The Kiena Mine is located in the highly prospective Val d’Or, Quebec gold camp. The Kiena Deep A Zone, discovered in 2016 is located within the mines existing infrastructure, including a 930 metre deep shaft and 2,000 tonne per day mill, and is fully permitted. After successful completion of a PFS study, a restart of operations was announced on May 26, 2021.

Located on prospective Abitibi Greenstone Belt

PFS IRR 98%

Low CAPEX and fast restart timeline

Average annual gold production of 84,000 ounces per year, with over 100,000 per year run rate expected in 2024

Significant upside to current reserve and resources

Average annual FCF (2022 – 2027) of $85.5 million at US$1,600/oz of gold, or $109.5 million at US $1,900/oz

Kiena Overview
Location Val D'or, Quebec
Stage Production
Type Underground
Deposit Gold
Ownership 100%
Tailings Wet Deposition
Life of Mine 7 Years (PFS)
Workforce 142 employees
2P Reserves 601,800 ozs @ 11.9 g/t
KIENA PRE-FEASIBILITY STUDY HIGHLIGHTS
IRR 98%
Average annual gold production 84,000 ounces of gold per year
Mine life 7 years (Oct 31, 2020 resource update)
LOM average cash costs $502 (US$308/oz)
All-in Sustaining Costs $894 (US$676/oz)
Tailings Wet Deposition
Average Annual FCF (2022-2027) $85.5 million at US$1,600/oz
Life of mine capital $230 million fully funded
After-tax NPV5% $367 million at US$1,600 per ounce gold

Exploration Potential

Two geological maps, displaying parallel drill zones and drill results. Call out text reads; A-zone and VC zone continues to suggest robust upside to current resource inventory. Below map titled Parallel Zones. To the right map titled Open to Depth – Transition to High Grade
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