Chile Explore CongressSpeaker: Stephen Nano President & CEO TSX.V: MRZ
13 – 14 August 2014
→ Presentation 2 : Gorbea Gold Belt & Rubi Copper projectsNew targets in a mature terrane
→ Presentation 1: Project Generator JV Business Model Risk management for exploration success
2| MRZ: TSX-V
Cautionary StatementThis presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other thanstatements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events ordevelopments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are nothistorical facts and are generally, but not always, identified by the words “expects”, “plans” “anticipates”, “believes”, “intends”, “estimates”,“projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Informationinferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forwardlooking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Althoughthe Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitationand exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differmaterially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates andopinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update theseforward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
This presentation may use the term “indicated resource”. The Company advises investors that although this term is recognized and requiredby Canadian securities regulations (under National Instrument 43-101 “Standards of Disclosure for Mineral Projects”), the US Securities andExchange Commission does not recognize this term. Investors are cautioned not to assume that any part of or all of the mineral deposits inthese categories will ever be converted into reserves.
Stephen Nano, President and CEO for the Company and a “Qualified Person” under National Instrument 43-101, has reviewed andapproved the scientific and technical information in this presentation.
MIRASOL RESOURCES
3| MRZ: TSX-V
New Targets in a Mature TerraneChilean exploration has delivered many world class copper & gold deposits
Chile is thought of as one of the world’s more mature exploration terranes
Does this mean that all new discoveries will come from expensive deep exploration?
Mirasol takes a dual approach to exploration in Chile to identify new exploration opportunities
Known projects with new eyes → new geological understanding & new technologies
New projects with old eyes → new concepts + high calibre experienced geologists
Strong potential for new discovery in Chile – outcropping & covered
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Mirasol Resources: Profile• TSX:V listed 2003
• Well funded – Approx. $29.8M CAD working capital (Cash & Shares as at July 1st 2014)
• Conservative capital structure (44.2 M shares outstanding)
• High-calibre project portfolio:
o Rubi JV: First Quantum Minerals copper-gold porphyry, Chileo Five Headline Projects – large system / multiple targets / drill-ready
• Discovery-focused management & exploration team
• Demonstrated discovery success for Mirasol: Joaquin & Virginia deposits
• Delivered on business model with sale of Joaquin: US $30M with 1.3 Million shares in Coeur Mining
Mirasol is primed for the next discovery
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Stephen C. Nano, President, CEO and Director, BSc. (Hons.), +25 years in exploration and management roles in Latin America, Asia Pacific and Central Asia for major mining companies. +15 years in South America.
Timothy W. Heenan, Exploration Manager and Director, BSc., +25 years as exploration geologist and program manager throughout the Americas, with small and large mining companies. +15 years in South America
Mary L. Little, Director , MSc., MBA, +25 years as geologist, analyst and country manager for major mining companies. +15 years in South America.
Nick DeMare, Independent Director, CA, President of Chase Management Inc. and Board member of several TSX listed companies.
Borden Putnam, Independent Director, CA BSc. & MSc. 17-years as analyst for natural resources hedge funds, 20-years within the mining industry in senior management exploration and consulting positions. Working worldwide with Newmont and AMAX mining.
Bernie Zacharias, Chief Financial Officer, Co-founder of Avisar Chartered Accountants since 2004 and CFO of several TSX Venture listed companies.M
AN
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People are Our Most Important Resource S
up
po
rted
by
Team of High Calibre Chilean, Argentine and Australian Geoscientists & Technicians
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10 / 100% Mirasol owned projects Rubi FQM JV: copper, goldGorbea belt: strategic area play2 headline projects:
Atlas: silver, goldTitan: gold
3 headline projects:Claudia: gold, silverCurva: gold, silverVirginia: silver
23 / 100% Mirasol owned projects
Mirasol ResourcesSanta Cruz Gold-Silver Projects
0 100
Kilometres
Santa Cruz,Argentina
Atacama, Chile
• Excellent Project Portfolio• 100% Mirasol owned • Gold silver copper• Geographic focus
Mirasol Project Generation
Oligocene-Eocene Belt
Miocene Volcanics Belt
Jurassic Igneous Rocks
Tertiary Igneous Rocks
Lithology
Mirasol Mineral Claims
Mirasol Earn-in JV Area
LEGEND
MirasolReconaisance Region
Rubi Porphyry Copper-Gold Project Chile First Quantum Minerals JV
Known project → New eyes
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Mirasol Rubi JV Chile - First Quantum Minerals
• Targeting large porphyry copper gold deposits
• Adjacent to El Salvador & Potrerillos copper-gold-moly mining districts
• Previous exploration in the project area
• New approach / technologies / models → new outcropping & gravel covered targets
• New JV with strong partner
• Aggressive exploration in progress
• Advancing to drill testing
Mirasol / First Quantum Minerals-Rubi JV
MirasolGorbea Gold Belt /Atlas & Titan
Copper-Gold Mine/Advanced ProspectGold-Silver Mine/Advanced Prospect
Miocene-age Deposits
LEGEND
Oligocene-Eocene Belt
100% Mirasol Claims
Miocene Volcanics Belt
Mirasol Earn-in JV Area
Maricunga Gold BeltTotal 82 Moz AuTotal 243.6 Moz AgTotal 10 968 Mlbs Cu
Rubi Project
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Modified from Richard H. SillitoePorphyry copper systems (in A group of papers on porphyry Cu deposits )Economic Geology and the Bulletin of the Society of Economic Geologists(January 2010), 105(1):3-41
2
3
4
Erosion Level:LithocapQbda SaladaTarget
Erosion Level: Portezuelo & CornerTarget
Rubi JV Project: Known Project / New Eyes • Previous exploration drilling in project area – 1980’s to 90’s• New Aster & PIMA alteration / new geochemical & geophysical techniques • Improved understanding of alteration & mineralization model → New (renewed) outcropping & gravel covered porphyry & epithermal targets
Rubi ASTER Alteration Mapping
3
4
2
1
Advanced Argillic / Argillic
Intermediate argillic / Argillic
Advanced Argillic / Argillic
Propyllitic
Strong Fe Oxides
Phyllic -Argillic
1
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Rubi JV – El Salvador Porphyry District, Chile
1. FQM can extend earning 1 or 3 - 2 years by making $500k payment per extension2. FQM operates 3. Tenure fees part of FQM spend4. Signed binding Letter Agreement which allows non-invasive exploration to proceed
Year 1 Minimum Spend$1.5 M USD (no management fee) 3,000 m drilling 100% magnetic coverage
4 years 55% payment For $6.5 M USD + $1.1 M USD in staggered cash payments
+2 years 65% NI 43-101 compliant Indicated Resources
+2 years 75% Decision to mineProvide to Mirasol financing 25% interestPayback from 50% Mirasol cash flow
• Multi-target porphyry copper-gold project adjacent to world class El Salvador -Potrerillos porphyry district
• Excellent JV deal terms• Strong JV partner: First Quantum Minerals• Aggressive exploration program commenced in November 2013
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Rubi Copper- Gold JV - First Quantum Minerals
• FQM initiated exploration in November 2013 – JV Spend to date: ≈ $680,000 USD
• New property-wide, 2,460 line km Helimag survey
• Extensive property-wide soil program
• Detailed mapping & sampling
• Detailed alteration vectoring studies
• Integrated targeting
Multiple targets identified for geophysical testing & potential drilling
Drill permitting process initiated
Adjacent to world class El Salvador - Potrerillos porphyry districts
Rubi – Target Areas
QuebradaSalado veinsgold-silver intermediate sulphidation epithermalno prior drilling
Lithocap7 sq km of advanced argillic alt.high sulphidation/porphyry copper-gold-molybdenum target
Pampa del Incagravel covered porphyry & exotic copper target
Corner Zonecovered porphyry copper target
Portezuelo Targetoutcropping porphyry Alt & Veinsshallow drilling 1980’sno modern exploration copper-molybdenum-gold porphyry target
Rubi
Property
Potrerillos PorphyryDistrict22 250 Mlbs Cu & 25 Moz Au
El Salvador Porphyry District37 500 Mlbs Cu & 12 Moz Au
LegendNormal (& Positive) Magnetic Intensity
Strong Magnetic Low
Primary Au Deposit/Mine
Primary Cu Deposit/Mine
Base Image -Residual intensity
map of the total magnetic field in
Northern Chile modified from:
Economic Geology, 2001.
Vol 96: 239-248
Mirasol Gorbea Gold Belt, Chile:Atlas & Titan Gold-Silver Projects
New projects → Old eyes
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Mirasol Gorbea Gold Belt, ChileNew strategic area play: 9 x 100% owned Mirasol Projects - Most Advanced: Atlas & Titan
• Concept driven project generation → local knowledge / GIS framework study
• Atlas & Titan new discoveries, large outcropping gold-silver system
• High sulphidation epithermal oxide gold targets
• Conceptual porphyry copper-gold target at Titan
• Atlas: Extensive surface gold/silver rock chips & trenching
• Titan: Scout drill intersections up to 18m @ 2.16 g/t Au Incl. 10m @ 3.58 g/t Au
Mirasol / First Quantum Minerals-Rubi JV
MirasolGorbea Gold Belt /Atlas & Titan
Copper-Gold Mine/Advanced ProspectGold-Silver Mine/Advanced Prospect
Miocene-age Deposits
LEGEND
Oligocene-Eocene Belt
100% Mirasol Claims
Miocene Volcanics Belt
Mirasol Earn-in JV Area
Maricunga Gold BeltTotal 82 Moz AuTotal 243.6 Moz AgTotal 10 968 Mlbs Cu
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Atlas Project 7020 Ha
100% Mirasol Owned
El Dorado Project1100 Ha100% Mirasol Owned
Titan Project4120Ha100% Mirasol Owned
Alunite Illite Kaolinite
ASTER Alteration
LEGEND
Pyropyllite
MagneticDepletion Zone
Ground MagneticAnalytical Signal of the Vertical Integral (ASVI)
100% MirasolClaims
Sulfidation Trend
Low High
Ground Magnetic Imagery:Analytical Signal to Vertical Integral (ASVI)
Base Imagery: Landsat-8 (USGS 2014)
• Atlas: new prospects identified
• Anomalous rock chip gold & silver assays over 6.7 sq. km area
• New trench gold/silver channel samples
• New 5.4 sq. km IP electrical geophysics
Gorbea Gold Belt: Atlas & Titan Projects, Chile2 adjacent Headline Projects / new gold – silver discoveries / good access / workable altitude
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Atlas Project – Gorbea Gold Belt, ChileAtlas Surface Rock Chips
AGZ
ASZ
1 to 50.40.25 to 10.10 to 0.250.05 to 0.100.01 to 0.050 to 0.01BDL to 0R
ock
Chi
p A
ssay
sby
Gol
d Eq
uiva
lent
Au+
Ag/
55
50. 3 / 5.2 30.7 / 42.3 16.8 / 43.9
5 0 . 3 / 5 . 2
Labelled Rock Chip Results
Silver (g/t)Gold (g/t)
Best 3 Rock Chip SamplesFrom beginning of project to June 2014
Gold / Silver (g/t)By Gold By Silver
0.01 / 24700.08 / 6390.06 / 592
0.01/24700.02/592
0.15/415
Areas of Gold/Silver Anomalous Rock Chips
50.3/5.2
16.8/43.930.7/42.3
0.08/639
AtlasSilver Zone
Atlas Gold Zone
0.01/377
0.3/0.1
0/70.70/56.50/43.6
0.01/14
0.06/492
Pampa Zone
By G
old 2.91/1.9
1.14/2.11.32/5.7
By S
ilver 0.06/421
0.05/3860.08/248
Pleiades Base Imagery
IP Resistivity50m Depth Slice
Pleiades Base Imagery
10 500100
IP 50m Depth Slice: Resistivity (Ohm-m)
1000
NEW PAMPA ZONEAnomalous Rock Chip up to2.91 g/t Au & 421 g/t Ag
ATLAS GOLD ZONEAnomalous Rock Chips up to 50.3 g/t Au
ATLAS SILVER ZONEAnomalous Rock Chips up to 639 g/t Ag
Soil covered high-resistive zone. Local outcrops of strong quartz-alunitealteration & elevated Ba-As-Sb-Hg
Large gold-silver system / high grade rock chip assays with geophysical anomalies – defining drill target
MRZ Atlas Project 7020 Ha
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1 to 50.30.25 to 10.10 to 0.250.05 to 0.100.01 to 0.050 to 0.01BDL to 0
Rock Chip Assaysby Gold (g/t)
Trench Collar & Trace
50m IP ResistivityContour Line
500
10
100
1000
50m
IP (o
hm m
eter
s)R
esis
tivity
Dep
th S
lice
50.3/5.24
30.7/42.3
16.75/43.9
7.72/28.5
5.05/23.4
7.03/0.37
8.96/44.77.46/56.9
Magnetic Structure
50m IP Resistivity Depth Slice
Labelled Rock Chip Results,
greater than 5.0 g/t Au
Silver (g/t)Gold (g/t)
5 0 . 3 / 5 . 2 4
Funnel Shaped Resistive Bodies
Feeder Zone/Buried Dome?
Mirasol Atlas Project-7020 Ha
AGZSantiago
AntofagastaMirasol Atlas Project
Location Overview: Tenure Overview:
Atlas Gold Zone (AGZ) Prospect – Priority Drill Targets • AGZ prospect surface rock chip samples
define an 800 by 500 m area with anomalous gold/silver
• 55 samples in the range 1- 50.3 g/t Au outline multiple NW trending vuggy silica structures.
• AGZ gold structures traverse 1.1 km long trend with highly resistivity bodies –hydrothermal feeder zones (breccia’s?) or buried domes?
• New trench channel of vuggy silica structures & breccias, assay:
8.4 m @ 1.85 g/t Au,11.3 m @ 1.32 g/t Au &14.9 m @ 1.67 g/t Au
→ Priority drill targets developing
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Mirasol Atlas Project: Atlas Gold Zone (AGZ) Mineralization in Trenches
Technician sampling a
vuggy silica structure
Vuggy silica after porphyritic andesite with up
to 7.28 g/t Au & 5.77 g/t AgLate stage barite vein common in vuggy silica
structures from 3.27 - 8.85 g/t Au
Breccia vuggy silica clasts re-brecciation &
leach clasts with late fill of pink alunite, up to
5.07 g/t Au & 7.95 g/t Ag in TR-02
Jigsaw breccia of the edge of the
hydrothermal breccia zone with up to 1.09 g/t
Au in TR-02
Hydrothermal breccia zone exposed over 25m
in trench TR-02
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Atlas Silver Zone (ASZ) Prospect : Overview
AGZ
30 to 63910 to 30
5 to 102.5 to 51 to 2.50 to 1BDL to 0
Rock Chip Assaysby Silver (g/t)
ASZ Trench AlterationMirasol
Atlas Project
Pleiades Imagery (2014)
215 g/t Ag
241 g/t Ag 492 g/t Ag
117 g/t Ag
112 g/t Ag
154 g/t Ag
63.3 g/t Ag
113 g/t Ag
415 g/t Ag205 g/t Ag
140 g/t Ag
639 g/t Ag443 g/t Ag321 g/t Ag300 g/t Ag144 g/t Ag
215 g/t Ag
241 g/t Ag 492 g/t Ag
117 g/t Ag
112 g/t Ag
154 g/t Ag
63.3 g/t Ag
113 g/t Ag
415 g/t Ag205 g/t Ag
140 g/t Ag
639 g/t Ag443 g/t Ag321 g/t Ag300 g/t Ag144 g/t Ag
500
Resis
tivit
y (
Oh
m)
10
100
100050m PDP electrical GeophysicsResistivity Depth Slice
Strong Advance ArgillicModerate Advance Argillic+FeOx Banded
Moderate Advance Argillic
Strong Silicification
Sulphur Veins
Strong ArgillicTrench Collar & Trace
50m PDP ResistivityContour Line
• Distinct Ag:Au ratio ≈ 1000:1• High-grade silver +100 to 639 g/t Ag float & subcrop over 750 m of strike length• Pervasive alteration eruptive tuff ring & phreato-magmatic vent breccias • Intense steam heated alteration overprint (crystobalite-alunite-kaolinite native sulphur & cinnabar)
1 trench in zone to date
26.7 m @ 0.016 g/t Au & 54.76 g/t Ag,Inc. 11.2 m @ 0.013 g/t Au & 92.43 g/t Ag.
Mineralization may extend under cover to east
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Laminated ash with bands of intense advanced
argillic alteration silver mineralization TR06
Cinnabar wisps in the zone of the phreatic
breccia with intense advanced argillic in
TR-06
Sulphur vein (dipping SW) in the middle of a
phreatic vent breccia with intense advanced
argillic alteration in TR-06
Upward flaring phreatic-hydrothermal breccia
with mineralized clasts
Poly lithic hydrothermal breccia
clasts of quartz vein fragment with bands of
acanthite, suggest ISE or LSE *find grade*
Ignimbrites with pervasive quartz opaline silica
and sulfide/sulfosals veinlets TR06
Mirasol Atlas Project: Atlas Silver Zone (ASZ): Trench 6
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Mirasol – Forward Focus & Objectives Focus on our core business model – Project Generator JV company
• Chile: focus of our spend / project generation / project exploration • Argentina: represents a counter cyclic investment opportunity
Build our generative pipeline – our R&D investment & life blood of this company
• Chile: Concept driven generation & early stage project acquisition • Argentina: Strategic consolidation in key districts / low holding cost
JV deals on headline properties in Chile & Argentina - realize value to our shareholders via discovery – Gorbea Belt & Argentine headline projects
Slow the burn rate: targeting total corporate + exploration spend FY2015 of USD $6.1 to 5.5M
Evaluate accretive business opportunities
Improve information flow to our shareholders & the market so they can make informed investment choices
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• Well Funded
• Strong Rubi JV
• Five Headline Projects
• Management Focused on Shareholder Value
• Focused on Chile – new eyes / old eyes
Chile Explore CongressSpeaker: Stephen Nano President & CEO TSX.V: MRZ
