May 2011 Corporate Presentation for Kiska Metals

8/6/2019 May 2011 Corporate Presentation for Kiska Metals

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DISCOVERED.

May 2011Jason Weber, P. Geo.

President & CEO

The Whistler ProjectAn Emerging Gold-Copper Porphyry District



Cautionary Note

This presentation contains forward-looking statements. All statements, other than statements of historical fact, that

address activities, events or developments that the Company believes, expects or anticipates will or may occur in the

future (including, without limitation, statements regarding exploration results, potential mineralization, future plans

and objectives of the Company and mineral resources) are forward-looking statements. These forward-looking

statements reflect the current expectations or beliefs of the Company based on information currently available to the

Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual

results of the Company to differ materially from those discussed in the forward-looking statements, and even if such

actual results are realized or substantially realized, there can be no assurance that they will have the expected

consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially

from current expectations include, among other things, uncertainties relating to the availability and costs of financing

needed in the future, changes in commodity prices, changes in equity markets, changes to regulations affecting the

Company's activities, the uncertainties involved in interpreting exploration results and other geological data and the

other risks involved in the mineral exploration industry. Any forward-looking statement speaks only as of the date on

which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or

obligation to update any forward-looking statement, whether as a result of new information, future events or results

or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are

reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance

should not be put on such statements due to the inherent uncertainty therein.

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Exploring a new gold-copper district in Alaska.

• Anchored by Whistler Au-Cu Porphyry Deposit – indicated 2.25M oz gold eq., inferred 3.35M oz gold eq.*

Four new porphyries discovered

• Island Mountain, Raintree West, Raintree East and

Rainmaker. Potential for further discoveries - numerous targets to be

tested and peripheral-style alteration to follow up.

Major 2011 drill program started in March 2011 totalling

31,000 m.

* See slide 10 for details of NI43-101 resource estimate

Investment Highlights

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Whistler2.25 Moz Au eq. indicated3.35 Moz Au eq. inferred*

Pebble

Donlin Creek

• Location

– 150 km NW ofAnchorage.

– 527km2 State ofAlaska MiningClaims.

– 50 person camp.

• Infrastructure

– Multiple potentialpower/access routes

– 385 Mw station atTyonek.

– Proposed powerprojects:

• Chackachamna

• Mt. Spurr

Whistler Location & Infrastructure

Anchorage

Livengood

Fort Knox

Pogo

4* See slide 10 for details of NI43-101 resource estimate



Proposed New Infrastructure

Chackachamna Hydro TDX Power Corp

(Alaska Native Corp.) ~ 400 MW proposed

Mt. Spurr Geothermal Ormat Technologies Inc

NYSE listed, geothermal

projects worldwide Currently in feasability

study

Donlin Creek gas pipeline Beluga to Donlin

through Whistler Will be open to other

users

Feasibility to becomplete 2nd quarter2011

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•Cretaceous flysch sediments(greywacke, sandstone) overlainby extrusive andesite

•~75 Ma Whistler IntrusiveSuite (WIS) - diorite porphyry.

•Whistler deposit hosted by WIS

stock; other prospects (includingIsland Mountain) associated withWIS stocks/dykes

•65 Ma: Composite Suite (Mt.Estelle Intrusives) associatedwith Muddy Creek

WhistlerCorridor

MuddyCreek

IslandMountain

8 km

Property Geology

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77

Comparables

Refugio

Caspiche

Cerro Casale

Volcan

Whistler Deposit

Island Mountain

10 km

Maricunga gold-rich

porphyry belt, Chile

Whistler gold-rich

porphyry district, Alaska

10 km

21.2 Moz Au at 0.61 g/t, 5,308Mlbs of copper at 0.22%.

5.4 Moz Au at 0.76 g/t

10.6 Moz Au at 0.62 g/t

24.3 Moz Au at 0.52 g/t,6,400 Mlbs Cu at 0.2%

2.25 Moz Au Eq indicated3.35 Moz Au Eq inferred*

Round Mountain

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Whistler Porphyry Au-Cu District

Muddy

Creek

Rainmaker

Whistler Deposit

Raintree West

Raintree East

15 km23 km

Gold rich gold-copper porphyry deposit.

New gold-copper porphyries proximal to Whistler (Raintree W, Raintree E andRainmaker - All were blind, geophysical targets )

>20 geophysical targets in 527km2 property.

Favourable infrastructure options and preliminary metallurgical work

Same geological belt as Pebble copper-gold porphyry with 72Blb Cu, 94Moz Au, 4.8Blb

Mo (Source: Northern Dynasty website).

IslandMountain

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• New gold-copperporphyry district.

• Existing large goldresource

• 2.25 Moz Au Eq indicated

• 3.35 Moz Au Eq inferred *

• Expansion potentialwithin 3 km at Raintreeand Rainmaker

• New gold discoveries23km S and 17km ESEof Whistler.

• Many untested targets.

Whistler Corridor18 x 9 km with multiple targets

Island Mountain

Raintree and

Rainmaker Muddy Creek

Whistler Deposit

Whistler Opportunity at a Glance




Whistler 43-101 Resource

Tonnes & Grade Contained Metal (M)

Resource CategoryTonnes

(Mt)Au

(g/t)Ag

(g/t)Cu(%)

Au eq.(g/t)

Au(Moz)

Ag(Moz)

Cu(Mlb)

Au eq.

(Moz)

2011 Revised Resource

Indicated (open-pit) 79.2 0.51 1.97 0.17 0.88 1.28 5.03 302 2.25

Inferred (open-pit) 145.8 0.40 1.75 0.15 0.73 1.85 8.21 467 3.35

2008 Resource

Indicated (open-pit) 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31

Total Indicated 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31

Inferred (open-pit) 123 0.59 2.07 0.19 0.98 2.33 8.19 515 3.86

Inferred (underground) 11 1.16 3.55 0.24 1.66 0.41 1.26 58 0.59

Total Inferred 134 0.64 2.18 0.20 1.05 2.74 9.44 573 4.44

Source: Mineral Resource Estimation Memo, Whistler Copper-Gold Project, Alaska Range, Alaska. January, 2011. Memo Prepared by Moose Mountain Technical Services Ltd. Final Report to be filed on SEDAR in February 2011.

• Published revised resource in January 2011.

• Based on 41 drill holes on only the Whistler Zone.

• Au eq. calculation: US$990/oz Au, US$15.40/oz Ag, US$2.91/lb Cu.

• 0.30g/t Au eq. cutoff, 1.3 strip ratio, based on a 45 degree pit shell.

• Positive preliminary metallurgy: 85% Cu, 75% Au recoveries from opencircuit cleaner tests (22.5% Cu concentrate, 65 g/t Au).

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11

Whistler Discovery Outcrop

Raintree W

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12

Round MountainSnow Ridge

Long Lake HillsWhistler

Rainmaker

Puntilla

Raintree W

ALGER PEAK LOOK-OUT OF WHISTLER AREA PROSPECTS

2.25 Moz Au Eq. indicated3.35 Moz Au Eq. inferred*

• Two blind targets drilled with discoveries – Raintree & Rainmaker.

• Numerous geophysical targets with same signature as Whistler

Whistler Property Exploration

Only Scratching the Surface

Raintree E

Spur Targets

Portage Ck

Looking North

40 m @ 0.98 g/t Au, 0.2% Cu, 10.2g/t Ag within 471.2 m of 0.38 g/t Au,0.09% Cu, 4.7 g/t Ag

167 m @ 0.47g/tAu, 0.17% Cu.

90 m @ 0.42g/t Au, 1.3g/t Ag, 0.10% Cu




Whistler Corridor18 x 9 km with multiple Au-Cu targets

Whistler DepositNI43-101 Resource

2.25 Moz Au Eq indicated3.35 Moz Au Eq inferred *

2009 Island Mountain DiscoveryHole

IM09-001: 382.9m of 0.68 g/t Auincluding 106.9m of 1.22g/t Au

Island Mountain Discovery

• Located 23 km south ofWhistler.• Surface and drill evidence

for significant mineralizedsystem. – 4.5x3km area of gold-copper

soil and rock anomalies.

– Untested zones of copperbearing stockwork andbreccias.

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• Breccia ZoneBreccia: 150 x 100m exposure of

actinolite-magnetite hydrothermalbreccia in diorite.

2009

– Discovery Hole: 0.68g/t Au over 382.9

m, including 0.70g/t Au , 0.16% Cuover 150 m and 1.22g/t over 106.9 m.

2010

– 15 holes completed over 700 m trend

– Preliminary metallurgy completed• Very positive 75-90% gold

recoveries (see appendix for moredetails)

– Bonafide porphyry discovery

• 114.9 metres averaging 1.25 g/tgold and 0.23 % copper

09 DrillingDiscovery

09 DrillingIM09-002: 214.3m @

0.13g/t Au

500m


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15

Island Mountain 2010 Drill Plan

Hydrothermal Breccia

Intrusion Breccia

Diorite

Hornfels

Discovery Hole

114.9 of 1.25 g/t Au and 0.23% Cu

150.0 m 0.72 g/t Au and 0.16% Cu106.9 m 1.22 g/t Au only

237.4 of 0.53 g/t Au and 0.14% Cu

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These areas will require additional sampling to definetheir full extent and to determine drill targets in 2011

Potential Targets

In the vicinity of the Discovery Breccia, soil

and rock sampling has expanded the targetarea to 2 by 1.5 km in size

New anomaly of the same strength has beendefined by 2 by 1.2 km gold-copper anomalynorth of the Cirque Zone

Looking NE

23 km to Whistler

Breccia Zone

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>175 ppb composite gold anomaly

250m



2011 Program (~30,000 metre drilling program March-November)

Whistler Orbit area:

Spring:

Initial startup – one drill in Whistler Orbit (Raintree West) area with two “overburden rigs” testing geophysical targets.

Summer:

2 rigs, expansion of Raintree targets, and testinganomolies identified

Continued drilling at Raintree West, East and new orbit targets

Island Mountain:

Spring:

Detailed airborne geophysical survey over Island Mountain

Summer:

2 drill rigs expanding Breccia zone for 37 holes for 11,000 mdrilling

Testing new targets at Island Mountain and Muddy Creek

Whistler – Next Steps

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Whistler Deposit: Detailed study of deposit geology. Re-examine drilling to identify controls on

mineralization to aid in building new, detailed model to aid in future targetting

New Targets:Summer: Drill 2-5 holes at Muddy Creek. Rock chip samples from Muddy Creek

averaged 4.72 g/t gold over 3.2 km by 3.3 km in a irregularly shaped area Evaluate and rank other drill targets including: Spur Area, Alger Peak, Snow

Ridge, Puntilla Ridge, Old Man Breccia

Whistler – Next Steps

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Looking SW Looking NE



Kiska is trading below US$15 EV / oz Au-equivalent

Value / Ounce of Resource

Note: Equivalent resources are calculated using the following long term price forecasts: Gold (US$990/oz), Silver (US$15.40/oz), Copper (US$2.91/lb) and Moly (US$15.00/lb)

(1) Total resources including inferred (2) Includes all Nova Gold’s assets: Donlin Creek (50%), Galore Creek (50%), Copper Canyon (100%), Ambler (100%) (3) Includes the Snowfield & Brucejack projects

Rainy River Detour Lake Several Livengood Toroparu Volcan Whistler Several KSM Caspiche

(2)

(1)

(3)

Resource Value Positioning

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Management and Board of Directors

Management Team

Jason Weber, P.Geo.,President and CEO Adrian Rothwell, CA, CFO

David Caulfield, P.Geo., Chairman and Director of Business Development

Mark Baknes, P.Geo.,VP Exploration

Board of Directors

David Caulfield, P.Geo. (Co-Chairman)

John Kanellitsas, B.S. (Co-Chairman)

Jason Weber, P.Geo.

Geoff Chater, B.Sc.

Bipin Ghelani, CA

George Ireland, B.S.

Mark Selby, B.Comm.

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Kiska Corporate Summary

Share Performance Capital Structure

Symbol KSK:TSX-V

SharesOutstanding

99.2 Million

Warrants 12.1 Million

Options 6.13 Million

Fully

Diluted

117.4 Million

Cash $24.3 Million

Major Shareholders

35%- Geologic Resource Partners

5%- Management/ Insiders (RFM)

6%- Tocqueville

2%- Global Strategic Management

2% Teck Resources Ltd.

2% Colonial First State

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• Whistler (100% owned) – An Emerging Gold-Copper

Porphyry District- Gold rich porphyry deposit to anchordistrict in same geological belt as Pebble copper-goldporphyry- 2.25M oz gold eq indicated, 3.35M oz gold eqinferred *

• Four new gold discoveries- Island Mountain, RaintreeWest, Raintree East and Rainmaker

• Superior exploration upside.

• Large drill program began in Q1 2011.

Investment Highlights




Kiska Metals Corporation

Jason Weber, President & CEO

Tel: (604) 669-6660 ext 237

Email: [email protected]

Suite 575 – 510 Burrard Street, Vancouver, British Columbia, V6C 3A8

www.kiskametals.com

Drew Martel, Manager, Investor Relations

Tel: (604) 669-6660 ext 236

Email: [email protected]

Suite 575 – 510 Burrard Street, Vancouver, British Columbia, V6C 3A8

www.kiskametals.com

Contact Information

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mailto:[email protected]

mailto:[email protected]



Byron Capital Markets – Drew Clark 647-426-1673

Mackie Research Capital Corporation - Dale Mah, P.Geol. 604-662-1840

Raymond James Ltd. – Bart Jaworski, P. Geo. 604-659-8282

Union Securities Ltd – Brian Mok, P.Eng., MBA 416-775-5135

For further information contact:

Drew Martel, Manager, Investor Relations

Tel: (604) 669-6660 ext 236Email: [email protected] 575 – 510 Burrard Street, Vancouver, British Columbia, V6C 3A8www.kiskametals.com

Analyst Coverage

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Actinolite-Magnetite

K-feldspar Alteration



Biotite Alteration Chlorite-Epidote Alteration

Pyrrhotite Dominant

Causative Intrusion?

Pyrite Dominant

1200m

1000m

800m

Actinolite MagnetiteHydrothermal Breccia

150.0 m 0.72 g/t Au and 0.16% Cu

Vein and Net-Textured Pyrrhotite

106.9 m 1.22 g/t Au only

K feldspar Alteration+ Disseminated Chalcopyrite

114.9 of 1.25 g/t Au and 0.23% Cu

Kspar Alt

?

?

???

DIOHNFS

HYDBX

INTBX

Strike and depth extend of lower zone style pyrrhotite mineralization

Testing depth of breccia system and cause of porphyry

Looking for on strike extension of breccia areaSurface breccia extends 700 m to N of discovery breccia

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Island Mountain: Metallurgy

• Metallurgical processing of samples from Island Mountain show excellent

recovery rates and saleable Cu concentrate grades using conventionalprocessing techniques

• The Lower Zone (Net-textured Pyrrhotite) composite sample achievednearly 90% Au recovery through a combination of selective flotation and

cyanidation of tailings; The upper composite sample (Actinolite-Magnetitebreccia) achieved 75% Au recovery, further modification and optimizationcan be expected to greatly improve those results

• Processing infrastructure contemplated at Whistler, including

conventional milling and flotation followed by cyanide leaching of tailings,matches what would be required at Island Mountain based on this early test work

Island Mountain mineralization a growing part of a district resource base 26



• 1986-1989: Cominco team discovers Whistler outcrops and drills 16 holes(1677 m).

• 2002: Kent Turner options Whistler to Kennecott• 2003-2006: Kennecott conducts groundwork, geophysics and completes 35

drillholes (15 at Whistler) totalling 12,694 m.

• 2005: Geoinformatics (GXL) signs Strategic Alliance agreement withKennecott. Geologic Resource Partners provides $20 million (US)

convertible loan to GXL.• 2007: GXL acquires Whistler and drills 7 infill holes at Whistler (3,321).

• 2008: GXL drills 8 holes at Whistler and 1 hole each at Raintree andRainmaker targets, resulting in Raintree West discovery. Geologic gainscontrol of GXL after acquiring 85% of GXL’s shares

• 2009: GXL merges with Rimfire Minerals to form Kiska. Kiska renegotiatesterms of Kennecott’s back-in rights. Kiska embarks on 264 line kilometres ofIP and 5 drillholes (1500m) as part of Kennecott “trigger program”. Island

Mountain and deep Raintree West discoveries made.

• 2010: Kiska completes additional 18 drillholes (7,142m) to fulfill “trigger

program” and provides report of program to Kennecott. September 1 –

Kennecott waives back in rights. Kiska completes an additional 17 holes (5t Whi tl ) t t lli 9450

Property History

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May 2011 Corporate Presentation for Kiska Metals

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