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BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP.

PRIMERO MINING CORP. · Feb 22, 2015 · 41 slides

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Slides

  1. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 1
    BMO 2015 GLOBAL METALS & MINING CONFERENCE February 22-25, 2015 TSX P I NYSE PPP I
  2. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 2
    Investment Opportunity EMERGING MID-TIER GOLD PRODUCER High-Grade Production with Organic Growth Top Mining Jurisdictions in the Americas Black Fox Grey Fox Corporate Office (Toronto) Strong Financial Position San Dimas…
  3. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 3
    2014 Achievements and 2015 Objectives INCREASED PRODUCTION BY 57% 2014 ACHIEVEMENTS 2015 OBJECTIVES Reduced All Injury Frequency Rate by Zero fatalities and reduce All Injury 36% Frequency Rate by 15% Met guidance and increased…
  4. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 4
    High-Grade Production with Organic Growth HIGHEST RESERVE GRADE AMONGST PEERS 1,2 Average Gold Reserve Grade (g/t) Targeted Production Growth Profile (AuEq koz) Black Fox San Dimas 300-350 280-300 100 1.61 100 250-270 80 225…
  5. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 5
    Top Mining Jurisdictions in the Americas DIVERSIFIED, STABLE, MINING FRIENDLY JURISDICTIONS 30% CANADA 2015E PRODUCTION Black Fox Mine TIMMINS, ONTARIO BY REGION 70% Grey Fox Exploration Property MEXICO TIMMINS, ONTARIO…
  6. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 6
    Strong Financial Position SUFFICIENT LIQUIDITY TO DELIVER ORGANIC GROWTH TSX: P December 31, 2014 Pro Forma Convertible Debt Financing Exchanges 134M NYSE: PPP Balance Sheet (December 31, 2014 Pro Forma Convertible Debt…
  7. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 7
    Disciplined Cost Management FOCUSED ON INCREASING PRODUCTIVITY TO REDUCE COSTS Corporate: 2015 Cash Costs Guidance Range (US/oz Au)* 900 o Rationalizing offices (closing Vancouver and Mexico City offices) 800 o Focused on reducing G&A…
  8. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 8
    Proven Track Record HISTORY OF DELIVERING RESULTS 155% GROWTH 320% GROWTH 63% REDUCTION 1,2 Production (AuEq koz) Gold Reserves (Au koz) Total Reportable Injury Frequency Rate Black Fox Black Fox San Dimas Cerro del Gallo 250-270…
  9. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 9
    Asset Overview PIPELINE OF ORGANIC GROWTH DEVELOPMENT EXPANSION PRODUCTION PRODUCTION San Dimas Grey Fox & Black Fox CDG San Dimas 3,000 TPD Optimization Platform TSX P I NYSE PPP I 10
  10. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 10
    SAN DIMAS World Class Platform Asset Location Sinaloa-Durango, Mexico Ownership 100% (silver stream1) Metals Gold & Silver Mining Underground Capacity 2,500 TPD Production1 175,000-185,000 AuEq oz Costs8 590-640/AuEq oz Mineral Resources…
  11. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 11
    SAN DIMAS Expansion Plan 3,200 Target 3,000 TPD Capacity Mill Expansion 3,000 2,800 Mine Production to 2,900 tpd 2,600 tonnes per day Current Nameplate Capacity 2,400 Mine Production to 2,500 tpd Mill Expansion…
  12. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 12
    SAN DIMAS Significant Exploration Upside with Low Finding Costs o Completed 80,000 metres of drilling 2014, 2014 reserves and Low Finding Cost Per Ounce resources to be released in Q1 2015 P&P Reserves Discovered (Koz Au) o 1H 2015: 6.4…
  13. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 13
    BLACK FOX Established Jurisdiction with Proven Depth Potential Over 200 Million Ounces of Historical Production Note: Based on public data, average depth of listed mines is 1,633 metres. TSX P I NYSE PPP I 14
  14. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 14
    BLACK FOX Turnaround Opportunity to Create Value Location Timmins, Ontario Ownership 100% (8% gold stream1) Metals Gold Mining Open pit & underground Capacity 2,200 TPD Production1 75,000-85,000 oz Costs8 820-870/ oz Mineral Resources…
  15. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 15
    BLACK FOX Optimization Program 2014 o Acquisition and integration of Black Fox Complex o Commenced optimization program, focused on cost reduction o Increased underground exploration and development o Discovered high-grade intercepts at…
  16. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 16
    BLACK FOX Focused on Reserve & Resource Development Lateral & Depth Expansion TSX P I NYSE PPP I
  17. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 17
    BLACK FOX Metal Factor (grade x width) Metal Factor Grade (g/t Au) x width (metres) Legend 200 9800 9600 0 9400 9200 TSX P I NYSE PPP I 18 0 100m 200 m
  18. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 18
    GREY FOX Promising Exploration Project Grey Fox o Completed 76,000 metres of drilling in 2014. o Planned another 50,000 metres in 2015. o Positive exploration results announced to date from Location 4 km from Black Fox, Ontario…
  19. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 19
    Catalysts and News Flow REGULAR EXPLORATION UPDATES Q3 2014 Q4 2014 Q1 2015 San Dimas 3,000 TPD Decision San Dimas Exploration Update Reserve and Resource Update Expansion decision Extended top Including 226,000 announced…
  20. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 20
    Positioned to Outperform DELIVERING SUPERIOR RETURNS Highest Reserve Grade Producing in Americas Strong in Peer Group Top Mining Jurisdictions Financial Position 1.6 g/t 250 270 koz 134 million RESERVE GOLD GRADE MEXICO & CANADA1,3…
  21. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 21
    APPENDICES
  22. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 22
    2015 Guidance FURTHER 20% PRODUCTION GROWTH EXPECTED 2014 Black Fox San Dimas Outlook 2015 Attributable gold equivalent production1 225,100 75,000-85,000 175,000-185,000 250,000-270,000 (gold equivalent ounces) Gold Production…
  23. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 23
    2014 Financial Results (US thousands, except per share Revenues amounts) 2014 2013 (millions) 300 Revenues 274,612 200,326 +37% 250 Earnings from Mine Operations 52,663 76,004 Net income (loss) (224,384) (4,250) 200 EPS (1.48)…
  24. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 24
    2014 Consolidated Production Production Operating Results 2014 2013 (AuEq ounces) 250,000 1 Gold equivalent production 225,054 143,114 +57% (gold equivalent ounces) 200,000 Gold production 189,943 111,983 (ounces) 1 150,000…
  25. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 25
    2014 San Dimas Operating Results San Dimas Production 2014 2013 (AuEq ounces) Mill Throughput 13 2,463 2,101 170,000 +13% (tonnes per day) 1 150,000 Gold equivalent production 161,170 143,114 (gold equivalent ounces) 130,000…
  26. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 26
    2014 Black Fox Operating Results Q4 2014 Black Fox Production (March 5 2014 December 31) (Au ounces) 25,000 13 Mill Throughput 2,403 2,306 (tonnes per day) 20,000 Gold Production 20,334 63,884 (gold ounces) 15,000 Gold…
  27. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 27
    2015 GUIDANCE Lower 2015 Capital Expenditures Capital Expenditures Estimated 2015 Costs San Dimas Underground Development 15.2 million San Dimas Sustaining Capital 10.8 million San Dimas Projects 15.4 million San Dimas Sub Total…
  28. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 28
    2015 GUIDANCE Continuing to Invest in Exploration Exploration Expenditures Estimated 2015 Costs San Dimas Diamond Drilling 3.1 million San Dimas Drifting 1.9 million San Dimas Regional Diamond Drilling 0.9 million Ventanas…
  29. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 29
    Stock Performance & Significant Events 80% Primero Added 30 P-T Volume to S&P/TSX Primero Composite Index Primero Mining Corp. Announces San Dimas Expansion 60% S&P/TSX Global Gold Index Plan Phase 1 Primero 40% Announces…
  30. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 30
    Summary of Debt & Tradable Securities Convertible Convertible Primero Warrants Revolving Line Debentures Debentures TSX: P.WT of Credit Facility TSX: P.DB.U TSX:P.DB.V Drawn at Dec. 31, Face Value n/a 48.1 million 2014: 40.0…
  31. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 31
    SAN DIMAS BLACK FOX Silver Purchase Agreement Gold Streaming Agreement Primero sells 50% of annual silver Primero sells 8% of annual gold production production above 6.0 million ounces at spot at Black Fox at 509 per ounce o Remainder…
  32. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 32
    Focus on Responsible Mining HEALTH AND SAFETY o We understand that our most important assets are our people and their safety is our number one priority o We maintain world-class health and safety policies ENVIRONMENT o San Dimas is…
  33. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 33
    SAN DIMAS District-Wide Exploration Potential WEST BLOCK 2015 Exploration SINALOA SAN ANTONIO GRABEN CENTRAL BLOCK TAYOLTITA BLOCK ARANA Mined 1987-2002 Mined 2012-Current Mined 2002-Current Mined 1975-Current HANGING WALL SW NE…
  34. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 34
    CERRO DEL GALLO Large Gold Domain Project Summary Potential for an Additional 95,000 AuEq oz Location Guanajuato State, Mexico Ownership 100% Metals Gold, silver, & copper Mining Open pit, heap leach and/or conventional mill Stage…
  35. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 35
    SAN DIMAS Mineral Resources and Mineral Reserves (December 31, 2013, Mineral Resources include Mineral Reserves) Tonnage Silver Grade Contained Gold Contained Silver Classification Gold Grade (G/T) (Million Tonnes) (G/T) (000…
  36. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 36
    BLACK FOX Mineral Resources and Mineral Reserves (December 31, 2013, Mineral Resources include Mineral Reserves) Tonnage Gold Grade Cont. Gold Classification (Tonnes) (G/T) (Ounces) Proven & Probable Reserves Open Pit 1,468,500…
  37. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 37
    GREY FOX Mineral Resources (December 31, 2013) Cut-off Tonnes CAPPED Au Contained Gold Classification Grade Potential Material (Million (G/T) (Ounces) (G/T Au) Tonnes) Indicated Resources 3.0 Underground 1.394 5.4 243,041 0.9…
  38. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 38
    CERRO DEL GALLO Reserves and In-Pit Resources1 Total Resources Within the Gold Domain2 Au Au Ag Ag Cu Cu AuEq AuEq Category M Tonnes (g/t) (M ozs) (g/t) (M ozs) (%) (M lbs) (g/t) (M oz) Measured 129 0.54 2.24 12.0 49.8 0.09 256.0 0.94…
  39. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 39
    Executive Management Joseph Conway Chief Executive Officer Ernest Mast President & COO 30 Years of experience 25 Years of experience Appointed President and CEO in June 2010 Appointed President & COO in Feb. 2015 Former CEO, President…
  40. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 40
    Board of Directors Wade Nesmith Chairman Eduardo Luna Director 1 Founder of Primero Former EVP & President, Mexico. Former Chairman Founding and current director of Silver Wheaton and CEO of Silver Wheaton, Executive VP of Goldcorp…
  41. BMO 2015 GLOBAL METALS & MINING CONFERENCE – PRIMERO MINING CORP. – slide 41
    PRIMERO MINING CORP. 79 Wellington St. West, Suite 2100 Toronto, ON M5K 1H1 T 416 814 3160 TF 877 619 3160 www.primeromining.com Tamara Brown Vice President, Investor Relations T 416 814 3168 infoprimeromining.com BMO 2015 GLOBAL…

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