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T S X : S S L N Y S E . M K T : S A N D E S T D 2 0 0 8 A P R I L 2 0 1 6 CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Except for the statements of historical fact contained herein, the information presented constitutes
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Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements", within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Sandstorm Gold Ltd. (“Sandstorm”). 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, realization
Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Sandstorm to be materially different from future results, performances or achievements expressed or implied by such
in which Sandstorm will operate in the future, including the price of gold and anticipated costs. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, gold price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks relating to the parties which produce the gold Sandstorm will purchase, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level
including but not limited to: the impact of general business and economic conditions, the absence of control over mining operations from which Sandstorm will purchase gold and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the section entitled “Risks to Sandstorm” in Sandstorm’s annual report for the financial year ended December 31, 2014 available at www.sedar.com. Although Sandstorm has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. Sandstorm does not undertake to update any forward looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
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OVER 100 NEW STREAMS & ROYALTIES In Last 24 Months
US$1.6 Million
1 royalty buy back
Pinecrest Resources
US$30 Million
Karma Stream
JAN FEB MAR APR FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN MAY APR JUN JUL AUG SEP OCT NOV DEC
US$4.6 Million
13 royalties
Gold Royalties
US$1 Million
Akorade Royalty
US$400,000
8 royalties
Nyrstar
US$44 Million
8 streams/royalties
SND Acquisition
US$0.5 Million
3 royalties
Pacific Ridge
US$19 Million
55 royalties
Teck
US$152 Million
2 Streams + 1 NSR
Yamana Alexandria Minerals
US$50,000
8 Nevada Royalties
US$3 Million
Bomboré Royalty
US$52.2 Million
Diavik Royalty
2 royalties
US$1 Million
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OPERATING CASHFLOW BY COUNTERPARTY
46% 57% 33%
10%
31% 23%
8% 4%
88%
in 2013 in 2016 in 2019 Majors Mid-tiers Juniors
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COUNTERPARTY UPGRADES Majors Mid-tiers Juniors
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OPERATING CASH FLOW AFTER TAX
* Cash flow figures exclude interest expense and approx. $6 million/yr of G&A
$1,200/oz Au, $15.00/oz Ag, $2.10/lb Cu
2016 2017 2018 2021 2020 2019
$20M $10M $30M $40M $50M $60M $70M
Streams
YA M A N A
Royalties $65M $53M
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ASSET UPDATES
Karma
True Gold Mining Inc.
Grade (g/t Au) Design pits Resource optimization pits
North Kao Deposit
100 1499500.0 N 200 300m
0.10–0.20 0.20–0.50 0.50–0.75 0.75–1.00 1.00–3.00 > 3.00
North Kao Kao
1499000.0 N 1498500.0 N 1498000.0 N 1497500.0 N
Expansion
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ASSET UPDATES
Karma
True Gold Mining Inc. North Kao Deposit
Expansion 6.0m @ 29.5g/t Au 70.5m @ 1.9g/t Au 5.6m @ 12.61g/t Au 7.1m @ 6.6g/t Au 16.3m @ 0.9g/t Au 22.5m @ 2.4g/t Au 76.0m @ 0.5g/t Au
Drill Discoveries
New Drill Ready Targets
Significant Gold Anomalies
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Hot Maden
Mineral Reserves and Resources
ASSET UPDATES
Open Open HTD-17 Au-Zn Zone Overburden 850m 800m 700m 650m 600m 750m Planned Drillhole Planned Drillhole H T DFigure 3: Hot Maden – Cross Section 4,542,250N
Zn Zone Au-Cu Zone
Overburden
? ?
LATE STAGE ANHYDRITE FLOODING 650m 600m 550m 500m 740600E 740500E 740400E 740700E 740800E 700m 750m 800mH T D
9 H T D
8 H T D
5 H T D
H T D
4 H T D
2 H T D
1
36.3m @ 21.7 g/t Au, 5.5% Cu 100.2m @ 5.6 g/t Au, 1.3% Cu 117.3m @ 13.9 g/t Au, 2.0% Cu 108.2m @ 3.0 g/t Au, 1.3% Cu 126.0m @ 0.3 g/t Au, 0.6% Cu 200m Overburden Au-Cu Zone Zn Zone Anhydrite Zone 50mLooking North
Figure 4: Hot Maden – Cross Section 4,542,200N
Overburden
600m 740700 650m 550m 500m 450m 400m 350m 300m 700m 750mZn Zone
740600 740800 800m 850mAu-Cu Zone
H T D
H T D
6 H T D
3 H T D
H T D
4 H T D
5 H T D
? ?
LATE STAGE ANHYDRITE FLOODINGOpen
71m @ 32.7 g/t Au, 1.99% Cu 63.6m @ 14.5 g/t Au, 3.4% Cu 82m @ 20.4 g/t Au, 1.9% Cu 109.9m @ 11.9 g/t Au, 1.1% Cu 100.7m @ 2.3 g/t Au, 1.8% Cu 6m @ 0.8 g/t Au, 0.6% Cu 10m @ 0.6% Cu 17m @ 0.7% Cu 200m Overburden Au-Cu Zone Zn Zone Anhydrite Zone 50mLooking North
Figure 5: Hot Maden – Cross Section 4,542,150N
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Black Fox
Primero Mining Corp.
ASSET UPDATES
Froome Zone
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Black Fox
Primero Mining Corp.
ASSET UPDATES
Froome Zone
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144 Gap
Lake Shore Gold Corp.
ASSET UPDATES
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144 Gap
Lake Shore Gold Corp.
ASSET UPDATES
8 Timmins West Mine
Near-Term Exploration Targets
Gold River Trend TC–144 Trend Gold River Deposit
M&I: 690k tonnes @ 5.3 gpt (117k oz) Inferred: 5.3M tonnes at 6.1 gpt (1.0M oz)
Timmins Deposit Thunder Creek 144 North
144
South 144 Gap SW Zone Discovery
(Within 200 m of 144 Gap Zone)
144 Gap 144 Gap Deposit
Indicated: 1,734,000 tonnes @ 5.41 gpt (301.7k oz) Inferred: 1,914,000 tonnes @ 5.19 gpt (319.2k oz)
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