ODIN MINING & EXPLORATION LTD. - Lumina Gold...June 2014 - Ecuador returned to the bond market with...

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ADVANCED GOLD-COPPER EXPLORATION IN SOUTHERN ECUADOR TSX.V: LUM Cangrejos Condor

Transcript of ODIN MINING & EXPLORATION LTD. - Lumina Gold...June 2014 - Ecuador returned to the bond market with...

Page 1: ODIN MINING & EXPLORATION LTD. - Lumina Gold...June 2014 - Ecuador returned to the bond market with an oversubscribed $2B issue (10 years @ 7.95%) July 2014 - Ecuador entered into

ADVANCED GOLD-COPPER EXPLORATION IN SOUTHERN ECUADOR

TSX.V: LUM

Cangrejos Condor

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Qualified Persons (Condor Resource slide 11)

Mit Tilkov, P.Geo., and Vice-President Exploration of the former Ecuador Gold and Copper Corp. is the Qualified Person as defined by NI 43-101

‡ Quality Control/Quality Assurance

The quality assurance/quality control program is monitored by independent consultant Dr. Bruce M. Davis. Logging and sampling are completed at Lumina’s (formerly Odin) secure facility located at the project. The drill core is sawn in half on site and half drill core samples are securely transported to Acme’s sample preparation facility in Cuenca, Ecuador. Sample pulps are sent to Canada for analysis. Gold content is determined by fire assay of a 30 gram charge and total copper content is determined by four-acid digestion with ICP finish at Acme Labs in Vancouver. Check assays for gold were done at ALS Chemex Labs in Vancouver and Lima, Peru. Odin inserts standards, blanks and duplicates selected on a random basis into the sample stream.

Forward-looking statements relate to future events or the anticipated performance of the Company and reflect management’s expectations or beliefs regarding such future events and anticipated performance. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”, or the negative of these words or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual performance of the Company to be materially different from any anticipated performance expressed or implied by the forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include risks related to failure to define mineral resources, to convert estimated mineral resources to reserves, the grade and recovery of ore which is mined varying from estimates, future prices of gold and other commodities, capital and operating costs varying significantly from estimates, political risks arising from operating in Ecuador, uncertainties relating to the availability and costs and availability of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, uninsured risks and other risks involved in the mineral exploration and development industry. Although the Company has attempted to identify important factors that could cause actual performance to differ materially from that described in forward-looking statements, there may be other factors that cause its performance not to be as anticipated. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this presentation and the Company does not intend, and does not assume any obligation, to update these forward-looking statements.

FORWARD LOOKING STATEMENT

† Qualified Persons Leo Hathaway, P.Geo., and Senior Vice President for Lumina Gold Corp (formerly Odin Mining & Exploration [Odin]), is the Qualified Person as defined by National Instrument 43-101 (NI 43-101) for the Cangrejos Project, and has verified the data disclosed in this presentation, including sampling, analytical, and test data underlying the information disclosure. Nelson King, SME Registered Member and Metallurgical Consultant to Lumina (formerly Odin), is a QP as defined by NI 43-101 for the Cangrejos Project. Mr. King assisted in the development and direction of the metallurgical testing program.

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NOV 1, 2016 - LUMINA GOLD IS BORN IN A TRANSFORMATIVE DEAL

Acquire, explore, expand and advance a portfolio of multi-million ounce gold deposits

Realize value in robust gold markets through development and/or disposition

CANGREJOS PROJECT

CONDOR PROJECT

Proven track record . . .

Total Invested Capital: US170 million

Return to Shareholders: ~US$1.9 billion

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12 Month Closing Price Chart | Current 4 week range: 0.70 - 0.84 TSX Venture Exchange LUM

Issued & Outstanding [Nov 1-2016] 203,127,906

Fully Diluted [Nov 1-2016] 209,930,359

Market Cap [Dec 9 - 2016] $148 Million

52 week trading range $0.33 - 0.97

LUMINA GOLD – CORPORATE OVERVIEW

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EXPERIENCED BOARD AND MANAGEMENT

DIRECTORS

Lyle Braaten 25+ years experience practicing law in Vancouver, currently President & CEO of Miedzi Copper Corp.

Heye Daun 20+ years experience mine engineer with top-tier mining companies. Outgoing President & CEO of Ecuador Gold and Copper Corp.

Marshall Koval 36+ years experience in executive and corporate development, finance, engineering, geology and environmental expertise

Donald Shumka 41+ years experience in corporate finance and business. Harvard University Business Administration graduate. Former President & Managing Director of Walden Management Ltd.

Michael Steinmann 20+ years experience as a geologist in the exploration and mining industry with a PhD from the Swiss Federal Institute of Technology. Currently President & CEO of Pan American Silver Corp.

Stephen Stow 30+ years experience in the resource sector and 19 years with Odin Mining. Former Director of Corporate Finance, Asia for the National Westminster Bank, Hong Kong Division

SENIOR MANAGEMENT

Marshall Koval President & CEO Currently President & CEO of Anfield Nickel Corp. Former VP Corporate Development Lumina Copper Corp.

Leo Hathaway Senior Vice President Currently Chief Geological Officer Anfield Nickel Corp. Former Chief Geological Officer Lumina Copper Corp.

Diego Benalcazar Senior Vice President Former President & Director Ecuadorian Chamber of Mines Former GM & Director Swiss Holderbank Cement Group

Martin Rip Chief Financial Officer Currently CFO Anfield Nickel Corp. Former CFO Lumina Copper Corp.

Lyle Braaten VP Legal Counsel Currently President Miedzi Copper Corp. Former Secretary & Legal Counsel Magma Energy Corp.

John Youle VP Corporate Affairs Currently VP Corp Affairs, Anfield Nickel Corp. Former VP Corp Affairs, Lumina Copper Corp.

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Population: 15.9 million

Adopted US dollar as official currency since 2000

Main economic activities

Agriculture (bananas, flowers, coffee, cocoa, rice)

Hydroelectric power - currently 63% of country’s electricity, plan to meet all needs by 2020 and begin exporting surplus power

Oil exports (OPEC member)

10 years of stable democratic government

Focus on education and health

Heavy investment in infrastructure (roads, energy)

Development of Mining Sector a priority for government

June 2014 - Ecuador returned to the bond market with an oversubscribed $2B issue (10 years @ 7.95%)

July 2014 - Ecuador entered into a Free Trade Agreement with the EU

ECUADOR FACTS

Sources: World Bank Electricity Corporation of Ecuador (CELEC) Trading Economics-Ecuador

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President Correa has expressed strong support for large mining projects and recently issued positive mining tax reforms; additional changes are expected soon

Government hired Wood Mackenzie to review mining legal and regulatory framework, and recommend measures to make Ecuador more competitive in attracting investment

February 2015 - Government established the Ministry of Mines of Ecuador, signaling its further commitment to dedicate resources to promote the mining industry

Improved environmental permitting; reducing processing authorizations to 6 months

January 2016 - Government agrees to favorable Exploitation Terms & Conditions with Lundin Gold to develop Fruta del Norte

Government initiated an auction process, expected to begin awarding new concession areas in October 2016 for the first time since 2008

August 2016 - Lundin announces Investment Protection agreement with Government

August 2016 - Government and Junefield Resources participated in the inauguration of the first phase of construction of the Rio Blanco Gold Project, LOM Capital US$90M

ECUADOR – SPECIFIC MINING INVESTMENT PROGRESS

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CANGREJOS AND CONDOR PROJECT LOCATIONS

Condor Project

Cangrejos

Project

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SOUTHERN ECUADOR – GEOLOGY & DEPOSITS

Tertiary – Recent

Sediments

Cretaceous

Island Arcs

Cretaceous - Tertiary

Intrusions

Jurassic

Intrusions

Paleozoic – Cretaceous

Metamorphic Complex

Tertiary – Recent

Continental Volcanics

Triassic – Cretaceous

Sediments / Volcanics

Cangrejos Porphyry Au-Cu

Rio Blanco Epithermal Au

Loma Larga Epithermal Au

Mirador Porphyry Au-Cu

Fruta del Norte Epithermal Au

Condor Epithermal Au

Porphyry Au-Cu

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35 km from Provincial capital of Zamora, Zamora-Chinchipe Province

~30 km south of Fruta Del Norte project (7.4 Moz Au Indicated Resource)

55 km south of Ecuacorriente's Mirador Project (4.5 Moz Au)

Access via paved and gravel roads

Camps and core facility on property

Constructive ongoing relations with local community

CONDOR – LOCATION AND INFRASTRUCTURE

Condor

Fruta del Norte

Mirador

PERU

ECUADOR

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0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00

MIRADOR

FRUTA DEL NORTE

CONDOR

M oz (Au) or B Lbs (Cu)

ECUADOR COMPARABLE CHART

M+I MozAu M+I BLbsCu Inf MozAu Inf BlbsCu

CONDOR – GLOBAL RESOURCE AND REGIONAL CONTEXT

ECUADOR

PERU

CONDOR 43-101 HIGHLIGHTS Gold Resources:

8.0 million oz Indicated1

2.6 million oz Inferred1

Silver Resources: 28.5 million oz Indicated1

9.1 million oz Inferred1

Copper Resources: 2.3 billion lbs Inferred1

1 The Condor Project contains an Indicated Mineral Resource of 8.012 million ounces gold, 28.545 million ounces silver and 0.8 billion pounds of copper (within 447.28 million tonnes grading 0.55 grams/tonne gold, using a 0.25 grams/tonne gold cut-off). Additionally an Inferred Mineral Resource of 2.60 million ounces gold, 9.125 million ounces silver and 0.4 billion pounds of copper (within 197.6 million tonnes grading 0.4 grams/tonne gold, using a 0.25 grams/tonne gold cut-off). The Condor Project also contains a second Inferred Mineral Resource of 1.1 billion lbs of copper (within 161.0 million tonnes grading 0.31% copper, using a 0.2% copper cut-off).

Mirador Porphyry Cu-Au

8.6 Blbs Cu, 4 Moz Au

(in construction)

(in construction)

(exploration)

(exploration)

Fruta del Norte Epithermal Au

7.4 Moz Au

Condor Epithermal Au

2 Moz Au

Santa Barbara Porphyry Au-Cu

5.9 Moz Au

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An estimated US$40M has been spent on the project since 1993 on drilling, trenching, geochemical, geophysical and geological surveys

CONDOR – PREVIOUS WORK COMPLETED

Period Company # of Drill Holes Meterage

1993 - 1998 TVX Gold 230 51,440

2003 - 2010 Goldmarca / Ecometals 151 33,391

2012 - 2014 EGX 36 21,295

TOTALS 417 106,126

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CONDOR – PUBLISHED RESOURCES BY AREA

Condor Project 43-101 Resource Breakdown

Tonnage Grade Contained Metal

(000 t) (g/t Au) (g/t Ag) (% Cu) (000 oz Au) (000 oz Ag) (lbs Cu)

CONCESSION Indicated

Los Cuyes 46,800 0.82 6.19 1,234 9,314

Soledad 34,900 0.63 7.21 707 8,090

Enma 1,005 2.88 32.83 93 1,061

Santa Barbara 364,572 0.51 0.90 0.10 5,978 10,080 0.8 billion

Total Indicated 447,277 0.55 2.0 8,012 28,545 0.8 billion

Inferred

Soledad 20,000 0.50 6.90 300 4,500

Santa Barbara 177,601 0.40 0.80 0.10 2,300 4,625 0.4 billion

Total Inferred 197,601 0.40 1.40 2,600 9,125 0.4 billion

Inferred (Copper)

El Hito 161,000 0.31 1.1 billion

Total Inferred Cu 161,000 0.31 1.1 billion

• Gold resources have been calculated using a 0.25 g/t Au cutoff grade and copper resources at El Hito were calculated using a 0.2% Cu cutoff grade • EGX’s Qualified Person, Mit Tilkov, P.Geo., VP Exploration of Ecuador Gold and Copper Corp. as defined by NI 43-101

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CONDOR – PROPERTY SHOWINGS

Lumina Gold Concessions

Deposits (with resources)

Showings

CONDOR

SOLEDAD

EL HITO SANTA

BARBARA

LOS CUYES

CHINAPINTZA

Tres Cerritos

Santore

Wuanwitza Alto

Prometedor

El Conguime

Silica

Cap

Pachicutza

Alto

Quartzite

Au Skarn

Napintza

El Tambo

ENMA E

CU

AD

OR

PE

RU

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40 km to commercial port of Puerto Bolivar

30 km to Machala, provincial capital

8 km unfinished road from Cangrejos site to paved highway

Power to camp from Ecuador’s national grid

Camp and core facility on property

Sparsely populated, constructive ongoing relations with local community

CANGREJOS – LOCATION AND INFRASTRUCTURE

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Nov 2016 Lumina was awarded several mineral exploration concessions

Of particular significance is Cangrejos 20 which consolidates Lumina’s land position (see map)

2014/15 drill program 3,540 m / 9 holes Infill drilling of the Cangrejos zone Test depth and NE extent of Cangrejos zone

Nov 2015 - Metallurgical testwork ‡ completed

Can be processed by conventional methods High gold and copper recoveries By-products - silver and molybdenum

Geotechnical program - ongoing

Environmental monitoring - ongoing

Community relations - ongoing

CANGREJOS – PREVIOUS WORK COMPLETED

Period Company # of Drill Holes Meterage

1999 - 2000 Newmont 13 3,586

2010 - 2012 Odin 17 4,698

2014 - 2015 Lumina 9 3,540

TOTALS 39 11,824

‡ see slide 2

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Porphyry Au-Cu style mineralization Hosted in breccias and diorite porphyry

Associated with potassic alteration

Higher Au values usually correlate with finely disseminated chalcopyrite

CANGREJOS – DRILL HIGHLIGHTS

Hole From (m) To (m) Interval (m) Au g/t Cu %

CC11-31 14.5 352.0 337.5 0.68 0.12

including 14.5 132.0 117.5 1.10 0.09

CC11-33 10.0 374.0 364.0 0.59 0.08

including 70.0 140.0 70.0 1.06 0.11

Hole From (m) To (m) Interval (m) Au (g/t) Cu % *Au Eq

(g/t)

C14-47 (415.10m) 0.00 405.10 405.10 0.66 0.09 0.82

including 73.10 131.10 58.00 1.63 0.16 1.91

C14-48 (351m) 0.00 351.00 351.00 0.51 0.08 0.65

including 0.00 19.00 19.00 1.65 0.17 1.94

including 291.00 351.00 60.00 1.08 0.09 1.23

C14-49 (407.75m) 0.00 336.00 336.00 0.44 0.11 0.63

including 6.80 68.00 61.20 1.01 0.10 1.18

including 134.00 176.00 42.00 0.72 0.35 1.29

C14-50 (539.55m) 11.00 177.00 166.00 0.47 0.10 0.66

and 269.00 539.55 270.55 0.78 0.21 1.15

including 337.00 417.00 80.00 1.45 0.18 1.76

C14-51 (350.15m) 0.00 344.40 344.40 0.67 0.09 0.83

Including 66.40 114.40 48.00 1.52 0.10 1.69

2011/12 HIGHLIGHTS

2014/15 HIGHLIGHTS

• Gold equivalents calculated at a gold price of $1,200

per ounce and $3.00 per pound of copper. 100% recoveries are assumed in the absence of metallurgical test work. No interval reported above contains an intersection of 10m or greater of continuous samples grading below 0.2 g/t Au Eq. The highest drill core assay used in the above results is 5.48 g/t for gold and 1.39% for copper. No top cutting of the database was deemed necessary. All samples in the drill program were 2m long except for a total core length of 55.75m in 32 samples (1.6% of total), which were cut to different lengths.

† Qualified Persons – see slide 1

‡ Quality Control/Quality Assurance - see slide 1

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BUILD A WORLD CLASS PORTFOLIO OF GOLD PROJECTS

Aggressively explore existing properties

Condor Project:

Prepare a 2017 drill program to further expand resources at Santa Barbara and El Hito

Continue baseline environmental studies and community relations programs already established

Assess the potential of the property’s other mineralized showings

Cangrejos Project: Continue additional drilling of the Cangrejos deposit

Complete additional metallurgical studies

Upgrade access roads to facilitate exploration and development programs

Continue baseline environmental studies and community relations programs

Identify new properties for acquisition

With significant resource upside potential

Within favourable jurisdictions

LUMINA GOLD – STRATEGY GOING FORWARD

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PHOTO GALLERY

CONDOR CANGREJOS

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For more information, please contact:

LUMINAGOLD Corp 410 - 625 Howe Street Vancouver | BC | V6E 2E9 Canada TF: 1 855 616 3556 T: 1 604 646 1890 F: 1 604 687 7041 E: [email protected] W: www.luminagold.com

T S X . V : L U M

Dec/9/2016

Cangrejos

Condor