Aurion Resources — Investor Presentation (May 2023)
31 slides from Aurion Resources's investor presentation, May 2023
Slide 1: Discovering the Next Major Gold Camp
TSXV: AU; OTCQX: AIRRF DISCOVERING THE NEXT MAJOR GOLD CAMP Corporate Presentation May 2023
Slide 2: Forward-Looking Information
Forward-Looking Information This presentation may contain "forward-looking information" (as defined in applicable Canadian securities legislation). Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect",
Slide 3: Discovering the Next Major Gold Camp
Discovering the Next Major Gold Camp Emerging Gold Camp Multiple Value Drivers District scale land package Joint Ventures with B2Gold and Kinross Prospective geology New discoveries on wholly owned properties Multiple new discoveries Tier 1 Jurisdiction Positioned to Execute Finland consistently ran
Slide 4: Ownership and Capital Structure
Ownership and Capital Structure ▪ 130.0 M shares / 9.28 M options/ 1.59 M broker warrants ▪ Market Cap: ~C$96.2 M (As of May 1, 2023) ▪ Well-Funded: ▪ Working Capital ~C$12.6 M as of Dec 31, 2022 ▪ C$6.7 M equity financing closed Apr 12, 2023 Major Shareholders: Analyst Coverage: Eric Sprott 4
Slide 5: Finland – Like Discovering Timmins 110 Years Ago
Finland – Like Discovering Timmins 110 Years Ago 5
Slide 6: Finland – A Top Jurisdiction with Untapped Potential
Finland – A Top Jurisdiction with Untapped Potential Total Resources of the known orogenic Size comparison of the CLGB to Norseman-Wiluna, gold deposits in greenstone belts Abitibi, and Zimbabwe Craton greenstone belts Zimbabwe Craton ~40Moz Norseman – Wiluna ~75Moz Abitibi ~85Moz Central Lapland <1
Slide 7: Value From Multiple Opportunities
Value From Multiple Opportunities B2Gold JV • Helmi discovery: 2.05 g/t Au over 77.5 m • Multiple gold prospects • Next to the Ikkari discovery by Rupert Resources Risti and Launi • 100% ownership • High-grade, near surface discoveries • Multiple gold prospects Kinross JV • Northern extension of Han
Slide 8: Emerging Gold Camp – Over 20 Discoveries Since 2016
Emerging Gold Camp – Over 20 Discoveries Since 2016 Pre 2016 Today Kutuvuoma Pahtavaara Kutuvuoma Pahtavaara Ikkari Helmi Aamurusko Aurion 100 % owned properties Aurion-B2Gold JV property 8
Slide 9: Joint Venture – B2Gold
Joint Venture – B2Gold
Slide 10: JV with B2Gold – Multiple Discoveries
JV with B2Gold – Multiple Discoveries ▪ JV: B2Gold 70%, Aurion 30% ▪ Large land package ~384 km2 ▪ Multiple gold prospects ▪ 2023: C$10.5 M incl. ~11,500 m of drilling ▪ Focus on Helmi Discovery and Kutuvuoma-Ikkari corridor 10
Slide 11: Rupert's US$1.6 Billion Ikkari Project
Rupert’s US$1.6 Billion Ikkari Project May 12, 2020 – Ikkari Discovery • 1.8 g/t Au over 137 m ▪ Large Resource: 3.68 Moz indicated resource and 710 koz inferred resource ▪ PEA Study: After-Tax NPV(5%) of US$1.6 B and IRR of 46% using a US$1,650/oz gold price with initial capex of US$404 M ▪ Headlin
Slide 12: JV with B2Gold – Helmi Discovery
JV with B2Gold – Helmi Discovery ▪ Maiden drill program completed in 2021, 20 holes, 5,201.5 m ▪ Follow up drill program in 2022 expanded to ~17,000 m ▪ Gold mineralization intersected along 2 km strike and extend to at least 500 m depth ▪ Highlight intercepts to date: ▪ 2.05 g/t Au / 77.50 m ▪ 2.44
Slide 13: JV with B2Gold – Helmi-Ikkari-Kutuvuoma Corridor
JV with B2Gold – Helmi-Ikkari-Kutuvuoma Corridor 7 km 13
Slide 14: 100% Property: Risti
‘age 100% Property: Risti
Slide 15: Risti & Launi – Extensive Surface Footprint
Risti & Launi – Extensive Surface Footprint Ikkari ▪ Analogous in size and geology to major gold camps ▪ Tens of kms of prospective structural trends to be explored. Helmi Aamurusko ▪ A number of gold in till anomalies Kaaresselkä identified in previously unexplored areas. ▪ Gold in till anomalies e
Slide 16: Risti – Aamurusko – Near-Surface Gold Mineralization
Risti – Aamurusko – Near-Surface Gold Mineralization Aamurusko NW Gap Zone Aamurusko Main ▪ 9.42 g/t Au over 28.22 m ▪ 4.64 g/t Au over 3.10 m ▪ 789.06 g/t Au over 2.90 m ▪ 23.41 g/t Au over 11.10 m ▪ 1.69 g/t Au over 7.75 m ▪ 42.28 g/t Au over 4.00 m ▪ 6.84 g/t Au over 19.00 m ▪ 8.63 g/t Au over 0.
Slide 17: Risti – Aamurusko – Multiple Targets for Expansion
Risti – Aamurusko – Multiple Targets for Expansion ▪ 80% of holes intersected over 1.0 g/t Au ▪ 51% of holes intersected over 3.0 g/t Au ▪ 31% of holes intersected over 10.0 g/t Au 17
Slide 18: Risti – Transitioning Focus from Sediments to Volcanics
Risti – Transitioning Focus from Sediments to Volcanics ▪ Over 8,500 samples averaging ~ 6 g/t Au ▪ 20 targets identified along domain boundaries, using ▪ Tens of kms of prospective structural Base of till sampling and geophysics trends to be explored. ▪ Key methods in discovery of Ikkari (Rupert Re
Slide 19: Risti – Kaaresselkä
Risti – Kaaresselkä ▪ Located approximately 4 kms southwest of Aamurusko ▪ Base metal and gold exploration by the Geological Survey of Finland and Tertairy Minerals in 1980’s and 1990’s ▪ 127 historic holes, average length 70 m ▪ Shallow drilling returned e.g. ▪ 11.01 g/t Au over 4.90 m ▪ 4.9 g/t Au
Slide 20: Risti – Kaaresselkä – Recent Drilling Results
Risti – Kaaresselkä – Recent Drilling Results 20
Slide 21: Risti – Kaaresselkä – Similar to Ikkari/Helmi
Risti – Kaaresselkä – Similar to Ikkari/Helmi Core from Helmi discovery on JV Property Core from recent drilling on Kaaresselkä KS22027: 17.1 g/t Au over 5.90 m from 95.75 m 2.1 g/t Au 24.3 g/t Au 3.1 g/t Au 11.4 g/t Au 4.1 g/t Au 21
Slide 22: Management and Board
Management and Board Chairman – David Lotan, CPA, CA ▪ President of LHI, an investment company focused on natural resource opportunities ▪ Founder and CEO of the Polar Structured Products – sold to major Canadian Financial Institution ▪ Portfolio manager for the Ontario Teachers’ Pension Plan CEO an
Slide 23: Opportunity – Closing the Valuation Gap
Opportunity – Closing the Valuation Gap Compared to peers Aurion trades at a discount ▪ Large land package ▪ High-grade gold ▪ Orogenic system ▪ Safe jurisdiction ▪ Tight share count Share Price (C$) $6.13 $4.55 $2.80 $6.26 $2.05 $0.34 $0.17 $1.28 $0.74 $1.27 $0.56 Basic Shares O/S (M) 175.4 202.2 1
Slide 24: Aurion Resources Emerging Gold Camp Multiple Value Drivers
Aurion Resources Emerging Gold Camp Multiple Value Drivers Tier 1 Jurisdiction Positioned to Execute 24
Slide 25: Appendices
Appendices
Slide 26: New Discoveries Generate Outsized Returns
New Discoveries Generate Outsized Returns Aurion Boulder Discovery 2017 Rupert Ikkari Discovery 2020 ~$185M ~C$1.1B or 563% Return Or 839% Return 26
Slide 27: New Discoveries Generate Outsized Returns
New Discoveries Generate Outsized Returns Snowline Einarson Discovery 2022 Vizsla Panuco Discovery 2020 ~$437M ~C$478M or 493% Return Or 1,548% Return 27
Slide 28: Creating Value Through M&A
Creating Value Through M&A ▪ A significant amount of value has been created for shareholders of drill bit stories ▪ The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies Pre-Resource Precedent Acquisitions Deal Deal Premium Go
Slide 29: Creating Value Through M&A
Creating Value Through M&A ▪ A significant amount of value has been created for shareholders of drill bit stories ▪ The return on invested capital (exploration dollars spent) to shareholders has been about 10x in advanced exploration companies Precedent Transactions Deal Deal Exploration Project Val
Slide 30: Multiple Bidders – Shareholders Win
Multiple Bidders – Shareholders Win Shandong Acquisition of Cardinal Resources • Mar 16, 2020: Receives non-binding bid for A$0.45775 per share from Nord Gold • Jun 18, 2020: Receives All-Cash offer by Shandong for A$0.60 per share • Jan 13, 2021: Shandong acquires Cardinal for A$1.075 per share Tot
Slide 31: For Further Information Visit: www.aurionresources.com
For Further Information Visit: www.aurionresources.com Or Contact: msantarossa@aurionresources.ca