EXPLORATION AND RESOURCE EXPANSION ON THE CHEECHOO … · 2020-05-14 · Corporate Presentation....

TSX-V SOI

EXPLORATION AND RESOURCE EXPANSION ON THE CHEECHOO GOLD PROJECT

Corporate PresentationMarch 2020

This document contains forward-looking statements, which reflect the current expectations of the Company as at the date hereof with respect to future events. To the extent that any statements in this document contain information that is not historical, these statements are forward-looking statements and can often be identified by the use of words such as "expect", "anticipate", "estimate", “project", "intend", "plan", and "believe".

Forward-looking statements take into account risks, uncertainties and other factors that could cause actual results to differ from those expressed or implied by such forward-looking statements. There are several factors that could cause such differences, including volatility and sensitivity to metal prices on the market, the impact of changes in the level of exchange rates of foreign currencies and interest rates, imprecision of reserve estimates, environmental risks including increased regulatory restrictions, unexpected geological conditions, adverse mining conditions, regulatory changes and government policies, including laws and policies, and the inability to obtain necessary permits and approvals from government authorities, and other risks associated with exploration and development.

Although the Company believes that the assumptions used in the forward-looking statements are reasonable, the reader should not place undue reliance on such forward-looking statements. The Company does not undertake, and assumes no obligation to update or revise any forward-looking statements contained herein to reflect new events or circumstances, unless required by applicable securities laws.

All amounts are in Canadian dollars unless otherwise indicated.

2SIRIOS RESOURCES | TSX-V SOI

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Sirios Resources is a Canadian exploration company focused on developing its high-quality gold projects within the Eeyou IstcheeJames Bay region of Quebec.

Eeyou Istchee James Bay• Underexplored region of Quebec, Canada;• Located in a world-famous favorable mining jurisdiction.

Sirios Resources• 5 high-quality gold projects;• Renowned team with a decades-long proven track record;• Backing from all Quebec major funds (incl. Caisse de dépôt);• Support from Newmont, our largest shareholder;• Liquid investment.

Cheechoo: Sirios’ Flagship Project• 1.6 Moz Au Inferred resources (71.0 Mt @ 0.69 g/t Au);• Significant upside for expanding the mineral resources;• 64,200 m of drilling (270 holes), 3,000 m of channel sampling;• Strong exploration potential;• Excellent gold recovery (up to 97% of recovered gold, including 88% by gravity);• Low strip ratio of 1.1:1;• Easy access to road, airstrip, hydro-electricity, communication networks.


SIRIOS: FOCUSED ON GOLD IN JAMES BAY, QUEBEC


TEAM WITH TRACK RECORD OF MAKING DISCOVERIES

Dominique Doucet, P.Eng. Frédéric Sahyouni Gilles Dupuis Michel F. Bouchard, P.Geo.Founding President & CEO Chief Financial Officer Chairman of the Board DirectorDominique Doucet has been active in the mineral exploration industry for close to 45 years. He holds a degree in geological engineering with a specialization in mineral exploration from the École Polytechnique de Montréal.

Mr. Doucet founded Sirios Resources in 1994 and was awarded, along with his team, the Discovery of the Year Award in 2001 and 2016 by the Québec Mineral Exploration Association (QMEA).

Frédéric Sahyouni, B. Comm., has been an integral part of the Sirios team for over ten years, managing the company’s finances, investor communications and marketing.

Mr. Sahyouni has been Chief Financial Officer of the company since 2011 and was a director of Sirios from 2011 to 2014. He has worked as a business consultant for different companies both in the mining and music industry.

Gilles Dupuis worked as an investigator at the Illegal Practice Surveillance Service of the Ordre des Ingénieurs du Québec from 2001 to 2017.

Mr. Dupuis was employed, from 1968 to 2000, with the Montreal City Police Service, first as policeman and later as an investigator. He was a Director of Khalkos Exploration Inc. from 2011 to 2013. Mr. Dupuis has been an active private investor mainly in natural resources companies since 1999.

Mr. Bouchard has been involved in the mining industry for more than 30 years. He holds a master’s degree in geology and a MBA, and has been a Director and a Senior Executive for several publicly traded mining companies.

He was recently President and CEO of Clifton Star Resources Inc., which was acquired by First Mining Finance Corp., for which he is now a Director. Mr. Bouchard was responsible for the co-discovery of the Bouchard-Hébert mine, in northwest Québec.

Luc Cloutier Guy Chevrette Roger Doucet Louis Martin, P.Geo.Director Director Technical advisor Technical advisorLuc Cloutier holds an Accounting Diploma from the Timmins Business College. From 2001 to 2011, he was Chairman of CaisseDesjardins d’Amos, where he acted as director during the previous ten years.

He was President & CEO of Trudel & Frères, a safety products and equipment distributor company. Since 1998, he has been President of his own private management company.

Mr. Chevrette has been a member of the National Assembly of Quebec from 1976 to 2002, during which he served as Minister of Natural Resources, Minister for Aboriginal Affairs, Minister for Regional Development, Minister of Transport and Minister for Wildlife and Parks.

Since then, he served as President of the Association des centres locaux de développement du Québec and of the Québec Forest Industry Council.

Roger Doucet, B.Sc. in geology, has held management positions in several exploration companies over his 40-year career, including as Director of Exploration for Agnico-Eagle in Mexico. Mr. Doucet was also responsible for the discovery of the Bousquet 1 gold mine and was greatly involved with the discovery of the Doyon gold mine in Abitibi, Québec.

He was granted the Prospector of the Year Award in 1978 and the Nicolas-Denys Medalin 2019 by the QMEA.

Mr. Martin has over 30 years of experience with major, mid-tier, and junior mining companies. He has made significant contributions to the discovery of several gold and base metal deposits. He acquired his exploration and mine development experience in Québec, Ontario and B.C.

He was awarded, along with his team, the Discovery of the Year Award in 1989 and 2005 by the QMEA.

World's largest gold mining company

As of February 27, 2020


STRONG SHAREHOLDER SUPPORT

Global Texas-based fundwith a focus on gold

Toronto-based fund investing in Can. exploration

Toronto-based fund investing in Can. exploration

Vancouver-basedinvestment fund

Major Québec gov’t fund investing in min. exploration

Québec’s largest labor body

Largest pension fund in Canada

Capitalized in equal shares by CDPQ and Desjardins

Québec gov’t org. promoting dev. of nat. resources

Largest association of credit unions in North America

World-class precious metals royalty company

Funds, Corporations

28%

Others43%

Newmont18%

Directors & Trustees

11%

TSX-VSOI

Share Price $0.13

Market Capitalization $22.4M

Working Capital $3.1M

Shares Outstanding 172.2M

Warrants 5.9M

Options 12.0M

Fully Diluted 190.0M

52 Week Range $0.12 – 0.27

As of February 27, 2020


SIRIOS STOCK HAS SIGNIFICANT UPSIDE POTENTIAL

TSX-V SOI

52 Week Stock Chart

• World-famous favorable mining jurisdiction (EeyouIstchee James Bay, Québec)

• Multiple showings discoveredon the properties

• Excellent infrastructure(roads, electricity)

7RESSOURCES SIRIOS | TSX-V SOI

5 HIGH POTENTIAL GOLD PROPERTIES

CHEECHOO

AQUILON

NISKA

PONTAX

SAKAMI

CLEARWATER

ELMER

SOLO

RadissonChisasibi

Wemindji

La Grande-3

Nemiscau

Waskaganish

La Grande-4

ADVANCED STAGE

DISCOVERY STAGE

GRASSROOTS

100 km

ÉLÉONORE MINE

8CHEECHOO GOLD PROJECT | TSX-V SOI

CHEECHOO: 100% OWNED* GOLD PROPERTY NEAR ÉLÉONORE

Cheechoo Deposit

Éléonore MineNewmont’s Éléonore Gold Mine• In production since 2015• Reserves of 1.28 Moz (Feb. 2020);• Resources of 0.99 Moz (Feb. 2020).

Sirios’ Cheechoo Gold Project• Inferred Resources of 1.6 Moz (Dec. 2019);• Less than 15 km from Éléonore;• 81 km2 of high potential claims;• Major kilometric structural contact

(context similar to Éléonore).

*with 2.5 to 4% NSR to Golden Valley Mines

As of January 2020:

• 64,200 m of diamonddrilling (270 holes);

• 3,200 m of channelsampling;

• Main gold-bearing area(of about 500 by 500 m) drilled to a 50 m spacing;

• Borehole surveysconducted in 57 holes.


MORE THAN 60,000 M OF DRILLING, AND COUNTING


MULTIPLE HIGH-GRADE ZONES WITHIN A LOW-GRADE ENVELOPE

CHEECH

OO

(Sirios)

ÉLÉON

ORE SO

UTH

(Eastmain/N

ewm

ont/Azimut)

N

B

A

A B

200m 100m

Plan View Section View


AN OPEN PIT MODEL WITH EXPANSION POTENTIAL

CHEECH

OO

(Sirios)

ÉLÉON

ORE SO

UTH

(Eastmain/N

ewm

ont/Azimut)

200m 100m

N

B

A

A BPlan View Section View


MORE THAN ONE MILLION OUNCES OF GOLD DELINEATED

1.6MozInferred Gold Resources*

71MtTonnage*

0.69g/tGrade*

The first resource estimation conducted on the property (December 2019), based on an open-pit constrained model, resulted in:

• Inferred resources containing 1.6 million ounces of gold (Moz), from 71.0 million tonnes (Mt) at an average grade of 0.69 grams of gold per tonne (g/t Au)*;

• Significant upside for expanding the maiden mineral resources with the potential to add an additional 25% more ounces that have been outlined on the Cheechoo property but require an agreement with the neighbouring property to access this material.

*Detailed information can be found in the “Mineral Resource Estimate for the Cheechoo Project” NI 43-101 Technical Report filed on December 6, 2019, which is available on www.sedar.com and on the Company's website, www.sirios.com. Mineral resources are reported at a cut-off grade of 0.30 g/t. The cut-off grade and pit optimization was calculated using the following parameters (amongst others): Gold price = USD 1,300, CAD:USD exchange rate = 1.30, Hard Rock Mining cost = $2.60/t mined with incremental bench costs of 0.05$ per 10m bench, Overburden Mining Cost = $3.50/t mined, Mining Recovery = 95%,Mining dilution = 5% at 0g/t Au, Metallurgical Recovery varying from 85% to 88%, Processing cost = $10.00/t processed, G&A = $2.94/t processed, Royalty of 3%, Refining and Transportation cost = $5.00/oz. See Appendix I for full notes to the MRE results.

http://www.sedar.com/

http://www.sirios.com/

• Free gold, often coarse

• Gold recovery rates up to 97.1%(incl. 88% by gravimetry)

• Non-polluting(< 0.2% sulfides in the tailings)

• Low consumption of reagents

• Encouraging comminution tests

• Potential for cylinder crushing (HPGR)

• Potential for flotation of the gravityprocess’ tailings


EXCELLENT GOLD RECOVERY

TONALITE(0.66 g/t) PEGMATITE

(4.38 g/t) META-SEDIMENTS(0.22 g/t)

81.4% 88.0%

56.5%

15.2% 9.1%

34.5%

96.6% 97.1%91.0%

Gol

d R

ecov

ery

Gravity Cyanidation

Proximity to existing infrastructures, including:

• Road access;

• An airfield;

• A hydro-electric power line;

• The Éléonore mine camp;

• A cell tower.

Éléonore

Cheechoo


ALREADY EXISTING INFRASTRUCTURE

5km

September 2019:Site access improved

(new bridge)


THE CHEECHOO PROJECT CONTINUES TO GATHER MOMENTUM

August 2019:Wetland

characterization study

January 2019:Construction of a permanent camp

September 2019:Metallurgical tests

October 2019:Funding of $1.5 M

(Newmont at 19.9%)

November 2019:Resource estimation

(1.6 Moz Au)

February 2020:New drilling

program

1 Dependent on permit approval.2 Subject to revision following the results of the resource estimate and metallurgical tests.


Period Planned Works Objectives

Winter 2020 5,000 m Drilling Program Expand the deposit’s dimension, test “wildcat” targets

Spring 2020 Bottle Roll and Column Lixiviation Tests Better assess the heap leach gold recovery

Summer 2020

Stripping and Channel Sampling1 Reinforce the high grades model

Road and Camp Improvement Reduce costs and improve the logistical efficiency

Site Reclamation Reduce the environmental footprint

Impact Studies Progress towards the Preliminary economic assessment

2021 Preliminary Economic Assessment (PEA)

2021-2022 Bulk Sampling1,2 Better assess the grade

2021-2022 Definition Drilling Transform the inferred into indicated resources

To come Pre-feasibility Study (PFS)

NEXT STEPS IN THE CHEECHOO GOLD PROJECTEXPLORATION AND RESOURCE EXPANSION


A STRONG EXPLORATION POTENTIAL

MAIN AREA

ÉCLIPSE AREA

TILL AREA

MAFIC DYKE AREA

NW AREA

Paragneiss

Meta-greywacke

Tonalite

Pegmatite

Granite

18AQUILON GOLD PROJECT | TSX-V SOI


2019 Modelling and Reinterpreting Define the high grade gold shoots’ geometry

March-April 2020 2,000 m Drilling Program Target the gold shoots’ extensions, test “wildcat” targets

NEXT STEPS IN THE AQUILON GOLD PROJECTNEW APPROACH TO BE TESTED

AQUILON

La Forge-1 Road

2 kmPlanned Drillhole

19NISKA AND SOLO GOLD PROJECTS | TSX-V SOI


February 2020 High-Resolution Magnetic Survey Map Suspected NE/SW Fault Zones

March 2020 Data Compilation Generate Prospecting Targets on Niska and Drilling Targets on Solo

April 2020 Drilling Program on the Solo Property

NEXT STEPS IN THE NISKA AND SOLO GOLD PROJECTSHIGH POTENTIAL TARGETS IN THE ELMER LAKE AREA

10 kmSOLO

James Bay Road

ELMER(Azimut’s Gold Discovery)

NISKA


THANK YOU!

For more information

Sirios ResourcesTSX-V: [email protected]

1000 St-Antoine Ouest, suite 410Montréal, QC, Canada, H3C 3R7514-510-7961

www.sirios.com

Notes to the MRE Results:

1. The independent qualified person for the 2019 MRE, as defined by NI 43-101 guidelines, is Pierre-Luc Richard, P. Geo., of BBA Inc. The effective date of the estimate is December 6, 2019.

2. These mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred resources in this MRE are uncertain in nature and there has been insufficient exploration to define these resources as Indicated or Measured; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

3. Resources are presented as undiluted and pit constrained scenario and are considered to have reasonable prospects for economic extraction. Although calculated cut-off grades range from 0.28 to 0.29g/t, a cut-off grade of 0.30g/t Au was used for the MRE. The pit optimization was done using Deswik Mining Software Version 2019.3.491. The constraining pit shell was developed using pit slopes of 45 to 50 degrees in hard rock and 26 degrees in overburden. The cut-off grade and pit optimization was calculated using the following parameters (amongst others): Gold price = USD 1,300, CAD:USD exchange rate = 1.30, Hard Rock Mining cost = $2.60/t mined with incremental bench costs of 0.05$ per 10m bench, Overburden Mining Cost = $3.50/t mined, Mining Recovery = 95%,Mining dilution = 5% at 0g/t Au, Metallurgical Recovery varying from 85% to 88%, Processing cost = $10.00/t processed, G&A = $2.94/t processed, Royalty of 3%, Refining and Transportation cost = $5.00/oz. The conceptual pit-constrained resource has a 1.1:1 stripping ratio. The cut-off grade will be re-evaluated in light of future prevailing market conditions and costs.

4. The MRE was prepared using Geovia® GEMS 6.8.2 and is based on 270 surface drill holes and 385 surface channel samples, with a total of 47,363 assays. The resource database was validated before proceeding to the resource estimation. Grade model resource estimation was calculated from drill hole data using an OK interpolation method in a block model using blocks measuring 10 m x 10 m x 10 m in size. The cut-off date for drill hole database was March 20, 2019.

5. The model comprises 37 mineralized zones (which have a minimum thickness of 3 m), five lithological units and one low-grade mineralized body mostly included in the tonalite intrusive unit, each defined by drill holes intercepts.

6. High-grade capping was done on the composited assay data and established on a per unit basis. Capping grades used vary from 5 g/t to 80 g/t Au and the use of restricted search ellipsoids was also used. A value of zero grade was applied in cases of core not assayed.

7. Fixed density values were established on a per unit basis, corresponding to the median of the SG data of each unit ranging from 2.65 to 2.71. A fixed density of 2.00 g/cm3 was assigned to the overburden.

8. The MRE presented herein is categorized as an Inferred resource. The Inferred mineral resource category is defined for blocks that are informed by a minimum of two drill holes where drill spacing is less than 100 m for the mineralized intrusive-related mineralization. Where needed, some materials have been either upgraded or downgraded to avoid isolated blocks.

9. The number of tonnes (metric) and ounces were rounded to the nearest hundred thousand.

10.CIM definitions and guidelines for Mineral Resource Estimates have been followed.

11.The author is not aware of any known environmental, permitting, legal, title-related, taxation, sociopolitical or marketing issues, or any other relevant issues not reported in this Technical Report that could materially affect the Mineral Resource Estimate.


APPENDIX I

EXPLORATION AND RESOURCE EXPANSION ON THE CHEECHOO … · 2020-05-14 · Corporate Presentation....

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