Foran Mining — Investor Presentation (June 2020)
31 slides from Foran Mining's investor presentation, June 2020
Slide 1: Corporate Presentation June 2020
TSXV: FOM US OTC: FMCXF foranmining.com CORPORATE PRESENTATION June 2020 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 2: Forward Looking Statement
F O R W A R D L O O K I N G S TAT E M E N T This presentation contains "forward-looking information" (also referred to as "forward looking statements"), which relate to These forward looking statements are made as of the date hereof and, except as required by applicable securities regulations, futur
Slide 3: McIlvenna Bay
McIlvenna Bay Zinc | Copper | VMS 3 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 4: Top Canadian Mining Jurisdiction
S A S K AT C H E W A N Top Canadian Mining Jurisdiction* McILVENNA BAY Ranked #11 globally *Fraser Institute Annual Survey of Mining Companies 2019 4 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 5: Flin Flon Greenstone Belt
F L I N F LO N G R E E N S TO N E B E LT HANSON LAKE FLIN FLON SNOW LAKE DISTRICT DISTRICT DISTRICT LALOR McILVENNA BAY Largest undeveloped deposit along trend 777 TARGET A BALSAM BIGSTONE THUNDER ZONE 225km 5 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 6: Hanson Lake VMS District
HANSON LAKE VMS DISTRICT 10 Km 6 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 7: McIlvenna Bay Pre-Feasibility Study Results
M c I LV E N N A B AY PRE-FEASIBILITY STUDY RESULTS Canadian dollars unless otherwise indicated Pre-Tax NPV (7.5%) ($M) 218.6 Metal Prices 3 year trailing average (USD) (2) Pre-Tax IRR (%) 23.4% After-Tax NPV (7.5%) ($M) 147.1 Zinc (lb) 1.26 After-Tax IRR (%) 19.2% Copper (lb) 2.82 Undiscounted Afte
Slide 8: PFS Capital and Operating Cost Summary
M c I LV E N N A B AY PRE-FEASIBILITY STUDY RESULTS Canadian dollars unless otherwise indicated Capital Cost Summary Operating Cost Summary Pre- CAD/t Sustaining Total Production processed Mine 72.7 273.9 346.6 Mining 41.19 Mill 100.6 7.2 107.8 Milling 19.55 Infrastructure 50.8 0.0 80.8 Infrastructu
Slide 9: Metallurgical Recovery and Concentrate Grades
M c I LV E N N A B AY PRE-FEASIBILITY STUDY RESULTS Canadian dollars unless otherwise indicated Metallurgical Recovery Copper Zinc Gold Silver (LOM Average) Massive Sulphide Recovery % 80.9 81.8 68.8 53.7 CSZ Recovery % 96.2 10.0 97.5 78.5 Blended Recovery % 88.2 80.0 79.1 58.0 Concentrate Grades Co
Slide 10: Revenue by Metal
M c I LV E N N A B AY REVENUE BY METAL ZINC 48% COPPER 38% SILVER 4% GOLD 11% 10 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 11: Probable Mineral Reserves
M c I LV E N N A B AY PROBABLE MINERAL RESERVES McIlvenna Bay Mineral Reserve Statement (@US$100/t NSR cut-off) Note: 2019 Mineral Resource Estimate was based on US$60/t NSR cut off GRADE Probable Tonnes Zn Cu Au Ag (%) (%) (g/t) (g/t) Massive Sulphide 7,773,176 5.71 0.88 0.51 25.24 Copper Stockwork
Slide 12: VMS Deposit Size Comparison
62.5 VMS DEPOSITS 35 Flin Flon – Snow Lake – McIlvenna Bay McIlvenna Bay 30 22.95 Mt (Indicated) 11.15 Mt (Inferred) 25 VMS Deposits form in clusters • Majority of deposits in each cluster are 3–5 Mt • Potential for 1-2 large (+20Mt) to very large (+50Mt) deposits Deposit Size 20 (Mt) 15 10 5 0 McIl
Slide 13: McIlvenna Bay Development Milestones
M c I LV E N N A B AY D E V E L O P M E N T M I L E S T O N E S 2018 2019 2020 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Data Compilation Metallurgical Testing Resource Estimate (McIlvenna Bay) EIA / Permitting Pre-Feasibility Study Feasibility Study Community Engagement Production Decision Deta
Slide 14: Zinc and Copper Demand
ZINC AND COPPER DEMAND MINIMUM SUPPLY NEEDED from new projects by 2027/28 “Prepare for a decade 4.2 Mt 4.7 Mt of Dr. Copper on steroids.” COPPER ZINC Citigroup Inc.– Max Layton and Tracy Liao, July 2018 Source: Teck Corporate Presentation, Feb 2019 14 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 15: Foran Elements of Success
FORAN ELEMENTS OF SUCCESS VMS PROJECT Zinc | Copper Large tonnage Pre-feasibility Saskatchewan Past success Historicc LOCATION PEOPLE Leadership Infrastructuree Community Synergy Glencore Production decision Target A Demandd Thunder Zone TIMING GROWTH Supply deficitt Bigstone 15 | TSXVFOM | OTCFMCXF
Slide 16: Contact Us
C O N TA C T U S 904-409 Granville Street Vancouver, BC, Canada V6C 1T2 P: 604-488-0008 E: ir@foranmining.com W: www.foranmining.com 16 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 17: Appendix
APPENDIX 17 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 18: Resource Update
2 0 1 9 R E S O U R C E U P D AT E * 65% increase in 11.15 million indicated resources tonnes Now 22.95 million tonnes Inferred resources 1.5 billion lbs Zn 450 million lbs Zn 590 million lbs Cu 340 million lbs Cu Contained metals (indicated) Contained metals (inferred) *Released May 28, 2019 – see
Slide 19: 2019 Mineral Resource Estimate
M c I LV E N N A B AY 2019 Mineral Resource Estimate Tonnes Cu Zn Pb Au Ag CuEq ZnEq Zone (Mt) (%) (%) (%) (g/t) (g/t) (%) (%) 2019 Main Lens – 9.25 0.90 6.43 0.40 0.52 25.97 10.25 Massive Sulphide Lens 3 1.99 0.85 3.29 0.14 0.27 14.71 6.45 INDICATED Stringer Zone 0.70 1.38 0.62 0.04 0.35 13.34 1.73
Slide 20: Foran Share Structure
FORAN SHARE STRUCTURE COMMON COMMON SHARES OPTIONS WARRANTS SHARES Issued & Outstanding* Fully Diluted 139.9 M 5.8 M 3.6 M 149.3 M TSXVFOM PRICE SHAREHOLDERS 3 Month $0.08 - $0.17 18% 16% Management & Directors High Net Worth 52 Week Hi/Lo $0.31/$0.08 1% (incl. Pierre Lassonde ~10.7%) Institutional
Slide 21: Leadership Team
LEADERSHIP TEAM Darren Morcombe Patrick Soares Executive Chairman President & CEO DIRECTORS Maurice Tagami David M. Petroff Technical Ambassador Former President, CEO & Director Wheaton Precious Metals Breakwater Resources Darren Morcombe Patrick Soares Executive Chairman President & CEO MANAGEMENT
Slide 22: Feasibility Drilling Plan Map
FEASIBILITY DRILLING PLAN MAP 22 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 23: Long Section Massive Sulphide
LONG SECTION MASSIVE SULPHIDE 23 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 24: Long Section Copper Stockwork
LO N G S E C T I O N CO P P E R STO C KW O R K 24 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 25: Typical Cross Section
TYPICAL CROSS SECTION 25 | TSXVFOM | OTCFMCXF | FORANMINING.COM
Slide 26: Community
COMMUNITY The Peter Ballantyne Cree Nation communities of Amisk Lake, Pelican Narrows and Deschambault are near the McIlvenna Bay Project. It is important to the team at Foran to maintain a good relationship with community members and leaders, as well as work with local consulting firms and companie
Slide 27: Exploration
E X P L O R AT I O N THUNDER McILVENNA ZONE BAY1 First new discovery FLAGSHIP DEPOSIT in 30 years Updated Resource Discovery Hole issued May 2019 3.70m @ 4.07%Cu and 0.43g/tAu 10km Discovery Hole 1000m 1 Effective date May 7, 2019; Metal prices used are US$3.30/lb. Cu, US$1.25/lb. Zn, US$1.00/lb. Pb
Slide 28: Thunder Zone
THUNDER ZONE First new discovery in Discovery 30 years1 Hole: • Cu and Zn-rich VMS • 3.70m @ 4.07% Cu and mineralization 0.43g/tAu • Discovered using updated geophysics THUNDER ZONE Higher grades than Open along McIlvenna Bay strike • 2015 drilling confirmed • Thickening down and expanded plunge dis
Slide 29: Bigstone
B I G S TO N E Historic resource1 Infill Drilling to NI43-101 • 2015 drilling – 6 holes • Specific gravity • High grade Cu +/- Zn underestimated 18.4% Zn2 2.0% Cu2 • Over 12 m, including: • Over 105 m, including: • 27.0% Zn over 7.6m • 4.1% Cu over 20.0 m • 1.4% Cu over 10.6m BIGSTONE • 3.4% Cu over
Slide 30: McIlvenna Bay 2019 Resource Footnotes
M c I LV E N N A B AY 2019 RESOURCE FOOTNOTES 1 Effective date May 7, 2019; CIM definitions were 3 Mr. William Lewis, P.Geo., of Micon International Limited, followed for Mineral Resources; CuEq = copper prepared this mineral resource estimate. Mr. Lewis is equivalent; ZnEq = zinc equivalent; NSR =
Slide 31: Vancouver Office Contact Details
904 – 409 Granville St. Vancouver, BC, Canada V6C 1T2 Tel: 604.488.0008 www.foranmining.com TSXV: FOM US OTC: FMCXF 31 | TSXVFOM | OTCFMCXF | FORANMINING.COM