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Dalradian investor presentation feb 19 2012

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    Dalradian investor presentation feb 19 2012 Dalradian investor presentation feb 19 2012 Presentation Transcript

    • Advanced  Canadian  Explora9on  │    Investor  Presenta9on  February  2012   Patrick  F.  N.  Anderson   Chairman  and    Chief  Execu9ve  Officer  
    • Forward-­‐Looking  Statement  &  Qualified  Person  This  presenta9on  contains  “forward‑looking  informa9on”  which  may  include,  but  is  not  limited  to,  statements  with  respect  to  the  comple9on  of  the  acquisi9on  (the  “Acquisi9on”)  by  the  Company  from  a  group  of  private  vendors  of  approximately  1.7  million  hectares  of  mineral  rights  over  four  greenstone  belts  and  a  historic  silver  mining  camp  in  Norway,  future  financial  or  opera9ng  performance  of  the  Company  and  its  mineral  projects,  the  future  price  of  metals,  the  es9ma9on  of  mineral  resources,  the  realiza9on  of  mineral  resource  es9mates,  the  9ming  and  amount  of  es9mated  future  produc9on,  costs  of  produc9on,  capital,  opera9ng  and  explora9on  expenditures,  costs  and  9ming  of  the  development  of  new  deposits,  costs  and  9ming  of  future  explora9on,  requirements  for  addi9onal  capital,  government  regula9on  of  mining  opera9ons,  environmental  risks,  reclama9on  expenses,  9tle  disputes  or  claims  and  limita9ons  of  insurance  coverage.  OSen,  but  not  always,  forward‑looking  statements  can  be  iden9fied  by  the  use  of  words  and  phrases  such  as  “plans,”  “expects,”  “is  expected,”  “budget,”  “scheduled,”  “es9mates,”  “forecasts,”  “intends,”  “an9cipates,”  or  “believes”  or  varia9ons  (including  nega9ve  varia9ons)  of  such  words  and  phrases,  or  state  that  certain  ac9ons,  events  or  results  “may,”  “could,”  “would,”  “might”  or  “will”  be  taken,  occur  or  be  achieved.  Forward-­‐looking  statements  are  based  on  the  opinions  and  es9mates  of  management  as  of  the  date  such  statements  are  made  and  are  based  on  various  assump9ons,  such  as  approvals  from  the  Toronto  Stock  Exchange  and  the  Norwegian  Directorate  of  Mining  will  be  obtained  in  respect  of  the  Acquisi9on,  the  con9nued  poli9cal  stability  in  Northern  Ireland  and  Norway,  that  permits  required  for  the  Company’s  opera9ons  will  be  obtained  in  a  9mely  basis  in  order  to  permit  the  Company  to  proceed  on  schedule  with  its  planned  drilling  programs,  that  skilled  personnel  and  contractors  will  be  available  as  the  Company’s  opera9ons  con9nue  to  grow,  that  the  price  of  gold  will  be  at  levels  that  render  the  project  economic,  or  that  the  Company  will  be  able  to  con9nue  raising  the  necessary  capital  to  finance  its  opera9ons  and  realize  on  mineral  resource  es9mates.  Forward‑looking  statements  involve  known  and  unknown  risks,  uncertain9es  and  other  factors  which  may  cause  the  actual  results,  performance  or  achievements  of  the  Company  to  be  materially  different  from  any  future  results,  performance  or  achievements  expressed  or  implied  by  the  forward‑looking  statements.  Such  factors  include,  among  others,  general  business,  economic,  compe99ve,  poli9cal  and  social  uncertain9es;  the  actual  results  of  current  explora9on  ac9vi9es;  actual  results  of  reclama9on  ac9vi9es;  conclusions  of  economic  evalua9ons;  changes  in  project  parameters  as  plans  con9nue  to  be  refined;  future  prices  of  metals;  possible  varia9ons  of  ore  grade  or  recovery  rates;  failure  of  plant,  equipment  or  processes  to  operate  as  an9cipated;  accidents,  labour  disputes  and  other  risks  of  the  mining  industry;  poli9cal  instability;  delays  in  obtaining  governmental  approvals  or  financing  or  in  the  comple9on  of  development  or  construc9on  ac9vi9es,  as  well  as  those  factors  discussed  in  the  sec9on  en9tled  “Risk  Factors”  in  the  Company’s  Annual  Informa9on  Form.    Although  the  Company  has  aempted  to  iden9fy  important  factors  that  could  cause  actual  ac9ons,  events  or  results  to  differ  materially  from  those  described  in  forward‑looking  statements,  there  may  be  other  factors  that  cause  ac9ons,  events  or  results  to  differ  from  those  an9cipated,  es9mated  or  intended.  Forward‑looking  statements  contained  herein  are  made  as  of  the  date  of  this  presenta9on  and  the  Company  disclaims  any  obliga9on  to  update  any  forward‑looking  statements,  whether  as  a  result  of  new  informa9on,  future  events  or  results,  except  as  may  be  required  by  applicable  securi9es  laws.  There  can  be  no  assurance  that  forward‑looking  statements  will  prove  to  be  accurate,  as  actual  results  and  future  events  could  differ  materially  from  those  an9cipated  in  such  statements.    Accordingly,  readers  should  not  place  undue  reliance  on  forward‑looking  statements.  Some  technical  data  in  this  presenta9on  was  taken  from  the    technical  report  en9tled  “A  updated  Mineral  Resource  Es9mate  for  the  Curraghinalt  Gold  Deposit  Tyrone    Project,  County  Tyrone  and  County  Londonderry,  Northern  Ireland  dated  January  10,  2012,  prepared  by  B.  Terrence  Hennessey,  P.Geo.,  and  Dibya  Kan9  Mukhopadhyay,  M.Sc.,  MAusIMM,  of  Micon  Interna9onal  Limited  (the   Technical  Report ).  Damien  Stephens,  BSc.(hons),  M.AIG,  M.AusIMM,  Explora9on  Manager,  Dalradian  Resources,  is  the  Qualified  Person  who  supervised  the  prepara9on  of  the  technical  data  in  this  presenta9on.  John  McCombe,  PEng,  Chief  Opera9ng  Officer,  Dalradian  Resources  Inc.,  is  the  Qualified  Person  who  supervised  the  prepara9on  of  the  technical  data  in  this  presenta9on.       2
    • Corporate  Informa=on   STOCK  PRICE  TSX   DNA   $1.85Shares  outstanding     83.2  million   $2.50 Feb. 17, 2012Fully  diluted         93.4  million  Market  cap.     $154  million   $2.00(Feb.  17,  2012)  Average  volume   72,576  (30  day)   $1.5052  Week  range   $2.42  -­‐  $1.27   $1.00 Andrew  Mikitchook  Analyst  coverage       Jamie  Spra   $0.50   Craig  Stanley   $0 Sep Oct Nov Dec Jan Feb 2011 2011 2011 2011 2012 2012All  dollars  quoted  in  $  CAD   3
    •  A  Growing  Explora=on  Company      NORTHERN  IRELAND      NORWAY   §  Current  high-­‐grade  2.7M  ounce  gold   §  Posi9oned  for  discovery  with  4   resource  (all  categories)1   greenstone  belts  &  historic  silver  camp   §  Drills  turning   §  Data  capture  underway   §  Approx.  84,000  ha  property   §  Approx.  1.7M  ha  of  property   §  Mining  friendly  country   §  Mining  friendly  country   –  Government  investment  in   –  Government  investment  in   geological  surveys   geological  surveys   –  Excellent  infrastructure   –  Excellent  infrastructure   §  DNA  second  largest  mineral  rights   §  DNA  now  largest  mineral  rights  holder   holder  in  Northern  Ireland   in  Norway  1  Refer  to  press  release  en9tled  “Dalradian  Announces  Resource  Increase  at  Curraghinalt”  at  www.dalradian.com   4
    • Our  Board:  A  Track  Record  of  Discovery  and  Development   PATRICK  F.  N.  ANDERSON   KEITH  D.  MCKAY   CHAIRMAN  AND  CHIEF  EXECUTIVE  OFFICER   CHIEF  FINANCIAL  OFFICER   Former  CEO  of  Aurelian  Resources     Former  CFO  of  Aurelian  Resources     Also  Director  of  Colossus  Minerals,     Also  Director  of  Noront  Resources   Malbex  Resources  and  Con=nental  Gold     COLIN  K.  BENNER   THOMAS  J.  OBRADOVICH   CHAIRMAN  OF  DELTA  MINERALS  AND  AURICO  GOLD   CHAIRMAN  OF  LAGO  DOURADO  MINERALS  LTD.   Also  Director  of  Mercator  Minerals,  Lundin  Mining,   Former  CEO  of  Young-­‐Davidson  Mines   Troon  Ventures,  and  Corsa  Capital   Former  Director  of  Aurelian  Resources   JOSEPH  F.  CONWAY   SEAN  E.  O.  ROOSEN   CEO  OF  PRIMERO  MINING  CORP.   CEO  OF  OSISKO  MINING  CORPORATION   Former  CEO  of  IAMGOLD   Also  Director  of  Rio  Novo  Gold,  Bowmore   Explora=on  and  Astur  Gold   RONALD  P.  GAGEL   ARI  B.  SUSSMAN   Former  SVP  and  CFO  of  FNX  Mining   EXECUTIVE  CHAIRMAN  OF  COLOSSUS  MINERALS   Also  Director  of  Adriana  Resources  and   CEO  OF  CONTINENTAL  GOLD  LIMITED   Stonegate  Agricom     5
    • Board:  Worldwide  Project  Experience   Kemess North Kemess South Zinkgruvan Curraghinalt Galmoy Aguablanca Young-Davidson Mineral Park Neves-Corvo El Chanate Ocampo Hammond Reef Guadalupe y Calvo San Dimas Buritica El Cubo-Las Torres Serra Pelada Fruta del Norte Tenke Fungurume Del Carmen Stawell Fosterville Delta Minerals PATRICK  F.  N.  ANDERSON   KEITH  MCKAY   COLIN  K.  BENNER   THOMAS  J.  OBRADOVICH   Coal   Precious  metals   Base  metals   Base  metals   Precious  metals   Diamonds   Precious  metals   Precious  metals   JOSEPH  F.  CONWAY   SEAN  E.  O.  ROOSEN   RONALD  P.  GAGEL   ARI  B.  SUSSMAN   Precious  metals   Precious  metals   Precious  metals   Precious  metals   Base  metals     6
    • Northern  Ireland     NORTHERN U.K. & BRITISH IRELAND§  Our  flagship  asset:   ISLES Curraghinalt  mesothermal   Curraghinalt high-­‐grade  gold  deposit   Deposit§  Excellent  regional  infrastructure   Lonmin§  Over  84,000  hectares  under  explora9on  §  Poten9al  exists  for  further  precious   Irish Salt Mining and  base  metals  deposits   Gortin Rousky Cavanacaw Galantas Gold Omagh BELFAST Conroy Diamonds & Gold In production Exploring for Platinum and Extensive since late gold along a palladium underground 2007 50 km trend exploration mining 7
    • Explora=on  Data  Acquisi=on,  Compila=on  and  Interpreta=on  •  Geophysics  •  Geochemistry  •  Prospec9ng  •  Mapping  •  Target  defini9on   8
    • Curraghinalt  Trend  §  Glaciated   terrain  with   minimal   outcrop  §  Drilling  is   primary   explora9on   tool   9
    • Curraghinalt:  Open  Along  Strike  •  November 30, 2011 – Resource update Increasing Curraghinalt to 2.7 M ounces•  September 6, 2011 – Drilling at Curraghinalt intersects 8.34 metres of 5.84 g/t gold and 3.2 metres grading 5.34 g/t gold. Additional parallel veins discovered to the South of the deposit.•  June 8, 2011 – Drilling at Curraghinalt intersects 2.06 metres of 111.6 g/t gold and 1.11 metres grading 26.84 g/t gold•  April 7, 2011 – Hole 11-CT-85 cut 2.54 metres of 20.61 g/t gold•  February 28, 2011 – Hole 10- CT-76 cut 2.74 metres of 15.27 g/t gold•  December 2, 2010 – Hole 10- CT-73 cut 1.83 metres of 37.41 g/t gold•  October 14, 2010 –Two new parallel veins discovered 10
    • 3D  Schema=c  of  Veins  &  Adit:  looking  west   11
    • Development  Timeline   Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar ‘12 ’13 Preliminary Economic Assessment Environmental Baseline Study U/G Drill Permit Appn U/G Permitting Process U/G Drilling U/G Exploration Dvlpt Application U/G Exp Dvlpt Permitting Process U/G Exp Dvlpt 12
    • Explora=on  Targets  §  In  addi9on  to  Curraghinalt  we  are  ac9vely  tes9ng  other  high  priority  explora9on  targets  §  Including:   –  Scotchtown   •  Along  trend  east  of  Curraghinalt   •  Subcrop  up  to  10  g/t  Au   –  Alwories   •  Along  trend  west  of  Curraghinalt   •  Vein  in  quarry  returned  1.88  metres  @  20.8  g/t   –  Glenlark   •  Separate  trend,  historic  adits   •  1km  long  anomaly   •  Float  sample  up  to  47  g/t  Au   –  Cashel  Rock   •  Historic  drill  with  high  grades  –  peak  of  3.63  metres            metres  @  30.12  g/t  Au   •  Mineralized  by  Rhyolite  breccia  pipe   13
    • Next  Steps:  Northern  Ireland  §  Development:   –  Preliminary  Economic  Assessment   –  Submission  of  permit  applica9ons   •  Underground  explora9on   •  Water  discharge    §  Explora=on:   –  Curraghinalt  trend  drilling   –  High  priority  explora9on  target  drilling    §  Corporate  Social  Responsibility   –  Enhance  CSR  strategy  and  leverage  best  prac9ces   14
    • Norway: 2011 Mineral Strategy Industry Minister, Trond Giske at Press conference announcing new direction in15 mineral strategy for Norway
    • Another  Mining  Friendly  Jurisdic=on  •  The  new  Mineral  Act  legisla9on  passed  in   January  2010  to  promote  mining  ac9vi9es  •  Minister  of  Industry  announces  large   investment  over  4  years  to  iden9fy  mineral   resources  •  Dalradian  has  acquired  mineral  rights  over   6  areas  including  four  greenstone  belts  and   an  historic  silver  mining  camp  •  Proper9es  total  more  than  1,700,000   hectares   16
    • Greenstone  Belts  1.  Kiclä  Gold  Mine   •  Largest  gold-­‐mine  in  Europe   •  Total  combined  MI&I  =  6.8Moz  Au  2.  Saka=llampi  Discovery     •  Possibly  largest  nickel-­‐copper  deposit  discovery   in  Europe  (reported  samples  of  4%Ni)   •  Announced  by  AngloAmerican  on  November  3rd,   2011  3.  Pechenga  District   •  In  Russia  ~  25km  from  Norwegian  border       •  Probable  reserves  of  150Mt  @  1%  Ni  and  Proven   Reserves  of  30Mt  @  2%  Ni,  1%  Cu,  0.04%  Co  4.  Bidjovagge  Gold-­‐Copper  Mine   •  Historical  produc9on  of  greater  than  200,000   ounces  of  Au  &  14  M  pounds  of  Cu   17
    • Northern  Concessions  •  Greenstone  belts  of  northern  Finland  host   the  Kiyla  6.8  Moz  gold  mine  and  the  newly   discovered  Anglo  American  Ni-­‐Cu  discovery.  •  Land  posi9on  covers  more  than  70%  of  the   strike  extension  of  these  same  greenstone   belts  in  Norway.  •  Remarkably  underexplored  with  one  historic   gold  mine  and  abundant  alluvial  gold   occurrences.  •  Good  infrastructure  with  large  popula9on   centres,  paved  highways  and  thin  or  absent   forest  cover   18
    • Southern  Concessions  Kongsberg    •  Produc9on  from  17th  century  to  mid  20th  century  •  Es9mated  40M  ounces  of  silver  mined  with  average  cut  off   grades  of  over  400  g/t  •  Was  once  the  largest  mining  district  in  Europe   19
    • Next  Steps:  Norway  •  Data  acquisi9on/compila9on  •  Data  analysis  •  Boots  on  the  ground  •  Target  Selec9on  •  Ground  Truthing  •  Drill,  drill,  drill…   20
    • Appendix21
    • The  Tellus  Project  and  Explora=on   LICENSE  MAP  BEFORE   THE  TELLUS  PROJECT   22
    • The  Tellus  Project  and  Explora=on   LICENSE  MAP  AFTER   THE  TELLUS  PROJECT   23
    • 3  Explora=on  Trends  -­‐  Magne=cs   24
    • Ac=ve  Resource  Industry  in  County  Tyrone  There are approximately 150 quarries across Northern Ireland 25
    • Ac=ve  Resource  Industry  in  County  Tyrone   2010                 2011                                 2010  Inferred   2011    Inferred   Vein   M+I                     M+I                     Ounces  (1)   Ounces  (2)   Ounces   (1)   Ounces   (2)   No.  1   102,929   306,135   123,778   596,969   106-­‐16   100,202   314,128   162,035   429,048   T17   86,245   234,165   56,055   307,339   Crow   0   15,580   0   282,568   Bend   0   24,379   0   213,344   V75   18,982   21,234   32,874   100,937   Sheep  Dip   3,595   23,808   6,809   69,107   Mullan   3,140   42,774   1,797   57,346   Road   0   0   4,677   53,002   Others   113,351   173,484   82,875   122,803   Total  Ounces   428,444   1,155,687   470,899   2,232,464   (1)  43-101 resource by Micon dated May 10, 2010 (2)  43-101 resource by Micon dated Jan 10, 2012, effective date November 30, 2011 26
    • A Growing European Precious Metals Explorer Patrick F. N. Anderson Chairman & Chief Executive Officer Investor Relations Shae-Lynn Mathers Director, Investor Relations 416.583.5622 Trading Symbol: DNA on TSX Executive Office: Dalradian Resources Inc. 155 Wellington Street West Suite 2920 Toronto, Ontario Canada M5V 3H1 www.dalradian.com