2. This document contains certain forward-looking information. This forward-looking information includes, or may be based upon, estimates,
forecasts, and statements as to management’s expectations with respect to, among other things, the size and quality of the Company’s
mineral resources, progress in development of mineral properties, timing and cost for placing the Company’s mineral projects into production,
costs of production, amount and quality of metal products recoverable from the Company’s mineral resources, demand and market outlook for
metals and coal and future metal and coal prices. Forward-looking information is based on the opinions and estimates of management at the
date the information is given, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking information. These factors include the inherent risks involved in the exploration
and development of mineral properties, uncertainties with respect to the receipt or timing of required permits and regulatory approvals, the
uncertainties involved in interpreting drilling results and other geological data, fluctuating metal and coal prices, the possibility of project cost
overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future,
uncertainties related to metal recoveries and other factors. Mineral resources that are not mineral reserves do not have demonstrated
economic viability. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them
that would enable them to be categorized as mineral reserves. There is no certainty that mineral resources will be converted into mineral
reserves. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts,
projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained
herein is made as of the date hereof and the Company assumes no responsibility to update them or revise it to reflect new events or
circumstances, except as required by law.
CautionaryStatementregarding the preliminaryeconomic assessment of the Revenue Silver Mine(“RSM”)
This presentation includes a preliminary ("PEA") with respect to the RSM. The PEA is preliminary in nature and includes inferred mineral
resources that are considered too speculative geologically to have the econeconomic assessment omic considerations applied to them that
would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The PEA is based on the
Company's assessment of the mineral resources at the RSM and the RSM's production infrastructure and is subject to the qualifications and
assumptions contained in this presentation, including without limitation the assumptions contained under the heading “Financial Model
Assumptions" and the qualifications contained under the heading "Forward-Looking Information”
2
3. Corporate Information
Listings: TSX (Canada): FT
OTC QX (USA): FTMDF
Share Price $0.35
Shares Out – Basic 188.2
Shares Out – Fully Diluted 197.6
Market Cap – Basic $65.9
Working Capital (Q1 2014) $7.4
Total Assets (Q1 2014) $113.3
All amounts in M or CAD$M except per share amounts.
Share Performance
Analyst Coverage
Dealer Date Rating Target
Killian Charles
Industrial Alliance Securities
June 28, 2013 Spec Buy $3.30
David Davidson
Paradigm Capital
May 13, 2014 Spec Buy $1.25
Michael Fowler
Loewen Ondaatje McCutcheon
May 12, 2014 Spec Buy $2.65
Ownership
Procon Resources Inc. 19%
Directors & Officers 5%
Insiders total (includes Procon) 24%
As of May 21, 2014
3
SharePrice(C$)
TradingVolume(M)
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
$0.00
$0.05
$0.10
$0.15
$0.20
$0.25
$0.30
$0.35
$0.40
$0.45
$0.50
May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14
Daily Volume
Closing Price
5. Significant deposit of gold, cobalt & bismuth co-products & by-
product copper
Positioned to be one of the largest & lowest cost suppliers of
cobalt sulphate to the rapidly expanding battery sector
Very advanced project with $110 million already invested –
Including pilot plants & test mining
EA’s completed in NT & SK
2014 updated positive Feasibility Study based on vertically
integrated mine & mill in Northwest Territories & refinery in
Saskatchewan
Attractive economics – Pre-tax NPV of $254 million* & IRR
15.6% - Highly leveraged to increases in cobalt & gold prices
with low downside risk
Cycle metal pricing sensitivity analysis indicates potential
levered pre-tax 7% NPV of $543 million
Negative cash cost – Cobalt cash cost (net of credits) of
negative US$5.19/lb
Planned production in 2017 , subject to project financing -
Negotiations underway
Test mining 2006/2007
*Levered base case: pre-tax, 7% discount rate
5
6. June 27, 2013 - Strategic (19.4%) investment of C$11.7 million by Procon Resources Inc. (Procon)
Procon is controlled subsidiary of China CAMCE Engineering Co., Ltd.
Procon acquired interest in Fortune as 1st stage investment for proposed project financing to develop NICO
project
Long-term strategic & financial partner to help advance NICO project
Providedfinancing inchallenging capital market – Validates Fortuneas companywithhigh growthpotential
Financing overview:
CAMCE/Procon anticipated to contribute equity & debt guarantee with Chinese bank
Right to conduct mining contracting & construction services to project on commercially competitive
terms
CAMCE/Procon has one seat on Fortune’s board of directors
6
8. 8
$363
$410
$445
$604
$697
$873 $873
$1,211
$1,574
$1,669
$1,398
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
10-Yr Historical Gold Price
Source: Bloomberg, Consensus Economics Inc.
Gold price increased in the past decade
While mine supply remains relatively flat,
future demand continues to grow:
Growing physical demand from Asia &
central banks
Investment demand based on
currency protection & safe haven
status
Flexible financing opportunities
Significant counter-cyclical metal hedge
NICO contains 1.1 million ounces of gold
9. Wide chemical & metallurgical market
applications in batteries, high strength alloys,
cutting tools, magnets, catalysts & pigments
High purity cobalt is used in aerospace
applications
Cobalt sulphate & oxide used in lithium ion &
nickel metal hydride batteries for electronic
devices & hybrid/electric vehicles
Chemical applications accounted for 58% of
worldwide cobalt demand in 2013 & expected
to dominate future cobalt consumption
Over past decade, demand growth was
primarily from use in chemical applications,
particularly rechargeable batteries & catalysts
Cobalt demand expected to grow at ~7% per
year in the next five years
42%
19%
9%
9%
7%
4% 3% 7%
Cobalt Consumption by End Use
2013
Battery Chemicals
(42%)
Superalloys (19%)
Hard Materials (9%)
Catalysts (9%)
Ceramics / Pigments
(7%)
9
14. Traditionaluses inlowtemperature &fusiblealloys,cosmetics,chemicals, fireretardants &sprinklersystems
Newmarkets focusonnon-toxic,environmentally safereplacement forleadinplumbing &electronicsolders,
brass,steel&aluminum, ceramicglazes, hot dipgalvanizing, pigments &automotiveanti-corrosioncoatings&
windshieldfrits:
Globalframeworkto eliminate leadexpected to driveincreasedbismuth consumption
European(REACH)legislation toeliminate lead inelectronics
Growing Number of Applications
Source: USGS Industry Survey
14
15. 240,000
45,360 39,000
11,000 10,000 10,000 5,000
48,661
China Vietnam Other
Countries
Peru Mexico United
States
Canada NICO
World Bismuth Reserves (Tonnes)
Worldmarket ~15,000 tonnes per year
China isthe principal sourceofbismuth(240,000 tonne reserve), accounting for60%ofworldreserves,but 80%of
worldproduction
China closed20%ofits productiondue toenvironmental&mine safety issues– Policiestorestrict exports
NICOcontainsover48,681 tonnes ofbismuth -12%ofglobalreserves&world’slargest deposit
NICOwillbe a reliable NorthAmericanvertically integratedproducer
World’s
largest
deposit
*
*Canada reserves exclude NICO
Source: USGS Industry Survey 2010 & Company market studies
15
80%
8%
6%
3%
1%
1% 1% 0%
0%
0%
China
Peru
Mexico
Japan
Kazakh
Bolivia
Canada
Russia
Roman
Bulgari
World Bismuth Mine Production (MT)
16. NICO Mine & Concentrator - NWT
Largegold-cobalt-bismuth-copperdeposit
160km fromCity ofYellowknife
450km fromrailwayat Hay River
Highconcentrationratiowithflotationto
reduce4,650 tonnes oforeper day to180 wet
tonnesofconcentrate
Allowsshipping to Saskatchewanforlowercost
processing
Saskatchewan Metals Processing
Plant (SMPP)
Hydrometallurgical plant 27 km north of Saskatoon to process concentrate from NICO & other potential feed
sources
Plant will produce gold doré, cobalt sulphate, bismuth ingot, needles & oxide & copper metal precipitate
Low cost power (~5.7 cents kWh), skilled labour pool, 5-year tax holiday & close to reagents & services
16
17. 5,140 Halease in southern NT
Winteraccessroads
All-weatherroadplanned by governments
tohighway (135 km)
Engineering &environmental work
being completed
450kmfromrailwayat Hay Riverfor
transportofconcentratesto SMPP
160kmfromCity ofYellowknife
50kmfromTownofWhati
22kmfromSnareHydro &lowercost
hydropowersupply
Settledlandclaimswith TlichoGovernment
17
18. Underground Mineral Reserves
Tonnes
(Thousands)
Au
(g/t)
Co
(%)
Bi
(%)
Cu
(%)
Proven 282 4.93 0.14 0.27 0.03
Probable 295 5.00 0.07 0.07 0.01
Total 577 4.96 0.10 0.17 0.02
Open Pit Mineral Reserves
Tonnes
(Thousands)
Au
(g/t)
Co
(%)
Bi
(%)
Cu
(%)
Proven 20,453 0.92 0.11 0.15 0.04
Probable 12,047 1.03 0.11 0.13 0.04
Total 32,500 0.96 0.11 0.14 0.04
Combined Mineral Reserves
Tonnes
(Thousands)
Au
(g/t)
Co
(%)
Bi
(%)
Cu
(%)
Proven 20,735 0.97 0.11 0.15 0.04
Probable 12,342 1.13 0.11 0.13 0.04
Total 33,077 1.03 0.11 0.14 0.04
Metal Contained 1.11 Moz 82.3 Mlb 102.1 Mlb 27.2 Mlb
Sums of the combined reserves may not exactly equal sums of the underground and open pit reserves due to rounding error.
18
The mineral reserve estimates were prepared by Eugene Puritch, P.Eng., Fred H. Brown, P.Geo., and James L. Pearson, P.Eng. of P&E, who are the Qualified Persons
responsible for the 2012 FEED mineral reserves as defined by NI 43-101.Procon identified additional high-grade mineral reserves outside of the open pit design from the
2012 P&E mineral resources and have been included into a combined mineral reserve statement. Henry Wulkan,., P.Eng. Manager of Projects for Procon is the Qualified
Person responsible for the additional underground mineral reserves as defined by NI-43-101.
20. PositiveFeasibilityStudy with strong economics
Verticallyintegratedproject consistingofopenpit
&undergroundmine, mill&hydrometallurgical
refinery
Lowcapital costsof$589 million
Negativecashcostnet ofcredits
Significantdetailed engineering reducing risk
Metalrecoveriesverifiedfrompilot plants;
Goldrecoveryrangesfrom56 to85%, withan
average:73.7%
Cobaltrecovery~84%
Bismuthrecovery:72%
Copperrecovery:41%
Feasibility Study Highlights – Base Case
Mine type Open pit with underground in 2nd year
Mining method
Open pit: conventional truck & loader
Underground: blasthole open stoping
Strip Ratio Waste to ore 3.0 : 1
Processing rate 4,650 tonnes of ore/day
Mine life 20 years (potential for additional 3.2)
Processing Processed to high value metal products
Levered pre-tax NPV (7%) $254 million
Levered pre-tax IRR 15.6%
Capital costs $589 million
LOM average revenue/yr $196 million
LOM average operating cost/yr $98 million
Cobalt operating cost (net of
credits)
Negative US$5.03/lb at Base Case
20Base Case Price assumptions are US$1,350/troy ounce (“oz”) for gold, US$16/pound (“lb”) for cobalt (US$19.04/lb in sulphate), US$10.50/lb for bismuth (US$12.64/lb bismuth in average
production of ingot, needles and oxide), and US$2.38/lb for copper at an exchange rate of C$1=US$0.88.
21. NICO willbe reliableCanadian-based producer of strategic metals
Annual Production
Metals Contained
3,560,400 lbs 41,360 oz 3,824,400 lbs 582,500 lbs
% of Revenue 39% 33% 27% 1%
Base Case Price assumptions are US$1,350/troy ounce (“oz”) for gold, US$16/pound (“lb”) for cobalt (US$19.04 cobalt/lb in sulphate), US$10.50/lb for bismuth (US$12.64/lb bismuth in
average production of combined ingot, needles and oxide), and US$2.38/lb for copper at an exchange rate of C$1 = US$ 0.88
21
$76
$63
$55
$2
0
10
20
30
40
50
60
70
80
90
100
Cobalt Sulphate Gold Bismuth Copper
Average Annual Revenues by Metal - Base Case
C$M
23. Progressing through final stagesof permitting process
EnvironmentalAssessmentscompletedformine &SMPP
Mine&millapprovedby FederalMinister&TlichoGovernment
SMPPapprovedby SaskatchewanGovernment
Advanced relationships with Aboriginal groups
Signed Co-operative Relationship Agreement with
Tlicho Government
Initiated Tlicho Participation Agreement Negotiations
Project Financing & Development Options
Deloitte engaged to advise on project financing &
development options targeting project level joint
venture:
Minority equity investment
Off-take relationship
Commitment to arrange debt financing for
construction
23
25. One of the world’s premier, late stage met coal projects – poised to make final steps to production
Jointventure withPOSCO-Committedpartner &leading steel player
Advancedmajormetallurgical coalprojectinWesternCanada
Over$110 millionofworkcompletedover30+ years
Updated FeasibilityStudy withrobusteconomicscompletedOctober 2012
Welladvanced logisticsplan– railto PortofPrince Rupert – allowsforscalableexpansion
BCEnvironmentalAssessmentinprocess&advanced communityplan
NewcorporatepartnershipwithCAMCE/Proconwillaiddevelopment certainty
25
27. Arctos is one of the largest& most advanced Canadian projects of high rank anthracite coal
Highestquality metallurgicalcoalwithveryhigh carbon&energy content
Representsonly1%ofworldcoalreserves
Metallurgicalcoal with diverse applications
MetallurgicalReductants / charge carbon
Ultra-LowVol.PCI
Sinter
Otherproducts:
Filtermedia
Blendcoalwithcokingcoalformaking metallurgical coke
Directcokereplacement
Ureafertilizers,synthetic fuels&plastics
Heating&cookingbriquettes
Pelletizing
Premiumthermal coal
Cement
Foodprocessing
27
28. Arctos will produce ultra low volatile PCI & other unique products that will command price premium
Properties
(adb)
Charge Carbon
Product
PCI
Product
Sinter / Thermal
Product
Fixed Carbon (%) 84.8 82.6 77.5
Ash (%) 8 10 15
Volatiles (%) 6.4 6.5 6.2
Sulphur (%) 0.5 0.5 0.5
Residual Moisture (%) 0.9 0.9 1.1
Total Moisture (%) 1.2 5.0 6.0
HGI 42 40-45 40-45
Energy (Kcal/Kg) 7639 7,423 6,830
Energy (GJ/t) 32.4 31.1 -
Energy (Btu/lb) 13,741 13,352 12,285
Size (mm) 6-35 0-50 0-50
28
29. Steelmakersexpanding PulverizedCoal Injection(PCI)
toreduce costs&improvemargins
PCIreduces amount ofcokein blast furnace
(cokemade fromcokingcoal)
SeabornePCImarket expected togrowat 8%
CAGRto2018
Low-volatilePCItypically pricedat 70%to 80%
ofhigh quality hardcokingcoal
ArctosPCIwillachieve higher pricedue to
highercarbon&ultra-lowvolatilecontent
Source: Macarthur Coal, Peabody
29
Arctos coal will also have diverse usage in other
metallurgical processes
Sinter feed
Can replace 15% - 30% of blast furnace coke
with anthracite
New steel technologies (FINEX / Cokonyx /
HiSmelt)
Growth of electric-arc steel manufacturing
Ferroalloys & other metal processing
Anthracite helps the steel industry manage costs
30. Supply constraints due to declining exports & lack of new supply
China: 547 million tonnes – Net importer since 2004
Vietnam: 44.5 million tonnes – Reducing exports to 5% of production by 2015 to utilize production
domestically
Few new high-quality deposits in mining friendly jurisdictions
0
100
200
300
400
500
600
China Vietnam North Korea* Ukraine Russia Other
Mt
Supply of Anthracite - 2011
Production
Export
Production
Export
China Vietnam North Korea* Ukraine Russia
Export /
Production
0.8% 43.1% 13.2% 27.1% 48.5% 8.5%
Source: Company research, corporate presentations, Wood Mackenzie & U.S. Energy Information Administration
*Production statistics from 2010 data. “Other” includes Spain, South Africa, South Korea, Germany, USA, and United Kingdom.
30
31. China became net coal importer of anthracite in 2004, coking coal in 2007 & all coals in 2009
Source: China Coal Resource Website, Bloomberg
31
$47 $45
$58
$125
$115
$98
$300
$129
$215
$291
$209
$160
-$200
-$100
$0
$100
$200
$300
$400
-200
-100
0
100
200
300
400
500
600
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
HardCokingCoalPrice(US$/t)
NetImports(Mt)
Coal & Anthracite Net Imports by China
Coal Net Imports (Mt)
Anthracite Net Imports (Mt)
Hard Coking Coal Price (US$/t)
32. 32
0
50
100
150
200
250
300
350
2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e 2016e 2017e 2018e
AnnualImport(Mt)
Japan China India South Korea Brazil Europe Others
Source: Wood Mackenzie, Morgan Stanley Research, SNL-MEG, Deloitte
Seaborne metallurgical coal imports from 2005 to 2018e
China’s demand for metallurgical coal expected to grow 83% from 2012 to 2018 representing 24% of
seaborne metallurgical coal market
Urbanization of India, Africa & other emerging markets from 2015 to 2045 could equal China’s demand
growth between 1985 & 2015
Increased requirements for higher quality metallurgical coals to improve steel manufacturing efficiencies &
lower costs will increase demand
China will remain key consumer with growing demand from other emerging markets
33. M&I at 230mt - Small fraction of total global resource
Lost Fox deposit remains open for possible expansion - additional coal seams
Historical Resources include 2bn + tonnes in the Speculative class (1)
Area Measured Indicated M&I Inferred
Lost Fox 107.9 109.5 217.4 91.5
Hobbit-Broatch 13.5 13.5 258.4
Summit 9.6
Lost Fox Extension
Total 107.9 123.0 230.9 359.5
Coal Resources Run-of-Mine Coal Reserves 10% Ash Product Reserves
Measured Indicated Inferred Proven Probable Total Proven Probable
Total
Product
172.4 20.4 12.1 115.0 9.9 124.9 64.4 4.8 69.2
Historical Arctos Global Resources (million tonnes) (1)
Lost Fox Metallurgical Coal Reserves and Resources (million tonnes) (2)
(1) The Arctos Mineral Resource & Mineral Reserve estimates were prepared in 2002, 2005, & 2007, respectively, by Marston & Marston Inc. in compliance with NI 43-101.Richard Marston, P.E.
is the Qualified Person responsible for the estimates. Historical Resources include 2.2 billion tonnes in the Speculative class. The historical resource estimate was developed by Gulf in 1988 and
updated in 2002 by Marston-Golder to reflect changes in the estimation of Inferred Resources under Paper GSC 88-21. The Speculative portion of the resources is not compliant with current
reporting standards. A qualified person has not done the work necessary to classify the historical estimate of Speculative resources as current mineral resources under NI 43-101 and the estimate
should not be relied upon. Speculative Resources were developed based on estimated average coal thickness applied to the projected aerial extent of the coal. Further information regarding the
Arctos Coal Resource & Reserve estimates is available from the Company’s disclosures under the Company’s profile on the SEDAR website at www.sedar.com
(2) The 2012 DFS utilized updated Resource & Reserve estimates for the Lost Fox Deposit, which Edward Minnes, P.E. is the Qualified Person.
33
34. FeasibilityStudy completedOctober2012 basedonrailtransportto port&diesel powersupply
Initial3 Mtpa productionfromLostFoxdeposit openpit mine, washplant &site infrastructure
69.2Mt ofproduct coalreserves– 25+ yearsproduction
Premiumultra-lowvolatile PCIproduct
Lifeofmine average FreeOnBoard(FOB)vessel cashcostC$127.61/tonne (US$121.22/tonne)
Recentoptimizationsinclude connectionto BCelectrical grid-Forecasttosave C$7/tonne
BASE CASE
Ultra-Low Volatile PCI
US$175/tonne (C$1 = US$0.95)
PRE-TAX AFTER TAX
IRR 17.0% 14.7%
NPV (8%) C$615.9 million C$405.8 million
Capital (Years 1-3) C$788.6 million
(includes railway capital)
$0.6
$1.2
$1.9
$2.5
$3.2
$3.8
$-
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$175/t $200/t $225/t $250/t $275/t $300/t
C$B
FOB Price (US$/t)
NPV - Pre-tax at 8%
The 2012 Feasibility Study was prepared by Golder-Marston in compliance with
NI 43-101. Mr. Edward (Ted) Minnes, P.E. is the Qualified Person responsible for the study.
34
35. Railway road bed largely constructed to mine site by BC Government
Project economics supports 150 km brownfield extension from Minaret
Environmental Assessment on railway extension underway as part of mine development
MOU in negotiation with CN to operate railway
Other parties interested in the rail – Dramatic reduction of railway cost to improve project economics
Existing railway right-of-way & road bed
35
36. Railwaypermit approvalrequirements establishedwithBC &FederalGovernments
Permitswillbe completedinparallelwithmine permits– Similartoresourceroad
Newsectionofrailincluded inprojectEnvironmental Assessment
BCGovernmentofficialswillauthorize railbed forArctos’private use
Advancingdiscussionsforthird party financialsupport
Governmentagreesto provisionforcostrecoveryfromthird party users
Potentialthird party usersidentified &discussionsin progressforcostsharing
Railexpertise retained
IncooperationwithCN,AECOMengaged tocomplete engineering work
36
37. Ridley Coal Terminal a world class coal & bulk materials handling facility
Port currently has ~5 Mtpa capacity available
Ice-free, deep water port 30 hours closer to Asia than Port of Vancouver to reduce ocean freight
Capable of handling full Capesize vessels up to 250,000 dwt
16 Mtpa design capacity under expansion to 25 Mtpa – Permitting future expansion up to 60 Mtpa
Opportunities for shared cargos & blending of coals with other metallurgical coal producers
Companies with committed capacity have contacted Fortune to sell their allocations
37
38. 38
What’snew:
Federal&BC GovernmentsharmonizedEAsubstitution process
Schedule,costs&milestonesestablishedwithBC Governmentto better understand permitting completion
timeframe
Ongoingdialogue withBC Governmenttocommunicatestrategies
Railapprovalrequirements establishedwithFederal&ProvincialGovernments
Agreementreached withthe governmentonrailcostrecoveryfromthird party users
Discussions progressing with the Government
EstablishmentofBC MajorInvestment Office– Arctosidentifiedas majorproject
PacificGateway Policyofexpanding trade with Asia
BCGovernmentrevenue sharing withAboriginalgroups
CassiarIskut-StikineLandResourceManagement Plan approved&implementedby BC Government&Tahltan Joint
Councilin 2000 - Identifies Klappan area forcoalmining
42. Early
Exploration Target Testing
MineralResource
Engineering & Economic Studies
Construction
Initial
Production
Mine
Operation
42
ExplorationConcept
ClosureandReclamation
3 – 6 Years 6 – 7 Years
PEA PFS FS
MineralReserve
MINE
0.5 – 2 Years 5 – 25 Years
Arctos
Baseline Field Work & EAC Prep
EAO Review Process
Mine Permitting
Construction
Commissioning & Commercial
Production
Arctos Milestones to Production
Filing of EAC
Docs
Ministerial Decision
Process
43. Revenue Silver Mine acquisition
Fully permitted & constructed producing underground mine ramping up to 400 tons / day
Low cost producer of high grade silver, gold, lead & zinc (1)
See Revenue Silver Mine presentation for details
Two advanced Canadian development assets
One of world’s premier metallurgical coal developments,
significant gold, cobalt & more than 12% of global bismuth
reserves
$220 million combined expenditures
Positive Feasibility Studies, test mined, pilot plant processed
Environmental Assessments completed for NICO Mine & SMPP;
Arctos advanced in EA process
Asian strategic partners to help advance NICO & Arctos projects
Combined NPV of $1 billion (1)
Experienced board & management team
Deloitte engaged to secure additional partners to minimize equity dilution
43
(1) Please see “Cautionary Statement regarding Preliminary Economic Assessment of the RSM”
44. Directors
Mahendra Naik, B Comm, CA Chairman, Director CFO Fundeco - Founding director & former CFO, IAMGOLD
George Doumet, MSc, MBA Honorary Chairman, Director Chemical Engineer – President & CEO, Federal White Cement
Robin Goad, MSc, PGeo President & CEO, Director Geologist - 30 yrs mining & exploration experience
David Knight, BA, LLB Secretary, Director Partner, Norton Rose Fulbright Canada LLP specializing in securities & mining law
James Excell, BASc Director Metallurgical Engineer – 35 yrs mining experience BHP-Billiton
William Breukelman, BASc, MBA, PEng Director Chemical Engineer – Former Chairman, Gedex
James Currie, BSc (Hons), PEng Director Mining Engineer – COO, Elgin Mining
The Honorable Carl L. Clouter Director Commercial pilot - Former owner of charter airline in NWT
Shou Wu (Grant) Chen, MSc, MBA Director Geologist – Former Deputy Chairman & CEO, China Mining Resources Group
Ed Yurkowski Director CEO Procon Mining & Tunneling
Management
Adam Jean, HBA, CPA, CA VP Finance & CFO Chartered Accountant previously with Ernst & Young
Mike Romaniuk, BASc, PEng VP Operations & COO Geologist & Process Engineer – 25+ yrs engineering, mining & construction
experience primarily with Xstrata Nickel & Falconbridge
Bill Shepard Logistics Manager 15 yrs experience in procurement & logistics
Richard Schryer, PhD Director Regulatory &
Environmental Affairs
Aquatic Scientist –20+ yrs experience in mine permitting & environmental
assessments
Mike Middaugh Project Controls Manager 20 yrs major construction & project management
Keith Lee, BSc Senior Process Engineer 25 yrs operations, engineering & mineral processing experience
Carl Kottmeier, BASc, MBA, PEng Project Manager Mining Engineer – 25 yrs engineering & operations experience
Seok Joon Kim, MASc, PEng Senior Mining Engineer Mining Engineer – 10+ years operations & engineering experience
Dianna Stoopnikoff Environmental Relations Manager 15 yrs environmental & health and safety experience
44