SPC METALS April - 2019

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Forward Looking Statements Certain information contained in this presentation, includes information and statements which may contain words such as "could", "plans", "should", "anticipates", "expect", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward-looking information. All of the forward-looking information contained in this presentation is qualified by this cautionary statement. There can be no assurance that the actual results or developments anticipated by SPC Metals ( a business unit of Sudbury Platinum Corporation) or its parent company, Transition Metals Corp as expressed or implied by the forward-looking information, will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Sudbury Platinum Corporation or its business operations. Sudbury Platinum Corporation disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events. Readers should not place undue reliance on forward-looking information.

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Two unique locations within World-class Sudbury Mining district

Aer-Kidd on Worthington Offset Dyke between Vale’s Totten Mine & KGHM’s Victoria Mine development project

Lockerby East Project is a strategic, highly prospective section of Sudbury contact and footwall hosting significant resources

Numerous highly conductive drill targets identified from borehole UTEM and AMT surveys on both properties

SPC Metals Investment Overview

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Sudbury Canada’s Mining Center of Excellence

Ni

10 Mt

Cu

10 Mt

Pt

300 tons

Pd

300 tons

120 years, $1 trillion*

56 mines (11 active) & ~7,000 employed in mining/exploration/services + $6 Billion mining investment, confirmed or planned for Sudbury, 2012-2017

Au Ag Se Te Co

* Estimated market value of total historic production plus current reserves, using data & commodity prices from 2010

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Strong and Diverse Team Highly skilled technical team with +75 yrs. of exploration experience Strong focus on Ni-Cu-PGM Exploration within the Sudbury Basin Strong Board with Project Development experience (DMC, Technica Mining, Royal

Nickel)

Track record of success in the Sudbury camp and elsewhere 2004 PDAC Discovery of the Year – Ni Rim South Project 2013 NW Ontario Discovery of the Year – Sunday Lake Project

High-quality Exploration Assets in Sudbury Aer-Kidd Property – Active drill program with high-quality targets Lockerby East Property – Historic Resources and untested EM conductors

Track record of safe, responsible exploration Incident and accident free exploration programs Over 17,000 hrs with no reported incidents

Demonstrated ability to raise Capital Raised over $9.5M in SPC over the last 5 yrs.

SPC Metals Building a Strong Company

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Located within Northern Ontario. Located 400km north of Toronto and

480km NW of Ottawa. Encompasses the Greater City of

Sudbury – Pop: 160,000.

Sudbury Basin Location

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One of the largest, oldest and best preserved impact structures on the planet.

Presently and elliptical body measuring 30km by 60km and up to 5km thick.

Canada’s largest mining camp with more than 100yrs. of mining activity.

The Sudbury Nickel Camp is 2nd in the world in terms of contained Nickel.

Sudbury Basin Overview

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Proterozoic in age (1.85 Ga) Formed as a direct result of a

meteorite impact. During cooling, dense sulphides

settled to the base of the SIC, pooling in depression along the crater floor

SIC melt sheet was injected into the surrounding country rocks to form Offset Dykes.

Three main types of ore deposits. Contact-hosted

Occur along the base of the SIC in depressions.

Typically Ni-rich, massive sulphide. Footwall-hosted

Occur within the footwall of the SIC. Cu-PGM rich massive sulphide veins.

Offset Dyke-hosted Occur within concentric and radial offset

dyke. Pipe-shaped deposits that contain Ni-Cu-

PGM’s.

Sudbury Basin Geology

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Ni first discovered 1883 during the construction of the CPR.

1886 first mine at Copper Cliff 1st smelting in 1889 Inco emerged 1919. Most of the major deposits were discovered

from 1883-1900. Most of these are still in production today.

Falconbridge emerged 1928. Spike in production for both WW1 and WW2. Many of the shallow high-grade deposits were

depleted around 1940. 1969 Creighton #9 Shaft completed to 2,175m

(was the deepest in the world). Inco super stack built in 1970 (380m). Production peaked around 1970. FNX mining enters the scene in 2001. Falconbridge discovers Ni-Rim South. 2006 Inco is acquired by Vale and Falconbridge

by Xstrata. 2013 Glencore merges with Xstrata

Sudbury Basin History

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The Sudbury Camp is 2nd in the world in the world in terms of contained Ni behind Noril’sk.

Since the discovery of ore in Sudbury, over 11.1Mt of Ni and 10.8Mt of Cu have been mined.

The wealth generated in terms of nickel and copper at current metal prices is close to $215B US.

The Sudbury Basin is a truly remarkable and a one of a kind ore deposit.

Sudbury Basin Mining and Value

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High-grade massive sulphide ore deposits.

Continued track record of success after 100+ yrs. of mining and exploration. Victoria Deposit - KGHM Totten Mine - Vale Ni-Rim depth – Glencore/Vale Onaping Depth - Glencore Norman West - Glencore

Significant Reserves and Resources still exist. 2017: Vale reported Reserves at 69.9Mt @

1.43% Ni, 1.80% Cu, 1.2g/t Pt, 1.4g/t Pd, 0.5g/t Au.

Excellent infrastructure including 2 Smelter and Mill Complexes.

Pro-mining district with a highly skilled workforce and service sector.

Sudbury Basin Production

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Two of the largest mining companies in the world are active in the Sudbury Basin.

9 Active Mines 2 Smelters Complexes 2 Mill Complexes

Sudbury Basin Activity

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Aer-Kidd Property Located along the Worthington

Offset, between Vale’s Totten Mine and KGHM’s Victoria Deposit.

Targeting the offset dyke for massive sulphide mineralization.

Lockerby East Property Located along the SIC contact

adjacent to the past producing Lockerby Mine.

Historic 43-101 resources associated with the West Graham and Lockerby East Deposits.

Numerous untested high conductivity geophysical conductors.

SPC Metals Active Projects

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Worthington Offset Aer-Kidd Property

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Worthington Offset Long Section

Worthington Offset - History Victoria – Historical production of 1.54Mt @ 1.57% Ni, 2.26% Cu from 1900-1978. Totten – Historical production of 1.56Mt @ 1.15% Ni, 1.36% Cu from 1914-1970. Aer-Kidd – Resource of 786,000t @ 0.57% Ni, 0.76% Cu. Estimated 125,000t produced in 1967.

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Copper Cliff Offset Similar length,

morphology, geology and mineralization style to Worthington Offset but with a significant level of exploration completed

Major deposit every ~800m.

Kelly Lake deposit very similar in size. Grade and depth to Totten Mine.

10.5 Mt: 1.77% Ni, 1.34% Cu, 3.6g/t PGM

Aer-Kidd size Modified from Lightfoot & Farrow, 2002

Copper Cliff Offset

Worthington Offset

Victoria (deep): 14.5 Mt 2.5% Ni, 2.5% Cu, 7.6 g/t PGM $12 billion In-situ Value

(Source: QuadraFNX 2011 MD&A)

Totten (deep): 10.1 Mt 1.5% Ni, 1.97% Cu, 4.8g/t PGM $6 billion In-situ Value

(Source: InfoMine.com)

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Worthington Offset Totton Mine and Victoria Project

Totten Mine (Vale) Discovered in 1884, produced intermittently from 1890-

1970. From 1966-1970 Inco produced 971,000t @ 0.70% Ni,

1.02% Cu. Current resource of 10.1Mt @ 1.5%Ni, 1.97%Cu, 4.8g/t

PGM. Commercial production in Feb of 2014. CapEx of $760M. $5.2B US in-situ metal value (Apr 2019 metal prices) Offset dyke hosted Victoria Deposit (KGHM) Discovered in 1886, produced intermittently from 1886-

1978. From 1973-1978 Inco produced 649,000t @ 0.83% Ni,

1.26% Cu, 1.9 g/t PGM. Current resource of 14.5Mt @ 2.5%Ni, 2.50%Cu, 7.6g/t

PGM. 97 holes and 83,618m for discovery and initial

delineation. Development stage. $11.2B US in-situ metal value Offset dyke and footwall hosted

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Aer-Kidd Project 1.8km NE of Vale Totten Mine (looking SW)

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Aer-Kidd Project 3.0km SW of KGHM’s Victoria Mine (looking NE)

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Geology Totten MASU Mineralization

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Geology Inclusion-bearing Quartz Diorite (IQD)

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Geology Mineralized Amphibolite-bearing IQD (AIQD)

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1886 - 1890 1916 1936 - 1957 1966 - 1968

Exploration Drilling: 29,200m drilling in 48 holes targeted mineralization at depths 250-1000m. Best intersection: 1.46% nickel, 0.56% copper 1.3 g/t PGM over 9.8 m at a drill hole depth of 844 m. (Crowflight Minerals)

Discovery: Earliest discoveries of mineralization

Surface Extraction: 486 tons of hand-sorted ore from the Howland Pit and the Robinson Zone averaging 5.1% nickel and 2.1% copper were extracted and sold

Shaft: Development of a shaft to a final depth of 1,076 ft Four orebodies: Howland, Robinson, Rosen, Swamp (Denison Copper Mines) Mill:

Construction of a 1,250 ton per day mill, with 250,000 tons of ore being treated (Aer Nickel Corp / Kidd Copper Mine Ltd.)

2000 - 2004 2012-2019

Acquisition SPC: 21,494m drilled in 36 holes.

Aer-Kidd Property History

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Hole Number From (m) To (m) Length* (m) Ni wt.% Cu wt.% Co wt.% Pt g/t Pd g/t Au g/t PGM g/tAK-14-001 960.10 961.85 1.75 1.37 0.5 0.07 0.32 1.21 0.11 1.64including 961.05 961.85 0.80 2.34 0.5 0.12 0.32 2.04 0.07 2.43

AK-14-001A 900.80 908.90 8.10 1.04 0.75 0.05 0.69 1.52 0.19 2.4including 900.80 903.80 3.00 1.39 0.43 0.05 0.35 0.25 0.05 0.65

including 900.80 901.15 0.35 1.78 0.61 0.07 0.65 0.24 0.06 0.95including 902.00 902.60 0.60 2.23 0.67 0.08 0.34 0.19 0.01 0.54including 903.00 903.80 0.80 2.48 0.23 0.09 0.42 0.19 0.02 0.63

including 907.25 908.90 1.65 2.47 2.47 0.12 2.67 6.72 0.79 10.18including 907.25 908.10 0.85 3.6 4.12 0.15 3.69 1.24 0.46 5.39including 908.50 908.90 0.40 2.42 1.12 0.17 2.97 24.2 1.94 29.11

AK-14-001B 885.85 893.25 7.40 0.33 0.45 0.01 0.76 1.22 0.29 2.27including 892.65 893.25 0.60 0.33 1.38 0.02 1.5 2.25 0.44 4.19

AK-14-001C 836.00 854.00 18.00 0.39 0.59 0.01 0.78 0.77 0.29 1.84including 840.70 843.80 3.10 1.01 0.82 0.03 0.7 0.74 0.3 1.74including 843.20 843.80 0.60 3.39 0.36 0.09 1.36 0.48 0.11 1.95including 850.00 854.00 4.00 0.27 1.13 0.01 2.21 1.65 0.87 4.73

including 851.60 852.50 0.90 0.56 2.51 0.02 1.5 1.33 0.8 3.63AK-15-003 566.45 575.60 9.15 0.67 0.99 0.02 0.8 0.5 0.16 1.46including 568.55 570.00 1.45 1.11 2.36 0.02 1.8 0.92 0.2 2.92

AK-17-018 7.90 8.35 0.45 1.79 0.29 0.03 0.53 0.15 0.08 0.76and 10.60 14.40 3.80 0.59 1.09 0.02 0.73 0.25 0.10 1.08and 83.80 84.00 0.20 2.11 0.05 0.11 1.06 0.91 0.41 2.38

AK-17-020 70.55 82.90 12.35 0.91 0.28 0.03 0.46 0.23 0.11 0.80including 70.55 73.90 3.35 1.17 0.41 0.03 0.28 0.07 0.04 0.39including 80.30 82.90 2.60 2.05 0.17 0.05 0.64 0.26 0.13 1.03including 81.15 81.50 0.35 5.22 0.04 0.11 0.57 0.09 0.02 0.68

AK-18-030 683.40 696.75 13.35 0.61 0.92 0.02 1.52 0.69 0.29 2.50including 683.75 685 1.25 2.35 2.16 0.05 2.39 2.88 0.30 5.57including 695.4 696.75 1.35 1.39 1.15 0.03 0.92 0.37 0.15 1.44

AK-18-030A 651.5 665.1 13.60 0.66 1.22 0.03 0.74 2.57 0.15 3.46including 651.5 651.75 0.25 7.96 7.50 1.04 4.38 128.50 0.99 133.87including 658.7 659.8 1.10 2.19 3.55 0.05 2.75 0.37 0.29 3.41

2014-2018 Drill highlights

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Totten Mine Drift Typical Ore type and fragment distribution

WASTE

ORE

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Mineralization Style Massive sulphide associated with fragment-rich

portions of the Offset Dyke called IQD. A specific variety called amphibolite IQD (AIQD)

is the primary host of ore on the Worthington Offset.

Mineralization forms pipe shaped bodies that can be vertically extensive (+2000m)

SPC: 2014-2015: Drilled – 10 hole for 6,150m. Targeting: High conductance EM targets Right geology (AIQD) Down-plunge of historic mines Results: AK-14-001A: 8.10m @ 1.04% Ni, 0.75% Cu,

2.41g/t PGM. AK-15-003: 9.15m @ 0.67% Ni, 0.99% Cu, 1.44g/t

PGM. 4.5-6.0% Ni Tenors High PGM values (Up to 29.11g/t over 0.40m)

Aer-Kidd Property Long Section – 2014-2015 Drill Program

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Aer-Kidd Property Long Section – 2016-2017 Drill Program

SPC: 2016-2017: Drilled – 12 hole for 11,858m. Targeting: BHEM and surface EM targets. Zone of interpreted AIQD. Down-plunge of historic UG drill

intersections. Testing for new AIQD zones. Results: Several narrow sulphide intersections, Thick intervals of well-developed AIQD

intersected. No AIQD intersected in some of the

key holes.

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Aer-Kidd Property Long Section – 2017-2018 Drill Program

SPC: 2017-2018: Drilled – 14 hole for 3954m. 3 holes – 427m – abandoned 2 holes – 561m – shutdown Targeting: BHEM targets. Up-dip and Down-dip of historic UG

drill mines. Results: AK-17-020: 12.35m @ 0.91% Ni, 0.28%

Cu, 0.80g/t PGM. AK-18-030: 13.35m @ 0.61% Ni, 0.92%

Cu, 2.50g/t PGM. AK-18-030A: 13.60m @ 0.66% Ni,

1.22% Cu, 3.46g/t PGM.

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Targets: Testing geophysical anomalies, both BHEM

and AMT (PH-01, 02, 12, 13 and 16) Evaluate the potential extension of the

Robinson Mine from 350-650m (PH-03 to 11).

Deep Potential (>1000m): Test the deep potential of the property for a Totten or Victoria sized deposit (PH-14, 15)

Aer-Kidd Property 2019 Proposed Program

Area Holes Meters Budget

Geophysical Targets 5 5,950 $1,000,000

Robinson Extension 9 5,400 $1,000,000

Deep Aer-Kidd 2 3,700 $900,000

Follow-up 7 3,500 $600,000

23 18,550 $3,500,000

PH-01

PH-02

PH-15 PH-14

PH-12 PH-13

PH-16

PH-03 – PH-11

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Aer-Kidd Property Located along the Worthington

Offset. Between Vale’s Totten Mine and KGHM’s Victoria Deposit.

Targeting the offset dyke for massive sulphide mineralization.

Lockerby East Property Located along the SIC contact

adjacent to the past producing Lockerby Mine.

Historic 43-101 resources associated with the West Graham and Lockerby East Deposits.

Numerous untested high conductivity geophysical conductors.

Sudbury Platinum Corp. Lockerby East Property

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Image from Lightfoot 2017

Lockerby East Property Acquired assets through

First Nickel’s bankruptcy sale.

1.5km section of the SIC contact and footwall.

Dominated by Ni-bearing sulphides with lesser amounts of Cu and PGM’s.

Deposits are controlled by depressions in the basal contact as well as by local and regional structures.

Adjacent to the past producing Lockerby Mine, Lockerby East Mine and Ellen Pit.

Lockerby East Property Plan Map

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Image from Lightfoot 2017

Lockerby East Property Historic 43-101

resources associated with the West Graham and Lockerby East Deposits.

West Graham Deposit Ind: 8.55Mt @ 0.45% Ni,

0.31% Cu Inf: 2.0Mt @ 0.38% Ni,

0.30% Cu Lockerby East Deposit Ind: 0.18Mt @ 2.32% Ni,

0.78% Cu Inf: 0.04Mt @ 2.93% Ni,

0.80% Cu Numerous untested high

conductivity geophysical conductors.

Lockerby East Property Long Section – viewing direction is north

W E

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Lockerby East Geophysics New - 9 very strong EM

conductors (5,000-10,000 siemen) extending over a combined distance of 1,100m

Modelled geophysical conductors occur in close proximity to the basal contact of the SIC.

Positive correlation between elevated Ni-Cu values in historic drill core and geophysical conductors.

Minimal drilling has been completed on the West Graham – Lockerby East Trend below 1,400m where the strongest geophysical responses were observed.

Lockerby East Property 3D Model – viewing direction is SW

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Scott McLean #5 – 410 Falconbridge Road Sudbury, ON P3A 4S4 Telephone: 705-669-1777 smclean@sudburyplatinumcorp.com