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Corporate Presentation May 17, 2018 Legal Disclaimer This presentation contains, or incorporates by reference, forward -looking information within the meaning of applicable Canadian securities legislation. Forward-looking information may


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Corporate Presentation

May 17, 2018

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Legal Disclaimer

1 Private & Confidential. This presentation contains, or incorporates by reference, “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, statements with respect to the future performance of Fura Gems Inc. (“Fura” or the “Company”), Fura’s mineral properties, the future price of emeralds, rubies and other gemstones, the estimation of mineral resources and mineral reserves, results of exploration activities and studies, the realization of mineral resource estimates, exploration activities, costs and timing of the development of new deposits, the acquisition of additional mineral resources, the results of future exploration and drilling, costs and timing of future exploration of the mineral projects, requirements for additional capital, management’s skill and knowledge with respect to the exploration and development of mining properties, government regulation of mining operations and exploration operations, timing and receipt of approvals and licences under mineral legislation, the Company’s local partners, and environmental risks and title disputes. In certain cases, forward-looking statements can be identified by the use of words 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 statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Fura to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks associated with the Company’s dependence on the mineral projects; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; risks associated with dependence on key members of management; conclusions of economic evaluations and studies; currency fluctuations; future prices of emeralds, rubies and other gemstones; uncertainty in the estimation of mineral resources, exploration and development risks; infrastructure risks; inflation risks; defects and adverse claims in the title to the projects; accidents, political instability, insurrection or war; labour and employment risks; changes in government regulations and policies, including laws governing development, production, taxes, royalty payments, labour standards and occupational health, safety, toxic substances, resource exploitation and other matters; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; insufficient insurance coverage; the risk that dividends may never be declared; and liquidity and financing risks related to the global economic crisis. Such forward-looking statements are based on a number of material factors and assumptions, including: that contracted parties provide goods and/or services on the agreed timeframes; that on-going contractual negotiations will be successful and progress and/or be completed in a timely manner; that no unusual geological or technical problems occur; that plant and equipment work as anticipated and that there is no material adverse change in the price of emeralds and

  • rubies. Although Fura has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking

statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward looking statements contained herein are made as of the date of this presentation. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. Ricardo A. Valls, M.Sc., P.Geo., of Valls Geoconsultant, Toronto, Ontario, a Qualified Person as defined by National Instrument 43-101, has reviewed the scientific and technical informationdisclosed in this presentation.

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FURA FOCUS

1 Private & Confidential.

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We are building Employee-friendly, Sustainability-driven, Community-centric Enterprise

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Market Opportunity

1 Private & Confidential.

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Target 15% of Colour Gemstone Market

0.5 2.0 4.5 13.0 0.0 15.0

Global Rough Gemstone Sales ($23BN) 2015*

Other Coloured Gemstones 10 20 30 40

De Beers ALROSA Sodium Dominion Rio Tinto Petra Informal Others

Rough Diamonds

Sale: % Value by Producer (source : De Beers ‘The Diamond Insight Report 2017) 23 45 68 90 113 Gemfi fields ds Govt

  • vt. and

nd Inf nfor

  • rmal Sector
  • r

Colour Gemstones

Sector % By Company (source : Gemfields annual accounts for 2016 revenue

Fura Targets

  • 10% of the current market share by year 5
  • 15% of the Enlarged Market by year 10

(Expected market size in year 10: $5bn)

*Source: https://resourcegovernance.org/sites/default/files/documents/governing-the-gemstone_sector-lessons-from-global-experience.pdf

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FURA Management

1 Private & Confidential.

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Developed world’s largest emerald mines in Zambia (value $550MN) & Ruby mine in Mozambique (value $1BN)

Dev Shetty – President and Chief Executive Officer Former COO of Gemfields Plc where he played a significant role in the turnaround of the company and in developing Gemfields' mine and market strategy. Helped develop the world's largest producing Emerald mine in Zambia and the largest ruby deposit in the world through a Greenfield project in Mozambique. Responsible for initiating Gemfields' entry in to the Colombian and Ethiopian emerald Ashim Roy – Vice President, Operations Former General Manager for the Montepuez ruby mine in Mozambique Head of Geology and Exploration at the Kagem emerald mine in Zambia Responsible for developing the greenfield ruby project, Montepuez ruby mine, believed to be one of the largest ruby deposits in the world. Ryan Ptolemy - Chief Financial Officer Experienced CFO for public and private mining sector companies listed on the TSX and TSX venture exchange within the Forbes and Manhattan group. Certified Public Accountant and Certified Financial Analyst charter holder. Tarun Malkani – Business Advisor and Director (India) Formerly held senior management positions in a variety of functional areas with Rio Tinto, Alcan, Eastman Chemicals, Monsanto, Bayer. A decade of experience in metals and mining and was the Chief Operating Officer for Rio Tinto's Bunder diamond project. Chemical engineer with Masters in Business Administration Damien Lopez - Legal Counsel Corporate securities lawyer and legal consultant to various Toronto Stock Exchange and TSX Venture Exchange listed companies within the Forbes and Manhattan group. Juris Doctor from Osgoode Hall Law School, Toronto and a director of the Canadian Hispanic Bar Association Rupak Sen – Vice President, Marketing & Sales Former Acting Global Marketing & Polished Sales Director of Gemfields. Was also the Marketing & Polished Sales Director for Asia. Responsibility included advertising, PR, research, sponsorships, education & training and co marketing Prior to Gemfields worked with De Beers and The Swatch group Over 20 years experience in the jewellery and watch industry

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SLIDE 6

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Mozambican Rubies

Ruby licenses announced (4)

FURA Gems Inc has acquired mines in

Colombia: World’s largest supplier of Emeralds by value (50%) Mozambique: World’s largest supplier of Rubies by volume (60%)

FURA Gems Inc

Colombian Emeralds Mozambique Metric Colombia Montepuez District Location Boyaca Department Open Pit Mine Type Underground Ruby & Corundum Product Emerald 394.24 sq.km Area 47 Hectares 14 Grade (CPT) 1.5 Producing within 12 months Production Timeframe Production Ramp Up within 12 Months $25M (2YR) Capex/Opex $20M $0.3M Acquisition Cost $10M

Operating Mine (1)

Fura Assets Portfolio

Achieved within 12 months of inception

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SLIDE 7

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Coscuez

La Pita Cunas Totumos Espanola

Furatena Formation Capotes Formation

Muzo Quipama La Victoria Polveros

Location

  • Boyaca region, Colombia
  • 245km from capital city of Bogota
  • Western corridor (on Muzo formation)

Brief History

  • In existence since 1646
  • Produced some of world famous emeralds

Guinness emerald with 1759 carats

  • Mined and developed traditionally
  • Lacking investment in geology, infrastructure and

had no long term plans Fura Acquisition

  • Date of Acquisition

22 January 2018

  • Ownership

76% Fura 24% Local partners (free carry, non-dilutive

  • Consideration

US$ 10MN (US$ 2.5MN paid, balance payable

  • ver 3 yrs.)
  • Estimated

development cost US$ 25MN (over 2 yrs.)

Coscuez Colombian Emerald Mine

Located in known emerald corridor

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Muzo formation Itoco Tunnel Capotes formation Muzo formation Itoco Tunnel Capotes formation

Coscuez Mine Geology

An Iconic Emerald Deposit – First listed company in Worlds largest emerald producing country

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Intense calcite veins bearing emerald Breccia zone with intense calcite veins & pyrites Crumbled breccia zone with banded shale Extensive carbonate veins & alteration in shale

Emerald Mineralisation within Ore Zone

Mineralised Area identified for Bulk Sampling

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SLIDE 10

8 Private & Confidential.

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Mon

  • nth

Sample le Washed (Ton

  • ns)

Prod

  • duc

uctio ion n (C (Carats) Grade de Janu nuary 40.2 1,255 31.2 31.2 Fe Febr brua uary 68.4 224 224 16.7 16.7 March 62.3 21 21 8.8 April il 61.0 110 110 6.9 Total 231.8 1,609 6.9

▪ Main purpose is to collect most representative samples from the orebody at different working levels ▪ Data collected will be used to define the grade (carat per ton) and devise detailed mine plan ▪ Target to collect and wash 30,000 tons by 31 December 2018 ▪ 50 tph wash plant to be commissioned by Q3 2018 ▪ WGM appointed for 43-101 compliant resource and reserves report (Q4 2018) ▪ Mining – One Australia working on scoping study (Q2 2018) ▪ Total bulk sampling cost US$ 7.5MN

Coscuez Bulk Sampling

Target of 30,000 tonnes by year ended 2018

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▪ Diamond core drilling to start from May 2018. ▪ Two phase drilling program to be used to define ore body ▪ Phase I: 200 x 300 meter thick orebody (defined through survey) to be delineated and confirmed on /before 31 December 2018 ▪ Phase II: Depth up to 800 meter to be delineated from January 2019 ▪ Total core drilling cost US$1MN

Core Drilling Program

Phase 1 : 2,500 metre of diamond core drilling by December 2018

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BEFORE BEFORE

AFTER – Mine Entrance Revamped AFTER – Start of the day Briefing AFTER – Safety Training AFTER – Employment Formalisation

Mine safety and training

Extensive training program on Health and Safety completed

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▪ Multiple security units consists

  • f internal teams, contractors,

Colombia army and police ▪ ALFEREZ and MIRO, renowned security agencies deployed. ▪ 48 CCTV cameras are being installed. ▪ Communication radio equipment ordered ▪ Barriers, electric fences and hunter cameras ordered

Security and Risk management plan

Three tier security to be implemented by June 2018

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Procurement

  • Confections Women Association support
  • Local mine inputs procurement: core drill

boxes, roof bolts Economic alternatives

  • Bakery training and association for women
  • Construction and remodeling of infrastructure

Education

  • English lessons for 150 community members

Culture, recreation and sports

  • Soccer center for 300 child and youth

Short term Medium Term

Economic alternatives

  • Designation of origin – confections, jewelry, agriculture

Education

  • Scholarships
  • Skill development Center

Health

  • Local health center support

Culture, recreation and sports

  • Musical band - area of influence
  • Emerald museum support and promotion

Economic alternatives

  • Tourism – Quinchas
  • Agriculture: cocoa, coffee, guava and sugar

cane Education

  • Local University lessons support

Infrastructure

  • Sanitation improvement support

Long term

Community Social Responsibility Plan

CSR program to be launched by May 2018

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ÄRE Emerald

A rare and exceptional 25.97 carat rough emerald

Coscuez Colombian emerald initial production

Significant progress on Emerald recovery within one week of acquisition

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  • Montepuez District, Mozambique
  • In Mozambique’s ruby producing zone

Fura Acquisition

  • Date of

Acquisition 19 October 2017

  • Ownership

80% Fura 20% Local partners (free carry, non-dilutive

  • Consideration

US$ 0.3K

  • Estimated

development cost US$ 20MN

Mozambican Ruby Project

Located in proven geological environment

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Classi sification: Red gem variety of Corundum (AL2O3) Uni nique uefeatures: Hardness: 9 on mohs scale (diamond 10) Rarity: Large transparent rubies even rare than diamonds of same size and comparable quality Formation

  • n:

A corundum is formed when solutions rich in Alumina (AL2O3) intrudes a host rock rich in chromium (Cr),iron (Fe) and vanadium (V) Chromium is the colour agent and the amount of chromium present determines how intense the red is Primary deposits mining involves mining rubies from the host rocks (amphibolite) where they are formed. Secondary deposits are made up of gem crystals separated from host rocks. These are classified by the way they been transported (e.g.. deposits carried by river are called placers/alluvial) or the place of deposit.

Primary ruby mineralization

High quality Low volume carat/ton)

Low quality High volume carat/ton)

Ruby Geology

Primary amphibolite and Secondary Gravel key focus

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Regional Map on SRTM Digital Elevation Model Borehole intersected with primary and secondary mineralization

Non – core Auger drilling Program initiated in November 17

Phase 1 : 2,500 meters of drilling completed

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P-1 P-2 P-3

Proposed Drilling Programme Priority No of BHs Approximate Meterage P-1 102 816 P-2 209 1,672 P-3 135 1,080 446 3,568

Next Phase of Drilling Program launched in May 2018

Phase 2 : Drilling program commenced in license 3868

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B-1 B-2 B-3

Proposed Bulk Sampling Blocks (3) followed by close spaced infilling drilling Programme of 100m X 100m staggered grid.

Bulk Sampling areas identified

Phase 1 Bulk Sampling to commence from July 2018

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Quick Camp Set-up Monitoring of Exploration with Expert Geologists Quick mobilization of Rig Quick mobilization of Bushman Jig Sorting and Quality Gemology Report

Mozambican Infrastructure set-up

Infrastructure Facility for Bulk Sampling

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Mozambique rubies findings

Near surface ruby occurrences

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INVESTOR INFORMATION

1 Private & Confidential.

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Ticker Symbol: (TSXV: FURA, OTC: FUGMF and FRA: BJ43)

Investor

  • No. of

shares (MN) Holding (%) Aberdeen International Inc (F&M) 13.30 14.06 Fura Management 8.62 9.15 Wanhe Investments Ltd. 5.73 6.06 Greenway International Investments Ltd 5.35 5.66 Orleans Investments 1.67 1.76

Top 5 Fura Shareholders

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Key Takeaways

  • Mozambique production target of 2million carats in 2018 to 6million carats in 2020
  • Colombia production target of 20,000 carats to 200,000 carats in 2020
  • Revenues for Mozambique and Colombia from Q1 2019 and Q2 2019 respectively
  • Cash flow positive by year ended 2020
  • The current cash balance will be utilised to complete the exploration program for Mozambique and Colombia
  • The next phase of funding will help Colombia to be 43-101 compliant (Q4 2018) and Mozambique to reach the

full capacity for bulk sampling

  • Large scale underground mine in Colombia to operational from Q2 2019
  • Large scale open-pit operational in Mozambique from Q2 2019
  • Marketing initiatives to be launched by Q3 2018 :
  • Educate the consumers on Colombian emeralds and Mozambican rubies
  • Prove Chain of custody for the product including implementing block chain model
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CONTACT DCONTACT INFORMATION Dev Shetty President and Chief Executive Officer dev.shetty@furagems.com +971- 50 187 2487 Dubai Fura Services DMCC, 26J Almas Tower, Jumeirah Lake Towers, Dubai, UAE Canada Fura Gems Inc, 65 Queen Street West, Unit 800, Toronto, Ontario - M5H 2M5, Canada www.furagems.com

THANK YOU FOR YOUR TIME