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Corporate Presentation for Lakeland Resources Inc. as of September 2013. "Building a Premier Uranium Explorer in Canada's Athabasca Basin"
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SEPTEMBER 2013 / TSXv: LK / FSE: 6LL / lakelandresources.com / @LakelandRes!
TSXv:LK / FSE: 6LL / lakelandresources.com / @LakelandRes!
Disclaimer: This Presenta,on has been prepared by Lakeland Resources Inc. (“Lakeland”) using its best efforts to realis,cally and factually present the informa,on contained. However, subjec,ve opinion, dependence upon factors outside Lakeland’s control and outside informa,on sources unavoidably dictate that Lakeland cannot warrant the informa,on contained to be exhaus,ve, complete or sufficient. In addi,on, many factors can affect the Presenta,on which could significantly alter the results intended by Lakeland, rendering the Presenta,on unaKainable or substan,ally altered. Therefore, interested Users should conduct their own assessment and consult with their own professional advisors prior to making any investment decisions. This Presenta,on does not cons,tute a prospectus or public offering for financing, and no guarantees are made or implied with regard to the success of Lakeland’s proposed ventures. Interested investors are advised to seek advice from their investment advisors. Technical informa,on has been prepared in accordance with the Canadian regulatory requirements set out in Na,onal Instrument 43-‐101 and reviewed on behalf of the Company by Neil McCallum P.Geo. of Dahrouge Geological Consul,ng Ltd., a Qualified Person.
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Lakeland Resources Inc. is a newly formed pure play uranium explora,on company focused on the Athabasca Basin in Saskatchewan, Canada.
About Lakeland
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The Athabasca Basin The World’s Most Prolific Uranium Area. Why? 1. High Grades: in excess of 20% uranium (compared to the global average of 0.14%) 2. Infrastructure 3. Very low geopoli,cal risk Post Fukushima: Rio Tinto Spent $654M to get into the Basin New discoveries Eg. Pa5erson Lake South (Fission and Alpha) and Phoenix (Denison) are bringing investor interest into the Basin
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Investment Highlights
Team with technical and capital markets strength Building solid asset base, large scale presence in the Basin Low shares outstanding with high insider ownership Fieldwork planned for Q4 2013; explora,on drilling in Q1 2014 Startup valua,on Strong interest and market fundamentals for uranium
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Advisory Board Members Mr. Richard Kusmirski, M.Sc., P.Geo Experienced Uranium Geoscien2st Mr. Richard Kusmirski has over 40 years of explora,on experience in North America and overseas, and has ac,vely par,cipated in the discovery of a number of uranium, gold and base metal deposits. For several years, in his capacity as Explora,on Manager, he directed Cameco Corpora,on’s (TSX: CCO) uranium explora,on projects in the Athabasca Basin. In 1999, Rick joined JNR Resources Inc. becoming Vice President of Explora,on in 2000. Subsequently, he directed the explora,on program that led to the discovery of the Maverick Zone on the Moore Lake uranium joint venture in the Athabasca Basin with partner KennecoK Canada. Rick became JNR's President and CEO in January of 2001. In February of 2013, Denison Mines Corp. (TSX: DML) successfully acquired all of the outstanding shares of JNR by way of a friendly all-‐share take-‐over bid.
Mr. Thomas Drolet B.Eng., M.Sc., DIC Nuclear Energy and Uranium Industry Specialist Mr. Thomas Drolet is a uranium and nuclear industry specialist and principal of energy consultancy Drolet & Associates Energy Services Inc. Mr. Drolet has had a 40+ year career in the energy sector, where he spent 26 years with Ontario Hydro in various engineering, research and opera,ons func,ons. He formed and headed Canada's Research and Development program into Fusion (CFFTP) in 1982 and then moved into Interna,onal Commercial work with Ontario Hydro Interna,onal, where he was named President and CEO in 1993. Mr. Drolet was then appointed Managing Director of American Electric Power Canada, and President of Canadian Energy Opportuni,es, Inc. where he was involved in mergers, acquisi,ons and other consul,ng ac,vi,es in the Canadian and US power sectors. Mr. Drolet earned a Bachelor's Degree in chemical engineering from Royal Military College of Canada, a Master's of Science degree in nuclear technology/chemical engineering and a DIC from Imperial College, University of London, England. He is a frequent guest and keynote speaker on nuclear energy at global conferences.
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Geological Consultants
Dahrouge Geological ConsulMng Ltd. • Ac,ve in the Athabasca Basin since early 2000 • Uranium explora,on team led by Jody Dahrouge, B.Sc.
P.Geol. and Neil McCallum, B.Sc. P.Geol. • Experience with uranium discoveries at Waterbury Lake
and PaKerson Lake South amongst other proper,es • Excellent network of prospectors, geophysical consultants
and explora,on support contractors
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Corporate Structure Shares Outstanding: 29.4 million Op,ons: 2.2 million Warrants: 7.0 million Fully Diluted: 38.6 million
Major Shareholders: Management, founders and insiders: 25% Zimtu Capital Corp.: 15% Market Cap: C$3.8 M Cash: ~$750k Management Team & Board: Jonathan Armes -‐ President, CEO & Director Alex Falconer, C.A. -‐ CFO & Director Garry Clark, P.Geo -‐ Director Ryan Fletcher, B.A. -‐ Director David Hodge -‐ Director
(as at Sep 4 2013)
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Why Uranium? Electricity demand to grow 76% by 2030. The number of nuclear reactors is rising to meet it 432 reactors are in opera,on world-‐wide 546 new reactors (316 proposed, 162 planned,68 under construc,on) China, Russia, India and USA are primary drivers
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Uranium: Supply/Demand Dynamics A supply shortage post 2013-‐14:
• Primary supply capacity will have to increase by approximately +90Mlb U3O8 by 2020 (7 years from now) to meet demand requirements. • In previous 8 year period (2003 – 2011), produc,on increased by 48Mlb, but Kazakhstan accounted for 42Mlb (going forward there is not another Kazatomprom to contribute such growth)
Source: Paladin Energy Ltd.
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Uranium: Pricing One of the Best Commodity Price Outlooks
(1) Consensus Forecast: Argonaut July 2012
Key Commodity Price Performance (3 Year Horizon)
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Uranium Market Catalysts 2013/14 Three Key Catalysts: Increased Chinese buying and unparalleled nuclear build in emerging economies Restart of Japanese reactors End of Russian HEU “Megatons to MegawaKs” Agreement (end-‐2013)
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Athabasca Basin Uranium Our Explora,on Strategy LocaMon Saskatchewan is a favorable mining jurisdic,on Projects at or near shallow basin margins (0 to 400-‐m depth) Geology Athabasca Basin unconformity deposits are the highest
grade deposits worldwide Deposits associated with altera,on, conductors, and
radioac,vity; oyen in structurally complex environments ExploraMon Shallow targets with low(er) drilling and explora,on costs Projects are selected based on a review of historic explora,on Geophysics
• Electromagne,cs, IP/Resis,vity, Magne,cs, Radiometrics, and Gravity
Geochemistry • Arsenic, Boron, Nickel, Radon etc. • Uranium
Altera,on Mineralogy
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Athabasca Basin Uranium PROJECT PORTFOLIO Nine projects held 100% Northern Athabasca Basin • *South Pine • *Riou Lake • *Otherside • Circle Lake
Northeast Athabasca Basin • *Perch • Hawkrock • Small Lake
Eastern Athabasca Basin • Jasper • Richmond
*Priority Projects for 2013/14
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Ownership: 100% Lakeland Total Property Package Size: 45,285 hectares • Property package spans ~80km between Fond du Lac and Stony Rapids – excellent infrastructure, easy to explore
• Benefits from $3M+ of archived explora,on (airborne gravity/MEGATEM, etc.) completed by UEX Corp. since 2005 -‐ iden3fied targets that remain to be tested
• Mul,ple targets (Gibbon’s Creek, South Pine, Otherside) iden,fied benefit from shallow depths to unconformity -‐ lower costs and higher success rates for explora3on, be:er economics for discoveries
Focus: North Basin Proper,es Riou Lake, South Pine and Otherside
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Regional Se{ng
Importance of the con,nental scale SNOWBIRD TECTONIC ZONE
• Associated with several uranium deposits and showings
• Eg. Nisto, Dufferin, and Centennial (Cameco & Areva)
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Regional Se{ng Other fault splays to the west are likely areas to find addi,onal uranium mineraliza,on:
Grease River Fault Zone → Fond-‐du Lac Deposit PlaK Creek Fault → Black Lake Zone Complex magne,c se{ng suggests the poten,al for many fault zones not yet iden,fied
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Poten,al of Area Demonstrated by:
Uracan/UEX Corp. Black Lake Project: • UEX Corp. recently (Jan 2013) op,oned 60% to Uracan for C$10.0 million in explora,on over 10 years
• DDH BL-‐018: 0.69% U3O8 over 4.4 metres, including 1.96% U3O8 over 0.50 m
UEX Corp. Riou Lake Project: • Radioac,ve boulders in glacial ,ll on the property with up to 11.3% uranium; source s,ll to be iden,fied
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Gibbon’s Creek Target Drilling on the target was conducted for the most part by Eldorado Nuclear in the 1977-‐1979 period.
• An area with elevated uranium near the unconformity occurs near a gravity low and conduc,ve zone:
-‐DDH GC-‐15: 0.18% U3O8 over 0.13 m -‐Several anomalous intersects -‐Very strong altera,on in sandstone and basement
• Easy access near winter highway • Shallow: 100 metres to unconformity
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South Pine Target
• 17 historic drill holes -‐DDH PC81-‐2: 0.15% U3O8 over 0.13 m -‐Several anomalous intersects • 2.5 kilometre long conductor • Shallow: 70 metres to unconformity • Easy access along winter highway • Not followed up since discovery in 1981
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2013/14 Timeline
Q4 2013
Ground work to refine drilling targets at Riou Lake (Gibbon’s Creek) & South Pine
RadonEx, Ground Magne2c and IP Surveys, Boulder Sampling & Prospec2ng
Q1 2014
Explora,on drilling at Gibbon’s Creek
The company also con,nues to review and generate opportuni,es for acquisi,on/staking.
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Secondary Property: Perch Lake • Straddles the northeastern edge of the Athabasca Basin • 4 kilometre long basement conduc,ve trend iden,fied by a 2007 VTEM survey • Unexplained uranium radiometric anomaly, iden,fied by a 2010 regional Geological Survey of Canada survey, lies directly on the northern por,on of the conduc,ve trend and is priority for immediate follow-‐up • Reconnaissance prospec,ng, mapping, and sampling proposed
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Upcoming Share Catalysts
Commencement of Explora,on
Results from RadonEx Survey and Boulder Sampling
Explora,on Drilling
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Key Market Comparables Athabasca Basin Uranium Explorers Company Shares Outstanding Recent Trading Price Market Cap.
Fission Uranium Corp. (TSXv: FCU) 151.2 M $1.26 $190 M
Alpha Minerals Inc. (TSXv: AMW) 22.8 M $7.10 $190 M
NexGen Energy Ltd. (TSXv: NXE) 113.7 M $0.51 $58 M
Forum Uranium Corp. (TSXv: FDC) 19.0 M $0.38 $7.1 M
Azincourt Resources Inc. (TSXv: AAZ) 27.5 M $0.24 $6.5 M
Lakeland Resources Inc. (TSXv: LK) 29.4 M $0.13 $3.8 M
*As at September 2013
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Closing -‐ Lakeland Resources Inc. Strong Fundamental Outlook for Uranium
• Global demand for electricity is set to grow 70%+ by 2030 • 432 reactors in opera,on; 546 new reactors under construc,on, planned or proposed • Supply/demand imbalance post 2013-‐14
Experienced Advisors and Team • Extensive experience in uranium explora,on & resource finance
Favourable Share Structure • Excellent leverage to explora,on success with only 29 M shares outstanding
Significant Porcolio of Uranium ExploraMon ProperMes • Riou Lake (Gibbon’s Creek) & South Pine Proper,es ini,al priority focus for drilling • Total por}olio of nine projects encompassing 100,000+ hectares • All projects benefit from substan,al historic explora,on data and expenditures • All projects have the geologic characteris,cs amenable to a major uranium discovery • Fieldwork planned for Q4 2013; explora,on drilling in Q1 2014
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Make Contact
Lakeland Resources Inc. Phone: 604.681.1568 Toll Free: 1.877.377.6222 Email: [email protected] Web: www.lakelandresources.com Roger Leschuk, Corporate Communica,ons Phone: 604.681.1568 Email: [email protected]
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