DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. To the fullest extent permitted by law, the Pharmanet Group Limited (to be renamed 'Calidus Resources Limited') (the Company or Calidus) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This presentation may include forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of Calidus. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Calidus does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based. COMPETENT PERSON'S STATEMENT The information in this presentation that relates to exploration results and mineral resources for the Warrawoona Gold Project is based on, and fairly represents, information compiled or reviewed by Mr Daniel Saunders that was first reported on 22 March 2017 by the Company under the 2012 Edition of the “Australasian Code of Reporting of Explorati on Results, Mineral Resources and Ore Reserves” (2012 JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 22 March 2017 and that in the case of its mineral resources estimate, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mr Daniel Saunders is Principal of GeoServ Consulting Pty Ltd, and is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Daniel Saunders is a full time employee of GeoServ Consulting Pty Ltd and has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code.
• Gold belt consolidated for the first time • Existing Resource of 410,000oz at 2.2g/t from surface HIGH QUALITY ASSET on granted Mining Leases • Significant exploration upside defined with immediate drill targets • Well funded $4.7m cash upon listing • Strategy to rapidly expand resource via brownfields AGGRESSIVE EXPLORATION PROGRAM extensions to current mineralisation and regional targets • Experienced in all aspects of project development from exploration through development and into production PROVEN MANAGEMENT • Raised significant capital for gold exploration and development
Well funded to support immediate and steady news flow: • Field exploration: Mapping, sampling, geochemistry on untested shears • Initial 10,000m focussed drill program: Targeting the definition of additional resources and increased resource confidence, to commence on listing • Metallurgy: Further testwork from Klondyke and initial testwork from Copenhagen
CAPITAL STRUCTURE BOARD OF DIRECTORS & MANAGEMENT 30 years’ experience in stockbroking and 717.7 SHARES ON ISSUE KEITH COUGHLAN funds management on ASX, AIM and TSX. (post Capital Raise) Million NON-EXECUTIVE CHAIRMAN Talga, European Metals, Southern Hemisphere (Corporate) Mining. $14.3 MARKET CAP (undiluted at A$0.02) Million DAVID REEVES 25 years’ mining experience in Australia, Africa and Europe. MANAGING DIRECTOR $4.7 CASH Delta Gold, European Metals Holdings. (Mining Engineer) (upon listing) Million Over 15 years’ experience in exploration and ADAM MIETHKE mine geology, funds management and DEBT $0 NON-EXECUTIVE DIRECTOR corporate advisory. Rio Tinto, Snowden, Regent Pacific Group, (Geologist) Argonaut. $9.6 ENTERPRISE VALUE Million 35 years’ international mining experience, PETER HEPBURN-BROWN managing gold mines in Australia and NON-EXECUTIVE DIRECTOR internationally. 192.5 OPTIONS (Mining Engineer) Medusa Mining, Focus Minerals. Million 1 (will raise $4.7m if exercised) CPA and Chartered Company Secretary A- 250 Million 2 JAMES CARTER PERFORMANCE with 20 years’ experience. COMPANY SECRETARY AND CFO B- 275 Million 3 SHARES Straits Resources, Keras PLC. 1. 118.5m @ 2.5c, 50m @ 2.0c and 24m @ 3.0c 3. On completion of a positive PFS 2. On 500,000 ounces of Indicated Resource
HISTORICAL GOLD MINING DISTRICT • First mined in 1897 • +200 historic mines and fragmented tenement ownership • Last major drill campaign in 1991 PROJECT HIGHLIGHTS • 253km 2 under control, application or option • Resource and initial focus located at Klondyke • Limited regional drilling over 38km of untested outcropping shears 1. Reported in accordance with JORC (2012) Guidelines – Includes Klondyke and Copenhagen
• Current Resource: • 5.6Mt at 2.08g/t Au for 374,000oz • Confined to just 2km of 7.5km strike of Klondyke shear • Large, high grade intercepts in drilling • Metallurgical test work to 150m depth shows free milling ore with recoveries of 93% to 96% • Clear exploration strategy to test infill zones and extensions to current resource • Predictable geology, open along-strike and down-dip • Untested parallel veins and cross-cutting features • 10,000m drilling initially planned
Historical Mine Working LEGEND JORC 2012 Resource Interpreted Fault View Kopke’s Reward Cuban 90g/t 106g/t St George 167g/t Klondyke King 18g/t Klondyke Queen 187g/t * Grades illustrated are historical life of mine head grades
Historical Mine Working LEGEND JORC 2012 Resource Interpreted Fault View 6m @ 3.24g/t Au from 34m 19m @ 3.44g/t Au from 53m 14m @ 3.83g/t Au from 62m TARGETED RESOURCE EXTENSIONS * Grades illustrated are historical life of mine head grades
Copenhagen, Coronation Fieldings Gully View British Exploration of Aus. 184g/t Great Western 52g/t Gauntlet Gift 50g/t 46g/t Princess of Alaska 47g/t Klondyke Boulder 40g/t Klondyke Queen 187g/t * Grades illustrated are historical life of mine head grades
• 78% of historical drilled intercepts are shallower than 100m • Defined mineralisation extends 7.5km along strike with large number of workings • No geophysics and no or very limited exploration and testing of parallel structures • Tangible upside via infill and extensional drilling * Grades illustrated are historical life of mine head grades
INITIAL DRILL PROGRAMME • 7,000m of drilling in Klondyke resource extensions and upgrade • Targeting in-fill of current resource and increasing level of confidence • Commence step-out drilling to the west initially
• Further potential upside via multiple additional largely unexplored multiple shears to west of main shear • Covers seven mining licences and two exploration licences/applications
COPENHAGEN • JORC 2012 Inferred Mineral Resource of 180,000t @ 6.1g/t to maximum of 100m depth and along 140m of strike • Open in all directions CORONATION • Lies 3km along strike of Copenhagen and is drilled over 190m strike length 9m @ 5.21 g/t from 9m 8m @ 7.64 g/t from 64m 3m @ 16.67 g/t from 16m 12m @ 7.98 g/t from surface 4m @ 5.71 g/t from 12m 2m @ 31.5 g/t from 30m FIELDINGS GULLY • Historic non-compliant resource calculated • Remains open at depth and along strike 14m @ 3.09g/t from 53m 4m @ 5.29 g/t from 12m 3m @ 17.58g/t from 20m
A A’ A A’ COPENHAGEN • 3,000m of drilling planned in 2017 for Copenhagen and Coronation • Mapping confirms prospectivity to be followed up with targeted soil sampling
MARBLE BAR GOLDFIELD • Produced 170,000oz from 196,500t • No modern exploration • 35 recorded old workings on tenement
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