Stillwater Critical Minerals Corp · TSXV:PGE
Stillwater Critical Minerals — Investor Presentation (November 2024)
45 slides from Stillwater Critical Minerals's investor presentation, Nov 5, 2024
Slide 1: The Future of U.S. Critical Minerals Supply
TSX-V: PGE OTCQB: PGEZF FSE: J0G The Future of U.S. Critical Minerals Supply N OVEMBER 5, 2024 TSX: PGE.V CRITICALMINERALS.COM OTCQB: PGEZF 1 FSE: 5D32
Slide 2: Forward-Looking Statements
Forward-Looking Statements TSX-V: PGE OTCQB: PGEZF FSE: J0G FORWARD-LOOKING INFORMATION CAUTIONARY NOTE TO U.S. INVESTORS REGARDING RESOURCE This presentation contains certain forward-looking statements that reflect the current views and/or expectations of ESTIMATES Stillwater Critical Minerals Corp
Slide 3: The Need For Domestic Supply of Critical Minerals
TSX-V: PGE OTCQB: PGEZF FSE: J0G The Need For Domestic Supply of Critical Minerals Most of the world’s nickel Reliance on imported comes from Indonesia critical minerals poses a and carries much higher The US environmental and China controls threat to the national government set humanitarian costs t
Slide 4: Critical Mineral Supply in the USA
TSX-V: PGE OTCQB: PGEZF FSE: J0G Vision Critical Mineral Supply in the USA The Largest Nickel Project In An Active U.S. Mining District Stillwater Critical Minerals is focused on advancing world-class resources of critical minerals at our flagship Stillwater West Ni-Cu-Co-PGE + Au project in the ico
Slide 5: Success in Advancing Major Mining Projects
Directors, Management, Senior Technical TSX-V: PGE OTCQB: PGEZF FSE: J0G Success in Advancing Major Mining Projects Michael Rowley Greg Johnson Gordon Toll President & CEO, Director Executive Chairman Independent Director Co-founder of Stillwater Critical Minerals with over 30 years More than 30 yea
Slide 6: Advisory & Corporate Team
TSX-V: PGE OTCQB: PGEZF FSE: J0G Our People Advisory & Corporate Team Justin Modroo, P.Geo. 24+ years industry experience, including Stillwater Complex work Project Geophysicist with Premium Exploration and Beartooth Platinum Mike Ostenson, P.Geo. 24+ years experience in the Stillwater district. Sen
Slide 7: Portfolio & Strategy
TSX-V: PGE OTCQB: PGEZF FSE: J0G Our Projects Portfolio & Strategy KLUANE PGE-Ni-Cu Yukon ▪ Focus on flagship Stillwater West project ▪ 100% ownership on three district-scale assets that are adjacent to world-class mines/deposits ▪ 100% ownership on Duke Island Ni-Cu-PGE project (AK), and back-in ri
Slide 8: Strategic Investment
Strategic Investment TSX-V: PGE OTCQB: PGEZF FSE: J0G 15.4% Ownership Glencore is a global expert in nickel and one of the Glencore’s Nickel Operations world’s largest natural resource companies Key terms Raglan Nikkelverk $7.04 million investment by Glencore to date Sudbury with an option to increa
Slide 9: Government & Industry Partners
Government & Industry Partners TSX-V: PGE OTCQB: PGEZF FSE: J0G L-R: Senator Jon Tester, Rep. Matt Rosendale, Stillwater CEO Michael Rowley, Rep. Ryan Zinke, Senator Steve Daines Technical committee formed with strategic investment Data sharing agreement accesses a broader database, cutting-edge ana
Slide 10: Resource Estimate
Resource Estimate TSX-V: PGE OTCQB: PGEZF FSE: J0G Expansion Announced January 2023 World-class grade and scale BATTERY METALS PGE + GOLD (4E) in a producing American ▪ 62% increase driven district by a modest drill program ▪ Low discovery cost BASE CASE 1.64 Blbs 3.81 Moz ▪ Significant expansion 0.
Slide 11: High-Demand Commodities
High-Demand Commodities TSX-V: PGE OTCQB: PGEZF FSE: J0G Attractive and ‘Internally Hedged’ Blend at Stillwater West1 Nickel Copper 1.05 Blbs 499 Mlbs Nickel demand continues Cobalt A deficit in copper 9.0% to grow, driven by EV and concentrate supply is projected for 2024. By the alloy demand. Grow
Slide 12: Rising Demand
Rising Demand TSX-V: PGE OTCQB: PGEZF FSE: J0G Global Demand in Net Zero Scenario 2023 - 2040 M tonnes M tonnes K tonnes 2023 2030 2040 2023 2030 2040 2023 2030 2040 Nickel Copper Cobalt • Significant demand increases projected • Increased dependence on foreign sources • Increasing supply chain risk
Slide 13: Montana - Resource Industries
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Montana - Resource Industries ALBERTA Long history of mineral wealth: • Oil, gas, coal, and mining are major revenues for the state • 1852 gold rush • Dominant North American copper producer by WWI Hog Heaven (Ag, Au, Cu, Pb, Zn) • 24 Blbs of copper t
Slide 14: Stillwater District
Stillwater District TSX-V: PGE OTCQB: PGEZF FSE: J0G Over a Century of Critical Minerals Production Core Shack Stillwater Critical Minerals Tailings Sibanye-Stillwater Blitz Mine Sibanye-Stillwater Mountainview Mine Historic Chromium Mine Stillwater Mill Sibanye-Stillwater Stillwater Mine Sibanye-St
Slide 15: Stillwater District
Stillwater District TSX-V: PGE OTCQB: PGEZF FSE: J0G Mines, Infrastructure and Land Status Smelter, Refinery & Recycling Complex - Columbus, MT (60 km) Stillwater Layered Complex: • One of the five largest mafic-ultramafic layered J-M Reef Deposit (Sibanye-Stillwater) complexes in the world • 40km x
Slide 16: Correct Location in a World-Class Complex
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Correct Location in a World-Class Complex The Stillwater complex shares many similarities with South Africa’s Bushveld complex ▪ The J-M Reef was discovered in the 1970s based on parallels with similar deposits in the Bushveld complex ▪ Stillwater Cri
Slide 17: Platreef-style Deposits
Platreef-style Deposits TSX-V: PGE OTCQB: PGEZF FSE: J0G The World’s “Porphyry-Scale” Nickel and PGE Deposits Ivanhoe Mines Platreef Deposit Mogalakwena “Platreef” Deposit (Anglo American) Platreef-style 8 Blbs Ni+Cu & 95 Moz PGEs1 15 Blbs Ni+Cu & 152 Moz PGEs2 deposits The two mines on the Platreef
Slide 18: 3D Model – Chrome Mountain
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G 3D Model – Chrome Mountain Stillwater Igneous Complex Stratigraphy Norite I Zone Bronzitite Zone Peridotite Zone Basal Bronzitite Zone Basal Metasediment Drill Data 1 km CM2007-07 CM2007-06 CM2007-08 CM2007-10 3D model shows the scale of mineralizatio
Slide 19: Long-Section Through Current Deposits
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Long-Section Through Current Deposits Shows the scale of mineralization at Stillwater West, with focus on the Peridotite Zone across the 9.5 kilometer span that hosts the current deposits. The Peridotite Zone spans the layered Stillwater Igneous Compl
Slide 20: High-Grade Drill Highlights
Stillwater West DR/HYBRID DEPOSIT TSX-V: PGE OTCQB: PGEZF FSE: J0G 11 High-Grade Drill Highlights (CM2021-05) 13.2m of 2.89% NiEq (2.31% Ni, 0.35% Cu, 0.115% Co, 1.51 g/t 4E) 22 CZ DEPOSIT (CZ2021-01) 401m Continuous Mineralization 63.7m of 0.86% NiEq HGR DEPOSIT Pine 1 (0.47% Ni, 0.42 g/t Pd, 0.27%
Slide 21: Stillwater West Geophysics and Expansion Drill Results
Stillwater West GEOPHYSICS TSX-V: PGE OTCQB: PGEZF 2023 MINERAL RESOURCE ESTIMATES FSE: J0G 12-Kilometer Anomaly Only Resistivity at 2,600m ohm-meters <26 DRILL RESULTS Reported as Total Equivalent Grade-Thickness (Ni and Pd) Full 3E Data Base Metal Block Model Outlines PLANNED EXPANSION DRILL HOLES
Slide 22: 14 Target Areas
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G District-Scale System Fugro DIGHEM EM Survey <75 150 Conductance (Conductivity) 14 Target areas 200 56kHz Apparent Resistivity 800 (ohm-meters) 1500 2500 >5000 Defined by major conductive high anomalies with broad, coincident soil East Target Area Pic
Slide 23: Soil Geochemistry
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G PRECIOUS METALS Soil Geochemistry (Pt, Pd, Au) SOIL GEOCHEMISTRY Pt + Pd + Au (ppb) >200 75 – 200 Highly anomalous precious 50 – 75 25 – 50 BAN and base metal values 15 – 25 5 – 15 Hybrid HGR BZ PZ DR cover 25km strike in lower Central Crescent HF Sti
Slide 24: Long-Section – Geophysics (IP Survey and MVI)
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Long-Section – Geophysics (IP Survey and MVI) MVI Model >0.01 SI Conductivity (IP) <100 ohm*m 22 km Chargeability (IP) >45 mV/V NI43-101 Deposit at 0.20% NiEq cutoff 7 km Chrome Mtn Iron Mtn Feeder? Very large-scale Magnetic Vector Inversion, conducti
Slide 25: Milestones and Catalysts
Milestones and Catalysts TSX-V: PGE OTCQB: PGEZF FSE: J0G • Drill campaign • Expanded resource • Metallurgical studies • $3.9M Glencore-led • PEA study financing • Updates on non-core projects: • Airborne survey • Kluane • US government funding • Heritage Mining • 3D geologic model • Duke Island • E
Slide 26: Capital Structure
Capital Structure TSX-V: PGE OTCQB: PGEZF FSE: J0G And relative share price performance Share price (as of November 5, 2024) C$0.175 TSV Venture Industrial Metals Index Shares issued & outstanding 227M PGE.V Platinum ETF Options (avg. exercise price: $0.24) 20M Warrants (avg. exercise price: $0.34)
Slide 27: Summary
Summary TSX-V: PGE OTCQB: PGEZF FSE: J0G Famously metal-rich US mining district with a history of critical minerals production Team includes ex Ivanhoe geologists with Platreef expertise The largest nickel project in an active World-class mineral resource estimate, planned expansion U.S. mining dist
Slide 28: The Metallic Group
The Metallic Group A Collaboration of Leading, Independent Exploration Companies Experience with leading Building on a proven model for A Track Record of explorers, developers and value creation Discoveries producers Board and Management with Credited with the discovery extensive experience in and a
Slide 29: Appendix I: Technical
TSX-V: PGE OTCQB: PGEZF FSE: J0G Appendix I TECHNICAL TSX: PGE.V OTCQB: PGEZF 29 FSE: 5D32
Slide 30: Timing – Project Stage
Timing – Project Stage TSX-V: PGE OTCQB: PGEZF FSE: J0G Typical Enterprise Value by Stage The Lassonde Curve: Company Development PEA Stage PFS Stage Feasibility Stage Stages & Value Creation $10-25/oz Au $25-50/oz Au $50-$100/oz Au $1-$3/oz Ag $3-$5/oz Ag $5-$10/oz Ag 1%-2% in-situ value 2%-3% in-s
Slide 31: Multiple Deposits with Kilometer-Scale Expansion Potential
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Multiple Deposits with Kilometer-Scale Expansion Potential HGR & CRESCENT DEPOSITS 610 Mlbs Ni, Cu, Co 977 Koz PGEs + Au Large conductivity and 0.20% NiEq Cut-off chargeability anomalies correspond with sulphide CHROME MOUNTAIN mineralization in drill
Slide 32: Five Deposits with Kilometer-Scale Expansion Potential
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Five Deposits with Kilometer-Scale Expansion Potential Large conductivity and chargeability anomalies correspond with sulphide CHROME MOUNTAIN mineralization in drilled areas Pine Drill-defined high-grade gold Includes IM2019-03: 26.8m @ 0.34% Ni, 0.1
Slide 33: Select Drill Results
Stillwater West S E L E C T D R I L L R E S U L T S TSX-V: PGE OTCQB: PGEZF FSE: J0G Kilometer-Scale Expansion Potential Shown in 1 DR/HYBRID DEPOSIT AT CHROME 2 CZ DEPOSIT AT IRON MTN 3 HGR DEPOSIT AT IRON MTN MTN (CM2021-05) (CZ2021-01) (IM2021-05) Coincident Geophysical and Soil Anomalies Over 13
Slide 34: Chrome Mountain - DR/Hybrid Deposit Resource Models
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Chrome Mountain - DR/Hybrid Deposit Resource Models with Select Drill Results CM2023-02: CM2007-07: 215m @ 0.20% NiEq including 226m @ 0.30% NiEq including • Significant potential to CM2020-04: 13.9m @ 0.39% NiEq and 23.8m @ 0.51% NiEq expand existing
Slide 35: CZ and Central Deposit Areas – Iron Mountain
Stillwater West TSX-V: PGE OTCQB: PGEZF • Significant expansion at low discovery cost in 2023 FSE: J0G CZ and Central Deposit Areas – Iron Mountain resource update • IP survey guided drill campaign to high grades and IM2008-03 wide mineralized widths 355-54 355-24 • Open in all directions - further
Slide 36: HGR Deposit Area - Iron Mountain
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G • Significant expansion at low discovery cost in 2023 HGR Deposit Area - Iron Mountain resource update • IP survey guided drill campaign to high grades and PLAN VIEW wide mineralized widths IM2019-03: • Open in all directions - further expansion poten
Slide 37: Expansion Drill Results Over Geophysics
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G DRILL RESULTS Reported as Total Equivalent Grade-Thickness (Ni and Pd) Expansion Drill Results with 2023 Resources Over Geophysics GEOLOGIC BOUNDARIES: NiEq %-m Full 3E Data Base Metal Data Only Data Only PdEq g-m BAN < 10 < 25 BAN – Banded Series 10
Slide 38: Expansion Drill Results Over Soil Anomalies
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G Expansion Drill Results with 2023 Resources Over Multi-Kilometer-Scale Metals-in-Soil Anomalies Palladium-Platinum-Gold SOIL GEOCHEMISTRY BAN Pt + Pd + Au (ppb) Palladium-Platinum-Gold in Soil >200 75 – 200 50 – 75 25 – 50 BAN HGR BZ 15 – 25 5 – 15 Bl
Slide 39: 2023 Resource Outlines Over Geology
Stillwater West TSX-V: PGE OTCQB: PGEZF FSE: J0G 2023 Resource Outlines Over Geology DRILL RESULTS Reported as Total Equivalent Grade-Thickness (Ni and Pd) Full 3E Data Base Metal NiEq %-m Data Only Data Only PdEq g-m < 10 < 25 10 - 20 25 - 50 20 - 35 50 - 100 35 - 75 100 - 200 HGR > 75 > 200 Block
Slide 40: Stillwater West MVI Susceptibility
Stillwater west TSX-V: PGE OTCQB: PGEZF FSE: J0G Kilometer-Scale Magmatic Targets in a Famously Metal-Rich District J-M Reef Deposit (Sibanye-Stillwater) MVI Susceptibility Chrome Wild West Mountain Iron CZ Mountain Magmatic Targets Crescent Magmatic Targets 2 km depth Long-section through Stillwate
Slide 41: Appendix II: Other Assets
TSX-V: PGE OTCQB: PGEZF FSE: J0G Appendix II OTHER ASSETS TSX: PGE.V OTCQB: PGEZF 41 FSE: 5D32
Slide 42: Drayton - Black Lake
Drayton - Black Lake TSX-V: PGE OTCQB: PGEZF FSE: J0G Earn-In Deal With Heritage Mining on High-Grade Gold Project in Active Rainy River District OVERVIEW • 142 km2 land package adjoining NexGold’s +3Moz Goliath Gold Complex (formerly Treasury Metals) Stillwater Critical Minerals • 30km of underexpl
Slide 43: Kluane PGE-Ni-Cu project
Kluane PGE-Ni-Cu project TSX-V: PGE OTCQB: PGEZF FSE: J0G Premier land position in an emerging, world-class Canadian PGE-Ni-Cu district OVERVIEW • Kluane Mafic-Ultramafic belt extends 600 km from northern British Columbia to central Alaska and hosts known PGE-Ni-Cu deposits Kluane PGE-Ni-Cu Projects
Slide 44: Other Assets
Other Assets TSX-V: PGE OTCQB: PGEZF FSE: J0G Duke Island (SE Alaska) Yankee-Dundee Mine (SE British Columbia) Significant Cu-Ni-PGE asset, with CO2 sequestration and geoH2 potential Potential Royalty Revenues, Back-in Rights **LOI signed with Granite Creek Copper October 2024** • Stillwater consoli
Slide 45: Stillwater Critical Minerals Corp.
TSX-V: PGE OTCQB: PGEZF FSE: 5D32 Stillwater Critical Minerals Corp. Suite 904 - 409 Granville Street Vancouver, BC, Canada, V6C 1T2 Email: info@criticalminerals.com Tel: 604.357.4790 Toll Free: 888.432.0075 CRITICALMINERALS.COM @Stillwater_CM TSX: PGE.V OTCQB: PGEZF 45 FSE: 5D32
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