Rockex Mining Corporation
September 2012
TSX:RXM
Rockex Mining Corporation
COMPANY OVERVIEW
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• 590 Mt indicated and 415 Mt inferred resources grading 29% iron (December/2010); additional historical tonnage and exploration upside.
• 300km northwest of Thunder Bay/ Lake Superior; excellent proximity to infrastructure and end users in Great Lakes Basin
• Pre-Feasibility to be started in 2012; Production as early as 2017
• Favourable valuation of $10 million ($0.20 - August 21) = 3 cents per tonne/iron
• Favourable industry fundamentals
• TSX listing in March 2011 (RXM:T)
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• 23 contiguous claims covering 5,392 ha.
• Located in northwestern Ontario,
between Sioux Lookout and Pickle
Lake - 40 kms from Highway 599 to
Pickle Lake
• 50 km from 115Kv power line
• 80 km north of CNR transcontinental
railway
• 170 km from Trans- Canada main
gas line
• 300 km to Lake Superior with 10
months of shipping via Great Lakes
• Unrestricted access to the Thunder
Bay iron ore dock/port
Within Close Proximity to Excellent Infrastructure
PROPERTY LOCATION
Rockex Mining Corporation
PROPERTY HISTORY (Lake St Joseph)
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• 1920 - 1930 Surface exploration followed-up by diamond drilling.
• 1956 - 1959 Property acquired by Lake St. Joseph Iron Ltd.; magnetic surveys, diamond drilling and extensive trenching.
• Early 1960s Ontario Research Foundation and M.A. Hanna Mining estimate an open pit ‘reserve’ of 240 M tons to 400 ft depth grading 35% iron.
• 1968 - 1969 Algoma Steel (Algoma) options & explores the property.
• 1974 - 1975 Algoma performs diamond drilling and microscopic work on WLSJ illustrating mainly hematite and magnetite in a 1:1 ratio.
• 1975 Algoma conducts pilot plant tests on 375 ton bulk sample and produces commercial grade concentrate grading 65-67% Fe with 85% Fe recoveries to concentrate. ‘Reserves’ at Eagle and Fish islands estimated at >1 billion tons grading 30% soluble Fe. (not NI 4301 compliant – see page 17)
• Late 1970’s Stelco, Dofasco, and Steep Rock Iron Mines agree to put property into production in the late 1980s.
• 2001 Algoma lets claims lapse
• May 2008 Rockex acquires the Lake St. Joseph iron ore property.
• 2009 Rockex conducts drill program and acquires all Algoma Steel property data
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• Western Lake St. Joseph – explored by Algoma in the
60’s and 70’s
• Doran Lake – Between WLSJ and SBE
projects
• Soule’s Bay East Area – feasibility study by
Bechtel (1971) on Soule’s Bay project
– Recently staked by Rockex
Western Lake St. Joseph (5,392 ha)
Doran Lake (832 ha)
10 20 km 0
LAKE ST. JOSEPH PROPERTIES
Soule’s Bay East (1408 ha)
100% of 3 Advanced-Stage Iron Ore Projects
Rockex Mining Corporation
Large In Situ Mineral Resource
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Total Iron (M tons)
Sol Fe (%)
Tons (M)
534 29.4 1,818 Total
70 28.0 250 Soule`s Bay East 2
323 29.1
652 Western Lake St-Joseph 1 Indicated and Inferred
LAKE ST. JOSEPH PROPERTY
1. 43-101 Resource calculated by Watts Griffis on Eagle Island (excludes Fish Island)
2. For consistency, all Potential mineralization (non-NI 43-101 compliant – see p.17) based on archives of historic work
3. Numbers in Imperial units due to use of Imperial system for reporting of historical results
56 28.0 200 Doran Lake 2
Fish Island 2
258 33.0 85
458
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• Well developed mineral resource and engineering studies
• 19,104 m of historic drilling and trenches
• Eagle Island: 590 Mt Indicated plus 415 Mt Inferred Resources @ 29.1% Sol Fe
• Magnetite to hematite ratio: 1:1
• Fish Island: 258 Mt @ 33% Sol Fe*
• Metallurgical testing (historic*): pellets grade product @ 66% Fe
Western Lake St. Joseph Property
Historic Results (1956 to 1978)
LAKE ST. JOSEPH PROPERTIES
* Not NI-43-101 compliant – see p.17)
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• A large zone of folded
iron formation
• Eagle Island deposit:
– > 2.0 km long
– Up to 400 m
wide
– Up to 300 m
deep
– Remains open at
depth – 2011
drilling extends
depth to more
than 550 m
Eagle Island – Western Lake St. Joseph
LAKE ST. JOSEPH PROPERTIES
Potential for Large Open Pit Mine
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• 16 drill holes > 8,000 meters
• Substantial iron mineralization outside of 43-101 resource zone
Drilling Fall/2011 Eagle Island
LAKE ST. JOSEPH PROPERTIES
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• Historic Resource :
– Up to 200 m wide
– 1.2 km strike
– 3:1 magnetite /hematite ratio
– Historic resource of 258 t @33% Fe (non-43-101compliant –
see p.17)
• Drill results 2011
– 470m @29.2% Fe including 132 m @37% Fe
– Mineralization reaches to 390 m
Fish Island – Western Lake St. Joseph
LAKE ST. JOSEPH PROPERTIES
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Airborne Mag Survey/2011
Fish Island
Eagle Island
Results clearly show magnetic structure on both islands is connected
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PROPOSED DEVELOPMENT PROGRAM
Advance the Projects Towards Near-term Production
Q1 Q2 Q3 Q4
2010
Q1 Q2 Q3 Q4
2011
Q1 Q2 Q3 Q4
2012
Q1 Q2 Q3 Q4
2013
Q1 Q2 Q3 Q4
2014
Q1 Q2 Q3 Q4
2015
Restructuring Rockex
Drilling and metallurgical testing
NI 43-101 Resource and PEA
Feasibility study
Environmental study and permitting
Financing / Partnership / Sale
Project construction
Commissioning and production
• Initial focus on Western Lake St. Joseph due to its size and grade
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PROPOSED TIMELINES
Target Program Status
Dec/2010 NI 43-101 resource report
Dec/2010 RTO with Enviropave
Dec/2010 Raise $3mm flow- through
Jan/2011 Raise $1mm hard
Mar/2011 TSX listing
Oct/2011 Drill program starts (8,000 M)
3rd Q/2012 Metallurgical testing
4th Q/2012 Preliminary Economic Assessment
4th Q/2012 Raise $ for Pre-Feasibility
4th Q/2012 Begin Pre-Feasibility
Rockex Mining Corporation
• Share capitalization:
– Shares currently issued basic 50.0 M
– Warrants 3.5 M
– Options 4.9 M
– Fully Diluted 58.4 M
• Shareholders
– 67% management and directors
– 25% retail
– 8% institutional
• Recent Issuances
– December 2010 - $3.0 M private placement financing @ $0.90
– January 2011 - $1.7 M private placement @ $0.90
– December 2011 - $650 K private placement financing @ $0.45-$0.50
– July 2012 – $770k private placement financing @ $0.25
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SHARE STRUCTURE
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VALUATION
Company Symbol Shares Price Mkt Cap Resource Grade
Contained
Iron
Mkt
Cap/ton
(MM) (Aug 21) ($MM) (MM/tonne) Fe (MM/T) ($/tonne)
Consolidated Thompson* CLM 230 $ 17.10 $ 3,933 910 29% 264 $ 14.90
Labrador Iron Mines LIM 67 $ 2.17 $ 147 165 58% 96 $ 1.53
Baffinland Iron Mines* BIM 343 $ 1.49 $ 511 865 65% 562 $ 0.92
New Millenium NML 178 $ 1.40 $ 250 9,108 30% 2,732 $ 0.09
Alderon ADV 100 $ 2.43 $ 243 1,090 31% 338 $ 0.72
Champion Minerals CHM 119 $ 0.90 $ 107 1,500 25% 381 $ 0.28
Adriana Resources ADI 158 $ 0.57 $ 90 6,260 29% 1,815 $ 0.05
Oceanic Iron Ore FEO 175 $ 0.18 $ 32 2,682 33% 877 $ 0.04
Advanced Exploration AXI 160 $ 0.24 $ 38 549 27% 148 $ 0.25
Canadian Orebodies CO 130 $ 0.15 $ 19 519 35% 182 $ 0.11
Rockex Mining Limited RXM 50 $ 0.20 $ 10 1,006 29% 293 $ 0.03
with historical 1,706 29% 486 $ 0.02
Rockex Mining Corporation
Proven, Successful Executives and Board of Directors
Pierre Gagne – Chairman & Director
• 25 years experience in construction and mining industries
– Founder - construction company specializing in design/execution of custom civil and mining projects
Edward (Ted) Yew – President & CEO
• Former metals and mining equity research analyst at Credit Suisse, among other independent investment banking firms
− Former international engineering consultant focusing on front-end engineering, process, & overall EPCM
Donald Alexander Sheldon – Director
• Toronto based mining lawyer with 25 years experience in corporate finance and securities law
– Director and/or officer of several publicly listed corporations
Gilles Filion - Director & technical advisor
• P. Eng with 25 years international experience, including VP Exploration for Goldcorp Inc.
– Involved in development of Red Lake High Grade Zone
Jon Tondeur- Director
• London based business man with expertise in insurance, finance and corporate development
Bruce Reid – Director
• BSc in Geology with 30 years experience in mining exploration
- President & CEO of Carlisle Gold and director of several publicly listed companies
Armand Plastino – Director
• Retired President and CEO of Essar Steel Algoma Inc.
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PEOPLE
Rockex Mining Corporation
• The following presentation may include certain “forward-looking statements” within the meaning of applicable Canadian Securities Laws and the United States Private Litigation Reform Act of 1995. All statements, other than statements of historical fact, included in the presentation, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company are forward-looking statements. Words such as “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “intend”, “believe” and other similar expressions are forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather reflect the Company’s current views with respect to future events and are subject to risks uncertainties conditions but rather reflect the Company’s current with respect to risks, uncertainties, assumptions and other factors. Actual results and future events could differ materially from those anticipated in such forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate.
• The historical resource estimate for total tonnage, soluble iron and total iron for the Fish Island, Doran Lake and Soule’s Bay East properties is based on data and reports prepared by previous operators and information provided by government ministries. The historic estimates pre-date NI 43-101. A qualified person (within the meaning of NI 43-101) has not yet completed sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The Company is not treating the estimate as a current mineral resource and the historical estimate should not be relied upon. The property will require additional exploration which the Company and its consultants intend to carry out in due course.
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