Title: Metals Creek Resources
1Metals Creek Resources January 2009 Corporate
Update
Michael MacIsaac VP Exploration
Sandy Stares President CEO
Experienced Team, Endless Opportunities
2Forward Looking Statement
- Forward-Looking Statements Certain statements
included in this presentation are forward-looking
statements which are made pursuant to the safe
harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. They
include estimates and statements that describe
the Companys future plans, objectives and goals,
including words to the effect that the Company or
management expects a stated condition or result
to occur. When used herein, words such as
estimate, expect, believe, intend,
budget, plan, projection, progressing,
strategy, outlook, will, and other similar
expressions are intended to identify
forward-looking statements. In particular
statements relating to the estimated future metal
prices, cash flows, expenses, capital costs, ore
production, mine life, financing, construction
and commissioning are forward-looking statements.
Such forward-looking statements involve inherent
risks and uncertainties and are subject to
factors, many of which are beyond our control,
that may cause actual results or performance to
differ materially from those currently
anticipated in such statements. Important
factors that could cause actual results to differ
materially from those expressed or implied by
such forward-looking statements include among
others metal price volatility, changes in the
US/CDN dollar exchange rate, economic and
political events affecting metal supply and
demand, fluctuations in ore grade, ore tonnes
milled, geological, technical, mining or
processing problems, future profitability and
production, availability of financing on
acceptable terms and unexpected problems during
the development, construction and start-up phases
of the underground mine. For a more
comprehensive review of risk factors, please
refer to the Companys most recent Annual Report
in Form 40-F/Annual Report under Managements
Discussion and Analysis of Financial Results and
Annual Information Form under Risk Factors on
file with the U.S. Securities and Exchange
Commission and Canada provincial securities
regulatory authorities. The Company disclaims
any obligation to update or revise any
forward-looking statements whether as a result of
new information, events or otherwise. Readers
are cautioned not to put undue reliance on these
forward-looking statements. Descriptions of
mineral reserves and resources estimates included
herein under Canadian standards may not be
comparable to similar information made available
by U.S. companies subject to reporting and
disclosure requirements of the United States
Securities and Exchange Commission. See Mineral
Reserve and Resource Estimate Note to U.S.
Shareholders in the Annual Report in Form 40-F. - The presentation has been prepared by management
of Metals Creek Resources, and does not represent
a recommendation to buy or sell these securities.
Investors should always consult their investment
advisors prior to making any Investment decision.
3Investor Information
As of January 7, 2009 Market
cap ..Cdn4.725 million Trading
symbolsTSXV MEK Shares Fully
Diluted....35.31 million Issued and
Outstanding25.78 million 52 week
high ..Cdn0.49 52 week low.Cdn0.045 Web
sitewww.metalscreek.com
4Officers Directors
- Alexander Stares, President and CEO
- Wayne Reid, VP Corp. Development Director
- Michael MacIsaac, VP Exploration
- Nick Tsimidis, CFO Director
- Mick Stares, Director
- Denis Arsenault, Director
5Management Team
Alex (Sandy) Stares, President CEO Mr. Stares
has in excess of 12 years experience in mineral
exploration, spanning a variety of Canadian
geological terraines. Prior to forming his own
Contracting Company Stares Prospecting Ltd., as
of 2007, he has worked with Rubicon Minerals,
Inco, Freewest Resources of Canada, New
Millennium, Lac Des Isle Mines, and Noranda. Mr.
Stares was one of the recipients of the PDAC
Bill Dennis Prospector of the Year Award in
March 2007, which was awarded to members of the
Stares/Keats family. Michael MacIsaac, VP
Exploration Mr. MacIsaac brings over 20 years of
exploration and management experience. Mr.
MacIsaac received his B.Sc from Lakehead
University and has a Professional Geoscientist
(P.Geo) designation from the Association of
Professional Geoscientists of Ontario. His vast
experience entails both grass roots and advanced
projects across Canada, in gold, base metal and
PGE environments. This experience includes base
metal exploration with Noranda Exploration , Gold
exploration in the prolific Hemlo and Red lake
Gold Camps and PGE exploration for North American
Palladium , where he held position of
Exploration Manager. Instrumental in the
discovery of the Offset Zone (16MT) at the Lac
des Iles Mine site.
Wayne Reid, VP Corporate Development
Director Mr. Reid has in excess of 30 years
experience in exploration and mining geology.
Mr. Reid was instrumental in the discovery of the
Brewery Creek Gold Deposit in the Yukon Territory
and the Boundary Massive Sulphide Deposit / Duck
Pond Mine in Central Newfoundland.  His
experience includes gold, base metal and uranium
exploration in most geological environments in
North America. He has over 20 years with Noranda
/ Hemlo. Also, he has over 10 years in the
Timmins camp with Echo Bay Mines, as Canadian
Manager and Exploration Manager with St
Andrew Goldfields. Most recently he was VP
Exploration for Ucore Uranium. Nick Tsimidis,
CFO Director Mr. Tsimidis has been a sole
proprietor chartered accountant since 1993, and
has extensive experience in the public markets.
Mr. Tsimidis obtained his C.A. designation in
1989 and articled at KPMG. He continues to
service publicly traded companies in the areas of
finance, financial reporting and special projects
such as NSP Pharma Corp, Outlook Resources, and
RTICA Corp. Since February, 2005, Mr. Tsimidis
has served as Chief Financial Officer of First
Canadian Capital Markets, a limited market
dealer.
62008 ACTIVE EXPLORATION PROJECTS
7Ogden Joint VentureGoldcorp Ltd. / Metals Creek
Resources
- Signed Option Joint Venture (Nov 24/08) with
Goldcorp to earn 50 in Timmins West Property for
work expenditures of 3.1M and cash and shares
totalling 460,000 over 4 years - MEK to be operator during earn in and while it
holds a 50 interest - Goldcorp can earn back 20 for a cash payment of
310,000, expenditures of 4.1M and taking the
project to a Feasibility Study - Opportunity to explore along 8 km of the Prolific
Porcupine-Destor Break, partnered with World
Class Gold producer - Between 3 and 8 km to the east along strike, gold
production exceeds 22 million oz from six mines.
This includes the 16 million oz plus Dome Mine
and mill complex owned by Goldcorp - Lake Shore Gold, located 10 km on strike to the
west, is the focus of underground devt
Indicated Mineral Resource of 1,291,000 oz
(Source NR, TSXLSG, Nov. 20, 2006) - The past producing Naybob Mine (50,731 oz Au) is
located on the optioned claims and hosts a
historic non 43-101 resource of 1Mt _at_ 4.12 g/t
Au. - Historic drilling generally confined to Naybob
Mine Area and a cluster of holes in the Thomas
Ogden Area. Outside of this area, little or no
drilling. - Future work will be predominately drilling on the
numerous gold targets and trends once a detailed
compilation is complete - Work in the shadow of Head frames in a World
Class Gold Camp
8Ogden Project Geology Plan
9Exploring for Gold along the Porcupine-Destor
Break
10Limited Exploration for Gold along Highly
Prospective Stratigraphy
11Tillex/Currie Property
- Option Agreement with Kinross Gold to earn
Kinrosss 60 interest in the Currie Bowman
Project, Selkirk Metals holds remaining 40
interest - Limited drilling discovered Grindstone Creek Zone
(2.08 g/t Au / 18.9m incl. 3.95g/t Au, 132 g/t
Ag, 3.0 Zn / 2.1m) - Recent drill results on Tillex Deposit include
- 97.05m of 1.194 Cu incl. 37.05m of 2.583 Cu
- 81.13m of 1.83 Cu including 27.00m of 2.73 Cu
- Mineralization is Volcanogenic Massive Sulfide
style and consists of a package of banded,
massive and disseminated sulfides at the top of
an altered felsic pyroclastic. - The Tillex Deposit is located 6 km to the east of
the Grindstone mineralization and is on the
Grindstone Creek horizon - Non 43-101 resource Tillex Deposit (1.34 million
Tonnes _at_ 1.56 Cu) (Source TSX-VSVT website) - Recently completed detailed ground geophysical
survey (Mag and electromagnetics) and drilling - Recently completed a 2800m diamond drill program
on Tillex, assays pending on 9 remaining holes. - Proximal to Infrastructure, 45km from Kidd
Metalurgical site.
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13Tillex Geology
14Tillex Mag Geology
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16Tillex Longsection
17Tilt Cove Project
- MEK has controlling interest in 143 claim units
(3565 hect) in the Tilt Cove area of Newfoundland
including - An option to earn a 100 interest in the Tilt
Cove Mine property - An option to earn a 100 interest in the Betts
Cove Mine property - An option to earn a 60 interest in Paragon
Minerals Long Pond Project - Three MEK staked claim blocks
- Claims cover a portion of the Betts Cove
Ophiolite Complex which hosts two Cu-Au past
producers at Tilt Cove and Betts Cove and is
adjacent to the Nugget Pond Gold Mine and Mill.
The mill is still operating. Also host to new
PGE discovery with grades up to 11.4 g/t
Palladium, 3.0 g/t Platinum and 0.93 Nickel - The Copper Deposits are hosted by ocean floor
ultramafic volcanics and are characterized as
Cyprus-type mineralization - MEK recently completed Airborne AEM-MAG (Geotech
VTEM) over project area including the Betts Cove
and Tilt Cove Deposits - Initial prospecting completed on all properties
- Future work includes compilation of summers
prospecting, mapping and airborne AEM. Drilling
expected in 2009. - Significant Gold - Copper land package
18Tilt Cove Project
- Tilt Cove had historic production of 8,160,000
tonnes of Cu ore, _at_ 1-12 Cu(1957) - Evaluated mainly for Base Metals, limited
assaying for Au. MEK initial prospecting had
results from surface grab samples up to 69.39 g/t
Au and 10.4 Cu - Recent sampling of massive magnetite zone
returning assays of 13.2 and 6.5 g/t Au. New
target at the Cape St. John unconformity - Historic non 43-101 resources listed on the
property includes - 1Mt _at_ 1.00 Cu at the Cliff Zone
- 80,000t _at_ 2.06 g/t Au at the Waste Dump
- Betts Cove had historic production of 118,500
tonnes _at_ 10 Cu - Recent sampling up to 10.0 g/t Au and 18.3 Cu
- NEW PGE DISCOVERY within Late gabbroic intrusions
with values from 3 samples ranging - 6.6 to 11.4 g/t Pd, 1.15 to 3.0 g/t Pt, upto .155
g/t rhodium - 0.93 to 1.86 Cu, 0.25 to 0.93 Ni and 0.04 Co.
- Paragon Option has a number of gold showings
including - George Showing up to 315.1 g/T Au (9.20 oz/t)
- Long Pond showing up to 71.5 g/T (2.09 oz/t)
- Nudulama Zone up to 4.58 g/T Au and 8.7 Cu
19Tilt Cove Project Compilation
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22Dogpaw Joint VentureEndurance Gold / Metals
Creek Resources
- Option Joint Venture with Endurance Gold on the
Dogpaw property in the Cedartree Area - 450,000 over 2 years work expenditures
- Share distributions of 450,000 over 2 years
- Option to earn 75 interest in the project
- 23 unpatented claims, 4400 hectares
- 43-101 report, property of merit
- Prospective IP chargeability anomalies with
associated gold mineralization up to 23 g/t
within a sericite schist - Multiple surface showings with grabs up to 95 g/t
- 12 km on strike from Cameron Lake Deposit,
recently announced purchase of 700tpd mill for
Cameron Lake - Significant land position within Cedartree /
Cameron Lake gold play - Completion of recent prospecting program within
the stephens lake stock resulting in 27 percent
of the samples assaying over 1 g/t Au. - Discovery of 3 new Gold showings within the
Stevens Lake Stock with assays up to 18 g/t Au. - Strongly Carbonatized North South Structures with
associated pyrite mineralization.
23DOGPAW LAKE PROJECTPROPERTY LOCATION MAP
24Cedartree Area Properties
25Stevens Lake Claim Block SURFACE SAMPLE
RESULTS
26Proposed Work Program
- Ogden
- Model geology mineralization
- Prioritize drill targets
- 2000 meter drill program Winter/spring
- Tillex / Currie
- Compile results and geology from recently
completed drill program - Dogpaw
- Recently Completed Prospecting Program 3 new
showings - Line-cutting Geophysics over new gold
discoveries Winter?
- Tilt Cove Project Area
- Compile data from recently completed AEM-Mag
Airborne Geophysical Survey - Line-cutting Geophysics Winter/Spring
- Model Cliff Zone Resource
- Gabbro Lake
- Compile results of AEM-Mag-Radiometrics Airborne
Geophysical Survey to be completed in October - Awaiting results
- Ground truth prospective anomalies 2009 - Summer
27MEK Summary
- Partnered with two world class Gold Miners
Goldcorp Kinross - Managed by experienced team and core of
prospectors and geologists - Good exposure to Gold with advanced gold projects
in both Newfoundland and Ontario. - Advanced Au and Cu prospects with resources, past
production and ore grade intersections near
existing infrastructure. - Focusing on productive camps Timmins, Tilt Cove
with a balance of grassroots and advanced
projects. - Presently low market cap
- Mining friendly jurisdictions in Ontario and
Newfoundland Labrador