Project Generation in Mexico Searching for blind deposits in a world-class belt Corporate Presentation, January 2017 1
Cautionary Statement This presentation contains certain forward-looking statements concerning anticipated developments in Prospero’s operations in the future. Forward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimates,” “potential,” “possible,” and similar expressions, or statements that events, conditions or results “will,” “may,” “could,” or “should” occur or be achieved. These forward-looking statements may include statements regarding exploration results and budgets, reserve estimates, mineral resource estimates, work programs, capital expenditures, timelines including timelines for third-party studies and issuance of permits to operate by various government agencies, strategic plans, the market price of metals, costs, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements due to a variety of risks, uncertainties and other factors. Prospero’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Prospero does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations and opinions should change. Cautionary note to U.S. investors: the terms “measured and indicated resource”, “mineral resource”, and “inferred mineral resource” used in this document are Canadian geological and mining terms as defined in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Standards on Mineral Resources and Mineral Reserves. We advise U.S. investors that while such terms are recognized and required under Canadian regulations, the SEC does not recognize these terms. Mineral Resources do not have demonstrated economic viability. It cannot be assumed that all or any part of a Mineral Resource will ever be upgraded to Reserves. Under Canadian rules, estimates of inferred mineral resources may not form the basis of or be included in feasibility or other studies. U.S. investors are cautioned not to assume that any part of an inferred mineral resource exists, or is economically or legally mineable. 2
Who Are We? • A Project Generator focused on finding world-class precious metal projects in Mexico • A highly experienced technical team applying a unique blend of practical exploration experience and cutting-edge science We have.. • A strong portfolio of drill-ready targets, with a pipeline of additional projects • Low cost programs based on 60+ years of in-country experience • A ca. $10m market cap’ with 30m shares issued 3
Prospero’s Strategy Use state-of-the-art geological thinking to target blind mineral deposits in Mexico’s world-class Altiplano mineral belt. “Prospero is identifying targets where the present level of erosion lies above, but relatively close, to the top of epithermal ore zones. These represent the largest untapped potential in Mexico ´ s mineral belts. Mexico ´ s exploration history has now evolved and matured to a level that requires the application of modern, multi-disciplinary geologic tools to look for concealed targets.” 4
Recent News September 2016 PSL closed a $1.85M private placement 20c Unit: 1 share + full warrant @ 30c for 3 years PSL now has $1.8-1.9M cash and is restarting its generative programs & marketing efforts. 5
Board of Directors An experienced board with diverse resource company experience. 6
Share Structure TSX.V: PSL Current as of November 8, 2016 Shares Issued 30.54 m Options Outstanding 875 k Warrants Outstanding 15.11 m Fully Diluted 46.53 m Cash $1,800,000 52-Week Range $0.05-$0.38 Average daily trading volume 29,400 Management & Board ownership* 17.7% PSL.V 12 month chart *Fully diluted Distribution of shareholders 7
Prospero’s Method Old fashioned prospecting & mapping with experienced geologists Structural analysis to identify Quartz textures and petrography to controls on vein location determine mineralizing fluid conditions Alteration clay mineralogy to Fluid Inclusion Analysis to determine determine paleo-pH & paleo- Trace element geochemistry to temperature & chemistry of the fluids temperature in steam heated zone determine level in the system and depth of formation FELSIC VOLCANICS BASEMENT EXPLANATION SMECTITE ILLITE/SMECTITE ILLITE ADULARIA 8
How does all that science help us? If we identify an alteration system, we can make an educated guess of its size potential, and as to where we are in relation to Au-Ag mineralization. 100m above? 200m above? We can also make assumptions about whether it’s likely to be a Au-Ag system, or base metal rich, for example. 9
Active Projects Project Ownership Comments Matorral 100% PSL Ag-Au. Drill ready. Close to the historic Magistral mine. High-level epithermal target with silicification Durango over strike length of 4km. Assays trace and up to 473 g/t Ag & 0.65 g/t Au. 9,066 hectares El Petate 100% PSL Au-Ag. Drill ready. 35km NW of Pachuca. High-level epithermal target with multiple jasperoid reef. Hidalgo CRD and sediment hosted Au potential. Drill program already permitted. 6,868 hectares Pachuca SE 100% PSL Ag-Au. Drill ready. 25km east of Pachuca. This project is on strike with the historic Vizcaina vein of the Hidalgo Real del Monte-Pachuca district. 7,256 hectares Bermudez 100% PSL Au-Ag. Drill ready. 2.5 km long system of LS epithermal veins, close to Mulatos & Dolores mines. Chihuahua Probably represents the upper levels of an epithermal vein system. 430 hectares 10 10
Major Metallogenic Trends of Central Mexico & Prospero Projects Prospero Silver project 11 11
Santa Maria Del Oro (Au, Ag) Matorral & Western Lineament Durango • 9,066 hectares 100% owned by Prospero Land package sits either side of Magistral del Oro mines (historic average grade > 15 g/t Au) • • Matorral zone: – high-level epithermal with large quartz reefs and anomalous Ag-Au & base metal geochemistry. – multiple structures, large size & elevated geochemistry suggest system could be 150- 200m above a mineralized epithermal system – topography ideal for drill testing the system: 4-6 holes needed for initial test Western Lineament zone: • – Geophysical lineament (ground mag’) beneath younger cover, which parallels in strike and dip known veins at the Magistral del Oro mine. – More conceptual than Matorral but proximity to historic mine is compelling 12 12
Santa Maria Del Oro Matorral & Western Lineament targets 13 13
Matorral Large quartz reefs along structures + anomalous geochemistry • The Mexican Altiplano contains multiple large, high grade epithermal deposits with minimal geochemical signature at surface • Matorral features highly elevated geochemistry at surface for a high- level epithermal environment Matorral surface geochemistry compared to “average” values for Altiplano high level epithermal systems Au ppb Ag ppm Zn ppm Pb ppm Cu ppm Mo ppm Hg ppm As ppm Sb ppm Typical Deposit <200 <2 <200 <100 <50 <10 <100 <1,000 <50 Matorral <500 <178 <4,600 <1,250 <240 <1,100 <100 <4,900 <2,900 14 14
El Petate (Au, Ag, Pb, Zn) Hidalgo • 6,868 hectare land position 100% owned by Prospero. Two broad zones defined: Petate East and West. • High-level quartz reefs & jasperoid over area of 5km x 4.5km • Extensive sampling (1196 chip samples) has defined multiple precious metal anomalies • Apartadero Target (West Zone): 500 meters long with Au from 1.0 to 6.62 g/t associated with Au-Ag-Hg-Sb-As • Petate #1, #2 & #3 targets (East Zone) : 1.5 km long with Ag from 50 to 140 g/t range, and Au up to 0.49 g/t associated with Ag-Au-As-Ba-Fe-Mn. • Petates is a robust system with excellent potential to host a preserved replacement type deposit and/or a sediment-hosted gold system. • 27 diamond drill collars already permitted with land-owner permission 15 15
Petate Project Distribution of jasperoids and associated gold anomalism Jasperoids Gold in chip samples 16 16
Silicified reef at the Petate project 17 17
Pachuca SE (Ag, Au) Hidalgo • High-level epithermal alteration in volcanics, 24 km southeast of the massive Pachuca – Real del Monte vein district. • Attractive gold and silver geochemistry when compared to the geochemical signatures of the Vizcaina structure above the Pachuca mine. • A similar assemblage of clay minerals in the argillic alteration cap of both systems. • Association with a more felsic volcanic pile than the Pachuca – Real del Monte host rocks. • Exposed in an erosional window for a length of 5km across the system. 7,256 hectare land package 18 18
Pachuca SE Controlling structures at PSE appear to parallel the main controlling fault at the Pachuca mining camp to the north. Structurally controlled clay (illite-smectite- pyrite) alteration in volcanics, exposed in an active clay pit, Pachuca SE project 19 19
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