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Goldrich Mining Investor Packet
 

Goldrich Mining Investor Packet

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    Goldrich Mining Investor Packet Goldrich Mining Investor Packet Document Transcript

    • Investor Packet March 2014
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC Corporate Profile Goldrich Mining Company (OTCQB: GRMC) is a U.S. based precious metals exploration and development company focused in Alaska's emerging Chandalar gold district 190 miles north of Fairbanks. Goldrich’s wholly owned Chandalar and adjacent Thazzik Mountain properties comprise approximately 22,850 acres and 13,440 acres, respectively. The Chandalar property has seen historical mining and exploration dating back to the early 1900's, during which time there has been gold production from both lode and placer deposits. Chandalar district resides in the prolific Ambler Schist belt that hosts several world-class deposits including Teck’s Red Dog zinc mine (largest zinc deposit in world) and Nova Gold’s 30-million tonne Ambler VMS copper/zinc project. 2013 Completed Events February-April: Delivery of additional equipment and heavy supplies to camp May: Continued stripping overburden and began stockpiling of pay gravel for processing May-September: Began infill drilling and additional exploration drilling of placer deposit June-September: Production commenced - Targeting 20,000 ounces annually by 2016 2012/2011 Highlights Signed a 50/50 Joint Venture for total estimated financing of $8.5 million with NyacAu, LLC to operate the Chandalar placer operation Completed construction of gold wash plant and closed recirculating water pond system Drilled 25 HQ sized diamond drill holes totaling 14,400 feet (4,400 meters) Drilled two high-profile prospects- 6.57 g/t over 1.5 meters at Aurora prospect and 6.02 g/t gold over 2.1 meters at Rock Glacier prospect Completed geochemical grid survey- over 1,100 samples taken Airborne magnometer survey identified series of anomalies over prospect areas Added to land position- Staked additional 30,880 acres of Alaskan state mining claims to bring total land position to approximately 36,290 acres
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC Chandalar Gold District Located 190 miles north of Fairbanks, Alaska in one of the world's most politically secure mining jurisdictions 100% ownership of entire Chandalar district consisting of a contiguous land-block totaling 36 square miles (92 km2 ) of 23 patented claims and 197 unpatented state claims Evidence for large, sediment-hosted deposits are demonstrated through regional magnetic highs, geochemical gold-arsenic anomalies and widespread gold occurrences District is home to 11 historic (four lode and seven alluvial) mines with production totaling more than 85,000 ounces of gold dating back to early 1900’s Substantial infrastructure in place including 40-person camp, wash plant system, heavy equipment, 4,400-foot (1.3 km) airstrip and 30-mile (48 km) network of roads 2011 Exploration Program In 2011 Goldrich drilled 25 HQ sized diamond core drill holes, totaling 4,400 meters, and tested six high target prospect areas along a four kilometer northeast trending belt. A gridded geochemical soil sampling program was also completed consisting of over 1,100 soil samples. As a result, the Company uncovered a widespread system of gold mineralization and over 50 gold showings over six square miles. Highlighted drill intercepts included: 1.5 meters of 4.39 g/t Au (DDH 0062) 1.5 meters of 6.57 g/t Au (DDH 0062) 2.1 meters of 6.02 g/t Au (DDH 0041) 11.3 meters of 1.08 g/t Au (DDH 0041) 1.5 meters of 4.17 g/t Au (DDH 0060) 0.9 meters of 10.25 g/t Au (DDH 0051) 0.9 meters of 9.44 g/t Au (DDH 0055) 0.9 meters of 14.7 g/t Au (DDH 0056)
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC District Geology & Mineralization The Chandalar district is part of a regional Devonian-aged Ambler Schist belt that extends 600 miles east/west across Alaska along the southern flank of the Brooks Range. The geology is made up of sedimentary, volcanic and intrusive igneous rocks that have been variably metamorphosed, sheared and deformed. Both lode and placer gold mineralization occur throughout the district. Lode mineralization within the Chandalar district feature both sediment-hosted and orogenic-type, low-sulphidation gold mineralization. The most common occurrence of gold mineralization in the district is fault/joint-controlled, high-angle, mesothermal quartz veins. Placer mineralization within the Chandalar district occurs in fairly steep, second- and third- order streams that contain an abundance of locally derived sub-angular to sub-rounded clasts of schist, quartz, and greenstone dike rock. Placer gold deposits in the narrow, incised upper creek valleys occur in pay streaks under 10-to-35 feet of overburden. At distances of two-to-five miles below the heads of the valleys, placer gold exploration has found depth to bedrock to exceed 170 feet with pay streaks on bedrock surfaces. Lode Mineralization: Ribbon quartz gold vein with dark sulfides (arsenopyrite) Placer Mineralization: Angularity of nuggets indicates close proximity to source Similar Districts The geology of Chandalar is comfortably similar to that of many familiar productive lode districts worldwide, with high grade lode targets of sufficient grade to support underground operations and potential lower grade, large tonnage targets amenable to bulk mining. Natalka, Russia 2.1 billion tonnes at 1.63 g/t (110 million ounces of gold) Sukhoi Log, Russia 750 million tonnes at 2.0 g/t (49 million ounces of gold) Chandalar Target 1 billion tonnes at 1.5-2 g/t (48-64 million ounces of gold)
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC Exploration Potential Goldrich has identified almost 30 lode prospects with similar interesting gold values in trenches or surface outcrops. Reconnaissance rock sampling, soil grid sampling and ground magnetic surveys have been useful in helping delineate the lode systems and extend the mineralization and/or controlling structures along strike.
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC Placer Properties In addition to its lode gold targets, Goldrich has drilled out the upper portion at one of the seven alluvial deposits on its Chandalar property. The Company discovered a deposit containing approximately 10.5 million cubic yards at an average grade of 0.025 ounces gold per cubic yard (approximately 250,000 ounces of gold*) which remains open for expansion with further drilling. Chandalar district is home to seven past producing alluvial mines Provides substantial cash flow to further develop lode targets Commercial production commenced in 2013 Open for expansion- infill and exploratory drilling remains ongoing Bulk mineable- economies of scale Goldrich believes this asset gives the potential for significant alluvial (placer) production while the lode targets are developed. Goldrich completed a test mine in 2009, producing approximately 600 ounces of gold, and commenced its first step in commercial production in 2010, producing approximately 1,500 ounces of gold. Goldrich did not operate the mine in 2011. 2012 Joint Venture Agreement In 2012 Goldrich signed a 50/50 joint venture agreement with NyacAU LLC to operate all placer mines at Chandalar. NyacAU agreed to provide all financing ($8.5 million to date) to bring Little Squaw Mine into production. NyacAU completed construction in early 2013 and commercial production commenced in August 2013. The production target is 20,000 ounces annually by 2016. Total production could substantially increase once a second gold recovery plant becomes operational. Based on drilling of the placer to date and the anticipated production rate, Goldrich estimates the mine life will be approximately 25 years and believes this may also be significantly extended with additional drilling. * This mineralized material is not a mineral reserve as defined in SEC Industry Guide 7.
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC Management Team WILLIAM V. SCHARA / CHIEF EXECUTIVE OFFICER / PRESIDENT / DIRECTOR Mr. Schara is a Certified Public Accountant with more than 27 years of experience in finance and accounting in the mining industry. Mr. Schara has extensive experience in business start-ups and international business, with a focus on managing small public companies and mining company joint ventures. Mr. Schara was recently Chief Executive Officer of Nevoro Inc., a Canadian mining company traded on the TSX. Mr. Schara was also the former Chief Financial Officer of Minera Andes Inc., a publicly traded, development-stage Canadian mining company as well as Vice President of Finance and Chief Financial Officer of Yamana Gold Inc. (formerly Yamana Resources Inc.). Mr. Schara is a Director of Marifil Mines Limited, a Canadian exploration company traded on the Canadian TSX Venture Exchange. WILLIAM ORCHOW / INTERIM CHAIRMAN OF THE BOARD William Orchow is a former Director, President, and Chief Executive Officer of Revett Minerals Inc., a mining corporation listed on the Toronto Stock Exchange. From 1994 to 2002, Mr. Orchow was President and CEO of Kennecott Minerals Company. Previously, he was President and CEO of Kennecott Energy Company, the third largest producer of domestic coal in the U.S. He also served as Vice President of Kennecott Utah Copper. Mr. Orchow has held senior management and director positions with Kennecott Holdings Corporation, the parent corporation. He has also been a director and member of the Executive Committee of The Gold Institute, a director of the National Mining Association, and a director of the National Coal Association. He is also a member of the Board of Trustees of Westminster College in Salt Lake City and Chairman of its Finance Committee. TED R. SHARP / TREASURER / CHIEF FINANCIAL OFFICER Ted R. Sharp, Chief Financial Officer, is President of Sharp Executive Associates, Inc., a privately held accounting firm located in Nampa, Idaho, which provides CFO services to clients. Prior to 2003, he worked for 14 years in positions of Chief Financial Officer, Managing Director of European Operations, and Corporate Controller for Key Technology, Inc., a publicly traded manufacturer of capital goods based in Walla Walla, Washington. From 1981 to 1989, Mr. Sharp worked in both public accounting and private industry. He holds a B.A. degree from Boise State University and is a Certified Public Accountant licensed in the states of Washington and Idaho.
    • DEVELOPING THE HISTORIC CHANDALAR GOLD DISTRICT OTCQB: GRMC Investment Highlights Focused on District-Scale Targets With Multi-Million Ounce Resource Potential Results-Oriented Experienced Management and Directors Team Historic District with Extensive Previous Gold Production Downside Protection Through Alluvial Production while Lode Targets are Developed Significant Infrastructure in Secure Jurisdiction Future Value Drivers Conduct aggressive drill campaigns on high priority lode targets Commence exploration activities at Thazzik Mountain property Monetize near-term alluvial deposits through JV partner production Update NI 43-101 report with mineral resource estimate Deliver Preliminary Economic Assessment (PEA) This presentation contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Legislation Reform Act of 1995. All statements, other than statements of historical facts, included in this investor presentation that address activities, events or developments that Goldrich Mining Company expects or anticipates will or may occur in the future, including such things as the Company’s ability to sell forward gold sale contracts, the anticipated use of proceeds from the sale of such contracts, anticipated commercial production at the Company’s Chandalar gold project and other such matters are forward-looking statements. Often, but not always, forward-looking statements (1) can be identified by the use of words such as “continue”, ‘‘efforts’’, “point up”, ‘‘potential’’, ‘‘thought’’, and ‘‘look forward’’, or variations (including negative variations of such words and phrases); or (2) state that certain actions, events or results ‘‘will’’ be taken, occur or be achieved. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Goldrich Mining Company’s actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: the Company’s ability to sell forward gold sale contracts in the current economic environment, volatility of natural resource prices, including gold prices; product demand; market competition; the Company’s ability to continue with corporate spending priorities; the Company’s ability to secure additional financing; the existence and extent of gold deposits at the Chandalar property; the Company’s ability to start and maintain commercial production at the Company’s Chandalar property; and other risks inherent in the Company’s operations discussed in the Company’s latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission. The Company makes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws or regulatory policies. Exploration and development at the Chandalar property have not advanced to the stage where the Company can report reserves compliant with U.S. Securities and Exchange Commission’s Industry Guide 7.
    • Office: 2607 Southeast Blvd., Suite B211, Spokane WA, 99223 Tel: 509.535.7367 Fax: 509.695.3289