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    SRES   GB00B075Z681


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Sunrise Resources : Company Presentation - 3 March 2021 - Slide Deck

03/02/2021 | 06:00pm EST


Wednesday 3 March 2021

Developing a new source of industrial minerals in Nevada

Important Notice

The content of information contained in these slides and the accompanying verbal presentation (together, the "Presentation") has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). Reliance upon this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. If any person is in any doubt as to the contents of this Presentation, they should seek independent advice from a person who is authorised for the purposes of FSMA and who specialises in advising in investments of this kind.

This Presentation is being supplied to you solely for your information. This Presentation has been prepared by, and is the sole responsibility of, Sunrise Resources plc (the "Company"). The directors of the Company have taken all reasonable care to ensure that the facts stated herein are true to the best of their knowledge, information and belief. This Presentation does not constitute, or form part of, an admission document, listing particulars or a prospectus relating to the Company, nor does it constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in the Company nor shall it or any part of it, or the fact of its distribution, form the basis of, or be relied upon in connection with, or act as any inducement to enter into any contract therefor.

The information in this Presentation is provided as at the date of this presentation and as such is preliminary in nature, has not been fully verified by the Company and is subject to material amendment, updating and change. The Company undertake no obligation to provide the recipient with access to any additional information or to update this Presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This document sets out certain features of the Company and does not purport to provide a complete description of the Company or the shares in the Company.

No reliance may be placed for any purpose whatsoever on the information contained in this Presentation or on its completeness, accuracy or fairness thereof, nor is any responsibility accepted for any errors, misstatements in, or omission from, this Presentation or any direct or consequential loss however arising from any use of, or reliance on, this Presentation or otherwise in connection with it. By accepting this Presentation you confirm, represent and warrant that you have consented to receive information in respect of securities of the Company and other price-affected securities (as defined in the Criminal Justice Act 1993 ("CJA")) which makes you an "insider" for the purposes of Part V of the CJA, and you agree not to deal in any securities of the Company until such time as the inside information (as defined in the CJA) of which you have been made aware has been made public for the purposes of the CJA.

This Presentation may not be reproduced or redistributed, in whole or in part, to any other person, or published, in whole or in part, for any purpose without the prior consent of the Company. The contents of this Presentation are confidential and are subject to updating, completion, revision, further verification and amendment without notice.

The Presentation is being distributed on request only to, and is directed at, authorised persons or exempt persons within the meaning of FSMA or any order made thereunder or to those persons falling within the following articles of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Financial Promotion Order"): Investment Professionals (as defined in Article 19(5)) and High Net Worth Companies (as defined in Article 49(2)). Persons who do not fall within any of these definitions should not rely on this Presentation nor take any action upon it but should return it immediately to the Company. This Presentation is exempt from the general restriction in section

21 of FSMA relating to the communication of invitations or inducements to engage in investment activity on the grounds that it is made only to certain categories of persons.

Neither this Presentation, nor any part of it, nor anything contained or referred to in it, nor the fact of its distribution, should form the basis of or be relied on in any connection with or act as an inducement in relation to a decision to purchase or subscribe for or enter into any contract or make any other commitment whatsoever in relation to any such securities. Recipients of this Presentation who decide to subscribe for the new ordinary shares in the Company are reminded that any application to so subscribe may only be made on the basis set out in the formal placing letters. In particular, details included in this Presentation are subject to updating, revision, verification and amendment and refer to events as having occurred which have not occurred at the date of this presentation but which are expected to happen in the future. This Presentation does not constitute a recommendation regarding the securities of the Company. By receiving and/or attending this Presentation, you agree to be bound by the restrictions in this disclaimer. If you are in any doubt about the investment to which this Presentation relates, you should consult a person authorised under FSMA who specialises in advising on the acquisition of shares and other securities.

Neither this Presentation nor any copy of it should be distributed, directly or indirectly, by any means (including electronic transmission) to any persons with addresses in the United States of America (or any of its territories or possessions) (together, the "US"), Canada, Japan, Australia, the Republic of South Africa or the Republic of Ireland, or to any corporation, partnership or other entity created or organised under the laws thereof, or in any other country outside the United

Kingdom where such distribution may lead to a breach of any legal or regulatory requirement. The recipients should inform themselves about and observe any such requirements or relationship.

The Company's ordinary shares have not been, and are not expected to be, registered under the United States Securities Act 1933, as amended, (the "US Securities Act") or under the securities laws of any other jurisdiction, and are not being offered or sold, directly or indirectly, within or into the US, Canada, Japan, Australia, the Republic of South Africa or the Republic of Ireland or to, or for the account or benefit of, any US persons or any national, citizen or resident of the US, Canada, Japan, Australia, the Republic of South Africa or the Republic of Ireland, unless such offer or sale would qualify for an exemption from registration under the US Securities Act and/or any other applicable securities laws.

Forward-looking Statements

This Presentation or documents referred to in it contain forward-looking statements. These statements relate to the future prospects developments and business strategies of the Company and its subsidiaries (the "Group"). Forward-looking statements are identified by the use of such terms as "believe", "could", "envisage", "estimate", "potential", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The

forward-looking statements contained in this Presentation are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialises, or if underlying assumptions prove incorrect, the Group's actual results may vary materially from those expected, estimated or projected. Given these risks and uncertainties, potential

investors should not place any reliance on forward-looking statements. These forward-looking statements speak only as at the date of this Presentation. No undertaking, representation, warranty or other assurance, expressed or implied, is made or given by or on behalf of the Company or any of its directors, officers, partners, employees or advisers or any other person as to the accuracy or the completeness of the information or opinions contained herein and to the extent permitted by law no responsibility or liability is accepted by any of them for any such information or opinions. Notwithstanding the aforesaid, nothing in this paragraph shall exclude liability for any representation or warranty made fraudulently. This Presentation contains statements regarding the past performance of the Company's ordinary shares. Past performance cannot be relied upon as a guide to future performance

Aim & Strategy


To to be self-funding through the development of profitable mining projects.


  • Priority is to develop the CS Pozzolan-Perlite Project through to production

    Industrial minerals projects have the greatest potential to achieve an early cash flow as these typically have fewer permitting issues enabling production to advance more quickly than base or precious metal projects.

  • To unlock the value inherent in our other mineral projects through exploration, joint venture, sale or other arrangements.

    Significant value creation for shareholders in junior mining companies comes from early drill-discovery of mineral deposits.

Focus - Nevada, USA


  • Voted top jurisdiction in the world for investment based on the Investment Attractiveness Index (Frazer institute Annual Survey of Mining Companies 2020).

  • One of the top gold producing jurisdictions in the world.

  • Is a significant producer of copper and industrial minerals.

  • 63% public lands (forty-eight million acres) where mineral rights can be "claimed" under Mining Law

    of 1872.

  • Has a robust mine permitting process.

About Pozzolan

Pozzolan is a silica or silica and aluminium rich material which will, in the presence of moisture, chemically react with lime at ordinary temperatures to form compounds possessing cement-like properties.

Pozzolans can be:

  • Industrial by-products e.g. coal-fired power station fly ash, blast furnace slag, etc.

  • Natural - various glassy volcanic materials such as tuff, tephra, pumice & perlite (e.g. CS Project deposits)

The Romans were the first to use natural pozzolan on a grand scale to construct public buildings, monuments, & infrastructure such as roads and ports, many of which have endured for over 2,000 years

… in contrast, modern concretes using Portland cement without the addition of pozzolan are susceptible to "concrete cancer" (alkali-silica attack) after just a few tens of years

Pozzolans are used to partially replace ordinary Portland cement in mortars and concrete mixes in amounts up to 35% and can improve the strength and chemical resistance of concrete.

Industrial pozzolans, mainly fly ash, have become widely used in concrete since the 1970s.

Pozzolan's Market Opportunity

Combatting climate change is increasingly a driver of industrial change:

Major trends:

  • Move to renewables.

  • Phasing out of coal-fired power stations.

  • Reducing CO2 emissions.

Under the Biden Plan:

100% clean energy economy and net-zero emissions no later than 2050.

Fly ash supplies declining as coal fired power stations close.

Production of Portland cement is responsible for 5% of the global man- made carbon dioxide emissions. One tonne of cement = one tonne of CO2.

Integrated Cement and Ready-Mix companies (CRMCs) under strong pressure to reduce carbon footprint by using less ordinary Portland cement and improve the longevity of concrete structures.

Substitution of natural pozzolan for cement in concrete:

  • Reduces CO2 emissions.

  • Substantially reduces the impact of concrete cancer.

Despite Covid-19 pandemic construction in US increased 4.3% IN 2020 over 2019 levels (Sources:www.constructconnect.com).

CS Pozzolan - Markets

California and Nevada are the most affected states in the fly ash supply crisis as:

  • Most distant from main power plant sources in mid-west and eastern states (no significant fly ash production in N. California or Nevada).

  • Supplies from Navajo power plant in Arizona, the largest plant west of the Mississippi and 3rd largest emitter of CO2 in US, ceased as plant closed in late 2019.

  • 13 coal fired power stations in the US announced closure plans in 2020.

Current market for pozzolans in Nevada and California is approx. 1.4 million tons.

Natural pozzolan pricing estimate $90-120 as fly ash replacement depending on market location.

Northern California


  • Adjacent to County maintained road

  • Adjacent to 120KV power line

  • 9 miles off Highway 6

  • 20 minutes from Tonopah (regional town)

Perlite - Uses and Markets

Perlite is a glassy volcanic raw material which, when heated in a furnace, pops like popcorn and expands up to 20 times in volume into a white or pale coloured, low density material used in various household and industrial applications such as:

Horticulture (Coarse perlite - 16% of total usage)

  • A potting medium in gardening and horticulture to aid water retention and aeration and a favoured growing medium for cannabis.

Producers of horticultural grade perlite are reporting record sales volumes.

Construction uses medium and fine perlite (84% of total usage)

  • Insulation.

  • Paint texturing, plaster and concrete fillers.

  • Ceiling tiles and wallboard jointing compounds.

  • Fire proofing.

  • Industrial cryogenic storage vessels (e.g. LNG Tankers).

Demand linked to construction industry demand - especially retail construction up 9.6% in 2020.

Other major use of fine perlite is in beer and wine filtration.

Dicaperl Minerals LLC announced (1 March 2021) 20% price increases up to 20% across their perlite ore and expanded perlite products in North America.

CS Perlite - Markets

  • World production 3.4 million tonnes (USGS2020) : China 38%, Turkey 19%, Greece 21%, USA 15%

  • US Consumption 610,000 tons consumed, 31% imported (USGS 2020)

  • Only three large perlite mines - all now downstream integrated with their own expansion plants

  • Numerous expansion plants in 27 states. Many are independent with no captive mine supply

  • Last independent mining company now taken over by multinational and moving down stream to compete with its customers

  • Opportunity to supply raw perlite to independent expanders

  • Raw perlite (horticultural grade) : c $90-100/ton ex-mine

  • Expanded Perlite average $350/t >$850/t for filter grade

Pozzolan & Perlite Deposits

CS Project - Main Zone Pozzolan

In the Main Zone perlite caps large deposits of pozzolan that form hills and extend below the level of the plane for at least 150ft

Northeast ZoneTruck for scale

Main Zone

CS Project - Tuff Zone

In the Tuff Zone large deposits of pozzolan extend along the hillside and to depths of at least 200ft in drill holes

Tuff Zone

Truck for scale

CS Project - Northeast Zone

  • Largely unexplored Northern Main Zone & NE Zone

  • Large basin of tephra type volcanic pozzolan - two drill holes to date.

  • Large tonnage potential

Mine Permitting in Nevada

Mine Permitting Process on public land based on surface disturbance and:

Exploration/sampling: <5 acres disturbance - Notice Level >5 acres (most advanced projects) - Environmental Assessment of Exploration Plan under NEPA (National Environmental Policy Act)

Mine Plan of Operations: Under NEPA

  • If no Significant Environmental Impact - Environmental Assessment

  • Significant Environmental Impact - Environmental Impact Statement

Notice level Exploration Drilling

( <5 acres disturbance)

NEPA Exploration plan (extensive drilling /trial mining)

(> 5 acres disturbance)

NEPA Mine Plan

Environmental Assessment (EA)

NEPA Mine Plan

Environmental Impact Statement (EIS)

Metallic Deposits

Notice: I month

EA: 2 years

EA: 2 Years

EIS: 2-5 years


Notice: I month

Unable to take large bulk samples due to acreage limits (has impacted customer trials)

Not undertaken

Industrial minerals have more continuity and lower resource risk

Keen to shorten overall time frame for production

EA: 2 years

Now able to take large bulk samples under approved Plan of Operations

Not applicable as no toxicity issues or chemical processing

CS Project - Mine Plan

Approved Mine Plan - Mine to be developed in phases:

27-year mine plan includes four-phase pit design targeting production of:

  • 14.5 million tons of pozzolan starting at rate of 100,000t per year climbing up to 500,000t per year.

  • 1.3 million tons perlite starting at minimum rate of 20,000t per year climbing up to 100,000t per year (for 15 years).

Low strip ratios: 0.25 tons waste per ton ore in Main Zone, 0.16 in Tuff Zone, most waste mined after Year 8.

Mining in Main Zone in years 1-15.

Mining in Tuff Zone in years 15-27.

CS Project - Mine Permitting

Major mine permitting work completed

(September 2020)

  • Project is on Federally owned land - Lead regulatory authority is US Bureau of Land Management (BLM).

  • Mine Plan authorised by BLM.

  • Reclamation permit issued by Bureau of Mining Regulation & Reclamation.

  • Air Quality Operating Permit approved by Nevada Division of Environmental Protection.

  • Road use/indemnity and maintenance agreement in place with County.

  • Transmission use Agreement in place with NV Energy.

  • Right of Ways granted for water well development.

  • Water rights leased from Liberty Moly.

  • Water permit granted by Nevada Division of water Resources.

  • Minor short lead-time permits to be obtained prior to mine start-up.

CS Project's Green Credentials

Maximum annual production of natural pozzolan from the Project would displace over 500,000 metric tpy of CO2 production that could otherwise be emitted from an equivalent tonnage of Portland cement production and consumption in the absence of natural pozzolan and/or fly ash replacements or CO2 capture.

Equivalent to:

  • average annual CO2 emissions from over 10,400 US households, or

  • the carbon sequestered by over 8.2 million tree seedlings grown for ten years (EPA 2019b), or

  • 65 percent of the incremental CO2 emissions resulting from annuAalsnoeltumtiiogrna:tiVonolinctaonNicevtaudffasinan2d019.


Natural pozzolan in the making


Low Capital Cost Start up Option (c. $1m) - Sell run of mine ore to cement companies - Commercial trials in progress.

Low risk, lower cost but lower value product.

Investment Option (c.$20-30m) - Build a grinding facility (off site) to produce a fine ground pozzolan for sale to the cement and ready-mix concrete markets.

Requires capital investment - higher value product with larger market.


Low Capital Cost Start up Option (c.$2-3m)

Produce only coarse horticultural grade raw perlite using contract mobile crushing and screening operation.

Low risk, lower cost single perlite product with by-product pozzolan for sale to cement companies.

Investment Option (c. $10 million) - Build a fixed perlite processing plant to produce a range of perlite products for horticulture and industrial applications. Preliminary plant design completed.

Require higher capital investment but achieves higher utilisation of the perlite resource for perlite markets.

Perlite screening plant Milos, Greece

CS Pozzolan - Commercial Trials

Stage 1 - 2019

  • 100-ton bulk sample mined and submitted to potential customer (cement company).

  • Bulk sample ground in production clinker mill to produce a finished ground pozzolan product.

  • Tested for compliance with ASTM C618.

  • Scale up from lab results confirmed.

------------------------------------------------------------------------ [2019-2020 Break for Mine Permitting] ------------------------------------------------------------------------

Stage 2 - 2020-21

  • 500-ton bulk sample mined and submitted to large cement and ready-mix company (CRMC).

  • Scheduled for grinding by end March 2021.

  • Ground pozzolan to be tested in a number of real-world concrete jobs.

CS Perlite - Commercial Trials

Stage 1 - 2018-19

  • Few tons of graded perlite submitted to two separate potential customers where offtake MOUs already in place.

  • Short commercial scale test runs completed.

  • Expanded horticultural grade perlite produced with good yields in good agreement with laboratory tests.

-------------------------------------------------------------------- [2019-2020 Break for Mine Permitting] --------------------------------------------------------------------

Stage 2 - 2020-2021 Ongoing

  • 100-ton bulk sample processed to produce graded perlite - submitted to multiple separate potential customers including Stage 1 customer.

  • Sample crushed and screened too fine.

  • 200-ton sample extracted December 2020, further tests planned

CS Project - CRMC 500-ton bulk sample December 2020

CS Project - Perlite 200-ton bulk sample December 2020

CS Project - Perlite Processing 2020

Crushing plant Screening plant

Bagged Perlite Product

Screening plant

NewPerl Perlite Project

A future source of feed for the CS Project?

  • Located 85 miles from CS Project.

  • Company prospecting discovery following up anomalous areas identified using in-house exploration technique that led to discovery of CS Project deposits.

  • Large hills of outcropping perlite discovered. In two areas - NewPerl and Jackson's Wash.

  • Initial application testing suggests NewPerl perlite is suitable for production of horticultural grade expanded perlite.

  • Drill programme planned and permitted.

Historic Exploration

Significant silver intersections in historic drilling with a number of holes ending in mineralisation, e.g.

Hole CL-15: 7.6m grading 4.8 troy ounces/ton (165 grammes/tonne) silver from 82.3m depth to the base of hole.

A number of holes ended in mineralisation or did not reach the target depth. Grades were thought to be understated due to loss of fine silver-bearing sulphide minerals during the RC drilling programme.

Drill Hole completed in October 2020 to twin historical hole CL-15.

Drilling completed October/November 2020

Ground conditions very difficult - highly fractured - significant core loss and broken core in the mineralised intervals.

Massive quartz vein and quartz breccia intersected in target zone between 83.52m and 91.44m downhole (true thickness unknown) containing fine grained disseminated sulphides including mineral logged as the silver sulphide mineral acanthite.

Baker's Gold Project - Australia

  • Drilling provisionally scheduled for end of March 2021.

  • Archaeological (Aboriginal site) survey completed for drill sites access, etc.

  • Ethnographic survey completed for the whole of the Bakers Project.

  • No archaeological sites were identified within the three proposed drill areas, and

  • No ethnographic issues were identified by Yugunga-Nya representatives as being within tenements P51/2837 and P51/2884.

Baker's Gold Project - Drill Targets

Meekatharra 25km

DLR 4 target

Broad gold-in-soil


DLR04 Target



Patrick Cheetham

David Swan

Roger Murphy

Executive Chairman

Senior Non-Executive

Non-Executive Director


A geologist with 40 years

Formerly CEO Power

in exploration

Chartered Accountant.

Metal Resources plc and

management and 35

Former Group Leader in

MD Investment Banking,

years as executive

Mining and Resource

Dundee Securities

director of publicly

Group, Ernst & Young,

Europe Ltd. Worked as a

traded companies.

Sydney and former CFO

geologist for various

Currently Executive

of Oriel Resources.

companies, including

Chairman Tertiary

Currently a director of

Anglovaal Mining and

Minerals plc.

Central Asia Metals plc.

British Petroleum.

3 March 2021

Key Advisers & Consultants

Buster Hunsaker (Hunsaker Inc.)

A geologist engaged in exploration and evaluation of mineral deposits since the 1980's. Hunsaker Inc. has been providing full-service geological consulting and project management to minerals exploration companies since 1995, primarily in the western United States.

Joe Thomas (Magmatics Inc.)

An acknowledged expert on the application of natural pozzolans and is a voting member of both the ASTM1 and ACI2 pozzolan committees. 20 years' involvement in the development of natural pozzolan products for market including over 16 years as Vice President - R&D at Hess Pumice Products, a leading producer of natural pozzolan in Idaho.

Tom Adams (KMR Collaborative)

A geomaterials engineer with strong technical and marketing focus on construction aggregates, industrial minerals and cementitious materials including natural pozzolan. Formerly with Nevada Cement Company providing technical support to the development of its natural pozzolan business. President of the Sierra Nevada Concrete Association.


A specialist company providing testing and consulting services for a range of industrial minerals with an emphasis on perlite. Company principals have technical and managerial backgrounds with S & B (now part of Imerys) in perlite mining and processing operations.


Working in the world's best mining jurisdictions - Nevada, USA and Western Australia.

CS Project in Nevada has large deposits of both natural pozzolan and perlite - not a single commodity project.

  • Both products are experiencing strong market growth in the construction and horticultural industries and seeing price increases.

  • Climate change is now a major driver for industrial change - set to accelerate under Biden's New Green Deal - both products will benefit.

  • Relatively low capital costs for development - low costs options being evaluated first.

  • Permitted for production - long life mine plan.

  • Commercial trials in progress - both products.

Portfolio of precious metal projects at the drill stage and have potential for transformational mineral discovery and value adding:

  • Drilling results imminent for the Clayton Silver-Gold Project, Nevada.

  • • Drilling planned for Baker's Gold Project, W. Australia at end of March



Sunrise Resources plc



Sunrise Resources plc published this content on 03 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2021 13:37:03 UTC.

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