LEADING EXPLORATION IN JAMES BAY EASTMAIN RESOURCES INC. ER:TSX CORPORATE PRESENTATION FOR AGM – APRIL 2017
FORWARD LOOKING STATEMENTS Certain information set forth in this presentation may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to any potential director nominations, actions taken in respect of director nominations received by Eastmain, actual results of current and future exploration activities at the Company's properties, and the potential success of the Company’s future exploration and development strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to he results of matters to be considered at the upcoming annual and special meeting of shareholders of Eastmain, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law. 2 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
EASTMAIN RESOURCES AGGRESSIVELY ADVANCING ASSETS IN JAMES BAY, QUEBEC MOST ACTIVE Ø Recognized board MANAGEMENT JUNIOR IN Ø 1,320 sq km of JAMES BAY and management STRENGTH properties team Ø Archean greenstone Ø Track record of belt exploration, Ø Significant infrastructure development and in an emerging gold production success camp TOP LAND POSITION; 3 KEY ASSETS DISTRICT POTENTIAL Ø 2-7 active drill rigs Ø Completing the Clearwater : Advancing Towards Development; 1 2H2016 – 1H2017 Resource Update 3Q 2017, PEA 1Q 2018 drilling program Eastmain Mine: Historic resources 255,000 oz @ 10 g/t Au; 2 New Julien Discovery Eleonore South JV : Targeted gold-system drilling; 3 JV partners Goldcorp and Azimut 3 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
MAJOR CORPORATE ACCOMPLISHMENTS MAY 2016 - APR 2017: TRANSITION COMPLETE, GROWTH FOCUS GOING FORWARD New management team and board of directors appointed Ø Established permanent corporate presence via Toronto head office Ø New vision and strategy outlined Ø Completed knowledge and asset transfer from previous management team Ø Established and improved corporate governance and affairs Ø Implemented streamlined cost structure Ø Raised $21.8 million through four private placements Ø Improved capital markets presence with research coverage from 8 brokers Ø (previously 1 broker) Significantly expanded institutional shareholder support Ø 4 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
MAJOR QUEBEC-FOCUSED ACCOMPLISHMENTS MAY 2016 - APR 2017: TRANSITION COMPLETE – GROWTH FOCUS GOING FORWARD Re-established relationships with Aboriginal community in James Bay Ø Re-established relationships with the Quebec Government’s departments, including Ø Plan Nord Initiated intensive exploration programs on 3 projects Ø Completed aggressive 75,000 m company-wide drilling program Ø 63,000 m at Clearwater (resource definition and exploration drilling) Ø 7,500 m at Eastmain Mine Project (discovery made) Ø 5,000 m at Eléonore South JV (revitalized joint venture exploring large mineralized Ø corridor) Upgraded main Clearwater camp to support increasing exploration programs and a Ø future development scenario 5 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
EASTMAIN CAPITAL STRUCTURE TSX:ER, as at April 27 ANALYST SUPPORT CAPITAL STRUCTURE Shares outstanding 175,429,814 Options (W Avg Life – 5.4 yrs, $0.69) 9,188,605 Warrants (expiry 11/10/18 , $0.50) 6,899,999 Fully-Diluted 193,133,417 Market Capitalization (20-day VWAP) $83 million Share Price (20-day VWAP) $0.47 Pending new analyst 52 Week High/Low $0.97 - $0.38 Daily Avg Vol (20-day avg) 569,670 BUDGET TO MID-2017 (INCL. G&A) ANALYST PT (CONS) : $1.04 C $2.4 M CASH & MARKETABLE SECURITIES (April 27, 2017) C $7.2 M 6 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
BOARD AND MANAGEMENT STRENGTH IN ENGINEERING, GEOLOGY & CAPITAL MARKETS WELL-ESTABLISHED Laurence (Laurie) Curtis Blair Schultz BOARD OF DIRECTORS Chairman Capital markets experience Michael Hoffman Hervé Thiboutot, Geological Engineer Mine Engineer & Executive Integra Senior VP (Quebec) Claude Lemasson President & CEO and Director Claude Lemasson, P.Eng, MBA MANAGEMENT TEAM Bill McGuinty, P.Geo President & CEO VP Exploration • Highly-skilled mining professional • 30 yrs experience in Canada and Latin • 30 yrs of mine dev’t & operational experience America, from exploration to environmental and feasibility studies • Direct experience with Goldcorp’s Éléonore project in northern Québec Manuel Ng-Lai, P.Eng Project Engineer Joe Fazzini, CPA, CFA, CA • 10+ yrs in the technical services sector CFO & VP Corporate Development • 10+ yrs advising and auditing global gold and Carl Corriveau, P.Geo, SEG base metal producers through PwC & Dundee Exploration Manager Capital Markets. • 15+ yrs industry experience, including project management and evaluation, Alison Dwoskin, CPIR advancing projects from exploration Manager, Investor Relations through economic studies • 10+ yrs in mining Investor Relations 7 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
VALUE OPPORTUNITY VS PEERS – EV/OZ 44% GROWTH TO MATCH PEER AVERAGE $152 160 140 EV PER OUNCE (C$/OZ) 120 $107 100 $88 $82 $80 $72 AVERAGE $73 PER EV/OZ 80 $66 $60 $50 60 $40 $39 $37 40 20 0 Data compiled by Laurentian Securities based on most recent company financial reports, April 4, 2017. *Eastmain data Includes Clearwater MI&I mineral resources (June 2015) and Eastmain Mine historic resources (255,000 oz @ 10 g/t Au). 8 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
CENTRAL JAMES BAY GOLD CAMP CANADA’S EMERGING GOLD DISTRICT Production Exploration Life Cycle Development The Canadian Shield has Potential for many more James Bay is one of the Improved infrastructure produced over 200 million discoveries as exploration youngest camps in the to speed up pace of ounces of gold advances exploration Canadian shield District First Gold Production & Reserves (Millions of Ounces ) Pour (Year) Central James Bay 2014 7 Rice Lake 2005 2 Casa Berardi 1988 3 Detour 1983 23 Hemlo 1981 21 Chibougamau 1952 7 Red Lake 1930 28 Rouyn-Noranda 1927 20 Val D’or 1923 30 Kirkland Lake 1915 45 Timmins 1909 74 1. The production and reserve figure for James Bay Central Camp includes Eastmain’s resources as there are currently no reserves. 2. The Eastmain mine extracted 40,000 ounces in 1995. 3. Casa Berardi and Chibougamau are located in Southern James Bay Source: Company reports, government studies, and academic journals. Compiled in 2016. 9 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
HIGH QUALITY ASSETS - AN EMERGING GOLD CAMP SUPERIOR INFRASTRUCTURE Total property portfolio - 132,088 hectares Chisasibi Radisson Radisson Éléonore Mine Renard Mine Wemindji Goldcorp Stornoway Eléonore South JV Eastmain Mine Clearwater Lac Elmer Lac Lessard Eastmain James Ruby Hill Bay Lidge Nemaska Waskaganish Reservoir Troilus Mine Copper One Lac Hudson Temiscamie Lac Clarkie Route 167 Nord All-season road Mistissini 50KM JAMES BAY, QUEBEC Note: Clearwater is accessible via a commercial airport at Nemaska, located 80 kms south of the project. Route 167 Nord has been constructed from Temiscamie north to the Renard Project, providing permanent road access to the Eastmain Mine project. 10 EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com
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