PRODUCTION, EXPLORATION, OPTIONALITY GROWTH THROUGH PARTNERSHIPS - PowerPoint PPT Presentation

PRODUCTION, EXPLORATION, OPTIONALITY GROWTH THROUGH PARTNERSHIPS Presentation – June 2017

FORWARD-LOOKING STATEMENTS Some statements in this presentation contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the Company's plans for exploration and development of the Brazil properties and potential mineralization. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward- looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. The Company cautions that it has not completed any feasibility studies on any of BMC's mineral properties, and no mineral reserve estimate has been established. Because the Company production decision is not based upon a feasibility study of mineral reserves, the economic and technical viability of the property has not been established. The potential quantity and grade of resource targets are conceptual in nature. There has been insufficient exploration to define a primary vein mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. QUALIFIED PERSON The technical information about the Company's mining activities has been prepared under the supervision of and verified by Dr. Adrian McArthur (B.Sc. Hons, PhD. FAusIMM), a consultant to Meridian Mining, who is a "qualified person" within the meaning of National Instrument 43-101. The technical information about the Company’s production and sales activities has been prepared under the supervision of and verified by Carlos Braga (B.Sc., MBA, member of the Chilean Mining Commission), the Chief Operating Officer of Meridian Mining, who is a “qualified person” within the meaning of National Instrument 43-101. 2

PROVEN STRATEGY BUILDS FOUNDATION FOR SUCCESS High-purity manganese operation Ore being sold to established customer base at a premium Promising gold prospects Trenching in progress Preparing for maiden drill campaign Bom Futuro Joint Venture provides entry into Brazil’s second largest tin mine Discovering & Developing Investment Opportunities - Partnering for Growth

PREMIUM MANGANESE PRODUCER World’s highest grade hydrothermal manganese production Niche markets: Batteries and Agriculture Brazilian and international customer base Meridian production has grown from 8,000 to 35,000tpa in 3 years Production capacity building to 100ktpa Continual growth in output and capacity 4

UPGRADING INFRASTRUCTURE TO INCREASE MANGANESE PRODUCTION 70 kt/a upgrade to Jaburi Plant, 2017 Rio Madeira plant to be upgraded to 30 kt/a in 2018 Jaburi production resumes Q3 2017 Continual growth in output and capacity

PREMIUM PRODUCT PREMIUM PRICE 9.00 8.00 Benchmark 44%Mn CIF China US$/dmtu Meridian Net Sales unit price CIF Customer US$/dmtu 7.00 6.00 5.00 4.00 3.00 2.00 1.00 4.12 3.50 8.20 5.48 3.78 3.03 2.48 2.43 3.02 0.00 Q12015 Q22015 Q32015 Q42015 Q12016 Q22015 Q32016 Q42016 Q12017 Premium product supporting a premium price

BUSINESS FUNDAMENTALS IN PLACE TO ATTRACT A STRATEGIC PARTNER Extensive land package Installing new 70,000 tpa plant Well established local operation Diverse customer base Proven business, strong customer base, expanding production capacity

GOLD – EXCITING GROWTH OPPORTUNITY Newly discovered gold system at Espigão Do Oeste Amazon Craton address; home to major Moz gold camps An initial program of 18 trenches spanning 2,000m has commenced to evaluate the anomalies and will continue into Q3 Coice de Cobra gold targets prioritized for testing are distributed over 4 square km Maiden trenching and drilling campaign commencing

GOLD – EXCITING GROWTH OPPORTUNITY Six targets prioritized for first trenching campaign Sub-parallel structures; individual veins 3m wide, with broader alteration halos Visible gold occurrences; rock chips to 9.8g/t Au Broader geochemical anomalies extend for 7km along strike; two main centers identified in structurally favorable settings Drill rig on site to test targets at depth Extensive anomalies tested followed by first drill campaign

BOM FUTURO TIN JV: PRIMARY VEINS, PALEOCHANNELS AND TAILINGS Bom Futuro mine has produced over 192,000 tonnes of tin since 1987

BOM FUTURO TIN DEPOSIT – COMPARISION BY ENDOWMENT 1,000,000 Bom Futuro is the least explored of the Total Tin (t) major tin deposits Limited processing 100,000 technology deployed Opportunities to build resources through systematic palaeochannel 10,000 and bedrock drilling Bom Futuro ranks in the top 5 deposits by endowment 11

BOM FUTURO AERIAL VIEW FROM THE SOUTHWEST Palanqueta Hill Vein and greissen tin mineralization Bom Futuro Hill Vein and pegmatite tin mineralization 12

THE TIN MARKET - A GROWING OPPORTUNITY Tin Uses Top 5 Tin Producing Countries 2.0% 120000 4.8% Solders - Electronic 100000 5.2% Chemicals 7.0% 80000 Tinplate Tonnes Lead-Acid BaNeries 346,000 tonnes 43.5% 60000 7.3% Other consumed in 2015 Brass & Bronze 40000 Solders - Industrial 20000 14.7% Float Glass 0 China Indonesia Myanmar Peru Bolivia 15.5% 2010 2015 Source: ITRI Stable demand for tin with output dropping in key producing countries 13

IMPROVING TIN PRICING * 14.00 Average last 10 years: $40,000 $20,000 $35,000 12.00 $30,000 Forecast 10.00 Weeks’ Supply $25,000 USD/tonne 8.00 $20,000 6.00 $15,000 4.00 $10,000 2.00 $5,000 0.00 $- 1990 1995 2000 2005 2010 2015 2020 Weeks' Supply (tonnes) Price (USD) * Interna)onal Tin Research Ins)tute - November, 2016 Reduced stocks, lower production and high new mine costs driving recent pricing

TARGET STRIKE EXTENSION FOR REPEAT MINERALISATION Bom Futuro area Meridian area Underlying magnetic anomaly over mine 2 km 20km long NE extent projects on Meridian tenement applications Deposit model indicates potential for repeat mineralization (c.f. Erzgebirge/Krásno Ore District, Czech Republic: Worked between 1516 and 1991) Potential for repeat mineralization along strike (Historic district production 270,000 tonnes of tin Rondonia) 15

EXPLORATION TARGETING Numerous palaeochannel targets: • Extensions to known channel positions . • New targets from ground-penetrating radar surveys • Geophysical exploration ongoing • Self-managed rigs being equipped for deeper drill testing Excellent near-mine primary exploration opportunity • Magnetic-radiometric data reprocessed • Undercover extensions to intrusive corridor highlighted • Cross-cutting structures evident • Radiometric anomalies characteristic of prospective intrusions • Indications of cassiterite in drainage systems A significant mineral field with untested potential

MERIDIAN TAILINGS PROJECT TARGETS 10+ YEARS OF MINE LIFE An estimated 100m tonnes of tailings accumulated from 30+ years of artisanal mining Cooperative tailings operations have averaged 1,000tpa of tin production per annum since 2010 (from un-optimized plants; no metallurgical studies) First phase of Meridian testwork indicates a high percentage of tin is recoverable from the tailings with improved technology Target for early cash-flow Accelerating profitability through staged development

Cassiterite concentrate from palaeochannel SYNERGIES WITH PALAEOCHANNEL SYSTEMS • Rich gravel horizons: 4-5 Sn kg/m 3 • Broader low grade packages: 270 - 800 g/m 3 • Three channel trends worked to date Perched placer Tin mineralization deposits in base of modern • Expectations of further concealed positions in drainage sharply incised palaeotopography m 20 Concentrations at 10 base of 5 palaeochannel 0 10 20 40 60 80 100 m Accelerating profitability through staged development 18

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