Exploration Discovery Value Creation
Investor Presentation
September 2018
District Scale Gold-Copper Exploration First World Mining Jurisdictions
TSX-V: AVG
Investor Presentation September 2018 District Scale Gold-Copper - - PowerPoint PPT Presentation
Investor Presentation September 2018 District Scale Gold-Copper Exploration First World Mining Jurisdictions Exploration Discovery Value Creation TSX-V: AVG Avidian Gold Forward Looking Statements This presentation ( Presentation )
TSX-V: AVG
This presentation (“Presentation”) contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Avidian Gold Corp. (“Avidian”). Forward-looking statements include estimates and statements that describe Avidian’s future plans, objectives or goals, including words to the effect that Avidian or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Avidian, Avidian provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and
information in this presentation includes, but is not limited to, Avidian’s objectives, goals or future plans, statements, exploration results, potential mineralization, Avidian’s portfolio, treasury, management team and enhanced capital markets profile, the proposed private placement, the timing of the Transaction, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, problems, expenses, difficulties, complications and delays frequently encountered in connection with the establishment of any business, failure or inability to complete the Transaction on the terms as proposed, failure to obtain the required approvals of regulators, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, unprofitable efforts resulting not only from the failure to discover mineral deposits but also from finding mineral deposits that, though present, are insufficient in quantity and quality to return a profit from production, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry. There is no assurance that Avidian’s mineral exploration and development activities will result in any discoveries of commercial bodies of ore. Mining exploration requires ready access to mining equipment such as drills, and crews to operate that equipment. There can be no assurance that such resources will be available to Avidian on a timely basis or at a reasonable cost. Unusual or infrequent weather phenomena, sabotage, or
projects depends upon Avidian’s ability to obtain financing through equity financing, joint ventures, debt financing, or other means. There is no assurance that Avidian will be successful in obtaining required financing as and when needed. There is no guarantee that Avidian’s title to such properties will not be challenged or impugned or that the appropriate permits and approvals will be obtainable on reasonable terms or on a timely basis; the licenses will be renewed upon their expiry; and that Avidian will be able to explore its properties as permitted or to enforce its rights with respect to its properties. Although Avidian believes that the assumptions and factors used in preparing the forward-looking information in this presentation are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this Presentation, and no assurance can be given that such events will occur in the disclosed time frames or at all. Avidian disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Notice to Canadian Residents The Presentation is not, and under no circumstances are to be construed as, an advertisement or a public offering of the securities referred to herein. The Presentation is not an offer to sell securities of Avidian and is not a solicitation of
the contrary is an offence. No person has been authorized to give any information or to make any representation other than as provided for herein. Notice to U.S. Persons The Presentation is not, and under no circumstances are to be construed as, an advertisement or a public offering of the securities referred to herein. The Presentation is not an offer to sell any securities of Avidian and is not a solicitation of
No securities commission or similar authority in United States has reviewed or in any way passed on the merits of the securities described herein and any representation to the contrary is an offence. No person has been authorized to give any information or to make any representation other than as provided for herein. U.S. investors are advised that the terms “inferred” and “indicated” resources are recognized and required by Canadian regulations, however the U.S. SEC does not recognize the terms. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories would ever be converted to reserves.
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TSX-V: AVG
Industry experienced leaders Track record of deposit discovery and success Multi-faceted technical & business expertise
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(1) Source: Fraser Institute Annual Survey of Mining Companies 2016 Investment Attractiveness Index
Operate within mining friendly jurisdictions of North America Advance high quality portfolio up the value chain Fill the gap in the discovery pipeline for new deposits
Located within well endowed mineral belts in Alaska and Nevada Alaska ranked 14th by the Fraser Institute(1) Nevada ranked 4th by the Fraser Institute(1)
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Ticker Symbol TSXV: AVG Issued and Outstanding Shares 56.0 M Warrants Outstanding 6.8 M Options Outstanding 4.9 M (1) Fully Diluted Outstanding 67.8 M Management & Directors Ownership 20% Debenture (May, 2019) $0.250 52 Week Range $0.20 - $0.70 Market Cap $30.0 M
(1) 4,440,000 options granted with exercise price of $0.60 – priced above last financing price of $0.50
Went Public in Dec 2017
Ø District scale property >15 km gold mineralized corridors; sparsely drill tested Ø Numerous high grade mineralization: 5 g/t Au to > 25 g/t Au plus Ag ± base metals Ø Expandable NI 43-101 resource estimate of ~300 Koz Au (Nov. 2016): open with untested peripheral gold targets Ø Two new major large scale gold ± base metals targets discovered in 2018, Assays pending in September
Ø Within a mining district that has produced +20 Moz Au Ø Directly on trend to the southwest of the 380,000 oz Au/year (0.45 g/t Au) producing Fort Knox Mine (Kinross) Ø Mineralization style analogous to Fort Knox, with grades > 1.0 g/t Au
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Tintina Gold Belt Golden Zone Amanita
Red Dog Pogo Fort Knox Usibelli Donlin Creek Nixon Fork Rock Creek
Operating Mine Late Stage Development Project
K a l t a g
i n t i n a F a u l t F a r e w e l l
e n a l i F a u l t
NORTHWEST TERRITORIES YUKON TERRITORY
CANADA ALASKA
Inuvik Fort McPherson Skagway
Juneau Whitehorse Anchorage
Homer Seward Valdez Kenai Nome Prudhoe Bay
Mackenzie Bay
BEAUFORT SEA GULF OF ALASKA BRISTOL BAY
PACIFIC OCEAN
Cook Inlet Kodiak Island Norton Sound
ALEUTIAN ISLANDS
Pribilof Islands
Fairbanks
Dempster Hwy
Dawson
K l
d i k e H w y A l a s k a H w y K
u k R i v e r Cloville River Noatak River Yukon River
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Ø Prime Location with Excellent Access
& Fairbanks.
Ø Underexplored Property Package
Intrusion Related Gold Systems
Ø > 15 km Mineralized Trend, with Follow-up Key Target Areas Defined
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JJ Zone Copper King to S Long Creek Trend Breccia Pipe Deposit Cohio
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Ø Golden Zone Corridor (> 12 km mineralized trend)
m @ 1.46 g/t Au in a conglomeratic unit and open at depth
southwest of Breccia Pipe Deposit. JJ Zone can be traced over a width of 150 m by 450 to 500 m strike length and vertical expression of approx. 300 m, assays up to +6 g/t Au with further assays pending
Ø Long Creek Corridor (> 3 km mineralized trend)
Cu
km area
larger proximal mineralized intrusive
7 Surface Gold Samples G
d e n Z
e C
r i d
Long Creek Corridor
Silver Dikes Corridor
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0.5 g/t Au Cut-off (as of Nov 2016)
Category Deposit Type Tonnes Au Ag
Grade (g/t) Ozs Grade (g/t) Ozs
Indicated
Porphyry 1,811,000 0.89 52,200 3.2 186,300 Silica Breccia 369,000 0.93 11,100 8.64 102,500 Sulphide 2,007,000 3.17 204,300 17.19 1,109,000 TOTAL 4,187,000 1.99 267,400 10.38 1,397,800
Inferred
Porphyry 142,000 0.75 3,400 1.84 8,400 Shear Zone 1,216,000 0.83 32,600 2.65 103,400 TOTAL 1,353,000 0.83 35,900 2.56 111,400
§ Amenable to open–pit mining (3.6 strip ratio) and conventional milling and processing. Majority of the Au mineralization appears free milling. Note: Base metals not analyzed. § Assay capping values are used for gold values: Porphyry- 20 g/t Au, Silica Breccia- 25 g/t Au, Sulphide Breccia- 35 g/t Au, Shear Zone- uncapped; & for silver values: Porphyry- 60 g/t Ag, Silica Breccia- 130 g/t Ag, Sulphide Breccia- 200 g/t Ag, Shear Zone- 40 g/t Ag. § Blocks informed by 3 or more drill holes and within 30 m of the nearest sample are assigned the Indicated category. All remaining blocks within a Whittle shell generated using a $1,350/oz gold price are classified as Inferred. Blocks outside of the floating cone are not classified.
Author: L.McGarry Date: 05/08/16 UTM NAD 27 Zone 6N 100m 50 Legend Trench Traces Drill Hole Traces Track Gold Grades -g/t Au < 0.5 0.5 to 1.0 1.0 to 2.0 2.0 to 3.0 3.0 to 5.0 5.0 to 10.0 >= 10.0
Notes: August 2016 porphyry and breccia domain resource model blocks greater than 1 g/t Au, with gold grade charts and resource constraining Whittle shell at $1,500 per Oz Au and a 45 degreeOrthogonal View Looking NW
Author: L.McGarry Date: 05/08/16 UTM NAD 27 Zone 6N 100m 50 Legend Trench Traces Drill Hole Traces Track Porphyry Sulphide Breccia Silic Breccia Shear ZoneTSX-V: AVG
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Conceptual Pit Outline
High Grade Feeder Not Fully Tested
GZ18-4
452 m
Proposed
Assays pending for 2018 GZ18-4
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Ø Mayflower Trend >300 m and open internally and to the northeast § Follow up to GZ17-10 (21.6 m @1.46 g/t Au) § GZ18-02 - 17.7 @ 2.12 g/t Au (partial hole assay) § GZ18-01 to GZ18-03 (further assays pending) Ø GZ18-04 – testing down plunge extension of Breccia Pipe & adjacent porphyry intrusive § Assays pending Ø New breccia discovery (West Breccia Pipe) 400 m west of Breccia Pipe Deposit § yet to be drill tested
Note: Holes GZ17-04 & 08 not shown for clarity purposes only – No Significant Results
West Breccia Area 14.64 g/t Au, 355 g/t Ag Mayflower Trend
BLT Shear Open > 1 km to GAS Prospect 21.6 m @ 1.46 g/t Au 2.1 m @ 2.4 g/t Au 10.5 m @ 1.54 g/t Au 6.1 m @ 8.31 g/t Au (Trench)
GZ18-4 GZ18-2 & 3 GZ18-1 Breccia Pipe Deposit
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Copper King to S Long Creek Trend Breccia Pipe Deposit Cohio
Ø New Discovery within the Golden Zone Corridor Ø 5 km southwest of the Breccia Pipe Deposit Ø 6 km northeast of the Cohio prospect reported to have gold showings highlights of 111.0, 15.0 & 9.7 g/t Au
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Ø Multiple sulphide-bearing gossan zones, vertical dipping ranging from 0.5 m to +3.0 m Ø Sulphides include disseminated to semi-disseminated pyrite, chalcopyrite and arsenopyrite within siltstones/sandstones, intruded by porphyritic dikes Ø Preliminary Dimensions: 300 m vertical exposure by 150 m width and 450 m – 500 m strike length Ø Early highlight assay results (grabs) include: 6.14 g/t, 5.41 g/t, 3.83 g/t, 2.08 g/t Au : further assays pending 150 m 300 m vertical exposure from top of mountain peak (not seen here) to valley floor
Looking down into the valley floor
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> 3 km long system with significant Au, Ag & base metal mineralization in skarns, hornfels and related intrusive stockwork mineralization
Copper King Long Creek S Long Creek Looking Southeast
Mineral occurrences appear to be part of a large system, spatially related to magnetic lows
TMI Aeromagnetic Map
Long Creek Copper King S Long Creek
> 3 km
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Ø 46.5 ln km of CSAMT surveying with several target areas identified Ø 2018 CSAMT targets coincident with airborne magnetic lows – indicative of destruction of magnetic minerals by intrusive event Ø CSAMT targets also coincident with 1996 airborne low resistivity Ø Targeting confirmed by new trenching with has revealed sulphide mineralization in mudstones/siltstones Ø Drilling is the ultimate test – in progress
Copper King Long Creek S Long Creek
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Ø Disseminated molybdenite found in the quartz eye granite with chalcopyrite stringers – possibly related to a near surface Cu-Au- Ag-Mo porphyry (intrusive) system Ø Associated with an IP chargeability high, CSAMT high resistivity & adjacent to a magnetic low feature (interpreted to be intrusive body) Ø CK94-2 returned 7.6 m @ 4.9 g/t Au + 77 g/t Ag + 3.5% Cu from surface and bottomed in 6m @ 1.1 g/t Au + 9.2 g/t Ag + 0.4% Cu in sediments/porphyry: mineralization is open at depth Ø Adjacent stockwork in porphyry: 4.8 g/t Au + 106 g/t Ag + 1.4% Cu – possibly indicative of a larger mineralized intrusive center
Semi-massive sulphides Stockwork in porphyry 7.62 m @ 4.94 g/t Au, 76.7 g/t Ag, 3.52% Cu Adjacent mineralization of 4.8 g/t Au, 106 g/t Ag, 1.4% Cu
CK18-1 CK18-2 Assays pending for 2018 CK holes, CK18-3 yet to be drilled CK18-3
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Ø Several CSAMT targets defined
Ø Profiles interpreted as intrusive events Ø Hole LC18-1 encountered cpy, po, py mineralization virtually throughout the entire hole dominantly in sediments and intrusive fingers. Ø Higher percentages of sulphides, cpy, py, po (approx. 5%) start from 108 m to essentially the EOH at 354 m (assays pending) Ø Sulphide (cpy, py) mineralization also found above LC18-1 in a trench
Copper King
S Long Creek
3 5 4 m
354 m
LC18-2 in progress LC18-2 in progress LC18-1 LC18-3 To be drilled
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Copper King
S Long Creek
LC18-1 (at 248 m): Cpy, po, py in an Intrusive LC18-1 (at 278 m): Cpy in a Conglomerate
LC18-1
354 m
LC18-2 in progress
Assays pending for 2018 LC holes
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Proximity to Fort Knox Mine
Tonsina Trend
Ø Excellent access and infrastructure - approximately 15 km northeast of Fairbanks city limits Ø Adjacent and contiguous with Fort Knox that produces approx. 380,000 oz/yr at an avg. grade of approximately 0.45 g/t Au & running out of ore by 2020 Ø Intrusion Related Gold System, structurally controlled, sheared sheeted vein/stock work mineralization similar to Fort Knox Ø Proterozoic schists and amphibolite intruded by Cretaceous age granitoid Ø The main mineralized zone (Tonsina Trend) is approximately 5.6 km southwest of Fort Knox in the same NE trending corridor
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Selected Drill Holes and Grab Samples
10.57 m @ 1.08 g/t Au 1.52 m @ 1.13 g/t Au 3.05 m @ 0.48 g/t Au 1.52 m @ 2.23 g/t Au 3.05 m @ 14.04 g/t Au 13.72 m @ 3.02 g/t Au 6.10 m @ 1.0 g/t Au 3.05 m @ 1.39 g/t Au 4.57 m @ 2.3 g/t Au 3.05 m @ 0.96 g/t Au
Drill Hole Collar Gold Soil Anomaly Area (40 to >500 ppb) 26.4 g/t Au 64.4 g/t Au 40.6 g/t Au 103 g/t Au
Gold (g/t)
! <0.25
0.25-1.0
! 1.0-5.0
5.0-20.0
!
#>20.0
!
Ø Very limited and unevenly distributed drilling within the 1.6 km long Tonsina Trend Ø 30 of 39 holes intersected >1.0 g/t Au over 1.5 m: 6 holes with VG Ø Drill tested to less than 150 m depth, all oxide mineralization
Ø Several other untested targets on the property discovered from prospecting (in blue)
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Reno Las Vegas
Walker Lane Trend Battle Mt - Eureka Trend Carlin Trend Getchill Trend H u m b
d t T r e n d
Elko
Independence Trend
Past & Present Au Producers ! Carlin Trend: +100 Moz ! Battle Mt/Eureka Trend: +50 Moz ! Walker Lane Trend: 50 Moz
100 km
Jungo Dome Hill
Project Jungo Dome Hill Ownership 100% 100% Claims / Size 235 claims (1,960 ha) 78 claims (600 ha) Target 5 km long gold-copper system with mineralization in a magmatic-hydrothermal environment between the Hycroft (25 Moz Au) and Sleeper (7 Moz Au) deposits Island arc, intrusion-related system with structurally controlled Au-Cu mineralization along NNE trending structures +6 km of known high sulphidation vein systems, all open and untested Numerous high-grade grab samples: 45.7 g/t Au, 31.8 g/t Au, 27.5 g/t Au Previous Drilling 4.3 m @ 1.7 g/t Au, 57.7 g/t Ag and 2.7% Cu 1.5 m @ 2.5 g/t Au, 71.6 g/t Ag and 0.7% Cu 12.2 m @ 1.3 g/t Au, 28.6 g/t Ag and 0.7% Cu 4.6 m @ 4.7 g/t Au 1.5 m @ 9.7 g/t Au
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Management Experience Achievements
Nick Tintor, B.Sc President & CEO, Director +35 years in mining company executive management, project acquisition, mineral exploration and finance Founded and led resource junior companies including Anaconda Gold., which is currently operating the Pine Cove gold mine in Newfoundland. Listed Moto Goldmines in Canada and was instrumental in $63 million in TSX financings in 2005-2006.
PhD, P.Geo VP Exploration +35 years International exploration experience and is considered an expert in IOCG, epithermal Au and VMS deposit types. Integral to the acquisition of the Golden Hills gold-rich VMS deposit, Mongolia, that is presently being developed. Co-founder and principal with GeoVector Management Inc and has acted as VP Exploration for public and private companies.
Leading Technical Advisors Experience Achievements
Douglas J. Kirwin, B.Sc., M.Sc., FSEG. +45 years International exploration experience. Held senior positions with Anglo American, Amax, Indochina Goldfields and Ivanhoe Mines Limited. Member of the joint discovery team for the Hugo Dummett deposit at Oyu Tolgoi in Mongolia, Other mineral discoveries made by his exploration team include the Jelai-Mewet and Seryung epithermal deposits in northeast Kalimantan, the Eunsan-Moisan gold mines in South Korea, the Moditaung gold deposits in Myanmar and the Merlin Re-Mo deposit in Australia. Co-recipient of the PDAC inaugural Thayer Lindsley medal awarded for the most significant international mineral discovery in 2004. Alexander Davidson, M.Sc + 35 years Experience in designing, implementing and managing gold and base metal exploration and acquisition programs throughout the world. Was Barrick Gold Corporation’s Executive Vice President, Exploration and Corporate Development with responsibility for international exploration programs and corporate development activities. In April 2005, presented the A.O. Dufresne Award by the Canadian Institute of Mining, Metallurgy and Petroleum to recognize exceptional achievement and distinguished contributions to mining exploration in Canada. In 2003, was named the Prospector of the Year by the Prospectors and Developers Association of Canada in recognition for his team's discovery of the Lagunas Norte Project in the Alto Chicama District, Peru.
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Experience Achievements
David Anderson B.Sc. P.Geo, Chairman +35 years Geophysicist with international experience in mining sector as both a consultant and in corporate roles Founding shareholder in Quantec Geoscienes Ltd, QGX Ltd., and Antares Minerals Inc. QGX and Antares were public companies subsequently sold to major mining companies after successfully discovering economic mineral deposits. Founded the David C Anderson Charitable Foundation in 2010 whose primary objective is to provide assistance for women and children in underprivileged situations. Former executive positions and currently an entrepreneur who continues to identify and invest in junior mining exploration companies that are focused on gold and copper opportunities. James Polson MBA Director +20 years Mining service industry and studied Mechanical and Mechatronic Engineering CEO of a Hong Kong based Construction and Mining Services company and board member of the Hong Kong Construction Industry Council Training Association Civil Engineering Sub-Committee. Was a co- founder of AIDD Group which went on to become leading international mining service group in the North East and Central Asian region. Founding member of MISA (Mineral Industry Safety Association) in Mongolia. Awarded the Emerging Leaders award for Entrepreneurship from the IVEY School of Business in 2011. Dino Titaro, M.Sc., P.Geo Director + 35 years International experience in mineral exploration, mining
Co-discoverer of 2 major deposits, a gold-copper and gold-sliver deposit (currently in production) totalling 8.4 million oz of Au and 1.4 billion pounds of Cu. Former executive positions and current board of director of private junior companies and senior mining public company. Nick Tintor B.Sc, President & CEO, Director See Management
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Ø Significant news flow from drilling/exploration results
Ø Follow up of JJ New Discovery area Ø Further prospecting on the District scale 105.5 km2 Zone property Ø Maximizing Advancement of Other Assets
provide high-grade feed to the Fort Knox mill
fairly value Jungo and provide path for value creation to our investors)
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All properties located within top tier, mine friendly, politically stable jurisdictions
All properties hosted within well known, well endowed mineral terranes
Multi-million ounce gold potential at each property, with possible nearer term production within the district scale land package of the Golden Zone Property, Alaska
Backed by Industry Experienced Leaders with a track record of success and multi-faceted technical & business expertise
Management & Directors vested with approx. 20% of the outstanding shares
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Nick Tintor, CEO & Director 416 987 0855 Email: ntintor@avidiangold.com Or Dino Titaro, Director +1 647 283 7600 e-mail: dtitaro@avidiangold.com Avidian Gold Corp. 120 Adelaide Street West, Suite 2400 Toronto, Ontario Canada M5H 1T1 Tel: +1 416 987 0855 Fax: +1 647 259 1785 e-mail: info@avidiangold.com
Ø Golden Zone (100%) § 105.5 sq km § Avidian owns 29.4%
balance of 70.6% for US $875,000 in cash ($225K paid to date) & US $1,125,000 of stock ($325K paid to date) over a 7 year period (to 2023), plus a work commitment
commitment already completed) § 3 % NSR of which 1.4% can be bought out for US $1,400,000 at Avidian’s option and an additional 1.6% for US $1,600,000 at vendors option on 59.9 sq km and 1% NSR on 12 sq km. § Holding Cost of approx. US$ 35,000 per year (lease and claims rentals costs & general overhead costs) Ø Amanita (100%) § 88 Claims (14.6 sq km) § 3% NSR that can be bought for US $1 million per % point § Lease payments totaling US $1,235,000 spread out over 15 years (starts at $15,000 in 2016, $25,000 in 2017, $30,000 in 2018 and escalates $10,000 per year to the 15th year) with a US $3 million buyout. § Holding Cost/land fees of approx. US $25,000 per year
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Ø Jungo (100%) § 235 Claims (19.6 sq km): NSR:2% NSR on 35 Claims § Holding Cost/land fees of approx. US $40,000 per year Ø Dome Hill (100%) § 78 Claims (6 sq km): 2% NSR on 20 acres, buyout of 1% for US $250,000; § Holding Cost of approx. US$17,000 per year (includes annual lease payments on 40 acres of US $2,000 per year) TSX-V: AVG
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Shallow level systems
sills, and dikes Peripheral
Intrusion-hosted
Skarn - Replacement Distal Veins Au – Ag – Cu – Bi ± Pb - Zn Sheeted/Stockwork Veins Breccia - Sheeted Veins ~1 km Distal Veins Au – Ag - As – Bi ± Zn, Cu, Pb Sheer Zone Veins
Greisen - Disseminated Possible Mineralized Intrusives
“All 3 mineralization types found on the property, potential for large multi-million Au deposit(s)”
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Operation Fort Knox (Kinross) Amanita Contained Gold +8 Moz Gold Undetermined Geology Gold in Cretaceous Granite Gold adjacent to or on top of interpreted buried granite at Tonsina Trend Corridor Within Corridor of Two NE Structures Along Strike in Same Corridor Mine Type Open pit mine Known gold mineralization all in open pit-able setting Host Rock Extensive Biotite Hornfels Aureole Extensive Biotite Hornfels Aureole Indicator Gold occurs with Bismuthinite, Scheelite, Arsenopyrite and Quartz-feldspar Veins Gold occurs with Bismuthinite, Scheelite, Arsenopyrite and Quartz-Feldspar Veins Metallurgy Model shows inner Au-Bi, halo of Sb-As Soils show inner Au-Bi, halo of Sb-As Stage Present grade of approx. 0.5 g/t Au; Cut-off Grade 0.16 g/t Au 30 of 39 drill holes intersected >1.0 g/t Au over 1.5 m: VG reported in several holes and seen in local float
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