Nevada based precious metals resource company focused on growth - TSXV:MPM
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TSXV:MPM
Nevada based precious
metals resource company
focused on growth
Corporate Update
June 2021
1
DISCLAIMER
Certain statements in this presentation are forward-looking statements, which reflect the expectations of management regarding the business development objectives and plans of Millennial Precious Metals Corp. (“Millennial” or the
“Company”).
Forward-looking information contained in this presentation are based on certain factors and assumptions. While Millennial considers these assumptions to be reasonable based on information currently available to it, they may prove to be
incorrect. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans
continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global
financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title
and environmental risks and risks relating to health pandemics and the outbreak of communicable diseases, such as the current outbreak of the novel coronavirus, COVID-19.
Further, these forward looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the
Company’s actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties
and speculative nature associated with mineral exploration, (3) a decreased demand for precious metals, (4) any number of events or causes which may delay exploration and development of the property interests, such as
environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all
necessary permitting and financing, and (8) other factors beyond the Company’s control. These forward looking statements are made as of the date of this presentation and Millennial does not assume an obligation to update these
forward looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
This presentation contains information regarding mineral resources estimated at projects referenced herein. Such mineral resources and other scientific and technical information in this presentation has been reviewed and approved by
Leonardo De Souza, an independent “Qualified Person” within the meaning of National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”).
The disclosure in this presentation may use mineral resource classification terms that comply with reporting standards in Canada, and mineral resource estimates that are made in accordance with NI 43-101. These standards differ
significantly from the mineral reserve disclosure requirements of the United States Securities Exchange Commission (the “SEC”) set forth in Industry Guide 7. Consequently, information regarding mineralization contained in this
presentation is not comparable to similar information that would generally be disclosed by U.S. companies in accordance with the rules of the SEC and terms recognized under Canadian regulations are not recognized by the SEC.
It cannot be assumed that all or any part of mineral resource categories referred to in this presentation will ever be upgraded to a higher category or converted into mineral reserves as defined in NI 43-101 or Industry Guide 7.
Additionally, “inferred mineral resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility, therefore investors are also cautioned not to assume that all or any part of an inferred
mineral resource exists or that any part of the mineral resources in this presentation are economically or legally mineable.
This presentation also contains or references certain market, industry and peer group data which is based upon information from independent industry publications, market research, analyst reports and surveys and other publicly
available sources. Although the Company believe these sources to be generally reliable, such information is subject to interpretation and cannot be verified with complete certainty due to limits on the availability and reliability of raw data,
the voluntary nature of the data gathering process and other inherent limitations and uncertainties. The Company has not independently verified any of the data from third party sources referred to in this presentation and accordingly, the
accuracy and completeness of such data is not guaranteed.
This document is not an offer of securities for sale in the United States or in any other jurisdiction. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the
“U.S. Securities Act”) or any state securities laws and may not be offered and sold in the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act.
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
2 PRECIOUS METALS
MILLENNIAL SENIOR LEADERSHIP TEAM
Jason Kosec Andres Tinajero Ruben Padilla Terry Harbort Michael Leskovec Sara Heston
President, CEO & CFO Director & Chief Director Director Director
Director Geologist
! 10+ years’ experience ! 35+ years’ experience in ! +35 years’ experience in ! +30 years’ experience in ! 15+ years’ experience ! Ms. Heston has been an
across mineral international finance mineral exploration mineral exploration; with public companies & Associate Director,
exploration, mine recognized senior capital markets Center for
! Former VP, CFO and ! Extensive former
development, corporate discovery team member Entrepreneurial Studies
Corporate Controller for experience with ! Currently CFO at
development and various multinational AngloGold Ashanti at AngloGold's Ashanti's Northfield Capital and at the Stanford
finance La Colosa and
corporations including including Exploration CFO at Nighthawk Gold ! Previously Vice
Gramalote deposits
! Former VP, Corporate the United Nations, State Country Manager and ! Previously with Gold President of Investments
Development and Chief Bank, Lafarge, Chief Geologist for the ! Co-founder & VP, Eagle Mines (Bruce for ASA Gold where she
Mine Geologist for Trelawney Mining and Americas Exploration of Talisker managed a global
Channel deposit in Red
Barkerville Gold Osisko Royalties Exploration Services & portfolio 2010 - 2019.
! Founder & Chief Lake, sold to Goldcorp
former Chief
! Former project Geologist ! Currently serves CFO Geologist for Talisker for $1.5 billion in 2008) ! Currently a director of
and Director of Talisker Exploration Services Geoscientist, Barkerville The Denver Gold Group,
with Trelawney Mining, Gold
Resources and Director Inc., Spanish Mountain
IAMGOLD ! Currently President &
for Sable Resources and CEO of Sable ! Currently President, Gold Ltd. and Dore
! Currently VP, Strategic JHI Energy CEO and Director of Copper Mining Corp.
Resources and Director
Development for Sable Talisker Resources and
of Minera Alamos ! She holds a BA in
Resources and Board Director and VP,
Economics from
member for Adyton Corporate Development Vanderbilt University and
Resources of Sable Resources an MBA from Columbia
University.
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
3 PRECIOUS METALS
MILLENNIAL OVERVIEW
Precious metals Corporate Overview
resource company ! Nevada focused roll-up gold vehicle; intended to be
focused building a
the next “go-to” exploration and development play in
North America
multi-million-ounce ! Executive team with significant experience
multi asset company in mineral exploration, having discovered 59Mozs of
gold to date across 7 projects with 5 of such projects
now construction ready or in production1
Focused on near ! High quality portfolio of assets in Nevada that have
surface heap
not been in the public markets for +10 years
! Aggressive growth strategy through resource
leachable ounces in expansion, conversion and target generation
one of the world’s top ! Strong financial backing; significant insider ownership
mining jurisdictions
aligning management with shareholders
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
1. 59Mozs total Au discoveries across La Colosa (AngloGold Ashanti),
Escondita East (BHP), Windfall (Osisko), Cariboo (Barkerville), Côté Lake MILLENNIAL
4 (IAMGOLD) and Sanata/Cerro de Oro (Minera Alamos) PRECIOUS METALS
CAPITALIZATION & KEY SHAREHOLDERS
Share Structure Ownership
2.0%
Basic Shares Outstanding 135,735,108 19.9%
Institutional Investors
Options 5,677,000 Retail
Management & Board
Warrants 2,741,310 9.3% 54.1%
Waterton
RSUs 3,603,000 Red Canyon
14.7%
Fully Diluted Shares Outstanding 147,756,418
Top 10 Institutional Shareholders % Ownership
Merk 9.1%
Current Cash Position ~C$23M Eric Sprott 8.2%
Vestcor 6.7%
Regal 6.4%
NewGen 5.7%
Terra Capital 2.6%
Millennial is well capitalized with strong Northfield 2.2%
Sentry 2.2%
support from both strategic and
Medalist 1.9%
institutional investors
Parkwood / Samara 1.3%
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MILLENNIAL
5 PRECIOUS METALS
NORTHERN NEVADA GETCHELL
RIFT WEST CORRIDOR TREND
INDEPENDENCE TREND
MOUNTAIN MILLENNIAL
VIEW
PRECIOUS METALS
DUNE MILLENNIAL
MILLENNIAL CORPORATE SUMMARY
PRECIOUS METALS
CA
RL
IN
59Moz $23M
TR
EDEN
EN
MILLENNIAL
WILDCAT MILLENNIAL
PRECIOUS METALS
D
PRECIOUS METALS
RED CANYON MILLENNIAL
PRECIOUS METALS
MARR MILLENNIAL
PRECIOUS METALS
BA
TT
LE
OCELOT
Team has over Current cash
MILLENNIAL
PRECIOUS METALS
M
TN
59 million ounces balance of ~$23
.-
EU
R
of gold discovery1 million
EK
A
TR
EN
D
1.2Moz 20,000m
W NEVADA
A
LK
ER
LA
N
E
TR
EN
1.2Mozs global 20,000m of drilling in D
oxide Inferred 2021 across 3
Resource (+700koz projects
potential)2,3
1. Refer to slide 3 for list of gold discoveries; 2. Global resource includes Wildcat and Mountain View Inferred Resources outlined on slides 7 and 10; 3.The exploration target in the fresh rock in respect of the Wildcat
Property ranges from 40-50Mt at average grades of 0.39-0.44g/t gold and 4.4-4.7g/t silver, containing 0.5-0.7Moz gold and 6-7Moz silver; the potential quantity and grade of this exploration target is conceptual in nature,
there has been insufficient exploration to define it as a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource
Source: November 2020 NI 43-101 Technical Reports for the Wildcat Project and the Mountain View Project filed on SEDAR
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6 PRECIOUS METALS
KEY ASSETS – WILDCAT NORTHERN NEVADA GETCHELL
RIFT WEST CORRIDOR TREND
INDEPENDENCE TREND
Summary MOUNTAIN
VIEW
MILLENNIAL
PRECIOUS METALS
DUNE MILLENNIAL
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CA
Property Resource-stage, low-sulfidation epithermal project; widespread oxide and sulfide Au
RL
IN
TR
Location Located in the Farrell Mining District, Nevada, ~56km from the town of Lovelock
WILDCAT EDEN
EN
MILLENNIAL MILLENNIAL
PRECIOUS METALS PRECIOUS METALS
D
Land Package ~3,700 hectare land package, including 481 unpatented and 4 patented claims
RED CANYON MILLENNIAL
MARR
PRECIOUS METALS
Year-round road access from Lovelock via State Route 398 and 399, paved for first MILLENNIAL
Access PRECIOUS METALS
~25km
BA
TT
Infrastructure Lovelock has a population of ~3,000, with infrastructure to support a mining operation
LE
OCELOT MILLENNIAL
PRECIOUS METALS
M
Drilling 256 RC holes drilled, totaling ~95,000 feet
TN
.-
EU
Significant Intercepts 80’ @ 8.0 g/t Au, including 35’ @ 17.1 g/t Au
R
EK
A
Geochemistry 1,500 rock chip (surface & underground) and 3,000 soil samples
TR
EN
Geophysics Ground magnetic data, VLF, IP and resistivity data
D
NEVADA
Mineral Resources1 W
A
LK
ER
Gold Silver Gold Silver LA
Gold Price Tons* Stripping N
E
Category Grade Grade Ounces Ounces TR
(US$/oz) (Mt) Ratio
(g/t) (g/t) (koz) (Moz) EN
D
$1,300 53.3 0.43 3.4 720 6.0 0.16
$1,400 57.3 0.40 3.4 752 6.3 0.16
0 50 Miles
Inferred $1,500** 60.8 0.40 3.4 776 6.6 0.16
$1,600 64.8 0.37 3.4 805 7.0 0.18
Property
$1,700 67.6 0.37 3.4 824 7.3 0.19 Locations
Major Active
1. Refer to the November 2020 NI 43-101 Technical Report for the Wildcat Project filed on SEDAR Mines 2019
* Note that each scenario has a different pit shell and cut-off grade; ** Base case gold price is US$1,500/oz
Significant
Metals Deposits
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MILLENNIAL
7 PRECIOUS METALS
KEY ASSETS – WILDCAT
Strategy, Timeline & Budget
! Phase 1 and 2 drilling program to:
! Define high grade core
! Identify plumbing systems
! Resource expansion and resource conversion MOUNTAIN
! Starting 3Q21 VIEW MILLENNIAL
PRECIOUS METALS
! 8,000m
! Release updated NI 43-101 resource update 2Q22
! Release PEA 3Q22
! ~US$2M exploration budget for 2021
WILDCAT MILLENNIAL
PRECIOUS METALS
W LA
AL NE
KE
R
0 20
Kilometers
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MILLENNIAL
8 PRECIOUS METALS
KEY ASSETS – MOUNTAIN VIEW NORTHERN NEVADA GETCHELL
RIFT WEST CORRIDOR TREND
INDEPENDENCE TREND
MOUNTAIN
Summary VIEW
MILLENNIAL
PRECIOUS METALS
DUNE MILLENNIAL
PRECIOUS METALS
CA
Property Resource-stage, low-sulfidation epithermal project; disseminated and vein-hosted Au
RL
IN
TR
Location Located in the Deephole Mining District, Nevada, ~24km from the town of Gerlach EDEN
EN
MILLENNIAL
WILDCAT MILLENNIAL
PRECIOUS METALS
D
PRECIOUS METALS
Land Package ~1,000 hectare land package, consisting of 127 unpatented claims
RED CANYON MILLENNIAL
MARR
PRECIOUS METALS
Access Year-round road access via State Route 447 followed by a ~2km gravel road MILLENNIAL
PRECIOUS METALS
BA
Infrastructure Gerlach is the closest town, main power line traverses the property
TT
LE
OCELOT MILLENNIAL
PRECIOUS METALS
Drilling >250 RC and diamond drilling holes completed
M
TN
.-
Significant Intercepts 5’ @ 2502 g/t Au, 5’ @ 959 g/t Au, 5’ @ 188 g/t Au
EU
R
EK
Geochemistry 4,600 soil samples taken, 807 grab samples with 2-8 ppm
A
TR
EN
Geophysics Gravity, magnetic, and CSMAT data complete
D
NEVADA
Mineral Resources1
W
AL
KE
Gold Silver
R
Gold Price Tons* Gold Grade Silver Grade Stripping
LA
Category Ounces Ounces
NE
(US$/oz) (Mt) (g/t) (g/t) Ratio
(koz) (Moz)
TR
EN
$1,300 20.2 0.62 2.90 400 1.9 3.0
D
$1,400 21.9 0.59 2.79 419 2.0 2.8
Inferred $1,500** 23.2 0.57 2.68 427 2.0 2.7 0 50 Miles
$1,600 24.6 0.56 2.58 440 2.0 2.6
$1,700 25.9 0.54 2.53 450 2.1 2.5 Property
Locations
Major Active
1. Refer to the November 2020 NI 43-101 Technical Report for the Mountain View Project filed on SEDAR Mines 2019
* Note that each scenario has a different pit shell and cut-off grade; ** Base case gold price is US$1,500/oz
Significant
Metals Deposits
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
9 PRECIOUS METALS
KEY ASSETS – MOUNTAIN VIEW
Strategy, Timeline & Budget
! Phase 1 and 2 drilling program to:
! Define high grade core
! Identify plumbing systems
! Resource expansion and resource conversion MOUNTAIN
! Starting 2Q21 VIEW MILLENNIAL
PRECIOUS METALS
! 9,000m
! Release updated NI 43-101 resource 2Q22
! Release PEA 3Q22
! ~US$2M exploration budget for 2021
WILDCAT MILLENNIAL
PRECIOUS METALS
W LA
AL NE
KE
R
0 20
Kilometers
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MILLENNIAL
10 PRECIOUS METALSKEY ASSETS – RED CANYON NORTHERN NEVADA GETCHELL
RIFT WEST CORRIDOR TREND
Summary MOUNTAIN MILLENNIAL
DUNE
INDEPENDENCE TREND
VIEW
PRECIOUS METALS
MILLENNIAL
PRECIOUS METALS
Exploration - Broad area of strong hydrothermal system with high grade gold
CA
in permissive Devonian host rocks; extensive and deep oxidation similar
RL
Property
IN
geology to Barrick’s giant Cortez Hills; Millennial has an option to acquire
TR
the Red Canyon Property pursuant to a lease and option agreement EDEN
EN
MILLENNIAL
WILDCAT MILLENNIAL
PRECIOUS METALS
D
Trend Cortez Trend
PRECIOUS METALS
Land Package 2,083 hectares RED CANYON MILLENNIAL
PRECIOUS METALS
MARR MILLENNIAL
Deposit Type Carlin Style
PRECIOUS METALS
BA
Drilling No holes test the Devonian unit which hosts the Cortez Hill deposit
TT
LE
Significant Intercepts 39.6 meters at 4.79 g/t Au (oxide) OCELOT MILLENNIAL
PRECIOUS METALS
M
TN
Geochemistry 4,600 soil samples taken, 807 grab samples with 2-8 ppm
.-
EU
Geophysics Gravity, magnetic, and CSMAT data complete
R
EK
Geological Model
A
TR
EN
D
NEVADA
W
AL
KE
R
LA
NE
Geology between
TR
Potential
EN
Mineralized Body
Cortez Hill and Gold
D
Rush is very similar
0 50 Miles
Potential Mineralized Body
Property
Locations
Major Active
Mines 2019
Note: Asset Information based on documentation provided by Red Canyon Corporation Significant
Metals Deposits
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
11 PRECIOUS METALSKEY ASSETS – RED CANYON
Strategy,
Timeline and Budget
! Confirm historical drill intercepts within
primary targets
! 2300 m phase 1 drill program on the
heavenly zone
! Define grade, continuity, and geometry
within the Ice target
BA
TT
! Phase 1 complete
LE TR
! 10 holes remaining to be
M EN
RED
TN D
released
CANYON
–
MILLENNIAL
EU
! Begin drill testing conceptual targets
MARR MILLENNIAL
PRECIOUS METALS
RE
(9 targets) PRECIOUS METALS
KA
! Expand existing land package
! Complete full BLM permit
! ~US$1,300,000 for phase 1 program
OCELOT MILLENNIAL
PRECIOUS METALS
Property Locations
Major Active Mines 2019 0 20
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION Significant Metals Deposits MILLENNIAL
12 Kilometers PRECIOUS METALSCARLIN TYPE DEPOSITS
RED CANYON CHECKLIST
Exploration Criteria
" Reactive carbonate rocks
" Regional mid-crustal break
" Pre-mineral deformational events to provide induced
permeability and fluid conduits
" Decalcification of impure calcareous sedimentary
rocks
" Magmatic or metamorphic fluids
" Lithological – Rheological contrasts astride ones of
deformation or along major fault offsets
" Jasperoidal replacement (with evidence of
hydrothermal brecciation above targets)
" Extensive Hg,As,Ti surface geochemistry
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
13 PRECIOUS METALSRED CANYON – JUNE 16TH
PRESS RELEASE
! 245 grams per meter oxide – DDH-002RD ! Current footprint from phase 1 drilling is 200m x 600m
! Hosted in a Calcareous siltstone – similar to the Cortez ! Possibly double plunging to the northeast and southwest
! 35 km from Cortez complex ! Wall fault represent a major crustal break – thought of as the wall fault at
cortez
! Open to the southeast and closed to the Northwest
! Possibly folded back or faulted off
! Open down dip within the limestone and siltstone
Table 1 – Au Intercepts from holes HVN-2021-001RD and -002RD
Hole ID From To Interval Au g/t
HVN-2021-001RD 22 44 22 2.6
HVN-2021-002RD 0.00 54.0 54 4.54
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MILLENNIAL
14 PRECIOUS METALSESG - THINKING OF TOMORROW, TODAY
OUR APPROACH TO ESG HEALTH & SAFETY
Guided by our mission and core values we are committed to We promote a culture of safety by leading by example.
creating lasting socio-economic benefits for all stakeholders In all of our activities, we strive to reduce risk through
through the responsible discovery and expansion of economic elimination, substitution, engineering controls,
gold ounces. procedures, training, and protective equipment to
ensure everyone returns home safety, every day.
We are committed to protecting the natural
environment and minimizing adverse impacts
ENVIRONMENTAL caused by our operations or activities.
We are committed to creating and sharing OUR COVID-19 RESPONSE
economic value in the countries and communities
SOCIAL where we operate.
Millennial Precious Metals is committed to managing and
responding to COVID-19 by respecting the
recommendations of health authorities and local and
Strong corporate governance policies and
national regulatory requirements.
GOVERNANCE processes enables us to effectively manage and
oversee ESG-related risks and opportunities.
15 FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
15 PRECIOUS METALSPROJECT BENCHMARKING – NEVADA OXIDE GOLD
Strip Ratio (waste:ore) Resource Grade (g/t Au)1
North Bullfrog (KOR) 1.0 Railroad-Pinon (GSV) 0.86
Low strip
Wildcat+Mtn.View (MPM) 1.1 Mother Lode (KOR) 0.77
ratio to
Hasbrouck (WVM) 1.1 Relief Canyon (USA) 0.74
drive Pan (F) 1.7 Gold Bar (MUX) 0.74
Millennial Florida Canyon (AR) 1.7 Gold Rock (F) 0.69
project Gold Rock (F) 2.7 Round Mountain (K) 0.65
economics Round Mountain (K) 2.9 Pan (F) 0.48
Railroad-Pinon (GSV) 3.1 Marigold (SSRM) 0.46
Marigold (SSRM) 3.2 Wildcat+Mtn.View (MPM) 0.45
Mother Lode (KOR) 3.7 Hasbrouck (WVM) 0.42
Relief Canyon (USA) 3.9 Florida Canyon (AR) 0.41
Gold Bar (MUX) 5.2 North Bullfrog (KOR) 0.30
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
1. MPM total grade and strip ratio includes Wildcat and Mountain View Inferred Resources
Note: Peer set based on selected open-pit, oxide gold projects located in Nevada with publicly available
MILLENNIAL
16 PRECIOUS METALS
data for mineral reserves & resources and strip ratio; Source: Company disclosure, FactSetCOMPETITIVE POSITIONING – NORTH AMERICAN GOLD EXPLORATION
Market Cap. (US$M)1 Total Resource (Moz Au)2 EV / Total Rsrc. (US$/oz Au)
OSK $919 PPTA 7.3 NKG $152
PPTA $585 TLG 7.1 LGD $141
Millennial LGD $396 OSK 6.6 OSK $99
trades at a KOR $375 OIII 5.7 KOR $83
GSV $203 KOR 4.2 PPTA $75
discount to PRB $188 KORE 3.9 GSV $57
the peer ITR $176 PRB 3.8 ITR $53
average OIII $167 RVG 3.0 WVM
MPM
$47
TLG $152 GSV 3.0 $39
Significant
NKG $112 ITR 2.7 PRB $38
KORE $71 LGD 2.6 WGO $33
re-rating MPM $69 NHK 2.2 RGD $27
opportunity WGO $62 WGO 1.8 KORE $16
WVM $58 MPM TLG $16
1.2
NHK $45 OIII $11
RGD 1.2
RGD $41 NHK $11
WVM 1.1
RVG $10 Average: US$54/oz Au
RVG $38 NKG 0.6
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1. Market cap. shown on a FDITM basis; 1. MPM global resource includes Wildcat and Mountain View
Inferred Resources; Note: Market data as of 23-Jun-21; Source: Company disclosure, FactSet
MILLENNIAL
17 PRECIOUS METALSUPCOMING CATALYSTS
H1
• Complete go-public transaction; commence trading on the TSX-V "
Millennial to • Initiate 20,000m drill program at Wildcat, Mountain View and Red Canyon
"
2021
provide • Addition of key members of leadership and technical team
"
investors
with a • Drilling 2300m at Red Canyon – drill results monthly Q1-Q2
"
H2
consistent 2021
• Drilling 9000m at Mountain View – drill results monthly Q2-Q3
"
stream of • Wildcat 8000m wildcat – drill results monthly Q3-Q4
positive
share price H1
• Resource update Mountain View
catalysts 2022
• Resource update Wildcat
through
• Commence Greenfields program
2021 & 2022
• PEA Mountain
H2
• PEA Wildcat
2022
• Phase 2 Red Canyon drill program
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
[NTD: ADD SOURCE IF NECESSARY] MILLENNIAL
18 PRECIOUS METALSNORTHERN NEVADA GETCHELL
RIFT WEST CORRIDOR TREND
INDEPENDENCE TREND
MOUNTAIN MILLENNIAL
DUNE
WHY MILLENNIAL?
VIEW
PRECIOUS METALS
MILLENNIAL
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CA
RL
IN
TR
Focused EDEN
EN
MILLENNIAL
• Inferred resource of +1.2Moz Au in prolific Northern Nevada1 WILDCAT MILLENNIAL
PRECIOUS METALS
D
Portfolio with
PRECIOUS METALS
• 7 high-quality assets (2 advanced exploration & 5 RED CANYON MILLENNIAL
+1.2Moz Au Inf.
PRECIOUS METALS
prospective pre-resource stage projects) all in low-risk MARR MILLENNIAL
Resource1
PRECIOUS METALS
jurisdiction
BA
TT
LE
OCELOT MILLENNIAL
• Aggressive exploration campaigns planned at Wildcat,
PRECIOUS METALS
M
TN
Adding Value at Mountain View and Red Canyon
.-
EU
the Drill-bit • Primary targets identified and drill-ready
R
EK
A
• Oxide mineralization near-surface = low discovery cost
TR
EN
D
Well-Capitalized • Cash balance of ~C$23 million to fund 2021 exploration
to Deliver on programs and technical work W NEVADA
A
Exploration • Strong shareholder support from institutional and strategic
LK
ER
Programs investors LA
N
E
TR
EN
• Management and Directors have been credited with over
Experienced
D
59Moz Au in discoveries across 7 projects2
Geologists at • In-house technical experience (Osisko / Talisker) to drive
the Helm targeted exploration programs across portfolio
Compelling • EV / Resource valuation of ~US$40/oz trading at a discount
Valuation with to the peer average of ~US$55/oz
Significant • Significant re-rating opportunity and near-term share price
Upside catalysts
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MILLENNIAL
19 PRECIOUS METALSMILLENNIAL
PRECIOUS METALS
Appendix
MILLENNIAL
PRECIOUS METALSOCELOT
Summary
Exploration - Broad area of argillic alteration, anomalous Au and
Property pathfinders in high-level quartz-chalcedony veins with boiling
textures, brittle Valmy Fm; Quartzites in basement
Trend Toiyabe Range
Land Package 1,229 hectares
Deposit Type LS Epithermal
116 RC holes (only logs are for 288-36-R to 288-74R and OC-06-
Drilling
01) and 1 core hole (OC-06-01, 216 ft TD). Avg depth of 270 ft
Significant Intercepts 10ft @ 0.5 g/t, 5 ft @ 1.2 g/t Au, various 10 to 40 ft of ~100 ppb Au
BA
TT
LE TR
104 rock-chips with up to 2 g/t Au, 27 g/t Ag, 136 ppm As, 26 ppm
Geochemistry
MT EN
Hg, 83 ppm Sb and 16.9 ppm Se RED
N D
CANYON
–E
MILLENNIAL
Geophysics Regional gravity and magnetic data
MARR
UR
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MILLENNIAL
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EK
Strategy, Timeline &
A
NORTHERN NEVADA
GETCHELL
RIFT WEST CORRIDOR
TREND
INDEPENDENCE TREND
M OUNTAIN
Budget
MILLENNIAL
VIEW
PRECIOUS METALS
DUNE MILLENNIAL
PRECIOUS METALS
CARLIN TREND
EDEN MILLENNIAL
W ILDCAT
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MILLENNIAL
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! Data compilation M ARR MILLENNIAL
PRECIOUS METALS BA
RED CANYON MILLENNIAL
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! Staking
TT
OCELOT MILLENNIAL
LE
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M
OCELOT
TN
.-
EU
MILLENNIAL
RE
KA
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TR
EN
D
NEVADA
W
AL
KE
R
LA
NE
0 20
TR
EN
D
0 50 Miles
Kilometers
Property Locations
MILLENNIAL
Major Active Mines 2019
Significant Metals Deposits
21 FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION PRECIOUS METALSMARR
Summary
Exploration - High-level exposure of a low-sulfidation system
Property characterized by chalcedony and opaline veining and sinter
terraces
Trend Toiyabe Range
Land Package 778 hectares
Deposit Type Low Sulphidation Epithermal
Drilling 8 holes, logs and assay data available
Significant Intercepts 20‘ @ 0.34 g/t Au (RBX98-6; 65-85 ft)
BA
TT
902 soils and 151 rock-chips, the highest concentrations in rock-
LE TR
Geochemistry chips were 294 ppb Au, 10.5 g/t Ag, 92 ppm As, 14 ppm Hg, 75
MT EN
ppm Sb RED
N D
CANYON
–E
MILLENNIAL
Geophysics CSAMT by MK Gold, Regional geophysics (J. Wright)
MARR
UR
PRECIOUS METALS
MILLENNIAL
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EK
Strategy, Timeline &
A
NORTHERN NEVADA
GETCHELL
RIFT WEST CORRIDOR
TREND
INDEPENDENCE TREND
M OUNTAIN
Budget
MILLENNIAL
VIEW
PRECIOUS METALS
DUNE MILLENNIAL
PRECIOUS METALS
CARLIN TREND
EDEN MILLENNIAL
W ILDCAT
PRECIOUS METALS
MILLENNIAL
PRECIOUS METALS
! Data compilation M ARR MILLENNIAL
PRECIOUS METALS BA
TT
RED CANYON MILLENNIAL
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OCELOT MILLENNIAL
LE
PRECIOUS METALS
M
OCELOT
TN
.-
EU
MILLENNIAL
RE
KA
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TR
EN
D
NEVADA
W
AL
KE
R
LA
NE
0 20
TR
EN
D
0 50 Miles
Kilometers
Property Locations
MILLENNIAL
Major Active Mines 2019
Significant Metals Deposits
22 FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION PRECIOUS METALSEDEN
Summary
Exploration - Western Nevada rift - Tertiary basaltic dikes and
quartz veins along through-going “plumbing structures”; excellent
N EV
NOR DA RIFT
Property
potential for untested bonanza vein gold in volcanic sediments in
A
basin to north of anomalous outcrop and along structural projection
TH E
Trend Southern Extension of Sleeper – Sandman trend
RN
Land Package 68 unpatented lode mining claims
Deposit Type Low Sulphidation Epithermal
63 holes drilled none deeper than 450 ft, and none got through the
Drilling
gravels
0 20
Significant Intercepts None – never been drilled below gravels
Kilometers
E N LL
46 samples taken with values around 0.130 ppm Gold and 270 DUNE MILLENNIAL
TR C H E
Geochemistry
D
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ppm Arsenic
EDEN MILLENNIAL
B A R EK
T
EU
PRECIOUS METALS
Geophysics Gravity and Magnetics, both regional and local
GE
TT A
LE TR
Strategy, Timeline &
M EN
TN D
NORTHERN NEVADA
GETCHELL
RIFT WEST CORRIDOR
TREND
INDEPENDENCE TREND
Budget
M OUNTAIN MILLENNIAL
VIEW
PRECIOUS METALS
DUNE MILLENNIAL
PRECIOUS METALS
EDEN MILLENNIAL
PRECIOUS METALS CARLIN TREND
W ILDCAT MILLENNIAL
! Data compilation
PRECIOUS METALS
RED CANYON MILLENNIAL
M ARR MILLENNIAL
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BA
TT
PRECIOUS METALS
OCELOT MILLENNIAL
LE
PRECIOUS METALS
M
TN
.-
EU
RE
KA
TR
EN
D
NEVADA
W
AL
KE
R
LA
NE
TR
EN
D
0 50 Miles
Property Locations
MILLENNIAL
Major Active Mines 2019
Significant Metals Deposits
23 FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION PRECIOUS METALSDUNE
Summary
Exploration - Western Nevada rift - Tertiary basaltic dikes and
quartz veins along through-going “plumbing structures”; excellent
N EV
NOR DA RIFT
Property
potential for untested bonanza vein gold in volcanic sediments in
basin to north of anomalous outcrop and along structural projection
A
TH E
Trend Southern Extension of Sleeper – Sandman trend
RN
Land Package 36 unpatented lode mining claims
Deposit Type Low sulphidation Epithermal
Drilling No holes test the Devonian unit which hosts the Cortez Hill deposit
0 20
Significant Intercepts Never drilled Kilometers
E N LL
DUNE MILLENNIAL
TR C H E
Geochemistry 15 grab samples from faulted quartz veins Au up to 2.4 ppm
D
PRECIOUS METALS
EDEN MILLENNIAL
B A R EK
T
EU
PRECIOUS METALS
Geophysics None
GE
TT A
LE TR
Strategy, Timeline &
M EN
TN D
NORTHERN NEVADA
GETCHELL
RIFT WEST CORRIDOR
TREND
Budget
INDEPENDENCE TREND
M OUNTAIN MILLENNIAL
VIEW
PRECIOUS METALS
DUNE MILLENNIAL
PRECIOUS METALS
EDEN MILLENNIAL
CARLIN TREND
! Data compilation
W ILDCAT
PRECIOUS METALS
MILLENNIAL
PRECIOUS METALS
RED CANYON MILLENNIAL
M ARR MILLENNIAL
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BA
TT
OCELOT MILLENNIAL
LE
PRECIOUS METALS
M
TN
.-
EU
RE
KA
TR
EN
D
NEVADA
W
AL
KE
R
LA
NE
TR
EN
D
0 50 Miles
Property Locations
MILLENNIAL
Major Active Mines 2019
Significant Metals Deposits
24 FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION PRECIOUS METALSCOMPLETED TRANSACTION STRUCTURE
Waterton Transaction 1
Red Canyon Transaction
Nevada Properties Creation of Nevada- Red Canyon
6 properties
(2 properties with Focused Precious Metal Property4
Inferred resources)
Exploration Company with
US$5M initial cash
payment 2.0% NSR on 4 +1.2Moz Inferred Oxide
Resource
+ properties2 3
US$2.5M milestone US$2M cash
2.0% NSR payment at year 4
payment 0.5% NSR on 2
+ properties with
US$2.5M milestone Inferred resources
payment
19.9% 2.0%
Clover Nevada
Red Canyon
(Waterton)
Public Co
Completed C$24M financing
concurrent with RTO RTO
1246768 B.C. Ltd
(Public Shell)
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
1. Millennial Silver Corp. and 1246768 B.C. Ltd. entered into an asset purchase agreement with Clover Nevada LLC in
respect of the acquisition of the six Nevada properties; 2. Millennial will has the right to purchase 1% of the NSR for a MILLENNIAL
25 one-time cash payment of US$1.5M; 3. Global resource includes Wildcat and Mountain View Inferred Resources outlined PRECIOUS METALS
on slide 7 and 10; 4. Assuming Millennial exercises option to acquire property prior to year 4 pursuant to the lease and
option to purchase agreement between Millennial and Red Canyon CorporationCOMPLETED TRANSACTION OVERVIEW
Waterton Transaction Red Canyon Transaction
Description Description
Agreement: Asset Purchase Agreement Agreement: Lease & Option Agreement
Properties: Dune, Eden, Marr, Ocelot, Mountain View & Wildcat Properties: Red Canyon including 254 unpatented lode mining claims (the “Properties”)
Upfront Cash (i) US$25,000 on October 30, 2020 (the “Effective Date”)
US$5,000,000
Consideration: (ii) US$25,000 on or before the date 6 months after the Effective Date
Lease
(iii) US$50,000 on or before the 1st anniversary of the Effective Date
Payments:
Share (iv) US$75,000 on or before the 2nd anniversary of the Effective Date
19.9% of the post-RTO shares outstanding
Waterton (v) US$100,000 on or before the 3rd anniversary of the Effective Date
Consideration:
(i) Milestone payment of US$2.5M cash paid on the earlier of an updated Option Exercise US$2,000,000 shall be paid to Red Canyon on or before the 4th anniversary of the
resource estimate and 12 months following the earlier of (i) the date on Payment: Effective Date
which the first material permit is obtained and (ii) the date which any
exploration drilling activities are conducted under the Wildcat Permit Production Millennial shall grant to Red Canyon a 2.0% net smelter returns royalty on
Milestone Royalty: production from the Properties
(ii) Milestone payment of US$2.5M cash paid on the earlier of the date a
Payments:
Preliminary Economic Assessment (or “PEA”) is published and 24 months
following the earlier of (i) the date which the first material permit is (i) Number of common shares such that Red Canyon will own 2.0% of the
obtained and (ii) the date which any exploration drilling activities are outstanding common shares of the Company upon closing the RTO
Share
conducted under the Wildcat Permit (ii) 1,000,000 common shares on the 1st anniversary of the Effective Date
Payments:
(iii) 1,000,000 common shares on the 2nd anniversary of the Effective Date
Net Smelter (iv) 1,000,000 common shares on the 3rd anniversary of the Effective Date
(i) 2.0% net smelter return royalties on Dune, Eden, Marr & Ocelot properties
Return
(ii) 0.5% net smelter return royalties on Mountain View & Wildcat properties (i) A minimum of US$500,000 on or before to the 2nd anniversary of the Effective
Royalties:
Date
Work (ii) A minimum of US$500,000 on or before the 3rd anniversary of the Effective
Waterton has the right to appoint one nominee to the board of directors of the Commitment:
Investor Date
Company and has registration rights and right to maintain pro rata ownership
Rights: (iii) A minimum of US$500,000 on or before the 4th anniversary of the Effective
(>10% ownership required) pursuant to an investor rights agreement
Date
FOCUSED ON GROWTH THROUGH AGGRESSIVE EXPLORATION
MILLENNIAL
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