Tamaka presentation February 3 2015

February 2015

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Forward Looking Statements

The following presentation may include certain “forward-looking statements” within the meaning of the United States Private Litigation Reform Act of 1995 and applicable Canadian Securities Laws. All statements, other than statements of historical fact, included in the presentation, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Tamaka, are forward-looking statements. Words such as “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe” and other similar expressions are forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather reflect our current views with respect to future events and are subject to risks, uncertainties, assumptions and other factors, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that such forward-looking statements will prove to be accurate. We base our forward-looking statements on information currently available to us and we do not assume any obligation to update them, except as required by law.

An additional Cautionary Note to Investors – In the event that we use certain terms in this presentation, such as “resource”, “measured resource”, “indicated resource” and “inferred resource”. U.S investors are cautioned that, while such terms are recognized and required by Canadian Securities Laws, the United States Securities and Exchange Commission does not recognize them. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination has been made. U.S. investors should not assume that all or any part of measured or indicated resources will ever be converted into reserves. In addition, “inferred resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Accordingly, information concerning descriptions of mineralization in this presentation may not be comparable to information made public by companies that are subject to the SEC’s Industry Guide 7.

The technical information contained in this presentation has been reviewed and approved by D. Roger Scammell, P. Geo., Tamaka Gold Corporation’s Vice President Exploration, who is a Qualified Person as the term is defined in NI 43-101.

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Investment Highlights

Tamaka has created a world class deposit in Ontario, Canada, the Goldlund Deposit.

M&I Resources of 1,275,700 ounces @1.96 g/t

Inferred Resources of 2,763,000 ounces @ 2.11 g/t

Deposit remains open to depth and along strike

Goldlund is being evaluated for development potential.

Whittle pit analysis indicate strong metrics.

Areas have been identified for potential starter pits within Zone 1 and 7.

Metallurgical test work demonstrate 92% average recovery.

Goldlund is situated near excellent infrastructure within proximity of a sizeable workforce.

The lower Canadian dollar has materially strengthened gold price in $CDN terms.

M & A activity consistently supports shareholder value creation.

Strong management team.

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Management

Managemen

t

Howard KatzPresident & CEO

Joined Tamaka as CEO in June 2011. Former head of mining investment banking at a leading national firm. Over 10 yrs of experience in mining financing and financial advisory services in the junior and intermediate mining sector. Former board member of Premier Royalty Corporation, a TSX listed company acquired by Sandstorm Gold Ltd.

D. Roger ScammellVP Exploration

Over 40 yrs of experience in the mining and exploration industry in N. America. Former Country Manager for Teck Corporation and its Mexican subsidiary. Discovered the 72M tonne San Nicolas massive sulphide deposit and the El Limon gold skarn deposit. Roger was also responsible for the exploration, development, and initial production of the Nuestra Señora polymetallic silver mine owned by Scorpio Mining Corporation.

Karel PieterseVP Operations

Mining Engineer with over 40 yrs of mine construction and operating experience. Previous experience as Project Engineer (Fox Lake & Pine Bay), Mine Superintendent (Asbestos Corp.) and General Mine Superintendent (Patino Mines). Responsible for initiating, constructing and operating at least 17 projects including Hemlo’s David Bell and Golden Giant mines, and Inco’s Shebandowan underground and Whistle open-pit mines.

John OliveiraVP Finance & CFO Joined Tamaka in June 2010. Chartered Accountant with over 10 yrs of experience. John has also served

as Controller and Chief Financial Officer of several junior mining and exploration companies.

Brigitte BakerManager of Exploration

Prior to joining Tamaka in 2012, worked in various geological and project management capacities at New Gold, Manex Resources Corporation, Pacific Ridge Exploration and Future Metals. Brigitte has a degree in Geological Engineering from Queens University.

George KakewayFirst Nations Consultant George is an Ojibway from the Wauzhushk Onigum Nation born and raised on Lake of the Woods in the

Treaty #3 Territory. George was elected Chief of the Wauzhushk Onigum Nation where he served for 26 yrs.

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Board of Directors

Director

s

Frank ZoebeleinChairman

Founder and major shareholder of highly successful furniture manufacturer (REFF), publicly traded on TSX. REFF divested to Westinghouse in 1989, and Mr. Zoebelein has since devoted substantial time and resources to mining-related projects.

Howard KatzDirector President & CEO of Tamaka Gold Corporation.

Kenneth StoweLead Director

President of Northgate Minerals since 1999 and served as CEO from 2011 until his retirement in 2011. Mr. Stowe has also held senior positions with Diamond Fields, Noranda, and Westmin. Current director of Hudbay, Alamos Gold and Klondex Exploration.

Farokh S. HakimiChair – Audit Committee Executive VP and CFO of Inco until its acquisition by Vale in 2006. Former VP and CFO of Rio Algom

Ltd..

Abraham DrostDirector

Registered Professional Geoscientist with over 25 yrs of experience in the Canadian mining industry. Former President of Sandspring Resources and Sabina Silver. Current President & CEO of Carlisle Goldfields (TSX:CGJ)

Donald SheldonDirector

Securities lawyer and professional engineer with more than 30 yrs of experience. Executive officer of Sheldon Huxtable Professional Corporation and Rockex Mining. CEO of MetalCORP, and a Director of Champion Minerals, GoldTrain Resources, Carlisle Goldfields, and Crown Gold Corporation.

Steven MarshallDirector Co-founder, President & CEO of RASOLAR and co-founder of Folio Asset Management, a leading

creator and distributor of structured products.

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Overview: World Class Jurisdiction

Located near Sioux Lookout, Ontario Site of historic gold mining The Goldlund Deposit is situated on the

Wabigoon Greenstone Belt It is in a similar geological setting to the

Rainy River Project Ontario M&A activity includes: Probe

Mining (Goldcorp), Rainy River (New

Gold), Magino (Argonaut Gold), Coté

Lake (Iamgold), Kirkland Lake

(Queenston Mining),Young-Davidson

(Aurico).

Source: Company Reports

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Gold District Next to Excellent Infrastructure

Approximately 350 km² (100% Controlled)- represents district scale potential

The Property covers a 32 km trend with 18 km of mineralized strike already established

Adjacent to provincial Ontario highway Hwy 72

Power and rail lines in close proximity Natural gas pipeline along HW 17 Abundance of skilled labour Site supports year-round work conditions

N

NI 43-101 Global Resource Estimate*Cut-off Class Million

TonnesAu

(g/t)Ounces

0.4 g/t

Measured 8.9 2.06 589,000Indicated 13.6 1.64 719,000M & I 22.5 1.81 1,308,000Inferred 48.1 1.86 2,870,000

0.5 g/tBase Case


0.7 g/t


1.0 g/t


Global Resource Estimate

* This global resource estimate was taken from Tamaka’s January 2015 NI 43-101 compliant resource statement prepared by WSP.

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Current Goldlund Global Resource – By Zone (0.5 g/t cut-off)

Category Tonnes (‘000) Grade (g/t Au) Ounces

Measured 8,421 2.15 582,300

Indicated 11,688 1.84 691,300

TOTAL M&I 20,109 1.97 1,273,600

TOTAL Inferred 40,544 2.12 2,760,000

Zone CategoryTonnes (‘000)

Grade (g/t Au)

Ounces

2 Indicated 1,790 1.88 108,300

2 Inferred 3,405 1.22 134,000

Zone Category Tonnes (‘000)Grade (g/t

Au)Ounces

7 Measured 1,085 2.22 77,440

7 Indicated 2,916 1.78 166,800

7 Inferred 13,385 3.55 1,527,000


Grade (g/t Au)

Ounces

1 Measured 7,336 2.14 504,860

1 Indicated 3,930 1.62 204,100

1 Inferred 15,518 1.41 705,000


Grade (g/t Au)

Ounces

5 Inferred 1,975 1.36 86,000


Grade (g/t Au)

Ounces

4 Indicated 2,502 2.26 181,700

4 Inferred 2,905 1.59 149,000

WindwardShaft

GoldlundShaft

ZoneZone CategoryTonnes (‘000)

Grade (g/t Au)

Ounces

8 Indicated 549 1.72 30,400

8 Inferred 900 0.93 27,000

Zone Category Tonnes (‘000)Grade (g/t

Au)Ounces

3 Inferred 3,405 1.22 134,000

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Goldlund Deposit: Large Scale Bulk Tonnage

The gold bearing veins are hosted by seven felsic sills with mineralization delineated over a 3 kilometer strike length.

Deformation created a stock-works within the sills which can be up to 50 meters wide. The intervening volcanics also host gold bearing shears not included in the current resource calculation The free gold is finely disseminated and associated with pyrite and pyrrhotite.

Drill Targets – Additional In-Pit Resource Potential

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TARGET 1 ZONE 2/3 NE Ext.(Hole K11- 137 40.4 m @ 1.59 g/t gold)

TARGET 1 CONNECTION BETWEEN

ZONES 1 & 7

TARGET 3NE EXTENSION ZONE 1

TARGET 6 ZONE 2 SW Ext.(Hole G08-74: 44.5m @ 0.54 g/t gold)

TARGET 7 ZONE 2/3 NE ExtI.P. ANOMALIES

(Hole K11-110 22.9 m @ 0.40 g/t gold)

TARGET 4ZONE 1 SHAFT PILLAR

Historical Drilling

+ Recent Drilling

+ Geophysics

+ IP Survey

+ Sampling

=

High Priority Targets Focused on Expansion

TARGET 8ZONE 7 UPGRADE

TARGET 5 ZONE 4 SW Ext.(Hole L111: 27.73m @ 1.74)

Conceptual Pit Design – For Illustration

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3 km

750 m

Whittle In-pit Resource Estimate

* This global resource estimate was taken from Tamaka’s January 2015 NI 43-101 compliant resource statement prepared by WSP.

NI 43-101 Whittle Pit Resource Estimate*

Gold Price Class Million Tonnes

Au (g/t) Ounces

In Pit Base CaseUS $1200Strip 6.2:1

Measured 8.4 2.1 571,000

Indicated 10.6 1.82 571,000

M & I 19.1 1.94 1,194,000

Inferred 25.8 2.51 2,085,000

In PitConservative

Case US $840

Strip 5.1:1

Measured 8.1 2.14 561,000

Indicated 8.0 2.02 521,000

M & I 16.1 2.08 1,082,000

Inferred 18.4 2.98 1,766,000

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Content of Pit Shell ($US 1200/oz)

• Potential for starter pit

• Demonstrates continuity

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EN

Pit Shell (US $1200 / oz) (Long Section View)

• Maximize Open Pit Size Pit Shell Scenario

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BLOCK MODELAu_Gt_Ok

• 322.0 M tonnes Rock• 44.9 M tonnes “Ore” @ 2.2 g/t (0.4 g/t cut-off)• 3.1 M Ounces contained• 6.2 Strip Ratio• Pit depth approximately 200 metres

E

N

Outside Pitshells reported from Surpac, no dilution, no losses

Breakdown By Zone (US $1200 /oz)

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Classification Zone Tonnage Au g/t Ounces

Measured1 7,303,200 2.10 494,030 7 1,156,000 2.08 77,420

Subtotal 8,459,200 2.10 571,450

Indicated

1 3,859,700 1.58 195,500 2 1,642,900 1.76 93,000 4 1,664,600 2.73 146,100 7 2,967,500 1.67 159,000 8 508,600 2.00 29,200

Subtotal 10,643,300 1.82 622,800 M&I Subtotal 19,102,500 1.94 1,194,250

Inferred

1 10,518,000 1.46 495,000 2 1,028,000 1.22 40,000 3 1,608,000 1.52 79,000 4 734,000 2.40 57,000 5 1,284,000 1.19 49,000 7 9,958,000 4.20 1,344,000 8 715,000 0.90 21,000

Subtotal 25,845,000 2.51 2,085,000

cut-off 0.4 g/t Au

Conclusions - Whittle Analysis

• Open Pit viable

• Pit Optimization Sensitivity• Overall slope angle has limited impact on pit value• Metal recovery has limited impact on pit value• Differences within range of accuracy of geologic model

• Suitability of starter pit – preliminary work indicates opportunity for enhancing early economic return

• Additional diamond drilling required to:• Enhance in-pit resource• Collect geotechnical data • Determine hydrogeologic regime

• Project shows favorable economic potential

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Metallurgical Testing

Overall recovery ranged from 85% to 96% - average 92%. Thirteen samples tested (1,138Kg) – representative of entire resources. All zones represented and samples reflected resource grade. Mineralized material at Goldlund has straightforward mineralogy. Net results of deportment study is that Goldlund deposit’s contained gold is readily liberated and

recovered

All test composite samples when ground to a nominal P80 of 45μm contained significant coarse gold

amenable to gravity separation followed by bulk leach (48hr retention) to recover substantially most of the gold – suggest a simple Gravity/CIL recovery circuit.

ABA testing indicate that Goldlund mineralization can be classified as potentially non acid generating. Bond Work Index produced an average of 14.9 Kwh/t; categorized as Medium Test program by SGS Mineral Services.

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Potential Strike Extension – “Blue Sky”

18 km

Only 3.5 km of strike length explored Known mineralization extends over

18.0 km strike (historical drilling) Multiple targets have been generated

along strike Favorable geologic setting identified

over 50 km strike length

MILES LAKE PROSPECT17.1m @ 0.83 g/t gold

(Trench sample)

EAGLELUND PROSPECT6.9m @ 0.85 g/t gold

SLOUGH LAKE PROSPECT

4.0m @ 4.1 g/t gold

QUYTA PROSPECT5 – 7 M tonnes grading 0.6 – 0.9 g/t gold

T-21-VH

T-24-H

T-27-H

T-32-H

T-29-H

T-31-H

T-35-M

T-36-HT-37-M

T-38-H

T-20-H

T-19-H

MILLER/SCOTIA PROSPECT

49.0m @ 0.99 g/t gold

T-26-H

T-34-VH

Potential Strike Extension – “Blue Sky”

2 Km

Historical Drilling

+ Geophysics

+ IP Survey

+ Sampling

=

High Priority Targets Focused on Blue Sky Potential

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21

Site Infrastructure in Place for 6 + Drills

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First Nations

Agreements in place with both First Nation partners Tamaka consistently employs members of the First Nations on the project Tamaka is committed to building a sustainable partnership

Howard Katz shaking hands with Chief Ruben Cantin Sr. of Wabigoon Lake Ojibway Nation on signing MOU between Tamaka and WLON.

Howard Katz presenting gift to Chief Clifford Bull of Lac Seul First Nation on signing Negotiation Protocol between Tamaka and Lac Seul.

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Rundle-Swayze Project

Rundle-Swayze project has excellent upside potential South Rundle NI 43-101 Resource

Measured 7.44g/t 7,800oz Indicated 7.27g/t 83,900oz Measured/Indicated: 7.28g/t 88,600oz Inferred: 6.19g/t 59,700oz

The calculation above was completed using a 2.0g/t cut-off

Swayze NI 43-101 Resource Measured 7.71g/t 15,300oz Indicated 5.58g/t 67,400oz Measured/indicated: 5.88g/t 82,700oz Inferred: 4.50g/t 94,400oz

The calculation above was completed using a 2.2g/t cut-off

On a prospective trend 40 km from IAMGOLD’s Coté Lake Project (formerly Trelawney) Multiple targets identified, potential to significantly expand resource Significant infrastructure and Capital equipment in place Fast track to production Will seek to unlock value over the coming year

Resource Statement taken from updated P & E Mining Consultants Inc., NI 43-101 Report January 2013

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Tamaka Corporate Objectives

Prepare for Preliminary Economic Assessment (PEA) Pursue additional in-pit drill targets with the objective to further expand the

Goldlund Project Continue de-risking activities that will form the basis of a PEA Assess corporate opportunities

Expand, Advance and De-risk Project

to maximize shareholder value

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Share Capital Structure

Type Shares

Total Basic Shares 45,096,058

Options 4,509,605

Warrants 15,583,528 ** As of January 1 2015

Convertible Debentures - (1)

F.D. Shares 65,189,191

Equity Financing History Notes

December 2012 Raise(non- brokered) 44,166 Units at $1.20

$1,279,210 908,303 Flow Through units at $1.35

December 2011 Raise(non- brokered) 1,616,333 Units at $1.20

$4,331,347 1,771,665 Flow Through units at $1.35

Summer 2011 Raise(non brokered) 7,644,259 Units at $1.05

$12,532,845 4,005,665 Flow Through shares at $1.125(1) $2,038,000 in senior unsecured convertible debentures is convertible into shares at ½ of the price ascribed to a Tamaka share at the time of a liquidity transaction. 10% annual coupon, with 50% PIK option.

Notes

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Notes

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For further information, please contact:

Howard Katz President & CEO Akiva Aronson Director, IR & Business Development

Email: [email protected] Email: [email protected]

Phone: 416.583.5242 Phone: 416.583.5245

401 Bay Street, Suite 2702, Box 48, Toronto, ON, M5H 2Y4

February 2015

Tamaka presentation February 3 2015

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Transcript of Tamaka presentation February 3 2015