Miocene Metals Presentation (TSXV: MII)

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Miocene Metals (TSXV: MII) offers exceptional discovery potential within an area close to existing infrastructure in southwestern BC. …

Miocene Metals (TSXV: MII) offers exceptional discovery potential within an area close to existing infrastructure in southwestern BC.

Miocene Metals was founded in 2010, to acquire and explore Wallbridge's BC properties, and completed its IPO and listing on the TSXV in August 2011. Miocene is modelled after Wallbridge Mining's (WM:TSX) successful spinout of Duluth Metals (DM:TSX).

Miocene Metals completed its IPO and began trading on the TSX Venture Exchange on August 9, 2011.

Since the initial discovery of copper mineralization at Rogers Creek in 2008, and the recognition of the under-explored mineral potential within the BC portion of the Cascade Magmatic Arc, Miocene has identified large porphyry style copper-gold alteration/mineralization systems on its MacKenzie and Rogers Creek properties, and confirmed the presence of a 15 kilometre trend of molybdenum occurrences on its Salal property.

Miocene Metals' properties are all located in the Cascade Magmatic Arc, a belt of rocks that stretches from Northern California to the Alaska Panhandle and hosts copper-gold, copper-molybdenum, and copper-molybdenum-tungsten porphyry deposits that largely formed during the Miocene geological age. The Cascade Arc shares many geological characteristics with the Miocene-age porphyry belt that stretches the length of Chile and Argentina in South America and hosts some of the world's largest porphyry copper-gold-molybdenum deposits including Chuquicamata, El Teniente and Los Bronces. This region of southern British Columbia has well-developed power, road and rail infrastructure and all properties generally are within three to four hours of tide-water.

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  • 1. Corporate Presentation March 2014
  • 2. Forward-Looking and Confidentiality Forward‐Looking: This presentation includes statements that may be deemed “forward‐looking statements”. All statements in this presentation, other than those of historical fact, that address expectations regarding the “merger” transaction and contemplated financings, resource potential, exploitation activities and events or developments that Miocene Metals Limited (Miocene) and Carube Resources Inc. (Carube) expect, are forward‐looking statements. Miocene and Carube (the Parties) have relied on assumptions and estimates in making such forward‐looking statements, including without limitation the receipt of all necessary approvals from regulatory authorities having jurisdiction and their shareholders with respect to the “merger” transaction and contemplated financings, the future price of precious metals, metallurgical recovery rates, exploration results and operating costs associated with projected mine plans and development. Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and circumstances existing at this time Although the Parties believe the expectations expressed in such forward looking statements are based on reasonable assumptions readers are cautioned suchtime. Although the Parties believe the expectations expressed in such forward‐looking statements are based on reasonable assumptions, readers are cautioned such statements are not guarantees of future performance and that actual results or developments may differ materially from the forward‐looking statements. Factors that could cause actual results to differ materially from those in the forward‐looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. All of the forward‐looking statements made in this presentation are expressly qualified by this cautionary note. The Parties do not undertake to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws. Cautionary Note to United States Readers Concerning Estimates of “Measured,” “Indicated” and “Inferred Mineral Resources”: This presentation uses the terms “Measured”, “Indicated” and “Inferred Mineral Resources” in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards. United States (US) readers are advised that while such terms are recognized under Canadian securities legislation, the US Securities and Exchange Commission does not recognize these terms. The term “Inferred Mineral Resource” refers to a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. These estimates are based on limited information and it cannot be assumed that all or any part of an “Inferred Mineral Resource” will be upgraded to a higher classification resource, such as “Indicated” or “Measured”, lt f ti d l ti A di l ti t l ti t “I f d Mi l R ” i i ffi i t t ll i f l li ti f t h i l das a result of continued exploration. Accordingly, an estimate relating to an “Inferred Mineral Resource” is insufficient to allow meaningful application of technical and economic parameters or to enable an evaluation of economic viability. Under Canadian securities legislation, estimates of an “Inferred Mineral Resource” may not form the basis of feasibility or other economic studies. As a result, US readers are cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists, or is economically or legally mineable. Readers are also cautioned not to assume that all or any part of “Measured” or “Indicated Mineral Resources” will ever be converted into “Mineral Reserves” (being the economically mineable part of an “Indicated” or “Measured” Mineral Resource). Confidentiality and Disclaimer: The information contained in this presentation is provided by the Parties concerning their respective histories, businesses, properties,Confidentiality and Disclaimer: The information contained in this presentation is provided by the Parties concerning their respective histories, businesses, properties, management personnel and capitalizations on a strictly confidential basis and is not to be reproduced in whole or in part in any form, electronic or otherwise, or presented to others. The information contained herein describes proposed transactions which could lead to the effective “merger” of the two Parties and the required financing necessary to effect and complete the transactions. It is not intended to provide legal, accounting or tax advice and should not be relied upon in that respect. No warranty, representation or guarantee with respect to the accuracy, timeliness or completeness of the information is given. This presentation has been prepared for the benefit of persons already familiar with the parties through prior investment or business contacts and for persons who rely on their own independent due diligence. This presentation is not, and under no circumstances is it to be construed as, a prospectus, an advertisement, an offering memorandum or a public CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 2 offering of securities. No securities commission or similar regulatory authority has passed on the merits of this presentation and any representation to the contrary is an offense. Reference is also made to the cautions contained in the (i) “forward‐looking statements” and (ii) any statements concerning estimates of resources. Currency:, All dollars ($) are Canadian dollars., unless noted otherwise .
  • 3. Management VERN RAMPTON, Ph. D., P. Eng. – President, CEO, Director • Over 35 years experience in mineral exploration, development and corporate management • President and CEO ‐ Kinbauri Gold Corp from 1984 until its takeover in 2009 • Geological Survey of Canada 1969 – 1974; Consultant 1975 – 2004 JOHN MCNEICE, C.A. ‐ CFO • Over 20 years experience in domestic and foreign public companies: accounting; auditing; management • Lead numerous financings, totalling over $100 million • CFO: Ur‐Energy Inc, 2004‐2007; Aura Silver Resources Inc, 2004‐present, Mazorro Resources  JEFFREY ACKERT BSc (Geology) Vice President Exploration DirectorJEFFREY ACKERT, BSc. (Geology) ‐ Vice‐President Exploration, Director • Over 30 years experience in mineral exploration and mine management • Lac Minerals, 1990‐1994; Barrick Gold Corp, 1994‐1996, VP Exploration and VP Technical Services‐Orezone  Resources Inc, 1996‐2007 • Director Advance Gold Corp. 2007‐present CHRIS IRWIN, B.A., LL.B  ‐ Corporate Secretary • Practicing securities and corporate/commercial law for over 15 years • Director and/or officer of a number of public companies, including Trelawney Mining (past) and Canadian Lithium  Corp (present). TREVOR MCCAIN, M. Sc. (Natural Resource Management) – Country Manager Jamaica  • Broad experience in exploration geology, mine planning, laboratory and corporate management • Worked for Cominco, Citadel Mines, Caribbean Ecosystems, University of West Indies, Jamaican Mines and  Geology, UC Rusal Alumina CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 3 SHELLEY‐ANNE FORTE‐SYKES, LL.B. (honours) – Secretary and Corporate Counsel for Jamaican Subsidiaries  • Practising law at HMF since 1990, primarily property acquisition, commercial, mining and maritime law • Mr. Hugh Hart, founder and principal of HMF, former Minister of Mines and Advisor to Ministry
  • 4. Board of Directors ALAR SOEVER P Geol – Director and Chairman of the BoardALAR SOEVER, P Geol. – Director and Chairman of the Board • Thirty‐five years of mineral exploration and development plus corporate restructuring and finance experience • Executive Chairman of Wallbridge Mining and Director of Duluth Metals • Chairman and Interim CEO of Miocene Metals Limited VERN RAMPTON, Ph. D., P. Eng. – President, CEO, Director, , g , , • Over 35 years experience in mineral exploration, development and corporate management • President and CEO ‐ Kinbauri Gold Corp from 1984 until its takeover in 2009 • Geological Survey of Canada 1969 – 1974; Consultant 1975 – 2004 JEFFREY ACKERT, BSc. (Geology) ‐ Vice‐President Exploration, Director l l d• Over 30 years experience in mineral exploration and mine management • Lac Minerals, 1990‐1994; Barrick Gold Corp, 1994‐1996, VP Exploration & VP Technical Services‐Orezone Resources Inc, 1996‐2007 • Director Advance Gold Corp. 2007‐present MARZ KORD, Mining Engineer – Director • Over 25 years of experience in the mining industry namely operations and management• Over 25 years of experience in the mining industry, namely operations and management • Extensive experience in business growth plans and mergers and acquisition • Presently President, CEO and Director of Wallbridge Mining  GREG LEBLANC, B.A., M.A., ‐ Director • Over thirty‐five years’ experience in the currency and financial industry sectors   • Vice‐President at RBC from 1996 to 2009.  He specialized in commodity and currency trading • Holds positions on the Boards of several quasi‐governmental institutions MARK PFAU, Economic Geologist – Director • Over 30 years of experience in base and precious metals exploration and mine development  H ld l Chi f G l i E l i M d VP E l i CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 4 • Held several Chief Geologist, Exploration Manager, and V.P. Exploration  • Has worked throughout Latin America and Mexico, central and south‐east Asia, and South Africa.  • A recognized qualified person under Geology and Ore Reserves with the Mining and Metallurgical Society of America
  • 5. Highlights • Merger of private Canadian mineral exploration company – Carube Resources Inc. and  public company – Miocene Metals Limited (MII.TSXV) – announced November 26,2013. • Results in a TSXV listed company with major funding partner OZ Exploration (OZ)• Results in a TSXV listed company with major funding partner, OZ Exploration (OZ),  wholly‐owned subsidiary of OZ Minerals (OZL:ASX), an A$1.0 B Australian copper‐gold  producer with a proven track record of exploration success.  • OZ recently invested $960 K of equity capital into CarubeOZ recently invested $960 K of equity capital into Carube • Agreement in place with OZ for up to an additional $27.9M of staged joint venture  funding on Carube’s Jamaican properties over 5 to 6 years, assuming OZ exercises all  of its optionsp • The merged company with a dominant copper focus  – 6 copper‐gold exploration licenses in Jamaica 2 porph r copper gold properties in so th estern BC– 2 porphyry copper‐gold properties in southwestern BC – 1 PGE exploration project in Quebec – 1 molybdenum property in southwestern BC CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 5
  • 6. Capitalization Post Merger The merged company will have approximately • Cash on Hand:  ~$1.0 Million • Shares Outstanding:  ~60 Million  • Warrants:  330,000 at $1.00* and up to 9.75 million  at $0.30 • Options:  584,000 at $1.70* • Market Capitalization:  ~$12 Millionp $ • Significant Shareholders:  Tigers Realm Group (15%)  Wallbridge Mining (13%)Wallbridge Mining (13%) OZ Minerals (8%) Directors and Management (13%) CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 6 * Post‐consolidation Miocene Warrants and Options
  • 7. Jamaica Infrastructure Montego Bay Kingston Rocky Point Bauxite Plant Railway Major Road Port Sixty years of bauxite mining Noranda Aluminum Holdings y CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 7 Bauxite PlantNoranda Aluminum Holdings,  Rusal, Alcoa, Alcan
  • 8. Carube’s Jamaican Licenses SIX LICENSES TOTALLING 268 SQ. KM Formidable Cu‐Au‐Ag Prospects These Licenses cover  most of Jamaica’s  prospective terrain for  Cu, Au and Ag CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 8
  • 9. Caribbean Copper-Gold Province C ibb PlCaribbean Plate CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 9
  • 10. Bellas Gate Project Attributes Seven identified Cu porphyriesSeven identified Cu‐porphyries • 13.2Mt @ 0.35% Cu, 0.17g Au/t* • 10.7Mt @ 0.44% Cu, 0.27g Au/t** • Up to 166m of 0.56% Cu Large potential High Porphyry Potential Areas g p • Recent drilling by Carube indicates potential for  large increase in tonnage • Large Cu Anomaly: Potential for porphyry or IOCG (1)  targets • Strong NE trending structural and alteration zones  indicate excellent potential for porphyry clusters Two colonial mines • Stamford Hill: 450,000 tons of 5% CU*** • Charing Cross: 145,000 tons of 9% Cu*** • Significant Au/Ag credits• Significant Au/Ag credits High grade mineralization • 35+ showings • Up to 45% Cu, 77g/t Au, 4378g/t Ag**** • Quartz‐carbonate‐sulphide veins(2) Coffee Copper Anomalyp • Shear zones (dykes) and skarns • Carube drilling and trenching indicates continuity * Historical Inferred Resource in 2008: Sufficient work has not been completed to  verify it as a current resource. Drilling is being completed or planned to verify and  extend the resource. ** Non compliant historical resource from 1969: It cannot be relied upon because Targeting 500Mt + of CU‐Au porphyry grading  in excess of 0.4% copper equivalent CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 10 ** Non‐compliant historical resource from 1969: It cannot be relied upon because  sufficient work has not been completed to verify it as a current resource. ***Historical Resource estimate from pre‐1865: it cannot be relied upon because sufficient work has not been completed to verify it as a current resource. **** Results, in part, historical grab and trench samples. (1) Candelaria (600Mt @ 0.58% Cu, 0.13g Au/t) Model: high tonnage example (2) Magma Mine (13.7Mt @ 5.7% Cu, 1.9 oz Ag/t Model: high grade example
  • 11. Work by Carube More than $2.8M spent  over the last three years • A total of 6,500 soil samples collected in 2011‐2012 • Trenching totalling 800 metresTrenching totalling 800 metres • Drill program totalling 3,500 metres in 2012 – 16 shallow holes on structural targets – 7 ‐ 300m core holes on Camel Hill Porphyry7  300m core holes on Camel Hill Porphyry • 207m  of 0.27% Cu, 0.147 g/t Au • 135m of 0.37% Cu, 0.13g/t Au • Holes peripheral to core of porphyry systemHoles peripheral to core of porphyry system • This work plus the compilation of historic data has defined  – 14 high quality targets on the Bellas Gate Project  – 4 targets drill ready to be the immediate focus for drilling by OZ JV– 4 targets drill ready, to be the immediate focus for drilling by OZ JV  – Each target has the potential to be of economic interest CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 11
  • 12. Bellas Gate Project: 14 JV Targets; 4 Drill Ready Ginger Ridge: >900m x 200m ridge extended  NW from Connors. Strong stockwork and  sheeted veining in leached cap with coincident  soil anomaly). Connors:  Area of 200m x 200m defined  by historic drilling with intercepts  averaging 45m @ 0.71%CuEq (0.59%Cu,  soil anomaly).  g g @ % q ( % , 0.28g/t Au) Kola: ~1km x 300m coincidentKola: ~1km x 300m coincident  magnetic high, potassium  radiometrics high and  Cu soil  anomaly (>200ppm Cu)  Weebar Hill: ~1km x 1km zone of Ba and Zn soil  anomalies associated with  Cu anomaly  and  dyke‐related  high grade Cu occurrences  CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 12 (max 23% Cu) above a buried magnetic feature  suggest roof zone setting above a buried porphyry 
  • 13. Bellas Gate Project Exploration Potential • An excellent comparative are the  Northparkes cluster of deposits,  New South Wales,  Australia. After  18 years of mining at Northparkes Northparkes cluster of porphyry deposits  superimposed  on Bellas Gate Project (“BGP”) Boundary of BGP18 years of mining at Northparkes,  Reserves and Resources were as  shown in table opposite. • Northparkes porphyry deposits of BGP Northparkes porphyry deposits           would fit within the Bellas Gate  Project area. Northparkes Reserves/Resources CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 13 Source: Butcher et al; Northparkes Mines: Australasian Mining and Metallurgical Operating Practices (AMMOP) 2013
  • 14. Ginger Ridge Porphyry Copper Gold Target • Greater than 900m long with outcrop showing extensive stock‐ k i i d l hi ith thwork veining and leaching with the presence  of “live limonite” • “It is remarkable that the Ginger Ridge area does not have  a single drill hole, as any outcropping leached cap in Arizona or  CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 14 Chile with these characteristics would have multiple holes.”   — International Porphyry Consultant (private confidential report)
  • 15. Kola Porphyry Copper Gold Target 1.1 km by 300 m soil geochemical anomaly coincident  with magnetic and potassium anomaly  Magnetic Signature Potassium Signature CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 15
  • 16. Other Licences: Blue Sky Potential 1. Mt. Royal and Belvedere: Above Rocks Project • Glengoffe: Mineralized Porphyry 0.3 – 0.8% Cu • Sue River: Grab samples from shear zone  up to 6.8% Cu J b Hill C id t 5% C Bellas Gate and Browns Hall:  Bellas Gate Project • Jobs Hill: Copper oxide up to 5% Cu • Florence Hill, Kingweston, Providence:  Mineralized porphyries and magnetite‐sulphide  veins with up to 3.2% Cu over 1m • Allman Hill: Tonalite and potassic altered granite;  trench results 0.5% Cu over 58m • Mt Charles – Border: Stream sediment results  up to 1710ppb Au 2. Hungry Gully Project • Dunrobin and Diggins Ridge: porphyry target with  soils up to 4500ppm Cu • Round Hill: Au‐epithermal target; Soils up  to 1500ppb Au 3. Main Ridge Project • Gold anomaly in soils over 1km in length • Adjacent gold deposit with 94,000t at 13.9 g Au/t • Large untested copper in soil anomaly CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 16 Note: All listed data is historical, having been collected over the last 65 years. Enough work has not been completed to verify all reported analytical data even  though Carube has  reviewed the data and the geological setting and grades obtained at certain localities have been confirmed.  
  • 17. OZ Minerals Funding and Joint Venture • OZ has invested $960K in equity in Carube to assist in buying out the vendor  of the Bellas Gate Project in Jamaica (Buyout total cost : US$1,685,600 plus  1 571 373 shares of Carube)1,571,373 shares of Carube). • Joint Venture has OZ earning 70% interest in the Bellas Gate Project by spending  $6 5M and making payments totaling $475K to Carube over 3 5 years; OZ can then$6.5M and making payments totaling $475K to Carube over 3.5 years; OZ can then  increase their interest a further 10% by completing a feasibility study (BGP‐JV). U l ti i b h i l i th th 3 j t• Upon completing an airborne geophysical survey, covering the other 3 projects  (4 licences) and costing up to $600K, OZ will have the right to option/earn a 70%  interest in each of these projects by spending $6.5M and making payments  totaling $275K to Carube on each optioned project over 5 years (other termstotaling $275K to Carube on each optioned project over 5 years (other terms  similar to BGP‐JV). CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 17
  • 18. Provision of Funds Approximately $3.9M in funding (October, 2013 through May, 2015) required to meet the conditions  precedent of the OZ Joint Venture and the Heads of Agreement relating to the Miocene merger. This is  being completed as follows :  1 C b i t l t it ( h l ½ t) i t th Mi1. Carube private placement units (one share plus ½ warrant) prior to the Miocene merger  2. Carube/Miocene subscription receipts concurrent with Miocene merger   R i iPlaced and OZ Minerals Remaining $2,400,000    Maximum Placed and  Committed 24% OZ Minerals $960,000 $2,300,000 Minimum62% 9% 5%Carube $240,000 Miocene $400,000 CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 18
  • 19. Projected Budget Budget addresses projected costs for October, 2013 through May, 2015,   as detailed below: Exploration and Merger and Financing Costs 14% Working Capital $1,640,000 Debt Financing Costs $545,000* 16%42% Debt Settlement $620,000 28% Vendor Buyout $1,085,000 CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 19 * Includes Legal Fees associated with OZ Joint Venture, Rodinia Amendment and all Sponsorship Fees , ,
  • 20. Corporate Developments OZ J i t V tOZ Joint Venture Joint Ventures Term Sheets signed with OZ Purchase of Bellas Gate Property  from original underlying owner completed Work begun on Joint Venture; drilling equipment mobilizedWork begun on Joint Venture; drilling equipment mobilized Carube – Miocene Merger Heads of agreement (HOA) signed with Miocene Support of majority Miocene shareholders receivedSupport of majority Miocene shareholders received Support of principals and required majority of Carube shareholders received Due Diligence completed by Miocene; property due diligence completed by Carube HOA made binding  o TSXV approval required o Carube shareholder meeting and approval required o Miocene shareholders meeting  and approval required Funding Carube and Miocene management have sourced over $600 K of funding  OZ has completed $960K private placement in Carube  CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 20 o Additional funding of $2.3 M to $2.4 M to be sourced by Carube and Miocene (Euro Pacific Canada  engaged as financial agents) 
  • 21. Cascade Magmatic Arc Properties • Three properties cover 680 square kilometres• Three  properties cover 680 square kilometres • Little systematic  modern exploration • Over $4M in exploration by Miocene since 2010 • Widespread alteration and mineralizationWidespread alteration and mineralization           on properties  • Several large deposits within Cascade  Magmatic Arc * • Glacier Peak 1.7 Bt  @ 0.334% Cu +  0.015% MoS2 • Margaret 523 Mt @ 0.36% Cu +  0 24 g/t Au + 0 011% Mo Vancouver 0.24 g/t Au + 0.011% Mo • Giant Copper 45.4Mt @ 0.47% Cu + 0.38g/t Au + 11.2 g/t Ag • Similar to prolific Tertiary porphyry belts in Chile, p y p p y y Peru, USA, Indonesia and Papua New Guinea • Excellent infrastructure  • Good relations with First Nations CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 21 * Historic resources
  • 22. Summary: The Opportunity • The Miocene/Carube properties are at pre‐discovery, drill‐ready stage, offering good  potential for rapid appreciation of asset value. • Exploration funding by major joint venture partner, Australian miner OZ Minerals,  provides outstanding leverage for corporate value generation. • Compilation of historic prospecting and mining activity and previous public and  private‐sector exploration work plus Carube’s more recent work have identified a  numerous high quality targets . OZ joint venture has initiated the first of 4 drill‐ready  targets. • Additional grassroots potential on BC properties for copper‐gold mineralization. • Jamaica and BC are excellent mining‐friendly jurisdictions with good infrastructure to  support mining operations. • Management experienced in domestic and off‐shore exploration. CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 22
  • 23. Summary: Huge Leverage • The Bellas Gate Project joint venture (“JV”) and investments by OZ, provide  Carube/Miocene with huge leverage to increase Carube/Miocene’s asset value. • Funding for the merger generates an investment of $15.3M over 5 years if OZ  exercises one of three possible options on the additional properties; increases  to $22.1M with 2nd additional JV and $28.9M with 3rd additional JV. Item Canadian Dollars OZ Private Placement 960,000 Work Commitments Bellas Gate JV 6,500,000 Option Payments Bellas Gate JV 475,000Option Payments Bellas Gate JV 475,000  Airborne Survey over Licenses 600,000 Total Bellas Gate JV 8,535,000 W k C it t ( t ti l 2nd JV) 6 500 000Work Commitments (potential 2nd JV) 6,500,000 Option payments (potential 2nd JV) 275,000 Total Assuming Bellas Gate plus One Additional JV $15,310,000 CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 23 Total Assuming Bellas Gate plus Two Additional JV $22,085,000
  • 24. CARUBE RESOURCES INC Contacts: Carube and Miocene MIOCENE METALS LIMITEDCARUBE RESOURCES INC. Vern Rampton, President & CEO Tel: 613‐836‐2594 E‐mail vrampton@rogers.com MIOCENE METALS LIMITED Alar Soever, Chairman Tel: 416‐682‐9297 E il @ llb id i i E mail vrampton@rogers.com Jeff Ackert, VP‐Exploration Tel: 613‐851‐7699 E‐mail: jackert@caruberesources.com E‐mail  asoever@wallbridgemining.com Cathy Hume, CHF Group Tel: 416‐868‐1079 E il th @ hfi Darrell Munro  Tel: 613‐836‐0198 E‐mail: dmunro@rogers.com E‐mail cathy@chfir.com Corporate Office P.O. Box 158,  107 Falldown Lane Carp, Ontario  K0A 1L0 Tel: 613‐836‐2594 Corporate Office 129 Fielding Road Lively Ontario P3Y 1L7Fax: 613‐839‐0464 www.caruberesources.com The Qualified Person responsible for the technical content  herein relating to the Carube Properties is  Dr Vern Rampton P Eng President and CEO of Carube Resources Inc Lively, Ontario P3Y 1L7 Tel: 705‐682‐9297 Fax: 888‐316‐4156 www.miocenemetals.com CARUBE RESOURCES INC. l MIOCENE METALS LIMITED TSXV: MII 24 Dr. Vern Rampton, P. Eng., President and CEO of Carube Resources Inc. The Qualified Person responsible for the technical content  herein relating to the Miocene Metals Properties is  Alar Soever, P. Geo., Chairman and Interim CEO of Miocene Metals Limited.