DEVELOPMENT READY GOLD MINE OPPORTUNITY

IN HONDURAS

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WITH A BUY-IN / EARN IN OPPORTUNITY TO OWN UP TO  100% OF AN ADVANCED, NEAR TERM MINING PROJECT

ASSET SNAPSHOT

Yuscaran Ag/Au Project

  • 530,000 ozs. of gold equivalent in Historical Reserve (1.51 million tons at 10.9 g/t AuEq1)

  • 12,985m drilling completed

  • In development 24-36 months to production (250tpd, expandable to 1,000tpd mine for 8+ years life-of-mine)

  • Expected cash flow US$8 million/year

  • Expected AISC ~US$600/oz

  • Easier permitting due to strong community support and underground mining method.

1 AuEq – Gold metal with silver reported in gold equivalent

Image by Sebastian Pichler

Base Case Valuation of the

Finca San Luis y Finca el Mango Concession

 The Guayabillas Vein is set to yield revenue in a short term:

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GUAYABILLAS SAN LUIS-MANGO CONCESSION

  • 8+ year mine life

  • Small scale start of 250tpd – easier permitting 

  • 100k in payable AuEq. oz and 40M in Ag oz

  • Price assumptions: $1,600/oz Au, $19.00/oz Ag

  • Life of Mine (LOM) EBITDA 65 million

  • Capital Investment 6 to 8 million USD

  • 24-36 months construction window

  • NPV 8% $33 million 

Image by Jingming Pan

ANNUAL

AVERAGES

  • 12k payable AuEq oz and 4.8M in Ag oz

  • $19 million net revenue

  • EBITDA $9 million

Image by Jingming Pan

SENSITIVITY

NPV 8%

  • $1,600 Au & $19 Ag - $33 million

  • $1,700 Au & $20 Ag - $37 million

  • $1,800 Au & $21 Ag - $41 million

Yuscaran – High Grade, Silver/Gold

Historical silver-gold mining; 1744 to early 1900’s

  • MAPEME Corporation holds 100 % of two 300 Hectare fully permitted mineral concessions.

  • The following information applies only to the Finca San Luis y Finca El Mango Concession.

  • 12,985m of drilling completed intersecting multiple, near surface, vertical epithermal veins:

    • 14 intersections 0.98m average width, 10.9 g/t gold, 1,723 g/t silver (30 g/t AuEq)

    • 59 intersections 0.93m average width, 5.4 g/t gold, 797 g/t silver (15 g/t AuEq)

    • 125 intersections 1.00m average width, 2.6 g/t gold, 399 g/t silver (7.3 g/t  AuEq)

  • Easy route to underground production at a small scale 250tpd~12koz/yr AuEq (4,3koz Au & 640koz Ag)

  • Strong Community  & government support 

United Nations reserve calculation for the Guayabillas vein;  Ag:Au values as of 12/23/20 *

Three Reports of Gold Ore Exploration Findings at the Completion of their project in 2004; Reports rendered by Bob Wasylyshyn, President and Director of the Board.

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Gold Ore Report
2003-10-1

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Gold Ore Report
2004-07-1

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Gold Ore Report
2004-08-1

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Honduras

A peaceful people of noble heritage, with strong ties to their neighboring countries and the U.S.

  • The mining industry presently represents 3% of GDP (2019)

  • S&P Honduras’ credit rating BB- with a stable outlook

  • Honduras passed a new mining law in 2015, with amendments added in late 2018.  The law strikes a good balance of protection for investor-developers and the Honduran society.

  • Taxes are limited to a 25% Corporate Rate, a 5% Net Smelter Royalty and a yearly $10 per concession hectare cannon tax.

  • Business friendly jurisdiction with a long history of mining. Over 40 years of democracy with a stable democratic constitution.

  • Native indigenous people that habitat native lands represent less than 5% of the Honduran population. In all of Central America, except Guatemala, the indigenous natives were almost totally integrated with the European settlers, resulting in a mostly mestizo-ladino population

  • Honduras has a clear policy and a peaceful history in protecting native indigenous peoples and their lands, none of which are nearby in the El Paraiso department, where the mine is located.

  • The mine is located near the town of Yuscaran, approximately one-hour drive from Tegucigalpa (the capital of Honduras), on an asphalted two lane highway. Yuscaran is an historical mining community and its people are supportive of new mining activity.

A Glimpse of the Honduran
Social-Political Panorama

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UPDATED CONCESSIONS STATUS FOR THE MAPEME MINING COMPANY

 As of January 4, 2021

  • Between 2019 and 2020, Mango Propiedad Exploraciones y Minerales. S.A. de C.V.    (MAPEME) made considerable strides in developing a program for exploration and exploitation of a near term Gold-Silver mining project and reactivation of a former Gold-Silver project in the Yuscaran area of Honduras.

  • On of March 5, 2019,  (MAPEME) received official notification of approval from the   Honduran Mining Authority, INHGEOMIN, for their Finca San Luis y Finca El Mango gold-silver concession which overlies the Guayabillas Vein, consisting of 1,000 Has.

  • After thorough review of all exploration data by our Technical Department in the first half of 2020, it was determined that a 300 Has mining concession would provide ample access to the Guayabillas and other nearby Veins.  We applied for a reduction of the Finca San Luis y Finca El Mango Concession from 1,000 to 300 Has.  Our application was officially accepted by INHGEOMIN, on September 2, 2020.

  • Our Technical Department team also reviewed the history of a nearby inactive Gold-Silver mine tunnels to the Northwest of the Guayabillas veins, that had been actively mined from the 19th through the early 20th  century.  Our team concluded that the area had  good potential for development under improved modern mining technology.

  • MAPEME developed and presented a 300 hectare concession application for the new area under the name “Ora”.  The application was officially accepted by INHGEOMIN on September 24, 2020. Expected approval of the Ora Concession in early 2021 would bring MAPEME’s total concessions in the Yuscaran area to 600 Has.

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CONTACT

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Guatemala, Guatemala, 01013
info@overseasholdingssa.com
Tel. Guatemala: +(502) 2390 6800, +(502) 3128 8098
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