Slide 1: Okvau Gold Project, Cambodia
For personal use only Okvau Gold Project, Cambodia Okvau DFS Delivers Ore Reserve of 907,000oz @ 2.0g/t Emerald to Become +100,000ozpa Gold Producer August 2017 ASX:EMR
Slide 2: Presentation Disclaimer
Presentation Disclaimer Forward Looking Statement This announcement contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections about the industry in which Emerald Resourc
Slide 3: Okvau DFS | Robust and Compelling Project
Okvau DFS | Robust and Compelling Project Ore Reserve and Mineral Resource Estimate Project DFS Economics Attributable to Emerald Initial Ore Reserve of 14.3Mt @ 2.0g/t Au for 907,000oz For personal use only Development Capital Costs1 US$91M Mineral Resource Estimate of 17.7Mt at 2.0g/t gold for
Slide 4: Capital Structure
Capital Structure ASX Code EMR Board & Management Simon Lee AO, Non-Executive Chairman Share Price 4.4 cents1 Previously Chairman: Equigold NL, Samantha Gold NL, and Great Victoria Gold NL For personal use only Previously Board Member of the Australian Trade Commission and President of the Share
Slide 5: Cambodia Overview & Project Location
Cambodia Overview & Project Location First mover advantage in frontier terrain For personal use only Democratic elections (5yr terms, next election July 2018) Growth orientated regime with pro-development Government (GDP ~7-10% pa) Attractive fiscal regime: o Direct foreign ownership |100% own
Slide 6: Okvau Resource
Okvau Resource 2.0g/t | 1.141 Million Ozs April 2017 JORC Resource (0.7g/t gold cut-off) Estimate covers 650 metres of strike by For personal use only Tonnage Grade Au Gold Resource Classification 650 metres width of the mineralised vein (Mt) (g/t) (Koz) Indicated 15.11 2.08 1,008 system Inferred
Slide 7: Okvau DFS Overview
Okvau DFS Overview 2.0g/t Au for 907,000 ounces gold April 2017 JORC Ore Reserve (0.625g/t gold cut-off ) For personal use only Tonnage Grade Au Gold Reserve Classification (Mt) (g/t) (Koz) Probable Ore Reserve 14.26 1.98g/t 907,000 Forecast annual production of +106Kozpa over initial +7 year LOM
Slide 8: Low All-in Sustaining Costs | High Margin
Low All-in Sustaining Costs | High Margin Mining Physicals Summary Operating Cost Summary Life of Mine Life of Mine For personal use only Ore Mined (tonnes) 11.3Mt On-Site Mining US$333/oz Average Grade (g/t Au) 2.0g/t On-Site Processing US$265/oz Strip Ratio (Waste:Ore) 5.8:1 On-Site G&A US$48/oz I
Slide 9: Metallurgy & Processing
Metallurgy & Processing Extensive test work completed Conventional Flotation & Leaching For personal use only Coarse primary grind (>106µm) and sulphide flotation Low mass pull (8%), high grade concentrate Fine regrind of concentrate only (no oxidation) Leaching (flotation tails and concentrate) & E
Slide 10: Infrastructure
Infrastructure Government currently constructing road to within 15km Flat terrain (130mRL to 180mRL) For personal use only Power | planned 115Kv transmission line Kratie to Okvau at US$0.118c Kwh Water supply within immediate vicinity of Project 115Kv planned transmission line Planned Access
Slide 11: Development Timetable
Development Timetable Permitting o Environmental & Social Impact Assessment - Completed o Environmental approval Q3 2017 For personal use only o Mining approval Q3 2017 o Negotiation of a Mineral Investment Agreement Q4 2017 Resettlement o Resettlement of 58 affected households well advanced and
Slide 12: Resource Growth Potential of the Okvau Deposit
For personal use only Resource Growth Potential of the Okvau Deposit ASX: EMR | www.emeraldresources.com.au 12
Slide 13: Okvau Resource Growth
Okvau Resource Growth Depth extensions Some of the highest grade intersections sit beneath open pit floor, including: For personal use only o 11m @ 9.0g/t from 230m o 23m @ 15.3g/t from 352m o 17m @ 5.7g/t from 399m (incl. 11m @ 8.4g/t) Latest results from drilling at depth include: o 3m @ 14.3g
Slide 14: Frontier Terrain | Substantial Upside
For personal use only Frontier Terrain | Substantial Upside ASX: EMR | www.emeraldresources.com.au 14
Slide 15: Okvau Surrounds | Geochemistry
Okvau Surrounds | Geochemistry For personal use only O’Svay Prospect 600m x 600m gold in soil anomaly Peak soils | 786ppb, 624ppb Remanent magnetic features Undrilled Okvau North Prospect +1km soil anomaly Drilling | 8m @ 19.2g/t fr 20m Zeus Prospect Samnang Prospect 800m x 200m gold in soil anomaly
Slide 16: Regional Potential | New Joint Ventures
Regional Potential | New Joint Ventures ~1,500km2 of prospective For personal use only unexplored terrain Dominant land position in Cambodia covering the core a north-west trending zone of cretaceous age (100Ma) granitoid intrusions Multiple Gold occurrences with direct associations with grani
Slide 17: Regional Potential | Kratie South JV (70%)
Regional Potential | Kratie South JV (70%) For personal use only Drill hole collar 2m @ 13.9g/t fr 89m 3m @ 8.51g/t fr 50m 3m @ 12.94g/t fr 38m 4m @ 10.25g/t fr 56m 3m @ 8.92g/t fr 73m 1m @ 16.16g/t fr 74m 15km south of the Okvau Gold Deposit Mineralisation associated with a major north east tre
Slide 18: Regional Potential | Memot & Koan Nheak JVs
Regional Potential | Memot (70%) & Koan Nheak (80%) JVs Memot Koan Nheak For personal use only 4m @ 11.94g/t fr 4m 1m @ 11.36g/t fr 66m 16m @ 2.93g/t fr 4m 4.3m @ 4.76g/t fr 147.2m 12m @ 1.01g/t fr 12m 70km south-west of the Okvau Gold Deposit 50km north-east of the Okvau Gold Deposit Numerous
Slide 19: Peer Comparisons | 35-40% Discount to Peers
Peer Comparisons | 35-40% Discount to Peers NPV/Capex AISC Annual Reserve FFEV/Reserve EV/NPV For personal use only (US$/oz) Production (oz) (oz) (US$/oz) % Emerald 2.0 731 106,000 907,000 225 36% Dacian1 1.8 779 146,000 1,200,000 405 66% Gascoyne 2.1 698 90,000 552,000 347 60% West Africa Resources
Slide 20: Investment Proposition
Investment Proposition New frontier, unexplored terrain covering 1,500km2 with compelling geochemical anomalies For personal use only 100% project ownership Low operating costs due to high grade, simple single open pit bulk mining approach and availability of competitive hydro power: o 907,000
Slide 21: Appendices
For personal use only Appendices ASX: EMR | www.emeraldresources.com.au 21
Slide 22: Okvau Cross Section
Okvau Cross Section For personal use only ASX: EMR | www.emeraldresources.com.au 22
Slide 23: Gold Price & Discount Rate Sensitivity
Gold Price & Discount Rate Sensitivity Gold Price US$1,100 US$1,200 US$1,250 US$1,300 US$1,400 Pre-Tax For personal use only Net Project Cash Flow US$188M US$261M US$298M US$334M US$407M Project NPV(5%) US$133M US$193M US$223M US$253M US$313M Project IRR 32% pa 43% pa 48% pa 53% pa 64% pa Post-Tax
Slide 24: Ore Reserves and Mineral Resource Estimate
Ore Reserves and Mineral Resource Estimate Ore Reserve For personal use only April 2017 JORC Ore Reserve (0.625g/t gold cut-off ) Tonnage Grade Au Gold Reserve Classification (Mt) (g/t) (Koz) Probable Ore Reserve 14.26 1.98g/t 907,000 Mineral Resource Estimate Okvau April 2017 Mineral Resource Estim