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DISCLAIMER This presentation does not constitute investment advice. - - PowerPoint PPT Presentation

DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any


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SLIDE 1
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SLIDE 2

DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, Calidus Resources Limited (the Company or Calidus) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements,

  • pinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Calidus. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Calidus does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. COMPLIANCE STATEMENT The information in this presentation that relates to Exploration Results and Mineral Resources released previously on the ASX. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that, in the case of mineral resources estimates, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. Mr Daniel Saunders is principal and a full time employee of GeoServ Consulting Pty Ltd, and is a Member of the AusIMM. Mr Daniel Saunders has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code. Ms Jane Allen is a full time employee of the Company, and is a member of the AusIMM. Ms Jane Allen has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activates undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code.

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SLIDE 3
  • Gold belt consolidated for the first time
  • Existing Resource of 410,000oz at 2.2g/t from surface
  • Significant exploration upside defined with immediate

drill targets, with enhanced target base following Novo JV HIGH QUALITY ASSET AGGRESSIVE EXPLORATION PROGRAM

  • Well funded with ~$11m cash following recent capital

raising

  • Strategy to rapidly expand resource via brownfields

extensions to current mineralisation and regional targets

  • Resource Upgrade due late 2017

PROVEN MANAGEMENT

  • Experienced in all aspects of project development from

exploration through development and into production

  • Raised significant capital for gold exploration and

development

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SLIDE 4

CAPITAL STRUCTURE

SHARES ON ISSUE

994.2

Million

MARKET CAP

(undiluted at A$0.044)

$43.7

Million

CASH

(end Sep Qtr)

$11

Million

DEBT

$0

ENTERPRISE VALUE

$32.7

Million

OPTIONS

(will raise $4.7m if exercised)

192.5

Million1

PERFORMANCE SHARES A- 250 Million2 B- 275 Million3

BOARD OF DIRECTORS & MANAGEMENT

KEITH COUGHLAN

NON-EXECUTIVE CHAIRMAN

(Corporate) 30 years’ experience in stockbroking and funds management on ASX, AIM and TSX. Talga, European Metals, Southern Hemisphere Mining.

DAVID REEVES

MANAGING DIRECTOR

(Mining Engineer) 25 years’ mining experience in Australia, Africa and Europe. GCM, Delta Gold, Zimplats, European Metals Holdings.

ADAM MIETHKE

NON-EXECUTIVE DIRECTOR

(Geologist) Over 15 years’ experience in exploration and mine geology, funds management and corporate advisory. Rio Tinto, Snowden, Regent Pacific Group, Argonaut.

PETER HEPBURN-BROWN

NON-EXECUTIVE DIRECTOR

(Mining Engineer) 35 years’ international mining experience, managing gold mines in Australia and internationally, Medusa Mining, Focus Minerals.

JANE ALLEN

GEOLOGY MANAGER

30 years international experience with Anglogold Ashanti, Resolute Mining Limited, Avion Gold Corporation and GCM

JAMES CARTER

COMPANY SECRETARY AND CFO

CPA and Chartered Company Secretary with 20 years’ experience. Straits Resources, Keras PLC.

1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c 2. On 500,000 ounces of Indicated Resource 3. On completion of a positive PFS 4. Undiluted assuming approval of Tranche 2 placement

* Keras PLC shares escrowed for 24 months, CAI board and management own 18 % of Keras

3% 4% 18% 31% 44%

CAI Shareholder Breakdown4

Board & Mgmt Direct Board and Mgmt via Keras Keras Plc* Institutions Other

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SLIDE 5

ASX LISTING

Listing of Calidus Resources (ASX:CAI)

  • nto the ASX

22/06/2017

EPMINEX CONSOLIDATION

Further consolidation of tenements at Warrawoona

CAPITAL RAISE

$10 million

  • versubscribed

institutional raise

DRILL PROGRAM

12,600m drill program and met test work – June 2017

NOVO JOINT VENTURE

Joint Venture of Novo tenements Sep 2017

EXPANDED PROGRAM

Expanded drilling program to commence at Klondyke East

COMPLETED

Maiden drill program that has delivered

  • utstanding

results to date

RESOURCE UPDATE

Warrawoona resource update in late 2017

2018 EXPLORATION PROGRAM

RC and diamond drilling program, mapping, soils

PFS

Potential commencement in H2 2018

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SLIDE 6
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SLIDE 7

HISTORICAL GOLD MINING DISTRICT

  • First mined in 1897
  • +200 historic mines and

fragmented tenement ownership

  • Last major drill campaign in 1991

PROJECT HIGHLIGHTS

  • 363km2 under control, application
  • r option
  • Novo JV signed that has expanded

footprint considerably via the 70% earn in to the Novo Tenements that total 184Km2.

  • 15,000m resource and infill drill

campaign completed with a resource update expected late this calendar year.

  • 1. Reported in accordance with JORC (2012) Guidelines – Includes Klondyke and Copenhagen
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SLIDE 8
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SLIDE 9
  • Current Resource:
  • 5.6Mt at 2.08g/t Au for 374,000oz (0.8g/t wireframe)
  • Confined to just 2km of 7.5km strike of Klondyke shear
  • Large, high grade intercepts in drilling
  • Metallurgical test work to 150m depth shows free milling
  • re with recoveries of 93% to 96%
  • Clear exploration strategy to test infill zones and

extensions to current resource

  • Predictable geology, open along-strike and down-dip
  • Untested parallel veins and cross-cutting features
  • A total of 15,611m has now been drilled since listing in

early 2017 with all drill holes intersecting ore grade mineralisation.

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SLIDE 10
  • 78% of historical drilled intercepts are shallower than 100m
  • Defined mineralisation extends 7.5km along strike with large number of workings
  • No geophysics and no or very limited exploration and testing of parallel structures
  • Tangible upside via infill and extensional drilling

* All grades shown are life of mine average grades – source MINDEX

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SLIDE 11

INITIAL DRILL PROGRAMME

  • 92 holes announced, best intercepts recorded 6m @ 63.31g/t Au and 27m@5.85g/t Au
  • All holes have hit ore grade mineralisation to-date including all holes in gap zone.
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SLIDE 12
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SLIDE 13
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SLIDE 14
  • Located 20km south east of Marble Bar
  • 2 hours drive from Port Hedland on sealed road –

Australia’s largest port

  • All weather, council maintained road from Marble

Bar to leases

  • Access to fresh water
  • Sealed airstrip in Marble Bar
  • Mining Registrar located in Marble Bar
  • Accommodation for 100 in single rooms
  • Mad Clappin Harry’s, the best coffee in the NW!
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SLIDE 15
  • Further upside via additional largely unexplored multiple shears immediately parallel to

(St George Shear) and west of main shear

  • Novo JV now puts Calidus in control of the entire Warrawoona Greenstone Belt
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SLIDE 16

FIELDINGS GULLY

  • Recent drilling shows mineralisation
  • pen in all directions, results incl.

16m @ 3.52g/t from 71m 8m @ 3.97 g/t from 22m 21m @ 1.85g/t from 55m COPENHAGEN

  • JORC 2012 Inferred Mineral Resource
  • f 180,000t @ 6.1g/t to maximum of

100m depth and along 140m of strike CORONATION

  • Lies 3km along strike of Copenhagen

and is drilled over 190m strike length 9m @ 5.21 g/t from 9m 8m @ 7.64 g/t from 64m 3m @ 16.67 g/t from 16m 12m @ 7.98 g/t from surface 2m @ 31.5 g/t from 30m

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SLIDE 17

REMOTE SENSING OVERVIEW

  • ASTER imaging received and being interpreted –

identifies prospective shears

  • Old aeromag reports have been sourced to assist

GROUND TRUTH

  • XRF analysis underway by CSIRO on drill chips and

core

  • Allows portable XRF to be used in field to
  • bjectively determine rock type and alteration

which enables detailed geological maps to be developed rapidly and accurately DETAILED GEOLOGY

  • Structural mapping by CSIRO
  • Allows ore models to be generated to allow

targeted drilling

  • Klondyke structural work shows vertical ore-

shoots predominant

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SLIDE 18

MARBLE BAR GOLDFIELD

  • Produced 170,000oz from 196,500t, no modern exploration
  • 35 recorded old workings on tenement – all less than 30m deep
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SLIDE 19
  • Conglomerates will form part of Calidus’

greenfields exploration program moving forward

  • 41km of strike outcropping Mt Roe

basalt, targeted stratigraphy for conglomerates

  • 36sqkm of Mt Roe basalt
  • Initial mapping underway with separate

team, flat nuggets identified near Marble Bar in initial reconaissance

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SLIDE 20

Resource Upgrade and PFS

  • Expand Resource
  • Increase confidence

Conglomerates & Greenfield Exploration

  • Assess the extent of

conglomerate outcrop

  • Identify new potential

drill targets Drilling Underway at Novo JV

  • Expand throughout

Warrawoona Greenstone Belt

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SLIDE 21

CAI S2R GOR DCN WAF GCY EMR EAR KIN CMM GPR ABU BSR CAS ORR PGO RTG AZM AUC RVY EGS

  • 0.5

1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5

  • 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000

Resource Grade (g/t Au) Resources Ounces

CAI

*Bubble Size Represents Enterprise Value 1. Data at 24 July 2017

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SLIDE 22
  • CAI, ARV, DEG and KAI all have recently announced significant investment by Novo or

Novo’s major shareholders –Sprott

  • Calidus share price increase based on tangible drill intercepts

1 2

1. Mid Mkt. Cap Index (>$25m) includes – CHN, HAO and VXR 18 Nov 17 2. Small Mkt. Cap Index (<$25m) includes – DGO, IPT, KZR, CDT, RTR and SUH

$- $0.02 $0.04 $0.06 $0.08 $0.10 $0.12 $0.14 $0.16 $0.18 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Common Base Share Price ($A/Share) CAI ARV DEG KAI Mid Mkt. Cap Index Small Mkt. Cap Index

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SLIDE 23
  • On a resource ounce basis, Calidus is significantly undervalued versus its Pilbara

peers, this undervaluation will increase on resource upgrade

  • This also applies on a km of conglomerate outcrop basis

1. Data at 19th November 2017

CAI KAI DEG ARV 50 100 150 200 250 300 10 20 30 40 50

EV Km of Strike of Mt Roe

EV(m)/km of strike Mt Roe Basalt (Bubble Size)

CAI KAI DEG ARV 50 100 150 200 250 300

  • 100,000

200,000 300,000 400,000 500,000 600,000

EV Ounces

EV/Resource Ounce (Bubble Size)

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SLIDE 24

A FRESH, WELL CAPITALISED STORY IN A TIER 1 JURISDICTION

✓GRANTED MINING LEASES in an emerging Australian gold district with

world class infrastructure ✓ EXISTING HIGH GRADE RESOURCE to be further increased by end of year ✓ POTENTIAL FOR NEW DISCOVERIES given lack of modern or systematic exploration and large number of existing targets ✓ PROVEN BOARD AND MANAGEMENT TEAM in gold exploration, development and mining ✓ One of the few INDEPENDENT NEAR-TERM GOLD DEVELOPMENT companies

  • n the ASX
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SLIDE 25

DAVE REEVES

Managing Director dave@calidus.com.au

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SLIDE 26

Deposit JORC Category Cut-Off Grade Tonnes(Mt) Grade Metal Au (g/t) Au (g/t) (Koz) Klondyke Inferred 0.5 5.6 2.08 374 Copenhagen Inferred 0.5 0.18 6.1 36 Total 0.5 5.78 2.21 410