1. 1.25 5 Mo Moz HIG HIGH-GRADE GRADE, SHALLO HALLOW WA A GO GOLD LD PRO ROJECT PROGRESSING TO DEVELOPMENT ASX:CAI PRESENTATION MAY 2019
DI DISCLAIMER ER DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Calidus Resources Limited (the Company or Calidus) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Calidus. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Calidus does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. COMPLIANCE STATEMENT The information in this presentation that relates to Exploration Results and Mineral Resources released previously on the ASX. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that, in the case of mineral resources estimates, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Mr Daniel Saunders is principal and a full time employee of GeoServ Consulting Pty Ltd, and is a Member of the AusIMM. Mr Daniel Saunders has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Ms Jane Allen is a full time employee of the Company, and is a member of the AusIMM. Ms Jane Allen has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activates undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. PAGE 2
RAPI APIDLY PR PROG OGRESSING TOW OWAR ARDS PR PROD ODUCTION ON SNAPSHOT • Simple and compelling story Consolidation of Historic Goldfield Fully funded Pre-feasibility Study (PFS) • • commenced , completion due Q3 2019 1.25 Moz resource at 1.83 g/t Au • including 1.1Moz at 2.37g/t • Planning to Develop in 2020 795,000oz of Indicated Resources Significant exploration upside , drilling • • (64%) underway 203% increase in resource since • listing June 2017 (412,000oz) 3 PAGE 3
DRI DRIVING DEV DEVEL ELOPMEN ENT PRO ROGRES RESS A A CENTU TURY OF EXPE PERIENCE IN PR PRECIOUS-ME METAL PROJECT DEVELOPME MENT EXECUTIVE MANAGEMENT FERNANDO DAVE REEVES PAUL BRENNAN JANE ALLEN MOUTINHO MANAGING DIRECTOR COO GEOLOGY MANAGER 30 years’ international 30 years’ mining 20 years’ mining PROJECT MANAGER 30 years’ international mining experience with experience in Australia, experience in Australia, experience with GRD Anglogold Ashanti, Africa and Europe. Africa and Europe. Most Minproc, Sheffield Resolute Mining, Avion Instrumental in the recently GM at Saracen’s Resources, Syrah Gold Corporation and progression of four mining Carasoue Dam operation Resources, New Century GCM projects through feasibility Resources to project development BOARD MARK CONNELLY ADAM MIETHKE KEITH COUGHLAN NON-EXECUTIVE CHAIRMAN NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR Over 30 years’ resource industry Over 15 years’ experience in exploration 30 years’ experience in stockbroking experience in CEO and Managing and mine geology, funds management and funds management on ASX, AIM Director roles across multiple and corporate advisory. Previous and TSX. Currently the MD of jurisdictions including Australia, West technical and corporate roles at Rio European Metals Holdings and Africa, North America and Europe. Tinto, Snowden, Regent Pacific Group recently retired as chairman of Talga Currently Non-Executive Chairman at and Argonaut Resources West African Resources Ltd PAGE 4
COR CORPOR PORAT ATE OV OVERVIEW CAPIT CA ITAL S STRUCT CTURE A AND ND S SHAREHOLDERS CAPITAL STRUCTURE WELL FUNDED 1,501 SHARES ON ISSUE • Cash reserves of $4.3m Million 1 $37.5 MARKET CAP • Investment in Pacton Gold (TSX: PAC) valued at $2.2m Million 2 (undiluted at A$0.025) • 2.5c exercisable options to raise $2.2m due June 2019 $4.3 CASH STRONG CORPORATE MINING SUPPORT Million 3 (as at 31 Dec 2018) $2.2 • Keras Resources – London listed exploration company 2 LISTED INVESTMENTS Million • Alkane Resources – ASX listed Australian domiciled gold $31.0 ENTERPRISE VALUE producer with c.$72m in cash reserves 7 Million • Novo Resources – Canadian listed, well funded Pilbara Gold 254 OPTIONS explorer with nearby gold properties and JORC resources Million 4 (will raise $6.9m if exercised) PERFORMANCE 275 TIGHTLY HELD SHARE REGISTER SHARES Million 5 • Over 15% Tier 1 institutional ownership • Top 20 hold 70% KEY SHAREHOLDERS KERAS RESOURCES 6 30.5% (AIM:KRS) ALKANE RESOURCES 15.2% 1. Including placement to Alkane announced 30/4/19 (ASX:ALK) 2. Using share price of $0.25 as at 30 April 2019 3. $2.3m cash 30/4/19 plus $2m from Alkane Raise NOVO RESOURCES 3.8% 4. 118m @ 2.5c, 50m @ 2.0c, 70m @ 3.5c and 16m @ 3.0c (TSX: NVO) 5. Performance Shares vest on completion of a positive PFS 6. CAI board and management own 18 % of Keras 7. ALK cash balance as at 31 March 2019 PAGE 5
WA WARRA RRAWO WOONA GOLD D PRO ROJEC JECT LOC LOCATED IN AREA WITH PROV OVEN RESOU OURCE POT OTENTIAL L PAGE 6
CON CONTROL OL OF OF PR PROV OVEN GREENSTON ONE BELT LT 0KM 2 2 OF 780K OF CON ONTIGUOU OUS TENURE 780km 2 under control, application or option +200 historic mines located • on tenements Very limited previous • exploration focused around the Klondyke workings Majority of package not • covered by any soil sampling or drilling PAGE 7
KLON KLONDYKE KE DEPOS POSIT HI HIGH H GRADE MI MINERALISATION REMA MAINS OP OPEN AT T DE DEPTH TH PAGE 8 CORPORATE PRESENTATION MARCH 2019
KLON KLONDYKE KE DEPOS POSIT 76 76% I INC NCREA EASE I E IN G N GLO LOBAL R L RES ESOURCE B E BASE T E TO 1 1.15 Mo Moz Cut-off Indicated Inferred Total Klondyke (0.5g/t cut-off summary) Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Klondyke Open Pit 0.5 12.3 1.69 670,000 5.5 1.47 260,000 17.8 1.62 930,000 Klondyke Underground 2.0 0.8 3.3 80,000 1.4 3.03 140,000 2.2 3.13 220,000 Total 13.1 1.78 750,000 6.9 1.79 400,000 20.0 1.79 1,150,000 Cut-off Indicated Inferred Total Deposit (0.8g/t cut-off summary) Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Klondyke Open Pit 0.8 8.4 2.19 590,000 3.1 2.16 210,000 11.4 2.19 800,000 Klondyke Underground 2.0 0.8 3.3 80,000 1.4 3.03 140,000 2.2 3.13 220,000 Total 9.1 2.21 670,000 4.5 2.44 350,000 13.6 2.23 1,020,000 PAGE 9
UP UPDATE TED MINERAL RESO SOUR URCE CO CONT NTINU INUOUS O OUTCR CROPPING ING R RESOURCE CE O OPEN IN A N IN ALL D DIR IRECT CTIO IONS NS PAGE 10
REGIONAL UPSIDE REG DE – LAR LARGELY LY UNTESTED MULTIPLE H HIGH G GRADE S SATELLITE T TARGETS, W WITHIN 1 N 10K 0KM O OF K F KLOND NDYKE Cut-off Indicated Inferred Total Deposit Au g/t Mt g/t Au Ozs Mt g/t Au Ozs Mt g/t Au Ozs Copenhagen 0.5 0.2 5.27 36,000 0.1 1.84 3,000 0.3 4.65 39,000 Coronation 0.5 - - - 0.5 2.19 34,000 0.5 2.19 34,000 Fieldings Gully 0.5 0.2 1.65 9,000 0.3 1.62 16,000 0.5 1.63 24,000 Total 0.4 3.70 45,000 0.9 1.96 53,000 1.3 2.53 98,000 PAGE 11
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