Exploring Ireland’s Rich Zinc and Gold Potential February 2018
Disclaimer This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities in Connemara Mining Company plc nor shall it or any part of it form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. No reliance may be placed for any purpose whatsoever on the information or opinions contained in this presentation or on any other document or oral statement or on the completeness, accuracy or fairness of any such information and/or opinions. No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of Connemara Mining Company plc or any of their respective directors, employees or advisers, as to the accuracy or completeness of the information or opinions contained in this presentation, and (save in the case of fraud) no responsibility or liability is accepted by any of them for any such information or opinions or for any errors, omissions, misstatements, negligence or otherwise contained or referred to in this presentation. The contents of this presentation have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. This presentation does not constitute an offer to the public as referred to in section 85 of the Financial Services and Markets Act 2000 (as amended) of the United Kingdom and accordingly has not been nor will it be approved by any competent authority in the United Kingdom. This presentation is not a prospectus within the meaning of the Prospectus (Directive 2003/71/EC) Regulations 2005 of Ireland and therefore has not been approved by the Irish Financial Services Regulatory Authorities being the competent authority for the purposes of Directive 2003/71/EC in Ireland. This presentation is not an offering document for the purposes of section 49 of the Investment Funds, Companies and Miscellaneous Provisions Act 2005 of Ireland. This Presentation has been prepared by the Directors of Connemara Mining Company plc and is being issued solely to and directed at persons who have professional experience in matters relating to investments falling within Article 19(1)(a) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended the "FPO") or (b) high net worth entities and other persons to whom the presentation may otherwise lawfully be communicated, falling within Article 49(1)(a) of the FPO (all such persons together being referred to as "Relevant Persons"). In consideration of the receipt of the presentation each recipient warrants and represents that he or it is a person falling within that description. Delivery of this information to any other person or reproduction, in whole or in part, without the prior consent of Connemara Mining Co plc is prohibited. This information is being supplied to you, in whole or in part, for information purposes only and not for any other purpose. In particular, the distribution of this document in jurisdictions other than United Kingdom or Ireland may be restricted by law and persons into whose domain this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of laws of any such other jurisdictions. 2
Connemara Snapshot Exposure to decade-high Zinc prices through JV projects and licence position Gold exploration success in an emerging gold territory Low market cap of £3.6 m 3
Key Points Active Explorer focussed on Ireland Vast local experience and proven success Gold and Zinc in highly prospective geological settings World class jurisdiction Balanced mix of 100% owned and JV projects 4
Experienced Board and Management Team John Teeling Chairman 40 years’ resources experience including the early days of zinc mining in Ireland, He founded Connemara and, amongst others, African Diamonds, Pan Andean Resources, Minco, and Kenmare Resources. Mr. Teeling holds degrees in Economics and Business from University College Dublin, an MBA from Wharton and a Doctorate in Business Administration from Harvard. Patrick Cullen CEO over 20 years’ in the resources sector including experience at majors (inc. Schlumberger, AngloGold, Placer Dome, Anglo American Platinum) and in exploration with African Energy Resources (ASX), Montero Mining and Exploration (TSX-V) and Kodal Norway (UK) Ltd. He has worked in a wide range of commodities and mineralization styles in both exploration and mining expansion projects, holds a BSc. University College Cork, an honours degree in Geology University of Portsmouth (1994) and MBA from the University of Southern Queensland, Australia (2008). Jim Finn Financial Director 20 years’ experience with exploration companies and extensive experience in their administration, responsible for listing several resource companies, including two of the first companies ever listed on AIM - Pan Andean Resources and African Gold. He holds a degree in Management and an Association of Chartered Certified Accountants (ACCA) qualification. Gavin Berkenheger Technical Director Chartered and European Geologist, extensive knowledge of Irish and UK mineral deposits. Has spent the last 11 years exploring for gold and base metal resources in Ireland and Scotland, aided in the development of the Curraghinalt gold deposit in Northern Ireland and is a Director of GreenOre Gold Plc. He holds honours degree in Geology and Petroleum Geology from the University of Aberdeen. 5
Experienced Board and Management Team Vivian Byrne Non-executive Director Technical Director of SLR Consulting Ireland, 40 years experience of Irish zinc and gold, former senior executive European exploration RTZ. Consultant to European and World Bank programmes in Africa, Caribbean and the Pacific. Danesh Varma Non-executive Director over 30 years’ experience in the mining finance industry, having worked for Brookfield Asset Managers, Northgate Exploration Ltd, Westfield Minerals Ltd and the Dundee Bank. Holds directorships with American Resource Corporation, Anglesey Mining Plc, Labrador Iron Mines Holdings Limited, Minco and Xtierra. 6
Corporate Information Exchange: AIM Ticker: CON Recent Share Price: 4.15p Market Cap: £3.6 m Shares in Issue: 87 417 618 %Share not in public hands: 16.39% Warrants: 20 010 000 @ 5p exp. May 2018 11 627 907 @ 3.4p exp. Aug 2019 7
Shareholders above 3% (updated 24 th January 2018) 8
6 month price chart 9
6 month Price with Gold & Zinc 10
Key projects Inishowen Oldcastle JV Mine River Stonepark JV 11
Why Ireland? Ranked 3 rd in Europe (9 th globally) in 2016 Mining Survey: Investment • Attractiveness, Fraser Institute of Canada • Mining Journal, World Risk Report 2017 - Ireland WRR Score 73/100 • Stable jurisdiction, favourable tax regime • Good infrastructure and skilled workforce • Existing mining industry and bulk shipping infrastructure 12
Why Zinc? • Tight supply fundamentals now and going forward • Supply constraints due to mine closures and strategic cuts • Global stockpiles dropped by 1/3 in 2017 • Critically low stock levels expected in Q2 2018 • Battery metal technology 13
Zinc in Ireland • 60 years’ history of major zinc mines • Recognised globally as a leading zinc province Ranked 1 st in the world for zinc discovered per km 2 • • High grade orebodies with clean metallurgy • The big players are mining and exploring here: Boliden, Teck, Glencore, Vedanta 14
Why Gold? • Gold discoveries lead to multiples in returns • Safe haven as investors seek protection against wider market volatility • Significant growth in demand from Asia • Worsening geopolitical stability may drive prices higher • Resurgence in resource nationalism in many parts of the world 15
Gold in Ireland • Emerging gold mining territory • In County Tyrone, Dalradian (market cap £220m) are developing a mine at Curraghinalt (1.44 Moz Reserves 5.24 Mt at 8.54 g/t gold) • Galantas ’ Omagh mine seeking to expand • Historic exploration by majors and other • Rich history of alluvial gold mining including 1795 gold rush in Mine River area 16
Zinc projects • Oldcastle JV zinc • Stonepark JV zinc 17
Stonepark zinc project • Connemara holds 23.44% of the joint venture company • Six contiguous prospecting licences in County Limerick where Connemara and Teck made a significant zinc discovery in 2007 • The average grade of the discoveries to date is in excess of 11% combined zinc/lead, 133 holes drilled by Teck between 2007 and 1012 (54,767 km) • Adjacent to the Glencore Pallas Green project (42 Mt @ 8% Zn-Pb) • Partner Group Eleven Resources have recently listed and earmarked C$ 1m expenditure 18
Stonepark zinc project 19
Oldcastle zinc project • Joint venture with Teck who are spending € 1.35m for 75%. • Seismic exploration and 4 holes drilled (2760m) with encouraging results • The geology is similar to Tara Mines 20 km away • The targets are at 400m to 800 m depth support for the model has been gained from the recent high grade deep discovery at Tara. • Tara Deep resource is located 2 km from the Tara Mine South West Extension, at depths ranging from 1.2 to 1.9 km 20
Oldcastle zinc project 21
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