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 c onfirms 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.
• Gold belt consolidated for the first time • Existing Resource of 410,000oz at 2.2g/t from surface HIGH QUALITY ASSET • Significant exploration upside defined with immediate drill targets, with enhanced target base following Novo JV • Well funded with ~$11m cash following recent capital raising AGGRESSIVE • Strategy to rapidly expand resource via brownfields EXPLORATION PROGRAM extensions to current mineralisation and regional targets • Resource Upgrade due late 2017 • Experienced in all aspects of project development from exploration through development and into production PROVEN MANAGEMENT • Raised significant capital for gold exploration and development
CAPITAL STRUCTURE BOARD OF DIRECTORS & MANAGEMENT 994.2 SHARES ON ISSUE 30 years’ experience in stockbroking and KEITH COUGHLAN Million funds management on ASX, AIM and TSX. NON-EXECUTIVE CHAIRMAN $43.7 Talga, European Metals, Southern Hemisphere MARKET CAP (Corporate) Mining. (undiluted at A$0.044) Million DAVID REEVES $11 CASH 25 years’ mining experience in Australia, Africa and Europe. GCM, Delta Gold, MANAGING DIRECTOR (end Sep Qtr) Million Zimplats, European Metals Holdings. (Mining Engineer) DEBT $0 Over 15 years’ experience in exploration and ADAM MIETHKE mine geology, funds management and $32.7 NON-EXECUTIVE DIRECTOR ENTERPRISE VALUE corporate advisory. Rio Tinto, Snowden, Million (Geologist) Regent Pacific Group, Argonaut. 192.5 OPTIONS 35 years’ international mining experience, PETER HEPBURN-BROWN Million 1 (will raise $4.7m if exercised) managing gold mines in Australia and NON-EXECUTIVE DIRECTOR A- 250 Million 2 internationally, Medusa Mining, Focus PERFORMANCE (Mining Engineer) Minerals. B- 275 Million 3 SHARES 30 years international experience with JANE ALLEN CAI Shareholder Breakdown 4 Anglogold Ashanti, Resolute Mining GEOLOGY MANAGER 3% Board & Mgmt Direct 4% Limited, Avion Gold Corporation and GCM CPA and Chartered Company Secretary Board and Mgmt via Keras JAMES CARTER with 20 years’ experience. Straits 18% COMPANY SECRETARY AND CFO 44% Keras Plc* Resources, Keras PLC. Institutions * Keras PLC shares escrowed for 24 months, CAI 31% Other board and management own 18 % of Keras 1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c 3. On completion of a positive PFS 2. On 500,000 ounces of Indicated Resource 4. Undiluted assuming approval of Tranche 2 placement
EPMINEX 2018 ASX LISTING EXPANDED CAPITAL RAISE CONSOLIDATION EXPLORATION $10 million PROGRAM Listing of Calidus oversubscribed Resources (ASX:CAI) Expanded drilling PROGRAM Further consolidation of institutional raise onto the ASX program to tenements at Warrawoona RC and diamond 22/06/2017 commence at drilling program, Klondyke East mapping, soils COMPLETED RESOURCE PFS DRILL PROGRAM NOVO JOINT Maiden drill UPDATE Potential VENTURE 12,600m drill program program that has commencement and met test work – Warrawoona resource Joint Venture of Novo delivered in H2 2018 June 2017 outstanding update in late 2017 tenements Sep 2017 results to date
HISTORICAL GOLD MINING DISTRICT • First mined in 1897 • +200 historic mines and fragmented tenement ownership • Last major drill campaign in 1991 PROJECT HIGHLIGHTS • 363km 2 under control, application or option • Novo JV signed that has expanded footprint considerably via the 70% earn in to the Novo Tenements that total 184Km 2 . • 15,000m resource and infill drill campaign completed with a resource update expected late this calendar year. 1. Reported in accordance with JORC (2012) Guidelines – Includes Klondyke and Copenhagen
• Current Resource: • 5.6Mt at 2.08g/t Au for 374,000oz (0.8g/t wireframe) • Confined to just 2km of 7.5km strike of Klondyke shear • Large, high grade intercepts in drilling • Metallurgical test work to 150m depth shows free milling ore with recoveries of 93% to 96% • Clear exploration strategy to test infill zones and extensions to current resource • Predictable geology, open along-strike and down-dip • Untested parallel veins and cross-cutting features • A total of 15,611m has now been drilled since listing in early 2017 with all drill holes intersecting ore grade mineralisation.
• 78% of historical drilled intercepts are shallower than 100m • Defined mineralisation extends 7.5km along strike with large number of workings • No geophysics and no or very limited exploration and testing of parallel structures • Tangible upside via infill and extensional drilling * All grades shown are life of mine average grades – source MINDEX
INITIAL DRILL PROGRAMME • 92 holes announced, best intercepts recorded 6m @ 63.31g/t Au and 27m@5.85g/t Au • All holes have hit ore grade mineralisation to-date including all holes in gap zone.
• Located 20km south east of Marble Bar • 2 hours drive from Port Hedland on sealed road – Australia’s largest port • All weather, council maintained road from Marble Bar to leases • Access to fresh water • Sealed airstrip in Marble Bar • Mining Registrar located in Marble Bar • Accommodation for 100 in single rooms • Mad Clappin Harry’s, the best coffee in the NW!
• Further upside via additional largely unexplored multiple shears immediately parallel to (St George Shear) and west of main shear • Novo JV now puts Calidus in control of the entire Warrawoona Greenstone Belt
FIELDINGS GULLY • Recent drilling shows mineralisation open in all directions, results incl. 16m @ 3.52g/t from 71m 8m @ 3.97 g/t from 22m 21m @ 1.85g/t from 55m COPENHAGEN • JORC 2012 Inferred Mineral Resource of 180,000t @ 6.1g/t to maximum of 100m depth and along 140m of strike CORONATION • Lies 3km along strike of Copenhagen and is drilled over 190m strike length 9m @ 5.21 g/t from 9m 8m @ 7.64 g/t from 64m 3m @ 16.67 g/t from 16m 12m @ 7.98 g/t from surface 2m @ 31.5 g/t from 30m
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