Corporate Presentation
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<strong>Corporate</strong> <strong>Presentation</strong><br />
June 2016
FORWARD<br />
The TSX Venture Exchange has not reviewed and does not accept responsibility for the<br />
adequacy or accuracy of this presentation. Statements in this presentation other than<br />
purely historical information, historical estimates should not be relied upon, including<br />
statements relating to the Company’s future plans and objectives or expected results, are<br />
forward-looking statements. This presentation contains certain "Forward-Looking<br />
Statements" within the meaning of Section 21E of the United States Securities Exchange<br />
Act of 1934, as amended. Forward-looking statements are based on numerous<br />
assumptions and are subject to all of the risks and uncertainties inherent in the<br />
Company’s business, including risks inherent in resource exploration and development.<br />
As a result, actual results might vary materially from those described in this presentation.<br />
Readers should verify any & all claims and do their due diligence before investing in any<br />
securities mentioned. Investing in securities is speculative and carries a high degree of<br />
risk.<br />
The technical information in this presentation was prepared under the supervisory<br />
authority of John Harrop, PGeo, FGS, a Qualified Person as defined by National<br />
Instrument 43-101 (“NI 43-101”) and Vice President of Exploration for TNR Gold Corp.<br />
TSX.V : TNR 2
TNR GOLD CORP.<br />
“Lead Project Generator”<br />
• Mineral Exploration:<br />
– Precious Metals and Base Metals<br />
– Strategic Focus on Rare Metals<br />
• Proven Business Model:<br />
– Early Identification and Acquisition of Mineral Prospects<br />
– Selectively Advance Projects Internally<br />
– Employ JV Partnerships to Diversify Costs and Risk<br />
– Maximum Value Achieved Over Minimum Period of Time<br />
• 66% Owned by Insiders and Management<br />
• Experienced Management Team<br />
TSX.V : TNR 3
SHARE STRUCTURE<br />
Trading Symbol:<br />
Shares Issued:<br />
Fully Diluted:<br />
TSX.V : TNR<br />
148 Million<br />
159 Million<br />
Management and Insiders: 66%<br />
Institutional Holdings: 14%<br />
Transfer Agent:<br />
Computershare<br />
TNR’S Market Cap = $6.6M (April 15, 2016)<br />
1. Is TNR undervalued?<br />
2. What is a realistic expected value?<br />
TSX.V : TNR 4
PROJECTS<br />
Shotgun Gold Project<br />
Alaska<br />
Head Office, Vancouver<br />
Los Azules, Argentina<br />
• World Class Cu-Au deposit<br />
• 0.36% NSR<br />
Shotgun Gold, Alaska<br />
• Porphyry deposit<br />
• Multi-million oz potential<br />
• Well defined mineralization<br />
model<br />
International Lithium Corp.<br />
• TNR spin out 2011<br />
• Strategic partner advancing<br />
two lithium projects<br />
• TNR holds 21.18% interest<br />
Los Azules Copper Project,<br />
San Juan, Argentina<br />
New commodity search ongoing<br />
TSX.V : TNR 5
TNR Gold’s Upside<br />
No need for immediate financing<br />
No need to roll back!<br />
Value Increase on the Horizon!<br />
1. Actively seeking purchaser for Los Azules asset<br />
LA sale will provide funds for Shotgun!<br />
2. Spin-out of Shotgun in the works<br />
3. ILC developing assets with strategic partner<br />
4. New ‘low entry cost’ projects generation underway (IM,<br />
Cu-Zn-Au)<br />
5. Large insider support (66%)<br />
TSX.V : TNR 6
Los Azules, San Juan, Argentina<br />
Recent Investments in Argentina show support for security of<br />
resource development<br />
• Yamana Gold investing $450M to<br />
develop Cerro Moro<br />
"I think to finally reach a friendly agreement on this<br />
contentious issue that has taken two years is extremely<br />
positive," said Antonio Brufau, Repsol's chairman.<br />
• Chevron investing $1.6B for shale oil<br />
and gas development<br />
• Repsol receives $5B compensation<br />
• Lumina Copper, Taca Taca sale $470M<br />
Source: McEwen Mining Inc.<br />
TSX.V : TNR 7
Los Azules<br />
Summary (1)<br />
• Los Azules ranks as one of the top 2 or 3 world class deposits that are “for<br />
sale” and in a low risk jurisdiction<br />
• TNR has a 0.36% NSR on the entire deposit and will get 1% of any purchase<br />
price paid to & received by McEwen in respect of any sale, assignment of<br />
transfer of all of its interest in the Project<br />
• Current resource using a cut-off grade of 0.35% Cu (2) :<br />
• Indicated - 389 million tonnes grading 0.63% Cu, 0.07 g/t Au and 1.8 g/t Ag<br />
• Inferred - 1.397 million tonnes grading 0.46% Cu, 0.06 g/t Au and 1.9 g/t Ag<br />
• Total contained copper is 8.93 Mt or > 19 B lb (+ 3.42 Moz gold and 108.7<br />
Moz silver credits)<br />
TSX.V : TNR 8<br />
(1) Resource estimates and economic analyses regarding the Los Azules project are derived directly from public information and technical<br />
reports provided by McEwen Mining Inc. The technical information is reportedly prepared and/or approved by qualified persons as<br />
defined under NI 43-101 standards for disclosure. TNR Gold Corp. has not engaged an independent qualified person to verify the<br />
technical disclosures provided by McEewn Mining Inc. Mineral resources are not mineral reserves and there is no guarantee that the<br />
resources reported herein will result in an economic mining scenario.<br />
(2) The mineral resources as reported by McEwen Mining can be found their press release dated May 15, 2013.
Los Azules – Location of Resources<br />
Long Section Through the Los Azules Deposit<br />
TSX.V : TNR 9
Los Azules – What It Might Be Worth<br />
Preliminary Economic Assesment, McEwen Mining<br />
McEwen’s press release of Sept 23, 2013 states that Los Azules has the<br />
potential to become one the largest, lowest cost copper mines in the world.<br />
PEA HIGHLIGHTS: CAPEX $3.9B<br />
AVERAGE COST $1.08/lb Cu<br />
LIFE OF MINE 35 years<br />
NOTE: Recent Las Bambas transaction works out to ~ 1.7 cents per in-situ lb of<br />
copper<br />
* See Appendix for conceptual value based on in-situ copper price and estimated costs to back in<br />
** Based on precedent transactions<br />
TSX.V : TNR 10
The Shotgun Project<br />
Gold in Alaskan Elephant Country<br />
90% ownership by TNR<br />
Located in SW Alaska near Donlin Gold<br />
and Pebble<br />
SHOTGUN<br />
Alaska is rising in terms of policy index<br />
according to the Fraser Institute’s “Annual<br />
survey of mining companies”<br />
Mineralization style is similar to Donlin<br />
Fort Knox<br />
Infrastructure development, community<br />
support and permitting process at Donlin<br />
will benefit Shotgun<br />
Donlin<br />
Shotgun<br />
Pogo<br />
Source: McEwen Mining Inc.<br />
Pebble<br />
TSX.V : TNR 11
Shotgun Ridge – Mineralized Intervals<br />
NE-Zone<br />
Mid-Zone<br />
SW-Zone<br />
22m of 2.86 g/t Au<br />
27.4m of 2.3 g/t Au<br />
18.4m of 2.03 g/t Au<br />
• 12-56 returns 242m of 1.25g/t Au over all three mineralized zones<br />
• 12-57 returns 209m of 1.02g/t Au over all three mineralized zones<br />
• 12-58 returns 46.55m of 1.14 g/t Au (hole ended prior to intersecting MID and NE-zones)<br />
TSX.V : TNR 12
Shotgun Ridge – ROOM TO GROW!<br />
A A’<br />
OPEN<br />
Mineralization not included in resource estimate.<br />
TSX.V : TNR 13
The Shotgun Project – Mineral Resource<br />
Inferred Mineral Resource, 2013*<br />
• 20,734,313 tonnes @ 1.06 g/t Au<br />
• 705,960 ounces Au<br />
• 0.5 g/t Au cut-off<br />
• Mineral resource is located from surface to a<br />
depth of 150m<br />
• Resource is located on a ridge, forming a<br />
topographic high<br />
• Mineralization appears to be uniform with littleto-no<br />
“nugget effect”<br />
• Mineralization in some drill holes not included in<br />
resource model<br />
• Mineralization appears to be open at depth, and<br />
along strike<br />
• Can add additional resources with future drilling<br />
* See final slide for a full description of the resource estimate.<br />
Mineralization not included<br />
in resource estimate.<br />
TSX.V : TNR 14
The Shotgun Project – Understanding Targets<br />
New undrilled targets have potential to host multi-million ozs of gold<br />
IP surveys and drilling cover a small portion of intrusive complex<br />
Area of current resource<br />
and drilling<br />
TSX.V : TNR 200 m<br />
15
25 km<br />
The Shotgun Project – Opportunity<br />
Camp Scale Opportunity<br />
• Shotgun Ridge is just one of multiple gold<br />
target areas<br />
• Gold mineralization identified at each<br />
prospect: Shot, King, and Winchester<br />
• This group of prospects forms a distinct<br />
gold district held 90% by TNR<br />
• Surface geochemistry identifies multiple<br />
gold anomalies with no known source<br />
• Poor outcrop limited prospecting efforts in<br />
the past<br />
• IP surveys can identify mineralized areas<br />
TSX.V : TNR 16
International Lithium Corp.<br />
TNR Gold holds 21.18% Equity Stake<br />
(ILC:TSX.V)<br />
In 2010 TNR identified and acquired<br />
a global portfolio of lithium projects.<br />
TNR created a company for the<br />
development of these Lithium<br />
resources internationally<br />
International Lithium Corp. was<br />
listed on May 24, 2011<br />
Head Office,<br />
Vancouver<br />
Mavis Li-REE,<br />
Raleigh Li, Ta<br />
Forgan Li-REE<br />
Ontario<br />
Avalonia Li,<br />
Ireland<br />
Market CAP: $24M<br />
Avalonia - $10M work plan funded<br />
by partner<br />
Mariana – Strategic partner fasttrack<br />
to production.<br />
TNR holds 1% NSR<br />
Mariana Li-K Brine Project,<br />
Salta, Argentina<br />
TSX.V : TNR 17
International Lithium Corp.<br />
TNR Gold holds 21.18% Equity Stake<br />
Mariana Lithium-Potash<br />
Brine, Argentina<br />
Strategic partner, Ganfeng Lithium<br />
looking to fast-track production of Liconcentrated<br />
brine<br />
Avalonia, Ireland<br />
Strategic partner, Ganfeng Lithium<br />
committed to spend $10M<br />
Forgan Lake, Ontario<br />
(ILC:TSX.V)<br />
Historic high grade channel samples<br />
Extensive soil geochem anomaly<br />
Drill ready targets<br />
Mavis Lake, Ontario<br />
Historic Resource<br />
Excellent location/infrastructure<br />
Actively seeking strategic partner<br />
Raleigh, Ontario<br />
Lithium / Tantalum project<br />
Excellent location/infrastructure<br />
Several main pegmatites and numerous<br />
smaller ones<br />
18
MANAGEMENT AND DIRECTORS<br />
Management<br />
• Gary Schellenberg, B.Sc. (Geol.), President, CEO<br />
• Jerry Bella, CGA, CFO<br />
• Roberto Lara, Managing Director (South America)<br />
• John Harrop, P.Geo, VP Exploration<br />
• Anthony Kovacs, COO<br />
• Dr. Frederick Breaks P.Geo, Special Adviser to Board<br />
Directors<br />
• Gary Schellenberg, B.Sc. (Geol.) – Executive Chairman of Board<br />
• Kirill Klip, MBA – Non-Executive Chairman of Board<br />
• Greg Johnson B.Sc.– Director<br />
• Paul Chung, B.Sc. (Geol.), MBA - Director<br />
TSX.V : TNR 19
TNR Gold’s Upside<br />
Los Azules<br />
1. No need for financing, sale of asset will fund Shotgun and<br />
new projects<br />
2. Potential value to be realized?<br />
Shotgun Gold<br />
1. Porphyry system = BIG potential resource<br />
2. Mineral system well understood<br />
3. Only one target tested = +700,000oz Au resource<br />
4. Room to grow!<br />
5. Plans to spin out to capture shareholder value<br />
International Lithium<br />
1. Developing assets with funding from strategic partner<br />
New projects generation (ahead of the curve)<br />
1. Critical and Strategic Minerals<br />
TSX.V : TNR 20
Contact Us Today<br />
JV Partnership<br />
Financing<br />
Project<br />
Submission<br />
Interested in our<br />
projects?<br />
Investment in TNR<br />
We welcome your inquiries<br />
Investor Relations hub<br />
http://www.tnrgoldcorp.com/s/StockInfo.asp<br />
Send us your<br />
projects!<br />
Info @ tnrgoldcorp.com<br />
Address P.O. Box 11604, 620 - 650 West Georgia St.<br />
Vancouver, British Columbia, V6B 4N9, Canada<br />
Caroline Klukowski<br />
Phone: 604-687-7551<br />
Fax: 604-687-4670<br />
ck@tnrgoldcorp.com<br />
21
“MORE THAN GOLD”<br />
Thank You<br />
22
The Shotgun Project<br />
The Pebble Controversy<br />
• The Shotgun Project straddles the Bristol Bay<br />
and Kuskokwim Recording District boundary<br />
• The Donlin Creek project is in the Kuskokwim<br />
Recording District<br />
(“Donlin Gold enjoys broad support from both the Government of Alaska<br />
and the Alaska Native Corporations who are important participants in the<br />
project.” Novagold website September, 2013.)<br />
Area of current<br />
resource<br />
• Kuskokwim District is less than 1 kilometre<br />
“downhill” from the Shotgun Ridge Deposit<br />
• Despite the difficulties at Pebble, Alaska is<br />
still considered one of the best mining<br />
jurisdictions in the world<br />
TSX.V : TNR 23
Shotgun Zone Resource Estimate: effective date May 27, 2013<br />
The Shotgun Zone mineral resource estimate is based on 34 diamond drill holes (NQ) totaling 4,932.3 metres, with 2,481 assays (0.2 up to 10 metres in length). Holes<br />
were drilled by several operators in five drill campaigns conducted between 1984 and 2012. The 34 drill holes are spaced primarily 40 to 100 metres apart in an area<br />
of approximately 375 x 300 metres. The drill holes tested mineralization to a vertical depth up to 150 metres.<br />
The Shotgun gold mineralization is associated with intrusions of various compositions (incl. granite porphyry) which intruded the Cretaceous sedimentary rocks of the<br />
Kuskokwim Group. Mineralization was emplaced within a compressional environment evidenced by northeast oriented right lateral strike slip faulting and open<br />
folding with northwest oriented axes. In the Shotgun Zone, northwest oriented dilational jogs or relay zones host mineralized quartz breccias. A resource model for<br />
the Shotgun Zone was constructed based on the distribution of the gold mineralization (> 0.3 to 0.5 g/t Au) and this model was used to constrain the composite<br />
values chosen for interpolation, and the ore blocks reported in the mineral resource. A block model (x – 548000, y – 6697000, z – 800, no rotation) with block<br />
dimensions of 5 x 5 x 5 metres in the x, y and z directions was placed over resource model solids with only that proportion of each block below the<br />
topographic/overburden surface and inside the solid recorded.<br />
Grades for gold were interpolated into the blocks by the inverse distance squared (ID2) method using a minimum of 2 and maximum of 12 composites to generate<br />
block grades in the Inferred resource category. The search ellipse used to interpolate grade into the blocks measured 110 x 60 x 110 (Principle Az – 235°, Principle Dip<br />
- 25°, Intemediate Az.- 325°). The size and orientation of the search ellipse approximates the strike, dip and thickness of the resource model and takes into account<br />
the limited drilling and relatively wide spacing of the drilling.<br />
Two metre composite samples were used in the resource estimation. An average specific gravity (SG) of 2.60 was used for the resource estimate. The average SG<br />
value is based on limited SG testing (18 samples) of representative mineralized core from 11 drill holes which intersect the resource model. Gemcom GEMS 6.4.1<br />
software was used to complete the resource estimate.<br />
GeoVector has estimated a range of Inferred resources at various Au g/t cut-off grades (COG) for the Shotgun Zone. The current inferred resource is stated using a<br />
grade cut-off of 0.50 g/t Au. A cut-off grade of 0.50 is considered a reasonable economic cut-off grade for the Shotgun zone to maximize the grade of the resource<br />
while maintaining a coherent model of the resource. A COG of 0.50 is a reasonable cut-off for this type of Au deposit in this region (Donlin, Livengood).<br />
The inferred mineral resource estimate has been prepared in compliance with the standards of NI 43-101 Allan Armitage, PhD., P.Geol., of GeoVector Management<br />
Inc., and is responsible for the technical comments related to the resource estimate and its parameters. Armitage is an “independent qualified person” for the<br />
purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the data disclosed in<br />
this release.<br />
For more information see TNR Gold Corp. news releases dated April 22 and May 30, 2013 and SEDAR.<br />
TSX.V : TNR 24
Shotgun Zone Resource Estimate: effective date May 27, 2013<br />
Shotgun Ridge Inferred Resource – Au (g/t) cut-off<br />
Modeled based on a 0.3 – 0.5 g/t Au cut-off<br />
Cut-off Tonnes Grade (g/t) Grams Ozs<br />