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CORPORATE PRESENTATION
“2015 AEMQ Discovery of the Year”
Eau Claire Gold Deposit
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
February 2016TSX:ER
EASTMAIN
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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 the commentary may contain forward‐looking information, therefore, you are cautioned that the Corporation’s actual results could differ materially from the 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.Donald J. Robinson, Ph.D., P.Geo has approved the information contained in this presentation. Dr. Robinson is President & CEO of the Company and a Qualified Person as defined by NI 43‐101.
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Eastmain receives AEMQ 2015 Discovery of the Year Award
Notes: From left to right: Frank Mariage ‐ AEMQ President; Don Robinson ‐ President & CEO; Richard Lavoy ‐ Field Team; David Frappier‐Rivard ‐ District Geologist; Nick Nikamoon‐Mitchell – Field Team;Jim Bezeau – CFO; Eric Gunner – Field Team; Jim McLeod – MacLeod Exploration Services; Front Row: Stephanie Leghay – Project Geologist, Cathy Butella – Exploration Manager.
:
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Investment Highlights
Focused on Exploration in Mine‐Friendly James Bay, Québec
• Experienced Management Team with
focused Strategy for Value Creation
• Top Jurisdiction with unprecedented
Financial Incentives
• Fortified Board of Directors with
Exploration, Development & Production
experience
• Mine‐building Infrastructure: airports,
roads, power, fuel…
• Extensive Project Portfolio including two
High‐Grade Gold Deposits in an
emerging Mining District1 cm
Visible Gold
Flagship: Clearwater Project
Eau Claire – High‐grade gold deposit
Royalty‐free with Discovery upside
PEA in progress; 1st step towards
development
Visible Gold
Hole 98 – 2,540 g/t Au; 24.6 g/t Au over 55.6 m
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Listed on the Toronto Stock Exchange since 1996
7.62 MOptions (average price $0.68)
C$3.5 MTreasury (1)
C$50 MMarket Capitalization
141.5 MShares Fully Diluted
133.9 MShares Issued
C$0.28 – 0.6252 Week Price Range
EASTMAIN
Market StatisticsOwnership
(1) As of Oct 31, 2015.
Share Performance
High Net Worth andRetail Investors
53.5%
InstitutionalInvestors (>20)
42.1%
Managementand Insiders
4.4%Purchased on
Market
Eastmain
S&P/TSX Global Gold Index
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Experienced – Focused – Successful
Exploration Team receives 2015 AEMQ Discovery of the Year AwardManagement
Advisory Board
Donald J. Robinson, Ph.D., P. GeoPresident, CEO & Director Catherine I. Butella, B.Sc.Exploration ManagerJames L. Bezeau, BBA, CMAChief Financial OfficerJay Goldman, BA, MBA, LLBCorporate SecretaryDavid Frappier‐Rivard, M.Sc., P. GeoDistrict Geologist
Laurie Curtis, Ph.D., P. GeoChairman, Director40+ years Mining Executive, Analyst & Capital MarketsJohn A. Hansuld, Ph.D. Director 45+ years Mining Executive in global explorationDavid K. Joyce, METDirector30+ years Mining Industry experienceClaude Lemasson, P.Eng. MBADirector28 years Mine Development & ProductionMurray Short, MBA, CPA, CADirector, Audit Committee Chair9 years experience in public accounting
Directors
Serge Bureau, M.Sc., P. Eng30 years Mine Development & Project ManagementDr. Ted Moses, former Cree Grand ChiefOfficer of the Order of Quebec; Clearwater Project – Tallyman
Front seat: James Bezeau, CFO; Back row from left to right – John Hansuld, David Joyce, Murray Short & Ian Bryans, Directors
GOLD DEPOSITS
< 0.3 M oz> 0.3 M oz> 3 M oz> 5 M oz> 10 M oz
500 km
Canada Ranks 5th in World Gold Production
CANADAJAMES BAY, QUEBEC
Past Production + Current Gold Resources (millions oz)
CANADIAN SHIELD
Hemlo
Detour
Val d’Or
RR CBGL
CWEMEL
Note: Canada ranks 5h 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 Canadian Shield Gold Camps
Gold Mining Camps in the Canadian Shield
TIMMINS
KIRKLAND LAKE
VAL D' OR
HEMLO
RED LAKE
DETOUR
NORANDA
CHIBOUGAMAU
CASA BERARDI
0 10 20 30 40 50 60 70 80
10
9
8
7
6
5
4
3
2
1
JAMES BAY, QUEBEC
KL
>200 Million Ounces of Gold produced from Canadian Shield
James Bay, QuebecRanks 8th In Canada
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JAMES BAY REGION
Clearwater Project(Eau Claire Deposit)
Eastmain Mine
Eléonore Project(Goldcorp)
50 km
JAMES BAY, QUEBEC – An Emerging Mining District
RK
LE
LG LH
ESLL
RD
RS
Eastmain
JamesBay
Nemaska
Radisson/LG2
Route 167 Nord Newly Constructed
StornowayRenard Deposit
Mistissini
RH
Superior Infrastructure – Top Jurisdiction
QUEBEC
Map Area
RH
HydroInstallation
ClearwaterEastmain MineES – Eléonore SouthLE – Lac ElmerLG – LidgeLL – Lac LessardLH – Lac HudsonRD – RadissonRK – Road KingRS – ReservoirRH – Ruby HillEM1 – Hydro Quebec
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.
EastmainProjectEM‐1
Temiscamie
EM‐1
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Eastmain Reservoir
Clearwater Project – Road & Power Accessible
Hydro‐electric hook‐up 15 kms from Eau Claire deposit
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
N
Eau C
laire 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
Mine‐ready infrastructure in place.
Eleono
re Transm
ission Lin
e
Depot
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Clearwater Project – Eau Claire Gold Deposit
Grade – One of the Highest O/P in North America
Growth – Kilometric‐size M&I Resource Target
Geology – Driving New Discoveries
Gold Price & Currency Exchange
Significant Value Drivers – 4 G’s
Note: M+I – measured and indicated resource category; O/P – Open Pit; PEA‐ Preliminary Economic Assessment – optimization studies underway.
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Grade
• Gold grade & vein geometry improves with drill spacing
• M&I – 4.05 g/t (25 x 50 m); Measured – 7.29 g/t (12.5 x 25 m)
• 839 Drill intercepts @ 10.1 g/t Au /2.5 m (≥2.5 g/t Au cut‐off)
• 535 Drill intercepts @ 14.0 g/t Au /2.5 m (≥4.0 g/t Au cut‐off)
Growth
• Kilometric‐scale M&I Expansion Target for Open Pit‐constrained & Ramp‐accessible Underground Resources
• Property‐scale Resource Targets along Eau Claire Belt
Milestones\Value Drivers
• Preliminary Economic Assessment Q2\16; Grade + $Au + Currency
Focused on Expanding M&I Gold Resources
Eau Claire is Higher Grade than 75% of all Gold Deposits Worldwide
450 WEST ZONE – P VEINPIANO‐KEY BRECCIA
Note 1. Eau Claire Open Pit Resources based on US$1300 gold price, $0.90 Cdn currency, 95% recovery, 5% dilution, 5% mining loss, 0.5 g/t Au cut‐off grade
Objective: Outline sufficient gold resources for a Long‐Life, Low‐Cost, Highly‐Profitable Gold Mine.
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907.4612.0196.0184.0490
529.375.5239.0233.5
979.6910.0240.5230.5520
44.4
25.8
131.5*
11.4
8.50
19.9
10.5
18.5
11.0
31.4
17.7
Au g/t
1103.5164.0160.5Incl.
1156.5164.0157.5412
1774.0343.2339.2533
1034.0283.2279.2532
2622.0258.5256.5524
807.0329.0322.0Incl.
13616.0336.0320.0512
995.0158.0153.0Incl.
13112.5164.5152.0501
925.0250.5245.5Incl.
12111.0250.5239.5456
Au GMInterval (m)To (m)From (m)Hole
Exceptional Drill Results: ranging from >50 to 260 GM* Gold
Eau Claire – Drill Assay Highlights
Note * ‐ Re‐assay 199 g/t Au /2.0 m, incl. 399 g/t Au /0.5 m; Au GM – gold grade x metres.
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2015 SRK Mineral Resource Statement (1)
Note 1. Technical Report for the Eau Claire Deposit, Clearwater Project by SRK Consulting (June 2015) filed on SEDAR.
3.23
5.42
3.12
6.07
3.63
5.38
10.18
(g/t)
Te Grade
633,000
951,000
523,000
66,000
110,000
885,000
227,000
(Au oz)
Gold
9,9007.29970Measured
16,4003.885,072Total Inferred
39,2004.097,225Total Measured & Indicated
12,4004.093,974Inferred
2,6004.78428Measured & Indicated
Eau Claire – Underground(2.5 g/t cut‐off grade)
4,0003.121,098Inferred
36,6004.056,797Measured & Indicated
Eau Claire ‐ Open Pit (Whittle Pit Constrained) (0.5 g/t cut‐off grade)
Te (kg)(g/t)(000’s)
TelluriumAu GradeTonnes
M&I Open Pit Resources increased by 53% at a very high gold grade
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HIGH PRIORITY
CORR
IDOR
Clearwater Project – Belt scale exploration targets
5 km (3.1 miles)
Major Gold Deposits throughout the World are found near Deep‐Seated Structures 44
0000
mE
4450
00 m
E
4500
00 m
E
4550
00 m
E
4650
00 m
E
4600
00 m
E
5790000 mN
5785000 mN
5780000 mN
LEGEND
D3 D1 D2
Priority Target
Structural Corridor
BG
SP
SL
NL
KN
SD
REGIONALSTRUCTURAL BREAK
Mafic Volcanics Felsic Intrusive
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; BM – Boomerang; CL – Clovis; KN – Knight; NL – Natel; SD – Serendipity; SL – Snake Lake; SP – Spider; >1370 rock samples ranging from >0.5 to 405 g/t Au
CL
Eau ClaireGold Deposit
>0.5 to 405 g/t Au rock sample
BMSL
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Base Camp
Clovis Lake
Tonalite Lake
Snake Lake
Aupapiskach Lake
BoomerangLake
Open PitTarget
Eau Claire Gold Belt – Multiple Resource Targets
Felsic Volcaniclastic rock
Mafic Volcanic rock Felsic Porphyry/Tonalite
Eau Claire displays same characteristics as Major Gold Deposits Worldwide
1 kmGold Mineralization
Note – Eau Claire Gold Deposit surface projection represents the 0.5 g/t Au grade shell created in Leapfrog. BM – Boomerang, CL – Clovis; SL – Snake Lake; SP ‐ Spider
N
445,
000
mE
5,784,000 mN
449,
000
mE
447,
000
mE
Eau Claire Gold Deposit 5,786,000 mN
0.5 to 1.0 g/t Au (327)
30 to 405 g/t Au (112)10 to 30 g/t Au (164)5 to 10 g/t Au (166)
2.5 to 5 g/t Au (252)1.0 to 2.5 g/t Au (350)
Rock/Channel Sample Data (# samples)
BM
CL
SP
538
548
7.19 g/t Au / 3m
SL
Open PitTarget
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Eau Claire Gold Deposit – Critical Mass
Eau Claire Gold Deposit Footprint – 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
850West Zone 450West Zone
OPENOPEN
375
OPEN
358
426
456
533
490
522521
411 412
406
524
388
532
501
512
520
High‐grade gold zone (50 to 260 gm Au)
UG Ramp Target
3 to 5 times Average Gold Mine Grade – 3D Plan View
21
2
+
2
1
Gold intercept added to 2015 resource
1 Open Pit
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Eau Claire – Open Pit & Ramp Accessible Resources
Longitudinal View – 450 & 850 West Zones
• 2012 & 2013 Drilling 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
High Grade Intercept >50 to 260 gram‐metres gold
Previous resource gold drill intercept
450West Zone850 West Zone
0 m RL
OPEN
OPEN
1.2 kms
524
ER12‐412
456
512
533
521490
501
520
522532534
Gold drill intercept added to 2015 resource
1
2
UG Ramp Target 21 Open Pit
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Eau Claire – Longitudinal View (looking north)
2015 Drilling – Expanding M&I Resources: 450 West Zone
• 2015: 26 Composite drill intercepts with an average grade of 7.76 g/t Au over an average width of 2.73 m (≥2.5 g/t Au cut‐off grade)• 535 Composite drill intercepts to date with an average grade of 14.0 g/t Au over an average thickness of 2.5 m (≥4.0 g/t Au cut‐off grade)
450 WestZone
850 WestZone
Indicated Resource
0 m RL
‐300 m RL
2015 Drill Interval Au
Measured Resource57020.4 g/t Au/3.0 m
57715.4 g/t Au/6.0m
6
15
10
5569.35 g/t Au/3.0m
56824.8 g/t Au/2.0m 572
6.20 g/t Au/5.5 m
5665.98 g/t Au/4.5m
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Eau Claire – Longitudinal View (looking north)
More drilling = higher grade + better continuity
• Open Pit Resources defined by Whittle Pit Optimizer based on 0.5 g/t Au cut‐off grade, US$1300 gold price, $0.90 CDN currency, 95% recovery• M&I Open Pit Resources drilled at 25 by 50 m spacing; Underground resources drilled at 50 to >100 m centres; Measured resources within purple ellipse;
450 WestZone
850 WestZone
Limit of Drilling
1 km
13.7 g/t Au /5 m
>15 g/t Au
High Potential Area M&I Resource Expansion
0 m RL 2
1
‐300 m RL
UG Ramp Target 21 Open Pit
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450 West Trench (Average GT* = 110 gm Au)
M&I Resource Size & Grade
Open‐pit contained Au: 885 koz (M&I) + 110 koz (IF)4.1 g/t Au; One of the highest in NA
Metallurgy High Gravity; 98.5% Total Recovery
Infrastructure Road + Power + Airports + Fuel…
Stage Resource Expansion + Optimization Development
Catalysts PEA + Drilling + New Discoveries + Currency
P
JQR
Channel samples: R15 – 39.2 g/t Au / 8.5 m; JQ36 – 27.1 g/t Au/9.9 m
R15
JQ36
• P Vein – 11.1 g/t Au /2.53 m x 160 m; JQ Vein – 11.3 g/t Au / 3.09 m x 195 m; R Vein ‐ 19.3 g/t Au / 2.41 m x 95 m • GT – grade x thickness; GM – gram x metres
450 West Trench
1
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Exploration Phases
Transitioning towards Development
Joint Venture with ProducerCarried Interest/Royalty
Sell CompanyCreate Spin Co.
Retain NSR & Project Portfolio
Sell ProjectMaintain Capital Structure
Retain NSR & Project Portfolio
Add Development Team & Build Project
Development Pathways
Resource Estimate
Preliminary Economic Assessment Q2/16
Pre‐Feasibility Studies
Permitting / Detailed Engineering
Construction
Production De-risking & Creating Value
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Competitive Landscape – High‐Grade Open Pits in North America
Eau Claire Ranks #217 undeveloped open‐pit gold projects; only 9 are owned by an explorerM+I Resource Grade by Project (Au g/t)(1) Owner(s)
Sabina Gold & Silver Corp.
Eastmain
AuRico
Torex Gold
Kinross
Newmont
Seabridge Gold
Barrick (50%) / NovaGold (50%)
ATAC
Aquila
Chalice Gold Mines
Newmont
OceanaGold
Midas Gold
Kaminak
Goldcorp
Centerra (50%) / Premier Gold (50%)
Mkt. Cap (US$M)
Source: SNL Mining & Metals and S&P Capital IQ as at market close on October 30th , 2015(1) Open‐pit portion of mineral resources; Open‐Pit M+I Resources >0.5M ounces + M+I Grade >1.5 g/t
$92
$37
$982
$744
$2,304
$10,927
$411
$8,952 / $1,147
$36
$24
$23
$10,927
$1,152
$34
$89
$10,613
$1,332 / $313
M+I Au koz
3,346
885608
4,950
840
1,720
7,963
39,007
506
642
684
2,254
4,039
5,464
718
1,349
3,972
>50% Owned by Junior Explorer
>50% Owned by Tier 1 or Tier II Producer
Eau Claire
North‐umberland
Back River
Farley Lake
Morelos
White Gold
Long Canyon
Courageous Lake
Donlin Gold
Rackla
Back Forty
Hardrock
Cameron
Haile
Stibnite
Coffee
Borden Lake
5.1
4.13.2
2.7
2.3
2.8
2.2
2.22.1
2.0
1.9
1.71.6
1.61.5
1.5
2.5
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$65 $64
$57
$49 $48
$24$22 $21
$19
$12$10 $10 $9 $8 $8 $7 $6 $5 $5 $4 $4
$2‐
$‐
$10
$20
$30
$40
$50
$60
$70
Integ
ra (2)As
cot
TMAC
Preti
um (2
)Pr
emier
Gold
Auryn
Eastm
ainAv
erag
eKa
mina
kNi
oGold
Sabin
aGo
west
Gold
Marat
hon G
old Falco
Gold
Cany
onAm
arcLe
xam
VGPu
re Go
ldSe
abrid
geMo
neta
Victo
riaMe
ga Pr
eciou
sCh
alice
Gold
Comparables – Canadian Million‐Ounce Gold Deposits
Selected Million‐Ounce Gold Deposits in Canada owned by Explorers >1 Moz Canadian Gold Projects owned by Developers (51 Projects, Median 1.4 g/t Au / 2.1 M oz)
Global Gold Mines & Deposits (2015)692 – Million Oz Gold Deposits Worldwide261 – Producing431 – Undeveloped76% – 1 to 5 Moz range67% – <3 g/t Au1995 – Peak Discovery2014 – 92 Moz World Production
Source: Company Disclosure, Bloomberg, Capital IQ as at October 30, 2015(1) Enterprise Value = Market Cap. + Debt + Minority Interest – Cash(2) Pretium: Excludes Snowfields resource, Integra: Excludes Lamaque North resource
Ente
rpris
e Va
lue
per O
unce
of G
old
(1)
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Eastmain Value Drivers
• Grade – 2nd Highest O/P in NA
• Growth – Kilometric M&I Target
• Geology – New Discoveries
• G Mining – PEA Q2/2016
• Transition to Development stage
Mining Friendly Quebec – 50% Exploration Rebates
Piano Key Breccia Vein
High‐grade Gold AlterationRoyalty Free
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Adding Value Through Discovery
Tel: 519‐940‐4870Fax: 519‐940‐[email protected]
36 Toronto Street Suite 1000Toronto, OntarioCanada, M5C 2C5
EASTMAINEASTMAIN
Contact Information
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450 West Zone – Improved Geological Understanding
3D Plan View of the HGV Gold Domain WireframesThree Gold‐bearing Domain Orientations have been defined within the 450 West Zone
• GREEN – First Generation – “Foliation Parallel” M8 Actinolite‐Tourmaline Schist; shape conforms to adjacent Hangingwall Porphyry dyke swarm• RED – Second Generation – Laminated & Piano Key Breccia, Quartz‐Tourmaline “Feeder Veins”; aligned parallel to F2 fold axial trace• Yellow – Third Generation – Northwest trending High Grade gold‐bearing structure extending for a length of >800 metres
HGS – S3HGS – S1(GREEN)
HGS – S2
1 km
East – West Trending HIGH GRADE GOLDDOMAINS (RED)
S – NW1 (YELLOW) 13.7 g/t Au 5.0 m
500 g/t Au 2.0 m
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450 West Zone – High Grade Gold Domains (Section View)
3D Sectional View of the HGV Gold Domain Wire Frames Looking West Three High‐Grade Gold‐bearing Domain Orientations within the 450 West Zone
• 3D High Grade Gold wire frames Looking West; 3 orientations have been defined (GREEN – foliation parallel; RED – East‐West; YELLOW – Northwest )• Open Pit Limits are constrained by Whittle Pit optimizer software.
N
‐300 m
300 m
0 m
S – NW1(YELLOW)
High Grade Schist Domains
(GREEN)
450 West Zone
885,000 oz M&I110,000 oz IF
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Eau Claire Deposit – 450 West Zone Trench
P VEIN
Multiple gold‐bearing quartz‐tourmaline veins & alteration zones exposed for 100’s of metres on the 450 West Zone trench
COMPOSITE CHANNEL SAMPLE DATA
R VEIN – 19.3 g/t Au / 2.41 m x 95 m
JQ VEIN – 11.3 g/t Au / 3.09 m x 195 m
P VEIN – 11.1 g/t Au / 2.53 m x 160 m
Note: Veins and alteration zones have been sampled at 5 metre intervals across the 450 West Zone exposure.
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High‐Grade Gold Quartz‐Tourmaline Veins
Piano‐key breccia veins – Tourmaline blocks cemented by quartz‐carbonate
Note: Piano‐key breccia textures are seen throughout the deposit as millimetre through metre scale layers within the vein structure.
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Alteration Zones with high‐grade Gold
Tourmaline (black) + Actinolite (green) altered basalt
Note: Gold‐bearing actinolite and tourmaline alteration envelopes the vein structures and also occurs in layers along the rock foliation.
EASTMAIN
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High‐Grade Gold “HINGE” Zones at Eau Claire Deposit
Note – Drill hole 303 intersected 10.5 m at 7.79 g/t Au (V12) including 24.9 g/t Au over 2.5m. Photos illustrate a central laminated quartz‐tourmaline vein (A) bounded on both sides by a tourmaline‐rich replacement zone (B) along the rock foliation. VG – visible gold.
AB B
VG
VGVG
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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
• Quebec government’s Plan Nord program provides new infrastructure to James Bay region; MTQ built Sections A & B of Route 167 North Extension
• Stornoway 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)
Lac Lessard
Renard
Eastmain
Strateco
25 km
Temiscamie
Sections A & BMTQ143 km of RegionalHighway (70 km/hr)
Route 167
D
A
B
CWestern Troy
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• Eastmain Mine and Ruby Hill East – 100% Ownership (125 km2)
• New Route 167 North provides permanent road access
• Exploration confirms drill targets on both properties
• Eastmain Mine:Historical M&I Resource 250K ounces Gold 1M tonnes at 9.95 g/t Au (1)
• Mine Trend >10 km long possibly repeated on Ruby Hill East
• Substantial Resource Growth & Discovery Potential
Eastmain Mine\Ruby Hill East – 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
Access 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 Targets
Airstrip
N
EASTMAIN
34
TSX:ER
Ruby Hill East \ Eastmain Mine Projects
Gold‐in‐soil horizon detected on Ruby Hill East Claim Block 5,797,500 m
N
700,000 mE
700,000 mE690,000 mE 695,000 mE
5,79
7,50
0 m
N5,
802,
500
mN 5,802,500 m
N
695,000 mE690,000 mE
Gold‐in‐soilTarget
LEGEND
1 – 5 ppb Au
50 – 500 ppb Au
10 – 50 ppb Au
5 – 10 ppb Au
SOIL ASSAY DATA
A & B GoldZones
Mine TrendRuby Hill East
Eastmain Mine Claim Block1 km
EASTMAIN
35
TSX:ER
Eastmain Mine Project – Airborne Magnetic Survey Data
5,800,000 mN
699,000 mE698,000 mE 700,000 mE
700,000 mE698,000 mE 699,000 mE
697,000 mE
697,000 mE
5,80
1,00
0 m
N
696,000 mE
696,000 mE
5,79
8,00
0 m
N5,
799,
000
mN
5,80
0,00
0 m
N
5,799,000 mN
5,798,000 mN
Rock Sampling defines Four Au‐Ag‐Cu Targets along Mine Horizon
LEGEND
> 0.1 g/t Au
> 5.0 g/t Au
> 1.0 g/t Au
> 0.5 g/t Au
Michel Target0.5 to 125.1 g/t Au0.5 to 12.5 g/t Ag0.1 to 1.08% Cu
Julien Target0.5 to 27.2 g/t Au0.5 to 28.8 g/t Ag0.1 to 2.3% Cu
Susanna Target0.5 to 38.7 g/t Au0.5 to 26.6 g/t Ag0.1 to 3.06% Cu
Hillhouse Target0.5 to 39.5 g/t Au0.5 to 25.8 g/t Ag0.1 to 2.4% Cu
700,000 mE696,000 mE 697,000 mE 698,000 mE
700,000 mE696,000 mE 697,000 mE 698,000 mE
699,000 mE
5,801,000 mN
5,798,000 mN
5,799,000 mN
5,799,000 mN
5,798,000 mN
5,801,000 mN
Eastmain Gold Deposit
699,000 mE
500 m
ROCK ASSAY DATA
Mine Trend
EASTMAIN
36
TSX:ER
5,83
5,00
0 m
N5,
840,
000
mN
5,83
0,00
0 m
N
Eleonore Deposit Area, James Bay Quebec
Two parallel Gold‐bearing structures on Eleonore South JV
LEGEND
440,000 mE
5830000 mN
420,000 mE 430,000 mE
5840000 mN
Rock sample 0.1 – 1 g/t AuRock sample > 1 g/t Au
Sirios Drill Hole
ES JV Drill HoleGold-bearing horizon
ELEONORE MINE(Goldcorp)
CHEECHOO(Sirios\Golden Valley)
ELEONORE SOUTH(Eastmain\Goldcorp\Azimut)
4.97 M oz Au @ 6.30 g/t Au P&P1.06 M oz Au @ 6.34 g/t Au M&I2.80 M oz Au @ 7.19 g/t Au IF
SIRIOS DrillingMultiple intercepts from 20 to 50+metres wide at 1.0 to 2.96 g/t AuDH15-20 – 15.6 g/t Au /9.70 m &15.0 g/t Au /12.4 mZones project onto ES JV claims
JT Gold ZoneMultiple drill interceptsfrom 5 to 20 m wide Ranging from 1 to 2 g/t AuUp to 5.3 g/t Au /8.0 in channelsamples; 1km length
JT
Roberto Gold Deposit