Nipissing Gabbro East of Sudbury Blue Sky Potential

. With Minimal Downside risk

Bulk Sampling

Known Deposit

Could Generate

Positive Cash Flow

Eagle’s Nest Mineral Reserves & Resources Noront

Tonnes

(000)

Nickel

(%)

Copper

(%) Platinum (gpt)

Palladium

(gpt)

Gold

(gpt) Silver Cobalt

Reserves

Proven 5,264 2.02 1.04 1.01 3.45 0.19

Probable 5,867 1.38 0.72 0.78 2.76 0.18

Total Proven and

Probable 11,131 1.68 0.87 0.89 3.09 0.18

Resources

Inferred 8,966 1.1 1.14 1.16 3.49 0.3

Eagle Mine Reserves & Resources Lundin

Tonnes

(000)

Nickel

(%)

Copper

(%) Platinum (gpt)

Palladium

(gpt)

Gold

(gpt) Silver Cobalt

Reserves

Proven 4.83 3.52 2.94 0.75 0.51 ..29 0.1

Resources

Inferred 0 1.01 0.97 0.26 0.17 0.13 0.03

Eagle 3 Target Based on Assays From DDH Kennoco Hole 8

Tonnes

(000)

Nickel

(%)

Copper

(%) Platinum (gpt)

Palladium

(gpt)

Gold

(gpt) Silver Cobalt

Target 1 5,000 1.53 1.86 0.27 1.3 0.21 5.3 0.1

Bulk Sample Target 32.5 0.35 0.85 0.22 2.2 0.2 2 0.1

Bulk Sample Could Pay for Exploration

Mines are Made Not Found

EXPLORATION MODEL: The Noril’sk Model for Janes Twp

Historical exploration in the Janes Twp. area has tested exposed stratabound style of mineralization to limited depths with a view to defining an open pit resource.

After detailed assessment of historical and current work undertaken , the Noril’sk-Talnakh mining camp is advanced as the best known analogue for the Janes Nipissing magmatic suite.

Rationale for the Janes Property

• Large area with quality mineral showings – highly anomalous concentration of Cu-PGE-Ni showings in the target area

• Size of target – more than adequate lateral extent of known sills given small footprint of these deposits (typically a few hundred metres long)

• Noril’sk model of structurally-controlled and vertically stacked ore deposits and mineralized sills has not been tested – most prior efforts were focused on PGE or on shallow IP-defined drill targets; to our knowledge, no previous explorer has looked for a feeder-related deposit

• Access and infrastructure – within an established mining district

• JV-friendly land owners that negotiated fair terms for an option deal

• Ideal timing to secure land at low cost and favourable terms – low level of exploration activity in recent times other than a paleoplacer-type gold project to the south and east

NORIL’SK-TALNAKH ORE DISTRICT: DEPOSIT CHARACTERISTICS

6

• The ore-hosting intrusion are olivine and plagioclase-rich and are the most Mg-rich rock types in the Siberian flood basalt province.

• These intrusions are not large. Only 10’s kilometers in maximum strike length and

typically only tens to a few hundreds of metres thick. • Ore-hosting intrusions are horizontal but irregular in thickness & referred to as

chonoliths = tube-like or channelized intrusive bodies with rapidly thinning flanks. • Ore-hosting intrusions are differentiated (picrite to dolerite) but not layered. • Ore is associated with taxitic gabbro suggesting a high volatile content in magma.

NORIL’SK-TALNAKH ORE DISTRICT: SETTING

7

50 0

Noril'sk

1000km

Siberian Shield

Noril'sk City

Noril’sk 1

Intrusion

Talnakh-Kharaelakh

Intrusions

Lakes

Intrusions with high grade massive sulphide

Intrusions with disseminated sulphide

Sedimentary rocks

Flood basalt

Faults

NORIL’SK-TALNAKH ORE DISTRICT: MAJOR DEPOSITS

8

SEVERNIJ MINE

SKALISTY MINE

KOMSOMOLSKY MINE

MAYAK MINE

OKTYABR'SKY MINE

Main Kharayelakh Orebody – 1.5 km long

TAIMYR MINE

GLUBOKIJ MINE

Talnakh intrusion (emplaced in upper Permian sedimentary rocks)

Kharayelakh intrusion (emplaced in middle Devonian sedimentary rocks)

Massive orebodies

Mine boundaries

0 4km

(after Czamanske, 1995)

NORIL’SK-TALNAKH ORE DISTRICT: DEPOSITS Komsomol’sky Mine

9

WEST EAST

0 40m

Gabbro-dolerite

Picrite-taxitic gabbro-dolerite

Anhydrite-pyroxene hornfels

Faults

Massive ore

Disseminated ore

Drill holes

P

P

P

P P

P

P

P

P

P

NORIL’SK-TALNAKH ORE DISTRICT: DEPOSIT CHARACTERISTICS

10

• Deposits formed ~250 Ma at the Permian-Triassic boundary and are related to continental rifting and the eruption of the Siberian flood basalt province.

• The deposits rarely outcrop but Noril’sk was found by boulder prospecting. • Deposits include 3 main ore types:

1) massive Ni-rich ores at the base of intrusions or in immediate footwall (sedimentary rocks) – average grades 3-5% Ni, 3-5% Cu, 15-30 g/t PGE;

2) Cu-rich massive sulfide veins – average grades >3% Ni, >20% Cu, >1 oz/t PGE 3) blebby, disseminated sulfide mineralization – ave. grades 0.5-1% Ni, 0.5-1%

Cu, 3-5 g/t PGE

• The Cu-rich ores are believed to have formed by fractionation of a Cu-rich sulfide liquid during crystallization of the Ni-rich massive ores.

• The ore-hosting fault (Kharayelakh fault) is syn-extensional and possibly syn-

magmatic. • The ore-hosting and non ore-hosting intrusions thicken near the ore. The ores

cluster at the thickest parts of the overlying basalt sequence – magmatic centres.

NORIL’SK-TALNAKH – JANES TARGET AREA KEY SIMILARITIES

11

• Similar magmatic geochemistry, strong Cu and PGE tenor in sulphide

• Similar tectonic architecture – voluminous magmatic event within an extensional setting

• Proximity to crustal-scale, long-lasting structure(s)

• Locus of high grade/ high tenor mineralization occurs along rift-parallel or transfer faults (feeder conduits?)

• Evidence of massive Cu sulfides (Rathbun Lake) and other similar ore textures compared to Noril’sk

Janes Property Geology, Structures, Targets

KeResults

Janes Twp. Key Results to Date • Strong similarities to Noril’sk-Talnakh Ni-Cu-PGE mining district, Russia – most

applicable deposit/model • Untested structural targets (Noril’sk model) and no prior focus on high-grade

(conductive) massive sulfides • Recent sampling (July 2014) confirms the high quality of historical occurrences and

the clustering of high-tenor and good grade Cu-PGE-Ni mineralization in Nipissing intrusions along modeled magma feeder structures

• Land position allows access to critical structural targets via a combination of staking of crown land and option deals with selected claim holders

• Ideal location in terms of road/rail infrastructure and mining friendly jurisdiction with highly-skilled workforce

• ‘Manageable’ dimensions • A land position allowing for testing all of the main structural targets can be quickly

assembled • Area is amenable to year-round drilling and geology/geochemistry/geophysical

surveying

Recent Airborne EM Survey Produced Several Prospective Targets

Priority areas for follow up work

• Plan to finance with Flow though and common stock offerings.

• When Mining, Dividends are a possibility • Plans to stay private to reduce regulatory costs

Janes Twp. Target: Near surface, medium grade Cu-Ni-PGE deposit with high-grade Cu-Ni-PGE at depth Economic Potential: Open Pit – Drilling to date has outlined three zones of near surface mineralization over a strike length of 500 meters. Best drill results: 0.85% Cu, 0.28% Ni and 2.95 g PGM/t over 15 meters and 1.14% Cu, 0.89% Ni and 8.19 g PGM/t over 3 meters. Underground - Previous drilling has intersected high-grade mineralization that could be potentially economic by underground mining methods. Best drill results: 1.86% Cu, 1.51% Ni, and 1.78 g PGM/t over 7.9 meters and 11.08% Cu, 0.60% Ni, and 1.14 g PGM/t over 0.30 meters.

Trench 1 Janes Property Area for Proposed Bulk Sample

Table 7 – Calculated average assays for selected drilled mineralized intervals.

Hole No. From

(m)

To

(m)

Interval

(m)

Cu (%) Ni (%) Pd (g/mt) Au (g/mt) Pt (g/mt)

JR99-01 incl.

35.00 40.13

50.05 47.11

15.05 6.98

0.85 1.34

0.28 0.24

2.282 3.038

0.195 0.116

0.333 0.386

JR99-02 incl.

6.87 9.92

11.00 10.56

4.13 0.64

1.21 3.37

0.58 1.66

1.710 3.989

0.180 0.362

0.389 0.893

JR99-03 0.00 8.68 8.68 0.69 0.44 3.716 0.268 0.462

JR99-05 2.75 9.57 6.82 0.19 0.09 0.772 0.081 0.121

JR99-06 incl.

9.90 19.76

23.91 22.16

14.01 2.40

0.84 0.87

0.35 0.47

2.084 3.631

0.292 0.334

0.331 0.490

JR99-07 222.82 223.41 0.59 0.21 0.36 0.541 0.028 0

JR99-08 35.83 38.59 2.76 0.29 0.22 4.491 0.173 0.713

JR99-09 2.46 7.85 5.39 0.54 0.21 0.339 0.146 0.093

JR99-11 32.52 48.68 16.16 0.64 0.27 1.633 0.234 0.286

JR99-14 68.45 78.20 9.75 0.40 0.19 1.183 0.180 0.199

JR99-15 60.00 78.50 18.50 0.26 0.12 0.315 0.097 0.084

JR99-16 31.77 37.50 5.73 0.50 0.20 1.602 0.126 0.228

JR99-19 132.65 132.9 0.30 11.08 0.60 0.706 0.074 0.360

Trench 4 Janes Property

Drill hole 19

• Chargeability iso-surface showing chargeable feature north of JR07-36 and northeast of JR99-19.

DOWN THE HOLE I.P. COMPLETED 2007

Major aeromagnetic and gravity anomalies are present along a trajectory between Englehart, Temagami, Wanapetei, Sudbury, and

Manitoulin Island.

• $ 1,000,000 SPENT TO DATE

• FORTY DRILL HOLES COMPLETED SINCE 1998

• START PROCESS TO BRING KEY CLAIM TO LEASE

• PLANNED BULK SAMPLE ONCE PERMITS IN PLACE

Janes

Janes Project Within 100 km of 2 smelters and mill

Mining friendly Area Low Acquisition Cost