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Valuable Copper and Gold Investment Opportunity. Own the Mine, Own the Gold. Sell the Copper. Invest and help develop a world class mine that will generate strong cash flow and provide incredible health, education and employment benefits to local people a third world country
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Investor PresentationKyrgyz High Grade Copper and Gold
+
Australian Nickel and CopperFebruary 2014
ASX:WCNPAGE 2
• High grade epithermal copper and gold at surface; and
• Extensive copper‐gold porphyry system at surface
• Current ownership 57% with option to increase to 89%
• High Impact exploration commences– April 2014– 2000m trenching– 4000m drilling
• Extensive news flow in 2014
White Cliff – Investment Overview
• Lake Johnston Nickel & Copper (100%)– Extensive ultramafic rocks– Multiple high priority EM targets with;– Associated Ni‐Cu‐PGE soil anomalies– $150,000 government co‐funding– 100% ownership
• High Impact exploration commences:– April 2014– 1000m+ drilling
• Merolia Nickel & Copper Project(100%)– Electromagnetic surveys targeting
sulphides – March 2014
Kyrgyz Copper‐Gold Project West Australian Nickel Projects
ASX:WCNPAGE 3
Corporate Snapshot
Capital StructureShares 186.1M
Options116.2m ‐ 6c ex price expiring 30/9/20145.75m ‐ 25c ex price expiring 30/6/2014
122 M
Cash (30 December 2013) $0.55 M
Share Price $0.016
Market Cap $3.0 M
Board of DirectorsManaging Director Todd Hibberd
Executive Chairman Michael Langoulant
Non‐exec Director Rodd Boland
Major ShareholdersDirectors and Founders 15%
Top 20 32%
Top 50 54%
Top 100 69%
• Experienced team
• Tight capital structure
• Highly leveraged to exploration success
ASX:WCNPAGE 4
The Chanach Copper‐Gold Project
The Aucu Deposit• Epithermal copper‐gold
– High grade– 5‐10 metres wide– Rock chip channel results:
• 7 metres at 3.8% copper and 30 g/t gold
• 10 metres at 1.7% copper• 9 metres at 6 g/t gold
• +1km2 target zone
The Chanach Deposit• Porphyry copper‐gold
– Moderate grade– 100‐500 metres wide– Drill results (from surface):
• 10 metres at 1.01% Cu• 14 metres at 0.77% Cu• 50 metres at 0.49% Cu• 80 metres at 0.50% Cu
• +3km2 target zone
ASX:WCNPAGE 5
Chanach ‐ Option to increase Ownership
• Option to increase White Cliff’s ownership in Chanach from 57% to 89% by:– acquiring T2Gold’s 32% interest
• Option exercised through consideration of:– Option fee of $5,000
– $45,000 cash; and
– 73,841,667 White Cliff shares (escrowed for 12 months or 3 months if distributed in‐specie by T2Gold to their shareholders)
Pro‐forma Capital StructureShares 260M
Options116.2m ‐ 6c ex price expiring 30/9/20145.75m ‐ 25c ex price expiring 30/6/2014
122 M
Cash (30 December 2013) $0.55 M
Share Price $0.016
Market Cap $4.1 M
ASX:WCNPAGE 6
Location‐Access‐Infrastructure
• North‐western Kyrgyz Republic
• Excellent access roads
• Local Airstrip
• Close to regional mining support hubs– 175km to Taraz
– 200km to Namagan
• Near operating mines– Terek Sai (Au)
– Bozymchak (Cu‐Au‐Ag)
– Ishtamberdy (Au)
ASX:WCNPAGE 7
Copper‐Gold Targets and Tenure
• Two Copper‐Gold deposits
• Multiple porphyry and quartz vein targets defined by:– Surface alteration– Rock sampling– Geological mapping
• 83km2 permit– Valid to Dec 2015– Can be extended
for two years– Converts to mining
permit (25 years)
ASX:WCNPAGE 8
Aucu ‐ A High Grade Epithermal System
• High grade copper and gold– Exposed at surface– Mineralised quartz veins and halos 5‐10 metres wide
– Multiple faults up to 1km long
• Significant tonnage potential at high grades– +1km2 target zone
• Key value driver in 2014
• Rock chip channel results:– 7 metres at 3.8% copper and 30 g/t gold
– 10 metres at 1.7% copper– 9 metres at 6 g/t gold
Aucu copper-gold discovery within Chanach permit
ASX:WCNPAGE 9
Aucu Geology and Mineralisation
Target zone:+1km2 alteration systemPurple hatch:exposed alteration(quartz-sericite-pyrite)
Blue oval:+1km2 alteration systemPurple hatch:exposed phyllic alteration quartz-sericite-pyrite
Mineralised faults:• Main exploration target• Part of an extensive
fault system• Three zones• See next slide
ASX:WCNPAGE 10
Aucu Copper and Gold Assay Results
High grade trench rock chip channel results including:
• 7 metres at 3.8% copper and 30.1 g/t gold
• 10 metres at 1.8% copper including 1m at 106 g/t gold
• 9 metres at 6 g/t gold
1
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ASX:WCNPAGE 11
Aucu 2014 Exploration Plan
• Follow up 2013 high grade copper and gold results– 2000m trenches at 50‐100 metre spacing to define orientation and scale of deposit.
• Drill mineralised zones– ~2500m of RC drilling– Following up best trenching and sampling results
Planned Trenches:• Blue-50m spaced• Grey -100m spaced
Targeting mineralised faults (red)
ASX:WCNPAGE 12
• Extensive Copper mineralisation identified from surface• 23 of 25 drill holes mineralised (depths ranged from 100‐350m)• Wide zones of mineralisation identified
• Significant Copper grades (and associated gold)• 80 metres at 0.5% copper in supergene zone including;
• 10 metres at 1% copper
• 40 metres at 0.5% copper in supergene zone• 180 metres at 0.2% copper and 0.15 g/t gold including;
• 34 metres at 0.40% copper and 0.26 g/t gold
• Potential for a very large tonnage, moderate grade deposit
Chanach Porphyry Copper Deposit
ASX:WCNPAGE 13
Chanach Interpreted Mineralisation
Zone 1
Zone 2
Zone 3
ASX:WCNPAGE 14
Kyrgyz 2014 Exploration Plan
• Follow up 2013 high grade copper and gold results– 2000m trenches at 50‐100 metre spacing to define orientation and scale of deposit.
• Drill mineralised zones– ~2500m of RC drilling– Following up best trenching and sampling results
• Expand mineralised footprint
• Drill mineralised zones– ~1500m of RC drilling– zones two and three
• Metallurgical test work– Copper leach test work (oxide component)
– Baseline metallurgical test work (sulphide component)
Aucu Copper‐Gold Deposit Chanach Copper‐Gold Deposit
ASX:WCNPAGE 15
Australian – Nickel and Copper (100%)
• Lake Johnston– Nickel sulphide targets– High Impact drilling Apr 14– $150,000 in government co‐funding for drilling
• Merolia– Targeting Nova‐Bollinger style nickel and copper sulphide systems
– EM survey Mar 14
LAKE JOHNSTON
MEROLIA
ASX:WCNPAGE 16
Lake Johnston
• Lake Johnston Region:– Existing nickel mines
• (Norilsk Nickel)
– Good Infrastructure– 250km to Esperance Port
• Mt Glasse Prospect– Multiple EM targets– Anomalous Ni‐Cu‐PGE soils– Drilling +1000m in April 2014– 4 EM conductors to be tested
Lake PercyGeochemistry survey
Dec 2013
Mt GlassePlanned drilling
March 2014
Norilsk Nickel Mines
ASX:WCNPAGE 17
• Multiple nickel sulphide drill targets– strong conductors
– on ultramafic contacts with associated sediments
– High Ni‐Cu‐Pt‐Pd soil values
• Existing drill results:– 4m at 1.3% Ni and 330 ppm Cu
– 4m at 1.2% Ni and 500 ppm Cu
Mt Glasse Nickel and Copper (100%)
Cross Section
ASX:WCNPAGE 18
Mt Glasse Cross Section
Surface Ni-Cu-Pt-Pd Anomaly
ASX:WCNPAGE 19
• Emerging nickel province with recent discoveries at:– Camelwood (Ni)
– Collurabie (Ni‐Cu‐PGE)
– Mulga Tank (Ni‐Cu)
• In a world class region:– Mt Keith >2 Mt Ni metal
– Perseverance >1 Mt Ni metal
– Kambalda >1 Mt Ni metal
Merolia Nickel‐Copper Project (100%)
Merolia Nickel-Copper Project
ASX:WCNPAGE 20
• Layered Mafic‐Ultramafic Intrusive complex
• Multiple nickel‐copper and platinum targets– Diorite Hill‐Rotorua complex
– Coglia complex
• Large landholding (771 km2)
• Planned exploration– Electromagnetic survey
– RC drilling (2000m) Q2‐14
Merolia Ultramafic Complex
Coglia Complex
Diorite Hill-RotoruaComplex
ASX:WCNPAGE 21
Forward Exploration Schedule
Activity Project Commodity Q12014
Q22014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Drilling Lake Johnston Nickel‐Copper April April
EM Merolia Nickel‐Copper April April
Trenching Aucu Copper‐Gold April
Magnetics Aucu‐Chanach Copper‐Gold May
Trenching Chanach Copper‐Gold June
Drilling Aucu Copper‐Gold July Aug
Drilling Chanach Copper‐Gold Aug
This plan represents the Company’s current view of planned exploration of events and is therefore subject to change
ASX:WCNPAGE 22
• Extensive mineralised system– The high grade Aucu Epithermal
Deposit
– The large scale Chanach Porphyry Deposit
• Exploration commences April 2014 delivering regular, high impact news flow in 2014– 2000m trenching– 4000m drilling
White Cliff – Investment Summary
• Two highly prospective projects– Lake Johnston Nickel‐Copper
Project
– Merolia Nickel‐Copper Project
• 100% ownership
• High Impact exploration starts April 2014
– >1000m drilling on multiple targets– Electromagnetics to define further
nickel sulphide targets
Kyrgyz Copper‐Gold Project (89%) West Australian Nickel Projects
Providing investors a highly leveraged exposure to exploration success from an active 2014 exploration program
ASX:WCNPAGE 23
Forward Looking Statements
• This presentation has been prepared by White Cliff Minerals Limited (“White Cliff”). It contains forecasts and forward looking statements which are noguarantee of future performance and which involve certain risks. Actual results and future outcomes will in all likelihood differ from those outlined herein.The presentation should not be construed as an offer or invitation to subscribe for or purchase securities in White Cliff. Nor is it an inducement to make anoffer or an invitation with respect to said securities.
• Forward‐looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” andsimilar expressions are intended to identify forward‐looking statements. These statements include, but are not limited to statements regarding futureproduction, resources or reserves and exploration results. All such statements are subject to certain risks and uncertainties, many of which are difficult topredict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied orprojected by, the forward‐looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to theinterpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possiblevariations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii)the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreignexchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaininggovernmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’sprospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward‐looking statements that speak only asof the date hereof, and we do not undertake any obligation to revise and disseminate forward‐looking statements to reflect events or circumstances afterthe date hereof, or to reflect the occurrence of or non‐occurrence of any events.
Competent Persons Statement
• The information in this report that relates to mineral exploration results, resources or reserves is based on information compiled by Mr Todd Hibberd, B.ScHons (Geol), MSc, Dip Bus, Member AusIMM, Member AICD and an employee of White Cliff Minerals Limited. Mr Hibberd has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Hibberd consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
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Disclaimer and Important Information
ASX:WCNPAGE 24
Todd HibberdManaging Director
T: +61 (8) 9321 2233
Mike LangoulantChairman
T: +61 (8) 9321 2233
White Cliff Minerals Limited T: +61 (8) 9321 2233A: Suite 2, Level 1, 47 Havelock Street, West Perth WA 6005 | P: PO Box 368, West Perth WA 6872E: [email protected] | W: www.wcminerals.com.au
Contacts
ASX:WCNPAGE 25
APPENDIX 1‐ THE KYRGYZ REPUBLIC
ASX:WCNPAGE 26
Kyrgyz Republic – Central Asia
• Democratic Republic• Borders Kazakhstan and China
• Good Infrastructure• Strong mining culture• Low cost labour and power regime
Date Event
2010 Democratic Elections
2012 Improved mining laws• 5 year Permit• Can be extended 2+2• 25 year exploitation permit
2013 Improved tax regime• Royalty 3%• Sales Tax 2%• Region Tax 2%• Income Tax 10%
ASX:WCNPAGE 27
International Mining in Kyrgyz
Company DepositContained Gold
(Oz)Contained Copper (kt)
$USD Investment
Centerra Kumtor 13.5 Million $5B
Orsu Taldybulak 3.3 Million 223 $100M
Charaat Charaat 5.6 Million $396M*
Manas Shambesai ‐ Obdilla 697,000 $43M
Robust Andash 679,000 77 $130M
Kazakhmys Bozymchak 1.0 Million 170 $130M* 2011 prefeasibility estimate
ASX:WCNPAGE 28
Regional Mining Activity
Tien Shan‐Copper Belt
Deposit Mining Status
Terek Sai (Au) Production
Bozymchak (Cu‐Au) Production
Ishtamberdy (Au) Production
Charaat (Au) Approved
Kuru Tegarek (Cu‐Au) Exploration
ASX:WCNPAGE 29
Regional Mining (100km radius)
~ tonnage and grade approximate
Deposit Type Tonnes Copper % Gold (g/t) Contained Copper (Mt)
Contained Gold (Oz)
Kalmakyr Porphyry 2500 Mt 0.38 0.50 9.5 40.1 Million
Dalnee Porphyry 2800 Mt 0.36 0.35 10.0 31.5 Million
Kuru Tegerek Porphyry 173 Mt 0.59 0.56 1.02 3.1 Million
Bozymchak Porphyry 20Mt 0.85 1.56 0.17 1.0 Million
Charaat Vein 30 Mt ‐ 4.1 ‐ 4.0 Million
Terek Sai Vein ~23 Mt ‐ ~3 ‐ 2.2 Million
Ishtamberdy Vein 15.9Mt ‐ 4.9 ‐ 2.5 Million