PHOENIX GLOBAL MINING LIMITED

ABOUT PHOENIX GLOBAL MINING

Phoenix Global Mining Ltd (PGM) is a private resource company registered in the British Virgin Islands. The Management team behind PGM has extensive capital markets experience and a successful track record of financing, listing and managing mining companies from exploration through to construction and commissioning.

The company has over 160 shareholders, including institutions, corporates and high net worth individuals. The company has no debt and is planning an IPO on the Alternate Investment Market of the London Stock Exchange during the first quarter of 2017.

 

PGM is committed to the evaluation and development of mineral properties on an international scale. The company is currently focused on the development of a brown fields copper, gold and silver mine in Idaho, USA, the historic Empire Mine.

HIGHLIGHTS

  • Underground high grade copper, gold, silver mine operated between 1901 and 1947
  • World class sulphide copper, gold, silver reserve potential remaining
  • Potential for high grade tungsten at depth
  • 220 shallow drill holes completed between 1964 and 1997
  • In 1997, SRK calculated an oxide open pit reserve of 15.5m tons of copper, zinc, gold and silver ore in the near surface expression of the ore body known as the AP Pit
  • Early copper production from the AP Pit planned from an SX-EW open pit mine
  • Results from an additional 67 drill holes to be added to the 1997 AP Pit reserve calculation to JORC - NI 43-101 compliance
  • Recent drill intersections include:
  • 9.1 metres - 4.64% Cu + 127gm/t Ag
  • 11.9 metres - 4.23% Cu + 1.44gm/t Au + 66gm/T Ag
  • 13.7 metres - 3.87% Cu + 0.26gm/t Au + 105gm/T Ag
  • "Of the total ore system, probably less than 5% has been tested. The upside potential of this ore system is considered major and it comprises a seriously  under explored and underdeveloped opportunity." - NH Maund, Arcturus Geoconsult, October 2016

 

On November 7th 2016, PGM signed an agreement to acquire 80% of Konnex Resources (a special purpose company holding the Empire leases) from ExGen Resources (TSX.V:ENG), on the following terms:

  • $150,000 to ExGen in cash (paid) plus 11.3 million PGM shares (issued)
  • $1,000,000 into the Konnex bank account by the earlier of IPO or 30 June 2017, to be spent on the Empire project ($145,000 already paid)
  • $100,000 to ExGen annually, commencing on the earlier of IPO or 31 March 2017, and on each anniversary thereafter until completion of a bankable feasibility study on Empire
  • Phoenix Global Mining to spend a minimum of $500,000 annually on Empire
  • ExGen to retain a 20% carried interest until construction financing - ExGen then participates or dilutes
  • 2.5% net smelter return royalty to ExGen from commercial production

 

Phoenix Global Mining already has operational control of Konnex, plus three out of five directors.

OBJECTIVES

  • Update the mineable reserves
  • Complete a bankable feasibility study on the AP Pit copper oxides to recover 7,000 tonnes of copper a year from an SX-EW plant with a downstream CIP plant to recover the gold and silver
  • Aggressive exploration at Empire to determine the total property potential
  • Secure a London AIM stock exchange listing in early 2017

 

We are excited to be working in Idaho, one of the premier regions of the world for metals. Idaho is a mining-friendly state with significant historical and current production and a supportive administration. This augurs well for our stakeholders and the community in which we are working.

 

EXPERIENCED MANAGEMENT, NEAR TERM

PRODUCTION, FIRST WORLD JURISDICTION,

EXCELLENT UPSIDE RESOURCE POTENTIAL

MANAGEMENT

Click to learn more about:

IDAHO IS RANKED 7TH IN THE WORLD

FOR BEST PRACTICES MINERAL POTENTIAL*

*FRASER INSTITUTE ANNUAL "SURVEY OF MINING COMPANIES, 2014"

THE EMPIRE MINE

The Empire Mine is located in the Alder Creek mining district in Custer County, four miles west of Mackay, Idaho.

 

The Empire Mine consists of 50 claims, 23 of which are patented (private), covering 744 acres. The property is accessible by road throughout the year and is in a mining friendly jurisdiction.

 

There is easy year round road access to the Empire Mine property which has an extensive history of mining on this brown field site.

 

Idaho is ranked 7th in the world by the Fraser Institute for Best Practices Mineral Potential, ahead of Alberta, Ontario, BC and Finland. Idaho is also ranked 3rd in the US for the same, ahead of Arizona. The Empire Mine is surrounded by supportive local communities and is located in an established mining state.

 

*Fraser Institute Annual "Survey of Mining Companies 2014"

550

Mackay

population

3,400

Custer County

population

90

miles to Idaho Falls

Regional Airport

140

miles to Twin Falls

Regional Airport

210

miles to Boise

International Airport

 

  • In 1997, Cambior Exploration USA (acquired by IAMGOLD in 2006 for $1.1 billion) completed a near surface oxide copper resource based on the results of 220 drill holes above old underground mine copper sulphide workings

 

  • 67 additional dill holes have been completed since these calculations and a new JORC compliant resource will be completed in Q1 2016 as the front end of a Bankable Feasibility Study (BFS)

 

  • Metallurgical testwork by Metcom and Kappes Cassiday shows a 65% copper recovery in a heap leach solvent extraction electro winning plant (SXEW) on the oxide reserves. The potential for additional oxide resources is excellent and the potential for world class sulphide copper reserves below the oxides is high with drill intersections in sulphides | 7.3% Cu over 24m | 8.6% CuEquiv over 4m | 16% CuEquiv over 1.5m | 6.4% CuEquiv over 4.6m

 

  • Target production from the Phase 1 mine on existing oxide reserves is 7,000 tonnes of copper cathode per year

 

  • Production from the deeper, higher grade sulphide ore, will follow on completion of an in-depth assessment of the resources below the sulphides which will include an analysis of by-product metals including zinc, tungsten as well as gold and silver

EMPIRE MINE HIGHLIGHTS

CONTACT PGM

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UK OFFICE

8 Shepherd Market

Suite 113

London

W1J 7JY

REGISTERED OFFICE

Akara Building

24 De Castro Street

Wickhams Cay 1

Road Town

Tortola

British Virgin Islands

NOMINATED ADVISOR

SP Angel Corporate Finance LLP

Prince Frederick House

35-39 Maddox Street

London

W1S 2PP

LEAD BROKER

Brandon Hill Capital Limited

1 Tudor Street

London

EC4Y 0AH

JOINT BROKER

Beaufort Securities Limited
63 St Mary Axe
London
EC3A 8AA

LEGAL ADVISOR

Gowling WLG (UK) LLP

4 More London Riverside

London

SE1 2AU

AUDITORS

Crowe Clark Whitehill

St Bride's House

10 Salisbury Square

London

EC4Y 8EH

BANKERS

Coutts & Co

440 Strand

London

WC2R 0QS

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