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Patrick	
  F.	
  N.	
  Anderson	
  
Chief	
  Execu8ve	
  Officer	
  
Sample	
  from	
  the	
  T17	
  vein	
  
188	
  g/t	
  of	
  gold	
  	
  
103	
  g/t	
  of	
  silver	
  
5.07%	
  of	
  copper	
  
High-­‐Grade	
  │	
  Low-­‐Risk	
  	
  │	
  	
  Explora8on	
  │	
  Development	
  │	
  Europe	
  	
  │	
  	
   	
   	
  	
  	
  	
  	
  	
  	
  	
  	
  July	
  2013	
  
Forward-­‐Looking	
  Informa;on	
  and	
  Qualified	
  Person	
  
This	
  presenta8on	
  contains	
  “forward‑looking	
  informa8on”	
  which	
  may	
  include,	
  but	
  is	
  not	
  limited	
  to,	
  statements	
  with	
  respect	
  to	
  the	
  comple8on	
  of	
  the	
  acquisi8on	
  (the	
  
“Acquisi8on”)	
  by	
  the	
  Company	
  from	
  a	
  group	
  of	
  private	
  vendors	
  of	
  approximately	
  1.7	
  million	
  hectares	
  of	
  mineral	
  rights	
  over	
  four	
  greenstone	
  belts	
  and	
  a	
  historic	
  silver	
  mining	
  
camp	
  in	
  Norway,	
  future	
  financial	
  or	
  opera8ng	
  performance	
  of	
  the	
  Company	
  and	
  its	
  mineral	
  projects,	
  the	
  future	
  price	
  of	
  metals,	
  the	
  es8ma8on	
  of	
  mineral	
  resources,	
  the	
  
realiza8on	
  of	
  mineral	
  resource	
  es8mates,	
  the	
  8ming	
  and	
  amount	
  of	
  es8mated	
  future	
  produc8on,	
  costs	
  of	
  produc8on,	
  capital,	
  opera8ng	
  and	
  explora8on	
  expenditures,	
  costs	
  and	
  
8ming	
  of	
  the	
  development	
  of	
  new	
  deposits,	
  costs	
  and	
  8ming	
  of	
  future	
  explora8on,	
  requirements	
  for	
  addi8onal	
  capital,	
  government	
  regula8on	
  of	
  mining	
  opera8ons,	
  
environmental	
  risks,	
  reclama8on	
  expenses,	
  8tle	
  disputes	
  or	
  claims	
  and	
  limita8ons	
  of	
  insurance	
  coverage.	
  O^en,	
  but	
  not	
  always,	
  forward‑looking	
  statements	
  can	
  be	
  iden8fied	
  by	
  
the	
  use	
  of	
  words	
  and	
  phrases	
  such	
  as	
  “plans,”	
  “expects,”	
  “is	
  expected,”	
  “budget,”	
  “scheduled,”	
  “es8mates,”	
  “forecasts,”	
  “intends,”	
  “an8cipates,”	
  or	
  “believes”	
  or	
  varia8ons	
  
(including	
  nega8ve	
  varia8ons)	
  of	
  such	
  words	
  and	
  phrases,	
  or	
  state	
  that	
  certain	
  ac8ons,	
  events	
  or	
  results	
  “may,”	
  “could,”	
  “would,”	
  “might”	
  or	
  “will”	
  be	
  taken,	
  occur	
  or	
  
be	
  achieved.	
  
Forward-­‐looking	
  statements	
  are	
  based	
  on	
  the	
  opinions	
  and	
  es8mates	
  of	
  management	
  as	
  of	
  the	
  date	
  such	
  statements	
  are	
  made	
  and	
  are	
  based	
  on	
  various	
  assump8ons,	
  such	
  as	
  
approvals	
  from	
  the	
  Toronto	
  Stock	
  Exchange	
  and	
  the	
  Norwegian	
  Directorate	
  of	
  Mining	
  will	
  be	
  obtained	
  in	
  respect	
  of	
  the	
  Acquisi8on,	
  the	
  con8nued	
  poli8cal	
  stability	
  in	
  Northern	
  
Ireland	
  and	
  Norway,	
  that	
  permits	
  required	
  for	
  the	
  Company’s	
  opera8ons	
  will	
  be	
  obtained	
  in	
  a	
  8mely	
  basis	
  in	
  order	
  to	
  permit	
  the	
  Company	
  to	
  proceed	
  on	
  schedule	
  with	
  its	
  
planned	
  drilling	
  programs,	
  that	
  skilled	
  personnel	
  and	
  contractors	
  will	
  be	
  available	
  as	
  the	
  Company’s	
  opera8ons	
  con8nue	
  to	
  grow,	
  that	
  the	
  price	
  of	
  gold	
  will	
  be	
  at	
  levels	
  that	
  
render	
  the	
  project	
  economic,	
  or	
  that	
  the	
  Company	
  will	
  be	
  able	
  to	
  con8nue	
  raising	
  the	
  necessary	
  capital	
  to	
  finance	
  its	
  opera8ons	
  and	
  realize	
  on	
  mineral	
  resource	
  es8mates.	
  
Forward‑looking	
  statements	
  involve	
  known	
  and	
  unknown	
  risks,	
  uncertain8es	
  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	
  forward‑looking	
  statements.	
  Such	
  factors	
  include,	
  among	
  
others,	
  general	
  business,	
  economic,	
  compe88ve,	
  poli8cal	
  and	
  social	
  uncertain8es;	
  the	
  actual	
  results	
  of	
  current	
  explora8on	
  ac8vi8es;	
  actual	
  results	
  of	
  reclama8on	
  ac8vi8es;	
  
conclusions	
  of	
  economic	
  evalua8ons;	
  changes	
  in	
  project	
  parameters	
  as	
  plans	
  con8nue	
  to	
  be	
  refined;	
  future	
  prices	
  of	
  metals;	
  possible	
  varia8ons	
  of	
  ore	
  grade	
  or	
  recovery	
  rates;	
  
failure	
  of	
  plant,	
  equipment	
  or	
  processes	
  to	
  operate	
  as	
  an8cipated;	
  accidents,	
  labour	
  disputes	
  and	
  other	
  risks	
  of	
  the	
  mining	
  industry;	
  poli8cal	
  instability;	
  delays	
  in	
  obtaining	
  
governmental	
  approvals	
  or	
  financing	
  or	
  in	
  the	
  comple8on	
  of	
  development	
  or	
  construc8on	
  ac8vi8es,	
  as	
  well	
  as	
  those	
  factors	
  discussed	
  in	
  the	
  sec8on	
  en8tled	
  “Risk	
  Factors”	
  in	
  the	
  
Company’s	
  Annual	
  Informa8on	
  Form.	
  
Although	
  the	
  Company	
  has	
  aeempted	
  to	
  iden8fy	
  important	
  factors	
  that	
  could	
  cause	
  actual	
  ac8ons,	
  events	
  or	
  results	
  to	
  differ	
  materially	
  from	
  those	
  described	
  in	
  forward‑looking	
  
statements,	
  there	
  may	
  be	
  other	
  factors	
  that	
  cause	
  ac8ons,	
  events	
  or	
  results	
  to	
  differ	
  from	
  those	
  an8cipated,	
  es8mated	
  or	
  intended.	
  Forward‑looking	
  statements	
  contained	
  
herein	
  are	
  made	
  as	
  of	
  the	
  date	
  of	
  this	
  presenta8on	
  and	
  the	
  Company	
  disclaims	
  any	
  obliga8on	
  to	
  update	
  any	
  forward‑looking	
  statements,	
  whether	
  as	
  a	
  result	
  of	
  new	
  informa8on,	
  
future	
  events	
  or	
  results,	
  except	
  as	
  may	
  be	
  required	
  by	
  applicable	
  securi8es	
  laws.	
  There	
  can	
  be	
  no	
  assurance	
  that	
  forward‑looking	
  statements	
  will	
  prove	
  to	
  be	
  accurate,	
  as	
  actual	
  
results	
  and	
  future	
  events	
  could	
  differ	
  materially	
  from	
  those	
  an8cipated	
  in	
  such	
  statements.	
  	
  Accordingly,	
  readers	
  should	
  not	
  place	
  undue	
  reliance	
  on	
  forward‑looking	
  statements.	
  
Some	
  technical	
  data	
  in	
  this	
  presenta8on	
  was	
  taken	
  from	
  the	
  	
  technical	
  report	
  en8tled	
  “A	
  updated	
  Mineral	
  Resource	
  Es8mate	
  for	
  the	
  Curraghinalt	
  Gold	
  Deposit	
  Tyrone	
  	
  Project,	
  
County	
  Tyrone	
  and	
  County	
  Londonderry,	
  Northern	
  Ireland 	
  dated	
  January	
  10,	
  2012,	
  prepared	
  by	
  B.	
  Terrence	
  Hennessey,	
  P.Geo.,	
  and	
  Dibya	
  Kan8	
  Mukhopadhyay,	
  M.Sc.,	
  
MAusIMM,	
  of	
  Micon	
  Interna8onal	
  Limited	
  (the	
   Technical	
  Report ).	
  
John	
  McCombe,	
  PEng,	
  Chief	
  Opera8ng	
  Officer,	
  Dalradian	
  Resources	
  Inc.,	
  is	
  the	
  Qualified	
  Person	
  who	
  supervised	
  the	
  prepara8on	
  of	
  the	
  technical	
  data	
  in	
  this	
  presenta8on.	
  
2
OVERVIEW	
  AND	
  
CORPORATE	
  
Capital	
  Structure	
  
STOCK	
  PRICE	
  
All	
  dollars	
  quoted	
  in	
  $	
  CAD	
  
TSX,	
  OTCQX:	
   DNA,	
  DRLDF	
  
Shares	
  outstanding:	
  
Fully	
  diluted	
  :	
  
(May	
  7,	
  2013)	
  
89.5	
  million	
  
97.0	
  million	
  
Market	
  cap:	
  
(June	
  26,	
  2013)	
   $51.0	
  million	
  
Average	
  volume:	
  
(30	
  day)	
   51,283	
  
52	
  Week	
  Range:	
   $1.90	
  -­‐	
  $0.58	
  
Insider	
  ownership:	
  
(approximate)	
  
6%	
  
Cash	
  balance:	
  
(as	
  at	
  March	
  31,	
  2013)	
   $16.5	
  million	
  
Analyst	
  coverage:	
  
(targets	
  range	
  from	
  	
  
$3.00-­‐$1.90)	
  
	
  
Jamie	
  Sprae	
  	
   	
  Steve	
  Parsons	
  
	
  
	
  Craig	
  Stanley	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Laurie	
  Cur8s	
  
	
  
	
  
John	
  Hayes	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Bart	
  Jaworski	
  
4	
  
$1,400.00	
  
$1,500.00	
  
$1,600.00	
  
$1,700.00	
  
$1,800.00	
  
$1,900.00	
  
$2,000.00	
  
$0.00	
  
$0.50	
  
$1.00	
  
$1.50	
  
$2.00	
  
$0.57
June 26, 2013
DNA	
  
Gold	
  Price	
  
The	
  Board:	
  A	
  Track	
  Record	
  of	
  Discovery	
  and	
  Development	
  
5	
  
PATRICK	
  F.	
  N.	
  ANDERSON	
  
CHIEF	
  EXECUTIVE	
  OFFICER	
  
Former	
  Founder	
  &	
  CEO	
  of	
  Aurelian	
  Resources	
  	
  
JONATHAN	
  A.	
  RUBENSTEIN	
  
Director	
  of	
  Eldorado	
  Gold	
  Corpora;on	
  
Director	
  of	
  Detour	
  Gold	
  
Chairman	
  &	
  Director	
  of	
  MAG	
  Silver	
  Corp.	
  
Former	
  Director	
  of	
  Aurelian	
  Resources,	
  SuZon	
  
Resources,	
  Canico	
  Resource	
  Corp	
  &	
  
Cumberland	
  Resources	
  
RONALD	
  P.	
  GAGEL	
  
Former	
  SVP	
  and	
  CFO	
  of	
  FNX	
  Mining	
  
THOMAS	
  J.	
  OBRADOVICH	
  
CHAIRMAN	
  	
  
Chairman	
  of	
  Lago	
  Dourado	
  Minerals	
  
Former	
  CEO	
  of	
  Young-­‐Davidson	
  Mines	
  
Former	
  Director	
  of	
  Aurelian	
  Resources	
  
SEAN	
  E.	
  O.	
  ROOSEN	
  
CEO	
  OF	
  OSISKO	
  MINING	
  CORPORATION	
  
Also	
  Director	
  of	
  Astur	
  Gold	
  
CEO	
  OF	
  CONTINENTAL	
  GOLD	
  LIMITED	
  
ARI	
  B.	
  SUSSMAN	
  
GRENVILLE	
  THOMAS	
  
CHIEF	
  FINANCIAL	
  OFFICER	
  
Chairman	
  of	
  Strongbow	
  Explora;on	
  Inc.	
  
Former	
  Chairman,	
  President	
  &	
  Director	
  of	
  Aber	
  
Resources	
  (Harry	
  Winston	
  Diamond	
  Corp.)	
  now	
  
Dominion	
  Diamond	
  
NORWAY	
  
High-­‐Grade	
  Targets	
  in	
  Low	
  Risk	
  Jurisdic;ons	
  
6
§  Gold	
  resource	
  covers	
  a	
  frac8on	
  of	
  
known	
  mineraliza8on	
  
§  High-­‐grade	
  2.7M	
  ounce	
  gold	
  resource	
  
(all	
  categories)1	
  
−  Measured:	
  0.02	
  MT	
  grading	
  21.51	
  g/t	
  Au	
  
for	
  10,000	
  contained	
  ounces	
  
−  Indicated:	
  	
  1.11	
  MT	
  grading	
  12.84	
  g/t	
  Au	
  
for	
  460,000	
  contained	
  ounces	
  
−  Inferred:	
  	
  5.45	
  MT	
  grading	
  12.74	
  g/t	
  Au	
  
for	
  2.23	
  million	
  contained	
  ounces	
  
§  Posi8ve	
  PEA	
  shows	
  us	
  a	
  high	
  margin	
  
and	
  low	
  capex	
  producer	
  
§  1.3	
  M	
  hectares	
  of	
  explora8on	
  permits	
  
§  En8re	
  greenstone	
  belts	
  
§  Over	
  15	
  precious	
  metals	
  targets	
  iden8fied	
  
in	
  2012	
  season	
  
NORTHERN	
  IRELAND	
  
Northern	
  
Ireland	
  
Norway	
  
1	
  Refer	
  to	
  press	
  release	
  dated	
  Nov.	
  30,	
  2011	
  en8tled	
  “Dalradian	
  Announces	
  Resource	
  Increase	
  at	
  Curraghinalt”	
  at	
  www.dalradian.com	
  
NORTHERN	
  IRELAND	
  
Northern	
  Ireland	
  	
  
§  Our	
  flagship	
  asset:	
  Curraghinalt	
  high-­‐grade	
  lode	
  
gold	
  deposit	
  
§  Excellent	
  regional	
  infrastructure	
  
§  Over	
  84,000	
  hectares	
  under	
  license	
  
§  Recent	
  surge	
  in	
  gold	
  sector	
  
8	
  
Gor8n	
  
Omagh	
  
Curraghinalt	
  
BELFAST	
  
NORTHERN	
  
IRELAND	
  
Galantas	
  
Gold	
  
Conroy	
  
Diamonds	
  
&	
  Gold	
  
Lonmin	
  
Irish	
  Salt	
  
Mining	
  
Underground	
  
Salt	
  Mine	
  
Clon;bret	
  
Croagh	
  Patrick	
  
Parys	
  Mountain	
  
Gwynfynydd	
  
Galmoy	
   Avoca	
  
Pallas	
  Green	
  
Silvermines	
  
South	
  Cro_y	
  
Curraghinalt	
  Gold	
  
Deposit	
  
Gold	
  
Base	
  Metals	
  
Salt	
  Mine	
  
Allihies	
  Copper	
  
Mines	
  
Galantas	
  Gold	
  
Permieed	
  in	
  2007	
  
Scotgold	
  
Permieed	
  in	
  2012	
  
Vedanta	
  Resources	
  
In	
  produc8on	
  
Boliden	
  
In	
  produc8on	
  
IMC	
  Explora;on	
  
354	
  g/t	
  gold	
  over	
  1.5m	
  
Lundin	
  
In	
  produc8on	
  
Conroy	
  
+1M	
  ounce	
  resource	
  
Lisheen	
  
Cononish	
  
Tara	
  
Cavanacaw	
  
Xstrata	
  
Feasibility	
  
Gold	
  Mines	
  of	
  Wales	
  
U/G	
  grab	
  sample	
  -­‐	
  263	
  g/t	
  gold	
  	
  
Clogau	
  
Since	
  Incep;on…	
  
2009	
  
•  Project	
  Acquisi8on	
  -­‐	
  December	
  
•  600	
  k	
  ounce	
  gold	
  resource1	
  
2010	
  
•  Increased	
  to	
  1.5	
  M	
  ounce	
  gold	
  resource1	
  
•  IPO	
  -­‐	
  August	
  
2011	
  
•  7	
  rigs	
  onsite	
  
•  Increased	
  to	
  2.7	
  M	
  ounce	
  gold	
  resource1	
  
2012	
  
•  Robust	
  PEA	
  announced	
  	
  
•  New	
  discovery	
  -­‐	
  Alwories	
  
2013	
  
•  Underground	
  explora8on	
  development	
  
permit	
  submieed	
  and	
  expected	
  by	
  Q4	
  
1	
  Refer	
  to	
  appendix	
  or	
  press	
  release	
  dated	
  Nov.	
  30,	
  2011	
  en8tled	
  “Dalradian	
  Announces	
  Resource	
  
Increase	
  at	
  Curraghinalt”	
  at	
  www.dalradian.com	
  
DG3	
  
Gor;n	
  
Permibng	
  is	
  Possible	
  
10	
  
Curraghinalt	
  
Alwories	
  Quarry	
  
kilometres
0 1 2
Curraghinalt	
  
Clear	
  Cut	
  Logging	
  at	
  Gor8n	
  Glen	
  Forest	
  Park	
  
125	
  Metres
Cavanacaw	
  Open	
  Pit	
  Approx	
  30	
  km	
  SW	
  
Greencastle	
  Quarry	
  
Social	
  License	
  
11
Local	
  sports	
  team	
  support	
  
Launch	
  of	
  Dalradian	
  fundraising	
  
and	
  corporate	
  support	
  campaign	
  
for	
  the	
  MS	
  Society	
  
130	
  leeers	
  and	
  2	
  pe88ons	
  sent	
  in	
  support	
  of	
  the	
  
project	
  during	
  the	
  underground	
  development	
  
permivng	
  process	
  	
  
Local	
  sports	
  team	
  support	
  
Awarded	
  in	
  Top	
  30	
  Irish-­‐North	
  American	
  
Companies	
  for	
  2012	
  &	
  2013	
  
Training	
  &	
  PPE	
  is	
  provided	
  to	
  local	
  land	
  
owners	
  to	
  ensure	
  they	
  work	
  safely	
  
CURRAGHINALT	
  
Intercept in hole 11-CT-99 projected up dip to 170m mSL
Not	
  a	
  Trend	
  but	
  a	
  District	
  
GLACIATED	
  TERRAIN	
  WITH	
  MINIMAL	
  OUTCROP	
  
12 km
1700m
Curraghinalt
Deposit
Curraghinalt
Trend
13
Curraghinalt Trend
Veins in Current Resource
Intersected Veins
Historical Findings
Geochem Anomaly
Curraghinalt Deposit
Resource as at Nov 2011 –
Measured: 0.01 Moz Au (0.02MT @ 21.51 g/t)
Indicated: 0.46 Moz Au (1.11MT @ 12.84 g/t)
Inferred: 2.23 Moz Au (5.45 MT @ 12.74 g/t)
Golan Burn
Outcropping veins including
60cm @ 61.43 g/t Au
Alwories Discovery Holes
4.72m @ 14.82 g/t Au
2.22m @ 14.10 g/t Au
1.47m @ 23.6 2g/t Au
400 m Step-out
3.2m @ 5.34 g/t Au
Attagh Burn
2.47m @ 18.99 g/t Au
Broader	
  Mineralized	
  Zones	
  
14
CROSS-­‐SECTION	
  A	
  –	
  A’	
  
Adit	
  
0 200	
   400	
  
METRES	
  
A	
  Growing	
  Resource:	
  600,000	
  Ounces	
  to	
  2.7	
  million	
  Ounces	
  
15
2007	
  Resource	
  
2010	
  Resource	
  
2011	
  Resource	
  
2012	
  Interpreta8ve	
  vein	
  extents	
  
Drilling	
  post	
  2011	
  Resource	
  
Curraghinalt:	
  A	
  Growing	
  Resource	
  
16
2.47	
  m	
  @	
  5.19	
  g/t	
  
0.10	
  m	
  @	
  21.28	
  g/t	
  
0.44	
  m	
  @	
  11.68	
  g/t	
  
0.60	
  m	
  @	
  6.02	
  g/t	
  
0.43m	
  @	
  14.57	
  g/t	
  
0.65	
  m	
  @	
  15.04	
  g/t	
  
0.38	
  m	
  @	
  3.73	
  g/t	
  
2.22	
  m	
  @	
  14.1	
  g/t	
  
4.72	
  m	
  @	
  14.82	
  g/t	
  
1.47	
  m	
  @	
  23.6	
  g/t	
  
Curraghinalt
Alwories
Attagh Burn
3.6 km
2007	
  Resource	
  
2010	
  Resource	
  
2011	
  Resource	
  
2012	
  Interpreted	
  vein	
  extents	
  
Drilling	
  post	
  2011	
  Resource	
  
Golan	
  Burn	
  to	
  Curraghinalt	
  
17
6.5 km
2007	
  Resource	
  
2010	
  Resource	
  
2011	
  Resource	
  
2012	
  Interpreted	
  vein	
  extents	
  
Drilling	
  post	
  2011	
  Resource	
  
Curraghinalt
Measured:	
  0.01	
  Moz	
  Au	
  @	
  21.51	
  g/t)	
  
Indicated	
  :	
  0.46	
  Moz	
  Au	
  @	
  12.84	
  g/t)	
  
Inferred:	
  	
  	
  2.23	
  Moz	
  Au	
  @	
  12.74	
  g/t)	
  
§  Open	
  in	
  all	
  direc8ons	
  except	
  up	
  
18
CURRAGHINALT	
  RESOURCE	
  ESTIMATE	
  	
  
0	
  
10000	
  
20000	
  
30000	
  
40000	
  
50000	
  
60000	
  
70000	
  
80000	
  
90000	
  
0.0	
  
0.5	
  
1.0	
  
1.5	
  
2.0	
  
2.5	
  
3.0	
  
3.5	
  
4.0	
  
4.5	
  
5.0	
  
2007	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  
(Pre-­‐DNA)	
  
2010	
  DNA	
  
Year	
  1	
  
2011	
  DNA	
  
Year	
  2	
  
2012	
  DNA	
  
Year	
  3	
  
Millions	
  of	
  Ounces	
  
Metres	
  Drilled	
  
27	
  years	
  of	
  work	
   3	
  years	
  of	
  work	
  
§  1986-­‐1987	
  resources	
  es8mates	
  are	
  historic	
  non	
  43-­‐101	
  
compliant	
  resources	
  
§  2003	
  to	
  2011	
  resource	
  es8mates	
  are	
  reported	
  43-­‐101	
  
compliant	
  
Images	
  presented	
  for	
  illustra8ve	
  purposes	
  only	
  
Curraghinalt	
  Resource	
  
RESOURCE	
  AS	
  AT	
  	
  NOV	
  2011:	
  	
  
?
PRELIMINARY	
  ECONOMIC	
  
ASSESSMENT	
  
Preliminary	
  Economic	
  Assessment	
  
20
20
KEY	
  PEA	
  DATA*	
  
3	
  YEAR	
  TRAILING	
  
AVERAGE	
  GOLD	
  PRICE:	
  
$1378/ounce	
  
5	
  YEAR	
  TRAILING	
  
AVERAGE	
  GOLD	
  PRICE:	
  
$1,166/ounce	
  
NPV	
  with	
  8%	
  discount	
  rate	
  (A^er-­‐tax)	
   $467	
  million	
   $331	
  million	
  
IRR	
  (A^er-­‐tax)	
   41.9%	
   33.4%	
  
Average	
  Annual	
  Produc8on	
   145,000	
  ounces/year	
  
Processing	
  Rate	
   1,700	
  tonnes/day	
  
Life	
  of	
  Mine	
   15	
  years	
  
Ini8al	
  Capex	
  ($38M	
  con8ngency)	
   $192	
  million	
  
Cash	
  Costs	
   $532/ounce	
  or	
  $125/tonne	
  
Diluted	
  Grade	
   8.1	
  g/t	
  Au	
  
Gold	
  Recovery	
   92%	
  
Payback	
   2	
  years	
  
All	
  dollars	
  quoted	
  in	
  $	
  USD	
  unless	
  stated	
  otherwise	
  
PEA	
  results	
  released	
  on	
  July	
  25,	
  2012.	
  	
  The	
  PEA	
  is	
  preliminary	
  in	
  nature.	
  	
  It	
  includes	
  inferred	
  mineral	
  resources	
  that	
  are	
  considered	
  too	
  specula8ve	
  geologically	
  to	
  have	
  the	
  economic	
  considera8ons	
  applied	
  to	
  
them	
  that	
  would	
  enable	
  them	
  to	
  be	
  categorized	
  as	
  mineral	
  reserves.	
  	
  There	
  is	
  no	
  certainty	
  that	
  the	
  results	
  of	
  the	
  PEA	
  will	
  be	
  realized.	
  
*	
  Prepared	
  by	
  Micon	
  Interna8onal	
  Limited	
  
PEA:	
  Mining	
  
21
21
21
Longhole	
  Mining	
  with	
  Ramp	
  Access	
  &	
  Truck	
  Haulage:	
  
§  Local	
  availability	
  of	
  experienced	
  longhole	
  miners	
  
§  More	
  dilu8ve	
  than	
  cut	
  and	
  fill	
  but	
  less	
  expensive	
  and	
  
easier	
  to	
  manage	
  
§  1.8	
  metres	
  mined	
  width	
  (80%	
  dilu8on	
  on	
  resource)	
  
§  20	
  metre	
  sub	
  level	
  spacing	
  
§  Less	
  than	
  10	
  working	
  faces	
  at	
  any	
  one	
  8me	
  
PROJECT	
  
PRODUCTION	
  RATE	
  
(TPD)	
  
MINING	
  COST	
  
(US$/T	
  MILLED)	
   COMMENTS	
  
Curraghinalt	
  
(Dalradian,	
  N.	
  Ireland)	
  
1,700	
  	
  
(planned)	
  
$76.50	
  (US$/t	
  mined)	
  
(PEA	
  es8mate)	
  
1.8	
  m	
  stope	
  widths	
  
Bulyanhulu	
  
(African	
  Barrick,	
  Tanzania)	
   3,300	
   $156.00	
   Narrow,	
  steeply-­‐dipping	
  veins	
  
Daisy	
  Milano	
  
(Silver	
  Lake	
  Resources,	
  W.	
  
Australia)	
  
540	
   Cash	
  Costs	
  of	
  $660/oz	
   Stope	
  widths	
  down	
  to	
  1	
  m	
  
Lawlers	
  
(Barrick,	
  Australia)	
   2,200	
  
$30.06	
  
(2003)	
  
Shallow	
  dipping	
  veins,	
  2-­‐6	
  m	
  thick	
  
Development	
  tunneling	
  at	
  Bulyanhulu	
  Gold	
  Mine	
  
UNDERGROUND	
  
EXPLORATION	
  
DEVELOPMENT	
  
Background	
  
§  Exis8ng	
  explora8on	
  tunnel	
  permieed	
  in	
  1987	
  and	
  subsequently	
  
constructed	
  by	
  Ulster	
  Minerals	
  in	
  the	
  late	
  80s,	
  with	
  works	
  
consis8ng	
  of:	
  
–  A	
  410	
  m	
  adit	
  (3.0	
  x	
  2.5	
  m)	
  and	
  two	
  dri^s	
  totalling	
  290	
  m	
  
(s8ll	
  accessible,	
  stable	
  and	
  in	
  use)	
  
–  Ancillary	
  buildings	
  (now	
  removed)	
  
–  Onsite	
  stockpiles	
  of	
  surplus	
  rock	
  
(since	
  re-­‐graded	
  into	
  exis8ng	
  slope	
  contours)	
  
–  Quan88es	
  of	
  mineralised	
  rock	
  transported	
  to	
  offsite	
  tes8ng	
  facili8es	
  
§  DGL	
  acquired	
  the	
  Curraghinalt	
  Project	
  in	
  late	
  2009	
  and	
  
commenced	
  surface	
  explora8on	
  drilling	
  in	
  2010	
  	
  
§  DGL	
  upgraded	
  the	
  resource	
  es8mates	
  in	
  Q2/2011	
  and	
  again	
  
in	
  Q4/2011	
  
–  Current	
  resource	
  stands	
  at	
  2.7	
  million	
  oz.	
  gold	
  (all	
  categories)	
  
§  DGL	
  completed	
  Preliminary	
  Economic	
  Assessment	
  (PEA)	
  
in	
  Q3/2012	
  
§  Next	
  step	
  is	
  to	
  conduct	
  underground	
  explora8on	
  development	
  
23
Curraghinalt	
  Adit	
  
24
Underground	
  Explora;on	
  Development	
  
§  Extend	
  the	
  exis8ng	
  adit	
  by	
  
approximately	
  260	
  m	
  to	
  intersect	
  
all	
  known	
  veins;	
  
§  Dri^	
  along	
  several	
  of	
  the	
  known	
  
veins	
  &	
  demonstrate	
  vein	
  
con8nuity;	
  
§  Install	
  a	
  ramp	
  to	
  access	
  150	
  m	
  level,	
  
approximately	
  20	
  m	
  below	
  exis8ng	
  
workings;	
  
§  Removal	
  of	
  large	
  bulk	
  sample	
  for	
  
metallurgical	
  test	
  work.	
  
§ Dalradian	
  is	
  reques8ng	
  planning	
  
permission	
  to	
  complete	
  approximately	
  
2,000	
  m	
  of	
  underground	
  explora8on	
  
development	
  
T17	
  
No.	
  1	
  
106-­‐16	
  
Bend	
  
Crow	
  
Road	
  
Sheep	
  Dip	
  
Mullan	
  
Proposed	
  Access	
  Ramp	
  
to	
  Sub-­‐Level	
  
Proposed	
  Tunnel	
  Extensions	
  
at	
  Sub-­‐Level	
  
Proposed	
  Tunnel	
  Extensions	
  
at	
  170	
  M	
  Level	
  
Exis;ng	
  Explora;on	
  
Tunnel	
  
26
Conceptual	
  Sublevel	
  Development
2,000	
  m	
  Planned	
  with	
  the	
  Goal	
  to:	
  
•  Demonstrate	
  con8nuity	
  of	
  thickness	
  and	
  grade	
  of	
  mineralized	
  veins.	
  
•  Convert	
  addi8onal	
  resources	
  to	
  Measured	
  and	
  Indicated.	
  
•  Test	
  mining	
  and	
  backfill	
  methods.	
  
•  Inves8gate	
  geotechnical	
  and	
  hydrogeological	
  condi8ons.	
  
•  Produce	
  a	
  bulk	
  sample	
  for	
  metallurgical	
  test	
  work.	
  
•  Test	
  the	
  permivng	
  process.	
  
ROAD	
  
SHEEPDIP	
  
MULLAN	
  
T17	
  
No.	
  1	
  
106_16	
  
BEND	
  
CROW	
  
EXISTING	
  DEVELOPMENT	
  
PLANNED	
  	
  
DEVELOPMENT	
  
PLANNED	
  	
  
DEVELOPMENT	
  
PLANNED	
  	
  
STOPING	
  
Surface	
  Facili;es	
  
Proposed	
  Works	
  –	
  Surface	
  Facili;es:	
  
§  Designated	
  on-­‐site	
  storage	
  area	
  for	
  surplus	
  
rock	
  	
  
§  Temporary	
  water	
  treatment	
  facility	
  
§  Temporary	
  on-­‐site	
  explosives	
  store	
  
§  Ancillary	
  facili8es:	
  office,	
  welfare,	
  services,	
  
parking,	
  etc.	
  
§  Project	
  will	
  be	
  constructed	
  on	
  surface	
  
lands	
  controlled	
  by	
  DGL	
  
27
Permibng	
  Process	
  
§  Consulta8on	
  with	
  The	
  Crown	
  Estate	
  and	
  DETI	
  
§  Consulta8on	
  with	
  other	
  stakeholders	
  &	
  regulators	
  
§  Planning	
  permission	
  (DoE	
  Planning	
  Service	
  –	
  Strategic	
  Planning	
  Division)	
  
§  Explosives	
  storage	
  consent,	
  revision	
  to	
  the	
  exis8ng	
  discharge	
  consent;	
  water	
  abstrac8on	
  licence;	
  
waste	
  management	
  (NIEA)	
  
§  Explosives	
  store	
  consent	
  (DoJ	
  /	
  DoE)	
  
28
Pre-­‐	
  
consulta;on	
  
Revisions	
  to	
  Exis;ng	
  Permits	
  
Mobiliza;on	
  and	
  Site	
  Prep.	
  
2013	
   2014	
  
Q1	
   Q2	
   Q3	
   Q4	
   Q1	
  
JAN	
   FEB	
   MAR	
   APR	
   MAY	
   JUN	
   JUL	
   AUG	
   SEP	
   OCT	
   NOV	
   DEC	
   JAN	
   FEB	
   MAR	
  
Planning	
  Process	
  
Explosives	
  Storage	
  Consent	
  
Contractor	
  Selec;on	
  
UG	
  Development	
  
EIA	
  not	
  required	
  
Planning	
  Permission	
  
Judiciary	
  Review	
  Period	
  
Where	
  We’re	
  Headed	
  	
  
29
§  Deposit	
  re-­‐evalua8on	
   	
   	
   	
  Ongoing	
  
§  Drill	
  results	
  finalized 	
   	
   	
  Q3	
  2013	
  
§  Historic	
  sampling	
  program	
  comple8on	
   	
  Q3	
  2013	
  
§  Historic	
  sampling	
  interpreta8on	
  &	
  results	
   	
  Q4	
  2013	
  
§  EIA	
  Requirement	
  Determina8on 	
   	
  Not	
  Required	
  
§  Underground	
  permit 	
   	
   	
  Q4	
  2013	
  
§  Underground	
  work	
  commences 	
   	
  Q1	
  2014 	
   	
  	
  
	
  
	
  
§  We	
  are	
  posi8oned	
  
§  Baseline	
  studies	
  underway	
  
NORTHERN	
  IRELAND	
  
NORWAY	
  
✓
Next	
  Stop	
  
Underground	
  Tour	
  of	
  Curraghinalt	
  Deposit	
  
The European Explorer
Patrick F. N. Anderson
Chief Executive Officer
Investor Relations
Shae-Lynn Mathers
Director, Investor Relations
smathers@dalradian.com
416.583.5622
Trading Symbol:
DNA on TSX
DRLDF on OTCQX
Corporate Office:
Dalradian Resources Inc.
155 Wellington Street West
Suite 2920
Toronto, Ontario
Canada M5V 3H1
www.dalradian.com

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Dalradian corporate presentation july 15 2013

  • 1. Patrick  F.  N.  Anderson   Chief  Execu8ve  Officer   Sample  from  the  T17  vein   188  g/t  of  gold     103  g/t  of  silver   5.07%  of  copper   High-­‐Grade  │  Low-­‐Risk    │    Explora8on  │  Development  │  Europe    │                        July  2013  
  • 2. Forward-­‐Looking  Informa;on  and  Qualified  Person   This  presenta8on  contains  “forward‑looking  informa8on”  which  may  include,  but  is  not  limited  to,  statements  with  respect  to  the  comple8on  of  the  acquisi8on  (the   “Acquisi8on”)  by  the  Company  from  a  group  of  private  vendors  of  approximately  1.7  million  hectares  of  mineral  rights  over  four  greenstone  belts  and  a  historic  silver  mining   camp  in  Norway,  future  financial  or  opera8ng  performance  of  the  Company  and  its  mineral  projects,  the  future  price  of  metals,  the  es8ma8on  of  mineral  resources,  the   realiza8on  of  mineral  resource  es8mates,  the  8ming  and  amount  of  es8mated  future  produc8on,  costs  of  produc8on,  capital,  opera8ng  and  explora8on  expenditures,  costs  and   8ming  of  the  development  of  new  deposits,  costs  and  8ming  of  future  explora8on,  requirements  for  addi8onal  capital,  government  regula8on  of  mining  opera8ons,   environmental  risks,  reclama8on  expenses,  8tle  disputes  or  claims  and  limita8ons  of  insurance  coverage.  O^en,  but  not  always,  forward‑looking  statements  can  be  iden8fied  by   the  use  of  words  and  phrases  such  as  “plans,”  “expects,”  “is  expected,”  “budget,”  “scheduled,”  “es8mates,”  “forecasts,”  “intends,”  “an8cipates,”  or  “believes”  or  varia8ons   (including  nega8ve  varia8ons)  of  such  words  and  phrases,  or  state  that  certain  ac8ons,  events  or  results  “may,”  “could,”  “would,”  “might”  or  “will”  be  taken,  occur  or   be  achieved.   Forward-­‐looking  statements  are  based  on  the  opinions  and  es8mates  of  management  as  of  the  date  such  statements  are  made  and  are  based  on  various  assump8ons,  such  as   approvals  from  the  Toronto  Stock  Exchange  and  the  Norwegian  Directorate  of  Mining  will  be  obtained  in  respect  of  the  Acquisi8on,  the  con8nued  poli8cal  stability  in  Northern   Ireland  and  Norway,  that  permits  required  for  the  Company’s  opera8ons  will  be  obtained  in  a  8mely  basis  in  order  to  permit  the  Company  to  proceed  on  schedule  with  its   planned  drilling  programs,  that  skilled  personnel  and  contractors  will  be  available  as  the  Company’s  opera8ons  con8nue  to  grow,  that  the  price  of  gold  will  be  at  levels  that   render  the  project  economic,  or  that  the  Company  will  be  able  to  con8nue  raising  the  necessary  capital  to  finance  its  opera8ons  and  realize  on  mineral  resource  es8mates.   Forward‑looking  statements  involve  known  and  unknown  risks,  uncertain8es  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  forward‑looking  statements.  Such  factors  include,  among   others,  general  business,  economic,  compe88ve,  poli8cal  and  social  uncertain8es;  the  actual  results  of  current  explora8on  ac8vi8es;  actual  results  of  reclama8on  ac8vi8es;   conclusions  of  economic  evalua8ons;  changes  in  project  parameters  as  plans  con8nue  to  be  refined;  future  prices  of  metals;  possible  varia8ons  of  ore  grade  or  recovery  rates;   failure  of  plant,  equipment  or  processes  to  operate  as  an8cipated;  accidents,  labour  disputes  and  other  risks  of  the  mining  industry;  poli8cal  instability;  delays  in  obtaining   governmental  approvals  or  financing  or  in  the  comple8on  of  development  or  construc8on  ac8vi8es,  as  well  as  those  factors  discussed  in  the  sec8on  en8tled  “Risk  Factors”  in  the   Company’s  Annual  Informa8on  Form.   Although  the  Company  has  aeempted  to  iden8fy  important  factors  that  could  cause  actual  ac8ons,  events  or  results  to  differ  materially  from  those  described  in  forward‑looking   statements,  there  may  be  other  factors  that  cause  ac8ons,  events  or  results  to  differ  from  those  an8cipated,  es8mated  or  intended.  Forward‑looking  statements  contained   herein  are  made  as  of  the  date  of  this  presenta8on  and  the  Company  disclaims  any  obliga8on  to  update  any  forward‑looking  statements,  whether  as  a  result  of  new  informa8on,   future  events  or  results,  except  as  may  be  required  by  applicable  securi8es  laws.  There  can  be  no  assurance  that  forward‑looking  statements  will  prove  to  be  accurate,  as  actual   results  and  future  events  could  differ  materially  from  those  an8cipated  in  such  statements.    Accordingly,  readers  should  not  place  undue  reliance  on  forward‑looking  statements.   Some  technical  data  in  this  presenta8on  was  taken  from  the    technical  report  en8tled  “A  updated  Mineral  Resource  Es8mate  for  the  Curraghinalt  Gold  Deposit  Tyrone    Project,   County  Tyrone  and  County  Londonderry,  Northern  Ireland  dated  January  10,  2012,  prepared  by  B.  Terrence  Hennessey,  P.Geo.,  and  Dibya  Kan8  Mukhopadhyay,  M.Sc.,   MAusIMM,  of  Micon  Interna8onal  Limited  (the   Technical  Report ).   John  McCombe,  PEng,  Chief  Opera8ng  Officer,  Dalradian  Resources  Inc.,  is  the  Qualified  Person  who  supervised  the  prepara8on  of  the  technical  data  in  this  presenta8on.   2
  • 4. Capital  Structure   STOCK  PRICE   All  dollars  quoted  in  $  CAD   TSX,  OTCQX:   DNA,  DRLDF   Shares  outstanding:   Fully  diluted  :   (May  7,  2013)   89.5  million   97.0  million   Market  cap:   (June  26,  2013)   $51.0  million   Average  volume:   (30  day)   51,283   52  Week  Range:   $1.90  -­‐  $0.58   Insider  ownership:   (approximate)   6%   Cash  balance:   (as  at  March  31,  2013)   $16.5  million   Analyst  coverage:   (targets  range  from     $3.00-­‐$1.90)     Jamie  Sprae      Steve  Parsons      Craig  Stanley                                    Laurie  Cur8s       John  Hayes                                            Bart  Jaworski   4   $1,400.00   $1,500.00   $1,600.00   $1,700.00   $1,800.00   $1,900.00   $2,000.00   $0.00   $0.50   $1.00   $1.50   $2.00   $0.57 June 26, 2013 DNA   Gold  Price  
  • 5. The  Board:  A  Track  Record  of  Discovery  and  Development   5   PATRICK  F.  N.  ANDERSON   CHIEF  EXECUTIVE  OFFICER   Former  Founder  &  CEO  of  Aurelian  Resources     JONATHAN  A.  RUBENSTEIN   Director  of  Eldorado  Gold  Corpora;on   Director  of  Detour  Gold   Chairman  &  Director  of  MAG  Silver  Corp.   Former  Director  of  Aurelian  Resources,  SuZon   Resources,  Canico  Resource  Corp  &   Cumberland  Resources   RONALD  P.  GAGEL   Former  SVP  and  CFO  of  FNX  Mining   THOMAS  J.  OBRADOVICH   CHAIRMAN     Chairman  of  Lago  Dourado  Minerals   Former  CEO  of  Young-­‐Davidson  Mines   Former  Director  of  Aurelian  Resources   SEAN  E.  O.  ROOSEN   CEO  OF  OSISKO  MINING  CORPORATION   Also  Director  of  Astur  Gold   CEO  OF  CONTINENTAL  GOLD  LIMITED   ARI  B.  SUSSMAN   GRENVILLE  THOMAS   CHIEF  FINANCIAL  OFFICER   Chairman  of  Strongbow  Explora;on  Inc.   Former  Chairman,  President  &  Director  of  Aber   Resources  (Harry  Winston  Diamond  Corp.)  now   Dominion  Diamond  
  • 6. NORWAY   High-­‐Grade  Targets  in  Low  Risk  Jurisdic;ons   6 §  Gold  resource  covers  a  frac8on  of   known  mineraliza8on   §  High-­‐grade  2.7M  ounce  gold  resource   (all  categories)1   −  Measured:  0.02  MT  grading  21.51  g/t  Au   for  10,000  contained  ounces   −  Indicated:    1.11  MT  grading  12.84  g/t  Au   for  460,000  contained  ounces   −  Inferred:    5.45  MT  grading  12.74  g/t  Au   for  2.23  million  contained  ounces   §  Posi8ve  PEA  shows  us  a  high  margin   and  low  capex  producer   §  1.3  M  hectares  of  explora8on  permits   §  En8re  greenstone  belts   §  Over  15  precious  metals  targets  iden8fied   in  2012  season   NORTHERN  IRELAND   Northern   Ireland   Norway   1  Refer  to  press  release  dated  Nov.  30,  2011  en8tled  “Dalradian  Announces  Resource  Increase  at  Curraghinalt”  at  www.dalradian.com  
  • 8. Northern  Ireland     §  Our  flagship  asset:  Curraghinalt  high-­‐grade  lode   gold  deposit   §  Excellent  regional  infrastructure   §  Over  84,000  hectares  under  license   §  Recent  surge  in  gold  sector   8   Gor8n   Omagh   Curraghinalt   BELFAST   NORTHERN   IRELAND   Galantas   Gold   Conroy   Diamonds   &  Gold   Lonmin   Irish  Salt   Mining   Underground   Salt  Mine   Clon;bret   Croagh  Patrick   Parys  Mountain   Gwynfynydd   Galmoy   Avoca   Pallas  Green   Silvermines   South  Cro_y   Curraghinalt  Gold   Deposit   Gold   Base  Metals   Salt  Mine   Allihies  Copper   Mines   Galantas  Gold   Permieed  in  2007   Scotgold   Permieed  in  2012   Vedanta  Resources   In  produc8on   Boliden   In  produc8on   IMC  Explora;on   354  g/t  gold  over  1.5m   Lundin   In  produc8on   Conroy   +1M  ounce  resource   Lisheen   Cononish   Tara   Cavanacaw   Xstrata   Feasibility   Gold  Mines  of  Wales   U/G  grab  sample  -­‐  263  g/t  gold     Clogau  
  • 9. Since  Incep;on…   2009   •  Project  Acquisi8on  -­‐  December   •  600  k  ounce  gold  resource1   2010   •  Increased  to  1.5  M  ounce  gold  resource1   •  IPO  -­‐  August   2011   •  7  rigs  onsite   •  Increased  to  2.7  M  ounce  gold  resource1   2012   •  Robust  PEA  announced     •  New  discovery  -­‐  Alwories   2013   •  Underground  explora8on  development   permit  submieed  and  expected  by  Q4   1  Refer  to  appendix  or  press  release  dated  Nov.  30,  2011  en8tled  “Dalradian  Announces  Resource   Increase  at  Curraghinalt”  at  www.dalradian.com  
  • 10. DG3   Gor;n   Permibng  is  Possible   10   Curraghinalt   Alwories  Quarry   kilometres 0 1 2 Curraghinalt   Clear  Cut  Logging  at  Gor8n  Glen  Forest  Park   125  Metres Cavanacaw  Open  Pit  Approx  30  km  SW   Greencastle  Quarry  
  • 11. Social  License   11 Local  sports  team  support   Launch  of  Dalradian  fundraising   and  corporate  support  campaign   for  the  MS  Society   130  leeers  and  2  pe88ons  sent  in  support  of  the   project  during  the  underground  development   permivng  process     Local  sports  team  support   Awarded  in  Top  30  Irish-­‐North  American   Companies  for  2012  &  2013   Training  &  PPE  is  provided  to  local  land   owners  to  ensure  they  work  safely  
  • 13. Intercept in hole 11-CT-99 projected up dip to 170m mSL Not  a  Trend  but  a  District   GLACIATED  TERRAIN  WITH  MINIMAL  OUTCROP   12 km 1700m Curraghinalt Deposit Curraghinalt Trend 13 Curraghinalt Trend Veins in Current Resource Intersected Veins Historical Findings Geochem Anomaly Curraghinalt Deposit Resource as at Nov 2011 – Measured: 0.01 Moz Au (0.02MT @ 21.51 g/t) Indicated: 0.46 Moz Au (1.11MT @ 12.84 g/t) Inferred: 2.23 Moz Au (5.45 MT @ 12.74 g/t) Golan Burn Outcropping veins including 60cm @ 61.43 g/t Au Alwories Discovery Holes 4.72m @ 14.82 g/t Au 2.22m @ 14.10 g/t Au 1.47m @ 23.6 2g/t Au 400 m Step-out 3.2m @ 5.34 g/t Au Attagh Burn 2.47m @ 18.99 g/t Au
  • 14. Broader  Mineralized  Zones   14 CROSS-­‐SECTION  A  –  A’   Adit  
  • 15. 0 200   400   METRES   A  Growing  Resource:  600,000  Ounces  to  2.7  million  Ounces   15 2007  Resource   2010  Resource   2011  Resource   2012  Interpreta8ve  vein  extents   Drilling  post  2011  Resource  
  • 16. Curraghinalt:  A  Growing  Resource   16 2.47  m  @  5.19  g/t   0.10  m  @  21.28  g/t   0.44  m  @  11.68  g/t   0.60  m  @  6.02  g/t   0.43m  @  14.57  g/t   0.65  m  @  15.04  g/t   0.38  m  @  3.73  g/t   2.22  m  @  14.1  g/t   4.72  m  @  14.82  g/t   1.47  m  @  23.6  g/t   Curraghinalt Alwories Attagh Burn 3.6 km 2007  Resource   2010  Resource   2011  Resource   2012  Interpreted  vein  extents   Drilling  post  2011  Resource  
  • 17. Golan  Burn  to  Curraghinalt   17 6.5 km 2007  Resource   2010  Resource   2011  Resource   2012  Interpreted  vein  extents   Drilling  post  2011  Resource   Curraghinalt
  • 18. Measured:  0.01  Moz  Au  @  21.51  g/t)   Indicated  :  0.46  Moz  Au  @  12.84  g/t)   Inferred:      2.23  Moz  Au  @  12.74  g/t)   §  Open  in  all  direc8ons  except  up   18 CURRAGHINALT  RESOURCE  ESTIMATE     0   10000   20000   30000   40000   50000   60000   70000   80000   90000   0.0   0.5   1.0   1.5   2.0   2.5   3.0   3.5   4.0   4.5   5.0   2007                       (Pre-­‐DNA)   2010  DNA   Year  1   2011  DNA   Year  2   2012  DNA   Year  3   Millions  of  Ounces   Metres  Drilled   27  years  of  work   3  years  of  work   §  1986-­‐1987  resources  es8mates  are  historic  non  43-­‐101   compliant  resources   §  2003  to  2011  resource  es8mates  are  reported  43-­‐101   compliant   Images  presented  for  illustra8ve  purposes  only   Curraghinalt  Resource   RESOURCE  AS  AT    NOV  2011:     ?
  • 20. Preliminary  Economic  Assessment   20 20 KEY  PEA  DATA*   3  YEAR  TRAILING   AVERAGE  GOLD  PRICE:   $1378/ounce   5  YEAR  TRAILING   AVERAGE  GOLD  PRICE:   $1,166/ounce   NPV  with  8%  discount  rate  (A^er-­‐tax)   $467  million   $331  million   IRR  (A^er-­‐tax)   41.9%   33.4%   Average  Annual  Produc8on   145,000  ounces/year   Processing  Rate   1,700  tonnes/day   Life  of  Mine   15  years   Ini8al  Capex  ($38M  con8ngency)   $192  million   Cash  Costs   $532/ounce  or  $125/tonne   Diluted  Grade   8.1  g/t  Au   Gold  Recovery   92%   Payback   2  years   All  dollars  quoted  in  $  USD  unless  stated  otherwise   PEA  results  released  on  July  25,  2012.    The  PEA  is  preliminary  in  nature.    It  includes  inferred  mineral  resources  that  are  considered  too  specula8ve  geologically  to  have  the  economic  considera8ons  applied  to   them  that  would  enable  them  to  be  categorized  as  mineral  reserves.    There  is  no  certainty  that  the  results  of  the  PEA  will  be  realized.   *  Prepared  by  Micon  Interna8onal  Limited  
  • 21. PEA:  Mining   21 21 21 Longhole  Mining  with  Ramp  Access  &  Truck  Haulage:   §  Local  availability  of  experienced  longhole  miners   §  More  dilu8ve  than  cut  and  fill  but  less  expensive  and   easier  to  manage   §  1.8  metres  mined  width  (80%  dilu8on  on  resource)   §  20  metre  sub  level  spacing   §  Less  than  10  working  faces  at  any  one  8me   PROJECT   PRODUCTION  RATE   (TPD)   MINING  COST   (US$/T  MILLED)   COMMENTS   Curraghinalt   (Dalradian,  N.  Ireland)   1,700     (planned)   $76.50  (US$/t  mined)   (PEA  es8mate)   1.8  m  stope  widths   Bulyanhulu   (African  Barrick,  Tanzania)   3,300   $156.00   Narrow,  steeply-­‐dipping  veins   Daisy  Milano   (Silver  Lake  Resources,  W.   Australia)   540   Cash  Costs  of  $660/oz   Stope  widths  down  to  1  m   Lawlers   (Barrick,  Australia)   2,200   $30.06   (2003)   Shallow  dipping  veins,  2-­‐6  m  thick   Development  tunneling  at  Bulyanhulu  Gold  Mine  
  • 23. Background   §  Exis8ng  explora8on  tunnel  permieed  in  1987  and  subsequently   constructed  by  Ulster  Minerals  in  the  late  80s,  with  works   consis8ng  of:   –  A  410  m  adit  (3.0  x  2.5  m)  and  two  dri^s  totalling  290  m   (s8ll  accessible,  stable  and  in  use)   –  Ancillary  buildings  (now  removed)   –  Onsite  stockpiles  of  surplus  rock   (since  re-­‐graded  into  exis8ng  slope  contours)   –  Quan88es  of  mineralised  rock  transported  to  offsite  tes8ng  facili8es   §  DGL  acquired  the  Curraghinalt  Project  in  late  2009  and   commenced  surface  explora8on  drilling  in  2010     §  DGL  upgraded  the  resource  es8mates  in  Q2/2011  and  again   in  Q4/2011   –  Current  resource  stands  at  2.7  million  oz.  gold  (all  categories)   §  DGL  completed  Preliminary  Economic  Assessment  (PEA)   in  Q3/2012   §  Next  step  is  to  conduct  underground  explora8on  development   23
  • 25. Underground  Explora;on  Development   §  Extend  the  exis8ng  adit  by   approximately  260  m  to  intersect   all  known  veins;   §  Dri^  along  several  of  the  known   veins  &  demonstrate  vein   con8nuity;   §  Install  a  ramp  to  access  150  m  level,   approximately  20  m  below  exis8ng   workings;   §  Removal  of  large  bulk  sample  for   metallurgical  test  work.   § Dalradian  is  reques8ng  planning   permission  to  complete  approximately   2,000  m  of  underground  explora8on   development   T17   No.  1   106-­‐16   Bend   Crow   Road   Sheep  Dip   Mullan   Proposed  Access  Ramp   to  Sub-­‐Level   Proposed  Tunnel  Extensions   at  Sub-­‐Level   Proposed  Tunnel  Extensions   at  170  M  Level   Exis;ng  Explora;on   Tunnel  
  • 26. 26 Conceptual  Sublevel  Development 2,000  m  Planned  with  the  Goal  to:   •  Demonstrate  con8nuity  of  thickness  and  grade  of  mineralized  veins.   •  Convert  addi8onal  resources  to  Measured  and  Indicated.   •  Test  mining  and  backfill  methods.   •  Inves8gate  geotechnical  and  hydrogeological  condi8ons.   •  Produce  a  bulk  sample  for  metallurgical  test  work.   •  Test  the  permivng  process.   ROAD   SHEEPDIP   MULLAN   T17   No.  1   106_16   BEND   CROW   EXISTING  DEVELOPMENT   PLANNED     DEVELOPMENT   PLANNED     DEVELOPMENT   PLANNED     STOPING  
  • 27. Surface  Facili;es   Proposed  Works  –  Surface  Facili;es:   §  Designated  on-­‐site  storage  area  for  surplus   rock     §  Temporary  water  treatment  facility   §  Temporary  on-­‐site  explosives  store   §  Ancillary  facili8es:  office,  welfare,  services,   parking,  etc.   §  Project  will  be  constructed  on  surface   lands  controlled  by  DGL   27
  • 28. Permibng  Process   §  Consulta8on  with  The  Crown  Estate  and  DETI   §  Consulta8on  with  other  stakeholders  &  regulators   §  Planning  permission  (DoE  Planning  Service  –  Strategic  Planning  Division)   §  Explosives  storage  consent,  revision  to  the  exis8ng  discharge  consent;  water  abstrac8on  licence;   waste  management  (NIEA)   §  Explosives  store  consent  (DoJ  /  DoE)   28 Pre-­‐   consulta;on   Revisions  to  Exis;ng  Permits   Mobiliza;on  and  Site  Prep.   2013   2014   Q1   Q2   Q3   Q4   Q1   JAN   FEB   MAR   APR   MAY   JUN   JUL   AUG   SEP   OCT   NOV   DEC   JAN   FEB   MAR   Planning  Process   Explosives  Storage  Consent   Contractor  Selec;on   UG  Development   EIA  not  required   Planning  Permission   Judiciary  Review  Period  
  • 29. Where  We’re  Headed     29 §  Deposit  re-­‐evalua8on        Ongoing   §  Drill  results  finalized      Q3  2013   §  Historic  sampling  program  comple8on    Q3  2013   §  Historic  sampling  interpreta8on  &  results    Q4  2013   §  EIA  Requirement  Determina8on    Not  Required   §  Underground  permit      Q4  2013   §  Underground  work  commences    Q1  2014           §  We  are  posi8oned   §  Baseline  studies  underway   NORTHERN  IRELAND   NORWAY   ✓
  • 30. Next  Stop   Underground  Tour  of  Curraghinalt  Deposit  
  • 31. The European Explorer Patrick F. N. Anderson Chief Executive Officer Investor Relations Shae-Lynn Mathers Director, Investor Relations smathers@dalradian.com 416.583.5622 Trading Symbol: DNA on TSX DRLDF on OTCQX Corporate Office: Dalradian Resources Inc. 155 Wellington Street West Suite 2920 Toronto, Ontario Canada M5V 3H1 www.dalradian.com