Long Canyon Trend, Nevada and Utah

Transcription

1 TSX.V: WKM April 2013 Long Canyon Trend, Nevada and Utah TUG Deposit, Utah Facing northwest, on-strike This presentation has been prepared by West Kirkland Mining Inc. ( West Kirkland WKM or the Company ). Information included in this presentation regarding the Company s mineral properties has been compiled by R. Michael Jones, P.Eng, the President and Chief Executive Officer of the Company, and a non-independent Qualified Person for purposes of National Instrument Standards of Disclosure for Mineral Projects ( NI ), based on the independent technical reports, and Press Release Information filed by the Company with the Canadian securities regulators. For more detailed information regarding the Company and its mineral properties, you should refer to the Company s independent technical reports and other filings with the Canadian securities regulators, which are available at Scientific or Technical information contained herein is derived from the Company s technical reports which include more detailed information with respect to the Company s properties, including the dates of such reports and the estimates included therein, details of quality and grade of each resource, details of the key assumptions, methods and parameters used in the resource estimates, a general discussion of the extent to which the resource estimates and the other estimates and projections included in the reports may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. Information included in this presentation, the Company s independent technical reports and the Company s other public statements related to its mineral properties has been prepared in accordance with securities laws in effect in Canada. This presentation also contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This presentation is not an offer to sell, or a solicitation to buy, any securities in any jurisdiction. The Toronto Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by the Company. Historical results presented herein are not guarantees or expectations of future performance. Certain of the statements made herein, including statements regarding the timing of future activities and achievements by the Company, future anticipated exploration and development programs, business plans, potential mining scenarios and timing of production, business trends and future operating factors and anticipated supply and deficits, are forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Company s ability to control or predict. In addition, technical results constitute forward-looking statements to the extent that they represent, respectively, estimates of mineralization that may be encountered upon additional exploration and estimates of the capital and operating expenses, metals and currency prices and other operating conditions that may be encountered in the future. Forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, among others: metals price volatility; demand and supply; additional fundraising requirements; defective title to mineral claims or property; discrepancies between actual and estimated reserves and resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; changes in national and local government legislation (including environmental legislation), taxation, controls, regulations and political or economic developments in Canada, or other countries in which the Company does or may carry out business in the future; success of exploration activities and permitting time lines; the speculative nature of mineral exploration, development and mining, including the risks of obtaining necessary licenses and permits; dilution; competition; currency fluctuations; and loss of key employees. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, mine collapses, cave-ins or flooding (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks). The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Notice to US investors: This presentation uses the terms inferred mineral resources. We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them. Inferred mineral resources have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute reserves as in-place tonnage and grade without reference to unit measures. The terms contained gold ounces and contained 2 silver ounces used in this press release are not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable.

2 Proven management team using Ruler-Line strategy COMPANY NEIGHBOUR/S MARKET CAP Platinum Group Metals MAG Silver Anglo American, Platmin, Lonmin, others 2001 $9.5 M $550 Million 2013 Penoles/Fresnillo West Timmins Mining Lake Shore Gold West Kirkland Mining Newmont, Agnico-Eagle 2003 $11.5 M $585 Million $24 M $424 Million $12.5 M OPPORTUNITY! Mines and Money -Discovery of the Year R. Michael Jones and Frank Hallam, for Platinum Group Metals Waterberg Project in South Africa: 10 M/oz 3E resource WBJV Project: Production starts in 2014 Approx. 4 M/oz 4E reserve, 275,000 oz Year 20+ mine life 4

3 The Long Canyon Trend Recent Paradigm Shift : 2.2 M oz Au Long Canyon Deposit New geological pull-apart structure Newmont acquires Long Canyon Deposit for $2.3 Billion in 2010 Newmont continues to expand deposit, drill on adjacent ground WKM consolidates 1,000 2 kilometers in the Trend WKM TUG deposit, Utah now at PEA stage WKM plans for additional 8,000 meters of drilling in high priority exploration targets in ,100 meters completed by April 2013, assays pending Declining: Large (+5 M oz) GOLD Discoveries World Wide # of Discoveries Source: Pierre Lassonde, Intierra, Barrick 6

4 Share Structure (As of March 15, 2013) ISSUED & OUTSTANDING: Common Shares: 60,293,336 Institutions (estimate) 57% 34,400,000 (Wexford 19.8%) (Newmont 9.6%) Management (escrowed: 918,000) 11.5% 6,931,575 Public float (estimate) 31.5% 19,000,000 WARRANTS & OPTIONS: Warrants: ($0.60to Jan. 20, 2014) ($0.40 to Feb. 7, 2014) 2,414,301 22,400,000 Stock Options: ($0.20 to $1.10) 2,095,000 FULLY DILUTED: 87,202, Corporate Management Board of Directors R. Michael Jones, B.Sc., P.Eng., Director, President & CEO President, Director and CEO of Platinum Group Metals. Co-founder of West Timmins Mining purchased by Lake Shore Gold Corp. in Co-founder of MAG Silver Corp. Founder of Glimmer Resources. Founder of companies that have discovered four mines, including two gold mines in the Kirkland Lake Timmins area. Frank Hallam, BBA, CA, Director, CFO & Corporate Secretary Founder of New Millennium Metals Corp. -amalgamated with Platinum Group Metals Ltd., where he currently serves as a director and CFO. Co-founder and Director of MAG Silver Corp. Director of Lake Shore Gold Corp. Pierre Lebel, MBA, LLB, Director Chairman of Imperial Metals Corporation since 2003, prior President from Extensive experience in managing public companies serving as a director of a number of public companies during his career. Eric Carlson, B.Comm.,CA Director Over 17 years of real estate investment, development, and management experience. President and CEO of Anthem Properties Corp. since July Director of MAG Silver Corp. and Platinum Group Metals John S. Brock, B.Sc., Director Over 40 years of service in an executive role with 20 public junior companies. Through these companies under his management he has participated in 12 major mineral deposit discoveries worldwide. 8

5 Management Local Gold Discovery Track Record WKM s management has discovery track record of several large-scale gold mines in the districts where we are currently exploring. Our exploration managers are established and live in the gold districts where we operate R. Michael Jones, B. Sc., P.Eng Director, President & CEO Michael G. Allen, P. Geo. VP Exploration A broad range of experience from grass roots exploration to underground development and mine construction management in multiple deposit types and jurisdictions. Work history includes DeBeers Canada, Rubicon Minerals, and Taseko Mines. Sandy McVey, P. Eng. PMP, M.Sc. Chief Operating Officer 30 years experience in mine management of underground and surface mines and project management of mine and heavy civil construction in Canada, USA, and Africa. Recent experience includes planning and building Shafter Silver Mine, TX. Rich Histed, BA Geo. Manager, USA 30 years experience in exploration of precious metals and other commodities with Homestake Mining, Barrick Exploration USA, Golden Star Resources, North Mining and Reunion Gold. Nevada experience includes resource definition at Archimedes and belt-scale exploration for Barrick. Knox Henderson, Manager, Investor Relations 20 years experience in investor relations and corporate communications. A journalism graduate with his Canadian Securities Course, formerly a trader on the Canadian equities markets. 9 USA Operations Nevada Utah Inset Map Nevada 10

6 Significant Land Position in Proven Gold Belts Significant Land Position in Proven Gold Belts Nevada-1,200 km 2 Newmont Earn-in (Fronteer Gold, 11 Properties) 234 km 2 December 16, 2010 WKM can earn up to 51% in all 11 properties by spending $15,400,000 over four years $2,000,000 in year one, $3,000,000 in year two (completed) After year two, WKM can allow projects to drop off and continue earn-ins on project-specific basis WKM can increase interest to 60% with aggregate spend on any property (including TUG) of $4,000,000 or a Prefeasibility on specific projects TUG as of March. 2013: $3,400,000 spent ($1,800,000 for 51%), additional $600,000 for WKM to earn 60% (April 2013) 11 Significant Land Position in Proven Gold Belts Rubicon Earn-in -952 km 2 June 27, 2011 WKM can earn 51% in portion of property across the valley north east of the Long Canyon Deposit by spending $15,000,000 in 4 years WKM has completed the first year s expenditure, Phase 1 drilling completed WKM can increase earn up to 60% interest in Class A properties with additional $4,000,000 or a Prefeasibility study Annual Period Annual Minimum of Exploration and Development Expenses 1 st year $2,000,000 (completed) $2,000,000 2 nd year $3,000,000 (due Dec. 31, 2013) $5,000,000 3 rd year $5,000,000 (due Dec. 31, 2014) $10,000,000 4 th year $5,000,000 (due Dec. 31, 2015) $15,000,000 Aggregate Exploration and Development Expenses 12

7 Nevada Long Canyon 60% WKM 40% Rubicon Bandito KB TUG 60% WKM 40% Newmont, Others 20 Km 10 Mi Lewis Spring Newmont Mineral Interests 51% WKM 25% Newmont 24% Rubicon Toano Utah 60% WKM, 40% RMX 51% WKM, 25% NMC, 24% RMX Long Canyon Gold Deposit 60% WKM, 40% NMC, Others Other WKM/RMX Mineral Interests 13 Newmont Mineral Interests 13 TUG Resource Cut-Off Tonnes 1 Au g/t Ag g/t AuEq g/t Au Ounces Ag Ounces AuEq 2 Ounces *0.1 27,110, ,400 13,844, , ,350, ,400 7,331, ,400 1 Reported at a cut-off grade of 0.1 g/t Au. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 2 AuEq was calculated assuming 100% metal recovery using a metal price ratio between Ag and Au (Ag:Au)= (AuEq= Au+(Ag*0.018) * Base case reported at a cut-off of 0.1 g/t Au Resource estimate completed by Jason Baker, P. Eng of Carcle Creek, May 29, 2012 an independent qualified person as defined by NI Resources do not have demonstrated economic viability See detailed NI report to be filed on SEDAR These figures are not to be misconstrued as mineral resource as they are intended for the sole purpose of demonstrating the sensitivity of the resource estimate with respect to reporting cut-off grade. 14

8 TUG Deposit TUG Mineralization 875 Meters Ground level 150 Meters 15 TUG Comparables (g/t) (x:1) Source: Company records, rounded figures, includes inferred Au to Ag ratio of 1:55 16

9 TUG Advantages At and near surface gold, all oxide Well drilled deposit, 400+ holes Good metallurgical database Straight forward permitting (no federal land), quick timeline No initial stripping, low overall strip ratio (estimate 2:1) Excellent infrastructure (grid power, water, highway) 17 TUG The Next Steps Metallurgical test work program in Q1-Q In-pit Mineral Resource Estimate Q1-Q Preliminary Economic Assessment Q1-Q Permitting Q1-Q Board decision to fund mine construction Q

10 TUG Timeline of Activities 19 TUG Conceptual Surface Layout 20

11 Utah: Utah: a mining A mining friendly friendly jurisdiction jurisdiction UTAH TOTAL * Source: 2011/2012 Fraser Institute Survey of Mining Companies (93 global jurisdictions ranked) 21 District Scale Targets KB TUG Deposit N Lewis Spring Bandito TUG High Au in Stream Sediments Patterson Pass 16 Km to Long Canyon Deposit Toano 60% WKM, 40% RMX 51% WKM, 25% NMC, 24% RMX 2 Miles 60% WKM, 40% NMC, Others Newmont Mineral Interests 22

12 Exploration Targets: Near and Like TUG Start Point Located 10 km west of TUG TUG Possible additional feed to TUG operation Action Drilled 7 holes in 2012, TUG equivalent grades encountered at shallow depths Only southern eastern corner of property explored to date Utah Additional targets along strike 7 holes drilled in March 2013, assays pending Long Canyon Gold Deposit 23 Utah Geology Geology TUG Deposit TUG Deposit TUG TUG 5 Kms 5 Kms Area Enlarged 24

13 Drill Results Hole ID From (m) To (m) Length (m) Au g/t Ag g/t 12M and and M and and M including M including Nevada - Lewis Spring KB Start Point 53 Km 2 stream anomaly Bandito WKM Work Lewis Spring TUG WKM 5,552 soils Detailed mapping Staking of additional km 2 Newmont airborne survey Elevated Gold In Streams Results and Plans Multiple soil anomalies, over kilometers up to 1.1 g/t Au in soils Detailed drill targets Permits received, pads constructed 7 holes drilled March 2013, assays pending Long Canyon Gold Deposit Toano Utah 26

14 TUG 12 Mile Geology Lewis Spring Geology TUG Deposit 1.1 g/t Au in soil Area Enlarged Elevated Gold In Streams 5 Kms 27 Nevada Regional Targets: Bandito KB Bandito Start point Previous work identified several major structures with associated Au & As in unfavourable host rock Previous drilling did not test underlying Diamond Peak / Guilmette contact Numerous deposits in northeastern Nevada are hosted at upper contact of Guilmette Structural corridor 80m x 450m, with up to 10 g/t Au in rock TUG Lewis Spring Action WKM to test structure and contact at depth 4 holes drilled in March 2013, assays pending Long Canyon Gold Deposit Toano 28

15 Bandito Area Drilling Bandito Plan View g/t Au 29 WKM Summary Proven strategy and team in the Long Canyon Trend Long Canyon Trend demonstrated large scale potential (Newmont takeover of Fronteer) Solid value with gold resource defined and engineering advancing Multi target drilling now on 1,000 km 2 land position Great upside potential for investors 30

16 For More Information R. Michael Jones Michael G. Allen President & CEO VP, Exploration Office: Office: Knox Henderson Investor Relations Office: Updated: 13/04/04 31