corporate presentation may 2015 - pasinex › ... › pasinex-presentation-29-may-2015.pdf ·...

Resources Limited

Corporate Presentation May 2015 CSE: PSE | FSE: PNX

May 2015 1

Resources Limited

Disclaimer

The information contained in this presentation is provided by Pasinex Resource Limited. (“Pasinex”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Pasinex or other financial products. The information contained herein is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The views, opinions and advice provided in this presentation reflect those of the individual presenters, and are provided for information purposes only. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Pasinex nor its directors officers, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of the information contained in this presentation. Except for statements of historical fact, this presentation contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including, among others, the accuracy of mineral grades and related assumptions, planned expenditures, proposed exploration and development at the Golcuk Copper/Silver Project, the Horzum Zinc/Lead Project and the Dadak Copper / Gold Project. Pasinex undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. This presentation includes industry, market and competitive position data from industry journals and publications, data on websites maintained by private and public entities, including independent industry associations, general publications and other publicly available information. Pasinex believes that all of these sources are reliable, but we have not independently verified any of this information and cannot guarantee its accuracy or completeness. Industry publications and surveys generally state that they have obtained information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. Further, because certain of these organizations are industry organizations, they may present information in a manner that is more favourable to the industry than would be presented by an independent source. In addition, forecasts are often inaccurate, especially over long periods of time. References in this presentation to research reports or articles should not be construed as depicting the complete findings of the entire referenced report or article. The information in each report or article is not incorporated by reference into this presentation.

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Resources Limited

Capital Structure


SHARE STRUCTURE AS OF MARCH 2015

Shares Issued & Outstanding 82.7 M

Warrants 12.2 M

Options 3.1 M

Shares Fully Diluted 98.0 M

52 Week Range $0.05 – $0.17

*>70% of the shares held by management & insiders ** Warrants range from 0.10 CAD to 0.20 CAD; see Appendix *** Options @ 0,14 CAD

Resources Limited

Positioned for Growth in Zinc & Base Metals

Focus on historic zinc belt

in south-east Turkey (Adana)

Pipeline of high grade projects

near historic Horzum Zinc Mine

(around 2 Mt @ 28% Zn)

• Pinargozu (Starter Project)

• Akkaya

DSO High grade zinc

Cash flow in 2015

Low capex

District potential in Horzum area

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Akmetal visitor group at Pasinex booth, PDAC 2014

May 2015 4 CSE: PSE | FSE: PNX

Resources Limited

Pasinex‘ Corporate Structure

CSE: PSE | FSE: PNX 5 29.05.2015

[Pasinex Resources Ltd.] CSE:PSE

[Pinargozou, Akkaya] Zinc exploration &

production

[Horzum JV] 50/50 with Akmetal

A.S

[Golcuk] 100%

[Pasinex Arama ve Madencilik A.S.] Ankara Office

Resources Limited

Senior Management – Strength in Mining

Steve Williams – President and CEO

• Metallurgy degree and MBA

• Mines in Australia and Canada

• 20 years with SGS in Metallurgy

• Past Managing Director SGS Canada

Clinton Smyth – VP Exploration

• Geology / Geochemistry degree

• Exploration in South Africa, SE Asia

• VP Exploration for Anglo-American

• Exploration in BC with other companies

Team of geologists and in Turkey and Canada

Use of world class consultants


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Board of Directors

Steve Williams – President, CEO and Chairman

Sven Olsson – 15 years in capital raising for junior exploration

John Barry – Experienced Zn geologist ex CEO Rathdowney Resources

Jonathan Challis – Mining engineer with many Director and senior roles with juniors

Vic Wells – Financial and legal expert was CFO / Director for a number of junior exploration companies

Larry Seeley – ex VP Falconbridge Mining, ex-President Lakefield Research

Joachim Rainer – involved in entrepreneurial finance in Austria

Advisors to the Board

• Gary German – Director Nevsun Resources Ltd

• Gerard Munera – Director Nevsun Resources Ltd


Resources Limited

Strategic Joint Venture – Akmetal AS

Akmetal AS – large producer of chromite in Turkey and interests in an operating gold and base metal mines in Turkey (through another JV)

Part of the large privately owned Kurmel Group

• interests in dairy, agriculture, mining, textiles, tourism and construction

50 / 50 joint venture - regional exploration for zinc in Adana province

Akmetal brings proven mining experience and wherewithal

Pasinex brings leading technical knowledge


Resources Limited

Pasinex Projects in Turkey – Zinc Focus at Horzum

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Large zinc district potential

Turkey is very under-explored particularly for base metals

Infrastructure is very strong in Turkey

Access to major roads, port (Mersin), major airport (Adana), HV electrical

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Resources Limited

Horzum JV Location

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Horzum zinc district – carbonate replacement zinc

Mineralization on strike with major fault


Resources Limited

Horzum Regional Zn Project, Adana

Held by Horzum JV ( 50 / 50 Pasinex and Akmetal)

• A regional Zn project

Carbonate Replacement type (CRD) Zn deposits

Historic zinc mining

• Akmetal’s Horzum mine – around 2 M t of 28% Zn (oxide) from 1974 – 1996

• Small scale mining throughout the area

Major exploration and development underway

• Akkaya shows strong presence of Zn/Pb anomaly

• Pinargozu target for high grade Zn mineralization (+25% Zn)

• Drilling underway in Pinargozu

First Production agreement to sale in December 2014:

• 5,000 tonnes of high grade zinc material (>30%Zn) valued at > U$1M

• 2.4 M lbs Zn mined Jan – April 2015


Resources LimitedCross Section Through the Old Horzum Zinc Mine Template for Pinargozu

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Mined from mid 1970s to mid 1990s

Indicates the potential of the Horzum region


Resources Limited

Mine Model of Historic Horzum Mine

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High Grade Zinc Oxide in Cave Structures


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Drill Success at Pinargozou

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Planview Pinargozou 3D view looking North

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Borehole PPU14-15 (2014) intersected 16.80 m @ 39.0% zinc 1.6% lead and 85 g/t silver

Mineralization is open at depth, and at the same stratigraphic level as the Horzum Mine Systems

CSE: PSE | FSE: PNX May 2015

Resources Limited

Pinargozu Drilling as of May 2015

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Oblique view, looking north-east, of the mining area at the Pinargozu mine, showing the extent of mining and drilling to May 2015

May 2015

Resources Limited

Conclusions from most recent drill results

From a total of seven surface drill holes completed since late March 2015, five intersected inferred extensions of the mineralized zone previously reported for PPS15_004 and PSS14_008, situated to the north east of recent underground development at Pinargozu Mine.

Some of the results include a 12.3 m intersection in borehole PPS15_013 grading 26.6% zinc, 19.5% zinc over a 7.2 m interval in PPS15_012 and a 4.8 m intersection grading at 21.7% zinc in borehole PSS15_007.

Mineralization intersected in recent boreholes has therefore confirmed the apparent continuation of high-grade zinc mineralization to the north east and to the north at Pinargozu, which is accessible from existing workings;

Continuity of mineralization identified in bore holes PPS15_010 to PPS15_013 is encouraging since these holes were targeting the mineralized zone from a different angle and from a different drill site than that used for previous holes.

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Resources Limited

Small Scale Production at Horzum JV

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As of May 2015 approx. 10,000 t of high grade zinc ore mined

Assayed to date 570 t @34% Zn, 50 g/t Ag

CSE: PSE | FSE: PNX May 2015

Resources LimitedAkkaya – Horzum JV Project . Drilling underway

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Akkaya

Pinargozu

Horzum

0 5 10 Kilometres


Resources Limited

Pinargozou Strategy – Deliverables & Budget

Pinargozu status • Two of seven historic adits refurbished along hillside • First Drill Success from level 707: 16.9 m of 39% Zn, 85 gpt Ag • Best intercept 35.5 m at 37.7% Zn (March 2015) • Mineing and stockpile 25 tpd high grade ore (DSO)

To date • Approximately 10,000t of oxide ore mined

at +30% Zn or about 2.5 M lbs contained Zn

Plan 2015 • 3,500 m Drill Program for a target

resource of 1 Mt @ 30% Zn Drill test adjacent Akkaya

• Complete NI 43-101 resource Q3 2015 • Increase mining rate at mine to about double

JV budget until 2015 $2.0 M

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Resources Limited

Golcuk – An Emerging Cu Project

Very Prospective Cu / Ag project • Volcanic Red bed Cu / Manto type Cu deposit • Same style as Keweenaw projects in Michigan

(White Pine mine)

Acquired in September 2012

Option agreement with Eurasian Minerals Inc. • 3,000,000 shares in tranches over 4 years • 2.9% NSR royalty which can be bought down

to 2.0% with $1M in up to 6 years • 100% Pasinex owned

Significant Cu anomalies on the site • Phase 1 Drilling Dec 2012 to Feb 2013 – best hole

nearly 10 m at 3% Cu • Phase 2 drilling confirmed Manto Copper Style

mineralization up to 2% Cu


Resources LimitedGolcuk Project – Golcuk South: Indications of Larger Regional Copper Opportunity

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Figure 1: Copper levels (in percent) in rock samples from Golcuk South. Sampled area 300 m x 700 m

Figure 3: Length-weighted copper averages for channel sampling clusters at Golcuk South, showing three new (November 2013) clusters of channel sampling plotted in red (clusters 11 to 13) of up to 1.4% Cu


Resources Limited

Future Direction

Next 12 months: drive Pinargozu project to first resource definition and advance Akkaya and Golcuk

Drilling at Horzum region project

• Pinargozu drilling underway – to continue through 2015

• Akkaya drilling in 2015

• NI 43-101 Q3 2015 for Pinargozu (subject to drilling results)

• Akmetal AS drill equipment and crews carrying out current drilling, but will later be complemented with commercial drillers

Drilling at Golcuk property

• Drilling in Golcuk West and South zones in 2015 (Q3 / Q4)


Resources Limited

Canada Main Office Pasinex Resources Limited Suite 501 133 Richmond Street W Toronto, Ontario M5H 2L3 Tel +1 416 861 9659

Ankara Office, Turkey Koza Sokak 53 / 5 06700 Cankaya, Ankara Tel +90 312 441 1318 Fax +90 312 441 1319

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Office of President, Canada Tel +1 705 292 8116 [email protected]

General Information

[email protected]

CHF Investor Relations 90 Adelaide Street West Suite 600 Toronto, Ontario M5H 3V9 Cathy Hume Tel +1 416 868 1079 ext.231 [email protected]


Contact

mailto:[email protected]

mailto:[email protected]

Resources Limited

Appendix: Warrant overview as of May 2015

CSE: PSE | FSE: PNX 24 29.05.2015

Warrants Expiry Price CAD raised

2.007.150 15/07/02 $0,16 $321.144,00

1.934.615 16/12/11 $0,10 $155.000,00

1.714.500 16-12-19 $0,18 $308.610,00

455.000 17-02-06 $0,18 $81.900,00

3.000.772 17-04-07 $0,12 $360.092,64

724.731 17-04-22 $0,12 $86.967,72

2.746.468 17-08-18 $0,20 $549.293,60

12.583.236 $1.863.007,96

Resources Limited

Appendix: Turkey – A Great Place to be

Pro-business and Pro-mine development • 16th largest economy in the world

• Great infrastructure

• High voltage electricity lines near all Pasinex properties

Up to 30,000 mining licenses available in the next few years • Licenses relinquished by small private Turkish parties - they cant afford to explore

• Available for auction or staking or private deals

Excellent geology, very under explored • Resources of precious and base metals plus chromite, boron, iron ore and coal

Large new mine developments • Includes Eldorado Gold’s Kisladag, Efemcukuru, Koza Gold’s Ovacik & First Quantum’s

Cayeli Bakir mines

Very favorable Capex and Opex cost base (vs Canada, Australia)


Resources Limited

Appendix: Horzum JV Infrastructure


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Appendix Horzum Template for Next Deposit


Estimated Historical Production up to 4Mt @ 30% Zn 2/3 Oxide, 1/3 Sulphide Ores

Resources Limited

Appendix Golcuk Project - “Main Zone” Drilling

Best Pasinex Drill Hole 2.97% Cu in 9.7m (January 2013)

• Historic and Pasinex drilling in the Golcuk Main zone

• ‘Manto’ style mineralization

• Mineralization (Cu as chalcoite / bornite with Ag) trends NE


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