TSXV:TNR www.tnrgoldcorp.com
LEADERSHIP
Directors
KirillKlip,MBA,ExecutiveChairman
JohnWisbey,DeputyChairman
MauriceBrooksB.Sc.,FCA(ICAEW)
GregJohnsonB.Sc.
RossThompson
…ourcorporatedirectioncomesfroma
blendofprovencreatorsofenter
prise
valueandtechnicalexpertise…
Management
KirillKlip,MBA–PresidentandCEO
MauriceBrooks–SpecialAdviserStrategicRisk ManagementandInterimCFO
AnthonyKovacs–ChiefOperatingOfficer
NancyLaCouvée–CorporateSecretary
RobertoLara–ManagingDirector(SouthAmerica)
Dr.FrederickBreaks,P.Geo–TechnicalAdviser
NataliaLobanova–CEOEA,PR,Marketing
TSXV:TNR www.tnrgoldcorp.com
CORPORATECULTURE
agrowingenergymetalsroyaltycompanywithstrongmanagementownership“
ExperiencedManagementTeam ProjectPortfolioManagement Strategicenergymetalsfocus:lithiumandcopper
Goldandpreciousmetalassets
ProvenBusinessModel Identifyandacquireprojectsatanearlystage
Selectivelyadvanceprojects
UseJVpartnershipstomitigatecostsandrisk
Maximizevalue,minimizesuccesstime
2/3ownershipbyinsidersandmanagement
TSXV:TNR www.tnrgoldcorp.com
GLOBALASSETSCURRENTHOLDINGS
LosAzules,Argentina
• WorldClassCu-Audeposit
• 0.36%NSRRoyalty
• 100%ownedbyMcEwenMining
ShotgunGold,Alaska
• Porphyrygolddeposit
• Multi-millionozpotential
• Welldefinedmineralizationmodel
InternationalLithiumCorp.(“ILC”)
• TNRspinoutin2011
• TNRholds10.5%equityinterestinILC
• TNRholds1.8%NSRRoyaltyinILC’sMarianaLithiumProject
• Strategicpartnersadvancingfourlithiumprojects
LondonVancouver
SanJuan
Shotgun
LosAzules
Office
Project
ILCLithiumProjectsMariana
Mavis/FairserviceRaleighForgan
Avalonia
ASSETS►Argentina
TSXV:TNR www.tnrgoldcorp.com
Fina
ncialTim
es
“People are more confident in the future, the economy, in making investments. They are tired of corruption and populism,” Cecilia de Francesca.REUTERS
ASSETS►LosAzules
Argentina is one of the largest economies in Latin America.
Argentina is currently undergoing an economic transformation and integration into the global economy.
Presidential elections at the end of 2015 led to a significant change in Argentine economic policy.
The results of the mid-term elections in October 2017 prove that the new administration is gaining more support for its economic policies in Argentina.
TSXV:TNR www.tnrgoldcorp.com
US $3.3 B Allocated by the World Bank for the execution of the Country Partnership Strategy with Argentina
McEwenMining
WorldBank
100%ownedbyMcEwenMiningInc.TNRholdsa0.36%NSRroyalty
LosAzulesranksasoneofthetop2or3worldclassdepositsthatare“forsale”andinalowriskjurisdiction
TNRholdsa0.36%NSRroyalty
“
Note:Mineralresourcesdonothavedemonstratedeconomicviability.
EstimateofMineralResourcesbyType(0.20%Cucut-off)(1)
(1)Technicalreporttitled“NI43-101TechnicalReport–PreliminaryEconomicAssessmentUpdatefortheLosAzulesProject,Argentina,”withaneffectivedateofSeptember1,2017,preparedbyD.Brown,CPEng,M.Bunyard,C.Eng,FAusIMM,B.Davis,FAusIMM,J.Duff,P.Geol,R.Duinker,P.Eng,MBA,J.Farrell,P.Eng,W.Rose,P.E.,K.Seddon,CPEng,R.Sim,P.Geo,allofwhomarequalifiedpersonsandallofwhombutD.BrownandJ.DuffareconsideredindependentofMcEwenMining,asdefinedbyNI43-101.TNRGoldCorp.hasnotengagedanindependentqualifiedpersontoverifythetechnicaldisclosuresprovidedbyMcEewnMiningInc.Mineralresourcesarenotmineralreservesandthereisnoguaranteethattheresourcesreportedhereinwillresultinaneconomicminingscenario.
McEwenMining
TSXV:TNR www.tnrgoldcorp.com
►LosAzulesResource
Totalcontainedcopperis4.6Mt(Indicated)and8.8Mt(Inferred)2
Totalcontainedgoldis1.7Moz(Indicated)and3.8Moz(Inferred)
Totalcontainedsilveris56Moz(Indicated)and136Moz(Inferred)
TSXV:TNR www.tnrgoldcorp.com
►LosAzulesResource
McEwenMining
LongitudinalSectionThroughtheLosAzulesDeposit(lookingwest–southwest)
Thecopperresourcecontains10.2billionpoundsIndicatedand19.3billionpoundsInferred2“
(2)Pleaserefertotechnicaldisclosurestatement(1)regardingtheresourceestimate.
TSXV:TNR www.tnrgoldcorp.com
►LosAzulesPreliminaryEconomicAssessment2017PEAHighlights(1,3)BaseCase($3.00/lbcopper,$1,300/ozgold,$17/ozsilver)
• $2.2billionAfter-TaxNPV(8%discountrate)and20.1%After-TaxIRR
• 3.6yearpaybackanda36yearsLifeofMine(LOM);
• 415millionlbaverageannualcopperproductionforthefirst10years.
• $1.11/lbaveragecashcopperproductioncosts(C1*)forthefirst10years,$1.28/lbaverageC1costsoverLOM.
McEwenMining
(3)ThePEAreportedanddocumentedbyMcEwenMiningispreliminaryinnature,itincludesinferredmineralresourcesthatareconsideredtoogeologicallyspeculativetohavetheeconomicconsiderationsappliedtothemthatwouldenablethemtobecategorizedasmineralreserves,andthereisnocertaintythatthepreliminaryeconomicassessmentwillberealized.Mineralresources,includingthosecategorizedas“measuredandindicated”aswellas“inferred”arenotmineralreservesandtheeconomicviabilityofthesemineralresourceshavenotbeendemonstratedbythiseconomicanalysis.McEwenMining'spressreleasesandwebsitematerialappeartobepreparedbyQualifiedPersonsandtheprocedures,methodologyandkeyassumptionsdisclosedbyMcEwenMiningarethoseadoptedandconsistentlyappliedintheminingindustry,butnoQualifiedPersonengagedbyTNRhasdonesufficientworktoanalyze,interpret,classifyorverifyMcEwenMining'sinformation,nortodeterminethecurrentmineralreserveorresourceoranyotherinformationreferredtointheirpressreleases.Accordingly,thereaderiscautionedinplacinganyrelianceonthesedisclosures.
TSXV:TNR www.tnrgoldcorp.com 12
►LosAzulesPEA:CommodityPriceAssumptions
$3.00/lbcopper
$1,300/ozgold
$17/ozsilver
Undiscountednetsmelterreturn,overthelifeoftheminingproject
$35.2billion
UndiscountedCashFlowWaterfallDiagramfortheLifeofProject(4)
McEwenMining
(4)Pleaserefertotechnicaldisclosurestatements(1and3)regardingthePEA.
TSXV:TNR www.tnrgoldcorp.com 13
►LosAzulesPotentialValueofTNR’sNSRRoyalty
(4)Pleaserefertotechnicaldisclosurestatements(1and3)regardingthePEA.
DiscountedCashFlowWaterfallDiagramfortheLifeofProject(4)
McEwenMining
TNRholdsa0.36%NSRroyaltyontheentireLosAzulesproject
PEAestimatesundiscountedcashflowforthelifeofmineNetSmelterReturnover$35B(4)
PEAestimatesdiscountedcashflow(8%)forthelifeofminewiththeNetSmelterReturnover$10.5B(4)
►LosAzulesSummary
Argentinaisopenforbusiness
LosAzulesdepositismassive
100%ownedbyMcEwenMining
TNRhas0.36%NSRroyalty
PEAshowsfavorableresults
Projectismovingforward
IncreasedValueforTNR!
TSXV:TNR www.tnrgoldcorp.com 14
TSXV:TNR
CONTACT
JointVenturePartnerships
Financing
-Wewelcomeyourinquiries-InvestorRelationshub
https://tnrgoldcorp.com/investors/
[email protected] 1111MelvilleStreet,Suite1100
Vancouver,BC,V6E3V6
Phone:+1604-700-8912Fax:+1604-484-7143www.tnrgoldcorp.com
TSXV:TNR www.tnrgoldcorp.com 16
►TechnicalDisclosureStatementsCertainInformationinthispresentationisbasedonstudiesconductedbyMcEwenMiningInc.andtheirconsultantsand“QualifiedPersons”asdefinedbyNationalInstrument43-101.StatementsinthepresentationreferringtoResourceEstimatesandaPreliminaryEconomicAssessmentaretakenfromtheinformationpubliclyprovidedbyMcEwenMiningInc.Thetechnicalreport,whichincludestheresultsofthepreliminaryeconomicanalysis(“PEA”),isavailableontheMcEwenMiningwebsiteandundertheprofileofMcEwenMiningonSEDARatwww.sedar.com.Thefollowingnotesarereferencedinthispresentation.
(1)Technicalreporttitled“NI43-101TechnicalReport–PreliminaryEconomicAssessmentUpdatefortheLosAzulesProject,Argentina,”withaneffectivedateofSeptember1,2017,preparedbyD.Brown,CPEng,M.Bunyard,C.Eng,FAusIMM,B.Davis,FAusIMM,J.Duff,P.Geol,R.Duinker,P.Eng,MBA,J.Farrell,P.Eng,W.Rose,P.E.,K.Seddon,CPEng,R.Sim,P.Geo,allofwhomarequalifiedpersonsandallofwhombutD.BrownandJ.DuffareconsideredindependentofMcEwenMining,asdefinedbyNI43-101.TNRGoldCorp.hasnotengagedanindependentqualifiedpersontoverifythetechnicaldisclosuresprovidedbyMcEewnMiningInc.Mineralresourcesarenotmineralreservesandthereisnoguaranteethattheresourcesreportedhereinwillresultinaneconomicminingscenario.
(3)ThePEAreportedanddocumentedbyMcEwenMiningispreliminaryinnature,itincludesinferredmineralresourcesthatareconsideredtoogeologicallyspeculativetohavetheeconomicconsiderationsappliedtothemthatwouldenablethemtobecategorizedasmineralreserves,andthereisnocertaintythatthepreliminaryeconomicassessmentwillberealized.Mineralresources,includingthosecategorizedas“measuredandindicated”aswellas“inferred”arenotmineralreservesandtheeconomicviabilityofthesemineralresourceshavenotbeendemonstratedbythiseconomicanalysis.
McEwenMining'spressreleasesandwebsitematerialappeartobepreparedbyQualifiedPersonsandtheprocedures,methodologyandkeyassumptionsdisclosedbyMcEwenMiningarethoseadoptedandconsistentlyappliedintheminingindustry,butnoQualifiedPersonengagedbyTNRhasdonesufficientworktoanalyze,interpret,classifyorverifyMcEwenMining'sinformation,nortodeterminethecurrentmineralreserveorresourceoranyotherinformationreferredtointheirpressreleases.Accordingly,thereaderiscautionedinplacinganyrelianceonthesedisclosures.
JonathanFindlay,P.Geo,GeologicalConsultantoftheCompany,anda“QualifiedPerson”forthepurposesofNationalInstrument43-101-StandardsofDisclosureforMineralProjectsoftheCanadianSecuritiesAdministrators,hasreviewedandapprovedthescientificandtechnicalinformationcontainedinthisPresentation.