WESTERN ATLAS RESOURCES...Miguel de la Campa – Director Jose Francisco Arata – Director Victor...
Transcript of WESTERN ATLAS RESOURCES...Miguel de la Campa – Director Jose Francisco Arata – Director Victor...
WESTERN ATLASRESOURCES
Focused on the Exploration and Development of Scalable Precious and Base Metals Projects
in Premier Mining Jurisdictions
Corporate PresentationMay 2021
Disclaimer Western Atlas Resources
This presentation contains “forward-looking statements” and “forward looking information” (as defined under applicable securitieslaws), including but not limited to, statements with respect to the Company’s current and future projects, plans and operatingperformance, including in respect of the growth potential of the Western Atlas’ Projects, the success of exploration activities, futurecapital expenditures, future financing sources. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts” and “anticipates”. Forward-looking statements andinformation, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may causeactual results to be materially different from those expressed or implied by such forward-looking statements, including but notlimited to: risks related to the completion of any acquisitions, risks related to the successful integration of any acquisitions; risksrelated to international operations; risks related to general economic conditions and credit availability, actual results of currentexploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined;fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of miningconsumables, accidents and labour disputes, title disputes, claims and limitations on insurance coverage and other risks of themining industry; changes in national and local government regulation of mining operations, tax rules and regulations, and politicaland economic developments in countries in which Western Atlas Resources operates. Although Western Atlas Resources hasattempted to identify important factors that could cause actual results to differ materially from those contained in forward-lookingstatements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be noassurance that such statements will prove to be accurate, as actual results and future events could differ materially from thoseanticipated in such statements. The forward-looking statements and forward-looking information are made as of the relevant dateand Western Atlas Resources disclaims any obligation to update any such factors or to publicly announce the result of any revisionsto any of the forward-looking statements or forward-looking information contained in this presentation to reflect future results.Accordingly, readers should not place undue reliance on forward-looking statements and information.
Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare an independent Technical Reporton the Meadowbank Area Project held by Western Atlas, located in Nunavut Territory, Canada. This Technical Report conforms toNI 43-101 Standards of Disclosure for Mineral Projects. RPA visited the property on July 25, 2017. This report, titled “TechnicalReport on the Meadowbank Area Project, Nunavut Territory, Canada”, and dated September 13, 2017 was prepared and signed byPaul Chamois M.Sc., P.Geo., Principal Geologist at RPA and a “qualified person” as defined in NI 43-101 independent of theCompany. He has prepared or supervised the preparation of the technical information upon which portions of this presentation arebased. Unless otherwise stated, scientific and technical information concerning the Western Atlas’ Projects, is summarized, derived,or extracted from the Technical Report, which is available for review on the Company's website at www.westernar.com.
2
Targeting Large, High Value Deposits and Accretive Acquisitions
3
Long Term Growth Strategy Western Atlas Resources
Meadowbank Gold Project, Nunavut, Canada• District scale property holdings in a top tier jurisdiction providespotential for multiple discoveries
• Strategically located - adjacent and along trend to AgnicoEagle’s Amaruq and Meadowbank Gold Producing Mines andGreyhound Project
• Fully permitted for exploration
Significant Exploration Upside Potential• Completed initial diamond drill program - Identified NearSurface, Broad intersects of Nickel, Cobalt, Chromium andanomalous values for gold, silver
• Drill tested only 1 of the 6 prospective and undrilled targetareas so far identified
• Future drill programs will target potential higher-grade preciousand base metals mineralization at Meadowbank project
Recently acquired by Agnico Eagle
Serafino Iacono – Chairman
Fabio Capponi – CEO, Director
Lombardo Paredes – Director
Miguel de la Campa – Director
Jose Francisco Arata – Director
Victor Torres - Senior Exploration Geologist - Geological Engineer
Susan Rubin – CFO & Corporate Secretary, CPA, CA
David Laing - Corporate Development and Technical Advisor
Multidecade combined experience and successful track-record in both natural resources and capital market industries
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Directors and Management Western Atlas Resources
Listing TSXV: WA
Shares Outstanding 116,078,398
Options 7,797,500
Warrants 40,641,843
Fully Diluted 164,517,741
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Capital Structure Western Atlas Resources
• Backed by Gran Colombia Gold, the largest goldand silver underground producer in Colombia
• Management and Directors own approx. 25% of theI/O shares - Shares were acquired in each financingrounds and on the secondary market
• Western Atlas’ CEO and the Chairman are thelargest individual shareholders
Options: @$0.10 - $0.32, wavg. expiry date 1.3 yearsWarrants: @$0.15 - $0.20, wavg. expiry date 1.1 years
Management & Directors
24.8%
Retail46.8%
Institutional2.6%
Gran Colombia Gold
25.8%
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Nunavut – Open for New Discoveries Western Atlas Resources
High Potential for New Discoveries near Existing Deposits and Regionally
• Pro-mining jurisdiction with over 4 decades of prosperity in mining• District scale opportunities provide potential for multiple discoveries• Nunavut is home to world class mining companies and multi-million-ounce deposits - Over 13M oz/Au in P+P reserves,15M oz/Au in M+I resources and 9M oz/Au in Inferred resources
Note: Reserves and Resources data derived from Companies respective website (*) Meadowbank Complex includes the Meadowbank and Amaruq gold mines. (**) Mineral resources areinclusive of mineral reserves
3.3
4.1
3.6
2.5
1.2
2.8
4.8
5.3
0.5
1.5
2.6
1.61.9
0.7
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Agnico EagleMeadowbank Complex*
Agnico EagleMeliadine Mine
TMAC ResourcesHope Bay Project**
Sabina Gold and SilverBack River Project **
Fury Gold MinesThree Bluffs Deposit
Mill
ion
oz/A
u
NunavutReserves and Resoruces
Proven and ProbableMeasured and IndicatedInferred
Recently acquired by Agnico Eagle
Baker Lake
600000 625000
625000
650000
650000
675000
675000
7125
000
7150
000
7150
000
7175
000
7175
000
7200
000
7200
000
7225
000
7225
000
7250
000
7250
000
7275
000
7275
000
575000
0 2010
Km
Agnico's Amaruq Producing Gold Mine
Agnico's Meadowbank Producing Gold mine
Western Atlas Block A
Western Atlas Block C
Drogo
V Zones
Whale Tail
Parallel Trend
Portage
Goose
Vault
Galena
Target A3Hippo
Long Root
Grizzly
Target B2
Target B1Greyhound
Target C1
Target A2
Western Atlas Block B
Target A1
Target B3
Target C2
¯
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600000575000
Agnico’s Deposit
IOL Subsurface Agreements
Archean Rocks - Greenstone beltRoadWestern Atlas Resources Properties
Agnico Eagle Properties
Aura Resources PropertiesInuit Owner Lands (IOL)
Agnico’s Target
District Scale Holdings - Fully Permitted• 580 km2 of highly prospective mineral claims in Nunavut,Canada
• 100% owned - no third-party options or royalties• Fully Permitted for explorationStrategically Positioned• Adjacent to Agnico’s Meadowbank and Amaruq goldproducing mines
• Proximity to Agnico’s Meadowbank mine facilities andprocessing plant
Excellent Infrastructure - Serviced Year Round• Year-round airport and local modern facilities. Baker Lakeis a hub of mining activity and provides fall and summershipping access via Hudson Bay
• Agnico’s 110km all-weather road crosses throughWestern Atlas’ blocks and connects Baker Lake to theMeadowbank and Amaruq mines
Multiple Targets - Significant Upside Potential• Completed Initial drill program - Block B, Target B1 - Firstdrill program ever on Western Atlas properties
• Multiple highly prospective and undrilled target areasoffer significant exploration upside potential
• Multiyear exploration/drill program to test several goldand base metals bearing targets within Blocks A, B and C
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Meadowbank Project – Strategically Positioned Western Atlas Resources
Previous Exploration Programü NI43-101 Technical Reportsü Detailed field mapping and sampling programü Over 3,800 km of airborne magnetic surveyü Over 1,500 line-km of helicopter-borne VTEM followed by electromagnetic anomaly picking (EM) and AIIP processing reportü Over 32 line-km of ground IP survey over specific targets located in Block B
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Meadowbank Project – Exploration Western Atlas Resources
Exploration programs have highlighted geological formations such as BIF and Shear Zones with astrike length in the order of kilometers• The geological and structural framework as it relates to gold mineralization in the area is well understood and generallyassociated with Banded Iron Formation (BIF) and Shear Zones
• Exploration results suggest multiple targets with kilometres strike length located within a favourable Archean greenstone beltgeological environment with known iron formation and shear zones hosted gold mineralization
• Similar geological settings can be found at Agnico Eagle’s neighboring Meadowbank and Amaruq producing gold mines andGreyhound project
Systematic exploration has defined numerous drill targets - Several of these targets have yielded gold values of up to 13.30 g/t Au and up to 44.7 g/t Ag
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Block B, Target B1– Initial Drill Program Western Atlas Resources
• Located south of Agnico Eagle’s Meadowbank mine and contiguous to Agnico Eagle’s Greyhound project• First drill program ever on these properties - 13 drill holes for a total of 3,545 meters - Target B1 is only one of six targets forfollow up with drilling so far identified within Blocks A and B
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Initial Drill Program Highlights Western Atlas Resources
Geological Settings Favourable for the Development of Orogenic Gold Deposits in the AreaThe Drill Program Intersected Broad, Near Surface Nickel, Cobalt, Chromium Mineralization
and anomalous values for Gold and Silver
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Initial Drill Program Highlights Western Atlas Resources
Iron Formation and Shear Zone hosted Gold Mineralization Over 8km Ultramafic Corridor hosted Nickel, Cobalt and Chromium Mineralization
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632000
6320
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636000
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7230000 7230000
7232000 7232000
7234000 7234000
7236000 7236000
7238000 7238000
7240000 7240000
LEGENDBlock A
Drill Target Areas
Road
Magnetic Lines
Rock SamplesAu_g_t
<0.015
0.015 - 0.050
0.051 - 0.100
0.101 - 1.000
1.001 - 2.500
>2.500
Structures
Fault
Shear Zone
Geology
BIF: Banded Iron Formation (+/-Au)
3.74
4.10
0.10
0.35
0.15
0.13
0.96
0.29
Au g/t
Agnico Eagle
Agnico Eagle
Agn
ico
Eagl
e
Target A3
Target A1
Target A2
0 1 2
Kilometers
Western Atlas Resources Inc.
Nunavut Territory, Canada
BLOCK ADrill Target Areas
Meadowbank Area Project
Located between Agnico’s Meadowbank and Amaruq Gold MinesHighly prospective and undrilled target areas provide for exploration upside potential
12
Block A, Drill Targets A1 to A3 Western Atlas Resources
626000
6260
00
628000
6280
00
630000
6300
00
632000
6320
00
634000
6340
00
636000
6360
00
7230000 7230000
7232000 7232000
7234000 7234000
7236000 7236000
7238000 7238000
7240000 7240000
LEGENDBlock A
Drill Target Areas
Road
StructuresFault
Shear Zone
Rock SamplesAu_g_t
<0.015
0.015 - 0.050
0.051 - 0.100
0.101 - 1.000
1.001 - 2.500
>2.500
OutcropsBIF
FVOL
UMVOL
MVOL
SLT
QZTE
GRT
GeologyCOVER
BIF: Banded Iron Formation (+/-Au)
FVOL: Felsic Volcanic
UMVOL: Ultramafic Volcanic
MVOL: Mafic Volcanic
SLT: Slate/Shale
QZTE: Quartzite
GRT: Granite
0 1 2
Kilometers
3.74
4.10
0.10
0.35
0.15
0.13
0.96
0.29
Au g/t
Agnico Eagle
Agnico Eagle
Agn
ico
Eagl
e
Target A3
Target A1
Target A2
Western Atlas Resources Inc.
Nunavut Territory, Canada
BLOCK ADrill Target Areas & Local Geology
Meadowbank Area Project
13
Block B, Drill Target B2 and B3 Western Atlas Resources
Located South of Agnico’s Meadowbank Formerly Producing Gold MinesDrill Program to target BIF and Shear Zones w/total strike length of 3km and 2km respectively
286
220
764
0 200 400 600 800 1000 1200
TMAC
Fury
Sabina
Agnico
Market Capitalization($ million)
14
Strong Upside Potential Western Atlas Resources
Well positioned to deliver the greatest upside potential through a discoveryWestern Atlas Resources - Newest Company and Lowest Mkt Cap among its Nunavut Peer Group
$19 BnNunavut: Meadowbank Complex (Meadowbank and Amaruq), Meliadine and Hope Bay Gold Mines
Nunavut: Back River Gold Project, Hackett River Project (sold to Glencore)
Nunavut: Hope Bay Gold Mine - Recently acquired by Agnico Eagle
Nunavut: Committee Bay & Gibson MacQuoid Gold Projects
15
People and Environment Western Atlas Resources
Priorities: Safety, Harmony and Respect• We are committed to the safety and well-being of all ouremployees, of the Nunavut community and of allcommunities in which the Company operates
• We support local communities and businesses - Inuit andlocal personnel and businesses are contracted for theCompany’s exploration program for mining services andlogistics, wildlife management, food and accommodation,aircraft, cargo and general services
• We work together with the Baker Lake Hunters and TrappersOrganization for the operation of Wildlife and Environmentalmonitoring Official wildlife management representative from the Baker Lake
Hunters and Trappers Organization
Wildlife monitoring - Caribou migration North of Baker Lake Baker Lake contractors - Geophysics Survey
16
Projects Pipeline - Lo Increible Project Western Atlas Resources
Lo Increible Gold Project, Bolivar State, Venezuela• October 2019 - Signed share purchase agreement to acquire mining rights to the Lo Increible Project• Historical Resources (*): 940k oz/Au in M+I resources and 90k oz/Au in Inferred resources• Two adjacent concessions covering a total of 2,217 Ha• Immediately North of and adjacent to Crystallex’s La Victoria prospect and 3 km North of the town of El CallaoFor more information about this project please refer to company’s disclaimer and information available at www.westernar.com
Note (*) - Disclosure of Historical Resource Estimate - Western Atlas considers the most recent resource estimate which was reported by SRK Consulting (UK) Ltd in 2009 for the Increible Project to be relevant andreliable, but notes that it is a “historical estimate” as defined in NI 43-101 of the Canadian Securities Administrators. Western Atlas further notes that: The historical resource estimate was prepared 11 years ago. Themost recent site visit by the author of the technical report described in this news release was in 2008, and therefore the estimates it contains are not current. The historical resource estimate uses the CIM Definitions inplace at the time it was produced. The economics of exploiting the resource will have changed since the historical resource estimate was prepared. Ownership of the Increible Project is currently no longer with MedoroResources Ltd. (which merged with Gran Colombia in 2011), but with Gran Colombia’s subsidiary Medoro. No Qualified Person (as defined in NI 43-101) has done sufficient work to classify this as a “current mineralresource” and Western Atlas is not treating the historical mineral resource estimate as a current mineral resource estimate. For the estimate to be reported as a current resource estimate, there would need to be a sitevisit by a Qualified Person, further pit optimization and other work would need to be undertaken to confirm that the mineralization still has reasonable prospects to be mined, and ownership of the concession would alsoneed to be confirmed.
Meadowbank Project• District scale holdings - Potential for multiple discoveries• Strategically located - Adjacent to Agnico Eagle’s Meadowbank and Amaruq producinggold mines
• Fully permitted for exploration• Excellent infrastructure - serviced year-round
Management and Directors with proven ability to deliver long term value• Own approx. 25% of the I/O shares• The CEO and the Chairman are currently the largest individual shareholders
Strong Upside Potential• Completed 2020 diamond drill program testing target B1 within Block B• Multiple highly prospective and undrilled target areas offer significant exploration upsidepotential
• Newest company and lowest market cap among its Nunavut peer group - Well positionedto deliver the greatest upside potential through discovery
Long Term Strategy• Multiyear exploration and drill program to test several gold and base metals bearingtargets within Blocks A, B and C
• Leveraging on a broad range of business experience and technical skills to build a projectpipeline that provides long term value to the shareholders:
• JV and acquisition of new assets with historic data (e.g. Lo Increible GoldProject) and early-stage projects (value-added through the drill-bit)
• Development and monetization of assets 17
The Opportunity Western Atlas Resources
Western Atlas Resources
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Appendix
Multidecade combined experience and successful track-record in both the natural resources and the capital market industries
Serafino Iacono – Chairman• 30+ years of experience in financing and developing of oil, mining and other resource
projects in Latin America, the United States and Europe. Raised more than $5 billionfor numerous natural resource projects
• Co-founder, CEO and Director of Caldas Gold, Co-founder and Ex. Chairman of GranColombia Gold, co-founder of Medoro Resources Ltd., and Bolivar Gold Corp. (sold toGold Fields), co-founder and fmr. Executive Chairman of Pacific Rubiales EnergyCorp. (now Frontera Energy Corporation)
Fabio Capponi – CEO, Director• 14+ years of experience and successful track-record in creating, structuring and
selling natural resources companies in Europe and both North and Latin America• Co-Founder and CEO, Director of CB Gold Inc. (sold in Dec. 2015). Previously with
Endeavour Financial, has held Director and Management positions with privatecompanies
Lombardo Paredes – Director• Chief Executive Office of Gran Colombia Gold and Director of Caldas Gold - 20+
years of experience of corporate leadership and operations management experiencein the resource sector in Latin America
• Mr. Paredes held several roles with within Petroleos de Venezuela (PDVSA).Managing Director and a Board Member of Maraven S.A. (an affiliate of PDVSA), withresponsibility for the construction and commissioning of the Cardon RefineryConversion Project in Venezuela, a US$2.6 billion project
• Bachelor of Science degree in Mechanical Engineering and Master of EconomicAnalysis and Financial Economics degrees
Jose Francisco Arata - Director• 30+ years of experience in exploration, development and production of mineral and
hydrocarbons projects in Latin America• Co-founder of Medoro Resources Ltd., Bolivar Gold Corp., Co-founder and fmr.
President of Pacific Rubiales Energy Corp., fmr. Director of Gran Colombia Gold• Degree in Geology from the University of Turin, Italy and a Degree in Geological
Engineering from the Central University of Venezuela 19
Miguel de la Campa - Director• 30+ years of experience in financing and development of mining, oil and other
resource projects in the United States, Latin America, Europe and Africa• Co-founder and Director of Caldas Gold, Vice Chairman of Gran Colombia
Gold, Fmr. Ex. Co-Chairman of Pacific Exploration & Production Corp., co-founder of Bolivar Gold Corp., Director of Petromagdalena Energy Corp. andco-founder of Pacific Stratus Energy
Victor Torres - Senior Exploration Geologist - Geological Engineer• 15+ years of experience in mining exploration and project development• Fmr. Chief Project Geologist with CB Gold Inc. (sold in Dec 2015). Previously
project geologist with Teck Cominco, Placer Dome, Antofagasta Minerals andproduction geologist for Centromin Peru
• BSc. in Geological Engineering from the Universidad Nacional Mayor de SanMarcos of Lima, Peru and is member of the Peruvian Engineers Association(CIP)
Susan Rubin – Chief Financial Officer & Corporate Secretary, CPA, CA• 20+ years of experience in the junior mining exploration sector and the high-
tech sector• Fmr. CFO of CB Gold Inc. (sold in Dec 2015), Ventana Gold Corp., and
Wildcat Silver Corp.
David Laing - Corporate Development and Technical Advisor• Mining engineer with an extensive experience in the mining and banking
industries – Fmr. COO of Equinox gold - Fmr. COO of True Gold Mining -Fmr. Executive VP of Quintana Resources Capital and one of the originalexecutives of Endeavour Mining
• Director of several publicly listed companies including Fortuna Silver Minesand Sandspring Resources
Directors and Management Western Atlas Resources
Western Atlas Resources Inc.
(TSX-V: WA)
1700 - 666 Burrard StreetVancouver, BC V6C 2X8, Canada
Phone +1 604 256 4777 - Email: [email protected]
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