Slide 1: Motive, means, opportunity
Motive, means, opportunity Mark Bennett, Managing Director & CEO, Mining 2016, Brisbane, 26th August 2016
Slide 2: Competent person and forward looking statement
Competent person and forward looking statement This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This pr
Slide 3: The first 12 months (September 2015 – September 2016)
The first 12 months (September 2015 – September 2016) Objective Outcome Demerge Polar Bear & Scandinavian assets from Sirius, S2 demerged from Sirius on 21st September 2016 with with cash to create leveraged future growth opportunity Polar Bear, Scandinavian assets and A$22 million cash. for Sirius
Slide 4: Where to from here?
Where to from here? • Ready to go: • Two major strategic ground positions in two world class mining districts • With virtually no prior modern, systematic, effective exploration • Surrounded by world class mines/deposits • Plus existing infrastructure and under-utilised processing capacity • At Pola
Slide 5: Motive: ownership
Motive: ownership Financial ownership: Top twenty shareholders include: Shareholder Number % holding summary of shares 6 employees Mark Creasy 73.1m 30% Mark Creasy Board, staff & 17.0m 7% 8 institutional investors (Australian, consultants Canadian & British funds) Top twenty 133.3m 56% Emotional ow
Slide 6: Means: the team
Means: the team Jeff Dowling - Non-executive Chairman Mark Bennett – Managing Director & Chief Executive Officer Jeff is the former non-executive chairman of Sirius, and the former Mark was the founding managing director and CEO of Sirius and is a director of IGO. managing partner of Ernst & Young W
Slide 7: Means: currency and cash
Means: currency and cash Shares on issue 246m Share price (A$) and volume, ASX listing (post-SPP) in October 2016 to close 19 August 2016 Options on issue 30.9m (exercise price A$0.31) Cash A$27.5m (end March plus placement & SPP) Debt Nil Market capitalisation A$155m (at $0.63 per share) Enterprise
Slide 8: Opportunity: exploration assets
Opportunity: exploration assets
Slide 9: Polar Bear – a strategic chunk of the Goldfields
Polar Bear – a strategic chunk of the Goldfields A large unexplored ground holding, surrounded by Multiple trends & 30Moz gold endowment, prospects, two in a major gold province resources defined
Slide 10: Monsoon
394,300mE_ 394,400mE 394,500mE_ S00mRL os os LF 8 LEY SK L s » 7 és es oe ¢ See ser 8 s Ny $8 ¥ oe S SSS See s 4 ar ae oe EP £ S89 ESP F ? i ge Lg Qe PY BLK ES od gi @ . Surface $s éé SS SESE 88S F 3 ‘ Lake Sediments Partially 4 i Weathered J J Parially “ ‘Weathered *SPBA3740: 12m @ 26.2gIt Au (EOH)
Slide 11: Monsoon – follow up drilling underway
Monsoon – follow up drilling underway What is down dip/plunge? What is along strike? Drilling now underway
Slide 12: Monsoon
Monsoon Magnetic image Interpreted geology Drilling now underway
Slide 13: Baloo - resource
Baloo - resource High ounces per vertical metre from just 2 metres below surface Mainly oxide, mainly Indicated category, in thick, open pit friendly shape Indicated Resources Inferred Resources Total Resources LCOG Tonnes g/t Au Oz Au Tonnes g/t Au Oz Au Tonnes g/t Au Oz Au 0.5 1,420,000 1.6 74,000
Slide 14: Baloo - metallurgy
Baloo - metallurgy Standard leach: LEACH TESTWORK: SUMMARY OF RESULTS 4 composite samples Grind Au Head Grade (g/t) Au Extraction (%) Au Tail (oxide / transition / black Test # Sample ID Size P80 Grade (µm) Assay Calc. Gravity 2-hr 4-hr 8-hr 24-hr 48-hr shale / intermediate (g/t) volcanic) BK8434 10
Slide 15: Baloo – down dip/plunge exploration potential
Baloo – down dip/plunge exploration potential Potential to extend at depth High grade lode open down plunge to south (eg, 2.5m @ 10.9 g/t Au in SPBD0122, 1m @ 43.1 g/t Au in SPBC0262, 2.5m @ 9.52 g/t Au in SPBD0117) Also open down dip to east (eg, 5m @ 6.9 g/t Au in SPBC0257 and 8m @ 5.98 g/t Au in
Slide 16: Nanook – palaeochannel resource
Nanook – palaeochannel resource Inferred Tonnes LCOG g/t Au Oz Au (000's) 148,000 0.5 5,300 0.9 84,000 0.8 2,200 1.2 61,000 1.0 1,400 1.4 Nanook palaeochannel Mineral Resource is reported to JORC 2012 standards. LCOG is lower cut-off grade. All individual assays top cut to a maximum of 8g/t Au irres
Slide 17: Nanook – bedrock exploration potential
Nanook – bedrock exploration potential What lies beneath?
Slide 18: Skellefte, Sweden: a big chunk of a world class VMS district
Skellefte, Sweden: a big chunk of a world class VMS district • World class gold-base metal VMS camp with major mines (Boliden, Renstrom, Kristineberg), hungry concentrator, smelter, port, infrastructure • Strong geological similarities to the Abitibi belt, with very little outcrop, and little effect
Slide 19: First VTEM survey – lighting up like a Christmas tree
First VTEM survey – lighting up like a Christmas tree • First ever VTEM survey identifies 64 strong late time EM conductors, under cover, along strike from known mines/deposits • Little effective modern exploration, rhyolite domes, coincident geochemical anomalies being identified in base of till (B
Slide 20: Svan Vit - VMS in first holes in first VTEM conductor
Svan Vit - VMS in first holes in first VTEM conductor Plan showing VTEM anomaly (colour), ground EM conductor (red rectangle), upper and lower downhole EM conductors, and pierce points of S2 holes, with historic drilling to north VTEM over intervening ground is not shown in this image
Slide 21: Svan Vit – may have just clipped the edge
Svan Vit – may have just clipped the edge 3D depiction of upper and lower conductors defined in downhole EM survey. Holes 1 and 2 clipped the upper and western margin of the upper conductor only, and hole 3 missed both conductors
Slide 22: Six months of action coming up
Six months of action coming up • Started follow up RC and diamond drilling at Monsoon – first results due late September • Completed 2nd VTEM survey at Skellefte – results due October • Starting 5 month drilling campaign to test Svan Vit and 10 more VTEM conductors – results from October 2016 to Mar