Crazy Horse Resources (TSX.V - CZH) Corporate Presentation
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Crazy Horse Resources (TSX.V - CZH) Corporate Presentation

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Crazy Horse Resources is a Vancouver based mineral exploration company, that is focused on developing the Taysan Copper-Gold Porphyry Project, in Batangas Province, Philippines. The Taysan Project is ...

Crazy Horse Resources is a Vancouver based mineral exploration company, that is focused on developing the Taysan Copper-Gold Porphyry Project, in Batangas Province, Philippines. The Taysan Project is an advanced copper-gold porphyry deposit.

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    Crazy Horse Resources (TSX.V - CZH) Corporate Presentation Crazy Horse Resources (TSX.V - CZH) Corporate Presentation Presentation Transcript

    • TSX- TSX-V: CZH INVESTOR PRESENTATIONTAYSAN COPPER - GOLD PROJECT, PHILIPPINES
    • PROJECT SUMMARY1 SUMMARY OF TAYSAN PROJECT1MINE LIFE: 25 YearsTREATMENT RATE: 30 MtpaTOTAL PRODUCTION: 3.3 Billion lbs Cu, 1.4 Moz Au and other byproducts.ANNUAL AVE PRODUCTION: 168Mlbs Cu, 73 Koz Au (Yr 1-7) 133 Mlbs Cu; 57 Koz Au (LOM)INITIAL CAPITAL COSTS: US$914 Million $CASH COST (C1 COST): US$0.90/lb Cu (Yr 1-7) US$1.18/lb Cu (LOM)PROJECT NPV AT 10%2: US$989 MillionPROJECT IRR2: 30% post Tax, 33% pre Tax Notes: 1. The proposed operational parameters of the Taysan Project were determined based on an internal analysis which is a preliminary assessment using a non NI43-101 compliant resource and there is no certainty that the preliminary assessment will be realized. Crazy Horse makes no representations or warranties regarding the project’s estimated net present value or the assumptions set forth on this page used to calculate the net present value. 2. The Taysan Project economics are based on a copper price of US$3.00/lb and gold price of US$1,000/oz and assumes no leverage. 1
    • PROJECT AREA Excellent location in Batangas Province, 100 km south of Manila 20 km from the city of Batangas, the major port and industrial centre of the Philippines. f th Phili i TAYSAN PROJECT TENEMENTS EP # Date of Grant Area, ha EP-IVA-005 20-Dec-2005 4,086 EP-IVA-016 27-May-2010 3,500 EPA-IVA-081 in progress 333 EPA-IVA-108 in progress p g 1,167 , EPA-IVA-111 in progress 2,168 Total 11,254Source: Technical Review of the Taysan Project prepared by Geosynthesis Pty Ltd, June 2010. 2
    • DISCOVERY OUTCROPTaysan Deposit - Discovery Outcrop and October 2010 Core below View looking north over the Taysan Deposit View looking west over the Taysan DepositSource: Technical Review of the Taysan Project prepared by Geosynthesis Pty Ltd, June 2010. 3
    • CAPITAL STRUCTURE CAPITAL STRUCTURE OF CRAZY HORSE RESOURCES AS AT FEBRUARY 1, 2011 Amount Exercise Price Expiry DateCommon shares outstanding as at 49,359,123 49 359 123 $1.47 $1 47 average 30 dayFebruary 1, 2011 1,480,000 $0.31 December 31, 2011Warrants 5,666,666 $1.25 October 21, 2011Agent Compensation Options 793,333 $0.75 October 21, 2011Broker Warrants 560,000 $1.25 January 28, 2012Agent Compensation Warrants 396,667 $1.25 October 21, 2011 370,000 $0.27 July 7, 2014 y 2,066,500 $0.75 November 12, 2015Employee Stock Options 300,000 $1.27 December 8, 2015 200,000 200 000 $1.60 $1 60 January 16 2016 16,Fully Diluted Shares Outstanding 61,192,289 CASH $12M* MARKET CAP $71.1M (ISSUED) $88M (FULLY DILUTED) Management interest - 21% and restricted g Substantial investors from Canada, USA, UK, Switzerland and Philippines Substantial and Sophisticated Shareholders’ List with Management Commitment* As of 01 February, 2011 4
    • SUMMARY OF TAYSAN COPPER - GOLD PROJECT The Taysan Project is located in southern Luzon, Philippines in the well developed industrial province of Batangas, approximately 100 km south of Manila. The Project comprises two exploration permits and three exploration permit applications over a contiguous area of 11,254 hectares with excellent exploration upside. The Taysan Project hosts a large copper-gold porphyry deposit (the “Taysan Deposit”) similar to other copper-gold p p y y deposits p pp g porphyry p previously mined in the Philippines. y pp A total of 195 drillholes for about 44,531m have been completed since 1968. Feasibility studies have been carried out by BHP Engineering and Pincock Allen & Holt. Snowden (1995) reported a resource (0.2%Cu cut off) of 391Mt @0.30% Cu and 0.21gpt Au. Recent Whittle modelling at $2.50/lb Copper and $1000/oz Au shows an economic deposit containing 734 Mt at 0.24% Cu and 0.11 g/t Au. Clean, high grade copper concentrate with gold, silver, magnetite and other by-products.100% Ownership, 3 Year Pay-Back, Established Resource with Exploration Upside, Close to Port Pay-No Indigenous People, Very Clean Concentrate, Industrial Province, Low C1 Costs Years 1-7, Very 1-Low 0.56/1 Waste : Ore Ratio, Higher Grade Starter Pit with By-Product Credits, Arid Scrub Land By- 5
    • CRAZY HORSE - A LEVERAGED PLAY ON COPPER NPV (US$M) IRR A 33% INCREASE IN THE COPPER 2,500 60% PRICE BECOMES 108% INCREASE US$2,055M 50% 2,000 IN PROJECT VALUE $43.75/shr US$1,523M US$1 523M 40% 1,500 $32.41/shr 30% US$989M 1,000 20% $21.06/shr US$455M 500 10% $9.68/shr 0 0% US$2.50 /lb US$3.00 /lb US$3.50 /lb US$4.00 /lb Copper Prices NPV of Project at 10% DR IRR of ProjectNote:The proposed economics of the Taysan Project are based on an internal analysis which is a preliminary assessment, and there is no certainty that thepreliminary assessment will be realized. Crazy Horse makes no representations or warranties regarding the project’s estimated net present values. Theeconomics are based on a copper price as stated above and gold price of US$1,000/oz and calculated on post-tax project cash flows and assumes no leverage.Per share values reflect a 100% interest in the Taysan Project, fully diluted Crazy Horse shares of 47 million (post-placing) and excludes any withholding taxes. 6
    • MANAGEMENT TEAM BRIAN LUECK President, CEO and director of Solfotara Mining Corp. Chief Operating Officer of Copper Development Corporation (CDC) Chairman & Director Member of the Professional Engineers and Geoscientists of British Columbia Over 30 years of experience in mining and resource development including 5 years JOHAN RAADSMA as director for NM Rothschild & Sons (Australia) Ltd. President, CEO & Secretary President Phil Gold Processing & Refining Corp., Non-executive Director of Sierra Mining Limited (ASX) and Project Manager of Copper Development Corp. Directed and participated in start-up projects ranging from US$15- $ $ $750M in capital, including the Masbate Gold Project in the Philippines DARRYL CARDEY President of Cardey Management Corp., a venture capital financing and investment firm Chartered Accountant from the Institute of Chartered Accountants, British Columbia CFO & Di t Director Director of Minaurum Gold Inc. (TSX-V), Millrock Resources Ltd. (TSX-V) and Tatmar Ventures Inc. (TSX-V) President of Chelmer Consulting Corp., a corporate finance and securities advisory firm DARREN DEVINE Ab i barrister and solicitor in British Columbia and solicitor in England & Wales d li i i B i i h C l bi d li i i E l d W l Director Chairman of Centric Energy Corp. (TSX-V), EVP of Petro Vista Energy Corp and director of Dejour Enterprises Ltd. (TSE) Geologist with 32 years experience who formed Mining Associates in 2003 g y p g ANDREW VIGAR Held positions with Utah, Emperor, WMC and CRAE prior to consulting in 1996 as Vigar & Mining Associates, Head Associates which became part of SRK Consulting where he built and managed the Project Consultant Brisbane practice Completed feasibility work on the Philippine projects Runruno and Masbate 7
    • NORSEMONT’S CONSTANCIA PROJECT COMPARABLE Norsemont Mining has been offered a take-over bid from HudBay Minerals. Under the Offer, holders of common shares of Norsemont have the right to elect to receive as consideration for each deposited Norsemont common share, either: (a) 0.2617 of a HudBay common share and $0.001 in cash, cash or (b) cash in an amount that is greater than $0.001, not to exceed $4 50 and if less than $0 001 $4.50, and, $4.50 in cash is elected, the number of HudBay common shares equal to the excess of $4.50 over such elected cash amount, divided by $17.19, subject, in each case, to pro-ration and rounding as set out in the Offer and take-over bid circular. Constancia Project Taysan Project 277.4Mt @ 0.43% Cu 734Mt @ 0.24%Cu, 0.11gpt Au plus silver, magnetite and molybdenum by-product p potential. High g g grade starter p pit 2.63B lbs Cu 3.88B lbs Cu and 2.7Mozs Au contained 600km SE of Lima, Peru 20km to port of Batangas, Philippines Market Cap $353 M Market Cap $69 M Project NPV $780 M – 840 M Project NPV $989 M EV / NPV (approx.) 0.42 – 0.45x EV/NPV (approx.) 0.06x EV / lb (US$/lb) $0.13 EV / lb (US$/lb) $0.01 Production Start Est. 2015 - 6 Production Start Est. 2014-5 8
    • COPPER MOUNTAIN COMPARABLE October, 2008 - Mitsubishi Materials buys a 25% project interest in Copper Mountain Mining’s Similco project for C$28.7M May, 2010 – Mitsubish Materials secures US$322M in project financing through senior credit agreement and term loan and secures 100% off take agreement Copper Mountain Project Taysan Project 211Mt @ 0.36%Cu 734Mt @ 0.24%Cu, 0.11gpt Au plus silver, magnetite and molybdenum by-product potential. High grade starter pit 1.7B lbs Cu contained 3.88B lbsCu and 2.7Mozs Au contained 270km East of Vancouver 20km to port of Batangas, Philippines 12Mtpa project for $438M capex refurbish 30Mtpa for $914M capex Market Cap = $664 Million Market Cap = $69 Million Not Available C1 cost $0.52/lb Cu Y1-3, $1.17 Life of Mine* May 31, 2010, www.northernminer.com 9
    • TERRANE’S MT MILLIGAN COMPARABLE Thompson Creek Metals Company Inc. and Terrane Metals Corp.jointly announce that they have entered into a definitive agreement pursuant to which Thompson Creek will acquire all of the issued and outstanding equity of Terrane for C$0.90 in cash and 0.052 Thompson Creek common shares per Terrane share. day. The total value of the consideration offered to the shareholders of Terrane is approximately C$650 million. Mt Milligan has similar bottom line economics as Taysan with LOM strip ratio of 0.84:1, slightly higher than Taysan, lower Cu grade against higher Au grade. Mt Milligan Project* Taysan Project 482.4Mt @ 0.2% Cu and 0.388gpt Au Reserve 734Mt @ 0.24%Cu, 0.11gpt Au plus silver, magnetite and molybdenum by-product potential. High grade starter pit 2.1B lbs Cu and 6.02Mozs Au contained 3.88B lbs Cu and 2.7Mozs Au contained 155km NW of Prince George, central BC, 20km to port of Batangas, Philippines Canada 20Mtpa for $915M capex 30Mtpa for $914M capex Sale Price = $650 Million Market Cap = $69 Million 2.2 year payback, 30% IRR, NPV (10%) 3 year payback, 33% IRR, NPV (10%) $1B at $1.17B at $3/lb Cu and $1,000 oz Au $3/lb Cu and $1,000 oz Au* www.terranemetals.comrthernminer.com 10
    • ATTRACTIVE C1 COST DRIVES ECONOMICS Mines that opened after 2002 tended to be at the high end of the 2008 C1 composite cost curve Taysan C1 costs are attractive due to its by-product credits, low strip ratio, proximity to infrastructure, low coal energy costs and attractive labor costs in the Philippines Huckleberry KGHM Polish Copper Gibraltar ana G P Lumwa Phu Kham Escondido LOM Y1-7 Y1 7 11
    • HIGHLY COMPETITIVE C1* COST Taysan would rank 42nd lowest in cost out of 214 copper producers Low Waste : Ore ratio of 0.56 against industry average of 2.5:1 in 2008 C1 Cost at Developing & Operating Mines – 2010 Forecast Basis Payable Metal By Product Credits C1 Mine Site (Mlbs/annum) (c/lb) (c/lb) Escondido 2,379.3 2 379 3 7.8 78 88.7 88 7 Taysan (Y1-7) 168.0 62.0 90.0 Phu Kam 138.2 42.8 106.4 Taysan (LOM) 133.0 61.0 118.0 Sepon - Khanong 141.2 141 2 - 120.7 120 7 KGHM Polish Copper 908.8 77.9 121.3 Philex 39.1 - 123.9 Lumwana 319.8 - 140.4 Atlas 41.3 41 3 57.0 57 0 141.9 141 9 Highland Valley 181.1 78.9 150.6 Olympic Dam 374.9 133.0 176.1 Mount Polley 42.2 - 180.2 Gibraltar 107.3 19.2 184.9 Kemess 48.8 - 214.4 Huckleberry 38.5 11.2 222.2 Source: Brook Hunt 2010. *C1 = cost to produce one lb of Cu comprising of minesite costs, freight & marketing, TC/RC with credit for byproducts. 12
    • PARTIAL STUDY FINDINGS 13
    • GEOLOGY Completed 10 holes to confirm historic resource ahead of schedule and on budget Assays returned from five drill holes CZT001 - 214m of 0 38 % Cu 0 12 g/t Au and 0.38 Cu, 0.12 1.4 g/t Ag from 62-276m CZT002 - 487.3 meters @ 0.40% Cu, 0.15gpt Au and 1.45gpt Ag. Strong silver grades persist CZT 003, CZT 004 and CZT 005 averaged 414 meters of 0.32% Cu, 0.12gpt Au and 1.20gpt Silver CZT006 drilled 477 meters of 0.41% Cu, 0.11 g/T Au and 1.44 g/T Ag Low grade (0.1-0.2%) Copper values may have been underestimated by 50-100% Mid range grades in line with historic values High grade values are higher due to improved drilling and assaying techniques Total of 5,715.3m of the program drilled with all critical holes completed by 23 December, 2010 Magnetic survey on exploration target being conducted 14
    • CONFIRMATORY DRILLHOLES 15
    • ASSAY RESULTS IMPROVE ON HISTORIC FINDINGS 16
    • METALLURGY Completed Comminution and flotation testwork programs. Gold results are pending. RMWI results indicate that the “coarse particle” hardness of Taysan ore would be regarded as being of only a moderate hardness level. Savings on capex layout. Power in line with assumed. y g y Taysan ore would be classified as being only moderately abrasive – and perhaps at the low end of the moderate abrasivity category. The 106 µm grind did produce a slightly higher grade-recovery response on comparable samples. The final copper rougher recovery increased with the copper head grade although in all tests, pp g y pp g g , recoveries in excess of 90% were produced. The flotation process was quite rapid with the 90% recovery level being generally attained with one to two minutes of flotation time, In all tests, only a minimal recovery increase was produced in the final flotation stage suggesting that 7.5 minutes of laboratory rougher flotation time would suffice in most instances. 17
    • PROCESS PLANT FLOWSHEET Conventional Sag/BM dual train flotation plant Opex $4.12/metric tonne processed AMEC Installed capex estimate $350m ($405m CZH Estimate) 18
    • PROCESS PLANT GENERAL ARRANGEMENT 19
    • OPTIMIZATION PARAMETERS Copper Price: $2.50/lb Gold Price: $1000/tr.oz Processing cost: $4.12 /t Milled Grade control cost: $0.04/ t Ore Mining loss: 2.5% Dilution: 0% Processing rate: 30Mtpa TC: $50/dmt con RC: $0.05/lb Cu Road freight: $5.0/wmt con Transport + marketing: $0.13/lb Cu Mine gate copper price: $2.20/lb Overall pit slope angle: Weathered 37o Fresh 45o 20
    • 3D VIEW OF OPTIMIZED PITSTARTER PIT SHELL (Pit ) ( 2) 10 YEAR PIT SHELL (Pit 6)FINAL PIT SHELL (Pit 13) 21
    • LOM 25 YEARS WITH HIGH GRADE STARTER PIT Pit 2 – 3.5 years. C1 - $0.52 rec. lb - 105Mt at 0.35% Cu and 0.16g/t Au for 61Mt waste Pit 6 – 10 years C1 - $0 80 rec lb . 311Mt at 0 28% Cu and 0 13g/t Au for years. $0.80 rec. 0.28% 0.13g/t 165Mt waste Pit 13 – LOM. C1 - $1.17 rec. lb - 721Mt at 0.23% Cu and 0.11g/t Au for 545Mt waste Additional Silver will reduce C1 cost by approximately $0.18/ rec. Lb Cu Magnetite (62% Fe <75 micron) will further reduce C1 cost by approximately $0 30/rec Lb Cu $0.30/rec. 22
    • SECTION A Base f Oxide B of O idTopography Starter Pit Shell (Pit 2) 10 Year Pit Shell (Pit6) Final Pit Shell (Pit13) 23
    • SECTION B Base f Oxide B of O idTopography Starter Pit Shell (Pit 2) 10 Year Pit Shell (Pit6) Final Pit Shell (Pit13) 24
    • INFRASTRUCTURE Identified numerous port options around Batangas Bay. Working with consultants and the Philippines Port Authority GHD advanced in delineating Tailings g g Storage Facility concept and location Evaluating grid, coal and gas power options 25
    • CORPORATE SOCIAL RESPONSIBILITY Completed surface right acquisition strategy including tax mapping Retained GAIA South for socio-environmental studies Excellent local government and community relations 26
    • TAYSAN PROJECT OVERVIEW 27
    • THE PHILIPPINES History: Became independent in 1946 Government: President Benigno Aquino III ᅳ Pro-Mining Government Population: 99 Million GDP: US$161 Billion Natural Resources ᅳ Untapped mineral wealth estimated at US$1,387 billion ᅳ Top 5 in mineral resources globally ᅳ Copper, gold and chromate deposits are among the largest in the world g g Recently Developed Mines ᅳ Masbate ᅳ Atlas ᅳ Co-O (Medusa) ᅳ Red 5Source: CIA World Factbook; PMEA Presentation, February 2010. 28
    • HISTORY OF THE PROJECT1960s: - Dr. Wolfe recognizes the copper porphyry style mineralization in 1968 and claims it through Taysan Copper Inc. (TCI). - Occidental Minerals options the ground and completes an IP survey and diamond drilling.EARLY 1970s: - Property returns to TCI and TCI completes ground magnetic and IP surveys followed by 20 drill holes (2 130m) surveys, (2,130m). - Property optioned to Newmont who drills 17 holes (5,532m). Property returned to TCI due to change in corporate policy.1977 - 1985: - Benguet Corp enters agreement with TCI and completes 66 drill holes (18,595m) and metallurgical and engineering studies. - Benguet Corp suspends activities on the Taysan property to pursue another project.1991 - 1995: - Chase acquires an option over shares of TCI. Chase completes 30 drill holes (7,784m) and commissions Snowden to complete a reserve estimate and geostatistical study and Optimet Laboratories to complete a metallurgical study. - The Batangas project (which included the Taysan project) is joint ventured to Magma Copper Company in 1995.1996 - 2000: - IP survey, soil geochemistry and 11 drill holes completed. Chase terminates agreement with TCI in 1998.2004 - 2007: - Phelps Dodge applies for exploration permit (EP-IVA-005). Airborne and ground magnetic surveys undertaken. - Freeport acquires Phelps Dodge and regional exploration program undertaken by Kumakata Mining (Freeport) including IP surveys, stream sediment sampling and RC and diamond drilling of regional targets. - Kumakata enters into a joint venture with Japan, Oil, Gas and Metals National Corporation (JOGMEC) for respective interests of 60% and 40% in EP-IVA-005.2010: - Taysan Copper Corporation enters agreements with Kumakata and JOGMEC to acquire their interests in the Taysan Project. -C Crazy H Horse enters agreement to acquire 100% i i interest i the T in h Taysan P j Project f from T Taysan C Copper C Corporation. iSource: Technical Review of the Taysan Project prepared by Geosynthesis Pty Ltd, June 2010. 29
    • HISTORIC DRILLING The project tenement area has been explored and drilled by four companies since 1968 195 drill holes have been drilled up to 2009 for a total of about 44 531m of which 144 holes 44,531m, totalling 36,562m were drilled at or nearby the Taysan Deposit HISTORIC DRILLING OF TAYSAN PROJECT AREA Date Holes Type Meterage Company 1983 2 DH 328 TCI 1970s 19 DH 6,356 Newmont 1970s 23 DH 2,293 TCI 1977-1985 66 DH 18,595 Benquet 1992-1993 25 DH 7,183 Chase 1996 7 DH 606 Chase/Magma 2007 10 DH 3,520 Kumakata 2006-2007 41 RC 4,449 Kumakata 2009 2 DH 1,200 Kumakata 195 44,531 44 531 Source: Technical Review of the Taysan Project prepared by Geosynthesis Pty Ltd, June 2010. 30
    • HISTORIC RESOURCE ESTIMATES* TAYSAN HISTORICAL RESOURCE ESTIMATES* Contained Contained Company Author Date Cut-off Cu, % Au, g/t M tonnes Cu, Million Au, oz lb Benguet PAH 1981 NA 0.32 0.31 309 2180 3,079,718 Chase Chase 1993 NA 0.31 0.13 336 2296 1,404,344 Chase Snowden 1994 0.20% 0.29 0.23 403 2577 2,980,050 Chase Snowden 1995 0.20% 0.30 0.21 391 2586 2,639,896 CZH Mining 2010 0.10% 0.24% 0.11 734 3882 2,595,894 Associates *A qualified person has not done sufficient work to classify the historical estimate as current mineral resource or mineral reserves. The Company is not treating the historical estimate as current mineral resources or mineral reserves as defined in NI 43-101. The historical estimates disclosed in this Presentation should not be relied upon.Source: Technical Review of the Taysan Project prepared by Geosynthesis Pty Ltd, June 2010. 31
    • GENERAL SITE LAYOUT 32
    • GEOLOGY AND MINERALISATION Interpreted geology showing mineralised units (Source: Erceg, 1995) ( 199 ) 33
    • DEVELOPMENT TIME LINE DATE STAGE KEY OBJECTIVES • Review and restructure Board and Management and systems ent and  • Raise $7M to take the company to completion of  Scoping Study Study • Support the current exploration team with an expanded exploration program pp p p p p g Establishme Scoping S Months • Commence liaison with local stakeholders rm up resource. 1‐6 • Commence permitting for Taysan operations  • Complete technical background work and upgrade of current resource estimates. • Drilling resources extensions and update resource models.  Drilling resources extensions and update resource models Ongoing exploration program to fir Feasibility Study • Detailed design, engineering, for construction of a mine and mill Months • Infrastructure, port access, water and power 7 ‐ 24 • Apply for a FTAA– expected to take 6 to 12 months for approval • Review exploration results for 2011 and design and budget 2012 program. • Final design for construction Capital raising  • Recruit appropriate mine and support staff  Months • Source materials for construction to commence, order long lead‐time items 25 ‐ 36 • Complete permitting • Capital raising and commence  construction C i l ii d i C • 18 Months construction period Construct Months • Immediate drill‐ready targets to extend life beyond 25 years 37 ‐ 54 • Production target 2015 • Production ramp‐up Months 55>> • Full production within 12 months 34
    • DISCLAIMERThis presentation, and the information contained herein, is not for release, distribution or publication into or in the United States or any other jurisdiction where applicable laws prohibit its release,distribution or publication. This presentation (“Presentation”) is being issued by Crazy Horse Resources Inc. (the “Company”) for information purposes only in relation to the Company’s proposedprivate placement (“Placing”) of units of the Company (the “Units”). Reliance on this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk oflosing all of the property or other assets invested.This Presentation is not a prospectus or an advertisement and is being provided for information purposes only and does not constitute or form part of, and should not be construed as, an offer orinvitation to sell or any solicitation of any offer to purchase or subscribe for any Units in Canada, the United States or any other jurisdiction. Neither this Presentation, nor any part of it nor anything y y p y y j yp y gcontained or referred to in it, nor the fact of its distribution, should form the basis of or be relied on in connection with or act as an inducement in relation to a decision to purchase or subscribe for orenter into any contract or make any other commitment whatsoever in relation to any common shares of the Company. No representation or warranty, expressed or implied, is given by or on behalf ofthe Company, its directors and affiliates or any other person as to the accuracy or completeness of the information or opinions contained in this Presentation and no liability whatsoever is accepted bythe Company, its directors and affiliates or any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connectiontherewith.No final decision has been made to proceed with the Placing. Such a decision will be taken only after assessing market feedback and prevailing market conditions. This Presentation does notconstitute a recommendation regarding the Units or an investment therein. The proposed issuer has not been and will not be registered under the United States Investment Company Act of 1940, asamended (the “Investment Company Act”) In addition the securities have not been and will not be registered under the US Securities Act of 1933 as amended (the “Securities Act”) Consequently Investment Act ). addition, 1933, Securities Act ). Consequently,the Units may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, US persons, except pursuant to an exemption from the registrationrequirements of the Securities Act and, if determined to be an issue, under circumstances which will not require the Company to register under the Investment Company Act. No public offering of theUnits is being made in the United States.The contents of this Presentation are confidential and may not be copied, distributed, published or reproduced in whole or in part, or disclosed or distributed by recipients to any other person. Noreliance may be placed for any purpose whatsoever on the information or opinions contained in this Presentation or on its completeness, accuracy or fairness. Prospective investors should not treatthe contents of this Presentation as advice relating to legal, taxation or investment matters, and must make their own assessments concerning these and other consequences of the variousinvestments, including the merits of investing and the risks. Prospective investors are advised to consult their own personal legal, tax and accounting advisors and to conduct their own due diligenceand agree to be bound by the limitations of this disclaimer.Certain statements, beliefs and opinions in this Presentation (including those contained in graphs, tables and charts) are forward-looking, which reflect the Company’s or, as appropriate, theCompany’s directors’ current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could causeactual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome andfinancial effects of the plans and events described herein. Forward-looking statements contained in this Presentation regarding past trends or activities should not be taken as a representation thatsuch trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, futureevents or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this Presentation.Completion of the acquisition of Taysan Copper Corporation (the “Acquisition”) is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholderapproval. The Acquisition cannot close until the required shareholder approval is obtained. There can be no assurance that the Acquisition will be completed as proposed or at all.Investors are cautioned that, except as disclosed in any Management Information Circular or Filing Statement to be prepared in connection with the Acquisition, any information related or receivedwith respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. The TSX VentureExchange has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this Presentation.The Company has not engaged a sponsor in connection with the Acquisition. The Company intends to apply to the TSX Venture Exchange for waiver from certain requirements of the TSX VentureExchange’s RTO policies, including but not limited to, engaging a sponsor and holding a shareholder meeting. g p g g g g p g gThe geological data in this Presentation is based on a technical report prepared in accordance with National Instrument 43-101 (“NI 43-101”) by R.Sowerby, of Geosynthesis Pty Ltd. Brian Lueck, theproposed new director of the Company, is the qualified person who has reviewed the geological data summarized in this Presentation on behalf of the Company.Issued by Crazy Horse Resources Inc. Registered office at Suite 900 – 595 Howe Street, Vancouver, British Columbia V6C 2T5, Canada. 35
    • CONTACT INFORMATIONREGISTERED OFFICE PHILIPPINES OFFICE INVESTOR RELATIONSSuite 900 – 595 Howe Street 10F, 105 Paseo de Roxas KIN COMMUNICATIONSVancouver, British Columbia Legaspi Village, Makati City Tel: +1 604 684 6730V6C 2T5 C 2T5, Canada d Metro Manila 1229, Philippines Toll Free: +1 866 684 6730www.crazyhorseresources.com ir@kincommunications.com 36