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Cora Gold | Investor Presentation | Q1 2018
Corporate PresentationQ2 2018
Cora Gold | Investor Presentation | Q2 2018
Disclaimer
The information being released by the Cora Gold Limited (the "Company") today & attached to the RNS (the “Materials”) are being released to provideadditional information with respect to the business of the Company. The Materials are not intended to form, & shall not be treated as, the basis of anyinvestment decision or any decision to purchase an interest in the Company. The Materials do not constitute a recommendation regarding the shares of theCompany nor should the Materials be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents,employees or advisers. The Materials do not constitute an offer to sell or an invitation for offers to purchase or acquire any securities or any of the businessor assets described herein. The Company has provided the information in the Materials, which do not purport to be comprehensive & have not been fullyverified by the Company, or any of their respective shareholders, directors, advisers, agents or affiliates. No representation or warranty, express or implied,is or will be made & no responsibility or liability is or will be accepted by the Company or by any of their respective officers, servants or agents or any otherperson as to or in relation to the accuracy or completeness of the Materials or the information or opinions contained herein or supplied herewith or anyother written or oral information made available to any interested party or its advisers & no responsibility or liability is accepted for the accuracy orsufficiency of any of the information or opinions, for any errors, omissions or mis-statements, negligent or otherwise, or for any other communication,written or otherwise, made to anyone in, or supplied with, the Materials. In particular, no representation or warranty is given as to the achievement orreasonableness of any future projections, management estimates, prospects or returns. Certain statements within the Materials constitute forward lookingstatements. Such forward looking statements involve risks & other factors which may cause the actual results, achievements or performance expressed orimplied by such forward looking statements. Accordingly, neither the Company nor any of its respective shareholders, directors, advisers, agents or affiliatesshall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement or omission in, orsupplied with, the Materials or in any future communications in connection with your interest in the Company. The information set out in the Materials willnot form the basis of any contract. The recipient agrees to keep confidential any written or oral information contained herein or otherwise made availablein connection with the Company. The Materials must not be copied, reproduced, distributed or passed to others at any time. The Materials have beendelivered to you for information only & upon the express understanding that such parties will use it only for the purpose set out above. The Companyundertakes no obligation to provide the recipient with access to any additional information or to correct any inaccuracies herein which may becomeapparent.
Neither the Materials nor any copy of it may be (a) taken or transmitted into Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africaor the United States of America (each a “Restricted Territory”), their territories or possessions; (b) distributed to any U.S. person (as defined in Regulation Sunder the United States Securities Act of 1933 (as amended)) or (c) distributed to any individual outside a Restricted Territory who is a resident thereof inany such case for the purpose of offer for sale or solicitation or invitation to buy or subscribe any securities or in the context where its distribution may beconstrued as such offer, solicitation or invitation, in any such case except in compliance with any applicable exemption. The distribution of the Materials inor to persons subject to other jurisdictions may be restricted by law & persons into whose possession this document comes should inform themselves about,& observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.
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Cora Gold | Investor Presentation | Q2 2018
DISCOVERING THE NEXT
MAJOR WEST AFRICAN
GOLD MINE
Cora Gold | Investor Presentation | Q2 2018Cora Gold | Investor Presentation | Q2 2018
3 Key Elements3
Large gold discovery: Sanankoro• 14km strike length
• High grade assays up to 35.7g/t Au
• Potential standalone mine
• +1Moz potential
Multiple permits surrounding
existing mines in Mali & Senegal• Drill-ready prospects
• Potential to fast-track cash flow
Proven team• +25 years in Africa
• >8Moz of gold discoveries
1.
2.
3.
Cora Gold | Investor Presentation | Q2 2018
Overview4
Who is Cora Gold?
AIM listed gold exploration company
with a world-class team focussed on
productive gold belts in West Africa
Project portfolio totalling 1,500km2 in
Mali and Senegal in close proximity to
operating mines
Sanankoro Gold Discovery: Mali • Large mineralised structures >15km
• Intersections up to 35.7 g/t Au
• +1Moz potential
Tekeledougou project: Mali • Two new gold discoveries with large
footprints
• Intersection up to 102 g/t Au
• 8km from operating Yanfolila gold
mine
Multiple drill-ready targets, follow up
drilling provides significant
exploration/value upside
Strong news flow from on-going drilling
programmes
Backed by City Financial (7.04%) and Lord
Farmer (10.76%) and Hummingbird
Resources (AIM:HUM) (33.85%)
Cora Gold | Investor Presentation | Q2 2018
A Team to Deliver5
Jon Forster Chief Executive Officer+35 years exploring in Africa
Geoff McNamara Chairman
+12 years Mining Finance
Bert MonroNon-Executive Director+8 years operating in Africa
Paul Quirk Non-Executive Director+10 years operating in Africa
Significant African experience:
+25 years in Africa
>8Moz of gold discoveries
Craig BanfieldChief Financial Officer and
Company Secretary+20 years operating in Africa
Board Members
David Pelham Non-Executive Director+35 years exploring in Africa
Management
Cora Gold | Investor Presentation | Q2 2018Cora Gold | Investor Presentation | Q2 2018
Key Data6
Cora Share Price Graph
Significant Shareholders
Hummingbird Resources plc 33.85% *
Directors / Management 19.24%
Lord Farmer 10.76%
City Financial 7.04%
Brookstone Business Inc. 5.14% **
* Including subsidiary company
** The sole shareholder of which is First Island Trust Company Limited of Mauritius, as trustee for discretionary trust with a broad class of potential beneficiaries
Market AIM
Ticker CORA.L
Market capitalisation ~£7.97 million
Shares in issue 54,975,394
Nominated Adviser Allenby Capital
Broker Mirabaud Securities9 Oct 2017 – IPO on AIM raising £3.45 million
11 Oct 2017 – Director Dealings – Geoff McNamara (1.14%)
12 Oct 2017 - Director Dealings – Geoff McNamara (1.50%)
17 Oct 2017 – Drill contractor appointed: Sanankoro
4 Dec 2017 - Drilling commenced: Sanankoro
5 Dec 2017 – Director Dealings – Paul Quirk (13.33%)
11 Jan 2018 – Stage 1 drilling Sanankoro completed
29 Jan 2018 – Impressive initial results from Sanankoro Stage 1
14 Mar 2018 –Reconnaissance drilling commences Tekeledougou
22 Mar 2018 – Stage 2 drilling Sanankoro completed
29 Mar 2018 – Madina Fulbe permit renewed
9 Apr 2018 – Tekeledougou Reconnaissance drilling completed
24 Apr 2018 – Impressive Stage 2 assay results received
01 May 2018 – Exciting high-grade drill results at Tekeledougou
Significant newsflow since IPO in Q4 2017:
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10
12
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Cora Gold | Investor Presentation | Q2 2018
Established in Prominent Mali Gold Belts 7
Prospective targets awaiting follow-up
Kenieba Window, West Mali Yanfolila Belt, South Mali
Cora Gold | Investor Presentation | Q2 2018
Sanankoro Project: Mali8
Extensive multiple gold zones give large scale potential:
targeting a +1 million ounce standalone mine
• Historic, broad spaced shallow
drilling being followed up by
deeper, systematic infill
drilling
• Historic drilling only tested
1.6km of >15km of prospective
mineralized structures
• On-going 15,000m drill
programme to expand
mineralised footprint
• Extensive zones of artisanal
mining
A Highly Prospective Discovery
Yanfolila Belt, South Mali Sanankoro Gold Discovery
Cora Gold | Investor Presentation | Q2 2018Cora Gold | Investor Presentation | Q2 2018
Sanankoro Stage 1Target 1
• 27 drill holes completed at Target 1
• Open North, South and at depth
• Potential to increase strike >3km
• Initial RC/AC assays include:
• 17 metres @ 5.43g/t from 67 metres
downhole
• 11 metres @ 5.24g/t from 4 metres
downhole
• 20 metres @ 2.15g/t from 77 metres
downhole
• 15 metres @ 1.41g/t from surface
• 10 metres @ 1.37g/t from 39 metres
downhole
9Initial drill programme
confirmed a new gold discovery
with potentially economic
widths and grades over an area
of at least 1.2km length
14km
Cora Gold | Investor Presentation | Q2 2018
Sanankoro Stage 2Large Mineralised Structures Confirmed
Drilling confirmed continuous
mineralised structures over 3.6km
to a depth of 100m
• Assay highlights:
• 35.7 g/t Au over 1 m
• 1.89 g/t Au over 13m
• 1.19 g/t Au over 19m
• 1.26 g/t Au over 14m
• 4.88 g/t Au over 2m
10
Drilling confirmed continuous
mineralised structures over 900m
to a depth of 80m
• Assay highlights:
• 4.92 g/t Au over 6m
• 1.56 g/t au over 6m
• 1.48 g/t Au over 6m
• 1.01 g/t au over 13m
Sanankoro StructureZone A-B
Bokoro StructureZone C
Cora Gold | Investor Presentation | Q2 2018
Sanankoro Gallery11
N-S
aligned q
uart
z s
tockw
ork
zones
Recentl
y identi
fied E
-W c
ross
cutt
ing
min
era
lise
d s
tructu
res
Coars
e v
isib
le g
old
panned f
rom
mult
iple
hole
s
Dri
ll r
ig a
t Sanankoro
Q1 2
018
Cora Gold | Investor Presentation | Q2 2018Cora Gold | Investor Presentation | Q2 2018
Sanankoro: Artisanal mining
12
Above: SRK (CPR) site visit March 2017 - Sanankoro artisanal workings
Extensive artisanal workings confirm
continuity of mineralisation
Above: Sanankoro artisanal workings as at January 2017
Cora Gold | Investor Presentation | Q2 2018
Yanfolila Gold Belt, South Mali13
Permits in the Yanfolila Gold Belt showing drill targets
Multiple drill targets to follow up & discoveries to be made …
Cora Gold | Investor Presentation | Q2 2018Cora Gold | Investor Presentation | Q2 2018
Yanfolila Gold Belt Projects, South Mali
• Historical reconnaissance drilling
completed at Tagan, Siranikele,
Farassaba III
• Intercepts include:
• Tagan: 30m @ 1.6 g/t Au
• Siranikele: 18m @ 4.3 g/t Au
• Farassaba III: 4m @ 2.6 g/t Au
• Two new large scale gold zones
discovered (Kouroudian and Woyoni) at
Tekeledougou
14
Tagan; Siranikele; Farassaba III;
Tekeledougou; Winza
Cora Gold | Investor Presentation | Q2 2018Cora Gold | Investor Presentation | Q2 2018
Tekeledougou Discovery
• 17 holes completed in 2,000m of RC
drilling
• Two new large-scale gold zones
discovered (Kouroudian and Woyoni)
• Both prospects within trucking distance
(~8km) of operating Yanfolila Gold Mine
• Infill, extensional diamond and RC drilling
planned for Q2 2018
15
Extensive Artisanal Workings at Tekeledougou
“Significant potential to extend these
wide structures well beyond the already
identified footprint which, if consistently
mineralised, could lead to a large gold
deposit.”
Woyoni Discovery Kouroudian Discovery
56m @ 2.2g/t including 22m @
4.86 g/t Au
17m @ 6.8 g/t Au including 1m
@102 g/t Au
60m @ 0.7 g/t Au including 9m @
1.30 g/t Au
15m @ 1.17 g/t
Drilling confirms minimum strike
length of 250m
Drilling confirms minimum strike
length of 500m and clear
potential to extend over 1km
Open in all directions Open in all directions
Cora Gold | Investor Presentation | Q2 2018
Kenieba Window, West Mali16
Over past two decades
more than 50Moz Au discovered
across 12 gold project areas
Diangounte & Madina Fulbe Projects
AngloGold Ashanti-IAMGOLD’s Sadiola Mine, Mali
Source: Photo: http://www.miningeducation.com/2015/09/anglogold-ashanti-operations-and.html
Cora Gold | Investor Presentation | Q2 2018
Highly Active Work Programme Timeline17
Q3 Q4 Q1 Q2 Q3 Q4
2017>>>>>>>>>>>>>> 2018 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Sanankoro surface
mapping/sampling
Sanankoro exploration
drilling commenced
Yanfolila project
area surface
mapping /sampling
Sanankoro ground
geophysics
Yanfolila project
area exploration
drilling commenced
(Tekeledougou)
Sanankoro and
Tekeledougou
assay results
Sanankoro project
evaluation and planning*
Yanfolila project
area evaluation
and planning*
Western Mali
project area
surface mapping
/ sampling*
Western Mali
project area
exploration
drilling*
* Projected Company targets
Cora Gold | Investor Presentation | Q2 2018
Peer Comparisons 18
Source: Google FinanceExchange rate: GBP/USD: 1.35; CAD/USD: 0.78; AUD/USD: 0.75 Correct as of 10.05.18
$8
5
Anvel Gold was bought by Endeavour in 2017 for US$122M
0
10
20
30
40
50
60
70
80
PredictiveDiscovery
Ashanti Gold Cora Gold Volcanic GoldMines
AlgoldResources
ApolloConsolidated
Amani Gold OkloResources
Orezone CardinalResources
West AfricanResources
HummingbirdResources
Mark
et
Capit
alisa
tion U
S$ m
illions
Early-stage
Exploration
Pre-Resource
Drilling Defined
ResourcesDevelopment
$95
$156
$153
$161
Production
$98
Cora Gold | Investor Presentation | Q2 2018
Investment Case
• Three project areas
• Over 1,500 km² in Mali/Senegal
• Multiple gold targets with drill intercepts
• Providing exposure to “safe haven” gold in an unstable worldwide political situation
19Objective - To create value by turning: Sanankoro discovery into a mine; &
targets into discoveries
Managed by
a proven
team
High-quality
gold
portfolio
Sanankoro
gold discovery
Exploring in
the shadow of
gold mines
Fast Progress
since IPO
• Significant progress has been made since IPO in October 2017
• Stages 1 and 2 drilling at Sanankoro complete within 6 months of IPO
• Exploration programmes on-going at Sanankoro and Tekeledougou
• Board & management have a proven track record in making
discoveries and developing mines in Africa
• Systematic drilling shows continuity of gold mineralization & impressive grades
• Reconnaissance drilling shows exceptional upside
• Potential to develop into a large standalone mine
• Within possible haul distance at two of the project areas
• Drill ready targets
• Possible route for early cash flow
Cora Gold | Investor Presentation | Q2 2018
Jon Forster, [email protected]
Craig Banfield, [email protected]
coragold.com @cora_gold