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T S X . V : M T O
Canadian Gold Exploration and Production Company
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This presentation contains “forward looking statements” concerning thebusiness , operations and financial performance and condition ofMetanor Resources Inc. (Metanor). Forward-looking statements include,but are not limited to, statements with respect to the future price of gold,the estimation of mineral reserves and resources, the realization ofmineral reserves estimates, the timing and amount of estimated futureproduction, cost of production, capital expenditures, costs and timing ofthe development of new deposits, success of exploration activities,permitting time lines, hedging practices, currency exchange ratefluctuations, requirements for additional capital, government regulationof mining operations, environmental risks, unanticipated reclamationexpenses, timing and possible outcome of pending litigation, titledisputes or claims and limitations on insurance coverage. Generally,these forward-looking statements can be identified by the use offorward-looking terminology such as «plans», «expects» or «does notexpect», «is expected», «budget», «scheduled», «estimates», «forecasts»,«intends», «anticipates», or «does not anticipate», «believes» or variationsof such words and phrases or statements that certain actions, events orresults «may», «could», «would», «might» or «will be taken», «occur» or«be achieved». Forward-looking statements are subject to known andunknown risks, uncertainties, and other factors that may cause the actualresults, level of activity, performance or achievements of Metanor to bematerially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the
integration of acquisitions; actual results of current exploration activities;conclusions of economic evaluations; changes in project parameters asplans continue to be refined; future prices of gold; possible variations inore reserves, grade or recovery rates; failure of plant, equipment orprocesses to operate as anticipated; accidents, labour disputes; delays inobtaining governmental approvals or financing or in the completion ofdevelopment or construction activities and other risks of the miningindustry. Although Metanor has attempted to identify important factorsthat could cause actual results to differ materially from those containedin forward-looking statement, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can be noassurance that such statements will prove to be accurate, as actual resultsand future events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. Metanor does not undertake to update anyforward-looking statements that are included in this document, except inaccordance with applicable securities laws.
Pascal Hamelin, P. Eng., President and COO, is the Qualified Person underNI 43-101, responsible for reviewing and approving the technicalinformation contained in this presentation.
All amounts are in CND dollars, unless otherwise stated.
Forward-Looking Statements
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BachelorOnly permitted Mill in the Urban-Barry campModern infrastructure in placeSignificant growth potential at depthAccess to newly defined Moroy zone330,000 oz produced since 1981
A Gold Company with MULTI-PROJECT GROWTH POTENTIAL
BarryHighly prospective land package in heart of Urban-Barry campNewly defined high grade shear zones open in all directionsBulk sample program planned in Q3-Q4 2018Decline in progressMultiple drill targets to follow up in 2018
MoroyGeologically comparable to Bachelor mineCurrently being drilled and expanding resources at depth and along strikePotential to intersect with Bachelor trend and have large dilated zones at depthDrift from Bachelor mine reached the two known Moroy veins in April 2018
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TSX VENTURE LISTING TSX.V:MTO
Shares outstanding as of Mar. 31, 2018 101.9 M
Options 3.2 M
Warrants 26.0M
Fully diluted 131.2 M
Market capitalization $57.0 M @ $0.56
Cash 5 M
Debt $0M
Capital Structure
WEXFORD CAPITAL LPShares: 12.45%Part Dil: 17.58%
KIRKLAND LAKE GOLDShares: 12.04%Part Dil: 17.03%
E. SPROTTShares: 11.90%Part Dil: 16.28%
Van EckShares: ±6.28%Part Dil: ±9.13%
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LATEST NEWS
2018-04-09: Completes Moroy Access and intercepts 50.9 g/t Au over 4.8m
2018-03-01: Extends Exploration Drilling at the New Bart Zone Intersecting 18.9 g/t Au over 1.6 metres in a g High-Grade Shear Zone
2018-02-27: Step out drilling extends main zone at depth intercepts 21.2 g/t Au over 1.7m at Barry Project
2018-01-19: Intersects 14.3 g/t Au over 4.6m at Barry and moves towards UG bulk sample
2018-01-18: Moroy vein system extended by over 100m to depth with 7.00 g/t Au over 3.9m
2017-12-28: Completes Placement of $11.4M
2017-11-15: Hits multiple gold-bearing shear zones at Barry; intercepted 14.5 g/t Au over 2m
2017-11-02: Intersects 41.6 g/t Au over 1.2m at Moroy veins system South of Bachelor mine
Latest News
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May 2017 April 2018Bachelor Mine• Added multiple UG equipment• Increased ramp dimension to accommodate truck
haulage• Ramp to sub-level 6• 5 UG drills • Increased mine life an additional 2 years targeting
25,000 oz Au / yr with continuous production• 3,300 feet of track drift to access Moroy
Moroy Zone• Developed full access to Moroy Zone• Opened up 2 veins and new mining horizons• Target production 35,000 oz Au / year
Barry Project• Underground resource in progress• 3 surface drills targeting high grade shear zones• Portal completed with decline in progress• Bulk sample to be completed by Q4 2018• Comprehensive 3D model
Rapid Project Advancement
Bachelor Mine• Minimal UG equipment• Ramp to sub-level 3• 3 UG drills • 1 year mine life targeting 25,000 oz Au / year
Moroy Zone• Only structures identified at surface• Minimal drilling completed
Barry Project• No underground resource• 1 surface drill targeting around existing pit
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Good infrastructure, efficient and expandable mill
Stable political environment
Executed agreement with First Nations community
Within highly prospective Urban-Barry camp adjacent to Windfall project
Bachelor and Barry
M I L L L O C A T I O N
B A C H E L O R
7,718HA 7,335HA
B A R R Y
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Barry Cross SectionO P E N A T D E P T H A N D A L O N G S T R I K E – S E C T I O N 8 0 0
Lithology Au g/t
HIGH GRADE SHEAR ZONES
LOOKING 240º AZIMUTHSOUTH-WEST
MB-17-935.5 g/t5.0m
MB-17-959.5 g/t2.0m
MB-17-386.5 g/t2.2m
MB-17-606.4 g/t2.1m
MB-51 (1996)7.1 g/t2.0m
MB-17-389.3 g/t2.1m
VERTICAL SHEAR
Shea
r 95
0
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Barry Open Pit and UGO P E N A T D E P T H A N D A L O N G S T R I K E W I T H N E W S H E A R Z O N E S
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Barry UndergroundC O N C E P T U A L S C H E M A T I C 3 D
Proposed Portal
Multiple High-Grade Shear Zones with newly defined conjugate Tensional Veins
Proposed Ramp
Sublevel Access Along Strike of Shear Zones
Stope
Tensional Veins connecting main vertical shears/feeders
Raise
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Barry UG ProjectR A P I D A D V A N C E M E N T O F P R O J E C T S
Q12018Q42017
PERMITTING AND CONSTRUCTION
Q22018 Q32018 Q42018
RAMP DEVELOPMENT AND BULK SAMPLE
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BachelorL O C A T I O N A N D P R O P E R T Y P A C K A G E
Hwy
Production ongoing from Bachelor Mine
Access to Moroy structure completed
2 underground diamond drills are exploring at depth at Bachelor and Moroy
Initiated bulk sample at Moroy
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Bachelor InfrastructureL O N G S E C T I O N L O O K I N G N O R T H - E A S T – S E C T I O N A - A ’
- SUB-LEVELS - RAISE
Level 14
Shaft
Level 13Level 12
Level 11Level 10
Level 08
Level 06
Level 09
Level 07
Level 05
Level 04
Level 03
Level 02
Level 01
RampCurrent Shaft Depth 2,300 feet
Moroy Zone
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Bachelor MineL O N G S E C T I O N L O O K I N G N O R T H – S E C T I O N A - A ’
O’BRIENGRANITE INTRUSIVE
PARALLEL VEIN SYSTEM ZONE**CURRENTLY EXPLORING**
NEW GOLD ZONE 250 M BELOW LOWEST LEVEL
A AI
PLANNEDRAMP EXT
- UNMINED DEFINED STOPES - MINED STOPES
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Bachelor and Moroy Section – Looking EastC U R R E N T U G D R I L L I N G W I T H S I G N I F I C A N T I N T E R C E P T S
LVL 6 EXT
MY17-0097.0 g/t3.9m
Bachelor Mine Trend
Moroy Trend
MY17-0057.5 g/t2.1m
MY17-0077.4 g/t2.7m
LVL 11 Expl
Dilation Zone of Intersecting Structures
MY18-03450.9 g/t4.8m
MY18-0286.3 g/t2.5m
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Moroy Long Section – Looking NorthP I E R C E P O I N T S O F C U R R E N T E X P L O R A T I O N D R I L L I N G A L O N G V E I N S E T S
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BachelorG O L D M I N E A N D M I L L
R E C O V E R Y
>96%A V A I L A B I L I T Y
>95%M I L L C A P A C I T Y
800TPD
C U R R E N T S H A F T D E P T H
700m
H O I S T I N G C A P A C I T Y
1,500TPD 1,200m
P O W E R A V A I L A B I L I T Y
>7MVA
D E P T H C A P A C I T Y
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Bachelor Mill
BACHELOR MILL
VAL-D’OR
MATAGAMI
CHIBOUGAMAU
GANDEX24,000 Oz
LAC SHORTT82,300 Oz MARIPOSITE
45,000 Oz
SPRINGER11,000 Oz
FENTON LAKE SOUTH64,800 Oz
LAC ROULEAU133,100 Oz
WINDFALL1.6 M Oz
BARRY304,000 Oz
MACHO RIVER101,000 Oz
MORONO37,300 Oz
LSQ
TOUSSAINT42,800 Oz
OSBORNE249,200 Oz
DISCOVERY531,500 Oz
FLORDIN303,700 Oz
CARTWRIGHT28,000 Oz
LAC ROSE6,700 Oz
GLADIATOR273,000 Oz
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MONSTER LAKE433,000 Oz
The Only Mill in the Heart of the Urban-Barry Camp
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Exploration PotentialP L A N V I E W W I T H H I S T O R I C A L S H O W I N G S A N D T A R G E T S
32 g/t over 2.5m Chip Sample
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GREG GIBSONInterim Chairman and CEO
Over 30 years in mine operations and management
Proven Management TeamPASCAL HAMELINPresident and COO
Over 25 years in mine management
ANIK GENDRONCorp. Secretary & Legal Advisor
Over 20 years in corporate & legal affair
NORMAN PARKERGeneral Manager of Operations
Over 30 years in mine operations and management
CLAUDE GOBEILExploration Manager
Over 40 years in exploration and mine geology
JAMES N FAIRBARNChief Financial Officer
Over 35 years in accounting
Board of DirectorsGREG GIBSONChairman and CEOOver 30 years in mine operations and management
PASCAL HAMELINPresident and COO
Over 25 years in mine management
RON PERRYDirector
Over 30 years of accounting and finance
AKIBA LEISMANDirector
Executive Chairman of the Board and Interim CEO of Marlin Gold Mining LTD
ROBERT BRYCEDirector
Over 40 years in corporate and mine management
TRIS COFFINDirectorOver 45 years in business management
MICHEL FONTAINEDirectorCEO of Albert Mining
TINA OUELLETTEDirectorExecutive Vice President, Human Resources of Kirkland Lake Gold
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Conclusions
Proven Assets
Experienced Team
Safe Political Jurisdiction
Low Technical Risk
Bachelor generates positive cash-flow
Large Land Position in Urban-Barry Camp
Definition of UG Barry Resource Underway
Exploration Expansion Ongoing at Bachelor, Moroy, Moss, Barry, Bart and Coniagas
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Conclusions
2872, Sullivan Road, # 2 Val-d’Or, Québec, CanadaJ9P 0B9 Canada
Tel: (819) 825 8678Fax: (819) 825 8224
365, Bay Street, # 400Toronto, Ontario, CanadaM5H 2V1
Tel: (416) 775 3591