Probe mines presentation_august14-2013


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Probe mines presentation_august14-2013

  1. 1. TSX.V: PRB AUGUST 2013 TSX.V: PRB Borden Discovery Outcrop Building Ontario’s Newest Gold District
  2. 2. TSX.V: PRB Cautionary Notes Disclaimer This presentation contains a review of the Company’s projects in Canada. Viewers are cautioned that the projects are at an early stage of exploration and that estimates and projections contained herein are based on limited and incomplete data. More work is required before the mineralization on the projects and their economic aspects can be confidentially modeled. Therefore, the work results and estimates herein may be considered to be generally indicative only of the nature and quality of the projects. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates herein will be confirmed by future exploration or analysis, or that the projects will otherwise prove to be economic. Forward-Looking Statements This presentation includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Probe, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially form those anticipated in such statements. 2
  3. 3. TSX.V: PRB Investment Highlights Borden Gold Resource Growing & Improving in Grade  Located in mining friendly Ontario, Canada  Pit-constrained Resource over 4.3 MMoz @ 1.03 g/t Au (January 2013)  Positive metallurgy results (April 2013)  Continued high-grade intercepts in the southeast, 700 metres in step-out drilling  3.0km of strike length identified and still open in both directions Experienced Management Team  Michael Petrina, P.ENG, Chief Operating Officer  Expanded capital markets expertise Potential for New Discoveries  Two major discoveries: Borden Gold & Black Creek Chromite  Strong exploration potential: Over 400 square km of new ground within the Borden Belt  Ongoing strategy to consolidate the Borden Belt Strong Financial Position  $28 million at April 30th, 2013  Completed a $15 million financing in May 2013, Agnico Eagle owns 9.9% of Probe Mines’ issued and outstanding shares on a non-diluted basis 3
  4. 4. TSX.V: PRB Patrick Reid, B.A. Chairman of the Board Past President of the Ontario Mining Association David Palmer, Ph.D., P.Geo. President, Chief Executive Officer & Director Over 20 Years in the Mining Industry Michael Petrina, MBA, P.Eng. Chief Operating Officer Over 25 years of experience in operations, engineering & mine development Patrick Langlois, MBA, CFA Vice President, Corporate Development 15 years of experience un Corporate Development and Investment Banking Carmelo Marrelli, B.Comm, CA, CSA Chief Financial Officer Experienced Mining and Investment Accountant John Gammon, Ph.D. Director Former Assistant Deputy Minister of Mines for Ontario Gordon McCreary, MBA, P.Eng. Director Mining Engineer, former officer of Kinross and Baffinland Dennis Peterson, B. Comm, LLB Director Corporate Securities Lawyer, Small Cap Mining Expertise Strong Management Team 4
  5. 5. TSX.V: PRB 5 Analyst Coverage BMO Capital Markets John Hayes Cormark Securities Tyron Breytenbach Euro Pacific Canada Matthew Zylstra Jennings Capital Kwong-Mun Achong Low Mackie Research Barry Allan Macquarie Capital Markets Pierre Vaillancourt MGI Securities Marc Pais RBC Capital Markets Sam Crittenden Stonecap Securities Ali Khan Major Shareholders Holdings (I&O) Institutional/Strategic Investors: Agnico Eagle, Macquarie, Sprott, Sentry, BMO, Northern Border, Seamans, K2, etc. ~ 50% Management & Directors 5% Probe Mines Limited Symbol: PRB Listed Exchange Toronto Venture Market capitalization $151.4 million Shares outstanding (basic) 75.7 million Shares outstanding (fully diluted) 88.5 million Cash Balance (04/30/13) $28 million Debt None 52 week trading range $0.90 - $2.30 Recent Price (08/09/13) $2.00 Corporate Summary
  6. 6. TSX.V: PRB Ontario: Mining Friendly Jurisdiction BORDEN GOLD  Favourable and well-developed infrastructure, 1 km from paved highway and power  Pit-constrained Resource over 4.3 MMoz at 1.03 g/t Au, still expanding and improving in grade  Discovery of a high-grade zone in the southeast  Potential for lower CAPEX 6 BLACK CREEK CHROMITE  Strategically located between Cliffs Natural Resources’ Black Thor and Big Daddy deposits  Over 10Mt of high-grade chromite in open-pitable deposit
  7. 7. TSX.V: PRB REGIONAL GEOLOGY-LOCATION Chapleau Area Infrastructure • Close to numerous mining districts • Excellent access & local infrastructure Only 9 km from Chapleau 1 km to Highway/Power 10 mins to Rail • Within the Kapuskasing Structural Zone Underexplored • Community Receptive to new industry • First Nations Agreement in place 7 New Gold District
  8. 8. TSX.V: PRB Gold Zone Expanding Potential for over 1km of additional strike length 8 Potential for over 1km of additional strike length
  9. 9. TSX.V: PRB High-Grade Continuity in the Southeast 9 Hole Section Width (m) Gold (g/t) BL13-374 800m SE 15.0 5.7 BL13-363 850m SE 9.0 5.9 BL13-358 900m SE 36.5 4.5 including 11.7 11.5 BL13-431 950m SE 21.1 5.2 BL13-335 1050m SE 21.3 2.5 BL13-421 1100m SE 29.4 5.9 including 6.5 15.3 BL12-256 1200m SE 51.0 10.3 including 25.0 17.8 BL13-399 1250m SE 26.1 8.5 including 17.7 12.0 BL13-420 1300m SE 47.0 6.8 including 35.5 8.8 1500m SE Pending 1600m SE Pending BL13-378 1700m SE 25.0 4.6 including 12.9 7.4 BL13-384 1700m SE 10.2 12.5 BL13-402 1800m SE 27.1 6.4 including 9.2 11.1 BL13-403 1900m SE 39.0 5.0 including 13.0 11.2 2000m SE Pending • Step-out drilling from high-grade discovery section (1200m SE) confirms continuity of high-grade zone • Drilling to date after the initial discovery hole in December 2012 (Section 1200 m SE) has added 700 m of high grade material along strike of the deposit and remains open along strike to the Southeast Section 1200m SE
  10. 10. TSX.V: PRB 10 Consistent Higher Grade Core Consistent higher-grade core allows potential for alternative development scenarios with lower CAPEX and less sensitivity to gold price  2.34 MMoz @ 1.7 g/t Au average grade High-Grade Intersection (51m @ 10.3 g/t Au)
  11. 11. TSX.V: PRB 11 PIT-CONSTRAINED NI 43-101 RESOURCE ESTIMATE, JANUARY 2013* Resources Category Cut-off Grade (g/t gold) Tonnes (000’s) Grade (g/t gold) Gold (oz) (000’s) Indicated Inferred 1.5 1.5 14,452 2,545 2.34 2.61 1,086 214 Indicated Inferred 1.0 1.0 37,600 6,351 1.64 1.77 1,982 361 Indicated Inferred 0.5 0.5 112,844 18,036 1.02 1.08 3,686 625 Pit-constrained Resource of 4.3 MMoz at 1.03 g/t Au average grade at a 0.5 g/t Au cut-off  85% of the total Pit Constrained resource is in the Indicated category *Mineral Resources Statement, P&E Mining Consultants Inc. Borden Gold - Resource, January 2013
  12. 12. TSX.V: PRB 12 Pit-constrained Resource Growth to 4.3 MMoz Averaging 1.0 g/t Discovery Cost < $4/oz Resource Growth Date Accumulative drilling Number of Drill holes Resources Growth (M oz) 313 drill holesJanuary 2013 94,000m August 2011 21,662m 78 drill holes 35,000mApril 2012 167 drill holes 2,796,000 683,000 625,000 253,000 2,735,000 3,686,000 Inferred Indicated (Global Resource Estimate)
  13. 13. TSX.V: PRB • Recent acquisitions of over 350 square km of unexplored ground within the Borden and associated Belts • High potential for new discoveries 13 LAND POSITION Potential for New Discoveries
  14. 14. TSX.V: PRB Black Creek Chromite 2010 NI-43 101 Resource Estimate • Canada ranks 5th in the World in chromite resources due to Ring of Fire discoveries Black Creek Block Model • Strategically located between Cliffs Natural Resources’ (NYSE: CLF) Black Thor and Big Daddy deposits • Over 10Mt of high-grade chromite in open-pitable deposit 14 Category Tonnes (000’s) Average Cr2O3 (%) Cr:Fe Ratio Measured (M) 5,256 37.0 1.8 Indicated (I) 3,389 38.0 1.8 Total M & I 8,645 37.4 1.8 Inferred 1,610 37.8 1.7
  15. 15. TSX.V: PRB Advancing Borden Gold Discovery in 2010 Infrastructure NI 43-101 Resource Estimate (3) Size: 4.3MMoz Pit-constrained Resource Grade Advanced metallurgy New high-grade zone Mining team Strong treasury  Expansion and infill drilling of the new high-grade zone in the southeast  Land acquisition  Updated NI 43-101 Resource Estimate  Preliminary Economic Assessment (PEA) 15
  16. 16. TSX.V: PRB Contact Information Tel: (416) 777-6703 Fax: (416) 777-6705 Email: Website: Head Office 56 Temperance Street, Suite 1000 Toronto, Ontario M5H 3V5 David Palmer, Ph.D., P.Geo. President and CEO (416) 777-6703 Patrick Langlois, MBA, CFA Vice President, Corporate Development (416) 777-6703 16