Rio2 (RIO) 2025 Precious Metals Summit - Beaver Creek summary

Project overview and strategy

• Fenix Gold is positioned as the largest permitted and fully financed gold heap leach project in the Americas, with 4.8M oz measured and indicated resources at $1,800/oz gold price.

• The project uses a staged development approach: Stage 1 at 20,000 tpd and Stage 2 at 80,000 tpd, with construction fully permitted and financed.

• Located in the Maricunga Gold Belt, it is the only 100% oxide gold project in the area, offering significant exploration upside and simple project characteristics.

• Proven management team with experience from previous successful mining operations.

Resource details and growth potential

• Proven and probable reserves stand at 1.8M oz, with measured and indicated resources at 4.8M oz and inferred resources at 1M oz; deposit is open at depth and along strike.

• Resource growth is driven by AI-powered big data analysis, 3D probabilistic modeling, and integration of geological expertise to optimize drill targeting.

• The orebody is a massive outcropping oxide deposit, finely disseminated gold in volcanic breccias, with negligible copper.

Water supply and infrastructure

• Phase 1 water supply (20,000 tpd) is secured via industrial water from Nueva Atacama, transported by truck to the site.

• Phase 2 expansion will utilize desalinated water from local providers with established business relationships and available excess capacity.

• Infrastructure includes leaching facilities, ADR processing plant, and construction laydown areas.