LEADING EXPLORATION IN JAMES BAY - Eastmain Resources Inc. › _resources › ER - EGF Presentation...

LEADING

EXPLORATION IN

JAMES BAY

EASTMAIN RESOURCES INC. ER:TSX

CORPORATE PRESENTATION | EUROPEAN GOLD FORUM APRIL 2017

FORWARD LOOKINGSTATEMENTS

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.

EASTMAININVESTORPRESENTATIONER:TSXwww.Eastmain.com2

EASTMAIN RESOURCES

3 KEY PROJECTS WITH RESOURCE GROWTH POTENTIAL

CLEARWATER PROJECT Open-pit and underground potential at Eau Claire

EASTMAIN MINE PROJECT A past-producer with historic resources, growth potential and a new discovery

ÉLÉONORE SOUTH JV 4 km x 0.5 km prospective mineralized corridor

AGGRESSIVE EXPLORATION5 active rigs

Completing 75 km drilling program

TOP LAND POSITION1,320 sq km of prospective land

Ready infrastructure

Strategically staked claims

Archean greenstone belt


MOST ACTIVE JUNIOR IN JAMES BAY GOLD CAMP, QUEBEC

CASH & MARKETABLE SECURITIES(March 28, 2017)

C$9.1 M

EASTMAIN FOCUS SYSTEMATICALLY ADVANCING KEY ASSETS


Clearwater: Eau Claire Deposit mineral resource update - mid-year

Clearwater: Eau Claire DepositPreliminary Economic Assessment - year-end

BUDGET TO MID-2017 (INCL. G&A)

C$1.6 M

Eastmain Mine Project mineral resource update - year-end

TOP SHAREHOLDERS

Polygon 17.1 million 9.7%

Goldcorp 10.5 million 6.0%

Integra Gold 8.9 million 5.1%

RBC Asset Management 7.7 million 4.4%

Van Eck 7.5 million 4.3%

Gabelli & Company 3.6 million 2.0%

Konwave Gold 2000 2.8 million 1.7%

Don Robinson 2.7 million 1.6%

Mackenzie Investments 2.6 million 1.5%

Caisse du Depot (Sodémex) 2.6 million 1.5%

US Global 2.0 million 1.1%

Industrial Alliance Inv Mgmt 1.5 million 0.9%

AGF 1.6 million 0.9%

Commodity Discovery Fund 1.5 million 0.9%

Sentry 1.3 million 0.7%

EASTMAIN SHAREHOLDERSTSX:ER – 37% INSTITUTIONALLY HELD, 2% INSIDERS (SINCE APRIL 2015)


CAPITAL STRUCTURE

Shares outstanding 175,429,814

Options (W Avg Life – 5.4 yrs, $0.69) 9,188,605

Warrants (expiry 11/10/18 , $0.50) 6,899,999

Fully-Diluted 193,133,417

Market Capitalization (20-day VWAP) $93 million

Share Price (20-day VWAP) $0.53

52 Week High/Low $0.97 - $0.29

Daily Average Volume (20-day avg) 670,641

ANALYST COVERAGE

Beacon Securities Mike Bandrowski

Cormark Securities Tyron Breytenbach

Echelon Wealth Ryan Walker

GMP Securities Ingrid Rico

Laurentian Securities Barry Allan/Ryan Hanley

Mackie Research Capital

Macquarie Capital Michael Gray

Paradigm Capital Don Blyth

BOARD AND MANAGEMENTSTRENGTH IN ENGINEERING, GEOLOGY & CAPITAL MARKETS

Claude LemassonPresident & CEO and DirectorLaurence (Laurie) CurtisChairmanMichael HoffmanMine Engineer & ExecutiveBlair Schultz Capital markets experience

WELL-ESTABLISHED BOARD OF DIRECTORS

Timo JauristoGeologist, ex-Goldcorp Corp Dev Exec Stephen De Jong Integra President & CEOGeorge Salamis Integra Chairman

INTEGRA TECHNICAL ADVISORS

Previous experience with Management, the Éléonore Project (Goldcorp), & in the James Bay region

Hervé Thiboutot, Geological EngineerIntegra Senior VP

Jacques Simoneau, P.Geo.Integra Exploration Manager

Claude Lemasson, P.Eng, MBA President & CEO • Highly-skilled mining professional • 30 yrs of mine dev’t & operational experience• Direct experience with Goldcorp’s Éléonore

project in northern QuébecJoe Fazzini, CPA, CFA, CA CFO & VP Corporate Development• 10+ yrs advising and auditing global gold and

base metal producers through PwC & Dundee Capital Markets.

Alison Dwoskin, CPIR Manager, Investor Relations• 10+ yrs in mining Investor Relations

MANAGEMENT TEAM Bill McGuinty, P.GeoVP Exploration• 30 yrs experience in Canada and Latin

America, from exploration to environmental and feasibility studies

Manuel Ng-Lai, P.EngProject Engineer• 10+ yrs in the technical services sectorCarl Corriveau, P.Geo, SEGExploration Manager• 15+ yrs industry experience, including

project management and evaluation, advancing projects from exploration through economic studies



$152

$107

$88 $82 $80$72 $66

$60$50

$40 $39 $37

$0

$20

$40

$60

$80

$100

$120

$140

$160

EV P

ER O

UN

CE

(C$/

OZ)

VALUE OPPORTUNITY VS PEERS – EV/OZ44% GROWTH TO MATCH PEER AVERAGE

AVERAGE $73 PER EV/OZ

Data compiled by Laurentian Securities based on most recent company financial reports, April 4, 2017. *Eastmain data Includes Clearwater MI&I mineral resources (June 2015) and Eastmain Mine historic resources (255,000 oz @ 10 g/t Au).

CENTRAL JAMES BAY GOLD CAMP CANADA’S EMERGING GOLD DISTRICT

ProductionThe Canadian Shield has produced over 200 million

ounces of gold

Life Cycle James Bay is one of the youngest camps in the

Canadian shield

Exploration Potential for many more

discoveries as exploration advances

Development Rapidly improved

infrastructure to speed up pace of exploration

1. The production and reserve figure for James Bay Central Camp includes Eastmain’s resources as there are currently no reserves. 2. The Eastmain mine extracted 40,000 ounces in 1995. 3. Casa Berardi and Chibougamau are located in Southern James Bay Source: Company reports, government studies, and academic journals. Compiled in 2016.

Central James Bay

Rice Lake

Casa Berardi

Detour

Hemlo

Chibougamau

Red Lake

Rouyn-Noranda

Val D’or

Kirkland Lake

Timmins

7

2

3

23

21

7

28

20

30

45

74

Production & Reserves (Millions of Ounces)

First Gold Pour (Year)

2014

2005

1988

1983

1981

1952

1930

1927

1923

1915

1909

District


HIGH QUALITY ASSETS - AN EMERGING GOLD CAMPSUPERIOR INFRASTRUCTURE

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 RenardProject, providing permanent road access to the Eastmain Mine project.

Ruby Hill

Lac LessardEastmain Mine

Route 167 Nord All-season road

Clearwater

Lac Hudson

Reservoir

Lidge

Lac Elmer

Radisson

Eléonore South JV

JAMES BAY, QUEBEC 50KM

Eastmain

JamesBay

Mistissini

Temiscamie

Éléonore MineGoldcorp

Renard MineStornoway

Troilus MineCopper One

Wemindji

Waskaganish

Chisasibi

Nemaska

Radisson

Lac Clarkie


Total property portfolio - 132,088 hectares

CLEARWATER - DISTRICT POTENTIAL: 50,000 HECTARES63,300 M – 2016-1H2017 DRILLING PROGRAM

⎻ Archean greenstone belt setting - with potential for significant discoveries⎻ Targeting drill-ready open pit potential w/in 15 km of the Eau Claire Deposit

⎻ 2016-1H2017 drilling: 55,700 m at Eau Claire, 7,600 m additional targets⎻ Lac Clarkie: geophysics to identify priority drilling targets

⎻ Eau Claire-style mineralization extends for +20 km along the deformation zone⎻ Eleonore-style mineralization in the Clarkie sedimentary basin


5,790,000N

5,800,000N

480,

000E

5,780,000N

480,

000E

460,

000E

470,

000E

460,

000E

470,

000E

5,790,000N

450,

000E

5,800,000N

450,

000E

5,780,000N

52.5km

0

0

V3BMafic Volcanic Rock

SVolcanoclastic Sediment

S4Polymictic Conglomerate

V1Felsic Volcanic Rock

S9Iron Formation

Area Outline

VQ, VTL, VQTLQuartz +/- Tourmaline Vein,

QFPQuartz Feldspar Porphyry

M8Schist / Alteration Zone >50%

I3B, I4BDiabase, Pyroxenite

Hydrology (rivers and lakes)

Claim Block

Geology

I2Diorite

I1DTonalite

Other Symbols

I

5,790,000N

5,800,000N

480,

000E

5,780,000N

480,

000E

460,

000E

470,

000E

460,

000E

470,

000E

5,790,000N

450,

000E

5,800,000N

450,

000E

5,780,000N

52.5km

0

0

V3BMafic Volcanic Rock

SVolcanoclastic Sediment

S4Polymictic Conglomerate

V1Felsic Volcanic Rock

S9Iron Formation

Area Outline

VQ, VTL, VQTLQuartz +/- Tourmaline Vein,

QFPQuartz Feldspar Porphyry

M8Schist / Alteration Zone >50%

I3B, I4BDiabase, Pyroxenite

Hydrology (rivers and lakes)

Claim Block

Geology

I2Diorite

I1DTonalite

Other Symbols

I

TESTING THE O/P AND SHALLOW U/G POTENTIAL EAU CLAIRE DRILLING PROGRAM - 55,700 m

2016 TO MID-2017 EXPLORATION BUDGET:

$8.8 millionEAU CLAIRE DRILLING PROGRAM OBJECTIVES

4 drill rigs

1. Expand understanding of the mineralizing controls

2. Confirm current geological interpretation; test limits of the mineralized envelope

3. Improve drill spacing (~ 25 m) to show continuity between veins and increase overall confidence in the deposit


92% DRILLED

EAU CLAIRE DEPOSIT OVERVIEW: LOOKING NW 450WestZoneOutcroponHilltopOPEN PIT POTENTIAL

2015 EAU CLAIRE: MINERAL RESOURCE ESTIMATE 1 (see slide 15 for note)

Measured & Indicated:951,000 oz @ 4.09 g/t Au - 7,225,000 tonnesTotal Inferred:633,000 oz @ 3.88 g/t Au – 5,072,000 tonnes

DRILLING FOR A STRONG FOUNDATIONEAU CLAIRE MINERAL RESOURCE OPPORTUNITY

77% More drilling data in next mineral resource updatemid-2017

13,000 m - drilling from late 2015 (shown below)63,300 m - in progress - 2016 and 1H2017

Note:5,000metres drilledin2014attheClovisLaketarget,ClearwaterProjectApproximatemineralresourceoutline,onEauClairedepositoverviewimage.


2015 Global Mineral Resource Model: Longitudinal View Facing North

CONCEPTUAL

300 m

2015 Definition drilling intersected multiple high-grade gold intervals laterally and down-plunge of the current Measured & Indicated resource. The deposit is open laterally to the east and down plunge to the southeast and southwest. Based on SRK June 11, 2015 mineral resource, “Technical Report for the Eau Claire Gold Deposit, Clearwater Project, Quebec”.

1,500 m

EAU CLAIRE: POSITIVE DRILLING RESULTSCONFIRMING THE DEPOSIT AND EXTENDING MINERALIZATION

- Drilling is pushing the boundaries of the resource envelope- Deposit remains open at depth and to the east

- ER16-584 - 11.5 g/t Au over 13.5 m, incl. 21.3 g/t Au over 5 m (Oct 24, 16)- 79.7 g/t Au over 0.5 m

- ER16-662 - 17.0 g/t Au over 7.1 m, incl. 54.6 g/t Au over 0.7 m (Feb 7, 17)- ER17-674 - 8.31 g/t Au over 13.3 m, incl. 11.4 g/t Au over 8.8 m (Mar 6, 17)

DRILLING PROGRAMReported Results: 35,200 mTotal Completed: 51,178 mTotal Planned : 55,700 m


Eau Claire 2015 Mineral Resource (M&I) Grade Thickness Long Section

Drill Hole Pierce Points2016-1H2017


WIDE HIGH-GRADE SCHIST VEINSHGS-02 AND HGS-04 VEINS

• New view on high grade schist veins w/ broader intercepts and higher grades than the main EW-trending veins – Eau Claire drilling targeting the schist veins

• Schists are extensively altered, trend ESE within sheared corridors of gold-bearing metavolcanic rock

HGS-04 ➤ 650 m strike x 310 m dipHGS-02➤ 350 m strike x 339 m of dip

SNAKE LAKE: GROWTH POTENTIAL NEARBYDRILLING IDENTIFIES TWO-STYLES OF GOLD MINERALIZATION NEAR EAU CLAIRE

DRILLING PROGRAMReported Results: 3,785 mTotal Completed: 4,512 m


S H A L L O W800 m x 200 mmineralized corridor

2 Types of Mineralization:1) Sulphide-rich gold zone

2) Quartz-tourmaline gold mineralization- Similar to the Eau Claire

deposit, w/in 2km

ADDITIONAL 3,100 M DRILLING- Testing open pit targets along the Clearwater Deformation Zone

ER16-592ER16-596

ER16-604

ER16-626

ER16-592 - 12.2 g/t Au over 1.5 m (Oct 24, 16)ER16-604 - 11.3 g/t Au over 1.15 m (Jan 4, 17)ER16-596 - 6.38 g/t Au over 1.0 m (Dec 1, 16)ER16-626 - 8.86 g/t Au over 0.7 m (Feb 7, 17)

DISTRICT-SCALE POTENTIAL – FOCUS ON EAU CLAIREEXPLORING THE CLEARWATER PROPERTY

PROPERTY51,614 hectares30 person camp incl. full-kitchen, core-shack and cabinsHydro-power (20 kms away), road and nearby airportsJames Bay gold district greenstone belt, volcanics100% ownership

Note 1. Technical Report for the Eau Claire Deposit, Clearwater Project by SRK Consulting (June 2015) filed on SEDAR.

UPCOMING CATALYSTSDrilling results (2Q 2017)Mineral resource update (MID-2017)Planning 2H 2017 growth focus drill programPreliminary Economic Assessment (END OF 2017)


Piano key breccia Clearwater’s 30-man camp


EASTMAIN MINE PROJECT TWO-PART OPPORTUNITY

1) Past-Production

• Historic production and historic resources

• New road significantly improves accessibility, as well as the costs of exploration and potential future development and operations

2) Potential Growth

• 10 km mine trend, with indications mineralization continues

• Discovery 3 km from the historic mine

EASTMAIN MINE PAST PRODUCTION ROADWAY IMPROVES ACCESSBILITY AND INFRASTRUCTURE

Otish Park

EastmainMineCamplookingNWalongminetrendtosurfacetargets

Route167Road,partofPlanNord Eastmain Mine

All-season road built in 2014 by Quebec gov’t and Stornoway

StornowayRenard MIne


HISTORIC MINING & RESOURCE

MINED: 40,000 ozs at 10.58 g/t Au (1995)

RESOURCE1: 255,750 oz of 10 g/t Au in 878,000 tonnes(A&B and C Zones) (1999)

$40M invested by previous owners on exploration & development

Note 1. The Eastmain Mine (past-producing) Historical Resources is not NI 43-101 compliant. A Qualified Person has not done sufficient work to classify them as mineral resources. The issuer is not treating these historical resources as current mineral resources and these resources should not be relied on.

DISCOVERY ALONG THE 10 KM MINE TREND EXPLORATION OPPORTUNITY TO BUILD CRITICAL MASS

• 2016 exploration tested the 10 km mine trend• Trenching and drilling confirmed shallow mineralization w/in 3 km of the mine:

– Top priority targets: Hillhouse, Suzanna, and Julien targets – Julien Discovery is parallel to the mine trend


DISCOVERY

EM16-7642.4 g/t Au, 30.2 g/t Ag and 0.53% Cu over 10.5 m

100 m

JULIEN CROSS SECTION

Historic Resource to NI 43-101 Report expected year-end 2017

Mine trend, intercepted downhole

EASTMAIN MINE HISTORIC OPPORTUNITY PRODUCTION (1995) & RESOURCES (1999)

PROPERTY - 8,014 hectaresPermanent all-weather road, onsite airstrip, generator-power50 person-camp incl. full-kitchen, core shack and cabinsJames Bay gold district greenstone belt (volcanics)100% ownership

UPCOMING CATALYSTS

IP survey and follow-up drilling (2Q 2017)

Planning 2H 2017 exploration program

Historic resource conversion to NI43-101 report


Road to Eastmain 50-Man Camp

ÉLÉONORE SOUTH JV PROPERTY INDICATIVE GEOCHEMISTRY – CONTIGUOUS TO ELEONORE MINE PROPERTY

Property size: 147 sq km

JOINT VENTURE PARTNERS:• Eastmain (36.7%) • Goldcorp (36.7%)• Azimut (26.6% - Operator: 2016 – 1H2017)GOLDCORP’S ELEONORE MINE:• Sedimentary-hosted gold deposit• >7 M MI&I ounces• 2017 gold production forecast: 315,000 oz

($985/oz AISC)

MONI PROSPECT: • 3-4 km long x 0.5 km wide corridor• All 10 drill holes from Phase 1 intercepted

mineralization• Located within the Prospect Corridor:

Extends from JT Prospect east to Cheechoo discovery, over Moni Prospect (July 2016)

FD PROSPECT• New FD Prospect down trend from Goldcorp’s

Eleonore gold mine, 4.5 km north of JT Prospect(July 2016)

2016-1H2017 Drilling Program$2 million - JV Budget$0.74 million (Eastmain portion)

Goldcorp’s Eleonore PropertyEleonore South JV Property

FD Prospect


76°W

76°W

52°3

7'30

"N

52°3

7'30

"N

435,000

435,000

440,000

440,000

5,8

25

,000

5,8

25

,000

5,8

30

,000

5,8

30

,000

5,8

35

,000

5,8

35

,000

0 500 1,000 1,500

meters

1:50,000

UTM zone 18 projection - NAD83

ELEONORE SOUTH PROPERTYSoil geochemistry - Arsenic (As)

Date: 2016-05-11

100%99%96% - 98%91% - 95%86% - 90%81% - 85%71% - 80%61% - 70%51% - 60%1% - 50%

71.82 - 929.3550.27 - 71.8129.23 - 50.2719.25 - 29.2314.84 - 19.2512.14 - 14.848.85 - 12.146.76 - 8.855.19 - 6.76

0 - 5.19

As (ppm) | Percentiles

76°W

76°W

52°3

7'3

0"N

52°3

7'3

0"N

435,000

435,000

440,000

440,000

5,8

25

,000

5,8

25

,000

5,8

30

,000

5,8

30

,000

5,8

35

,000

5,8

35

,000

0 500 1,000 1,500

meters

1:50,000

UTM zone 18 projection - NAD83

ELEONORE SOUTH PROPERTYSoil geochemistry - Gold (Au)

Date: 2016-05-11

100%99%96% - 98%91% - 95%86% - 90%81% - 85%71% - 80%61% - 70%51% - 60%1% - 50%

0.079 - 0.930.05 - 0.0790.026 - 0.05

0.016 - 0.0260.012 - 0.0160.009 - 0.0120.007 - 0.0090.006 - 0.0070.005 - 0.006

0 - 0.005

Au (ppm) | Percentiles

ÉLÉONORE SOUTH JV DRILLINGDRILL RESULTS IN PROSPECTIVE CORRIDOR SUPPORT GEOCHEMICAL SIGNATURE

2016 – early 2017 Drilling Program:Phase 1 - 2,500 m drilling (12 holes) COMPLETEAll 10 holes drilled in the prospective corridor (4 km x 0.5 km) were mineralized

Phase 2 - 2,500 m – drilling underway


THE WAY FORWARD: AGGRESSIVE EXPLORATION75,000 METERS IN 2016-1H2017, PLANNING 2H2017 PROGRAMS

3Q16 4Q16 1Q17 2Q17 3Q17

Complete comprehensive drill campaign (63,000m)

Updated mineral resource estimatePerform other technical optimization work

Optimize and complete PEA and study workCLE

AR

WA

TER

PR

OJE

CT

EAST

MA

IN

MIN

E PR

OJE

CT

ÉLÉO

NO

RE

SOU

TH J

V

Trenching

Drilling (7,500m)

Drilling (5,000m)

Sampling

PRIORITIES (Calendar Year)

2017 Program

2017 Program

2017 Program

4Q17

TODAY


IP Survey

Drilling

Historic to NI43-101 mineral resource conversion

FOR MORE INFORMATION

Claude Lemasson P.Eng., MBA

President & [email protected]

Alison Dwoskin CPIR

Manager, Investor [email protected]

Office: 647-347-3735

www.eastmain.comTSX:ER


LEADING EXPLORATION IN JAMES BAY - Eastmain Resources Inc. › _resources › ER - EGF Presentation...

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Transcript of LEADING EXPLORATION IN JAMES BAY - Eastmain Resources Inc. › _resources › ER - EGF Presentation...