Nevgold Corp · TSXV:NAU
Nevgold — Investor Presentation (October 2022)
35 slides from Nevgold's investor presentation, October 2022
Slide 1: Corporate Presentation
Corporate Presentation (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) October 2022 Finding and Growing the next multi-million-ounce resource base in Nevada, Idaho, and British Columbia Right Team, Right Place, Right Time, Right Way Brandon Bonifacio, President & CEO: bbonifacio@nev-gold.com, 604-337-4997
Slide 2: Forward Looking Statements & Disclaimers
Forward Looking Statements & Disclaimers This presentation contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not a
Slide 3: Why NevGold? Investment Highlights
Why NevGold? 1 Four advanced-stage, district-scale projects in three premier jurisdictions (Nevada, Idaho, B.C.) • Acquired Limousine Butte and Cedar Wash gold projects from McEwen Mining in 2021 for <US$7/oz Au (+US$50M spent historically) • Acquired an option on the Nutmeg Mountain Project (Idaho)
Slide 4: Attractive Locations – Focus on The Americas
Attractive Locations – Focus on The Americas NevGold will control four promising district-scale assets in top-tier jurisdictions in the Western Americas Limousine Butte (Nevada) ✓ Carlin-style deposit with historical 2008 resource of 292K oz Au (0.77 g/t Au) ✓ Positive, thick, oxide drill results re
Slide 5: Pro-Forma Portfolio – Rounding Out the Portfolio with Ounces
Pro-Forma Portfolio – Rounding Out the Portfolio with Ounces Executed Option to Acquire in Nutmeg Mtn. Resource July-2022 (910kozs Indicated, 160kozs Inferred) Near-Term Limo Butte (Resurrection Ridge, Cadillac Valley) Resource Expansion Nutmeg Mtn. – Lateral Expansion Nutmeg Mtn. – high-grade feede
Slide 6: Limousine Butte
Limousine Butte Asset Summary Project Summary (100%-owned) Property Map • 821 unpatented mining claims on BLM ground covering ~67 km2 in Ely, Property Size Nevada • ~104 km northeast of Ely Access • Via paved state highway (85 km) and county-maintained gravel road (19 km) • Significant exploration w
Slide 7: Limousine Butte – New Geologic Interpretation
Limousine Butte New Geologic Interpretation Targeting Structures Current Geology Map • Geological similarities to Bald Mountain (owned by Kinross, ~35km west) • Strongest oxide mineralization where faults intersect favorable host rocks including Pilot Shale and Guilmette Limestone • Normal faulting
Slide 8: Limousine Butte – Resurrection Ridge
Limousine Butte – Resurrection Ridge Drill Results Released 1H-2022 at Resurrection Ridge Key Highlights Resurrection Ridge Cross Section Looking North-Northwest • Near-surface, high-grade, oxide gold deposit • Key intercepts include: • 61.6m @ 2.19 g/t Au oxide • Including 11.6m @ 8.51 g/t Au oxide
Slide 9: Limousine Butte – Cadillac Valley
Limousine Butte – Cadillac Valley Drill Results Released 1H-2022 at Cadillac Valley Key Highlights Cadillac Valley Long Section Looking Northwest • Thick intercepts of high-grade, oxide gold • 175.2m @ 0.86 g/t Au oxide • Including 58.2m @ 2.13 g/t Au oxide B B’ • Also including 5.9m @ 12.32 g/t Au
Slide 10: Limousine Butte – Cadillac Valley South
Limousine Butte – Cadillac Valley South Drill Results Released at Cadillac Valley South Key Highlights Cadillac Valley South Cross Section • New discovery area with only 2 holes drilled • Both holes drilled from the same pad at different angles • CV22-006 intercepted 73.1m @ 0.51 g/t Au oxide (on pr
Slide 11: Limousine Butte – Cadillac Valley Mineralized Footprint
Limousine Butte – Cadillac Valley Mineralized Footprint Cadillac Valley South discovery opens up another +1.5km of prospective untested strike length Key Highlights Plan of Cadillac Valley Mineralized Footprint • Mineralized footprint now extends +1.6km along strike and +450m laterally • Mineralized
Slide 12: Limousine Butte – Resurrection and Cadillac Target Areas
Limousine Butte – Resurrection and Cadillac Target Areas Unlocking two key target areas advancing to a near-term, heap-leach oxide gold resource in Nevada Key Highlights Plan View of Resurrection Ridge and Cadillac Valley • Drilling completed at both target areas in 1H-2022 Resurrection Ridge • Resu
Slide 13: Limousine Butte – 1H-2022 10,000m Drill Program Update
Limousine Butte – 1H-2022 10,000m Drill Program Update Resource Expansion & Exploration Upside Key Highlights Resource Expansion & Exploration Targets ➢ 10,000m Drill Program completed in June-2022; currently ~2,000 meters of assays pending >20km strike length • Infill Drilling (Resurrection Ridge /
Slide 14: Limousine Butte – District Activity
Limousine Butte – District Activity Freeport-McMoran inks US$33M earn-in deal with Falcon Butte Minerals on Butte Valley Porphyry • Freeport-McMoran (NYSE:FCX, US$44B mkt cap) inks US$33M earn-in deal on Butte Valley porphyry for up to 80% on October 3, 2022 • Adjacent to our southwest • Centerra Go
Slide 15: Heap Leach Projects: Comparison
Heap Leach Projects: Comparison Heap leach projects are robust economically with low capital and operating cost structures • Limousine Butte is a “high-grade” oxide project at ~0.80 g/t Au → current drilling is targeting a near-term resource • Nutmeg Mountain compares favorably to many projects in W
Slide 16: Nutmeg Mountain
Nutmeg Mountain Asset Summary Project Summary Property Map • 1,724 hectares (17.2 km2): • 210 federal unpatented lode mining claims Property Size • 12 patented claims • 2 leases of private land • 80km NW of Boise on paved state highway (~1.5 hour drive); 20km east of Access town of Weiser Historical
Slide 17: Nutmeg Mountain - Geology
Nutmeg Mountain - Geology A Reawakened District Figure 3: Visible gold identified in historical drill core starting at 45.4 ➢ Near-surface resource with high-grade feeder system potential meters depth ➢ Very low strip ratio → mineralization starts at surface ➢ Untested +6 meter wide outcropping vein
Slide 18: Nutmeg Mountain – High-Grade Core
Nutmeg Mountain – High-Grade Core Higher grade core offers optionality on potential “starter pit” ➢ Higher-grade core of >1.0 g/t Au material with strong continuity ➢ Outcropping 1-2 g/t Au mineralization ➢ Potential high-grade “starter project” → mine planning opportunity as Nutmeg is advanced into
Slide 19: Nutmeg Mountain – Exploration Upside
Nutmeg Exploration Mountain Upside – Exploration Upside Low-sulphidation system intact, high-grade feeder target has never been tested ➢ Current resource is hosted in Nutmeg Resource near-surface portion of the epithermal system ➢ High-grade veins are expected at depth ➢ Most of the historical drill
Slide 20: Nutmeg Mountain - Environmental, Permitting, Social
Nutmeg Mountain - Environmental, Permitting, Social Idaho is a pro-mining State with many companies operating at advanced stages Action Plan Plan View Claim Boundary • Idaho has a strong history of mining • Ranked 7th in 2021 Fraser Institute • Stakeholder Management is vital for project success • N
Slide 21: Nutmeg Mountain Path Forward
Nutmeg Mountain Path Forward Nutmeg Mtn. will be advanced to a drill program & updated resource, with an Engineering Study delivered in ~12 months Q3-2022 Q4-2022 Q1-2023 Q2-2023 Geology Relogging, Mapping, Sampling Geological Model Update – Phase I ~10,000 meters (Step-Out, Met, Exploration) Geolog
Slide 22: Ptarmigan
Ptarmigan Asset Summary Project Summary (100%-owned) Property Map • 2021 RTO vehicle (Silver Mountain Mines Inc., TSXV:SMM) flagship History asset with active exploration until 2014 • 28 mineral tenures and 5 Crown Granted District Lots covering 93 km2 Size (9,300 hectares) • 30 km west of Radium, B
Slide 23: Ptarmigan – Untapped High-Grade Exploration Potential
Ptarmigan Untapped High-Grade Exploration Potential Key Highlights Exploration Targets • 14,000 meters of historical diamond drilling, key bonanza-grade intercepts include: – 3.65 m of 2,455 g/t Ag, 1.00 g/t Au, 0.91% Cu – 1.16 m of 2,315 g/t Ag, 1.64 g/t Au, 1.10% Cu – 6.80 m of 452 g/t Ag, 0.52 g/
Slide 24: Ptarmigan – Geophysics
Ptarmigan – Geophysics Geophysical datasets have identified prospective targets Key Highlights Geophysical Magnetic Anomaly in RTP Magnetics Data • Extensive geophysical data package has been reprocessed and reinterpreted: • Magnetics • Strong magnetic lineaments parallel to veins Untested • Offsets
Slide 25: Cedar Wash
Cedar Wash Asset Summary Project Summary (100%-owned) Property Map • Grassroots gold discovery by McEwen Mining in 2015-2016 History • ~US$3M to replicate historical work on exploration and drilling • 484 unpatented claims on BLM ground covering ~39 km2 located in Lincoln Size/Location County, Nevad
Slide 26: Cedar Wash – Exploration Upside
Cedar Wash Exploration Upside in an Underexplored Area of Nevada Key Highlights Exploration Targets & Expanded Claims • Extensive gold soil trend >2 km • 7,000 m of shallow air-track and RC drilling completed in 2016-2017, with positive oxide results at or near-surface including: – 10.7 m @ 2.0 g/t
Slide 27: Next 12 Months Work Program
Next 12 Months Work Program NevGold has significant news flow and milestones over 2022-2023 driving a valuation re-rate Nutmeg Mtn. Limousine Cedar Wash ~10,000m drilling Ptarmigan Met Testwork Butte Drill targeting Surface geology Phase II=~7,000m *2022 drill program Trade-Off Studies *2023 drillin
Slide 28: Executive Team & Board of Directors
Executive Team & Board of Directors Experienced team and board with a proven track record of success and relevant project development experience in the Americas Executive Team Board of Directors Brandon Bonifacio • Mining executive with experience in M&A, project development, and project Giulio Boni
Slide 29: Capital Structure
Capital Structure Capital Structure & Share Ownership Updated Shareholder Registry – September 2022 Total Issued and Outstanding 57,993,288 Options1 5,266,000 NevGold Insiders Current Float & Close Associates Warrants (June-2023 Expiry) 3 12,064,360 32% (escrowed/pooled) 49% Total Fully Diluted 75,3
Slide 30: Market Valuation Comparables
Market Valuation Comparables NevGold has valuation re-rate potential as the assets are advanced and largely de-risked • Market comparable group at Historical Resource/Resource/PEA Stage currently trades at average EV/Resource multiple of ~C$84/oz AuEq1 EV/oz Multiple (C$/oz AuEq) $600.0 NevGold Hist
Slide 31: Appendix
Appendix NEVGOLD
Slide 32: Transaction Terms – Option Agreement with GoldMining
Transaction Terms – Option Agreement with GoldMining Favorable transaction terms creating a partnership and long-term commitment with GoldMining Inc. (Green=Completed) • C$3.0M in equity at 30-day volume weighted average price of C$0.675=4,444,444 shares • C$1.5M in equity or cash on January 1, 2023
Slide 33: Transaction Terms – McEwen (Limo Butte, Cedar Wash)
Transaction Terms – McEwen (Limo Butte, Cedar Wash) Acquisition Terms Upfront Cash • C$600,000 on closing ✓ Completed June 23, 2021 • 10% of Resulting Issuer on post-financing basis Equity • ½ warrant at 50% premium to financing price with 24 month term ✓ Completed June 23, 2021 (warrants are priced
Slide 34: Limousine Butte – Resurrection Ridge Hole Locations
Limousine Butte Resurrection Ridge Hole Locations: 1H-2022 Key Highlights Drill Location • Initial drill holes focused on resource delineation at Resurrection Ridge along strike from historically mined pit (Produced ~91,000 oz Au by Alta Gold Corp. from 1989-1990) • Current and future drilling will
Slide 35: Stock Chart – Historical Performance
Stock Chart – Historical Performance NevGold has performed positively relative to industry peers since listing in June-2021 $1.00 800,000 June 2, 2022 April 6, 2022 NAU makes Cadillac Valley discovery: $0.90 NAU intercepts: 73.1m @ 0.51 g/t oxide Au over 175.2m @ 0.86 g/t oxide Au 650m from nearest