Sundance Resources — Troy Resources — Diggers & Dealers 2015
35 slides from Sundance Resources's conference presentation, August 2015
Slide 1: Diggers & Dealers
Diggers & Dealers 3 – 5 August 2015 Kalgoorlie, WA Martin Purvis, CEO & MD
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Troy Resources Limited (Troy). Summary of information: This presentation contains general and background information about Troy’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise al
Slide 3: Operational Portfolio
Operational Portfolio NORTH AMERICA Brasilia . J Belo Horizonte Rio de Janeiros TORONTO, ONTARIO @&Q Troy Operations Buenos Aires ® Troy Development Project Corporate Offices AUSTRALIA PERTH “4 WESTERN AUSTRALIA [| v SOUTH AMERICA
Slide 4: FY2015: Milestones
FY2015: Milestones • Karouni becomes next chapter in the Troy story. • Infill drilling programme at Smarts and Hicks confirms robust mining reserve and triggers green light for Project Development. • Mining Agreement, Environmental Permit and Mining Licence issued for Karouni ~ opening the door for
Slide 5: Financial Overview
Financial Overview Key Statistics FY13 FY14 FY15 Gold Production (koz) 103.0 93.9 78.0 Silver Production (koz) 1,361.1 2,475.6 3,111.2 Gold Equivalent Production (koz) 127.1 132.9 121.8 Casposo C1 Cash Costs (US$/oz) ~ Co-product basis 825 735 688 Andorinhas C1 Cash Costs (US$/oz) 799 856 889 EBITDA
Slide 6: Key Financial Data & Corporate Overview
Key Financial Data & Corporate Overview Major Shareholders Troy Resources Limited (ASX:TRY) Board Westoz Funds Management 7.3% David Dix (Non-executive Director) Renaissance Smaller 6.3% Companies Fred Grimwade (Acting Chairman) Board and Management 5.7% Martin Purvis (CEO & Managing Director) Ken N
Slide 7: Karouni: The Next Chapter in the Troy Story
Karouni The Next Chapter in the Troy Story • English speaking. • Part of the Caribbean “Community”. • British Legal and Parliamentary System. • Mining is governed by a modern mining act, same principles as Australia. • Main industries: Sugar cane, rice and rum Tourism Timber Bauxite Gold •
Slide 8: Access – Guyana's Latent Potential
Access – Guyana’s Latent Potential • Guyana's total “road network” is approx. 4,000kms, of which only ~940kms is sealed. • Remaining roads mostly logging tracks and trails in poor condition and subject to seasonal outage. 8
Slide 9: Looking to the Future
Looking to the Future YILGARN WESTERN AUSTRALIA { Agnew wituna Belt "mer Troy Resources Limited T_] Prowwozole Cover > cranttos Rock HB tte inevson HE eersnesmectary Rock [1] wotavocane Rock © Gols depose >= ~ Ein acest! . fr FW cold Deposit
Slide 10: Tenement Consolidation
Tenement Consolidation Putting together a patchwork quilt in the jungle • Total consolidated land holding of over 1,000km2 ~ as part of the Mining Licence process. • More than 20 individual private owners. 10
Slide 11: Transported Cover Challenges and Benefits
Transported Cover Challenges and Benefits • Guiana Shield is covered by a veneer of barren (white) sand that covers mineralised bedrock (dark). • Very little modern systematic exploration under this thin cover. • Surficial cover masks orebodies and underlying structures. • Exploration targeting and
Slide 12: KPI's for Karouni
KPI’s for Karouni Initial 3 year Open Pit mine life, with annual average gold production of ~100,000oz. Conventional CIL plant and gravity gold circuit treating a nominal 1Mtpa. Ore tonnes sourced: Smarts - 68% (1,774kt @ 4.7g/t) and Hicks - 32% (840kt @ 2.02g/t). Metallurgical recovery: 94%
Slide 13: Global Sourcing – Competitive Build Costs
Global Sourcing – Competitive Build Costs 13
Slide 14: Karouni Project Development Milestones
Karouni Project Development Milestones 28 July 2014 20 Oct 2014 12 Jan 2015 9 Feb 2015 15 Feb 2015 May 2015 Aug 2015 Sept 2015 First Troy signs Troy receives Troy receives Civil work General Mill and Plant Wet equipment Mineral finalised Mining starts on election and completion commissioning arrives
Slide 15: August 2013 – Troy Acquires Karouni
Early Days August 2013 – Troy Acquires Karouni 15
Slide 16: Equipment Mobilisation
Equipment Mobilisation June 2014 16
Slide 17: Construction Begins
Construction Begins February 2015 17
Slide 18: Light at the End of the Tunnel
Light at the End of the Tunnel July 2015 – All major components completed except for the mill and thickener 18
Slide 19: Mining Underway
Mining Underway TOTAL HICKS PITS 839,800t @ 2.0g/t containing 54,690oz • Deposit outcrops to surface. • Hicks provides oxide to blend with fresh Smarts ore. Tailings Dam • One mining fleet. 19
Slide 20: Smarts Pit
Smarts Pit TOTAL SMARTS PIT 1,773,800t @ 4.7g/t containing 268,200oz 3 - 5 g/t 5 - 10 g/t > 10 g/t • Two mining fleets. 20
Slide 21: Exploration – Good to Go!
Exploration – Good to Go! $12 million raised for FY2016 Exploration. 20,000m AC and RC contract awarded. Clearing and preparation currently underway to prepare access tracks and drill pads for over 950 drill hole collars for the first 5 targets. Mobilisation in August 2015 ~ Drilling starts
Slide 22: Guyana – A Great Geological Address
Guyana – A Great Geological Address South America & West African Plate Reconstruction 22
Slide 23: Evolution of Karouni Geology
Evolution of Karouni Geology A Key to Discovery 1984 Geology Map Signatures to Discovery Tectonic setting & Deformation • Gold bearing shear zones • Intrusives and alteration • Prospective Rocks: 2015 Geology Map Volcano-Sedimentary package Mafic units Granites & Porphyries 23
Slide 24: Karouni Exploration Model
Karouni Exploration Model Magnetics Drives Exploration Effort 24
Slide 25: FY16 Brownfields Drill Targets
FY16 Brownfields Drill Targets 25
Slide 26: First Cab – Whitehall
First Cab – Whitehall An Established Target – Now a New Opportunity • Significant Alluvial workings and abundant coarse visible gold (Alluvial produced est. at +70,000 oz gold). • New magnetic and XRF work has identified underlying shear structures and corridors which will now be tested. 26
Slide 27: Whitehall South Target
Whitehall South Target Multi-Element Geochemistry & Targeting Parameters Key Target Parameters – Anomalous Au, W, Ag & As geochemical signature. Chromium enriched sediment host rock. Interpreted flexure in the Smarts-Hicks Shear. Intersecting of EW trending structure. Shear spatially assoc
Slide 28: Karouni Project Pipeline
Karouni Project Pipeline 2 Smarts Mining Reserve Hicks Larken Inferred Resource 3 Smarts UG NW Smarts 1 Spearpoint Economic Drill Intercept Whitehall 3 Anomaly Defined Kanhai Whitehall South, Mirror NW , Mirror Central, Mirror SE, NE Goldstar, Gibbs, Norby, Powers, El Paso, Hicks SE, Larken Soil/Aug
Slide 29: Andorinhas – Winding Down in Brazil
Andorinhas – Winding Down in Brazil • FY2008 – FY2015 ~7 years. • Project acquired with 126,300oz gold in Indicated and Inferred Resources. • Exploration investment of US$12.6M (85,764m drilling). • 231,843oz of gold produced to date. • Additional ~25,000oz from Coruja Pit and Shrink Stoping. • Proj
Slide 30: Casposo: A Year of Strong Headwinds and Challenges
Casposo A Year of Strong Headwinds and Challenges • Transition from Open Pit to 0.14 Underground along with the 22% CPI Inflation and FX FY2015 training and development of a 0.13 17% local Owner-Operate team. 0.12 • Progression from a gold rich 12% mine to a silver rich mine. 7% 0.11 • Industry wage
Slide 31: More Metal – Less Revenue
More Metal — Less Revenue 400,000 0.03 350,000 300,000 250,000 200,000 Ounces per Month 150,000 Silver:Gold Price Ratio 100,000 GGG Silver Ounces Produced ==Silver:Gold Ratio Troy Resources Limited 31
Slide 32: The Next Stage of Inca Vein Development
The Next Stage of Inca Vein Development Pit revenue split Inca 1 revenue split Inca 2 revenue split >> >> gold 78% silver 22% gold 55% silver 45% gold 39% silver 61% 32
Slide 33: Outlook
Outlook After 2 years of Development Troy is weeks away from starting its first new mine in close to 5 years. Karouni is shaping up to be a simple, high margin gold operation with considerable expansion potential in a favourable mining environment. Troy will conduct an aggressive exploration p
Slide 34: Troy Resources Limited
TROY RESOURCES LIMITED
Slide 35: Qualifying Statements
Qualifying Statements Competent Person’s Statement Karouni The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves for the Karouni project is based on, and fairly represents, information and supporting documentation prepared by Mr Peter J Doyle, Vi