AuCu - - PowerPoint PPT Presentation

AuCu

A Near-Term Development Opportunity

• Dominant land package in the prolific Lac Dore (Chibougamau) camp
• Excellent infrastructure (past permitted mill and tailings)
• Numerous deposits with substantial upside:
• Corner Bay – First drilling program successfully expanded ore resources by 97%
• Cedar Bay – First drilling establishes maiden resource 1.9% Cu, 8.61g/t Au
• Devlin Deposit – near surface deposit grading ~2.5% Cu
• Dore Lake Ramp – high-grade gold/copper zone close to Copper Rand (mill)
• Opportunity to further consolidate the camp through acquisition –

numerous prospective gold and base metal in area.

• Unique Copper/Gold deposits that provide commodity diversification
• Quebec is one of the world’s most favourable mining jurisdictions with

an attractive flow-through structure, experienced contractors and workers

• AmAuCu to acquire up to an initial 80% interest through an earn-in

arrangement from Ocean Partners by spending $10 million over 5.5 years and then one payment of $5 million in subsequent 2 years. Ocean Partners will represent a significant development partner for future production and have 100% off take of Chibougamau production AuCu

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Capital Structure and Experienced Team

Current Capital Structure: Insiders& Management 48% Ocean Partners 10% Orion Mine Finance 19.5% Resource Capital Fund 19.5% MANAGEMENT Mario Stifano

• CEO - Current CEO of Cordoba Minerals

Ewan Downie

• Chairman - Current President & CEO of Premier Gold Mines

Ernest Mast

• President and COO - Former President and CEO of Primero

Mining and Minera Panama, Inmet. 20 Years with Xstrata /Noranda / Falconbridge

Jean Tanguay

• General Manager - Former Operations Manager of Campbell

Mines

Andrey Rinta

• Exploration Manager – Former Senior Exploration Geologist,

Kinross, Russia

BOARD Brent Omland

• CFO, Ocean Partners

Matt Manson

• CEO, Stornoway Diamonds

Frank Balint

• Former VP Corp Dev and Exploration, Inmet Mining

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Chibougamau

Daily 1 hour 20 minute flights from Montreal 5 hours by car to Quebec City and Val d’Or Chibougamau located at 49o 50’ N and eligible for Plan Nord cooperation AmAuCu’s facilities are close to towns of Chibougamau, Ouje Bougamau and

• Chapais. Approximately

15,000 people and a long mining history Traditionally

• ne
• f

Quebec’s copper producing

• centers. No copper mines at

the present time

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AmAuCu Concessions and Claims

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Chibougamau AmAuCu Deposits

• Historic production: 37M T @ 1.75% Cu & 2.80 g/t Au
• 11. Shaft 3
• 12. Siderite Hill

11 12

High gold Low gold

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Lac Dore Area Deposits

• Historic production: 37M T @ 1.75% Cu & 2.80 g/t Au

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Previously Permitted Mill and Tailings Facility

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• Past operating 3,000 TPD mill &

tailings facility at Copper Rand

• Only updated Certificate of

Operations required as permit in place for concentrator and tailings

• Developed site with all supporting

infrastructure.

• Mill currently under review to

determine most efficient restart configuration.

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Copper Rand Tailings Facility

Lac Dore discharge point Less than 2 km from mill More than 10 years Capacity at 2,700 tpd Successful re-vegetation test done Tailings show no ARD Characteristics Requires minor work to reactivate permit

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Significant Resource Opportunity

Upside Potential

• MI & I 43-101 resources 520 M lb Cu Eq, 1.2 M Oz Au Eq.
• Corner Bay deposit increased by 93%. High grade maiden Resource

at Cedar Bay. Deposits are open in numerous directions.

• Discovery cost of first drill program was 1.9 cts/lb Cu eq or $8 /oz Au

eq.

• Camp has seen only limited exploration over the past several

decades and first drill program confirmed exploration potential.

• Historic deposits with upside at depth and along strike

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10 Tonnes Cu% Au g/t Tonnes Cu% Au g/t Tonnes Cu% Au g/t Copper Rand 1,924,159 1.69% 3.09 423,660 2.06% 2.71 Corner Bay 1,350,000 3.01% 0.29 1,660,000 3.84% 0.27 Devlin 412,404 2.48% 0.27 347,300 2.38% 0.21 Cedar Bay 136,000 1.49% 9.11 230,000 2.13% 8.32 302,708 0.97 5.45 Lac Dore Deposit 209,122 1.23 4.35 Shaft 3 Deposit 411,866 2.20

• Henderson II

123,595 1.70 2.47 Copper Cliff Siderite Hill 428,196 0.46

• Gwillam (50%)

153,705

• 10.20

Jaculet 103,420 1.70 0.96 TOTAL 3,822,563 2.23% 2.01 2,660,960 3.22% 1.35 1,732,612 1.18 2.61 M & I INFERRED HISTORIC

Corner Bay Mine

AuCu

Looking north

Main vein

Dyke

11 Cu, % Au g/t Ag g/t Indicated 1,351,103 3.02 0.29 5.12 Inferred 1,724,062 3.61 0.28 11.21 Total 3,075,165 3.35 0.28 8.53

Roscoe Postle Associates, 2018 Preliminary

Grade Category Tonnes

• $25M spent on development prior to 2009 – Access on 55, 75, 105m levels
• Near term production – Ore trucked to Copper Rand Mill (45 km)
• Excellent expansion potential at depth and along strike and other structures

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Corner Bay Mine

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Corner Bay Drilling –Under Dyke S

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Long Section looking east – every new hole intersected = good mineralization N S

F-44 1.85m @2% CB-05-94 1.8m @2.7% F-44W 1.8m @11.39% CB-05-96 1.09m @2.57% F-101 2.75m @9.56% CB-05-97 0.96m @1.75% No intercept/off plane CB-05-95 2.08m @4.56% CB-18-04 2.9m @ 4 % CB-18-03 2.9m @4.29% CB-18-03W4 1.5m @4.89% CB-18-02W2 2.81m @5.49% CB-95-01 12.09m @2.8% CB-05-93 7.07m @4.92% CB-18-07 13.3m @ 3.45% Including 5.1m @ 5.22% CB-18-05 2.45m @2.29% 2.0 m @ 2.18% 6.55m @ 4.11% CB-18-06 12.3m @ 2.33% Including 4.8m @ 3.84%

Dyke Historic 2018

Interpreted vein

Open to the south and down dip

Resources can also be expanded above dyke

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Corner Bay Drilling – Deep Area

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Long Section looking east N S

Interpreted Vein 2%+ Cu grade shell

Open up dip to possibly connect to vein just below the dyke (300m of open ground vertically)

New Resource Estimate 534,000 t @4.7% Cu average within 2%+ grade shell (>2m thick), 8% Cu Cap

CB-05-92 6.7m TW @9.27% Cu CB-17-01 2.54m @6.3% Cu CB-17-01W3 2.5m @3.8% Cu CB-17-04 10.8m @2.95% Cu CB-17-04A 3.3m @ 6.27% Cu

Two off-plane intercepts 5.54m @ 2.54% Cu 2.61m @ 3.73%Cu

Historic 2017

Further Exploration Upside – Corner Bay

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• Dominant land position in the Corner Bay area – 2,668 ha additional land acquired

in an option agreement. New acquisition with 4 strong geophysical targets.

• Open areas around main vein and parallel veins to with significant exploration

potential

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450 m east of main vein 6.47m @4.95% Cu, wide open to the south and down dip. Significant open area north and up dip

• Western

structure Four intersections 2.91% Cu/2.24 m.

Cedar Bay Mine & Copper Rand

• Cedar Bay Historic production: 3.8M T @ 1.57% Cu & 3.12 g/t Au
• Potential to access Copper Rand from Cedar Bay shaft or vice versa

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C.R. 5000 zone

M&I 1,127,000 tonnes 1.8% Cu, 2.81 g.t Au

Cedar Bay: 2018 Early Drilling

100m

Property Boundaries Collar Locations Projection System: NAD83 Zone 18N Mineralized Veins

Historical Mine Site

• 3.8 MT @ 1.57% Cu & 3.12g/t Au
• Mining production stopped at 2200 level;

existing shaft extends to 3,400ft

• At time of closure Resource of 300 kt @

0.97% Cu and 0.16 opt Au (5.5 g/t)

2018 Collar Location

• Optimal orientation to vein system
• Minimizes proximity to existing

underground infrastructure

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S

2.4m @ 1.67%Cu, 19.5 g/t Au 1.4m @ 0.55%Cu, 4.9 g/t Au, 1.1m @ 0.6%Cu, 10.2 g/t Au 2.4m @ 4.54%Cu, 15.4 g/t Au Cu, 23 g/t Au Cu

Cedar Bay Drilling, 10-20 Zone, East Structure

Existing mineshaft

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16 g/t Au feet

Historic 2018

CB 27-9. 100 m past this structure 3.4m @ 3.36 %Cu, 14.9 8/t Au. Open along strike, down dip and 150m updip

Cedar Bay – Future Drilling

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Main Zone 2.7m, 0.6% Cu, 3.3 g/t Au 1.6m, 0.4% Cu, 4.2 g/t Au (not in Resources) Shallow zone 1.3m, 4.9% Cu 1.8m, 2.7% Cu (not in resources)

Cu, % Au g/t Ag g/t Indicated 141,077 1.49 9.11 9.94 Inferred 232,300 2.16 8.44 12.7 Total 373,377 1.87 8.73 11.49 Category Tonnes Grade 2.6 g/t Au cut-off

Roscoe Postle Associates, 2018 Preliminary

3.4m @ 3.36 %Cu, 14.9 8/t Au.

and along strike.

Lac Dore Deposit Area

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Lac Dore Mineralization Zone Double Ramp installed Lac Dore Mineralization Zone Double Ramp installed Copper Rand Copper Rand

0 500m

Amaucu Property Boundary Amaucu Property Boundary Cedar Bay Cedar Bay

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S Section 10250E Looking West

50m Clipping

0 70m

160 Level Plan View N

• Sericite corridor to the NW, NE, SE remains open along

strike and could host potential drilling targets. West at depth is open towards the Lac Dore fault.

• Complex relationship between the faulting and geology

must first be understood before targeting an area.

0 100m

Section 10250E

Anorthosite Existing Drillhole Mineralized Veins Sericite Alteration Fault 160L Infrastructure

• Sericite-altered rocks host the known Au veins
• Faults often off-set the veins
• Sericite alteration thins with depth
• Core of deposit well drilled from surface and underground

2850 elv 2950 elv 2750 elv 10000N 10200N 10400E 10200E 10000E

Lac Dore Deposit – Plan and Cross Section

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Devlin Deposit

• Near-surface, flat-lying deposit. No vertical feeders identified
• Located within 80 m of surface and has an existing decline to mineralized zone
• 15,530 T bulk sample (1982) graded 1.78% Cu.

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Potential short term mill feed.

Portage Island, High Grade Cu-Au Intersections Large Fe-Ti-V deposits

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Baie du Commencement Very high grade + 3 oz/t Au + 6% Cu Narrow intercepts in 1956 Hematite Bay Gold zone. CBAY drilled 4 holes in 2012 Magnetite Zones 15 - 25% Fe, 1% TiO2, V Property Boundary McKenzie Vein. CBAY drilled 20 shallow holes in 2012-13. Including 4 m 2.3% Cu, 1.2 g/t Au 5.4m 1.1%Cu, 4.5 g/t Au 2.7m 5.9%Cu, 5.2 g/t Au Lac du Portage Unexplored structural feature

Exploration Upside – Mannard & Gwillam

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• Lac Mannard - 2600 Ha property staked. Large Geophysical anomalies on Joe

Mann (gold) Mine trend

• Intersections of 40m + holes with high of 45% sulfides amongst few holes

drilled to the north of high Mag anomaly that has never been drilled.

• 50% of the former Gwillam operating gold mine NW of Chibougamau in a JV

with Argonaut Gold. Company’s share 153,000 tonnes @ 10.2 g/t Au. Gwillam open on plunge.

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Chibougamau: MegaTEM (CND db/dt)

5 km

CND (db/dt)

High : 752.186 Low : 2.22868 Property Boundaries

Amaucu Mining Corporation

Eaton Bay Tailings and Copper Rand Mill Copper Rand Tailings Mine Principale Tailings

Chibougamau

Campbell aborted Portage intercept shaft Cedar Bay Mine Lac Dore Shaft 3 Bateman Bay Portage Henderson I Henderson II

2018 Preliminary Megatem Targets MEGATEM Penetration to 250 meters. Attempting to identify targets that were historically missed. 2018 plan includes a 3D interpretation of the MEGATEM

AmAuCu's Assets – Rare and Coveted

• High grade Cu-Au in stable jurisdictions is very rare and
• coveted. Recent transactions of Avanco and Peak mines

indicate potential value.

• Ero Copper, Rambler and Aeris resources value as of Sept 24, 2018

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Company Valuation or sale, M$ CDN Cu Eq Grade Cu Eq. Resource, MI &I, M lbs Copper Eq Production, M lbs /yr Ero Copper 970 2.26% 1020 60 Avanco 418 2.61% 1196 35 Peak Mines 74 2.98% 548 59 Rambler 35 2.15% 409 16 Aeris Resources 89 1.50% 705 52 AmAuCu 1500 tpd* ?? 3.60% 520 46 Production - Corner Bay 750tpd - 1,200 Cedar Bay 300 tpd- Copper Rand 700 tpd year 6

Stakeholder Engagement

• Major stakeholders have been presented the AmAuCu story
• Cree Nation based in Ouje Bougamau. Experienced with mining and

natural resources. Currently discussing a pre-development agreement and eventually an IBA

• Municipality of Chibougamau.
• MERN - Closure plans to be developed for each deposit after mine restart

plans developed.

• MDDELCC – Approval for small remediation projects obtained.
• Plan Nord. Cooperation in development of mines
• Societe Development du Baie James
• SOQUEM: Partner on Tortigny property and neighbor in a few areas in the

Chibougamau Camp

• Discussions with numerous other companies in the area

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Summary

• Private

Company with

• ne
• f

Canada’s premier near-term development

• pportunities

in mine-friendly Quebec.

• Excellent infrastructure with past
• perating mill and tailings.
• Company’s resources holds 520

M lbs Cu Eq or 1.23 M oz Au Eq in 43-101 deposits. Substantial exploration upside.

• Opportunity to further consolidate

the camp through acquisition.

• Unique Copper/Gold deposits that

provide commodity diversification

• Financial partnerships provide the

potential for future financing for

• perations

(offtake / advance sales and solid investors)

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Appendix

Resource Calculations Notes

• Corner Bay
• RPA October 2018
• Minimum Mining width 2 meters
• 1.5% Cu cutoff
• Cedar Bay
• RPA October 2018
• Minimum Mining width 2 meters
• 2.6 g/t Au cut-off
• Devlin
• AGP February 2015
• Copper Rand
• SGS January 1st 2016