A Golden Opportunity In Northern Ireland

Transcription

1 A Golden Opportunity In Northern Ireland Curraghinalt Deposit Investor Presentation August 2011 Patrick F. N. Anderson Chairman and Chief Executive Officer

2 Forward-Looking Information and Qualified Person Certain statements in this presentation, other than statements of historical facts relating to the company, constitute forward looking information within the meaning of applicable securities laws. Such forward-looking information may include, but is not limited to, statements with respect to the future financial or operating performance of the company, its subsidiary and its mineral project, the future price of metals, the estimation of mineral resources, the realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Often, but not always, forward looking statements can be identified by the use of words such as plans, expects, is expected, budget, scheduled, estimates, forecasts, intends, anticipates, or believes or variations (including negative variations) of such words and phrases, or state that certain actions, events or results may, could, would, might or will be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions such as continued political stability in Northern Ireland, that permits required for the company s operations will be obtained in a timely basis in order to permit the company to proceed on schedule with its planned drilling programs, that skilled personnel and contractors will be available as the company s operations continue to grow, that the price of gold will remain at levels that render the project economic, and that the company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates and current mine plans. Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company and/or its subsidiary to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals, including gold; possible variations of ore grade or recovery rates; failure to convert estimated mineral resources into mineral reserves; failure of plant, equipment or processes to operate as anticipated; actual results of reclamation activities; accidents, labour disputes; political instability and risks arising from operating in Northern Ireland; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; uncertainties relating to the availability of future financing; inflation; fluctuations in exchange rates; uninsured risks and other risks of the mining industry. Although the company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward looking statements contained herein are made as of the date hereof and the company disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The technical data in this presentation was taken from the technical report entitled A Mineral Resource Estimate for the Curraghinalt Gold Deposit and a Review of a Proposed Exploration Program for the Tyrone Project, County Tyrone and County Londonderry, Northern Ireland dated May 10, 2010, prepared by B. Terrence Hennessey, P.Geo., and Dibya Kanti Mukhopadhyay, M.Sc., MAusIMM, of Micon International Limited (the Technical Report ). Eur Geol Garth Earls, Managing Director, Dalradian Gold Limited, is the Qualified Person who supervised the preparation of the technical data in this presentation. 2

3 Why Invest? High-grade 1.5MM ounce gold resource (all categories) Inferred: 1.16 million Indicated: 400,000 6 drills turning Focus on resource expansion and confirmation Resource update planned for late ,000 ha property Target generation started in Q1 Exploration drilling to commence mid-year Low political risk Northern Ireland open for business and resource friendly Experienced management and board Track record of discovery and development Well funded Approximately 27 million in cash Management owns > 8% 3

4 Capital Structure TSX: DNA and DNA.WT Shares outstanding 69.8 million Fully diluted 90 million Market cap - $100 million Average volume (3m) 238,729 Analyst coverage GMP: Andrew Mikitchook Clarus: Laurie Curtis As at June 17,

5 The Board: A Track Record of Discovery and Development Colin K. Benner Chairman of Capstone Mining Corp., Creston Moly Corp., and Corsa Capital Ltd. Joseph F. Conway CEO of Primero Mining Corp. Former CEO of IAMGOLD Corporation Ronald P. Gagel Former SVP and CFO of FNX Mining Company Inc. Also Director of Adriana Resources Inc. and Stonegate Agricom Ltd. Thomas J. Obradovich Former CEO of Young-Davidson Mines Ltd. Former Director of Aurelian Resources Inc. Chairman of Lago Dourado Minerals Ltd. Sean E. O. Roosen CEO of Osisko Mining Corporation Also Director of Rio Novo Gold Inc. and Bowmore Exploration Ltd. Ari B. Sussman Chairman and CEO of Colossus Minerals Inc. CEO of Continental Gold Limited Patrick F. N. Anderson Chairman and Chief Executive Officer Former CEO of Aurelian Resources Inc. Also Director of Colossus Minerals Inc., Malbex Resources Inc. and Continental Gold Limited Keith D. McKay Chief Financial Officer Former CFO of Aurelian Resources Inc. And Director of Noront Resources Ltd. John McCombe Chief Operating Officer Director of Revett Minerals Former SVP, Operating Strategy of IAMGOLD Carson Noel Executive Vice President Former General Manager, Aurelian Ecuador, S.A. Garth Earls Managing Director, Dalradian Gold Limited Former Director, Geological Survey of Northern Ireland 5

6 Exploring Northern Ireland Devolved government within the United Kingdom Currency: pound sterling Population: approximately 1.8 million The government of Northern Ireland recently invested approximately C$15 million in geological surveys to attract investment Tellus Project 6

7 The Tyrone Project: Overview Excellent regional infrastructure Our flagship asset is the Curraghinalt mesothermal high grade gold deposit Over 84,000 hectares under licence Lonmin PLC is exploring for platinum and palladium Potential exists for further precious and base metals deposits Galantas Gold Corporation has been in production since late 2007 Conroy Diamonds & Gold exploring for gold along a 50 km trend 7

8 Active Resource Industry in County Tyrone There are approximately 150 open cast operations in the region Cavanacaw Gold Mine Sand and gravel pit 100 metres Peat Harvesting Gortin Glen Logging 8

9 Curraghinalt: 3D Schematic of Veins and Adit Work historically focused proximal to discovery outcrop 9

10 Current Drilling Program: Resource Expansion June 8, 2011 Drilling at Curraghinalt intersects 2.06 metres of g/t gold and 1.11 metres grading g/t gold April 7, 2011 Hole 11- CT-85 cut 2.54 metres of g/t gold February 28, 2011 Hole 10-CT-76 cut 2.74 metres of g/t gold December 2, 2010 Hole 10-CT-73 cut 1.83 metres of g/t gold October 14, 2010 Two new parallel veins discovered Please see Appendix for cross-sections. 10

11 Date:07/06/2011 Author: Dalradian Office: Gortin Drawing: SC Scale: 1:4000 Projection: Non-Earth (meters) Date:07/06/2011 Author: Dalradian Office: Gortin Drawing: SC Scale: 1:3000 Projection: Non-Earth (meters) Veins open at depth Longer holes intercept as many as nine veins Proximity favourable for shared infrastructure 385,800mN 386,000mN 386,200mN 386,400mN 386,600mN 386,800mN 386,000mN 386,200mN 386,400mN 386,600mN 200mMSL 0mMSL -200mMSL E 11-CT-89 E' 200mMSL 0mMSL -200mMSL 200mMSL 0mMSL A Dalradian Resources 11-CT CT-87 A' 200mMSL 0mMSL -400mMSL Curraghinalt Deposit E - E' (Section E) Intercepts reported as: True width (m), Au grade (g/t) metres 386,000mN Legend Planned drillhole Drillhole complete/active Reported drillhole Shear zone Vein (projected) Vein (intersected) 386,200mN 386,400mN 386,600mN -400mMSL -200mMSL Curraghinalt Deposit Figure 3: A - A' (Section E) Intercepts reported as: True width (m), Au grade (g/t) 386,000mN Legend Planned drillhole Drillhole complete/active Reported drillhole 386,200mN Shear zone Vein (projected) Vein (intersected) 386,400mN -200mMSL 11

12 Comparing Curraghinalt Drilling to Mesothermal Model Demonstrates Potential for Expansion Potential exists to discover additional veins proximal to resource and new veins outside the principal zone System open along strike and down dip Additional potential to north and south After Colvine, A.C. et al, An empirical model for the formation of Archean gold deposits: Economic Geology Monograph (The Geology of Gold Deposits: The Perspective in 1988), p

13 Open along strike Glaciated terrain with minimal outcrop Drilling is primary exploration tool 13

14 Regional Exploration Program 14

15 Regional Exploration - Historic On license DG1, 461 samples with grades up to g/t Au On license DG2, 691 samples with grades up to g/t Au and some float samples with VMS style mineralization including one grading 8.8% Zn, 1.2% Pb, 1.7 g/t Au and 8.5 g/t Ag On license DG3, 350 samples with grades up to g/t Au On license DG4, 261 samples with grades up to 187 g/t Au 15

16 Regional Exploration - Current 16

17 19 Target Areas 3 Exploration Trends Glenlark Trend Curraghinalt Trend 17

18 18

19 Dalradian: A Golden Opportunity in Northern Ireland Initial strategy is to explore and develop Curraghinalt mesothermal gold deposit in Northern Ireland Resource update in Fall 2011 Dalradian is also exploring additional targets on its approximately 84,000-hectare Tyrone Project Well funded to execute on strategy 19

20 Appendix 20

21 Curraghinalt NI Technical Report Prepared by Micon International Limited Dated May 10, 2010 Updated from November 2007 and reflects revised gold price Curraghinalt Mesothermal Gold Deposit Indicated g/t Au for 0.4 million contained ounces with an average width of 1.35 m Inferred g/t Au for 1.16 million contained ounces with an average width of 1.18 m Notes: Subject to a 2% NSR royalty to Minco Plc and a 4% royalty to the Crown Estate on silver and/or gold production Assumes US$900/oz and an economic cut-off grade of 5 g/t Au over a minimum thickness of 0.10 metres, diluted to 1 metre at 0 grade Using a cut-off grade of 5 g/t All veins less than 10 cm were excluded Width or vein thickness is measured at 90 degrees to the vertical "Vein thickness" refers to a zone of grade and may not be 100 per cent vein material Please see "A Mineral Estimate for The Curraghinalt Gold Deposit and A Review of a Proposed Exploration Program for the Tyrone Project, County Tyrone and County Londonderry, Northern Ireland" dated May 10, 2010 and available at 21

22 Multiple High Grade Gold Veins Name Width Grade Depth Sheep Dip Vein 1.1 m 29.3 g/t m 1.3 m 31.4 g/t 36.1 m Mullen Vein 1.0 m 19.3 g/t m 1.3 m 19.6 g/t 49.9 m T-17 HW Vein 4.1 m 42.7 g/t 42.9 m 1.6 m 56.3 g/t m T-17 Vein 3.4 m 68.1 g/t 39.6 m 1.5 m 27.0 g/t m No. 1 Vein 2.0 m 48.7 g/t 77.0 m 1.3 m 65.7 g/t m Vein 2.0 m 24.0 g/t 41.5 m 3.3 m 16.9 g/t m Road Cut Vein 1.6 m 14.1 g/t 55.5 m 1.2 m 13.9 g/t m 22

23 Cross-section A to A' 23

24 Cross-section B to B' 24

25 Cross-section C to C' 25

26 A Golden Opportunity in Northern Ireland Patrick F. N. Anderson Chairman and Chief Executive Officer Keith McKay Chief Financial Officer Trading Symbol: DNA on TSX Executive Office: Dalradian Resources Inc. 155 Wellington Street West Suite 2920 Toronto, ON M5V 3H1 Shae-Lynn Mathers Director, Investor Relations: