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
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 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 or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company’s actual fjnancial condition or results of 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. 2 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
O U R H I S T O R Y , O u r m i s s i o n OUR HISTORY Callinan Mines, founded by Jack Callinan in 1927 1927, has had a major presence in the Flin Flon mining district in Manitoba, Canada OUR MISSION 777 VMS Mine, discovered on Callinan 2004 To drive shareholder value by discovering claims, commences production and royalty payments begin economic copper and zinc rich VMS deposits in Manitoba Callinan Mines splits into two entities: 2011 Callinan Royalties and Callinex, which holds the exploration portfolio today Callinex renews exploration focus on VMS 2014 deposits in Manitoba T S X - V: C N X | O T C Q X : C L L X F 3 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
C O R P O R A T E O V E R V I E W TSX-V: CNX I OTCQX: CLLXF RECENT TRADING SHARE PERFORMANCE Closing Price 52-Week Average Daily (1/27/2016) Range Volume (3 - mo) $0.29 $0.23 - $0.40 38,314 CAPITAL STRUCTURE Warrants Shares Options Outstanding Outstanding Outstanding 47.7M 4.4M 2.8M OWNERSHIP BREAKDOWN ($0.45 VWAP) ($0.33 VWAP) RETAIL INVESTORS RESOURCE 38% CAPITAL FUNDS ENTERPRISE VALUE 18% Market Cap Debt Working Capital $3.0M 13.8M $0 As of 12/31/2015 INSIDERS & CLOSE ASSOCIATES 44% 4 C A L L I N E X I N V E S T O R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F
Resource Capital Funds - Our Strategic Partner US$ 2.5 billion mining-focused private equity fjrm that partners with portfolio companies to build strong, successful and sustainable businesses PATIENT APPROACH Provide patient capital and remain committed to strategies irrespective of short-term commodity or equity price fmuctuations MINING EXPERTS Team of over 70 high-level mining professionals with extensive experience in all aspects of resource development complemented by fjnancial and legal market expertise ACCESS TO EXTENSIVE GLOBAL NETWORKS Provide access to their extensive global network including industry professionals, capital markets contacts and ofg-take partners T S X - V: C N X | O T C Q X : C L L X F 5 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
M A N A G E M E N T T E A M Mike Muzylowski Nico Civelli Rebecca Moriarty Max Porterfjeld VP Finance and director Chief financial officer Chairman CEO, President and Director A renowned geologist and Over ten years of experience in An independent fjnancial advisor A Chartered Accountant with over member of the Canadian Mining natural resources and fjnancial specializing in natural resources, 14 years of experience related to Hall of Fame with over 50 years markets, previously with Brazil and the VP of Finance for Pacifjc the mining industry, previously with of experience which has included Resources Inc., Uranium Energy LNG which recently sold to Oil PwC providing corporate fjnance, the discovery and development Corp. and US Global Investors Search Ltd. for $900 million USD strategic planning and regulatory of 16 mineral deposits through to compliance services production T S X - V: C N X | O T C Q X : C L L X F 6 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
d i r e c t o r s A n d a d v i s o r y b o a r d DIRECTORS ADVISORY BOARD Carlo Civelli, Chairman Keith Minty Since founding Clarion Finanz AG in 1980, Mr. Civelli has been An experienced mining engineer currently serving as the Senior VP instrumental in funding early stage investments, nearly a dozen of which of Business Development at Stope Capital Advisors and a Director of have developed into billion dollar market cap companies Auryn Resources Inc., previously the Chief Operating Offjcer of Thani Emirates Resource Holdings Ltd. Jason Dunning Peter Schriber Over 20 years experience in base and precious metal exploration, A Co-Founder of PI Financial, Mr. Schriber is an independent fjnancial currently serving as the Manager of Nystar’s Mining Group, one of the consultant with an extensive history in merchant and commercial world’s largest zinc producers, and previously a Project Geologist with banking, specializing in corporate fjnance Hudbay focused on the Flin Flon area Steve Swatton Michael Louie Over 28 years of experience in both technical and senior managerial A Principal in D+H Group LLP with 25 years of accounting experience, experience, previously the Global Head of Business Development for specifjcally working on behalf of First Nations organizations and BHP Billiton’s Exploration Division specializing within the Canadian mining sector Jayant Bhandari A Senior Analyst of Anarcho Capital, distinguished speaker and published author, Mr. Bhandari advises institutional investors about opportunities in the natural resources sector on a global scale 7 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
Technical Team Mike Muzylowski James Pickell Consulting Geologist Chairman of the Board TROUT MINE +22 MT 777 MINE +21 MT Involved in the discovery of 12 VMS mines in the Flin Flon Over 40 years of VMS exploration experience within the Flin district including the Trout Lake mine, which operated Flon district that has led to several economic discoveries from 1982-2012. Mr. Muzylowski received the 1988 PDAC including Callinan North, Konuto Lake and 777 ore bodies. Developer of the Year award and is a 2011 inductee into Mr. Pickell is a recipient of the PDAC Bill Dennis Prospector of the Canadian Mining Hall of Fame. the Year Award for his role in the discovery of the 777 Mine. Alan Vowles JJ O’Donnell Consulting Geologist Consulting Geophysicist LALOR MINE +25 MT Over 35 years of VMS exploration experience within the Over 20 years of VMS exploration experience within the Flin Flon district and an integral member of the HudBay Flin Flon district while holding senior positions with Callinex, team that discovered the Lalor deposit. Mr. Vowles is a HudBay and Granges. Mr. O’Donnell was instrumental in recipient of the PDAC Bill Dennis Prospector of the Year mapping the 777 mine stratigraphy and in the acquisition of Award for his role in the discovery of the Lalor Mine. Callinex’s Flin Flon Project. Canadian Mining Hall of Fame Inductee and PDAC Developer of the Year award PDAC Bill Dennis Prospector of the Year award 8 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
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