1. The
European
Explorer
│
Investor
Presenta4on
April
2012
Patrick
F.
N.
Anderson
Chairman
and
Chief
Execu4ve
Officer
2. Forward-‐Looking
Statement
&
Qualified
Persons
This
presenta4on
contains
“forward‑looking
informa4on”
which
may
include,
but
is
not
limited
to,
statements
with
respect
to
the
comple4on
of
the
acquisi4on
(the
“Acquisi4on”)
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
opera4ng
performance
of
the
Company
and
its
mineral
projects,
the
future
price
of
metals,
the
es4ma4on
of
mineral
resources,
the
realiza4on
of
mineral
resource
es4mates,
the
4ming
and
amount
of
es4mated
future
produc4on,
costs
of
produc4on,
capital,
opera4ng
and
explora4on
expenditures,
costs
and
4ming
of
the
development
of
new
deposits,
costs
and
4ming
of
future
explora4on,
requirements
for
addi4onal
capital,
government
regula4on
of
mining
opera4ons,
environmental
risks,
reclama4on
expenses,
4tle
disputes
or
claims
and
limita4ons
of
insurance
coverage.
OSen,
but
not
always,
forward‑looking
statements
can
be
iden4fied
by
the
use
of
words
and
phrases
such
as
“plans,”
“expects,”
“is
expected,”
“budget,”
“scheduled,”
“es4mates,”
“forecasts,”
“intends,”
“an4cipates,”
or
“believes”
or
varia4ons
(including
nega4ve
varia4ons)
of
such
words
and
phrases,
or
state
that
certain
ac4ons,
events
or
results
“may,”
“could,”
“would,”
“might”
or
“will”
be
taken,
occur
or
be
achieved.
Forward-‐looking
statements
are
based
on
the
opinions
and
es4mates
of
management
as
of
the
date
such
statements
are
made
and
are
based
on
various
assump4ons,
such
as
approvals
from
the
Toronto
Stock
Exchange
and
the
Norwegian
Directorate
of
Mining
will
be
obtained
in
respect
of
the
Acquisi4on,
the
con4nued
poli4cal
stability
in
Northern
Ireland
and
Norway,
that
permits
required
for
the
Company’s
opera4ons
will
be
obtained
in
a
4mely
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
opera4ons
con4nue
to
grow,
that
the
price
of
gold
will
be
at
levels
that
render
the
project
economic,
or
that
the
Company
will
be
able
to
con4nue
raising
the
necessary
capital
to
finance
its
opera4ons
and
realize
on
mineral
resource
es4mates.
Forward‑looking
statements
involve
known
and
unknown
risks,
uncertain4es
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,
compe44ve,
poli4cal
and
social
uncertain4es;
the
actual
results
of
current
explora4on
ac4vi4es;
actual
results
of
reclama4on
ac4vi4es;
conclusions
of
economic
evalua4ons;
changes
in
project
parameters
as
plans
con4nue
to
be
refined;
future
prices
of
metals;
possible
varia4ons
of
ore
grade
or
recovery
rates;
failure
of
plant,
equipment
or
processes
to
operate
as
an4cipated;
accidents,
labour
disputes
and
other
risks
of
the
mining
industry;
poli4cal
instability;
delays
in
obtaining
governmental
approvals
or
financing
or
in
the
comple4on
of
development
or
construc4on
ac4vi4es,
as
well
as
those
factors
discussed
in
the
sec4on
en4tled
“Risk
Factors”
in
the
Company’s
Annual
Informa4on
Form.
Although
the
Company
has
aempted
to
iden4fy
important
factors
that
could
cause
actual
ac4ons,
events
or
results
to
differ
materially
from
those
described
in
forward‑looking
statements,
there
may
be
other
factors
that
cause
ac4ons,
events
or
results
to
differ
from
those
an4cipated,
es4mated
or
intended.
Forward‑looking
statements
contained
herein
are
made
as
of
the
date
of
this
presenta4on
and
the
Company
disclaims
any
obliga4on
to
update
any
forward‑looking
statements,
whether
as
a
result
of
new
informa4on,
future
events
or
results,
except
as
may
be
required
by
applicable
securi4es
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
an4cipated
in
such
statements.
Accordingly,
readers
should
not
place
undue
reliance
on
forward‑looking
statements.
Some
technical
data
in
this
presenta4on
was
taken
from
the
technical
report
en4tled
“An
Updated
Mineral
Resource
Es4mate
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
Kan4
Mukhopadhyay,
M.Sc.,
MAusIMM,
of
Micon
Interna4onal
Limited
(the
Technical
Report ).
Damien
Stephens,
BSc.(hons),
M.AIG,
M.AusIMM,
Explora4on
Manager,
Dalradian
Resources,
is
the
Qualified
Person
who
supervised
the
prepara4on
of
the
technical
data
in
this
presenta4on.
John
McCombe,
PEng,
Chief
Opera4ng
Officer,
Dalradian
Resources
Inc.,
is
the
Qualified
Person
who
supervised
the
prepara4on
of
the
technical
data
in
this
presenta4on.
2
3. Corporate
Informa=on
STOCK
PRICE
TSX
DNA
$3.00
$3,000.00
Shares
outstanding
89.3
million
Fully
diluted
94.8
million
$2,800.00
Market
cap.
$113
million
$2.50
$1.33 $2,600.00
(April
5,
2012)
April 5, 2012
Average
volume
28,504
$2.00
$2,400.00
(30
day)
$2,200.00
52
Week
Range
$2.42
-‐
$1.27
$1.50
$2,000.00
$1,800.00
Andrew
Mikitchook
$1.00
Analyst
coverage
$1,600.00
Jamie
Spra
$1,400.00
$0.50
Craig
Stanley
$1,200.00
$0.00
$1,000.00
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
2011
2011
2011
2011
2011
2012
2012
2012
All
dollars
quoted
in
$
CAD
3
4. The
European
Explora=on
Company
NORTHERN
IRELAND
NORWAY
§ High-‐grade
2.7M
ounce
gold
resource
§ Posi4oned
for
discovery
(all
categories)1
− 4
greenstone
belts
− Measured:
0.02
MT
grading
21.51
g/t
Au
for
− historic
silver
camp
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
§ Ac4ve
field
program
§ Data
capture
underway
§ Approx.
84,000
ha
property
§ Approx.
1.7M
ha
property
§ Mining
friendly
country
§ Mining
friendly
country
− Government
investment
in
− Government
investment
in
geological
surveys
geological
surveys
− Excellent
infrastructure
− Excellent
infrastructure
§ DNA
second
largest
mineral
rights
holder
§ DNA
largest
mineral
rights
holder
in
Northern
Ireland
in
Norway
1
Refer
to
press
release
en4tled
“Dalradian
Announces
Resource
Increase
at
Curraghinalt”
at
www.dalradian.com
4
5. Our
Board:
A
Track
Record
of
Discovery
and
Development
PATRICK
F.
N.
ANDERSON
KEITH
D.
MCKAY
CHAIRMAN
AND
CHIEF
EXECUTIVE
OFFICER
CHIEF
FINANCIAL
OFFICER
Former
CEO
of
Aurelian
Resources
Former
CFO
of
Aurelian
Resources
Also
Director
of
Colossus
Minerals,
Malbex
Resources
Also
Director
of
Noront
Resources
and
Con=nental
Gold
COLIN
K.
BENNER
THOMAS
J.
OBRADOVICH
CHAIRMAN
OF
DELTA
MINERALS
AND
AURICO
GOLD
CHAIRMAN
OF
LAGO
DOURADO
MINERALS
LTD.
Also
Director
of
Mercator
Minerals,
Lundin
Mining,
Former
CEO
of
Young-‐Davidson
Mines
Troon
Ventures,
and
Corsa
Capital
Former
Director
of
Aurelian
Resources
JOSEPH
F.
CONWAY
SEAN
E.
O.
ROOSEN
CEO
OF
PRIMERO
MINING
CORP.
CEO
OF
OSISKO
MINING
CORPORATION
Former
CEO
of
IAMGOLD
Also
Director
of
Rio
Novo
Gold,
Bowmore
Explora=on
and
Astur
Gold
RONALD
P.
GAGEL
ARI
B.
SUSSMAN
Former
SVP
and
CFO
of
FNX
Mining
EXECUTIVE
CHAIRMAN
OF
COLOSSUS
MINERALS
Also
Director
of
Adriana
Resources
and
CEO
OF
CONTINENTAL
GOLD
LIMITED
Stonegate
Agricom
5
6. Board:
Worldwide
Project
Experience
PATRICK
F.
N.
ANDERSON
KEITH
MCKAY
COLIN
K.
BENNER
THOMAS
J.
OBRADOVICH
Coal
Precious
metals
Base
metals
Base
metals
Precious
metals
Diamonds
Precious
metals
Precious
metals
JOSEPH
F.
CONWAY
SEAN
E.
O.
ROOSEN
RONALD
P.
GAGEL
ARI
B.
SUSSMAN
Precious
metals
Precious
metals
Precious
metals
Precious
metals
Base
metals
6
7. Northern
Ireland:
§ Our
flagship
asset:
Curraghinalt
U.K.
&
BRITISH
ISLES
NORTHERN
mesothermal
high-‐grade
gold
deposit
IRELAND
§ Excellent
regional
infrastructure
Curraghinalt
Deposit
§ Over
84,000
hectares
under
explora4on
Lonmin
§ Poten4al
exists
for
further
precious
and
base
metals
deposits
Irish
Salt
Mining
Gor4n
Rousky
Cavanacaw
Galantas
Gold
Omagh
BELFAST
Conroy
Diamonds
&
Gold
In
produc4on
Exploring
for
Pla4num
and
Extensive
since
late
2007
gold
along
a
palladium
underground
50
km
trend
explora4on
mining
7
14. Curraghinalt
Historical
Resource
Es=mates
3
60,000
• 1986-‐1987
resources
Curraghinalt
Resource
es4mates
are
Es=mate
History
historical
non
43-‐101
2.5
50,000
compliant
resources
2
40,000
Million
of
Ounces
• Presented
for
Metres
Drilled
illustra4ve
purposes
1.5
30,000
Inferred
only
Indicated
1
20,000
• 2003
to
2011
Measured
resource
es4mates
0.5
10,000
are
reported
43-‐101
Metres
Drilled
compliant
0
0
1986
1989
1996
01-‐May-‐1997
01-‐Oct-‐1997
30-‐Jan-‐2003
27-‐Jan-‐2005
29-‐Nov-‐2007
30-‐Nov-‐2009
30-‐Nov-‐2011
Resource
Es=mate
14
15. Development
Timeline
–
Northern
Ireland
2012
2013
Q1
Q2
Q3
Q4
Q1
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
JAN
FEB
MAR
Preliminary
Economic
Assessment
Environmental
Baseline
Study
U/G
Drilling
App’n
*U/G
Drill
Permieng
U/G
Infill
Drilling
U/G
Explora=on
Dvlpt
Applica=on
U/G
Exp
Development
Permieng
Process
U/G
Exp
Dvlpt
* March 9, 2012 – Underground Drilling Application Submitted
15
16. Norway:
“Let the Treasure Hunt
Begin”
Industry Minister, Trond Giske at Press conference announcing new direction in
16 mineral strategy for Norway
17. Another
Mining
Friendly
Jurisdic=on
• The
new
Mineral
Act
legisla4on
passed
in
January
2010
to
promote
mining
ac4vi4es
4
3
1
2
• Minister
of
Industry
announces
large
investment
over
4
years
to
iden4fy
mineral
resources
SWEDEN
RUSSIA
• Dalradian
has
acquired
mineral
rights
over
6
areas
including
four
greenstone
belts
and
an
FINLAND
historic
silver
mining
camp
NORWAY
HELSINKI
• Proper4es
total
more
than
1,700,000
OSLO
hectares
STOCKHOLM
Dalradian
Concession
Areas
Greenstone
Belts
1
Kielä
2
Sakaelampi
3
Pechenga
4
Bidjovagge
17
18. Next
Steps
NORTHERN
IRELAND
NORWAY
§ Development:
§ Data
acquisi4on/compila4on
§ Preliminary
Economic
Assessment
§ Data
analysis
§ Permivng
Applica4on
Process
§ Explora4on:
§ Boots
on
the
ground
§ Curraghinalt
trend
§ Geophysics
&
geochemistry
§ Target
selec4on
§ Corporate
Social
Responsibility:
§ Ground
truthing
§ Enhance
CSR
strategy
&
leverage
best
prac4ces
§ Drill,
drill,
drill…
§ ISO
26000
cer4fica4on
18
19. The European Explorer
Patrick F. N. Anderson
Chairman &
Chief Executive Officer
Investor Relations
Shae-Lynn Mathers
Director, Investor Relations
smathers@dalradian.com
416.583.5622
Trading Symbol:
DNA on TSX
Executive Office:
Dalradian Resources Inc.
155 Wellington Street West
Suite 2920
Toronto, Ontario
Canada M5V 3H1
www.dalradian.com
19
21. Curraghinalt
NI
43-‐101
Technical
Report
§ Prepared
by
Micon
Interna4onal
Limited
§ Dated
January
10,
2012
§ Updated
from
May
10,
2010
and
reflects
revised
gold
price
Curraghinalt Mesothermal Gold Deposit
Measured
0.02 MT @ 21.51 g/t Au for 0.01 million contained ounces
Indicated
1.11 MT @ 12.84 g/t Au for 0.46 million contained ounces
Inferred
5.45 MT @ 12.74 g/t Au for 2.23 million contained ounces
Notes:
§ Subject to a 2% NSR royalty to Minco Plc and a 4% royalty to the Crown Estate on silver and/or gold production
§ Assumes US$900/oz and an economic cut-off grade of 5 g/t Au over a minimum thickness of 0.10 metres, diluted to 1 metre at 0 grade
§ Using a cut-off grade of 5 g/t
§ All veins less than 10 cm were excluded
§ Width or vein thickness is measured at 90 degrees to the vertical
§ "Vein thickness" refers to a zone of grade and may not be 100 per cent vein material
§ Please see "A Mineral Estimate for The Curraghinalt Gold Deposit, Tyrone Project, County Tyrone and County Londonderry, Northern Ireland” dated January 10,
2012 and available at www.dalradian.com
21
22. Ac=ve
Resource
Industry
in
County
Tyrone
There are approximately 150 quarries across Northern Ireland
22
23. Here
be
Monsters…
1. Kielä
Gold
Mine
4
3
– Largest
gold-‐mine
in
Europe
– Total
combined
MI&I
=
6.8Moz
Au
1
2
2. Saka=llampi
Discovery
SWEDEN
RUSSIA
– Possibly
largest
nickel-‐copper
deposit
discovery
in
Europe
(reported
samples
of
4%Ni)
FINLAND
– Announced
by
AngloAmerican
NORWAY
on
November
3rd,
2011
HELSINKI
3. Pechenga
District
OSLO
STOCKHOLM
– In
Russia
~
25km
from
Norwegian
border
– Probable
reserves
of
150Mt
@
1%
Ni
and
Proven
Reserves
of
30Mt
@
2%
Ni,
1%
Cu,
0.04%
Co
Other
Deposits
Dalradian
Concession
Areas
4. Bidjovagge
Gold-‐Copper
Mine
Greenstone
Belts
– Historical
produc4on
of
greater
than
200,000
ounces
of
Au
&
14
M
pounds
of
Cu
23
