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BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP.

PRIMERO MINING CORP. · Sep 4, 2014 · 35 slides

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Slides

  1. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 1
    Bank of America Merrill Lynch 20th Annual Canada Mining Conference September 4, 2014
  2. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 2
    Investment Opportunity o Mid-tier gold producer Black Fox Grey Fox o Portfolio of long-life, high-grade assets Head Office (Toronto) o Generating significant cash flow San Dimas Cerro del Gallo Producing Mine Ventanas o Located…
  3. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 3
    Our Strategic Focus TARGETED GROWTH PROFILE 2,3 1. Ensure sufficient financial liquidity 360-380 2. Sustain a measured growth profile Cerro del Gallo 50 Black Fox 3. Disciplined cost management (Thousand Gold Equivalent…
  4. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 4
    Strong Outlook for 2014 Outlook 2014 Gold equivalent production6 225,000-245,000 (gold equivalent ounces) Gold production 185,000-205,000 (ounces) Silver production7 6.25-6.50 (million ounces) All-in Sustaining Costs8…
  5. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 5
    Balance Sheet & Liquidity June 30, 2014 June 30, 2014 44M STRONG Cash Balance 89M LIQUIDITY 44M 78.1M Current Cash 4 PRUDENT Debt Level 150M 45M 2,3,11 Line of credit5 5-Year average after-tax Operating Cash…
  6. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 6
    Asset Overview: Low-Risk Mining Jurisdictions Builds on Established Presence in Mexico San Dimas Mine (AT DECEMBER 31, 2013, MINERAL RESOURCES INCLUDE MINERAL RESERVES) Au Reserves (Moz) 0.87 Black Fox Mine Au M&I Resources (Moz)…
  7. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 7
    SAN DIMAS A Flagship Asset Location Durango-Sinaloa State Border Ownership 100% One of Mexicos Most Metals Gold & Silver (Silver subject to Purchase Agreement7) Significant Precious Mining Underground cut and fill and long-hole Metals…
  8. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 8
    SAN DIMAS Proven History of Production San Dimas Historical Production (AuEq ounces) 250,000 Gold (oz) 9.00 Sinaloa Graben Discovery Gold Equivalent (AuEqoz) Acquisition of San Dimas by Primero Gold Grade (g/t) RH 8.00 Central…
  9. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 9
    SAN DIMAS Expansion to 3,000 TPD San Dimas Tonnes Per Day 3,000 3,000 tpd Target 3,000 tpd Expansion is Approved Construction of Phase 2 Mill Expansion Mine and Mill Optimized to 3,000 tpd Phase 2 Mill Mining…
  10. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 10
    SAN DIMAS Proven Exploration Success o Victoria Vein Gold Reserves increased to 195,000 oz at 11.5 g/t o 2014 15.7 million exploration program o 22,500 hectare package o 80,000 metres of drilling: 35,000 metres delineation…
  11. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 11
    BLACK FOX Another Opportunity to Unlock Value Location Timmins, Ontario Ownership 100% (8% gold stream at 504/oz9) Metals Gold Mining Open pit & underground Capacity 2,200 TPD Mine Life Open Pit: 3 years, U/G: 7 years Mineral…
  12. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 12
    BLACK FOX Prospective, Mining Friendly Jurisdiction Destor-Porcupine Fault has produced over 200Moz gold TSX:P I NYSE:PPP I 13
  13. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 13
    BLACK FOX Short Term Focus o Total 2014 budget of 48 million for 10 months Black Fox Throughput (TPD) 2,500 o Underground throughput: Open Pit Detailed underground operational review underway Open Pit 2,000 Near term target of…
  14. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 14
    BLACK FOX Open for Expansion Laterally & at Depth TSX:P I NYSE:PPP I 15
  15. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 15
    GREY FOX Promising Exploration Project CERRO DEL GALLO Location INCREASES 4 km from PRIMEROSPRODUCTION Black Fox - Timmins, ON BY 60%12 Ownership 100% (No gold stream) Metals Gold Mining Open pit potential & Underground Exploration 5…
  16. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 16
    CERRO DEL GALLO Construction Decision Delayed Location Guanajuato CERRO DEL GALLOState INCREASES PRIMEROSPRODUCTION BY 60%12 Ownership 100% Metals Gold, silver & copper Mining Open pit, heap leach, and/or conventional mill 2014…
  17. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 17
    CERRO DEL GALLO Exploration Upside o High grade vein intersected in first exploration activity since 2008 (Carmen-Providencia vein) o 10,000 metre drill program for infill, condemnation and exploration drilling in 2014 o Known…
  18. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 18
    Catalysts & News Flow Q1 2014 San Dimas expansion to Q3 2014 Cerro del Gallo Update Q4 2014/Q1 2015 Black Fox Underground 2,500 TPD completed at 1,000 TPD Expansion increases annual Replacing lower-grade production capacity to…
  19. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 19
    Investment Opportunity o Mid-tier gold producer 150% 2,3,10 o Portfolio of long-life, high-grade assets GROWTH planned by 2016 YE o Located in safe mining jurisdictions o Generating significant cash flow o Track record of…
  20. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 20
    Appendices
  21. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 21
    San Dimas Operating Results Q2 2014 Q2 2013 San Dimas Production (AuEq ounces) 12 Mill Throughput 2,405 2,216 (tonnes per day) 50,000 +18% 2 Gold equivalent production 46,248 39,089 45,000 (gold equivalent ounces) 40,000 Gold…
  22. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 22
    Black Fox Operating Results Black Fox Production Q2 2014 Q1 2014 (AuEq ounces) 20,000 12 +29% Mill Throughput 2,307 1,646 18,000 (tonnes per day) 16,000 14,000 Gold Production 17,166 13,298 (gold ounces) 12,000 10,000 Gold…
  23. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 23
    Financial Results (US thousands, except per share amounts) Q2 2014 Q2 2013 Revenue (thousands) Revenues 79,669 52,475 +52% 80,000 Earnings from Mine Operations 19,676 23,593 70,000 60,000 Net income (loss) 572 4,241 50,000…
  24. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 24
    SAN DIMAS Positive Leverage to Silver Recent Tax Ruling Created Positive Leverage to Silver Primero sells 50% of annual silver production above 6.0 million ounces at spot o Remainder sold at 4 per ounce under silver purchase…
  25. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 25
    SAN DIMAS District Wide Exploration Potential West Block 2014 EXPLORATION Sinaloa Graben Central Block Tayoltita Block Arana San Antonio Mined 1987-2002 Mined 2012-Current Mined 2002-Current Mined 1975-Current Hanging Wall SW NE…
  26. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 26
    CERRO DEL GALLO Cerro Del Gallo Development Plan 2013 2014 2015 2016 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Basic Engineering Permitting/Land Acquisition Site Survey Leach Pad Design & Earth Works Infill Drilling and MET Tests…
  27. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 27
    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…
  28. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 28
    CERRO DEL GALLO Reserves and In-Pit Resources1 Total Resources Within the Gold Domain2 M Tonnes Au Au Ag Ag Cu Cu Au Eq AuEq Category (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…
  29. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 29
    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…
  30. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 30
    GREY FOX Mineral Resources December 31, 2013 TONNES CUT-OFF GRADE CONTAINED GOLD CLASSIFICATION (g/t Au) POTENTIAL MATERIAL (MILLION CAPPED Au (g/t) (000 OUNCES) TONNES) Indicated Resources 3.0 Underground 1.394 5.4 243,041…
  31. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 31
    Executive Management H. Maura Lendon VP, Chief General Counsel and Corporate Secretary Joseph F. Conway C.E.O. 1 o Former Senior Vice President, Chief Legal Officer o Former CEO, President and Director of IAMGOLD and Corporate…
  32. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 32
    Board of Directors Wade Nesmith Chairman Rohan Hazelton Director 1,5 Robert Quartermain Director 2,3 o Founder of Primero o VP, Strategy, Goldcorp o Founder and President & CEO, o Founding and current director o Formerly with Wheaton…
  33. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 33
    Notes to Investors Regarding the Use of Resources This presentation has been prepared in accordance with the requirements of Canadian provincial securities laws which differ from the requirements of U.S. securities laws. Unless otherwise…
  34. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 34
    Footnotes 1. Refer to slides 28, 29, 30, 31 of this presentation. 2. Gold equivalent ounces include silver and copper production converted to a gold equivalent based on consensus estimated commodity prices; accounts for the San Dimas…
  35. BANK OF AMERICA MERRILL LYNCH 20TH ANNUAL CANADA MINING CONFERENCE – PRIMERO MINING CORP. – slide 35
    PRIMERO MINING CORP. Tamara Brown 79 Wellington St. West, Suite 2100 Vice President, Investor Relations Toronto, ON M5K 1H1 T 416 814 3168 T 416 814 3160 F 416 814 3170 infoprimeromining.com TF 877 619 3160 Trading Symbols…

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