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10/5/2015
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IAEA October 2015
Madaouela Uranium ProjectNiger’s Newest Mine?Jerome Randabel, Daniel Major, Ibrahim Aouami, Henri Sanguinetti, Mahaman Garba, Fatima Korgom.
Disclaimers & Cautionary Statements
This presentation is and proprietary to GoviEx Uranium Inc., and may not be reproduced, disseminated or referred to, in whole or in part withoutthe prior consent of the company. The company assumes no responsibility for verification of the information in these materials, and norepresentation or warranty is made as to the accuracy or completeness of such information. The company assumes no obligation to correct orupdate these materials. These materials do not contain all information that may be required to evaluate, and do not constitute arecommendation with respect to, any transaction or matter. Any recipient of these materials should conduct its own independent analysis of thematters referred to herein.
This presentation includes certain “forward-looking statements”. All statements other than statements of historical facts, are forward lookingstatements that involve various risks and uncertainties. Statements relating to “resources” are deemed to be forward-looking statements, asthey involve the implied assessment, based on certain estimates and assumptions, that the resources described can be profitably produced inthe future. There can be no assurances that such statements will prove accurate and actual results and future events could differ materially fromthose anticipated in such statements. Such information contained herein represents management’s best judgment as of the date hereof basedon information currently available. The company can not guarantee future results, levels of activity, performance, or achievements. Thecompany does not assume the obligation to update any forward-looking statement.
Disclosure of a scientific or technical nature in this presentation relating to the companies mineral properties was prepared by, or under thesupervision of, Dr. Rob Bowell of SRK Consulting UK, a “qualified person” as defined in NI 43-101. Historical data disclosed herein has not beenverified by Dr. Bowell.
Complete disclosure with respect to (a) the key assumptions, parameters, and methods used to estimate the mineral resources and mineralreserves described herein and (b) known risks that could materially affect the potential development of those mineral resources or mineralreserves is set forth in the Company’s technical report titled “AN UPDATED INTEGRATED DEVELOPMENT PLAN FOR THE MADAOUELA PROJECT,NIGER”, dated August 20 2015, available at www.sedar.com.
United States investors are cautioned that the requirements and terminology of NI 43-101 and the CIM Standards on Mineral Resources andReserves – Definitions and Guideline (“CIM Standards”) differ significantly from the requirements and terminology of the United States Securitiesand Exchange Commission (“SEC”) set forth in the SEC’s Industry Guide 7 (“SEC Industry Guide 7”). Accordingly, the Company’s disclosuresregarding mineralization may not be comparable to similar information disclosed by companies subject to SEC Industry Guide 7. Without limitingthe foregoing, while the terms “mineral resources”, “inferred mineral resources”, “indicated mineral resources” and “measured mineralresources” are recognized and required by NI 43-101 and the CIM Standards, they are not recognized by the SEC and are not permitted to beused in documents filed with the SEC by companies subject to SEC Industry Guide 7. In addition, the NI 43-101 and CIM Standards definition ofa “reserve” differs from the definition in SEC Industry Guide 7. This presentation and the disclosure contained herein does not constitute an offerto sell or the solicitationof an offer to buy securities of GoviEx Uranium.
OUTLINE
• LOCATION
• HIGHLIGHTS
• HISTORY
•GEOLOGY
•ACHIEVEMENTS/MILESTONES
•DESCRIPTIONS OF DEPOSITS (MM, MIRIAM)
•CONCLUSION
The Republic of Niger – Uranium Country• World’s 4th largest uranium-producing nation (World Nuclear Association Report, 2012)
• 50 years of uninterrupted uranium exports on highway that crosses GoviEx tenements
• 2011 Presidential Election lauded by independent observers and the EU
• President Issoufou has a mining background and elected on platform of job creation
Cominak Mill & Somair Mine near Arlit, adjacent to GoviEx’s Madaouela Project
• Mining accounts for 50-70% of export revenues, national priority for job creation
• Mining Code encourages foreign direct investment and project development
• Well-established infrastructure
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GoviEx Licences in Niger’s Mining Heart GoviEx Milestones • 2007 – GoviEx commenced operations focused on building a Niger team
• 2008 – Signed Strategic Partnership with Cameco Corporation-Drilling Started
• 2009 – Expanded exploration program at Madaouela
• 2010 – Progress Southward and discovery of MSNE/Completed NI 43-101 preliminary economic assessment (PEA)
• 2011 – Discovery Miriam,MSEE, MSCE/ Surpassed 400,000 metres of drilling and updated resource estimate
• 2012 – Regional Exploration, Discovery La Banane/Financing and off-take agreement with Toshiba
• 2013 – Completed NI 43-101 integrated development plan (IDP)
• 2014 – IPO and Toshiba A Bond Redemption
• 2015 – Expanded Marianne and Marilyn Uranium Mineral Resource-ESIA and FS.
Madaouela Permits and Location
• Renewed Madaouela 1, 2, 3, 4 and Anou Melle permits in November 2012; extended for a further 36 months
• Applied for Agal and Eral licences in November 2012; awaiting approval
HISTORY1961-1965: CEA carried out extensive exploration and development
• Geological mapping, radiometric ground and airborne surveys, rock sampling and drillingof surface anomalies
• Discovery of Madaouela, in continuity with channel structure in the Guezouman
• Development up to 100m square grid drilling of three main areas located in relatively
low depth (40 to 100m): Martine, Marylin, Marianne
• Exploration south and sw at 1600M and 800M grid,leading to the discovery of new a
area of interest
• Total over 1000 dh, Marylin 252 dh (33 ddh), Marianne 102dh (22 ddh)
• Mining tests: 70m deep vertical shaft,
• High-Grade Uranium
mineralization
assayed for every 2
meter blast
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HISTORY1982-1999 PNC – ONAREM Techili project
Mineralization is found in the Guezouman
sandstone (Lower Tagora series), two kinds of
deposits ("carpet" and "christmas tree", from
Marianne-Marilyn to Miriam)
and argillites/silts and arkose of the
Madaouela (Upper Tagora).
The Guezouman sandstone and basal Teleflak
conglomeratic level is the first detrital material
accumulated over the long marine
sedimentation of the black argillite/clay of
Talak (the main reducing pole)
The Madaouela Fm represents the transition
between reducing sediments of the
Carboniferous and Permian continental red
sandstones.
The area is characterized by the non
deposition of the Tarat sandstone (mined by
open pit in Arlit) on the west side of the
Madaouela flexure
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Local Stratigraphy
Fresh, good quality Tchinezogue unit
Talak
Unite d’Akokan
Guezouman Sandstone
Tchinezogue (weathered)
Tchinezogue (unweathered)
Regional Geology
and structures
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Marianne-Marilyn
Miriam
• West dipping strata, with localised
drag folding near faults.
•Major continental NS fault- Arlit
fault.
•Subsidiary N40 normal to
transtensional horsts and graben
•N70 locally strike slip faulting,
controlling paleochannels and
mineralisation,
•N140 faults- less well identified but
ubiquitous at Miriam, and other
anomalies
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Regional Structures
Somair
Arlit fault
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•ROLL FRONT-similarities with
nearby Akouta. Thick (up to 25m,
average 15m) along N140
fractures, creating Christmas tree
like mineralised structures.
(Miriam)
•BASAL TYPE DEPOSIT- Thin
(average 1.2m) carpet like
distribution, associated with N70
structures and paleochannels.
Accumulation of U at foresets and
also within basal conglomerates
(Teleflak) (Marilyn and Marianne,
MSNE,MSCE and MSEE)
Two Types of Mineralisation
MINERALOGY HG & LG ORE 2015
Bulk mineralogy:
Dominated by quartz >65-
80%
Followed by:
K-Feldspar
Kaolinite
Dolomite (in LG samples)
Gypsum
Calcite (in HG samples)
Molybdenum minerals:
Wulfenite
Powellite
Molybdenite
Uranium mineralogy:
Pitchblende
Schoepite
Minor: Orthobrannerite (FG)
Coffinite and Omohite
The majority of uranium bearing
minerals exists as U4+
Pitchblende
Marilyn and Marianne (Basal Type)
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Ore depth from 20m
To 110m
� Uranium hosted in Guezouman
sandstone above the basal Talak contact.
� Concentrated at contact sandstone Guez
– Talak black shale
� UA monoclinal en-echelon structures,
N70E pre GUEZ faulting guiding channel
axes. Dextral strike slip strucures.
� Ore controlled by sedimentary
structures and N70E to N80E paleo
channel structures
� Ore intersections at depths of 20m in
North to 110m in the South
� Ore seam subhorizontal and tabular,
1.2m average width, open to UG mining
Note-
channels
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Thickest
correspond to UA
channelsDome
Near Barren Zone at
core of channelDome
Marilyn Section
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Paleochannel-
fault controlled-
filled with UA
Marianne Section
20
Dome
Paleochannel-
fault controlled-
filled with UA
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21
Dome
22
Dome
ORE CHARACTERISTICS derived from the core sampling
GUEZOUMAN TALAK
contact
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Typical Core Samples of Uranium
Bearing Zones
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Mineralised controls-Miriam Area
25
Miriam
26
27
Combining sequences and mineralization
( intervals at cut offs eU 200ppm, 400 ppm and 1000ppm)
the rich zones are related to the intersection
of discrete expansion faulting within favorable
sedimentology units, resulting in the
“Christmas tree” aspect of the high grade
zones
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THE MIRIAM CASE
Miriam
drilling situation
(31 Jan 2013)
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29 3030
313132
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33 34
Summary of the mineral resources classified in accordance with CIM guidelines for Madaouela Project using cut-off: 0.4 kg/t eU
Madaouela Mineral Resources, April 2015 Conceptual Integrated Mine Development Plan
TAILINGS STORAGE FACILITY
M&M PORTAL LOCATION
PROCESSING PLANT
HIGH VOLUME & MINE LINK ROAD CONVEYOR
EXPLOSIVES MAGAZINE
MSNE-MARYVONNE INFRASTRUCTURE AREA
MSNE-MARYVONNE
PORTAL LOCATION
WELLFIELD
LOCATION
MARIANNE-MARILYN
UNDERGROUND MINE
M&M INFRASTRUCTURE AREA
SITE ACCESS ROAD FROM N25 MSNE-
MARYVONNE
MINE
HIGH VOLUME & MINE LINK ROAD
MIRIAM OPEN PIT
MIRIAM WASTE DUMP 3
MIRIAM WASTE DUMP 2
MIRIAM WASTE DUMP 1
MIRIAM INFRASTRUCTURE AREA
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Probable Mineral Reserves
CIM mineral reserve statement (May 20, 2015) for the Madaouela deposit
• Probable mineral reserves are 60.6 Mlb U3O8 at 0.093% U3O8.
• Reported on 100% basis.
• Total Uranium Recovery forecast at 83%.
• Accounts for dilution, mining losses and stope design losses.
Project Milestones
� Completed IDP in 2013
� IPO completed in 2014
� ESIA completed March 2015
� Mining Permit Application June 2015
• Mining Permit Grant in 2015/16
• Pre-mine development in 2016/17
• Attain full production in 2018/2019
Thank You
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