Nevgold Corp · TSXV:NAU
Nevgold — Investor Presentation (May 2023)
31 slides from Nevgold's investor presentation, May 2023
Slide 1: Corporate Presentation
Corporate Presentation (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50) May 2023 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: Historical Mineral Resource Estimates
Historical Mineral Resource Estimates Nutmeg Mountain’s Historical Mineral Resource Estimate (“MRE”) information is extracted from a report titled "NI 43-101 Technical Report – Almaden Gold Property, Washington County, Idaho” completed by GoldMining Inc. with an effective date of April 1, 2020. NevG
Slide 4: Why NevGold? Investment Highlights
Why NevGold? 1 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 (Idah
Slide 5: Attractive Locations – Focus on The Americas
Attractive Locations – Focus on The Americas NevGold has four promising district-scale assets in top-tier jurisdictions in the Western Americas Limousine Butte (Nevada) ✓ Carlin-style deposit with Historical 2009 Resource1: 241kozs Measured & Indicated (0.77 g/t Au), 51kozs Inferred (0.70 g/t Au) ✓
Slide 6: Project Benchmarking - Heap Leach, Western USA
Project Benchmarking - Heap Leach, Western USA Heap-leach projects comparison in the Western USA • Limousine Butte: drilling is focused on advancing the project to an updated resource estimate • Nutmeg Mountain: Historical 2020 Resource1=910kozs Indicated, 160kozs Inferred with growth potential • Gl
Slide 7: 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 • 934 hole
Slide 8: Nutmeg Mountain – Strong Upside Potential
Nutmeg Exploration Mountain Upside – Strong Upside Potential Low-sulphidation system intact, high-grade feeder target has never been tested & more near-surface growth ➢ Historical 2020 Resource is 2020 Nutmeg hosted in near-surface portion Historical Resource1 of the epithermal system ➢ High-grade v
Slide 9: Nutmeg Mountain – 2023 Drill Results
Nutmeg Mountain – 2023 Drill Results Initial 2023 drill results released; further assays pending Key Highlights Nutmeg Mountain Cross Section1 • Near-surface, high-grade, heap-leach gold mineralization • Significant exploration potential below the Historical 2020 Resource1 US$1500/oz pit-shell • +10
Slide 10: Nutmeg Mountain – Historical 2020 Resource
Nutmeg Mountain – Historical 2020 Resource Cut-off grade analysis • Historical 2020 Resource1 completed cut-off grade sensitivity analysis outlined in the below table Historical 2020 Resource Cut-Off Grade Analysis1 1. See Nutmeg Mountain Historical Resource disclosure on Page 3. 10
Slide 11: 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 12: Limousine Butte
Limousine Butte Asset Summary Project Summary (100%-owned) Property Map • 821 unpatented mining claims on BLM ground covering ~67 km2 north of Ely, Property Size Nevada • ~104 km north-northwest of Ely Access • Via paved state highway (85 km) and county-maintained gravel road (19 km) • Significant e
Slide 13: 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 • Currently d
Slide 14: Limousine Butte – District Scale
Limousine Butte – District Scale Exploration upside potential, large +20km strike length Key Highlights Resource Expansion & Exploration Targets ➢ 10,000m 2022 Drill Program completed • Focus of drill program was on Resurrection Ridge and >20km strike length Cadillac Valley target areas ➢ Large, und
Slide 15: Limousine Butte - Geology
Limousine Butte - Geology 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
Slide 16: Limousine Butte – Resurrection Ridge
Limousine Butte – Resurrection Ridge 2022 drill results released at Resurrection Ridge Key Highlights Resurrection Ridge Cross Section • Near-surface, high-grade, oxide gold deposit X X’ • Average thickness of holes at RR is ~65 meters • Drill results include: • 61.6m @ 2.19 g/t Au oxide • Including
Slide 17: Limousine Butte – Resurrection Ridge Mineralized Footprint
Limousine Butte – Resurrection Ridge Mineralized Footprint Resurrection Ridge has another +1.0km of prospective untested strike length to the northeast Key Highlights Plan of Resurrection Ridge Mineralized Footprint • Mineralized footprint now expands over 700 meters along strike and over 350 meters
Slide 18: Limousine Butte – Resurrection and Cadillac Target Areas
Limousine Butte – Resurrection and Cadillac Target Areas Unlocking two key target areas advancing to an updated mineral resource estimate Key Highlights Plan View of Resurrection Ridge and Cadillac Valley • Drilling completed at both target areas in 2022 Resurrection A’ Ridge • Distance of +2km’s be
Slide 19: Limousine Butte – Cadillac Valley
Limousine Butte – Cadillac Valley 2022 drill results released at Cadillac Valley Key Highlights Cadillac Valley Long Section • Thick intercepts of high-grade, oxide gold • Average thickness of holes drilled is ~90 meters • 175.2m @ 0.86 g/t Au oxide B B’ • Including 58.2m @ 2.13 g/t Au oxide • Also
Slide 20: 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 21: Ptarmigan
Ptarmigan Asset Summary – Potential Spin-Out or Monetization in 2023 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 Si
Slide 22: 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 • 191 unpatented claims on BLM ground covering ~15 km2 located in Lincoln Size/Location County, Nevad
Slide 23: 2023 Work Program
2023 Work Program NevGold has significant news flow and milestones over 2022-2023 driving a valuation re-rate Nutmeg Mtn. Limousine Ptarmigan Cedar Wash ~8,000m drilling Butte Drill program paused Drill program paused Resource Update ~5,000m drilling 2023 Q1 Q2 Q3 Q4 Nutmeg – Phase I drilling = ~5,0
Slide 24: 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 25: Capital Structure
Capital Structure Capital Structure & Share Ownership Updated Shareholder Registry – April 2023 Total Issued and Outstanding 71,418,219 NevGold Insiders & Close Associates Options1 5,266,000 Current Float 31% 45% Warrants (June-2023/Dec 2024 Expiries) 3 17,289,987 Total Fully Diluted 93,974,206 Mark
Slide 26: Market Valuation Comparables – THE ROADMAP
Market Valuation Comparables – THE ROADMAP NevGold has immediate valuation re-rate potential as the assets are advanced and largely de-risked • Market comparable group trades at average EV/Resource multiple of ~C$70/oz AuEq1 • NevGold currently trades at less than ~C$15/oz AuEq of historical resourc
Slide 27: Appendix
Appendix NEVGOLD
Slide 28: 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 29: 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 30: Nutmeg Mountain – Core Photos
Nutmeg Mountain – Core Photos X’ X’ X Figure 1: Visible gold identified in historical drill core starting at 45.4 meters depth Figure 2: NMD0003 from 31.7 meters to 34.4 meters (104 Figure 3: NMD0003, hydrothermal vein-breccia that starts at to 113 ft.), included in the zone that assayed 13.4 meters
Slide 31: Stock Chart – Historical Performance
Stock Chart – Historical Performance Drill results will be steady over the next 6-9 months; historically best performance was on positive drill results NevGold has performed positively relative to industry peers since listing in June-2021 Very strong volume traded for < C$50M market capitalization c