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Cuale Gold Project July 2018
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Page 1: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

Cuale Gold ProjectJuly 2018

Page 2: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Forward Looking Information

This presentation includes certain statements that may be deemed "forward looking statements". All statements in this presentation,other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company“) expectsto occur, are forward looking statements. Forward looking statements are statements that are not historical 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.

Although the Company believes the expectations expressed in such forward looking statements are based on reasonableassumptions, such statements are not guarantees of future performance and actual results may differ materially from those in theforward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statementsinclude market prices, exploitation and exploration successes, and continued availability of capital and financing, and generaleconomic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performanceand actual results or developments may differ materially from those projected in the forward looking statements. Forward lookingstatements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made.Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the eventthat management's beliefs, estimates or opinions, or other factors, should change.

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Page 3: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Key Value Drivers

100%-ownedProjects

• Cuale HSE project• Jalisco, Mexico

Royalties

• Ermitaño deposit: 2% NSR

• Cumobabi project: 1.5% NSR

JV/Alliances

• Seven exploration partnerships

• $7-$8 million partner funding

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Page 4: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Current Operations

4Sierra Madre Occidental

Golden Triangle

South Central BC

Laramide Porphyry Belt

• Golden Triangle BC – Porphyry copper/gold‒ Antofagasta

• South Central BC – Porphyry copper/gold‒ Antofagasta

• Laramide Porphyry Belt – Epithermal gold and porphyry copper/gold‒ Coeur Mining and First Majestic Silver

• Sierra Madre Occidental – Epithermal gold‒ Cuale Project, Harvest Gold

• Gold alliances in the Americas‒ Newmont Mining

Page 5: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – Jalisco, Mexico

• High sulphidation epithermal gold target (HSE)

• Low cost, large scale, long mine life• Examples of HSE mines in Mexico

• El Sauzal (1.9M ounces gold)• La India (3.0M ounces gold)• Mulatos (5.0M ounces gold)

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100% owned by Evrim

*Subject to a 1.5% precious metal and 1.0% base metal royalty payable to Altius Minerals

Page 6: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale - Location

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Notable development projects• Agnico Eagle Mines' Barqueño project

(663,000 ounces of gold and 2.2 million ounces of silver)

• Endeavour Silver's Terronera project (311,000 ounces of gold and 37 million ounces of silver)

Two hour drive from Puerto Vallarta• 230 square kilometre claim size• Excellent infrastructure with roads and

power crossing the property• No previous exploration

Page 7: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – La Gloria Prospect (looking west)

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La Gloria prospect

Page 8: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – Reconnaissance Sampling 2017

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Gold in Rocks (g/t) N

2km

1.50 2.030.884.561.140.12

0.610.19

0.58

OPEN

OPEN

Gold in Soil (g/t) N

2km

4.062.30

Page 9: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – Lithology Map

• Mapping defines a 4 km x 3.5 km rhyolitic volcanic centre

• Volcanic centre contains lapilli crystal tuff, lithic tuff, rhyolite flows, rhyolite and dacite intrusions, hydrothermal breccia, andesite and block and ash tuff

• Units form a dome field that was actively depositing tuff units and flows before, during and after the formation of a high sulphidation gold system

• Erosion and post mineralization faulting exposed the buried high sulphidation system

La Gloria trenches

IP Line 226350

IP Line 226400

N

9

North Dome

Page 10: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM 10

• Cover: Not an alteration zone but labelled as the post mineral cover contains abundant silica/AA clasts

• Silica: A late milky quartz with specular hematite overprints the saccharoidal quartz alteration and is commonly associated with drusy quartz veins

• Silica: Saccharoidal silica with specular hematite varying from massive to rarely vuggy. This style of alteration easily breaks to a fine sandy powder. Vuggy zones are less common but occur within this alteration.

• Advanced Argillic (AA): Pyrophyllite with minor dickite alteration on immediate margins of silica alteration

• Argillic: Bleached rocks due to kaolinite and illitealteration

• Propylitic: Typically below 1050 meters above sea level is distal chlorite and smectite alteration

Cuale – Alteration Map

Page 11: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM 11

Cuale – Trenching 2018

106.2m @ 13.61 g/t Gold

50.0m @ 26.13 g/t Gold

29.4m @ 2.94 g/t Gold

25.0m @ 4.12 g/t Gold

Page 12: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – Trench Photos

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Sampling Trench 1 Very fine gold panned from powdery saccharoidal quartz in Trench 4

Saccharoidal quartz and hematite from sample in Trench 4 grading 29.9 g/t gold

Page 13: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – IP Geophysics

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Phyllite

La Gloria zone Vuggy Quartz (100 x 300m)Trench 1 and 4 samples plotted

Feeder target

Clay/Pyrite alt?

Tuff

Western resistivity anomaly

Massive Quartz Rib

Ohm metres

500m

• West and north-west of La Gloria zone is masked by units that cover the system; rhyolite flows, WifiTuff, He-Si breccia(?)

• La Gloria is a small erosional window into the mineralized part of system

• North north-east trending normal faults down-drop geology to the east of La Gloria zone

La Gloria zone – Trench 1 and 4 samples plotted

Massive Quartz RibPhoto taken looking to north. Skyline closely traces IP line

The photo is clipped to approximately match the eastings of the IP section below

IP line 226350 - Resistivity

Page 14: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cuale – Next Steps• Engagement with local community (Ejido) for

access and permitting• Mapping, trenching, a soil survey and geophysics

through July

• A 3,000 metre drill program is planned to start later in the summer

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SUMMARY• Very early stage of exploration• Consistent, high grade mineralization at surface

with IP giving confidence in depth potential• Classic high sulphidation textures, geochemistry

and alteration• La Gloria Zone a small part of a larger alteration

zone that requires further exploration

Page 15: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

AppendixRoyalties, Joint Ventures & Alliances

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Page 16: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Ermitaño Royalty

Partnership with First Majestic Silver (TSX.FR)• Earning a 100% interest subject a production

notice with supporting permits by January 2019 and a 2% NSR to Evrim

Maiden inferred resource announced March 2018• 40.8 million ounces silver equivalent or 562,000

ounces gold equivalent• Open at depth and to the westExcellent location• Four kilometres from mill at Santa Elena

16*Resource reported by FR on March 29, 2018 using $1,450/oz Au; $20/oz Ag

Up to 12,000 metres of drilling in 2018

Page 17: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Axe & Ball Creek JVs

Partnerships with Antofagasta plcAXE – Porphyry copper-gold target

70% interest for US$50M on exploration, $800,000 cash, and a compliant PEA over 10 years

BALL CREEK – Porphyry copper-gold targetUp to a 70% interest for US$31 million on exploration or a compliant PFS over 13 years

• Excellent access and infrastructure• Over $3.2 million budgeted in 2018

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Up to 5,000 metres of drilling in 2018

Page 18: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Sarape JV

Partnership with Coeur Mining (NYSE:CDE)• Earning up to an 80% interest for

US$16.5M in exploration, US$2.55M cash, and a compliant feasibility study over ten years

• Undrilled 5,776 hectare low-intermediate sulphidation epithermal gold-silver target

• Located 40 kilometres north of Ermitaño West discovery with Mercedes Mine (Premier Gold) and Santa Elena (First Majestic) in the area

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Drilling expected early 2019

Page 19: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Cerro Cascaron JV

Partnership with Harvest Gold• HVG earning up to 80% interest with

$6M in exploration, $1.1M cash, 2M shares to Evrim, and a compliant FS over nine years

• A 69 square kilometre low to intermediate sulphidation epithermal gold target

• Cascaron vein field (18 square kilometres)

• The silver-rich Cascarita prospect contains very high silver and lead values

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Up to 3,000 metres of drilling in 2018

Page 20: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Gold Alliance

Two-year $1.8 million exploration alliance signed in 2017 with Newmont Mining • Newmont may option any

project for cash payments and fund exploration and 43-101 pre-feasibility on minimum 2M+ oz gold for an 80% interest, over 10 years

• Evrim may at any time after two-year period exchange equity interest for 2% NSR with 0.5% buy-down for up to US$10 million.

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Generative gold exploration in the

Americas

Page 21: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Board of Directors (non-executive)

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Paul van Eeden, B.Sc., Chairman & Director (Independent)• Independent businessman with over 25 years' experience• President of Cranberry Capital Inc., which, through its subsidiaries is involved in equity

financing, lending, M&A and consulting to mineral exploration companies

David Caulfield, P. Geo, Director (Independent)• Geologist, businessman and consultant to the mineral exploration industry for over 30 years• Co-founder of Rimfire Minerals and past President of Equity Exploration Consultants Ltd.

Served as the 2005 President of the Association for Mineral Exploration of British Columbia (AME BC).

John Thompson, Ph.D., Director (Independent)• Over 30 years’ experience in geoscience including working with BP Minerals Group (RioTinto), a

directorship with Mineral Deposit Research Unit (MDRU) at the University of British Columbia, and Chief Geoscientist with Teck.

• Principal of PetraScience Consultants, an exploration, development and technology consulting firm. He is also the Wold Professor of Environmental Balance for Human Sustainability at Cornell University.

Page 22: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Management

22

Paddy Nicol, MBA President & CEO

Mahesh Liyanage, CPA, CA Chief Financial Officer

Stewart Harris, B.Sc., P. Geo VP Technical Services

Alain Charest, B.Sc. VP Exploration Mexico

Charles Funk, B. Sc. Hons VP New Opportunities and Exploration

• Over 20 years of public company management

• Served on the boards of several exploration companies

• Over 20 years of experience

• The past 8 years as CFO of several exploration companies

• Over 25 years of mineral exploration experience

• Extensive experience in the Americas

• Over 30 years’ experience• Former CEO of Arcelia Gold Corp.

(private prospect generator in MX)• Record of discoveries

• Over 10 years of experience of exploration and project evaluation

• Wide range of experience in porphyry, epithermal and IOCG deposits.

Page 23: Cuale Gold Project · Two hour drive from Puerto Vallarta ... • Excellent infrastructure with roads and power crossing the property • No previous exploration. TSX.V:EVM. Cuale

TSX.V:EVM

Financial Data

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Capital Structure (01/06/2018)Shares O/S 79,392,249 Options 5,861,667 Warrants 6,390,705 Shares F/D 91,644,621

CashWorking Capital(01/06/2018)

$5.5 million

Monthly burn rate $200,000Insider Information

Altius Minerals 14.4%Adrian Day Asset Mgt. 16%Sprott Global 12%Management 10.5%


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