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ORFORD MINING Orford Mining Corporate Presentation October 2017

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Page 1: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

ORFORD MINING

Orford Mining Corporate Presentation

October 2017

Page 2: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining

Disclaimer

2

Cautionary Statement Concerning Forward-Looking Statements

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this presentation.

This presentation contains "forward-looking information" including without limitation statements relating to the liquidity and capital resources of Orford and potential of one or more of the Qiqavik, West Raglan, Jones-Keystone Loflin and Landrum-Faulkner exploration properties.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orford to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could affect the outcome include, among others: future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Orford's filings with Canadian securities regulators available on SEDAR at www.sedar.com.

Although Orford has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation and Orford disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

The TSXV has neither approved nor disapproved the contents of this presentation.

Qualified Person and Quality Assurance and Quality Control

The disclosure of scientific and technical information contained in this presentation has been approved by Alger St-Jean, P.Geo, Vice President, Exploration of Orford, a Qualified Person under NI 43-101.

Samples reported in this presentation and indicated as grab, outcrop, sub-outcrop, boulders and float are grab samples. Grab samples are selective by nature and values reported may not be representative of mineralized zones. All drill intervals reported in this presentation are down-hole core lengths as true thicknesses cannot be determined with available information.

The work program at Qiqavik was supervised by Michelle Sciortino, P.Geo, Senior Project Geologist who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project log and weigh all samples prior to sealing and shipping. Sample shipments are sealed and shipped to Techni-Lab, Sainte-Germaine-Boulé, Québec. All gold assays reported were obtained by either 350-g screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish (method 1A2-5 and 1A3-50) at. The 350-g screen assay method is selected by the site geologist or the lab when samples contain coarse gold or higher percentage of sulfide mineralization that may be associated with gold relative to surrounding intervals. All samples are also analyzed for multi-elements, including copper and silver, using a four-acid method with an ICP-EOS and ICP-MS finish at Techi-labs affiliated Actlabs in Ancaster, Ontario. Overlimits were analyzed by peroxide fusion with ICP-EOS finish. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are inserted at a minimum of 10% and 5% for core and grab samples respectively for QA/QC purposes in addition to those inserted by the lab. A subset of samples has not yet been sent for a verification assay at another lab.

Techni-Lab Laboratory, is a subsidiary of Act Labs, is accredited (n. 707) by the Standards Council of Canada and found to comply with the requirements of ISO/IEC 17025:2005 (CAN-P-4E) and CAN-P-1579.

The technical information disclosed herein in respect of the Qiqavik Property is based on the independent report of Clement Dombrowski, P.Geo and Sylvain Desbiens P.Geo. titled “NI 43-101 Technical Report on Qiqavik Project, Northern Quebec, Canada” effective September 14, 2017, and on Orford Mining’s press release of October 26, 2017. The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo. titled “NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada” effective February 20, 2017. The information disclosed herein in respect of the Jones-Keystone/Loflin Option is based on the historic report prepared by Katie Lucas, M.Sc., P.Geo., titled “NI 43-101 Technical Report on the Champion Hills Gold Project, Randolph and Davidson Counties” dated January 17, 2013 and was summarized by Alger St-Jean P. Geo. The information disclosed herein in respect of the Landrum-Faulkner Option was compiled by Carolina Gold Resources from historical company files and was reviewed by Alger St-Jean, P.Geo.

October 2017

Page 3: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Orford Mining

3

Business Proposition

Orford Mining is a mineral explorer focused on the highly prospective and underexplored Cape

Smith Belt in Northern Quebec and the Carolina Gold Belt in the Southeastern United States

Significant target-rich land position in emerging gold districts

• Qiqavik bears similarity to the Abitibi gold camp (+70 Moz Au), and has camp scale potential

• West Raglan demonstrates analogous geology to Glencore’s Raglan Mine (14.5 Mt @ 3.21% Ni M&I)1

• Earning-in to highly prospective land in the Carolina Gold Belt proximal to the Haile Mine

Focused on politically stable jurisdictions

• Quebec ranked in 2016 as the 8th most attractive global mining jurisdiction by the Fraser Institute

• Recent commissioning of the world class Haile Gold Mine in Carolina

Orford Mining’s Value Creation Strategy

Focus on underexplored regions that bear strong geological similarities and are in close proximity to existing flagship mining operations for major mining producers (Cape Smith Belt – Raglan Mine, Glencore | Carolina Gold Belt – Haile Mine, Oceanagold)

(1) Note: This information is not necessarily indicative of the mineralization on Orford Mining’s properties

Page 4: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Orford Mining

4

High Quality Exploration Team and Capital Markets-Focused Board

David Christie President, CEO, and Director

> Professional Geologist with more than 30 years of experience in the resource sector

> Current Vice President with Goodman & Company Investment Counsel and Vice President of Dundee Resources Inc.

> Former President, CEO, and Director of Eagle Hill Exploration, mining equity research analyst at TD and Scotia Capital

> Current Director of Osisko Mining Inc., eCobalt Solutions Inc., and Condor Precious Metals (private)

Tim Hollaar CFO

> +20 years of experience in mining industry finance positions

> Served in senior finance and marketing positions with several nickel companies

Alger St-Jean VP Exploration and Director

> Professional Geologist with +20 years of experience in mineral exploration and development

> Current VP Exploration of RNC Minerals and former Senior Geologist at Xstrata Nickel (formerly Falconbridge)

Michelle Sciortino Senior Project Geologist

> Professional Geologist with +10 years of experience in mineral exploration and development

> Current Senior Project Geologist with RNC Minerals

Management Team

Board of Directors

Mark Selby Chairman

> Current President and CEO of RNC Minerals, with +20 years of experience in finance and corporate development at

various companies, including Quadra Mining and Inco Limited

> Former VP Business Planning & Market Research at Quadra Mining

John Leddy Director

> Current VP, Business Development and General Counsel of RNC Minerals, with 20 years of experience as a business

lawyer and in private equity specializing in M&A, capital raising / structuring and other strategic transactions

> Former Partner in Business Law Group (M&A) at Osler

Mark Goodman Director

> Current Executive Vice President and COO of Dundee Corporation and Chairman of Dundee Sustainable Technologies

> Previous CEO of Ryan Gold, Valdez Gold, Cogitore Resources, a base metal exploration company in Northern Quebec

Lawrence Smith Director

> +25 years of experience in investment management, equity research, and banking

> VP Portfolio Management and Research at CIBC Asset Management, Director of Equity Research at Scotia Capital and

Blackmont Capital, and Project Manager – Corporate Development at Rio Algom Limited

> CFA, MBA

Michel Gauthier Director

> Professional Geologist & Fellow of the Society of Economic Geologists with +40 years of experience in mineral deposits

> Current Director of Sphinx Resources and former Vice-Chairman of the Board of Directors of SOQUEM

> Former member of advisory committees to Auditor General of Quebec and Quebec Ministry of Energy and Resources

Page 5: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Orford Mining

5

Elephant Hunting in Proven, Yet Underexplored Mineral Districts

Carolina Gold Properties Re-emerging gold belt home to the Haile Mine

Qiqavik Gold / West Raglan Emerging polymetallic belt

Meliadine (Agnico Eagle) 3.4 Moz Au at 7.3 g/t in 2P reserves

Haile Gold Mine

(Oceanagold) +2 Moz Au at 2.06 g/t in 2P reserves

Raglan Mine (Glencore) Produces 37 kt of nickel in concentrate annually

Considered one of the richest base metal mines in the world

Orford Mining Properties Major Deposit

Meadowbank (Agnico Eagle) First gold pour in 2010, 2.7 g/t reserve grade

Orford Mining: Next door to flagship operations of major deposits

Hope Bay (TMAC) 3.5 Moz Au at 7.7 g/t in 2P reserves

Note: This information is not necessarily indicative of the mineralization on Orford Mining’s properties

Page 6: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining

Qiqavik

Page 7: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik – A New District?

7

Why Cape Smith Belt (“CSB”)?

Northern Cape Smith Belt - Excellent Geological Setting Remains Underexplored

Cape Smith Belt • Qiqavik sits in a Paleoproterozoic

volcano-sedimentary orogenic belt at the margin of the Superior Craton

• Multiple large scale structures with complex geometry are pathways for mineralizing fluids

• The parallel ultramafic “Raglan Belt” has yielded world-class nickel deposits, but the northern volcano-sedimentary portion of the Belt remains virtually unexplored

• Gold districts with similar tectonic and age setting include:

Flin Flon/Snow Lake, Canada

Ashanti Belt, West Africa

Tanami Goldfields, West Australia

Tapajos-Parima Belt, Brazil

• The 40 – km long Qiqavik Break Shear Zone is thought to have focused gold mineralization

Note: The information disclosed herein in respect of the Qiqavik Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services Geoscientifiques

Inc. titled “NI 43-101 Technical Report on Qiqavik Project, Northern Quebec, Canada” effective February 8, 2017.

Page 8: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

8

A Newly Discovered High Grade Au/Cu Trend +40 km in Length – Gold Highlights

Page 9: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

9

Work Completed to Date

$6.7M spent to date on geophysics, prospecting, sampling, and 3272 m of drilling

2017 Work

721 l-km Drone Mag

105 l-km IP

649 Grab Samples

1227 Till Samples

23 Drill Holes=2722m

Page 10: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

10

Surface Grab Sampling - Extensive Gold Mineralization along 40-km Qiqavik Trend

Page 11: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

11

Geological Summary: Aurora

Geological Summary Map of Aurora Results on Preliminary Geology

• Multiple high grade surface grab samples ranging from 10 to 189 g/t. Surface channel sample 5.5 g/t over 0.45 m

• Multiple quartz veins up to 30 cm in width parallel to strike

• The granitic unit has been mapped over a 600 m strike length, and is open. Its maximum apparent surface thickness is 75 m

Looking SE

Recent Work1

1.7km

2017 Discoveries

• Aurora Central & Aurora West Discoveries over 1.7km strike, grab sample up to 457.4g/t Au

• Au up to 8.93g/t Au from the Focus Intrusive to SW of the Aurora Zone

Page 12: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

12

Geological Summary: Esperance, Esperance West and Horizon

Map of Esperance Results on Preliminary Geology

2017 Discoveries

• Esperance West

Extensional Zone

• QK-17-21 7m of

1.59g/t Au and QK-

17-22 2.63g/t Au

over 4m.

• Horizon Channel

Sample 5.62g/t Au

over 90cm

Page 13: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

13

Central

2017 Discoveries

• Follow up on an

anomalous grab

sample from 2016

resulted in the

discovery of several

high grade Au

showings up to

113.9 g/t Au.

Page 14: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

14

Gerfaut

2017 Discoveries

• Follow up on an

anomalous till

sample 1km south

of the Falconbridge

hole resulted in the

discovery of several

quartz boulders

with VG grading up

to 285.2g/t Au

Page 15: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik

15

Results and Path Forward

• 2017 drilling supported the subsurface extent of the structures and

the Au mineralization discovered in the 2016 surface gold

discoveries (Esperance, Esperance West, and Aurora)

• The 2017 program illustrated that gold is associated with secondary

splay structures located along the Qiqavik Shear Zone which

extends the full 40 km length of the Qiqavik Property

• Geological data indicates that gold mineralization at Qiqavik

appears to be structurally controlled and associated with porphyry

intrusions in places

• Geological/Geochemical/Geophysical data from the summer 2017

program is currently being studied to identify and locate sites of

dilation along structures that were active at the time of gold

mineralization. This information will be used to target potentially

significant gold mineralization accumulations which tend to vary in

these types of structural settings

Page 16: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining

Carolina Gold

Page 17: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

17

Why Carolina?

• Southern extension of Appalachian Avalon Zone

• Metamorphosed volcano-sedimentary terranes

• Gold: Orogenic, low- and high-sulfidation epithermal gold

• Volcanogenic Massive Sulphides & Porphyry deposits

Proximity to the Haile Mine1 Regional Geology and Setting

Carolina Gold Belt in Appalachians

Haile Mine

• Oceanagold’s flagship operation

Romarco Minerals purchased in August 2015 for US$660M

• Large and high grade reserves at surface

+2.0 Moz Au 2P reserves at ~2.1 g/t Au

+4.8 Moz Au in MI&I resources at ~1.7 g/t Au

Expansion potential through exploration

• Competitive gold margins

Guidance at Haile is 150 – 170 koz in 2017 at US$500/oz AISC

Historical

• First gold rush in North America

• Ridgeway mine (Rio Tinto) produced 1.5 Moz Au

(1) This information is not necessarily indicative of the mineralization on Orford Mining’s properties

Distribution of Avalonian rocks within the Appalachian Orogen (source Foley & Ayuso, 2012)

Page 18: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

18

Prolific Gold Mineralization

Ridgeway (b)

Kennecott 1988-99

1.5 Moz produced

Haile (c)

OceanaGold

4.8 Moz resource

Brewer (d)

200 koz produced

Barite Hill (a)

Nevada Goldfields 1991-95

60 koz produced

100 km

Coastal Plain sediments (Cret.-Recent)

Basin-fill sedimentary rocks (Triassic)

Greenschist metavolcanic & metasedimentary

rocks (Neoproterozoic-Ordovician)

Amphibolite metasedimentary & metavolcanic

rocks (Early Paleozoic)

Cratonic basement rocks (Proterozoic) covered

by sedimentary rocks (Paleozoic)

Columbia

Landrum/Faulkner Vein/Diss. Gold Deposits

Orford Mining Properties x Important Historic Mines Small Historic Mines & Prospects

Jones-Keystone/Loflin Diss. Gold Deposits

a

b

c d

Raleigh

Note: This information is not necessarily indicative of the mineralization on Orford Mining’s properties Mining

Page 19: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

19

Proven Mineralization in Prospective Geology

• Orford’s Carolina Gold properties are located at the same stratigraphic horizon (geological level) and in the same rocks as the Haile, Ridgeway and Brewer deposits know as the Band of Gold.

• Historical mining and recent drilling demonstrate gold mineralization on properties.

Stratigraphic correlations of the Carolina terrane (source Foley & Ayuso, 2012)

Haile Mine

Ridgeway Mine

JK Loflin

Landrum-Faulkner

Page 20: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

20

Jones-Keystone-Loflin Project

0.005 – 0.01

0.01 – 0.025

0.025 – 0.05

0.05 – 0.075

0.075 – 0.10

0.10 – 0.20

0.20 – 0.30

0.30 – 0.40

0.40 – 0.50

0.50 – 1

Soil Gold (ppm)

Significant Mineralization

Weak Mineralization / No data

Mineralization Projected to Surface

Ridgeway

North Pit

(projected)

Ridgeway South Pit

(projected)

Loflin

Jones-

Keystone

Comparison of Scale Jones-Keystone & Loflin Mineralization

relative to

Haile and Ridgeway Gold Deposits

Note: Relative position & orientation

of Ridgeway pits have been modified for

Illustration purposes. Scale is as shown.

Page 21: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

21

Jones-Keystone Project – Strong, wide mineralization

Area Map: Strong and wide mineralization1 Asset Summary1

Project Name Jones-Keystone

Best

Intercepts

JK11-017: 104 m @ 1.27 g/t

(from 28 m)

JK10-006: 54 m @ 1.56 g/t

(from 184 m)

Ownership

Earn-in to 51%, option to

earn additional 19% (for

total of 70% interest)

Mineralization

Style

Disseminated gold with

pyrite & pyrrhotite in

altered volcano-

sedimentary sequence

Geological

Setting

NE-striking, tabular zones

traceable 850 meters along

strike & open to NE & at

depth

Target Size Drill-defined 850 m strike

length and open

Previous

Drilling

48 core holes in 2010 – 2011

(10,442 m) (1) Note: This is based on historical testwork not completed by Orford Mining

Page 22: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

22

Jones-Keystone Drilling Highlights and Work Plan

*Averages weighted by length

Jones-Keystone Drilling Details Hole-ID From To Length Au

(m) (m) (m) (g/t)

JK10-006 184 238 54 1.56

including 200 228 28 3.01

including 226 228 2 9.16

JK11-015 28 44 16 0.77

including 32 42 10 1.01

JK11-016 28 88 60 0.45

including 36 46 10 1.14

JK11-017 28 132 104 1.27

including 64 104 40 2.33

including 80 94 14 3.03

JK10-024 82 104 22 1.5

JK11-025 286 324 38 0.78

including 314 324 10 1.53

JK11-026 104 130 26 0.96

including 122 130 8 1.49

JK11-027 120 144 24 0.84

including 126 144 18 1.01

JK11-031 84.3 158 73.7 0.55

including 149 156.5 7.5 1.1

JK11-036 43.5 61.7 18.3 1.16

including 54.5 60.2 5.7 3.18

JK11-047 90.3 104.5 14.2 1.11

JK11-048 103.5 138 34.5 1.14

including 114 138 24 1.52

including 128 132 4 5.53

2017-2018 Work Plan

Nov-Dec 2017

• Mapping, Trenching and IP geophysics, Re-Logging Historical Core at Jones-Keystone and Landrum –Faulkner

Jan-Feb 2018

• Drilling at Jones-Keystone (1000m) and Landrum –Faulkner (500 m)

Page 23: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

23

Option Agreement Details

• Orford Mining has signed an option agreement with Carolina Gold Resources to earn up to a 70% interest in the Jones-Keystone/Loflin, and Landrum-Faulkner properties

Project Initial Option

Payment Exploration Spend

Annual Option

Payments Additional Spend

Jones / Keystone /

Loflin

$54,000

(half in cash, half in

Orford shares)

$500,000 in the first

year, additional $2.5M

by the fourth year

$25,000 in cash each

year for four years

$4.0M on exploration

and $150k payment in

shares over following

two years

Landrum-Faulkner

$54,000

(half in cash, half in

Orford shares)

$300,000 in the first

year, additional $1.7M

by the fourth year

$25,000 in cash each

year for four years

$2.5M on exploration

and $150k payment in

shares over following

two years

To earn-in to 51% To earn additional

20% (for total of

70%)

Option Agreements by Project

Page 24: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Orford Mining

24

Corporate Overview

Share Structure1:

Basic Shares Outstanding: 40.9 million

Warrants 8.0 million

Options 0.2 million

Fully Diluted Shares Outstanding: 49.1 million

Large Shareholders: RNC Minerals ~55% Dundee Resources Limited ~29% Market Capitalization1: C$24.5 million Cash and Cash Equivalents2 C$ 6.4 million

1. Shares outstanding, fully diluted shares outstanding, shareholdings and market capitalization as October 30, 2017 2. Cash and Cash Equivalents are Pro-forma as of June 30, 2017

Page 25: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Orford Mining

25

In Summary

Orford Mining is a mineral explorer focused on the highly prospective and underexplored Cape Smith Belt in Northern Quebec and the Carolina Gold Belt in the Southeastern United States

The Right Address Proven Team Camp Scale

Drill Ready Targets Elephant Hunting

Page 26: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining

APPENDIX

Page 27: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Qiqavik and West Raglan

27

Regional Geology

Syn- to Post Tectonic

Intrusives

Watts Group (1999 Ma)

Ophiolite

Parent & Spartan Groups

(1898 to 1860 Ma)

Spartan: Clastic Fore Arc

Parent: Magmatic Arc

Chukotat (1918 Ma)

Komatiitic to N-Morb Basalts

representing change in rift to

oceanic crust formation

Povungnituk (2038 to 1991

Ma)

Sedimentary and Volcanic

units associated with the

rifting of the Superior Craton

Legend

Page 28: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

West Raglan

28

A Rich Nickel, PGE District

Prolific, Yet Underexplored Region Regional Geology and Setting

Cape Smith Belt

Note: The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services

Geoscientifiques Inc. titled “NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada” effective February 20, 2017.

• Cape Smith Belt host to prolific high grade polymetallic nickel deposits and includes two operating mines: Raglan and Nunavik Nickel

• Raglan ore grades among the highest of significant global nickel deposits (14.5Mt @ 3.21% Ni M&I)1

• West Raglan located 40 km from Glencore’s Raglan Mine Property

Glencore is world’s fifth largest nickel producer

Raglan is a first quartile cash cost operation

(1) This information is not necessarily indicative of the mineralization on ’s properties to be acquired by Orford Mining

Page 29: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

West Raglan

29

Overview of Key Targets1

• Exploration work to date has identified outcropping sulphide mineralization over more than 35 km of strike, many zones have very limited testing

• Magnetic signatures, lithogeochemistry, and geology are the same at Frontier and Raglan

• Southern part of property has magnetic and till anomalies suggestive of Nunavik Mine (South Trend) style mineralization (larger tonnage, high Cu and PGM)

(1) The information disclosed herein in respect of the West Raglan Property is based on the independent report of Clement Dombrowski, P.Geo of IOS Services Geoscientifiques

Inc. titled “NI 43-101 Technical Report on West Raglan Project, Northern Quebec, Canada” effective February 20, 2017.

Page 30: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

West Raglan

30

West Raglan: Frontier Zone

Frontier Zone

High-grade Lenses

• Five key mineralized lens clusters

• 2,500 metre strike extent has five stacked mineralized target horizons

• High-grade (2-3% Ni, 3+ g/t PGE) sulphide lenses outcropping

• High priority targets modelled from BHEM and 3D magnetic inversion suggest vast potential remains above 250 metres depth

Page 31: ORFORD MINING · • Recent commissioning of the world class Haile Gold Mine in Carolina Orford Mining’s Value Creation Strategy ... > Current President and CEO of RNC Minerals,

Orford Mining October 2017

Carolina Gold Option

31

Loflin Project

Area Map: Strong and wide mineralization1 Asset Summary1

Project Name Loflin

Best

Intercepts

LOC90-002: 59 m @ 1.25

g/t (from surface)

LOC10-017: 20 m @ 2.19

g/t (from 26 m)

Ownership

Earn-in to 51%, option to

earn additional 19% (for

total of 70% interest)

Mineralization

Style

Disseminated gold with

pyrite & pyrrhotite in

altered volcano-

sedimentary sequence

Geological

Setting

NE-striking, tabular zone

traceable 450 meters along

strike & open to the NE &

at depth

Target Size Drill-defined 850 m strike

length and open

Previous

Drilling

43 core holes in 1989-1991

and 2010 – 2011 (4,720 m) (1) Note: This is based on historical testwork not completed by Orford Mining

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Carolina Gold Option

32

Jones-Keystone / Loflin Drilling Highlights

*Averages weighted by length

Jones-Keystone Drilling Highlights

Loflin Drilling Highlights

Hole-ID From To Length Au

(m) (m) (m) (g/t)

JK10-006 184 238 54 1.56

including 200 228 28 3.01

including 226 228 2 9.16

JK11-015 28 44 16 0.77

including 32 42 10 1.01

JK11-016 28 88 60 0.45

including 36 46 10 1.14

JK11-017 28 132 104 1.27

including 64 104 40 2.33

including 80 94 14 3.03

JK10-024 82 104 22 1.5

JK11-025 286 324 38 0.78

including 314 324 10 1.53

JK11-026 104 130 26 0.96

including 122 130 8 1.49

JK11-027 120 144 24 0.84

including 126 144 18 1.01

JK11-031 84.3 158 73.7 0.55

including 149 156.5 7.5 1.1

JK11-036 43.5 61.7 18.3 1.16

including 54.5 60.2 5.7 3.18

JK11-047 90.3 104.5 14.2 1.11

JK11-048 103.5 138 34.5 1.14

including 114 138 24 1.52

including 128 132 4 5.53

Hole-ID From To Length Au

(m) (m) (m) (g/t)

LOC90-001 0 97.2 97.2 0.95

LOC90-003 0 16.7 16.7 0.78

LOC91-008 80 110.9 30.9 1.02

LF11-030 0 32 32 1.34

including 25.9 32 6.1 4.13

LF11-037 54.5 74.3 19.8 0.8

LF11-038 75.2 85.5 10.3 1.23

LF11-039 16.8 47.5 30.7 1.12

LF-040 23 38.1 15.1 0.83

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33

Jones-Keystone Details: Hole JK10-006 Loflin Hole Details: LOC90-08

*Averages weighted by length

Hole-ID From To Length Au (g/t)

JK10-006 184 186 2 1.22

JK10-006 186 188 2 0.25

JK10-006 188 190 2 0.14

JK10-006 190 192 2 0.07

JK10-006 192 194 2 0.12

JK10-006 194 196 2 0.2

JK10-006 196 198 2 0.31

JK10-006 198 200 2 0.44

JK10-006 200 202 2 1.04

JK10-006 202 204 2 3.22

JK10-006 204 206 2 2.87

JK10-006 206 208 2 2

JK10-006 208 210 2 1.31

JK10-006 210 212 2 3

JK10-006 212 214 2 1.9

JK10-006 214 216 2 1.53

JK10-006 216 218 2 1.78

JK10-006 218 220 2 2.56

JK10-006 220 222 2 5.25

JK10-006 222 224 2 4.92

JK10-006 224 226 2 1.66

JK10-006 226 228 2 9.16

JK10-006 228 230 2 0.34

JK10-006 230 232 2 0.11

JK10-006 232 234 2 1.31

JK10-006 234 236 2 0.13

JK10-006 236 238 2 0.53

Average 1.75

Hole-ID From To Length Au (g/t)

LOC91-08 80.5 82.0 1.5 2.38

LOC91-08 82.0 83.5 1.5 0.22

LOC91-08 83.5 85.0 1.5 0.71

LOC91-08 85.0 86.6 1.5 1.62

LOC91-08 86.6 88.1 1.5 0.62

LOC91-08 88.1 89.6 1.5 0.33

LOC91-08 89.6 91.1 1.5 0.92

LOC91-08 91.1 92.7 1.5 0.76

LOC91-08 92.7 94.2 1.5 1.10

LOC91-08 94.2 95.7 1.5 1.21

LOC91-08 95.7 97.2 1.5 1.38

LOC91-08 97.2 98.8 1.5 0.79

LOC91-08 98.8 100.3 1.5 2.15

LOC91-08 100.3 101.8 1.5 3.10

LOC91-08 101.8 103.3 1.5 0.37

LOC91-08 103.3 104.9 1.5 1.21

LOC91-08 104.9 106.4 1.5 0.63

LOC91-08 106.4 107.9 1.5 0.13

LOC91-08 107.9 109.4 1.5 0.15

LOC91-08 109.4 110.9 1.5 0.55

Average 1.04

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Carolina Gold Option

34

Landrum-Faulkner Project

Area Map: Strong and wide mineralization1 Asset Summary1

Project Name Landrum-Faulkner

Best

Intercepts

LM-1: 11.3 m @ 6.1 g/t

(from 119.5 m)

LM-6: 2.4 m @ 20.2 g/t

(from 139.9 m)

Ownership

Earn-in to 51%, option to

earn additional 19% (for

total of 70% interest)

Mineralization

Style

Gold in Qtz veins

(Landrum). Disseminated

gold with Pyritte in altered

volcano-sedimentary

sequence (Faulkner)

Geological

Setting

Near regional contact

between felsic volcanic

rocks & argillites

Target Size

Historic drilling

demonstrates continuity

over 300 m strike and over

100m depth

Previous

Drilling 10 core holes in 1983-1985 (1) Note: This is based on historical testwork not completed by Orford Mining

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Carolina Gold Option

35

Landrum-Faulkner Drilling and Underground Sampling Highlights

*Averages weighted by length

Hole-ID From To Length Au

(m) (m) (m) (g/t)

LM-1 119.5 130.8 11.3 6.6

LM-2 123.4 131.7 8.2 2.6

LM-6 139.9 142.3 2.4 20.1

LM-6 151.8 153.8 2 6.8

LM-8 122.5 125.7 3.2 1.7

LM-10 232.1 233.9 1.8 0.5

Landrum Drilling Details

(1983-85)

Landrum Underground Channel Sampling

(1981-83)