1. business and industrial
2. energy
3. coal

CORPORATE PRESENTATION
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FORWARD LOOKING INFORMATION
This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on
the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forwardlooking information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions.
The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements
can generally be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use
terminology such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”,
“could”, “continues”, “estimate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof. By their
nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could
cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements
that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks
or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company’s actual financial condition or results
of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected. Any forward-looking
information or statements in this presentation speak only as at the date of this presentation. The Company does not intend, and expressly
disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including
forward looking information and statements, whether to reflect changes in the Company’s expectations with regard thereto or as a result of new
information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based. Given the
aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements.
Note on Technical Disclosure
Mr. Jason K. Dunning, M.Sc., FSEG, P.Geo. is a qualified person as defined by National Instrument 43-101, who has supervised the preparation
of the scientific and technical information that forms the basis for the disclosure with respect to the results of exploration on the Company’s
projects, as contained on this website. Mr. Dunning is an independent, professional consultant for Headframe Geoscience based in Toronto,
Ontario, Canada.
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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OUR HISTORY, Our mission
OUR HISTORY
1927
Callinan Mines, founded by Jack Callinan
in 1927, has had a major presence in
the Flin Flon mining district in Manitoba,
Canada
2004
777 VMS Mine, discovered on Callinan
claims, commences production and
royalty payments begin
2011
Callinan Mines split in two entities:
Callinan Royalties and Callinex, which
holds the exploration portfolio today
2014
Callinex renews focus on VMS deposits
in Manitoba
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OUR MISSION
To drive shareholder value by discovering
economic VMS deposits in Manitoba
CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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CORPORATE OVERVIEW
TSX-V: CNX I OTCQX: CLLXF
RECENT TRADING
CAPITAL STR UCTURE
ENTERPRISE VALUE
Closing Price
Shares Outstanding
$0.25
32 Million
Market Cap
8.0 Million
52-Week Range
Options Outstanding
Debt
$0.17 - $0.66
2.97 Million
$0
Average Daily Volume (3 - mo)
Warrants Outstanding
Cash
17,013
10 Million
$1.15 Million
(11/19/2014)
($0.22 VWAP)
As of 6/30/2014 (unaudited)
All information as of 11/19/2014 unless otherwise stated
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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MANAGEMENT TEAM
Mike Muzylowski
Max Porterfield
Nico Civelli
Rebecca Moriarty
Chairman
CEO, President and Director
VP Finance and director
Chief financial officer
A
renowned
geologist
and
member of the Canadian Mining
Hall of Fame with over 50 years
of experience which has included
the discovery and development
of 16 mineral deposits through to
production
Over eight years of experience in
natural resources and financial
markets, previously with Brazil
Resources Inc., Uranium Energy
Corp. and US Global Investors
An independent financial advisor
specializing in natural resources,
and the VP of Finance for Pacific
LNG which recently sold to Oil
Search Ltd. for $900 million USD
A Chartered Accountant with over
14 years of experience related to
the mining industry, previously with
PwC providing corporate finance,
strategic planning and regulatory
compliance services
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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directors And advisory board
DIRECTORS
ADVISORY BOARD
Peter Schriber
Carlo Civelli
A Co-Founder of PI Financial, Mr. Schriber is an independent financial
consultant with an extensive history in merchant and commercial banking,
specializing in corporate finance
Michael Louie
A Principal in D+H Group LLP with 25 years of accounting experience,
specifically working on behalf of First Nations organizations and
specializing within the Canadian mining sector
Keith Minty
An experienced mining engineer currently serving as President and
CEO of Hunter Bay Minerals Plc. and a Director of Auryn Resources
Inc., previously the Chief Operating Officer of Thani Emirates Resource
Holdings Ltd.
Since founding Clarion Finanz AG in 1980, Mr. Civelli has been
instrumental in funding early stage investments, nearly a dozen of which
have developed into billion dollar market cap companies
Jason Dunning
Over 20 years experience in base and precious metal exploration,
currently serving as the Manager of Nystar’s Mining Group, one of the
world’s largest zinc producers, and previously a Project Geologist with
Hudbay focused on the Flin Flon area
Steve Swatton
Over 28 years of experience in both technical and senior managerial
experience, currently the Chief Executive Officer and President of Brazil
Resources Inc., previously the Global Head of Business Development for
BHP Billiton’s Exploration Division
Jayant Bhandari
A Senior Analyst of Anarcho Capital, distinguished speaker and published
author, Mr. Bhandari advises institutional investors about opportunities in
the natural resources sector on a global scale
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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our chairman
TRACK RECORD
Played a lead role in the discovery
and/or development of 16 mines
including Trout Lake, Hycroft and
New Afton
ACCOLADES
Inducted to Canadian Mining Hall of
Fame and recipient of the Developer
of the Year award by PDAC
PREVIOUS SUCCESS
Built numerous mining companies,
notably Callinan Mines, Granges and
Hycroft Resources
TRAILBLAZER
Among the first to access capital
in foreign financial centers and
implement geophysics in mineral
exploration
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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WHY MANITOBA
MANAGEMENT EXPERIENCE
Over 50 years of experience and 13
mines discovered in Manitoba
MINERAL ENDOWMENT
Rich history of development with 67
mines since 1913
INFRASTRUCTURE
Projects located nearby current mining
operations with road and power access
WORLD CLASS JURISDICTION
Ranked 10th globally for best mining
practices2 including cash subsidies of
up to $200,000 per year for approved
exploration expenditures
Source: Mines of Manitoba (2009)
1
Source: Fraser Institute: Survey of Mining Companies (2013)
2
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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VOLCANOGENIC MASSIVE SULPHIDE DEPOSITS
HIGH GRADE
Polymetallic deposits containing Copper,
Zinc, Lead, Gold and Silver
FORMATION
Deposits occur where mineral rich,
superheated water is brought to the surface
by volcanic activity
DISTRICT SCALE
Most VMS deposits occur in clusters that
define major mining districts, such as Flin
Flon
PREVALENCE
350 deposits and major VMS occurrences in
Canada; Manitoba hosts the second largest
number of deposits in the nation1
Source: 1 Mineral Deposits of Canada, Volcanogenic Massive
Sulphide Deposits
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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FLIN FLON MINING DISTRICT
SUCCESS RATE
INFRASTRUCTURE
TIMELINES AND CAPEX
Continuous mining since the 1920’s with
the discovery of over 50 VMS deposits,
leading to the development of 32 mines
Over $1.6 billion invested towards mine
development with road, rail, power and
water infrastructure to facilitate quick
development of new discoveries
Typically less than six years from
discovery to development with
reduced capital expenditures
DEPTH OF MINES
CLUSTER EFFECT
Initial Production
1916
1930
1948
1955
1955
1982
1990
2004
2013
Average Depth (m)
0
-300
-600
Mandy Flin Flon
Cuprus Don
Jon
North
Star
Callinan
-900
Lalor
-1200
Trout Lake
777
Flin Flon (80 Mt)
Snow Lake (40 Mt)
-1500
Recent discoveries have been larger in size and deeper than
previously found
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
Clusters of VMS deposits make up the Flin Flon/Snow
Lake mining districts in the Flin Flon Greenstone Belt
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FLIN FLON MINING DISTRICT
LEGEND
Mine Site
Callinex Deposit
Powerline
Highway
Rail
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Callinex Claims
Hudbay Mineral Claims
Currently Staked Area
CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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FLIN FLON PROJECT
777 Mine
777
Mine
N
OWNERSHIP
100% control subject to 1% NSR
INFRASTRUCTURE
Flin Flon Project
Located within 5km via highway
to the Flin Flon concentrator
ITS
PROSPECTIVITY
LEGEND
DE
PO
S
Mine Site
Callinex Deposit
Powerline
Highway
Rail
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Callinex Claims
Hudbay Minerals Claim
Currently Staked Area
A
10 K M R
CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
-1
S
DIU
0
S
M
V
Strategic land position with limited
historic drilling surrounded by
Hudbay claims
GEOPHYSICAL SURVEY
2012 airbourne survey identified
several prospective geophysical
targets
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FLIN FLON Target
TOTAL MAGNETIC INTENSITY
COVERING CALLINEX AND HUDBAY CLAIMS
Potential for significant massive sulphide deposit
Untested 350m x 400m coincident EM/magnetic
anomaly adjacent to fault and intrusives
Callinex
Hudbay
Significant conceptual thickness based
independent geophysical interpretation
on
ELECTROMAGNETIC STACKED PROFILES FOR Z COMPONENT
2012 VTEM identified five additional
priority targets
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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PINE BAY PROJECT
OWNERSHIP
100% owned subject to 1% NSR
INFRASTRUCTURE
Located within 30km via highway to the
Flin Flon concentrator
PROSPECTIVITY
Recently consolidated land position that
hosts four historic mines
HISTORIC RESOURCES
1.6 million tons of 2.81% copper
equivalent
LEGEND
LEGEND
Mine
MineSite
Site/ Historic Mine Site
Powerline
Callinex Deposit
Highway
Powerline
Rail
Highway
Callinex Claims
Rail
Hudbay
CallinexMinerals
Claims Claim
Currently
Hudbay Staked
MineralsArea
Claim
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Currently Staked Area
CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
* Historic resource estimates on the property total 1.62 Mt
at a grade of 2.81% copper equivalent for the Pine Bay,
Cabin, Baker Patton and Sourdough deposits are based
on data and reports prepared by the previous operators:
Wright Engineers in 1970, Pine Bay Mines in 1976,
McMillan in 1968 and Keys in 1963. The company has
not completed the work necessary to have the historical
estimate verified by a QP. The company is not treating
the estimate as a current 43-101 defined resource and
the historical estimate should not be relied upon. The
property will require future exploration.
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PINE BAY - Current opportunities
N
Recently consolidated land package hosting several
targets and VMS deposits
LEGEND
Mine Site
Callinex Deposit
Callinex Claims
Lack of systematic exploration on the property with few
drill holes completed since 1988
Placer Dome identified potential for a large deposit at
depth on the Pine Bay claim block (see yellow outline)
PLACER DOME
CAMECO
HUDBAY
Callinex is modernizing historic data, but has already
identified several untested drill targets including a 210m
alteration zone at a depth of 720m
NEWMONT
PLACER DOME
0
Historic drilling at the border with Hudbay includes
intercepts visually estimated at:
14.7 m of 3.1% Cu Eq
11.1 m of 3.3% Cu Eq
8.7 m of 5.2% Cu Eq
2
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KILOMETRES
Left: Historic owners/operators of claim blocks comprising Pine Bay Project
(excluding Hudbay claims)
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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HUDBAY'S MANITOBA OPERATIONS
MINE DEPLETION
The Flin Flon concentrator requires additional ore within 4 - 5
years:
- 777 Mine to be exhausted by 2020
- Reed Lake Mine to be exhausted 2019
EXPLORATION FOCUS
$15 million 2014 exploration budget is focused on expanding
“The key elements of our plan are to
acquire VMS and porphyry exploration
and development properties that are
located in mining-friendly jurisdictions
in the Americas and have exploration
upside potential”
existing deposits, leaving little room for new internal discoveries
REED LAKE MINE
Hudbay acquired the small high grade VMS deposit in
exchange for a 30% carried interest to the vendor. Reed Lake
David Garofalo
President and CEO
Letter to Shareholders, May 8, 2014
ore is hauled more than 100 km to the Flin Flon concentrator
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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DEEPER EXPLORATION PORTFOLIO
PROJECT
GEOGRAPHY
INFRASTRUCTURE
TOTAL ACREAGE
MINERAL
Island Lake
Manitoba/Ontario Border
Winter Road or Helicopter
5,306
Au
Coles Creek
Near Smithers, British Columbia
Helicopter
12,552
Cu-Ag-Mo
Neuron
SW of Thompson, Manitoba
Helicopter
73,000
C
Keputch
Central Saskatchewan
Helicopter
73
Cu-Zn-Pb
Cedar
Near Flin Flon, Manitoba
Paved Road
352
Cu-Zn-Pb
Gossan/Gurney/Rug
Near Flin Flon, Manitoba
Railway
7,444
Au
Sneath Lake
Snow Lake area, Manitoba
Paved Road
1,431
Cu-Zn-Pb
Kobar
Snow Lake area, Manitoba
Helicopter
453
Cu-Zn-Pb
Cook Lake
Snow Lake area, Manitoba
Helicopter
16
Cu-Zn-Pb
Herblet Lake
Snow Lake area, Manitoba
Paved Road
2,441
Cu-Zn-Pb
Norris Lake
Snow Lake area, Manitoba
Logging Road
1,950
Ni-Cu
Pulver Lake
Snow Lake area, Manitoba
Helicopter
5,552
Cu-Zn-Pb
Tramping Lake
Snow Lake area, Manitoba
Logging Road
1,228
Cu-Zn-Pb
Moak
Near Thompson, Manitoba
Gravel road
429
Ni-Cu
Pine/Setting
Near Thompson, Manitoba
Paved Road
1,612
Cu-Zn-Pb
Fox River
Near Gillam, Manitoba
Helicopter
3,792
Ni-Cu
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INVESTMENT SUMMARY
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STRONG TEAM
TIGHT CAPITAL STRUCTURE
PROJECT PORTFOLIO
Well positioned to access
capital markets and discover
economic VMS deposits
Supportive North American
and European shareholder
base with a longterm outlook
Exploration projects located
within Manitoba’s prolific
mining camps
CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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CONTACT INFORMATION
604.605.0885
[email protected]
www.callinex.ca
Corporate Head Office
1110 - 555 West Hastings Street
Vancouver, BC Canada V6B 4N4
President, CEO and Director:
Max Porterfield
Corporate Counsel:
Northwest Law Group
Auditors:
Davidson & Company LLP
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CA L L I N E X C O R P O R AT E P R E S E N TAT I O N
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