Summary Exploration Projects CanadaSummary Canada

Active Projects in New Brunswick New-Brunswick Bathurst Belledune Campbelton Brunswick #12 Mine Heath Steel Mine Caribou Mine Restigouche Mine Nigadoo Mine Puma and DNR offices Airport DNR Core Shack Railway Perfect Location for exploration Perfect Location for exploration 0 15 km Quebec Stable government policies that offer certainty and reduce the risk of longterm projects. Skilled labor force Airport, Railway, Paved Road Regional DNR Office and Core shack Bathurst area includes: Halfmile Stratmat Murray Brook Deposit Puma Highway 11 Turgeon Beresford Copper Sea port Benjamin Established Bathurst mining camp which welcomes employment opportunities Chaleurs Bay Puma Core Shack Ann’s Creek 2 Red Brook

LocalisationLocalisation 3 New-Brunswick Projects ProjectsNew-Brunswick Canada Manitoba Projects Manitoba US

Turgeon Project 4 High potential for more discoveries ▪ Untested geophysics and geochemistry anomalies ▪ High potential inside the mafic belt for new VMS ▪ Proximity of a large devonian intrusion Bern Zone Cu-Ag veins Chaleur Group Fournier Group (sed) Dalhousie Group (sed) Turgeon Cu-Zn Deposit Granodiorite Porphyry VMS favorable unit Chaleurs Bay kilometers Antinouri Lake Fournier Group (mv) Black Point Group Gold showings Base metals showings xMetals occurences Legend : N

3.2% ZnEq / 2.3m Sheeted Dyke Gabbro Mafic flow North Fault Center Fault Zn Fault Dragon Fault Zn Zone PowerlinePowerline Meters Jaspe Fault Favorable Rock (Alteration zone) N DragonDragon 2 km Open FT15-02 Sediments FT15-01 FT14-05FT15-03 FT13-13FT % ZnEq / 4.1m 3.3% ZnEq / 14.9m 3.8% ZnEq / 4.2m 3.3% ZnEq / 4.8m 4.1% ZnEq / 4.7m 4.5% ZnEq / 1.8m 3.5% ZnEq / 2.4m 4.6% ZnEq / 6.3m 3.8% ZnEq / 4.0m 4.2% ZnEq / 6.3m 3.5% ZnEq / 7.9m Fault 5 *Zneq (zinc-equivalent): Calculations use metal prices of $1.00/lbs zinc, $3.00/lbs copper, $15/oz silver and using the formula ZnEq% = Zn% + (Cu% X 3.0) + (Ag g/t*0.0218). Turgeon Property VMS

PLW Zn Zone Dragon Major Untested target Open NE survey limit 2.15% Zn / 4.80m Open SW Open NE Surface 0m 400m 6 Geophysical IP OreVision : Major Untested Targets Turgeon Property VMS

7 Major Untested target Pwl + Zn Zone Ishikawa Alteration Index (AI) At surface Looking East Major Alteration over 300m Looking South Dragon Major Target Geophysical IP OreVision : Hydrothermal alteration Turgeon Property VMS

15 PUMA exploration Pum 100% TR14-54 N Trench sample 1.07% Cu, 1.5 g/t Ag Trench sample 1.07% Cu, 1.5 g/t Ag Trench sample 2.05% Cu, 5.8 g/t Ag Trench sample 2.05% Cu, 5.8 g/t Ag Stratabound TR14-56 TR14-53 TR14-57 TR14-52 TR14-51 Trench sample 0.28% Cu, 1.1 g/t Ag Trench sample 0.28% Cu, 1.1 g/t Ag TR14-55 Prospection sample 0.46% Cu, 0.3g/t Ag Prospection sample 0.46% Cu, 0.3g/t Ag Prospection sample 0.79% Cu, 0.8g/t Ag Prospection sample 0.79% Cu, 0.8g/t Ag Prospection sample 0.59% Cu, 0.6g/t Ag Prospection sample 0.59% Cu, 0.6g/t Ag Stripping sample 13.4% Cu, 4 g/t Ag« Stripping sample 13.4% Cu, 4 g/t Ag« Stripping Area (Bern Zone) 25m 75m Turgeon South Property Stripping sample 9.74% Cu, 10.1 g/t Ag Stripping sample 9.74% Cu, 10.1 g/t Ag Bern Zone ? Bern Zone Cu-Ag

16 Summer 2014 ▪ Six (6) channels for 64 meters ▪ Seven (7) trenches for 1240 meters ▪ Stripping 75 meters by 25 meters ▪ Fault and shear hosted veins Cu-Ag (related to porphyry system) Quartz vein Sulphides Faults Channel (#)From (m)To (m)Length (m)Cu (%)Ag (g/t) R incl R incl R R incl incl R incl incl R incl m75m 25m25m Turgeon South Property Bern Zone Cu-Ag

Nicholas-Denys Projects Main Deposits PineTree Shaft Halfmile G.Northern Haché Beresford Copper Dante 100% PUM Nicholas-Denis area 100% PUM Ann’s Creek area Raya Main Deposits Main Fault RBM Fault Nigadoo Mine Nicholas-Denys Porphyry Deposit II Henry - East Stephen Brook km 0 12 Moly Mines Millstream Iron Lens Ag-Au-Pb-Zn Skarn Cu-Fe Porphyry Cu-Mo Skarn Zn-Ag Skarn Au 8

9 Signifiant Metallogenic System : 36 sq km mineralized halo Primary plutonic source Genetically related skarns Structural concentrators FND14-02 : 0,065%Mo / 200.7m FM12-02 : 0,051%Mo / 7.3m FND13-02 : 0,051%Mo / 4.2m F07-09 : 0,051%Mo / 43.4m F07-07 : 0,055%Mo / 14.8m FND14-03 : 0,048%Mo / 26.8m 0 1 km Beresford Copper Property RBM Fault (Polymetallic Lens) Main Fault (Skarn) Cu Skarn Cu-Fe Skarn IP Map N Targets Exploration Status : Underexplored, under 700m drilling per sq km Large, persistant Mo, Cu, Ag area over intrusion So far, one intercept with economic grades Numerous IP targets remain untouched Endo and Exoskarn zones to be tested Adjacent multi-metallic structural deposits Infrastructure 100% Puma, no royalties Located in historic mining area New-Brunswick is extremely mining friendly At sea level, with nearby smelter and port

73.5 million 0.075% Mo* 65.8 million 0.052% Mo* FND14-02 hit 0.065% Mo over 200m Incl % Mo over 117m ND Porphyry contains also significant Copper and Silver Credits *From Thompson Creek Metals website RESERVES 10 Beresford Copper Property

Hache Henry East Henry Shaft N N PineTree Millstream Fe Deposit II Dante Raya Bradley Au Main Fault RBM Fault Main Fault NW Structure The mineralization is open in all direction The mineralization is open in all direction Meters 11 Ann’s Creek Property Advanced works on both zones Advanced works on both zones

Haché Lens 92% of the silver 84% of the zinc 90% of the lead 80% of the gold 25 m of core for 30 kg Recovery 1.1 million oz of silver 11 million lbs of zinc 5 million lbs of lead 6,200 ounces of gold Indicated Resources The estimate covers only the central portion of the Haché zone, i.e., an area about 50m in length and 50m wide and includes only 33 holes. Since 90 holes for 21,000m NI Resources NI Resources 12 R1 R2 R3 R4 R5 Porphyre km 0 2 Mine Nigadoo Haché Area Stripping 100m X 50m Haché Haché west FH12-04 : 7.53% Zn, 529 g/t Ag, 1.70 g/t Au / 4.75m (25.53% Zneq) FH12-07 : 2,83% Zn, 286 g/t Ag, 0,72 g/t Au / 3.9m (12,57% Zneq ) FH12-01 : 5,08% Zn, 106 g/t Ag, 2.80 g/t Au / 5.0m (13,07% Zneq) R1 : 3,25% Zn, 1331 g/t Ag g/t Au 3.2m (49,4% Zneq) R1 : 3,25% Zn, 1331 g/t Ag g/t Au 3.2m (49,4% Zneq) R3 : 2,30% Zn, 327 g/t Ag g/t Au 16.7m (14,22% Zneq) R5 : 0,66% Zn, 226 g/t Ag g/t Au 11,6m (14,15% Zneq) R5 : 0,66% Zn, 226 g/t Ag g/t Au 11,6m (14,15% Zneq) R2 : 1,27% Zn, 233 g/t Ag g/t Au 16m (9,17% Zneq) R2 : 1,27% Zn, 233 g/t Ag g/t Au 16m (9,17% Zneq) R4 : 3,09% Zn, 384 g/t Ag g/t Au 7.75m (17,33% Zneq) R4 : 3,09% Zn, 384 g/t Ag g/t Au 7.75m (17,33% Zneq) N N Ann’s Creek Property

m Surface - 300m Resource SHAFT HACHÉ Haché West Targets Silver > 60 g/t Ag Haché and Shaft Lenses : Silver W E Ann’s Creek Property

g/t Ag over 11m (D) 3470 g/t Ag (G) 213 g/t Ag over 1m (D) 1025 g/t Ag g/t Au (G) 527 g/t Ag g/t Au over 4.5m (D) 984 g/t Ag g/t Au (G) 166 g/t Ag over 1.9m (D) 4080 g/t Ag (G) 207 g/t Ag + 1.7% Cu over 1.4m (D) 508 g/t Ag g/t Au (G) Bridge 631 g/t Ag g/t Au over 1.0m (D) Nicholas-Denys 100% PUM 169 g/t Ag g/t Au over 6.8m (D) km Drilling result (D) Grab sample (G) Sormany Gate Zarina Deposit 2 Great Northern Haché Millstream Iron PineTree Halfmile Lavigne Brook Stephen Brook Shaft Decline (1971) Cullinan Henry Dante Henry East Raya Bradley Gold Ann’s Creek 100% PUM Fault N N 248 g/t Ag g/t Au over 12.7m (D) 508 g/t Ag g/t Au over 1.2m (D) 84 g/t Ag g/t Au over 8.2m (D) 97 g/t Ag over 2.0m (D) 400 g/t Ag g/t Au over 2.5m (D) 509 g/t Ag g/t Au over 3.8m (D) 192 g/t Ag g/t Au over 3.1m (D) 138 g/t Ag g/t Au over 5.6m (D) Beresford Copper 195 g/t Ag + 1 g/t Au (D) 225 g/t Ag g/t Au over 29.1m (D) Ann’s Creek Property

New-Brunswick Benjamin Project Benjamin Project PUM Bathurst 17 Benjamin Formation (Felsic volcanic) Benjamin Formation (Felsic volcanic) Bryant Point Formation (Mafic volcanic) Bryant Point Formation (Mafic volcanic) Benjamin Project ● Gabbro phase ● Granodiorite phase (host mineralization) ● Quartz monzonite phase ● Late intrusion phase Located at 30km to west of the Turgeon Cu-Zn project in northern New- Brunswick Similar potential like Murdochville old mine according geology setting and copper grade New Mills Formation (Sedimentary rock) New Mills Formation (Sedimentary rock) Devonian intrusion (Intermediate rock ) Devonian intrusion (Intermediate rock ) Devonian intrusion (Mafic rock ) Devonian intrusion (Mafic rock ) BenjaminConnors

Benjamin River Project New-Brunswick Benjamin Project Benjamin Project meters PUM Bathurst 18 Soquem Reserve 0.18%Cu, 0.01%Mo ( Noncompliant ) Intermediate Intrusive phase Benjamin Formation (Felsic volcanic) Bryant Point Formation (Mafic volcanic) Best holes by Soquem Hole 7008 : 0.37% Cu, 109ppm Mo / 70.1m ( Hole 7008 : 0.37% Cu, 109ppm Mo / 70.1m (0.44%Cueq) Hole 7022 : 0.20% Cu, 156ppm Mo / 126.5m ( (0.28%Cueq) ConnorsProperty Mineralised Area The deposits is open Magnetic Map

Little Stull lake Project North Caribou Terrane Historical Resources NOT compliant Greenstone belts with associated faults Rusty Zone oz Au* Rusty Zone oz Au* Monument Bay 3.6M oz Au (43-101) Monument Bay 3.6M oz Au (43-101) Island Lake Gods Lake oz Au* Gods Lake oz Au* Simplified Geology of Manitoba Little Stull Lake oz Au* Little Stull Lake oz Au* San Gold Goldcorp Little Stull Lake Manitoba Ontario Gold Deposits Gold Occurences Gold Mineralization is shear-hosted (ca Ma) Associated alteration dominated by sericite, silicification and carbonitization (Fe-carb), minor fuschite Associated with finely disseminate pyrite and arsenopyrite Greenstone belts 19

Drill Results West Zone Zone 3W Zone 11W Zone 17W West Zone West Zone location Zone 3W Zone 11W Zone 17W LS-133 : 9.6 g/t Au over 4.0m LS-82 : 4.5 g/t Au over 45.2m LS-101 : 4.8 g/t Au over 9.7m LS-125 : 15.7 g/t Au over 4.0m LS-94 : 8.2 g/t Au over 4.1m LS-92 : 14.6 g/t Au over 3.0m LS-3 : 13.0 g/t Au over 2.7m LS-156 : 9.1 g/t Au over 6.0m LS-175 : 16.8 g/t Au over 3.0m LS-47 : 17.8 g/t Au over 3.0m LS-46 : 17.2 g/t Au over 3.0m LS-70 : 7.4 g/t Au over 47.0m LS-131 : 17.0 g/t Au over 3.0m LS-86 : 17.0 g/t Au over 3.0m LS-165 : 9.1 g/t Au over 3.9m LS-114 : 7.6 g/t Au over 6.1m meters LS-86 LS-156 LS-125 > 10 g/t Au > 5 g/t Au < 10 g/t Au > 2 g/t Au < 5 g/t Au Gold grade over 2m Mineralised Zone Fault Zone LS-82 Incl. 14,5 g/t Au over 3.5m Incl g/t Au over 3.0m LS-70 Little Stull lake Project

Red Brook Project New-Brunswick Red Brook Property 0 2 KM PUM Bathurst 21 Balmoral Group (Mafic volcanic) 23 claims totaling 500 hectares located 20 km west of Puma's Benjamin Project and 50 km west of Nicholas-Denys Project. Claim Bloc 7221 SampleAuAgCuZn #g/t % ,572,10,20, ,022,50,313, ,012,40,27, ,012,50,38, ,012,70,213, ,011,80,27, ,063,00,70, ,052,20,70, ,821,30,30, ,382,10,50, ,551,80,40,0 Red Brook Granodiorite (Felsic Intrusion) Chaleurs Group Sediments Matapedia Group Carbonate Geological Map

New-Brunswick Red Brook Property 0 2 KM PUM Bathurst claims totaling 500 hectares located 20 km west of Puma's Benjamin Project and 50 km west of Nicholas-Denys Project. Claim Bloc 7221 SampleAuAgCuZn #g/t % ,572,10,20, ,022,50,313, ,012,40,27, ,012,50,38, ,012,70,213, ,011,80,27, ,063,00,70, ,052,20,70, ,821,30,30, ,382,10,50, ,551,80,40,0 EM Map Red Brook Project

Partnerships 23 Jeff Hussey and Associates Inc Exploration, Mining, and Geo-Metallurgy McCutcheon GeoConsulting Geological mapping, mineral deposit & writing/editing expertise Entreprise Beresford Excavation Excavation, Road construction, Floating heavy equipment Forage de l’Est Drilling