SOUTHERN CROSS West Oz Gold Country July 2020 Australia FORWARD - - PowerPoint PPT Presentation

SOUTHERN CROSS

West Oz Gold Country

July 2020

Australia

A LT A N R I O T S X : A M O A S X : A M O I T A R G E T I N G G O L D A L O N G T H E F C S Z

FORWARD LOOKING STATEMENT

• This presentation has been prepared by Altan Rio Minerals Limited (“Altan Rio”) to provide an overview of Altan Rio’s mineral properties and current exploration activities. Any statements, opinions,

projections, forecasts or other material contained in this presentation do not constitute a commitment, representation or warranty by Altan Rio or its directors, officers, agents or employees. The directors, officers, agents and employees of Altan Rio shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way

• ut of, or in connection with, the information contained in this presentation. This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is

not to be distributed to third parties without the consent of Altan Rio. An investment in Altan Rio is considered to be speculative in nature. Each individual should rely solely upon its own investigations and inquiries with respect to Altan Rio and agrees it will not in any way rely upon this presentation. Altan Rio recommends that you consult your own professional advisor(s).

• Certain statements in this presentation may constitute “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause Altan Rio’s actual results,

performance or achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These statements relate to future events or future performance and reflect the expectations of management regarding growth, results of operations, performance and business prospects and

• pportunities. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate

indicators of whether or not such results will be achieved. Forward-looking statements are based on the beliefs, estimates and opinions of Altan Rio’s management on the date the statements are

• made. Altan Rio undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
• All technical and scientific information contained in this presentation has been reviewed and approved by Neal Leggo, a “Qualified Person” as such term is defined in NI 43-101 of the Canadian

Securities Administrators. Mr. Leggo is a Member of the Australian Institute of Geoscientists and is a Principal Geologist with CSA Global Pty Ltd, Mining Industry Consultants, an ERM Group Company.

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Company Overview – Share Structure

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Boar Board & Management AMO.H Current Price (cps) 0.10 12 Month High (cps) 0.13 Shares on Issue (m) 50.8 Options On issue (m) 4.2 Market Capitalization ($m) 5.1 John L C Jones (AM) Chairman Paul Stephen CEO Evan Jones Director Kerry Griffin Director Jim Harris Director Greg Wilson VP Exploration

AUSTRALIA USA CANADA MONGOLIA OTHER UK

SH SHARES HE HELD Alt ltan Ri Rio

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Western Australia - GOLD

• Geoscience Australia estimates that 60% of Australia’s

gold reserves are in Western Australia.

• The Yilgarn Craton in Western Eastern Goldfields is

Australia’s premier gold province with major Archean greenstone-hosted deposits (diagram 1)

• The Southern Cross North Project lies in the center of

the Yilgarn Gold Field which has recorded gold production of 12.3 Moz from 1900 to 2019.

• Altan Rio holds 15 granted Prospecting Licenses

covering 23.7 km² representing the second largest tenure over the proven gold hosting structure - the laterally extensive gold rich Frasers-Corinthian Shear Zone (FCSZ).

• Targeting large virgin discovery beneath Salt Lakes

and Farm land - untested at depth & in close trucking distance to two operating Gold Mills.

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** Government of Western Australia Department of Mines, Industry Regulation and Safety.

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Geology and Location

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Defined structure (Shear Zone) - proven discovery rich

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The FCSZ proven to host gold mineralization along its entire length hosting multiple economic ore bodies at regular intervals including;

• Frasers

(1.2 Moz)

• Golden Pig

(640Koz)

• Hopes Hill

(214 Koz)

• Pilot

(54 Koz)

• Corinthia

(190 Koz)

• Copperhead

(1.5 Moz) Along Strike and dip extensions extend into Southern Cross North Tenure Thick lacustrine sediments (Salt Lakes) obscuring the extension of the Golden Pig, Frasers and Hopes Hill mines. Known Drill targets highlight the potential for virgin discovery under the Lake Koorkoordine salt lake system and surrounding farm land

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Targeting 5 Main Prospects

• Pilot (50% JV).
• Resource / Reserve definition
• Toll Milling agreement in place
• Short term cashflow
• Aries
• EIS - WA Government co- funded drilling approved 1st

July 2020

• Targeting extensions of the Frasers Mine (1.2M oz)
• Paddocks
• Access denied by local farmer for +30 years
• Altan successfully negotiated land access June2020
• GPN
• Extension of the Golden Pig Mine (640t z)
• Glen Innes
• Potential new discovery North of the Corinthia Mine
• Follow up successful 2019 Drill program

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Long Section –Very Few drill holds greater than 50m

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Northern Tenements – Drill Density

50–100m vertical

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0-50m vertical Greater than 100m vertical.

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Southern Tenements – sparsely tested below 50 meters

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0-50m vertical 50–100m vertical Greater than 100m vertical.

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Pilot– Historical underground and Open Pit Mine

• Historical production (open pit –

1994): 0.56 Mt @ 3.03 g/t for 54,554 oz Au.

• Mineralization occurs in three

lode systems, West, Main and East, which merge and split along strike.

• Open pit mining was completed

to 65 m below surface, with stopes immediately below pit floor estimated to be 15 m in width and 40 m in length.

• Underground sampling and

drilling by Greater Western Consolidated (c. 1961) determined mineralization extended to depths of 150 m below surface (Troy Resources, 1994).

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Pilot– Cashflow Opportunity

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Southern Tenements

• Continuous tenure from the Golden Pig

to Corinthian mine covering 10.5 kilometers of the FCSZ.

• Northern strike extension of the Golden

Pig deposit gold endowment 692,219 oz @ 6.05g/t

• Subparallel Structures to the FCSZ

identified utilizing proprietary extensive quality geophysical and geochemical data base.

• FCSZ is estimated to be 40 to 50 meters

wide and contains strong mineralization below 100m. Historical drill holes to be followed up include;

• 5m @ 8.30 g/t from 98 meters.
• 12.1 meters grading 4.51 g/t Au

from 201 meters

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Aries Target – Golden Pig /Frasers Mine Extension

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Aries Target - 12.1m @ 4.51 g/t

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Golden Pig & Frasers Mine extension – change to Geo interp

• Northern strike extension of the Fraser Mine trending under the

Lake Koorkoordine salt lake along with the continuation of the Golden Pig trend into the SW corner of the tenement package.

• The Fraser/Golden Pig mineralised complex can be traced north

using both the aeromagnetic and existing drill data.

• Interpreted mineralised structures extend beneath recent alluvial

paleochannel sediments which have hindered previous attempts at

• exploration. (targets are under a salt Lake)
• Much of the historic drilling has been shallow and ineffective given

that a stripped profile exists directly beneath the paleochannel which limits gold dispersion from the mineralised structures.

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Golden Pig Underground Mine

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Ares Cross Section

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Ares Target

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Corinthian South to Hopes Hill Mine

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• located between the Corinthian and Hopes

Hill mines.

• Very strong auger geochemical gold

anomalism has been defined over a strike length of 4.3km between, and along strike from, the Corinthian and Hopes Hill deposits.

• Drilling has confirmed the surface gold

anomalism and intersected ore-grade mineralisation within the FSZ at numerous locations along this 4.3km trend.

• Drilling has identified numerous mineralised

shoots along the FSZ with best gold-in-hole values including 66.0, 16.2, 11.2, 8.9 and 7.9 g/t Au.

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Pilot north

• Targets HH01-HH02 cover a combined strike of

1.95 km of highly prospective stratigraphy and moderate gold anomalism. Outside of the two main areas of gold anomalism, drilling is considered to be largely ineffective comprising wide spaced, vertical and generally shallow drilling (see Section 16310N below). Historical drill evaluation of the FCSZ has only partially tested the FCSZ, further exploration comprising RAB and RC drilling is warranted.

• Two N-S structures evident in the magnetic

imagery are considered analogues to the Pilot deposit and are rated highly in terms of exploration prospectively.

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Northern Tenements

• Corinthia North Tenements
• The Corinthia North tenements cover 11.5 kilometers of the FCSZ. In

addition to the strong prospectively of the entire strike length of the FCSZ, several structures, subparallel to the FCSZ have also been identified utilizing both geophysical and geochemical datasets.

• All structures are considered highly prospective for gold with strong

auger geochemical gold anomalism and near surface drill intersections.

• A total of 12 discrete geophysical and/or geochemical targets have

been identified (CN01-CN12).

• Target CN06 is a target with structural complexity/disruption of

magnetic units evident in the aeromagnetic image and significant near surface drill intercepts including 3m @ 9.51g/t from 48 meters in drill hole SXR032 and 4m @ 5.5g/t from 18m in drill hole UNKUNK020.

• Target CN04 is a zone of interpreted magnetic destruction adjacent to

the FCSZ which has recorded drill intercepts of 2m @ 7.72g/t from 53m in drill hole 88BSRC008 and 5m @ 2.0g/t from 23m in drill hole 88BSRC003.

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Toll Treatment Optionality – short term cashflow for smaller reserves

• Toll Treatment mill at Marvel Loch within close trucking distance. ~

30km

• Ore-grade drilling results have been achieved at numerous

locations.

• Tolling agreement can bring in short term cashflow to fund

extensive exploration.

• No Native Title exists over the project area. All tenements on

Crown Reserve and Freehold Land. Allowing timely development

• f any economic ore identified
• Many known gold occurrences were overlooked by the previous

large companies that owned them and have not been targeted for smaller scale deposits < 1M oz

• Significant value in smaller minable reserves given the availability
• f the Marvel Loch mill.
• Generate Cashflow to fund significant Drilling of entire Shear Zone

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Production History – Southern Cross

• The first substantial gold production from the sequence

was from the Copperhead Mine at Bullfinch in the 1950s.

• The majority of this production has come from within

the greenstone sequences and ranges from Copperhead in the north to Bounty in the south and incorporates the Westonia deposits in the west.

• The northern half of FCSZ, Altan Rio’s tenure represents

the majority of the mineralised belt extending south from the Copperhead mine site for ~28km to the town

• f Southern Cross.
• With Minjar Gold acquiring the Southern half along with

much of the surrounding tenure and Marvel Loch mill for $330M in 2017.

• All major gold deposits in the northern greenstone belt

are located on or immediately adjacent to major strike parallel structures.

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Deposit

Tonnes Grade (g/t) Production (Oz)

Copperhead(1)

7,731,067 3.75 932,256

Corinthian(2)

300,000 5.90 58,200

Pilot(3)

305,000 4.15 40,700

Hopes Hill(2)

1,727,000 1.80 93,280

Golden Pig(1)

3,558,974 6.05 692,219

Fraser(1)

4,886,500 4.76 748,294

MarvelLoch(1)

28,557,342 2.50 2,298,887

Nevoria(1)

5,512,600 3.74 662,198

Yilgarn Star(1)

8,721,900 4.51 1,265,737

Great Victoria(1)

4,173,000 2.74 368,212

Bounty(1)(4)

6,000,000 5.70 1,100,000

Edna May(1)

5,419,000 3.64 634,043

TARGETING

KNOWN GOLD

DEPOSITS ALONG THE

FCSZ

SOUTHERN CROSS PROJECT

Australia Contact: Paul: 040 8850525