CSE:FENX | OTC:FDVXF | Frankfurt:FD8 July 2020 CSE:FENX TSX-V:FXO - - PowerPoint PPT Presentation

CSE:FENX TSX-V:FXO | OTCQB: FXOC

CSE:FENX | OTC:FDVXF | Frankfurt:FD8 July 2020

CSE:FENX

Cautionary Note

This presentation includes certain statements that may be deemed to be forward-looking. All statements in this presentation, other than statements of historical facts, that address events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include availability of capital and financing, commodity prices, and general economic, market

• r business conditions. Readers are cautioned that actual results or developments may differ materially from those projected in the forward-looking

statements. Neither the Canadian Securities Exchange (CSE or CNSX Markets Inc), nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including the implementation of the arrangement as described in the circular which depends on various factors and implementation by the Company’s board of directors. The company disclaims any intention or

• bligation to revise or update such forward-looking statements unless required by applicable laws.

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Why Fenix Oro?

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• Multiple Rich Target Styles And Areas
• Entering The Most Exciting Phase Of Exploration

For Early Stage Investors

• Favourable Capital Structure With Warrants

Providing Built-in Financing

• “Best Address” On One Of The Most Prolific Gold

Belts In The World

• Next Door Neighbour To One Of Largest, Highest

Grade Gold Projects In The World

• Exploration Led By Stu Moller, A Leading Expert

On This Emerging Gold Producing Region, Who Discovered Continental’s Buritica (>11 Moz Au)

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Why Colombia? Why Colombia?

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• World Class Discovery Potential
• Leaders In The World For Low Cost Of Discovery And

Production

• Federal Government Initiative To Drive Investment Growth In

Mining & Resource Industries

• USD $25 Billion National Infrastructure Investment Program
• Mining has been deemed an Essential Industry and exempted

from COVID-19 isolation restrictions

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Abriaqui Project

Location & Overview

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• 150 road km northwest of Medellin in Antioquia State and 4 km from the

paved Panamerican highway

• Drive-in exploration with a 12-month work season in one of the safest work

areas in Colombia

• Historical mining district with sufficient water and electricity for any future

project needs

• Known mineralization from 1,900 – 2,800m elevation well below Colombia’s

paramo restricted zone

• At the northern end of the 200 km Middle Cauca geologic trend where over 80

million new ounces of gold have been discovered since 2007 including Continental Gold’s Buritica, Anglo Gold’s Nuevo Chaquiro and La Colosa, and Gran Colombia’s Marmato deposits

• 15 km west of the 11+ million ounce Buritica gold deposit in a similar geologic

setting

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Google Earth image of the project area showing proximity to the Panamerican Highway and mapped high grade gold veins

Abriaqui Project

Areas of Known Mineralization

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Abriaqui Project

Mineralization

• Upper Miocene age diorite stock intrudes Cretaceous

thin-bedded sediments with formation of a hornfels zone

• Three styles of mineralization: veins with associated

stockwork, manto-style replacement in sediments, and mineralized potassic alteration possibly representing the upper part of a gold porphyry system

• Over 80 closely-spaced pyrite-pyrrhotite +/- cp-sph-gl-

asp veins are developed in the diorite and hornfels zone

• Veins crop out over the entire 800+ meter vertical extent
• f the property
• Work to date consists of detailed geologic mapping,

surface and underground rock sampling, hand trenching, preliminary petrographic studies, ground magnetics, and preparation of a NI 43-101 Technical Report

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Abriaqui Project

Comparison with Buritica Deposit

• Buritica is a high grade gold vein deposit 15 km east of Abriaqui with +11 million
• unces in resources
• Similar geologic setting with upper Miocene diorite intruding Cretaceous fine

grained sediments

• Both deposits with 80+ closely-spaced, high grade veins developed in 500m wide

corridors with many areas of interstitial, lower grade mineralization

• Ore grade veins at Buritica drilled over 1,200m vertical interval with upper level

carbonate base metal veins, and gold bearing py-po veins and a magnetic body modelled as a gold-bearing porphyry at depth (source: Continental Gold reports & releases).

• High grade (+20 g/t Au) py-po bearing veins at Abriaqui are undrilled but crop out
• ver a +800m vertical interval. Magnetic body with outcropping potassic

alteration just breaching the surface.

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Note: map & inset are the same scale

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Closely-spaced 20 - 150 cm thick veins Zones of stockwork mineralization

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Abriaqui Project

Gold Values in Veins

• All of the 80+ veins mapped in the project area

are gold bearing with more than 20 having assays in excess of 20 g/t gold and up to a max

• f 146 g/t gold.
• Several mapped outcrops contain 1-5 g/t gold in

quartz-sulfide stockwork and veinlet swarms.

• Gold is free-milling as shown by the production

from small water-driven gravity separation mills

• n the property
• Silver:Gold ratio (Ag:Au) averages about 2:1 with

a potential Cu-(Pb-Zn) by-product credit

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Abriaqui Project

Phase 1 Work Plan

• US$2.9 million, 18-month work program began in

March 2020

• Expand ground magnetometry grid with 3D modelling

to cover entire property

• Soil sampling with multi-element analysis
• Detailed alteration mapping
• Detailed channel sampling on manto zone
• Finalize permitting for drill program
• Two-phase 6,000m diamond drill program with first

3,500m testing veins and porphyry model

• First holes targeted to intersect veins that sampled

21.1 g/t Au, 30.4 g/t Au, and 55.4 g/t Au

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Why Fenix Oro?

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• Fully-funded* 24-month US$2.9 million exploration & drill program
• Spending requirement US$1.6 million over 36-months to earn 90%
• Plan includes small production facility for existing small miners
• Aggressively evaluating additional project acquisitions in the immediate area as

well as secondary opportunities

* Assuming the exercise of the outstanding in-the-money warrants

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Management & Directors

John Carlesso, CEO & Director

• Mr. Carlesso has over 25 years of international business experience in the financing, development, and stewardship of companies in the mining, technology and special

situations sectors. While Mr. Carlesso has been a founder and director of both public and private companies, he has had a particular focus on mining in Latin America for the past 18 years. Mr. Carlesso was Vice President of Corporate Development for Desert Sun Mining, which was acquired for $750 million by Yamana Gold in 2006, in addition to co-founder and Executive Chairman of Explorator Resources which acquired by Pucobre in 2011, a publicly listed Chilean mining company. Mr. Carlesso is a graduate of Western University with a B.A. in Economics.

Stuart Moller, VP of Exploration & Director

• Mr. Moller has 40 years' experience in international mineral exploration. Stuart has held senior roles with Barrick Gold and Pan American Silver, and as Vice President

Exploration at Continental Gold he led the discovery of the Buritica gold deposit (acquired by Zijin Mining for $1.327 billion). Mr. Moller holds a B.A. Geology with Honors from Colgate University and a Master of Science, Geology from the University of North Carolina at Chapel Hill.

Xavier Wenzel, CFO

Xavier Wenzel assumed the role of Chief Financial Officer of the Company effective July 1, 2019. Mr. Wenzel's responsibilities include ongoing accounting, risk management, financial reporting, maintenance of internal accounting procedures and preparation of required financial reporting and information circulars. 12

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Independent Directors

Keith Minty, Independent Director

• Mr. Minty is a mining engineer with over 35 years of mine development and operating experience. From 1997 to 2003, Mr. Minty was President and CEO of North American

Palladium Ltd. where he was responsible for restructuring the LDI mine with a C$350M IPO and developed it into the world’s fifth largest platinum group metal producer. From 2008 to 2013, Mr. Minty was the Chief Operating Officer at Thani Dubai Mining where he was responsible for all project exploration and operation activities in Yemen and Egypt as well as new business development activities. Mr. Minty currently is a director of Rover Metals, DNI Metals and Callinex Mines. Mr. Minty obtained a B.Sc. in Mining Engineering from Queen’s University, Kingston Ontario, Canada in 1978 and an MBA from Athabasca University in 2014.

David Mitchell, Independent Director

• Mr. Mitchell has over 30 years of experience in the Canadian finance industry, having been employed by a number of intermediate and boutique size investment firms in

roles ranging from a floor trader to being a director and officer. Mr. Mitchell is the founder and CEO of Stillbridge Ventures Inc., a corporate consulting and advisory firm to small and emerging businesses. Mr. Mitchell has also facilitated a number of underwritings of CPC’s, in addition to holding officer and director positions in both CPC’s and TSXV-listed companies. 13

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Comparables

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Company Ticker MCap (C$) Project (s) Location Stage Continental Gold (acquired by Zijin in 2020) 1,400.0 Buritica Colombia Construction Fosterville South Exploration Ltd. TSXV:FSX 193.9 Lauriston & Golden Mountain Australia Exploration Adventus Mining Corporation TSXV:ADZN 156.9 Curipamba (75% earn-in) Ecuador PEA (2019) INV Metals Inc. TSX:INV 133.8 Curipamba (25% free-carry) Ecuador PEA (2019) Royal Road Minerals Limited TSXV:RYR 89.5 Colombia (11) & Nicaragua (3) Colombia Exploration Luminex Resources Corp. TSXV:LR 77.2 Condor Ecuador Exploration Cordoba Minerals Corp. TSXV:CDB 80.2 San Matias Colombia PEA (2019) Antioquia Gold Inc. TSXV:AGD 38.0 Cisneros Colombia Production Silver Viper Minerals Corp. TSXV:VIPR 35.4 El Rubi Mexico Exploration Outcrop Gold Corp. TSXV:OCG 35.8 Santa Ana, Cauca & Mallama Colombia Exploration FenixOro Gold Corp. CSE:FENX 38.1 Abriaqui Colombia Exploration Market data as of July 14, 2020

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Capital Structure

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Shares (M) C$(M) Basic Shares O/S 73.32 Current Cash 1.80 Warrants 13.24 ITM Warrants* 1.76 8.9M at C$0.10 exp Nov 2021 ITM Options* 1.58 4.0M at C$0.20 exp May 2022 Total Cash & Potential Proceeds 5.14 0.3M at C$0.20 exp Sep 2020 Options 5.98 Basic Market Cap.* 38.1 6.0M at C$0.26 exp in 2.9 yrs Enterprise Valuation* 36.3 Fully Diluted 92.55

* Assumes $0.52 /sh price

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John Carlesso, CEO & Director jcarlesso@fenixoro.com Fenix Gold Inc 350 Bay St., Suite 700 Toronto, ON M5H 2S6 CANADA 1-833-ORO-GOLD

Contact Info

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APPENDIX

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Geology and magnetics (reduced to the pole) showing magnetic anomaly opening to the south into area of porphyry- style alteration. Magnetics to be expanded to cover entire prospective area.

A B

Potassic alteration with quartz-magnetite stockwork (A) and secondary biotite (B).

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Abriaqui Project

Porphyry Gold Potential

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Abriaqui Project

Target Model

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