LEADING EXPLORATION IN JAMES BAY EASTMAIN RESOURCES INC. ER:TSX - - PowerPoint PPT Presentation

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LEADING EXPLORATION IN JAMES BAY EASTMAIN RESOURCES INC. ER:TSX CORPORATE PRESENTATION | EUROPEAN GOLD FORUM APRIL 2017 FORWARD LOOKING STATEMENTS Certain information set forth in this presentation may contain forward-looking statements that

SLIDE 1

LEADING EXPLORATION IN JAMES BAY

EASTMAIN RESOURCES INC. ER:TSX

CORPORATE PRESENTATION | EUROPEAN GOLD FORUM APRIL 2017

SLIDE 2

FORWARD LOOKING STATEMENTS

Certain information set forth in this presentation may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or timing of future plans, and include, but not limited to, statements with respect to any potential director nominations, actions taken in respect

f director nominations received by Eastmain, actual results of current and future exploration activities at the

Company's properties, and the potential success of the Company’s future exploration and development

strategies. These forward-looking statements are subject to numerous risks and uncertainties, certain of which

are beyond the control of Eastmain, including, but not limited to he results of matters to be considered at the upcoming annual and special meeting of shareholders of Eastmain, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing, timely completion of proposed studies and technical reports, and risks associated with the exploration, development and mining industry generally such as economic factors as they affect exploration, future commodity prices, changes in interest rates, safety and security, political, social or economic developments, environmental risks, insurance risks, capital expenditures, operating or technical difficulties in connection with development activities, personnel relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of Mineral Resources, contests over property title, and changes in project parameters as plans continue to be refined. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update such information, except as may be required by law.

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 2

SLIDE 3

EASTMAIN RESOURCES

3 KEY PROJECTS WITH RESOURCE GROWTH POTENTIAL

CLEARWATER PROJECT

Open-pit and underground potential at Eau Claire

EASTMAIN MINE PROJECT

A past-producer with historic resources, growth potential and a new discovery

ÉLÉONORE SOUTH JV

4 km x 0.5 km prospective mineralized corridor

AGGRESSIVE EXPLORATION

5 active rigs Completing 75 km drilling program

TOP LAND POSITION

1,320 sq km of prospective land Ready infrastructure Strategically staked claims Archean greenstone belt

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 3

MOST ACTIVE JUNIOR IN JAMES BAY GOLD CAMP, QUEBEC

SLIDE 4

CASH & MARKETABLE SECURITIES (March 28, 2017)

C$9.1 M

EASTMAIN FOCUS

SYSTEMATICALLY ADVANCING KEY ASSETS

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 4

Clearwater: Eau Claire Deposit mineral resource update - mid-year Clearwater: Eau Claire Deposit Preliminary Economic Assessment - year-end

BUDGET TO MID-2017 (INCL. G&A)

C$1.6 M

Eastmain Mine Project mineral resource update - year-end

SLIDE 5

TOP SHAREHOLDERS Polygon 17.1 million 9.7% Goldcorp 10.5 million 6.0% Integra Gold 8.9 million 5.1% RBC Asset Management 7.7 million 4.4% Van Eck 7.5 million 4.3% Gabelli & Company 3.6 million 2.0% Konwave Gold 2000 2.8 million 1.7% Don Robinson 2.7 million 1.6% Mackenzie Investments 2.6 million 1.5% Caisse du Depot (Sodémex) 2.6 million 1.5% US Global 2.0 million 1.1% Industrial Alliance Inv Mgmt 1.5 million 0.9% AGF 1.6 million 0.9% Commodity Discovery Fund 1.5 million 0.9% Sentry 1.3 million 0.7%

EASTMAIN SHAREHOLDERS

TSX:ER – 37% INSTITUTIONALLY HELD, 2% INSIDERS (SINCE APRIL 2015)

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 5

CAPITAL STRUCTURE Shares outstanding 175,429,814 Options (W Avg Life – 5.4 yrs, $0.69) 9,188,605 Warrants (expiry 11/10/18 , $0.50) 6,899,999 Fully-Diluted 193,133,417 Market Capitalization (20-day VWAP) $93 million Share Price (20-day VWAP) $0.53 52 Week High/Low $0.97 - $0.29 Daily Average Volume (20-day avg) 670,641 ANALYST COVERAGE Beacon Securities Mike Bandrowski Cormark Securities Tyron Breytenbach Echelon Wealth Ryan Walker GMP Securities Ingrid Rico Laurentian Securities Barry Allan/Ryan Hanley Mackie Research Capital Macquarie Capital Michael Gray Paradigm Capital Don Blyth

SLIDE 6

BOARD AND MANAGEMENT

STRENGTH IN ENGINEERING, GEOLOGY & CAPITAL MARKETS

Claude Lemasson President & CEO and Director Laurence (Laurie) Curtis Chairman Michael Hoffman Mine Engineer & Executive Blair Schultz Capital markets experience WELL-ESTABLISHED BOARD OF DIRECTORS Timo Jauristo Geologist, ex-Goldcorp Corp Dev Exec Stephen De Jong Integra President & CEO George Salamis Integra Chairman INTEGRA TECHNICAL ADVISORS Previous experience with Management, the Éléonore Project (Goldcorp), & in the James Bay region Hervé Thiboutot, Geological Engineer Integra Senior VP Jacques Simoneau, P.Geo. Integra Exploration Manager Claude Lemasson, P.Eng, MBA President & CEO

Highly-skilled mining professional
30 yrs of mine dev’t & operational experience
Direct experience with Goldcorp’s Éléonore

project in northern Québec Joe Fazzini, CPA, CFA, CA CFO & VP Corporate Development

10+ yrs advising and auditing global gold and

base metal producers through PwC & Dundee Capital Markets. Alison Dwoskin, CPIR Manager, Investor Relations

10+ yrs in mining Investor Relations

MANAGEMENT TEAM Bill McGuinty, P.Geo VP Exploration

30 yrs experience in Canada and Latin

America, from exploration to environmental and feasibility studies Manuel Ng-Lai, P.Eng Project Engineer

10+ yrs in the technical services sector

Carl Corriveau, P.Geo, SEG Exploration Manager

15+ yrs industry experience, including

project management and evaluation, advancing projects from exploration through economic studies

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 6

SLIDE 7

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 7

$152 $107 $88 $82 $80 $72 $66 $60 $50 $40 $39 $37 $0 $20 $40 $60 $80 $100 $120 $140 $160 EV PER OUNCE (C$/OZ)

VALUE OPPORTUNITY VS PEERS – EV/OZ

44% GROWTH TO MATCH PEER AVERAGE

AVERAGE $73 PER EV/OZ

Data compiled by Laurentian Securities based on most recent company financial reports, April 4, 2017. *Eastmain data Includes Clearwater MI&I mineral resources (June 2015) and Eastmain Mine historic resources (255,000 oz @ 10 g/t Au).

SLIDE 8

CENTRAL JAMES BAY GOLD CAMP

CANADA’S EMERGING GOLD DISTRICT Production

The Canadian Shield has produced over 200 million

unces of gold

Life Cycle

James Bay is one of the youngest camps in the Canadian shield

Exploration

Potential for many more discoveries as exploration advances

Development

Rapidly improved infrastructure to speed up pace of exploration

1. The production and reserve figure for James Bay Central Camp includes Eastmain’s resources as there are currently no reserves. 2. The Eastmain mine extracted 40,000 ounces in 1995. 3. Casa Berardi and

Chibougamau are located in Southern James Bay Source: Company reports, government studies, and academic journals. Compiled in 2016.

Central James Bay Rice Lake Casa Berardi Detour Hemlo Chibougamau Red Lake Rouyn-Noranda Val D’or Kirkland Lake Timmins 7 2 3 23 21 7 28 20 30 45 74

Production & Reserves (Millions of Ounces) First Gold Pour (Year)

2014 2005 1988 1983 1981 1952 1930 1927 1923 1915 1909

District

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 8

SLIDE 9

HIGH QUALITY ASSETS - AN EMERGING GOLD CAMP

SUPERIOR INFRASTRUCTURE

Note: Clearwater is accessible via a commercial airport at Nemaska, located 80 kms south

f the project. Route 167 Nord has been constructed from Temiscamie north to the Renard

Project, providing permanent road access to the Eastmain Mine project.

Ruby Hill Lac Lessard

Eastmain Mine

Route 167 Nord All-season road

Clearwater

Lac Hudson Reservoir Lidge Lac Elmer Radisson

Eléonore South JV

JAMES BAY, QUEBEC

50KM

Eastmain

James Bay

Mistissini Temiscamie Éléonore Mine Goldcorp Renard Mine Stornoway Troilus Mine Copper One Wemindji Waskaganish Chisasibi Nemaska Radisson

Lac Clarkie

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 9

Total property portfolio - 132,088 hectares

SLIDE 10

CLEARWATER - DISTRICT POTENTIAL: 50,000 HECTARES

63,300 M – 2016-1H2017 DRILLING PROGRAM

⎻ Archean greenstone belt setting - with potential for significant discoveries ⎻ Targeting drill-ready open pit potential w/in 15 km of the Eau Claire Deposit ⎻ 2016-1H2017 drilling: 55,700 m at Eau Claire, 7,600 m additional targets ⎻ Lac Clarkie: geophysics to identify priority drilling targets ⎻ Eau Claire-style mineralization extends for +20 km along the deformation zone ⎻ Eleonore-style mineralization in the Clarkie sedimentary basin

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 10 5,790,000N 5,800,000N 480,000E 5,780,000N 460,000E 470,000E 5,790,000N 450,000E 5,800,000N 5,780,000N

V3B Mafic Volcanic Rock S Volcanoclastic Sediment S4 Polymictic Conglomerate V1 Felsic Volcanic Rock S9 Iron Formation Area Outline VQ, VTL, VQTL Quartz +/- Tourmaline Vein, QFP Quartz Feldspar Porphyry M8 Schist / Alteration Zone >50% I3B, I4B Diabase, Pyroxenite Hydrology (rivers and lakes) Claim Block

Geology

I2 Diorite I1D Tonalite

Other Symbols

5 2.5

SLIDE 11

TESTING THE O/P AND SHALLOW U/G POTENTIAL

EAU CLAIRE DRILLING PROGRAM - 55,700 m

2016 TO MID-2017 EXPLORATION BUDGET:

$8.8 million

EAU CLAIRE DRILLING PROGRAM OBJECTIVES

4 drill rigs

Expand understanding of the mineralizing controls

Confirm current geological interpretation; test limits of the mineralized envelope

Improve drill spacing (~ 25 m) to show continuity between veins and increase overall confidence in the deposit

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 11

92% DRILLED

EAU CLAIRE DEPOSIT OVERVIEW: LOOKING NW 450 West Zone Outcrop on Hilltop OPEN PIT POTENTIAL

SLIDE 12

2015 EAU CLAIRE: MINERAL RESOURCE ESTIMATE 1 (see slide 15 for note) Measured & Indicated: 951,000 oz @ 4.09 g/t Au - 7,225,000 tonnes Total Inferred: 633,000 oz @ 3.88 g/t Au – 5,072,000 tonnes

DRILLING FOR A STRONG FOUNDATION

EAU CLAIRE MINERAL RESOURCE OPPORTUNITY

77%

More drilling data in next mineral resource update mid-2017

13,000 m - drilling from late 2015 (shown below) 63,300 m - in progress - 2016 and 1H2017

Note: 5,000 metres drilled in 2014 at the Clovis Lake target, Clearwater Project Approximate mineral resource outline, on Eau Claire deposit overview image.

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 12

2015 Global Mineral Resource Model: Longitudinal View Facing North

CONCEPTUAL

300 m

2015 Definition drilling intersected multiple high-grade gold intervals laterally and down- plunge of the current Measured & Indicated resource. The deposit is open laterally to the east and down plunge to the southeast and

southwest. Based
n SRK June 11,

2015 mineral resource, “Technical Report for the Eau Claire Gold Deposit, Clearwater Project, Quebec”.

1,500 m

SLIDE 13

EAU CLAIRE: POSITIVE DRILLING RESULTS

CONFIRMING THE DEPOSIT AND EXTENDING MINERALIZATION

Drilling is pushing the boundaries of the resource envelope
Deposit remains open at depth and to the east
ER16-584 - 11.5 g/t Au over 13.5 m, incl. 21.3 g/t Au over 5 m (Oct 24, 16)
79.7 g/t Au over 0.5 m
ER16-662
17.0 g/t Au over 7.1 m, incl. 54.6 g/t Au over 0.7 m (Feb 7, 17)
ER17-674
8.31 g/t Au over 13.3 m, incl. 11.4 g/t Au over 8.8 m (Mar 6, 17)

DRILLING PROGRAM Reported Results: 35,200 m Total Completed: 51,178 m Total Planned : 55,700 m

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 13

Eau Claire 2015 Mineral Resource (M&I) Grade Thickness Long Section

Drill Hole Pierce Points 2016-1H2017

SLIDE 14

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 14

WIDE HIGH-GRADE SCHIST VEINS

HGS-02 AND HGS-04 VEINS

New view on high grade schist veins w/ broader intercepts and higher grades than the main EW-

trending veins – Eau Claire drilling targeting the schist veins

Schists are extensively altered, trend ESE within sheared corridors of gold-bearing metavolcanic rock

HGS-04 ➤ 650 m strike x 310 m dip HGS-02 ➤ 350 m strike x 339 m of dip

SLIDE 15

SNAKE LAKE: GROWTH POTENTIAL NEARBY

DRILLING IDENTIFIES TWO-STYLES OF GOLD MINERALIZATION NEAR EAU CLAIRE

DRILLING PROGRAM Reported Results: 3,785 m Total Completed: 4,512 m

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 15

S H A L L O W 800 m x 200 m

mineralized corridor 2 Types of Mineralization: 1) Sulphide-rich gold zone 2) Quartz-tourmaline gold mineralization

Similar to the Eau Claire

deposit, w/in 2km ADDITIONAL 3,100 M DRILLING

Testing open pit targets along

the Clearwater Deformation Zone

ER16-592 ER16-596 ER16-604 ER16-626

ER16-592 - 12.2 g/t Au over 1.5 m (Oct 24, 16) ER16-604 - 11.3 g/t Au over 1.15 m (Jan 4, 17) ER16-596 - 6.38 g/t Au over 1.0 m (Dec 1, 16) ER16-626 - 8.86 g/t Au over 0.7 m (Feb 7, 17)

SLIDE 16

DISTRICT-SCALE POTENTIAL – FOCUS ON EAU CLAIRE

EXPLORING THE CLEARWATER PROPERTY

PROPERTY 51,614 hectares 30 person camp incl. full-kitchen, core-shack and cabins Hydro-power (20 kms away), road and nearby airports James Bay gold district greenstone belt, volcanics 100% ownership

Note 1. Technical Report for the Eau Claire Deposit, Clearwater Project by SRK Consulting (June 2015) filed

n SEDAR.

UPCOMING CATALYSTS Drilling results (2Q 2017) Mineral resource update (MID-2017) Planning 2H 2017 growth focus drill program Preliminary Economic Assessment (END OF 2017)

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 16

Piano key breccia Clearwater’s 30-man camp

SLIDE 17

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 17

EASTMAIN MINE PROJECT

TWO-PART OPPORTUNITY

1) Past-Production

Historic production and

historic resources

New road significantly

improves accessibility, as well as the costs of exploration and potential future development and

perations

2) Potential Growth

10 km mine trend, with

indications mineralization continues

Discovery 3 km from the

historic mine

SLIDE 18

EASTMAIN MINE PAST PRODUCTION

ROADWAY IMPROVES ACCESSBILITY AND INFRASTRUCTURE

Otish Park Eastmain Mine Camp looking NW along mine trend to surface targets Route 167 Road, part of Plan Nord Eastmain Mine

All-season road built in 2014 by Quebec gov’t and Stornoway

Stornoway Renard MIne EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 18

HISTORIC MINING & RESOURCE MINED: 40,000 ozs at 10.58 g/t Au (1995) RESOURCE1: 255,750 oz of 10 g/t Au in 878,000 tonnes (A&B and C Zones) (1999) $40M invested by previous owners on exploration & development

Note 1. The Eastmain Mine (past-producing) Historical Resources is not NI 43-101

compliant. A

Qualified Person has not done sufficient work to classify them as mineral resources. The issuer is not treating these historical resources as current mineral resources and these resources should not be relied on.

SLIDE 19

DISCOVERY ALONG THE 10 KM MINE TREND

EXPLORATION OPPORTUNITY TO BUILD CRITICAL MASS

2016 exploration tested the 10 km mine trend
Trenching and drilling confirmed shallow mineralization w/in 3 km of the mine:

– Top priority targets: Hillhouse, Suzanna, and Julien targets – Julien Discovery is parallel to the mine trend

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 19

DISCOVERY

EM16-76 42.4 g/t Au, 30.2 g/t Ag and 0.53% Cu over 10.5 m

100 m

JULIEN CROSS SECTION

Historic Resource to NI 43-101 Report expected year-end 2017

Mine trend, intercepted downhole

SLIDE 20

EASTMAIN MINE HISTORIC OPPORTUNITY

PRODUCTION (1995) & RESOURCES (1999)

PROPERTY - 8,014 hectares Permanent all-weather road, onsite airstrip, generator-power 50 person-camp incl. full-kitchen, core shack and cabins James Bay gold district greenstone belt (volcanics) 100% ownership UPCOMING CATALYSTS IP survey and follow-up drilling (2Q 2017) Planning 2H 2017 exploration program Historic resource conversion to NI43-101 report

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 20

Road to Eastmain 50-Man Camp

SLIDE 21

ÉLÉONORE SOUTH JV PROPERTY

INDICATIVE GEOCHEMISTRY – CONTIGUOUS TO ELEONORE MINE PROPERTY

Property size: 147 sq km JOINT VENTURE PARTNERS:

Eastmain (36.7%)
Goldcorp (36.7%)
Azimut (26.6% - Operator: 2016 – 1H2017)

GOLDCORP’S ELEONORE MINE:

Sedimentary-hosted gold deposit
>7 M MI&I ounces
2017 gold production forecast: 315,000 oz

($985/oz AISC) MONI PROSPECT:

3-4 km long x 0.5 km wide corridor
All 10 drill holes from Phase 1 intercepted

mineralization

Located within the Prospect Corridor:

Extends from JT Prospect east to Cheechoo discovery, over Moni Prospect (July 2016) FD PROSPECT

New FD Prospect down trend from Goldcorp’s

Eleonore gold mine, 4.5 km north of JT Prospect (July 2016)

2016-1H2017 Drilling Program

$2 million - JV Budget $0.74 million (Eastmain portion)

Goldcorp’s Eleonore Property Eleonore South JV Property

FD Prospect EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 21

SLIDE 22 76°W 52°37'30"N 52°37'30"N 435,000 440,000 5,825,000 5,825,000 5,830,000 5,830,000 5,8 5,8 500 1,000 1,500 meters 1:50,000 UTM zone 18 projection - NAD83 ELEONORE SOUTH PROPERTY Soil geochemistry - Arsenic (As) Date: 2016-05-11 100% 99% 96% - 98% 91% - 95% 86% - 90% 81% - 85% 71% - 80% 61% - 70% 51% - 60% 1% - 50% 71.82 - 929.35 50.27 - 71.81 29.23 - 50.27 19.25 - 29.23 14.84 - 19.25 12.14 - 14.84 8.85 - 12.14 6.76 - 8.85 5.19 - 6.76 0 - 5.19 As (ppm) | Percentiles 76°W 435,000 440,000

ÉLÉONORE SOUTH JV DRILLING

DRILL RESULTS IN PROSPECTIVE CORRIDOR SUPPORT GEOCHEMICAL SIGNATURE

2016 – early 2017 Drilling Program: Phase 1 - 2,500 m drilling (12 holes) COMPLETE All 10 holes drilled in the prospective corridor (4 km x 0.5 km) were mineralized Phase 2 - 2,500 m – drilling underway

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 22

SLIDE 23

THE WAY FORWARD: AGGRESSIVE EXPLORATION

75,000 METERS IN 2016-1H2017, PLANNING 2H2017 PROGRAMS

3Q16 4Q16 1Q17 2Q17 3Q17

Complete comprehensive drill campaign (63,000m) Updated mineral resource estimate Perform other technical optimization work Optimize and complete PEA and study work

CLEARWATER PROJECT EASTMAIN MINE PROJECT ÉLÉONORE SOUTH JV

Trenching Drilling (7,500m) Drilling (5,000m) Sampling

PRIORITIES (Calendar Year)

2017 Program 2017 Program 2017 Program

4Q17

TODAY

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 23

IP Survey Drilling Historic to NI43-101 mineral resource conversion

SLIDE 24

FOR MORE INFORMATION

Claude Lemasson P.Eng., MBA President & CEO

lemasson@eastmain.com

Alison Dwoskin CPIR Manager, Investor Relations

dwoskin@eastmain.com

Office: 647-347-3735

www.eastmain.com TSX:ER

EASTMAIN INVESTOR PRESENTATION ER:TSX www.Eastmain.com 24