Mitre Mining — PDAC 2024
31 slides from Mitre Mining's conference presentation, Mar 5, 2024
Slide 1: High-Grade Silver and Gold
5 March 2024 PDAC Investor Presentation High-Grade Silver and Gold A high-grade Chilean silver-gold mining project positioned for growth that can be fast tracked into production High-Grade Inferred and Indicated Resource base of 50Moz @ 311g/t AgEq A$150M Existing Infrastructure including proces
Slide 2: Disclaimers
DISCLAIMERS This presentation has been prepared by Mitre Mining Corporation Limited (ACN 645 578 454) (Company) based on information from its own JORC CODE and third party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submiss
Slide 3: Investment Highlights: Quality mid-tier scale Silver-Gold project
INVESTMENT HIGHLIGHTS Quality mid-tier scale Silver-Gold project Upside Resources and Mines Infrastructure Significant Resource Growth Shallow high-grade Silver-Gold with multiple A$150M of infrastructure & investment in place mining fronts Resource drilling commenced Processing infrastructure
Slide 4: Corporate Overview
CORPORATE OVERVIEW Mitre Board and Management invested A$1 million in recent placement CURRENT SHARE MARKET CASH CURRENT PRICE1 CAPITALISATION1 POSITION2 ENTERPRISE VALUE1 CAPITAL STRUCTURE A$0.27 ~A$24M A$4.1M A$20M ASX Code MMC Shares on issue 89.2M Options & performance rights3 35.9M Top 20 Share
Slide 5: Board and Management
BOARD AND MANAGEMENT Proven leadership team in the resource sector Maddison Cramer Company Secretary Cygnus Metals, Firefly Metals, Midas Minerals Sue Field Financial Controller Alicanto Minerals, Riedel Resources Patrick Gowans Ray Shorrocks Carl Travaglini Tim Laneyrie Damien Koerber Non-Exec Chai
Slide 6: Chile – A World Class Endowment
CHILE – A WORLD CLASS ENDOWMENT PREMIER 30Moz GOLD EQUIVALENT RESOURCES AND RESERVES Location of the Cerro Bayo Project in the Deseado Massif and Historic Production *Significant historic and operating mines with approximate past production-remaining resources
Slide 7: Silver – Critical in Everyday Life
SILVER – CRITICAL IN EVERYDAY LIFE 1600 800 Anticipated 1400 700 US demand only 1200 600 1000 500 Moz SIlver 800 Moz Silver 400 600 300 400 Global Silver Demand in Solar Industry 200 200 0 100 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023E 0 Mine (Moz) Recycling (Moz) Demand (Moz) 2014 2015 2016
Slide 8: Cerro Bayo – A Premier Mining District
CERRO BAYO – A PREMIER MINING DISTRICT • Cerro Bayo project represents ~300km2 of highly prospective tenure • District to date has yielded ~140Moz AgEq: • ~91Moz AgEq of combined silver and gold production between 1995-2017 (~0.65Moz Au and 45Moz Ag) at 4 ̴ 50 g/t AgEq • A current JORC Resource of 5
Slide 9: High Grade Resource - Taitao
HIGH GRADE RESOURCE - TAITAO • JORC Inferred Resource of 3.8Mt @ 206g/t AgEq for 24.7Moz AgEq • Open pit broad breccia target zone with high grade underground feeder veins • Resource from surface with open pit average depth of 45m • Optimized pit crest within 100m of processing facility • System plu
Slide 10: Delia SE – High Grade and Accessible
DELIA SE – High Grade and Accessible • Vein width typically up to 5.2m • Current Resource OPEN to the south and down plunge • Resource contained in top 300m • Number of high-grade veins parallel and oblique to Delia not in current resource are to be evaluated progressively with further resource upda
Slide 11: Coyita Vein – Rapid Value Growth
COYITA VEIN – Rapid Value Growth • High-grade mineralisation OPEN • Exceptional grades underpin a high value resource • Coyita veins over 1.3km of strike • Access to Coyita Nth vein via the established Coyita Decline. • Coyita Sth can be rapidly accessed by the development of a 650m 1:7 southern ext
Slide 12: Drilling Commenced – High Grade Prospects
Drilling Commenced – High Grade Prospects Rapid Resource Growth • Mitre Mining’s maiden drilling campaign strategy is aimed at growing the Resources through drilling at high priority brownfields targets within a 3km radius of the processing plant. • The first walk up drill targets include Pegaso 7 a
Slide 13: Laguna Verde District – 50Moz AgEq Resource and growing
Laguna Verde District – 50Moz AgEq Resource and growing Taitao South multiple high-grade veins rock chips and channels: • 34,421 g/t Ag & 169.2 g/t Au • 22,020 g/t Ag & 112 g/t Au • 3,663 g/t Ag & 29.8 g/t Au • 1,315 g/t Ag & 1.9 g/t Au • 2,657 g/t Ag & 4.6 g/t Au Pegaso 7 veins rock chips: • 16,547
Slide 14: Cerro Bayo District – Untapped potential
Cerro Bayo District – Untapped potential Historic Production of ~48.3Moz AgEq Brillantes high-grade vein rock chips: • 1,311 g/t Ag & 5.6 g/t Au • 704 g/t Ag & 4.2 g/t Au • 556 g/t Ag & 18.2 g/t Au • 56 g/t Ag & 0.2 g/t Au, 1.4% Cu, 53.1% Pb Raul West vein high-grade rock chips: • 2,090 g/t Ag & 17.
Slide 15: Huge Regional Upside – Cerro Diablo and Los Domos
HUGE REGIONAL UPSIDE – CERRO DIABLO AND LOS DOMOS • Los Domos geological model related to HOD MADEN style • Large Permit with high priority walk up drill targets Hybrid mineralization • Polymetallic intermediate sulphidation style deposit • Exception high grade surface rock chips including: with onl
Slide 16: Ready to Go A$150M Mine Infrastructure
READY TO GO A$150M MINE INFRASTRUCTURE Situated 20km by road west of the mining town of Chile Chico (population 5,000) CERRO BAYO MINE COMPLEX PROCESSING FACILITY SITE INFRASTRUCTURE MINING EQUIPMENT • 2 Mining districts • 1,650tpd floatation plant in excellent condition • 1,600m2 mine administratio
Slide 17: Potential Re-rate Through Rapid Growth and Near-Term Production
POTENTIAL RE-RATE THROUGH RAPID GROWTH AND NEAR-TERM PRODUCTION EXPLORERS/DEVELOPERS PRODUCERS 8.00 1,200.0 $1,600 EV/OZ $1,422 7.00 $1,400 Global Resoruce GRade (Ageq g/t) MI&I Grade 1,000.0 $1,200 6.00 Comparable high-grade Explorers Axis EV/Oz Ageq (A$) EV/oz ~ A$1.50 800.0 $1,000 EV (A$m) 5.00 $
Slide 18: A World Class Deposit in the Making
Silver Equivilant (Moz) 0.0 50.0 100.0 150.0 200.0 250.0 Immaculda (HOC) La Coipita (ABRA) San Dimas (FR) Refer to Appendix B for comparative data. Dolly Varden (DV) Las Chispas (SIL) through drilling Azuca (HOC) Terronera (EDV) Rapid low-cost resource growth Pallancata (HOC) Zgounder (AYA) Santa El
Slide 19: Catalyst Rich - 12 Months Newsflow
CATALYST RICH - 12 MONTHS NEWSFLOW First 12 months of works is to create value with the drill rig Multiple high-grade silver and gold targets with rapid low-cost and high-grade resource growth. Please note that timeframes are indicative and may be subject to change.
Slide 20: Cerro Bayo Silver-Gold Project: A Transformational Acquisition
CERRO BAYO SILVER-GOLD PROJECT A TRANSFORMATIONAL ACQUISITION Highlights ‣ A significant ready-to-go silver-gold mine in the Deseado Massif, Chile ‣ A world class mining province host to Newmont, Yamana, Anglo Ashanti, McEwen Mining ‣ Rapid and immediate resource growth potential – Drilling to start
Slide 21: Appendices
APPENDICES • Appendix A - Infrastructure Overview, Resource Overview and Geology Summary • Appendix B - Silver-Gold Deposit/Company Comparisons • Appendix C - Silver Statistics • Appendix D - Mineral Resources
Slide 22: Appendix A – Infrastructure Overview: 500ktpa Float Plant & Power
APPENDIX A – INFRASTRUCTURE OVERVIEW 500ktpa FLOAT PLANT & POWER ROUGHER SAG MILL SCAVENGER BALL MILL THICKENER VERTI MILL TANK CLEANER Current Power Grid (6 x 1MW installed + 3 Disconnected backup Power Grid (6 x 1MW Wind power (1.8MW total) spare + 1 x 500KW) New Filter Press (installed diesel Gen
Slide 23: Appendix A – Infrastructure Overview: Coyita and Delia Mine
APPENDIX A – INFRASTRUCTURE OVERVIEW COYITA AND DELIA MINE INFRASTRUCTRE DELIA SUR MINE COYITA NORTE MINE
Slide 24: Coyita Resource – Feb24
COYITA RESOURCE — FEB24 MITRE MINING s CORPORATION COYITA SE COYITA Nth Existing Coyita Nth Decline and acess ~650m @ 1:7
Slide 25: Delia Resource – Feb24
DELIA RESOURCE — FEB24 MITRE MINING - CORPORATION DELIA SE TRINIDAD
Slide 26: Cerro Bayo – District Scale Potential
CERRO BAYO – DISTRICT SCALE POTENTIAL Pegaso 6 & 8 veins rock chips: 2km • 16,547 g/t Ag & 19.1 g/t Au Brillantes high-grade vein rock chips: • 4.326 g/t Ag & 15.2 g/t Au • 1,311 g/t Ag & 5.56 g/t Au • 4,240 g/t Ag & 10.3 g/t Au • 704 g/t Ag & 4.2 g/t Au • 2,797 g/t Ag & 10.1 g/t Au • 556.5 g/t Ag &
Slide 27: Chile - A Globally Significant Jurisdiction
CHILE - A GLOBALLY SIGNIFICANT JURISDICTION Globally significant Metals Producer Renewable Energy Leader1 • 1st in Copper (~23%) • 2030 goal to supply 70% of total energy consumption as renewables • 2050 Goal to be 100% carbon neutral • 2nd in Lithium (~24%) • Energy transition has bi-partisan polit
Slide 28: Cerro Bayo Silver-Gold Project: A Transformational Acquisition
CERRO BAYO SILVER-GOLD PROJECT A TRANSFORMATIONAL ACQUISITION ‣ A significant ready-to-go underground & open pit silver-gold mine in the Deseado Massif, Chile ‣ A world class mining province host to Newmont, Yamana, Anglo Ashanti, McEwen Mining ‣ Rapid and immediate low cost resource growth THE OPPO
Slide 29: Appendix B – Silver-Gold Deposit Comparisons
APPENDIX B – SILVER-GOLD DEPOSIT COMPARISONS Deposit country Company Tonnes (Mt) Ag (g/t) Au (g/t) Contained Ag (Moz) Contained Au (koz) Ageq (g/t) Ageq (Moz) SOURCE Immaculda Peru HOC 18.9 124 3.1 75.0 1864 381 231 https://www.hochschildmining.com/where-we-operate/reserves-resources/ La Coipita Arg
Slide 30: Appendix C – Silver Statistics
APPENDIX C – SILVER STATISTICS Global Silver production versus demand Year Mine (Moz) Recycling (Moz) Demand (Moz) Deficit (Moz) 2014 882 160.4 1110 -67.6 2015 896 146.9 1153 -110.1 2016 899.8 145.6 1074 -28.6 2017 863.6 147 1053 -42.4 2018 850.3 148.5 1081 -82.2 2019 836.6 148 1086 -101.4 2020 782.
Slide 31: Appendix D – Laguna Verde Project Mineral Resources
APPENDIX D – LAGUNA VERDE PROJECT MINERAL RESOURCES Mineral Resource Estimate as at 1 March 2023 Indicated 1. Mineral Resources are classified and reported in accordance with the 2012 Tonnes Ag Au Silver Gold AgEq AgEq AuEq AuEq Area JORC Code. (Mt) (g/t) (g/t) (Moz) (koz) (g/t) (Moz) (g/t) (koz) 2.