Published on January 14, 2016
1. An Emerging UraniumAn Emerging Uranium Development CompanyDevelopment Company Roadshow Presentation November 2005
2. Some of the statements contained in this presentation are forward-looking statements, such as estimates and statements that describe future plans, objectives or goals, including words to the effect that High Plains expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to among other things, reserves, resources, results of exploration, reclamation and other post-closure costs, capital costs and mine production costs could differ materially from those currently anticipated in such statements by reason of factors such as changes in general economic conditions and conditions in the financial markets, changes in demand and prices for the minerals, litigation, legislative, environmental and other judicial, regulatory, technological and operational difficulties encountered in connection with mining activities, labor relations matters, costs and changing foreign exchange rates. This list is not exhaustive of the factors that may affect any of the forward-looking statements contained in this presentation. These and other factors should be considered carefully and readers should not place undue reliance on such statements. Unless otherwise indicated, all amounts are expressed in Canadian dollars. Forward Looking Statements 2
3. Issuer High Plains Uranium, Inc. Offering Size $25,000,000 - $35,000,000 Offering Price $1.25 - $1.75 per Common Share Over-Allotment Option 15%; exercisable for 60 days from closing Use of Proceeds Eligibility Eligible for RRSPs, RESPs, RRIFs and DPSPs in all provinces Listing An application will be made to list the Common Shares for trading on the Toronto Stock Exchange Pricing Week of November 7, 2005 Closing Week of November 14, 2005 Terms of the Offering For details, please refer to the Amended and Restated Preliminary Prospectus of High Plains Uranium, Inc. dated October 14, 2005 Allemand Ross Project Approx. $12 MM Swinney Switch Project Approx. $9 MM Acquisition and development of additional uranium opportunities $ ▪ Working capital and general corporate purposes $ ▪ TOTAL $ ▪ 3
4. Acquire large, previously explored uranium resourcesAcquire large, previously explored uranium resources with prior resource calculations in Wyoming, Texaswith prior resource calculations in Wyoming, Texas and other jurisdictions where more rapid permitting isand other jurisdictions where more rapid permitting is possible, with the goal of entering into production atpossible, with the goal of entering into production at the earliest possible opportunitythe earliest possible opportunity The Opportunity Since its formation in mid-2004, High Plains hasSince its formation in mid-2004, High Plains has acquired 6.8 million pounds of historical uraniumacquired 6.8 million pounds of historical uranium resources within a potentially larger global resourceresources within a potentially larger global resource High Plains is rapidly advancing its existing projectsHigh Plains is rapidly advancing its existing projects and targeting acquisitions of additional high-impactand targeting acquisitions of additional high-impact uranium prospects, principally in Wyoming and Texasuranium prospects, principally in Wyoming and Texas 4
5. Investment Highlights Rapidly advancing in-situ-leach (ISL) uranium projects in Wyoming andRapidly advancing in-situ-leach (ISL) uranium projects in Wyoming and TexasTexas Significant resources at principal projects in Wyoming (Allemand Ross) andSignificant resources at principal projects in Wyoming (Allemand Ross) and Texas (Swinney Switch)Texas (Swinney Switch) Knowledgeable and experienced Management Team supported by a strongKnowledgeable and experienced Management Team supported by a strong Board of DirectorsBoard of Directors Wyoming and Texas have several producing ISL uranium mines:Wyoming and Texas have several producing ISL uranium mines: mitigates permitting riskmitigates permitting risk Strongest uranium market in a generation: spot price at US$33/lbStrongest uranium market in a generation: spot price at US$33/lb Acquired leases totaling over 36,000 acres of high-impact uraniumAcquired leases totaling over 36,000 acres of high-impact uranium prospects with extensive drill patterns showing presence of uranium andprospects with extensive drill patterns showing presence of uranium and historical resource calculationshistorical resource calculations Significant financial flexibility + no debtSignificant financial flexibility + no debt 5
6. Knowledgeable and experienced Management Team supported by a strong Board of Directors Management Jim Baughman President & Chief Executive Officer 25 years of mining experience; manager for MK Gold Company from 1996 – 2001; uranium experience with Western Nuclear, Inc. in Wyoming John Ryan Chief Financial Officer Cadence Resource, Metalline Mining, Western Goldfields Dan Gorski Vice-President, Operations 35 years in uranium, base and precious metals exploration, development and operations, primarily in Mexico, Texas, and the western U.S. Board of Directors Bobby Cooper Chairman Former Chairman & CEO, Kennecott Howard Crosby Director 25 years of mining industry experience; former Vice President of UNC Nuclear Industries; President of Crosby Enterprises, Inc., and President and Chief Executive Officer of Cadence Resources Corporation Kurt Hoffman Director 10 years experience in all phases of mining; President and director of Sundance Diamonds Corp.; founder of Trend Mining Company Ishiung Wu Director Directorships and senior management positions with Trend Mining Company, IW Exploration Co., General Minerals Corporation, Exxon and Chevron. M.A. (1971) and Ph.D. (1975) in economic geology from Harvard University James A. Knox Director 45 years of experience in the mining industry. Former principal of James A. Knox and Associates, Inc.; former President and Chief Executive Officer of USMX, Inc. Philip S. Martin Director Experience in the mining industry as well as mining finance (TD Securities) and research; former consultant engineer with Dames & Moore Management & Board of Directors 6
7. Rapidly Advancing ISL Uranium Projects in Wyoming and Texas All the Properties Were Drilled Extensively in the Last Uranium Bull Market In-Situ-Leach Properties located in Wyoming and Texas Where Uranium Production Currently Exists and the Permitting Process is Straightforward and Relatively Faster than in Other States High Plains Has Secured a Significant Resource of Uranium in the Continental United States – Previously-Drilled, Mineralized Uranium Properties Inventory In The GroundInventory In The Ground Rapidly advancing ISL uranium projects in Wyoming andRapidly advancing ISL uranium projects in Wyoming and TexasTexas Low-Risk StrategyLow-Risk Strategy 7
8. High Plains’ Principal Projects 8
9. Allemand Ross Wyoming 9 0 1 0 0 0 2 0 0 0 3 0 0 0 5 0 0 0 fe e t 4 0 0 0 A L L E M A N D U S H P U p r o p e r t y A lle m a n d s u r fa c e r ig h t s D r i ll h o le D r i ll h o le , m i n e r a l iz e d D r i ll h o le , p r o p o s e d D e p o s i t R o ll fr o n t S u r fa c e b o u n d a r y S u r fa c e o w n e r M in e r a l o w n e r L e g e n d M a y 2 0 0 5 N H ig h P la in s U r a n iu m I n c o r p o r a t e d A lle m a n d R o s s - S a n d D r a w , B e a r C r e e k C o n v e rs e C o u n ty, W y o m in g , U .S . A . 1 1 1 2 7 8 1 71 81 31 4 2 3 2 4 1 9 2 0 U S A R 7 7 7 9 A R 8 1 - 9 4 D A R B Y U S - H P UA R 9 5 - 1 0 6 M o o r e - H P U U S - H P U M o o r e - H P U M o o r e - H P U U S - H P U W Y A R 1 0 9 - 1 1 2 M o o r e - H P U U S M o o r e - H P U M o o r e - H P U A R 4 7 - 5 0 1 0 7 1 0 8 M o o r e - H P U U S - H P U 5 1 - 5 4 U S - H P U U S - H P U U S - H P U U S - H P U H P U 1 - 4 6 D I L T S U S - H P U M o o r e - H P U M o o r e - H P U D I L T S D I L T S A R 5 9 - 6 8 7 9 , 8 0 M o o r e - H P U U S - H P U N O IT L N O I T L A L L E M A N D U S N O IT LA L L E M A N D U S A L L E M A N D U S N O I T L A L L E M A N D U S A L L E M A N D A L L E M A N D A L L E M A N D U S N O I T L A L L E M A N D U S W Y. D R IS C O L L N O I T L N O I T L N O IT L A L L E M A N D U S A L L E M A N D U S A L L E M A N D A L L E M A N D U S U S 456 3 1 3 2 3 3 T 3 9 N T 3 8 N R75W R74W N O I T L A L L E M A N D U S A L L E M A N D A L L E M A N D A L L E M A N D U S N O I T L U S U S N O I T L F E E A L L E M A N D N O I T L 2 5 3 0 2 9 2 8 2 1 1 6 3 6 1 7 8 9 1 2 W Y D R IS C O L L B e a r C r e e k S a n d D r a w M o o r e -H P U M o o r e /B o ll e y - H P U S p e a r h e a d - H P U S p e a r h e a d - H P U M o o r e -H P U M o o r e /B o ll e y - H P U
10. Swinney Switch Texas 10
11. Extensively Drilled Principal Projects Allemand Ross – Powder River Basin, Wyoming Property Surface Rights Mineral Rights Federal Lode Claims Pounds Sand Draw 2,765 acres 1,172 acres 1,593 acres Indicated 970,000 Recoverable Pounds Inferred 3,790,000 Recoverable Pounds Bear Creek 2,796 acres - 876 acres Inferred 827,700 Recoverable Pounds Total 5,561 acres 1,172 acres 2,469 acres Indicated 970,000 Recoverable Pounds Inferred 4,617,700 Recoverable Pounds Previous Exploration Conoco, Power Reactor and Nuclear Fuel Development Corp. Swinney Switch – Gulf Coast Uranium Province, Texas Property Surface Rights Mineral Rights Federal Lode Claims Pounds Wallace Ranch 3,144 acres 2,050 acres - 1,200,000 In-Situ Pounds Seager-Salvo 475 acres 475 acres - - Johnson 605 acres 726 acres - - Total 4,224 acres 3,251 acres - 1,200,000 In-Situ Pounds Previous Exploration TXO Minerals Total Surface Rights Mineral Rights Federal Lode Claims Pounds 9,785 acres 4,423 acres 2,469 acres Indicated 970,000 Recoverable Pounds Inferred 4,617,700 Recoverable Pounds 1,200,000 In-Situ Pounds 6,787,700 lbs.11 For further details, please see Amended and Restated Preliminary Prospectus dated October 14, 2005
12. North Platte Le Bar- Hall Ruby Ranch Reno Creek Red Desert Gas Hills Brelum Cadena Acreage* 8,920 3,760 3,640 1,360 13,160 4,420 Optioned 894 Location Wyoming Wyoming Wyoming Wyoming Wyoming Wyoming Texas Texas Previous Exploration UNC, Kerr- McGee and others JV between Denison Mines, Cabot, Pioneer Nuclear Cleveland Cliffs, TVA, Texas Eastern Nuclear Rocky Mountain Energy (previously delineated) Conoco, Kerr McGee, Texas Gulf Oil, Exxon Pathfinder Mines, Union Carbide, Western Nuclear, American Nuclear Mobil Oil, Coastal States Energy N/A Historical Resources √ √ √ √ √ √ √ √ * Acreage includes surface rights, mineral rights and federal claims Additional High-Impact Prospects Over 36,000 acres of high-impact uranium prospects 12
13. Milestones Achieved In just 14 months, High Plains has…In just 14 months, High Plains has… Successfully completed private placements towards the acquisition of the Allemand Ross and Swinney Switch properties plus its numerous prospects Commissioned and obtained a preliminary 3rd party assessment study (NI 43-101 Technical Report) on Allemand Ross and Swinney Switch by Micon International Built a portfolio of high-impact projects, including numerous properties in the prolific Powder River Basin of Wyoming and Gulf Coast Uranium Province of Texas Assembled its core Management Team and established a Board of Directors with extensive uranium industry experience 13
14. Growth Strategy Following its IPO, High Plains intends to…Following its IPO, High Plains intends to… Consolidate its Wyoming and Texas properties as well as close on the acquisition of a number of other attractive uranium prospects Complete engineering studies and core drilling at Allemand Ross and Swinney Switch to be followed by feasibility studies Negotiate participation/production contracts with nuclear utilities Actively seek a radioactive material license in Texas - a critical step towards facilitating production at its properties there 14
15. Strongest Uranium Market in a Generation $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99 01 03 05 US$/lbUranium X Low Uranium PricesLow Uranium Prices X Few Greenfields ProjectsFew Greenfields Projects ““Tight” MarketTight” Market Primary Supply << DemandPrimary Supply << Demand Rapidly Rising PricesRapidly Rising Prices OilShock Supply Shortage Inventory Drawdown Source: NUEXCO 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 220,000 2005E 2006E 2007E 2008E 2009E 2010E 2011E 2012E 2013E 2014E 2015E MMLbs.ofUranium Forecast Uranium Mine Production Forecast Uranium Demand Source: Paladin Resources, Research Capital Rising uranium pricesRising uranium prices resulting from …resulting from … ... growing projected... growing projected supply deficit from minesupply deficit from mine productionproduction Uranium Spot PriceUranium Spot Price Forecast Uranium Mine Supply v. DemandForecast Uranium Mine Supply v. Demand 15
16. Uranium producers (ex. Cameco, Denison, ERA, Cogema)Uranium producers (ex. Cameco, Denison, ERA, Cogema) currently trade at approximatelycurrently trade at approximately C$13.00/lb.C$13.00/lb. Near-producers (ex. Paladin Resources, SXR Uranium One)Near-producers (ex. Paladin Resources, SXR Uranium One) currently trade at approximatelycurrently trade at approximately C$4.50/lb.C$4.50/lb. Explorers (ex. Energy Metals, Maple Minerals, StrathmoreExplorers (ex. Energy Metals, Maple Minerals, Strathmore Minerals, Uranium Power, Western Prospector) currentlyMinerals, Uranium Power, Western Prospector) currently trade at approximatelytrade at approximately C$3.00.C$3.00. On a resource multiple (Enterprise Value/lb. of resource) …On a resource multiple (Enterprise Value/lb. of resource) … Assuming a C$30 MM initial public offering at C$1.50, HighAssuming a C$30 MM initial public offering at C$1.50, High Plains will have an Enterprise Value of ~ C$53 MM (US$45 MM)Plains will have an Enterprise Value of ~ C$53 MM (US$45 MM) Assume USD/CAD = 0.85 Valuation 16
17. 1 EV = Market Cap + Long Term & Short Term Interest Bearing Debt + Preferred Shares - Cash & Equivalents 2 Assumptions used for converting Market Cap. and Enterprise Value to USD for calculating EV/lb Reserve + Resource, Mkt. Cap./lb Reserve + Resource: CAD/AUD = 0.90, CAD/EUR = 1.40, CAD/USD = 1.20 3 Pro-forma for the merger of Southern Cross Resources and Aflease Resources announced July 5, 2005 subject to closing by year-end 2005. * In-situ-leach uranium extraction method ** URASIA share price is proposed IPO price Outliers not included in calculation of averages Source: Research Capital Corporation estimates Comparables 17 Share Price Market Enterprise EV / Producible Mkt. Cap. Producible / Ticker 2-Nov-05 Cap. (mlns) Value (mlns) 1 lb2 (C$) lb2 (C$) Explorers CANALASKA VENTURES CVV $0.36 $16 $12 $1.61 $2.20 ENERGY METALS * EMC $3.10 $80 $59 $2.26 $3.07 MEGA URANIUM LTD MGA $2.96 $90 $82 $3.90 $4.27 RODINIA MINERALS RM $0.96 $10 $9 $0.94 $1.03 STRATHMORE MINERALS STM $1.43 $73 $50 $1.11 $1.62 TRIEX MINERALS TXM $2.05 $18 $14 $3.48 $4.37 UEX UEX $3.87 $655 $603 $12.73 $13.83 URANIUM POWER UPC $0.40 $24 $20 $3.21 $3.90 WESTERN PROSPECTOR GROUP WNP $4.89 $183 $160 $6.94 $7.93 Average $2.93 $3.55 Near-Producers PALADIN RESOURCES PDN AUD 1.97 AUD 800 AUD 761 $6.23 $6.55 SXR URANIUM ONE 3 * SXR $1.15 $430 $426 $2.93 $2.95 Average $4.58 $4.75 Producers AREVA (COGEMA) CEI € 397.00 € 14,071 € 14,487 $20.00 $19.42 CAMECO CCO $59.40 $10,335 $10,748 $11.18 $10.75 DENISON MINES DEN $13.15 $336 $330 $12.58 $12.81 ENERGY RESOURCES OF AUSTRALIA ERA AUD 12.90 AUD 1,843 AUD 1,799 $3.87 $3.96 INTERNATIONAL URANIUM IUC $5.95 $485 $474 $9.66 $9.90 URANIUM RESOURCES * URIX $0.70 $94 $82 $1.82 $2.09 URASIA ENERGY *, ** N/A $1.80 $660 $87 $0.30 $2.28 Average $13.35 $13.22
18. Capitalization CapitalizationCapitalization Common Shares Outstanding 40,843,557 Common Shares Issued in IPO* 20,000,000 Basic Common Shares Outstanding Post-IPO 60,843,557 Options 1,050,000 Warrants 6,717,200 Fully Diluted Common Shares Outstanding Post-IPO 68,610,757 Based On a $30 MM IPO, Management & Board Would Beneficially Own Approximately 10% of the Common Shares Outstanding On a Fully Diluted Basis * Assumes $30,000,000 issue at $1.50 per share 18
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