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Plateau Uranium Inc Presentation June 2016

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Plateau Uranium Inc (PLU.V) Investor Presentation with recently updated Preliminary Economic Assessment information, as well as the addition of the LIthium and Potassium Resource Estimate.

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Plateau Uranium Inc Presentation June 2016

  1. 1. Uranium & Lithium in Peru Macusani Project Investor Presentation TSX-V:PLU FSE:QG1 OTC:PLUUF
  2. 2. Disclaimer The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein. This presentation includes certain forward-looking statements concerning the future performance of Plateau Uranium's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. Forward-looking statements and forward- looking information include, but are not limited to, statements with respect to estimated production and mine life; the future price of uranium; the estimation of mineral reserves and resources; the realization of mineral resource and reserve estimates; the timing and amount of estimated future production; costs of production; success of exploration activities; and currency exchange rate fluctuations. Except for statements of historical fact relating to Plateau Uranium, certain information contained herein constitutes forward-looking statements. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, variations in grades or recovery rates, risks relating to international operations, fluctuating currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Macusani cautions against placing undue reliance thereon. Neither Plateau Uranium nor its management assume any obligation to revise or update these forward-looking statements. Qualified Persons The scientific and technical information contained in this document relating to preliminary economic assessment was prepared by or under the supervision of, or reviewed and approved by, Mr. Michael Short, B.E., CEng., FIMMM and Dr Thomas Apelt, PhD, CEng., MAusIMM, of GBM Minerals Engineering Consultants, and/or Mr. Mark Mounde, BEng., CEng., MIMMM of Wardell Armstrong International, who are independent technical consultants to the Company and "Qualified Persons" under NI 43-101 Standards of Disclosure for Mineral Projects. The scientific and technical information contained in this document relating to the Mineral Resources was prepared under the supervision of, or reviewed and approved by Mr. David Young, B.Sc. (Hons), FGSSA, FSAIMM, FAusIMM, Pr Sci Nat (No 400989/83) of The Mineral Corporation that is an independent technical consultant to the Company and a “Qualified Person” under NI 43-101 Standards of Disclosure for Mineral Projects. 2
  3. 3. Investment Highlights • Strong Uranium-only Project Economics at US$50/lb U3O8* • NPV: US$603M / IRR: 40.6% / 1.8 years capital payback (post-tax) • Large Scale: Proposed production of over 6M lbs U3O8 per year over a 10 year mine life • Low Cost: US$17/lb LoM cash production cost, <US$300M initial capital • Project economic at current Term uranium prices, significant leverage to consensus longer term forecasted prices • Control of All Defined Uranium Resources in Emerging Uranium District** • 52.9 M lbs U3O8 Measured & Indicated (248 ppm) • 72.1 M lbs U3O8 Inferred (251 ppm) • 75 ppm U cut-off • Additional Lithium Resources with Uranium ** • 67,000 t Li2O Measured & Indicated (0.13% Li2O) • 109,000 t Li2O Inferred (0.12% Li2O) • Resources in only 4 uranium deposits within 75 ppm U cut-off • Excellent Infrastructure Proximal to Project • Roads, inexpensive power, water, etc. • Mining Friendly Jurisdiction – Peru • Pathway to production - 2019 Well Positioned for Uranium Sector Recovery * Jan 2016 Preliminary Economic Assessment – see slide 9 ** Resource details from May 2015 and March 2016 NI 43-101 Reports. See Appendix Slides for details. Macusani Project, Puno, Peru Post Tax IRR/NPV of 40.6%, US$603M
  4. 4. Resource Estimate for Colibri 2&3 Acquisition of Corachapi and Kihitian concessions. Resource Update. Merger with Southern Andres Resource Update Acquisition of Minergia; Implementation of Cameco met and project work Updated Resource Estimate on all defined resources in the consolidated Macusani Plateau Uranium District PEA Completed 1.6 1.6 11.7 11.7 13.1 31.5 49.7 51.9 13.0 13.0 30.0 30.0 40.6 30.1 47.5 72.1 Uranium(Mlbs) 2008 2009 2010 2011 2012 2013 2014 2015 Development & Growth to Date 4Please see SEDAR for historic resource estimates. Breakdown of cut-off and current resource estimates available in presentation appendix slides. • 2016 PEA a culmination of over eight years of resource growth, exploration and regional consolidation • $45M spent in the district between five companies over this time period: Discovery/Delineation and acquisition costs of $0.36/lb for defined U3O8 mineral resources • New Lithium & Potassium Resources add by-product value potential
  5. 5. Development & Growth to Date 5Please see SEDAR for historic resource estimates. Breakdown of cut-off and current resource estimates available in presentation appendix slides. • 2016 PEA a culmination of over eight years of resource growth, exploration and regional consolidation • $45M spent in the district between five companies over this time period: Discovery/Delineation and acquisition costs of $0.36/lb for defined U3O8 mineral resources • New Lithium & Potassium Resources add by-product value potential 2008 2009 2010 2011 2012 2013 2014 2015 2016 Key Milestones Resource Estimate for Colibri 2&3 Acquisition of Corachapi and Kihitian concessions Resource Estimate for Corachapi and updated for Colibri 2&3 PEA for 1.2 M lb/year operation; cash cost of $21.65/lb U3O8 $14.4 M Financing Drilling starts at Kihitian Merger with Southern Andes to become dominant land holder on Macusani plateau Resource Estimate for Kihitian Resource Estimate update PEA for 4.3 M lb/year operation; cash cost of $20.57/lb U3O8 Acquisition of Minergia, further consolidation of the Macusani Plateau Updated Resource Estimate on all known resources in the consolidated Macusani Plateau Uranium District PEA for 6.1 M lb/yr operation; cash cost of $17.28/lb U3O8 New Lithium Resources added from only 4 uranium deposits used in PEA
  6. 6. Uranium Sector Snapshot 6*Market Capitalization calculated in CDN Dollars based on exchange rates and share prices as of Jan. 22, 2016, $0 $50 $100 $150 $200 $250 $300 $350 MarketCap(C$M) Uranium Developers Peers U3O8 developers with economic study showing sub US$30 cash + capex cost per lb production Significant Value Gap Between Plateau and its Sector Peers
  7. 7. Plateau Trades at a Significant Discount to its Peers Macusani – Comparable Projects 7* Pre-Tax NPV10%. Company Vimy Resources Limited Berkeley Energia Limited Fission Uranium Corp. Plateau Uranium Inc. Mkt Cap (C$M) $69M $89M $248M $15M Project Mulga Rock Salamanca PLS Macusani Location Australia Spain Canada Peru Study Type PFS PFS PEA PEA Release Date Nov-15 Nov-15 Sep-15 Jan-16 Base Case U3O8 Price (US$/lb) $65 $65 $65 $50 NPV8% (US$M) - $65/lb $431* $871 $1,041 $967 IRR (%) - $65/lb 25.1%* 93.3% 34.2% 55.3% Processing Type Acid Leach Heap Leach Acid Leach Heap Leach Throughput (tpd) 7,300 14,250 1,000 30,000 Mine Life (Yrs) 17 18 14 10 Annual Production (Mlbs) 3.0 3.0 7.2 6.1 LoM Production (Mlbs) 50.4 51.6 100.8 60.9 LoM Cash Cost (US$/lb) $31.65 $19.80 $14.02 $17.28 Initial Capex (US$M) $254 $81 $1,100 $300 LoM Capex (US$M) $367 $297 $1,339 $344 All-In Costs (US$/lb LoM production) $38.93 $25.56 $27.30 $22.91 Values as of Jan. 22nd, 2016
  8. 8. Developing An Emerging Uranium District 8 Plateau Uranium • Plateau Uranium controls one of the largest undeveloped uranium districts in the world with additional Lithium potential • Located on the Macusani Plateau, Puno, Southern Peru: concessions cover > 910 km2 • District offers exceptional exploration prospects & development potential • Excellent infrastructure: • Access to labour, water and inexpensive hydro-electric power • Transport (major highway runs past properties) • Plentiful supply of sulfuric acid • History of mining in the region • Minsur – San Rafael Tin Mine • Other gold & silver development projects • Supportive government and local communities
  9. 9. 2016 PEA Highlights • Robust financials • Low cash costs • Large-scale production • Manageable CAPEX • Scalability in both high/low price uranium environment • Resource expansion and by-product potential • Prepared by GBM Minerals Engineering Consultants, The Mineral Corp. & Wardell Armstrong International Paves the Way for PFS in 2016-17 9
  10. 10. Robust Project Economics at US$50 per lb U3O8 2016 PEA Highlights 10* All figures in US dollars January 2016 PEA Results* Mine life 10 years Average annual potentially mineable tonnes 10.9 million tonnes Average grade 289 ppm U3O8 Open pit strip ratio 2.05:1 Processing methodology Heap Leach Processing recovery rate 88% Acid consumption 9 kg/t Average annual production (LOM) 6.1 million lbs U3O8 Uranium price US$50/lb U3O8 Average cost of production US$17.28/lb U3O8 Initial capital expenditure US$299.8 million Sustaining capital expenditure US$43.9 million After-tax NPV (8% discount rate) US$603 million After-tax IRR 40.6 % Payback period 1.76 years Significant Improvements in Updated PEA • Consolidated resource estimate & new mining inventories improved throughput, average grade (+12%) and increased annual production • Met testing show potential for >88% recovery • PEA included data acquired from Cameco from their work on Minergia, improve leaching time, and acid consumption requirements • Fuel and other key mining cost drivers optimized under new mining sequence, land constraints from 2014 PEA removed • Project shows improved, robust economics at uranium prices below peer precedents; flexible economic production at varying uranium prices • Additional upside to be further considered prior to commencement of PFS
  11. 11. Project Adjacent to Road and Power Site Access & Regional Infrastructure 11* All figures in US dollars • 650 km southeast of Lima • Road Access – Interoceanic Highway just to the east linking the project to Pacific and Atlantic Ocean ports; all-weather gravel roads to communities • Juliaca – city and airport 220 km to the south with several daily flights from Lima • Grid power – San Gaban hydro generating station 20 km north; high voltage power lines adjacent to project • Mild Climate – low latitude, high altitude -2 to 15 °C typical range causing no issues for uranium processing
  12. 12. >60 million lbs Production Planned Over 10 Years – Additional Upside Proposed Mine Plan 12* All figures in US dollars 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 U3O8MlbsRecovered Year Colibri Isivilla Kihitian UG Kihitian Proposed Processing Plant
  13. 13. Standard Mining, Processing & Yellowcake Production Process Design – Mining & Processing 13* All figures in US dollars • Standard 30,000 tpd open pit mining with small underground operation contemplated using continuous miners/conveyors to supplement higher grade material • Low work index/crushing requirements • Standard acid heap leach uranium extraction process in proven use around the world • Standard Solvent Extraction with Ion Exchange (SX-IX) uranium precipitation producing yellowcake with no deleterious elements • Previous work by Cameco & Plateau predecessors demonstrate excellent leach kinetics, low acid consumption, high recoveries and in-spec yellowcake product • Future test work: significant potential exists to consider ore sorting/screening; tank leach processing and effects of lower acid cost
  14. 14. Capital Expenditures 14* All values denoted in USD LOM Project CAPEX Estimate Cost Centre Initial Phased Expansion Closure TOTAL Total Capital Investment $299,890,000 $43,911,000 $14,672,000 $358,473,000 FIXED CAPITAL TOTAL $250,619,000 $43,911,000 $14,672,000 $309,202,000 DIRECT TOTAL $167,079,000 $34,049,000 $13,100,000 $214,228,000 General $0 $0 $0 $0 Mining $0 $23,730,000 $0 $23,730,000 Processing $115,320,000 $2,551,000 $0 $117,871,000 Waste Management $16,786,000 $6,796,000 $13,100,000 $36,682,000 Product Handling $0 $0 $0 $0 Infrastructure $34,974,000 $971,000 $0 $35,945,000 INDIRECT TOTAL $83,540,000 $9,862,000 $1,572,000 $94,974,000 EPCM $25,062,000 $1,116,000 $0 $26,178,000 Field $8,354,000 $904,000 $262,000 $9,520,000 Contingency $50,124,000 $7,842,000 $1,310,000 $59,275,000 WORKING CAPITAL $49,271,000 $0 $0 $49,271,000 44% 14% 14% 10% 19% 17% 3% Initial CAPEX Breakdown Processing Waste Management Infrastructure EPCM Working Capital Contingency Field
  15. 15. $0.69 $11.02 $4.42 Average Annual OPEX Cost Breakdown (US$/lb) General & Administration Mining Process Waste Management Product Handling Infrastructure Operating Expenditures 15* All values denoted in USD * Royalties excluded Area Description Average Annual Cost Percent of total OPEX Average cost per tonne of PEM ($/t) LOM average cost per lbU308 produced ($/lb) TOTAL* 103,062,707 100.0% $9.46 $16.90 000 G&A COSTS $4,185,000 4.16% $0.38 $0.69 100 MINING $67,242,100 66.8% $6.17 $11.02 Weighed average of underground and open pit $69,613,280 67.5% $6.39 $11.41 200 PROCESS $26,937,917 26.1% $2.47 $4.42 Reagents $14,149,639 13.7% $1.30 $2.32 Personnel $2,737,428 2.66% $0.25 $0.45 Fuel & Lubricants $75,100 0.07% $0.01 $0.01 Electricity $6,370,331 6.2% $0.58 $1.04 Maintenance & Operating Spares $3,605,418 3.5% $0.33 $0.59 300 WASTE MANAGEMENT $1,044,031 1.0% $0.10 $0.17 Fuel & Lubricants $105,000 0.1% $0.01 $0.02 Electricity $939,030 0.9% $0.09 $0.15 400 PRODUCT HANDLING $306,787 0.3% $0.03 $0.05 500 INTRASTRUCTURE $975,691 0.95% $0.09 $0.16 Fuel & Lubricants $102,400 0.1% $0.01 $0.02 Consumables $873,291 0.85% $0.08 $0.14
  16. 16. Less Than 2-yr Payback of Capital at US$50/lb Uranium Economics – Cash Flow Model 16* All figures in US dollars
  17. 17. Robust Project Highly Sensitive to Expected Uranium Price Increase Project Sensitivities & Optimization 17* All figures in US dollars Uranium Price Sensitivities: (After-tax NPV8%/IRR) • At US$65/lb: $937.4M/55.3% IRR • At Current Term Uranium Price (US$44/lb): $457.4M/34% IRR • NPV break-even price: US$25.66/lb • 15% IRR at US$30/lb • Relatively less sensitive to operating and capital costs • Project highly leveraged to uranium price
  18. 18. Project Specific Opportunities 18 Substantial Project Upside to be Evaluated in 2016 • 85% of exploration land package undrilled • 52.9M lbs M&I/72.1M lbs Inferred resources defined on the project; <70Mlbs used as feed for PEA • Simplicity and low cost to explore and convert resources to reserves to prove up to feasibility study: shallow deposits; company has its owns drills – Discovery, delineation and acquisition costs to date at $0.36/lb in ground • Scalability: higher-grade/smaller capex options & larger robust options considered • Additional work on tank leach option planned – better recoveries and leach cycle times • Initial work by Cameco and others suggest potential economic improvement with size/screen sorting – additional work required. • Royalties: currently conservative 3% NSR assumed in PEA; in Peru royalties are negotiated and usually range between 1-3% of profits – upside for financial model • Evaluation of Lithium potential – large resource base, initial leach tests show 73% recovery • Strong Economics using $50/lb: project can be optimized for higher and lower price environments
  19. 19. Lithium & Potassium Resources 19 Evaluating By-product Lithium Potential Lithium Resources all within Uranium Resources • Only 4 deposits have sufficient Li analyses: Quebrada Blanca; Chilcuno; Tantamaco & Isivilla • All reported Li within 75 ppm U economic cutoff used in Uranium PEA • Colibri II/III uranium deposits have Lithium, but no Li resources established yet. Re-analysis of these deposits for Li is a planned priority • Lithium is widespread and very consistent throughout the host rocks – Li resources will grow Lithium recoveries of up to 73% in un-optimized external tests by K-UTEC experts • Additional extraction/precipitation work planned
  20. 20. Un-modelled U & Li Resources 20 Future Upside for Additional Resources to Extend Mine Life Corachapi and Corani Complexes • Not considered in PEA update (size/grade/proximity) • Existing Mineral Resource estimates of over 10 M lbs • Additional drill targets exist – higher grades expected Sayaña and Agaton Complexes • Substantial historical exploration drilling completed • 180 Drill Holes (13,000 m) • Mineralization and Uranium assay data positive; Lithium present, but re-analysis necessary • No current resource estimate – minor confirmation & in-fill drilling and QA/QC needed
  21. 21. Proposed Central Processing Plant (PEA Jan 2016) Regional Exploration – Key Targets 21 Over 910 km2 of Exploration Concessions 7.5 km radius • Consolidated >910 km2 land package • One of the largest uranium districts in the world • Un-tested Mineralized prospects at surface • Drilling focused on <15% of land package • Significant exploration potential exists • Uranium and by-product Li potential exists throughout the District
  22. 22. High Grade U Alternatives Evaluated 22* All figures in US dollars Financial Model Estimate Results (US$50/lb) Recovered U3O8 Pre-Tax Post-Tax Case Mlb/a NPV (M US$) IRR (%) NPV (M US$) IRR (%) Base Case 6.08 $852.7 47.6% $603.1 40.6% Case 1 4.26 $544.4 41.2% $417.4 37.3% Case 2 5.01 $733.5 49.4% $550.9 43.7% Case 3 4.50 $510.2 36.8% $397.2 33.9% Case 4 5.30 $679.9 43.2% $516.1 28.9% • Various alternative cases evaluated within PEA: • Case 1: Heap leach, open-pit mining only • Case 2: Heap leach, open pit & underground mining • Case 3: Tank leach, open pit mining only • Case 4: Tank leach, open pit and underground mining Alternative Case Cost Summary Case Initial Capital (millions US$) LOM Capital (millions US$) US$/t ROM US$/lb U3O8 Base Case $299.9 $358.5 $9.60 $17.28 Case 1 $247.5 $279.4 $14.60 $17.39 Case 2 $247.5 $291.4 $13.60 $15.95 Case 3 $267.4 $299.3 $17.60 $19.73 Case 4 $267.4 $311.3 $17.00 $18.81
  23. 23. Mining History in Peru 23 • Established mining industry in Peru • No current uranium production in the country • Established specific uranium exploration regulations • Working committee formed to advance uranium production permitting regulations: • Plateau Uranium representatives • INGEMMET (Institute of Geology, Mining & Metallurgy) • MEM (Ministry of Mines & Energy) • IPEN (Peruvian Nuclear Energy Institute) • International Atomic Energy Agency (IAEA) • Established in 1957 - Peru is a founding member state • “Red Book” resource reporting • Potential scientific & regulatory assistance
  24. 24. Community Engagement 24 • Twice yearly medical campaign • Employment of local community members from Isivilla, Tantamaco and Corani – drill/camp personnel; environmental monitoring; prospecting, etc. • Assisted establishing water treatment plant • Monthly madre leche (milk) program contribution • Schools programs sponsorship • Sponsorship of local & regional festivals • Loan road building equipment for local community use • Scaled for current and planned company activities
  25. 25. Permitting Environment in Peru 25 • Environmental Impact Study (EIA) to MEM • Builds on Exploration EIS – enhanced number of monitoring sites and frequency • Mine, processing infrastructure & tailings design details and Construction Plan • Includes a social relations plan/community agreement(s) • Certification of no archaeological remains in the area • Draft mine closure and remediation plan • Water rights from the National Water Authority • Surface lands right agreements with surface owners • Assuming all submissions are acceptable, approval to construct is granted within 1-4 months
  26. 26. Path to Production Except for statements of historical fact relating to Plateau Uranium, certain information contained herein constitutes forward-looking statements. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, variations in grades or recovery rates, risks relating to international operations, fluctuating currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated. 26 2016-2017 2018+ • Enhanced Environmental work • Drilling for new discovery & to convert inferred to measured and indicated • Advance uranium permitting & discussions with government • Further metallurgical test work including U and Li/K • Commence trade-off & optimization studies, PFS • Project financing • Commence construction • Drilling to convert resources to reserves • Feasibility Study • Complete EIA process submissions for construction/production permitting • Approvals 20-120 days 2018 Budget to PFS: $4-6M Budget to Complete BFS and Permitting: $8-10M Intend to position Plateau for production in 2019 to meet forecasted supply deficit
  27. 27. $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 LoMOperatingCashCosts(US$/lbU3O8) Low Production Cost vs Developers 27Source: Company Reports and Technical Reports. *Comparison of economic studies release since Jan. 2014 Peer Average: US$27.50
  28. 28. $0 $10 $20 $30 $40 $50 $60 All-InProductionCosts(US$M) “All-In” Production Costs 28* All figures in US dollars *Comparison of economic studies release since Jan. 2014 “All-In” Production Costs calculated based on Avg LoM Cash Operating Cost + LoM Capital Cost per lb of production Peer Average: US$39.00
  29. 29. Low Valuation vs Developer Peers 29Source: Company Reports and Technical Reports. As of May 5th, 2015. Only One of Three Development Projects with Study Supporting <US$30 ‘all-in’ Cost Mkt Cap (C$M) Location M&I Res. (Mlbs) Inf Res. (Mlbs) Study Date Ann. Prod (Mlbs) Mine Life (yrs) LoM Op. Cash Cost (US$/lb) “All-In Cost”* NPV8% - US$65/lb (US$M)** IRR (%) Vimy Resources $69M Australia 23.6M 49.2M PFS: Nov 2015 3.0M 17 yrs $32 $39 $431 25% Bannerman $21M Namibia 164.6M 106.1M FS: Nov 2015 7.2M 15.7 yrs $38 $48 $85 10% Berkeley $89M Spain 62.0M 28.4MM PFS: Nov 2015 3.0M 18 yrs $20 $26 $871 93% A-Cap Resources $15M Botswana 42.2M 148.2M Tech: Sept 2015 2.7M 18 yrs $41 $55 $240 24% Fission Uranium $256M Sask. 79.6M 25.9M PEA: Sept 2015 7.2M 14 yrs $14 $27 $1,041 34% GoviEx Uranium $7M Niger 110.8M 27.7M PFS: Aug 2015 2.7M 21 yrs $24 $39 $263 20% Azarga Uranium $18M S. Dakota 19.0M 13.4M PEA: Apr 2015 0.9M 11 yrs $19 $36 $114 57% Forsys Metals $13M Namibia 115.0M 11.0M FS: Mar 2015 5.2M 15 yrs $35 $45 $383 26% Uranium Resources $29M Turkey 11.3M 33.6M PFS: Feb 2015 0.8M 12 yrs $17 $30 $146 N/A Plateau *“All-In” Production Costs calculated based on Avg LoM Cash Operating Cost + LoM Capital Cost per lb of production. **After-Tax NPV8% except Vimy (Pre-Tax NPV10%) and A-Cap (US$81/lb uranium price deck)
  30. 30. Corporate Summary 30 TSX-V: PLU FSE:QG1 OTC:PLUUF Plateau Uranium Inc. Symbol:PLU Listed Exchange TSX-V Market Cap. ~$15 million Shares Outstanding 51,750,974 Warrants Outstanding 7,700,000 Options Outstanding 1,700,000 52 Wk Trading Range $0.23 to 0.45 Recent Share Price $0.30
  31. 31. Management & Board 31 Ian Stalker Chairman Over 30 years experience in mining development and operations in Europe, Africa, and Australia. Former CEO of UraMin Inc. until its acquisition by Areva in 2007 for US$2.5 billion. Former VP Exploration of Gold Fields Ltd., the fourth largest gold producer in the world at that time. Ted O’Connor CEO, Director Over 22 years of experience in the uranium industry, most recently as Director of Corp. Development at Cameco. In that role, he was responsible for evaluating, directing and exploring for uranium deposits worldwide. Mr. O’Connor has successfully led projects from generation through delineation and multiple acquisitions on uranium projects globally. Laurence Stefan President & COO, Director Founder of Plateau Uranium (formerly Macusani Yellowcake), serving as Managing Director in Peru since Oct. 2007. Dr. Stefan previously worked at Gold Fields of South Africa and JCI (Pty) Ltd. with recent years spent mainly on South American projects. Alan Ferry Director Current Lead Director of Guyana Goldfields Inc. and director of Avalon Rare Metals Inc and GPM Metals Inc Maryse Belanger Director Over 30 years of experience in the mining industry with strengths in operational excellence and efficiency. She was the Chief Executive Officer and Managing Director of Mirabela Nickel Ltd. responsible for the remarkable turn around of the company and the reestablishment of the Santa Rita open pit mine in Brazil. Former Senior Vice President, Technical Services at Goldcorp overseeing global geology, mine planning and design, metallurgy, hydrology, tailings dam and geotechnical engineering functions. Christian Milau Director Chartered Professional Accountant (CA) with executive experience in acquisitions, financing, mine development, construction and operations. He was CEO of True Gold Mining Inc., successfully negotiating and closing True Gold’s sale and acquisition by Endeavour Mining Corp. in April 2016. Mr. Milau successfully negotiated various community, security, fiscal and tax agreements. Formerly, Mr. Milau held senior positions at Endeavour Mining Corp., New Gold Inc., and in investment banking at BNP Paribas in London. Experienced & Proven
  32. 32. Analyst/Broker/News Coverage 32 Haywood Securities - Colin Healey RFC Ambrian – Jim Taylor Vicarage Capital - James Smith Hydra Capital - Malcolm Shaw Gold Stock Trades – Jeb Handwerger Plateau Uranium is on Investing News Network www.plateauuranium.com
  33. 33. Contact Information 33 Ted O’Connor Chief Executive Officer & Director 416-628-9600 ted@plateauuranium.com Ian Stalker Chairman & Director 416-628-9600 ian@plateauuranium.com Mohsen Kolahdouz Web/Investor Relations mohsen@publicology.com www.plateauuranium.com Head Office 141 Adelaide St. W., Suite 1200 Toronto, Ontario M5H 3L5
  34. 34. Appendix Slides 34
  35. 35. Uranium Supply and Demand 35* Source UxC Presentation January 2014
  36. 36. Growing Uranium Demand 36Source: World Nuclear Association (June 21, 2016) Global Demand For Electricity to grow 76% by 2030 Nuclear Reactors Worldwide: 442 Operating Worldwide 62 Under Construction 172 Planned 337 Additional Proposals Today’s Supply Crunch: 85% of demand met by mining 15% from secondary sources U3O8 Requirements Current Demand 170 MM lbs Reference Demand 270 MM lbs by 2030 Around The World: The Rise Of Nuclear Energy by 2030
  37. 37. U Price & Uncovered Demand 37* Source: Dundee Capital Markets, Company Reports, UxC (uxc.com) Utilities contract 2-4 years ahead – little Term contracting
  38. 38. NI 43-101 Uranium Resources 38 All Resources stated at 75 ppm U cutoff (1) Kihitian Complex includes the Chilcuno Chico, Quebrada Blanca, Tuturumani and Tantamaco deposits updated, May 6, 2015 (2) Isivilla Complex includes the Isivilla, Calvario Real, Puncopata and Calvario I deposits, updated May 6, 2015 (3) Corani Complex includes the Calvario II, Calvario III and Nueva Corani deposits, updated May 6, 2015 (4) Colibri II-III and Tupuramani remain unchanged, last updated August 14, 2013 (5) Corachapi remains unchanged, last updated September 8, 2010 Resources at 75 ppm cut-off Measured & Indicated Inferred Tonnes (Mt) Grade (ppm U3O8) Contained lbs (Mlbs U3O8) Tonnes (Mt) Grade (ppm U3O8) Contained lbs (Mlbs U3O8) Kihitian Complex(1) 47.7 Mt 261 ppm (0.575 lbs/t) 27.4 Mlbs 83.6 Mt 273 ppm (0.60 lbs/t) 50.3 Mlbs Isivilla Complex(2) 4.6 Mt 350 ppm (0.77 lbs/t) 3.5 Mlbs 16.1 Mt 293 ppm (0.645 lbs/t) 10.4 Mlbs Corani Complex(3) 3.4 Mt 166 ppm (.366 lbs/t) 1.3 Mlbs 6.1 Mt 131 ppm (0.288 lbs/t) 1.8 Mlbs Colibri 2 & 3 / Tupuramani(4) 27.9 Mt 240 ppm (0.529 lbs/t) 14.7 Mlbs 20.4 Mt 170 ppm (0.374 lbs/t) 7.7 Mlbs Corachapi(5) 11.6 Mt 195 ppm (0.43 lbs/t) 5.0 Mlbs 3.8 Mt 230 ppm (0.507 lbs/t) 1.91 Mlbs Total 95.2 Mt 248 ppm (0.546 lbs/t) 51.9 Mlbs 130.0 Mt 251 ppm (0.553 lbs/t) 72.1 Mlbs
  39. 39. NI 43-101 Uranium Resources 39 All Resources stated at 200 ppm U cutoff (1) Kihitian Complex includes the Chilcuno Chico, Quebrada Blanca, Tuturumani and Tantamaco deposits updated, May 6, 2015 (2) Isivilla Complex includes the Isivilla, Calvario Real, Puncopata and Calvario I deposits, updated May 6, 2015 (3) Corani Complex includes the Calvario II, Calvario III and Nueva Corani deposits, updated May 6, 2015 (4) Colibri II-III and Tupuramani remain unchanged, last updated August 14, 2013 (5) Corachapi remains unchanged, last updated September 8, 2010 Resources at 200 ppm cut-off Measured & Indicated Inferred Tonnes (Mt) Grade (ppm U3O8) Contained lbs (Mlbs U3O8) Tonnes (Mt) Grade (ppm U3O8) Contained lbs (Mlbs U3O8) Kihitian Complex(1) 16.23 Mt 505 ppm (1.11 lbs/t) 18.05 Mlbs 29.78 Mt 520 ppm (1.15 lbs/t) 34.1 Mlbs Isivilla Complex(2) 2.87 Mt 465 ppm (1.02 lbs/t) 2.94 Mlbs 7.21 Mt 500 ppm (1.10 lbs/t) 7.96 Mlbs Corani Complex(3) 0.42 Mt 342 ppm (0.75 lbs/t) 0.31 Mlbs 0.19 Mt 294 ppm (0.648 lbs/t) 0.12 Mlbs Colibri 2 & 3 / Tupuramani(4) 11.0 Mt 376 ppm (0.828 lbs/t) 9.12 Mlbs 3.29 Mt 363 ppm (0.8 lbs/t) 2.64 Mlbs Corachapi(5) 2.94 Mt 372 ppm (0.819 lbs/t) 2.41 Mlbs 1.14 Mt 443 ppm (0.98 lbs/t) 0.89 Mlbs Total 33.47 Mt 445 ppm (0.98 lbs/t) 32.8 Mlbs 41.62 Mt 501 ppm (1.10 lbs/t) 45.9 Mlbs
  40. 40. Lithium Demand & Price Increasing 40 • Present demand growth driven by E-Vehicles; Future by Grid Storage • Based on only 1-2% E-Vehicle penetration • Li-Carbonate input cost represents only ~2% of battery cost • Prices expected to normalize ~$7,500/t (Analyst and Producer consensus) • 40 years of Li battery development to date – 25 years commercial • No alternate battery technology expected for many years Source: Albemarle Corporation; from Cormark Securities March 2016 Source: Citigroup
  41. 41. NI 43-101 Lithium Resources All Resources stated at 75 ppm U cutoff; Announced March 22, 2016 • Lithium Resources from only 4 uranium deposits used in PEA • Lithium Carbonate Equivalent resources as follows: • Indicated Resources total 165,700 t Li2CO3 equivalent • Inferred Resources total 268,900 t Li2CO3 equivalent (Li2O to Li2CO3 conversion factor = 2.473)
  42. 42. High Elevation Mines metresabovesealevel 5400 5200 5000 4800 4600 4400 4200 4000 Minsur - San Rafael Tin Mine Chinalco - Toromocho Copper Mine Collahuasi - Copper Mine Antamina - Copper / Zinc Mine Plateau Uranium Other Operating Mines in the Andes 42
  43. 43. Nuclear Fuel Cycle 43

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