INVESTOR PRESENTATION May 2017 Disclosure These presentation slides - - PowerPoint PPT Presentation

INVESTOR PRESENTATION May 2017

Disclosure

These presentation slides (the “Slides”) do not comprise a prospectus or other form of offering document relating to Tethyan Resources plc. (“the Company”), and do not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any other company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities of the Company or any other company. Your attention is drawn to the risk factors set out below. This presentation may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, and other related matters. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. The Company’s current projects in Serbia are at an early stage and all estimates and projections are based on limited, and possibly incomplete data. More work is required before geological and economic aspects can be confidently modelled. Actual results may differ materially from those currently anticipated in this presentation. No representation or prediction is intended as to the results of future work, nor can there be any guarantee that estimates and projections herein will be sustained in future work or that the Project will otherwise prove to be economic. The Slides and their contents are directed only at persons who fall within the exemptions from applicable securities laws and persons to whom distribution may otherwise lawfully be made. Any investments, investment activity or controlled activity to which the Slides relate is available only to such persons and will be engaged in

• nly with such persons. Peter Mullens Fellow AUSIMM. is a qualified person and has reviewed the technical

information contained herein.

2

Company Overview

Tethyan is a Project Developer with a focus on gold and copper in the Balkan region of the great Tethyan Metallogenic Belt

• Attention to delivering shareholder value
• Clear and defined strategy
• Agile and experienced Management team
• Proven track record
• Focus on the Balkan region of the Western Tethyan belt
• Consolidating its ‘Raska’ licence
• Historic mining area
• Drilling at potential new targets at Suva Ruda and Gokcanica projects
• Potential for major porphyry copper-gold at Suva Ruda
• Developing a portfolio of projects up the value curve

Current corporate structure Ordinary Shares in issue 168,182,052 Shares not in public hands 70,433,336 (41.88%) Total Directors Holding 11.97 % Warrants in issue 105,560 at 3.48p & 2,341,500 at C$0.036 Options 7,700,000 at 5p & 3,400,000 at 2.4p Current Market Cap £7.5 million (at 4.5p) Cash Position £1.44 m (April 30, 2017)

4

Corporate Structure & Financials

Major Shareholders % Southern Arc Minerals 29.91% Pat DiCapo 5.4% Frank Brewer 5.3% Peter Mullens (CEO) 5.1% Khuanchai Siphakanlaya 4.0% Alan Fairless 3.0% Didier Fohlen (ED) 3.0 %

Share Price Graph 12 month period

Source: LSE

5

Strategy

• Market: Use recent downturn in commodities markets to discover or acquire a quality portfolio of

exploration projects which can be quickly moved to development stage

• Team: Established an efficient and capable local team with wide-ranging expertise to progress our projects.
• Projects: The Balkan region is emerging as a highly prospective yet underexplored area for copper – gold
• deposits. Tethyan has acquired projects with known mineralisation in proven mining districts in order to fast-

track to drilling and exploration success

• Pipeline: Tethyan is actively reviewing new targets and intends to stake or acquire permits over promising

mineralised systems in Serbia and the Balkan region (Bulgaria, Kosovo, Macedonia)

• Corporate Restructuring: Rolled-back the company’s stock and planned listing on the TSX-V for better

access to North American exploration and mining market

Why the project developer model works

Company Country Project Share Price on Drilling or Acquisition Share Price High, Buyout Acquirer

Andean Resources Argentina Cerro Negro (gold) 2 cents CAD $ 3.6 billion Goldcorp Exeter Resources Argentina Cerro Moro (gold) 50 cents CAD $ 8.80 Yamana Bear Creek Mining Peru Corani (silver) 50 cents CAD $ 8.69

• Antares Minerals

Peru Haquira (copper) 20 cents CAD $ 460 million First Quantum Monterico Metals Peru Rio Blanco (copper-moly) 20 pence £150 million Zijin Group Aurelian Resources Ecuador Fruta Del Norte (gold) 50 cents CAD $ 1.2 billion Kinross

6

Management and the Board have experience in delivering excellent returns for shareholders.

Company Country Project Share Price on Drilling or Acquisition Share Price High, Buyout Acquirer

Lydian International Armenia Amulsar (gold) 40 cents CAD $ 2.95

• Laramide Resources

Australia Westmoreland (uranium) 7 cents CAD $ 15.79

• Aquiline Resources

Argentina Navidad (silver) 20 cents CAD $ 626 million Pan American

Real value is made by owning a major stake in a discovery.

Western Tethyan Mineral Belt

Tethyan belt extends over 10,000km from Asia to the Balkans and is comparable to the Andes and Western US & Canada yet significantly less explored

• Cretaceous and Tertiary age porphyry

& epithermal copper, gold & base- metal belts

• Number of world-class districts:
• Chelopech/Elatsite region - Bulgaria
• Bor/Timok region – Serbia
• Trepca region – Serbia & Kosovo
• Rosia Montana – Romania
• Under explored with modern

geophysics and geochemistry, particularly for gold

7

Serbia – A Welcoming Mining Jurisdiction

• Favourable business jurisdiction
• An EU candidate with political stability
• Excellent infrastructure
• in-country expertise
• low-cost operating environment
• Young population and low employment levels
• Favourable regulations and strong mining and tax laws:
• 15% corporate tax
• 5% net smelter royalty
• 100% foreign ownership and repatriation of profits
• Other active companies:
• Freeport McMoran
• Rio Tinto
• Dundee Precious Metals

8

A rare combination: stable government, pro-mining, low tax, good geology and under explored

The Development Projects

Two promising exploration licenses situated in a well known historic mining district:

Suva Ruda Project:

• Tethyan holds a 7 year potion to buy 100%
• Potential for major porphyry copper-gold project at Rudnitza
• Tethyan recently drilled in winter of 2016:
• 567 m @ 0.28% copper & 0.45 g/t gold (RDD-001)

Includes 30 m @ 1.45 % copper & 0.4 gold (oxide)

Acquired 197km2 in Emerging Porphyry- Epithermal Belt

Gokcanica Permits 110 km2 Suva Ruda Permit 87 km2

Rudnitza Porphyry 1

Raska District

Gokcanica Project:

• Very large altered and mineralised system (7km x

3km), believed to host porphyry potential

Suva Ruda Project – Rudnitza Porphyry

1 1

Rudnitza Copper-Gold Porphyry Possible Double headed porphyry with major system at depth.

Southern porphyry zone

• Tethyan drilled 567 m at 0.28% copper and 0.45 g/t

gold (includes 30 m @ 1.45 % copper & 0.4 gold) Northern porphyry zone

• New geochemical anomaly 700 m by 400m extends

to the north

• Never drill tested
• Total alteration system 1500 m by 500 m defined by

Au (20 + ppb) in soil sampling. With two zones of + 100 ppb Au

12

Gold Equivalent Calculations

Hole ID From (m) Length (m) Cu (%) Gold (g/t) Gold Equivalent (g/t) RDD-001 567 0.28 0.45 0.89 RDD-002 96 224 0.24 0.27 0.65 RDD-003 42 291 0.31 0.32 0.81 RDD-004 428 0.34 0.27 0.81

Table below is to display the Rudnitza copper-gold porphyry drilling results in ‘gold terms’:

Notes on calculations: 10m min comp length. 10m internal waste max, 0.3 trigger value AuEq Au $ 1200 per ounce Gold equiv Cu % * 1.57 Cu $ 2.75 lb

13

• ASTER satellite imagery analysis has

identified a number of new targets on the Suva Ruda license in addition to the Rudnitza porphyry

• In particular the Kremic zone in the

north of the license which is a site of historic mining with reported high-grade copper mineralisation

• This area has never been explored in

‘modern’ times and will be a focus of Tethyan’s exploration in 2017

Consolidating the Raska District – Suva Ruda

Tethyan has entered into a joint venture over the Gokcanica permits

Site of Roman & French silver mine, rock samples up to 0.7 g/t gold & 189 g/t silver High-grade gold structure, up to 11 g/t gold in rock sampling Previous drilling hit 12.4 m @ 1.5% Cu, 1.4% Pb, 0.8% Zn, 62 g/t Ag, 1.6g/t Au

• Porphyry-epithermal target

situated 15km north of Rudnitza

• Roman workings on epithermal

gold and silver targets

• Deal
• Spend $500k by 9th May

2018 to earn 51%

• Complete PEA for 70%
• Complete Feasibility

study for 80%

• JV partner fund or dilute

to 1.5% NSR capped at $5 million

Consolidating the Raska District - Gokcanica

Recent stream sediment sampling by Tethyan has defined a significant gold anomaly.

• Geophysics and first drill

programme planned in 2017

14

Raska District – Favourable Location

Located in a favourable region for Infrastructure

• Located in a region of historical mining
• Large, pro-mining local work force
• Local water source
• Grid electricity
• Railway line to Adriatic Coast
• Main porphyry zone on hill 200 meters

above surrounding ground; therefore potential low pre-mining strip

• Potential large reduction in Capital cost

due to infrastructure

15

Suva Ruda & Gokcanica Projects

Investment Case

Investment Case

• Management has a proven track record of delivering shareholder value
• They are an experienced and nimble team
• Project Developer focused on acquiring and developing projects and moving projects up

the value curve

• Portfolio approach – Consolidating ‘Raska’ flagship area
• Known mining district
• Have potential flagship development project Suva Ruda
• Continuous news flow in 2017
• Exploring in the Balkan region of the Western Tethyan Mineral belt
• Focused on Serbia – a significant historic mining district
• Defined strategy to create and develop shareholder value

“Peers” with Porphyry Cu-Au Projects

18

Goal for Tethyan to be re-rated higher price (Current mark cap $ CAD 11 m).

Company Contact Details

For further information please contact –

19

Tethyan Resources plc info@tethyan-resources.com Cairn Financial Advisors LLP (Nomad) 020 7213 0880 Blytheweigh (Financial PR) 020 7138 3204 SP Angel (Broker) 020 3470 0470

Appendix

Board of Directors

Christopher Goss (Non-Executive Chairman)

Christopher, a minerals economist, has worked for the IFC (International Finance Corporation), the private sector arm of the World Bank Group, as Leader in Project Finance in Emerging Markets from 2006 -2010. Prior to that he led IFC mining transactions in Africa, Russia, Central Asia and Latin America. Earlier in his career, Chris was with the Commonwealth Secretariat, advising African governments in natural resource policy and negotiations in Ghana, Tanzania, Mozambique and Swaziland.

Dr Mike Andrews (Non-Executive Director)

Mike holds a BSc (Hons) Geology from the University of Reading, and a PhD in exploration geochemistry from the University of

• Wales. He played an instrumental role in the discovery,

exploration, feasibility and development of the Way Linggo Gold Mine in Indonesia. Previously he has held senior roles at AuIron Energy Ltd., Meekatharra Minerals Ltd. and managed the Teck- MM Gold Indonesian Joint Venture. Mike is currently President & COO of Southern Arc Minerals, President & COO of Japan Gold and a Director of Q Investments.

.

21

John Proust (Non-Executive Director)

John received the designation of Chartered Director (C.Dir.) from McMaster University, Directors College, Michael G. DeGroote School of Business. He is the founder and principal shareholder of numerous public and private companies. He has directed, managed and advised public and private companies regarding corporate strategy and structure, debt and equity financing, M&A and corporate restructuring since 1986. He is currently Chairman and CEO of Japan Gold Corp., Chairman and CEO of Southern Arc Minerals Inc., Chairman of Canada Energy Partners Inc., Interim President & CEO and a director of Outrider Energy Corp., and a director of Q Investments Ltd.

Pete Mullens (Chief Executive Officer, Director)

Peter is a geologist with over 30 years’ of extensive mining and exploration industry experience. He has successfully helped to develop four Canadian-listed exploration companies and is credited with the discovery drill hole of Pico Machay in Peru and the acquisition of Navidad (700Moz silver), Calcatreu in Argentina (1Moz gold-silver) and Westmoreland in Australia (50Mlb’s uranium). He is also a Non-Executive Chairman of Royal Road Minerals Ltd (TSXV:RYR).

Gokhan Kantarcigil (Non-Executive Director)

Gokhan has over 15 years’ experience in the mining and engineering industry. He is CEO and founder of Turkish mining and exploration company VTG Holdings. Previously Gokhan was involved in the discovery, construction and production of the Brummersheim coal project in South Africa which is currently producing in excess of 1mt of export quality thermal coal per

• year. He currently trades gold and invests into gold exploration

projects.

Didier Fohlen (Executive Director)

Didier has an engineering degree from the School of Geology and Mines of Nancy. He has 35-yrs experience in exploration, mining

• perations and mine closure, with a focus on investment in

emerging markets, corporate social responsibility and environmental management. This included 15-yrs in the World Bank Group/IFC mining group working in Europe, Africa, Middle East and Russia.

Fabian Baker (Chief Operating Officer)

Fabian has a BSc in Applied Geology from the Cambourne School of Mines and is currently completing an executive Mscin Economic Geology with the University of Tasmania. He has experience in grassroots exploration through to completion of Bankable Feasibility in frontier and developing countries. Previous roles include Chief Geologist at Lydian International’s newly discovered Amulsar gold deposit and Exploration Manager for Tigris Resources (now Royal Road Minerals), focused on a new gold and copper district in SE Turkey. In his capacity as COO the management of exploration in Serbia and neighbouring countries is managed by Fabian, who was responsible for identifying the opportunities that lead to Tethyan Resource’s entry into the region.

Management

22

Nickola Savic (Regional Manager - Balkans)

Nick is a Serbian national who qualified as a geologist in the late 70’s, following which he emigrated to Western Australia where he worked for a number of major companies for 20

• years. Nick was tasked by Dundee Precious Metals in the

early 2000’s to establish Dundee Precious Metals in Bulgaria and Serbia where Nick remained as Country Manager for a number of years. More recently Nick managed the country entry for First Quantum Minerals into Serbia. Nick has unparalleled exploration and related administrative experience in the Balkans region and is assisting and advising Tethyan on all local administrative aspects in Serbia and Bulgaria.

Nikolay Petrov (Generative Exploration Geologist)

Nikolay has a PhD in Structural Geology & Tectonics and MSc Structural Geology from the University of Sofia (Bulgaria). Nikolay has more than 15 years experience working for a variety of international exploration and mining companies with a focus on the Tethyan Belt. Nikolay began his career in the Bulgarian Geological Survey and most recently worked as Generative Geologist and District Geologist – Balkans for First Quantum Minerals where Nikolay was responsible for leading the team to identifying new opportunities throughout the Tethyan Belt from Iran to Romania.

Martyn Keates (Chief Financial Officer)

Martyn is a qualified Chartered Accountant (ICAEW) and a Member of the IoD with over 30 years experience. He has held senior finance roles in both global public companies and privately owned businesses in various sectors ranging from manufacturing to consultancy and medical devices to an

• nline niche marketing group. Whilst working for pan-

European companies he implemented processes which avoided $3 million in fines and penalties and also detected Corporate fraud by senior executives.