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TSX-V: CNX I OTC: CLLXF A L e a d i n g Z i n c e x p l o r a t i - - PowerPoint PPT Presentation

TSX-V: CNX I OTC: CLLXF A L e a d i n g Z i n c e x p l o r a t i o n a n d D e v e l o p m e n t c o m p a n y 2 F O R WAR D L O O K I N G I N F O R M A T I O N Calline x Co rpo rate P r e se ntat i o n This presentation contains


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A L e a d i n g Z i n c e x p l o r a t i o n a n d D e v e l o p m e n t c o m p a n y

TSX-V: CNX I OTC: CLLXF

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SLIDE 2

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 JJ O’Donnell, P .Geo, a consultant to the Company, and a Qualifjed Person as defjned by National Instrument 43-101.

F O R WAR D L O O K I N G I N F O R M A T I O N

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Callinan Mines, founded by Jack Callinan in 1927, has had a major presence in the Flin Flon mining district in Manitoba, Canada 777 VMS Mine, discovered on Callinan claims, commences production and royalty payments begin Callinan Mines splits into two entities: Callinan Royalties and Callinex, which holds the exploration portfolio today Callinex renews exploration focus on zinc and copper-rich VMS deposits Callinex acquires a portfolio of zinc assets with zinc prices near fjve year lows Announces major expansion of the Nash Creek Deposit and maiden PEA

1927 2011

OUR HISTORY

2014 2016 2018 2004

To discover and develop base and precious metal rich deposits within established Canadian mining districts

OUR MISSION

FOCUSED ON BASE METAL DISTRICTS 3

C alli ne x Co rpo rate P r e se ntatio n TSX-V: CNX I OTC: CLLXF

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SLIDE 4

C o r p o r at e ov e rv i e w

59% 21% 20%

retail investors institutions insiders & close associates

capital structure enterprise value

  • wnership breakdown
  • Sprott Group
  • Delbrook Capital Advisors

Shares Outstanding

85.8M

Options Outstanding*

6.1M

($0.34 VWAP)

(Excludes 6.1M RSU’s with a 10 year vesting schedule)

Warrants Outstanding

4.0M

($0.75 VWAP)

Market Cap

$9.4M

Debt

$0

Cash

$2.9M

As of 12/31/2018

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SLIDE 5

recent trading share performance

Closing Price

(05/28/2019)

$0.065

52-Week Range

$0.065 - $0.255

Average Daily Volume (1 - mo)

52,809

TSX-V: CNX I OTCQX: CLLXF

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SLIDE 6

5 Year Correlation between Zinc Prices and LME Inventory Levels

Mar14 0.60 0.80 1.00 1.20

USD / lb Tons

1.40 1.60 1.80 900000 7000000 5000000 3000000 8000000 6000000 4000000 2000000 1000000 Jan16 Aug14 Jul16 Nov17 Feb15 Dec16 May18 Jul15 Jun17 Oct18

ZINC PRICES LME STOCK LEVELS

ACQUIRES ZINC PORTFOLIO

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ANNOUNCES MAIDEN PEA AT NASH CREEK

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SLIDE 7

Max Porterfjeld

CEO, President and Director

Over ten years of experience in natural resources and fjnancial markets, previously with Brazil Resources Inc., Uranium Energy Corp. and US Global Investors. He is a graduate of Texas Tech University, with a bachelor’s degree in business administration.

Killian Ruby

Chief financial officer

A Chartered Professional Accountant and was formerly an Assurance Partner at Wolrige Mahon LLP (now Baker Tilly Canada), and prior to that a Senior Manager with KPMG, working predominantly with public companies.

James Pickell

Consulting geologist

Over 40 years

  • f

VMS exploration experience globally. Notable discoveries include the Callinan North, Konuto Lake and 777 ore bodies within the Flin Flon district of Manitoba, Canada. Mr. Pickell is a recipient

  • f the PDAC Bill Dennis Prospector of the

Year Award for his role in the discovery of the 777 Mine.

JJ O’Donnell

Consulting geologist

Over 25 years of VMS exploration experience within Canada while holding senior positions with Callinex, HudBay,Selwyn Chihong Mining and Granges. Mr. O’Donnell has been instrumental in the exploration and development of the world-class Howard’s Pass Zinc Project located in the Yukon, Canada.

  • ur TEAM

Mike Muzylowski

consulting geologist & Advisor

Involved in the discovery of 12 VMS mines in the Flin Flon district of Manitoba,

  • Canada. His discoveries include the Trout

Lake mine, which operated from 1982-

  • 2012. Mr. Muzylowski received the 1988

Alan Vowles

consulting geophysicist

Over 35 years

  • f

VMS exploration experience within the North America and an integral member of the HudBay team that discovered the Lalor deposit in

  • Saskatchewan. Mr. Vowles is a recipient of

the PDAC Bill Dennis Prospector of the Year Award for his role in the discovery of the Lalor Mine.

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portfolio of zinc assets

  • Portfolio of advanced stage zinc rich VMS

deposits located in established Canadian mining jurisdictions

  • All mineral resources start at or near surface
  • Deposits located near processing facilities

and essential mining infrastructure

  • Provides exposure to rising metal prices with

deposits containing sizeable zinc, gold and silver resources

Buchans District Bathurst District Flin Flon District

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bathurst overview

Quebec

N

Bathurst

NEW BRUNSWICK

Caribou Mine & Mill Brunswick Mine #12 Brunswick Mine #6 Heath Steele Mine

SUPERJACK HEADWAY NASH CREEK

20 km

LEGEND

Processing Facility Lead Smelter Power Station Power Rail Station Rail Deep Water Port Mine Road City

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bathurst MINING District

Modifjed from Goodfellow, 2003 Clusters of deposits make up the Bathurst Mining District

CLUSTER EFFECT VMS DEPOSITS PRODUCTION HISTORY

One of the largest volcanic-hosted sulphide belts in the world with more than 130Mt of ore produced, commonly Zn-Pb-Cu-Ag-Au

GEOLOGICAL ENDOWMENT

Over 45 volcanic-hosted massive sulphide deposits including the 230Mt Brunswick No. 12, 70 Mt Caribou Mine and 69 Mt Heath Steel Mine

MINING INFRASTRUCTURE

Great access to power, water, roads and processing facilities in a major mining district

30 20 10 5 3 1 0.1 1 10 100 1000 Pb + Zn (wt. %) Million Tonnes Caribou BMS #12 Superjack Nash Creek

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Quebec

  • 2018 PEA outlines outlines a 10-year, 3,900

tpd open pit mining operation with a dense media separation (“DMS”) plant and 1,950 tpd conventional fmotation mill

  • Indicated resource containing 963 million

pounds of Zn Eq. contained within 13.6Mt grading 3.2% Zn Eq. and an Inferred resource containing 407 million pounds of Zn Eq. contained within 5.9Mt grading 3.1% Zn Eq.

  • World-class infrastructure with highway and

transmission lines 1 km from deposit; seaport, smelter, railway and power plant <25 km by road

  • District-scale, 150 km2 land package hosting

the Nash Creek deposit that extends for +2 km and is open along strike in both directions

nash creek project

SUPERJACK NASH CREEK Caribou Mine Brunswick Mine #12 Brunswick Mine #6 Heath Steele Mine Bathurst

25 KM

N

20 km

LEGEND

Processing Facility Lead Smelter Power Station Power Rail Station Rail Deep Water Port Mine Road City

HEADWAY

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Infrastructure Advantage at Nash Creek

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District-scale Potential

BASE CASE SCENARIO

maiden pea results

14.4 Mt @ 3.7%

MINED MINERALIZATION (DILUTED ZN EQ.)

$80.13

NET SMELTER RETURN ($/T OF DMS FEED)

$168M

PRE-PRODUCTION CAPEX

$230M / $128M

PRE-TAX/AFTER-TAX NPV (8%)

~96M Pounds

AVERAGE ANNUAL PRODUCTION (ZN EQ.)

$30.94

TOTAL OPERATING COST ($/T OF DMS FEED)

2.8 Years

AFTER-TAX PAYBACK

34% / 25%

PRE-TAX/AFTER-TAX IRR

  • Located in emerging mineral belt

adjacent to traditional “Bathurst” area

  • Robust track record of resource

growth with additional drilling

  • Several high-grade mineral occurrences

with no known previous drilling

VERSATILE: POTENTIAL TO INCREASE SCALE OR FOCUS ON A SMALLER, HIGHER MARGIN TOLL MINING OPERATION

(1) See news release dated May 14, 2018. Base case parameters assume a metal prices of US$1.25/lb Zn, $1.10/lb Pb and $17/oz, and an exchange rate (US$ to C$) of 0.77. All currencies are reported in Canadian dollars unless

  • therwise specified. The PEA is preliminary in nature and includes inferred

mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized.

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Production Schedule overview

Year 1 Year 5 Year 2 Year 6 Year 9 Year 3 Year 7 Year 10 Year 4 Year 8 Year 11

3.68 % Zn 2.27 % Zn 2.75 % Zn 2.83 % Zn 2.67 % Zn 2.76 % Zn 3.08 % Zn 2.78 % Zn 2.49 % Zn 3.08 % Zn 6.38 % Zn

$80.0

$M OPERATING CASH FLOW

$40.0 $70.0 $30.0 $60.0 $20.0 $50.0 $10.0

Opportunity to increase IRR and NPV with additional exploration that could allow for higher grade material after year one of the mine plan

OPERATING CASH FLOW AND ZINC GRADES

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District scale land package

N

3.5% Zn, 2.5% Pb and 1,500 g/t Ag 5.5% Cu and 3.4% Cu 9.1% Zn and 2.1% Pb 8.1% Zn and 10.9% Pb

5 km LEGEND

CNX Claim 2018 IP Survey Metal Occurrences Provincial Highway 11 Major Transmission Line Railway

Deep Water Port Power Station Brunswick Smelter

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nash creek deposit correlation with 2011 ip survey

1 km LEGEND

Drill Holes IP Chargeability (15-25 mv) IP Resistivity (50-65 ohms) Mineral Resources Provincial Highway 11 Major Transmission Line

N 25 km to Smelter, Deep Sea Port & Railway

1.2 KM TO HWY

  • The 2011 IP survey was integral to

Callinex’s initial 2017 exploration campaign that led to a major expansion of the Nash Creek Deposit

  • All drilled tested IP targets have

intersected base metal mineralization

  • r alteration related to the Nash

Creek Deposit

  • Only 2 km of the 20 km trend has been

subject to any signifjcant exploration, which led to the delineation of the Nash Creek Deposit

  • The 2018 IP Survey will span a linear

16.5 km northwest-southeast trend with line widths up to 4.7 km

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nash creek preliminary results of 2018 ip survey

  • Preliminary results have identifjed a

target area that spans approximately 1,900m by 400m

  • Two drill holes to test conductive

targets intersected various amounts of sulphide mineralization with potential to host zinc and lead mineralization

  • The target area will be drill tested in

an upcoming drilling program

  • The footprint of this target area

compares favorably to the IP signature of the Nash Creek Deposit

1 km LEGEND

Drill Hole IP Chargeability (7-25 mv) IP Resistivity (50-65 ohms) Mineral Resources Provincial Highway 11 Major Transmission Line

N

1 . 2 K M T O H W Y

25 km to Smelter, Deep Sea Port & Railway

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2018 IP survey at nash creek project

LEGEND

CNX Claim 2018 IP Survey Mineral Occurrences Provincial Highway 11 Major Transmission Line Railway

N 5 km

Deep Water Port Power Station Brunswick Smelter 3.5% Zn, 2.5% Pb and 1,500 g/t Ag 9.1% Zn and 2.1% Pb 8.1% Zn and 10.9% Pb 5.5% Cu and 3.4% Cu

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Potential to Expand

  • The Nash Creek Deposit is open for expansion in

several directions

  • The Company’s initial drill program in 2017 led to

an increase in indicated Zn Eq. pounds by 74% and Inferred Zn Eq, pounds increased by 385%*

  • VMS deposits almost always occur in clusters;

however, Nash Creek is the only known VMS deposit in the area

  • Primary north-south corridor has several high-

grade mineral occurrences up to 19% Pb+Zn at surface with very limited historic drilling

  • Potential for new discoveries within a 150 km2

land package

*See News Release dated April 16, 2018

2018 MINERAL RESOURCE ESTIMATE

N

DRILLING BY YEAR

Pre-Callinex 2017 Callinex

500 METRES

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SLIDE 20
  • Small, high-margin starter pit included within

the 2018 PEA

  • Near-surface Inferred resource of 3.2Mt grading

4.6% Zn Eq. containing 328 million pounds of Zn Eq.

  • Located 15 km from the ‘supergiant’ Brunswick

#12 Mine, recently

  • ne
  • f

the largest underground zinc mines in the world

  • Project covers the Caribou and Brunswick

horizons which hosts on average 15-20Mt geologic deposit

  • Plans to follow up on a 2017 near-surface zinc

discovery that is wide open for expansion

superjack project

Quebec

SUPERJACK NASH CREEK Caribou Mine Brunswick Mine #12 Brunswick Mine #6 Heath Steele Mine Bathurst

25 KM

N

20 km

LEGEND

Processing Facility Lead Smelter Power Station Power Rail Station Rail Deep Water Port Mine Road City

HEADWAY

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New zinc discovery

  • A new high-grade, near-surface massive sulphide zone that is open for expansion
  • Discovery was sandwiched between a formational conductor and subsequent borehole and large ground

electromagnetic survey identifjed targets for follow-up drilling

3D View Looking Southwest of the Superjack A, B, C and D Zones

LEGEND Drill Hole Deposit Geophysical Plate 2.7m of 6.2% Zn Eq. 1.9m of 8.0% Zn Eq. 2.9m of 5.6% Zn Eq.

‘D’ Zone ‘A’ Zone ‘C’ Zone ‘B’ Zone

BPEM plates associated with the ‘D’ Zone BPEM plates associated with the ‘B’ Zone

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Headway Project

  • The high-grade project is located

adjacent to the world-class Brunswick No 12 Mine, where production totaled 137 million tons grading 8.74% Zn, 3.44% Pb, 0.37% Cu, and 102 g/t Ag from 1964-2013

  • The project hosts the Headway

and Pabineau deposits located along the prolifjc ‘Brunswick Horizon

  • The Headway deposit is reported

to be 950m long, 160m deep and up to 15m thick

  • Callinex plans to complete a

surface induced polarization survey and drilling in the future.

Deposit Callinex Mineral Claim Osisko Mineral Claim 3rd Party Mineral Claim Road Power Rail

N

2 km

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SLIDE 23

N

Flin Flon Project Flin Flon Pine Bay Project 777 Mine Processing Facility

LEGEND

Deposit Historic Mine Pine Bay Shaft Callinex Claims Callinex Mining Lease HudBay Claims Paved Road Power Rail

Flin Flon District Overview

kilometers

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  • Explored by Placer Dome during the 1990s,

where they had a mandate to discover a 30 Mt VMS deposit

  • Covers one of the largest felsic rock

packages within the belt, the primary host rock for VMS deposits

  • Large alteration zone spanning 1,100m

long and up to 700m wide has been

  • verturned and is facing to the west,

adjacent to three VMS horizons

  • Three

stacked horizons host fjve mineralized zones including the Pine Bay Copper deposit

PINE BAY project

POTENTIAL FOR A LARGE VMS DEPOSIT

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

kilometers

N

Deposit Historic Mine Mine Shaft Callinex Claims Callinex Mining Lease HudBay Claims Alteration Zone

N

+ + + + + + + + + Baker Patton Felsic Complex Road Power

LEGEND

N

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SLIDE 25

high-grade potential at pine bay

Hole From (m) To (m) Interval (m) Zn Eq (%) Zn (%) Au (g/t) Ag (g/t) Cu (%) Pb (%) 284-3-93-DPN 998.80 1010.26 11.46 12.23 5.61 1.65 56.38 0.68 0.35 Including 999.26 1009.59 10.33 13.06 6.00 1.78 60.39 0.71 0.35 Including 999.80 1004.00 4.20 20.77 11.82 2.43 73.77 0.70 0.73 Including 999.80 1002.50 2.70 26.35 16.37 2.57 79.21 0.86 0.98

Cabin VMS Horizon Baker Patton VMS Horizon Pine Bay VMS Horizon New Discovery – 10.3m of 13.1 Zn Eq.

  • Callinex discovered 10.3m of 13.1%

Zn Eq. (6.0% Zn, 1.8 g/t Au, 60.4 g/t Ag, 0.7% Cu and 0.4% Pb) by extending a previous Placer Dome drill hole by 38m

  • Hole intersected most signifjcant

gold and silver results from 625 holes drilled from over 80 years of exploration at the project

  • Nature of mineralization suggests the

VMS system is long-lived and the intersection occurs at the edge of the system

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SLIDE 26
  • Plans to complete an IP survey over

key stratigraphy at the Company’s Pine Bay Project located in the Flin Flon Mining District of Manitoba.

  • The objective is to model lowly

conductive pyrite that has the potential to host high-grade zinc, copper, gold and silver mineralization to a depth of 580m

  • Previous exploration discovered

multiple pyrite-rich massive sulphide intersections that are very poorly conductive and as a result traditional electromagnetics has been an ineffective vectoring tool in this geological environment

  • Potential to follow up on new drill

targets in 2019

2019 IP Survey at Pine Bay

Plans to complete an IP survey over key stratigraphy at the Company’s Pine Bay Project located in the Flin Flon Mining District of Manitoba. The goal of the survey is to model lowly conductive pyrite that has the potential to host high-grade zinc, copper, gold and silver mineralization to a depth of 580m Previous exploration discovered multiple pyrite-rich massive sulphide intersections that are very poorly conductive and as a result traditional electromagnetics has been an ineffective vectoring tool in this geological environment Potential to follow up on new drill targets in 2019

2019 IP Survey at Pine Bay

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SLIDE 27

Inferred Mineral Resources* Indicated Mineral Resources* Project Cut-off (Zn Eq) Tonnes Zn Eq. (%) Zn (%) Pb (%) Ag (g/t) Au (g/t) Cu (%) Zn Eq. (M Lbs)

Nash Creek 1.5 13,592,000 3.21 2.68 0.58 17.8 n/a n/a 963 Total 13,592,000 3.21 2.68 0.58 17.8 n/a n/a 963

Project Cut-off (Zn. Eq) Tonnes Zn Eq. Zn (%) Pb (%) Ag (g/t) Au (g/t) Cu (%) Zn Eq. (M Lbs)

Point Leamington 4.0 14,093,000 6.15 1.88 0.02 17.1 1.1 0.42 1,910 Superjack 1.5 3,211,015 4.63 3.01 0.78 29.5 n/a 0.27 328 Nash Creek 1.5 5,929,000 3.11 2.68 0.47 13.9 n/a n/a 407 Total 23,233,015 5.20 2.23 0.24 17.99 0.7 0.29 2,645

Total mineral resources

  • Large inventory of zinc resources within established Canadian mining jurisdictions totaling 963 million

pounds of Zn Eq. in the Indicated category and 2.7 billion pounds of Zn Eq. in the Inferred category.

Numbers may not add due to rounding. See News Releases dated November 9, 2016 and April 16 2018.

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C alli ne x Co rpo rate P r e se ntatio n TSX-V: CNX I OTC: CLLXF

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INVESTMENT SUMMARY

PROJECT PORTFOLIO STRONG TEAM TIGHT CAPITAL STRUCTURE

2018 PEA outlines a strong economic return with a pre-tax IRR of a 34.1% and a pre-tax NPV8% of $230M District-scale land package spanning 150 km2 with several untested high-grade occurences Technical team involved in the discovery and development of several major base metal deposits in Canada

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Calline x Co rpo rate P r e se ntat i o n TSX-V: CNX I OTC: CLLXF

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T S X - V: C N X | O T C : C L L X F

604.605.0885 info@callinex.ca www.callinex.ca Corporate Head Offjce 1555 - 555 West Hastings Street Vancouver, BC Canada V6B 4N4 President and CEO: Max Porterfjeld Corporate Counsel: Northwest Law Group Auditors: PwC