Maniitsoq Project
Sulphide Hosted Nickel Copper Cobalt & Precious Group Metals
Southwest Greenland
100% Owned
www.northame...
Forward Looking Statements:
Some of the statements contained herein may be forward-looking statements
which involve known ...
 Acquired the (Sudbury Basin sized) Maniitsoq
property in Greenland in August, 2011; 100% owned
 High grade nickel sulph...
Nickel Supply/Demand: In Our Favor
 The Nickel market is likely to face large deficits in 2nd half of this decade – only ...
Location
Maniitsoq harbour looking east
towards the Maniitsoq project on the mainland
 Located on the southwest coast of ...
Property
 Greenland’s capital, Nuuk, is 30 minutes by helicopter and
provides European standard coastal re-supply and log...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Project Geology
Nickeliferous Noritic Intrusions
 Concentrated in a 7...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Distinct Appearance
 Rounded hills covered with brownish-grey,
often ...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
 Consists of monoclinic pyrrhotite,
pentlandite, chalcopyrite and pyr...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
 Mantle melting in response to a giant impact.
 Hot ultramafic magma...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Historical Work
 Kryolitselskabet Øresund, 1962 to 1973: extensive
ma...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Ni vs. S for Historical GNB Drill Core
 Nickel tenor is the amount of...
www.northamericannickel.com 13www.northamericannickel.com
Maniitsoq Project
2011 / 2012: Laying the Groundwork
North Ameri...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
 Total of 5,746 line-kilometers of helicopter borne
SkyTEM / VTEM cov...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
2012 Drill Program
1,551 METERS in 9 HOLES in 3 AREAS
 Spotty Hill VT...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Nickel Deportment - QEMSCAN
Mass(%Ni)
Legend
Pentlandite is the main n...
www.northamericannickel.com 17www.northamericannickel.com North American Nickel Inc. TSX-V: NAN
Maniitsoq Project
2013: Co...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
2013 Drill Program
 25 holes totaling 4,266 meters completed.
 Four ...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Imiak Hill Conduit Complex (IHCC)
www.northamericannickel.com
19
 12 ...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Imiak Hill Conduit Complex: 3 Mineralized Intrusions
www.northamerican...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Imiak Hill Longitudinal Section
 NAN’s 2013 drilling has intersected ...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
55.75 m @ 1.28% Ni, 0.36% Cu, 0.04%Co, 0.06 g/t TPM
Incl. 9.99 m @ 4.6...
2013 ADDITIONAL DRILLING:
2012 DISCOVERY:
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Spotty Hill
123.94 m of high...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
Fossilik Area: Additional Tonnage Potential for IHCC
www.northamerican...
www.northamericannickel.com 25www.northamericannickel.com North American Nickel Inc. TSX-V: NAN
Maniitsoq Project
2014 Pla...
Maniitsoq Ni-Cu-Co-PGM Project
South West Greenland
 NAN holds exclusive rights to explore the area containing the Greenl...
NAN Management
Rick Mark, M.Ed (Admin) CEO & Chairman NAN: Rick has over 25 years experience in the public market place. H...
Independent Directors & Advisory Boards
Independent Directors
Gilbert Clark, Director, NAN: Mr. Clark is a European based ...
Why Own NAN?:
Is It The World’s Next Nickel Sulphide Camp?
Investor Risk Mitigation: These “boxes” are already ticked
 Gr...
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Nan presentation may 2014

Published on: Mar 3, 2016
Published in: Business      Technology      
Source: www.slideshare.net


Transcripts - Nan presentation may 2014

  • 1. Maniitsoq Project Sulphide Hosted Nickel Copper Cobalt & Precious Group Metals Southwest Greenland 100% Owned www.northamericannickel.com 1 Company Presentation, May 2014
  • 2. Forward Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. North American Nickel undertakes no obligation to update such forward- looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements. TSX-V : NAN 2
  • 3.  Acquired the (Sudbury Basin sized) Maniitsoq property in Greenland in August, 2011; 100% owned  High grade nickel sulphide mineralization (locally over 7% nickel at Imiak Hill) intersected in 2013 drilling  Over +200 conductive target zones identified through Helicopter EM (VTEM) geophysical surveys  Extensive prospective belt (15km x 75km) hosting mineralized intrusions within a large meteor impact structure  $11M invested to date; Cash position today $5.8M  VMS Ventures holds 23.9% of NAN shares  Sentient Group holds 41% of NAN shares (the Sentient Group manages over $2.7B in quality metal, mineral and energy assets across the globe.) www.northamericannickel.com North American Nickel: Overview 3 CAPITAL STRUCTURE (as at May, 2014) Issued & Outstanding: 141,070,701 Warrants: ($0.21 - $1.00) 25,137,027 Options: 7,887,500 Fully Diluted: 174,095,228 53 Week High/Low $0.47/$0.12 YTD Performance 106% Current Price $0.36 Market Cap $50 million
  • 4. Nickel Supply/Demand: In Our Favor  The Nickel market is likely to face large deficits in 2nd half of this decade – only a doubling of NPI output could balance it (difficult given Indonesian ore constraints combined with Chinese cost pressures) Nickel prices, as in 2005‐2007, will likely have to rise to force demand in line with available supply.  China is going to need 1+ MILLION tonnes more nickel annually during this decade and ROW will also need more.  Supply response will be structurally insufficient as current projects under construction only provide half this requirement (at best, as many are struggling) and “project cupboard” is largely empty ‐ underpinned by 35+ years of underdevelopment. www.northamericannickel.com 4 Courtesy of Royal Nickel Presentation, Jakarta
  • 5. Location Maniitsoq harbour looking east towards the Maniitsoq project on the mainland  Located on the southwest coast of Greenland, which is pack ice free year-round.  Maniitsoq’s mild climate allows for all year round mining & shipping of concentrate.  Greenland is a democratic, pro-mining country with a transparent regulatory system, competitive mining tax regime and no land claims issues. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland www.northamericannickel.com 5
  • 6. Property  Greenland’s capital, Nuuk, is 30 minutes by helicopter and provides European standard coastal re-supply and logistics facilities 4 to 6 hours shipping time to Maniitsoq coastline.  Maniitsoq is a greenfields nickel sulphide exploration project with valuable by-products.  NAN owns 100% of Maniitsoq via two contiguous exclusive mineral exploration licences covering 3,601 km2.  Maniitsoq has the scale and the potential metal endowment to be the world’s next nickel sulphide province. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland www.northamericannickel.com 6
  • 7. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Project Geology Nickeliferous Noritic Intrusions  Concentrated in a 75 x 15 km curvilinear belt known as the Greenland Norite Belt.  Range in size from small dykes and plugs to elongated bodies covering up to 8 km2. (Fossilik intrusion, new discovery Sept. 26, 2013).  Hybridized margins and xenoliths of partially resorbed country rock are common.  Believed to represent open ended magma conduits. www.northamericannickel.com 7
  • 8. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Distinct Appearance  Rounded hills covered with brownish-grey, often rusty, coarse gravel.  Multi-phase: compositions range from quartz diorite, through norite, to lherzolite. Gabbronorite is most common.  Magmatic and cumulus textures often well preserved. Locally pyroxenes are partially or completely replaced by hornblende. Post Kinematic  Massive, little or no foliation except at margins.  Contacts often crosscut country rock foliation. Norite Intrusions www.northamericannickel.com 8
  • 9. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland  Consists of monoclinic pyrrhotite, pentlandite, chalcopyrite and pyrite.  Often coarse-grained.  Likely to produce a clean concentrate.  Inclusion-bearing sulphide (i.e. solid sulphide matrix with fragments of host rock) is a common texture.  Disseminated, blebby, net texture and vein sulphides are also common. Sulphide Mineralization www.northamericannickel.com 9
  • 10. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland  Mantle melting in response to a giant impact.  Hot ultramafic magma flows to surface through a “conduit system” comprised of restricted conduits and larger magma chambers.  Hot magma assimilates country rock (locally sulphidic) resulting in sulphur saturation and production of a sulphide liquid.  Ni+Cu+Co±PGE sulphide collects in zones of lower velocity within the conduit system.  Continual magma flow upgrades the nickel tenor of sulphide already deposited.  Magmatism eventually ceases and conduit system is preserved as noritic rock.  Over time, uplift and erosion expose parts of the magma conduit system and some of the Ni+Cu+Co±PGE sulphides. Modified after Maier et al., 2001 Deposit Model www.northamericannickel.com 10 J. Mungall, Ni Short Course Fig 4 Potential Sulphide Accumulation Sites in a Magma Conduit
  • 11. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Historical Work  Kryolitselskabet Øresund, 1962 to 1973: extensive mapping, prospecting defining the trend and shallow diamond drilling (average hole length <55 m), no subsurface geophysical modelling to orientate drilling but some success: Fossilik II: 12.89 m @ 2.24% Ni and 0.63% Cu  Cominco & Falconbridge, 1993 to 2000: Cominco flies extensive fixed wing time domain EM unsuited to undulating terrain and hampered by flight path.  Falconbridge completed surface magnetic and EM surveys, plus extensive high quality re-analysis of historical core that confirmed historical high-grade assays and establish Maniitsoq nickel tenor.  Neither Cominco nor Falconbridge did any drilling. www.northamericannickel.com 11
  • 12. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Ni vs. S for Historical GNB Drill Core  Nickel tenor is the amount of nickel in pure sulphide and it tends to be consistent on a deposit scale.  Falconbridge studied core from 119 drill holes around the entire 75km Greenland Norite Belt.  The norite hosted sulphides have a remarkably consistent nickel tenor of 6 to 8% Ni recalculated to 100% sulphide. Nickel Tenor The Nickel Calculator www.northamericannickel.com 12
  • 13. www.northamericannickel.com 13www.northamericannickel.com Maniitsoq Project 2011 / 2012: Laying the Groundwork North American Nickel Inc. TSX-V: NAN
  • 14. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland  Total of 5,746 line-kilometers of helicopter borne SkyTEM / VTEM covering approximately 860km2 mainly focused on the Greenland Norite Belt (GNB) but small survey also flown over the Pingo showing (about 15 km to the northwest of the GNB).  Nominal flight line spacing of 200 to 100 meters.  + 200 conductive zones recognized to date.  Map shows total magnetic intensity reduced to pole and electromagnetic anomaly picks over the GNB.  The resulting identified conductors are 3 dimensionally modeled, providing low risk sub surface drill targets that returned significant drill intercepts. Helicopter TDEM New Technology in an Old Camp 14
  • 15. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland 2012 Drill Program 1,551 METERS in 9 HOLES in 3 AREAS  Spotty Hill VTEM conductor P-55 tested intercepts:  123.94 m at 0.81% Ni, 0.21% Cu and 0.03% Co incl. 24.20 m at 1.75% Ni, 0.34% Cu and 0.06% Co  Imiak Hill VTEM Conductor P-54 tested intercepts:  26.98 m at 0.98% Ni, 0.44% Cu and 0.04% Co incl. 16.64 m at 1.36% Ni, 0.52% Cu and 0.05% Co  Fossilik II VTEM conductors P-58 & P-59 tested:  Anomalous mineralization and off hole BHEM conductors (future drill target: see Sept. 26, 2013 results) www.northamericannickel.com 15
  • 16. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Nickel Deportment - QEMSCAN Mass(%Ni) Legend Pentlandite is the main nickel- bearing mineral and contains 95.5 to 96.3% of all the nickel in the samples. Total potentially floatable pentlandite ranges from 96.3 to 97.6%. Pyrrhotite hosts 2.71 to 4.03% of the nickel. Silicates host < 1% of the nickel. Sample www.northamericannickel.com 16 Elemental Deportment (Mass % Ni)
  • 17. www.northamericannickel.com 17www.northamericannickel.com North American Nickel Inc. TSX-V: NAN Maniitsoq Project 2013: Confirmation and Discovery
  • 18. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland 2013 Drill Program  25 holes totaling 4,266 meters completed.  Four significant intersections at Imiak Hill (Aug 23, Sept 4 and Nov 5 news releases).  New zone of near solid to solid sulphides intersected at Imiak North (Sept 12 and Oct 23 news releases).  Fossilik: Potential for tonnage, 9km from Imiak Hill (Sept 26, 2013 news release).  Spotty Hill: additional disseminated mineralization intersected (October 23 news release).  Recognition of the Imiak Hill Conduit Complex Results released to date: www.northamericannickel.com 18  IMIAK HILL  IMIAK NORTH  SPOTTY HILL
  • 19. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Imiak Hill Conduit Complex (IHCC) www.northamericannickel.com 19  12 km2 area at north end of the Greenland Norite Belt.  Three mineralized norites within a 2 km radius  Imiak Hill  Imiak North  Spotty Hill  Only 25 km from nearest tide water at Kangia Fjord.
  • 20. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Imiak Hill Conduit Complex: 3 Mineralized Intrusions www.northamericannickel.com 20
  • 21. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Imiak Hill Longitudinal Section  NAN’s 2013 drilling has intersected Zones 10 and 30 at depth. Deepest intersection is 185m vertically below surface.  Zone 30 sulphide mineralization is increasing in intensity with depth. 2013: Oct. 10, 2013 News www.northamericannickel.com 21 MQ-13-023 (Zone 10) 10.33m (5.94m) @ 1.10% Ni, 0.38% Cu MQ-13-028 (Zone 30) 24.75m (11.08m) @ 3.19% Ni, 1.14% Cu MQ-13-026 (Zone 30) 25.51m (11.94m) @ 3.25% Ni, 0.48% Cu MQ-13-019 (Zone 30) 8.68m (5.58m) @ 1.53% Ni, 0.43% Cu MQ-13-024 (Zone 30) 14.90m (8.33m) @ 2.67% Ni, 0.39% Cu  MQ-13-019: 8.68m (5.58m)* @ 1.53% Ni, 0.43% Cu, 0.06% Co  MQ-13-024: 14.90m (8.33m)* @ 2.67% Ni, 0.39% Cu, 0.09% Co  MQ-13-026: 25.51m (11.94m)* @ 3.25% Ni, 0.48% Cu, 0.11% Co Incl. 18.62m (8.70m)* @ 4.31% Ni, 0.62% Cu, 0.14% Co  MQ-13-028: 24.75 m (11.08m)* @ 3.19% Ni, 1.14% Cu, 0.11% Co Incl. 17.91m (8.10m)* @ 3.80% Ni, 1.42% Cu, 0.13% Co And 2.40 m (1.10m)* @ 4.44% Ni, 1.13% Cu, 0.15% Co  BHEM response is also increasing with depth.  Open at depth. *Estimated true width is shown in brackets
  • 22. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland 55.75 m @ 1.28% Ni, 0.36% Cu, 0.04%Co, 0.06 g/t TPM Incl. 9.99 m @ 4.65% Ni, 0.33% Cu, 0.13% Co, 0.14 g/t TPM Imiak North Discovery – Assay Results www.northamericannickel.com 22 64.11 m @ 0.44% Ni, 0.20% Cu, 0.01%Co, 0.04 g/t TPM Incl. 24.98 m @ 0.71% Ni, 0.31% Cu, 0.01% Co, 0.07 g/t TPM
  • 23. 2013 ADDITIONAL DRILLING: 2012 DISCOVERY: Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Spotty Hill 123.94 m of high grade sulphides in hole MQ-12-005. 119 m of anomalous mineralization in MQ-12-009. Significant 2012 Drill intersections from Spotty Hill www.northamericannickel.com 123.94 m @ 0.81% Ni, 0.21% Cu, 0.03% Co, 0.26 g/t PGM Incl. 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co, 0.52 g/t PGM Incl. 8.20 m @ 2.39% Ni, 0.21% Cu, 0.07% Co, 0.60 g/t PGM 23 MQ-13-022 Collared 53 m southeast of MQ-12-005. Intersected 20.07 m grading 0.68% Ni, 0.28% Cu, 0.02% Co and 0.32 g/t TPM. Including 2.07 m assaying 2.03% Ni, 0.11% Cu, 0.07% Co and 0.78 g/t TPM.
  • 24. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland Fossilik Area: Additional Tonnage Potential for IHCC www.northamericannickel.com 24  Within 10 km of the IHCC  New discovery: MQ-13-018  Two historical occurrences with grades up to 2.24% Ni and 0.63% Cu plus a new discovery in hole MQ-13-018 Hole MQ-13-018 3 zones of disseminated mineralization:  32.19m @ 0.59% Ni, 0.18% Cu, 0.21 g/t TPM* Incl. 4.53m @ 1.06% Ni, 0.23% Cu, 0.33 g/t TPM*  26.00m @ 0.24% Ni, 0.11% Cu, 0.16 g/t TPM* Incl. 9.00m @ 0.42% Ni, 0.15% Cu, 0.27 g/t TPM*  8.71m @ 0.26% Ni, 0.15% Cu, 0.12 g/t TPM* *TPM = total precious metals (Pt+Pd+Au)
  • 25. www.northamericannickel.com 25www.northamericannickel.com North American Nickel Inc. TSX-V: NAN Maniitsoq Project 2014 Plan: Surface Geophysics, Outlining Tonnage at IHCC, Exploration Drilling of Priority Targets
  • 26. Maniitsoq Ni-Cu-Co-PGM Project South West Greenland  NAN holds exclusive rights to explore the area containing the Greenland Norite Belt and Maniitsoq Impact Structure and all significant associated nickel sulphide occurrences and significant occurrences of nickel mineralization in the area.  Three intrusions, comprising the Imiak Hill Conduit Complex (IHCC) with significant, high grade sulphide mineralization now identified.  Additional mineralized norites within 10 km of the IHCC creating the potential for an initial mining complex.  Sudbury camp sized,100% owned property with many unexplored and underexplored areas creating the potential for multiple deposits. Summary Of Work To Date: What’s Possible www.northamericannickel.com 26 2014 Program  Mid-April: Ground geophysical crews commence surveying the IHCC area for deep conductors to target with drilling.  June 2014: Focused drilling to build tonnage and further define mineralized zones at IHCC.  Drill test priority regional targets across the belt.
  • 27. NAN Management Rick Mark, M.Ed (Admin) CEO & Chairman NAN: Rick has over 25 years experience in the public market place. He is also CEO & Chairman of VMS Ventures Inc. (VMS-TSX.V). Over the last eight years, Rick and the group have raised more than $75 million for exploration and development activities. Neil Richardson P. Geo. COO, NAN: Neil has a long history of mineral exploration and mining experience with Hudbay Minerals and others. As the COO of both companies, Neil is responsible for creating and implementing exploration and development programs. Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. President & Director NAN: Mark has 35 years of industry and government experience, including Chief Geologist of the Mineral Deposits Section in Manitoba. He is a recipient of the Canadian national award for outstanding geoscientific achievement. John Pattison, P. Geo., B.Sc. Chief Geologist NAN: John worked with Falconbridge Limited and associated companies for 19 years managing base metal, PGE and gold exploration projects throughout Canada and southern Africa. He has led the Maniitsoq Project since its inception at NAN in 2011. Jim Sparling, P. Geo., B.Sc., MBA Project Manager NAN: Jim has worked for over 25 years in the exploration industry, most recently as COO for Skyline Gold and Exploration Manager for StrataGold, He is the principal geologist for the Maniitsoq Project in Greenland.
  • 28. Independent Directors & Advisory Boards Independent Directors Gilbert Clark, Director, NAN: Mr. Clark is a European based Geologist with more than 13 years of industry experience; principally in mining and international resource developments. He is currently an Investment Advisor with The Sentient Group, an independent private equity investment firm specializing in the global resources industry. Jim Clucas, Director & Audit Committee Member, NAN: Jim was Chief Financial Officer of Inco’s Canadian operations and has been involved in the development of several mineral deposits, including the Snow Lake Mine (High River Gold Mines), Montana Tunnels (Pegasus Mining) and the Fenix Project in Guatemala. He was the founder of International Nickel Ventures Inc. which acquired and developed the Santa Fe/Ipora Nickel Laterite deposit in Brazil. Jim is currently President and CEO of Search Minerals. Advisory Board Dr. Tony Naldrett: Tony is an internationally recognized expert in the field of nickel sulphide mineralization and was Professor of Geology at the University of Toronto from 1967 to 1998. He has authored or co-authored over 240 refereed papers and 8 books and has supervised 15 M.Sc. and 16 Ph.D. students and 15 Postdoctoral Fellows with focus on magmatic nickel, copper and platinum-group element sulphide deposits, worldwide. Mr. Alex Balogh: Alex is the former Chairman and CEO of Falconbridge Ltd., Deputy Chairman of Noranda Inc. and CEO of Noranda Minerals Inc. He has served as Chairman and Director for various mining organizations, sits on The Sentient Council and is a current member of the Advisory Board of Hatch Associates. Mr. Balogh is a metallurgical engineer and has more than 40 years of experience in the mining and metallurgical industry. Dr. James M. Patterson , P.Geo., Ph.D. , Technical Advisor: James is the former Geological Consultant, Vice President Exploration and VP & Executive Consultant with FNX Mining Company Inc. He was instrumental in the revival and building of the company from a market capitalization of $20 million to $2.5 billion. Dr. Patterson has over 40 years experience in mineral exploration globally. Dr. Patterson received his Ph.D. Mining Geology from the University of London, England, Diploma of Imperial College from Imperial College, London, England, BA (Honours) in Natural Sciences – Geology from Trinity College, University of Dublin, Ireland, and has over 25 publications on mineral exploration.
  • 29. Why Own NAN?: Is It The World’s Next Nickel Sulphide Camp? Investor Risk Mitigation: These “boxes” are already ticked  Greenland is a secure political jurisdiction supported by pro-mining government;  Access to ice free tide water, 12 month of the year: Moderate climate  Significant historic exploration data and drill core analyzed and interpreted by NAN  Maniitsoq’s geology is exemplary for district scale nickel potential:  Abundance of Ni-Cu sulphide occurrences at surface & in drilling;  High Nickel tenor – consistent across 75KM belt  Major, long lived structures  Large-scale mafic igneous event  QEMSCAN testing suggests excellent recoveries expected  Modern helicopter “terrain hugging” surveys optimal for Maniitsoq’s topography and mineralization immediate success >200 EM anomalies  Low cost power potential, (hydro electricity generation) and near by access to deep water shipping  Management has a discovery track record;  NAN has a strategic investor: The Sentient Group; owns 41% (VMS Owns 23.9%) 29

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