Denarius Metals Corp. · NEO:DMET
Denarius Metals — Investor Presentation (December 2024)
39 slides from Denarius Metals's investor presentation, December 2024
Slide 1: An Emerging Metals Producer in Spain and Colombia
An Emerging Metals Producer in Spain and Colombia Corporate Presentation December 2024 Cboe CA: DMET | OTCQX: DNRSF
Slide 2: Cautionary Notes
Cautionary Notes Forward Looking Statements This presentation contains statements that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Any statements that express or involve discussions with respe
Slide 3: Emerging Metals Producer in Spain and Colombia
Emerging Metals Producer in Spain and Colombia Near-Term Production Two Projects Coming Into Production in the Next 12 Months In-Demand Critical Minerals Cu, Zn, Pb, Ni, Au, Ag, Co, Pt, Pd Favorable Proximity The Right Jurisdictions; Proximal to Nearby Producers High-Grade Projects Rich History; Exp
Slide 4: Our Projects
Our Projects Aguablanca Project Lomero Project Ni, Cu, Co, Pt, Pd, Au Cu, Zn, Pb, Au, Ag ~88km from Lomero, Southern Spain’s Iberian accelerating the path to Pyrite Belt, the largest production with an existing concentration of massive underground mine and sulfides in the world. capacity at its 5,00
Slide 5: Company Overview
Company Overview Exercise Price Number Expiry Per Share Management Common shares (DMET) 93,500,289 Serafino Iacono Executive Chairman & CEO Shares issuable for: Michael Davies Chief Financial Officer Listed warrants (DMET.WT) (1) 7,500,000 2026 CA$8.00 Unlisted Warrants 80,370 2026 CA$8.00 Federico
Slide 6: Spain
Spain A Historic, Prolific and Supportive Mining Jurisdiction According to the latest Spain has a rich history of The Spanish mining industry The Spanish mining sector Spain is considered a The mining industry in Spain Eurostat estimates, Spain's mining, with evidence of is composed of both employs
Slide 7: In-Demand Critical Minerals
In-Demand Critical Minerals Powering a Low-Carbon Future Nickel Copper Zinc Lead Silver Aguablanca Project Aguablanca Project Aguablanca Project Aguablanca Project Zancudo Project Extremadura, Spain Extremadura, Spain Extremadura, Spain Extremadura, Spain Cauca Belt, Colombia Lomero Project Lomero P
Slide 8: Near-Term Producer of Low Carbon Metals in Europe
Near-Term Producer of Low Carbon Metals in Europe Toral Project Future Underground Mine Centralized processing at the Rio Narcea plant located in Extremadura, Spain Zn-Pb-Ag • 5,000 tpd turnkey processing plant using conventional crushing, grinding and flotation processes • Fully permitted • Central
Slide 9: Proximity to Nearby Producers and Projects
In-Demand Critical Minerals Proximity to Nearby Producers AGUABLANCA and Projects Approximate distance from Lomero to: Aguablanca Project and 5,000 tpd Plant 88 km Lundin Mining - Neves-Corvo 136 km Sandfire Matsa - Aguas Tenidas 10 km Atalaya Mining - Rio Tinto 46 km First Quantum - Las Cruces 110
Slide 10: Aguablanca Project Highlights
Aguablanca Project Highlights Extremadura, Spain 50% Owned through Alto Minerals S.L.U. 250km Glencore Zinc Smelter Ni Cu Co Pt Pd Au Toral Project Historic Producer with Turnkey Processing Plant Spain Discovered in 1994, the Aguablanca Mine is one of the only deposits in Spain able to produce nicke
Slide 11: Aguablanca Project - A Rich History
Aguablanca Project - A Rich History 1994 Discovery of the Ni-Cu deposit in Aguablanca 1996 Atlantic Copper acquires rights to exploit the Deposit 2001 Rio Narcea Recursos S.A. acquires rights to exploit the Deposit Environmental Impact Statement (EIS) received by the authorities. 2003 Beginning of p
Slide 12: Aguablanca Project - Key Investment Highlights
Aguablanca Project - Key Investment Highlights Aguablanca mine is the unique nickel mine in Spain. Nickel and copper have been classified as critical raw materials for the European Union as these metals are considered key for the energy transition. Proven track record with 11 years of prior mining o
Slide 13: Aguablanca Project Mineral Resources and Reserves Estimate
Aguablanca Project Mineral Resources and Reserves Estimate Mineral Resource Estimate Effective Date March 24, 2024 Grade Contained Metal Resource Cutoff Tonnage Ni Cu Co Pd Pt Au NiEq Ni Cu Co Pd Pt Au NiEq Category (Ni%) (K tonnes) (%) (%) (%) (ppm) (ppm) (ppm) (%) (Klbs) (Klbs) (Oz) (Oz) (Oz) (Oz)
Slide 14: Aguablanca Project - Pre-Feasibility Study
Aguablanca Project - Pre-Feasibility Study (1) “ Key Economic Parameters of the PFS effective as at March 24, 2024: Assumption / Results 100% Basis (*) Total tonnes processed from underground mining over the LOM 4,807,000 Average LOM process rate 2,403 tpd The PFS confirms our decision late last yea
Slide 15: Cboe CA: DMET | OTCQX: DNRSF
Cboe CA: DMET | OTCQX: DNRSF 15
Slide 16: Lomero Project Highlights
Lomero Project Highlights Iberian Pyrite Belt, Spain 100% Owned through Alto Minerals S.L.U. 250km Glencore Zinc Smelter Toral Project Cu Zn Pb Au Ag Spain Located in a World Class Mining District 800km The Iberian Pyrite Belt is the largest concentration of massive sulfides in the Madrid world. The
Slide 17: Lomero Project - A Rich History
Lomero Project - A Rich History Exploration Production Billition Mining commenced in the late 1850’s and continued until 1990 1984 Conducted a program of 60 underground diamond drilling holes A small amount of ore came from the two pits at Lomero (east) and Poyatos (west), but most of the historical
Slide 18: Lomero Project – Investigation Permits Located on IPB Mineralized Trend
Lomero Project – Investigation Permits Located on IPB Mineralized Trend Palomarejo Lomero-Poyatos • 454 hectares • 151 hectares area adjacent to and on strike with the mineralized Lomero-Poyatos deposit • 100% held by Alto Minerals S.L.U., a subsidiary of Denarius Metals • 100% held by Alto Minerals
Slide 19: Lomero Project - Mineral Resource Estimate
Lomero Project - Mineral Resource Estimate Denarius Metals prepared an NI 43-101compliant MRE(1) for the Lomero Project effective July 31, 2023 Category Tonnes Gold Gold Metal Silver Silver Metal Copper Copper Metal Zinc Zinc Metal Lead Lead Metal CuEq Grade Content Grade Content Grade Content Grade
Slide 20: Lomero Project - Exploration Program Next Steps
Lomero Project - Exploration Program Next Steps LEGEND DENARIUS Drilling Previous Drilling POYATOS - LAS MERINAS TARGET AREA The Company is currently preparing a PEA based on the current Mineral Resource estimate (MRE) that is expected to be completed in early 2025. The Company intends to follow up
Slide 21: Toral Project Highlights
Toral Project Highlights Leon Province, Spain 100% through Europa Metals Iberia S.L. 250km Glencore Zinc Smelter Toral Project Zn Pb Ag Spain Located in a Well-Mineralized Historic Mining Area and Proactive Jurisdiction Represents a unique opportunity to develop a high-quality base metal project in
Slide 22: Toral Project - A Rich History
Toral Project - A Rich History 1972 to Peñarroya-Adaro 1984 80 holes and 40 deviations (~45,000 m) drilling 1992 Geominera to Re-evaluation 1995 2005 Lundin Mining to 7 holes (4,700 m) 2008 2009 Goldquest Mining to Soil and rock geochemistry, old labors mapping, 2011 re-evaluation, MICON NI-43-101 2
Slide 23: Toral Project - Mineral Resource Estimate
Toral Project - Mineral Resource Estimate Europa Metals published (1) an updated JORC 2012 compliant MRE (2) for the Toral Project in November 2022 Europa Metals’ successful 2022 drilling campaign led to a 19% increase in the Indicated MRE and a 14% increase in overall grade. A total of 61,545 m of
Slide 24: Toral Project - 2023 Exploration Program
Toral Project - 2023 Exploration Program The 2023 drilling campaign, funded by Denarius Metals under the former Option Agreement with Europa Metals, comprised of 9 holes for a total of approximately 6,200 meters. The drilling campaign represented a combination of confirmatory drilling followed by a
Slide 25: Toral Project - Next Steps
Toral Project - Next Steps Approval is pending of a formal application for a mining license for the Toral Project that was completed and submitted by October 2023 to the Junta of Castille and Leon, the local mining authority. Preparing an updated Mineral Resource estimate in advance of the preparati
Slide 26: Zancudo Project Highlights
Zancudo Project Highlights 100% Owned through Cauca Belt, Colombia Zancudo Metals Au Ag Medellin Located in a Historic Mining District Zancudo Project Municipality of Titiribí, Department of Antioquia, ~30 km SW of Medellin. Mining of high-grade gold-silver-quartz veins was carried out in the Zancud
Slide 27: Zancudo Project - A Rich History
Zancudo Project - A Rich History 1746 Gold first discovered in the Zancudo district. Mining has been carried out since 1793 in 58 mines. The Sociedad del Zancudo mining company was created. Regarded as 1848 one of Colombia’s most important companies of the 19th century, it operated until 1948. First
Slide 28: Zancudo Project - Location
Zancudo Project - Location The Zancudo Project comprises: • three adjoining mining concession contracts (HDWA-02, H5911005 and C5521011) and one exploration license (HEOM- 12); • a total area of 1,054 hectares; and • is located about 30 km SW, about a 1.5 hour drive by paved road, from Medellin. For
Slide 29: Zancudo Project – La Independencia Mine, A Former Producer
Zancudo Project – La Independencia Mine, A Former Producer AuEq – October 2023 MRE (1) (1) Refer to Page 30 for details Cboe CA: DMET | OTCQX: DNRSF 29
Slide 30: Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces
Zancudo Project - Mineral Resource Estimate of 1,060,000 AuEq Ounces The following table(1) summarizes the Inferred Mineral Resource estimate (“MRE”) for the Zancudo Project effective as at October 24, 2023: Grade Material Content Tonnes Category Au Ag AuEq Au Ag AuEq (kt) (g/t) (g/t) (g/t) (koz) (k
Slide 31: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) “ Key Economic Parameters of the PEA effective as at October 24, 2023: Assumption / Results 2023 PEA Total tonnes processed over the LOM Total waste mined over the LOM Gold grade mined – LOM average (g/t) Silver grade mined – LOM average (g/t) 3,
Slide 32: Zancudo Project - Preliminary Economic Assessment
Zancudo Project - Preliminary Economic Assessment (1) Capital Costs (Table 2) Operating Costs (Table 3) Costs Life-of-Mine Per Oz Au Initial Capital Costs Operating Costs (US$) (US$M) (US$) Mine access rehabilitation (initial work excluded from mine contractor Mining 435.1 756 29,000 responsibility)
Slide 33: Zancudo Project… Path to Near-Term Production
Zancudo Project… Path to Near-Term Production • Local contract miner engaged • Permitting nearing completion to start mining/crushing • By-pass road construction near completion • Surplus/old equipment removed from plant site • Crushing equipment installation completed at the plant site • Mine plan
Slide 34: Zancudo Project - Advancing Toward Production in 2024
Zancudo Project - Advancing Toward Production in 2024 Mine Plant Infrastructure The local mine contractor was engaged in New crushing equipment has been installed. Constructing an ~3.7 km access road connecting 2023 and has been preparing the existing Concentrate plant is arriving to site and expect
Slide 35: Photos of 1,000 tpd processing flotation plant
Photos of our 1,000 tpd processing flotation plant ready to ship. It was ordered in October 2023 and will produce high-grade gold-silver concentrates that will be delivered to a port in Colombia and sold to Trafigura under a long-term offtake contract. The plant is being manufactured by Jining Jidda
Slide 36: Zancudo Project - Significant Exploration Upside
Zancudo Project - Significant Exploration Upside Mineralization occurs in stacked mantos and steeply dipping veins that have been exploited over a strike length of 3,500 m. The average vein width is 0.35 m with a maximum width of 3.0 m. The known vertical extent of mineralization is 400 m. “Potentia
Slide 37: Sustainability
Sustainability Mining for the Future Denarius Metals’ board and management team have a long history of positively impacting areas of operations through tailored sustainability initiatives. Quality education in our areas of influence relates to both children and youth, as well as higher-level educati
Slide 38: Why Invest
Why Invest In-Demand Critical Metals Favourable Proximity High Grades Rich History Proven Team We are focused on in demand metals We are in the right jurisdictions We have quality high-grade projects There’s rich history where our We have the right team that projects are located knows how to unlock
Slide 39: Have Questions?
Have Questions? GET IN TOUCH WITH DENARIUS METALS Investor Relations +1 (416) 360-4653 investors@denariusmetals.com www.denariusmetals.com
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