MANY POSITIVE CATALYSTS TO DRIVE IMMINENT GROWTH

Transcription

1 MANY POSITIVE CATALYSTS TO DRIVE IMMINENT GROWTH Producing Gold Since 2008 January

2 2 A GOLD COMPANY POSITIONED FOR GROWTH Annual production of roughly 35,000 oz gold from Bachelor Mine Expected cash cost in Q4/16 of just over US$800/oz* at Bachelor (AISC just under $US 1,000/oz*) Generating positive cash-flow from Bachelor mine Demonstrated exploration potential on Bachelor, Moroy, Moss, and Barry properties * Sandstorm Gold Ltd. gold stream is included in the costs

3 3 CAPITAL STRUCTURE Public company listed on the TSX Venture Shares outstanding as of December 31 st 2016* Options* Warrants* Fully diluted* Market capitalization Convertible debenture expiring in MTO (TSX-V) M 16.1 M 66.1 M M 26.3 M$ (0.06) 9.0 M$ * Before 10 to 1 share consolidation 52 weeks high-low $ $ Average trading vol last 3 months ~ 1, : METANOR ANNOUNCES 10:1 SHARE CONSOLIDATION : METANOR INTERSECTS 8.6 g/t Au OVER 13.9 M AT BACHELOR MINE : METANOR INCREASES ITS PRODUCTION GUIDANCE AND REPORTS ITS OPERATIONAL RESULTS FOR THE QUARTER ENDED DECEMBER 31st : METANOR INTERSECTS 4.25 g/t Au OVER 16.7 M AT BARRY PROJECT : METANOR FILES PEA ON THE BARRY PROJECT

4 CORE 4 ASSETS Excellent infrastructure, efficient mill and easily expandable Stable political environment Within promising mining district (Urban-Barry); beside the Windfall project belonging to Osisko Mining Inc. Large Land Position: Bachelor 7,718 ha. Urban Barry 7,335 ha.

5 5 PROVEN MANAGEMENT TEAM Serge Roy Ghislain Morin Ron Perry Pascal Hamelin, P.Eng. Executive Chairman President and CEO VP and Treasurer VP of Operations Claude Gobeil, Ing. Exploration Manager Over 30 years in prospection, and exploration Over 40 years in mine operations and management Over 30 years of accounting, and finance Over 25 years in mine management Over 40 years in exploration and mine geology

6 6 BOARD OF DIRECTORS Serge Roy Executive Chairman Over 30 years in prospection, and exploration Ghislain Morin Ron Perry Robert Bryce, P.Eng. Tris Coffin President and CEO VP and Treasurer Director Director Michel Fontaine Director Over 40 years in mine operations and management Over 30 years of accounting, and finance Over 40 years in corporate and mine management Over 45 years in business management Currently VP Business Development of Diagnos Inc

7 7 BACHELOR GOLD MINE

8 8 BACHELOR CAMP A A I

9 9 BACHELOR MINE: EXCELLENT INFRASTRUCTURE CIP Mill with a recovery > 96% and availability > 95%; Mill capacity of 800 tpd with Bachelor ore (1,200 tpd with Barry ore); Hoisting capacity down to 1,200 meters OF 1,500 tpd; Current shaft depth: 700 meters; Lodging capacity on site for 260 employees; Power availability > 7 MVA (66% used) 1, $ 1, $ Oz sold Cash cost US$ 14,000 12,000 US$ per Oz 1, $ 1, $ $ $ $ 10,000 8,000 6,000 4,000 Au Oz sold $ 2,000 - $ 2014-Q Q Q Q Q Q Q Q Q Q4 -

10 10 BACHELOR MINE: Longitudinal Section Facing North; Section A - A I O Brien Granite

11 11 EXPLORATION POTENTIAL AROUND BACHELOR Plan View

12 12 MOROY DISCOVERY: 1 KM AWAY FROM THE MILL Plan View B B I

13 13 MOROY - OPEN IN ALL DIRECTIONS Longitudinal Section; B - B I

14 BACHELOR-MOROY: GREAT POTENTIAL AT DEPTH; Section A - A I 14 Bachelor Mine Section looking east Moroy veins Section looking east Level 11, Exploration dr. High potential to connect at depth

15 15 THE EMERGING BARRY GOLD CAMP

16 16 BARRY OPEN PIT: POSITIVE ECONOMICS* Highlights of the PEA (all in CAD dollars) NPV before taxes at 6% of 53.5 M$ IRR before taxes of 198% LOM production of 193,457 oz over 9 years Cash cost of $ 1,114 per oz (US$ 891 per oz) Capital start-up of 8.6 M$ Payback of 0.7 years at a gold price of $1,560 per oz Waste to ore ratio of 2.17 to 1 This pit was previously mined = lower development risk * Source: NI Technical Report, Barry PEA, Sept

17 17 DRILL CAMPAIGN 2016 AND 2017

18 18 BARRY OPEN PIT OPEN AT DEPTH; Section A - A I

19 19 BARRY PROJECT: POTENTIAL TO ADVANCE RAPIDLY TARGET TIMELINES RESOURCE UPGRADE Q PRE- FEASIBILITY Q PERMITTING & CONSTRUCTIO N Q3-Q START-UP 2018

20 20 AN EMERGING DISTRICT URBAN-BARRY Plan View

21 21 BACHELOR MILL: EASILY EXPANDABLE Can be expended to 2,000 tpd for less than $ 7 M Additional grinding Second thickener More leaching time Additional gravity circuit

22 22 THE BACHELOR MILL; A GREAT ASSET IN THE Heart OF A NEW MINING DISTRICT Many deposits are within 100 km radius from the mill. The mill capacity can be increased easily with a minimal investment. Metanor always assesses the opportunities to acquire other deposits around the Bachelor mill.

23 23 COMPARATIVE VALUATION Enterprise Value / Oz - Global Resource EV/oz (US$) $150 $130 $110 $90 $70 $50 $30 $10 -$10 Abcourt Mines Inc. (ABI.V) Metanor Resources Inc. (MTO.V) Sage Gold Inc. (SGX.V) GoWest (GWA.V) Austral Gold Ltd. (AGLD.V) Jaguar Mining Inc. (JAG.TO) Wesdome Gold Mines Ltd. (WDO.TO) Anaconda Mining Inc. (ANX.TO) Serabi Gold plc (SBI.TO) Marlin Gold Mining Ltd. (MLN.V) Harte Gold Corp. (HRT.TO) Enterprise Value / Oz Production Guidance EV / oz (US$) $4,000 $2,000 $0 Austral Gold Ltd. (AGLD.V) Anaconda Mining Inc. (ANX.TO) Metanor Resources Inc. (MTO.V) Jaguar Mining Inc. (JAG.TO) Marlin Gold Mining Ltd. (MLN.V) Wesdome Gold Mines Ltd. (WDO.TO)

24 24 OVERALL CONCLUSION Proven assets, including experienced team, to grow the company further Generates positive cash-flow Exploration potential at Bachelor, Moroy Within months of having a second producing asset with Barry pit Large land position with exploration potential in the attractive Urban-Barry camp

25 25 APPENDIX: RESOURCE AND RESERVES Mineral resources Bachelor Mine, Stantec, April 2011 Category Tonnes Grade ounces Measured 192, ,504 Indicated 648, ,352 M&I 841, ,857 Inferred 426, ,366 Mineral reserves Category Tonnes Grade ounces Proven 193, ,743 Probable 650, ,433 P&P 843, ,177

26 26 APPENDIX: RESOURCE AND RESERVES Mineral resources Barry Open pit project, Goldmind Geoservices Inc., Sept 2016 Category Tonnes Grade ounces Measured 5,880, ,000 Indicated 3,020, ,000 M&I 8,900, ,000 Inferred 20,705, ,000

27 27 FORWARD LOOKING STATEMENTS This presentation contains «forward looking statements» concerning the business, operations and financial performance and condition of Metanor Resources Inc (Metanor). Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future production, cost of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as «plans», «expects» or «does not expect», «is expected», «budget», «scheduled», «estimates», «forecasts», «intends», «anticipates», or «does not anticipate», «believes» or variations of such words and phrases or statements that certain actions, events or results «may», «could», «would», «might» or «will be taken», «occur» or «be achieved». Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance or achievements of Metanor to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes; delays in obtaining governmental approvals or financing or in the completion of development or construction activities and other risks of the mining industry. Although Metanor has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statement, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Metanor does not undertake to update any forward-looking statements that are included in this document, except in accordance with applicable securities laws. All amounts are in CND dollars, unless otherwise stated.

28 THANK YOU FOR YOUR TIME Ressources Métanor Inc. 2872, Chemin Sullivan, suite 2 Val-d Or, Québec, Canada J9P 0B9 Tel: (819) Fax: (819)