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DEVEL ELOPI PING NG A LARGE GE SCALE ALE ILME MENITE NITE DEPOSIT SIT IN GREENL ENLAND AND TZMI CONFERENCE NOVEMBER 2017 DISCLAIM AIMER ER This presentation (Presentation), and the information contained herein, is not for


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DEVEL ELOPI PING NG A LARGE GE SCALE ALE ILME MENITE NITE DEPOSIT SIT IN GREENL ENLAND AND TZMI CONFERENCE NOVEMBER 2017

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DISCLAIM AIMER ER

This presentation (“Presentation”), and the information contained herein, is not for viewing, release, distribution or publication into or in the United States or any other jurisdiction where applicable laws prohibit its release, distribution or publication. This Presentation is being issued by BlueJay Mining PLC (the "Company” or “BlueJay”) for information purposes only. The content of this Presentation has not been approved by an authorised person for the purposes of Section 21(2)(b) of the Financial Services and Markets Act 2000. Reliance on this Presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all

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  • 1993. You should not therefore deal in any way in the securities of the Company until after the formal release of an announcement by the Company as to do so may result in civil and/or criminal liability. Issued by BlueJay

Mining PLC, a company incorporated in the England and Wales under number 07245568. The information in this presentation that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Roderick McIllree, who is Chief executive of the Company and a Member of The Australasian Institute of Mining and Metallurgy. Mr McIllree has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves‘.

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GREENL ENLAND, AND, THE MISUNDERS DERSTOO OOD ISLAND ND

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➢ TOO HARD? RD? ➢ TOO COLD? D? ➢ TOO ISOLA OLATE TED? ? ? ? ? ? ? ? ?

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ISN'T GREEN ENLAND LAND UNINHAB HABIT ITAB ABLE…?

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I A ALWAYS THOUGHT GHT THERE RE IS NOTHI HING NG BUT IC ICE..

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LOGIS ISTICAL ICALLY Y IT MUST BE NEAR R IMPOSS SSIBL BLE.. E..

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WHAT IF THE WORLDS MOST PROSPECTIVE COUNTRY ISN’T AS HARD AS YOU MIGH GHT T IMAGI GINE?

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TOWN WN OF QA F QAANAA NAAQ, Q, POPULATION ION OF F ±660 60

7

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MAYBE IT’S TIME TO TO THINK AGAIN?

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2017

GREENLAND IS APPROXIMATELY 20% LARGER BY AREA THAN WESTERN AUSTRALIA…

2016 was a record year for ice melt

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SLIDE 10

GREENL ENLAND: AND: SUPPOR ORTI TIVE VE OF MI F MINING G DEVEL ELOPM OPMENT ENT

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A prolific area of mineralisation capable of hosting multiple major ilmenite operations Supportive government focussed on developing a resource based economy Bluejay granted first marine exploration licence for minerals by Greenlandic authorities Exploitation possible due to profound climatic changes in Arctic Established infrastructure to support low cost development Transparent Minerals Act and firm rule of law combining to provide a low sovereign risk jurisdiction

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SLIDE 11

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DUNDAS TITANIUM PROJECT

PROJECTED JECTED TO BECO COME A LARGE GE SIZE E / LONG G LIFE / LOW COST T DEPOSI OSIT

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WH WHAT IF TH F THIS IS THE WORLDS LDS LARGES GEST T TITANIUM NIUM PROVINCE VINCE

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Geological survey of Denmark and Greenland (GEUS) conducted a regional analysis of the titanium rich basalts and sediments at Dundas during 2017

Total ilmenite deposited at Moriusaq derived from sills and dykes north of Moriusaq is estimated at between 500 to 1100 million tons.

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GEOLOG OGY Y AND LICENCE CE AREA

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▪ Includes the initial production zone with a high-grade resource of 7.9Mt at 14.2% ilmenite ▪ This drowned beach target is the focus of feasibility study currently underway

MORIUSA IUSAQ BAY

▪ Extremely large tonnage potential at a grade of ±15% ilmenite ▪ Deltaic deposits from the Intelak drainage area are the major source of all mineralisation at Pituffik

INTE TELAK LAK DEL ELTA

The e deposit

  • sit covers

s three ee types es of terrain: ain: ▪ Raised ised beac eaches hes: contain ilmenite accumulations of unknown depths, along more than 20km of coastline ▪ Ac Activ tive e beac eaches hes: refers to the area seaward of the frontal dunes, including the beach, tidal zones and surf zone ▪ Drowned ed beac eaches hes: : refers to the areas seaward of active beaches.

P i t u f f i k i s l o c a t e d 4 0 k m s o u t h - w e s t o f Q a a n a a q , G r e e n l a n d

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DRILLING LING TO DATE

SONIC C DRILLING ING

  • 138 holes completed August 2017 using sonic drilling
  • Ilmenite rich sediment observed in all samples confirming

mineralisation across entire onshore 30km licence

  • Areas of the raised beach remain open at depth

AUGER DRILLING NG

  • Auger drilling completed at:
  • Iterlak, the largest target on the licence area
  • A recently discovered super high-grade deposit to the east of

Iterlak where initial sampling shows that extensive areas of up to 80% ilmenite in-situ exists in large quantities

  • High grade ilmenite observed in all 130 holes to date with

some holes returning exceptional high-grade results from top to bottom

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TARGET To increase and expand current resource and validate the significant tonnage potential. Auger program completed at Iterlak and additional 15km of raised beach to the east

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SLIDE 15

RESOU OURCE CE

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Class assif ifica icatio ion Volum lume e (M.m3) Ton

  • nnage

age (M.t) Densit sity (t/m3) % % THM % % >2mm mm % % >5mm mm % % <63µm % T TiO2 In HM % T TiO2 In In-sit itu % % Ilmen menit ite e In- situ Inferred 11.2 23.6 2.12 34.5 29.0 21.8 2.5 12.0 4.2 8.8

HIGHLIGHTS THAT PITUFFIK IS POTENTIALLY CAPABLE OF SUPPORTING AN OPERATION OF CONSIDERABLE MINE LIFE AS WELL AS HAVING EXTENSIVE EXPLORATION POTENTIAL

▪ Independently proven to be the highest-grade mineral sand ilmenite project globally ▪ Includes a high-grade zone of 7.9Mt Mt at at 14 14.2% ilmeni enite (in situ) at Moriusaq, which is the focus of the feasibility and production studies currently underway ▪ Resource sits within a larger exploration target of between 90 90Mt Mt to to 130Mt Mt at at an an in in-situ situ grade de of

  • f between

en 6.3% and 8.4% ilmeni nite ▪ Resour esource an and exp xplor

  • rat

ation

  • n targ

arget defined efined fr from

  • m just

ust 17 17% of

  • f

the the rai aised sed beach ach envi vironm

  • nment

ent wi with thin the the Mori

  • riusaq

usaq targ arget area

Extensive raised beach area

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BATHYM YMETR ETRY Y SURVEY EY – COMPLET LETE E

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  • Covered an area of ±90km2
  • Detailed regional off-shore survey

identified and surveyed, and according to Danish Maritime Law, bulk carrier capable shipping channels and fixed- point moorage locations all identified along the Pituffik coastline

  • Survey results demonstrate potential for

bulk carrier access to near shore areas as well as the ability to emplace ship loading facilities

  • Results will feed into the feasibility

assessment and trade off studies in preparation for lodging the exploitation application

TARGET To enable a robust assessment of shipping options

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SLIDE 17

ILME MENITE ITE IS HOMO MOGEN GENOUS OUS AN AND LOW IN DELETER TERIOUS OUS ELEME MENTS TS

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THE ILMENIT ITE E IS A CONSISTENT ENT GRAIN IN SIZE ZE

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RADIONUCL IONUCLIDES IDES ARE <10PPM 0PPM DETECTION TION LIMITS

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EXPANSI NSIVE VE TITANIUM IUM DEPOSI OSIT

FIVE DISTINCT INCT PLACER DEPOSIT SITS S OF PRIMARY Y ILMENITE ITE IDENTIFIED: IFIED: 1. RAISED BEACH - ilmenite accumulations over widths of >1m along >30km of coastline (average grades to-date of ±20% ilmenite and >50% in some areas) 2. ACTIVE BEACHES - 50m either side of mid tide line, >30km long and >1m deep (average grades to-date of >50% ilmenite) 3. DROWNED BEACHES – large volume ilmenite bearing sediments located in <10m of water expected to be very high grade ilmenite 4. MORIUSAQ BAY - a low-medium tonnage area with average grades of ±50% ilmenite (up to 90% in areas) 5. ITERLAK DELTA - deltaic deposits from the Intelak drainage area, these are the primary source all sediments at Pituffik. Extremely large tonnage potential at a grade of >15% ilmenite.

19 M o r i usa q B ay

I t e r l a k D e l t a

More than 30km long, 1-3km in width, and in places more than 30m thick

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IS INTERLAK RLAK A BILLION ON TONNE TARGET? GET? TIME WI WILL TELL..

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EARLY Y SIGNS S ARE E PO POSITIVE.

  • ITIVE. AUG

UGER ER SAMPLE PLE FR FROM ITERLAK LAK

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MINE PLAN – OPTION ION 1

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Raised and Active Beach mining using scrapers or excavator/trucks.

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MINE PLAN – OPTION ION 2

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Dredging within Tombolo and dozer pushing down to dredge and/or off shore dredging near Iterlak delta.

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PROCES CESS S FL FLOWS WSHEE HEET – STAGE E 1

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PROCES CESS S FL FLOWS WSHEE HEET - STAGE E 2

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PROCES CESS S FL FLOWS WSHEE HEET - STAGE E 3

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N/M

NON-MAGNETIC MINERAL ROTARY DRYER FEED BIN PREMIUM ILMENITE MAGNETIC MINERAL RARE EARTH MAGNETS

M1 M2 M2

HORIZONTAL FILTER BELT

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PROJEC JECTED TED PRODUC DUCT T SPECIFICA IFICATION TION

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BluJ J – STAND ANDARD ARD ILMENITE ENITE E

An ilmeni nite e ore suita table e as a preferential erential feed: d:

  • for

r dire rect ct use in the producti ction n of TiO2 pigme ment nt by the sulphat hate e process ess; or

  • to produce

ce high qua qualit ity y titan anium um sulphat hate e slag ✓ Homogeneous and consistent grade

concentrate

✓ Readily soluble in sulphuric acid at high

process efficiency

✓ High FeO and low Fe2O3 content ✓ Low alkali content, compared to rock

ilmenite ores used for smelting

✓ Low key impurities such as Cr2O3 ✓ Low radioactivity

Composition Range Typical

TiO2 % 45-47 46.2 FeO % >38 39.5 Fe2O3 % 10-12 10.1 Fe (total) % 54-55 54.0 Al2O3 % <0.2 0.17 SiO2 % 1.0-1.5 1.30 Cr2O3 % 0.05 0.05 ZrO2 % 0.12 0.12 CaO % <0.4 0.34 MgO % <1.0 0.90 MnO % 0.50-0.57 0.56 Nb2O5 % 0.02 0.02 P2O5 % <0.02 0.01 V2O5 % <0.40 0.36 U ppm <10 <10 Th ppm <10 <10

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PROJEC JECTED TED PRODUC DUCT T SPECIFICA IFICATION TION

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BluJ uJ - PREMIUM MIUM ILMENITE ENITE E

A premium ium ilmeni nite e ore suita table le as a preferentia rential feed:

  • for direct

ct use in the produc uction tion of TiO2 pigment ent by the sulphat hate e process ess; and

  • to produc

uce e a high qua uality ity sulphat hate e or chlorid ride e tita taniu nium m slag

✓ Homogeneous and consistent grade

ilmenite ore

✓ Readily soluble in sulphuric acid at high

process efficiency

✓ High FeO and low Fe2O3 content ✓ Low alkali content, in particular low

MgO suitable for chloride slag production

✓ Low key impurities such as Cr2O3 ✓ Low radioactivity

Composition Range Typical

TiO2 % 45-47 46.5 FeO % >38 39.2 Fe2O3 % 10-12 11.4 Fe (total) % 54-56 55.0 Al2O3 % <0.2 0.09 SiO2 % <1.0 0.71 Cr2O3 % 0.06 0.06 ZrO2 % 0.12 0.12 CaO % <0.2 0.15 MgO % <1.0 0.78 MnO % 0.50-0.57 0.52 Nb2O5 % 0.03 0.03 P2O5 % <0.01 0.002 V2O5 % <0.40 0.35 U ppm <10 <10 Th ppm <10 <10

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TIMELINE INE TO DEVEL ELOPM OPMENT ENT

Jan-16 Jul-16 Dec-16 Jul-17 Dec-17 Jul-18 Dec-18 Jul-19

Grow resource New legislative changes to licence terms EIA, SIA Year One Baseline Sighter metallurgical work EIA, SIA Year Two Baseline 2017 Field Season - Resource Definition Metallurgical bulk sample Comnmercial bulk sample EIA, SIA TOR completed Produce sample concentrate for marketing Initial resource upgrade SRK Final Resource upgrade Offtakes and marketing Start / end of Feasibility EIA SIA studies Process design and shipping solutions Stakeholder Meetings Greenland Submission and approval of exploitation license Site works begin Construction starts/ends Prepare and execute ramp up to 325,000t ilmenite Increase to 500Kt Ilmenite P/A increase to 1Mt Ilmenite P/A

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INVESTME MENT NT CASE

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  • Advancing the highest-grade in-situ deposit of ilmenite in the world into

production in 2019

Near term production

  • Uniquely pure and high grade homogenous mineralisation is expected to

be highly sought after by end users / customers

Competitive advantage

  • Potential to be in the lowest quartile production costs - simple, low-cost

production model and strategic Greenlandic location positively impacts CAPEX and OPEX

Low cost

  • Low sovereign risk, supportive government and located close to both

European and American markets

Strategic location

  • Market has entered into a supply deficit period with a lack of significant

supply projects

Favourable pricing environment

  • Significant additional upside available from wider development portfolio

in Greenland and Finland

Additional upside

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BlueJa Jay y Mini ning ng plc www.titanium.gl

Rod d McIllre Illree Managing Director Tel: +44 (0) 20 7907 9326 rod@bluejaymining.com

St Brides des Par Partne ners Ltd – Fina nanci ncial PR

Char arlo lott tte e Page Tel: +44 (0) 20 7236 1177 charlotte@stbridespartners.co.uk

CONTACT T US

Market t Ad Advisor sors

Pe Peter er M. Waugh gh petermwaugh@gmail.com

  • : +44 1740 645665

m: +44 7889 123373 Bruno

  • A. Cavalanc

valancia ia

  • : +65 6829 7121

m: +65 9798 0324 bruno@titaniumindustryadvisory.com