Calais Resources

Updated - February 2, 2011

Calais ResourcesCalais ResourcesHigh Grade Gold and Silver MiningHigh Grade Gold and Silver Mining

in thein the

1

in thein theUnited States United States

CAAUF.PKWebsite: www.calaisresources.com

• Near Term Gold & Silver Production Mining - Colorado

• Gold & Silver Exploration Programs - Colorado & Nevada

2

Cross / Caribou MineCross / Caribou MineRound Mtn MineKinross / Barrick

US Property MapUS Property Map

Denver

Tonopah, NV

Manhattan / White Caps MineManhattan / White Caps Mine

Company Summary:Company Summary:

High Grade Gold & Silver Deposits

� 0.30 to 0.50 oz Gold / ton ( 10.3 to 17.1 gm / tonne )

� 5.0 to 12.0 oz Silver / ton ( 171 to 411 gm / tonne )

� All Mine Projects within U.S.� Reduces political & operational risks

Experienced Management Team

3

� Experienced Management Team� Seasoned operational, engineering, and executive leadership

� Exploration AND Production � Initial high grade gold and silver resources - majority of exploration lies

ahead� Permitted – Revenue stream from initial production projected to

commence in 2011

Investor Opportunity: Investor Opportunity:

� Near-term Capital Appreciation & Recovery� Long-term Exponential Investment Growth

Company Summary:Company Summary:

High Grade Gold & Silver Deposits

� 0.30 to 0.50 oz Gold / ton ( 10.3 to 17.1 gm / tonne )

� 5.0 to 12.0 oz Silver / ton ( 171 to 411 gm / tonne )

� All Mine Projects within U.S.� Reduces political & operational risks

Experienced Management Team

4

� Experienced Management Team� Seasoned operational, engineering, and executive leadership

� Exploration AND Production � Initial high grade gold and silver resources - majority of exploration lies

ahead� Permitted – Revenue stream from initial production projected to

commence in 2011

Investor Opportunity: Investor Opportunity:

� Near-term Capital Appreciation & Recovery� Long-term Exponential Investment Growth

� R. David Russell – Chairman / CEO / Director � One of the major shareholders of Calais Resources.� Previous President/CEO of Apollo Gold Corp., as well as a director and founder. � Thirty-plus years experience executive management at Asarco, LAC Minerals, Barrick Gold, Getchell

Gold Corp.� Holds Directorship positions at General Moly, Pure Nickel, & Fire River Gold� BS degree – Mining Engineering, Montana Tech

5

Experience and Industry Leadership

Calais Resources Management TeamCalais Resources Management Team

� David K. Young – President / COO / Director� Has over 28 years of underground mining experience in operations, engineering, mine and corporate

management. � ASARCO – Black Cloud Mine (CO), Troy (MT), Galena & Coeur (ID)� Apollo Gold Corp. – Montana Tunnels (MT), Florida Canyon (FL); Black Fox (Ontario, Can.)� Registered Professional Engineer, State of Idaho; 43-101 qualified person for Calais� BS degree -- Mining Engineering, Colorado School of Mines

� Thomas Hendricks - Vice President Exploration / Director:� Has over 38 years of mining experience at Cross/Caribou, and was President of Hendricks Mining prior

to merger w/ Calais in 1999. Past President of Calais Resources� Experienced small mine operator and geologist � Numerous awards for environmental stewardship & community service.� Served(s) on several state and local boards for reclamation of historic mining properties. 5

� Accounting Group - SJM Financial Solutions

� Auditor – Eide Bailey

� Legal Group� Jon Sawyer - US Corporate Council

6

Additional Management Team & Technical / Legal Consultants

Calais Resources Management TeamCalais Resources Management Team

� Jon Sawyer - US Corporate Council� Michael Hobart - Canadian Council� Fay Matsukage - SEC Corporate� John Henderson - Land / Mining Attorney

� Permitting / Environmental Group� Bruce Humphries� Walsh Environmental

� Independent Engineering Review� SRK Consulting

6

�� Colorado AssetsColorado Assets�� Cross / Caribou MinesCross / Caribou Mines - Nederland, Colorado

� Started in 1869 – Historic Production - 20 million oz of Silver & 500,000 oz of Gold

�� Historic ResourcesHistoric Resources (PAH - 2002)

� Measured & Indicated – 443,000 tons

� Gold - 0.57 oz per ton (19.5 gm / tonne)

� Silver - 18.3 oz per ton (627 gm / tonne)

7

Asset SummaryAsset Summary

7

� Silver - 18.3 oz per ton (627 gm / tonne)

� Inferred – 579,000 Tons

� Gold – 0.29 oz per ton (9.93 gm / tonne)

� Silver – 7.49 oz per ton (256 gm / tonne)

� Measured, Indicated & Inferred – 1,022,000 tons

� Gold – 0.41 oz per ton (14.0 gm / tonne)

� Silver – 12.2 oz per ton (418 gm / tonne)

� Identified Over 100 near vertical veins – true widths between 3ft (1m) to over 20ft (6.1m)

� Based on 175,000ft (53,500m) of core drilling and extensive underground sampling

� Land Position - 500 Acres Patented and 1800 Acres Unpatented

�� Cross Mine Cross Mine –– CDRMS CDRMS –– M 1977410M 1977410�� Existing permit allows 70,000 tons per year mining with processing offsiteExisting permit allows 70,000 tons per year mining with processing offsite

� Boulder County Permit Expansion (Approved 2008 – SU-08-006) Allows processing on site

� CDRMS – Permit revision for on site milling – April 2011

� Increases disturbance area to 9.5 acres and Milling on Site

� Increase cash reclamation bond to $100,000.

�� Water Quality Discharge Permit COWater Quality Discharge Permit CO--0032275100322751� Existing permit to discharge excess underground mine water after treatment with lime

8

Cross Mine Permit SummaryCross Mine Permit Summary

8

� Existing permit to discharge excess underground mine water after treatment with lime

�� Storm Water Discharge Permit Storm Water Discharge Permit -- COR 040242 COR 040242

�� Air Quality Permit Air Quality Permit -- APEN APEN -- 09 BO 09 BO –– 0439 F 0439 F

�� Explosive License Number Explosive License Number -- 55--COCO--013013--3333--1H1H--00625 00625

�� MSHA MSHA -- ID Number ID Number –– 05027300502730

�� Colorado 112 Mine Expansion Permit Application (1,000 tpd)Colorado 112 Mine Expansion Permit Application (1,000 tpd)�� Apply for in Fall 2011 Apply for in Fall 2011 –– Permit expected in 2012Permit expected in 2012

Cross Mine – New On Site Mill

Surface FacilitySurface Facility

� Currently Permitted by Boulder County

� Requires Colorado Permit Updates

� Requires Tailing Impoundment - 2017

Continued Paste Backfill

9

� Continued Paste Backfill

� Initial Processing Rate – 200 tpd

� Upgrade to 1000 tpd in 2012

� Potential Underground Mill to Reduce Surface

Disturbance

�� Nevada AssetsNevada Assets� Manhattan, Nevada

� Started in 1862 – Historic Gold Production

� White Caps Mine District - 800,000 oz of Gold

� Preliminary Review

� Historic High grade gold values in limestone units that were mined underground

10

Asset SummaryAsset Summary

10

� Historic High grade gold values in limestone units that were mined underground

� Historic mining to a depth of 1300ft (396m)

� Potential for Open Pit and Underground Operations

� Historic RC Drilling by Echo Bay – 70 RC holes

� Historic Underground Production Sampling Programs

� Land Position – 3,800 Acres Patented and Unpatented

� 5.93 square miles

� Plans

� Complete Technical Reports / Property Work

� Geological Studies

� Development Drilling – RC and Core Holes

Caribou Mine

Caribou / Cross – Location Fig. 1-1

Colorado PropertiesColorado Properties

11

Cross Mine Area

Figure 1-1

Caribou Mine

Caribou / Cross – Location Fig. 2-2


12

Figure 1-2

Caribou / Cross – Location Map


13

Cross MineCross MineCaribou MineCaribou Mine

Idaho Tunnel

Elevation – 9800ft (2,987m)

Caribou / Cross Long Section – Looking N.E.


Showing Drill Hole Trace

Elevation – 8800ft (2,682m)

Distance Between Mines – 4,000ft (1,219m)

Idaho Tunnel Used for Underground Core Drilling Platform

14

Cross SectionLocation

Idaho Tunnel

Caribou MineCaribou MineCross MineCross Mine

Caribou / Cross With Major Vein System


AnacondaNo Name Vein

East & West Nelson Veins

Apache, Potosi, Juliet, Cross Veins

15

Shop

Apache SystemMain (drift): 3.0 ft @ 0.50 opt Au - 8.0 opt AgIntermediate (drill hole): 3.0 ft @ 0.50 opt Au - 7.5 opt Ag North Apache (drill hole): 3.5 ft @ 3.8 opt Au - 80 opt Ag

N

South Apache: 5.0 ft @ 0.50 opt Au 4.0 opt AgIndependent (Apache): 0.38 opt Au - 5.1 opt Ag

4th Level – 5.0 ft @ 0.50 opt Au 6.0 opt Ag

Juliet StockworkAverage mine area: 0.15 opt Au - 5.0 opt AgIndependent Grab: 0.143 opt Au - 7.13 opt Ag

Independent Grab: 3.24 opt Au - 34.3 opt Ag

New Portal

Calais ResourcesCross Mine – Adit Level

RomeoAdit Level (drift): 12.0 ft @ 0.35 opt Au 7.0 opt Ag4th Level (drift): 5.0 ft @ 0.45 opt Au 15.0 opt Ag



Cross-Caribou Mine Site – Nederland, Co.

1. Restart Cross Mine – 200 tpd2. New Decline3. New On Site Mill4. Ramp up to 1000 tpd


17

Preliminary Milling – Leadville, Co.

• Initial Milling – 100 tpd• Cross Mine – Direct Ship Ore


18

19

Caribou / Cross – Historic Resources(Pincock Alan & Holt – 2002 Not - NI 43-101 compliant )

Category

Measured and Indicated

Tons Gold (oz / ton)

[gm/tonne]

Silver (oz / ton)

[gm/tonne]

Gold (oz) Silver (oz)

Measured and Indicated

Juliet 19,000 0.18 [6.1] 0.67 [23] 3,420 252,840

Rare Metals 98,000 0.40 [13.7] 2.58 [88] 39,200 252,840

Apache 41,000 0.35 [12.0] 8.57 [293] 14,350 351,370

Potosi 8,000 0.22 [7.5] 10.84 [371] 1,760 86,720

Anaconda 35,000 0.51 [17.5] 1.15 [39] 17,850 40,250

19

Anaconda 35,000 0.51 [17.5] 1.15 [39] 17,850 40,250

No Name 133,000 0.25 [8.6] 9.67 [331] 33,250 1,286,110

East Nelson 30,000 0.11 [3.7] 13.32 [456] 3,300 399,600

West Nelson 79,000 1.78 [61.0] 71.78 [2,460] 140,620 5,670,620

Total Measured & Indicated 443,000 0.57 [19.5] 18.3 [627] 252,510 8,106,900

Inferred

Rare Metals 92,000 0.40 [13.7] 2.58 [88] 36,800 237,360

Apache 27,000 0.35 [12.0] 8.57 [293] 9,450 213,390

Potosi 7,000 0.22 [7.5] 10.84 [371] 1,540 75,880

Anaconda 30,000 0.51 [17.5] 1.15 [39] 15,300 34,500

No Name 423,000 0.25 [ 8.6] 8.88 [304] 105,750 3,756,240

Total Inferred 579,000 0.29 [9.9] 7.49 [257] 168,840 4,335,370

Total M & I & I 1,022,000 0.41 [14.1] 12.2 [417] 421,350 12,442,270

Cross / Caribou Mines - Estimated Replacement Cost

Area / Category US$ Cumulative (US$)

Cross Mine

Surface Facilities Shop and Mill Building 1,000,000 1,000,000

Underground

Drifts 5,340 ft 5,340,000 6,340,000

Raises / shafts 1,150 ft 1,725,000 8,065,000

Caribou Mine

Assets SummaryAssets Summary

Caribou Mine

Surface Facilities Shop 650,000 8,715,000

Electrical Power 3,000,000 11,715,000

Underground

Drifts 13,500 ft 14,500,000 26,215,000

Raises / shafts 1,700 ft 9,000,000 35,215,000

Exploration 175,000 ft 9,500,000 44,715,000

Permitting 500,000 45,215,000

Land Purchase 500 acres 1,560,000 46,775,000

Leadville Mill 5,000,000 US$51,775,000

Total US$51,775,00020

Underground Mining EquipmentUnderground Mining Equipment

21

Mechanized Underground Mining Equipment – Jumbo Drills

Loading and Hauling OreLoading and Hauling Ore

22

Mechanized Underground Loading and Hauling Equipment

Description 2011 2012 2013 2014 2015 2016 2017

Phase I Cross Mine – 100 tpd

Restart Cross Mine – Ship Ore to Leadville

Upgrade Leadville Mill - 200 tpd

Proposed Project ScheduleProposed Project Schedule

23

Phase II - Caribou / Cross - 1000 tpd

Core Drilling, Permitting & Feasibility Study

Construction - 1000 tpd Mill on Site

Ramp up to 1000 tpd

On - Site Tailing Impoundment

On – Going Corporate Requirements

Exploration Programs in Colorado & Nevada

Underground Mining LevelsUnderground Mining Levels

Main Adit 9693 ftApache Vein - Drift

Cross MineCross Mine

24

4th Level

9509 ft

Winze

Figure 1-4

200 tpd – Ramp Up to 1000 tpd

Cross Mine Phase IICross Mine Phase II ( Mining Sequence )

Apache Vein

Ventilation / Secondary Escapeway

Phase II b

25Figure 1-9

Level – 9409

To Be Developed

Phase I

Level - 9509

Phase II a

Phase II c

25

Silver Bricks

Caribou MineCaribou Mine

26

� 43 miles North of Tonopah, NV

� Land Position� 28 patented lode claims

� 203 unpatented lode claims

� Total of 3,798 acres

� 5.93 square miles

Manhattan Mining District

NEVADA Property NEVADA Property –– Nye CountyNye County

� Historic Gold Mining District from 1905 to 1964

� 800,000 oz of Gold Produced

� White Caps Mine

� Historic 150,000 oz Au

� Round Mountain Mine – Kinross / Barrick

� 5.0 miles to the Northwest

27

Calais ResourcesCalais ResourcesManhattan DistrictManhattan District

Nye County, NevadaNye County, Nevada

Round MountainRound MountainMine ComplexMine Complex

5 miles5 miles

Manhattan NorthManhattan NorthWild Horse Claim BlockWild Horse Claim Block

Calais Resources

Manhattan Manhattan -- Nevada District ClaimsNevada District Claims

Nye County, NevadaNye County, NevadaManhattanTown Site

White Caps Mine

Echo Bay (Kinross)Historic Open Pit Mines

N

28

White CapsLimestone

Proposed Diamond Drill Hole

2,400 ft

RC Hole – WC 55From 465 to 490 ft (25 ft)

Avg Grade – 0.70 oz Au / ton

310 Level

Elevation7600 ft

White Cap Cross SectionWhite Cap Cross Section

White Caps Cross SectionWhite Caps Cross SectionN 15 E – Looking West

Manhattan Fault

Zanzibar Limestone

1,310 Level

800 Level

29

� Complete Legal / Land Program

� US$250,000

Exploration Program – US$ 3.5 million

NEVADA Exploration ProgramNEVADA Exploration Program

� Initial NI 43-101 Technical Report, Exploration Permits and Bonding

� US$250,000

� Development Drilling – RC & Core� Phase I with 5,000 ft at US$ 35 / ft –

US$250,000

� Phase II - 20,000 ft - US$750,000

� Phase III – 30,000 ft - US$2.0 million

30

High Grade Gold & Silver Deposits� Exploration & Production

Initial High Grade Gold & Silver ResourcesInitial High Grade Gold & Silver Resources

Majority of Exploration Lies AheadMajority of Exploration Lies Ahead

31

Calais Resources SummaryCalais Resources Summary

Experienced Management Team� Seasoned operational, engineering, and executive leadership

Investment Opportunity� Near-term Capital Appreciation & Recovery

� Revenue stream from production projected to commence 2011

� Long – Term Exponential Investment Growth

31

Company Information

� Trading Symbol: CAAUF.PK

� Registered in British Columbia, Canada� Report in US$ and US GAAP - US Domestic Insurer

� Current CTO in Canada due to lack of financial reporting – Reports to be filed in February 2011

� Chairman & Corporate Officers:

� Chairman / CEO R. David Russell

email: [email protected]

32


� President and COO David K. Young, PE


NI 43-101 Qualified Person for Calais Resources

� Vice President - Exploration Thomas S. Hendricks


� Corporate Address:� Calais Resources Inc.

PO Box 653 (4415 Caribou Rd.)

Nederland, Colorado 80466-0653

Phone: (303) 258 – 3806 / Fax: (303) 258 - 0402

FORWARD-LOOKING STATEMENTSThis presentation includes certain “Forward-Looking Statements” within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. All statements regarding potential mineralization, resources and reserves, exploration results and future plans and objectives of Calais Resources, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Calais Resources expectations are disclosed under the heading “Risk Factors” and elsewhere in Calais Resources documents filed from time to time with the regulatory authorities.

Safe Harbor StatementSafe Harbor Statement

33

Warning: The Company relies upon litigation protection for forward-looking statements.

Cautionary Note to U.S Investors Concerning Estimates of Measured, Indicated and Inferred ResourcesThis presentation may use terms “Measured”, “Indicated” and “Inferred” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Drill Indicated Resources are not recognized as resources in the US or Canada. U.S. investors are cautioned not to assume that all or any part of the Measured and Indicated Resources or any other category will ever be converted to reserves. U.S. Investors are also cautioned not to assume that all or any part of the Inferred Mineral Resource exists, or is economically or legally mineable.

Looking Over the Caribou Park Area

Caribou, Colorado

Calais Resources

Documents

Transcript of Calais Resources