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Copper Porphyry Focused Prospect Generator Exceptional People - Outstanding Geology - Financial Growth
Two flagship properties. 1 optioned to capable, proven partners
Adjacent to significant discoveries and infrastructure
100% owned, highly prospective British Columbia copper-gold properties. -15,927 Ha – multiple targets
© 2015 Firesteel Resources Inc. 2
Culture by Design Program
Forward Looking Statements
This presentation contains statements that may constitute "forward-looking statements“ within the meaning of applicable securities legislation. These statements include, among others, statements regarding business strategy, beliefs, plans, goals, objectives, assumptions or statements about future events or performance.
By their nature, forward looking statements are subject to numerous risks and uncertainties, some of which are beyond the Corporation's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources.
Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect and, as such, undue reliance should not be placed on forward looking statements. Actual results, performance or achievement could differ materially from those expressed in, or implied by any forward looking statements in this presentation, and accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Corporation will derive therefrom.
The Corporation disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
© 2015 Firesteel Resources Inc. 3
Culture by Design Program
Exploration risk born by partners
• Increases odds for exploration success, limits dilution and preserves cash
• Minimizes operating capital requirements
• Acquire properties from distressed companies at low cost
• Focussed on quality properties in safe jurisdictions
Copper Porphyry Focussed Prospect Generator
3rd Party search for distressed juniors • Properties financed without frequently going to the market - limiting dilution
Business Model
Using other people’s money to advance our assets
• Retain 25%
• Free carry to BFS
• Leverage partners’ capital, expertise and technologies
• Forging partnerships with a stable of potential partners
Properties optioned to strong qualified partners
© 2015 Firesteel Resources Inc. 4
Culture by Design Program
Why Copper Porphyries?
• Porphyries are most commonly found in orogenic belts along subduc6on zones where oceanic or con6nental plates collide. e.g.
– West coast of North and South America – Island plates like Philippines and Papua New
Guinea • Sought aAer by explora6on companies as an
excellent source of copper. Extra money can be made form co and by-‐products
• Most important source of Cu and Mo, also major sources of Ag, Au, and Sn. Some even contain pla6num group metals and tungsten.
– 50 -‐60 % of thee world’s Cu comes from them – As does 95% of world’s Mo
• Although grades are generally low, deposits are oAen very large containing 100s of millions of tonnes of ore
– Cu grades typically range from 0.2% to more than 1%
-‐ Poten;ally the World’s Richest Deposits
© 2015 Firesteel Resources Inc. 5
Culture by Design Program
Capital Structure
November 20th , 2014
Common Shares O/S - 61,555,553
Options O/S @ $0.10 - 3,175,000
Warrants @ $0.10 (expiry 30th Nov 2014) - 3,088,940
Fully Diluted - 67,819,493
Market Capitalization @ $0.03/share - $1.86 M
52 week share price high/low - $0.03 – $0.12
© 2015 Firesteel Resources Inc. 6
Culture by Design Program
Current Mineral Properties
• 3 copper- gold Projects in the Stikine Arch area – NW BC
• Extensive work over the years shows good grades
• Many successful neighbors
© 2015 Firesteel Resources Inc. 7
Culture by Design Program
ROK-Coyote Property
• 100% Owned • 6,900 ha, highly prospective large
tonnage targets with known Cu-Au results
• Historical drilling - 38.37 m @ 1.32% Cu, 1.54 g/t Au
• Adjacent to Red Chris Mine development with P&P Reserves of 302 Mt at 0.365 Cu and 0.27 g/t Au (a 28 year mine life at 30,000 tpd) Imperial Metals
• Currently looking for option partners
Sheslay Property
• Formerly Copper Creek (100% Owned) • 6,700 ha property host five significant Cu-
Au targets within close proximity with large tonnage, high grade potential
• Star system is robust with Stikine arch earmarks and grades
• 5 targets - Largest of the targets is 1,800 m by 750 m
• Pyrrhotite target is similar and untested • Prosper Gold - Option to acquire 80%
and JV
Poker Property
• 100% Owned
• 2,327 ha with high-grade quartz-sulphide boulders up to 252.16 g/t Au
• Conducted exploration project on gold-bearing boulder train
• Currently looking for option partners
Firesteel’s Land Package
Nearly 16000 ha of quality properties with proximity to successful neighbors
© 2015 Firesteel Resources Inc. 8
Culture by Design Program
Acquire further 10%, 48 months after
approval
• $500,000 cash and 500,000 shares
• $2,000,000 exploration expenditures
Prosper Gold (TSX-V: PGX.H) to acquire 51%, 18 months after approval
• $300,000 cash and 300,000 shares
• $1,000,000 exploration expenditure
Option and JV Agreement Sheslay Property
Closed Sept 3rd 2013
Acquire further 19%, 36 months after
approval
• $200,000 cash 200,000 Prosper shares
• $2,000,000 exploration expenditures
© 2015 Firesteel Resources Inc. 9
Culture by Design Program
Sheslay Project History
Supergene Gossans – 19 Mineral Claims
Discovered in 1937; Neighboring Garibaldi Resources Grizzly Property
Brikon Exploration : 1955; 4 DDH – 149 m
Skyline Exploration • 1958-1973; Copper Creek work • 6 DDH 1,050 m: 43.6 m @
0.49% Cu United Cambridge Mines • 1976 -1980; Dick Creek Zone • Trench 01: 0.42% Cu over 179 m
1978-2003 continued exploration
Firesteel Resources • 2003 to Present • Geology, geochem, geophysics • DDH-CC-2004-5; 242.3 m @
0.44% Cu and 0.32 g/t Au (from surface)
© 2015 Firesteel Resources Inc. 10
Culture by Design Program
Sheslay Project
Five confirmed drill ready copper-gold porphyries with supergene enrichment zones
North Star Target
Cu-in-soil anomalies discovered in 2004
Star Target (Formerly Dick Creek)
Copper Creek Target
East Star Target
© 2015 Firesteel Resources Inc. 12
Culture by Design Program
Star Porphyry Copper Gold Project
Current and historical drilling indicates a bulk tonnage copper gold porphyry deposit
Star Project Highlights
Drill Hole Intersection Cu (%) Au (g/t) Ag (g/t)
SO24 - 312.16 m 0.37 0.24 0.69
SO25 - 269 m 0.42 0.198 0.61
SO26 - 263 m 0.35 0.15 0.63
SO27: - 260 m 0.39 0.12 0.93
SO28: - 60 m 0.63 0.3 0.91
SO29: - 59 m 0.53 0.31 0.94
Final Hole Shows mineralization from surface to 598 m
Sample Drill Results 5 confirmed porphyry cu-au targets (Star, Star North, Star East, Copper Creek, & Pyrrhotite Creek) •Multi-year area based (MYAB) notice of work permit (200 drill locations – Good until march 31, 2019 • Star project optioned to Prosper Gold Corp -September 2013 • 13,431 meters (49 holes) have been drilled at Star including 2004 -7 drilling by Firesteel • 30.4 line-km I.P. Survey refining Star, Star North, & Star East targets • 3586 soil samples adding and expanding surface targets • 1462 line-km airborne multi-parameter survey • Mineralization remains open laterally and to depth in all directions
© 2015 Firesteel Resources Inc. 14
Culture by Design Program
ROK-Coyote Property
On trend between Colorado and Imperial Metals
• M&I - 8.89 b lbs Cu, 12.9 moz Au, 44.61 moz Ag (0.1% Cu cut-off)
• Inferred – 7.44 b lbs Cu, 11.35 moz Au, 47.04 moz Ag • Deep Targets below 2004 Pit Design
• 07-335: 1,024 m @ 1.01% Cu, 1.26 g/t Au and 3.92 g/t Ag • 10-393: 1,125 m @ 0.54 % Cu, 0.61 g/t Au and 1.96 g/t Ag
Red-Chris Cu-Au Deposit
• 1 hole 242 m @ 0.63%Cu and 0.85 g/t Au
Colorado Resources
• Magnetic/IP Anomaly with multiple Cu showings in host
volcanics associated with intrusion-related alteration
• 38.37 m @ 1.32% Cu, 1.54 g/t Au
ROK-Coyote – Main Zone
© 2015 Firesteel Resources Inc. 15
Culture by Design Program
ROK-Coyote Targets
VRMI Magne6c Image 2013
449,
000
mE
448,
000
mE
448,
000
mE
451,
000
mE
449,
000
mE
450,
000
mE
450,
000
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451,
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6,406,000 mN
6,404,000 mN
6,405,000 mN
447,
000
mE
447,
000
mE
6,407,000 mN 6,407,000 mN
6,408,000 mN 6,408,000 mN
446,
000
mE
444,
000
mE
445,
000
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445,
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446,
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6,404,000 mN
6,405,000 mN
6,406,000 mN
1
OZ Minerals
kilometres
2
Author: KG
0 0.5
Date: 22/11/2013
Scale: 1:50000
OZ MineralsR ok C oy ote Magnetic Survey
Total Magnet ic Intens ity and Vector R es idual Magnet ic Intensity Image with
H is togram Stretch and North EastSun shading
Projection: UTM Zone 9 (NAD 83)
F igure 5
© 2015 Firesteel Resources Inc. 16
Culture by Design Program
• 50 km W of Telegraph Creek
• 3 Claims, 2,327 hectares
• 36 quartz-sulphide boulders which averaged 24.24 g/t
Au (boulders up to 2 m in size); Best sample - 252.16 g/t
Au
• Target is high-grade shear zone (analogous to the Snip
Mine)
• 2006 work identified a 900 m by 350 m wide Au soil
anomaly; Core of the anomaly was +1,000 ppb Au
• Limited field work in 2011 failed to identify source of high
grade boulders – source still unknown
Poker Property
Early stage high grade gold prospect
1
2
3
4
5
6
© 2015 Firesteel Resources Inc. 17
Culture by Design Program
Firesteel’s Prospect Generator Strategy
1 Enlist intermediaries (lawyers, accountants, and deal makers) to identify copper porphyries within distressed companies.
2 Sign NDA/Non Circumvention agreement
3 Geological team to review prospects
4 Acquire subject to option with strategic partner
© 2015 Firesteel Resources Inc. 18
Culture by Design Program
Peer Comparison
COMPANY MARKET
CAPITALIZATION (On millions of dollars)
KEY AREAS OF FOCUS
ALMADEN MINERALS (AMM-T) $121.8 Gold, silver, copper prospects in Eastern Mexico. Currently drilling out its 100 per cent-owned Ixtaca discovery.
ALTIUS MINERALS (ALS-T) $326.5 Iron ore and base metals in Labrador. Royalties from Kami iron ore project could generate more than $50-million a year if it is developed as a mine, according to Altius estimates.
EURASIAN MINERALS (EMX-X) $137.4 Gold and copper in Turkey, Haiti, Western U.S., Sweden and Australia. Partners include Newmont, Vale, Inmet, Freeport McMoRan, Antofagasta.
RESERVOIR MINERALS (RMC-X) $124.2 Gold and copper in Serbia and West Africa. Partner with Freeport McMoRan on the Timok copper-gold discovery in Serbia.
VIRGINIA MINES (VGQ-T) $318.5 Gold and base metals in the James Bay region of Quebec. Partners include Goldcorp, Anglo American, lamgold, Xtrata.
Source of market capitalization figures: Bloomberg. Figures are as of April 4. These prospect generators were the ones with the highest market capitalizations that were common to lists of recommended prospect generators supplied separately by Brent Cook and Adrian Day. Mr. Cook holds each personally and Adrian Day Asset Management holds each in client accounts. Article author David Aston owns shares in Almaden Minerals, Altius Minerals, Eurasian Minerals and Virginia Mines. THE GLOBE AND MAIL D SOURCES: BLOOMBERG AND AUTHOR
© 2015 Firesteel Resources Inc. 19
Culture by Design Program
Michael Hepworth President and CEO
Experienced Management Team
• Over 30 years international entrepreneurial experience
• Director – Condor Precious Metals
• VP Corporate Development of G4G Resources and Northern Iron Corp
Professional Geologist who has been involved in mineral exploration and development in North and South America and throughout Africa, Asia and Europe for more than 25 years.
Extensive experience having served as President & CEO for several small cap exploration and development companies
Mr. Smith is a partner with Clearline Chartered Accountants. His experience includes operating and exploration mining companies throughout North and South America, and extensive audit experience in mining companies reporting for the Toronto Stock Exchange
Paul Sarjeant P Geo., Q.P. and Director
Grant Smith Chief Financial Officer
© 2015 Firesteel Resources Inc. 20
Culture by Design Program
Board of Directors
Michael Hepworth International business leader, entrepreneur and senior corporate development executive
Paul Sarjeant, P. Geo. • Prof Geologist; VP Exploration - Global Cobalt
Corp. • Past CEO - Lion’s Gate Metal and Grandview
Gold Inc; Senior Geo - Echo Bay Mines
Ernest Cleave, CA (ANZ), CPA, CMA(UK) • Financial executive with extensive capital
markets experience; Goldcorp, Falconbridge, Grandview Gold, Cline Mining.
• Currently CFO of Largo Resources.
Eugene Chen, LLB Lawyer specializing in securities, corporate finance and M&A; Corp director
David Forest, P Geo. • Founder and COO - Sunward Resources,
COO - Condoto Platinum and VP Exploration – Asia Pacific Mining
• Formerly – Investment analyst with Casey Research
Peter Pollard, PhD, BSc Hons Geology • Chairman- Kalimantan Gold, director Hunter
Bay Minerals and G4G Resources • International consulting economic geologist
with extensive porphyry and skarn Cu-Au experience
© 2015 Firesteel Resources Inc. 21
Culture by Design Program
Sheslay Project
• 700 x 500 m IP chargeability anomaly, open to the north and eastern edge displays very strong Cu-in-soil anomaly
• Grab samples up to 12% Cu with many grading 2-3% Cu
North Star Target
• 500 m x 500 m, open ended strong Cu-in-soil anomaly (>300 ppb) and Au up to 490 ppb
• Soil anomaly located on magnetic and IP chargeability anomaly
• Open for extension in all directions
East Star Target
• Altered and mineralised corridor 1,800 x 750 m is extent
• Several extensive Cu-in-soil anomalies occur on flanks of broad open-ended IP chargeability anomaly (1,500 x 750 m)
• Historical hand trench results: 130m @0.40% Cu
• Rock chip from 5 hand trenches over 130 m returned grades up to 0.40% Cu (no Au analysis carried out)
• 1972 Single drill hole -146.3 m @0.32% Cu. No gold analysis.
Pyrrhotite Creek Target
© 2015 Firesteel Resources Inc. 22
Culture by Design Program
Why Invest in Firesteel?
• Highly prospective BC properties with solid history and successful neighbors.
• Searching for others in stable jurisdictions
• Specialization - porphyry systems • Top international geological talent • Strong partners
Mineral Assets
People
Partners
• Proven business model • Current option agreement with
Prosper Gold will result in $5.0m in exploration, $1.0m in cash and 1m PGX shares
Track Record
• Low risk jurisdictions • Business model reduces financial risk while
increasing exploration upside
Risk Mitigation
• JV partners bear exploration and financing risk
• Access to strong, capable and proven JV partners
• Partners actively looking for targets
Michael Hepworth – President and CEO Suite 1001, United Kingdom Building
409 Granville St, BC.
Vancouver BC, V6C 1T2
T: (647)725 3793 F: (604) 669 5728 E: [email protected] Website : www.firesteelresources.com
Contact Us:
TSX.V : FTR
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