Eastmain Resources Inc. · Certain information set forth in this presentation may contain...
Transcript of Eastmain Resources Inc. · Certain information set forth in this presentation may contain...
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
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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.
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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
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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
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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
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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
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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
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High-Grade Discovery – Future Open Pit
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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
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Eau Claire High Grade Underground Potential
A B B
VG
VG VG
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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
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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
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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.
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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
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Thank you for supporting
Eastmain Resources
through this
Exciting Evolution!