UK GOLD ASSETS Clogau- St David’s Gold Mine Dolgellau Gold Exploration Project l (August 2020)
DISCLAIMER This presentation is made on behalf of Alba Mineral Resources PLC (“the Company”) . It does not constitute an admission document relating to the Company nor does it constitute an offer or invitation to purchase or subscribe for any securities in the Company. No reliance may be placed whatsoever on the information or opinions contained in this presentation and the completeness, accuracy or fairness thereof. No representation or warranty, express or implied, is given by or on behalf of the Company, its directors, officers, employees or contractors as to the accuracy or completeness of the information or opinions contained in this presentation, and no liability is accepted for any such information or opinions to the maximum permitted by law. This presentation is not a recommendation regarding any decision to sell or buy securities in the Company. Persons wishing to obtain advice as to the investment merits of the Company’s securities should seek independent advice from an authorised financial services provider. This presentation is not for distribution in, nor does it constitute an offer of securities for sale in, any jurisdiction where such distribution or offer is unlawful. All statements (other than statements of historical fact) in this presentation, including without limitation, the strategies, plans, expectations and objectives of the Company as well as all resource and reserve estimates, targets and production forecasts, are forward-looking statements and have not been verified by the Company. Many factors could cause actual results/expectations to differ materially from anticipated results/expectations. These forward-looking statements are illustrative only and are not a representation that they will be achieved as they involve risks and uncertainties, events and circumstances which may or may not occur in the future. There is no guarantee of future performance. The information in this presentation that relates to Exploration Results has been reviewed by Mr Mark Austin. Mr Austin is a member of SACNASP (Reg. No. 400235/06), Fellow of The Geological Society and Fellow of the Geological Society of South Africa. He has a B.Sc. Honours in Geology with 38 years’ experience. Mark Austin has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration targets, Exploration Results, Mineral Resources and Ore Reserves’, also known as the JORC Code. The JORC code is a national reporting organisation that is aligned with CRIRSCO. Mr Austin consents to the inclusion in this presentation of the matters based on his information in the form and context in which they appear. 1
ALBA’S BOARD AND MANAGEMENT George Executive Chairman 25 years’ experience in natural resources, Frangeskides corporate advisory & legal sectors in the UK, Europe,Africa and Australia Mike Nott Non-Executive Director Geologist and mining engineer with over 40 years’ experience Manuel Lamboley Non-Executive Director Over 30 years' experience in international broking/investment banking Mark Austin Senior Geologist 37 years’ experience in the exploration and (Mining) mining industry; gold specialist. Feroz Sultan T echnical Director Petroleum geologist, 40 years’ experience; (Oil & Gas) managed onshore/offshore fields Sarah Potter Head of Finance Over 10 years’ of industry experience (Jaguar-LR, Anglo American) 2
ALBA SNAPSHOT Diversification Mining Assets and Oil & Gas Investments ▪ Stability Operating only in Low-Risk, Resources-Friendly ▪ Jurisdictions ▪ Clogau-St David’s : High-Grade Gold Production ▪ Thule Black Sands: High-Grade Ilmenite Amitsoq: High-Grade Graphite Potential ▪ Inglefield Polymetallic: High-Value Metals ▪ Limerick Base Metals :World-Class Ore Field Horse Hill : Oil Production ▪ Melville Bay: JORC Resource ▪ Market AIM Share Price 0.07p* Symbol ALBA Market Cap £3 mil * At 05/08/2020 3
ALBA’S OPERATIONS 4
CLOGAU SNAPSHOT ❑ UK’s largest historic gold producer (80,000 oz) ❑ Never previously subject to modern exploration methods ❑ No historic exploration drilling and no joined-up regional exploration ❑ Contrast rapid progress under Alba ownership: ❑ Mine extensively rehabilitated ❑ Multiple in-mine targets identified ❑ 9km of regional gold targets (right, yellow) ❑ Clogau in fact comprises two interlinked projects: ❑ Clogau Gold Mine - work to restart commercial production from the historic mine site ❑ Dolgellau Gold Exploration Project – work to prove up a major new regional gold discovery remote from the historic mine site 5
PROJECT LOCATION • Situated in centre of Dolgellau Gold Belt • Nearest main town: Dolgellau • Close to major roads and cities: Birmingham (2 hrs), Manchester (2.5 hrs), Cardiff (3 hrs), London (4 hrs) • 10 km to Barmouth and Cardigan Bay • Holyhead Port 1.5hrs (with 3 hr crossing to Dublin) • Project area outlined in blue (right) 6
EXTENSIVE UNDERGROUND DEVELOPMENT ▪ Underground workings (below) would cost millions to replicate today ▪ Existing workings provide ready access to all target zones Clogau- St David’s main reef vertical longitudinal projection from No. 1 shaft to No. 2/No. 5 shaft, across the Bryntirion fault and into the St David’s workings. 7
U/G WORKINGS AND GEOLOGICAL MODEL Clogau Mine has exploited an E-W trending and steeply dipping shear zone containing abundant visible gold. Primary mineralisation found at contact with base of Clogau Shales. The Bryntirion Fault bisects the Clogau and St David’s Mine areas Alba’s main exploration focus is between main workings (see left, “Clogau Mine”) and Llechfraith 8
DRILLING LLECHFRAITH TARGET ❑ 2019 drilling targeted extensions to Llechfraith mine (below left, ore shoots shown in dark yellow within inset cross-section) ❑ Drilling successfully intersected shear zone-hosted quartz veining, known geological setting for all historic mining at Clogau 9
EXTENSIVE MINE REHABILITATION Extensive rehabilitation works completed in the Mine 60m ladderway installed New roof section showing (Service Raise) clamp sets (Lower Adit) 10
2020 WORK PLANS DRILLING LOCATIONS 2020 WORK PLANS: Plan to drill up to 1,400m from ▪ existing underground U/G DRILLING FOR development at various locations along TynY Cornel ORE SHOOT and Llechfraith levels (above, white arrows) EXTENSIONS 11
2020 WORK PLANS: BULK SAMPLING Clogau gold mineralisation nuggety and irregularly disseminated ▪ Bulk sampling therefore required ▪ ▪ Up to nine sites (grey ovals) to be mined for a total of ~27 tonnes 12
SURFACE DRILLING ▪ Surface drill plan designed for up to 5000m (see right) ▪ Targeting orebody extensions within existing workings 13
SIMPLE GOLD PROCESSING FLOW-SHEET ▪ 3 ton/hr pilot plant to be established on/near site ▪ Clogau gold is coarse, therefore highly amenable to gravity concentration ▪ Simple processing: crush then pass through gravity concentrator and shaking table Simplified Flow-Sheet Primary Ore crusher ▪ Once pilot plant Sluice production established: Concentrator Secondary ➢ Scale up plant for crusher increased Tailings production ➢ Seek approvals to convert exploration Concentrate rights into long- Shaking Table term production lease 14
ROUTE TO COMMERCIALISATION ❑ Clogau gold fetches significant premium over spot price ❑ Cachet: wedding rings for Royal Family traditionally made from Clogau gold ❑ Scarcity value - no current sources of production ❑ Alba will be sole producer of Welsh gold and able to control supply and pricing ❑ Marketing routes ❑ JV/offtake with luxury international jewellery brand ❑ Production of gold coins & bars for investment Image: high-grade ore from Clogau- St David’s 15
GOLD PRICE: AT AN ALL-TIME HIGH 16
DOLGELLAU GOLD EXPLORATION PROJECT: HUGE REGIONAL GOLD POTENTIAL An unprecedented 12-month regional soil sampling campaign, with gold mineralisation now confirmed across ~9 km (results shown below, with highest grades in magenta) Av. grades for 10 new anomalies (inset map, yellow areas) exceed those for known mines – strike length of largest new anomaly is 2km (4x larger than Clogau mine) 17
DOLGELLAU GOLD EXPLORATION PROJECT: SURFACE TRENCHING PROGRAMME ▪ Initial trenching campaign of 8 trenches for ~600 m will be conducted in 2020 over one section of Dolgellau Gold Belt. ▪ Trenching involves removing soil cover to expose underlying bedrock for mapping and sampling. ▪ Further areas will be selected for trenching in future programmes. 18
INDICATIVE TIMETABLE TO PRODUCTION 0-12 months ❑ Drilling underground and from surface, targeting extensions to the mine workings ❑ Channel and bulk sampling ❑ Establishment of Pilot Plant and processing of bulk samples ❑ Trenching high priority gold targets over Dolgellau Gold Belt 12-36 months ❑ Commissioning of Preliminary Economic Assessment (PEA) or Pre-Feasibility Study (PFS) ❑ Submission of full planning application to re-open the mine ❑ Execute offtake agreements for sale of Clogau gold ❑ Upgrade/construction of long-term processing facilities ❑ Commencement of commercial production 19
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