Presentation Transcript

1. TSX.V: WKM November 2012 Near Term Development Long Canyon Trend Exploration At and Near Surface Gold TUG Conceptual Pit Model
2. This presentation has been prepared by West Kirkland Mining Inc. (“West Kirkland” “WKM” or the “Company”). Information included in this presentation regarding the Company’s mineral properties has been compiled by R. Michael Jones, P.Eng, the President and Chief Executive Officer of the Company, and a non-independent Qualified Person for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), based on the independent technical reports, and Press Release Information filed by the Company with the Canadian securities regulators. For more detailed information regarding the Company and its mineral properties, you should refer to the Company’s independent technical reports and other filings with the Canadian securities regulators, which are available at www.sedar.com. Scientific or Technical information contained herein is derived from the Company’s technical reports which include more detailed information with respect to the Company’s properties, including the dates of such reports and the estimates included therein, details of quality and grade of each resource, details of the key assumptions, methods and parameters used in the resource estimates, a general discussion of the extent to which the resource estimates and the other estimates and projections included in the reports may be materially affected by any known environmental, permitting, legal, taxation, socio-political, marketing, or other relevant issues. Information included in this presentation, the Company’s independent technical reports and the Company’s other public statements related to its mineral properties has been prepared in accordance with securities laws in effect in Canada. This presentation also contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This presentation is not an offer to sell, or a solicitation to buy, any securities in any jurisdiction. The Toronto Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by the Company. Historical results presented herein are not guarantees or expectations of future performance. Certain of the statements made herein, including statements regarding the timing of future activities and achievements by the Company, future anticipated exploration and development programs, business plans, potential mining scenarios and timing of production, business trends and future operating factors and anticipated supply and deficits, are forward-looking and subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. In addition, technical results constitute forward-looking statements to the extent that they represent, respectively, estimates of mineralization that may be encountered upon additional exploration and estimates of the capital and operating expenses, metals and currency prices and other operating conditions that may be encountered in the future. Forward-looking statements are necessarily based on a number of estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, among others: metals price volatility; demand and supply; additional fundraising requirements; defective title to mineral claims or property; discrepancies between actual and estimated reserves and resources, between actual and estimated development and operating costs, between actual and estimated metallurgical recoveries and between estimated and actual production; changes in national and local government legislation (including environmental legislation), taxation, controls, regulations and political or economic developments in Canada, or other countries in which the Company does or may carry out business in the future; success of exploration activities and permitting time lines; the speculative nature of mineral exploration, development and mining, including the risks of obtaining necessary licenses and permits; dilution; competition; currency fluctuations; and loss of key employees. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, mine collapses, cave-ins or flooding (and the risk of inadequate insurance or inability to obtain insurance, to cover these risks). The Company undertakes no obligation to update publicly or release any revisions to forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. Notice to US investors: This presentation uses the terms “inferred mineral resources.” We advise U.S. investors that while these terms are recognized and required by Canadian regulations, the SEC does not recognize them. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category. Under Canadian rules, estimates of “inferred mineral resources” may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade without reference to unit measures. The terms “contained gold ounces” and “contained silver ounces” used in this press release are not permitted under the rules of the SEC. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally mineable.
3. Why West Kirkland Mining? WKM Regional Exploration Large land packages in two of North America’s most prolific gold-producing regions Proven management team and veteran geologists with a discovery track record working their respective trends Building value Defined gold resource Partnered with Newmont First gold deposit surrounded by 1000 square kilometers of exploration ground WKM land position is located adjacent to Newmont’s Long Canyon properties Newmont is actively drilling on exploration targets within Long Canyon Trend
4. Share Structure (As of Oct 17, 2012)
5. Corporate Management – Board of Directors R. Michael Jones, B.A.SC., P.Eng Director, President & CEO President, Director and CEO of Platinum Group Metals. Co-founder of West Timmins Mining – purchased by Lake Shore Gold Corp. in 2009. Co-founder of MAG Silver Corp. Founder of Glimmer Resources. Founder of companies that have discovered four mines, including two gold mines in the Kirkland Lake – Timmins area. Frank Hallam, B.B.A., C.A.Director, CFO & Corporate Secretary Founder of New Millennium Metals Corp. - amalgamated with Platinum Group Metals Ltd., where he currently serves as a director and CFO. Co-founder and director of MAG Silver Corp. Director of Lake Shore Gold Corp. Pierre Lebel, DirectorChairman of Imperial Metals Corporation since 2003, prior President from 1986-2003. Extensive experience in managing public companies serving as a director of a number of public companies during his career. Eric Carlson, Director Over 17 years of real estate investment, development, and management experience. President and Chief Executive Officer of Anthem Properties Corp. since July 1994. John S. Brock, Director Over 40 years of service in an executive role with 20 public junior companies. Through these companies under his management he has participated in 12 major mineral deposit discoveries worldwide.
6. Technical Management – Local Gold Discovery Track RecordWKM’s management has discovery track record of several large-scale gold mines in the districts where we are currently exploring. Our exploration managers are established and live in the gold districts where we operate R. Michael Jones, B.A.SC., P.EngDirector, President & CEO Michael G. Allen, P. Geo. VP Exploration A broad range of experience from grass roots exploration to underground development and mine construction management in multiple deposit types and jurisdictions. Work history includes DeBeers Canada, Rubicon Minerals, and Taseko Mines. Rich Histed, B.A. Geo. Manager, USA 30 years experience in exploration of precious metals and other commodities with Homestake Mining, Barrick Exploration USA, Golden Star Resources, North Mining and Reunion Gold. Nevada experience includes resource definition at Archimedes and belt-scale exploration for Barrick. Ken Kryklywy, P. Eng.Manager, Ontario and Quebec Over 25 years working in Kirkland Lake and Timmins mining camps from grass roots exploration to mine production. Previous 4 years with Northgate Minerals during prefeasibility stage for the Young-Davidson project adjoining WKM. 17 years with Barrick including adding to reserves at the Holt McDermott mine. Other work with Newmont at Holloway mine and with Kerr Addison.
7. USA Operations Utah Nevada Inset Map Nevada
8. Significant Land Position in Proven Gold Belts Nevada- 1,200 km2 Newmont Earn-in (Fronteer Gold, 11 Properties) – 234 km2 December 16, 2010 WKM can earn up to 51% in all 11 properties by spending $15,400,000 over four years $2,000,000 in year one, $3,000,000 in year two (completed) After year two, WKM can allow projects to drop off and continue payment on project-specific basis WKM can increase interest to 60% with aggregate spend on any property (including TUG) of $4,000,000 or a Prefeasibility on specific projects TUG as of June 2012: $3,300,000 spent ($1,800,000 for 51%), additional $700,000 for WKM to earn 60%
9. Significant Land Position in Proven Gold Belts Rubicon Earn-in - 952 km2 June 27, 2011 WKM can earn up to 51% in portion of property across the valley north east of the Long Canyon Deposit by spending $15,000,000 in 4 years WKM has completed the first year’s expenditure, Phase 1 drilling completed WKM can increase earn up to 60% interest in “Class A” properties with additional $4,000,000 or a Prefeasibility
10. Nevada – Long Canyon KB 12 Mile 60% WKM 40% Newmont, Others Bandito 60% WKM 40% Rubicon TUG Lewis Spring Newmont Mineral Interests 20 Km 51% WKM 25% Newmont 24% Rubicon 10 Mi Toano Nevada Utah Newmont Exploration Drilling 60% WKM, 40% RMX 51% WKM, 25% NMC, 24% RMX Long Canyon Gold Trend Long Canyon Gold Deposit 60% WKM, 40% NMC, Others Newmont Mineral Interests 10
11. TUG Completed Results TUG –Completed Milestones Optioned TUG December 2010 from Fronteer Spring 2012 commenced historic database compilation 2012 completed confirmation and resource expansion drilling May 29, 2012 NI43-101 compliant resource estimate Identified a shallow oxidized Carlin style deposit with potential for excellent return on investment Completed first earn-in (51%) on TUG project from Newmont Acquired a third party interest in TUG property and brought it into the project
12. TUG Resource (Caracle Creek International Consulting, May 29, 2012) 1 Reported at a cut-off grade of 0.1 g/t Au. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 2AuEq was calculated assuming 100% metal recovery using a metal price ratio between Ag and Au (Ag:Au)= 0.018 (AuEq= Au+(Ag*0.018) Resource estimate completed by Jason Baker, P. Eng of Carcle Creek, an independent qualified person as defined by NI 43-101 Resources do not have demonstrated economic viability See detailed NI 43-101 report to be filed on SEDAR Approximately 44% of the resource ounces in 34% of the tonnes within 40 meters of surface
13. TUG Resource Grade Sensitivity These figures are not to be misconstrued as mineral resource as they are intended for the sole purpose of demonstrating the sensitivity of the resource estimate with respect to reporting cut-off grade. *Base case reported at a cut-off of 0.1 g/t Au
14. TUG Mineralization TUG Mineralization
15. Open pit, heap leach grade and strip comparison (g/t) (x:1) Source: Company records, rounded figures, includes inferred Au to Ag ratio of 1:55
16. TUG Advantages Projected low strip ratio Historic metallurgical: 60% for Au, 40% Ag with a 3/8” crush Highest recoveries from pulverized samples by bottle roll, 89.6% of gold, 66.4 % of silver Existing database of historic engineering work State administered permitting Easily accessible, excellent infrastructure Shallow open pit oxide gold resources are getting rarer to find!
17. TUG –The Next Steps In-pit NI 43-101 Mineral Resource Estimate by Q1 2013 Preliminary Economic Assessment by Q1 2013 Metallurgical sampling by Q2 2013 Construction permits by Q2 2013 Operating permits by Q2 2014
18. TUG Timeline of Activities
19. TUG Conceptual Surface Layout
20. Nevada Regional Targets: 12 Mile Near and Like TUGStart Point Located 10 km west of TUG Possible additional feed to TUG operation Action Drilled 7 holes in 2012 TUG equivalent grades encountered at shallow depths Only southern eastern corner of property explored to date Additional targets along strike TUG 12 Mile Long Canyon Gold Trend Nevada Utah Long Canyon Gold Deposit
21. 12 Mile Geology 12 Mile Geology TUG Deposit 12 Mile TUG Deposit 12 Mile TUG 0.73 g/t Au TUG 5 Kms 5 Kms Area Enlarged Northeast Structures Area Enlarged 12M12-002 12M12-003 12M12-006 1.02 g/t Au 12M12-007 1.73 g/t Au 12M12-004 12M12-004 6.1 meters @ 0.72 g/t Au, 2.19 g/t Ag From 12.19m 12M12-001 Mc 21
22. 12 Mile Drill Results
23. Gold Mineralization in Long Canyon Trend #247343 0.403 g/t Au 1.01 g/t Ag #247342 0.526 g/t Au 1.11 g/t Ag #247341 0.717 g/t Au 1.24 g/t Ag #247340 0.606 g/t Au 1.42 g/t Ag 12 Mile Drill Pad 3 Long Canyon Deposit
24. Nevada - Toano 60% WKM, 40% RMX 51% WKM, 25% NMC, 24% RMX 60% WKM, 40% NMC Newmont Mineral Interests Start Point Identified favourable structures, and stratigraphy WKM Work 3,460 soil samples Reconnaissance mapping Up to 3.6 g/t Au in rock Results Multiple Au in soil anomalies parallel to Long Canyon Trend with associated Ag, As, Sb up to 8 km long Drilling completed to date: 2 holes, 1,000 meters TUG Detailed Geological Mapping Toano Long Canyon Gold Trend Nevada Utah Long Canyon Gold Deposit
25. Nevada - Toano Toano Area Enlarged 2.2 g/t Au 1.4 g/t Au 3.6 g/t Au 1.5 g/t Au
26. Idealized Cross Section of Mineralized NE Trending Structural Zone in Toano
27. District Scale Targets N 12 Mile TUG Deposit KB Lewis Spring TUG Bandito Patterson Pass High Au in Stream Sediments Long Canyon Gold Trend Toano 16 Km to Long Canyon Deposit 60% WKM, 40% RMX 51% WKM, 25% NMC, 24% RMX 60% WKM, 40% NMC, Others 2 Miles Newmont Mineral Interests
28. Upcoming Milestones 2012 Complete in-pit Resource Estimate Initiate economic studies on TUG Initiate permitting process Metallurgical review 2013 Drilling in Long Canyon Trend Submit TUG Large Mine permit application
29. Kirkland Lake Operations Kirkland Lake – 80 km2Major gold bearing trend: Cadillac-Larder Lake Break Cunningham - 10 km2 Drilling to date has intersected high grade structures, identified target for follow up drilling 100% interest, east of AuRico’s3.8 M oz Au Young-Davidson project
30. Kirkland Lake Drilling Macassa Mine 3.5 M oz Au Kirkland Lake Gold Inc. Kirkland Lake Cunningham Property KC1008: 19.79 g/t Au over 7.9m KC1163: 16.15 g/t Au over 5.0m (85.7-90.7m) Cunningham Drill Results KM1125: 6.29 g/t Au over 1.5m (62.5-64.0m) KC1134: 6.12 g/t Au over 1.0m (9.5-10.5m) Young-Davidson Mine 3.8 M oz Au Aurico Gold 30
31. WKM – Summary WKM controls a near surface significant gold resource in a mining friendly jurisdiction Significant historical work to build off Short permitting timelines in Utah Potential synergies with additional discoveries in Long Canyon Trend In Canada, West Kirkland controls a significant land position along the Cadillac Lake Larder Lake Break Built in valuation: WKM fast-tracking the TUG deposit and continues to explore its enormous land packages in USA and Canada
32. For More Information R. Michael Jones Michael G. Allen President & CEO VP, Exploration Office: 604 685-8311 Office: 604 628-4709 rmjones@wkmining.com mallen@wkmining.com Knox Henderson Investor Relations Office: 604 628-4717 khenderson@wkmining.com Updated: 11/07/12