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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Eskay Mining Corp.    ESK   CA2964371066

ESKAY MINING CORP.

(ESK)
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Eskay Mining : Corporate Presentation - January 2021

01/13/2021 | 02:38pm EST

1

FOCUSING THE SEARCH

Corporate Presentation

January 2021

TSX.V: ESK - USA.OTC: ESKYF - Frankfurt: KN7

Eskay Mining Corp - Corporate Presentation

Disclaimer2

The data contained herein is provided for information purposes only. Certain information has been compiled from sources believed to be reliable. No information in this presentation is to be construed as an offer to buy or sell securities.

Some statements contained in this presentation are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward- looking statements include among other things, comments regarding mining and milling operations, mineral resource statements and exploration program performance. They may also include statements with respect to Eskay Mining's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Factors that could cause actual results to differ materially include, but are not limited to, metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production, the ability to raise sufficient capital to fund exploration, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise. The reader agrees to hold the Company and its subsidiaries, and their respective officers, employees and agents harmless against any claims for damages or cost or any loss of any kind arising out of the access to or use of this presentation or any information contained in or obtained through this presentation.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: These tables use the terms "Measured", "Indicated" and "Inferred" Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and 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 feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

Charles J. Greig, M.Sc., P.Geo. is a qualified person as defined by NI43-101 and has reviewed the contents of this presentation.

Eskay Mining Corp - Corporate Presentation

Capital Structure

3

Capital Structure

Company Tickers

TSXV:ESK/OTC:ESKYF/Frankfurt:KN7:GR

Closing Price (January 11 ,2020)

$2.30

52 Week Trading Range

$0.12-$2.80

Shares Out (Basic)

156,460,935

Shares Out (FD)

185,460,882

Market Capitalization (Basic)

$359.9M

Market Capitalization (FD)

$426.6M

Cash

~$15.5M

11.62M @ weighted avg exercise price of $0.177 and weighted avg

Options

expiration date of Oct 8, 2023

17.38M @ weighted avg exercise price of $0.768 and weighted avg

Warrants

expiration date of Sep 1, 2022

Eskay Mining Corp - Corporate Presentation

The Eskay Mining Team

4

Hugh M. (Mac) Balkam

Mr. Balkam was with the Royal Canadian Mounted Police for 13 years, many of those involved in the investigation of stock market related fraud. In 1981, he resigned to

become a financial consultant with a major brokerage firm, where he managed investments for retail clients. Since 2004, Mr. Balkam has been involved in raising

President/CEO, Director

venture capital and consulting for junior mining companies. Mr. Balkam joined the Board of Directors and became CEO of Eskay Mining Corp during the fourth quarter of

2009. He holds a BA from the University of Toronto.

Mr. Marrelli serves as the Corporation's Chief Financial Officer. Mr. Marrelli is qualified as a Chartered Accountant and as a Certified General Accountant in Canada. In

Carmelo Marrelli

addition to acting as the Corporation's Chief Financial Officer, Mr. Marrelli has been a principal of Marrelli Support Services Inc., a firm providing administration services

to Canadian public companies, since February, 2009 and, prior to February, 2009, a partner with Marrelli & Drake Corporate Services (formerly Duguay & Ringler

Chief Financial Officer

Corporate Services) (a firm providing administration services to Canadian public companies). Mr. Marrelli also serves as the Chief Financial Officer of several publicly-

listed junior mining companies.

Robert Myhill

Mr. Myhill is a director of six privately held companies operating in transportation and venture capital in B.C., Alberta and Ontario. From 1991 until 2006, Mr. Myhill was

the President of Canadian Investors Corporation, an investment company focused on financing corporate re-organizations. Mr. Myhill actively participated in directorship

Director, VP Finance

and management of the investee companies. From 1985 to 1991, he invested in and raised capital for small companies in Ontario. From 1976 to 1984, he was President

of national companies within Southam Inc. and Jim Pattison Industries.

J. Gordon McMehen

In 2000, Mr. McMehen co-founded Conundrum Capital Corporation. From 1998 to 2000, Mr. McMehen served as Executive VP, Chief Operating Officer and director of

Central Park Lodges Ltd., helping to manage one of North America's pre-eminent providers of seniors housing, long-term care and ancillary health care services. At the

Director

law firm of Gardiner Roberts, Mr. McMehen practiced corporate and commercial law from 1978 to 1998, specializing in mergers and acquisitions, corporate structure

and finance. He acted as Managing Partner of the firm from 1994 to 1998.

Dr. Quinton Hennigh is an internationally-renown economic geologist, with over 25 years of exploration experience and expertise with major gold mining companies

Dr. Quinton Hennigh

such as Homestake Mining Company, Newcrest Mining Limited, and Newmont Mining Corporation where he last served as senior research geologist in 2007. He has

since made a number of significant gold discoveries for Canadian exploration companies such as the 5 million oz. Springpole alkaline gold deposit near Red Lake,

Director/Technical Advisor

Ontario, for Gold Canyon Resources, and the Rattlesnake Hills gold project for Evolving Gold. He is currently Chairman and President of Novo Resources Corporation,

which he helped start in 2010.

Tom Weis

Mr. Weis is a minerals exploration geophysicist with over 35 years of exploration experience working for both major and junior mining companies worldwide. These have

included Exxon Minerals, Newmont and Normandy Poseidon. He has a broad background in precious, base metals and industrial mineral exploration including VMS,

Director/Geophysicist

porphyry Cu, epithermal and Carlin style Au systems. He holds a B.Sc. In Geology and a M.Sc is Geophysics at Michigan Technological University.

Dr. John DeDecker

John DeDecker received his B.S. in Geology, with an emphasis on mineralogy, igneous petrology, and mathematics from North Carolina State University. He completed

his M.S. in Geology at University of North Carolina at Chapel Hill studying physical volcanology and igneous petrology, then went on to complete a Ph.D. in Geology and

VP Exploration

Geochemistry at Colorado School of Mines under the advisement of world VMS expert, Dr. Thomas Monecke. He is a Post Doctoral Fellow at the School where he

researches the Au- rich V.M.S. deposits near the Eskay Creek Mine. John is founding partner of B.O.A. Exporation LLC.

Eskay Mining Corp - Corporate Presentation

Investment Opportunity

5

Large land package in a

Surrounded by "world-

top-tier jurisdiction

class" deposits

Multiple attractive exploration targets

  • Eskay controls approximtely 52,600 hectares of highly prospective property in the Golden Triangle
  • Very compelling structural setting which is host to many gold deposits in the area
  • Barrick's past producing Eskay Creek Mine
  • Seabridge's KSM Project
  • Pretium's Brucejack Mine
  • Tudor Gold's Treaty Creek Project
  • Multiple under-explored precious metal-rich VMS prospects
  • High-gradelode gold targets
  • Copper-goldporphyry potential

Eskay Mining Corp - Corporate Presentation

Located in mining friendly British Columbia in the heart of the Golden triangle

  • Surrounded by multiple world class deposits and prolific mineral systems
  • Established, reliable procedures for obtaining permits

Eskay Mining - Jurisdiction

6

Excellent access to power &

infrastructure

  • Paved Highway 37 north from Smithers
  • New 287 kV power line
  • 2 nearby ports at Stewart B.C
  • 2 nearby regional airports and a local airstrip
  • Access to regional workforce and supplies

Eskay Mining Corp - Corporate Presentation

52,000 Ha land package in

the Golden Triangle of

British Columbia

Eskay Mining has 80/20 JV with Kirkland Lake Gold on the northern portion of the property (marked in yellow and blue)

Eskay Mining controls 100%

of the Corey Property

(marked in red)

Property Overview

7

Project is located along

prolific N-S regional trend of

VMS deposit

Recent reinterpretation of

historic drilling at SIB

indicates strong potential for discovery of extensions of the Eskay Creek VMS system

Recent work at Corey has revealed multiple Eskay Creek style VMS targets

Eskay Mining Corp - Corporate Presentation

Eskay Creek Precious Metal Rich VMS

8

Primary target type of Eskay Mining is precious metal rich VMS deposits located along geologic trend of the prolific Eskay Creek Mine.

Eskay Creek mine:

  • Historic production of: o 3.3M oz Au and
    o 161M oz Ag
  • Average grade of:
  1. 45.57g/t Au and o 2,231 g/t Ag

The highest Au and Ag grades of

ALL VMS deposits on Earth

Eskay Mining Corp - Corporate Presentation

Eskay Creek Precious Metal Rich VMS

9

Historic mining focused on contact mudstone mineralization

Recent drilling indicates significant replacement-style Au mineralization of multiple mudstone layers

These mineralized horizons continue onto Eskay Mining property

Modified from Skeena Resources

Eskay Mining Corp - Corporate Presentation

Eskay Creek Precious Metal Rich VMS

10

Eskay Mining Corp - Corporate Presentation

A Precious Metal Rich VMS Camp

11

Eskay Mining controls approximtely 85% of the local terrane considered prospective for Eskay Creek type precious metal rich VMS deposits

The SIB/Lulu prospect is located in the northern half of Eskay Mining's tenements along geologic strike from the Eskay Creek deposit. Historic drilling encountered precious metal rich VMS footwall stringer style mineralization. High-grade stratiform potential has yet to be tested.

Recent reinterpretation of 25 year old diamond drill data from TV/Jeff indicates both these propsects belong to a much larger scale VMS system in that area. Historic intercepts include assays over 1 opt Au.

Prospects in the southern region appear to include both VMS and porphyry Cu-Au systems. The TET prospect appears to host footwall stringer mineralization yielding several historic assays of over 1% Ag.

A precious metal

rich VMS camp

Eskay Mining Corp - Corporate Presentation

SIB/Lulu Prospect - Historic Drilling

12

Past drill programs indicated that the Lulu Zone likely holds a VMS-style deposit

Highly encouraging historic drill results:

  • 14.4 g/t Au and 1,060 g/t Ag over 14.3m
  • 10.8 g/t Au and 766 g/t Ag over 24.8m
  • 2.13 g/t Au and 4.0 g/t Ag over 25.2m

Hole EK18-160 returned the highest gold assays on the property outside of the Lulu Zone, grading 61.9 g/t over 1.0 m.

EK18 -160

SIB Prospect

Lulu Zone

Eskay Mining Corp - Corporate Presentation

SIB/Lulu Prospect - Geology

13

Recent drilling by Skeena Resources

Eskay Creek Mine and Eskay Mining's SIB prospect located along western limb of Eskay anticline

Gold is hosted in stratiform mudstone and felsic breccia horizons equivalent to those at Eskay Creek

Favorable geology continues along strike from Eskay Creek to SIB

  • EK18-160at SIB intercepted 61.9 g/t Au
  • 90_30 at Lulu intercepted 95 g/t Au and 3900 g/t Ag

Previous drilling at SIB encountered unrecognized stratiform Au-Ag mineralization

Eskay Mining Corp - Corporate Presentation

SIB/Lulu Prospect - Reinerpretation

14

Recent review of historic data indicates presence of a wedge fault at Lulu

Strata under the wedge block has yet to be tested

There is good evidence of prospective lower mudstone below wedge fault

Eskay Mining Corp - Corporate Presentation

SIB/Lulu Prospect - New Targeting Strategy

15

Stratiform Au mineralization

Previous drilling was terminated above the wedge block, therefore the VMS potential has not fully been tested.

New strategy considers the alteration associated with and morphology of VMS systems to re-focus targeting

Three-dimensional modeling of geology has led to better understanding of local structural geology, eg., the wedge fault

Eskay Mining Corp - Corporate Presentation

TV/Jeff Emerged as a Priority 2020 Drill Target 16

TV and Jeff

Part of the ESK/KL JV

Historic diamond drill core from TV/Jeff was mischaracterized. Recent re-examination confirms that these prospects are both unequivocally VMS systems.

Both occur at the important rhyolite/mudstone stratigraphic contact. At least two significant mineralized sulfide intervals have been identified.

2020 Skytem and IP work has identified multiple shallow conductive bodies, possibly massive sulfides, in close proximity to areas of historic drilling.

Eskay Mining Corp - Corporate Presentation

2020 SkyTEM

17

TV and Jeff stand out

Evidence of both limbs of

Eskay anticline

TV and Jeff fall within a 4 km corridor

Other VMS centers are evident as "carrot" like features

These anomalies indicate potential for mineralization along strike and up stratigraphy

SkyTEM will be extended southward in 2021

Eskay Mining Corp - Corporate Presentation

Q3 Drilling Encountered Stacked VMS Mineralization

18

Eskay Mining Corp - Corporate Presentation

Q3 Drilling Encountered VMS Mineralization 19

TV and Jeff

Sulphide mineralization in all holes at TV is hosted by a sequence of mudstones and felsic breccia. A similar sequence of host rocks reported by Skeena Resources in recent deep holes.

This discovery confirms the presence of new Eskay Creek like massive sulphide deposits within the highly prospective Eskay graben, or geologic trough, that extends southward from the Eskay Creek deposit. Approximately 85% of this belt occurs within Eskay Mining's tenure.

J20-3438.41-38.63 m

69.4 g/t Au, 392 g/t Ag

Hole

From (m)

To (m)

Length (m)

Gold (gpt)

Silver (gpt)

Gold eq (gpt)

TV20-35

9.00

24.00

15.00

1.80

30.7

2.2

includes

9.00

18.00

9.00

2.33

33.9

2.8

188.85

205.18

16.33

1.12

149.8

3.2

includes

193.94

205.18

11.24

1.23

210.0

4.1

199.70

205.18

5.48

0.70

324.5

5.2

TV20-36

7.67

40.50

32.83

1.92

27.2

2.3

includes

20.90

31.00

10.10

4.17

40.2

4.7

includes

29.50

31.00

1.50

16.83

35.1

17.3

TV20-37

8.59

26.05

17.46

2.58

48.7

3.3

includes

14.48

24.00

9.52

3.86

63.4

4.7

includes

16.80

21.00

4.20

6.91

70.3

7.9

179.05

234.00

54.95

0.60

28.6

1.0

includes

198.82

201.00

2.18

0.62

193.1

3.3

TV20-38

7.51

28.04

20.53

2.01

30.5

2.4

includes

15.00

25.50

10.50

2.99

34.9

3.5

237.00

260.19

23.19

1.03

12.3

1.2

includes

244.50

255.00

10.50

1.39

15.3

1.6

TV20-39

3.00

43.74

40.74

1.39

28.4

1.8

includes

22.00

32.50

10.50

2.32

40.8

2.9

60.17

118.16

57.99

0.74

16.4

1.0

includes

98.50

117.72

19.22

1.22

8.9

1.3

J20-34

37.92

43.00

5.08

31.23

138.1

33.1

includes

38.41

40.00

1.59

78.83

326.0

83.4

50.00

52.67

2.67

2.49

8.5

2.6

56.30

63.61

7.31

1.46

16.7

1.7

includes

56.30

58.60

2.30

2.67

12.8

2.8

74.62

77.12

2.50

1.63

1.7

1.7

102.95

105.00

2.05

3.05

0.5

3.1

J20-37

5.82

13.48

7.66

2.53

151.4

4.6

24.50

42.50

18.00

0.67

38.2

1.2

includes

29.12

39.50

10.38

0.97

48.7

1.6

Eskay Mining Corp - Corporate Presentation

Q3 Drilling Encountered VMS Mineralization 20

TV and Jeff

In Q3 2020, Eskay completed a first phase drilling campaign at TV and Jeff prospects

A total of 4,355.55 m were drilled in 20 holes at the VMS target

Nearly all drill holes encountered VMS mineralization including bedded massive sulphide, stockwork feeder and/or sub- seafloor sulphide mineralization.

Importantly, some holes encountered silver-bearing sulphide minerals such as pyrargyrite and a natural gold-silver alloy called electrum, a promising indication of potential for appreciable precious metals in some mineralized intercepts.

Pyrargyrite (red) and unknown silver mineral (gray)

Electrum

Close-up of pyrargyrite, red, and electrum, light yellow, encountered in a mineralized

intercept at Jeff. An unknown silver mineral, gray, is also present.

Eskay Mining Corp - Corporate Presentation

Eskay Mining - 100% Owned Corey Prospects 21

100%-owned by

Eskay Mining

West and east limb Au- enriched VMS deposits

Cumberland is on western limb at basalt-rhyolite contact

Tet-C10 and GFJ are hosted by the Betty Creek Fm and are along trend from TV and Jeff

Spearhead is at the Bruce

Glacier felsic unit-Spatsizi

Fm ELM zone contact

All show significant stratiform Au mineralization

Eskay Mining Corp - Corporate Presentation

TET - A High-Grade Silver System

22

C10 and TET

At the same stratigraphic level as TV and Jeff

CR05-17145.5-147.0 m at

C10 intercepted 100 g/t Au

Surface samples from Tet show high-grade (~1%) Ag-sulfosalt mineralization

A more metamorphosed version of TV and Jeff.

IP anomalies are similar to those at TV and Jeff and indicate several stratiform chargeability targets

These targets will be drilled in 2021

Eskay Mining Corp - Corporate Presentation

Other Prospects Confirmed as VMS

23

Spearhead

Like TV/Jeff, historic work in other areas at Corey mischaracterized mineralization as non-VMS. In fact, it is clearly VMS in nature.

Hosted by mudstone at base of upper Hazelton Group felsic and rhyolitic rocks (i.e. Lower Mudstone-type mineralization)

Given the broad extent of VMS mineralization across 20 km strike southward from Eskay Creek on both the east and west limb of the Eskay anticline

Eskay Mining has the view that there is strong potential for a significant discovery of precious metal rich VMS deposits throughout the land holding.

Eskay Mining Corp - Corporate Presentation

24

For more information contact:

Leo Karabelas, Investor Relations Leo@fcir.ca

+1 416 - 543 - 3120

Eskay Mining Corp - Corporate Presentation

Disclaimer

Eskay Mining Corporation published this content on 13 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 January 2021 19:37:07 UTC


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Financials
Sales 2020 - - -
Net income 2020 -1,30 M -1,02 M -1,02 M
Net cash 2020 0,18 M 0,14 M 0,14 M
P/E ratio 2020 -15,8x
Yield 2020 -
Capitalization 344 M 270 M 270 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 80,7%
Chart ESKAY MINING CORP.
Duration : Period :
Eskay Mining Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
NameTitle
Hugh McLellan Balkam President, Chief Executive Officer & Director
Carmelo K. Marrelli Chief Financial Officer
John Gordon McMehen Independent Director
Robert Myhill Director & Vice President-Finance
William Roy Johnstone Secretary
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