C ORPORATE P RESENTATION Atacama Copper Property (TSX.V:AN) February 2019
Cautionary Notes This Presentation contains ‘‘forward -looking information’’ or “forward looking statements” which may include, but is not limited to, statements with respect to the future financial or operating performance of Arena Minerals Inc. and its subsidiaries (collectively, the ‘‘Company’’) and its mineral projects; the future prices of metals; the anticipated results of exploration activities; the estimation of mineral resources; the ability to enter into additional joint venture agreements; the ability of the joint venture partners to complete the work program; the realization of mineral resource estimates; capital, development, operating and exploration expenditures; costs and timing of the development of the Company’s mineral properties; timing of future exploration; requirements for additional capital; government regulation of mining operations; anticipated results of economic and technical studies; environmental matters; reclamation expenses; title disputes or claims; limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Often, but not always, forward-looking information can be identified by the use of words and phrases such as ‘‘plans’’, ‘‘expects’’, ‘‘is expected’’, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, ‘‘forecasts’’, ‘‘intends’’, ‘‘anticipates’’, or ‘‘believes’’ or variations (including negative variations) of such words and phrases, or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will’’ be taken, occur or be achieved. Forward-looking information is based on the opinions and estimates of management as of the date such statements are made and is based on information currently available to management and upon what management believes to be reasonable assumptions, including, among others, that general business, economic, competitive, political and social uncertainties remain favorable; that actual results of exploration activities justify further studies and development of the Company’s mineral projects; that the future prices of metals, and copper and gold in particular, remain at levels that justify the exploration and future development, exploration and operation of the Company’s mineral projects; that there is no failure of plant, equipment, processes, exploration machinery to operate as anticipated; that accidents, labour disputes and other risks of the mining industry do not occur; that the jurisdictions in which the Company operates remain politically stable; that there are no unanticipated delays in obtaining governmental approvals or financing or in the completion of future studies, development or construction activities; that the actual costs of exploration, and studies remain within budgeted amounts; that regulatory and legal requirements required for exploration or development activities do not change in any adverse manner, as well as those factors discussed in the section entitled ‘‘Risk Factors’’ as may be identified in the Company’s public disclosure from time to time, as filed under the Company’s profile on SEDAR at www.sedar.com. Forward-looking information involves known and unknown risks, uncertainties 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 such forward-looking information. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking information, there may be other factors that cause such actions, events or results to differ from those anticipated, estimated or intended. Any inaccuracy in the assumptions identified above may also cause actual actions, events or results to differ materially from those described in the forward-looking information. Forward-looking information contained herein is made as of the date of this Presentation and the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, potential investors should not place undue reliance on forward- looking information. This Presentation does not constitute an offer to sell, or solicitation of an offer to buy, any securities by any person in any jurisdiction in which it is unlawful for such person to make such an offering or solicitation. No representation or warranty, express or implied, is made as to the accuracy or completeness of the information set out herein, and nothing contained herein is, or shall be relied upon, as a promise or representation, whether as to the past or future. The technical and scientific aspects of this Presentation have been reviewed and approved by Mr. Vernon Arseneau, P.Geo, who has been designated as a qualified person pursuant to NI 43-101. As the Vice President of Exploration of the Company, Mr. Arseneau is not considered independent. 2
Arena Minerals: Chile Peru Projects located near Antofagasta, Chile – a pro mining jurisdiction with • Bolivia infrastructure and world class operating mines - Lomas Bayas, Mantos Blancos, Spence, Sierra Gorda, Tesoro, El Peñon Agreement earned an 80% interest in the Atacama Copper Property, • consisting of 6,910 hectares in world’s foremost copper district Arena’s land package has been held by single owner with focus on • industrial minerals for over 70 years, with claims dating back to 1876 Argentina 2 Cu porphyry and one Au-Ag epithermal prospects discovered by Arena • during early stage prospecting are currently available for option/joint venture 3
Prospect Generator Model Significantly reduces Arena’s ongoing • commitments Arena retains material interest without • incurring further costs Minimizes dilution to Arena shareholders • Significant increase in spending coupled • with more aggressive timelines, including drilling, to create earlier value driving catalysts JVs allow more prospects to be drilled in a • shorter timeframe, resulting in a more aggressive and thorough exploration program 4
Two properties (AN 80%, SQM 20%) Arena (Pampa Paciencia) available ground 2,140 Ha Spence Gold epithermal vein system Sierra El Tesoro Gorda Esperanza Arena (Pampa Union) available ground 4,770 Ha 2 Cu porphyry prospects Lomas Mantos Bayas Blancos Over US$8 million spent in exploration on both properties combined 5
Pampa Union Property Work Program at Pampa Union • Pampa – 29,482 metres drilled (RC and Paciencia DDH) – Grid drilled property on minimum 3km spacing with infill at 1.5 km spacing follow- up completed – Vector IP , Ground Magnetics and Passive Seismic surveys completed PU-RC-94 PU-RC-39/80 Discovery of two porphyry Pampa • systems: Union – PU-RC-39/80 & 94 area on the Pampa Union claim block Project fully permitted to • continue drilling 6 See Cautionary Notes
Pampa Union Targets • Two high quality porphyry targets discovered with advanced argillic/phyllic alteration signatures, hydrothermal brecciation, and anomalous geochemical signatures including values up to 0.2% copper in drill core • Targets are approximately 2 km by 500 m in size, lying under less than 100 metres of ground cover • Minimal additional drilling required to fully test the identified targets 7
Pampa Paciencia Property Property covers 2,140 hectares • with access to paved highway, rail, power and water Samples as high as 93 g/t Au • (surface), and up to 28 g/t Au in drill core All sections remain open at depth • and on strike, with only a small fraction of the known strike length and overall property tested by drilling PP15-006 Core Photo 8
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