Discovery in the Prolific Copper and Gold Belts of Eastern Europe Fall 2018 www.blacksea.ca TSX.V: BLS OTCQB: BLSSF
Forward Looking Statements This presentation may include certain forward looking information within the meaning of applicable Canadian laws concerning the future performance of our business, its operations and its financial performance and condition, as well as management s objectives, strategies, beliefs and intentions. Forward lookingstatements are statementsthat are not historicalfacts and are generally, but not always,identifiedbythewords expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Forward looking information is based on the current opinions and expectations of management. All forward looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, changes in exchange rates, competitive risks, changes in project parameters as plans continue to be refined and the availability of financing, all as described in detail in our recent securities filings available at www.sedar.com. Therecanbeno assurance that forward looking information will prove to be accurate and actual events or results may differ materially from those projected in the forward looking information and we caution against placing undue reliance thereon. Except as required by law, Black Sea undertakes no obligation to update these forward looking statements in the event that management s beliefs, estimates or opinions, or other factors, should change. Technical aspects of this presentation have been reviewed and approved by Rory Kutluoglu, B.Sc. P.Geo., hereby designated as a Qualified Person under National Instrument 43 101. 2
Leadership Team MANAGEMENT & TECHNICAL TEAM Vince Sorace President, CEO & Director Mr. Sorace is a mineral exploration and mining entrepreneur with over 25 years of international business and capital markets experience. Mr. Sorace has financed and led several resource companies with assets in the U.S., Canada and Europe, and has raised over $200M in equity and debt financings for public and private entities. Rob Duncan, M.Sc. Chief Operating Officer Mr. Duncan has over 26 years of experience in mineral exploration for major mining companies (Rio Tinto, Inmet Mining) and junior explorers. His experience, including senior management, covers generative exploration, project evaluations and joint venture negotiations. Rory Kutluoglu, B.Sc. P.Geo. VP of Exploration Mr. Kutluoglu has over a decade of mineral exploration experience in a wide variety of commodities across North America. He has held executive management roles in Canadian junior exploration companies spanning VP Exploration and Business Development. Nikolay Petrov, PhD Exploration Manager Dr. Petrov is an exploration geologist with 16 years of experience at all levels of the mineral exploration project pipeline and across a spectrum of commodities. From 2011 to 2016, Dr. Petrov was a senior geologist for First Quantum Minerals, prior to which he held exploration geologist roles at several major mining companies including Dundee Precious Metals, Newmont Mining and Ivanhoe Mines. Gavin Cooper, CA Chief Financial Officer Mr. Cooper is a Chartered Accountant with over 35 years of experience in all aspects of financial management and administration. He is an accomplished executive, who has experience with public and private companies operating in Canada and internationally. BOARD OF DIRECTORS John Williamson, B.Sc. P.Geo. Mr. Williamson is an entrepreneur with over 30 years of global experience, and has served as founder, chairman, president, CEO, CFO and director of 20 or more listed companies in Canada and Australia. Rod McKeen Mr. McKeen has over 30 years of legal experience acting for Canadian public companies with an international focus across 14 countries on 5 continents. James Yates Mr. Yates is an independent businessman, experienced in establishing and financing numerous public companies. He was the founder of Hycroft Resources & Development Corp., founding director of Alpha Exploration, and director of Nevada Geothermal. 3
Discovery in the Prolific Copper and Gold Belts of Eastern Europe Early mover in Bulgaria and the Black Sea region of Eastern Europe Competitive advantage gained through 4 years of regional targeting and over 2,600 km 2 of reconnaissance exploration Identified and acquired new Cu Au porphyry and epithermal targets within the West Tethyan Metallogenic Belt Ongoing exploration to advance multiple projects and pipeline
Mission: To rapidly grow and advance a successful portfolio of projects in the West Tethyan Metallogenic Belt of Eastern Europe through discovery, acquisitions and partnerships Focused on the emerging Black Sea region of Eastern Europe Highly prospective metallogenic belt is host to world class copper and gold deposits Under explored areas with outcropping mineralization exist on open ground Minimal competition; ability to stake open ground for 100% interest Low exploration and acquisition costs with nearby infrastructure Recent EU membership countries or EU candidate status
Projects Overview Target Selection Criteria Proximal to significant deposits and mines Large alteration footprint High grade potential Bulgaria Zlatusha license Issued Kalabak license issued 6
Zlatusha, Bulgaria
Zlatusha Targets Multiple porphyryepithermal Cu Au occurrences Zlatusha 65 km 8
Zlatusha Rosoman Target Highlights: Porphyry target area with telescoped epithermal potential Presence of anomalous Cu and Au Large alteration footprint Minimal exploration drilling QSP alteration 9
Zlatusha Radulovtsi Target Highlights: Porphyry copper gold target Copper oxide at surface 1.5 x 1.0 km alteration footprint QSP altered diorite porphyry, marbleized limestone Minimal exploration drilling Cu oxide in QSP altered diorite porphyry 10
Zlatusha Pozharevo Target Highlights: 7 shallow drill holes with elevated Cu and Au values Grab samples up to 8.31% Cu, 3.56 g/t Au Intense QSP and silica alteration over 600 m QSP alteration Cu oxide mineralization 11
Kalabak, Bulgaria
Kalabak Kalabak is situated ~10 km N of Ada Tepe epithermal gold deposit Porphyry style alteration zone detected in the Kalabak area during 2013 exploration Black Sea Aegean Sea 13
Kalabak, Bulgaria Epithermal Target Porphyry Epithermal Target Epithermal Target
Summary STRATEGIC FOCUS 100% owned projects with excellent potential for copper and gold discoveries Low exploration costs and acquisition costs Mining friendly jurisdictions EXPLORATION POTENTIAL Licensed and acquired key land positions near major deposits and mines Multiple porphyry epithermal style copper and gold occurrences Located within favourable geology with large alteration footprints STRONG TECHNICAL TEAM Extensive technical, finance and capital markets experience in global mineral exploration
Capital Structure Share Structure (June 19, 2018) Shares Issued 43,966,275 Warrants 1,995,834 Options 2,750,000 Ownership Structure 19% 57% 15% 9% Management & Directors Founders Friends & Family Retail 16
Discovery in the Prolific Copper and Gold Belts of Eastern Europe Suite 717 1030 West Georgia Street Vancouver, BC V6E 2Y3 T: +1 (604) 628 5623 E: info@blacksea.ca www.blacksea.ca