Slide 1: Discover, Develop & Deliver Commodities for the Future
Discover, Develop & Deliver Commodities for the Future Greenland & Finland’s Mineral Wealth Corporate Presentation – Interim Results H1 2021 September 2021
Slide 2: Cautionary Statements
Cautionary Statements This presentation (‘Presentation’), and the information contained herein, is not for viewing, release, to, and will be engaged in only with, Relevant Persons. This Presentation must not be acted on or relied on distribution or publication into or in the United States or any oth
Slide 3: Interim Results Highlights for 6 months ending 30th June 2021
Interim Results Highlights for 6 months ending 30th June 2021 Bluejay Mining • Final permits in place to start production at Dundas • Letter of Interest received from EXIM Bank • Enonkoski Joint Venture and US $20 million exploration campaign agreed with Rio Tinto • Drilling commenced at Enonkoski •
Slide 4: Bluejay Investment Case
Discovery, Develop & Delivery… Bluejay Investment Case Strategy Quality, Dedication, 1. Advance the Dundas Ilmenite Respect & Project into Production Growth 2. Drive value through development of other existing Projects 3. Build revenue to self- fund existing and future Projects 4. Strengthen portfol
Slide 5: Bluejay Snapshot: Summary Investment Case
Bluejay Snapshot Summary Investment Case Meeting demand: Ethical, sustainable and responsible sourcing of critical • Global Trends Green Transition & Global Growth Metals – the Bluejay Project Portfolio. Low-risk jurisdiction: Transparent, secure, pro-mining regulated European countries with high •
Slide 6: Bluejay Snapshot
Exploration and development company with a premium project portfolio in Greenland & Finland Bluejay Snapshot Dundas (ilmenite sands - titanium) Enonkoski (Ni-Cu-Co-PGM) Large-scale mineral sand project awaiting mine construction and Bluejay licences cover entire prospective belt that hosts two f
Slide 7: Major Achievements & Activities to date
Major Achievements & Activities to date Bluejay Snapshot 2021 Aug: $15M JV Agreement w. Bill Gates & Jeff Bezos backed KoBold Metals on Disko Ni-Cu- Co-PGM-Au Project 2021 July: £4M deal on Partial divestment of Finnish Black Shales Assets w. Metal One 2021 July: VAT Claim on Overseas Activities Cas
Slide 8: Board & Management
Board & Management A highly experienced board and management team with market, business and technical expertise. Collectively with more than a century of experience in Greenland and Finland together with strong government relations. Dr Bo M. Rod Mike Johannus Stensgaard Peter McIllree Hutchinson Ege
Slide 9: Why Greenland & Finland?
Greenland Whymeans business… Greenland & Finland? Greenland & Finland attractive locations - Strong Resource Potential, Stable and High ESG Standards - GREENLAND FINLAND • A European mineral region with a well- • A European mineral region with a long established and transparent regulatory mining tra
Slide 10: Commodity Exposure
Commodity Exposure Tapping into Global Trends & Needs - Commodities for the Future - Unique Diverse Project Portfolio Kangerluarsuk Zn-Pb-Ag [advanced greenfield – drill ready] Global GDP Metals Society Key Metals Hammaslahti Zn-Cu-Au-Ag Sustainable Growth [advanced brownfield – drill ready] Thunder
Slide 11: Do it the right way… Highest ESG Standards
Do it the right way… Highest Environmental, Social and Governance Standards • Sustainability is a guiding principle in all activities and operations across the entire Company. • Attain goals responsibly and with the greatest respect to the environment, local communities and culture. • Committed to a
Slide 12: The Dundas Ilmenite/Titanium Project
NORTH-WEST GREENLAND The Dundas Ilmenite/Titanium OPTY^ Project Large-scale, fully permitted project
Slide 13: Offtake of Dundas ilmenite concentrate secured
Offtake of Dundas ilmenite concentrate secured Dundas Ilmenite Project Master Distribution Agreement reached with Asian conglomerate for up to 340,000 tonnes per annum of Dundas ilmenite • Large, long established Asian Conglomerate with global interests in Commodity Trading & Industry. • Agreement s
Slide 14: Dundas Ilmenite Project Summary Financials
Dundas Ilmenite Project Summary Financials Internal Rate of Undiscounted NPV5 Life of Mine Return net profit Base Case 32.8% US$83.1M 9 year US$153.1M Expanded Case 34.0% US$130.7M 11 year US$247.2M • US$245M estimated capital expenditure ('CapEx’) for mining, processing etc. • Inclusive of mining,
Slide 15: World Class JORC Resource & Upside Potential
World Class JORC Resource & Upside Potential Dundas Ilmenite Project >2mm <63μm In-Situ TiO2 Classification Location Tonnes (kt) >5mm (%) THM (%) (%) (%) (%) Moriusaq 88,000 27.5 36.1 4.2 27.0 3.1 Iterlak East 19,500 15.3 24.0 12.8 22.2 2.2 Indicated Iterlak West 4,800 23.2 32.4 13.8 11.9 1.0 Total
Slide 16: Next mine in Greenland
Next mine in Greenland Dundas Ilmenite Project • Fully permitted – Exploitation License granted for 30 years. • Simple mining and processing of black heavy mineral-sand rich in ilmenite (FeTiO3) from onshore uplifted beaches in a 12 km × up to 1.5 km areas of the south coast of Steensby Land, Northw
Slide 17: Basic Mining & Processing
Basic Mining & Processing Dundas Ilmenite Project Layout of Dundas Mine & Processing Plant Simple and proven: Low environmental impact: Planned scenario: Options & future add-ons: • Excavation • No chemicals, no crushing, • Onshore mining • Light-rail haulage solution for • Easy transport no liberat
Slide 18: Feasibility Study Cost Breakdown
Feasibility Study Cost Breakdown Dundas Ilmenite Project Total direct costs of $143,030,426: • $24,360,000 for mining • Total Capital Expenditure of US$245M • $57,695,044 for processing • Includes all - mining, processing, storage of dried finished • $60,975,382 for infrastructure product, near shor
Slide 19: Dundas Milestones
Dundas Ilmenite Project Dundas Milestones Advanced discussions on project financing and related due diligence process including sign-off on optimisation option studies (reduced OPEX/CAPEX) and updated feasibility. Commence of Procurement and Construction at Dundas. Fully Permitted: Exploitation Lice
Slide 20: The Disko-Nuussuaq Ni-Cu-Co-PGM-Au Project
WEST GREENLAND The Disko-Nuussuaq OPTY^ Ni-Cu-Co-PGM-Au Project • Early-mover on large-scale drill-ready targets with analogous to Noril’sk-Talnakh Mining District – potential for a Tier 1 discovery
Slide 21: Joint-Venture Agreement with KoBold Metals
Disko Ni-Cu-Co-PGM-Au Project Disko Ni-Cu-Co-PGM-Au Project - Joint-Venture Agreement with KoBold Metals - JV with KoBold Metals – highlights: • Principal investors in KoBold include Breakthrough Energy Ventures, a climate & technology fund, overseen by Bill Gates, and whose investors include Michae
Slide 22: Tier 1 world class potential
Disko Ni-Cu-Co-PGM-Au Project Disko Ni-Cu-Co-PGM-Au Project - Tier 1 world class potential - - The source supplying the green energy transition and battery metal demand - Potential for Disko – at least 12-16Mt of nickel – • Geologically demonstrable that at least 12-16Mt of nickel awaits to be found
Slide 23: The smoking gun…
The smoking gun… Disko Ni-Cu-Co-PGM-Au Project - mineralisation processes have occurred at all scales - 28t large massive Ni-Cu-Co-PGM sulphide Ni-Cu-Co-PGM sulphide globules boulder resting within/one a dyke in contaminated and depleted basaltic lava Pauly 1950 – the Igdlukunguaq locality where the
Slide 24: Disko Exploration Licence - Significant opportunity
Disko Exploration Licence Disko Ni-Cu-Co-PGM-Au Project - Significant opportunity - • Drill-ready targets identified. • Confirmed in multiple datasets – geological, geochemical and geophysical. • Accessible and operational ground; drilling on targets. • Drilling solutions and programmes ready. Two c
Slide 25: Disko Exploration Licence - Summary
Disko Exploration Licence Disko Ni-Cu-Co-PGM-Au Project - Summary - Funding of exploration and drilling secured through US $15M JV with KoBold Metals: • An unique first-mover opportunity for the discovery and development of a world-class tier 1 nickel-copper-cobalt district. • Well-established prosp
Slide 26: Enonkoski Ni-Cu-Co-PGM Project
FINLAND Enonkoski Ni-Cu-Co-PGMOPTY^ Project • US$ 20M JV Agreement with Rio Tinto – underexplored belt with two historical mines and regional potential
Slide 27: Enonkoski JV Agreement with Rio Tinto
Enonkoski JV Agreement with Rio Tinto Enonkoski Ni-Cu-Co-PGM Project • US$ 20M JV Agreement with Rio Tinto on the Enonkoski Ni- Cu-Co-PGM Project. • In the first phase, the world’s second-largest miner could secure 51% ownership by spending $5M by 2023 (65% @ +$5M by 2025; 75% @ +$10M by 2029). • Dr
Slide 28: Kangerluarsuk Zn-Cu-Pb-Ag Project
GREENLAND Kangerluarsuk Zn-Cu-Pb-Ag OPTY^ Project • Drill-ready, data-rich and well-defined targets adjacent to the former and most profitable mine in Greenland – the Black Angel Zn-Pb-Ag Mine
Slide 29: Brownfield Project in Greenland…
Brownfield Project in Greenland… Kangerluarsuk Zn-Cu-Pb-Ag The Kangerluarsuk Project consists of two 100% owned Figures adapted from: Sørensen et al., 2013 mineral exploration licences totalling 692 km2 located within the Karrat Group, a major Paleoproterzoic meta- sedimentary basin with abundant
Slide 30: Exploration licences – upside potential…
Exploration licences – upside potential… Kangerluarsuk licence areas Drill-targets – maiden programme ready for execution… 3D inversion and modelling of the geophysical data (EM) has identified multiple deep, highly conductive bodies. Several of the conductive bodies are coincident with the stro
Slide 31: Kangerluarsuk – ready for drilling…
Kangerluarsuk – ready for drilling… Kangerluarsuk Zn-Cu-Pb-Ag Black Angel 12 km Gossanous ‘Discovery Zone’ at Kangerluarsuk 31 *Geochemical umbers not JORC Compliant
Slide 32: Base metal projects in former mining districts
FINLAND Base metal projects in former OPTY^ mining districts
Slide 33: Worth exploring for $$…
Worth exploring for $$… – Base Metal Projects in former Mining Districts– • Finland is a re-awoken traditional mining jurisdiction - the European-continent’s stable resource supply. • All permissive exploration ground have been taken. Bluejay is first-mover and one of the largest area holders in Ea
Slide 34: Outokumpu Cu-Ni-Co-Zn-Au-Ag Project
FINLAND Outokumpu Cu-Ni-Co-Zn-Au-Ag OPTY^ Project • Potential for attractive commodity basket deposit, including battery metals, within world famous mine district with three former mines
Slide 35: Unique, high-valued and in-demand commodity basket
Outokumpu Cu-Ni-Co-Zn-Au-Ag Project – Unique, high-valued and in-demand commodity basket – • Famous and unique Cu-Ni-Co-Zn-Au-Ag ore type – no comparative deposits elsewhere; brownfield lacking modern assessment. • The unique Outokumpu ore is worthy exploring for: • Copper is very high with credits
Slide 36: Outokumpu – one of the world’s most prolific geological belts
Outokumpu Outokumpu – one of the world’s most prolific geological belts – License areas • The Outokumpu Belt is one of the world’s most prolific Total approx. 50 km2 geological belts. • Hosts multiple high-grade deposits including the world famous Kylylahti Mine Outokumpu copper mine. • Two former m
Slide 37: Hammaslathi Cu-Zn-Au-Ag Project
FINLAND Hammaslathi Cu-Zn-Au-Ag Project OPTY^
Slide 38: History & Mineralisation type
Brownfield district - no competition, Bluejay have monopoly… History & Mineralisation type • Hammaslahti Cu-Zn-Au-Ag Mine – in operation as open pit and underground 1971 to 1986. • 7Mt of ore @ 1.1% Cu and grades of Zn, Ag and Au; strategic corporate decision to stop mining at underground level 500m
Slide 39: Bluejay Snapshot
Exploration and development company with a premium project portfolio in Greenland & Finland Bluejay Snapshot Dundas (ilmenite sands - titanium) Enonkoski (Ni-Cu-Co-PGM) Large-scale mineral sand project awaiting mine construction and Bluejay licences cover entire prospective belt that hosts two f
Slide 40: Contact details
Bo Møller Stensgaard Managing Director, CEO bms@bluejaymining.com Rod McIllree Executive Chairman rod@bluejaymining.com Kevin Sheil Corporate Development & Strategy kevin@bluejaymining.com