AN EXCITING EVOLUTION! EASTMAIN RESOURCES INC. ER:TSX CORPORATE - - PowerPoint PPT Presentation

AN EXCITING EVOLUTION!

EASTMAIN RESOURCES INC. ER:TSX

CORPORATE PRESENTATION | FEBRUARY 2017

FORWARD LOOKING STATEMENTS

Certain information set forth in this presentation may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to any potential director nominations, actions taken in respect

• f director nominations received by Eastmain, actual results of current and future exploration activities at the

Company's properties, and the potential success of the Company’s future exploration and development

• strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which

are beyond the control of Eastmain, including, but not limited to he results of matters to be considered at the upcoming annual and special meeting of shareholders of Eastmain, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 2

THE NEW EASTMAIN

ADVANCING ASSETS WITH THE POTENTIAL FOR RESOURCE GROWTH

THE TRIANGLE OF SUCCESS

KEY PROJECTS

CLEARWATER PROJECT

The Anchor Project: High-Grade Resource with Open-pit and Underground Potential

EASTMAIN MINE PROJECT

A Past-Producer with Historic Resources and Growth Potential

ÉLÉONORE SOUTH JV

Indicative Geochemical Signature

8 OTHER SIGNIFICANT LAND PACKAGES

Prospective Gold Potential Strategically Staked Claims

TOP LAND POSITION IN THE JAMES BAY GOLD DISTRICT

Total Land Package: 137,665 hectares Top Mining Jurisdiction Access to Roads and Power

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 3

EASTMAIN January 30, 2017

Shares outstanding 175,429,814 Options (W Avg Life - 6.83 yrs, $0.68) 10,803,605 Warrants (Expire 11/10/18 , $0.50) 6,899,999 Fully-Diluted 193,133,417 Market Capitalization (20-day VWAP) $89 million Share Price (20-day VWAP) $0.51 52 Week High/Low $0.97 - $0.29 Daily Average Volume (30 day avg) 620,463

CASH POSITION

$11.5 M

FT Funds: $8.6 M as of January 30, 2017

CURRENT PROGRAM BUDGET INCL. G&A - MID-2017

$5.4 M

CAPITAL STRUCTURE

TSX:ER

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 4

Beacon Securities - Mike Bandrowski Cormark Securities - Tyron Breytenbach Echelon Wealth - Ryan Walker GMP Securities - Ingrid Rico Laurentian Securities Mackie Research Capital - Barry Allan/Ryan Hanley Macquarie Capital - Michael Gray Paradigm Capital - Don Blyth

TOP SHAREHOLDERS Polygon 17.1 million 9.7% Goldcorp 10.5 million 6.0% Integra Gold 8.9 million 5.1% RBC Asset Management 7.7 million 4.4% Van Eck 7.4 million 4.2% Gabelli & Company 3.6 million 2.0% Don Robinson 2.7 million 1.6% Mackenzie Investments 2.6 million 1.5% Caisse du Depot (Sodémex) 2.6 million 1.5% US Global 2.3 million 1.3% Industrial Alliance Inv Mgmt 1.9 million 1.1% Commodity Discovery Fund 1.5 million 0.9% Industrial Alliance Insurance 1.4 million 0.8% Sentry 1.3 million 0.7%

ANALYST COVERAGE

CAPITAL STRUCTURE SHAREHOLDERS

TSX:ER

Insiders 2% Retail 49% Institutional & Major Shareholders 38% Goldcorp 6% Integra 5%

OWNERSHIP

TOP INSIDERS Claude Lemasson 1.0 million 0.6% Blair Schultz 1.0 million 0.6% Joe Fazzini 0.3 million 0.1% Mike Hoffman 0.2 million 0.1% Timo Jauristo 0.2 million 0.1% Laurie Curtis 0.1 million 0.1%

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EVOLUTION OF THE BOARD AND MANAGEMENT

Claude Lemasson President & CEO and Director Laurence (Laurie) Curtis Chairman Michael Hoffman Mine Engineer & Executive Blair Schultz Capital markets experience WELL-ESTABLISHED BOARD OF DIRECTORS Timo Jauristo Geologist, ex-Goldcorp Corp Dev Exec Stephen De Jong Integra President & CEO George Salamis Integra Chairman INTEGRA TECHNICAL ADVISORS Previous experience with Management, the Éléonore Project (Goldcorp), & the James Bay region Hervé Thiboutot, Geological Engineer Integra Senior VP Jacques Simoneau, P.Geo. Integra Exploration Manager Claude Lemasson, P.Eng, MBA President & CEO

• Highly-skilled mining professional
• 30 yrs of mine dev’t & operational experience
• Direct experience with Goldcorp’s Éléonore

project in northern Québec Joe Fazzini, CPA, CFA, CA CFO & VP Corporate Development

• 10+ yrs advising and auditing global gold and

base metal producers through PwC & Dundee Capital Markets. Alison Dwoskin, CPIR Manager, Investor Relations

• 10+ yrs in mining Investor Relations

MANAGEMENT TEAM Bill McGuinty, P.Geo VP Exploration

• 30 yrs experience in Canada and Latin

America, from exploration to environmental and feasibility studies Manuel Ng-Lai, P.Eng Project Engineer

• 10+ yrs in the technical services sector

Carl Corriveau, P.Geo, SEG Exploration Manager

• 15+ yrs industry experience, including

project management and evaluation, advancing projects from exploration through economic studies

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 6

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 7

$96 $92 $81 $77 $77 $72 $63 $54 $48 $40

$37

$33 $0 $20 $40 $60 $80 $100 $120

Probe Metals Osisko Mining Auryn Resources Integra Gold Marathon Gold ATAC Resources Pure Gold IDM Mining Treasury Metals Victoria Gold Eastmain Resources Sabina Gold & Silver

EV Per Ounce (C$/oz)

VALUE OPPORTUNITY VS PEERS – EV/OZ

42% GROWTH TO MATCH PEER AVERAGE

AVERAGE $64 PER EV/OZ

Data compiled by Mackie Research based on most recent company financial reports, February 3, 2017. *Eastmain data Includes Clearwater MI&I mineral resources (June 2015) and Eastmain Mine historic resources (255,000 oz @ 10 g/t Au).

CENTRAL JAMES BAY GOLD CAMP

EMERGING GOLD DISTRICT Production

The Canadian Shield has produced over 200 million

• unces of gold

Life Cycle

James Bay is one of the youngest camps in the Canadian shield

Exploration

Potential for many more discoveries as exploration advances

Development

Rapidly improved infrastructure to speed up pace of exploration

• 1. The production and reserve figure for James Bay Central Camp includes Eastmain’s resources as there are currently no reserves. 2. The Eastmain mine extracted 40,000 ounces in 1995. 3. Casa Berardi and

Chibougamau are located in Southern James Bay Source: Company reports, government studies, and academic journals.

Central James Bay Rice Lake Casa Berardi Detour Hemlo Chibougamau Red Lake Rouyn-Noranda Val D’or Kirkland Lake Timmins 7 2 3 23 21 7 28 20 30 45 74

Production & Reserves (Millions of Ounces) First Gold Pour (Year)

2014 2005 1988 1983 1981 1952 1930 1927 1923 1915 1909

District

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 8

SUPERIOR INFRASTRUCTURE IN A TOP JURISDICTION

EMERGING GOLD DISTRICT

Note: Clearwater is accessible via a commercial airport at Nemaska, located 80 kms south

• f the project. Route 167 Nord has been constructed from Temiscamie north to the Renard

Project, providing permanent road access to the Eastmain Mine project.

Ruby Hill Lac Lessard

Eastmain Mine

Route 167 Nord All-season road

Clearwater

Lac Hudson Reservoir Lidge Lac Elmer Radisson

Éléonore South JV

JAMES BAY REGION

50KM

Eastmain

James Bay

Mistissini Temiscamie Éléonore Mine Goldcorp Renard Mine Stornoway Troilus Mine Copper One Wemindji Waskaganish Chisasibi Nemaska Radisson

Lac Clarkie

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 9

137,655 hectares

CLEARWATER PROJECT

ADVANCED EXPLORATION ON THE EAU CLAIRE DEPOSIT

EAU CLAIRE: MINERAL RESOURCE ESTIMATE 1 Total Measured & Indicated: 951,000 oz @ 4.09 g/t Au - 7,225,000 tonnes Total Inferred: 633,000 oz @ 3.88 g/t Au – 5,072,000 tonnes

PROPERTY 51,614 hectares 30 person camp incl. full- kitchen, core-shack and cabins Hydro-power (20 kms away), road and nearby airports James Bay gold district greenstone belt, volcanics 100% ownership

Note 1. Technical Report for the Eau Claire Deposit, Clearwater Project by SRK Consulting (June 2015) filed

• n SEDAR.

UPCOMING CATALYSTS Drilling results (1Q 2017) Mineral resource update (MID-2017) Preliminary Economic Assessment (END OF 2017)

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 10

Piano key breccia EM-1 power: 20 km from camp Clearwater’s 30-man camp

EAU CLAIRE MINERAL RESOURCE

OPPORTUNITY TO IMPROVE QUALITATIVE AND QUANTITATIVE DATA

77%

More drilling data in next mineral resource update Q2 2017

13,000 metres - drilling from late 2015 63,300 metres - in progress - 2016 and early 2017

Note: 5,000 metres drilled in 2014 at the Clovis Lake target, Clearwater Project Approximate mineral resource outline, on Eau Claire deposit overview image.

EAU CLAIRE DEPOSIT OVERVIEW: LOOKING WEST 450 West Zone Outcrop on Hilltop OPEN PIT POTENTIAL

Eau Claire Mineral Resource Drilling

99,000 m drilled 2011-2013 0 m drilled 2014-2015 99,000 m drilled since 2011

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2016-2Q2017 PLANNED DRILLING PROGRAM

PLAN VIEW

450 West Zone 850 West Zone

55,700 m EAU CLAIRE DRILLING PROGRAM

FOCUSING ON OPEN PIT AND SHALLOW UNDERGROUND POTENTIAL

2016 TO MID-2017 EXPLORATION BUDGET:

$8.8 million

EAU CLAIRE DRILLING

5 drill rigs

ü expand understanding of the mineralizing controls ü confirm current geological interpretation; test limits of the mineralized envelope ü improve drill spacing (~ 25 m) to show continuity between veins and increase overall confidence in the deposit

2015 Definition drilling intersected multiple high-grade gold intervals laterally and down- plunge of the current Measured & Indicated resource. The deposit is open laterally to the east and down plunge to the southeast and

• southwest. Based
• n SRK June 11,

2015 mineral resource, “Technical Report for the Eau Claire Gold Deposit, Clearwater Project, Quebec”. LONGITUDINAL VIEW (Facing North)

CONCEPTUAL

300 m

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 12

+50% COMPLETE

POSITIVE EAU CLAIRE DRILLING RESULTS

DRILLING IS CONFIRMING AND EXTENDING MINERALIZATION

• ER16-662
• 17.0 g/t Au over 7.1 m, incl. 54.6 g/t Au over 0.7 m (Feb 7, 17)
• ER16-606
• 43.1 g/t Au over 2.0 m, incl. 96.8 g/t Au over 1.0 m (Dec 1, 16)
• ER16-584 - 79.7 g/t Au over 0.5 m (Oct 24, 16)
• 11.5 g/t Au over 13.5 m, incl. 21.3 g/t Au over 5 m
• ER16-608 - 67.7 g/t Au over 2.4 m, incl. 85.1 g/t Au over 1.9 m (Jan 4, 17)
• ER16-621
• 20.2 g/t Au over 1.5 m, incl. 49.1 g/t Au over 0.5 m (Feb 7, 17)
• Infill drilling confirms mineralization as anticipated
• Step-out drilling extends mineralization 100 m east of deposit
• Additional drilling to test upper boundary of Eau Claire eastward extension

DRILLING PROGRAM Reported Results: 19,542 m Total Completed: 34,542 m Total Planned : 55,700 m

M&I: 951,000 oz @ 4.1 g/t Au

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 13 ER16-662 ER16-621 ER16-606 ER16-584 ER16-608

CLEARWATER & LAC CLARKIE TARGETS

7,600 M - DRILL TESTING MULTIPLE TARGETS

2016 - 2017 EXPLORATION PROGRAM

ü District-scale greenstone belt ü Targeting drill-ready open pit potential w/in 15 km of the Eau Claire Deposit ü Potential for Eleonore-style and Eau Claire-style mineralization elsewhere on the property ü Lac Clarkie Phases 1 & 2: geophysics to identify priority drilling targets

Clearwater Property Exploration Drilling (m) Snake Lake (complete) 4,700 Clovis Lake 1,300 Knight 500 Natel 500 Serendipity 300 Beluga 300 Total Clearwater Property Exploration 7,600

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 14 5,790,000N 5,800,000N 480,000E 5,780,000N 460,000E 470,000E 5,790,000N 450,000E 5,800,000N 5,780,000N

Geology

Other Symbols

I

5 2.5

SNAKE LAKE DRILLING RESULTS

DRILLING IDENTIFIES TWO-STYLES OF GOLD MINERALIZATION NEAR EAU CLAIRE

• ER16-592
• 12.2 g/t Au over 1.5 m (Oct 24, 16)
• ER16-604 - 11.3 g/t Au over 1.15 m (Jan 4, 17)
• ER16-596 - 6.38 g/t Au over 1.0 m (Dec 1, 16)
• ER16-626 - 8.86 g/t Au over 0.7 m (Feb 7, 17)
• 800 m long x 200 m wide shallow mineralized corridor
• Two types of mineralization: A sulphide-rich zone and quartz-tourmaline gold mineralization
• Quartz-tourmaline mineralization similar to the Eau Claire deposit, w/in 2km

DRILLING PROGRAM Reported Results: 3,785 m Total Completed: 4,512 m

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 15

ER16-592 ER16-596 ER16-615 ER16-626

EASTMAIN MINE PROJECT

GREAT LOCATION & INFRASTRUCTURE

Otish Park Eastmain Mine Camp looking NW along mine trend to surface targets Route 167 Road, part of Plan Nord Eastmain Mine

All-season road built in 2014 by Quebec gov’t and Stornoway

Stornoway Renard MIne EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 16

EASTMAIN MINE PROJECT

HISTORIC PRODUCTION, HISTORIC RESOURCE, INFRASTRUCTURE IN PLACE

Note 1. The Eastmain Mine (past-producing) Historical Resources is not NI 43-101

• compliant. A

Qualified Person has not done sufficient work to classify them as mineral resources. The issuer is not treating these historical resources as current mineral resources and these resources should not be relied on.

HISTORIC MINING & RESOURCE Mined: 40,000 ozs at 10.58 g/t Au (1995) Resource1: 255,750 oz of 10 g/t Au in 878,000 tonnes $40M invested by previous owners

• n exploration & development

PROPERTY 8,014 hectares Permanent all-weather road,

• nsite airstrip, generator-power

60 person-camp incl. full-kitchen, core shack and cabins James Bay gold district greenstone belt (volcanics) 100% ownership UPCOMING CATALYSTS Exploration program results (1Q 2017) Full assessment of Eastmain past production, historic resources and targets (under review) Planning 2017 program

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 17

Road to Eastmain 60-man camp & infrastructure Onsite Crusher

2016 - EARLY 2017 EXPLORATION BUDGET

$1.5 million

PROGRAM COMPLETE EXPLORATION UPSIDE ü New targets identified, including Julien and Suzanna – follow up underway ü Known mineralization around the historic resource ü Minimal past follow-up on drilling

EASTMAIN MINE PROJECT EXPLORATION SUCCESS

REVITALIZATION AND EXPLORATION OPPORTUNITY 3 strong targets drilled w/in 3 km of the mine: Hillhouse, Suzanna, Julien

• Trenching

– Trenching on 4 targets warrants further drilling, new mineralized structures identified (161212 press release): – Channel J3-6: 45.1 g/t Au, 26.5 g/t Ag and 0.61% Cu over 2.0 m, including 85.5 g/t Au, 48.0 g/t Ag and 1.09% Cu over 1.0 – Channel J3-5: 4.81 g/t Au, 10.3 g/t Ag and 0.44% Cu over 6.5 m, including 13.5 g/t Au, 28.0 g/t Ag and 1.17% Cu over 2.0 – Channel J4-3: 5.04 g/t Au, 8.34 g/t Ag, 0.59% Cu over 2.5 m, including 10.7 g/t Au,13.9 g/t Ag, 1.26% Cu over 0.5 m

• Drilling - 7,450 m completed

– Encouraging results, new Julien Discovery confirmed, results on next slide (170119 press release)

Follow-up IP survey and line cutting (in progress)

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 18

NEW DISCOVERY: JULIEN TARGET Gold, Silver, Copper

EXISTING RESOURCE AND INFRASTRUCTURE

JULIEN DISCOVERY: DRILLING CONFIRMS NEW ZONE

ENCOURAGING SHALLOW GOLD/SILVER/COPPER INTERCEPTS 2.75 KM NW FROM THE EASTMAIN MINE, 0.3 KM NE FROM THE MINE TREND LINE-CUTTING AND IP SURVEY UNDERWAY, MORE DRILLING TO FOLLOW

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 19

DISCOVERY

Julien Trenching Highlights: Channel J3-6: 45.1 g/t Au, 26.5 g/t Ag and 0.61% Cu over 2.0m, including 85.5 g/t Au, 48.0 g/t Ag and 1.09% Cu over 1.0 Channel J3-5: 4.81 g/t Au, 10.3 g/t Ag and 0.44% Cu over 6.5 m, including 13.5 g/t Au, 28.0 g/t Ag and 1.17% Cu over 2.0 Channel J4-3: 5.04 g/t Au, 8.34 g/t Ag, 0.59% Cu over 2.5 m, including 10.7 g/t Au,13.9 g/t Ag, 1.26% Cu over 0.5 m

J3-6 J4-3 J3-5

EM16-76 42.4 g/t Au, 30.2 g/t Ag and 0.53% Cu over 10.5 m

100 m

EM16-76 EM16-92 EM16-93 EM16-94 EM16-95 PLAN VIEW CROSS SECTION

ÉLÉONORE SOUTH JV PROPERTY

INDICATIVE GEOCHEMISTRY – CONTIGUOUS TO ELEONORE MINE

Property size: 147 sq km JOINT VENTURE PARTNERS:

• Eastmain (36.7%)
• Goldcorp (36.7%)
• Azimut (26.6% - Manager: 2016 – 1H2017)

GOLDCORP’S ELEONORE MINE:

• Sedimentary-hosted gold deposit
• >7 M MI&I ounces
• 2017 gold production forecast: 315,000 oz

($985/oz AISC) MONI PROSPECT:

• 3-4 km long x 0.5 km wide corridor
• All 10 drill holes from Phase 1 intercepted

mineralization

• Located within the Prospect Corridor:

Extends from JT Prospect east to Cheechoo discovery, over Moni Prospect (July 2016) FD PROSPECT

• New FD Prospect down trend from Goldcorp’s

Eleonore gold mine, 4.5 km north of JT Prospect (July 2016)

2016-1H2017 Drilling Program

$2 million - JV Budget $0.74 million (Eastmain portion)

Goldcorp’s Eleonore Property Eleonore South JV Property

FD Prospect EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 20

ÉLÉONORE SOUTH JV DRILLING

RESULTS SUPPORT STRONG GEOCHEMICAL SIGNATURE

2016 – early 2017 Drilling Program: Phase 1 - 2,500 m drilling (12 holes) COMPLETE Phase 2 - 2,500 m - to begin Late February/March ALL 10 DRILL HOLES IN THE PROSPECTIVE CORRIDOR ARE MINERALIZED PROSPECTIVE CORRIDOR

3 - 4 km long 0.5 km wide

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 21

THE WAY FORWARD

AGGRESSIVE EXPLORATION: 75,000 meters in 2016-early 2017

3Q16 4Q16 1Q17 2Q17 3Q17

Complete comprehensive drill campaign (63,000m) Updated mineral resource estimate Perform other technical optimization work Optimize and complete PEA and study work

CLEARWATER PROJECT EASTMAIN MINE PROJECT ÉLÉONORE SOUTH JV

Trenching Drilling (7,500m) Drilling (5,000m) Sampling

PRIORITIES (Calendar Year)

2017 Program 2017 Program 2017 Program

4Q17

TODAY

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 22

IP Survey Drilling Historic to NI43-101 mineral resource conversion

FOR MORE INFORMATION

Claude Lemasson P.Eng., MBA President & CEO

lemasson@eastmain.com

Alison Dwoskin CPIR Manager, Investor Relations

dwoskin@eastmain.com

Office: 647-347-3735

www.eastmain.com TSX:ER

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