4
Toll Free: +1.888.715.7528 Telephone: +1.604.569.3690 Email: [email protected] TSX-V: WG OTC-QX: WGPLF WELLGREEN Yukon, Canada PGM - Ni- Cu SHAKESPEARE Ontario, Canada PGM - Ni- Cu INVESTOR FACT SHEET April 2014 Key Components for Successful Project Development 7M oz PGM+Au, 2B lbs nickel, 2B lbs copper estimated metal production 1 3 rd largest undeveloped PGM resource outside southern Africa or Russia 2 Projected potential to be one of the largest PGM producers in North America at low cash costs from base metals credits Executive team with track record of success in large scale project development, operations and project financing; specific PGM, Yukon & Sudbury District experience Expansion potential along strike and at depth with 3 large scale, high potential exploration targets The Yukon is ranked in the top 20 of global mining jurisdictions by the Fraser Institute Severe supply risk as production concentrated in politically unstable jurisdictions; steady demand growth from all sectors STRONG PGM SUPPLY / DEMAND FUNDAMENTALS MINING FRIENDLY, LOW POLITICAL RISK PRODUCTION PROFILE SIZE EXPLORATION POTENTIAL EXPERIENCED MANAGEMENT 1 This number reflects estimated metal production found in the NI 43-101 technical report entitled “Wellgreen Project Preliminary Economic Assessment, Yukon, Canada” dated August 1, 2012 (the “2012 Wellgreen PEA”) and prepared by Andrew Carter, Eur. Eng, C.Eng., Pacifico Corpuz, P. Eng., Philip Bridson, P.Eng, and Todd McCracken, P.Geo of Tetra Tech Wardrop Inc. This technical report is available under the Company’s SEDAR profile at www.sedar.com.

April 2014 Wellgreen Platinum Factsheet

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Page 1: April 2014 Wellgreen Platinum Factsheet

Toll Free: +1.888.715.7528Telephone: +1.604.569.3690Email: [email protected]

TSX-V: WGOTC-QX: WGPLF

WELLGREENYukon, Canada

PGM - Ni- Cu

SHAKESPEAREOntario, Canada

PGM - Ni- Cu

INVESTOR FACT SHEETApril 2014

Key Components for Successful Project Development

7M oz PGM+Au, 2B lbs nickel, 2B lbs copper estimated metal production1

3rd largest undeveloped PGM resource outside southern Africa or Russia2

Projected potential to be one of the largest PGM producers in North America at low cash costs from base metals credits

Executive team with track record of success in large scale project development, operations and project financing; specific PGM, Yukon & Sudbury District experience

Expansion potential along strike and at depth with 3 large scale, high potential exploration targets

The Yukon is ranked in the top 20 of global mining jurisdictions by the Fraser Institute

Severe supply risk as production concentrated in politically unstable jurisdictions; steady demand growth from all sectors

STRONG PGM SUPPLY /DEMAND FUNDAMENTALS

MINING FRIENDLY, LOW POLITICAL RISK

PRODUCTION PROFILESIZE

EXPLORATION POTENTIAL

EXPERIENCED MANAGEMENT

1 This number reflects estimated metal production found in the NI 43-101 technical report entitled “Wellgreen Project Preliminary Economic Assessment, Yukon, Canada” dated August 1, 2012 (the “2012 Wellgreen PEA”) and prepared by Andrew Carter, Eur. Eng, C.Eng., Pacifico Corpuz, P. Eng., Philip Bridson, P.Eng, and Todd McCracken, P.Geo of Tetra Tech Wardrop Inc. This technical report is available under the Company’s SEDAR profile at www.sedar.com.

Page 2: April 2014 Wellgreen Platinum Factsheet

Wellgreen Platinum | TSX-V: WG discover. | www.wellgreenplatinum.com

Stillwater only has Proven and Probable mineral reserve numbers, which are the economically minable part of Measured & Indicated mineral resource. Sources: Pacific North West – Investor Presentation, Fall 2013; Platina Resources – New Resource Estimate announcement July 2013; Duluth - Company presentation Dec. 2013 (M&I consists of only Indicated); Polymet - Updated NI 43-101 Technical Report on the NorthMet Deposit, Jan 2013; Stillwater - Company presentation Sep. 2013 and 2012 Annual Report; North American Palladium – Jan. 2014 Company presentation; Wellgreen Platinum - 2012 Wellgreen PEA. 1 Wellgreen estimated production is based on indicated and inferred resource. *Platinum production projection includes gold converted to platinum on a 1:1 basis. The qualified persons responsible for this Presentation have been unable to verify the information pertaining to other mines and this information is not necessarily indicative of the mineralization on the Wellgreen property and the expected production therefrom.

Drilling Station

7MOUNCES PGM+AU

*

2BPOUNDS NICKEL

*

2BPOUNDS COPPER

*

4 Updated resource estimate: Q2 2014 4 Marked increase in valuation in advanced stages

(US$/oz)

Ente

rpris

e Va

lue

/ Pt

Eq.

Res

ourc

e

Developers ProducersAdvanced Developers

Pt Eq. calculation includes platinum, palladium & gold

8

Note: EV as of Jan. 22,2014. Mineral resource includes Pt, Pd & Au. Pt Eq. calculated based on the following metal prices: Pt $1,270.38/oz, Pd $465.02/oz and Au $1,102.30/oz.Stillwater only has Proven and Probable mineral reserve numbers, which are the economically minable part of Measured & Indicated mineral resource. Sources: Pacific North West – Financial Statements forthe six months ended Oct. 31, 2013; Platina Resources - 2013 Annual report year ended June 2013; Duluth - Company presentation Dec. 2013 and Q3 2013 Financial Statements; Polymet - Updated NI 43-101Technical Report on the NorthMet Deposit, Jan 2013; Stillwater - Company presentations Sep. 2013 and Jan. 2014 and Q3 2013 Financial Statements; North American Palladium - 2013 Q3 Interim FinancialReport and Jan. 2014 presentation; Wellgreen Platinum – Q2 2014 Financial statement and 2012 Wellgreen PEA. Readers should note that the 2012 Wellgreen PEA is preliminary in nature, in that it includesInferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is nocertainty that the 2012 Wellgreen PEA will be realized. A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. A Mineral Reserve is the economically mineable part of aMeasured or Indicated Mineral Resource demonstrated by at least a prefeasibility study.

PGM COMPANY VALUATIONSLow Political Risk Jurisdiction Peers

Average EV/Pt Eq.

$3/oz

Average EV/Pt Eq.

$30/oz

Average EV/Pt Eq. $130/oz

| Corporate Overview l Executive Summary | Proven Project Management | PGM Company Valuations | Wellgreen Overview | Appendix

$-

$50

$100

$150

$200

$250

Platina Resources(Greenland)

Pacific North WestCapital (Ontario)

Wellgreen Platinum(Yukon)

Duluth Metals(Minnesota)

Polymet (Minnesota) Stillwater(Montana/Ontario)

North AmericanPalladium (Ontario)

Ente

rpris

e Valu

e / Pt

Eq. R

esou

rce

* These are estimated metal production numbers from the 2012 Wellgreen PEA.

PGM Production Projection Comparison* (N. American)

Wellgreen Districk Exploration Potential

PGM Company Resource Comparison PGM Company Valuations1 (N. American & Australian)

0

5

10

15

20

25

Pacific North West(Ontario)

Polymet (Minnesota) Prophecy Platinum(Yukon)*

Platina Resources(Greenland)

Duluth Metals(Minnesota)

North AmericanPalladium (Ontario)

Stillwater(Montana/Ontario)

PGM

+ A

u (M

oz.)

Measured & IndicatedInferred

Explorers and Developers Producers

A Key Exploration Objective is to

Increase Measured & Indicated

Wellgreen Platinum*(Yukon)

7

Note: Resource includes platinum, palladium and gold. Stillwater only has Proven and Probable mineral reserve numbers, which are the economically minable part of Measured & Indicated mineral resource.Sources: Pacific North West – Investor Presentation, Fall 2013; Platina Resources – New Resource Estimate announcement July 2013; Duluth - Company presentation Dec. 2013 (M&I consists of only Indicated);Polymet - Updated NI 43-101 Technical Report on the NorthMet Deposit, Jan 2013; Stillwater - Company presentation Sep. 2013 and 2012 Annual Report; North American Palladium – Jan. 2014 Companypresentation; Wellgreen Platinum - 2012 Wellgreen PEA. Readers should note that the 2012 Wellgreen PEA is preliminary in nature, in that it includes Inferred Mineral Resources that are considered toospeculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the 2012 Wellgreen PEA will be realized.A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstratedby at least a prefeasibility study. *Wellgreen mineral resource expressed as Pt Eq. including Pt, Pd & Au.

Reserves

Resources

PGM COMPANY RESOURCE COMPARISONLow Political Risk Jurisdiction Peers

| Corporate Overview l Executive Summary | Proven Project Management | PGM Peer Comparison | Wellgreen Overview | Appendix

*Source: Vale-Sudbury: Vale-Production report 2011(http://bit.ly/Z6qDV4); Stillwater Mine and East Boulder Mine: Q4 2011 Earnings Release (http://bit.ly/VMEkYH); Nickel Rim South: Johnson Matthey estimates (Raglan not included); NA Palladium-Nickel Rim South: NAP Annual Report 2011 (http://bit.ly/Vvn2t7). Wellgreen projections are average annual life of mine metals produced in concentrate based on the 2012 Wellgreen PEA.

300

250

200

150

100

50

Palladium Production (000 oz.)

Production Comparison

Wellgreen Platinum1

Wellgreen*(PEA Projection)

Potential to be 3rd largest

producer in North America

PGM PRODUCTION PROJECTIONS COMPARISONCompared to the Largest PGM Producing Mines in Low Political Risk Jurisdictions

10

Source: Vale-Sudbury: Vale-Production report 2011 (http://bit.ly/Z6qDV4) provides consolidated production for six Sudbury mines, which management allocated based on internal estimates; Stillwater Mine andEast Boulder Mine: 2013 Earnings Release; Nickel Rim South: Johnson Matthey estimates (Raglan not included); North American Palladium-Nickel Rim South: Annual Report 2013. Kevitsa 2013 results from first-quantum.com *Wellgreen projections are average annual metals produced in concentrate in first 24 years of mine life based on the 2012 Wellgreen PEA.1 Wellgreen estimated production is based on indicatedand inferred resource. The qualified persons responsible for this Presentation have been unable to verify the information pertaining to other mines and this information is not necessarily indicative of themineralization on the Wellgreen property and the expected production therefrom..

-

25

50

75

100

125

150

Stillwater -Stillwater Mine

Vale - Coleman WellgreenPlatinum -Wellgreen

Xstrata - Nickel RimSouth

Stillwater - EastBoulder Mine

First Quantum -Kevitsa

NA Palladium - Lacdes Iles

Plat

inum

Pro

duct

ion

(000

oz.

)

Platinum Production

Palladium Production

(Left axis)

(Right axis)

Scale displays Palladium value relative to Platinum

Wellgreen Platinum1

Wellgreen*(PEA Projection)

| Corporate Overview l PGM Fundamentals | PGM Peer Comparison | Wellgreen Overview | Shakespeare Project | Appendix

Platin

um Pr

oduc

tion (

0000

oz.)

Palla

dium

Prod

uctio

n (00

00 oz

.)

4 Projected potential to be one of the largest PGM producers in North America at low cash cost from metals credits

Page 3: April 2014 Wellgreen Platinum Factsheet

discover. | www.wellgreenplatinum.comWellgreen Platinum | OTC-QX: WGPLF

*PEA model head grades smoothed by reducing head grades 10% in 2025, 10% in 2027, 40% in 2028, 20% in 2030, 15% in 2034 and 10% in 2037. **Pt Eq. calculated as Pt Eq. = Pt + Pd x $465.02/$1,270.38 + Au x $1,102.30/$1,270.38, based on the 2012 Wellgreen PEA, which evaluated the economics of various metal price scenarios. The table above uses the scenario in the 2012 Wellgreen PEA that considered LME trailing 3-year average price minus 20% as of July 6, 2012. Readers should note that the 2012 Wellgreen PEA is preliminary in nature, in that it includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the 2012 Wellgreen PEA will be realized. A Mineral Reserve has not been estimated for the project as part of the 2012 Wellgreen PEA. A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a prefeasibility study. 2 Mineral resources that are not mineral reserves do not have demenstrated economic viability.

4 South Africa, Russia and Zimbabwe account for 93% of global Pt supply and 83% of Pd supply

4 ~70% of Pt producers’ all-in costs exceed avg. Pt price

Palladium Supply by Region 20136.58Moz

Source: CPM Group Precious Metals Advisory estimates

Wellgreen Economic Model Output - Based on the August 2012 PEA*

Mill throughput 32,000 tpd Mine Life 37 years

Initial capital $863M Average strip ratio 2.57:1

Metals Payable **Pt Eq.(koz)

Pt(koz)

Pd(koz)

Au(koz)

Ni(Mlbs)

Cu(Mlbs)

Co(Mlbs)

Average annual - First 24 years 138.5 68.9 92.4 41.3 50.4 59.1 3.5

Total - first 24 years 3,325 1,654 2,217 990 1,209 1,420 84

Average annual - life of mine 118.1 60.3 80.8 32.5 45.2 50.9 3.1

Total - life of mine 4,369 2,232 2,989 1,203 1,671 1,885 114

Wellgreen PEA Economic Model Output - First 24 Years of Production*

PEA Base Case Metal Prices - 20% **(Base Case Metal Prices = LME 3-year average price at July 6, 2012) Pre-tax NPV (8% discount rate) $973M

Pt $1,270.38/ozPd $465.02 /oz

Au $1,102.30/oz

Ni $7.58/lbCu $2.850/lbCo $12.98/lb

Pre-tax IRR (100% equity) 20%

Average annual pre-tax cash flow $205M

4 Johnson Matthey forecasts deficit in the platinum market to increases to 605koz. in 2013 from 340koz. in 2012, and palladium deficit to be 740koz

4 Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries

Platinum Supply by Region 20135.74Moz

* Source: Johnson Matthey

Source: CPM Group Platinum Group Metals Yearbook 2013

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000Russian Pt Production

South African Pt Production

South Africa 37%Russia

42%

Zimbabwe 4%

North America

14%

Other2%

6

• Pt supply is ~1/20th that of gold and 1/100th of silver• South Africa & Russia and Zimbabwe account for 93% of

global Pt supply and 83% of Pd supply• 2014 strikes have caused ~500,000 oz. loss in production

as of mid-March • Avg. annual production costs quadrupled since 20001

• ~70% of Pt producers’ all-in costs exceed avg. Pt price

Source: CPM Group Platinum Group Metals Yearbook 2013

Platinum Primary Supply by Region 2013Total 5.74Moz

Palladium Primary Supply by Region 2013Total: 6.58Moz

Primary Supply - Source: CPM Group Precious Metals Advisory estimates

South Africa, 72%

Russia14%

Zimbabwe7%

North America

5% Other2%

PLATINUM & PALLADIUM SUPPLY FUNDAMENTALS

| Corporate Overview | PGM Fundamentals | PGM Peer Comparison | Wellgreen Overview | Shakespeare Project | Appendix

Platin

um (0

000 o

z.)

Platinum production from South Africa & Russia has been declining since 2006

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Plat

inum

(000

oz)

Russian Pt Production

South African Pt Production

South Africa37%Russia

42%

Zimbabwe 4%

North America

14%

Other2%

9

• Pt supply is ~1/20th that of gold and 1/100th of silver

• South Africa, Russia and Zimbabwe account for 93% of global Pt supply and 83% of Pd supply

• Avg. annual production costs quadrupled since 20001

• ~70% of Pt producers’ all-in costs exceed avg. Pt price

Source: CPM Group Platinum Group Metals Yearbook 2012

Platinum Supply by Region 2013 - Total 5.74Moz

Palladium Supply by Region 2013 - Total 6.43Moz

Source: Johnson Matthey Platinum 2013 (http://bit.ly/15H8G41)

South Africa, 72%

Russia14%

Zimbabwe7%

North America

5% Other2%

PLATINUM & PALLADIUM SUPPLY FUNDAMENTALS

Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Supply Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix

Platinum production from South Africa and Russia has been declining since 2006

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

Plat

inum

(000

oz)

Russian Pt Production

South African Pt Production

South Africa37%Russia

42%

Zimbabwe 4%

North America

14%

Other2%

9

• Pt supply is ~1/20th that of gold and 1/100th of silver

• South Africa, Russia and Zimbabwe account for 93% of global Pt supply and 83% of Pd supply

• Avg. annual production costs quadrupled since 20001

• ~70% of Pt producers’ all-in costs exceed avg. Pt price

Source: CPM Group Platinum Group Metals Yearbook 2012

Platinum Supply by Region 2013 - Total 5.74Moz

Palladium Supply by Region 2013 - Total 6.43Moz

Source: Johnson Matthey Platinum 2013 (http://bit.ly/15H8G41)

South Africa, 72%

Russia14%

Zimbabwe7%

North America

5% Other2%

PLATINUM & PALLADIUM SUPPLY FUNDAMENTALS

Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Supply Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix

Platinum production from South Africa and Russia has been declining since 2006

10

• Johnson Matthey forecasts deficit in the platinum market to increase to 605,000oz. in 2013 from 340,000oz. in 2012, and 2013 palladium deficit to be 740,000 oz.

• Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000Vehicle Sales in Brazil, Russia, India and China

Brazil

Russia

China

India

Platinum Demand 2013 - Total 8.4Moz

Autocatalyst, 72%

Electrical 11%Jewellery 4%

Investment 1%

Dental 5%Chemical 6%

Other 1%

Palladium Demand 2013 - Total 9.6Moz

Source: SIAM, China Automotive Information Network, AEB, ANAFAVEA, and CPM Group

Thousand Vehicles

Source: Johnson Matthey Platinum 2013 Interim Review

Autocatalyst, 37%

Jewellery 33%

Investment9%

Chemical 6%Other 5%

Medical & Biomedicals

3%

Petroleum 2%

Glass 3%Electrical 2%

PLATINUM & PALLADIUM DEMAND FUNDAMENTALS

Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Demand Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix

10

• Johnson Matthey forecasts deficit in the platinum market to increase to 605,000oz. in 2013 from 340,000oz. in 2012, and 2013 palladium deficit to be 740,000 oz.

• Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000Vehicle Sales in Brazil, Russia, India and China

Brazil

Russia

China

India

Platinum Demand 2013 - Total 8.4Moz

Autocatalyst, 72%

Electrical 11%Jewellery 4%

Investment 1%

Dental 5%Chemical 6%

Other 1%

Palladium Demand 2013 - Total 9.6Moz

Source: SIAM, China Automotive Information Network, AEB, ANAFAVEA, and CPM Group

Thousand Vehicles

Source: Johnson Matthey Platinum 2013 Interim Review

Autocatalyst, 37%

Jewellery 33%

Investment9%

Chemical 6%Other 5%

Medical & Biomedicals

3%

Petroleum 2%

Glass 3%Electrical 2%

PLATINUM & PALLADIUM DEMAND FUNDAMENTALS

Corporate Overview | Proven Project Management | PGM Peer Comparison | 8 PGM Fundamentals 4 Demand Fundamentals | Wellgreen Overview | Shakespeare Overview | Summary | Appendix

Platinum Demand 20137.3Moz

Palladium Demand 20139.0Moz

Source: CPM Group Precious Metals Advisory estimates

Platinum & Palladium Demand Fundamentals

Platinum & Palladium Supply Fundamentals

28

• Johnson Matthey estimates that the deficit in the platinum market increased to 605,000 oz. in 2013 from 340,000 oz. in 2012, and that the 2013 palladium deficit was 740,000 oz.

• Autocatalyst demand is expected to rise due to increasing global environmental standards & strong auto demand from BRIC countries

Platinum Demand 2013 - Total 8.4Moz

Autocatalyst, 72%

Electrical 11%Jewellery 4%

Investment 1%

Dental 5%Chemical 6%

Other 1%

Palladium Demand 2013 - Total 9.6Moz

Source: Johnson Matthey Platinum 2013 Interim Review

Autocatalyst, 37%

Jewellery 33%

Investment9%

Chemical 6%Other 5%

Medical & Biomedicals

3%

Petroleum 2%

Glass 3%Electrical 2%

PLATINUM & PALLADIUM DEMAND FUNDAMENTALS

Source: CPM Group

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14p

India China Russia Brazil

Vehicle Sales in Brazil, Russia, India, and ChinaAnnual, Projected Through 2014Thousand Vehicles Thousand Vehicles

35,000

30,000

25,000

20,000

15,000

10,000

5,000

| Corporate Overview l Executive Summary | Proven Project Management | PGM Company Valuations | Wellgreen Overview | Appendix | PGM Fundamentals

Appendix

Source: CPM Group

Vehicle Sales in Brazil, Russia, India and China

2014 PEA Update Targets

Staged production: higher grade, lowerCAPEX ($300-400M) start-up operation

Metallurgy: improved PGM recovery rates

Energy: LNG ~50% reduction in power costvs. diesel assumption

Rare PGMs: inclusion in economics

Page 4: April 2014 Wellgreen Platinum Factsheet

420-1090 West Georgia St.Vancouver, BCCanada, V6E 3V7

+1.604.569.3690info@wellgreenplatinum.comwww.wellgreenplatinum.com

Certain statements contained herein constitute “forward-looking statements.” Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “plans,” “intends,” anticipates,” “should,” “estimates,” “expects,” “believes,” “indicates,” “targeting,” “suggests,” “potential,” and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Investors are advised to review the Company’s Annual Information Form filed at www.sedar.com for a detailed discussion of investment risks. John Sagman, P.Eng, the Company’s Senior Vice President and Chief Operating Officer, is the Qualified Person who reviewed all of the technical information contained in this factsheet.Wellgreen has included certain non-GAAP measures, costs of Pt Eq per ounce in this Factsheet. The non-GAAP measures do not have any standardized meaning within Canadian GAAP and therefore may not be comparable to similar measures presented by other companies. The Company believes that these measures provide additional information which is useful in evaluating the Company. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with Canadian GAAP.

Share Information (Mar 28, 2014)

Issued & outstanding 83,085,631Options & SARs (avg. strike $0.99) 12,799,618Warrants (avg. strike $1.24) 15,687,271Fully Diluted 111,572,520Market Cap ~70 Million

= New Board and Chairman Fall 2013= No debt= Updated PEA & Resource expected Q2 2014

Major Shareholders

Large Private Investors 25%Institutions 21%Management / Insiders 8%

Production Ready4 Fully-permitted, open pit PGM-Ni-Cu mine4 “Brownfield” project with ore shipping potential to regional Xstrata or Vale facilities 4 Evaluation of prior OPEX (mining, transport and milling costs) in progress with target of 20- 25% reduction to render economic at target base metals prices 4 Assuming OPEX reduction and stabilized metals prices, minimal capital required for potential 2014 restart as direct shipping operation4 Accessing economics of construction of permitted mill facility

Significant Production Profile & Near Term Cash Flow Potential4 Average annual production of 25,000 oz PGMs+Au, 8M lbs Ni and 10M lbs Cu over the life of the mine plan4 Potential for significant near term cash flow generation

Reserve and Resource Support Life of Mine Plan4 Probable Mineral Reserve* 11.8 mt 0.87g/t PGM+Au, 0.33% Ni, 0.35% Cu4 More than 90% remaining in mine production plan4 Potential for underground reserves

*Mr. Terrence Hennessey, P.Geo, of Micon is the qualified person for the mineral re-source estimate. Mr. Eugene Puritch, P.Eng. of P&E Engineering is the qualified person for the mineral reserve estimate. Mr. Ian Ward, P.Eng. of Micon is the qualified person for the feasibility study by Micon dated January 2006. Production profile based on Addendum to the Feasibility Study by Micon dated February 2008. Additional Mineral Resource (3.87 mt Indicated mineral resource, 1.87 mt Inferred mineral resource) an-nounced August 2012. Updated Mineral Resource estimate for the Shakespeare De-posit Underground East Zone prepared by P&E Mining Consultants Inc. The Qualified Persons for this Mineral Resource estimate are: Richard Routledge, M.Sc. (Applied), P.Geo., Eugene Puritch, P.Eng, and Antoine Yassa, P. Geo.

Research Coverage

GMP Securities | Mackie Research Capital Corp.

Fully-permitted, Open pit

4 Metallurgical test work aimed at recovery optimization

4 Update Wellgreen PEA: Q2 2014

4 Transportation and logistics studies

4 Drill program targeting higher-grade lower CAPEX start-up, conversion

of Inferred to M&I resources & priority exploration targets with

potential for near surface discoveries

4 Initiate Prefeasibility-level studies and environmental

assessment process

4 Environmental baseline studies and First Nations Consultation

4 Feasibility Studies, Final Permitting and Construction

4 Update feasibility study on mill construction for

Shakespeare PGM-Ni-Cu Mine

Target Milestones Over the Next 24 Months

Greg Johnson, P. Geo. | President & Chief Executive Officer

• 25 years of experience in the development of large scale projects in Alaska, BC, Nevada and South America

• Involved in raising over $650 million in financing

• Former President and CEO at South American Silver & Co-founder of NovaGold

John Sagman, P. Eng., PMP | Senior VP & Chief Operating Officer

• Over 30 years experience in design, development, commissioning and management of both open pit and underground PGM, Au, Cu & Ni mining projects in the Yukon, BC and Sudbury, Ontario

• Former VP Technical Services with Capstone, Project Manager with Xstrata & Vale Ni-PGM projects

Jeffrey Mason, CA | Chief Financial Officer

• 25 years public company experience; exploration to operations for PGM, Au, Cu, Ni projects in Alaska, BC, China, & South Africa

• 15 years Principal and CFO, Hunter Dickinson Inc., including CFO, Corp. Sec. & Director for 15 public TSX/AMEX/NASDAQ companies

• Former CFO of TasekoMines Ltd; acquisition of dormant Gibraltar Cu-Mo mine in BC, advanced to 2nd largest operating open pit Cu mine in Canada

Key Management

Shakespeare PGM-Ni-Cu Mine