000 $3,000,000,000 $2,500,000,000 $2,000,000,000 $1,500,000,000 $1,000,000,000 $500,000,000 $- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 -$500,000,000 $1,650/
Slide 11: Project Performance
Volta Grande - Feasibility Study Details 2020 Project Performance Operating Cost Breakdown Annual tonnes milled 6.75 Mt Avg. gold grade (First 10 years) 1.38 g/t Au Plant recovery 93% Annual production (First 10 years) 268,000 oz 39% Recovered Gold over LOM 3.53 M oz Au Processing 57% Processing met
Slide 12: Operating Costs: 2015 vs. 2020
Volta Grande Gold Project 2020 Operating Costs: 2015 vs. 2020 Feasibility Study 2015 Current 2020 Mining Operating Costs (LOM Average) (LOM Average) General Mine & Engineering $0.06/t $0.06/t Drilling $0.15/t $0.13/t Blasting $0.28/t $0.32/t Loading $0.22/t $0.22/t Hauling $0. 64/t $0. 64/t Support
Slide 13: Construction Capital Breakdown
Volta Grande - Feasibility Study Details 2020 Construction Capital Breakdown Volta Grande Project Capital Allocation (3.1:1 BRL/US Exchange Rate) Overall site Mine & waste rock dump $20.7 M Mine fleet $24.3 M Crushing plant $06.4 M Plant $71.1 M Tailings $07.4 M Infrastructure $33.6 M Ancillaries $2
Slide 14: Mineral Resources / Exploration
MINERAL RESOURCES / EXPLORATION Volta Grande Gold Project
Slide 15: Located Within Large Gold Belt
Located Within Large Gold Belt Amazon Basin Altamira Parnaíba Basin Volta Grande Project Três Palmeiras Greenstone Belt (+120 km strike; 1km-8km width) Geological data accumulated on Bacajá Domain Tapajós Province the entire belt to date: ▪ 11,000 soil samples (mostly taken in the mineral resource a
Slide 16: Tres Palmeiras Greenstone Belt
Tres Palmeiras Greenstone Belt Volta Grande Gold Project - North Block South Block Sector 1 Sector 2 Sector 3 Sector 4 16
Slide 17: Mineral Resources
Mineral Resources Geological data on belt to date: ▪ 11,000 soil samples (mostly taken in the mineral resource area) GREIA ▪ 900 surface rock samples ▪ 9,981m of drilling (excluding resource drilling) EXPLORATION VOLTA GRANDE GOLD PROJECT CONCESSIONS (+120 km strike; 1km-8km width) North Block SOUTH
Slide 18: Exploration Targets 2017/2018
Exploration Targets 2017/2018 Volta Grande Gold Project – North Block OURO VERDE 1 Mineral growth along strike GREIA JUNCTION Mineral growth in Greia 2 GROTA SECA 3 Explore and upgrade South Block target Grassroots exploration drilling elsewhere on greenstone belt 4 TSX: BSX | 18
Slide 19: Exploration Upside – South Block
Exploration Upside – South Block VOLTA GRANDE GOLD PROJECT SOUTH BLOCK North Block 250,000 Excellent mineral Drilling has translated to growth potential in significant mineral growth the South Block with in the North Block. further drilling. 200,000 150,000 Meters Drilled 6.1 Moz * 100,000 50,000 In
Slide 20: Investor Value
INVESTOR VALUE Volta Grande Gold Project
Slide 21: Benchmarking Shareholder Value
Benchmarking Shareholder Value Operating and Permitted Open Pit Gold Projects in the Americas Reserve Au Ounces vs Reserve Grade Au g/t 13,000,000 1 gram per Tonne line 12,000,000 11,000,000 10,000,000 Total Contained Gold Reserves, Oz 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 BSX
Slide 22: Benchmarking Shareholder Value
Benchmarking Shareholder Value Primary Gold Bankable Feasibility Mine Life Annual Production Cash Costs Shovel-Ready and Projects in the Study >10 Years >150 koz <US$750/oz Actionable Americas IRR >25% Only 1: 461 68 32 23 5 Volta Grande Volta Grande is the only shovel-ready, actionable gold project
Slide 23: Company Structure & Performance
Company Structure & Performance Capitalization Summary (Q2 ending June 30, 2019) Major Shareholder Distribution Sun Valley Gold ~24% Shares Outstanding 442,631,915 Canadian Gold Funds ~15% Options 17,221,333 Management & Insiders ~15% European Gold Funds ~7% US Gold Funds ~6% Cash & Cash Equivalents
Slide 24: Summary & Value Proposition
Summary & Value Proposition ▪ Advancing one of Brazil’s largest undeveloped gold projects in a prolific mining district and mine-friendly jurisdiction ▪ Strong Cash Position $32 million ▪ Advanced stages of permitting ▪ Strong Production Profile & Robust Project Economics ▪ Large Resources/Reserves
Slide 25: Thank You
Thank You Developing the Open Pit Volta Grande Gold Project, Brazil The largest undeveloped gold deposit in Brazil Gold Stock Analyst Conference 2021 TSX:BSX