PT Jelai Cahaya Mineral

Jelai Gold Project

PT Jelai Cahaya Mineral

June 2015

Summary of KLG Projects
KSK CoW
 100% under 6th generation
contract of work (“CoW”)
 Expiry 30 years after
commencement of mining
 Located 165km north west of
Palangkaraya, Kalimantan
 Tenements over 630km 2
 Forestry status comprises
7,501.25ha production forest
(open pit or underground
mining) and 165.75Ha
Protected Forest
(underground mining)
 38 prospects
 3D inversion modelling
identified world-class copper
porphyry targets
 Tier 1 Beruang Kanan VHMS
Copper system, exposed at
surface and shallow dipping
(20 degrees).
 Road access & existing camp
 Targeting 250-500kt copper
in 12 months
Kalimantan, Indonesia
 Kalimantan Gold has
developed close
relationships with all levels
of society, from local
communities surrounding
the projects to the highest
tier of decision making
 Fostering good
relationships and
strengthen local capacity
to self manage across
various community
aspects
2
PT Jelai Cahaya Mineral
Jelai IUP
 100% under a Mining
Business Licence (“IUP”)
 8 year exploration license,
expires June 2015
 Located in East Kalimantan,
Borneo, 45 km from major
city of Tarakan
 Tenements over 50km 2
 Forestry licence status
allows for open pit and
underground mining
 Forestry permit valid until
16 December 2016
 11 prospects
 Over 10km of low
sulphidation epithermal
gold-silver veins mapped at
surface
 Road access & existing
camp
 Targeting over 500koz gold
resources in 24 months
 PT Jelai Cahaya Mineral

KLG Corporate Structure

3
 Corporate Overview PT Jelai Cahaya Mineral

Proven track record in Indonesia

Board and Senior Management Capital Structure
Tony Manini Stephen Hughes
Deputy Chairman, CEO Director, Vice President - Exploration Capital Structure TSX.V AIM
Geologist, 28+ yrs Riotinto, Geologist, 17+ yrs mineral
Oxiana/OZ Multiple discoveries and exploration, project generation and Shares 394.7m
mine developments in Asia and evaluation, resource and mine
Australia. geology experience
Options
14.7m
Co-founder Tigers Realm Group and at Freeport, Oxiana and Tigers Realm (avg. price C$0.091)
EMR Capital, Chairman TR Coal. Group.
Warrants
Mansur Geiger 14.7m
Peter Pollard (avg. price C$0.091)
Non-Executive Chairman Vice President, Indonesia
20+ yrs experience as a consulting +30 years exploration experience Share price C$0.025 £0.015
economic geologist. International in Australia and Indonesia. Fluent
experience on porphyry copper-gold in Indonesian language and Market Cap (undiluted) C$9.9m £5.9m
deposits. customs. Worked at KSK in
Kalimantan since 1982. Pro-forma Cash
(as at 31 Dec 2014 plus Jan 2015 C$1.2m £0.6m
Faldi Ismail Capital Raising)
Doris Meyer
Non Executive Director Finance, Corporate Secretary Debt NIL NIL
Extensive experience as corporate Extensive experience in the mining
advisor specialising in the restructure industry, with KLG since 1997. Enterprise Value C$8.7m £5.3m
and recapitalisation of ASX-listed Member of the Associations of the
companies. Director of several ASX Certified General Accountants of Significant Shareholders
listed companies. BC and Canada.
TR Minerals Pty Ltd 15.2%
Raynard von Hahn Prasetianto W Mangkusubroto
Non Executive Director Government Relations, Indonesia MK TRM Holdings LP 9.0%
Mr. von Hahn is a practicing securities Masters of Industrial Engineering.
lawyer and was called to the bar in 22 yrs experience in mining and Asipac Group 5.3%
British Columbia in 1993. His practice government relations in Indonesia,
including Freeport.
Board 4.3%
focuses primarily on corporate
finance and securities law matters. Namarong Investments 3.8%

5
 PT Jelai Cahaya Mineral

Community and Environment

Community Development and Operating in
 1998 KLG established the YTS Indonesia
Foundation to provide community
support for a wide range of programs
as part of its commitment to work
hand in hand with local communities
 Strengthen local governance capacity
and support local economic
development
 KLG has been working in advance of
mining to foster good relationships KLG has developed close working
and strengthen local capacity to self relationships at all levels of society, from
manage across various community the local communities surrounding its
aspects including linking villages with project areas to the highest tier of decision
making.
local government services and linking
donor agency support to the needs of
communities
5
 PT Jelai Cahaya Mineral

Jelai Gold Project

 KLG owns 100% of this project through PT
Jelai Cahaya Minerals (“PT JCM”) Jelai Gold Project

 Exploration expenditure $6m, 138 drill holes,

17,278m completed at Mewet Prospect
 Located in East Kalimantan, Indonesia, 45km
from the major city of Tarakan, excellent
access
 IUP in suspension and process to production
license
 Forestry permit
 Clean & Clear
 Tenement area 49.5 km2
 Mewet prospect contains small resource,
plus 10 additional exploration gold prospects
 KLG seeking expressions of interest from
potential funding partners
6
 PT Jelai Cahaya Mineral

Project Summary
• Current resource potential: 145,000 ounces
• Upside: 330,000 ounces (untested areas)
• Exploration: $1.65M
• Development: $12M, production in 18 mths
• Plant design for 150,000t/annum
• Production: 15,000 ounces/annum minimum
• Payback in less than 2 years
• Increased production by modular plant design
• Increased production by increasing gold grade
• Potential future development of hydro power for mine
consumption
 PT Jelai Cahaya Mineral
Project Location
 PT Jelai Cahaya Mineral
Regional Geology 2
 PT Jelai Cahaya Mineral
Jelai Gold Project
•Faulted sequence of older sediments
against andesite, dacite and rhyodacite
intrusive and extrusive rocks
•Major faults trending NNE, subsidiary faults
trending NNW to N
•Dacite porphyry intrusive rocks may or may
not be responsible for the mineralisation,
there are other candidates, such as the
diorite intrusions or a hidden larger intrusion
at depth or peripheral to the area
•Strong structural control on the mineralised
structures
•Alteration is variable across the field,
dominated by propylitic alteration on a
regional basis and argillic alteration and
silicification against the mineralised
structures
 PT Jelai Cahaya Mineral
Prospect Types
• Precious metal veins
– Mewet prospect
– Mipi prospect
– Inyang prospect
– Mangkulit prospect
– Nyalut prospect
– Dokot prospect
– Gugung prospect
• Silicified zones
– Balangan prospect
– Lian prospect
– Abang prospect
– Bakayan prospect
– Muang prospect
 PT Jelai Cahaya Mineral
Exploration Completed
Programme Quantity

Ivanhoe Mines
Mapping Total detailed mapping at 1:50,000 to 1:2,000 scale, approximately 100
km²
Stream sediments 251 samples of -80#, 6 BLEG samples
Rock chip 1,680 rock chip outcrop and 871 float samples from the main project
area plus surrounding samples from other projects
Soil 9,393 samples, ridge and spur plus grid based, some deep augering
Geophysics Magnetometer survey, grid based
Trenching Approximately 40 hand-dug trenches, interesting zones channel sampled
Drilling (Ivanhoe) Twenty-six fully cored drill holes for 3,901.52 metres.
Survey control Various differential GPS surveys to fix base stations and grid survey for
soil sampling and drilling, Entopos
PT Jelai Cahaya Mineral
Re-establishment Camps, facilities, etc
Drilling 100 holes drilled over 9,595 metres mixed NQ/HQ coring
Development Geological modeling and scoping studies
Drilling An additional 4000 metres of drilling by Tigers Realm
 PT Jelai Cahaya Mineral
Mineralisation
 Jelai is a low-sulphidation epithermal Exploration
up-side

gold project.
 The Mewet Prospect has four vein
systems
 Gold mineralized low sulphidation
epithermal veins are hosted by a
sequence of andesite and dacite and
an intrusive breccia.
 Key minerals (eg adularia) and
textures indicate strong potential.
 Encouraging results from previous
drilling (DDH)
 Approximately 2000m of vein strike Drillcore from JCM 81 with 22.1 g/t Au, 41.7 g/t
Ag/t
length remains to be tested Adularia (yellow) in colloform-banded quartz
(right)
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 PT Jelai Cahaya Mineral
Mineralisation
Typical high grade
0.65 metres @ 10.3 g/t Au, 7.6 g/t Ag colloform-crustiform
banded quartz vein,
Mewet Vein

Highest gold grades are invariably associated with colloform banded

quartz-sulphide vein segments with lower grades in silicified and
brecciated volcanic rocks around these banded segments

Lower grade sections of mineralisation often includes the above

mineralisation type occurring as milled clasts within brecciated vein
segments, indicating multiple brecciation events
 PT Jelai Cahaya Mineral
Drill Hole Intercepts
Hole From To Metres Au (g/t) Ag (g/t) Vein
JCM-60 60.6 62.1 1.50 1.24 1 Lipan
JCM-53 28.75 31.5 2.75 1.09 1 Lipan
JCM-50 26.45 34.5 8.05 4.52 3 Lipan
includes 26.45 27.8 1.35 15.40 6
JCM-38 21.95 27.35 5.40 11.74 5 Lipan
includes 23.45 24.95 1.50 30.68 14
JCM-01 21.55 24.7 3.15 5.76 3 Lipan
JM024 60.73 60.85 0.12 53.80 18 Lipan
and 58.07 59.35 1.28 8.40 3

Hole From To Metres Au (g/t) Ag (g/t) Vein

JCM-69 22.75 28.75 6.00 15.84 81.19
and 52 54.85 2.85 2.09 6.91 Mewet
JCM-68 36.65 39.1 2.45 4.45 11.03
and 59.7 60.15 0.45 2.83 33 Mewet
JM011 26.31 28.43 2.12 6.90 16 Mewet
JM012 57 58.7 1.70 11.10 10 Mewet
JM013 38.33 40.2 1.87 7.50 13 Mewet
JM015 67.5 69 1.50 7.30 14
and 69.27 70.77 1.50 7.40 20 Mewet
JM018 115 119.51 4.51 6.40 8 Mewet
JM019 185.1 191.2 6.10 5.70 15 Mewet
JCM-04 22.35 23.1 0.75 5.75 4.2 South Mewet
 PT Jelai Cahaya Mineral
Drill Hole Intercepts
Hole From To Metres Au (g/t) Ag (g/t) Vein
JCM-66 43.8 48.05 4.25 1.64 1.18
includes 46.7 48.05 1.35 2.99 1.9 Sembawang Cent.
JCM-51 128.85 130.1 1.25 1.02 BD Sembawang Cent.
JCM-49 7.1 10.4 2.20 1.07 1.03 Sembawang Cent.
JCM-25 14.6 15.5 0.90 2.96 9
and 32 35.5 3.50 1.01 1 Sembawang Cent.
JCM-26 42 47.2 5.20 5.60 2.7
includes 43.4 44.6 1.20 17.33 7.5 Sembawang Cent.
JCM-27 12.55 18.5 5.95 2.15 4.2
includes 16.7 17.35 0.65 10.30 7.6 Sembawang Cent.
JCM-16 34.5 38.5 4.00 2.27 1.1 Sembawang South
JCM-09 37.73 38.3 0.57 1.16 BD Sembawang South
JCM-12 32.4 36.32 3.92 1.33 1.2 Sembawang South
JCM-13 19.45 20.45 1.00 2.23 2.4
and 32 36.75 4.75 10.43 14.6 Sembawang South
JCM-14 35 36.5 1.50 13.44 20.6 Sembawang South
JCM-19 43.3 44.3 1.00 5.48 2 Balangan

•A large number of significant intercepts during the JCM drilling programme were shallow
•The shallow drilling identified vein positions and the development of mineralisation within
areas of the vein
•This exploration technique is successful in exploring for deposits of this type
 PT Jelai Cahaya Mineral
Drill Hole Intercepts
Hole From To Metres Au (g/t) Ag (g/t) Vein
MEW6400-01 226.0 228.6 2.60 0.51 11.42 Mewet
MEW6500-01 198.0 203.5 5.50 2.73 6.34 Mewet
incl. 199.0 202.1 3.10 4.02 10.17 Mewet
MEW6500-02 249.0 250.0 1.00 1.47 1.30 Mewet
MEW6600-01 61.8 66.5 4.70 1.72 18.37 Mewet
incl. 63.8 65.9 2.10 2.42 29.99 Mewet
MEW6600-01 72.0 77.0 5.00 0.69 1.38 Mewet
MEW6600-02 161.4 164.3 2.90 5.16 12.28 Mewet
incl. 162.8 164.3 1.50 8.43 21.68 Mewet
MEW6600-02 176.0 180.0 4.00 0.92 0.80 Mewet
MEW6600-02 185.0 186.0 1.00 1.36 0.80 Mewet
MEW6600-02 200.0 215.0 15.00 0.37 0.35 Mewet
incl. 209.0 213.0 4.00 0.83 0.48 Mewet

•Recent drilling in 2011 continued to intersect good gold grades at surface and at depth
 PT Jelai Cahaya Mineral
Mewet Vein
 PT Jelai Cahaya Mineral
Current Focus : Scoping
•Fine gold suspected in the Mewet Mineralisation
•Preliminary bottle roll work shows excellent extraction after 24 hours for both gold and
silver
•Assay repeatability is good, with little evidence of nugget effect
•Scoping study in progress to determine a start-up option, conventional CIP processing
flow sheet
•Targeting 15,000 ounces/annum production for a minimum of 5 years
•Expectation to increase resources through further drilling at depth on known veins and
expanding exploration to other prospects
•Studies required include:
•Topographic surveys

•Geotechnical data for mine design

•Tailings storage facility and plant location

•Metallurgical testing and flow sheet design

•Feasibility study outlining project development

 PT Jelai Cahaya Mineral
Flow Sheet CIP Plant
 PT Jelai Cahaya Mineral
Project Development
Resource Scenario Projections

Area Tonnes Grade Au Grammes Ounces Recovery Gold Price Comments

(t) (g/t) (gm) (troy oz) % $/oz
94% $1,200.00

Present Situation (Resources)

Gold Value
Sembawang Central 0
Sembawang South 0
Lipan 0
Mewet Central 900,000 3.00 2,700,000 86,806 94% $97,916,667
Mewet South 0
Total $97,916,667

Present Situation with Unmodelled Estimates

Sembawang Central 100,000 4.00 400,000 12,860 94% $14,506,173 Open pit, SR 10, underground
Sembawang South 150,000 4.00 600,000 19,290 94% $21,759,259 Open pit, SR 10
Lipan 50,000 5.00 250,000 8,038 94% $9,066,358 Open pit, SR 10
Mewet Central 900,000 3.00 2,700,000 86,806 94% $97,916,667 May be underground mining
Mewet South 150,000 3.50 525,000 16,879 94% $19,039,352 Open pit, SR 10, underground

Sub-totals 1,350,000 3.31 4,475,000 143,872

Total $162,287,809

Blue Sky (Untested Exploration Targets but Similar Geology to Mewet)

Inyang 750,000 4.00 3,000,000 96,451 94% $108,796,296 Open pit, SR 10

Abang 250,000 4.00 1,000,000 32,150 94% $36,265,432 Open pit, SR 10
Mipi 750,000 5.00 3,750,000 120,563 94% $135,995,370 Open pit, SR 10
Mangkaliat/Nyalut 500,000 3.50 1,750,000 56,263 94% $63,464,506 May be underground mining
Dokot/Gugung 250,000 3.50 875,000 28,131 94% $31,732,253 Open pit, SR 10

Sub-totals 2,500,000 4.15 10,375,000 333,558

Total $376,253,858
 PT Jelai Cahaya Mineral
Project Development
Jelai Gold Project Development Scenario
Capital Item Estimates (USD)
Item Comments Unit Rate/Unit Units Total

Infrastructure
Pinjam Pakai Permit costs Unit $250,000 1 $250,000
AMDAL Permit and study costs Unit $100,000 1 $100,000
Permitting and government relations Permitting, licences, etc. Unit $300,000 1 $300,000
Detailed engineering and survey Detailed topography, survey, drawings Unit $150,000 1 $150,000
Road Upgrade From nearest sealed road/docksite km $30,000 18 $540,000
Site Preparation Clearing, grubbing plant and camp Ha $50,000 4 $200,000
Civil works Foundations and setup Ha $50,000 4 $200,000
Camp construction Buildings, mess, facilities Unit $150,000 1 $150,000
Office complex Offices, administration centre Unit $100,000 1 $100,000
Potable water supply Filtration and distribution Unit $75,000 1 $75,000
Process water supply Pumping and piping Unit $30,000 1 $30,000
Total $1,745,000

Plant/Processing
Detail design Detailed drawings, tender documents Unit $150,000 1 $150,000
Crushing circuit Primary jaw crusher, secondary cone Circuit $250,000 1 $250,000
Grinding circuit Ball mill, 25 tonne/hour Circuit $600,000 1 $600,000
Leaching circuit 2 leach tanks, residence 40 hours Circuit $450,000 1 $450,000
Adsorption circuit 4 CIP tanks, carbon screens Circuit $450,000 1 $450,000
Elution and stripping Elution and carbon regeneration Circuit $150,000 1 $150,000
Electrowinning and gold room Electrowinning, furnace Circuit $100,000 1 $100,000
Fuel farm 50,000 litre capacity, distribution and Facility $50,000 1 $50,000
control
Magazine Detonator, ANFO, emulsion, security Facility $40,000 1 $40,000
Tailings Design and construction Facility $1,500,000 1 $1,500,000
Workshop/maintenance Workshop, electrical and mechanical Facility $50,000 1 $50,000
Power house 1-2MW capacity, ?coal fired Facility $2,500,000 1 $2,500,000
Warehouse Chemical and consumable, spare parts Facility $50,000 1 $50,000
Total $6,340,000

Establishment
Computer systems Computers, server, software System $75,000 1 $75,000
Communications systems VSAT communications System $50,000 1 $50,000
Furniture and fittings Desks, chairs, cabinets Unit $50,000 1 $50,000
First fill Purchase of opening stock Unit $1,000,000 1 $1,000,000
Total $1,175,000

Grand Total (E) $9,260,000

Contingency 30% first round, on BFS 10% variance % 30% $2,778,000

Expected draw-down estimate to production $12,038,000

 PT Jelai Cahaya Mineral
Project Development
Jelai Gold Project Development Scenario
Operating Item Estimates (USD)
Item Comments Unit Rate/Unit Units Total Total/annum

Mining

Drill and blast Drill benches and blast, ANFO tonne $1.50 1 $1.50 $225,000
Mine waste Strip 10:1 tonne $1.80 10 $18.00 $2,700,000
Haul waste Haul and dump waste tonne $1.50 1 $1.50 $225,000
Mine ore Mining ore and loading trucks tonne $2.50 1 $2.50 $375,000
Grade control Grade control assays tonne $1.00 1 $1.00 $150,000
Haul to stockpile Haul to ROM, ore tonne $1.50 1 $1.50 $225,000
Total/tonne $26.00 $3,900,000

Plant/Processing

Crushing Crushing to 10mm tonne $0.75 1 $0.75 $112,500

Grinding Grinding to -80 tonne $1.00 1 $1.00 $150,000
Cyanide 2 kg/tonne assumed tonne $4.00 2 $8.00 $1,200,000
Lime 6 kg/tonne assumed tonne $0.50 6 $3.00 $450,000
Leaching Residence time 40 hours tonne $0.50 1 $0.50 $75,000
Adsorption Residence time 40 hours tonne $0.50 1 $0.50 $75,000
Carbon tonne $0.10 1 $0.10 $15,000
Elution tonne $0.05 1 $0.05 $7,500
Carbon regeneration Kiln operation tonne $0.05 1 $0.05 $7,500
Electrowinning tonne $0.05 1 $0.05 $7,500
Smelting tonne $0.05 1 $0.05 $7,500
Power tonne $2.50 1 $2.50 $375,000
Sales Transport, security, sales tonne $0.25 1 $0.25 $37,500
Total/tonne $16.80 $2,520,000

Administration (Other)

Administration $2.00 1 $2.00 $300,000

Environmental management $0.50 1 $0.50 $75,000
Community empowerment $0.25 1 $0.25 $37,500
Government relations $0.10 1 $0.10 $15,000
Royalties $3.00 1 $3.00 $450,000
Licencing $0.25 1 $0.25 $37,500
Other $1.50 1 $1.50 $225,000
Total/tonne $7.60 $1,140,000

Grand Total (E) $33.60 $7,560,000

Contingency 10% first round, on BFS 5% % 10% $3.36 $756,000

variance
 PT Jelai Cahaya Mineral
Project Development

Program Mth1 Mth2 Mth3 Mth4 Mth5 Mth6 Mth7 Mth8 Mth9 Mth10 Total

Drilling (metres) 500 500 1000 1000 500 500 4000

Analysis (samples) 100 100 200 200 100 100 800
Drilling (USD) $50,000 $50,000 $100,000 $100,000 $50,000 $50,000 $400,000
Analysis (USD) $4,000 $4,000 $8,000 $8,000 $4,000 $4,000 $32,000
Support $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $150,000
Camp/Logistics $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $150,000

Metallurgy $30,000 $30,000 $60,000

Geotechnical $30,000 $30,000 $60,000

Sub-total Exploration $852,000

Detailed Engineering $50,000 $50,000 $50,000 $150,000

Plant Design/Procurement $25,000 $50,000 $75,000 $150,000

Feasibility Studies
Process $50,000 $50,000 $20,000 $10,000 $130,000
Tailings $30,000 $30,000 $20,000 $80,000
Mine $50,000 $50,000 $30,000 $10,000 $140,000
Infrastructure $50,000 $25,000 $25,000 $100,000
Fianancial $25,000 $25,000 $50,000

Sub-total Feasibility $800,000

Grand Total $1,652,000

 PT Jelai Cahaya Mineral
Project Development

Parameter Year 1 Total

Month 1 2 3 4 5 6 7 8 9 10 11 12 Annual

Exploration/Corp $202,000 $202,000 $202,000 $202,000 $202,000 $202,000 $1,212,000

Feasibility $83,333 $83,333 $83,333 $83,333 $83,333 $83,333 $500,000
Capital $1,337,556 $1,337,556 $1,337,556 $4,012,667

Capital Expenditure $202,000 $202,000 $202,000 $202,000 $285,333 $285,333 $83,333 $83,333 $83,333 $1,420,889 $1,337,556 $1,337,556 $5,724,667

Ore mining (t) -

Processing (t) -

Mining ($) -
Processing ($) -
Other ($) -
Contingency ($)
Sub-total costs $- $- $- $- $- $- $- $- $- $- $- $- -

Grade (g/t) -
Recovery -
Total Au (g) -
Total Au (oz) -

Revenue $- $- $- $- $- $- $- $- $- $- $- $- $-
Operating P/L -$202,000 -$202,000 -$202,000 -$202,000 -$285,333 -$285,333 -$83,333 -$83,333 -$83,333 -$1,420,889 -$1,337,556 -$1,337,556 -$5,724,667
Cumulative revenue $- $- $- $- $- $- $- $- $- $- $- $-
Cumulative cash flow -$202,000 -$404,000 -$606,000 -$808,000 -$1,093,333 -$1,378,667 -$1,462,000 -$1,545,333 -$1,628,667 -$3,049,556 -$4,387,111 -$5,724,667

Item Amount Total Gold Price Production

Stage 1 $1,200.00 150,000 tonnes/annum

Scoping $60,000 Recovery Royalty

Testing $60,000 94% 3.75% sales
Drilling $852,000
Corporate $240,000 $1,212,000 Grade (g/t) Tax Rate
Feasibility $500,000 $500,000 3.31 25%
 PT Jelai Cahaya Mineral
Project Development
Parameter Year 2 Total
Month 1 2 3 4 5 6 7 8 9 10 11 12 Annual

Exploration/Corp $- $- $- $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $450,000
Feasibility $- $- $- $- $- $- $- $- $- $- $- $-
Capital Est $1,337,556 $1,337,556 $1,337,556 $1,337,556 $1,337,556 $1,337,556 $- $- $- $- $- $- $8,025,333

Capital Expenditure $1,337,556 $1,337,556 $1,337,556 $1,337,556 $1,337,556 $1,337,556 $- $- $- $- $- $- $8,025,333

Ore mining (t) 5,000 5,000 10,000 12,500 12,500 12,500 12,500 12,500 12,500 95,000
Processing (t) 5,000 7,500 12,500 12,500 12,500 12,500 62,500

Mining ($) $- $- $- $130,000 $130,000 $260,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 2,470,000
Processing ($) $- $- $- $- $- $- $84,000 $126,000 $210,000 $210,000 $210,000 $210,000 1,050,000
Other ($) $- $- $- $- $- $- $38,000 $57,000 $95,000 $95,000 $95,000 $95,000 475,000
Contingency ($) $- $- $- $- $- $- $16,800 $25,200 $42,000 $42,000 $42,000 $42,000 210,000
Sub-total costs $- $- $- $130,000 $130,000 $260,000 $463,800 $533,200 $672,000 $672,000 $672,000 $672,000 4,205,000

Grade (g/t) 3.31 3.31 3.31 3.31 3.31 3.31

Recovery 94% 94% 94% 94% 94% 94%
Total Au (g) 15,580 23,369 38,949 38,949 38,949 38,949 194,745
Total Au (oz) 501 751 1,252 1,252 1,252 1,252 6,261

Revenue $- $- $- $- $- $- $601,066 $901,599 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $7,513,324

Operating P/L -$1,337,556 -$1,337,556 -$1,337,556 -$1,467,556 -$1,467,556 -$1,597,556 $137,266 $368,399 $830,665 $830,665 $830,665 $830,665 -$4,717,009
Cumulative revenue $- $- $- $- $- $- $601,066 $1,502,665 $3,005,330 $4,507,995 $6,010,660 $7,513,324
Cumulative cash flow -$7,062,222 -$8,399,778 -$9,737,333 -$11,204,889 -$12,672,444 -$14,270,000 -$14,132,734 -$13,764,335 -$12,933,670 -$12,103,005 -$11,272,340 -$10,441,676

Parameter Year 3 Total

Month 1 2 3 4 5 6 7 8 9 10 11 12 Annual

Exploration/Corp $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $600,000
Capital $- $-

Capital Expenditure $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $600,000

Ore mining (t) 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000
Processing (t) 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 150,000

Mining ($) $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 $325,000 3,900,000
Processing ($) $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 $210,000 2,520,000
Other ($) $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 $95,000 1,140,000
Contingency ($) $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 $42,000 504,000
Sub-total costs $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 $672,000 8,064,000

Grade (g/t) 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.31 3.31
Recovery 94% 94% 94% 94% 94% 94% 94% 94% 94% 94% 94% 94%
Total Au (g) 38,949 38,949 38,949 38,949 38,949 38,949 38,949 38,949 38,949 38,949 38,949 38,949 467,389
Total Au (oz) 1,252 1,252 1,252 1,252 1,252 1,252 1,252 1,252 1,252 1,252 1,252 1,252 15,027

Revenue $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $1,502,665 $18,031,979
Operating P/L $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $780,665 $9,367,979
Cumulative revenue $9,015,989 $10,518,654 $12,021,319 $13,523,984 $15,026,649 $16,529,314 $18,031,979 $19,534,644 $21,037,309 $22,539,973 $24,042,638 $25,545,303
Cumulative cash flow -$9,661,011 -$8,880,346 -$8,099,681 -$7,319,016 -$6,538,351 -$5,757,686 -$4,977,021 -$4,196,356 -$3,415,691 -$2,635,027 -$1,854,362 -$1,073,697
 PT Jelai Cahaya Mineral
Project Development

Year 4 5 6 7 First Plan Cost/ounce

Operational $652.97
Exploration/Corp $600,000 $600,000 $600,000 $600,000 $4,662,000 All $758.35
Capital + Feas $12,538,000

Capital Expenditure $600,000 $600,000 $600,000 $600,000

Ore mining (t) 150,000 150,000 150,000 150,000 845,000

Processing (t) 150,000 150,000 150,000 150,000 812,500

Mining ($) $3,900,000 $3,900,000 $3,900,000 $3,900,000 $21,970,000

Processing ($) $2,520,000 $2,520,000 $2,520,000 $2,520,000 $13,650,000
Other ($) $1,140,000 $1,140,000 $1,140,000 $1,140,000 $6,175,000
Contingency ($) $504,000 $504,000 $504,000 $504,000 $2,730,000
Sub-total costs $8,064,000 $8,064,000 $8,064,000 $8,064,000 $44,525,000

Grade (g/t) 3.31 3.31 3.31 3.31

Recovery 94% 94% 94% 94%
Total Au (g) 467,389 467,389 467,389 467,389 2,531,690
Total Au (oz) 15,027 15,027 15,027 15,027 81,394

Revenue $18,031,979 $18,031,979 $18,031,979 $18,031,979 97,673,218

Operating P/L $9,367,979 $9,367,979 $9,367,979 $9,367,979 36,398,218
Cumulative revenue $43,577,282 $61,609,261 $79,641,239 $97,673,218
Cumulative cash flow $8,294,282 $17,662,261 $27,030,239 $36,398,218
 PT Jelai Cahaya Mineral
Hit or Miss??

Shallow drilling defines the structure, deeper drilling defines the resource
In an epithermal system, expect to miss as much as you hit in early exploration
•Mount Muro : About 300 kilometres of mixed drilling for 1.7M ounces gold equivalent
•Vera Nancy : Hole number 54 was the defining hole
 PT Jelai Cahaya Mineral

Thank you

PT Jelai Cahaya Mineral

Jelai Gold Project