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Fiore Gold Ltd. TSX-V: F OTCQB: FIOGF P O I S E D F O R G R O W T H I N T H E A M E R I C A S J u l y 2 0 1 8 TSX-V: F 1 DISCLAIMER CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains forward -


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1 TSX-V: F

P O I S E D F O R G R O W T H I N T H E A M E R I C A S J u l y 2 0 1 8

Fiore Gold Ltd. TSX-V: F OTCQB: FIOGF

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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This presentation contains “forward-looking statements” and “forward looking information” (as defined under applicable securities laws), based on management’s best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to the plans for future exploration, development and expansion of mineral properties, goal to become a 150,000 ounce/year gold producer, potential to expand Pan Mine gold production, Pan Mine cash flow expectations and costs, future operations of the Pan Mine, expected progress and results from Pan exploration drilling program, goal to acquire and consolidate near production mineral properties and expected benefits of such strategy, expectations for obtaining permits for Gold Rock, future exploration drilling and potential for Gold Rock, strategic opportunities for our Chilean properties, financial position and prospects for the Company and other statements, estimates or expectations. Often, but not always, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “targets”, “forecasts”, “intends”, “anticipates”, “scheduled”, “estimates”, “aims”, “will”, “believes”, “projects” and similar expressions (including negative variations) which by their nature refer to future events. By their very nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Fiore Gold’s control. These statements should not be read as guarantees of future performance or results. Forward looking statements are based on the opinions and estimates of management at the date the statements are made, as well as a number of assumptions made by, and information currently available to, the Company concerning, among other things, anticipated geological formations, potential mineralization, future plans for exploration and/or development, potential future production, ability to obtain permits for future operations, drilling exposure, and exploration budgets and timing of expenditures, all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Fiore Gold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to vary materially from results anticipated by such forward looking statements include, but not limited to, risks related to the Pan Mine performance, risks related to the company’s limited operating history; risks related to international operations; risks related to general economic conditions, actual results of current or future exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; uncertainties involved in the interpretation of drilling results, test results and the estimation of gold resources and reserves; failure of plant, equipment or processes to operate as anticipated; the possibility that capital and

  • perating costs may be higher than currently estimated; the possibility of cost overruns or unanticipated expenses in the work programs; availability of financing; accidents, labour disputes, title

disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities; the possibility that required permits may not be obtained on a timely manner or at all; changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Fiore Gold operates, and other factors identified in Fiore Gold’s filing with Canadian securities authorities under its profile at www.sedar.com respecting the risks affecting Fiore Gold and its business. Although Fiore Gold 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. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. Fiore disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information.

QUALIFIED PERSON

The scientific and technical information relating to Fiore Gold’s properties contained in this presentation was reviewed by Ross MacLean (MMSA) Fiore Gold’s Chief Operating Officer and a “Qualified Person” under National Instrument 43-101. Scientific and technical information referred herein has been extracted from and is hereby qualified by reference to the technical reports for our

  • projects. The technical reports referenced herein are as follows: (1) the report titled “ NI 43-101 Updated Technical Report, Pan Gold Project, White Pine County, Nevada”, with an effective date of

June 30, 2017, which was prepared by J. B. Pennington, M.Sc., C.P.G., Kent Hartley, P.E., Justin Smith, P.E., RM-SME., Deepak Malhotra, RM-SME, Valerie Sawyer, RM-SME, and Brooke J. Miller, M.Sc., C.P.G.; (2) the report titled “NI 43-101 Technical Report on Resources, Gold Rock Project, White Pine County, Nevada” with an effective date of February 29, 2012, which was prepared by William J. Crowl, R.G., QP Member MMSA, Vice President, Mining Sector, Gustavson Associates, Donald E. Hulse, PE, SME-RM, Principal Mining Engineer, Gustavson Associates and Donald J. Baker, PhD, QP Member MMSA, Associate Principal Geologist, Gustavson Associates, and (3) the report titled “Midway Gold Corp.: Golden Eagle Project, Washington State, USA, Technical Report” with an effective date of August 4, 2009, which was prepared by Eric Chapman, B.Sc. (Geology), M.Sc. (Mining Geology), C.Geol.,Consultant, Snowden Mining Industry Consultants and Dr. Thom Seal, Ph.D., P.E., Principal and Chief Metallurgist, Differential Engineering Inc. Each of the persons named as having prepared the technical reports listed above is a “Qualified Person” under National Instrument 43-101 (“NI 43-101”). This presentation does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No securities offered by the Fiore Gold have been or will be registered under the United States Securities Act of 1933 (“U.S. Securities Act”), as amended, or under state securities laws in the United States and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

DISCLAIMER

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3 TSX-V: F

FIORE GOLD

A BALANCED GROWTH STORY

STRONG NEVADA PRODUCTION AND CASH FLOW BASE BALANCED EXPLORATION AND DEVELOPMENT PORTFOLIO REGIONAL CONSOLIDATION STRATEGY

EXPERIENCED TEAM DEBT FREE

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OUR TEAM

ACCOMPLISHED MINING TEAM TO EXECUTE BROAD PIPELINE

EXPLORA TION Tim Warman

CEO

MINING Ross MacLean

COO

FINANCE Barry O’Shea

CFO

CAPITAL MARKETS Frank Guistra

Fiore Management & Advisory

LEGAL James C. Wilbourn

VP, General Counsel

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Gold Rock Pan Mine

OUR ASSETS

AMERICAS FOCUSED WITH SIGNIFICANT OPTIONALITY

Golden Eagle Rio Loa Cerro Tostado

Production Development Exploration

~35,000 ounce Nevada Gold Production 1.7 million ounce historical resource Near-permitted Nevada Project Strategic Chilean Land Positions Acquisition targets at or near production

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OUR PLAN

FOCUSED AND ACHEIVABLE PLAN FOR GROWTH

Pan Mine Gold Rock M&A Golden Eagle Chilean Assets

▪ Potentially increase production through evaluation/addition of crusher ▪ Extend mine life with current drilling program ▪ Attain federal permit and bring resource up to date by Q3 2018 ▪ Identify district targets through 2018 drilling program ▪ Prepare for feasibility and development ▪ Target near-production deposits in the 500 koz – 1 Moz range ▪ Execute regional US consolidation strategy leveraging operating and permitting expertise ▪ Establish current resource with updated study ▪ Consider partnership to advance asset ▪ Prioritization and targeted exploration of strategic assets ▪ Consider corporate development options to advance or surface value from assets

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REGIONAL CONSOLIDATION STRATEGY

NATURAL CONSOLIDATORS IN REGION

BENEFITS OF CONSOLIDATION FIORE AS NATURAL CONSOLIDATORS

▪ Proven team in mine turnarounds ▪ Expertise in federal and local permitting ▪ Strategic land position in region ▪ Demonstrated ability to transact quickly ▪ Pan Mine cash flowing asset distinguishes Fiore from other potential consolidators ▪ Portfolio effect of multiple assets ▪ Corporate cost synergies ▪ Shared site technical services ▪ Use operating cash flow to unlock Gold Rock and other opportunities

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OUR GOAL

ESTABLISHED INTERMEDIATE PRODUCER

*Production figures from respective company production guidance news releases. Market capitalization in CAS$ as of June 22, 2018. Bubble sizes represent relative all-in sustaining costs.

Expand Pan Mine Regional Consolidation Develop Gold Rock

150,000

GOLD PRODUCTION TARGET

2018 Guidance Production Market Capitalization (CAD 000s)

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SLIDE 9

ASSET OVERVIEW

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✓ Grade delivered to pad meeting mine plan modeled grade ✓ Phase I and II leach pads

  • perating as

designed ✓ No issues with leach pad stability

IMPACT

PAN MINE

SUBSTANTIALLY DERISKED AND OPERATING SMOOTHLY

▪ Updated resource model ▪ On-site assay lab commissioned ▪ Geologist assigned to pit ▪ Rehabilitated Phase I pad ▪ Ore blending strategy ▪ Cell by cell flow control ▪ Revised ore stacking procedures ▪ On-going 3rd party stability testing

ACTION

Grade Reconciliation Heap Leach Permeability Heap Leach Stability

RISK

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Gold Ounces Produced

PAN MINE

DELIVERING INCREASING PRODUCTION AND CASH FLOW

✓ Gold production steadily increasing, particularly since transition to Phase II leach pad ✓ All-in sustaining cost steadily decreasing as production increases and leach pad expenditure complete ✓ Mine producing operating cash flow in Q2 2018 as production continues to grow and margins expand

  • 2,500

5,000 7,500 10,000 12,500

Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018

All-in Sustaining Costs per Ounce1

$0 $500 $1,000 $1,500 $2,000

Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018

2

Operating Cash Flow ($ 000s)

  • $2,800
  • $2,100
  • $1,400
  • $700

$0 $700 $1,400 $2,100

Q3 2017 Q4 2017 Q1 2018 Q2 2018

1. All-in Sustaining Cost is a non-IFRS performance measure and is presented as defined by the World Gold Council (“WGC”) less corporate general and administrative expenses. Please refer to Non-IFRS Performance measures in the company’s Management’s Discussion and Analysis for the periods ended June 30, 2017 and March 31, 2018. 2. Q3 2018 production reported on July 17, 2018. All-in sustaining cost and operating cash flow will be reported with quarterly financials and MD&A in August 2018.

Q3 2018

2 2

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PAN MINE

EXPLORATION UPSIDE

▪ Infill and extension drilling underway near North and Central pits to grow reserves and extend mine life ▪ Early results show long intercepts outside current pit shell, with higher grade intercepts at Red Hill and West Contact ▪ More than ten drill-ready exploration targets on the Pan property, defined by lithology, alteration, & structure as well as gold and trace element geochemistry

Section 2791 (Facing North)

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PAN RESOURCES AND RESERVES

NI 43-101 Technical Report for the Pan Mine, White Pine County, Nevada, June, 2017. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that any part of the Mineral Resource will be converted into a Mineral Reserve. Pit- constrained resource based on US$1350/oz gold, cutoff grade of 0.17g/t gold for North & Central zones, 0.14 g/t gold for South zone, North and Central area recoveries of 62% for Au and a Southern area recovery of 85% for Au, a mining cost of US$2.00/t, an ore processing and G&A cost

  • f US$3.55/t, and a pit slope of 50 degrees in the North and 45 degrees in the South and Central Areas;. Numbers in the table have been

converted to metric units and may not sum due to rounding. Source: SRK, 2017, NI 43-101 Technical Report for the Pan Mine, White Pine County, Nevada, June, 2017 Reserves stated in the table above are contained within an engineered pit design following the US$1,200/oz Au sales price Lerchs-Grossman pit Reserves for South Pan and South Satellite Pits are based upon a minimum 0.14 g/t Au Internal CoG, using a US$1,200/oz-Au sales price and a Au Recovery of 85%, an Au Sales cost of US$3.48/oz, Ore and Waste Mining Cost = US$2.12/t, Processing and G&A Cost = US$3.80/t and a 4% Net Smelter Royalty (NSR) Reserves for North Pan, Red Hill and Central Pan are based upon a minimum 0.21 g/t Au Internal CoG, using a US$1,200/oz-Au sales price and a Au Recovery of 62%, an Au Sales cost of US$3.48/oz, Ore and Waste Mining Cost = US$2.12/t, Processing and G&A Cost = US$3.80/t and a 4% NSR Mineral Reserves stated above are contained within and are not additional to the Mineral Resource. Numbers in the table have been converted to metric units and may not sum due to rounding

Resource (incl. reserve) Tonnes (000s) Grade (g/t) Contained Metal (Au oz) Measured 8,184 0.62 159,000 Indicated 19,091 0.45 275,000 Measured + Indicated 27,275 0.48 434,000 Inferred 5,144 0.45 72,000

▪ Acquired 2016 for US $5 million ▪ Mine is fully permitted and operating ▪ 2015 & 2016 Nevada Safe Mine Operating winner, reflecting the new

  • perating team’s attention to detail

Reserve Tonnes (000s) Grade (g/t) Contained Metal (Au oz) Waste (kt) Strip Ratio (waste/ore) Proven 6,740 0.62 137,000 Probable 12,264 0.45 182,000 Proven + Probable 19,004 0.51 318,000 25,484 1.34

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GOLD ROCK

DISTRICT SCALE EXPLORATION ▪ Federal permit for full mine build expected Q3 2018, puts Gold Rock three to five years ahead of similar projects ▪ Exploration project centered on the Gold Rock historical resource estimate*: ▪ >200 km2 contiguous land package

  • n the Battle Mountain-Eureka Trend

▪ Exploration ground comparable in total area to Gold Standard Ventures (GSV.T)

*Historical resource as described in report entitled “NI 43-101 Technical Report on Resources, Gold Rock Project, White Pine County, Nevada” by Gustavson Associates for Midway Gold Corp., dated April 12, 2012. The resource estimate assumed a cut-off grade of 0.27 g/t gold, a 65 percent recovery, a mining cost of $6.50/t and a gold price of $1,255 per ounce. Fiore reports these historic resources for illustrative purposes only. Although the estimates are believed to be reliable and relevant, a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and the Company is not treating the historical estimates as current mineral resources or mineral

  • reserves. The Company believes that some additional drilling is required to upgrade the historical estimate to a current mineral resource estimate. A larger historical resource estimate

was described in a report entitled “Amended NI 43-101 Technical Report, Updated Mineral Resource Estimate for the Gold Rock Project, White Pine County, Nevada” and dated January 8, 2015, however the Company believes the 2012 mineral resource estimate outlined here is currently the most valid.

Category Tonnes (000s) Grade (g/t) Contained Metal (Au 0z) Indicated 12,967 0.75 310,000 Inferred 17,893 0.58 331,000

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GOLD ROCK

DISTRICT SCALE EXPLORATION ▪ Mineralized EZ Fault/Fold system extends for 13+ km, defined by structure, alteration, gold and pathfinder elements in soil and rock ▪ Historical resource centered on former Easy Junior pit ▪ Updated resource ahead of drilling in Q4 2018 ▪ Drill program scheduled to begin July 2018

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GOLDEN EAGLE PROJECT

WASHINGTON STATE ▪ Golden Eagle hosts an historical, non-43-101 resource estimate*: ▪ Overlooked asset with significant exploration upside and optionality ▪ Historically mining-friendly district with over 4 Moz of historical production, including Kinross’ Buckhorn and Kettle River Mines ▪ Minimal holding costs

*Historical resource estimate as described in report entitled ‘Golden Eagle Project, Washington State, USA, Technical Report’, July 2009 by Snowden Mining Industry Consultants Inc. for Midway Gold

  • Corp. Historical underground workings have been depleted from the mineral resource. Resources were reported within an ultimate pit shell generated with a $750 gold price and 85% gold recovery. The

estimated metal content does not include consideration of any other mining, mineral processing, or metallurgical recoveries. Fiore reports these historic resources for illustrative purposes only. Although the estimates are believed to be reliable and relevant, a qualified person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves, and the Company is not treating the historical estimates as current mineral resources or mineral reserves. The Company has not yet determined what additional work would be required to upgrade the historical mineral resource estimate to a current mineral resource estimate.

Category Tonnes Gold Grade (g/t) Contained Metal (Au Oz) Indicated 28.5 Mt 1.89 1.74 Moz Inferred 4.6 Mt 1.30 0.19 Moz

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EXPLORATION PROJECTS

CHILE ▪ Strategic Land position in Chile ▪ Cerro Tostado – 1,500 Ha south of Yamana’s flagship El Peñon mine, with high-grade silver intercepts ▪ Rio Loa – High-sulphidation epithermal project near Gold Field’s 3.8 Moz Salares Norte discovery

Hole From (m) To (m) Width (m) Silver (g/t) TO17-001 97.0 98.0 1.0 501 TO17-002 36.3 39.0 2.7 381 TO17-003 No significantintercepts TO17-004 Previous SQ M RC Holes TEAR-07 28 30 2.0 943 CTAR-01 97 100 3.0 685 CTAR-02 185 187 2.0 413

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RESERVE AND RESOURCE

SIGNIFICANT VALUE PER OUNCE UPSIDE

Gold Rock (Historical Resource) Tonnes (000s) Grade (g/t) Contained Metal (Au 0z) Indicated 12,967 0.75 310,000 Inferred 17,893 0.58 331,000 Golden Eagle (Historical Resource) Tonnes (000’S) Grade (g/t) Contained Metal (Au Oz) Indicated 28.5 1.89 1.74 Moz Inferred 4.6 1.30 0.19 Moz Pan Mine Resource (including reserves) Tonnes (000s) Grade (g/t) Contained Metal (Au oz) Measured 8,184 0.62 159,000 Indicated 19,091 0.45 275,000 Measured + Indicated 27,275 0.48 434,000 Inferred 5,144 0.45 72,000 Pan Mine Reserve Tonnes (000s) Grade (g/t) Contained Metal (Au oz) Proven 6,740 0.62 137,000 Probable 12,264 0.45 182,000 Proven + Probable 19,004 0.51 318,000

Updating Historical Resources in 2018

See footnote slide 14 See footnote slide 16

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SHARES OUTSTANDING OPTIONS & WARRANTS SHARES – FULLY DILUTED MARKET CAPITALIZATION (CDN$) DEBT (CDN$) CASH (CDN$)

FIORE GOLD CAPITAL STRUCTURE

97,566,128 32,109,750 129,675,878 $40 million¹

nil

$7.4 million²

  • 1. As of July 16, 2018 2. As of March 31, 2018

The information on this slide relating to pro-forma capital structure may constitute “financial outlook” within the meaning of applicable securities laws in Canada. See cautionary note on slide 2.

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SLIDE 20

Balanced portfolio

  • f exploration and

development assets Pan Mine provides a solid base for growth through expansion, consolidation and discovery District scale exploration in Nevada’s Battle Mountain-Eureka trend Debt-free and positioned to acquire, explore and develop regional assets

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