AGC:TSX-V AGCBF:OTCMKTS Exciting Gold Development and Exploration Assets in Brazil Corporate Presentation
Important Notice Important Statements These presentation materials (“the Presentation Materials”) are being supplied to you for information purposes only on Amarillo Gold Corporation (the “Company”). These Presentation Materials have been prepared by and are the sole responsibility of the Company. The Company has taken all reasonable care to ensure that the facts stated herein are true to the best of its knowledge, information and belief. These Presentation Materials are being distributed only to and are directed at (a) persons who have professional experience in matters relating to investments being investment professionals as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (the “FPO”), (b) high net worth companies, unincorporated associations and other bodies within the meaning of Article 49 of the FPO or (c) persons to whom it may otherwise lawfully be communicated (together “Relevant Persons”). Any person who is not a Relevant Person or who does not have professional experience in the matters relating to investments should not act or rely on this document or any of its contents. These Presentation Materials do not constitute, or form part of, a prospectus relating to the Company, nor do they constitute or contain any invitation or offer to any person to underwrite, subscribe for, otherwise acquire, or dispose of any shares in the Company or advise persons to do so in any jurisdiction, nor shall it, or any part of it, form the basis of or be relied on in any connection with any contract. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this document or on its completeness and no liability whatsoever is accepted for any loss howsoever arising from any use of this document or its contents otherwise in connection therewith. Prospective investors are encouraged to obtain separate and independent verification of information and opinions contained in the Presentation Materials as part of their own due diligence. By accepting these Presentation Materials, the Recipient agrees that the information contained herein or sent herewith or made available is for information purposes only. Without prejudice to the foregoing, neither the Company, nor its advisers nor its representatives accept liability whatsoever for any loss howsoever arising, directly or indirectly, from use of this document or its contents or otherwise arising in connection therewith. The distribution of these Presentation Materials in certain jurisdictions may be restricted by law and persons into whose possession these Presentation Materials come should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdictions. Some statements contained in these Presentation Materials or in documents referred to therein are or may be forward-looking statements. Actual results may differ from those expressed in such statements, depending on a variety of factors. Past performance of the Company or its shares cannot be relied on as a guide to future performance. Any forward-looking information contained in these Presentation Materials has been prepared on the basis of a number of assumptions which may prove to be incorrect, and accordingly, actual results may vary. The Qualified Persons for Amarillo are Frank Baker, M. IOM3 and MAusIMM., Mr.Mike Mutchler, MAusiMM and Buddy Doyle, MAusIMM. www.amarillogold.com 2
Management Team Rolly Uloth Mr. Uloth has over 20 years as a seasoned mining executive, as well as a business professional with over 45 years of Executive Chairman experience. Rolly was President and Director of River Gold Mines in 2006. Upon the completion of the merger between Wesdome Gold Mines and Eagle River Mines, Mr. Uloth became Chairman and then CEO from 2007 - 2010, where he led Wesdome through several of its most profitable years and reopened the Kiena Mine. In 2013, Mr. Uloth rejoined Wesdome and successfully restructured the Company and still remains on the Board. Mike Mutchler Mr. Mutchler, who is currently a Partner and Advisory Board Member at Whittle Consulting Pty. Ltd., has over 30 years’ President and Chief experience as a mining engineer in both open-pit and underground mining operations. At Whittle, Mike conducts Executive Officer Enterprise Optimisation using its proprietary software for mining projects worldwide. Prior to Whittle, Mike was COO for Largo Resources where he was responsible for the construction, commissioning, operations and expansion of the Maracas Vanadium Mine and Mill in Bahia, Brazil. Mike’s extensive experience also included the position of COO of Rainy River Resources, Vice President Project Development for Kinross Gold Corporation, Mine & Infrastructure Manager for Kinross’s Cerro Casale project in Chile, Project Director for Kinross’s Paracatu Mine in Brazil, and he held managerial positions at Kinross and ASARCO. Mike holds a BSc (Mining Engineering), South Dakota School of Mines & Technology; MBA, Webster University, Missouri; Executive Juris Doctorate degree, Concord School of Law, Kaplan University; and Chartered Directors Certificate, The Directors College, McMaster University. Hemdat Sawh Mr. Sawh is a CPA, and holds an MBA, a BSc degree in Geology and a graduate diploma in Geology. Mr. Sawh has over Chief Financial Officer 16 years of experience at Grant Thornton LLP, where he acted as lead supervisor for auditing teams. Mr. Sawh has over 12 years’ experience serving as CFO of Wesdome Gold Mines, Scorpio Mining, Crystallex and Goldbelt Resources, all TSX listed mining companies with assets in Canada, Mexico, Venezuela and Burkina Faso, respectively. Arao Portugal Mr Portugal was instrumental in securing the main Preliminary License (SEIA equivalent) for Mara Rosa in 2016. In 2003 Director of Strategy to 2014, Mr. Portugal held various roles including Country Manager for Yamana. From 1975 to 2003, sourcing and raw materials specialist for CVRD (now Vale). Luis Carlos F. da Silva Mr. da Silva has over 20 years exploration experience in Brazil managing several campaigns. He was also responsible General Manager Brazil for drilling off several of Jaguar Mining’s Brazilian gold deposits. Frank Baker Mr. Baker is a Graduate of Sheffield University with Masters in Metallurgy. Frank has over 40 years of experience in the Project Manager, mining industry. Mr Baker has had the success of designing, building and commissioning five gold plants, including two Mara Rosa in Brazil. 33 2 www.amarillogold.com 3
Corporate Information Capital Structure Major Shareholders Shares Outstanding 84.9 million 15% Board & Management Warrants ($0.25) 1.1 million 42% Institutions Options ($0.31) 7.5 million High Net Worth 23% Market Cap. @ $0.31 * $26 million Retail 20% Gold-linked Loan $10 million * As at Jan 5,2018 www.amarillogold.com 4
Project Locations DEVELOPMENT AND EXPLORATION PROJECTS Mara Rosa Development Project, Brasilia Goias State ● Federal highway, 320km from the capital ● 35km from Chapada mine (Yamana) ● 62km from Pilar mine (Brio) ● 500km from Paracatu mine (Kinross) Lavras do Sul Exploration Project, Rio Grande do Sul State ● Paved highway, 320km from Porto Alegre ● Hydroelectric and thermal grid power Porto ● Town was founded on mining Alegre www.amarillogold.com 5
Mara Rosa Project Goias State Robust Gold Development Project with Significant Upside Exploration Potential www.amarillogold.com 6
Posse Cross Section (Looking North) Typical Intercepts Within PFS Pit www.amarillogold.com 7
Resource and Reserves Category Tonnes MT Grade g/t Ounces of Au Measured 10.00 1.70 580,000 Indicated 15.00 1.40 680,000 25.00 1.56 1,250,000 Resource M&I 8.50 1.10 310,000 Inferred Notes: 1. Posse Deposit Resource @ 0.35 g/t cut-off 2. Source: Keith Whitehouse Member of the AUSMIM Qualified person Australian Exploration Field Services; 43-101 Technical Report: prepared by SRK Consulting, April 2017 titled “2017 Updated Pre-Feasibility Study Posse Mine Project-Mara Rosa GO” Category Tonnes MT Grade g/t Ounces of Au Proven 9.27 1.81 540,567 Probable 9.75 1.46 456,968 19.01 1.63 997,536 P&P Total Notes: 1. SRK applied a 0.38 g/t Au cut-off to the block model 2. Dilution: 3% mining & 3% handling 3. All Mineral Reserves prepared by SRK have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required under National Instrument 43-101 (“NI43-101”) www.amarillogold.com 8
Mara Rosa Robust Economics Mara Rosa Project Robust Economics Gold Price $1,300 *NPV(5%) * IRR *Payback US$ 178M 35% 2.2 Years $1,200 April 2017 PFS (US$1,200 Gold) $1,000 Upfront Capex $148M USD Gold Margin Sustaining Capex $13.5M USD $570/oz $800 Years 1-4 Average Production 140,000 Ounces $600 Average Annual Production 112,000 Ounces G&A + Royalties $6.35/tonne $400 Initial Mine Life 8 Years Processing Operating Cost per Ounce $545 USD *AISC US$10.27/tonne $200 $630/oz AISC per Ounce $630 USD $0 Mining Mineable Reserve 997,536 Ounces US$12.93/tonne * Post-tax * AISC = Opex + Royalties + Transportation + Refining + Sustaining Capital + G&A www.amarillogold.com 9
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