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Eastmain Resources Inc.
AGM Presentation
April 2014
EASTMAIN
Adding Value Through Discovery
5252oo 3737’’ 0606”” NN7272oo 0505’’ 1919”” WW 7575oo 5757’’ 2020”” WW5252oo 1818’’ 0101”” NN7575oo 4848’’ 5252”” WW 5252oo 1313’’ 0101”” NN
EASTMAIN
2
Forward Looking Statements
Certain information set forth in this Presentation may contain forward‐looking statements that involve substantial known and unknown risks and uncertainties. These forward‐looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals and the availability of financing. 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 imprecise and, as such, undue reliance should not be placed on forward‐looking statements. Some of my commentary may contain forward‐looking information, therefore, you are cautioned that the Corporation’s actual results could differ materially from my conclusions, forecasts or projections. I refer you to the section entitled “Risk Factors” in our Annual Information Form available on www.SEDAR.com which sets out certain material factors that could cause actual results to differ.
EASTMAIN
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Eastmain Investment Highlights
Eastmain Mine – Royalty free(1) with New Infrastructure
Clearwater Project (Eau Claire) – Royalty free!
Exceptional 2013 Drilling & Trenching Results
Superior Infrastructure – Power & Road Access
Favourable Jurisdiction with Financial Incentives
High‐Grade Open Pit resource at 4.7 g/t Au (75% M&I)
(1) Franco Nevada Corporation and Virginia Mine Inc. purchased the Initial Production Royalty (2% NSR) from CBay Minerals Inc. on 250,000 ounces of gold. Eastmain purchased the remaining Production Royalty.
EASTMAIN
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• Two High‐Grade Gold deposits:
− Eau Claire (1.8M ounces)
− Eastmain Mine (former producer)
• 9 Early Stage Exploration Projects
• Eleonore South – Joint with Goldcorp
• Favourable Mining Jurisdiction
• Mine‐ready infrastructure (roads, power)
• Quebec’s Plan Nord – new permanent road
access for Eastmain Mine
• Financial incentives (Quebec rebates)
• Goldcorp largest shareholder (8.8%)
Overview of Eastmain Resources
5.71 MOptions (average price $0.95)
6.77 MWarrants (average price $0.45)
C$6.4 MTreasury (2)
C$35 MMarket Capitalization
132.4 MShares Outstanding (Fully Diluted)
120.2 MShares Outstanding (Basic)
C$0.19 – 0.60Share Price Range (1)
TSX:ERTrading Symbol
EASTMAIN
Summary Market Statistics
Focused on Gold Exploration in Mine‐Friendly James Bay, Québec
Company Overview
(1) As at close on April 9, 2014(2) As of March 31, 2014, $1M Quebec rebate receivable (not included).
EASTMAIN
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Eau Claire Gold Resource (Polygonal Model)
Resource Summary
(1) Resource estimate includes drilling up to the end of 2011 and was completed by P&E Mining Consultants.(2) Underground grade based on a 2.5 g/t cut‐off grade; Open pit grade using a 0.5 g/t cut‐off grade.
Measured & Indicated Open Pit Grade at 4.67 g/t Au
449,0005.122,728Measured
1,148,0005.486,513Total Inferred
780,0004.914,938Total Measured & Indicated
935,0007.204,035Inferred
145,0006.37706Measured & Indicated
Eau Claire – Underground (2)
213,0002.682,478Inferred
635,0004.674,228Measured & Indicated
Eau Claire ‐ Open Pit (1)
(oz, uncapped)(g/t)(000’s)
In Situ GoldAu GradeTonnes
70,000 metres of drilling to be added to a Block Model Resource
GERALDTON
RAINY RIVER
DETOUR
NORANDA
RED LAKE
HEMLO
VAL D' OR
KIRKLAND LAKE
TIMMINS
0 10 20 30 40 50 60 70 80
10
9
8
7
6
5
4
3
2
1
JAMES BAY, QUEBEC
GOLD DEPOSITS
> 3 - 5 M OZ
> 10 M OZ
> 0.3 - 3 M OZ< 0.3 M OZ
> 5 - 10 M OZ
500 km
Gold Production – Top 10 in the World & Canada
James Bay, Québec – An emerging Mining Camp
CANADA
JAMES BAY, QUE
Past Production + Current Gold Resources (millions oz)
CANADIAN SHIELD
Hemlo
Detour
Val d’Or
RR
KL
GL
CWEMEL
Note: Canada ranks 7th in the World in annual gold production. Over 200 million ounces of gold produced from the Canadian Shield. Most “Mining Camps” are defined by one or more deposits >10 million ounces. James Bay, Quebec ranks in the Top 10 gold camps in the Canadian Shield. CW – Clearwater; EL – Eleonore; EM – Eastmain Mine; GL –Geraldton; KL – Kirkland Lake; RR – Rainy River
EASTMAIN
Gold Mining Camps in the Canadian Shield Top 10 Countries (Gold Production)
Top 10 Canadian Gold Camps
Gold Mining Camps in the Canadian Shield
Annual Production (Tonnes)
INDONESIA
MEXICO
GHANA
CANADA
SOUTH AFRICA
PERU
UNITED STATES
RUSSIA
AUSTRALIA
CHINA
0 100 200 300 400 500
10
8
9
7
6
5
4
3
2
1
(Up 30% over 2012)
EASTMAIN
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JAMES BAY REGION
Clearwater Project(Eau Claire Deposit)
Eastmain Mine
Eléonore Project(Roberto Deposit)
(Goldcorp)
50 kms
James Bay, Québec – Project Location Map
Excellent infrastructure – Roads, power, airports, fuel …James Bay – New Mining District
QUEBEC
Map AreaDY
RK
LE
LG LH
ESLL
RH
RD
HydroInstallation
ClearwaterEastmain MineDY – DynaES – Eléonore SouthLE – Lac ElmerLG – LidgeLL – Lac LessardLH – Lac HudsonRD – RadissonRK – Road KingRS – ReservoirRH – Ruby HillEM1 – Hydro Quebec
RS
Eastmain
JamesBay
Nemaska
Radisson/LG2
Route 167 Nord Newly Constructed
StornawayRenard Deposit
Temiscamie
Excellent infrastructure – Roads, power, airports, fuel …
RH
Note: Clearwater is accessible via a commercial airport at Nemaska, located 80 kms south of the project. Route 167 Nord has been constructed from Temiscamie north to the Renard Project, providing permanent road access to the Eastmain Mine project.
EastmainProject
EASTMAIN
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Eastmain Reservoir
Clearwater Project – Superior Infrastructure
Eau Claire Gold Deposit – Accessible via EM‐1 road network
Eastmain Reservoir
Eastmain River
EM‐1 Turbines
Spillway
Eau Claire Gold Deposit
BaseCamp
EM‐1 Road
kms
0 5
Hydro Quebec’s – Eastmain 1 Hydroelectric Installation – Aerial View
N
Eau Claire River
Note: Hydro Quebec’s Eastmain‐1 powerhouse was commissioned in 2006. The Eastmain Reservoir covers approximately 600 km2 and flows into the Opinaca Reservoir. The Eau Claire Gold deposit is accessible by the permanent EM‐1 Road. Fuel and accommodation is available at the EM‐1 Base Camp. An equipment and fuel depot is accessible by transport via the Spillway. Hydroelectric power for Goldcorp’s Eleonore project is provided by EM‐1.
Clearwater Property
The Clearwater Project is located next to Hydro Quebec’s EM‐1power generating facility with permanent road access in place.
Eleonore Transmission
Line
Depot
EASTMAIN
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• High‐Grade Open Pit & Underground Gold Deposit
• Volcanic‐hosted Quartz‐Tourmaline vein system
• Metallurgy – Gold with Byproducts of Te, Bi and Ag
Excellent Metallurgical Properties
• 2013 Drilling: (77 holes – 31,466 m)
132 intercepts @ 10.8 g/t Au / 4.34 m71 intercepts @ 15.5 g/t Au / 5.48 m
• 2013 Trenching: (>2000 samples)
Up to 39.5 g/t Au / 8.5 m
• Next Milestones: Re‐Model Eau Claire Deposit, Block Model Resource Estimate & Future PEA
• Objectives – Outline sufficient gold resources at Eau Claire
for a Long‐Life, Low‐Cost, Highly Profitable Gold Operation
Clearwater Project ‐ Eau Claire Gold Deposit
Eau Claire is Higher Grade than 75% of all Gold Deposits WorldwideOverview
PEOPLE – PROJECTS – PARTNERS
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• Growing tonnage is the foremost priority at
Eau Claire, fulfilled by exceptional results;
• Biggest project economic driver is the
expanding size of the Open Pit resource;
Every 500K tonne increase extends the OP
mine life by another year; 2013 Results
have made a material impact on Eau Claire;
• Exploration success JUMPED with the
application of a NEW GEOLOGICAL MODEL;
• New 450 West Zone Interpretation shows
WIDER Zones with increased CONTINUITY
2013 Clearwater Exploration Results & Impact
Objective – Define Sufficient Mineable Resources for Stand Alone Operation.
Impact2013 Exploration Results
• EXCEPTIONAL drill results; wider & higher
grade than any previous program;
• 132 drill intercepts @10.8 g/t Au / 4.34 m;
• 71 drill intercepts @15.5 g/t Au / 5.48 m;
• Trench intercepts up to 39.2 g/t Au / 8.5 m;
• >90% of the gold‐intercepts from drilling are
within 300 metres of surface;
• >90% of the CONTAINED METAL at Eau Claire
occurs within the GOLD GRADE SHELL;
• Modeling of the 450 West Zone has defined
TWO orientations for Gold Mineralization;
EASTMAIN
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HIGH PRIORITY
CORR
IDOR
Clearwater – Structural Controls of Gold Mineralization
Gold Mineralization is Associated with a Regional Structural Break (D2 structures)
5 km
Major Gold Deposits throughout the World are found near Deep‐Seated Structures
440000
mE
445000
mE
450000
mE
455000
mE
465000
mE
460000
mE
5790000 mN
5785000 mN
5780000 mN
LEGEND
D3 D1 D2
Priority Target
Gold occurrences
BG
SP
SL
NLKN
SD
REGIONAL BREAK
Felsic Volcanics
Iron Formation Dyke
Mafic Volcanics Schist
Felsic Intrusive
EC
2013 data
Note: Structural interpretation by SRK based on 2013 Airborne Magnetic Survey Data. Gold mineralization is related to a regional (D2) structural break.Abbreviations: BG – Beluga; EC – Eau Claire Gold Deposit; KN – Knight; NL –Natel; SD – Serendipity; SL – Snake Lake; SP – Spider
SL
Pre ‐ 2013
EASTMAIN
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Eau Claire Gold Deposit 2013 Drill Program
Felsic Volcaniclastic rock
Mafic Volcanic rock Felsic Porphyry/Tonalite
Surface Projection of Gold Mineralization, Potential Open Pit Areas & 2013 Drilling
450 West Zone
850 West Zone
250 mGold Mineralization
CW15
BM
Note –Gold Mineralization surface projection represents the 0.5 g/t Au grade shell created in Leapfrog based on drilling up to 2011. Drill hole azimuth N 355E dipping 45 to 60 degrees north.
Potential Open Pit Area
N
2013 Drill Hole2013 Drill Hole w ith Visible Gold
5,785,750 mN
5,785,000 mN
5,785,250 mN
444,
000
mE
5,785,000 mN
5,785,250 mN
5,785,500 mN
5,785,750 mN
445,
250
mE
445,
500
mE
445,
750
mE
444,
250
mE
476
493
533
525
494
512
Gold Grade Shell
490
2013 Drilling Highlights501 – 10.94 g/t Au / 12.0 m
incl. 19.85 g/t Au / 5.0 m512 – 4.88 g/t Au / 31.0 m
incl. 8.50 g/t Au / 16.0 m524 – 131.4 g/t Au / 2.00 m
incl. 257.0 g/t Au / 0.5 m532 – 25.76 g/t Au / 4.0 m
incl. 39.93 g/t Au / 2.0 m533 – 44.35 g/t Au / 4.0 m
incl. 82.15 g/t Au / 2.0 m
501
520 521 524522
532534
EASTMAIN
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Eau Claire Gold Deposit – 3D Model Looking Down
3D Plan View – 0.5 g/t GOLD Grade Shell of Eau Claire Surface plan of Eau Claire Gold Deposit – 1.8 km long by 150 m wide traced to 900 m depth
• 3D modeling of Eau Claire illustrates a large crescent‐shaped body with a “hinge” forming between the 450 & 850 West Zones• The gold‐bearing vein system changes direction from the 450 West Zone (E‐W, dipping S & NW Domains dipping SW) to the 850 West Zone (NE‐SW, subvertical dip).• 490 – 4.78 g/t Au / 21.0 m; 501 – 10.94 g/t Au / 12.0 m; 512 – 4.89 g/t Au / 31.0 m; 520 – 9.69 g/t Au / 10.0 m; 521 – 59.4 g/t Au / 2.0 m; 522 – 8.25 g/t Au / 9.0 m; 524 – 131.5 g/t Au / 2.0 m; 532 – 25.8 g/t Au / 4.0 m; 533 – 44.4 g/t Au / 4.0 m, incl. 88.9 g/t Au / 2.0 m
850 West Zone 450 West Zone
OPENOPEN
375
OPEN
358
426
456
533
490
522521
411 412
406
524
388
532
501
512
520
High‐grade gold zone (10 to >100 g/t Au)
2012/2013 gold intercept
EASTMAIN
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Eau Claire Gold Deposit – BEFORE
3D Leapfrog view of gold‐bearing drill intersections Pre‐2012 DrillingLongitudinal view of Eau Claire Gold Deposit – Looking North
2012/2013 gold intercept
Pre 2012 gold intercept
450 West Zone850 West Zone
0 m RL
1.2 kms
EASTMAIN
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Eau Claire Gold Deposit – AFTER
3D Leapfrog view of gold‐bearing drill intersections including 2012 & 2013Longitudinal view of Eau Claire Gold Deposit – Looking North
2012/2013 gold intercept
Pre 2012 gold intercept
850 West Zone
0 m RL
1.2 kms
450 West Zone
EASTMAIN
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Eau Claire Gold Deposit – Longsection Looking North
3D Leapfrog view of gold‐bearing drill intersections >0.5 g/t AuLongitudinal view of Eau Claire Gold Deposit – 450 & 850 Zones
• 2012 & 2013 Drilling has expanded and defined lateral & vertical continuity of the Eau Claire gold deposit within 300 metres of surface• ER12‐412 – 17.7 g/t Au/6.5 m; ER12‐456 – 10.98 g/t Au /11.0 m; ER13‐490 – 4.78 g/t Au / 21.0 m; ER13‐501 – 10.94 g/t Au / 12.0 m; ER13‐512 – 4.88 g/t Au / 31.0 m; ER13‐520 ‐9.69 g/t Au / 10.0 m;
ER13‐521 ‐ 59.4 g/t Au / 2.0 m; ER13‐522 ‐ 8.25 g/t Au / 9.0 m; ER13‐524 – 131.5 g/t Au / 2.0 m; ER13‐532 – 25.8 g/t Au / 4.0 m; ER13‐533 – 44.4 g/t Au / 4.0 m
2012/2013 gold intercept
Pre 2012 gold intercept
450 West Zone850 West Zone
0 m RL
OPEN
OPEN
1.2 kms
524
ER12‐412
456
512
533
521490
501
520
522532534
EASTMAIN
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Clearwater Project – Summary
Eau Claire – Potential to be a Low Capex, High Return OPEN PIT & UG Gold Deposit
One of the Highest Grade Undeveloped Gold Deposits in North America
• Exceptional 2013 Trenching & Drilling results add to
the Critical Mass of the Resource;
• >90% of the 2013 Drilling Intercepts are within 300
metres of Surface (Positive for OP Resources);
• Detailed Airborne Surveys have defined a Crustal
Scale – Regional Structural “Break” highly
favourable for additional discoveries;
• Exploration Success Driven by a Revised Geological
Model with Wider Zones & Better Continuity;
• Business Plan – complete Eau Claire Deposit
Interpretation followed by a Block Model Resource
& Future PEA
* Note: The composite average gold content measured in grams x metres (gm) for the R, JQ & P Veins at surface is 109 gram metres Au.
EASTMAIN
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Legend
Expl/Mining ProjectOtish ParkSection A: 0-82 kmSection B: 82-143 kmSection C: 143-195 kmSection D: 195-245 km
Route 167 North Extension connected to Eastmain Mine
Quebec’s Plan Nord Infrastructure program adds permanent road access• Quebec government’s Plan Nord program
provides new infrastructure to James Bay region; MTQ built Sections A & B of Route 167 North Extension
• Stornoway has constructed Sections C & D (financial assistance by Quebec)
• Eastmain Mine now linked to Route 167 Nord
Photos courtesy of Stornoway Diamond Corporation; MTQ –Quebec Ministry of Transport
Km 0
Km 195
Km 245
Km 143
Km 82
Sections C & DStornoway97 km of Mine Road(50 km/hr)
Western Troy
Renard
Eastmain
Strateco
25 km
Temiscamie
Sections A & BMTQ143 km of RegionalHighway (70 km/hr)
Route 167
D
A
B
C
EASTMAIN
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• Eastmain Mine and Ruby Hill East – 100% Ownership (125 km2)
• New Route 167 North provides permanent road access
• Four High Grade Gold targets defined by 2013 Exploration
• Eastmain Mine:Historical M&I resource 255,750 ounces gold 1M tonnes at 9.95 g/t Au (1)
• Mine Trend >10 km long repeated on Ruby Hill Property
• Substantial Resource Growth & Discovery Potential
• Second M&A Candidate
Eastmain Mine – Project Overview
High Grade + Growth Potential + Large Land Package + Infrastructure
(1) The Eastmain Mine Historical Resources are not NI43‐101 compliant. A Qualified Person has not done sufficient work to classify them as current mineral resources. The issuer is not treating these historical resources as current mineral resources and these resources should not be relied upon.
Project Geology Project Overview
Eastmain Mine Property
Ruby Hill East
A & B GoldZones
2.5 kms
Winter RoadRoute 167 North
Mine Trend
C ZoneMineCamp
>1 to 5 g/t Au
Rock Assay Data
>30 g/t Au >10 to 30 g/t Au >5 to 10 g/t Au
Priority Target
Airstrip
N
2
34
1
EASTMAIN
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• Existing mine site infrastructure includes:
‐ Ramp & U/G access to the A & B Zones ~100,000 tonnes mined in 1994‐95
‐ Airstrip, fuel farm, 100‐person mine camp, tailings pond, mining lease
• Permanent road access with Québec’s “Plan Nord” program
Eastmain Mine – Existing Infrastructure at Mine Site
$40 M Invested by Previous Owners on Exploration & Development
Mine Site InfrastructureEastmain Mine buildings and UG ramp (foreground)Aerial view of Mine buildings & tailings pond (foreground)
EASTMAIN
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Eastmain Mine – 3D Underground View (Looking South)
3D Longitudinal View – A & B Zones with UG Mine Development Workings
Gold resource grade shells
High‐Grade Gold deposit – Significant Resource Expansion Potential
1500 m E
1000 m E
2000 m E B Zone
F ZoneTarget
Surface
‐ 500 m EL
Underground Development
Ramp
500 m
A Zone
Best place to explore: below & lateralto a High Grade Gold Deposit
Previous “Mill Head” Grade – 9.95 g/t Au
EASTMAIN
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Eleonore Project – Goldcorp’s World Class Gold Mine
Minimum 15 Year Mine Life* Commencing Production Q4 2014 Goldcorp’s Eleonore Mine confirms James Bay, Quebec as ELEPHANT COUNTRY
Canadian Mining Journal Photo – E leonore Mine S ite
• Probable Reserves 4.03 M oz (1.93 M tonnes @ 6.49 g/t Au)
• Inferred Resources 4.10 M oz (13.3 M tonnes @ 9.63 g/t Au)
• 2014E Production – 40,000 to 60,000 oz
• Development Plan:
‐ 600 km Exploration Drilling
‐ Ramp/Shaft Access (1500 m depth)
‐ Upper/Lower Mine Concept (7K tpd)
‐ 600,000 oz Au / Annually by 2017
‐ Initial Capital ‐ $1.8b to 1.9b
• Acquired from Virginia for $500M + Royalty (March 2006)
* Note: New Discovery of the 494 Zone – Parallel Ore Shoot to the Main Gold Deposit possible to double size of the deposit.
EASTMAIN
23Note: ES – Eleonore South, RH – Ruby Hill, LE – Lac Elmer, LH – Lac Hudson, RK – Road King, DY – Dyna, LG – Lidge, RD – Radisson, LL – Lac Lessard
Exploration through Mining Cycle
Project Life Cycle from Area Selection to Discovery to RehabilitationEastmain owns two Advanced‐Stage, one Discovery‐Stage & nine Exploration‐Stage Projects
AREA SELECTION
LAND ACQUISITION
PROSPECTING, GEOCHEM & GEOPHYS SURVEYS(EXPLORATION STAGE)
DRILLING, TRENCHING(DISCOVERY STAGE)ES, RH, LE,
LH, RK, DY, LG, RD, LL
Reservoir
ClearwaterEastmain Mine
Development Cycle
Exploration Cycle
RESOURCE DEFINITION (ADVANCED EXPLORATION STAGE)
DEVELOPMENT (PEA TO FEASIBILITY STAGE)
PRODUCTION(MINING STAGE)
CLOSURE AND REHABILITATION
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Eau Claire Business Plan – Pathway to Production
Continued Optimization throughAdvanced Exploration
Eau Claire Deposit Interpretive Model
Block Model Resource Update
Preliminary Economic Assessment
Pre‐Feasibility
Initiation of Strategic Review
Joint Venture Asset Sale
Note – All Stages of the Business Plan are dependant on results of the preceding stage & based on several criteria including metal prices, market conditions and the availability of funding. Each progressive stage is reviewed on a continual basis.
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Development Strategies – Pathway to Production
Business Plan – Advance Eau Claire from Exploration to Development
Joint Venture with ProducerCarried Interest/Royalty
Sell CompanyCreate Spin Co.Retain NSR & Project Portfolio
Sell ProjectMaintain Capital StructureRetain NSR & Project Portfolio
Form Mining CompanyAdd Development Team
Production
Eau Claire
EASTMAIN
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Windfall Lake
Whitney
Wesdome
Wasamac
Valentine LakeVal-d’Or East
Tetlin
Taylor
REN
Rain
Leitch-Sand River
Lamaque
J & L
Horne 5
HardrockGoliath
Gold RiverGoddell
Farley Lake
ElkDuquesne
Courageous Lake
Clearwater
Cameron Lake
Butte Highlands
Buffalo AnkeriteBrookbank
Bradshaw
Back River
Ardeen
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0
Total Resource (Millions Ounces)
Gold Grade (g/t)
Comparison of Clearwater to Advanced Canadian & US Gold Deposits*
Clearwater Compares Very Favourably to its Peer Group of Development Stage Gold Deposits
Canadian & US Gold Deposits (Development Stage)
>2 g/t Au & >0.5 Million Ounce Total Gold Resource
32 Deposits @ Average Grade of 6.17 & 1.88 M Ounces
* Note – Total Gold Resources include all categories as a weighted average for each deposit as summarized in Appendix A.
EASTMAIN
27
$0
$10
$20
$30
$40
$50
$60
Conta
ngo
New
Pacif
ic Pa
nTer
raInt
egra
Gold
Sabin
a Ch
alice
Gold
Prem
ier Go
ld
Mar
athon
Gold
Avera
ge
Trea
sury
Metal
s
Gold
Mou
ntain
Eastm
ain
Eagle
Hill
Carlis
le Go
ldfiel
ds
Huak
an In
tern
ation
al
Adve
nture
Gold
Falco
Pacif
ic Le
xam
VG
Teme
xGo
west
Gold
Timbe
rline
Total EV/Ounce Gold
Peer Group Companies – Gold In‐Situ Comparables
Eastmain’s High‐Grade Assets – Attractive Value Relative to Peer Group
Average Enterprise Value per Resource Ounce of Gold
“M&A activity is expected to increase in 2014, with smaller strategic deals in fiscally stable, gold‐rich countries such as Canada” Gold Fields, VP Corp Development.
Note: Total EV/Oz Gold – based on Total gold resources of all categories.
EASTMAIN
28
$‐
$50
$100
$150
$200
$250
$300
Prodigy Rainy River Brett Trelawney Aurizon Queenston Osisko Virginia
TEV/
ounce
$‐
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
$4,500
Canadian Gold Company M&A Transactions
High Grade projects sold for 3 to 6 times the value of the Low Grade Assets
Note: TEV/ounce – includes total gold resources divided by Market Capitalization. Transaction Value when M&A was completed.
TEV/ounce Producer
TEV/ounce Developer
LEGEND
Transaction Value
With a rising gold price, gold companies began to chase more marginal ore at existing mines and develop low‐grade projects in more remote parts of the world where infrastructure is lacking, project costs are high and resource nationalism is more prevalent.
Transaction Value (Millions)
EASTMAIN
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Research and Letter Writer Coverage
Analyst research coverage provided by two Brokerage firms
Jay Taylor Buy718 457-1426Gold, Energy & Tech Stocks
$0.80Eric Lemieux819 472-8037
Laurentian Bank Securities
$1.00Michael Gray604 639-6372
Macquarie Equities Research
High Grade Safe Jurisdiction, InfrastructureResource Update & Future PEA
Investment Catalysts
Target PriceAnalystBrokerage
Speculative Buy Recommendations ranging from $ 0.80 to $ 1.00
EASTMAIN
30
2014 Exploration Program
Building for tomorrow – today!!
• 16,000 metres of drilling planned on Quebec Projects
• Principal focus on adding High Grade Resources amenable to OPEN PIT Extraction at Eau Claire
• Advance Eastmain Mine and Other Early Stage Projects In house, Joint Venture or Asset Sale
• 16,000 metres of drilling split between Eau Claire & Eastmain• Advance resource targets lateral to both deposits • Target generation & testing on other priority projects
Work Planned
• $4.28 M in Flow Through Funds will be allocated principally to Clearwater & Eastmain Mine; Other priority projects include Lac Hudson & Lac Lessard
2014 ExplorationBudget
• Complete Eau Claire modeling & resource estimation• Future PEA • Initiate Strategic Review
Objectives
Clearwater, Eastmain Mine & Other James Bay PropertiesProjects
(1) Budget assumes equal funding from Eastmain and Goldcorp. (2) Actual program to be determined by the joint venture management committee.
$4.28 Million Exploration Budget for 2014
2014 Program Overview
EASTMAIN
31
Reasons to own Eastmain
• Two High Grade Gold Deposits
• Royalty Free & 100% ER
• Mine essential Infrastructure in place
• Top Mining Jurisdiction
• Provincial Financial Incentives
• Goldcorp – long term shareholder
• Evidence for long‐life, low cost, highly
profitable gold deposit at Eau Claire
Clearwater One of the Highest‐Grade Undeveloped Gold Projects in Canada
1 cm
2,540 g/t Au (74.17 oz/ton); incl. 24.6 g/t Au over 55.6m
S‐Vein (Hole 98 – 65 m depth)
Visible Gold
EASTMAIN
32
Management, Directors & Advisory Board
Management Team With a Track Record of Exploration SuccessManagement
Advisory Board
Donald J. Robinson, Ph.D., P.GeoPresident, CEO & Director since 199430 years experience with base & precious metal depositsQualified Person (APGO & OGQ)
Catherine I. Butella, B.Sc.Exploration Manager30 years exploration experience in Canada & AustraliaPDAC “Prospector of the Year” Nominee
James L. Bezeau, BBA, CMAChief Financial Officer30 years of financial, accounting & managerial experience
David Frappier‐RivardDistrict Geologist, M.Sc., P.Geo12 years exploration experience in Canada & Africa
Jay Goldman, BA, MBA, LLBCorporate SecretaryCassels Brock & Blackwell ‐ Partner
Chad StewardManager Corporate Communications
John A. Hansuld, Ph.D.Director since 1985>45 years Mining Executive in global explorationPDAC – Mining Man & Developer of the Year; CMHF David K. Joyce,Director30+ years Mining Industry experienceIan J. Bryans, BADirector, Compensation Committee Chair30 years experience in strategic marketing Murray Short, MBA, CPA, CADirector, Audit Committee Chair9 years experience in public accounting
Directors
Richard W. Hutchinson, Ph.D. , Professor EmeritusLeading authority in Ore Deposits Geology, CMHFNeil Hillhouse, Ph.D.,50 years experience; credited with numerous discoveriesSurge Bureau, MSc, P. Eng30 years Mine Development & Project ManagementDr. Ted Moses, former Cree Grand ChiefOfficer of the Order of Quebec; Clearwater Project – Tallyman
CMHF – Canadian Mining Hall of Fame member
EASTMAIN
33
Adding Value Through Discovery
Tel: 519‐940‐4870Fax: 519‐940‐[email protected]
36 Toronto Street Suite 1000Toronto, OntarioCanada, M5C 2C5
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Contact Information
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Eau Claire Deposit Geology – Looking Southwest
FootwallVolcaniclastics &
Porphyry
F2 Fold Axis
HangingwallPorphyry
WesternPorphyry
Geological Modeling has identified spatial controls for Gold
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WesternPorphyry
HangingwallPorphyry
High‐gradeGold Zone
FootwallVolcaniclastics &
Porphyry
Eau Claire Gold Deposit – Looking SW Down Plunge
Note: The high‐grade gold system at Eau Claire occurs between a Hangingwall Porphyry (pink) and Felsic Volcaniclastic unit (blue); predominantly with altered mafic flows.
>90% of the Gold Mineralization occurs within a KEY Geological package
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Appendix A – Peer Group Companies
$ 16.26 1.48 8.40 Eagle HillWindfall Lake$ 10.14 0.88 6.49 TemexWhitney$ 124.36 0.68 7.98 Wesdome GoldWesdome$ 18.70 3.01 2.75 Richmont Wasamac$ 24.96 0.96 2.29 Marathon GoldValentine Lake$ 14.34 0.77 2.63 Adventure GoldVal-d’Or East$ 53.75 0.92 2.92 ContangoTetlin$ 229.61 0.52 4.46 St Andrew Goldfields Taylor$ 40.62 0.76 10.29 PanTerraREN$ 107.20 1.48 12.69 Premier Gold Rain$ 391.15 0.74 10.80 Premier GoldLeitch-Sand River$ 30.61 1.05 7.84 Integra Gold Lamaque$ 14.92 1.35 4.34 Huakan International J & L$ 12.81 2.15 2.64 Falco Pacific Horne 5$ 35.77 8.05 2.16 Premier Gold Hardrock$ 19.83 1.63 2.03 Treasury Metals Goliath$ 287.78 1.14 5.97 Lake Shore Gold River$ 46.83 0.51 6.12 New Pacific Goddell$ 282.69 0.71 24.99 KlondexFire Creek$ 16.18 0.77 2.84 Carlisle GoldfieldsFarley Lake$ 18.96 0.56 5.25 Gold MountainElk$ 7.37 0.73 5.42 GlobexDuquesne$ 72.14 5.42 2.42 SeabridgeCourageous Lake$ 18.54 1.85 5.08 Eastmain Clearwater$ 5.25 10.78 5.27 BarkervilleCariboo Gold Quartz$ 33.98 1.40 2.24 Chalice GoldCameron Lake$ 7.60 0.75 8.97 Timberline Butte Highlands$ 12.73 1.96 2.79 Lexam VG Buffalo Ankerite$ 26.35 0.66 4.08 Premier Gold Brookbank$ 9.58 1.44 4.63 Gowest GoldBradshaw$ 29.44 4.48 6.47 Sabina Back River$ 47.54 0.51 14.40 Chalice Gold ArdeenTEV/oz Total Oz (Millions)
Total Resources Grade (g/tonne) CompanyProject Name
