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 FOR AGM APRIL 2017 FORWARD LOOKING STATEMENTS Certain information set forth in this presentation may contain forward-looking statements that involve

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LEADING EXPLORATION IN JAMES BAY

EASTMAIN RESOURCES INC. ER:TSX

CORPORATE PRESENTATION FOR AGM – 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

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

MANAGEMENT STRENGTH MOST ACTIVE JUNIOR IN JAMES BAY TOP LAND POSITION; DISTRICT POTENTIAL 3 KEY ASSETS Ø 1,320 sq km of properties Ø Archean greenstone belt Ø Significant infrastructure in an emerging gold camp Clearwater: Advancing Towards Development; Resource Update 3Q 2017, PEA 1Q 2018 Eastmain Mine: Historic resources 255,000 oz @ 10 g/t Au; New Julien Discovery Eleonore South JV: Targeted gold-system drilling; JV partners Goldcorp and Azimut Ø 2-7 active drill rigs Ø Completing the 2H2016 – 1H2017 drilling program Ø Recognized board and management team Ø Track record of exploration, development and production success

EASTMAIN RESOURCES

AGGRESSIVELY ADVANCING ASSETS IN JAMES BAY, QUEBEC

1 2 3

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

New management team and board of directors appointed

Established permanent corporate presence via Toronto head office

New vision and strategy outlined

Completed knowledge and asset transfer from previous management team

Established and improved corporate governance and affairs

Implemented streamlined cost structure

Raised $21.8 million through four private placements

Improved capital markets presence with research coverage from 8 brokers (previously 1 broker)

Significantly expanded institutional shareholder support

MAJOR CORPORATE ACCOMPLISHMENTS

MAY 2016 - APR 2017: TRANSITION COMPLETE, GROWTH FOCUS GOING FORWARD

SLIDE 5

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

Re-established relationships with Aboriginal community in James Bay

Re-established relationships with the Quebec Government’s departments, including Plan Nord

Initiated intensive exploration programs on 3 projects

Completed aggressive 75,000 m company-wide drilling program

63,000 m at Clearwater (resource definition and exploration drilling)

7,500 m at Eastmain Mine Project (discovery made)

5,000 m at Eléonore South JV (revitalized joint venture exploring large mineralized corridor)

Upgraded main Clearwater camp to support increasing exploration programs and a future development scenario

MAJOR QUEBEC-FOCUSED ACCOMPLISHMENTS

MAY 2016 - APR 2017: TRANSITION COMPLETE – GROWTH FOCUS GOING FORWARD

SLIDE 6

EASTMAIN CAPITAL STRUCTURE

TSX:ER, as at April 27

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

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) $83 million Share Price (20-day VWAP) $0.47 52 Week High/Low $0.97 - $0.38 Daily Avg Vol (20-day avg) 569,670

CASH & MARKETABLE SECURITIES (April 27, 2017)

C$7.2 M

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

C$2.4 M

ANALYST SUPPORT

ANALYST PT (CONS) : $1.04

Pending new analyst

SLIDE 7

BOARD AND MANAGEMENT

STRENGTH IN ENGINEERING, GEOLOGY & CAPITAL MARKETS

Laurence (Laurie) Curtis Chairman Michael Hoffman Mine Engineer & Executive Claude Lemasson President & CEO and Director WELL-ESTABLISHED BOARD OF DIRECTORS Blair Schultz Capital markets experience Hervé Thiboutot, Geological Engineer Integra Senior VP (Quebec) 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 7

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

$152 $107 $88 $82 $80 $72 $66 $60 $50 $40 $39 $37 20 40 60 80 100 120 140 160 EV PER OUNCE (C$/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 9

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

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 9

SLIDE 10

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 10

Total property portfolio - 132,088 hectares

SLIDE 11

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

THE DEVELOPMENT PATH

ACCELERATING THE MOMENTUM EXPLORATION ADVANCED EXPLORATION DEVELOPMENT PRODUCTION

Eléonore South JV Ø Exploration targeting a gold system prospective corridor next to world-class producing mine Ø JV Partners: Goldcorp and Azimut Eastmain Mine Project Ø High-grade gold, silver and copper Ø Historic resource conversion to NI 43-101 compliance - 4Q 2017 Ø Exploration along 10 km mine trend, with focus around the New Julien Discovery Clearwater’s Eau Claire Deposit Ø Updated mineral resource – 3Q 2017 Ø Baseline environmental studies - 2H 2017 Ø Growth-focused exploration around Eau Claire and surrounding satellite targets - 2H 2017 Ø PEA – 1Q 2018

SLIDE 12

CLEARWATER PROJECT - 51,614 HECTARES

SYSTEMATIC AND AGGRESSIVE EXPLORATION

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

Focus on developing the Eau Claire deposit & testing the surrounding district potential of Clearwater and Lac Clarkie
2016-2017: 63,000 m definition drilling at Eau Claire and exploration drilling at Snake Lake
2017-2018: growth-focused drilling
+20 km major structure (deformation zone) along southern border of the property

INFRASTRUCTURE: 30-person camp incl. full-kitchen, core-shack and cabins, hydro-power (20 kms away), road and nearby airports

100% ownership

SLIDE 13

TESTING EAU CLAIRE’S OPEN PIT AND U/G POTENTIAL

2H 2016 – 1H 2017 DRILLING PROGRAM - 55,700 m

2016 TO MID-2017 EXPLORATION SPEND:

$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 13

100% DRILLED; 70% REPORTED

EAU CLAIRE DRILLING PROGRAM ADVANCES AS PLANNED

GRADE THICKNESS LONG SECTION (M&I) 2015 MINERAL RESOURCE ESTIMATE1 M&I – 951,000 oz – 4.1 g/t Au INF – 633,000 oz - 3.9 g/t Au

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

n SEDAR.

SLIDE 14

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

WIDE HIGH-GRADE SCHIST VEINS

HGS-02 AND HGS-04 VEINS

High grade schist veins w/ broader intercepts and higher grades than the main EW-trending veins –

Eau Claire drilling recently targeted 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 dip

SLIDE 15

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

EAU CLAIRE DEPOSIT - 450W ZONE

LONGITUDINAL VIEW – CURRENT MINERAL INTERPRETATION (USING WIRE FRAMES)

EAST-WEST MAIN VEINS HIGH-GRADE SCHIST VEINS Z X

SURFACE 560 m 1,100 m

SLIDE 16

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

EAU CLAIRE DEPOSIT - 450W ZONE

PLAN VIEW – CURRENT MINERAL INTERPRETATION (USING WIRE FRAMES)

EAST-WEST MAIN VEINS HIGH-GRADE SCHIST VEINS Y X

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

EAU CLAIRE DEPOSIT - 450W ZONE

DOWNDIP VIEW OF EAST-WEST MAIN VEINS (45o) CURRENT MINERAL INTERPRETATION (USING WIRE FRAMES)

EAST-WEST MAIN VEINS HIGH-GRADE SCHIST VEINS

SLIDE 18

SNAKE LAKE: GROWTH POTENTIAL NEARBY

DRILLING IDENTIFIED TWO-STYLES OF GOLD MINERALIZATION NEAR EAU CLAIRE

DRILLING PROGRAM Total Completed: 4,512 m

EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com 18

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, within 2km) ADDITIONAL DRILLING Ø Testing the Eau Claire extension towards Snake Lake

Current Exploration Focus

SLIDE 19

PROPERTY-WIDE POTENTIAL – FOCUS ON EAU CLAIRE

EXPLORING THE CLEARWATER PROPERTY

UPCOMING CATALYSTS Ongoing drilling results (2Q 2017) Mineral resource update (3Q 2017) Preliminary Economic Assessment (1Q 2018) Planning growth focus drill program (2H 2017)

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

Piano key breccia quartz-tourmaline main vein Clearwater’s 30-man camp

SLIDE 20

EASTMAIN MINE PROJECT

MINING (1995), RESOURCES CONFIRMED (1999 & 2004), NEW DISCOVERY (2017)

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

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

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 & 2004) $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.

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

Mine trend, intercepted downhole MINE TREND EXPLORATION FOCUS

SLIDE 21

EASTMAIN MINE PROJECT REVITALIZATION

INFRASTRUCTURE AND EXPLORATION UPSIDE UPCOMING CATALYSTS IP survey - 2Q 2017 Exploration program - 2H 2017 Historic resource conversion to NI43- 101 compliance - 2H 2017

EASTMAIN INVESTOR PRESENTATION ER:TSX www.eastmain.com 21

Road to Eastmain 50-Man Camp 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

Stornoway Renard MIne

SLIDE 22

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

gold mineralization

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 22

SLIDE 23 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

2H 2016 – 1H 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 - 2,800 m drilling (14 holes) – complete with assays pending

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

SLIDE 24

MOVING FORWARD TO 2018

75,000 METERS IN 2016 - 1H 2017, PLANNING 2H 2017 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 2017 Program 2017 Program 2017 Program

4Q17

TODAY

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

IP Survey Historic to NI43-101 mineral resource conversion FOCUS ON EASTMAIN TRANSFORMATION GROWTH FOCUS

SLIDE 25

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 25