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NYSE AMERICAN: GSV | TSX: GSVNYSE AMERICAN: GSV | TSX: GSV SOUTH RAILROAD PROJECT GOLD RESERVES
August 2020
Developing Nevada’s Next Open-Pit, Oxide, Heap Leach Gold Project!
TERMS OF USE AND DISCLAIMER – This presentation is being provided for the sole purpose of providing the recipients with background information about Gold Standard Ventures Corp. (“Gold Standard”). Gold Standard has made reasonable efforts to ensure that the informationcontained in this presentation is accurate as of the date hereof, however, there may be inadvertent or unintentional errors. No representation, warranty or guarantee, express or implied, is made as to the fairness, accuracy, completeness or correctness of information contained in thispresentation, including the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects, results or statements in relation to future matters contained in this presentation. The views and information provided herein are based on a number of estimates andassumptions that are subject to significant exploration, business, economic, regulatory and competitive uncertainties. See “Forward Looking Statements” below. Gold Standard is not liable to any recipient or third party for the use of or reliance on the information contained in thispresentation.
This presentation provides information in summary form only, is not intended to be complete and does not constitute an offer to sell or the solicitation of an offer to buy any security. It is not intended to be relied upon as advice to investors or potential investors and does not constitutea personal recommendation or take into account the investment objectives, financial situation or needs of any particular investor. Gold Standard is not acting as agent or advisor and encourages the use of independent consultants, as necessary,prior to entering into transactions.
FORWARD LOOKING STATEMENTS – Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements" within the meaning of Canadian and United States securities and other laws. Often, but not always,forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “aims”, “anticipates”, “will”, “projects”, or “believes” or variations (including negative variations) of such wordsand phrases, or statements that certain actions, events, results or conditions “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward looking statements in this presentation include, among other things, statements regarding estimates of mineral reservesand resources; the opportunities for exploration, development and expansion of the Railroad-Pinion Project, including the future organic growth of many favourable targets; advancing South Railroad toward a feasibility study by 2021 and filing a Plan of Operations in late 2020;estimates of capital expenditures and operating costs related to South Railroad; future financial or operational performance, including the amount of future production at South Railroad and target share price; life of mine projections for South Railroad; the potential for productiondecisions; planned drilling and the potential for new discoveries within the Railroad-Pinion Project, including the potential for a multimillion-ounce deposit discovery; planned metallurgical, hydrology and geotechnical studies on the Pinion deposit, including the proposed program for2020; the potential to increase oxide reserves and resources at the Pinion and Dark Star deposits, including the potential to convert Inferred mineral resources to Measured and Indicated; the potential to add additional mine life to the operations proposed in the 2020 preliminaryfeasibility study for the Pinion and Dark Star deposits; the Dark Star deposit development targets, including the potential high-grade targets at North Dark Star; the potential to define mineral reserves and resources at Jasperoid Wash and Pod/Sweet Hollow, including opportunitiesto expand oxide resource potential at the Pod/Sweet Hollow deposit; the proposed drill programs at Jasperoid Wash and Pod/Sweet Hollow; the oxide mineral resource mine development plan; and the expected exploration potential, value and operational synergies related to theLewis Project.
These forward-looking statements and information reflect Gold Standard’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Gold Standard, are inherently subject to significant operational,business, economic and regulatory uncertainties and contingencies. These assumptions include: the expected results of proposed exploration programs; our mineral reserve and resource estimates and the assumptions upon which they are based, including geotechnical andmetallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the PFS; success of Gold Standard’s projects,including the Railroad-Pinion Project; prices for silver and gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Gold Standard's projects; capital, decommissioning and reclamation estimates, including the availability of financingto complete proposed drilling and work programs; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour- related disruptions; potential directorconflicts of interest not adversely affecting Gold Standard; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; all necessary drilling and mining equipment, energyand supplies being obtained in a timely and cost-efficient manner; Gold Standard’s capital and operating costs will not increase significantly from current levels; key personnel will continue their employment with Gold Standard and Gold Standard’s ability to recruit and retainadditional qualified personnel; the ability to comply with environmental, health and safety laws; and the absence of any material adverse effects arising as a result of political instability, terrorism, sabotage, natural disasters, public health concerns, equipment failures or adversechanges in government legislation or the socio-economic conditions in Nevada and the surrounding area with respect to the Railroad-Pinion Project and operations. The foregoing list of assumptions is not exhaustive.
Gold Standard cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-lookingstatements or information contained in this presentation and Gold Standard has made assumptions and estimates based on or related to many of these factors. Such risk factors include, without limitation: Gold Standard’s limited operating history; Gold Standard’s history of lossesand expectation of future losses; uncertainty as to Gold Standard’s ability to continue as a going concern; the existence of mineral resources and mineral reserves on the Company’s mineral properties; Gold Standard’s ability to obtain adequate financing for exploration anddevelopment; Gold Standard’s ability to carry out operations in accordance with plans in the face of significant disruptions, including the COVID-19 pandemic; Gold Standard’s ability to convert mineral resource estimates previously classified as Inferred to Indicated or Measured; theuncertain nature of estimating mineral resources and mineral reserves; the involvement by some of Gold Standard’s directors and officers with other natural resource companies; uncertainty surrounding the Company’s ability to successfully develop its mineral properties;fluctuations in silver and gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with thebusiness of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); inadequate insurance, or inability to obtain insurance, to cover theserisks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the United States, including environmental, export and import laws and regulations; legal restrictions relatingto mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters; risks related to natural disasters, climate change, terrorism, civil unrest, public health concerns (includinghealth epidemics or pandemics or outbreaks of communicable diseases such as COVID-19) and other geopolitical uncertainties; decreased spending as a result of the COVID-19 pandemic which could adversely affect and harm Gold Standard’s business and results of operations; andthe additional risks identified in the sections “Cautionary Statement Regarding Forward Looking Statements and Forward Looking Information”, “Risk Factors” and elsewhere in Gold Standard's Annual Information Form dated March 27, 2020, available on SEDAR at www.sedar.comand Form 40-F dated March 27, 2020 available on EDGAR at www.sec.gov/edgar.shtml.
Although Gold Standard has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance onforward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Gold Standard does not assume any obligation to update or revise them to reflect new events orcircumstances.
CAUTIONARY NOTE FOR U.S. INVESTORS REGARDING RESERVE AND RESOURCE ESTIMATES -Canadian public disclosure standards, including National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), differ significantly from the requirements of theSecurities and Exchange Commission set forth in Industry Guide 7 (“Industry Guide 7”), and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S.companies in accordance with Industry Guide 7. In particular, and without limiting the generality of the foregoing, this presentation uses the terms “proven mineral reserves,” “probable mineral reserves,” “measured mineral resources,” ‘‘indicated mineral resources’’ and ‘‘inferredmineral resources’’. U.S. investors are advised that, while such terms are recognized and required by Canadian securities laws, Industry Guide 7 does not recognize them. The requirements of NI 43-101 for identification of ‘‘reserves’’ are not the same as those of Industry Guide 7,and reserves reported by the Gold Standard in compliance with NI 43-101 may not qualify as ‘‘reserves’’ under Industry Guide 7. Under Industry Guide 7, mineralization may not be classified as a ‘‘reserve’’ unless the determination has been made that the mineralization could beeconomically and legally produced or extracted at the time the reserve determination is made. U.S. investors are cautioned not to assume that any part of a “measured mineral resource” or “indicated mineral resource” will ever be converted into a “reserve”. U.S. investors shouldalso understand that “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 “inferred mineral resources” exist, are economically or legallymineable or will ever be upgraded to a higher category. Under Canadian securities laws, estimated “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Disclosure of “contained ounces” in a mineral resource is permitteddisclosure under Canadian securities laws. However, Industry Guide 7 normally only permits issuers to report mineralization that does not constitute “reserves” by Industry Guide 7 standards as in place tonnage and grade, without reference to unit measures. Accordingly,information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with Industry Guide 7.
All scientific and technical information contained within this presentation has been prepared by, or under the supervision of, Steve R. Koehler, Gold Standard’s manager of projects, BSc Geology, and CPG-10216, a qualified person as defined by NI43-101 standards for Disclosure forMineral Projects.
Information in this presentation contains descriptions of our mineral deposits that may not be comparable to similar information made public by US companies subject to the reporting and disclosure requirements under US federal securities laws and regulations. See “Cautionary NoteRegarding Mineral Resource Estimates” in the AIF.
Forward Looking Statements
2
Why GSV?
The South Railroad Project has a robust PFS with impressive IRR and NPV at gold price significantly below SPOT
GSV controls a very large, underexplored and strategically located land package in the Carlin Trend, one of the most prolific gold belts in North America, and in a favorable geopolitical area with ample room for future organic growth
Have current Market Cap of ~US$200M and PFS NPV of US$331.4M*
Analyst suggest a target share price range of US$1.13 to US$1.88
Advancing the feasibility and permitting processes, setting up the company for next stage, potential production decision.
3
* Scientific and technical disclosure for the Railroad-Pinion Project is supported by the technical report with an effective date of February 13, 2020, entitled “South Railroad Project NI 43-101 Technical Report, Updated Preliminary Feasibility Study, Carlin Trend, Nevada, USA”, prepared by M3 Engineering & Technology Corporation
The Railroad-Pinion project is located in Nevada on the Carlin Trend, a favorable mineral trend that hosts numerous multimillion-ounce gold deposits.
Railroad-Pinion is an unparalleled 208 km2 land package with many favorable targets that are considered excellent for future organic growth
The GSV technical team has close to 300 years of cumulative work experience, much of it on the Carlin Trend
GSV is advancing the South Railroad Project which returned a very positive 2020 PFS and contains one of the largest and newest discovered, unmined oxide deposits, Dark Star, on the Carlin Trend
GSV is committed to advancing its project toward a feasibility study by 2021 and filing a Plan of Operations, targeted for early 2021, to further de-risk a potential production decision
There is excellent potential to significantly increase oxide reserves and resources at the Pinion and Dark Star deposits
There is potential to define other reserves and resources at Jasperoid Wash and Pod/Sweet Hollow as well as new exploration targets throughout the property
The Opportunity
4
Carlin Trend
Battle Mtn - Eureka Trend
Lewis
Railroad-Pinion
NEVADA
Development
Optimized PFS for the South Railroad Project published Q1 2020
Upside and growth potential at Dark Star and Pinion by converting Inferred resources to Measured and Indicated
Ongoing geotechnical, hydrology and engineering studies to further de-risk the project and complete a feasibility study targeted for delivery in 2021
Advanced permittingactivities in progress
Exploration
Focus is on adding immediate value to the South Railroad Project
New oxide discovery at the LT target (LT19-02: 12.2m of 1.58 g Au/t)
Completed initial resource estimate at the Jasperoid Wash deposit
Initiating review of opportunities to expand oxide potential at the Pod/Sweet Hollow deposit
Conducted initial resource estimate at the Virgin deposit on the Lewis Project
ESG and Safety
3,000 consecutive days worked in Nevada without a Lost Time Accident –milestone achieved Q2 2020
Embedding ESG within our business culture
Multiple CSR initiatives within Elko County, NV
Inaugural ESG report to be published in 2020
Company Highlights
5
Highlights of South Railroad 2020 PFS (USD)
6
MetricsInitial Capital Expenditures $132.9M
Life of Mine Capital Expenditures $285.6M
Life of Mine Pre-Tax Cash Flow $439.7M
Life of Mine Pre-Tax NPV(5%) $331.4M
Life of Mine Pre-Tax IRR 46.1%
Life of Mine After Tax Cash Flow $357.6M
Life of Mine After Tax NPV (5%) $265.0M
Life of Mine After Tax IRR 40.0%
Cash Costs After By-Product Credit* $582/oz
AISC* $707/oz
Payback 3.3 years
The PFS was conducted using assumed metal prices of $1,400/oz gold and $17.11/oz silver. The mineral reserve estimate that provides the basis for the PFS was conducted at assumed metal prices of $1,250/oz gold and $15.30/oz silver. Scientific and technical disclosure for the Railroad-Pinion Project is supported by the technical report with an effective date of February 13, 2020, entitled “South Railroad Project NI 43-101 Technical Report, Updated Preliminary Feasibility Study, Carlin Trend, Nevada, USA”, prepared by M3 Engineering & Technology Corporation
* See “Non-GAAP Financial Measures” in the Appendix of this Presentation.
Base +$200 Base +$100 Base ($1400) Base -$100 Base -$200Gold Price $1600 $1500 $1400 $1300 $1200Silver Price $19.56 $18.33 $17.11 $15.89 $14.67Pre-Tax Cash Flow $623.0M $531.3M $439.7M $348.1M $256.5MPre-Tax NPV (5%) $481.2M $406.3M $331.4M $256.5M $181.6MPre-Tax IRR (%) 61.3% 53.8% 46.1% 38.1% 29.6%After Tax Cash Flow $506.3M $432.1M $357.6M $282.9 $207.6After Tax NPV (5%) $386.5M $325.9M $265.0M $204.0M $142.4MAfter Tax IRR (%) 53.3% 46.8% 40.0% 33.0% 25.4%
Sensitivity to Gold Price
Target Rich - 208 km2 - Land Package
7
SouthRailroad Project
South Railroad Project
Dark Star Pinion
Advanced Exploration/Development
Jasperoid Wash Pod/Sweet Hollow North Bullion
Other Targets
LT Ski Track Dixie Hidden Star Bald Mtn North of North Dark Star Other
South Railroad Development Highlights
South Railroad Project
Optimized and updated PFS completed February 2020
P&P mineral reserves: 1.246M oz Au and 2.705M oz Ag
o 6,515 K Tonnes @ 1.27 g Au/t Proven & 40,829 K Tonnes @ 0.75 g Au/t Probable
o 1,081 K Tonnes @ 5.48 g Ag/t Proven & 16,887 K Tonnes @ 4.64 g Ag/t Probable)
Pre-tax IRR 46.1% and NPV US$331.4M (5%) with ASIC of US$707 at US$1,400 Au
Feasibility study in progress; Plan of Operation submission to BLM targeted in early 2021
Dark Star Deposit
Open near-surface oxide mineralization to the north, east and south
20 RC holes (~2,200m) and 9 sonic holes (~750m)
Outcrop mapping and sampling to define new targets along strike of the Outcrop and Sirius faults
Pinion Deposit
Near-surface oxide mineralization open to the south
Potential resource expansion in 2020 by moving Inferred to Measured and Indicated
Infill drilling ~75 RC and core holes (16,200m)
Additional metallurgical, hydrology and geotechnical studies planned
8
Oxide Resource Mine Development Plan (potential)
Pinion Resource (~400Koz)o US$1400 Resource/step-out to southo Initial phase of drilling to establish baseline resource potential, hydrology,
and geochemistry
Dark Star Additions (~50-100Koz)o Qc gravels east of Dark Staro Southern extensiono North (7.2 g Au/t at surface, expansion to north)
Jasperoid Wash (~150-300Koz)o Expand shallow oxide mineralization to the east and northo Test soil anomalies to the southo Follow structurally controlled mineralization to the west
Pod/Sweet Hollow Oxides (~135Koz)o Test for oxide resource expansion opportunitieso Initial metallurgical drilling and test programs to confirm oxide
classification
9
Oxide Resource/Reserve Growth - Pinion
Resource step-out defined by US$1400 gold price. Potential resource expansion of oxide Au and Ag
Currently defined by historic and wide spaced drilling
Requirement to bring into reserve
o Infill Drilling (75 holes, 16,200m)o Metallurgical Testingo Hydrology Programo Geotechnical Testingo Mine Plan
Proposed program for 2020
o Drill 75 infill holeso Initial metallurgical testingo Establishment of hydrology parameters
and baseline information.o Detailed mapping/sample to better
define controls on mineralization
Reserve Pit
$1400 Au Resource Cone
100m
10
Summary Of Development Targets – Dark Star
Offset the alteration found in the Ranch Hole
Extend and define the limits of surface mineralization at East Dark Star
Step out drilling to the south
Proposed development drill plan for 2020
o 20 RC holes, 2200 meterso 9 Sonic holes, 750 meters
Outcrop mapping and sampling testing extensions along Outcrop and Sirius Faults
N
Proposed 2020 drill sites
Drill hole, trace
Saddle
East Dark Star
11
Potential High-Grade Targets – North Dark Star
Ore Controls
WNW-, NW- and N-striking faults
Debris flow conglomerate Defined by geologic mapping,
surface channel samples and 3D Micromine model
Targets and Opportunities
> 18m of 3.08 g Au/t in drill cut; open surface oxide mineralization to be defined with shallow RC drilling
2019 surface oxide mineralization to be included in next resource update
Drill footwall of Outcrop fault near the West fault
Drill WNW-striking faults intersecting the West fault
12
Other Development Targets – Dark Star
Test for extensions of Dark Star to west along major structural break in 2D seismic
Test for extensions of North Dark Star associated with Outcrop Fault
Test for extensions of Dark Star to south along Sirius Fault associated with rock chips
Propose drill program: 8 Holes, 1,992 meters
Dark StarMain
Pit
13
Step-out Drilling - Jasperoid Wash
Offset positive near surface oxide intercepts from 2019 drilling
Proposed drill program
o 16 RC holes, 3,414 meters
Goals
o Expand shallow minable oxide resource to the east and north
o Test for extensions of structurally-controlled mineralization to the west
o Evaluate soil targets to south and east of Jasperoid
JW19-10
JASPEROID WASHDEPOSIT
Mt
Mt
IPPcg
IPm
IPPsc
Tqfp
Proposed drill hole
Drill hole, trace
GSV property boundary
14
Oxide Potential – Pod/Sweet Hollow
135K oz Au Oxide Resource at Pod/Sweet Hollow
Historic and wide spaced drilling, hosted primarily in Chainman Sandstone. Historic drilling highlights:
o Pod: 60.56m @ 3.78 g Au/t, 51.68m @ 3.37 g Au/t, 13.68m @ 1.38 g Au/t, 56.24m @ 3.35 g Au/t & 48.64m @ 2.35 g Au/t
o Sweet Hollow: 62.48m @ 1.17 g Au/t & 71.44m @ 0.79 g Au/t
Mine planning requires …
o Infill Drillingo Metallurgical Testingo Hydrology Programo Geotechnical Testingo Mine Plan
Proposed program
o 35 drill holes for 1,915mo Initial metallurgical testingo Establish hydrology parameters.o Explore growth potential of resource
Pod
Sweet Hollow
15
Proposed drill hole
Drill hole, trace
Rock Chip GeochemistryAu ppm
Tqfpdike
2019 drill hole LT19-02 intersected 12.2 m @ 1.58 g Au/t, near-surface oxide
Proposed drill program
o 16 angle RC holes, 3,170 meterso 2 angle core holes, 244 meters
Goals
o Expand shallow oxide mineralized zone encountered in LT19-02 along N-S fault/QFP dike
o Wide-spaced step-outs to south to test for extensions to mineralization on N-S fault, fault intersections
Mc
Mw
Mtp
Ddg
Dox
Dsm
Dbp
LT19-02
Follow-up Discovery Drilling – LT Target
16
Taking active steps to embed ESG - Progress at a glance
17
Capital Structure & Financial Information
OceanaGold Retail
Current Analyst CoverageTyron Breytenbach Stifel GMPAndrew Mikitchook BMO Capital MarketsBhakti Pavani Euro Pacific CapitalChris Thompson PI Financial Corp.Adam Graf B Riley FinancialMichael Gray Agentis Capital
Gold Standard Ventures CorpListing NYSE American & TSXSymbol GSV
52 week lo-hi (TSX)* C$ 0.46– 1.4652 week lo-hi (NYSE American)* US$ 0.27 – 1.11
Combined 3 monthavg. trading daily volume*
~1.4M
* All figures above are approximations.
Shares*Shares outstanding 284.4 millionOptions 11.3 millionRSU’s 1.7 millionWarrants 0.0 millionFully Diluted 297.4 millionCash ~ C$ 8.6 million
* All figures above are approximations
T GSV
* As of June 30, 2020.
* As of June 30, 2020.
Major Shareholders*Institutional ownership 54.0% Van Eck Associates Ingalls Fidelity CI Tocqueville Franklin
Newmont/GoldCorp Inc. 12.7%FCMI 11.0%Retail 17.5%Insider and associates 4.8%
Insiders
FCMIInstitutional
Newmont-Goldcorp
18
$1.10
Directors, Management & TechnicalTeam
19
Directors & Management - Proven Access to the Capital Markets
Jonathan Awde Director – President & CEO / Co-Founder
William E. Threlkeld, MSc Econ. Geol. Director
Ron Clayton Director
Jamie Strauss Director
Robert McLeod, P.Geo Director
Bruce McLeod, P. Eng Director
Alex Morrison Director
Zara Boldt Director
Michael Waldkirch Chief Financial Officer
Glenn Kumoi VP General Counsel & Corporate Secretary
Bill Gehlen, MSc Geology Manager of Corporate Development, CPG
The Technical Team - Proven Ore Finders and Developers in Nevada
Don Harris, MSc Geology General Manager, QP 43-101
Mark Laffoon, BSc Mining Engineering Project Director, QP 43-101
Steven Koehler, BSc Geology Manager of Projects, Senior Geologist, QP 43-101
Craig Mach, PhD Economic Geology Senior Geologist, CPG 12013
Zach Grimac, BSc Geology Staff Geologist
Jesse Heavin Drilling Services Manager
James Wright, MSc Geophysics Senior Geophysical Consultant
Gary Simmons, BSc Metallurgical Engineering Senior Metallurgical Consultant
Dark Star Deposit
Targets and Milestones
Convert significant Inferred resources into Indicated and Measured reserves at Pinion and Dark Star with potential for adding additional mine life to the operations proposed in the 2020 PFS
Filing of the South Railroad Project Plan of Operation targeted for early 2021 further de-risking a potential future production decision
Additional resource development on various advanced exploration targets
20
A P P E N D IX
North Dark Star
A P P E N D IX
21
Strategic Acquisitions
Capitalizing on Market Downturns
CURRENT PROPERTY POSITION
2018 TotalPosition:52,731 acres (208km2)
* Partial and controlling interests are both represented
Jasperoid Wash
22
2017 EIS Proposed Pit Boundary
Lewis Project has significant strategic value (21.6 km2
on the Battle Mtn. – Eureka mineral trend, adjacent to Nevada Gold Mines active Phoenix Project) but GSV does not receive any value for the project in the market
Some analysts value Lewis at USD $50M but suggest most of the value lies in a sale or a pushback agreement with the adjoining Phoenix Mine
An Inferred mineral resource estimate for the Virgin Deposit was prepared in accordance with NI 43-101
o 7.74 million tonneso 205,827 ounces of Au @ 0.83 g Au/to 3,537,268 ounces of Ag @ 14.22 g Ag/to Shallow Au and Ag mineralization is open to east and
west with extensions to the north and at depth and the south end of the resource continues into the Phoenix open pit
Property contains other high value exploration targets:
o SW Skarn target (Hole FWL-30 intersected 17 meters @ 5.7 g Au/t open in several directions)
o Buena Vista – Meagher fault corridor N of Phoenix pit (Hole BVD-9A interecepted 27.4 meters of 2.20 g Au/t
Lewis Project
23Non-shaded area controlled by NGM
2017 Amended Plan of Operations Boundary
24
Table 1. Virgin Deposit MRE at a lower cutoff of 0.20 g Au/t is summarized below*: Classification Tonnage – Au
(million metric tonnes)
Au Grade (grams
per tonne)
Contained Au** (troy
ounces)
Ag Grade (grams per
tonne)
Contained Ag** (troy
ounces)
AuEq Grade
(grams per tonne)
Contained AuEq****
(troy ounces)
Inferred 7.74 0.83 205,800 14.22 3,537,300 1.00 248,300
*Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There has been insufficient exploration to allow for the classification of the inferred resources tabulated as a indicated or measured mineral resource, however, it is reasonably expected that the majority of the inferred mineral resources could be upgraded to indicated or measured mineral resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future. **Reported resources have been constrained within a US$1500/ounce of gold pit shell. ****Contained ounces may not add due to rounding. AuEq is based upon a ration of 80:1 Ag to Au. Table 2. Sensitivity analysis of the Virgin Deposit mineral resource estimate at various cut-offs:
Cutoff Tonnage – (million metric tonnes)
Au Grade (grams per
tonne)
Contained Au** (troy
ounces)
Ag Grade (grams per
tonne)
Contained Ag** (troy
ounces)
AuEq Grade
(grams per tonne)
Contained AuEq***
(troy ounces)
0 9.01 0.73 211,200 13.49 3,909,700 0.89 258,100 0.1 8.67 0.76 210,600 13.82 3,850,500 0.92 256,800
0.14 8.43 0.77 209,600 13.92 3,773,100 0.94 254,900 0.2 7.74 0.83 205,800 14.22 3,537,300 1.00 248,300 0.3 6.43 0.95 195,300 14.85 3,068,900 1.12 232,100 0.4 5.14 1.09 180,800 15.58 2,574,100 1.28 211,700 0.5 4.14 1.25 166,400 16.29 2,171,300 1.44 192,500
Lewis Project – Virgin Deposit MRE
Operational Synergies of the Lewis Project
25
Non GAAP Financial Measures
Non-GAAP Financial Measures
The Company has included certain non-GAAP financial measures in this presentation, including cash costs and all-in sustaining costs (AISC) per ounce of gold sold.These non-GAAP financial measures do not have any standardised meaning. Accordingly, these financial measures are intended to provide additional informationand should not be considered in isolation or as a substitute for measures of performance prepared in accordance with International Financial Reporting Standards(“IFRS”).
Cash Costs
Cash costs are reflective of the cost of production. The Company reports cash costs on an ounces of gold sold basis. Other companies may calculate thesemeasures differently and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Cash costsreported by Gold Standard includes mining, processing, transport, refining, general administration costs of the mine operations and royalties, but are exclusive ofamortization, reclamation, capital and exploration costs and net of any value of the by-products.
All-in Sustaining Costs
This presentation refers to expected AISC per ounce which is a non-GAAP measure however is a measure the Company believes more fully-defines the total costsassociated with producing gold. This measurement has no standardized meaning under IFRS, accordingly there may be some variation in method of computationof “all-in sustaining costs” as determined by the Company compared with other mining companies. AISC reported by Gold Standard includes mine cash costs, landaccess payments, royalties, and sustaining capital expenditures, but excludes non-sustaining capitalized stripping and end of life reclamation costs. The life ofmine AISC of $707/oz USD increases to $719/oz USD if end of mine life reclamation costs are included in accordance with the World Gold Council guidance onAISC.
26
[email protected] www.goldstandardv.com
Suite 610 - 815 West Hastings Street Vancouver, BC. Canada V6C 1B4 T:604-669-5702 F:604-687-3567
NYSE AMERICAN: GSV | TSX: GSV