corporate presentation€¦ · corporate presentation cse:ssvr may 2020. summa silver corp. |...

Summa Silver Corp. | CSE:SSVR

Corporate PresentationCSE:SSVR

May 2020


Disclaimer Cautionary Note Regarding Forward-looking Information: This presentation contains "forward-looking information" and “forward looking statements” within the meaning of applicable Canadian securities laws. Forward-looking information and statements include, but are not limited to, statements with respect to, planned exploration activities, the future interpretation of geological information; the growth potential and cost of such exploration activities, future financings, the future price of uranium, and requirements for additional capital. Generally, but not always, forward looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connation thereof.

Forward-looking information and statements are based on our current expectations, beliefs, assumptions, estimates and forecasts about the Company’s business and the industry and markets in which it operates. Such forward information and statements are based on numerous assumptions, including among others, the availability of financing, the accuracy of previous exploration records and results, that the results of planned exploration activities are as anticipated, the price of vanadium, the cost of planned exploration activities, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of the Company to differ materially from any projections of results, performances and achievements of the Company expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, appeal of alternative sources of energy, aboriginal title and consultation issues, reliance on key management and other personnel; potential downturns in economic conditions; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; changes in laws and regulations; and delays in obtaining governmental or other approvals, competition, and uninsurable risks.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.


High grade precious metal districts are re-emerging as attractive discovery and development targets

Early mover opportunity in an area that is seeing renewed exploration interest

Progressing the Hughes Property in Nevada

Features a prolific high-grade past producing silver-gold mine with large-scale exploration upside

Summa Silver Overview

Nevada focused silver and gold development company

Silver and gold exploration focused near old mines has a strong history of value creation


Galen McNamara● Entrepreneur and Geologist with extensive discovery and capital

markets experience over nearly 15 years● Co-winner 2018 PDAC Bill Dennis “Prospector of the Year” Award

and 2016 Mines and Money Exploration Award ● Former Senior Project Manager - Exploration & Development at

NexGen Energy, managed all field based drilling and exploration activities, instrumental role in the discovery and delineation of multiple high grade uranium zones

● Bachelor’s and Master’s Degrees in Geology from Laurentian University

Garrett Ainsworth● President, CEO and Director of District Metals Corp (DMX–TSXV)● Highly accomplished Geologist and mining executive with more

than $300M in financing completed throughout his career● Key role in two large discoveries for which he was awarded the

2018 PDAC Bill Dennis “Prospector of the Year” Award, 2016 Mines and Money Exploration Award, and 2013 AMEBC Colin Spence Award

● Bachelor of Science in Geology with first class honours from Birkbeck, University of London

People

Martin Bajic● Chartered Professional Accountant with extensive CFO

experience at multiple Canadian listed companies● Wide ranging officer and director expertise ● Public listing stewardship proficiency ● Bachelor of Arts and a Diploma in Accounting from the University

of British Columbia

Thomas O’Neill● President of Thomas O'Neill and Associates Inc, a national leader

in insurance planning, group employee benefits and retirement planning

● Widely recognized expert in the life insurance and financial planning industry

● His leadership, vision, and passion for unparalleled customer relations has earned him the respect of both his peers and clientele

● Founder and proprietor of Grand Cru Imports Inc, an importer of fine French and Italian wines

CEO CFO & DIRECTOR

TECHNICAL ADVISOR

DIRECTOR


Hani Zabaneh● Principal of Orange Capital Corporation, a private, global

investment banking firm which provides assistance with companies transitioning to public markets

● Extensive corporate leadership experience as director of public companies since 2007

● Former Vice President of Eventbase Technology and Metrolink Networks

● Advanced Diploma in Geographic Information Systems from British Columbia Institute of Technology and Bachelor of Science (honours) from Queens University

People

Brian Goss● Founder and President of Rangefront Geological, a geological

consulting company and project generator that caters to a large spectrum of clientele in the mining and minerals exploration industry

● Director at Ridgestone Resources (RMI-TSXV), Director and former President of Lithium Corp (LTUM-OTCQB)

● Extensive mineral exploration and project management experience in the Western United States over fifteen years

● Bachelor of Science Degree with a major in Geology from Wayne State University in Michigan

DIRECTOR DIRECTOR


Nevada

● Top-3 ranked Global Mining Investment Jurisdiction

● 5.6M oz of gold production annually● Originally known as the Silver State

Walker Lane Trend

● Endowment of at least 80 M oz of gold and 700 M oz of silver

Nevada: A World-Class Mining Jurisdiction

Walker Lane Trend

Hughes PropertyTonopah, Nevada

Las Vegas

Reno

Source: Nevada Bureau of Mines


NevadaCalifornia 50 km

Goldfield Mining District4.2M Oz Au at >30 g/t Au(historic production)

Round Mountain - Kinross Gold15 millionth ounce poured in 2018361K oz Au production in 2019

Tonopah Mining DistrictHughes Property - Summa Silver

Gemfield - Waterton Global Construction

>125K oz Au annual production

Hasbrouck – West Kirkland MiningPFS Stage842K oz Au, 16M oz Ag

Three Hills – West Kirkland MiningPFS Stage

221K oz Au, 14M oz Ag

Bullfrog Mining DistrictAngloGold, Coeur MiningWaterton Global, Corvus Gold

Sources: kinross.com; gemfieldresources.com; wkmining.com

Nevada: The Precious Metals State


● Discovered in 1900 by Jim Butler while chasing after his run-away donkeys – or so the story goes

● Butler likely learned of the veins from the Shoshone People

● The first assayer decided the rocks were worthless and threw them away, but the second assayer found something different

● The veins were fabulously rich averaging 3,500 g/t Ag

● Extensive production in the area between 1910 and 1930

● Total production of 175M oz of Ag and 1.86M oz of Au from 8.8M tons of ore

● Average grades of 679 g/t Ag* and 7.3 g/t Au* or 1,263 g/t AgEq**

● Owned by Howard Hughes’ Summa Corporation in the 1970s

Tonopah: A Great American Silver Camp

*Calculated using 80:1 Au/Ag Sources: USGS 2018, Sander 1989, Carpenter et al. 1953

Mizpah Hotel, 1920’s

Howard Hughes and his H-1

Mizpah Hotel, 2020#1 rated haunted hotel in America


● One of America’s great silver producers of the time

● The Belmont Mine produced 36M oz of silver and 428K oz of gold from the property

● Historic underground sampling up to 7,907 g/t AgEq* on the property

● Dozens of bonanza-grade epithermal veins up to 15m wide

● No modern assessment of remaining potential

● Wide-open exploration potential to the east

● 2,547 ac – 5.5 km strike length

● Highway and powerlines on the property

The Hughes PropertyThe Belmont Mine, 1920’s

*Calculated using 80:1 Au/Ag


Powerline

US HWY 6

US HWY 95Las Vegas 340 km

Land Position

1 km

Total Size – 2,547 ac

Belmont Mine

Tonopah


The Belmont Mine

● One of the largest producers in America in the 1910’s

● 36.7M oz of Ag and 428K oz of Au of past production from 2.1M tons

● 460 m shaft, tens of miles of underground development

● Not operational since the 1940’s

● Belmont vein up to 15m wide

● No modern assessment of remaining potential

● Veins offset by fault zone and lost

Tonopah Veins – 5100-5200’ Elevation, Approx 325m below surfaceSource: Assmus, 1979

100m

Halifax Fault

600m

40-50°

40-50°

Western Vein

I.O.U. VeinLillie Belle Vein

Shaft Vein

Belmont Vein

Rescue Vein

How Many Ounces Remaining? Poorly Explored

Halifax Vein


Target elevation

Belmont Veintarget elevation

Belmont Mine Potential

OPENUP TO 15M WIDE

400 m

50m wide sliceCross Section Looking W

Western, Shoestring, Favorite, I.O.U. Vein Systems

OPEN

PREVIOUSLY MINED

Intersection of veins above best historical area

Belmont, Shaft, Lillie BelleVein Systems

TARGETING ANALOGUE

PREVIOUSLY MINED

Target areaprojected intersection

Viewed Area

7 km


Mizpah Extension Mine

Historic underground chip sampling results

Mine Area Width (m) Au (g/t) Ag (g/t) AgEq* (g/t)

1218 DriftUnknown 37.03 2,254 5,216Unknown 24.69 2,070 4,046

0.8 9.60 961 1,7290.8 53.49 3,156 7,4350.8 20.57 2,009 3,6550.8 23.32 2,404 4,2700.8 21.95 2,334 4,0890.8 45.26 4,286 7,9070.8 6.86 689 1,238

1221 Cross-cut1.2 4.80 486 8701.2 2.74 278 4981.2 2.06 235 3991.2 4.80 458 8420.9 42.52 3,740 7,1410.9 6.86 679 1,228

*Calculated using 80:1 Au/AgSamples taken for grade control during small scale mine operations

Level Plan1155’ Level

~300m depth

1217 Raise

1216 Raise

1221 Cross-cut

1218 Drift

Source: Nevada Bureau of Mines files 48400017, 60000321


Mine Area Width (m) Au (g/t) Ag (g/t) AgEq* (g/t)

1216 Raise1.2 10.97 891 1,7691.2 5.49 444 8831.8 6.17 570 1,0641.8 3.43 315 5901.2 5.49 550 9891.8 2.74 254 4741.2 1.37 251 3611.2 1.37 115 2251.8 1.37 153 2631.2 1.37 129 2391.8 1.37 122 2321.2 1.37 132 2420.9 9.60 885 1,6530.9 10.29 988 1,8111.8 6.17 484 9781.8 3.43 250 5251.4 5.49 451 8891.8 5.49 457 8960.3 10.97 1,066 1,9441.1 6.86 669 1,2171.2 4.11 380 709

1217 Raise1.1 71.32 656 6,3611.1 2.74 275 494

Mizpah Extension Mine

Historic underground chip sampling results

*Calculated using 80:1 Au/AgSamples taken for grade control during small scale mine operations

Level Plan1155’ Level

~300m depth

1217 Raise

1216 Raise

1221 Cross-cut

1218 Drift

Source: Nevada Bureau of Mines files 48400017, 60000321


40-50°

DiscoveryPotential

Width (m) To (m) Interval (m) Au (g/t) Ag (g/t) AgEq (g/t)

476.3 478.6 2.3 1.34 156.86 271512.1 513 0.9 8.20 890.17 1,587528.4 530 1.7 1.41 133.39 253567.8 568.6 0.8 3.12 305.87 571

Tonopah Veins – 5100-5200’ Elevation, Approx 325m below surfaceSource: Assmus, 1979

40-50°

5 km0.5 km

Mizpah ExtensionHigh Grade Veins

36.7M Oz Ag428K Oz Au

● Extensively altered over 180m

ET-14

● Remaining holes usually lost before target

● Often strongly altered● Vertical holes not good for

testing steep veins

ET-7: Historic drill results; 1989

ET-7


Underexplored 5km Additional Strike Length

OPEN

OPEN

Longitudinal Section. Looking N - unsliced

Sources: Nevada Bureau of Mines reports 48400131, 4840017, 60000321

ET-7: Historic Drill Results; 1989

*AgEq calculated using 80:1 Au/AgTrue-widths unknown

Viewing plane

5.5 km

Mined Strike Length of

Tonopah District4 km

5.5 km

Tonopah District Hydrothermal System

>250 g/t AgEq*

Drill holes overshot or abandoned before target depth

Clay/Chlorite alteration zone at surface

ET-14extensively alteredover 180 m

OPEN

ET-7BelmontMine

Mizpah Extension & Halifax Mines

Past production:37M oz Ag and 428K oz Au

225 g/t AgEq* over 1.2 m to 7,907 g/t AgEq* over 0.8 m

ET-7 intersected high grade mineralization, all others strongly altered and abandoned before target depth

Width (m) To (m)Interval

(m)Au (g/t) Ag (g/t) AgEq (g/t)

476.3 478.6 2.3 1.34 156.86 271512.1 513 0.9 8.20 890.17 1,587528.4 530 1.7 1.41 133.39 253567.8 568.6 0.8 3.12 305.87 571


District Comparison

District Strike Length

Million ounces Ag

Million ounces Au Head Grade

Tonopah, Nevada 4 km 175 1.9 1,263 g/t Ag Eq

Guanajuato, Mexico 18 km >1,000 4 297 g/t Ag Eq (2019)

San Dimas, Mexico 7.5 km 582 11 594 g/t Ag Eq (2018)

Pachuca, Mexico 7.5 km 1,500 6.2 Unknown

Comstock, Nevada 5 km 200 8.3 1,534 g/t Ag Eq

Pachuca

Guanajuato

San Dimas

Comstock

Tonopah5km ExplorationPotential On The Property175M Oz Ag + 1.9M Oz Au

815M Oz Ag + 3.6M oz Au

582M Oz Ag + 11M Oz Au

1,500M Oz Ag + 6.2M Oz Au

200M Oz Ag + 8.3M Oz AuSources: USGS, www.greatpanther.com, www.firstmajestic.com


U.S. Highway 6 crosses the property

Multiple dirt roads and trails

Access and Infrastructure

Adjacent to the pro-mining town of Tonopah

Powerline crosses the property

Typical Property TerrainU.S. Highway 6Road Access


Work Program

Spring 2020● Full 3D modeling of the historic Belmont Mine

and exploration extensions● Geophysics and geochemistry field programs

including magnetics, induced-polarization, and targeted geological mapping

● Delineate multiple drill targets over several kilometers

Summer 2020● Commence drilling highest potential targets for

high-grade mineralization● Targeting 5,000m drill program across historic

Belmont Mine and new target areas


Famous high-grade past producer

No modern assessment of remaining potential

Excellent large scale discovery potential – 90% Unexplored

Historic high grade results ready for follow up

Professional team with track record of discovery success

Excellent access and infrastructure

Nevada is a top-3 leading mining jurisdiction in the world

The Opportunity


Option Terms

● 5 year option to own 100%

● USD $400,000 cash payments

● USD $400,000 stock payments

● USD $1.5M work commitment

● 3% NSR, with option to buyback 0.5%

● Two-year cash commitment: USD $225,000

Year Cash (USD) Shares (USD)* Work (USD)

0 $ 25,000 (paid) $ 25,000 (paid)

$ 100,0000.5 $ 25,000 $ 25,000

1 $ 50,000 $ 50,000

1.5 $ 25,000 $ 25,000$ 200,000

2 $ 50,000 $ 50,000

2.5 $ 25,000 $ 25,000$ 300,000

3 $ 50,000 $ 50,000

3.5 $ 25,000 $ 25,000$ 400,000

4 $ 50,000 $ 50,000

4.5 $ 25,000 $ 25,000$ 500,000

5 $ 50,000 $ 50,000

Total $ 400,000 $ 400,000 $ 1,500,000

*Calculated from 10 day VWAP


Capital Structure

Common Shares Issued 21,963,767

Incentive Stock Options At $0.25 2,185,000

Warrants Issued Nil

Debt Nil

Total Fully Diluted 24,148,767


For more information, please contact

Galen McNamaraCEO

[email protected]

CSE:SSVR

www.summasilver.com1030 West Georgia St, Suite 907Vancouver, BC, V6E 2Y3

mailto:[email protected]

http://www.summasilver.com

corporate presentation€¦ · corporate presentation cse:ssvr may 2020. summa silver corp. |...

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