Creating a Leading Canadian Gold
Exploration and Development Company
February - March 2016
1
Forward-Looking Statements
This presentation (the "Presentation") contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the
applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections
as at the date of this Presentation. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be forward-looking statements.
In this Presentation, forward-looking statements relate, among other things, to information about current expectations on the timing and completion of the proposed acquisition by Oban
Mining Corporation ("Oban") of all of the issued and outstanding common shares (the "NioGold Shares") of NioGold Mining Corp. ("NioGold") by way of a statutory plan of arrangement
under the Business Corporations Act (British Columbia) (the "Arrangement"), the financial condition and anticipated market capitalization of Oban following the Arrangement, the pro-forma
capitalization and ownership of Oban following the Arrangement, the timing and receipt of the required shareholder, court, stock exchange and regulatory approvals for the Arrangement;
the timing and ability of Oban and NioGold to satisfy the conditions precedent to completing the Arrangement; the anticipated timing for mailing the joint management information circular to
each of the shareholders of Oban and NioGold in respect of the matters to be considered by such shareholders at the special meeting of Oban's shareholders and the special meeting of
NioGold's shareholders, as the case may be, in respect of the Arrangement; the closing of the Arrangement; the timing and ability of Oban to complete the "best efforts" private placement
of subscription receipts of Oban announced on January 11, 2016 (the "Offering"); the ability of Oban to satisfy the release conditions in respect of the subscription receipts, if at all; the
participation of "insiders" of Oban in the Offering; the amount to be returned to holders of subscription receipts should the release conditions fail to be satisfied by April 29, 2016; the riming
and receipt of required stock exchange and regulatory approvals of the Offering; the timing and success of exploration, development and metallurgical testing activities, the timing, extent
and success of mining operations (if any), project development and related permitting, the results of exploration programs, the results of economic analyses (including the Windfall Lake
PEA as defined below), the ability to expand mineral resources beyond current mineral resource estimates, opportunities for growth of mineral projects, estimates of gold prices, the ability
to adapt to changes in gold prices, estimates of costs, estimates of planned exploration and development expenditures and estimates of mine development and construction. This forwardlooking information entails various risks and uncertainties that are based on current expectations and actual results may differ materially from those contained in such information.
These uncertainties and risks include, but are not limited to, fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets
(such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or
unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to
properties. Risks and uncertainties about Oban's business and the business of NioGold are more fully discussed in each entity's disclosure materials filed with the securities regulatory
authorities in Canada and available on SEDAR under the applicable issuer profile at www.sedar.com. Readers are urged to read these materials and should not place undue reliance on
any forward‐looking statement and information contained in this Presentation. Except as required by law, Oban assume no obligation to update the forward‐looking statements of beliefs,
opinions, projections, or other factors, should they change, except as required by law.
The distribution of the common shares in the capital of Oban (the "Oban Shares") in connection with the Arrangement and Offering will not be registered under the United States Securities
Act of 1933 (the "U.S. Securities Act") and the Oban Shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements of the U.S. Securities Act and applicable state securities laws. This Presentation shall not constitute an offer to sell or the solicitation of an offer to buy the Oban Shares, nor
shall there be any offer or sale of the Oban Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
2
Cautionary Statements Regarding Technical Information
Mineral Resources
This Presentation contains information regarding mineral resources estimated at the projects of the companies referenced herein. Mineral resources
are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by
environmental, permitting, legal, title, socio-political, marketing or other relevant issues. In particular, the quantity and grade of reported inferred
mineral resources in the estimates referenced in this Presentation are uncertain in nature and there is insufficient exploration to define these inferred
mineral resources as an indicated or measured mineral resource in all cases. It is uncertain in all cases whether further exploration will result in
upgrading the inferred mineral resources to an indicated or measured mineral resource category.
For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake
project, please see the "Technical Report for the Windfall Lake Gold Project, Québec" dated April 17, 2014 (effective date March 3, 2014) filed on
SEDAR under the issuer profile of Eagle Hill Exploration Corporation at www.sedar.com. Please note that the Windfall Lake PEA (as defined below) is
based on a mineral resource estimate with an effective date of November 13, 2014.
For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Golden bear
project, please see the "Technical Report for the Golden Bear Project, Ontario" dated March 3, 2014 (effective December 30, 2013) filed on SEDAR
under the issuer profile of Northern Gold Mining Inc. at www.sedar.com.
For the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Marban project, please see the
"Details regarding Technical Report for the Marban project – Marban block property, Ontario" dated August 15, 2013 (effective date June 1, 2013) filed
on SEDAR under the issuer profile of NioGold at www.sedar.com.
Preliminary Economic Assessment
The preliminary economic assessment of the Windfall Lake project (the "Windfall Lake PEA") is preliminary in nature and includes inferred mineral
resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the Windfall Lake PEA will be realized.
Qualified Person
The technical information contained in this Presentation has been reviewed and approved by Gernot Wober B. Sc., P. Geo., a Qualified Person within
the meaning of National Instrument 43-101 – Standards for Disclosure of Mineral Projects.
3
Creating a Leading Canadian Gold Exploration
and Development Company
$130MM pro-forma market capitalization
Strong balance sheet with over $75MM pro-forma cash and marketable
securities
Two near-term development stage projects in Québec:
Marban and Windfall; two deposits in Ontario (Garrcon and Jonpol)
Significant and growing resource base in Québec and Ontario,
aggressive consolidation strategy (13 transactions since June ’15)
Active drill programs on all properties in 2016
Experienced management, board and technical team
4
Management Team
Oban Management Team
John F. Burzynski – President & CEO
Jose Vizquerra Benavides – Senior VP, COO
Don Njegovan – Vice President New Business
Blair Zaritsky – Chief Financial Officer
Gernot Wober – Vice President Exploration
5
Board of Directors
Ned Goodman
Co Chairman
Sean Roosen
Co Chairman
John Burzynski
Mr. Goodman is the founder of Dundee Corporation, an independent asset management company focused in
the areas of real estate and infrastructure, energy, resources and agriculture. From July 2014 to January
2015, Mr. Goodman was Chairman of Dundee Corporation and from June 1993 to July 2014 he was
President and CEO of Dundee Corporation.
Sean Roosen is Chair of the Board of Directors and Chief Executive Officer of Osisko since June 2014. Prior
to this, Mr. Roosen was the President and CEO of Old Osisko. He has led the transition of Old Osisko from a
junior exploration company to a leading intermediate gold producer. He was responsible for leading the
strategic development of Old Osisko and was instrumental in securing the necessary financing to fund the
development of the $1 billion Canadian Malartic Mine. Among other awards, Mr. Roosen was a co-winner of
the Prospectors and Developers Association of Canada's "Prospector of the Year Award" for 2007, and was
named, together with John Burzynski and Robert Wares as "Mining Men of the Year" for 2009 by the
Northern Miner. Mr. Roosen is a Supervisory Board member of EurAsia Resource Holdings AG – a European
based venture capital fund – and a director of EurAsia Resource Value SE. Mr. Roosen also sits on the
Board of Directors of the following publicly listed companies: Astur Gold Corporation, Bowmore Exploration
Ltd., Condor Petroleum Inc., Dalradian Resources Inc., Falco Resources Ltd. and NioGold Mining
Corporation. Mr. Roosen is a graduate of the Haileybury School of Mines and has had various progressive
positions in the mining industry both domestically and internationally.
M.Sc., P.Geo. Senior Vice-President, New Business Development and Director with Osisko Gold Royalties
Ltd. (TSX:OR). Mr. Burzynski is a registered P.Geo. in the province of Québec and has over 25 years
experience as a professional geologist on international mining and development projects. He was one of the
three founding members of Osisko Mining Corporation, and was also a founding member of EurAsia Holding
AG and EurAsia RH, a private European resource investment group. Mr. Burzynski was a co-winner of the
Prospectors and Developers Association of Canada's "Prospector of the Year Award" for 2007, and among
other awards was named, together with Sean Roosen and Robert Wares, as "Mining Men of the Year" for
2009 by The Northern Miner. Mr. Burzynski is also a member of the Board of Directors of Condor Petroleum
Incorporated (TSX:CPI).
6
Board of Directors
Robert Wares
Mr. Wares is a professional geologist with over 35 years experience in mineral exploration and development.
He was responsible for the discovery of the Canadian Malartic bulk tonnage gold deposit, which was
subsequently developed by Osisko Mining Corporation into one of Canada's largest gold producers. Among
other awards, Mr. Wares was a co-winner of the Prospectors and Developers Association of Canada's
"Prospector of the Year Award" for 2007, and was named, together with John Burzynski and Sean Roosen as
"Mining Men of the Year" for 2009 by the Northern Miner. Mr. Wares is also the President and Director of the
Ordre des Géologues du Québec, and sits on the Board of Directors of the following public companies:
Bowmore Exploration Inc., Komet Resources Inc. and Wildcat Silver Inc. Mr. Wares has a BSc. and an
Honorary Doctorate in Earth Sciences from McGill University.
Jose Vizquerra Benavides
Mr. Vizquerra has been for over 4 years the President & CEO of Oban Mining Corporation (Combination of
Braeval Mining Corporation and Oban Exploration Limited). Mr. Vizquerra previously worked as Head of
Business Development for Compania de Minas Buenaventura (BVN:NYSE), prior to which he worked as
production and exploration geologist at the Red Lake gold mine. He is currently a board member of Timmins
Gold. Mr Vizquerra holds a M.Sc. from Queens University in MINEX, and is a QP (AIPG-11679).
Patrick Anderson
Patrick F. N. Anderson – An exploration geologist and currently President & CEO of Dalradian Resources
Inc. Previously was a founder, President & CEO of Aurelian Resources Inc. which, after making the Fruta Del
Norte gold discovery, was acquired by Kinross Gold in 2008. He was named Mining Man of the Year by The
Northern Miner in 2009 and received the PDAC's Thayer Lindsley award for an international mineral
discovery in 2008.
Keith McKay
Currently CFO of Dalradian Resources Inc. Mr. McKay was previously the CFO at Continental Gold Limited,
CFO of Andina Minerals Inc., Vice President and CFO at Aurelian Resources Ltd. Mr. McKay sits on the
board of Oban Mining Corporation.
Bernardo Alvarez
Calderon
Director, B. Sc (Geological Engineering) Officer of Analytica Mineral Services since January 2005. Mr.
Alvarez Calderon has taken the Owners/President Management Program at the Harvard Business School
and holds a Bachelor of Science in geological engineering from the Colorado School of Mines.
7
Board of Directors
David Christie
Mr. Christie has 29 years of experience in the resource sector. He is currently Vice President with Goodman
& Company, Investment Counsel Inc. and Dundee Resources Limited, wholly owned subsidiaries of Dundee
Corporation. Previously Mr. Christie was also President, CEO and Director of Eagle Hill Exploration
Corporation which was acquired by Oban Mining Corp. He is a Director of Formation Metals Inc. (FCO-T)
and two private companies: True North Nickel Inc. and Condor Precious Metals Inc. Prior to joining
Goodman and Company in 2011, Mr. Christie was a highly ranked gold and precious minerals equity
research analyst at two bank-owned dealers for 12 years. He also has extensive experience in the North
American mining industry working as a professional geologist exploring for gold, base metals, uranium and
platinum group metals. Mr. Christie is a member of the PDAC convention planning committee. He received a
Bachelor of Science in Geology from McMaster University in 1986, is a Professional Geoscientist with APGO
and NAPEG, and a fellow of the Geological Association of Canada.
Murray John
Prior to his retirement in December 2015, Mr. John was President and Chief Executive Officer of Dundee
Resources Limited, a private resource-focused investment company and Managing Director and a portfolio
manager with Goodman Investment Counsel, where he was responsible for managing resource and
precious metals focused mutual funds and Flow-Through Limited Partnerships. Mr. John is a former,
President and Chief Executive Officer of Corona Gold Corporation and Ryan Gold Corp, which were both
acquired by Oban Mining Corp. in August 2015.Mr. John is also a director of Dundee Precious Metals Inc.
and a former director of several other companies. He has been involved with the resource investment
industry since 1992 and has worked as an investment banker, buy-side mining analyst, sell-side mining
analyst and portfolio manager. Mr. John graduated from the Camborne School of Mines in 1980 and has
extensive industry experience working as a mining engineer for Strathcona Mineral Services Ltd., Nanisivik
Mines Ltd. and Eldorado Nuclear Limited. He also received a Master of Business Administration from the
University of Toronto in 1992.
8
NioGold Transaction


Create a leading well-funded Canadian multi-asset gold developer
–
~3.5Moz measured & indicated and ~2.3Moz inferred gold resources across three projects located
in attractive jurisdictions of Ontario and Québec
–
~C$75 million in pro-forma cash(1) – one of the strongest balance sheets among junior gold
developers in Canada
Strategic location of the Marban deposit
–



15 km from Canadian Malartic and 9 km from Goldex Mine. Ore from Marban could be trucked to a
local mill which would reduce capital requirements
Increased scale, industry profile, and market presence
–
Oban pro-forma market cap of approximately C$130MM(1)(2)
–
Improved share trading liquidity, analyst coverage, and potential for re-rating of shares
Management team with deep industry experience and technical expertise
–
NioGold and Oban comprised of former executives from Osisko Mining Corporation
–
Technical team is well-placed to bring Marban project to production
Reduction of costs
–
Eliminate duplicate head office and public company costs
1. Cash includes cash and investments post-NioGold transaction..
2. Pro-forma market capitalization calculated on fully-diluted "in-the-money basis" (i.e., includes cash balance assuming all "in-the-money" convertible securities of NioGold are
exercised).
9
Share Structure
(pro forma NioGold transaction and financing)
 Common Shares Outstanding: 123.6M
– Stock Options:
– Warrants:
6,467,545¹ @ $1.38 (weighted average)
22,079,058 @ $2.30 (weighted average)
 Fully Diluted Shares: 152.1M
 Fully Diluted Cash: $136M
 Major Shareholders 33.3% (35.9% including insiders)
–
–
–
–
Osisko: 17.3% (19.9% including insiders)
Wexford: 7.1%
Dundee: 6.2%
Sprott:
2.7%
Notes:
1. The stock options includes 4,869, 500 Stock options from Oban at strike price of 1.62$/share and 1,598,045 at a strike price of 0.67 $/share
2. 130,636,320 warrants are publically traded under OBM.WT that has a conversion feature of 20:1 resulting in 6,531,816 on a 1:1 exchange for common shares of Oban.
10
N
0
40
ON
QC
Expanding Footprint in Québec and Ontario
80 Kilometers
Estrades Mine
Casa-Berardi District
Vezza
(Polymetallic Mine)
330,000 Oz @ 5.1 g/t Au (M)
1,016,000 Oz @ 3.2 g/t Au (Ind)
37,600 Oz @ 6.0 g/t Au (M)
251,000 Oz @ 5.9 g/t Au (Ind)
Poirier Mine
4.6Mt @ 2.22 %Cu
Holloway & Holt Mine
Windfall Lake Deposit
748,000 Oz @ 8.42 g/t Au (Ind)
35,000 Oz @ 3.83 g/t Au (M)
419,000 Oz @ 4.1 g/t Au (Ind)
NioGold
Bousquet
946,000 Oz @
2.31 g/t Au (Ind)
Garrison
Timmins:
0.3Moz @ 1.40g/t (M)
1.24Moz@ 1.50 g/t (Ind)
0.6Moz@ 1.13 g/t (Inf)
Porcupine
Destor Fault
71M Oz Au
24M Oz Au
Metals Creek
Urban Barry
32,750 Oz @ 7.1 g/t Au (Reserves)
170,850 Oz @ 6.6 g/t Au (Ind)
155,600 Oz @ 6.5 g/t Au (Inf)
43,800 Oz @ 4.07 g/t
Au (Ind)
Kirkland Lake
Suart
Beaufor Mine
Larder Lake
Desantis
Bonterra
Rouyn-Noranda
Matachewan
847,000 Oz Au @2.72 g/t (M)
652,000 Oz @2.97 g/t Au (Ind)
19M Oz Au
Catharine
Juby Deposit
1.09M Oz @ 1.28g/t Au (Ind)
Val-d'Or
15.5 M Oz Au
Canadian Malartic
1,688,000 Oz @ 0.99 g/t Au (M)
7,344,000 Oz @ 1.16 g/t Au (Ind)
100% Oban
Oban investment
Current Resources
Past production
See Appendix "A" for full disclosure on mineral resources. See also "Cautionary Statements Regarding Technical Information – Mineral Resources".
Note: Resources shown consider all categories.
11
Exploration Upside in the Malartic Camp
Cadillac Gold Camp
Malartic Gold Camp
Production 17MMoz
Production 10MMoz
Val-d’Or Gold Camp
Production 18MMoz
Westwood
LaRonde
NioGold
0.3Moz @ 1.40g/t (M)
1.24Moz@ 1.50 g/t (Ind)
0.6Moz@ 1.13 g/t (Inf)
Beaufor
Goldex
Lapa
Canadian Malartic
0
See Appendix A for full disclosure on mineral resources; See also “Cautionary Statements
Regarding Technical Information – Mineral Resources”
Note: Resources shown consider all categories
10
km
12
Technical Team Track Record: Discovery of Two
World Class Deposits and Built Canadian Malartic
Canadian Malartic Success Story
Canadian Malartic Development Timeline
2004: Property
acquisition
2006: First
resource
estimate
2005: First drill
hole






1.
2009: Permits
& start of
construction
2008:
Feasibility
study
Éléonore Success Story
Éléonore Development Timeline
2013:
Canadian
Malartic pours
its millionth
gold ounce
2004:
Discovery
2011: First
gold pour &
commercial
production
First drill hole to production in six years
Over 1000 km drilled on Canadian Malartic
Discovered 10+ million ounces of resources (current
reserves of 8.9 M oz Au(1))
Financing and construction of one of Canada's
largest gold mines during 2008 - 2009 financial crisis
Recruited team of 800+ employees
Trailblazer in terms of community relations and
sustainable development
– 250 homes relocated
– Construction of five institutional buildings
– Developed and maintained social license to
operate
See Appendix "A" for full disclosure on Reserves & Resources.
2008: 1st
Resource
Inventory: 3.7
Moz
2006: Sale to
Goldcorp



2013:
Construction
2012:
Production
decision
2014: First
gold pour
2014: New
resource: 8.1
Moz
2015:
Resource
expanded to
8.83 Moz
Discovery of the Éléonore deposit in 2004 by the
management team of Virginia
Successful sale to Goldcorp Inc. ("Goldcorp") in 2006
– Creation of a spinco which retained a 2.0 –
3.5% sliding-scale royalty on the Éléonore
deposit
Éléonore deposit taken from discovery to production
in 10 years (Goldcorp operator since 2006)
– First resource inventory in 2008: 3.7 Moz
– Subsequent resource growth in subsequent
years until a production decision is made in
2012
– Current resources of 8.83(1) Moz and growing
13
Key Projects Summary
Urban Barry
(Windfall)
Marban
 Malartic Camp,
Québec, Canada
 Urban Barry Camp,
Québec, Canada
 ~1000 ha

 0.30M @ 1.40 g/t (M)
 1.24M @ 1.50 g/t (ind)
 0.60M @ 1.13 g/t (inf)
 Update on resource
expected in coming
months
 Upside for further
discovery
Garrison
Catharine
 Kirkland Lake Camp,
Ontario, Canada
 Catherine Camp,
Ontario, Canada
 ~8,000 ha
 ~4,000 ha
 0.75M @ 8.42 g/t (ind)
 0.52M @ 1.07 g/t (M)
 0.80M @ 7.62 g/t (inf)
 0.68M @ 1.40 g/t (Ind)
 Early Stage project
with exploration
drilling
~82,000 ha
 55,000m drill program
initiated with positive
initial results
 Goal is to increase
confidence in existing
resource and expand
 0.81M @ 3.19 (inf)
 Good potential to
expand known
resources
 Exploration planning in
progress
~3.5M oz M & I and ~2.3M oz Inferred across three projects
14
Drilling on all Projects in 2016
Goal of Increasing and Upgrading Global Resources
Year 1
Marban
Windfall
Garrison
Catharine
PEA / Base Line
Exploration Drilling
Exploration and Infill
Drilling / Base line
Exploration and
Infill Drilling
Exploration Drilling
Year 2
Year 3
Feasibility Study / Base Line
Feasibility Study / Base Line
PEA
Resource
Compilation
15
Creating a Leading Canadian Gold Exploration
and Development Company
$130MM pro-forma market capitalization
Strong balance sheet with over $75MM pro-forma cash and marketable
securities
Two near-term development stage projects in Québec:
Marban and Windfall; two deposits in Ontario (Garrcon and Jonpol)
Significant and growing resource base in Québec and Ontario,
aggressive consolidation strategy
Active drill programs on all properties in 2016 aimed at increasing and
upgrading global resources, and new discovery
16
Appendix "A"
Mineral Resources(1)
Category
Measured
Marban
Garrison
Indicated
Marban
Windfall
Garrison
Total M&I
Marban
Windfall
Garrison
Inferred
Marban
Windfall
Garrison
Tonnes
Gold
Grade
Gold
(Mt)
(g/t)
(Moz)
6.56
15.10
21.66
1.40
1.07
1.17
0.30
0.52
0.82
25.57
2.76
14.97
43.30
1.50
8.42
1.40
1.91
1.24
0.75
0.68
2.66
32.13
2.76
30.07
64.96
1.48
8.42
1.24
1.66
1.53
0.75
1.20
3.48
16.48
3.51
7.87
27.86
1.13
7.62
3.19
2.53
0.60
0.86
0.81
2.27
1. See "Cautionary Statements Regarding Technical Information – Mineral Resources".
Note: Inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically. It cannot be assumed that all or any part
of the inferred resources will ever be upgraded to a higher category. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
18
Marban Overview
Marban (100% interest)
 Marban is located ~15 kilometres west of the town of
Val-d'Or in the Abitibi region of Québec, Canada
 Property consists of 42 claims and three mining
concessions for a total surface area of 9.8 km2
 Many active or past producing mines lie within a 10
km radius of the property:
– Canadian Malartic
– Goldex
– Kiena
 Three past producing mines on the property
(Marban, Norlartic and Kierens) had total historical
production of 590 Koz Au
 Outside the deposit, the strike length of the
Norlartic system is 1,200 metres and converge
toward the hanging wall of the Marban deposit
 Approximately 135,000 metres of diamond drilling
have been completed since 2006
 There are three known satellite zones to the
deposits: Gold Hawk, North and North-North
 Several new showings were intersected in diamond
drill holes throughout the property
Marban Plan view
Marban Long Section
19
Windfall Project Overview
Windfall Lake Property (100% interest)
 12,400 ha comprising 285 mineral claims in the
Abitibi mineralized belt
 Located within the region covered by Québec's Plan
Nord
 A PEA study was recently completed with the
following parameters(1):
– 1,200 tpd underground mine producing
106koz/year average gold production through an
existing ramp
– 7.8 year mine life
– 8.26 g/t head grade
– Preliminary metallurgical tests of 95.7% gold
recovery using flotation and leaching
– LOM total gold production of 828koz Au
– C$558/oz total life-of-mine average cash costs
• Average mining cost of $76/t
– C$240.6MM development capital
– C$241.4 MM NPV (5%) on a pre-tax basis
– C$135.2MM NPV (5%) on a post-tax basis
– 3.4 years pay back on a pre-tax basis
 Feasibility study expected by 2017
Windfall Lake Property
Claim Ownership
Oban Mining Corp and Eagle Hill Corp.
Bonterra Resources Inc.
Other companies
Main Zone A- A'
Suart just acquired
100,000 oz Non 43-101
Main Zone AA'
1. See "Cautionary Statements Regarding Technical Information – Preliminary Economic Assessment" and the news release dated April 28, 2015
of Eagle Hill Exploration Corporation available on SEDAR under the issuer profile of Eagle Hill Exploration Corporation at www.sedar.com.
20
Windfall Continuity
Plan View
2350 E
Section 2550 E
Section 2350 E
2550 E
2750 E
Section 2750 E
Source: Windfall Lake PEA
1. See "Cautionary Statements Regarding Technical Information – Preliminary Economic Assessment".
2. See "Cautionary Statements Regarding Technical Information – Mineral Resources".
21
Garrison Overview
Garrison (100% interest)
 The Garrison Property is located in Garrison
Township, ~40 km north of Kirkland Lake, Ontario
 Comprises 63 patented mining claims and three
unpatented claims covering an area of approximately
788 hectares
 43 of the patented claims that make up the Property
have been historically grouped into four contiguous
claim blocks known as the Newfield, Garrcon,
Brydges and Linton Groups
 Historical PEA completed in 2011:
Garrison Map
Jonpol
Garrcon
A’
A
903
2011 Garrcon PEA Financial Summary
NPV 5%
Cumulative Cash Flow
Taxes Payable
IRR
Payback
$266,400,000
$394,000,000
$120,000,000
47%
~2 Years
Operating Cost ($/oz)
Total Cost ($/oz)
Gold Produced
Long Section of Garrcon A-A’
$494
$648
~1MM oz
1. See "Cautionary Statements Regarding Technical Information – Preliminary Economic Assessment".
22
Catherine Project Overview
Catherine Project (100% interest)
 Located in the Larder Lake Mining Division of
Northeastern Ontario 18 km south of Kirkland Lake
 Through direct staking and tenement purchase in
2012
 The Property consists of 30 contiguous, unpatented
claims comprising of 65 units
 Located within the Archean volcano sedimentary
assemblage of rocks of the Western Abitibi
Subprovince in the Superior Province
 The 2014 reconnaissance drilling identified various
20 to 100m long disseminated mineralized intervals
in a number of short drill holes with gold grades
varying between 0.6 and 1 g/t
 Catharine Fault an underexplored structure
 Revisit area of exploration from 1930s
 Consolidated land package: +5,000 Hha
 Property contains three types of known
mineralization:
 Syenite-hosted Au
 Vein Au
 Cu-Au VMS
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Summary of Transaction with NioGold
Proposed
Transaction




Acquisition by Oban of NioGold by way of a statutory plan of arrangement
Concurrent equity raise of C$10MM in subscription receipts (plus C$10MM over-allotment option)
Combined market capitalization of approximately C$150MM1)(2)
Combined enterprise value of approximately C$70MM1)(2)
Consideration



Exchange ratio of 0.4167 Oban Shares per NioGold Share (or C$0.50 per NioGold Share)
Equity value offered of C$67MM(1)
51.5% premium to NioGold's closing price on January 8, 2016 and 67% premium to NioGold's 20-day VWAP

Includes customary covenants, including with respect to non-solicitation, a right granted to Oban to match
superior proposals for NioGold and a provision entitling NioGold to a fiduciary-out
Oban and NioGold have each agreed to pay a termination fee to the other party upon the occurrence of
certain events
Deal
Protection


Lock-up agreements from major shareholders and all directors, and officers of Oban and NioGold
(representing over 35% of the outstanding Oban Shares and NioGold Shares, respectively)
Unanimous support of the board of directors of both Oban and NioGold on the recommendations of each of
their independent special committees
Over 50% shareholder approvals required for Oban and over 66⅔% shareholder approvals required for
NioGold
Customary stock exchange, regulatory and court approvals



Joint circular expected to be mailed in early February 2016
Shareholder meetings for each of Oban and NioGold expected to take place in March 2016
The Arrangement and the Offering are each expected to close in the first quarter of 2016

Other
Considerations
Timing


1. Assuming all "in-the-money" convertible securities of NioGold are exercised and the corresponding number of NioGold Shares are outstanding immediately prior to the
effective time of the Arrangement.
2. Including C$10MM Offering.
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