An Open-Pit Amenable High Grade Cobalt-Nickel Zone Located in the World's Top Mining ...

21 Pages·2017·2.26 MB·English

West Bear Cobalt-Nickel
An Open-Pit Amenable High Grade Cobalt-Nickel Zone Located in
the World’s Top Mining Jurisdiction
Seeking Opportunities to Enhance UEX Shareholder Value
Forward Looking Statements
FORWARD-LOOKING INFORMATION AND STATEMENTS:
Certain statements and other information contained in this presentation may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation or
constitute“forward-lookingstatements” withinthemeaningof applicableUnitedStates securities legislation. Suchstatements arebased onUEX'scurrent expectations, estimates, forecasts
andprojections.Suchforward-lookinginformationincludesstatementsregardingtheproposedspin-outofCoEXshares,theWBUDepositdrillprogram,UEX'sdrillholeresults,thelikelihood
ofREGandscintillometerresultsbeingconfirmedbyassays,mineralresourceandmineralreserveestimates,uranium,cobaltandnickelprices,outlook forourfutureoperations, plansand
timingfor explorationactivities, and other expectations, intentions andplans that arenot historicalfact. Suchforward-lookinginformationisbasedoncertainfactors andassumptions andis
subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Important
factors that could cause actual results to differ materially from UEX's expectations include uncertainties relating to the possible spin-out of CoEX, interpretation of drill results and geology,
reliability of REG results produced by the Company’s down-hole probing system, scintillometer results, assay confirmation, additional drilling results, continuity and grade of deposits,
participation in joint ventures, reliance on other companies as operators, public acceptance of uranium as an energysource, fluctuations in uranium, cobalt and nickel prices and currency
exchange rates, changes in environmental and other laws affecting uranium, cobalt and nickel exploration and mining, and other risks and uncertainties disclosed in UEX's Annual
InformationForm and other filingswiththe applicable Canadiansecurities commissions onSEDAR. Manyof thesefactors are beyondthe control of UEX. Consequently, allforward-looking
information contained in this news release is qualified by this cautionary statement and there can be no assurance that the CoEX spin-out will occur as proposed or at all, or that actual
results or developments anticipated by UEX will be realized. For the reasons set forth above, investors should not place undue reliance on such forward-looking information. Except as
required byapplicable law,UEXdisclaimsanyintention orobligation toupdate orreviseforward-looking information, whetherasaresultofnewinformation, futureeventsorotherwise.
NOTICE TOU.S. PERSONS:
TheinformationinthispresentationhasbeenpreparedinaccordancewiththerequirementsofCanadiansecurities laws,whichdifferfromtherequirementsofUnitedStates securitieslaws.
Information,includingscientificortechnicalinformation,hasbeenpreparedinaccordancewithNationalInstrument43-101-StandardsofDisclosureforMineralProjects(“N.I.43-101”). N.I.
43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning
mineralprojects. Canadianstandards,includingN.I.43-101,differsignificantlyfromtherequirementsoftheSEC. Forexample,theterms“indicatedmineralresources”and“inferredmineral
resources” are used in this publication to comply with the reporting standards in Canada. While those terms are recognized and required by Canadian regulations, the SEC does not
recognizethem. Under United States standards, mineralizationmaynot be classified as a “reserve” unless the determination has been made that the mineralization could be economically
andlegallyproducedorextractedatthetimethereservedeterminationismade. Readersshouldunderstandthat“indicatedmineralresources”and“inferredmineralresources”haveagreat
amountofuncertaintyastotheirexistenceandastotheireconomicandlegalfeasibility. Readersarecautionednottoassumethatanypartorallofthemineraldepositsinthesecategories
will ever beconverted intomineralreserves. In accordancewithCanadian rules, estimates of “inferredmineral resources” cannot form the basis of feasibilityor other economic studies. In
addition, the definitions of proven and probable mineral reserves used in N.I. 43-101 differ from the definitions in the SEC Industry Guide 7. Disclosure of “contained pounds” is permitted
disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place tonnage and grade without
referencetounitmeasures. Accordingly,informationcontainedinthispublicationdescribingtheCompany’smineralpropertiesmaynotbecomparabletosimilarinformationmadepublicby
U.S.companies subjecttothereporting anddisclosurerequirements under theUnitedStatesfederalsecurities lawsandtherulesandregulations thereunder.
QUALIFIED PERSON:
Technical informationinthis presentationhas beenreviewedand approvedbyRoger Lemaitre, P.Eng., P.Geo., UEX’sPresident andCEO, whoisaQualifiedPersonas definedbyN.I. 43-
101.
Drive to Cobalt Why ?
Source: Eight Capital, David Talbot, February 1, 2018
300
225
150
75 BMO Cobalt Demand
(Dec 2017)
2016 – 96 kt
0
eCobalt Fortune Min US Cobalt First Cobalt Cruz LiCo
2025E - 142 kt
Resource (M lbs) Market Cap ($M)
West Bear Cobalt Why Invest?
Discovered and partially-tested between 2002 and 2005 previous
operators including UEX exclusively focussed exploration efforts on
unconformity-uranium and disregarded the cobalt-nickel potential
1 2
High Grade Open-Pit Amenable
Existing drill holes compare favourably to Ranges from 15 -55 m depth, moderate to
the those of cobalt companies with shallowly dipping hosted with very soft
resources clay-altered hanging wall rocks
Open in All Directions Best Jurisdiction &
North American Supply
The main zone is open in all directions,
two other high-priority exploration areas
Hosted in Saskatchewan, the worlds best
identified. Historical operators failed to
mining jurisdiction and potential stable
focus on or identify Co-Ni mineralization
North American supply
3 4
UEX Strategy Cobalt-Nickel
UEX plans to evaluate opportunities to enhance shareholder value
through our 100% owned West Bear Cobalt-Nickel Prospect
What does that look like?
UEX is currently evaluating what methods and vehicles that could
maximize value for shareholders which might include:
• Spinning-out of CoEX as a new company
• Selling the asset to another entity
• Seeking a joint venture partner to advance the project
• Advancing the project within UEX itself
TSX Listed Cobalt Valuations
Publicly-listed companies with North American cobalt assets
Developers Explorers Early Explorers
300
Where does West Bear
225
Co-Ni fit?
While there are several new
150
publicly-listed cobalt vehicles on
the TSX and TSX:V, only a handful
have defined resources.
75
The West Bear Co-Ni Prospect
could reach the inferred resource
stage with minimal effort.
0
eCobalt Fortune Min US Cobalt First Cobalt Cruz LiCo
Resource (M lbs) Market Cap ($M)
Property Location
Athabasca
Basin
Saskatchewan
LOCATION
ADVANTAGES
Saskatchewan Infrastructure-Blessed Mining Friendly
• World’s #1 Mining Investment • Situated within 10 km of all weather • Long-term history of mining and
Jurisdiction according 2016 Fraser road and existing power lines exploration
Institute study • UEX has well established network of
suppliers and labour in the region
UEX Cobalt Objectives
UEX has objectives for the Company and the Prospect in 2018
For UEX Shareholders For the Prospect
Conduct exploration drilling
Identify and execute a plan to program to expand the
maximize value of the known mineralized zone, and
Prospect to UEX to define mineralization at the
shareholders second and third priority
exploration targets
Maintain UEX’s focus on Complete a maiden Co-Ni
uranium through resource resource on the Prospect in
growth at Christie Lake Q3 2018
West Bear Co-Ni Prospect - Spotting Holes in 2003
Known Grades West Bear
The assay grades at West Bear compare favourably to the grades of
global and North American cobalt deposits
25
20
15
10
5
165,000
0
MIRUM EST NOTARE
0 3 6 9 12 15 QUAM LITTERA
GOTHICA, QUAM NUNC
PUTAMUS PARUM
CLARAM
Quod ii legunt saepius
Typi non habent claritatem insitam; est usus legentis in iis qui facit eorum claritatem.
Investigationes demonstraverunt lectores legere me lius quod ii legunt saepius.Claritas
est etiam processus dynamicus, qui sequitur mutationem consuetudium lectorum.