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I NVE ST OR PRE SE NT AT I ON ANNUAL GE NE RAL ME E T I NG, 30 NOVE MBE R 2017 I NVE ST ME NT HI GHL I GHT S T hre e a dva nc e d, hig h-g ra de c o b a lt pro je c ts in No rth Ame ric a : Colson Cobalt Pr

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SLIDE 1

I NVE ST OR PRE SE NT AT I ON – ANNUAL GE NE RAL ME E T I NG, 30 NOVE MBE R 2017

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SLIDE 2
  • T

hre e a dva nc e d, hig h-g ra de c o b a lt pro je c ts in No rth Ame ric a :

Colson Cobalt Pr

  • je c t in Idaho
  • Assa ys fro m sa mpling histo ric unde rg ro und wo rking s a t the inc lude :
  • 2.5m @ 5.33% Cu, 0.59% Co and 2.24 g/ t Au
  • 1.3m @ 6.16% Cu, 0.65% Co and 2.54 g/ t Au
  • 1.8m @ 2.99% Cu, 0.31% Co, 3.48 g/ t Au and 27.7 g/ t Ag

Goodspr ings Pr

  • je c t in Ne vada
  • Ore g ra ding to 29% c obalt shippe d pre vio usly fro m the Co lumb ia Mine within the Co mpa ny’ s pro je c t a re a

Haze lton Pr

  • je c t in Br

itish Columbia

  • Ore fro m the histo ric Vic to ria Mine g ra de d 123.4 g/ t gold and 2.8% c obalt
  • Optio n to a c q uire a n 80% inte re st in the Ke e l Zinc Pr
  • je c t, Ir

e land

  • I

nfe rre d Re so urc e o f 6.9 Mt @ 5.6% Zn and 0.8% Pb 1

  • $2.5m c ash at 30 Se pte mbe r 2017 (and ~$5.3m wor

th of shor t- date d “in- the - mone y” Options)

  • Ne w manage me nt te am installe d on 27 Oc tobe r

:

  • Co nc e rte d e xplo ra tio n pro g ra ms a t the Co mpa ny’ s ne w c o b a lt pro je c ts unde rwa y

I NVE ST ME NT HI GHL I GHT S

2

  • 1. Re fe r to ASX a nno unc e me nt da te d 07/ 03/ 2017 fo r furthe r info rma tio n re g a rding the Mine ra l Re so urc e e stima te .
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SLIDE 3

Capital Struc ture ASX: L F R Shar e s 381.1M Options 10M @ $0.02 (e xpir e 31/ 12/ 17) 103.4M @ $0.05 (e xpir e 31/ 7/ 18) 10M @ $0.10 (e xpir e 10/ 5/ 20) Pe r for manc e Shar e s 23.8M Ca sh (30/ 9/ 17) $2.5M Mar ke t Cap (@ $0.11) $41.9M

CORPORAT E OVE RVI E W

3

Board Ric har d Hill Non- E xe c . Chair man Mike Hayne s Managing Dir e c tor Bill Guy E xe c utive Dir e c tor Sc ott Mison Non- E xe c . Dir e c tor

L

  • ngfor

d shar e pr ic e dur ing the past 12 months

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SLIDE 4
  • On Oc to b e r 27, 2017 L
  • ng fo rd a c q uire d unliste d c o mpa ny L

ia z Pty L td (“L ia z”)

  • L

ia z ha s b e e n b uilding a po rtfo lio o f No rth Ame ric a n c o b a lt a sse ts sinc e De c e mb e r 2016

  • Ne w L
  • ng fo rd dire c to rs a ppo inte d:
  • Mike Ha yne s – Ma na g ing Dire c to r
  • Ric ha rd Hill – No n-E

xe c utive Cha irma n

  • De nve r-b a se d E

xplo ra tio n Ma na g e r, No rth Ame ric a a ppo inte d:

  • Pa tric k Sig lin

ACQUI SI T I ON OF NORT H AME RI CAN COBAL T ASSE T S

4 L

  • c ation of L

iaz’s Pr

  • je c ts in the USA and Canada
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SLIDE 5
  • De ma nd fo r c o b a lt is inc re a sing a t 6.9% CAGR
  • 49% o f c o b a lt use d in the ma nufa c ture o f b a tte rie s
  • I

n 2016 47,200 to nne s o f c o b a lt we re use d in b a tte rie s

  • De ma nd fo re c a st to do ub le to 94,800 to nne s

b y 2026

  • Curre ntly a supply de fic it
  • F
  • re c a st to wo rse n in c o ming ye a rs –

susta ine d hig h c o b a lt pric e s a re pro b a b le

  • T

he c o b a lt pric e pe a ke d a t US$52.30/ lb in 2008 whe n the re wa s a supply de fic it c o mpa ra b le to tha t fo re c a st fo r 2020 (vs c urre nt pric e o f US$27/ lb )

  • 65% o f wo rld c o b a lt mine d in the DRC
  • Po litic a lly unsta b le
  • I

nc re a sing de ma nd fo r e thic a lly mine d c o b a lt

  • Only 2% o f the wo rld’ s c o b a lt is de rive d fro m mine s

whe re c o b a lt is the prima ry e le me nt mine d

  • Mo st c o b a lt is pro duc e d a s a b y-pro duc t in

c o ppe r a nd nic ke l mine s

  • E

xpa nsio n o f the se mine s wo n’ t ne c e ssa rily b e drive n b y a rising c o b a lt pric e

WHY COBAL T ?

5 Cobalt pr ic e ove r the past 10 ye ar s and supply-de mand balanc e

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SLIDE 6
  • A 60km-lo ng b e lt ho sting the la rg e st kno wn

hig h-g ra de c o b a lt re so urc e s in the US

  • 1949 – 1960:

5Mt of or e mine d fr

  • m the Blac kbir

d Mine @ 1.5% Cu and 0.6% Co

  • Curre nt a c tivity:

e Cobalt Solutions Inc . (T

SX:E CS)

  • De ve lo ping the fully pe rmitte d Ra m De po sit
  • Ho sts re so urc e s o f 4.7Mt @ 0.53% Co, 0.73%

Cu and 0.48g/ t Au

  • F

irst pro duc tio n ta rg e te d fo r 2019

  • Ma rke t c a p. C$146m

US Cobalt Inc . (T

SXV:USCO)

  • Prima ry pro je c t is the I

ro n Cre e k De po sit

  • Histo ric re so urc e o f 1.16Mt @ 0.59% Co
  • Curre ntly drilling 41 ho le s fo r ~ 12,000m
  • Ma rke t c a p. C$35m

T HE I DAHO COBAL T BE L T – T HE PRE MI E R COBAL T DI ST RI CT I N T HE USA

6 L

  • c ation of de posits in the Idaho Cobalt Be lt, Idaho
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SLIDE 7
  • Ce ntre d o n the Sa lmo n Ca nyo n Co ppe r-Co b a lt

De po sit – o ne o f fe w a dva nc e d pro spe c ts in the I da ho Co b a lt Be lt

  • L
  • c a te d 25km a lo ng strike (NW) fro m the

histo ric Bla c kb ird Co b a lt Mine

  • Dire c t ro a d a c c e ss to e Co b a lt So lutio ns’ Ra m

De po sit Co lso n Pro je c t c o mprise s two la ndho lding s:

1. Option to Ac quir e the Salmon Canyon Coppe r

  • Cobalt De posit
  • L

ia z ha s the e xc lusive rig ht to a c q uire 100% o f the Sa lmo n Ca nyo n Co ppe r-Co b a lt De po sit

  • T

his a re a c o mprise s 10 BL M c la ims c o ve ring ~200 a c re s

  • 2. 100% - owne d BL

M c laims

  • L

ia z ha s se c ure d a 100% inte re st in the a re a surro unding the Sa lmo n Ca nyo n De po sit b y sta king 46 BL M c la ims c o ve ring a n a dditio na l 920 a c re s

T HE COL SON COPPE R-COBAL T PROJE CT , I DAHO COBAL T BE L T

7 Cur r e nt e xte nts of the Colson Coppe r

  • Cobalt Pr
  • je c t
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SLIDE 8
  • Disc o ve re d in the e a rly 1960s
  • 700m o f unde rg ro und de ve lo pme nt b e twe e n 1964 a nd 1979
  • 500m-lo ng unde rg ro und drift a nd 3 ra ise s
  • Se ve ra l hundre d to nne s o f o re we re mine d, mille d,

c o nc e ntra te d a nd sme lte d a t Ana c o nda ’ s sme lte r in Mo nta na

  • Virtua lly no wo rk unde rta ke n sinc e 1980
  • De po sit still o wne d b y the pro spe c to r who disc o ve re d it (no w

82 ye a rs o ld)

T HE COL SON COPPE R-COBAL T PROJE CT HI ST ORY OF T HE SAL MON CANYON DE POSI T

8 Por tal to the Salmon Canyon Coppe r

  • Cobalt De posit

Or e , c onc e ntr ate and c oppe r me tal fr

  • m the Salmon

Canyon Coppe r

  • Cobalt De posit
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SLIDE 9

T HE SAL MON CANYON DE POSI T – PRE VI OUS WORK

9

  • T

wo pa ra lle l, sub -ho rizo nta l ho rizo ns o f stra tifo rm c o ppe r-c o b a lt mine ra lisa tio n (c ha lc o pyrite , c o b a ltite , a rse no pyrite a nd pyrite ) within me ta mo rpho se d se dime nts (g a rne t g ne iss)

  • Mine ra lisa tio n ma ppe d o ve r >300m o f strike a nd drille d o ve r >600m

do wn-dip

  • Only 18 hole s dr

ille d fro m surfa c e a nd unde rg ro und:

  • Ma ny (e a rly) ho le s we re n’ t a ssa ye d fo r c o b a lt
  • Assa y re sults inc lude
  • 2.5m @ 5.33% Cu, 0.59% Co, 2.24 g / t Au
  • 1.3m @ 6.16% Cu, 0.65% Co, 2.54 g / t Au
  • 1.8m @ 2.99% Cu, 0.31% Co, 3.48 g / t Au a nd 27.7 g / t Ag
  • Mine r

alisation r e mains ope n in all dir e c tions

  • Gr

ade appe ar s to be inc r e asing to the nor th and we st Plan vie w showing unde r gr

  • und wor

kings and pr e vious dr illing at the Salmon Canyon Coppe r

  • Cobalt De posit
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SLIDE 10

Q4 2017

  • Syste ma tic so il sa mpling o ve r so uthe rn po rtio n o f Pro je c t a re a
  • Co ppe r-c o b a lt mine ra lisa tio n re po rte dly o utc ro ps to the so uth o f the Sa lmo n Ca nyo n De po sit
  • I

nitia l sa mple a c q uisitio n pro g ra m ne a ring c o mple tio n; Assa y re sults a ntic ipa te d Q1 2018

  • Drill pe rmit a pplic a tio ns b e ing a dva nc e d

Q1/ Q2 2018

  • F
  • llo w-up ma pping a nd infill so il sa mpling o ve r a re a s with a no ma lo us so il g e o c he mistry
  • Ma pping a nd re -sa mpling unde rg ro und wo rking s to re fine drill ta rg e ts
  • Gro und g e o physic s a s a ppro pria te
  • I

nitia l drill-te sting o f ta rg e ts g e ne ra te d fro m the Co mpa ny’ s wo rk - c e rta inly fro m surfa c e a nd po ssib ly fro m unde rg ro und

T HE COL SON COPPE R-COBAL T PROJE CT , I DAHO – F ORWARD PL ANS

10 Old building and r ail at the e ntr anc e to the Salmon Canyon Coppe r

  • Cobalt De posit

L adde r in r aise at the Salmon Canyon Coppe r

  • Cobalt De posit

Uppe r adit at the Salmon Canyon Coppe r

  • Cobalt De posit
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SLIDE 11

T HE GOODSPRI NGS COPPE R-COBAL T PROJE CT , NE VADA

  • Nume ro us sma ll-sc a le c o ppe r mine s
  • pe ra te d in the e a rly 1900s
  • L

ittle to no a tte ntio n pa id to the c o b a lt po te ntia l a t the time o f mining

  • Histor

ic pr

  • duc tion of e xtr

e me ly high- gr ade c obalt or e fr

  • m multiple c oppe r

de posits in the distr ic t:

Co lumb ia Mine

  • 3 shipme nts o f o re in 1921:
  • 249kg @ 29.18% Co
  • 1,720kg @ 13.42% Co
  • 2,190kg @ 5.13% Co

Co ppe r Chie f Mine

  • 3 shipme nts o f ha nd-so rte d o re

re c o ve re d fro m the wa ste dumps in 1921:

  • 868kg @ 20.0% Co
  • 5,881kg @ 10.86% Co
  • 4,893kg @ 7.20% Co

Hig hline Mine

  • 2 shipme nts o f ha nd-so rte d o re

re c o ve re d fro m the wa ste dumps in 1921:

  • 544kg @ 12.45% Co
  • 2,186kg @ 6.35% Co
  • T

e c hnic a l re po rts a sse rt the re is c o b a lt po te ntia l a t mo st/ a ll o f the histo ric c o ppe r de po sits

Vie w fr

  • m the Columbia De posit to Goodspr

ings 11

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SLIDE 12

T HE GOODSPRI NGS COPPE R-COBAL T PROJE CT , NE VADA

12 Histor ic wor kings at the Rose Mine , Goodspr ings Distr ic t, Ne vada

  • L

ia z ha s se c ure d a 100% inte re st in ~12km 2 la ndho lding :

  • I

nc lude s se ve ra l histo ric c o ppe r +/ - c o b a lt de po sits:

  • Columbia Mine
  • 3 shipme nts o f o re in 1921:
  • 249kg @ 29.18% Co
  • 1,720kg @ 13.42% Co
  • 2,190kg @ 5.13% Co
  • Rose Coppe r

Mine – whe re ro c k

sa mple s c ontaining up to 10%

c obalt oxide (7- 8% Co) ha ve

b e e n re po rte d

  • F

itzhugh L e e Coppe r Mine –

whe re o re g ra ding up to 21.5%

Cu wa s shippe d in 1915-1917 (no

re c o rds o f histo ric a ssa ys fo r Co )

  • Se c ure d imme dia te e xte nsio ns o f the

g e o lo g ic a l se q ue nc e tha t ho sts the Co lumb ia , Co ppe r Chie f a nd Hig hline De po sits – fro m whe re ve ry hig h-g ra de c o b a lt o re wa s re c o ve re d in the 1920s

  • No e vide nc e o f a ny mo de rn e xplo ra tio n
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SLIDE 13

T HE GOODSPRI NGS COPPE R-COBAL T PROJE CT , NE VADA – F ORWARD PL ANS

13

Q4 2017/ Q1 2018

  • Re c o nna issa nc e visit with c o nsulting

g e o lo g ist c o mple te d la te No ve mb e r

  • Drill ta rg e ts will b e ra pidly de line a te d b y:
  • Co nduc ting syste ma tic soil sampling
  • ve r the e ntire pro je c t a re a
  • Co nduc ting gr
  • und ge ophysic al

sur ve ys (mo st like ly 3-D I

P surve ying )

  • I

nte g ra ting this da ta with ne w g e o lo g ic a l mapping o f ta rg e ts a rising

Q2/ Q3 2018

  • Hig he st prio rity ta rg e ts will the n b e

syste matic ally dr ill- te ste d

  • T

he a c c e ssib ility o f the pro je c t a nd the re g ula to ry fra me wo rk in Ne va da a re b o th c o nduc ive to b ring ing the pro je c t to drill-re a dy sta g e ve ry q uic kly

  • Wo rk is c o ntinuing to e xpa nd o ur

la ndho lding , with se ve ra l o the r hig h- prio rity a re a s b e ing pursue d fo r a c q uisitio n

Histor ic wor kings in the Goodspr ings Pr

  • je c t ar

e a, Ne vada

slide-14
SLIDE 14

T HE HAZE L T ON COBAL T

  • COPPE

R-GOL D PROJE CT , BRI T I SH COL UMBI A

14

  • Pro je c t c o mprise s 10km2 in a we ll-

e ndo we d, hig h-g ra de g e o lo g ic a l pro vinc e

  • I

nc lude s 3 histo ric mine s:

  • Vic tor

ia Mine – whe r e or e gr ade s ave r age d 123.4 g/ t gold and 2.8% c obalt

  • Roc he r

De boule Mine – whe r e or e gr ade s ave r age d 5.9% c oppe r and 2.9 g/ t gold

  • Highland Boy Mine – whe r

e or e gr ade s ave r age d 7.0% c oppe r and 1.8 g/ t gold

  • No mining sinc e 1952
  • Only limite d e xplo ra tio n sinc e 1952
  • Appe a rs to ha ve o nly b e e n 1 drilling

pro g ra m:

  • Unde rg ro und drilling a t Ro c he r

De b o ule in 1988

  • 14 ho le s fo r 894m
slide-15
SLIDE 15

T HE HAZE L T ON COBAL T

  • COPPE

R-GOL D PROJE CT , BRI T I SH COL UMBI A

15

Vic tor ia Mine

  • 3 pa ra lle l ve ins 200-300m a pa rt
  • 5 a dits a ll o n the No . 1 ve in
  • 81 tonne s of or

e gr ade d 123.4 g/ t gold and 2.8% c obalt

  • L

a st pro duc tio n in 1941

  • Unde rg ro und sa mpling pro g ra m o n the No . 1 ve in in 1949

re turne d :

  • 0.5m @ 51.0 g / t g old a nd 1.08% c oba lt (No. 3 a dit; 1,576m r

L )

  • 0.25m @ 68.4 g/ t gold and 0.83% c obalt (No. 3 adit)
  • 0.4m @ 188.5 g / t g old a nd 2.72% c oba lt (No. 2 a dit; 1,606m r

L )

  • 0.3m @ 63.4 g/ t gold and 1.81% c obalt (No. 2 adit)
  • 0.2m @ 115.1 g / t g old a nd 2.5% c oba lt (No. 1 a dit; 1,679m r

L )

  • 0.25m @ 32.3 g/ t gold and 1.9% c obalt (No. 1 adit)
  • 0.15m @ 241.0 g/ t gold and 3.3% c obalt (No. 1 adit)
  • 0.35m @ 56.0 g / t g old a nd 0.25% c oba lt (No. 0 a dit; 1,755m r

L )

  • 0.25m @ 87.1 g / t g old a nd 3.2% c oba lt (No. 00 a dit; 1,799m r

L )

  • 0.2m @ 158.3 g/ t gold and 3.8% c obalt (No. 00 adit)
  • L

imite d surfa c e sa mpling in 1990; re sults inc lude d:

  • 2.44m @ 30.5 g/ t gold and 0.35% c obalt

Histor ic pr

  • duc tion fr
  • m the Vic tor

ia Mine , Haze lton Cobalt- Coppe r

  • Gold Pr
  • je c t
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SLIDE 16

T HE HAZE L T ON COBAL T

  • COPPE

R-GOL D PROJE CT , BRI T I SH COL UMBI A

16

Roc he r De boule Mine

  • 5 pa ra lle l struc ture s tha t ho st ve ins
  • Ve ins up to 700m lo ng
  • Ore initia lly mine d fro m the No . 4 ve in
  • By 1917 a 945m lo ng drive ha d b e e n de ve lo pe d (fro m the

va lle y flo o r) tha t inte rse c te d a ll ve ins

  • Pro duc tio n in 1917-18 o n the No . 2 ve in
  • Ope ra tio ns re c o mme nc e d in Ma y 1952 with a 100 to n/ da y

mill b ut shut do wn in No v. 1952

  • No mining sinc e
  • Unde rg ro und drilling in 1988 e va lua te d a 80m x 100m pa ne l
  • f the No . 2 ve in:
  • 5.55m a t 3.07% Cu, 7.51g / t Au a nd 264.7 g / t Ag
  • 2.78m @ 3.77% Cu, 13.06 g / t Au a nd 138.5 g / t Ag
  • 1.13m @ 3.4% Cu, 0.72 g / t Au a nd 1229.8 g / t Ag
  • 1.16m @ 4.51% Cu, 1.41 g / t Au a nd 27.8 g / t Ag
  • 0.7m @ 4.17% Cu, 1.41 g / t Au a nd 1259 g / t Ag

Histor ic pr

  • duc tion fr
  • m the Roc he r

De boule Mine , Haze lton Cobalt- Coppe r

  • Gold Pr
  • je c t
slide-17
SLIDE 17

T HE HAZE L T ON COBAL T

  • COPPE

R-GOL D PROJE CT , BRI T I SH COL UMBI A

17

F

  • r

war d Plans

  • L
  • ng fo rd ha s a 60-da y pe rio d to c o mple te due dilig e nc e (b y 24 De c . 2017)
  • Co mpila tio n o f histo ric da ta a nd initia l te c hnic a l a sse ssme nt we ll a dva nc e d – re c o mme nda tio ns

e xpe c te d in c o ming we e ks

  • De te rmine a n a ppro pria te fo rwa rd wo rk pro g ra m

Ac quisition T e r ms Right to e ar n an initial 60% inte r e st:

  • 1. Ha ve pa id C$10k c a sh fo r e xc lusivity
  • 2. C$10k c a sh a nd 50,000 L

F R sha re s pa ya b le b y 24 De c e mb e r

  • 3. Spe nd C$2millio n “in the g ro und” o ve r 4 ye a rs:

(i) >C$100k in Ye a r 1 (ii) >C$200k (c umula tive ) in first 2 ye a rs

  • 4. C$10k c a sh a nd 50,000 L

F R sha re s e ve ry ye a r to ma inta in the o ptio n until C$2m spe nt

Onc e 60% inte r e st e ar ne d:

  • E

sta b lish a JV a nd c o ntrib ute pro -ra ta

  • I

f Ame ric a n Ma ng a ne se I nc . do e sn’ t c o ntrib ute , will b e dilute d b y 1.0% fo r e ve ry C$100k L F R spe nds

  • I

f <5%, AmMa ng ’ s inte re st c o nve rts to a 2.0% NSR ro ya lty

slide-18
SLIDE 18

T HE K E E L ZI NC PROJE CT , I RE L AND – HI GHL I GHT S

  • 1. Re fe r to ASX a nno unc e me nt da te d 07/ 03/ 2017 fo r furthe r info rma tio n re g a rding the Mine ra l Re so urc e e stima te .

18

  • T

wo g ra nte d pro spe c ting lic e nc e s c o ve ring 66km 2

  • f lo w use fa rmla nd
  • T

hre e pre vio us e xplo re rs: Rio T into (35 ye a rs), Bo lide n, a nd L undin Mining

  • T

a rg e ting hig h g ra de zinc , le a d, silve r mine ra lisa tio n; po te ntia l b a rite b y-pro duc t

  • 268 drill ho le s re turning +250 Zinc a ssa ys >2% Zn
  • Pro duc tio n sc a le infra struc ture – 5m x 175m

pro duc tio n sha ft with 3 ma in drive s, no prio r pro duc tio n

  • I

nfe rre d Mine ra l Re so urc e 1: 6.9 Mt @ 5.6% Zn and

0.8% Pb

  • I

nitia l re so urc e sitting within la rg e mine ra lisa tio n syste m with e xc e lle nt po te ntia l to a dd to nne s with mo de rn e xplo ra tio n

  • Ope ra ting Na va n zinc -le a d mine ~ 90km b y ro a d
slide-19
SLIDE 19

L

  • ng se c tion of the r

e sour c e bloc k mode l, with bloc ks c olour e d by Zn gr ade and loc ation of c ur r e nt diamond dr ill hole s illustr ate d in white

K E E L ZI NC PROJE CT – CURRE NT E XPL ORAT I ON PROGRAM

19

  • 12 ho le , 3,472m dia mo nd c o re

drilling pro g ra m c o mple te d e a rly Oc to b e r 2017

  • Assa ys fo r 7 ho le s re po rte d to

da te

  • Be tte r re sults inc lude :
  • 6.8m @ 11.4% Zn, 0.3% Pb and

40.7 g/ t Ag fr

  • m 141.2m
  • 4.5m @ 17.97% Zn, 0.3% Pb

and 58.5 g/ t Ag fr

  • m 145.5m
  • 4.0m @ 14.7% Zn, 0.1% Pb and

43.6 g/ t Ag fr

  • m 212.0m
  • 4.0m @ 11.6% Zn, 0.7% Pb and

17.0 g/ t Ag fr

  • m 172.0m
  • 3.0m @ 11.8% Zn, 0.7% Pb and

33.0 g/ t Ag fr

  • m 171.0m
  • Gra vity surve y c o mple te d in July

2017

  • Assa y re sults pe nding fo r fina l 5

drill ho le s – a ntic ipa te d De c e mb e r 2017

slide-20
SLIDE 20

F ORWARD WORK PROGRAM

20

2017 2018 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Colson Copper‐Cobalt Project, Idaho Soil Sampling Assay Results from Soil Sampling Mapping and Sampling Underground Workings Assay Results from Underground Sampling Program Drilling Assay Results from Initial Drilling Program Goodsprings Cobalt‐Copper Project, Nevada Reconnaissance Visit with Consulting Geologist Project‐Wide Soil Sampling and Mapping Assay Results from Soil Sampling Ground Geophysics Drilling Assay Results from Initial Drilling Program Hazelton Cobalt‐Copper‐Gold Project, British Columbia Compilation of Historic Data Initial Assessment of Technical Data and Recommendations For Further Work Implement Appropriate Program of Field Work Keel Zinc Project, Ireland Receipt of Assay Results from Final 5 Drill Holes Decision on Appropriate Further Work Program

slide-21
SLIDE 21

F

  • r

war d L

  • oking State me nts

T his re po rt c o nta ins c e rta in sta te me nts, whic h ma y c o nstitute “fo rwa rd lo o king sta te me nts”. Suc h sta te me nts a re

  • nly

pre dic tio ns a nd a re sub je c t to inhe re nt risks a nd unc e rta intie s, whic h c o uld c a use a c tua l va lue s, re sults a nd pe rfo rma nc e a c hie ve me nts to diffe r ma te ria lly fro m tho se e xpre sse d, implie d o r pro je c te d in a ny fo rwa rd -lo o king sta te me nts. E xplo ra tio n ta rg e ts, if a ny, se t o ut in this re po rt a re c o nc e ptua l in na ture a s the re is c urre ntly insuffic ie nt info rma tio n to de fine a Mine ra l Re so urc e a nd it is unc e rta in if furthe r e xplo ra tio n will re sult in the de te rmina tio n o f a Mine ra l Re so urc e a nd po te ntia l q ua ntity a nd g ra de is c o nc e ptua l in na ture . I nfo rma tio n a nd pric e s o n c o mmo ditie s pro vide d he re in is fo r the g e ne ra l info rma tio n o nly a nd sho uld no t b e re lie d upo n fo r a ny p urpo se . Re a de rs sho uld ma ke the ir o wn e nq uirie s a s re g a rds the c o mmo ditie s disc usse d he re in a nd b e a wa re tha t the ma rke t fo r c o mmo ditie s a nd pric e s o f tho se c o mmo ditie s will c ha ng e o ve rtime .

Compe te nt Pe r son State me nt

T he info rma tio n in this re po rt tha t re la te s to E xplo ra tio n Re sults fro m the K e e l Zinc Pro je c t is b a se d o n info rma tio n c o mpile d b y Mr Cha rle s Guy a dire c to r o f the Co mpa ny, a nd fa irly re pre se nts this info rma tio n. Mr Guy is a Me mb e r o f T he Austra lia n I nstitute o f Ge o sc ie ntists. Mr Guy ha s suffic ie nt e xpe rie nc e whic h is re le va nt to style

  • f mine ra lisa tio n a nd type
  • f de po sit unde r

c o nside ra tio n a nd to the a c tivity b e ing unde rta ke n, to q ua lify a s a Co mpe te nt Pe rso n a s de fine d in the 2012 E ditio n o f the Jo int Ore Re se rve s Co mmitte e (JORC) Austra la sia n Co de fo r Re po rting o f E xplo ra tio n Re sults, Mine ra l Re so urc e s a nd Ore Re se rve s. Mr Cha rle s Guy c o nse nts to the inc lusio n in the re po rt o f the ma tte rs b a se d o n his info rma tio n in the fo rm a nd c o nte xt in whic h it a ppe a rs. Mr Guy, a dire c to r, c urre ntly ho lds se c uritie s in the Co mpa ny. T he info rma tio n in this a nno unc e me nt tha t re la te s to e xplo ra tio n re sults fo r the Co lso n, Go o dspring s a nd Ha ze lto n Pro je c ts is b a se d o n info rma tio n c o mpile d b y Mr Be n Va lle rine , who is a c o nsulta nt to the Co mpa ny. Mr Va lle rine is a Me mb e r o f the Austra lia n I nstitute o f Ge o sc ie ntists. Mr Va lle rine ha s suffic ie nt e xpe rie nc e whic h is re le va nt to the style o f mine ra lisa tio n a nd type o f de po sit unde r c o nside ra tio n a nd the a c tivity he is unde rta king to q ua lify a s a Co mpe te nt Pe rso n a s de fine d in the 2012 E ditio n o f the Austra la sia n Co de fo r Re po rting o f E xplo ra tio n Re sults (JORC Co de ). Mr Va lle rine c o nse nts to the inc lusio n in the re po rt o f the ma tte rs b a se d o n the info rma tio n in the fo rm a nd c o nte xt in whic h it a ppe a rs.

DI SCL AI ME R

21

slide-22
SLIDE 22

APPE NDI X 1 - COMME RCI AL T E RMS T O ACQUI RE 100% OF T HE SAL MON CANYON COPPE R DE POSI T , I DAHO

22

Timeline Cash Shares*

  • 1. 31 October 2017

US$150k US$250k

  • 2. 30 April 2018

US$150k US$250k

  • 3. 31 August 2018

US$275k US$300k

  • 4. 31 December 2018

US$300k US$550k

* T he numb e r o f sha re s is b a se d o n the 10-da y VWAP imme dia te ly prio r to e a c h sha re issue T he ve ndo rs will no t re ta in a ny ro ya lty inte re st in the Sa lmo n Ca nyo n De po sit.

Ge ne r al stor e (now c lose d) at Shoup, 15km fr

  • m the Colson Coppe r
  • Cobalt Pr
  • je c t

E ntr anc e to the histor ic Blac kbir d Cobalt Mine and e Cobalt’s Ram De posit (unde r de ve lopme nt)

PAID

slide-23
SLIDE 23
  • 12 mo nth o ptio n to a c q uire a n 80% inte re st
  • $200K

a nd 20M L

  • ng fo rd sha re s pa id upo n c o mple tio n o f DD (PAID – MARCH 2017)
  • A$1M a nd 120M L
  • ng fo rd sha re s pa ya b le upo n e xe rc ise o f o ptio n (DUE

– MARCH 2018)

  • Mile sto ne 1: A$3M in c a sh o r sha re s (L
  • ng fo rd’ s e le c tio n) upo n c o mple tio n o f a po sitive PF

S

  • Mile sto ne 2: A$3M in c a sh o r sha re s (L
  • ng fo rd’ s e le c tio n) upo n JORC re so urc e >10Mt @ 7% Zn e q . OR

c o mple tio n o f a po sitive BF S

  • Minimum spe nd o f $1M o n e xplo ra tio n during o ptio n pe rio d a nd $5m o ve r 10 ye a rs if e xe rc ise d

APPE NDI X 2 - K E E L ZI NC PROJE CT – ACQUI SI T I ON T E RMS

23 High gr ade zinc inte r se c tions in dr illing at the Ke e l Zinc Pr

  • je c t