THE PILBARA AUSTRALIA’S NEXT SIGNIFICANT GOLD REGION CORPORATE PRESENTATION- FEBRUARY 2018 AS ASX:CAI AI
DIS ISCLAIM IMER 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 confirms 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. 2
SN SNAPSH SHOT UNL NLOCKING NG THE HE P POT OTENT NTIAL O OF T THE HE P PILBARA • Well funded post $10m capital raise • Strong and experienced management team • Focused on the high grade Warrawoona Gold Project following it’s consolidation for the first time • Minimum target is to define a Resource/Reserve capable of supporting a minimum 100Koz per annum operation for a minimum of 5 years • Current Resource of 712,000oz at 2.11g/t from surface, in one continuous zone, open in all directions • Significant exploration upside targeting aggressive resource growth • 50,000m drilling program in 2018 3
CORPORATE O E OVER ERVIEW EW ASX:CAI AS AI CAPITAL STRUCTURE BOARD OF DIRECTORS & MANAGEMENT 1,282 SHARES ON ISSUE 30 years’ experience in stockbroking and KEITH COUGHLAN Million funds management on ASX, AIM and TSX. NON-EXECUTIVE CHAIRMAN $51.3 Talga, European Metals, Southern Hemisphere MARKET CAP (Corporate) Mining. (undiluted at A$0.04) Million DAVID REEVES $9.3 CASH 25 years’ mining experience in Australia, Africa and Europe. GCM, Delta Gold, MANAGING DIRECTOR (Dec 30 2017) Million Zimplats, European Metals Holdings. (Mining Engineer) DEBT $0 Over 15 years’ experience in exploration and ADAM MIETHKE mine geology, funds management and $42.0 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 internationally, Medusa Mining, Focus PERFORMANCE 275 Million 2 (Mining Engineer) Minerals. SHARES 30 years international experience with JANE ALLEN CAI Shareholder Breakdown Anglogold Ashanti, Resolute Mining GEOLOGY MANAGER 3% Board & Mgmt Direct Limited, Avion Gold Corporation and GCM 6% CPA and Chartered Company Secretary Board and Mgmt via Keras JAMES CARTER with 20 years’ experience. Straits 36% COMPANY SECRETARY AND CFO Keras Plc* Resources, Keras PLC. 31% Institutions * * Keras PLC shares escrowed for 24 months, CAI Other board and management own 18 % of Keras 25% 1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c 4 2. On completion of a positive PFS
CALID IDUS T TIM IMELIN INE WHAT W WE E HAVE A E ACHIEV EVED ED A AND O OUTLOOK F FOR 2018 ASX LISTING CONSOLIDATION RESOURCE 2018 RESOURCE NOVO & EPMINEX UPGRADE RESOURCE UPGRADE Listing of Calidus Resources (ASX:CAI) 712,000 oz Resource DRILLING Q4 Further consolidation of onto the ASX @ 2.11g/t Au declared Planned Resource tenements at Warrawoona Q2 2018 Onwards 22/06/2017 Dec 2017 Upgrade to underpin PFS including strategic Novo RC and diamond Joint Venture drilling program, commence Q2 2018 MAIDEN REGIONAL KLONKYKE PFS DRILL PROGRAM PROGRAM EXPLORATION DEEPS To commence post 12,600m drill program Maiden drill resource upgrade Q1/2 2018 Onwards and met test work Q1 2018 program that has Greenfields program commenced – June EIS Co-funded drilling to delivered including ground 2017 target 400m below outstanding reconnaissance and surface high grade shoot results to date drilling of priority targets extensions at Klondyke COMPLETED PLANNED 5
WARRAWOON OONA G GOL OLD PROJ OJECT LOCATED ED I IN AREA EA W WITH P PROVEN EN RESOURCE E POTEN ENTIAL WINGINA WE WI WELL 6
WARRAWOON OONA G GOL OLD PROJ OJECT TARGET ETING A L LARGE E AND R RAPID INCREA EASE E IN RES ESOURCE E WITH M MULTIPLE TARGET ETS I IDENTIFIED ED PROJECT HIGHLIGHTS 363km 2 under control, application • or option • +200 historic mines located on tenements • Never mined in modern era due to fragmented ownership • Very limited previous exploration focussed around the Klondyke workings • Majority of package not covered by any soil sampling or drilling, large blue sky upside • Style of deposit lends itself to significant depth extensions 7
KLONDYKE D E DEP EPOSIT LARGE R E RES ESOURCE P E POTENTIAL OLD WORKINGS – KLONDYKE SHEAR • Current Resource: • 9.9Mt at 2.06g/t Au for 654,000oz (0.5g/t cut-off) • Outcrops along entire strike length • Confined to just 2.6km of 12.5km strike of Klondyke shear • Resource falls within one continuous zone and remains open in all directions • Large high grade intercepts in drilling, potential for significant depth extensions • Metallurgical test work to 150m depth shows free milling ore with recoveries of 93% to 96% • Initial environmental, tailings and more detailed metallurgical studies underway to minimise PFS timing 8
KLONDYKE D E DEP EPOSIT CURREN ENT R RES ESOURCE E ON K KLONDYKE E SHEA EAR 9
KLONDYKE KL KE – EXPL PLORATION U UPS PSIDE HIS ISTORIC ICAL D DRIL ILLIN ING IS IS LIM IMIT ITED, CONSTRAIN INED AND SHALLOW • Potential mineralisation extends 7.5km along strike with large number of workings • Limited geophysics and no or very limited exploration and testing of parallel structures • Tangible upside via extensional drilling • Deep holes targeting high grade shoots to 450m planned for 2018 * All grades shown are life of mine average grades – source MINDEX 10
KLONDYKE D E DEP EPOSIT HIGH G GRA RADE O OUTCRO ROPPING RE RESOURC RCE SUBSTANTIVE BASE RESOURCE • Large Indicated Resource to 150m depth, open in all directions • Deep co-funded EIS drilling planned for Q1 2018 on first high grade shoot target 11
KLONDYKE KL KE S SECTIONS 12
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