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Certain statements in this document constitute “forward looking statements” which may not be based on historical fact. Such forward looking statements involve known and unknown risk, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements. Such factors include, among others, the following: actual results of exploration and development activities; the estimation or realization of mineral reserves and resources; the timing and the amount of future production; the costs and timing of the development of new deposits; future prices of precious and base metals; accidents; risks inherent in mineral exploration; risks associated with development, construction and mining operations; restrictions on foreign ownership; the Company’s history of operating losses and uncertainty of future profitability; uncertainty of access to additional capital; environmental liability claims and insurance; and dependence on joint venture partners. Mr. Gregory Smith, P. Geo., Vice President of Exploration for Edgewater Exploration Ltd., is the qualified person as defined by NI 43-101 and has prepared and approved the technical data and information in this corporate presentation.
100% owned Advanced Stage Corcoesto Gold Project NW, Spain (NI 43-101 PEA completed, Updated Measured & Indicated Resource) 51% own Advanced Stage Enchi Gold Project Ghana, West Africa (Inferred Resource) STRONG MANAGEMENT TEAM Proven mine builders, with experience internationally and specifically within Spain UPDATED MEASURED AND INDICATED RESOURCE ESTIMATE EXCEEDS ONE MILLION OUNCES GOLD* Micon International completed open pit constrained resource (Spain) Approved Environmental Impact Statement (Milestone Permit) December 2012 Ministry of Environment approved The Corcoesto project for open pit mining INFERRED RESOURCE ESTIMATE EXCEEDS ONE MILLION OUNCES GOLD** Tetra Tech 2012, Ghana, West Africa (Joint Venture Edgewater 51%/Kinross 49%) $8 Million market capitalization *See slide 9 for full details ** slide 16 for full details
100% Ownership +15,000 ha along the Gold belt Conventional open-pit advanced stage gold project
FIRST WORLD, PRO-MINING JURISDICTION ADVANCED GOLD DEVELOPMENT PROJECT (Preliminary Economics Complete) PIT-CONSTRAINED GOLD RESOURCE (Significant Exploration Upside Potential) EXCELLENT LOCATION WITH ALL INFRASTRUCTURE IN PLACE FULL ENVIRONMENTAL IMPACT STATEMENT APPROVED (DEC. 2012) ALL LEVELS OF GOVERNMENT AND LOCAL COMMUNITIES SUPPORTIVE EXPLORATION UPSIDE
George Salamis , President & CEO, Director Greg Smith, P.Geo , Vice President Exploration +20 years experience directing exploration, development, and mining +23 years exploration experience working for both junior & senior operations of a number of gold, base metal and coal projects, Mr. mining operations and has been involved in outlining +10Moz gold Salamis has held senior management positions with Placer Dome and discovery Cameco Corporation and has completed M & A transactions valued over $1B Dr. John Thomas , COO Edward Farrauto , CFO +38 years experience in the mining industry in several countries. His +20 years experience as CFO and Director of public companies, has experience covers a wide range of activities including process been involved in raising over $500 million of equity and debt and development, feasibility studies, management of construction and completed M & A transactions valued over $750 million operation of mines. Dr. Thomas is a professional engineer and has a B.Sc., M.Sc., and a PhD in metallurgical processing Mr. AJ Ali , Project Finance Advisor Doug Forster, M.Sc. P.Geo , Director Mr. Ali has +20 years experience in the mining industry and has been +30 years resource project development, M&A, equity finance and public involved with over $2B in M&A and project financings for mining company management, Mr. Forster is President & CEO of Featherstone projects. Previously Mr. Ali was the CFO and Director of Centenario Capital, he has been Founder and director of several public companies Copper Corp before its acquisition by Quadra FNX Mining and CFO of EuroZinc Mining Corporation before it merged with Lundin Mining. Francisco Arechaga Director of Corporate Affairs Lluís Boixet Country Manager Mining Engineering with ov er 30 years in the Galician Mining Industry. Over 25 years in exploration and development of gold and base metal Previously Mr. Arechaga held the position of Chief Director of the projects in the Iberian Peninsula Mina de Puentes, the largest open pit mine in Galicia
Ownership Share Structure Issued & Outstanding 104,694,437 Kinross Gold Corp 4% Warrants 15,900,000 15,900,000 @ 0.10 (2019) Mgmt & 666,720 Insiders 19% 666, 720 @ 0.47 (2015) Retail 45% Options 7,830,000 Fully Diluted* 129,091,157 Institutional Cash $1,100,000 32% January 2014 Market 8.0 Million Capitalization *If Edgewater delineates a NI43-101 compliant resource of 3Moz of gold in the M&I category on the Enchi Gold Project, then Kinross can exercise an additional 2.5M warrants at $0.50 and 2.5M warrants at $1.00 (included in the fully diluted number above).
• An autonomous region, all mine permits granted locally at the municipal and state levels (no federal approvals required), supportive from all levels of government • January 2013, Galician government approved the proposed 6,000 tpd Environmental Impact Statement (EIS). • Excellent logistics with roads, power and water amenable to low cost development Corcoesto Plant site Drawing
Open-pit constrained 1.2 Million Ounce Gold Resource with significant potential at depth and on strike NI 43-101 Pit Constrained Resource Summary (0.5 & 0.8 g/t Gold Cut-off) Cutoff Tonnes Gold Contained Gold Resource Class (g/t Au) (x1000) g/t (x1000 oz) Measured 0.5 14,910 1.34 644 Indicated 0.5 9,298 1.28 383 Measured + Indicated 0.5 24,208 1.32 1,027 Inferred 0.5 5,321 1.21 207 Measured 0.8 10,170 1.67 546 Indicated 0.8 6,065 1.63 317 Measured + Indicated 0.8 16,235 1.65 863 Inferred 0.8 3,733 1.44 173 1. Mineral resources were classified following the guidelines of the JORC Code (2012) an accepted reporting code in terms of Canadian National Instrument 43-101. 2. Mineral resources are constrained within a Whittle pit shell based on a gold price of US$1,400/oz. 3. Numbers may not compute due to rounding. 4. All grades have been quoted in grams per tonne (g/t) for the resource inventory. 5. Density values were assigned in relation to an oxide surface; no further distinction between fresh and oxide material has been made within this resource estimate. 6. There are no known legal, political, environmental or other risks that could materially affect the potential development of these mineral resources The September 2013 Corcoesto NI 43-101 Resource Estimate Technical Report was prepared by Jason Che Osmond, M.Sc., EurGeol., C. Geol., FGS, Senior Geologist, Micon International Co. Limited and a Qualified Person (“QP”) as defined by National Instrument 43 -101
(Nov 2011) Years 1-10 6,000 tpd (Base Case $US1300/oz) Average annual production (Au oz) 102,000 Average annual net revenue ($US M) 60.0 Metallurgical recovery (%) 89.1 Strip Ratio 8.0/1 Average annual net cost ($US/oz) 713 Capital cost ($US M) (17.5% Contingency) 160 Pre-Tax Financial Model** $1100/oz $1300/oz $1500/oz Payback (years) 5.6 3.4 2.5 IRR (%) 12 24 34 NPV (5%) (Million) 71 206 340 Average annual net revenue ($US M) 40 60 80 *The NI43-101 Preliminary Economic Assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized. The Corcoesto Gold Project PEA Technical Report dated Dec 30, 2011 was prepared by Alan Noble, P.E., of Ore Reserves Engineering Inc., a professional independent mining engineer registered in the State of Colorado, USA and a QP as defined by National Instrument 43-101. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. **The Spanish corporate tax rate is 30%, but the impact of taxes on the project would be much less after allowances for depreciation, and structure of the local and international corporations. *Slide 09 includes the updated NI 43-101 resource estimate, the PEA economic details use the older (2011 resource estimate for these PEA calculations)
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