This is an automatically generated transcript. Denver Gold Group cannot accept responsibility for mistakes, errors, omissions, or any action taken in reliance thereon. Use of this transcript is governed by Denver Gold Group’s Terms of Use.

Four bars on your cell phone and there's even fiber optic cable that goes out that road in the front that goes out to Victoria gold. So exceptional infrastructure. I don't think I've ever worked on another project as a geologist where I've had that kind of infrastructure. So pretty exciting times for us and of course, now with 7 million ounces that we put out this spring, we've certainly got to a new realm of being a tier one asset. We have heckle immediately to our north. You know, it's nice to have AAA multibillion dollar company next door that's investing in their underground silver project. And of course, Victoria Gold down the road 25 kilometers as the crow flies and their raven deposit is less than four kilometers from us all up hill and we can look at it from our camp and here we are with 100 and 73 square kilometers. Yukon, this belt of rocks with these related deposits with the first mine built in them and discoveries out at Snow Line. We've got a very major discovery right near that we made in 2019, right near what was just an operating mine, a two other 1000 ounce producing mine with their Raven deposit, which is 1.7 million ounces at 1.7. and certainly lots of room for that resource with their to grow with some of their stellar results that came out last year. Here's our deposits, our airstrip deposit and our power line deposit. Power line is now five kilometers of strike length and we can see both of these are still open. Here's the block model. Remember the depth of that pit is around 200 m. So we've really only focused on developing resources within 200 mil 200 m. And we can see a plan way to see a potential 10 million ounces there on surface within 200 m of surface sheeted veins just like snow line and Sitka roughly horizontal and power line, lots of visible gold, the resource of 7 million ounces, but within it at a 0.6 cut off 4 million ounces of a gram. And here at a 0.9 cut off 2.4 million ounces at 1.45. And that's important those images as you see what our drill plan is for this year. And here you're seeing it pole we drilled last year 850 m but 650 m vertical. And we didn't drill that for understanding, you know, the highest grade area we drilled it to test does airstrip dip underneath power line and that hole drilled through 400 m of power line and then 250 m of airstrip, which is really important for us. It shows it proves our geological model. It proves that the mineral goes to depth and over five kilometers. We're gonna use some of our additional tools before we drill some more deep holes because I think it'll show that there's deep roots to this and many of these deposits you look at marigold, you know, they mine the surface first and now they're down like a kilometer and a half. When you've got these deep rooted systems systems, top five reasons to invest in Banyan. You know, we finally are at that size and scale that we're significant walking around the conference here. Quite a few people have said, how'd you get so big so fast? We've certainly hit a new stage of being relevant to the, the gold producers with this gold price and in this jurisdiction, $10 an ounce still. That's a pretty good value and undervalued like many companies but us specifically at $10 some of our neighbors are currently at 50 or 100 and 20. I think we've got the team to really deliver value. Our, our program this year is our most rigorous ever and we've had the most technical success ever. And yes, I'll talk about some of the noise around us that have clouded that from getting attention. We have a strong treasury we raised in June gave us over 18 million. We have active income of around a million and a half dollars, which will continue into 2025 which makes us pretty unique from other companies and we're well funded for 20 25. And through 2025 that infrastructure, roughly $80 million better infrastructure than Victoria gold hydropower already on the property which is important from a green power perspective. A brand new power line that was just energized and built in 2021. So modern infrastructure, cell phone service and other things are really important when you look at capital costs, not only of operating capital costs and operating costs and two mines beside us which were permitted in the modern day showing that there is a permitting process which works in the Yukon and you can build and operate mines. I think that we're, we've been leading this, we made our discovery in 2019 right beside the road underneath the highway. Now with 25 million in resources go gold equivalent ounces within 100 m radius of us that is really significant. There will be other discoveries in this belt but the first mines to be built will be those around the infrastructure. Now, let's talk about the elephant in the room and I wanna talk about what happened briefly at Victoria Gold and how it's impacted us and what's going on now, you know, obviously our share price sold off in, in June with this and we've seen it start to recover pretty significantly. The government is saying that they don't want to sell off the assets of Victoria Gold. They wanna put the mine back into production, which is a really good signal that heat bleach will be possible in the Yukon and that, that mine will be operating. And they've been saying recently that they've been talking to buyers. So if there's a buyer there, that's really good for Banon, that, that mine gets back into production and potentially somebody with deep pockets is there. We're seeing positive messages from the first nations from the first nation adjoining where the coffee project is, has clearly said they support the coffee project. So I think that's important for Banion and it's partly why we're seeing our share price and people start to pay attention. There you can see our capital structure and the share price has started to improve up to 22 cents today. Our back end of our last financing, the hard dollars was 27 and the, the charity flow through was 38. Some great institutional shareholders have stuck with us and been supporting us for the last few years including Franklin and Fidelity Cisco development at 2.6%. And remember I'm a 4% shareholder and I'm the third CEO. So I've got $2 million in cash into this, didn't get any founder stock, including 200,000 into that financing in June. So I've got a very clear vision of how we need to get our, to get, move this project forward and to add value for our shareholders. And I'm very, very focused on that. And certainly at this conference, we've heard a lot of validation of what we're doing in our program for this year. You know, what does it look like? Bon, it's 7 million ounces. We are the seventh largest open pit resource in North America. That is, is quite unique. You know, in North America where, you know, you have security of tenure, you're able to permit projects. That's where lots of Corporates are looking these days. And, you know, I've had people say, well, what about Victoria Gold? Well, you know, what are the synergies better now with the assets of Victoria Gold if you have a deep pocketed, you know, corporate who's purchases that, what will they have? Well, they'll have a 200,000 ounce producer that they can book back into production in a couple years with 14 million ounces in actual resources and tremendous exploration potential on both properties. You know, Victoria had 550 square kilometers, had lots of exploration targets. We've got lots of exploration targets beyond what we see R at ORAC. That's what big companies are looking for in terms of generational assets where you could eventually get to four or 500,000 ounces of production annually. And here, you know, that might only be 5 to 6 years away, which is a lot shorter timeline than any of the other projects here on the chart. So in terms of coverage, you know, I we have Kar and paradigm who've also started to really take attention, they've been covering us for a while, but certainly as we ramp up to our pe A, they can give you some, some information on their thoughts and there you can see our financings with no warrants, which our last financing was in June, June 21st, $14.3 million and the bulk of it at 38 cents in 2024 we've been very, very laser focused on adding value. Our scoping studies and engineering work that we did over the last winter and continue through this year have really guided what our drill program is and what we want to achieve as we work towards our pe A in December of 2025. Metallurgical work continues optimizing the process and I'll have a bit more detail on that. And the exploration program that we designed was very strategically targeted on converting what we think is a very important, higher grade area and where your starter pit is of our power line deposit specifically, but also at Airstrip. And I think we've discovered that you know, we do have some high grade structural controls that'll really help us define our block model as we move forward and continuing the environmental programs that'll help us get this permitted. So there you can see about 90% over 2024 and 2025 is gonna be spent on defining that economic project at ORAC and all the work to go into it with 10% into exploration. Much of that pure exploration will be focused next year after we have the results of a Z TM survey and a 3d Geophysical survey that's currently being done by Mirror Geoscience really to help us see both the the near surface targets that are on the property as well as some of the deeper ones and potentially even look for the source of the intrusion here. That's one of the things that I continually get asked is where's the intrusion? This is an intrusion related deposit. You know, snow lines found their intrusion and we've been, we're in the horn fells which is above or around the intrusion. And I remind people 7 million ounces on surface starting from surface, whether we're in the horn fells or not, is very significant on this image. You can see the area that we're drilling out in power line and yellow. Also the area at airstrip. you know, airstrip we haven't drilled on since 2020 at 0.75 grade overall. That that's a higher grade deposit. And we know from remodeling it over this last winter that there's some high grade areas and ounces that we can add very quickly. And it comes in, in the scoping studies as a deposit that gets mined in the 1st 10 years. So really important that we get back and work on that. We put out our first set of results, 12 holes. We, we've drilled over 18,000 m. We will have drilled 20,000 m by the time we, we slow down and shut down our drilling at the end of the month. And the results that we get are confirming our hypothesis of, of what we feel we need to get, you know, roughly targeting that 2 million ounces of a gram that we think is in the core here and potentially 4 to 500 ounces in a starter pit or starter pits at 1.4 or greater. So I think that really will show that we've got an economic project and we've been very focused on on this program. Here's just a cross section looking north and you can see the purple and the red are the highest grade, you know, notice that there's very little overburden above this, that high grade mineralization is right on surface showing that this is a low strip ratio. And the best way to, to tell people that is to show you an image. Here's the, the cut off tables. If you wanna do your own math of how we got that visualization in the video. It is from our 43 101 and put out this week some more metallurgy, our gravity our cilc IP with gravity at 93%. You know, that's a 2% improvement already with some of the metallurgical work that we've done. And our network this year has been focused on improving recoveries, but also on understanding and reducing capital costs and operating costs. So we'll have more work on that specifically, more work on the gravity flotation mill option, which is also a a really strong option for us currently at 84. But we think with some continued optimization, we can get that up a couple percent but note that it only has a 3.7% mass pool. So, you know, that means that that has a very low environmental footprint, a small tailings facility and the capital cost is actually not that much higher than a potential heat bleach operation, heat bleach. We still continue to do a little bit of work on that. If we see the Victoria gold mine back in production, that might be an option if somebody puts in a mill like Kinross does and then has a heat bleach further down the road, you know, stockpile the lower grade or but the N PV of them to mill options. From our preliminary work is, is really tells a compelling story. And we've certainly used some of the meetings over the last couple days talking with Corporates to really understand what they see here. Because before we decide on the project in our pe a, we really wanna make sure that we've optimized it, use the advice of, of many people that have built a lot of mines and also that, that might be interested in, in building this mine, lots of room to grow. As I said, we can see the potential for 10 million ounces and you can see off to the east, we haven't even drilled to connect that resource to the south. And we know that airstrip dips underneath power line because we proved it with that hole. So likely continuity between airstrip and power line as well. You know, our value to to our value creation pathway. We've been really laser focused on adding ounces. you know, through COVID, we drilled and got it to 4 million ounces. And then these last two years, we're really now defining the project, understand and de risking it, understanding the metallurgy doing the baseline environmental understanding from those scoping studies, what the key drivers are that we need to continue to get information on and a great track record, you know, $7 an ounce in exploration costs 58 ounce for every meter that we've drilled really low costs at $350 a meter all in. Actually, it's a little bit less than that this year. But, you know, those are pretty great costs. We, our team has a really strong track record of managing our treasury. We also have a long track record of working in the community. Three of our five that really run the company have homes and whitehorse long connections in the community. I first had my agree agreement with this first nation in the community back in 2004. And I was in the community when the land claims agreement celebration was in the community. So I've got a long record of, of working with this community since the incident at Victoria. We've made sure to be in communication with the chief and council and with the Development Corp working on things that we can find to collaborate on and continue the good work. We hire a lot of people from the community. Our Banon runs a charity specifically working with schools and communities and we've recently donated, made a large donation to the school to help them with their shop and their culinary arts program. So it really shows that we're committed to the community and we've continued to do that through this time. We've got a great team. The five of us, you can see there are really the core Kyle Wallison is here taking some technical meetings. He's our VP of project development and came on on about a year ago. it's been really great to have his advice as we, we move forward towards our pe a next year, our board, we've got two engineers that have lots of operational and mind experience along with the lawyer in capital markets. We also get some great advice from Henry Marsden from, from Yamana. He's been really helping our, our team. I think it's, you know, this has been our best technical year ever and most focused in terms of how we spend our money. In addition, Brad Thrall, who built to an operated to permitted two mines in the uconn has been helping us on metallurgy and invaluable. in terms of an advisor, in terms of permitting, their, this project is really teed up. We have 15 years, over 15 years of data from the two mines beside us. We have our own data which we tacked on to their data collection programs, which means that we've got millions of dollars in years of the background data that most juniors don't collect to be able to start the permitting process once you have a study and a project which you think is the one that you want to permit. That's exceptional, you know, no existing roads and power or building new roads is difficult in many parts of Canada, no key wildlife areas. So this really sets us apart. This is a project that could be permitted and in construction in 4 to 5 years and fully permitted in, in 5 to 6. Where do we sit? Well, I think we got lots of room to rerate. All of the juniors. Haven't yet seen any love from the gold price. We're sitting around $10 per ounce, less for enterprise value if you take out our strong treasury, you can see some of the valuations of, of like coffee project which Newmont is currently selling it. They were purchased for $240 per ounce. Windfall, $500 per ounce is a, is always in my mind as a target but fully operational permitted. You know, you gotta read for the Stars. Even Kinross purchased the Underworld Project in 2020 for $89 per ounce. So I think we'll continue to see some of the juniors rerate as people start to understand the value proposition there. And what ultimately the N PV of some of these projects are we have lots of exploration project upside also on our Nitra property which is off to the west with that combined gives us 300 square kilometers in this district. There's lots of alluvial mining, there's known sediment hosted gold similar to or max on the gold dome property just to the south. The the intrusive theirs has never been drilled. So it's a pretty exciting property. We've done some more work on it and we're waiting for the geophysics. Likely we'll drill it next year. So Ver Banion, it's a great time. $2500 gold, $10 per ounce, there's lots of leverage there. We've got a very clear value creation strategy and a team dedicated to it. We have that scale that we need to be significant. We're advancing the project and de risking it and showing that there, there is a, an economic project here with the delivery of our pe a next year that s structures exceptional will help any company to move this forward very quickly. We very much will maintain a strong treasury into 2025. And even through 2026 if we need it with active programs and drilling for next year, we can be year round and we're really fortunate to have some pretty strong shareholders who've helped us along the way. So thank you for that. And any questions Stephen. Yeah. So I was just curious about, I, I understand growing the scale and it's near surface deposit. However, why not go any deeper than 200 m? Why? I mean, I've seen that you have a couple of holes poked down there, but just curious about the rationale further. Well, you know, deeper becomes relevant once you've got your first mining plan, but they don't really come into the, the pit in the 1st 10 years. And so if everybody just wants to know your ir and your payback, you know, that, that they're not really contributing to it. We are going to drill a couple of deep holes once we get that 3D Geophysics and the Lidar or the Z TM survey so that we can maybe target them a bit, look for where that higher grade is. And those are really important tools. Unfortunately, that didn't happen on schedule this year. It's got pushed out. But we might as well wait for those tools because five kilometers across a power line, you know, 100 and seven, there's a, there's a lot of room to miss. So why don't you wait for the information that might make it a little bit better in addition to some of the other technical work that we've got ongoing. So we will drill some, but we want some better advice on where to put them. Excellent. That makes sense. And with that, are there any other questions? I think that wraps up our session? Thank you. Thank you very much. Oh.