Corvus Gold — Investor Presentation (May 2021)
23 slides from Corvus Gold's investor presentation, May 2021
Slide 1: Corporate Presentation - May 2021
Corporate Presentation - May 2021
Slide 2: Forward Looking Statement
Forward Looking Statement 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 her
Slide 3: Share Structure & Management
Share Structure & Management • 126,978,470 shares I&O Top Shareholders % • 138,947,845 FD - No Warrants AngloGold Ashanti Limited 19.7 • Treasury ~$6M USD cash (05/10/2021) • $15M USD undrawn available cash via Sprott Gold Fund (Tocqueville) 19.4 AngloGold Ashanti loan agreement Van Eck Global 6.9 •
Slide 4: Nevada: A "Go To" Mining Jurisdiction
Nevada: A “Go To” Mining Jurisdiction Nevada: • Produced 5.6Mozs gold in 2018, 84% of USA & 35% of all NA production • State gold production decreasing due to increase in difficult, higher cost underground & refractory ore Walker Lane Trend: • Endowment of +80Mozs gold & +700Mozs of silver • Corvus
Slide 5: Active District with Multiple Major Producers
Active District with Multiple Major Producers 5 | Corporate Presentation | TSX: KOR | NASDAQ: KOR
Slide 6: North Bullfrog Project
North Bullfrog Project
Slide 7: North Bullfrog Robust Operation
North Bullfrog Robust Operation Years 1-7 • Cash cost of $589/oz • AISC of $727/oz • Avg. annual gold production of 147,000 • Simple Mine Plan • Gravity mill for high- grade material, followed by heap leach = 85% recovery North Bullfrog conceptual layout of Heap leach pads, waste rock locations and
Slide 8: North Bullfrog PEA, Near-term Development Plan
North Bullfrog PEA, Near-term Development Plan Base Case $1,500 Gold • Mineral Resource • Gold: 2.1Moz M&I, 0.41Moz Inferred • Silver: 10.3Moz M&I, 1.3Moz Inferred • Gold Produced: 1.47Moz • LOM strip ratio 0.91 : 1 • Pre-tax Cash Flow =$763M with a 55% IRR • Post-tax NPV5% = $452M with a 47% IRR Go
Slide 9: Mother Lode Project
Mother Lode Project AngloGold Ashanti Silicon Project Coeur Mining Corvus Gold C-Horst Project Lynnda Strip Discovery Corvus Gold Mother Lode Deposit
Slide 10: Mother Lode Standalone PEA
Mother Lode Standalone PEA Base Case $1,500 Gold • Mineral Resource • Gold: 1.6Moz M&I, 0.17Moz Inferred • Silver: 1.5Moz M&I, 0.4Moz Inferred • Gold Produced: 1.38Moz • LOM strip ratio 3.7 : 1 • Pre-tax Cash Flow =$564M with a 27% IRR • Post-tax NPV5% = $303M with a 23% IRR Gold Price ($/Oz) Gold P
Slide 11: Mother Lode - Feeder Zones
Mother Lode - Feeder Zones • Northern Feeder Zone: High-grade zone within a series of zones along a north-northeast trend related to deep-seated intrusives 11 | Corporate Presentation | TSX: KOR | NASDAQ: KOR *Reported intercepts are not true widths as there is currently insufficient data to calcula
Slide 12: Lynnda Strip Discovery
Coeur Mining Lynnda Strip Discovery Drilling AngloGold Ashanti Drilling Coeur Mining Drilling
Slide 13: Lynnda Strip - Vein System
Lynnda Strip - Vein System Lynnda Strip Discovery • Broad zones of oxide gold with multiple high-grade veins • Moderate strip open- pit heap leach potential • Large deposit size potential with Corvus land controlling the central core area ML20-171CT • 205m @ 1.36 g/t Au vein 37m @ 5.37 g/t Au ML20-1
Slide 14: Lynnda Strip - Section
Lynnda Strip - Section Drill Hole # Interval (m) Gold (g/t) Lynnda Strip Results 61.0 0.50 ML-20-166 56.9 0.93 33.5 1.63 ML20-167CT 111.1 0.80 48.8 0.90 ML20-168 106.7 0.71 ML-20-170 42.7 2.06 Incl. 12.2 4.88 ML20-171CT 204.5 1.36 Incl. 37.3 5.39 Incl. 10.5 9.99 ML20-183CT 180.1 0.79 Incl. 21.5 3.32
Slide 15: Lowest Quartile AISC
Lowest Quartile AISC 2020E AISC Curve North Bullfrog Years 1-7 AISC: Mother Lode US$727/oz Years 1-3 AISC: US$677/oz Corvus production assets are accretive to a wide variety of current production Companies Source: Wood Mackenzie 15 | Corporate Presentation | TSX: KOR | NASDAQ: KOR
Slide 16: Greater Bullfrog District Potential
Greater Bullfrog District Potential Greater District Potential I. Mother Lode-Silicon Belt: Expansion of the Mother Lode deposit north toward the new Lynnda Strip discovery and to the east and west along other favorable structural trends Mother Lode- II. Bullfrog Belt: Bullfrog Belt Silicon Belt Exp
Slide 17: Corvus Gold - Compelling Gold Investment
Corvus Gold - Compelling Gold Investment Proven Management which Continues to: • Maximize shareholder value through discovery • Enhancing project development options and strategic transaction value Premier Location: • Large, District-scale Nevada Land package with numerous new gold discoveries •
Slide 18: Corvus Gold
CORVUS GOLD 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
Slide 19: Highlighted Exploration Results
Highlighted Exploration Results (Reported intercepts are not true widths as there is currently insufficient data to calculate true orientation in space. Mineralized intervals are calculated using a 0.3 g/t and 1 g/t cutoff) Drill Hole # Interval (m) Gold (g/t) Drill Hole # Interval (m) Gold (g/t) ML
Slide 20: North Bullfrog - Mineral Resource Estimate
North Bullfrog - Mineral Resource Estimate Constrained by Whittle TM @ USD $1,500 Gold Price per ounce Mill Resource (sulfide) Run of Mine Heap Leach @ 0.20-0.40 g/t Au cut-off grade @ 0.06-0.10 g/t Au cut-off grade Resources Tonnes (Mt) Gold (g/t) Gold (Kozs) Tonnes (Mt) Gold (g/t) Gold (Kozs) Cate
Slide 21: North Bullfrog PEA Assumptions & Detail
North Bullfrog PEA Assumptions & Detail Production and Financial Detail Years 1-7 Production Data North Bullfrog Project Financials @ $1,500/oz Au Heap Leach Mill Estimated Initial Capital (M USD) $167 Contained Gold oz 826,170 551,770 Estimated Sustaining Capital (M USD) $132 Contained Silver oz 2,
Slide 22: Mother Lode - Mineral Resource Estimate
Mother Lode - Mineral Resource Estimate Constrained by Whittle TM @ USD $1,500 Gold Price per ounce Mill Resource (sulfide) Run of Mine Heap Leach @ 0.40 g/t Au cut-off grade @ 0.06 g/t Au cut-off grade Resources Tonnes (Mt) Gold (g/t) Gold (Kozs) Tonnes (Mt) Gold (g/t) Gold (Kozs) Category Measured
Slide 23: Mother Lode PEA Assumptions & Detail
Mother Lode PEA Assumptions & Detail Production and Financial Detail LOM Production Data Mother Lode Project Financials @ $1,500/oz Au Heap Leach Mill Estimated Initial Capital (M USD) $406 Mine Life (years) 8 8 Estimated Sustaining Capital (M USD) $44 Contained Gold oz 549,990 1,066,230 Cash Cost Y