Eastmain Resources Inc. · Certain information set forth in this presentation may contain...

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Eastmain Resources Inc. An Exciting Evolution EASTMAIN 52 o 37’ 06” N 72 o 05’ 19” W 75 o 57’ 20” W 52 o 18’ 01” N 75 o 48’ 52” W 52 o 13’ 01” N TSX: ER

Transcript of Eastmain Resources Inc. · Certain information set forth in this presentation may contain...

Page 1: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

Eastmain Resources Inc.

An Exciting Evolution

EASTMAIN

52o 37’ 06” N 72o 05’ 19” W 75o 57’ 20” W 52o 18’ 01” N 75o 48’ 52” W 52o 13’ 01” N

TSX: ER

Page 2: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Forward Looking Statements

Certain information set forth in this presentation may contain forward-looking statements that involve substantial

known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely

historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but

not limited to, statements with respect to any potential director nominations, actions taken in respect of director

nominations received by Eastmain, actual results of current and future exploration activities at the Company's

properties, and the potential success of the Company’s future exploration and development strategies. These

forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the

control of Eastmain, including, but not limited to he results of matters to be considered at the upcoming annual

and special meeting of shareholders of Eastmain, the impact of general economic conditions, industry conditions,

dependence upon regulatory approvals, the availability of financing, ‎timely completion of proposed studies and

technical reports, and risks associated with the exploration, development and mining industry generally such as

economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and

security, political, social or economic developments, environmental risks, insurance risks, capital expenditures,

operating or technical difficulties in connection with development activities, personnel relations, the speculative

nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral

Resources, contests over property title, and changes in project parameters as plans continue to be refined.

Readers are cautioned that the assumptions used in the preparation of such information, although considered

reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be

placed on forward-looking statements. The Company assumes no obligation to update such information, except

as may be required by law.

Page 3: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Flagship Clearwater Project in Québec

Eau Claire – high-grade gold deposit

Royalty-free, with exploration upside

Extensive portfolio including two high-grade gold deposits and a JV project with Goldcorp near its existing Éléonore Mine

Enhanced financial strength to support growth objectives

Rejuvenated Board of Directors

Eastmain Company Overview

Page 4: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Investments and Partnership

Key Components

A $6 million investment by Integra Gold Corp as a private placement (9.9% ownership in ER, max at 15% and min at 5%)

Access to Integra’s resource development technical expertise

Additional flow-through financing

Integra Gold Corp Relationship

Successful, Québec-based exploration and development Company

Currently developing its Lamaque South gold project in the prolific Val d’Or camp, which has comparable characteristics to Eau Claire

Established joint technical committee

Strengthened Financial Position

Total investment of approximately $11.13 million

Recent flow-through private placement raised ~$5 million

$6 million Integra financing to be completed soon

One of the strongest balance sheets in the industry

Sufficient funds for 2016 exploration and project advancement

Note: for more detail, see the release titled “Eastmain Resources Announces Strategic Investment by Integra Gold – Additional Financing, Management Changes and Director Nominees” – dated April 8, 2016

Page 5: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Evolution of Management and the Board

Ongoing Evolution of the Board

Three current Directors

• Claude F. Lemasson, P.Eng, MBA – New CEO & President (Interim)

• Laurence (Laurie) Curtis, Ph.D., P.Geo – Current Chairman

• Michael L. Hoffman, P.Eng. – Mine engineer and executive

Two new independent Directors

• Blair Schultz – Capital markets experience

• Timo Jauristo – Geologist, ex-Goldcorp executive (Corporate Development)

Two new independent Directors from Integra

• Stephen De Jong – President and CEO of Integra Gold

• George Salamis – Chairman of the Board of Integra Gold

Strengthening Management Team

New CEO & President (Interim), Claude F. Lemasson, P.Eng, MBA

• Highly skilled mining professional

• 30 years of mine development and operational experience

• Direct experience with Goldcorp’s Éléonore project in northern Québec

• A member of the Eastmain Board of Directors since November 2015

Dr. Donald J. Robinson, Cathy I. Butella and James Bezeau will assume new roles as advisors to the Company to ensure knowledge transfer and continuity

Page 6: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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President & CEO (Interim)

Key priorities

Drive overall strategy Set and maintain a mission and vision for the Company

Lead the strategic direction of the Company

Optimize financial performance Determine the Company’s financial direction, goals, and results

Work closely with CFO to make good capital allocation decisions and implement financial systems

Lead a capital-raising team to finance expansion or other necessary activities

Foster strong stakeholder relationships Set the cultural tone of the Company

Attract and retain the best talent

Maintain strong, respectful relationships with local communities

Be the face of the Company Lead the Company’s marketing, public and investor relations and community outreach efforts

Page 7: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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JAMES BAY REGION

Clearwater Project (Eau Claire Deposit)

Eastmain Mine

Éléonore Project

(Goldcorp)

50 km

JAMES BAY, QUÉBEC – An Emerging Mining District

RK

LE

LG LH

ES

LL

RD

RS

Eastmain

James

Bay

Nemaska

Radisson/LG2

Route 167 Nord

Newly Constructed

Stornoway Renard Deposit

Mistissini

RH

Superior Infrastructure – Top Jurisdiction

QUÉBEC

Map Area

RH

Hydro

Installation

Clearwater

Eastmain Mine

ES – Éléonore South

LE – Lac Elmer

LG – Lidge

LL – Lac Lessard

LH – Lac Hudson

RD – Radisson

RK – Road King

RS – Reservoir

RH – Ruby Hill

EM1 – Hydro Québec

Note: Clearwater is accessible via a commercial airport at Nemaska, located 80 kms south of the project. Route 167 Nord has been constructed from Temiscamie north to the Renard Project, providing permanent road access to the Eastmain Mine project.

Eastmain

Project EM-1

Temiscamie

EM-1

Page 8: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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High-Grade Discovery – Future Open Pit

Page 9: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Eau Claire Deposit

Game-changing discoveries at Eau Claire Deposit (2011 to 2013)

• Drill hole 303, in the 850 West Zone, intersected 9.05 g/t Au over 9.0 metres

• Hole 456, in the 450 West Zone, intersected10.97 g/t Au across 11.0 metres, respectively.

1.8 km-long footprint – 100 metres wide – to vertical depth of 900 metres

Since 2011: completed 111,500 of total 226,000 metres of drilling

SRK (Toronto) – updated NI 43-101 Mineral Resource Statement – late April 2015

• Technical Report filed in June 2015

• Mineral Resource Statement did not fully consider true mineability of the deposit

G Mining (Montreal) contracted in July 2015

• Following review of draft PEA in late 2015, G Mining and Eastmain identified several key opportunities for optimization that could significantly impact final PEA

Page 10: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Eau Claire High Grade Underground Potential

A B B

VG

VG VG

Page 11: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Eastmain Reservoir

Clearwater Project – Road & Power Accessible

Hydro-electric hook-up 15 km from Eau Claire deposit

Eastmain Reservoir

Eastmain River

EM-1 Turbines

Spillway

Eau Claire Gold Deposit

Base Camp

km

0 5

Hydro-Québec’s Eastmain 1 Hydro-electric Installation

N

Note: Hydro Québec’s Eastmain-1 powerhouse was commissioned in 2006. The Eastmain Reservoir covers approximately 600 km2 and flows into the Opinaca Reservoir. The Eau Claire Gold deposit is accessible by the permanent EM-1 Road. Fuel and accommodation is available at the EM-1 Base Camp. An equipment and fuel depot is accessible by transport via the Spillway. Hydroelectric power for Goldcorp’s Éléonore project is provided by EM-1.

Clearwater Property

Mine-ready infrastructure in place.

Depot

Page 12: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Five key opportunities identified to date

1. Strategic drilling on key targets areas

2. Environmental work

3. Underground mine plan optimization

4. Mine infrastructure optimization

5. Underground ramp development and exploration

Page 13: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Clear Focus on Eau Claire

Strategic investments and partnership are a natural evolution for the Company

Pursuing unique opportunities including:

• Excellent potential exists to increase resources and improve quality through drilling

• Underground ramp and exploration will provide further insights into 3D continuity of the resource, verify modelled resource grades and cut factors, as well as metallurgical recoveries

• Additional environmental work is required on the waste (acid rock drainage), which may affect the ultimate size of the open pit

• Additional underground mine plan optimization work is required

• Additional optimization work on mine infrastructure is required

All the above work should be completed before proceeding with further assessments and study work.

Page 14: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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The Way Forward – Pressing the Reset Button

Priorities Q2 16 Q3 16 Q4 16

Define detailed strategic plan

Work on knowledge transfer and continuity

Perform geological & technical deposit reviews

Strengthen and align senior management

Complete comprehensive drill campaign

Perform other technical optimization work

Issue updated resource estimate

Optimize and complete PEA and study work

2017 …

Calendar year

Page 15: Eastmain Resources Inc. · Certain information set forth in this presentation may contain forward-looking statements that involve substantial ... Sufficient funds for 2016 exploration

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Thank you for supporting

Eastmain Resources

through this

Exciting Evolution!