i n v e s t o r P r e s e n t a t i o n T S X - V: C N X | O T - - PowerPoint PPT Presentation

i n v e s t o r P r e s e n t a t i o n

T S X - V: C N X | O T C Q X : C L L X F

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C A L L I N E X I N V E S T O R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward- looking information and statements refmect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can generally be identifjed by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”, “could”, “continues”, “estimate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof. By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to difger materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks

• r uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company’s actual fjnancial condition or results
• f operations could difger materially from that or those described herein as anticipated, believed, estimated or expected. Any forward-looking

information or statements in this presentation speak only as at the date of this presentation. Except under the applicable securities laws, the Company does not intend, and expressly disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward looking information and statements, whether to refmect changes in the Company’s expectations with regard thereto or as a result of new information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based. Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements. The technical content of this presentation has been reviewed and approved by James Pickell, P .Geo, a consultant to the Company, and a Qualifjed Person as defjned by National Instrument 43-101.

F O R W A R D L O O K I N G I N F O R M A T I O N

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O U R H I S T O R Y , O u r m i s s i o n

OUR MISSION

To drive shareholder value by discovering economic copper and zinc rich VMS deposits in Manitoba

Callinan Mines, founded by Jack Callinan in 1927, has had a major presence in the Flin Flon mining district in Manitoba, Canada 777 VMS Mine, discovered on Callinan claims, commences production and royalty payments begin Callinan Mines splits into two entities: Callinan Royalties and Callinex, which holds the exploration portfolio today Callinex renews exploration focus on VMS deposits in Manitoba 1927 2011

OUR HISTORY

2014 2004

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C A L L I N E X I N V E S T O R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

RESOURCE CAPITAL FUNDS 18% RETAIL INVESTORS

38%

INSIDERS & CLOSE ASSOCIATES 44%

OWNERSHIP BREAKDOWN SHARE PERFORMANCE

C O R P O R A T E O V E R V I E W

TSX-V: CNX I OTCQX: CLLXF

Closing Price

(1/27/2016)

$0.29

52-Week Range

$0.23 - $0.40

Average Daily Volume (3 - mo)

38,314

Shares Outstanding

47.7M

Options Outstanding

4.4M

($0.33 VWAP)

Warrants Outstanding

2.8M

($0.45 VWAP)

Market Cap

13.8M

Debt

$0

Working Capital

$3.0M

As of 12/31/2015

RECENT TRADING CAPITAL STRUCTURE ENTERPRISE VALUE

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C A L L I N E X I N V E S TO R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

M A N A G E M E N T T E A M

Mike Muzylowski

Chairman

Max Porterfjeld

CEO, President and Director

Nico Civelli

VP Finance and director

Rebecca Moriarty

Chief financial officer

A renowned geologist and member of the Canadian Mining Hall of Fame with over 50 years

• f experience which has included

the discovery and development

• f 16 mineral deposits through to

production Over ten years of experience in natural resources and fjnancial markets, previously with Brazil Resources Inc., Uranium Energy

• Corp. and US Global Investors

An independent fjnancial advisor specializing in natural resources, and the VP of Finance for Pacifjc LNG which recently sold to Oil Search Ltd. for $900 million USD A Chartered Accountant with over 14 years of experience related to the mining industry, previously with PwC providing corporate fjnance, strategic planning and regulatory compliance services

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Mike Muzylowski

Chairman of the Board

Involved in the discovery of 12 VMS mines in the Flin Flon district including the Trout Lake mine, which operated from 1982-2012. Mr. Muzylowski received the 1988 PDAC Developer of the Year award and is a 2011 inductee into the Canadian Mining Hall of Fame.

Technical Team

Canadian Mining Hall of Fame Inductee and PDAC Developer of the Year award PDAC Bill Dennis Prospector of the Year award

James Pickell

Consulting Geologist

Over 40 years of VMS exploration experience within the Flin Flon district that has led to several economic discoveries including Callinan North, Konuto Lake and 777 ore bodies.

• Mr. Pickell is a recipient of the PDAC Bill Dennis Prospector of

the Year Award for his role in the discovery of the 777 Mine.

Alan Vowles

Consulting Geophysicist

Over 35 years of VMS exploration experience within the Flin Flon district and an integral member of the HudBay team that discovered the Lalor deposit. Mr. Vowles is a recipient of the PDAC Bill Dennis Prospector of the Year Award for his role in the discovery of the Lalor Mine.

TROUT MINE +22 MT 777 MINE +21 MT LALOR MINE +25 MT

JJ O’Donnell

Consulting Geologist

Over 20 years of VMS exploration experience within the Flin Flon district while holding senior positions with Callinex, HudBay and Granges. Mr. O’Donnell was instrumental in mapping the 777 mine stratigraphy and in the acquisition of Callinex’s Flin Flon Project.

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W H Y M A N I T O B A

COMPETITIVE ADVANTAGE

Team members involved in three of the four largest VMS discoveries in the belt

MINERAL ENDOWMENT

Rich history of development with 67 mines since 1915

INFRASTRUCTURE

Projects located nearby current mining

• perations with road and power access

WORLD CLASS JURISDICTION

Ranked 4th globally for Investment Attractiveness1 including cash subsidies

• f up to $200,000 per year for approved

exploration expenditures

1Source: Fraser Institute: Survey of Mining Companies (2014)

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HIGH GRADE

Polymetallic deposits containing copper, zinc, lead, gold and silver

FORMATION

Deposits

• ccur

where mineral rich, superheated water is brought to the surface by volcanic activity

DISTRICT SCALE

Most VMS deposits occur in clusters that defjne major mining districts, such as Flin Flon

PREVALENCE

350 deposits and major VMS occurrences in Canada; Manitoba hosts the second largest number of deposits in the nation1

Source: 1 Mineral Deposits of Canada, Volcanogenic Massive Sulphide Deposits

VOLCANOGENIC MASSIVE SULPHIDE DEPOSITS

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SUCCESS RATE

Over 50% of deposits have been advanced to production, totaling 32 mines which have led to 86 consecutive years of mining

INFRASTRUCTURE

Over $1.6 billion invested towards mine development with road, rail, power and water infrastructure to facilitate quick development of new discoveries

TIMELINES AND CAPEX

Typically less than six years from discovery to development with reduced capital expenditures

F L I N F L O N M I N I N G D I S T R I C T

Flin Flon (100 Mt) Snow Lake (60 Mt)

Clusters of VMS deposits make up the Flin Flon/Snow Lake mining districts in the Flin Flon Greenstone Belt

CLUSTER EFFECT

Recent discoveries have typically been larger in size and deeper than previously discovered

DEPTH OF MINES

Initial Production

Average Depth Deposit Size

• 1500
• 1200
• 900
• 600
• 300

20+ 16 12 8 4

1916 1930 1948 1955 1955 1982 1990 2004 2013 2014

Average Depth (m) Deposit Size (Million Tonnes)

1975 1969

777 Trout Lake Lalor Reed North Star Flin Flon Cuprus Mandy Don Jon Centennial Callinan Pine Bay

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s t r a t e g i c p r o j e c t p o r t f o l i o

N

Flin Flon Project Flin Flon Pine Bay Project 777 Mine Processing Facility

LEGEND

Deposit Historic Mine Pine Bay Shaft Emerging Callinex Discovery Callinex Claims Callinex Mining Lease HudBay Claims Road Power Rail

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MINE DEPLETION The Flin Flon processing facility has excess capacity and requires additional ore within four years

• 777 Mine to be exhausted by 2020
• Reed Lake Mine to be exhausted 2019

EXPLORATION FOCUS Strategy to outsource exploration through junior partners; few juniors actively exploring in Manitoba REED LAKE MINE Hudbay acquired the small high grade VMS deposit in exchange for a 30% carried interest to the vendor. Reed Lake

• re is hauled more than 100 km to the Flin Flon processing

facility

H U D B A Y ' S M A N I T O B A O P E R A T I O N S

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• Ongoing 10 hole, 6,500m drilling program
• Hole PBM-008 discovered a new massive sulphide

zone grading 3.3m of 3.2% Cu

• Plans to expand strike length of new discovery to

150 - 200m before testing depth potential

• Awaiting analytical results from an additional 8 holes

including from the Sourdough zone

• 3,500m follow-up summer drilling program planned

2 0 1 6 w i n t e r d r i l l i n g p r o g r a m

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P I n e B a y p r o j e c t O v e r v i e w

STRATEGIC LOCATION

16km to HudBay’s Flin Flon processing facilities, which has less than four years

• f supply remaining

FAST-TRACK POTENTIAL

Vertical shaft and underground workings permitted for mining activities

TWO EMERGING DISCOVERIES

Both zones open for expansion along strike and at depth

PREVIOUSLY CONTROLLED BY MAJORS

Individual claim areas held by Placer Dome, Inmet, Newmont and HudBay

N

Pine Bay Project Deposit Historic Mine Mine Shaft Emerging Callinex Discovery Callinex Claims Callinex Mining Lease HudBay Claims Road Power Rail

LEGEND N

KILOMETERS

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• Three known deposits including the Pine Bay

deposit with a historic vertical shaft and signifjcant underground workings

• Previously explored by Placer Dome, who had a

mandate to identify a 30 Mt VMS deposit

• Covers one of the largest felsic volcanic packages

in the belt, which are the primary host rocks for VMS deposits

• New discovery from drill testing target that both

Placer Dome and Inmet attempted to drill, but did not reach the target area

P I N E B A Y a r e a

POTENTIAL FOR A LARGE VMS DEPOSIT

N

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

Deposit Historic Mine Mine Shaft Emerging Callinex Discovery Callinex Claims Callinex Mining Lease HudBay Claims Alteration Zone

N

+ + + + + + + + + Baker Patton Felsic Complex Road Power

LEGEND

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Pine bay deposit

• A 212m vertical shaft with 760m of

undergroundworkings were developed to access high-grade copper mineralization

• Average lens thickness 4-5 meters
• Mineralization is located within a mining lease

The Pine Bay deposit is historically estimated to contain:* > 667,900 tons at 3.90% copper at a 2.0% cutofg grade > 783,000 tons at 3.54% copper at a 1.5% cutofg grade > 1,113,200 tons at 2.76% copper at a 1.0% cutofg grade

*Historic resource estimates on the property total 1.62 Mt at a grade of 2.81% copper equivalent for the Pine Bay, Cabin, Baker Patton and Sourdough deposits are based on data and reports prepared by previous operators: Wright Engineers in 1970, Pine Bay Mines in 1976, McMillan in 1968 and Keys in 1963. The company has not completed the work necessary to have the historical estimate verifjed by a QP . The company is not treating the estimate as a current 43-101 defjned resource and the historical estimate should not be relied upon. The property will require future exploration.This is a historic estimates has not been verifjed by the Company and should not be relied upon.

Callinex is the fjrst to digitally compile all historic data and identify expansion opportunities Looking Southwest

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Pine Bay East: An Emerging New Discovery

• Discovery hole intersected 3.3m of

3.2% copper and 5.9m of 2.2% zinc

• Highly conductive source located below

and to the north of the discovery hole

• Open along strike in both directions

with no previous drilling at depth

• Hosted within extensively altered felsic

rocks at the margins of the largest felsic volcanic complex in the belt

400 600 800 1000 1200 1400 200 400

• 200
• 400
• 600

200m

375m

SURFACE

NE

LONG SECTION OF LOWER VMS HORIZON

3.3m of 3.2% Cu 0.75m of 10.0% Cu

LEGEND

Drill Hole Geophysical Plates Projected Plunge

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• The VMS zone was previously undetected

from ground geophysics due to its depth below surface and is a ‘blind’ discovery

• Hole SDB001 encountered 176 meters
• f alteration and intersected a 7.4m zone

that assayed 1.58% Cu Eq.

• Geophysical

borehole anomaly, associated with intersected copper mineralization, extends for +100m along strike and at depth

• Located approximately 100m to the east

and below the historic Sourdough deposit

s o u r d o u g h a r e a h o s t s n e w V M S Z o n e

N

SDB001 SDB002 SDB003

2 . 3 k m KILOMETER 1

Deposit Drill Holes New VMS Zone 2015 HBM Drilling Historic Mine Callinex Claims HudBay Claims Sourdough Horizon Road

LEGEND

SOURDOUGH DEPOSIT CENTENNIAL MINE

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• The new zone is open in all directions with no

nearby drilling

• Geophysical

and geological interpretations indicate that the discovery hole is located at the northern edge of a larger conductive source

• Assays pending from recently completed 120m

step-out hole testing down-dip extension

W i n t e r D r i l l i n g a t t h e n e w z o n e

500 m 0 m

SOURDOUGH DEPOSIT BOREHOLE CONDUCTOR SDB001 NEW VMS ZONE

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Pine Bay East Discovery

E x p l o r a t i o n M i l e s t o n e s

2014 2016 2015 Historic data compilation on land package Extensive ground geophysical program and confjrmation drilling Technical team is strengthened Sourdough Bay Discovery

Acquired 100%

• wnership of Pine

Bay and Flin Flon Projects

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OWNERSHIP

Large 2,455 ha property, 100%

• wnership subject to 2% NSR

INFRASTRUCTURE

Located within 5km via highway to the Flin Flon concentrator

PROSPECTIVITY

Strategic land position with limited historic drilling surrounded by HudBay claims

GEOPHYSICAL SURVEY

2012 airbourne survey identifjed several prospective geophysical targets

F L I N F L O N P R O J E C T

KILOMETERS 2

Flin Flon Project Flin Flon 777 Mine

N

1 K M R A D I U S

• 1

V M S D E P O S I T S

LEGEND

Callinex Deposit Mine Site Road Power Rail Callinex Claims HudBay Claims

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I N V E S T M E N T S U M M A R Y

PROJECT PORTFOLIO STRONG TEAM TIGHT CAPITAL STRUCTURE

Two emerging discoveries at the Pine Bay Project Ongoing news fmow with 10,000m, two-phase drilling program for 2016 World-class technical team that has been involved in the last three major discoveries in the Flin Flon Greenstone Belt Strategic land package located in close proximity to HudBay’s operations Well-funded with strong institutional and insider ownership

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C A L L I N E X I N V E S T O R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

604.605.0885 info@callinex.ca www.callinex.ca Corporate Head Offjce 1555 - 555 West Hastings Street Vancouver, BC Canada V6B 4N4 President and CEO: Max Porterfjeld Corporate Counsel: Northwest Law Group Auditors: Davidson & Company LLP

C O N T A C T I N F O R M A T I O N