Lydian International

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September 26, 2017 at 8:30 AM (MDT)|Broadmoor Hotel & Resort

Howard Stevenson

President & CEO

SAFE HARBOR STATEMENT

Certain information contained in this presentation, including any information relating to Amulsar's expected future performance, is "forward looking". All statements in this presentation, other than statements of historical fact, that address events, results, outcomes or developments that the Corporation expects to occur are "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "projects", "potential", “targets”, "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation of such terms. Forward-looking statements in this presentation relate primarily to the results of the Amulsar value engineering and optimization study entitled the ‘‘NI 43-101 Technical Report, Amulsar Updated Resources and Reserves, Armenia”, dated March 30, 2017 and prepared by Samuel Engineering, Inc., and include, among others, statements with respect to: the economic and resource potential of Amulsar; the general development of Amulsar (including, but not limited to, infrastructure, mine operations, systems, facilities, plants, equipment and employment); the economic and feasibility parameters of Amulsar; the nature, cost and timing of development of the Amulsar project; expected capital costs, sustaining capital costs, production, cash costs and all-in sustaining costs; the timing and amount of funding under the Corporation’s project finance agreements and equipment financing agreements; the expected timing to begin repayments of debt under the project finance agreements and equipment financing agreements; the expected timing of achievement of net profit and positive cash flow results for the Amulsar project; the expected mine life, scale, mining methods and plan, processing methods and rates, grades, recovery rates, stripping ratio, production and other attributes of Amulsar; the tonnages and grades of mineral reserves and resources and the estimation of mineral reserves and resources; the realization of mineral resource estimates and the timing of development and construction of the Amulsar project, including the expected start date of production; the expected timing of deliveries of major equipment purchases; results of future exploration and drilling; the potential extension of the Amulsar project mine life through the evaluation of currently defined inferred resources and from open extensions at depth; the commitment to and implementation of good international industry practices; the timing for receipt of permits and approvals; the expected pre-tax and after-tax NPV, IRR and payback period associated with Amulsar; the support of the Armenian government and local communities; and the expected economic impact of the Amulsar project on the Armenian economy. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered when the property is developed.
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, without limitation: significant capital requirements and availability of capital resources to fund such requirements; failure to satisfy conditions to draw down advances under the project finance agreements and equipment financing agreements; fluctuations in international currency markets; price volatility in the spot and forward markets for commodities; tax rates or royalties being greater than assumed; discrepancies between actual and estimated production, between actual and estimated reserves and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Armenia; changes to the Corporation’s mine plan or profitability or to the Corporation’s asset profile that might alter the allocation of tax attributes to the Amulsar project; controls, regulations and political or economic developments in Jersey, Canada or Armenia; the speculative nature of mineral exploration and development; risks associated with obtaining and maintaining the necessary licenses and permits and complying with permitting requirements; failure to extend the mine life of the Amulsar project through the evaluation of defined inferred resources and from open extensions at depth; and uncertainties inherent to mining economic studies such as the Amulsar value engineering and optimization study, including the risk that the assumptions underlying such study and its economic parameters will not be realized. Additional risk factors are discussed under “Risk Factors” in the Corporation’s most recently filed Annual Information Form and also see “Risk Factors” in the Corporation’s most recently filed Annual Management’s Discussion and Analysis. Although the forward-looking statements contained in this presentation are based upon what management believes to be reasonable assumptions, these risks, uncertainties, assumptions and other factors could cause actual results, performance and achievements to differ materially from the expectations, future results, performances or achievements expressed or implied by the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation does not undertake any obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws.
Information concerning estimates of minerals reserves and resources
This presentations uses terms that comply with reporting standards in Canada and certain estimates are made in accordance with National Instrument 43-101 – Standard of Disclosure for Mineral Projects, which establishes Canadian standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission (“SEC”), and mineral resource information contained herein may not be comparable to similar information disclosed by U.S. companies. This presentation uses the terms “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” to comply with reporting standards in Canada. We advise U.S. investors that while such terms are recognized and required by Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of the mineral deposits in such categories will ever be converted into mineral reserves under SEC definitions. These terms have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Therefore, U.S. investors are also cautioned not to assume that all or any part of the “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” exist. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of pre-feasibility or other economic studies. It cannot be assumed that all or any part of the “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” will ever be upgraded to a higher category.

Where we say "we", "us", "our", the "Corporation", or "Lydian" in this presentation, we mean Lydian International Limited and/or one or more or all of its subsidiaries, as may be applicable. 

All dollar amount references in this presentation, unless otherwise indicated, are expressed in United States dollars.

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