The Power of Discovery August 2018 Los Azules Copper NSR Royalty Holding
www.tnrgoldcorp.com TSXV: TNR
www.tnrgoldcorp.com TSXV: TNR
LEADERSHIP Directors Management Kirill Klip, MBA, Executive Chairman Kirill Klip, MBA – President and CEO Maurice Brooks B.Sc., FCA (ICAEW) Maurice Brooks – Special Adviser Strategic Risk Management and Interim CFO Greg Johnson B.Sc. Anthony Kovacs – Chief Operating Officer Ross Thompson Nancy LaCouvée – Corporate Secretary Special Adviser to the Board - John Davies Roberto Lara – Managing Director (South America) …our corporate direction comes from a Dr. Frederick Breaks, P.Geo – Technical Adviser blend of proven creators of enterprise Natalia Lobanova – CEO EA, PR, Marketing value and technical expertise… www.tnrgoldcorp.com TSXV: TNR
CORPORATE CULTURE Project Portfolio Experienced Management Team Strategic energy metals focus: lithium and copper Management Gold and precious metal assets Strong ownership by insiders and management Proven Business Model Identify and acquire projects at an early stage Selectively advance projects Use JV partnerships to mitigate costs and risk “ a growing energy metals royalty company Maximize value, minimize success time with strong management ownership www.tnrgoldcorp.com TSXV: TNR
GLOBAL ASSETS Shotgun CURRENT HOLDINGS London Vancouver Los Azules, Argentina • World Class Cu-Au deposit • 0.36% NSR Royalty • 100% owned by McEwen Mining Shotgun Gold, Alaska • Porphyry gold deposit • Multi-million oz potential Avalonia Mavis / Fairservice Los Azules • Well defined mineralization model Raleigh Forgan San Juan International Lithium Corp. (“ILC”) • TNR spin out in 2011 • TNR holds a Strategic Stake in ILC • TNR holds 1.8% NSR Royalty in ILC’s Project Mariana Lithium Project Office • Strategic partners advancing four ILC Lithium Projects Mariana lithium projects TSXV: TNR www.tnrgoldcorp.com
Financial Times ASSETS ► Argentina “People are more confident in the future, the economy, in making investments. They are tired of corruption and populism,” Cecilia de Francesca. REUTERS www.tnrgoldcorp.com TSXV: TNR
ASSETS ► Los Azules 100% owned by McEwen Mining Inc. Argentina is one of the largest economies TNR holds a 0.36% NSR in Latin America. royalty Argentina is currently undergoing an economic transformation and integration into the global economy. McEwen Mining Presidential elections at the end of 2015 led to a significant change in Argentine economic policy. US $3.3 B Allocated by the World Bank for the The results of the mid-term elections in execution of the Country Partnership October 2017 prove that the new administration is gaining more support Strategy with Argentina for its economic policies in Argentina. World Bank www.tnrgoldcorp.com TSXV: TNR
► Los Azules Resource “ Los Azules ranks as one of the top 2 or 3 world class deposits that are “for sale” and in a low risk jurisdiction Estimate of Mineral Resources by Type (0.20% Cu cut-off) (1) Note: Mineral resources do not have demonstrated economic viability. TNR holds a 0.36% NSR royalty (1) Technical report titled “NI 43 -101 Technical Report – Preliminary Economic Assessment Update for the Los Azules McEwen Mining Project, Argentina ,” with an effective date of September 1, 2017, prepared by D. Brown, CPEng, M. Bunyard, C. Eng, FAusIMM, B. Davis, FAusIMM, J. Duff, P. Geol, R. Duinker, P. Eng, MBA, J. Farrell, P. Eng, W. Rose, P. E., K. Seddon, CPEng, R. Sim, P. Geo, all of whom are qualified persons and all of whom but D. Brown and J. Duff are considered independent of McEwen Mining, as defined by NI 43-101. TNR Gold Corp. has not engaged an independent qualified person to verify the technical disclosures provided by McEewn Mining Inc. Mineral resources are not mineral reserves and there is no guarantee that the resources reported herein will result in an economic mining scenario. www.tnrgoldcorp.com TSXV: TNR
► Los Azules Resource Longitudinal Section Through the Los Azules Deposit (looking west – southwest) McEwen Mining “ Total contained copper is 4.6Mt (Indicated) and 8.8Mt (Inferred) 2 The copper resource contains 10.2 billion pounds Total contained gold is 1.7Moz (Indicated) and 3.8Moz (Inferred) Indicated and 19.3 billion pounds Inferred 2 Total contained silver is 56Moz (Indicated) and 136Moz (Inferred) (2) Please refer to technical disclosure statement (1) regarding the resource estimate. www.tnrgoldcorp.com TSXV: TNR
► Los Azules Preliminary Economic Assessment 2017 PEA Highlights (1,3) Base Case ($3.00/lb copper, $1,300/oz gold, $17/oz silver) • $2.2 billion After-Tax NPV (8% discount rate) and 20.1% After-Tax IRR • 3.6 year payback and a 36 years Life of Mine (LOM); • 415 million lb average annual copper production for the first 10 years. • $1.11/lb average cash copper production costs (C1*) for the first 10 years, $1.28/lb average C1 costs over LOM. (3) The PEA reported and documented by McEwen Mining is preliminary in nature, it includes inferred mineral resources that are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources, including those categorized as “measured and indicated” as well as “inferred” are not mineral reserves and the economic viability of these mineral resources have not been demonstrated by this economic analysis. McEwen Mining's press releases and website material appear to be prepared by Qualified Persons and the procedures, methodology and key assumptions disclosed by McEwen Mining are those adopted and consistently applied in the mining industry, but no Qualified Person engaged by TNR has done sufficient work to analyze, interpret, classify or verify McEwen Mining's information, nor to determine the McEwen Mining current mineral reserve or resource or any other information referred to in their press releases. Accordingly, the reader is cautioned in www.tnrgoldcorp.com placing any reliance on these disclosures. TSXV: TNR
► Los Azules PEA: Commodity Price Assumptions $3.00/lb copper Undiscounted Cash Flow Waterfall Diagram for the Life of Project (4) $1,300/oz gold $17/oz silver Undiscounted net smelter return, over the life of the mining project $35.2 billion McEwen Mining (4) Please refer to technical disclosure statements (1 and 3) regarding the PEA. TSXV: TNR www.tnrgoldcorp.com 12
► Los Azules Potential Value of TNR’s NSR Royalty TNR holds a 0.36% NSR royalty on the Discounted Cash Flow Waterfall Diagram for the Life of Project (4) entire Los Azules project PEA estimates undiscounted cash flow for the life of mine Net Smelter Return over $35B (4) PEA estimates discounted cash flow (8%) for the life of mine with the Net Smelter Return over $10.5B (4) McEwen Mining (4) Please refer to technical disclosure statements (1 and 3) regarding the PEA. TSXV: TNR www.tnrgoldcorp.com 13
► Los Azules Summary Argentina is open for business Los Azules deposit is massive 100% owned by McEwen Mining TNR has 0.36% NSR royalty PEA shows favorable results Project is moving forward Increased Value for TNR! TSXV: TNR www.tnrgoldcorp.com 14
CONTACT -We welcome your inquiries - Investor Relations hub https://tnrgoldcorp.com/investors/ IR@tnrgoldcorp.com Financing 1111 Melville Street, Suite 1100 Vancouver, BC, V6E 3V6, Canada Phone: +1 604-700-8912 Fax: +1 604-484-7143 www.tnrgoldcorp.com Joint Venture Partnerships TSXV: TNR
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