Buchans Resources March 2 0 1 8 w w w .BuchansResources.com 1 - PowerPoint PPT Presentation

Buchans Resources March 2 0 1 8 w w w .BuchansResources.com 1

Buchans Resources Forw ard Looking Statem ents Information set forth in this presentation (the “Presentation Materials”) is provided by Buchans Resources Limited (the “Company”) and may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend“; statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms and completion of the transaction with Buchans and Canadian Zinc, the planned financing and the potential of the properties, including the details of the Lundberg PEA are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; requirement to obtain shareholder approval; failure to execute definitive agreements fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and management undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements. 2

Buchans Resources Buchans Resources Lim ited Advanced Exploration & Developm ent Projects in Central New foundland • Buchans Resources holds ~ 200 km 2 land package with NI 43-101 compliant deposits • Lundberg Deposit • Bobbys Pond Deposit • Daniels Pond Deposit • Properties host many early and advanced-stage exploration targets • Central Newfoundland deposits host almost 2 billion lbs. Zn, almost 700 million lbs. of Pb and over 300 million lbs. Cu • Collaborative agreement with Canadian Zinc Corporation to examine the viability of developing both companies’ key deposits through a central m illing facility • Positive results from metallurgical research program, funded in part by Newfoundland Government • Canadian Zinc holds ~ 450 km 2 land package in a proven, yet underexplored, mining district • Land package includes three main projects with high grade Zn-Cu-Pb-Au-Ag NI 43-101 compliant deposits • South Tally Pond ( Lem archant deposit) • Tulks South ( Boom erang-Dom ino deposit) • Long Lake ( Long Lake m ain Zone deposit) 3

Buchans Resources Buchans Resources New foundland’s Geological Potential 4

Buchans Resources Historical Production from Canada’s First Mineral District in Central New foundland Buchans Mine Operator: ASARCO 1927 to 1984 Production: 16.2 million tonnes averaging 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/ t Au, 126 g/ t Ag from five separate deposits (Lucky Strike ,Old Buchans, Oriental, Rothermere, and MacLeans) Duck Pond Mine Operator: Teck Resources 2007 to 2015 Production: 5.4 million tonnes averaging 5.8% Zn, 0.9% Pb, 3.3% Cu, 0.86 g/ t Au, 59 g/ t Ag 5

Buchans Resources New foundland Advanced Exploration/ Developm ent Projects 1,901 Central Newfoundland deposits collectively host 2,000 almost 2 billion pounds of 1,800 Zn, almost 700 million pounds Pb and over 300 1,600 million pounds Cu. 1,400 1,049 Millions Buchans’ Lundberg 1,200 deposit hosts half the 677 district’s Cu and Pb and 851 1,000 almost as much zinc as all the other deposits 800 329 combined. 316 600 361 400 122 District Total 200 207 VLSG (all 43-101) 0 Lundberg Zn (lbs) Pb (lbs) Cu (lbs) 6

Buchans Resources Buchans Mine Past production - 16.2 million tonnes @ 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au, 126 g/t Ag Duck Pond Mine Past production - 5 .4 m illion tonnes @ 5 .8 % Zn, 0 .9 % Pb, 3 .3 % Cu, 0 .8 6 g/ t Au, 5 9 g/ t Ag 7

Buchans Resources Lundberg Project 2 0 1 1 PEA Highlights 1 • PEA-stage development project located near the former producing Buchans Mine Type • Open pit Mine Life • 10 years Mine LOM Ore Mined • 17.3 million tonnes • The Buchans area properties contain Strip Ratio (waste:ore) • 3.06 to 1 512 contiguous claims totaling 134 km 2 Throughput • 5,000 tonnes per day Average Annual Production • Lundberg deposit is a stockwork-type Zinc (M lbs) • 27.1 VMS deposit containing zinc, copper, Lead (M lbs) • 5.5 lead and silver Copper (M lbs) • 16.3 • There are several other prospects Silver (oz) • 48,000 including Clementine West and Buchans North • Altius Minerals, Adventus Zinc and Resource Estimate for the Lundberg Project (February 2013) 2 Canstar Resources recently announced Category Tonnes Grade a consolidation of their newfoundland Zn (%) Pb (%) Cu (%) Ag (g/t) Au (g/t) zinc exploration projects, focused on Indicated 23,440,000 1.41 0.60 0.35 5.31 0.07 the buchans camp Inferred 4,310,000 1.29 0.54 0.27 4.47 0.08 1. Cut-off grade of $15 NSR 2. 4.93 million tonnes of in-situ inferred resources were excluded from the open pit mine design and may be included in future economic evaluations 8 Open pit at Buchans Mine

Buchans Resources Lundberg Project VMS Stockw ork Deposit Surrounding Lucky Strike Deposit, Buchans Mine Lucky Strike (massive sulphides): Production 1928-1958 and 1972-1979 High grade deposit of 5.6 M tonnes averaging 18.4% Zn, 8.6% Pb, 1.6% Cu, 112 g/t Ag & 1.7 g/t Au 9

Buchans Resources Lundberg Project Bulk Tonnage Resource 1 0

Buchans Resources Bobbys Pond and Daniels Pond Bobbys Pond Deposit • Deposit has vertical orientation, favourable metallurgical characteristics and high grade mineralization which comes to surface • Thick intervals of low grade copper stringer mineralization indicate that the mineralized system continues at depth • Potential for very high grade stopes with numerous composite assays greater than 12% Zn • Good recoveries and concentrate grades in preliminary metallurgical study • 80% Cu recoveries with 23% concentrate • 80% Zn recoveries with 57% concentrate Daniels Pond Deposit • High-grade VMS base metal deposit exposed at surface • Located within the highly prospective Tulks North Property, in the same mineral belt as the Boomerang deposit • 83 drill holes totaling 15,411 m were completed in 2007 and 2008 Resource Estim ate for Bobbys Pond 1 Resource Estim ate for Daniels Pond 1 Category Tonnes Grade Category Tonnes Grade Zn (%) Pb (%) Cu (%) Ag (g/t) Au (g/t) Zn (%) Pb (%) Cu (%) Ag (g/t) Au (g/t) Indicated 1,095,000 4.61 0.44 0.86 16.6 0.2 Indicated 1,162,000 4.44 2.12 0.31 87.79 0.60 Inferred 445,000 3.88 1.74 0.27 81.63 0.52 Inferred 1,177,000 3.75 0.27 0.95 10.95 0.06 1. See Technical Report filed on Minco plc’s company profile at www.sedar.com 1 1

Buchans Resources Daniels Pond Deposit 1 2

Buchans Resources Canadian Zinc and Buchans Resources Mineral Collaboration • Canadian Zinc and Buchans Resources agreement to share research data on their central Newfoundland VMS deposits • Research program funded in part by government agency, Research Development Corporation of Newfoundland and Labrador, to determine technical and economic viability of developing deposits using a central milling facility • Five deposits: Lundberg, Lem archant, Boom erang-Dom ino, Bobbys Pond and Daniels Pond 1 3

Buchans Resources Metallurgical Research Program Research Program Funded by Research Developm ent Corporation ( RDC) of New foundland and Labrador • Research program dem onstrated that ore from all five deposits can be processed using a sequential flow sheet in a central m illing facility Results of Research Program March 2 0 1 7 : • Sequential flowsheet provides better grades and recoveries for Cu, Pb and Zn concentrates compared with bulk flotation flowsheet. • Test results and simulations confirm sequential flow sheet yields selective Zn, Pb and Cu concentrates at m arketable grades • Lundberg enhances viability of central milling facility and future development of region's mineral resources 1 4