| February 2020 | bluethundermining.com |
Forward Looking Statements This document contains forward- looking statements that reflect the company’s current expectations regarding future events. To the extent that any statements in this document contain information that is not historical, the statements are essentially forward-looking and are often identified by works such as as “anticipates”, “intends”, “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets”, or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward looking statements involve risks, uncertainties and other factors that could cause results to differ materially from those expressed or implied by such forward-looking statements. There are many factors that could cause such differences, particularly: volatility and sensitivity to market metal process; impact of change in foreign currency exchange rates and interest rates; imprecision in reserve estimates; environmental risks including increase regulatory burdens; unexpected geological conditions; adverse mining conditions; changes in government regulations and policies, including laws and policies; failure to obtain necessary permits and approvals from government authorities; and other development and operating risks. Whereas the company believes the assumptions underlying in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, whether or not it should be revised because of new information, future events or otherwise, unless required to do so by the applicable securities laws. Qualified Person John Langton, M.Sc., P. Geo., owner of JPL Geoservices, is the Qualified Person under NI 43-101 on standards of disclosure for mineral projects. 2 2
“ The Nelligan gold discovery is a potential game changer for the district and will attract attention on our nearby Muus Project Blue Thunder Mining has the right ingredients, in a great location and at the right time to make amazing mineral discoveries. We are very excited and have high expectations.” – Chad Williams, CEO and Chairman 3
Blue Thunder Highlights LARGE LAND POSTION • Blue Thunder holds 100% interest in the Muus Project (~48,500 hectares), consisting of three separate blocks; Muus, Muus East and Nisk • Very compelling structural setting, covering ~24 km of the Guercheville Deformation Zone, host to many of the gold deposits in the Chibougamau District GEOLOGICAL HOT SPOT • Significant amount of recent staking, consolidation, acquisitions and M&A in the Chibougamau District • Muus Project is proximal to past producers and deposits (Joe Mann, Philibert, Chevrier) and recent exploration success (Nelligan, Monster Lake) QUEBEC AMONG THE BEST JURISDICTIONS • Quebec rated fourth best mining jurisdiction in the world by the Fraser Institute (2019) • Excellent access and infrastructure; ~55 km SSW of Chibougamau; good road access; power and rail nearby BLUE THUNDER COMMENCES TRADING ON THE TSX • Completion of the previously announced amalgamation with CPC Platform Eight Capital Corp. • Blue Thunder commenced trading on February 14, 2020 (TSX-V:BLUE) 4 4
Current Blue Thunder Share Data (as of February 14, 2020) TSXV:BLUE Principle Shareholders 51.84 M shares outstanding 4.85 M options 5.25 M warrants 61.94 M fully diluted Others 35.7% Red Cloud Mining Capital 43.5% Inc. 5.9% Plethora Private 3.7% Equity 11.2% Board and Delbrook Management 5
Muus Project - Location Muus Project - Location Muus Project - Location Chibougamau-Chapais Mining Camp: 3 billion pounds of copper and 4 million ounces of gold produced Chibougamau Chapais Waswanipi Well-maintained Forestry Service gravel road provides direct access to property Chevrier Monster Lake Fenton Bachelor Lake Joe Mann Phillibert Meston Nelligan Windfall Barry 6
Blue Thunder Claims Blue Thunder Claims Blue Thunder Claims Blue Thunder Claims Chibougamau Chapais Chevrier Muus East Monster Lake Muus Fenton Phillibert Joe Mann Meston Nelligan Nisk 1 Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources 7
Muus Project Geology Muus East Property Muus Property Nisk Property Note: Geology sourced from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website: sigeom.mrn.gouv.qc.ca 8
NEW DISCOVERY AT NELLIGAN → Game-Changing Discovery Nelligan Maiden Resource Announced October 2019 (75% IAMGOLD, 25% Vanstar) Inferred Resource: 97Mt @ 1.0 g/t Au = 3.2Moz Au (currently deposit is ~1 km along strike and open in most directions) October 22, 2019 IAMGOLD Corporation News Release Mineralization at Nelligan is Not Typical of the Abitibi → Gold mineralization hosted in ductile-deformed sedimentary units within the Druillette syncline and associated with the Guercheville Deformation Zone. → Pervasive alteration and replacement, with disseminated mineralization (rather than veins); this style of mineralization is not common locally. Another Nelligan to be Found? → The Nelligan host sedimentary units and structural fabrics strike WNW towards the Muus Property; Muus and Nelligan have similar underlying geology and setting. → Regional and local structures and deformation zones are common to both Muus and Nelligan. 9
HISTORICAL WORK • Majority of the exploration work on Muus between 1950’s and 1980’s, focused on discrete parts of the property. Nisk and Muus East remain mostly unexplored. • Previous work includes: ― 154 diamond-drill holes (ddh); mostly shallow and wide-spaced; anomalous drill hole assays were often not followed-up ― Till sampling using RC drilling ― Airborne and ground geophysical surveys (magnetics, EM, VLF, IP) ― Mapping, trenching and sampling BLUE THUNDER EXPLORATION • Blue Thunder acquired the Muus property in 2017 and have gradually added to the land position through staking and option agreements. • Blue Thunder exploration includes: ― Airborne fixed wing aeromagnetic survey in early 2019, covering the original Muus block (50-100 m spaced flight lines) ― Helicopter aeromagnetic survey (50-250 m spaced flight lines) in late 2019 covering the newly acquired ground at Muus, as well the Muus East and Nisk properties (results pending) ― Regional prospecting/sampling and a trenching/ sampling program at prospective Welb Showing (results pending) 10
MUUS HISTORICAL TILL SAMPLING Muus Property Guercheville Deformation Zone Clusters of till concentrate samples ranging up to >23,000 ppb Au Source: SIGEOM WEBSITE, SYSTEM D’INFORMATION GEOMINERE DU QUEBEC | CARTE INTERACTIVE 11
MEGATEM II MAGNETIC DATA Vertical Gradient of Residual Magnetic Field (5) Chevrier Main Zone (3) : Ind: 11Mt @ 1.2 g/t = 423Koz Inf: 6.3 Mt @ 1.3 g/t = 259Koz Joe Mann Mine Monster Lake Deposit (1) : Historical Production (4) : Inf: 1.1Mt @ 12 g/t = 433Koz Au 1.8Moz @ 8.5 g/t Au Muus East Muus Philibert Deposit (4) : Meston Deposit (4) : 1.4Mt @ 5.3g/t = 200Koz Au 1.2Mt @ 6.3g/t = 200Koz Au Nelligan Deposit (2) : Iamgold/Vanstar JV Inf: 97Mt @ 1.0 g/t = 3.2Moz Au Nisk (1) Monster Lake NI 43-101 Technical Report, Apr 9, 2018, Prepared for Iamgold Corp and Tomagold Corp (2) Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources 12 (3) Chevrier NI 43-101 Tehcnical Evaluation Report, Feb 4, 2019, Prepared for Genesis Metals Inc (4) Historical Resource estimate - Not in compliance with NI 43-101 and should not be relied upon (5) Sourced from Quebec Government SIGEOM website
MUUS AIR-MAG SURVEY (Total Magnetic Intensity) (December 2019) Muus Muus East Nisk During December 2019, the un-flown portions on Muus were flown, along with Nisk and Muus East 13
SELECTED MUUS HISTORICAL SHOWINGS + GEOLOGY Chesbar Deposit (1) Historic Resource 14Kt @ 1.9% Cu Lac Rane Chesbar 2-B 1.2% Cu + 0.4 g/t Au Lac Des Stables Drillhole 15 Over 0.5m Channel sample 0.6% Cu and 1.7 g/t Ag 0.3% Cu over 5.5m Lac Bernard-South Grab Sample From 282’ to 300’ Drillhole LB-1 PS-3 1 g/t Au over 1.6m Welb 2.6 g/t Au grab sample From 139.3m to 140.9m 8 g/t Au over 1m Channel sample Riverside Hole 1-A 29.5 g/t Au over 0.6m From 379 ft to 381 ft Lac Bernard West Drillhole SP-93-02 Drillhole F1: 1.6 g/t Au over 1m 0.6m @ 13.6 g/t Ag Lac des Vents South From 23.5m to 24.5m From 58.2m to 58.8m Hole LDV-9 Drillhole VS-93-01 4.0 g/t Au over 2.0m 1.1 g/t Au over 0.6m From 16.6m to 18.6m From 57.8m to 58.4m Drillhole LC-20 1.2 g/t Au over 0.4m From 66.5 to 66.9m Drillhole LDV-28 2.3 g/t Au over 1.5m From 76m to 77.5m (1) Historical Resource estimate - Not in compliance with NI 43-101 and should not be relied upon (2) Geology sourced from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM 14 website: sigeom.mrn.gouv.qc.ca
Muus Project: Initial Target Areas Muus East Property Muus Property Nisk Property Note: Geology sourced from Quebec Government’s Ministry of Energy and Natural Resources (MERN) SIGEOM website: sigeom.mrn.gouv.qc.ca 15 15
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