A-1 - Lupaka Gold Corp.

A Peru-Focused Gold Developer | March 2015
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LUPAKA GOLD CORP.
1
IMPORTANT CAUTIONARY STATEMENTS
Qualified Person
The technical information in this presentation, other than metallurgical and processing information, has been reviewed and approved by Julio Castañeda Mondragon, MAIG, the President of Lupaka Gold Peru S.A.C.,
a Peruvian subsidiary of the Company, and a Qualified Person as defined by National Instrument 43-101. Mr. Castañeda has verified the scientific and technical information, including sampling, analytical and test data
underlying the information or opinions contained in this presentation.
The metallurgical and processing information in this presentation has been reviewed and approved by Roger Amelunxen, President of Aminpro Mineral Processing Ltd. of Canada and Chile, P.Eng with the APEGBC
and a consultant to the Company, and a Qualified Person as defined by National Instrument 43-101. Mr. Amelunxen was directly involved in handling all of the test work at Aminpro-Peru, and has verified the
metallurgical and processing information contained in this presentation.
The Crucero A-1 mineral resource estimates referred to in this presentation are disclosed in the technical report with effective date January 17, 2013, amended and re-stated October 22, 2013, titled "Technical
Report for the Crucero Property, Carabaya Province, Peru", and prepared by Tetra Tech WEI Inc. and SRK Consulting (Canada) Inc. The Technical Report is available at www.sedar.com under Lupaka Gold's profile.
technical report dated April 16, 2012, titled "Technical Report on Resources, Invicta Gold Project, Huaura Province, Peru", and prepared by SRK Consulting (U.S.) Inc. (“SRK Technical Report”), which is available at
www.sedar.com under Lupaka Gold Corp's profile.
The Invicta mineral resource estimates referred to in this presentation are disclosed in the technical report dated April 16, 2012, titled "Technical Report on Resources, Invicta Gold Project, Huaura Province, Peru",
and prepared by SRK Consulting (U.S.) Inc. (“SRK Technical Report”), which is available at www.sedar.com under Lupaka Gold Corp's profile.
Cautionary Note Regarding Invicta Production Decision
The decision to commence production at the Invicta Gold Project and the Company’s plans for a mining operation as disclosed herein (the “Production Decision and Plans”) were based on economic models prepared
by the Company in conjunction with management’s knowledge of the property and the existing preliminary estimate of measured, indicated and inferred mineral resources on the property. The Production Decision
and Plans were not based on a preliminary economic assessment, a pre-feasibility study or a feasibility study of mineral reserves demonstrating economic and technical viability. Accordingly, there is increased
uncertainty and economic and technical risks of failure associated with the Production Decision and Plans, in particular the risk that mineral grades will be lower than expected, the risk that construction or ongoing
mining operations are more difficult or more expensive than expected, the risk that the Company will not be able to transport or sell the mineralized rock it produces to local custom toll mills on the terms it expects,
or at all; production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis according to and in accordance with NI 43-101.
Forward Looking Information and Regulatory Endnotes
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking
information"). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and
does not assume any obligation, to update this forward-looking information. Forward-looking information in this news release includes all of the plans and expectations described above regarding the exploration and
development of the Company’s properties, including the commencement of planned mining operations at the Invicta Gold Project and the availability of cash generated from such operations, the use of proceeds
from the Placement and estimates of mineral resources. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled",
"projects", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could",
"would", "might", or "will" be taken, occur or be achieved. The forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, including, that
supplies, equipment, personnel, permits, required financing and local community approvals required to conduct the Company's planned exploration and development activities will be available on reasonable terms,
that results of exploration activities will be consistent with management's expectations and that the Company will not experience any material accident, labour dispute, or failure of equipment and with respect to
the planned mining operations at Invicta: that pre-production mine development can be completed in the time and for the cost projected; that the Company will be able to obtain required funding for expenses of
the planned production; that mineralizations on the Invicta project will be of the grades and in the locations expected; that the Company will be able to extract and transport mineralized rock efficiently and sell the
mineralized rock at the prices and in the manner and quantities expected; that permits will be received on the terms and timeline expected and that other regulatory or permitting issues will not arise; that mining
methods can be employed in the manner and at the costs expected and that such methods yield the results the Company expects them to; and that supplies, equipment, personnel, permits and local community
approvals required to develop and conduct the planned production will be available on reasonable terms. The Company’s assumptions with respect to mineral resource estimates include all of the key assumptions
and parameters on which such estimates are based, as described in the technical report referred to in this news release. However, forward-looking information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forwardlooking information. Such risks, uncertainties and other factors include, among others: all of the risks described in this news release; the risk that actual results of exploration activities will be different than
anticipated; that cost of labour, equipment or materials will increase more than expected; that the future price of gold will decline; that the Canadian dollar will strengthen against the U.S. dollar; that mineral
resources are not as estimated; unexpected variations in mineral resources, grade or recovery rates; risks related to shipping mineralized rock; the risk that local mills cannot or will not buy or process mineralized
rock from the planned production for the prices expected or at all; risk of accidents, labour disputes and other risks generally associated with mineral exploration; unanticipated delays in obtaining or failure to obtain
community, governmental or regulatory approvals or financing; and all of the risks generally associated with the development of mining facilities and the operation of a producing mine; as well as the risks described
in the Company’s annual information form, which is available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on
forward-looking information due to the inherent uncertainty thereof.
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Quality Control and Assurance
The analyses for this sampling campaign were carried out by Alfred H. Knight (“AHK”), an accredited independent laboratory, in Lima, Peru, exercising a thorough Quality Assurance and Control program (QA/QC).
AHK labs is ISO/IEC 17025:2005 and ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 accredited and compliant.
2

Commencing gold production in 2015 at
the Invicta Gold project

Josnitoro Gold Project exploration JV with
Hochschild Mining near Las Bambas
copper project in Apurimac

2 million oz pit constrained gold resource
at the Crucero Gold project

Strong Peruvian professional team and incountry experience

Geographic balance and diversification

Cash flow potential in 2015
2As
at October 31, 2013.
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PERU-FOCUSED GOLD DEVELOPER
3








Outstanding mineral exploration potential
Government supportive of resource development and
commodity export
World Class Discoveries: Yanacocha, Pierina, Antamina
World mining heavyweight jurisdiction(1)
 #2 in Silver
 #2 in Copper
 #6 in Gold
Investment Grade Status bonds (Fitch, S&P and Moody’s)
Free Trade Agreements with U.S., Canada, China
S&P recently raised rating to BBB+
Culture of mining
(1) Source: Peruvian Ministry of Energy and Mines
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PERU – STRONG MINING ENVIRONMENT
4
PROVEN EXPLORATION ABILITY
Moz
4.0
3.5
3.0
Gold Equivalent Resource Estimates Growth
Invicta Inferred
(1)

Invicta in
development with
production planned in
2015

Invicta resource open
to further gold
exploration
discoveries

Crucero and Invicta
are 100% owned

Crucero 2013
resource update
based on 22,959m
drilling

Crucero resource
entirely within A1
zone – ten other
anomalies undrilled
Invicta Indicated
Crucero Inferred (2)
Crucero Indicated
0.24 Moz
0.24 Moz
2.5
0.97 Moz
0.97 Moz
2.0
1.5
0.65 Moz
1.0
0.5
1.03 Moz
0.41 Moz
1.14 Moz
0.81 Moz
0.79 Moz
2010
2011
1.00 Moz
0.0
2012
(1) NI 43-101 Technical Report for the “Invicta Gold Project, Huaura Province, Peru”,
prepared by SRK Consulting, dated April 16, 2012 and filed on SEDAR.
(2) NI 43-101 Technical Report for the “Crucero Property,Carabaya Province, Peru”,
prepared by Tetra Tech & SRK Consulting 43-101 Independent Technical Report, dated
October 2013 and filed on SEDAR.
2013
Crucero
Pit-Constrained
Resource
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GROWTH IN TOTAL GOLD RESOURCES
5
INVICTA GOLD PROJECT:
MID-YEAR 2015 PRODUCTION PLANNED
 Permitted for Mine
Operations
 Positive Cash-flow
potential in 2015
 Primary 1.2 km
development in place
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 Mineralization
exposed in 200 m of
crosscut
 2014 Metallurgical
testing >86%
recovery(1)
6
Note (1) - Lupaka Gold press release October 28, 2014
INVICTA GOLD PROJECT: OVERVIEW
 Progress through 2014 & Q1 2015:
 Certificate Of Mining (“COM”) permit
received
 Mine engineering and detailed 6-year
production plan completed
 Metallurgical test work and flow sheet
finalized
 Block model grades confirmed with bulk
sampling
 Community engagement for operations
 Final EIA amendment proposal filed
 Explosives permits filed following
construction/inspection of magazine
 Community support:
 Agreement in place for concession area
 Agreement pending for transport
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 Existing Federal Permit (EIA for mine
operation) & Certificate of Mining (COM),
closure plan, archeological certificate, water
license, and community agreement
7
INVICTA GOLD PROJECT
2014 METALLURGY UPDATE
Recovery results – October 2014
Recovery of metal in Concentrate Streams (%)
Concentrate
Au
Ag
Pb
Cu
Zn
Fe
Copper (Cu)
72.2
31.6
21.6
80.3
24.8
10.8
Lead
(Pb)
14.6
43.0
70.5
12.0
20.8
2.6
Zinc
(Zn)
4.9
6.0
0.9
1.1
43.0
33.3
94.6%
94.6%
96.8%
97.8%
95.3%
52.8%
Ag
g/t
461
1201
41
Pb
%
6.5
40.9
0.13
Cu
%
29.2
8.4
0.19
Zn
%
4.7
7.5
3.8
Fe
%
27
12.6
38.9
Global Recovery 1
Table 2: Concentrate Grades Per Tonne
Au
Concentrate
g/t
Copper (Cu)
79
Lead
(Pb)
30.5
Zinc
(Zn)
2.5
Note 1 – Individual recoveries stated in the table values cannot be directly added to determine Global Recovery. Global Recovery includes all streams not reporting to tails.
As an open circuit test, not all of the streams assayed were concentrates, some were tailings that under operating conditions will be re-circulated, get cleaned and ultimately
report to the concentrate streams.
The metallurgical test work and associated engineering was executed at the Aminpro Mineral Processing Ltd. laboratory in Lima on underground samples with assays
ranging between 4-7 g/t Au, 54 and 103 g/t Ag, 1.6 – 2.3% Pb, 1.6 – 2.5% Cu and 1.3% Zn. Lab test work showed that the precious metals and Pb, Cu and Zn respond well to
flotation. The Invicta concentrates are also not expected to incur charges for penalty elements, as values reported for As, Sb and Bi in the concentrates are below 0.03%.
See Lupaka Gold press release October 28, 2014 for further information.
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Flotation concentrate grades
8
INVICTA GOLD PROJECT
2014 RESOURCE BLOCK MODEL
Recent Sampling Confirms Block Model
Footwall split
Hanging wall split
Length
Meters
105
125
Width
Meters
6.40
6.16
Au
gpt
6.38
2.15
Ag
gpt
83.00
59.22
Cu
%
1.68
1.52
Pb
%
0.79
1.87
Zn
%
0.75
0.70
The mineral resource estimates referred to in this presentation
are disclosed in the technical report dated April 16, 2012, titled
"Technical Report on Resources, Invicta Gold Project, Huaura
Province, Peru", and prepared by SRK Consulting (U.S.) Inc. (“SRK
Technical Report”), is available at www.sedar.com under Lupaka
Gold Corp's profile. See press release of July 10, 2014 for further
information.
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Atenea Vein
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INVICTA PRODUCTION STRATEGY
Invicta resource block model:
Red blocks > 6 g/t Eq Au
(1) – Managements objectives based on internally generated geology and engineering estimates. Timeframes to
commissioning of production may be extended based on metals prices, ability to finance, continued exploration success,
permitting delays, contractor performance, and other factors beyond management control.
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Highest Grade Blocks Accessible through Existing Development(1)
10
INVICTA GOLD PROJECT
2014 SAMPLING OF EXPOSED MINERALIZATION
Results Confirm Block Model *
Weighted
averages
Length (meters)
Width (m)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
5.05
4.05
29.43
1.26
0.20
0.5
8.30
3.19
20.81
0.69
0.12
0.87
4.15
3.43
72.31
2.79
0.67
0.59
6.90
5.96
116.19
2.38
2.36
0.87
5.00
2.07
49.76
1.77
0.45
0.66
9.00
14.72
168.36
1.74
0.76
0.83
6.40
6.38
83.00
1.68
0.79
0.75
105.00
ATENEA 3400 SW - hanging wall
Split
Weighted
averages
Length (meters)
Width (m)
Au g/t
Ag g/t
Cu %
Pb %
Zn %
3.75
0.41
37.37
1.26
0.78
0.29
5.45
2.41
86.65
1.13
0.47
0.48
6.65
5.55
53.97
1.62
2.36
0.91
7.50
2.96
84.68
2.33
3.87
1.1
5.60
1.00
56.78
1.83
2.19
0.83
8.00
1.41
32.96
0.86
0.53
0.39
6.16
2.15
59.22
1.52
1.81
0.70
125.00
* - see
Lupaka Gold
press release
of July 10,
2014
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ATENEA 3400 SW - footwall Split
11
INVICTA GOLD PROJECT
RESOURCE BLOCK MODEL & PRODUCTION SCHEDULE
Resource Block Model Mineralization Accessible from Existing Infrastructure *
Total





Elevation
m
3359
3383
3407
3431
3455
Tonnes
T
159,751
154,010
163,812
101,200
81,431
660,204
Width
m
18.36
13.53
14.92
7.91
14.22
14.27
Au
g/t
6.43
5.48
5.26
5.2
4.32
5.47
Ag
g/t
33.25
29.74
40.89
45.31
38.45
36.82
Cu
%
1.13
0.84
0.91
0.94
0.89
0.95
Pb
%
0.25
0.37
0.56
0.55
0.26
0.4
Excellent exploration opportunities, resource could increase as development
provides access to high-grade intercepts
1,200 meters of existing primary development and haulage tunnels
Mine development intersects highest grade areas within the Atenea Vein
Value of resources is ~73% Gold and ~27% Copper
Multi-phased mesothermal Au-Ag and base metal mineralization
* - see Lupaka Gold press release of June 19, 2014
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Invicta
Block Model
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INVICTA GOLD PROJECT
13
INVICTA UNDERGROUND WORKINGS
Primary Development
1.2 km adit
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INTERSECTING THE HIGHEST GRADE
AREAS WITHIN ATENEA VEIN
14
INVICTA GOLD PROJECT
Atenea Vein
1)
2)
3)
Up to 25 meters thickness
Continuous along strike
Open at depth
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REPRESENTATIVE ATENEA VEIN CROSS-SECTIONS
15
LUPAKA’S PRODUCTION STRATEGY
Existing Development(1)
Over $15.0 million
invested in mine
development by
previous owners
(1) – Managements objectives based on internally generated geology and engineering
estimates. Timeframes to commissioning of production may be extended based on metals
prices, ability to finance, continued exploration success, permitting delays, contractor
performance, and other factors beyond management control.
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Existing Development:
• Primary haulage
• Ore drifts
• Cross cuts
16
LUPAKA’S PRODUCTION STRATEGY
Mining Method(1)
Production Mining:
Sub-Level Open Stoping
Sub-Level Open Stoping (SLOS)
• Productive and cost effective
method
• Used for the remainder of mine life
• Scalable for higher production
tonnages
Development Mining:
Drift and Fill (D&F)
• Used for initial 12 months of production
• Used for wider than 10 m mineralization
• Same equipment and crews could be
used for development and production
(1) – Managements objectives based on internally generated geology and engineering
estimates. Timeframes to commissioning of production may be extended based on metals
prices, ability to finance, continued exploration success, permitting delays, contractor
performance, and other factors beyond management control.
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Mechanized cut and fill (MCF)
• Used for initial development in ore
17
LUPAKA’S PRODUCTION STRATEGY
Invicta
Elevation
Tonnes
Au
Ag
Cu
Pb
Zn
NSR
Block Model
m
t
g/t
g/t
%
%
%
$/t
3427 -> 3431
14,266
6.65
48.86
1.08
0.55
0.59
263.53
3423 -> 3427
18,848
6.84
50.05
1.12
0.56
0.57
271.29
3419 -> 3423
21,191
6.79
47.83
1.07
0.56
0.55
266.7
3415 -> 3419
23,158
6.61
44.68
1
0.56
0.56
257.52
3411 -> 3415
25,541
5.96
39.56
0.9
0.51
0.53
231.82
Adit
3407 -> 3411
26,164
5.59
36.23
0.84
0.46
0.48
216.87
Above adit
Total
129,168
6.34
43.72
0.98
0.53
0.54
248.38
3403 -> 3407
25,850
5.64
35.11
0.84
0.43
0.43
217.65
3399 -> 3403
25,654
5.85
33.96
0.86
0.4
0.39
223.58
3395 -> 3399
25,281
6.18
33.85
0.9
0.4
0.38
234.72
3391 -> 3395
26,247
6.44
33.65
0.93
0.4
0.37
243.45
3387 -> 3391
26,425
6.65
34.1
0.99
0.39
0.35
251.92
3383 -> 3387
27,870
6.7
34.31
1.04
0.38
0.34
255.13
157,327
6.25
34.16
0.93
0.4
0.38
238.06
Below adit
Total
(1) – Management’s objectives based on internally generated geology and engineering
estimates. Timeframes to commissioning of production may be extended based on metals
prices, ability to finance, continued exploration success, permitting delays, contractor
performance, and other factors beyond management control.
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Highest Grade Blocks Around Existing Adit(1)
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INVICTA UNDERGROUND WORKINGS
EXISTING INFRASTRUCTURE
19
LUPAKA’S PRODUCTION STRATEGY(1)
Completed
Resource block modelling
Mining production schedule
Conceptual engineering
Contractor RFQ & site visits
Permit/license preparation
Community Engagement
Metallurgical Testing
Block Model confirmation
Final EIA/License Amendment filed
Final EIA/Licenses Received
Engineering & Mine Design
Selection of contractors
Process Plant secured
Production decision point
Community agreement
Mobilization
Mine development
Process Plant Optimization
Production commencement
Remaining (2)










March 2015

April 2015





April 2015



June 2015
July 2015
June 2015
July 2015
(1) – Management’s
objectives based on
internally generated
geology and
engineering
estimates.
Timeframes to
commissioning of
production may be
extended based on
metals prices,
ability to finance,
continued
exploration success,
permitting delays,
contractor
performance, and
other factors
beyond
management
control.
(2) - All items
staged and in
process pending
the securing of
final processing
option(s)
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Current Status & Remaining Activities
20
CRUCERO GOLD PROJECT
CLASSIC OROGENIC GOLD DEPOSIT

BRASIL
Balsas
Bolivar
Pataz
Parcoy
Buldibuyo
Ongon
PERU
Huachón
Sto. Domingo

Madre
de Dios
Beni
Ananea
Yani-Aucapata
BOLIVIA

Amayapampa
Antofagasta
Cebadillas
Candelaria-Sucre
PARAGUAY
Sra. Rinconada
CHILE
OCEANO
PACIFICO
Incahuasi
ARGENTINA
Source: Y. Haeberlin et al. / Ore Geology Reviews 22 (2002) 41–59

The Crucero Project lies within
the well established orogenic
gold mining belt
Carbonaceous siltstone and
meta-sediment hosted with gold,
arsenic, antimony associations
Structurally controlled gold
deposits
Historic gold production
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Gold Belts of the Eastern Andean
Cordillera and Sierras Pampeanas
COLOMBIA
ECUADOR
21
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CRUCERO GOLD PROJECT:
STRONG MINING JURISDICTION
22
CRUCERO GOLD PROJECT
GROWING DISCOVERY CURVE
 100% owned(2)
Gold Resource Estimates Growth
2.5
 Updated resource estimate 2013(1). Pit
constrained economics applied
2.0
Indicated
1.03 Moz
1.5
1.0
0.5
1.00 Moz
0.80 Moz
 Orogenic gold deposit; strong structural control
on mineralization
 Resource estimate(1) contained on the A-1 zone
only, with an additional 10 anomalies targeted
for follow-up
 Property at an elevation of 4,300 metres
0.0
2010
2011
2012
2013
Pit
Constrained
Resource(1)
(1) Total Crucero resource. October 2013 updated resource is capped and
calculated at a cut-off grade of 0.4 g/t (30.9mm tonnes at an average
capped grade of 1.01 g/t in the indicated category and 31.2 mm tonnes at
an average capped grade of 1.02 g/t in the inferred category). NI 43-101
independent Technical Report for the “Crucero Property,Carabaya Province,
Peru”, prepared by Tetra Tech & SRK Consulting, dated October 2013 and
filed on SEDAR. Please refer to the appendix for additional information on
the resource estimate.
(2) 5% NSR on A-1 only held by Compania de Minas Buenaventura
 Metallurgical optimization test work: 2013
results confirmed gold recovery >80%
 Accessible by road, access to water, electric
transmission lines within 8 kilometres of site
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Inferred
23
CRUCERO GOLD PROJECT:
PIT-CONSTRAINED RESOURCE
OCTOBER 2013 NI 43-101 GOLD RESOURCE ESTIMATE(1)






GRADE
CONTAINED
Category
Cut-off
(g/t)
Tonnes
(kt)
Au
(g/t)
Au Cap*
(g/t)
Au
(koz)
Au Cap*
(koz)
Indicated
0.4
30,919,873
1.118
1.009
1,111,494
1,003,041
Inferred
0.4
31,201,648
1.143
1.025
1,146,219
1,027,806
Based on 22,959 meters drilled to Dec. 2012
92% of the original gold resource ounces in constrained pit
Mineralization widely exposed at surface
Significant exploration upside: A-1 structural corridor
Existing infrastructure: roads, power within 8 kms, water
Successful and sustainable community relations
(1) Total Crucero resource. October 2013 updated resource is capped and calculated at a cut-off grade of 0.4 g/t (30.9mm tonnes
at an average capped grade of 1.01 g/t in the indicated category and 31.2 mm tonnes at an average capped grade of 1.02 g/t
in the inferred category). NI 43-101 independent Technical Report for the “Crucero Property,Carabaya Province, Peru”,
prepared by Tetra Tech & SRK Consulting, dated October 2013 and filed on SEDAR. Please refer to the appendix for additional
information on the resource estimate.
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
PIT-CONSTRAINED RESOURCE
24
CRUCERO GOLD PROJECT:
Resource
Cutoff
Tonnes
Au g/t
Capped (3)
Au g/t
1.0 g/t (1)
Indicated
Inferred
14,534,067
14,144,793
1.57
1.66
1.35
1.41
733,670
754,419
629,748
638,724
0.4 g/t
Indicated
Inferred
30,919,873
31,201,648
1.12
1.14
1.01
1.03
1,111,494
1,146,219
1,003,041
1,027,806
Au Oz
Cap Au Oz
(1) 1.0 g/t Cutoff results: Approximately 66% of uncapped gold oz contained in 46% of tonnes -- 43% increase in overall gold grade relative to
0.4 g/t cutoff.
(2) Total Crucero resource. October 2013 updated resource is capped and calculated at a cut-off grade of 0.4 g/t (30.9mm tonnes at an
average capped grade of 1.01 g/t in the indicated category and 31.2 mm tonnes at an average capped grade of 1.02 g/t in the inferred
category). NI 43-101 independent Technical Report for the “Crucero Property,Carabaya Province, Peru”, prepared by Tetra Tech & SRK
Consulting, dated October 2013 and filed on SEDAR. Please refer to the appendix for additional information on the resource estimate.
(3) Capped resource and grade shown at 17 g/t cap
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
DISTINCT HIGH-GRADE CORE (2)
25
CRUCERO GOLD PROJECT:
INSENSITIVE TO GOLD PRICE WEAKNESS
Gold resource based on gold price, Crucero
Pit sensitivity
summary
2.25
Gold $/oz
Tonnes
Au oz
1008
191,957,202
1,637,605
1036
200,835,882
1,677,509
1092
218,972,536
1,758,361
1120
232,370,970
1,807,706
1176
251,241,087
1,883,126
1204
256,520,317
1,907,795
0.75
1260
271,472,580
1,962,280
0.50
1288
276,268,307
1,982,151
1316
277,679,480
1,990,496
1344
281,942,234
2,005,185
1372
282,399,030
2,010,351
1400
286,892,105
2,025,099
1428
290,042,307
2,034,709
1456
290,703,006
2,039,674
1.75
1.50
1.25
1.00
0.25
0.00
$600
$700
$800
$900
$1,000
$1,100
$1,200
$1,300
$1,400
$1,500
$1,600
$1,700
Gold price $/oz
(1) Total Crucero resource. October 2013 updated resource is capped and calculated at a cut-off grade of
0.4 g/t (30.9mm tonnes at an average capped grade of 1.01 g/t in the indicated category and 31.2 mm
tonnes at an average capped grade of 1.02 g/t in the inferred category). NI 43-101 independent
Technical Report for the “Crucero Property,Carabaya Province, Peru”, prepared by Tetra Tech & SRK
Consulting, dated October 2013 and filed on SEDAR. Please refer to the appendix for additional
information on the resource estimate.
$1,800
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Gold mined (oz) Millions
2.00
26
CRUCERO GOLD PROJECT:
A-1 ZONE DISTINCT HIGHER GRADE CORE
 A-1 Zone mineralized envelope
surface outcrop assay values
imposed on photos
A-1 Zone view
looking north east
0.4 g/t
1.0 g/t
2.0 g/t
View
looking
north
east
2 g/t
surface
outcrop >900
meters
in surface strike length
A-1 Zone view looking west
View looking west
Mineralized outcrop >150 m wide
2 g/t surface outcrop up
to 150 meters in width
Mineralized outcrop >900 m in length
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
 Visible outcrop within red outline
is >2.0 g/t gold mineralization
27
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
CRUCERO GOLD PROJECT:
28
CRUCERO GOLD PROJECT:
CLASSIC OROGENIC GOLD STRUCTURAL SETTING
EXPLORATION PLAN
 Detailed work along A1
A-7
structural corridor
Northwest and
A-6
Limbani Monzanite Stock
A-1
A-5
Southeast of A1
 Early fieldwork has
shown promising
results
A-3
A-11
A-4
Ananea Carbonaceous
slate/siltstone
Regional structural trends
Regional faults
Aricoma Granite Stock
1 km
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
 Extension along
A-8
29
CRUCERO GOLD PROJECT:
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
EXPLORATION STRATEGY -- A-1 STRUCTURAL CORRIDOR
30
JOSNITORO GOLD PROJECT:
JV WITH HOCHSCHILD MINING PLC
 600 km by road
southeast of Lima
 Rotary drilling on
the property
totalling 2,856m
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
 Historical work has
returned results of
up to 7.74 g/t Au
for chip samples
and 33.6 g/t Au for
trench samples
31
JOSNITORO GOLD PROJECT
CLASSIC COPPER-GOLD PORPHYRY SETTING
 Central copper skarn
 Disseminated gold outer halo
 Copper skarn mineralization is
related to the calcareous
formation and associated
with the diorite intrusion,
which presents the typical
garnet-wollastonite-baritesericite-magnetite-specularite
assemblage, with economic
Cu-Zn-Pb sulfides contents
and important premium in Au
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
 Gold hosted in quartzite and
sandstones
32
JOSNITORO GOLD PROJECT
RIO ALTO’S LA ARENA PROJECT COMPARABLE
Both Josnitoro and La Arena are each
characterized by two different deposit types
•
Geochemical map showing targets beyond the
porphyry Cu deposit. Minerals occur in
disseminated gold hosted in sandstone and
quartzite, and related to a Cu-Mo-Au deposit
too. (Source: Rio Alto).
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
•
Source: Rio Alto Mining Limited
33
JOSNITORO GOLD PROJECT
Source: Hudbay Minerals Inc.
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
HUDBAY MINERAL’S CONSTANCIA PROJECT COMPARABLE
34
More than 50 years operating experience with five
mines in Latin America
•
Major precious metals producer, totalling 9.7
million silver equivalent ounces in H1 2013
•
One of Peru’s most successful and established
mining teams
•
Hochschild recognized Lupaka Gold’s strengths in
exploration and community relations
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
•
35
JOSNITORO GOLD PROJECT
Lupaka Gold acts as project operator with the option to earn-in to 65%
of the project within a 8-year period.
In order to exercise the option, Lupaka Gold must:
• Complete 10,000 meter diamond drill program
• Complete a preliminary economic assessment (“PEA”)
• Upon completion of a PEA, the 65%/35% joint venture would be
established
Other points:
• Hochschild may elect to buy back 30% of the Joint venture (raising
their interest to 65%) by paying three times Lupaka Gold’s incurred
expenses plus a $2.0 million payment
• Cost projections of meeting the earn-in requirements are
approximately $3.0 million for drilling 10,000 meters, $300,000 to
prepare a PEA, and annual administration, permitting and
community relations, for an estimated total of $5.0 million.
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
JV SUMMARY TERMS -- INVESTMENT IN THE GROUND
36
COMMUNITY RELATIONS IN PERU
Company Initiatives
 Staff veterinarians
 Medical clinic at site
 Dental Campaign
 Elementary school support
 Local community infrastructure
 Safety and environmental training
 Sustainable business support
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Overview
 Peruvian professional staff
 History of successful permitting
 Permanent year-round local
presence
 Building long-standing
commitment to a sustainable
community economy
37
MANAGEMENT TEAM
EXPERIENCED, COMMITTED, FOCUSED
MANAGEMENT
Eric H. Edwards – President and CEO
Geologist with over 25 years in the mining industry. Most recently served as CFO
of Andean Resources (sold to Goldcorp in December 2010 for C$3.6 billion) and
CEO of Ventura Gold Corp. (sold to International Minerals in January 2010 for
C$65 million)
Mr. Jones is a CPA, CA with a wealth of experience in publicly-traded companies.
Most recently he was CFO with Corriente Resources for 7 years and was a key
member of the management team which negotiated and closed the May 2010
cash sale of Corriente to CRCC-Tongguan Investment (Canada) Co., Ltd for
approximately $680 million.
Julio Castañeda – President, Peruvian Operations
Geologist with more than 29 years of experience in exploration and exploration
management. Former Regional Manager for Golden Minerals in Peru and Mexico.
Held senior positions with Barrick and Hochschild’s
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Darryl F. Jones (CA) – CFO
38
BOARD OF DIRECTORS
CANADIAN AND PERUVIAN BUSINESS VISION AND EXPERIENCE
BOARD OF DIRECTORS
Eric H. Edwards – President and CEO
Gordon Ellis (P.Eng, MBA) – Executive Chairman
Mr. Ellis has been involved with the mining industry and resource development for over 40 years.
He is a former owner/manager of a geophysical exploration consulting firm and has held senior
management and director roles for a number of publicly-traded mining exploration and
development companies. The last two companies for which he was chairman were acquired by
much larger firms in 2003 and 2010.
John Graf (CPA, CA) – Director
Norman Keevil III (P.Eng) – Director
Sits on the Board of Teck, the largest diversified mining, mineral processing and metallurgical
company in Canada
Jaime A. Pinto – Director
Owner of Estudio Pinto & Abogados law firm in Lima, Peru specializing in corporate finance and
restructuring
Luquman A. Shaheen (P.Eng, MBA) – Director
President and CEO of Panoro Minerals Ltd. Exploring and developing several copper projects in
Southern Peru including the Cotabambas property.
Stephen Silbernagel – Director
35 year legal career, primarily in the areas of corporate and commercial law
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Chartered Accountant and former independent Commissioner with the BC Securities Commission
39
CORPORATE INFORMATION
Share Price
$0.12
52 Week High / Low
$0.25 / $0.07
Average Daily Volume (3 month)
70,000
Basic Shares Outstanding
92.5 million
Warrants Outstanding (expire June 2014)
9.0 million
Stock Options
9.2 million
Fully Diluted Shares Outstanding
110.7 million
Market Capitalization
$11.1 million
Balance Sheet (as at December 31 , 2014)
Cash
Debt
$2.2 million
Nil
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Capital Structure (as at December 31, 2014)
40
SIGNIFICANT MILESTONES
LOOKING FORWARD TO 2015
TARGET
Invicta final production licenses received
Q1 2015
Invicta bulk sample mining
Q2 2015
Potential toll process certification
Q2 2015
Community agreement finalized
Q2 2015
Road improvement work initiated
Q2 2015
Process option finalized
Q2 2015
Mobilize contractors
Q2 2015
Commence development
Q2 2015
Commence commercial production
Q3 2015
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
OBJECTIVE
41
LUPAKA GOLD
UNIQUELY POSITIONED FOR INVESTMENT UPSIDE
• Near term production
• Cash flow to fund exploration
• Exploration partnerships
• Strong Peruvian expertise
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
• Cash balance
42
INVESTOR RELATIONS
Lupaka Gold Corp.
Suite 220 – 800 West Pender
Vancouver, BC V6C 2V6
TSX: LPK
TSX.V:
LPK Peru:
Peru:LPK
LPK Germany:
Germany:LQP
LQP
Investor Relations
Phone: 604-681-5900
Email: [email protected]
43