Wallbridge Mining Company (TSX: WM) - April 2014

Pla$num Group Elements, Copper and Nickel in Sudbury, Ontario

Canada’s Premier Mining District

April 2014

CAUTIONARY STATEMENT

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No regulatory authority has approved or disapproved the informaAon contained in this presentaAon.

This presentaAon includes certain statements that may be deemed “forward-‐looking statements”. All statements in this presentaAon, other than statements of historical fact, that address future producAon, reserve potenAal, exploraAon drilling, exploitaAon acAviAes and events or developments that the Company expects, are forward-‐looking statements. Although the Company believes the expectaAons expressed in such forward-‐looking statements are based on reasonable assumpAons, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-‐looking statements. Factors that could cause actual results to differ materially from those in the forward-‐looking statements include market prices, exploitaAon and exploraAon successes, conAnued availability of capital and financing, general economic, market or business condiAons. Investors should be cauAous that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-‐looking statements.

The Company does not undertake to update or revise any forward-‐looking statements, whether as a result of new informaAon, future events or otherwise, save and except as may be required by applicable securiAes laws.

WALLBRIDGE STRATEGY

•  Maximize the benefits of joint venture partnerships & Spinouts –  46 mineral projects from grassroots exploraAon to pre-‐feasibility stage –  11 joint ventures with Lonmin Plc, Impala, Xstrata Nickel and others –  Equity interests in Duluth Metals Limited (DM:TSX) and Miocene Metals Limited

(MII:TSV)

•  Concentrate on the best assets first –  ParAcular focus on Sudbury, Ontario –  PlaAnum, palladium, copper, nickel, gold projects in mining friendly jurisdicAons of

North America

•  Strengthen Corporate Social Responsibility Prac$ces to Sustain Explora$on and Development –  Signed Memorandum of Understanding with two First NaAons Groups in Sudbury,

Ontario –  Supporter of Community and local EducaAonal InsAtuAons’ IniAaAves

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WALLBRIDGE MINING: CORE ASSETS

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MANAGEMENT AND DIRECTORS

WARREN HOLMES •  Mining executive with +40 yrs. experience in

mining •  Vice chairman Atlanta Gold Inc., Director for

HudBay Minerals, Foraco International, Atlanta Gold

PARVIZ FARSANGI •  Mining Engineer with +25 yrs. experience •  Director for Miocene Metals, INV Metals,

Previously CEO of Scorpio Mining & COO with Vale

ROLAND HORST •  +35 yrs. experience as investment banker •  CEO of C Bay and Director of Victory Nickel

RENE GALIPEAU •  +30 yrs. experience in mining •  CEO of Victory nickel and Director of

Nuinsco Resources, Victory Nickel and KWG Resources

DARRYL SITTLER •  Former NHL player and 1989 Hall of Fame

inductee •  Director for Miocene Metals, Royal Nickel,

Frontline Gold

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ALAR SOEVER Executive Chairman and Director

•  Professional Geologist with +30 yrs. experience

•  Chairman Miocene Metals, Director for Duluth Metals

MARZ KORD President and CEO

•  Mining Engineer with +25 yrs. experience in mining

•  Previously EVP for Genivar Consultants, Falconbridge

MARY MONTGOMERY, CPA, CA CFO

•  She held senior positions with a number of companies associated with the mining industry in Sudbury

JOSHUA BAILEY Vice President Exploration

•  Professional Geologist with +15 yrs. experience

•  President of SPDA, Director for OPA and OEC

WALLBRIDGE SHAREHOLDERS

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10% 15%

10%

15%

50%

Sudbury High Net Worth Lonmin Plc Funds Insiders Others

PLATINUM GROUP ELEMENTS

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Why PGEs?

PLATINUM GROUP ELEMENTS

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•  Global Urbanisation •  Emissions Control Legislation

•  Infrastructure •  Political Risk, Wage Pressure

~900K Oz

~282K Oz

DISCOVERY UPSIDE IN SUDBURY

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Sudbury Deposits*: •  5-‐20 million tonnes •  1-‐20% copper •  1-‐5% nickel •  1-‐30 g/t PlaAnum + Palladium

+ Gold (*Ames, GSC, 2007)

•  Production since 1886 •  10 active mines •  2 active mills with

capacity •  2 active smelters •  Good mining culture •  Good infrastructure •  Skilled workforce

SUDBURY OPPORTUNITIES-‐ PGE

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Sudbury Deposit Types (Target Size and Grade)

FW - Massive Cu FW - Low Sulfide Offset Contact

2 - 10 Mt 2 - 10 Mt 2 - 10 Mt 15 - 20 Mt

7.7 g/t PGE + Au 7.3 % Cu 1.1 % Ni

>5 g/t PGE + Au 1.0 % Cu 0.3 % Ni

3.6 g/t PGE + Au 1.3 % Cu 1.8 % Ni

1 g/t PGE + Au 1.3 % Cu 2.7 % Ni

~1.6 Moz PGE ~1.4 Moz PGE ~1.5 Moz PGE ~600 Koz PGE

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19+ Moz PGEs in 20 years >15 deposits >120 Mt total tonnage

~4.8 g/t PGE + Au ~3.6 % Cu ~1.7 % Ni

>1 M oz Examples Resource Ni Cu Pt + Pd Pt + Pd Mt % % g/t Moz

1. Capre 9.0 ? ? ? ? 2. Victoria 14.5 2.5 2.5 7.6 3.5 3. McCreedy East FW 6.8 0.9 9.9 13.4 2.9 4. Nickel Rim South 13.0 1.4 3.1 4.3 1.8 5. Totten Mine 10.1 1.5 1.97 4.8 1.6 6. Kelly Lake 11.4 1.72 1.41 3.8 1.4 7. Victor Deep FW 6.16 1.9 6.2 6.7 1.3

SUDBURY OPPORTUNITIES-‐ RECENT DISCOVERIES

WALLBRIDGE SUDBURY PROJECTS

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•  46 Proper$es total

•  42 Proper$es in Sudbury

•  11 Joint Ventures with –  Impala –  Lonmin –  Xstrata Nickel –  Others

•  Discovery Upside

WALLBRIDGE’S SUDBURY OPPORTUNITIES

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Property Stage Ownership Comment Poten$al

Wisner-‐ Lonmin ProducAon, Drill Targets

WM, WM-‐Glencore, (Glencore opAon)

Broken Hammer Mine ProducAon. ExploraAon funded by Lonmin on

surrounding 10kms of prospecAve geology: Cu-‐PGE occurrences, geophysics targets,

drilling underway

Several targets with potenAal for 2-‐10Mt Cu-‐PGEs

above 1000 metres depth

POJV -‐ Implats Resource, Drill Targets

WM, Implats, CBA (Glencore opAon)

Parkin Resource and expansion potenAal, High grade Milnet 1500 Zone, High grade Brady Showing

3-‐5Mt resource expansion potenAal above 500 metres depth,

Enormous expansion potenAal to depth

East Range Occurrences, Drill Targets

WM, WM-‐Glencore (Glencore OpAon)

Amy Lake Occurrences, several conductors, strong exploraAon potenAal over +2kms

PotenAal for 2-‐10Mt Cu-‐PGEs above 1000 metres depth

SCJV -‐ Lonmin Drill Targets WM (Lonmin opAon)

Skynner Lake & Trill Lonmin Funding,

earn-‐in at Indicated Resource



NRJV -‐ Lonmin Drill targets WM (Lonmin opAon)

Currently funded by Lonmin, staged vesAng to 2016



Other Sudbury Geology WM Minimal annual maintenance Very early stage

BROKEN HAMMER OPEN PIT PROJECT

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METAL PRICE RECOVERY

CU $3.30 88.0%

NI $6.00 49.5%

PT $1,450 87.9%

PD $750 82.6%

AU $1,300 79.4%

AG $21.00 73.1%

CAD/US 1.08:1

FORECASTED REVENUE (‘000 CAD)

Copper $11,498

Nickel $ 0

Platinum $14,540

Palladium $ 6,378

Gold $ 3,769

Silver $ 469

Total Revenue $36,654

2014 RESERVE UPDATE (BASED ON NEW TERMS)

TONNES 194,650

CU 0.95 %

NI 0.10 %

PT 2.14 gpt

PD 1.95 gpt

AU 0.63 gpt

AG 6.68 gpt

The Qualified Person for the Broken Hammer updated reserve estimate is Mr. Marz Kord, P. Eng., President & CEO for Wallbridge. The updated Mineral Reserve estimate is based on updated economic inputs and does not represent a material difference from the previous Mineral Reserves estimated by RPA Inc.(see Press Release dated September 18, 2013).

open

FORECASTED COST (‘000 CAD)

Costs:

Mining incl. G&A $10,104

Crushing & Hauling $ 8,120

Processing $11,849

Royalties $ 744

Capital Expenditure $ 1,043

Total Costs $ 31,860

FORECASTED P&L (‘000 CAD)

Total Revenue $36,650

Total Cost incl. Capital $31,850

Profit before taxes $ 4,800

BROKEN HAMMER SCHEDULE

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•  Definitive Agreement for Milling with Northern Sun •  Smelting & Refining termsheet agreement •  Production Decision made •  Mining Contractor selected •  Line of Credit (Callinan) fully drawn ($2 million) Ore Delivery

To Mill

Construction Starts

Concentrate to Smelter

Payments from Smelters

Expected completion April 2015

WISNER JOINT VENTURE WITH LONMIN (PART OF NRJV)

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•  Signed December 2013 •  Lonmin may earn 50% after $6M cash & expenditures over three years •  Lonmin may earn additional 15% by funding to FS and securing WM CAPEX •  $2.0M funded by Lonmin Plc this year (Oct 2013 – Sept 2014 fiscal year) •  Drilling and geophysics underway

WISNER JOINT VENTURE – BROKEN HAMMER EXTENSION

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Planned infrastructure 2011 Bulk Sample

2013 Resource 2013 Pit Design

DDH Intersects Down-plunge Matrix IP

WISNER JOINT VENTURE – BROKEN HAMMER DEPTH

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SUDBURY CAMP JOINT VENTURE (SCJV) WITH LONMIN

Trill Showing •  140 m mineralized trend discovered in 2005 •  6.41 g/t Pt+Pd+Au, 0.79 % Cu and 1.20 % Ni over 10.3 metres in WTR 012 •  8.11 g/t Pt+Pd+Au, 1.01 % Cu and 0.81 % Ni over 8.76 metres in WTR-028

•  USD $1.6M funded by Lonmin Plc this year (Oct 2013 – Sept 2014 fiscal year) •  Drilling and Geophysics underway

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SUDBURY CAMP JOINT VENTURE (SCJV) WITH LONMIN

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QD

IQD IQD

QD

SDBX Brecciated GR GR

N

TPM Au Pt Pd Ag Cu Ni Sppm ppm ppm ppm ppm % % %

N984155 8.93 0.50 2.43 6.00 5.68 1.28 0.43 4.57 5.21 1.95N984160 2.49 0.33 0.82 1.35 11.30 1.75 0.41 7.54 1.16 0.33N984166 1.38 0.06 0.38 0.95 0.35 0.19 0.10 1.08 4.79 1.28N984159 0.90 0.05 0.27 0.58 1.69 0.14 0.07 2.21 4.28 0.41N984167 0.37 0.02 0.10 0.26 0.24 0.03 0.02 0.25 7.12 1.49N984168 0.15 0.01 0.04 0.10 0.49 0.08 0.07 0.75 0.94 0.20N984163 0.01 0.00 <0.005 0.00 0.14 0.02 0.00 0.36 0.28 0.01N984164 0.01 0.00 <0.005 0.00 0.20 0.03 0.01 0.70 0.19 0.01N984165 0.01 0.01 <0.005 0.01 0.67 0.07 0.01 1.74 0.13 0.01

TPM ppm / (Cu %+Ni %)

TPM ppm / (S %)

First grab/brick sample results taken from Trench # 2

Trill Trench # 2 exposing bend in Trill Offset with Ni-Cu-PGE mineralization

Technician for scale

•  Discovery, channel sampling and detailed mapping in late 2013

NORTH RANGE JOINT VENTURE (NRJV) WITH LONMIN

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•  Over 50 km strike length of Offset dykes

•  Only 28 short drill holes •  ~1 short hole per 13 km2

•  $1.5M funded by Lonmin Plc this year (Oct 2013 – Sept 2014 fiscal year)

•  Up to $8.8M Lonmin Plc funding to 2016

•  Drilling and geophysics underway

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PARKIN OFFSET JOINT VENTURE (POJV) WITH IMPALA PLATINUM

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•  Past Producing Milnet Mine, High grade Milnet 1500 Zone, Parkin Resource •  Parkin Resource 3-5 Mt expansion potential above 500m depth •  Enormous expansion potential to depth

WALLBRIDGE HIGHLIGHTS & PLANS

•  Broken Hammer construc$on Commences in April 2014

•  Broken Hammer ore delivery June 2014

•  Broken Hammer concentrate delivery to smelters July, 2014

•  Drilling and explora$on, Wisner JV with Lonmin 2014 Program Ongoing •  Drilling and explora$on, Sudbury Camp JV with Lonmin 2014 Program Ongoing

•  Drilling and explora$on, North Range JV with Lonmin 2014 Program Ongoing

•  Review, Drilling and Geophysics at the Parkin Offset JV Reduced 2014 Program underway •  Reviewing new opportuni$es to leverage assets for growth Ongoing

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WALLBRIDGE SPIN-‐OUT EQUITY INTERESTS

•  2005 Spin-‐out of Minnesota Projects

•  10.1 M shares (7.4%) DM:TSX –  ParAcipaAon right to 15.67% through

certain future issuances

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•  2010 Spin-out of BC Projects

•  28.4 M shares (40.5%) MII:TSX.V

Wallbridge currently owns 7.4% of Duluth Metals

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Duluth Metals Limited Spin-‐Out

Feb 2014 Updated Resource, contained metals

Metal Measured Resource

Indicated Resource

M&I Resource

Inferred Resource

Copper 3.7 billion lbs. 11.0 billion lbs. 14.7 billion lbs. 12.3 billion lbs.

Nickel 1.2 billion lbs. 3.5 billion lbs. 4.7 billion lbs. 4.2 billion lbs.

Platinum 1.3 million ozs. 4.5 million ozs. 5.8 million ozs. 3.6 million ozs.**

Palladium 3.0 million ozs. 10.2 million ozs.

13.2 million ozs. 8.0 million ozs.**

Gold 0.7 million ozs. 2.5 million ozs. 3.2 million ozs. 1.8 million ozs.**

•  Significant Value Driver for Wallbridge Shareholders

•  Twin Metals Minnesota (TMM) JV with Antofagasta Plc –  The world’s largest undeveloped Cu-‐Ni-‐PGE deposit outside of South Africa –  Joint Venture with Antofagasta Plc who would earn 40% of the project by compleAng the Bankable Feasibility Study.

At BFS, Antofagasta may earn an addiAonal 25% by paying DM 25% of NPV calculated at 10% discount

•  Duluth Metals Upside –  Feasibility Study results expected in H1, 2014 –  ExploraAon potenAal in 37,000 acres of exploraAon interests outside of Twin Metals spin-‐out –  Discovery of two new mineralized zones in January 2013 on Duluth’s 100% owned properAes

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Duluth Metals Limited Spin-‐Out

MIOCENE METALS LIMITED SPIN-‐OUT

•  August 2011 IPO: MII:TSX.V –  Future value driver for Wallbridge

•  Porphyry Cu-‐Au-‐Mo projects in SW BC –  Rogers Creek and MacKenzie: Cu, Au –  Salal: Moly

•  Miocene age Cascade Magma$c Arc –  Similar to copper-‐gold belts in Chile, Peru, USA, Indonesia and Papua

New Guinea (e.g., El Teniente, Chuquicamata, Grasberg, Bingham Canyon)

•  Excellent infrastructure in Bri$sh Columbia

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MIOCENE-‐CARUBE RESOURCES PROPOSED MERGER (2013-‐2014)

•  Porphyry Cu-‐Au projects in Jamaica

•  Joint Venture Partnership with Oz Minerals $6.5M expenditure to earn 70%. Addi$onal $6.5M on each of three other proper$es

•  Excellent infrastructure in Jamaica

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MIOCENE-‐CARUBE BELLAS GATE PROJECT (JAMAICA)

Kola

Bull Snap

Connors

Ginger Ridge

Camel Hill

Mab Geo

THE WALLBRIDGE OPPORTUNITY

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•  Exposure to a basket of high demand commodi$es in North America

–  Copper –  PlaAnum, Palladium –  Gold –  Molybdenum –  Nickel

•  Immediate discovery upside in Sudbury

•  Exposure to underlying value and growth poten$al in Duluth Metals

•  Blue-‐sky poten$al with Miocene Metals

FOR FURTHER INFORMATION Joshua Bailey, VP ExploraAon 705-‐682-‐9297, ext. 240 [email protected] Linda Zubal, VP, Corporate CommunicaAons 705-‐682-‐9297, ext. 263 [email protected]

Wallbridge Mining Company (TSX: WM) - April 2014

Investor Relations

Transcript of Wallbridge Mining Company (TSX: WM) - April 2014