high-grade gold production development in · pdf file3.5m3 scoops, jumbo drills) ... 3.5 m3...

High-grade Gold Production

Development in ColombiaPDAC, March 2016

TSX-V: AGD OTCQX: AGDFX www.antioquiagoldinc.com March 2016

DISCLAIMER

This presentation may contain forward-looking

statements concerning the Company’s plans for

its properties, operations and other matters.

These statements refer to analyses and other

information that are based on forecasts of future

results, estimates of amounts not yet

determinable and assumptions of management.

Statements concerning reserves and mineral

resource estimates may also be deemed to be

forward-looking statements to the extent that

they involve estimates of the mineralization that

will be encountered if the property is developed

and in the case of mineral reserves, such

statements reflect the conclusion based on

certain assumptions that the mineral deposit can

be economically exploited. Any statements that

express or involve discussions with respect to

predictions, expectations, beliefs, plans,

projections, objectives, assumptions or future

events or performance are not statements of

historical fact and may be “forward-looking

statements”. Should one or more of these risks

and uncertainties materialize, or should

underlying assumptions prove incorrect, actual

results may vary materially from those described

in forward-looking statements. Forward-looking

statements are made based on management’s

beliefs, estimates and opinions on the date the

statements are made and the Company

undertakes no obligation to update forward-

looking statements if these beliefs, estimates

and opinions or other circumstances change.

Investors are cautioned against attributing undue

certainty to forward-looking statements. Some

information provided is of a confidential nature

and cannot be divulged or used for gain until it is

made public.13


Cisneros location

• Paved highway, <2 hours from Medellin

• Good infrastructure including power, water and gas

• Proximity to other notable gold projects

Santa RosaRed Eagle Cisneros

Antioquia GoldGramalote

Anglo/B2Gold

Medellin


Board of Directors

Felipe Ferraro

Director and Chairman of the Board

• B.Sc in agricultural engineering and MA in business administration from the University ESAN-Stanford University

• Experience in industries including mining, enterprise, metal-working and heavy equipment

• General manager for Cori Puno that operates the 30,000 oz/y Au Untuca open-pit and underground mine in Peru (owned by the principals of Consorcio Minero Horizonte)

• Director of another TSXV-listed issuer

James (Jim) Decker, P. Eng.

Director and Vice President Investor Relations

• B.Sc. in Mining Engineering from Queen's University

• More than 40 years in the mining business

• President and principal partner of mining consulting firm Jim Decker & Associates with clients including Barrick, Kinross, Teckand Xstrata

• Director of two other TSXV listed issuers

Clever Schrader

Director

• Seasoned professional with forty years of experience in underground gold mine exploration and operations in Peru

• Currently Corporate Operations Manager for ConsorcioMinero Horizonte.

Ernesto Bendezu Flores

Director

• Lawyer in Peru with more than 20 years of mining experience

• Legal manager for Consorcio Minero Horizonte

Michael Cannock

Director

• Businessman with expertise in the hospitality and marketing sectors

• Director of hospitality at PI Fine Art in Toronto, Ontario


Management Team

Felipe Ferraro

President and CEO, Director

• B.Sc in agricultural engineering and MA in business administration from the University ESAN-Stanford University

• Experience in industries including mining, enterprise, metal-working and heavy equipment

• General manager for Cori Puno that operates the 30,000 oz/y Au Untuca open-pit and underground mine in Peru (owned by the principals of ConsorcioMinero Horizonte)

• Director of another TSXV-listed issuer

Rodger Roden

Chief Financial Officer

• Chartered Accountant with more than 25 years of industry experience

• Former VP Finance/CFO with public and private companies in a broad range of industries

• Currently CFO to several public companies

Alvaro Espinoza

Executive Vice President

• Strong background in mining finance

• Manager of Administration & Finance at Cori Puno, a CMH subsidiary

James (Jim) Decker, P. Eng.

Vice President Investor Relation, Director

• B.Sc. in Mining Engineering from Queen's University

• More than 40 years in the mining business

• President and principal partner of mining consulting firm Jim Decker & Associates with clients including Barrick, Kinross, Teck and Xstrata

• Director of two other TSXV listed issuers


Key Players


Background

• History• 2007 – Private investor group acquired core Guayabito property

• 2008 – Formed Antioquia Gold Inc. via reverse takeover

• 2009 to present – project advancement

• Acquisitions• Guayabito

• La Manuela

• Pacho Luis

• Santo Domingo

• Guayabito Sur

• Exploration• Mapping/Sampling/Geochemistry/Geophysics

• 45,000 m diamond drilling

• NI 43-101 Resource Report

• Development• Internal feasibility studies

• Production decision for initial annual operation of 30,000 oz Au

• Currently in underground development stage

• Production• Scheduled for year end 2016 or Q1 2017


Acquisitions

8


Initial Mining Areas

9

Guayabito

Guaico


Community Relations

• Highlights

• Communication Network

• Employment of Locals

• Reclamation

• Input for EIA permitting

• Financial Support for Community Projects

• Census of Land Owners/Residents


Resource Estimate


Exploration Potential


Mine Development

• Mechanized underground mining with trackless equipment (30t trucks, 3.5m3 scoops, jumbo drills)

• 500 tpd mine and process plant; 250 tpd first 2 years, 500 tpd thereafter

• 15,000 oz Au for first 2 years, increase to 30,000 oz Au/yr thereafter

• Processing circuit with gravity, flotation and dry tailings filtration process

• Dry tailings disposal/rock

• Initial 5-7 year mine life

Guaico Portal


Mining Method

% Production

Cost US$/t

Cut-off *(g Au/t)

Equipment Backfill

MechanizedCut and Fill

67% 13.87 2.55 Jumbo & 3.5 m3 Scoop

70% Waste Backfill30% Hydraulic Backfill

Cut and Fill with SpecialEquipment

15% 21.31 2.84 Jackleg &1 m3 Scoop

100% Hydraulic Backfill

Shrinkage Stoping

18% 25.07 3.34 Jackleg 100% Waste Backfill

Total 100% 2.70

Mine Plan


3.5 m3 Cat Scoop


Single Jumbo


Explosives Magazine


Guaico Tunnel – February 21,

2016


Guaico/Guayabito Tunnel Section View


Guaico Portal Area


Guaico Long Section

GCO Structure

GCFW5 Structure

Key

+1.0 g/t Au

0.1-1.0 g/t Au

43.7 g/t Au


Guaico Vein – 1.5m


Guayabito Long Section

BB’C C’Key

+1.0 g/t Au

0.1-1.0 g/t Au

GYB2

Structure

El Bolo Structure

31.3 g/t Au


Guayabito Plant & Infrastructure Layout

Plant Site

Guayabito Portal

Hydraulic BackfillPlant

Shop

Office/Dry Complex

Warehouse


Guayabito Plant & Portal


Mine Development Renders

Guaico Guayabito


Cisneros Metallurgy/Flotation Testing

Metallurgical tests indicate >95% gold recovery

Unit Guaico Guayabito

Mineral weight g 1,000 1,000

Au head grade analyzed

g/t 5.3 6.7

Au head grade calculated

g/t 5.7 6.6

Granulometry -200 mesh

% 60 60

Density Kg/L 1.3 1.3

Conditioning time Min 5 5

Initial pH of flotation 8.8 8.4

Final pH of flotation 8.4 8.1

Flotation time Min 16 16

Xanthate Z-6consumption

g/t 60.0 60.1

ER-350 consumption g/t 22.4 22.4

MIBC consumption 15.2 15.2

0

20

40

60

80

100

0 2 4 6 8 10 12 14 16 18

% R

eco

very

Time, minutes

Flotation Without Gravimetrics, Guaico


Project Financing in Place

• Capex US$18M

• Infinita unsecured US$15M loan

• ~8% loan interest

• Two-year grace period

• US$6M drawn to date

• US$12M to draw down in 2016

• US$3M from cash flow from 1Q17

+ = Value creationReduced risk


Mine Development Timeline

Infrastructure & Mine

DevelopmentGuayabito

Guaico

2016 Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2017

PlantDetailed

Engineering

Mine

Development

Ongoing

Ore

Production

OreProduction

Env’l & Mining Permit

Construction

Testing &

Commissioning


Current Status – Full Steam Ahead

• Permits in hand for Guaico

• Guaico Tunnel & Infrastructure close to completion

• Guayabito Tunnel & Infrastructure awaiting permit

• Plant detailed engineering ongoing

• Contractors working well

• Other

• Guaico underground diamond drilling

• Guayabito South Exploration

• Exploration tunnel

• Drilling


Conclusion

Thank You

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