21
Western Atlas Resources (TSX-V: WA) Focused on the acquisition and development of scalable precious metals projects in premier mining jurisdictions Corporate Presentation December 2018 The image part with relationship ID rId3 was not found in the file. The image part with relationship ID rId3 was not found in the file.

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Page 1: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

Western Atlas Resources

(TSX-V: WA)Focused on the acquisition and development of scalable precious metals projects in

premier mining jurisdictions

Corporate PresentationDecember 2018

The image part with relationship ID rId3 was not found in the file.

The image part with relationship ID rId3 was not found in the file.

Page 2: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

Disclaimer Western Atlas Resources

This presentation contains “forward-looking statements” and “forward looking information” (as defined under applicable securities laws), including but notlimited to, statements with respect to the Company’s current and future projects, plans and operating performance, including in respect of the growthpotential of the Western Atlas’ Projects, the success of exploration activities, future capital expenditures, future financing sources. Generally, theseforward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts” and“anticipates”. Forward-looking statements and information, while based on management’s best estimates and assumptions, are subject to risks anduncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including butnot limited to: risks related to the completion of any acquisitions, risks related to the successful integration of any acquisitions; risks related tointernational operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipatedreclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations inforeign currency exchange rates, increases in market prices of mining consumables, accidents and labour disputes, title disputes, claims and limitationson insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules andregulations, and political and economic developments in countries in which Western Atlas Resources operates. Although Western Atlas Resources hasattempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there maybe other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to beaccurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements andforward-looking information are made as of the relevant date and Western Atlas Resources disclaims any obligation to update any such factors or topublicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained in this presentation toreflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information.

Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare an independent Technical Report on the MeadowbankArea Project held by Western Atlas, located in Nunavut Territory, Canada. This Technical Report conforms to NI 43-101 Standards of Disclosure forMineral Projects. RPA visited the property on July 25, 2017. This report, titled “Technical Report on the Meadowbank Area Project, Nunavut Territory,Canada”, and dated September 13, 2017 was prepared and signed by Paul Chamois M.Sc., P.Geo., Principal Geologist at RPA and a “qualified person”as defined in NI 43-101 independent of the Company. He has prepared or supervised the preparation of the technical information upon which portions ofthis presentation are based. Unless otherwise stated, scientific and technical information concerning the Western Atlas’ Projects, is summarized,derived, or extracted from the Technical Report, which is available for review on the Company's website at www.westernar.com.

Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare an independent Technical Report on the Committee BayArea Project held by Western Atlas, located in Nunavut Territory, Canada. This Technical Report conforms to NI 43-101 Standards of Disclosure forMineral Projects. RPA visited the property on July 26, 2017. This report titled “Technical Report on the Committee Bay Area Project, Nunavut Territory,Canada”, and dated September 8, 2017 was prepared and signed by Paul Chamois M.Sc., P.Geo., Principal Geologist at RPA and a “qualified person”as defined in NI 43-101 independent of the Company. He has prepared or supervised the preparation of the technical information upon which portions ofthis presentation are based. Unless otherwise stated, scientific and technical information concerning the Western Atlas’ Projects, is summarized,derived, or extracted from the Technical Report, which is available for review on Company's website at www.westernar.com.

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Page 3: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

Multidecade combined experience and successful track-record in both the natural resources and the capital market industries

Serafino Iacono – Chairman• 30+ years of experience in financing and developing of oil, mining andother resource projects in Latin America, the United States and Europe.Raised more than $5 billion for numerous natural resource projects

• Co-founder and Ex. Chairman Gran Colombia Gold Corp. (Colombia’slargest gold producer), Medoro Resources Ltd., and Bolivar Gold Corp.(sold to Gold Fields)

• Co-founder and fmr. Ex. Chairman of Pacific Rubiales Energy Corp. (nowFrontera Energy Corporation)

Fabio Capponi – President & CEO, Director• 14+ years experience and successful track-record in creating, structuringand selling natural resources companies in Europe and both North andLatin America

• Co-Founder and CEO, Director of CB Gold Inc. (sold in Dec 2015)

• Previously with Endeavour Financial, has held Director and Managementpositions with private companies

• Master’s degree in economics and business administration from the LUISSGuido Carli University of Rome, Italy

Jose Francisco Arata - Director• 30+ years of experience in exploration, development and production ofmineral and hydrocarbons projects in Latin America

• Co-founder of Gran Colombia Gold Corp (Colombia’s largest goldproducer), Medoro Resources Ltd., and Bolivar Gold Corp. (sold to GoldFields)

• Co-founder and fmr. President and Executive Director of Pacific RubialesEnergy Corp. (now Frontera Energy Corporation)

• Degree in Geology from the University of Turin, Italy and a Degree inGeological Engineering from the Central University of Venezuela 3

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Michael Galego – Director• 10+ years of M&A and corporate finance experience

• Currently serves as Chief Executive Officer of the Stronach Group'sAgricultural Division

• Fmr. Director of ICC Labs Inc. and current Director of ApoloAcquisition Corp.

• Director of Trillium Gift of Life Network and the Canadian LiverFoundation. Mr. Galego is a graduate of York University with Hons.B.A. and the University of Windsor with LL.B.

Susan Rubin – Chief Financial Officer & Corporate Secretary, CPA,CA• 20+ years of experience in the junior mining exploration sector and thehigh tech sector

• Fmr. CFO of CB Gold Inc. (sold in Dec 2015), Ventana Gold Corp.,and Wildcat Silver Corp.

• Held various progressively senior management positions in financeand audit

Victor Torres - Senior Exploration Geologist - Geological Engineer• Over 15 years of experience in mining exploration and project

development

• Fmr. Chief Project Geologist with CB Gold Inc. (sold in Dec 2015)

• Previously project geologist with Teck Cominco, Placer Dome,Antofagasta Minerals and production geologist for Centromin Peru

• BSc. in Geological Engineering from the Universidad Nacional Mayorde San Marcos of Lima, Peru and is member of the PeruvianEngineers Association (CIP)

Directors and Management Western Atlas Resources

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Capital Structure Western Atlas Resources

Management & Insiders46%

US Global Investors

7%

Public Float47%

Exercise Price WA Expiry date

Shares I/O 56,380,370

Options $0.12 - $0.32 2 years 4,855,700

Warrants $0.30 1.5 years 2,053,750

Fully Diluted 63,289,820

Western Atlas Resources - Capital Structure (December 2018)

Page 5: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

Proven Team - Ability to perform and deliver• Decades of successful track-record in both the natural resources and the capital marketindustries. Board and management have discovered, advanced and created value throughproduction and monetization of several projects. Among others:• Gran Colombia Gold – Largest gold producer in Colombia (E2018 production of 220k ozof Au at AISC averaged of $888 oz/Au) and over 5.1M oz in resources

• Bolivar Gold Corp - El Callao Mines, Venezuela - 10.7M oz grading 2.0 g/t in M+Iresources (inclusive P+P of 5.5M oz grading at 1.9g/t) – sold to Gold Fields for US$330M

Current Projects• Currently located in Nunavut, Canada - a low risk and mining-friendly jurisdiction• District scale land holdings (170km2) - 100% owned mineral claims along trend andadjacent to Agnico Eagle’s Meadowbank producing gold mine, Amaruq gold deposit,Greyhound project and Auryn Resources’s Three Bluffs deposit

• Fully Permitted and Drill ready• Land use (Class A) and Water use (Type B) permits received and in place

• Already defined targets for follow up and drilling - several of these targets have yielded goldvalues of up to 13.30 g/t Au and up to 44.7 g/t Ag during the 2017 and 2018 sampling

Corporate Strategy• Leverage on Board and Management’s broad and proven range of skills to increase theproject pipeline and to add long term value• Early-Stage - buy early and add value through the drill-bit• JV and/or acquisition of new assets with historic data

• Treasury management - lid on the G&A expenses5

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Investment Highlights and Strategy Western Atlas Resources

BOLIVAR GOLD CORP.

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Why Nunavut Western Atlas Resources

• Pro-mining jurisdictions and home to some world class mining projects• Over 12M oz/Au in P+P reserves, 14M oz/Au in M+I and 9M oz/Au in Inferred resources• Serviced year round - local infrastructure and labour

• Baker Lake and the Rankin Inlet are a hub of mining activity in the region. Baker Lake provides summer shippingaccess via Hudson Bay and year-round airport facilities. Agnico’s Meadowbank mine has a 110km all-weather road(which passes through Western Atlas’ Meadowbank claims), from Baker Lake to the Meadowbank mine site to Amaruq

• Vast, highly perspective areas provide additional opportunities to add value through discovery

P+PReserves M+IResources InferredResourcesMoz/Au Moz/Au Moz/Au

AgnicoEagleMeadowbankgoldmine 0.35 0.18 0.12Medialineadvancedstageproject* 3.67 3.07 2.69Amaruqgolddeposit 2.37 1.02 1.74TotalAgnicoEagle 6.38 4.27 4.55TMACResourcesHopeBayproject** 3.51 4.51 1.43SabinaGoldandSilverBackRivergoldproject** 2.50 5.33 1.85AurynResourcesThreeBluffsdeposit(CommitteeBayarea) - 0.52 0.72NordgoldPistolBaygoldproject - - 0.74

CombinedTotal 12.39 14.64 9.29*Note:operationsexp.tobegininQ22019**Note:M+IinclusiveofP+P

Nunavut-Companies'MineralReservesandResources

CANADA

Nunavut

Page 7: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

District scale land holding:• 580 km2 of highly prospective and strategicallylocated mineral claims, in Nunavut, Canada

• Claims were staked by Western Atlas at nominalcosts – No third party options or royalties

Immediately adjacent to Agnico Eagle’sMeadowbank producing gold mine, Amaruqgold deposit and Greyhound project• Meadowbank 2017 production of 352k oz/Au at totalcash costs of $614/oz

• Amaruq E2019 and E2020 production of 162k and265k oz/Au respectively

• P+P 2.7M oz/Au, M+I 1.2M oz/Au and Inferredresources of 1.7M oz/Au (*)

• Greyhound project – (optioned to Agnico by AuraSilver)

Fully Permitted Exploration - Drill Ready:• Land and Water use permits received (incl. drillingand site camp)

Note: (*) Agnico’s Meadowbank open pit mine (Goose, Portage and Vaultdeposits), and Amaruq gold deposit. Reserves and Resources do not includethe Meliadine deposit.

7

Meadowbank Project Western Atlas Resources

Agnico’s Meadowbank

Producing Gold Mine

Agnico’s Amaruq Deposit

Page 8: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

2017 and 2018 Meadowbank Geological Program• 2017: Completed data compilation on work performed by previousoperators on and in the vicinity of the Meadowbank Project mineralclaims

• 2017: Completed over 3,800 km of airborne magnetic survey

• 2017: NI43-101 Technical Reports (prepared by RPA)

• 2018: Completed detailed mapping and sampling program - up to6.6 g/t Au and 44.7 g/t Ag (up to 13.3 g/t Au with the 2017sampling program)

• 2018: Completed over 1,500 line-km of helicopter-borne VTEM(survey was carried out by Geotech Ltd)

• 2018: Completed over 32 line-km of ground IP survey over specifictargets located in Block B (survey was carried out by Peter E.Walcott & Associates Ltd)

• 2018: Completed electromagnetic anomaly picking (EM) and AIIPprocessing report (by Geotech Ltd)

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Meadowbank Project - Exploration Program Western Atlas Resources

• Exploration results suggest multiple conductors with kilometres strike length located within afavourable Archaean greenstone belt geological environment with known iron formation hosted goldmineralization

• Similar geological settings can be found at Agnico Eagle’s neighbouring Meadowbank producing goldmine and Amaruq deposits

Page 9: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

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Meadowbank Project - Exploration Block B Western Atlas Resources

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¯

Outcrops

2017-2018 Grab SamplesAu (g/t)

!( <0.015

!( 0.015 - 0.050

!( 0.051 - 0.100

!( 0.101 - 1.000

!( 1.001 - 2.500

!( >2.500

BIF DBQFP

SLT UV FV MV QZQW GN

Cover

Banded Iron Formation (BIF +/- Au)

Shear Zone (+/-Au)

Diabase

Quartz-Feldspar Porphyry (QFP)

Shale/Slate (SLT)

Ultramafic Volcanics (UV)

Felsic Volcanics (FV)

Mafic Volcanics (MV)

Quartzite (QZ)

Greywacke (GW)

Granite (GN)

GeologyAirborne VTEM Plus (Completed)

Block B Boundary

Magnetic Lines (as identified by airborne magnetic survey)

Shear

Fault

(( Thrust Fault

Road

0.551

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640000

642000

644000

646000

648000

7186000

7188000

7190000

0 1 2km

0 1 2km

13.3

Block B – Target B1 – VTEM Results with Geology

Block B – Target B2 – VTEM Results with Geology

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624000

626000

628000

630000

632000

634000

7188000

7190000

7192000

Block B – Target B3 – VTEM Results with Geology

0.00990.01160.01280.01380.01470.01560.01640.01730.01820.01910.01990.02090.02180.02280.02390.02490.02600.02730.02870.03050.03270.03610.04130.05080.06440.08130.10490.14050.18580.24390.31030.42780.57170.73050.92521.13451.35661.6185

Tau dB/dt(ms)

6.89 0.63

0.68

1.02

5.65 2.06

0.87

2.232.95

4.85

-0.0010-0.0004-0.00010.00020.00040.00060.00080.00100.00110.00120.00140.00150.00160.00170.00180.00200.00210.00220.00230.00240.00250.00260.00270.00280.00290.00300.00320.00330.00340.00360.00370.00390.00400.00420.00450.00470.00510.0057

dB/dt 0.440 mspV/(A*m^4)

0.551

0.734

0.00150.00220.00440.00750.01150.01620.02070.02530.02960.03390.03800.04200.04600.04980.05370.05770.06180.06600.06990.07410.07840.08270.08720.09200.09690.10240.10790.11430.12140.12950.13920.15100.16630.18630.21170.24970.32760.5917

dB/dt 0.073 mspV/(A*m^4)

6.89

0.68 13.31.02

5.65

2.06

0.87

0.63

2.23

2.95

4.85

0.975

1.02

0.734

Target B3

Target B2

Target B1

0 1 2km

DATE: DECEMBER, 2018

SCALE: AS SHOWN

PROJECTION: UTM ZONE 14/15, NAD 83

DRAWN BY: AMANDA TUCK

Western Atlas Resources Inc. Meadowbank Area Project

Nunavut Territory, Canada

BLOCK B VTEM Results with Geology

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10The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - Exploration Block B Western Atlas Resources

• Due to other gold discoveries in Meadowbank, the geological and structural framework as it relates to gold mineralization inthe area is well understood and generally associated with Banded Iron Formation (BIF) and shear zones, among others

• Results of Block B’s field traverses and related mapping have allowed the Company to highlight geological formations suchas BIF and shear zones with a strike length in the order of kilometers

Block B, South Target • Over 15 Km BIF

• Over 13 km Shear zones

Block B, North East Target

• Over 3 Km BIF

• Over 2 km Shear zones

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Highlights from VTEM results• 1,500 line kilometres of surveying completedin three survey areas (VTEM survey wascarried out by Geotech Ltd.) over portions ofthe Meadowbank Blocks A, B and C

• Aimed at identifying bedrock conductiveresponses in areas that Western Atlasconsiders to be geologically permissive forgold mineralization

• Numerous strong electromagnetic (EM)anomalies were located in Blocks B and C

• The strong EM double-peak anomalies arerelated to bedrock conductors, i.e., BIF-related sulphides (including pyrrhotitepossibly) - Electromagnetic anomaly picking(EM) and AIIP processing report (by GeotechLtd)

11The image part with relationship ID rId3 was not found in the file.

Meadowbank Project – VTEM survey Western Atlas Resources

IVR pit

Whale Tail pit

60000060

0000

650000

6500

00

7150000 7150000

7200000 7200000

7250000 7250000

¯

A

B

C

Baker Lake

636000

6360

00

638000

6380

00

640000

6400

00

642000

6420

00

644000

6440

00

646000

6460

00

7176000 7176000

7178000 7178000

7180000 7180000

644000

6440

00

646000

6460

00

7188000 7188000

634000

6340

00

636000

6360

007236000 7236000

7238000 7238000

0 0.5 1Km

0 0.5 1Km

0 1 2Km

TARGET A1

TARGET B1

TARGET B2

0 10 20Km

Western Atlas Resources Properties

Agnico - Amaruq Property

Agnico - Meadowbank Property

JV Agnico-Aura Silver Greyhound Property

Aura Silver Property

Agnico - New Properties

Inuit Owned Lands (IOL)

IOL Subsurface Agreements

Road

634000

6340

00

636000

6360

00

7166000 7166000

0 0.5 1Km

TARGET C1

Phaser pit

BB Phaser pit

Portage deposit

Goose deposit

Vault deposit

DATE: DECEMBER, 2018

SCALE: AS SHOWN

PROJECTION: UTM ZONE 14/15, NAD 83

DRAWN BY: AMANDA TUCK

Western Atlas Resources Inc. Meadowbank Area Project

Nunavut Territory, Canada

TARGETS A1, B1, B2, AND C1 VTEM SURVEY LOCATIONS

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12The image part with relationship ID rId4 was not found in the file.

• In Block B, area B1, most of the EM anomalies are located in two parallel conductive trends, trending NE-SW (andas isolated anomalies) corresponding with a stacked series of sub-vertical conductors

Meadowbank Project - VTEM survey, Block B Western Atlas Resources

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13The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - IP Survey, Block B Western Atlas Resources

Highlights from IP results• Multiple trends of conductors with a strike length ranging from 400 meters to 7.1 kilometers. Depth reach of the conductorsvaries from 75 meter and to over 300 meters from surface

• Numerous moderate to high chargeability anomalies coincident with and flanking VTEM anomalies• The surface projection of these anomalies coincides with areas mapped by Western Atlas• The underlain structures yielded highly anomalous gold values at points• The results of Grid 3 highlights two crosscutting chargeability trends within an intense magnetic corridor• These chargeability trends are formed by a dominant northeastern trend tracking the regional geological trend, and asecond east-westerly trend crossing the dominant trend in the southwest portion of the survey area

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40

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64

60

00

64

80

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00

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7176000 7176000

7178000 7178000

7180000 7180000

7182000

Legend

0 1 2km

¯

Banded Iron Formation (BIF +/- Au)

Shear Zone (+/- Au)

IP Survey Grid Areas (Completed)

Airborne VTEM Plus (Completed)

Block B Survey Boundary

Waterbody

Topographic contour

Magnetic Lines (as identified by airborne magnetic survey)

Shear

Fault

DATE: SEPTEMBER, 2018

SCALE: AS SHOWN

PROJECTION: UTM ZONE 14/15, NAD 83

DRAWN BY: AMANDA TUCK

BLOCK B - TARGET B1 Apparent Chargeability (mV/V) with

Geology

Western Atlas Resources Inc. Meadowbank Area Project

Nunavut Territory, CanadaGRID 1

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7178000 7178000

GRID 2

GRID 3

GRID 1 GRID 2

0 0.5 1Km

0 0.5 1Km

2017-2018 Grab Samples

Au (g/t)!( 0.015 - 0.050

!( 0.051 - 0.100

!( 0.101 - 1.000

!( 1.001 - 2.500

!( 2.501 - 100.000

13.3

1.02

0.68

2.06

5.65

0.63

0.6813.3

1.02

6.89

0.87

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64

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40

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64

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7180000 7180000

GRID 3

0 0.5 1Km

2.8

3.4

4.0

4.6

5.1

5.7

6.3

6.9

7.5

8.1

8.6

9.2

9.8

10.4

11.0

11.6

12.2

12.7

13.3

13.9

14.5

15.1

15.7

16.2

16.8

17.4

18.0

18.6

19.2

19.7

20.3

20.9

21.5

22.1

22.7

23.2

23.8

24.4

mV/VGrid 3

15.4

15.8

16.2

16.5

16.9

17.3

17.7

18.1

18.5

18.8

19.2

19.6

20.0

20.4

20.8

21.2

21.5

21.9

22.3

22.7

23.1

23.5

23.8

24.2

24.6

25.0

25.4

25.8

26.2

26.5

26.9

27.3

27.7

28.1

28.5

28.8

29.2

29.6

mV/VGrid 1

15.6

16.3

16.9

17.6

18.2

18.8

19.5

20.1

20.8

21.4

22.1

22.7

23.3

24.0

24.6

25.3

25.9

26.5

27.2

27.8

28.5

29.1

29.7

30.4

31.0

31.7

32.3

32.9

33.6

34.2

34.9

35.5

36.2

36.8

37.4

38.1

38.7

39.4

mV/VGrid 2

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14The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - Exploration Block A Western Atlas Resources

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6340

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636000

6360

007230000 7230000

7232000 7232000

7234000 7234000

7236000 7236000

7238000 7238000

7240000 7240000

Legend

0 1 2km

¯

Outcrops

2017-2018 Grab SamplesAu (g/t)

!( <0.015!( 0.015 - 0.050

!( 0.051 - 0.100

!( 0.101 - 1.000

!( 1.001 - 2.500

!( >2.500

BIF DBQFP

SLT UV FV MV QZQW GN

Cover

Banded Iron Formation (BIF +/- Au)

Shear Zone (+/-Au)

Diabase

Quartz-Feldspar Porphyry (QFP)

Shale/Slate (SLT)

Ultramafic Volcanics (UV)

Felsic Volcanics (FV)

Mafic Volcanics (MV)

Quartzite (QZ)

Greywacke (GW)

Granite (GN)

GeologyAirborne VTEM Plus (Completed)

Block A Boundary

Magnetic Lines (as identified by airborne magnetic survey)

Shear

Fault

(( Thrust Fault

Road

0.963

3.74

4.100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00110.00110.00110.00110.00110.00120.00120.00120.00130.00130.00140.00150.00150.00160.00170.00190.00200.00220.00240.00280.00330.0047

B-Field 0.440 ms(pV*ms)/(A*m^4)

633000

633500

634000

634500

635000

635500

636000

636500

7236000

7236500

7237000

7237500

0.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00100.00110.00110.00110.00110.00110.00120.00120.00120.00130.00130.00140.00150.00150.00160.00170.00190.00200.00220.00240.00280.00330.0047

B-Field 0.440 ms(pV*ms)/(A*m^4)

0 0.5 1km

0 0.5 1km

0.963

Block A – Target A1 – VTEM Results with Geology

Block A – Target A1 – VTEM Results

DATE: DECEMBER, 2018

SCALE: AS SHOWN

PROJECTION: UTM ZONE 14/15, NAD 83

DRAWN BY: AMANDA TUCK

Western Atlas Resources Inc. Meadowbank Area Project

Nunavut Territory, Canada

BLOCK A VTEM Results with Geology

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15The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - Exploration Block C Western Atlas Resources

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630000

631000

632000

633000

634000

635000

636000

637000

7165000

7166000

7167000

7168000

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6160

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618000

6180

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620000

6200

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622000

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624000

6240

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626000

6260

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628000

6280

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630000

6300

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632000

6320

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634000

6340

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6360

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7152000

7154000 7154000

7156000 7156000

7158000 7158000

7160000 7160000

7162000 7162000

7164000 7164000

7166000 7166000

7168000 7168000

7170000 7170000

Legend

0 1 2km

¯

Outcrops

2017-2018 Grab SamplesAu (g/t)

!( <0.015!( 0.015 - 0.050

!( 0.051 - 0.100

!( 0.101 - 1.000

!( 1.001 - 2.500

!( >2.500

BIF DBQFP

SLT UV FV MV QZQW GN

Cover

Banded Iron Formation (BIF +/- Au)

Shear Zone (+/-Au)

Diabase

Quartz-Feldspar Porphyry (QFP)

Shale/Slate (SLT)

Ultramafic Volcanics (UV)

Felsic Volcanics (FV)

Mafic Volcanics (MV)

Quartzite (QZ)

Greywacke (GW)

Granite (GN)

GeologyAirborne VTEM Plus (Completed)

Block C Boundary

Magnetic Lines (as identified by airborne magnetic survey)

Shear

Fault

(( Thrust Fault

Road

!( !(

!(

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!(

!(

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!(

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625000

626000

627000

628000

629000

630000

631000

632000

7163000

7164000

7165000

7166000

7167000

0 1 2km

0 1 2km

Block C – Target C1 – VTEM Results with Geology

Block C – Target C2 – VTEM Results with Geology

0.01090.03390.04860.05950.06740.07460.08060.08600.09140.09690.10240.10820.11410.12000.12630.13240.13880.14650.15430.16270.17320.18710.20520.23610.29220.40720.63991.01051.58892.30972.97763.48694.25735.18386.39657.78429.339511.2078

dB/dt 0.073 mspV/(A*m^4)

0.01090.03390.04860.05950.06740.07460.08060.08600.09140.09690.10240.10820.11410.12000.12630.13240.13880.14650.15430.16270.17320.18710.20520.23610.29220.40720.63991.01051.58892.30972.97763.48694.25735.18386.39657.78429.339511.2078

dB/dt 0.073 mspV/(A*m^4)

DATE: DECEMBER, 2018

SCALE: AS SHOWN

PROJECTION: UTM ZONE 14/15, NAD 83

DRAWN BY: AMANDA TUCK

Western Atlas Resources Inc. Meadowbank Area Project

Nunavut Territory, Canada

BLOCK C VTEM Results with Geology

Target C1Target C2

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Western Atlas Resources

The image part with relationship ID rId3 was not found in the file.

Appendix

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17The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - IP Survey, Block B Western Atlas Resources

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18The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - IP Survey, Block B Western AtlasResources

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19The image part with relationship ID rId3 was not found in the file.

Meadowbank Project - IP Survey, Block B Western Atlas Resources

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• Over 114 km2 of mineral claims along trend to Auryn Resources’s Three Bluffs deposit:

• Indicated resources of 524k oz/Au; Inferred resources of 720k oz/Au

• Exploration Fully permitted (inclusive drilling) - Land and Water use permits received

• In Jan 2017 Goldcorp invested approx. C$41M in Auryn Resources

Committee Bay Project Western Atlas Resources

Page 21: Western Atlas Resourceswesternar.com › ... › Western-Atlas-Resources-Corporate... · Roscoe Postle Associates Inc. (RPA) was retained by Western Atlas Resources Inc. to prepare

Western Atlas Resources Inc.

(TSX-V: WA)

1700 - 666 Burrard StreetVancouver, BC V6C 2X8, Canada

www.westernar.comemail: [email protected]

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