TVI Resource Development (Phils.) Inc. Corporate Presentation December 2015
Introduction • Established in 1994 and headquartered in Makati, Manila. • Management has put three mines into production over the past 10 years producing: • Gold and silver (2004 – 2008) • Copper and zinc (2008 – 2014) • Nickel laterite (2014 – present) • Now engaged in diversified resource production, development and exploration in the Philippines. • Key stakeholders (pre-IPO): • Prime Resource Holdings Inc. - 68.32% • TVI Pacific Inc. - 30.66% TVIRD IS THE ONLY P HILIPPINE MINING COMPANY TO BRING 2 THREE DIVERSE RESOURCE PROJECTS ON - STREAM IN A 10- YEAR PERIOD
Highly Experienced Board and Executives Clifford M. James Manuel Paolo A. Villar Eugene T. Mateo Michael G. Regino Maryknoll B. Zamora Chairman Vice Chairman President and Director Director Treasurer/Comptroller and Director Geologist with +40 Chairman and President Lawyer and certified Economist with +30 years experience in the of Prime Asset Ventures public accountant with years experience in Certified public accountant Inc. – Part of the Villar resource sector. +35 years of experience. various industries. with +20 years of Group. experience in the fields of TVIRD founder and the Previously served as a Holds top management accounting, audit, tax, driving force behind its CEO and Director of member of the Philippine legal and financial positions with Villar commitment to socially Vista Land and Professional Regulation Group of companies. management. responsible mining. Lifescapes Inc. Commission TVIRD’ S BOARD AND EXECUTIVE TEAM CONSIST OF HIGHLY EXPERIENCED AND 3 INFLUENTIAL B USINESS , M INING AND F INANCE EXECUTIVES
Comprehensive Business Model TVIRD invests in resource projects that can be quickly advanced into production Resource Development to ensure a high level of success Resource Security Production TVIRD Health & Environment Safety Management Corporate Social Responsibility 4
Diversified Mining Projects – Current Agata Nickel Laterite Operations Balabag Gold-Silver Project Agata Limestone Project 5
Agata Nickel Laterite Operations MPSA No. 134-99-XIII • Location: Tubay, Agusan del Norte (Caraga Mining Region) • Ownership: 60% TVIRD and 40% MRL Nickel Philippines • Reserves: 15.6 million tonnes (Mt) grading 0.9-1.5% Nickel and 14-49% Iron • Utilization: Mining operations currently focused on 600 hectares of 4,995-hectare MPSA area • Logistics: Mining areas are within 3.5 kilometers of private port • Production: Approximately 1.4 Mt of ore shipped to date (shipments of 55,000t every 1-4 weeks) • PMRC-compliant Mineral Resource 1 : 43 M tonnes at 0.96% Ni and 19.9% Fe Limonite Reserve 2 : 9.6 M tonnes at 0.90% Ni and 48.2% Fe Resource and Reserve Saprolite Reserve 2 : 6.0 M tonnes at 1.49% Ni and 17.01% Fe 1. Indicated and Measured Resource 6 2. Proven and Probable Reserve
Agata Nickel Laterite Operations • Located in the CARAGA mining region on the western side of the Peninsula • Within close proximity to the Surigao mining region • Months operational (considering weather): • CARAGA 12 months/year • Surigao 7 months/year TVIRD BEARS THE OPPORTUNITY TO SHIP ALL YEAR ROUND 7 F ROM ITS A GATA N ICKEL P ROJECT
Balabag Gold-Silver Project MPSA No. 086-97-IX • Location: Bayog, Zamboanga del Sur • Ownership: 100% TVIRD of 4,779-hectare MPSA area • Gold and Silver – Processing very similar to Canatuan Gold/Silver Mine Commodity: • Deposit Type: Low sulphidation epithermal vein system • Resource 1 : 2.5 Mt averaging 1.8 grams/tonne (g/t) gold and 47.8 g/t silver for 213,000 gold- equivalent ounces • Reserve 2 : 1.35 Mt averaging 2.5 g/t gold and 68.2 g/t silver for 153,000 gold-equivalent ounces 1. CP: Leo Sosa, Geologist (June 2014) 2. CP: Marcelo Bolano, Mining Engineer (Aug 2015) TVIRD IS IN THE FINAL STAGES OF PERMITTING AT B ALABAG AND HAS OBTAINED 8 THE SOCIAL LICENSE TO OPERATE FROM THE INDIGENOUS S UBANENS
Balabag Gold-Silver Project Early exploration by Rio Tinto and Templar Gold Mapping, outcrop sampling and diamond drilling 2 Copper skarn Exploration by TVIRD (2005 – 2013) 3 Base metals Drilled 296 holes totalling 34,156 metres 1 Copper mineralization Balabag Hill Additional Exploration Potential Outside the Main Deposit : 1. Stream geochemical signatures suggest a porphyry copper style of mineralization, northwest of Balabag Hill 4 Gold targets 2. Copper skarn reportedly occurs in Upper Dipili-San Pedro River area 3. Base metal mineralization was recognized in the headwaters of Dipili River 4. Widespread and intense argillic alterations coincident with anomalous gold in soils 9
Agata Limestone Project MPSA No. 134-99-XIII • Location: Tubay, Agusan del Norte • Ownership: 60% TVIRD and 40% MRL Nickel Philippines • Commodity: Calcium Carbonate (CaCO 3 ) • Resources: 35.6 Mt grading 97.3% Calcium Carbonate • Logistics: Next to Agata nickel laterite operations T HE PRESENCE OF HIGH - PURITY LIMESTONE , IN HIGH DEMAND IN A SIA , REPRESENTS A 10 POTENTIAL FUTURE SOURCE OF CASH FLOW AT A GATA
Diversified Mining Projects – Future Agata Nickel Processing Project Canatuan Gold-Silver Project 11
Agata Nickel Processing Project 3D Model of Nickel Processing Plant • Location: Tubay, Agusan del Norte (Caraga Mining Region) • Ownership: 60% TVIRD and 40% MRL Nickel Philippines • Process: Two stage process: (1) Atmospheric Tank Leaching and (2) Low Pressure Acid Leach • Capacity: Designed for 7,000t of Mixed Hydroxide Product (~40% nickel content) per year • Status: Pilot plant tests completed at Beijing General Research Institute of Mining & Metallurgy in mid-2013 Definitive Feasibility Study completed – next step: DFS Optimization D ESIGNED TO PRODUCE A M IXED H YDROXIDE P RODUCT WHICH IS 12 IN HIGH DEMAND IN THE GLOBAL STAINLESS STEEL MARKET
Agata Nickel Processing Project 3D Model of Nickel Processing Plant • Innovative two-stage process would have the same operating efficiency as the most prevalent process (High Pressure Acid Leach) but at less than 10% of the required Capex. • Compared to HPAL TVIRD process is much more capital efficient. TVIRD HOLDS THE PATENT TO AN INNOVATIVE TWO - STAGE PROCESS WHICH REQUIRES CAPEX OF LESS THAN 10% OF OTHER CONVENTIONAL PROCESSES 13
Canatuan Project MPSA No. 054-96-IX • Location: Sitio Canatuan, Barangay Tabayo, Siocon Municipality, Zamboanga del Norte • Ownership: 100% TVIRD • Past Production: Gold: 105,200 ounces; Silver: 1.8 million ounces Copper: 199,778 dmt; Zinc: 30,548 dmt • Current status: Received approval in 2014 to explore nearby exploration prospects (SE Malusok and Malusok) for possible future mining operations S UBJECT TO REGULATORY REQUIREMENTS , TVIRD WILL BE ONE OF JUST SEVEN MINING COMPANIES TO BE GRANTED AN EXPANSION OF ITS MPSA 14
Great Canatuan Area Exploration Potential TVIRD has a package of tenement applications covering 352 square kilometres surrounding the Canatuan mine where similar Canatuan-like deposits may exist. 3 Since 2010, exploration work and MPSA processing 3 3 and approval were on hold due to the ongoing moratorium on new permit applications imposed by the Secretary of the Department of the Environment and Natural Resources. 40 km / 25 mi 2 2 In November 2014, TVIRD the MICC approved the 1 expansion of its Canatuan MPSA to include nearby exploration prospects. TVIRD is now awaiting the Implementation Rules and Regulations for the expansion of its MPSA prior to recommencing exploration work in nearby areas. 15
Competitive Strengths Highly-experienced management and technical team Award-winning reputation as responsible miners Strong Filipino partner support Social licenses to operate Assets are highly secured 16
Competitive Strengths Highly-experienced management and technical team • Management has successfully developed three mines into production in the span of 10 years. • Each mine has involved the exploration, development, permitting, extraction, processing and sale of different commodities – gold, silver, copper, zinc, iron and nickel laterite. 17
Competitive Strengths Award-winning reputation as responsible miners • Recognized as “Best in Class” at the a nnual Presidential Mineral Industry Environmental Awards ceremony by winning four top environmental and safety awards each year from 2010 – 2013. • Received the Titanium Award for Safest Mining Operation in 2014 in its first year of operations at the Agata Nickel Laterite Project. 18
Commitment to Responsible Mining • Free 24/7 healthcare, • Support for 10 schools, ambulance service and with close to 4,000 health & wellness students programs Health and Responsive Sanitation Education Sustainable Infrastructure Livelihood • Sustainability, • Built and maintained a economics and social road network of 140 well-being of km that mobilized community people and goods 19
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