Corvus Gold — Investor Presentation (September 2016)
24 slides from Corvus Gold's investor presentation, September 2016
Slide 1: Corporate Presentation - September 2016
Corporate Presentation - September 2016
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included he
Slide 3: Nevada: Mining Friendly Jurisdiction
Nevada: Mining Friendly Jurisdiction 8% of annual global gold production Attractive mining jurisdiction Key operating companies include: • Barrick Gold • Newmont • Kinross Gold • Coeur Mining • Silver Standard 3 September 2016 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 4: North Bullfrog District
North Bullfrog District Bullfrog - North Bullfrog Epithermal Districts Historic Bullfrog Mines Cluster of small (Barrick) sediment hosted deposits totaling ~1.5M Ozs* Hwy 95 * Non Corvus Gold production Source: USGS 100% ownership of mining rights on 72km² Since 2010 spent ~CDN$40M on Bulk of
Slide 5: North Bullfrog PEA Study - Mining Concept
North Bullfrog PEA Study - Mining Concept 1600 ac-ft water right A Nevada Open Pit oxide project Mill Projected cash costs below median North American producers due to: Leach Pad Waste Good gold recoveries • Coarse grind Gravity/CIL mill (87%) Tailings • ROM heap leach (74%) Low strip ratio 0.6:
Slide 6: North Bullfrog PEA Summary (in $US)
North Bullfrog PEA Summary (in $US) PEA Highlights @ $1,300/oz gold (all values in USD) Pre-Tax Total Cash Flow & IRR $601M / 64% NPV (5% post-tax) & IRR $317M / 46% Payback 1.9 year Annual Production years 1-6 149,000 Au oz’s Annual Production years 7-10 68,500 Au oz’s Total Ounces Produced 1.19M A
Slide 7: Preliminary Economic Assessment
Preliminary Economic Assessment Base Case Gold Price Sensitivity Analysis - North Bullfrog Project (all values in constant 2015 US$) Pre-Tax Total NPV5% ($M) IRR, Post Tax Payback Gold Price ($/Oz) Cash Flow ($M) Post Tax (%) (yrs) $1,100 $ 357 $ 175 30 2.5 $1,200 $ 479 $ 246 38 2.2 $1,300 $ 601 $ 3
Slide 8: Proposed Operation vs Existing Mines
Proposed Operation vs Existing Mines Comparison of Cash and Total Cost per Au oz* $1,400 Mill - Heap Leach Operations Cash Cost/Au oz Total Cost/Au oz $1,200 • North Bullfrog amongst lowest cost gold $1,000 operation in N.A • Low-grade heap Cost ($/Au oz) $800 component allows $600 economy of scale
Slide 9: Proposed Oxide Mill
Proposed Oxide Mill • Similar design and processing to Bullfrog Mine, 10 Km south • Mill Cash Cost per ounce gold $379 @ avg. grade of ~2.0 g/t • 2.3M ounces of bi-product silver produced from the mil • Mill produces 2/3 of project NPV from 1/3 of the ounces • Adding additional mill tonnes into prod
Slide 10: YellowJacket Vein System
YellowJacket Vein System Bullfrog Mine showing west dipping main vein in pit wall YellowJacket Vein/Stockwork deposit similar to Bullfrog deposit • Low sulphidation, epithermal high-grade vein/stockwork system, 20-50m wide • Feeder vein system currently ~1km in strike length & extends at least 250m
Slide 11: YellowJacket Vein System Expands
YellowJacket Vein System Expands *View from Sierra Blanca ridge looking East, red dotted lines are the surface projections of the YellowJacket and Rhyolite vein systems Drill highlights include: 13-370: 41.7m @ 4.9 g/t Au & 29.7 g/t Ag 13-347: 84.8m @ 1.6 g/t Au & 10.1 g/t Ag incl. 4.9m @ 21.2 g
Slide 12: North Bullfrog Exploration Model
North Bullfrog Exploration Model barren high level clay alteration around structures Current erosion surface Upper level, Low grade stratabound Au deposits High-grade Eastern Bullfrog 500 m Bullfrog & Covered Targets YellowJacket high- grade Deposits and High-grade Shallow Targets Proximal New Targe
Slide 13: Western Zone Exploration
Western Zone Exploration Swale/YellowJacket Western Zone contains a number of Extension YellowJacket type high-grade Liberator Zone immediate mill resource targets NWSB North Jolly Jane 2016 Targets Additional Targets Savage Cat Hill 13 September 2016 | Corporate Presentation | TSX: KOR | OTCQX: COR
Slide 14: Western Zone - Swale & Related Targets
Western Zone - Swale & Related Targets Pit Outline North Lower Jolly Jane Savage Sierra Blanca Deposit Liberator Zone 14 September 2016 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 15: 2016 Exploration Status
2016 Exploration Status 3.1m @ 2.24 g/t Au 18m @ 1.8 g/t Au Swale Zone Rhyolite Zone • 250m extension of YellowJacket 11m @ 3.5 g/t Au deposit, quartz stockwork zone 23m @ Hole NB-13-350 18m @ 1.8 g/t Au 1.7 g/t Au 6m @ 2.4 g/t Au 5m @ 1.8 g/t Au 154m @ 0.54 g/t Au NWSB Zone • Covered NE trending st
Slide 16: Eastern Zone Exploration
Eastern Zone Exploration Swale/YellowJacket New Eastern Exploration area has Extension potential for new discovery Liberator Zone comparable to Western Zone NWSB North Joly Jane 2016 Targets Additional Targets Cat Hill 16 September 2016 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 17: Eastern Target Area
Eastern Target Area Cat Hill Target S View looking south - Cat Hill 17 September 2016 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 18: New Discoveries & Plan Forward
New Discoveries & Plan Forward New 2016 Exploration Success Potential for mill resource expansion • Extension of YellowJacket @ Swale discovery • New high-grade system at NWSB Additional new discoveries with large tonnage potential • Liberator zone immediately east & parallel to YellowJacket • O
Slide 19: The Team
The Team Key Management Directors Jeffrey Pontius - CEO & Director Catherine Gignac - Chair Carl Brechtel - COO Steven Aaker Peggy Wu - CFO Edward Yarrow Quentin Mai - VP Business Dev. Anton Drescher Mark Reischman - NV Expl. Manager Rowland Perkins Team with discovery track record • +50M ozs gold
Slide 20: Performance
Performance Corvus Gold share price (green) vs. spot gold price (black) since recent gold price peak in 2011 Periods of outperformance attributed to Company news & developments Demonstrated leverage to gold prices 20 September 2016 | Corporate Presentation | TSX: KOR | OTCQX: CORVF
Slide 21: Share Structure as of July 18, 2016
Share Structure as of July 18, 2016 ~Shareholder Distribution 6.7% Management 28.3% 27.9% Institutional Strategic 15.7% 21.4% Retail High Net Worth Long Term Top Shareholders 92,344,582 shares I&O Tocqueville Asset Management 99,275,582 shares fully diluted, no warrants AngloGold Ashanti Limited
Slide 22: CORVUS GOLD High-Grade Gold in Nevada
CORVUS GOLD High-Grade Gold in Nevada 700 West Pender Street, Suite 1750 Vancouver, British Columbia Canada, V6C 1G8 Telephone: (604)-638-3246 Toll Free: 1-844-638-3246 www.corvusgold.com 22
Slide 23: 2015 Resource Estimate
2015 Resource Estimate Analysis of the sensitivity to gold price of the North Bullfrog mineralization inventory (Tonnes and grade indicate the portions of the mineralization inventory estimated to fall within the WhittleTM pit and be scheduled to either mill or heap leach processing at various gold
Slide 24: Assumptions
Assumptions WhittleTM Input Parameters used for the 2015 North Bullfrog Preliminary Economic Assessment Sierra Parameter Unit Mayflower* Jolly Jane* YellowJacket** Blanca* Mining Cost US$/tonne 1.64 1.62 1.62 1.62 Au Cut-Off*** g/tonne 0.20 0.15 0.14 0.56 Processing Cost US$/tonne 1.72 1.72 1.72 11.