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YELLOWKNIFE CITY GOLD PROJECT

The Last Undeveloped

High-Grade Gold Camp in Canada

March 31, 2016

Cautionary Statement 1

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Cautionary Statement 2

GEOLOGY ‐ Covers 23 km of strike (118 km2) on one of the major high‐grade gold camps in Canada – and the least explored.  

LOCATION ‐ “In the shadow of the head frame” immediately north and south of the world‐class Giant and Con Gold Mines ‐ 14.2 Moz Gold1 produced over 60 years @ average grade of 16 g/t Au1

ACCESSIBLE ‐ Road access to city of Yellowknife (5 km to south), supply centre for NWT exploration; new (2013) hydro‐power dam on property; 8 km from commercial airport; skilled trades people and local support 

EXCELLENT ENDOWMENT ‐Multiple gold‐bearing structures: ‐ Barney Shear (extension of shear that hosted Con and Giant) ‐ TerraX drills 22.4 m @ 6.35 g/t Au2‐ Crestaurum – drill intercept of 5.0 m @ 62.9 g/t Au3‐ Shear 20 – drill intercept of 21 m at 2.97 g/t Au4‐ Hebert‐Brent – new discovery summer 2015 ‐ surface channel sampling of 11.0m @ 7.55 g/t Au5‐ Mispickel – new discovery winter 2016 drilling 7.30m @ 23.60 g/t Au23

FUNDED & ACTIVE – $5.2M raised in placements in June, 2015‐ Sale of option on 1% NSR to Osisko Gold Royalties for $1 Million; additional $2M required to exercise‐ fully funded for multiple drill programs in 2016. 

SECURE LAND HOLDINGS – Northwest Territories, Canada‐ 100% ownership; majority of property is mineral leases, with no work commitments or property payments

ATTRACTIVE SHARE STRUCTURE – 67.5M shares issued‐ 14.8% ownership by management and staff ‐ 16.9% acquired for cash in private placements by Osisko Gold Royalties  (TSX: OR)

EXPERIENCED MANAGEMENT ‐ Exploration, resource definition, mine planning and operations4

Investment Highlights

Company OverviewIssued Shares: 67.5 mln

Options: Total : 6.2 mln2,050,000 @395,000 @ 100,000 @295,000 @

1,050,000 @500,000 @750,000 @175,000 @600,000 @250,000 @

$0.17 (Jun. 28, 2018)$0.35 (Dec 24, 2017)$0.61 (Sept 30, 2016)$0.45 (Dec 23, 2016)$0.35 (Mar 14, 2019)$0.61 (May 5, 2019)$0.38 (Mar 26, 2018)$0.31 (July 22, 2018)$0.25 (Sept 1 2017)$0.32 (Feb 11, 2018)

Warrants: Total: 10.8 mln3,186,043 @ 1,236,462 @750,000 @650,000 @

4,018,738 @946,136 @ 

$0.30 (May.  8, 2016)$0.50 (Dec 20, 2016)$0.51 (Feb 12, 2017)$0.57 (Feb 28, 2017)$0.50 (Sept 30, 2017)$0.55 (June 5, 2018)

Fully Diluted Shares: 84.5 mln

Basic Market Cap (C$0.31/share) $20.9 mlnHeld by Management: 14.8%

Held by Osisko Gold Royalties: 16.9%

Working Capital $2.7 Million

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March 31, 2016

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Joseph Campbell, P. Geo – President, CEO and Director• 36 years of experience, including Exploration and Mine Development, open pit & underground• Project Manager for 7 years from discovery to pre‐feasibility ‐Meliadine gold project, Nunavut

⁻ Introduced Meliadine to Agnico Eagle (AEM) in 2007; wrote Endowment Study for AEM⁻ Completed pre‐feasibility level scoping study in 2008 with AEM engineers in Val D’Or;⁻ AEM acquired ≈9% of Comaplex ($46.9M in cash) in 2008;⁻ AEM acquired balance of Comaplex for $650 Million in shares in 2010;⁻ One of Agnico Eagle’s largest projects in terms of reserves and resources:

P&P Reserve of 3.3 Moz @ 7.44 g/t Au with Indicated Resource of 3.3 Moz @ 5.06 g/t Au⁻ Agnico’s “fastest growing project with multiple high‐grade zones”: 

Inferred resource at 3.5 Moz @7.65 g/t AuDr. Thomas Setterfield, P. Geo – VP Exploration and Director• 36 years of international experience: Ph.D in Geology from Cambridge University (1991) • Expert in IOCG, Epithermal Au and VMS deposit types Stuart Rogers, CFO and Director• 25+ years as director and senior officer of public companies on TSX‐V, TSX and NASDAQPaul Reynolds, P. Geo  – Director• 28 years of experience in resource exploration and public company managementElif Lévesque, CPA, CGA, MBA  – Director• Chief Financial Officer and VP Finance for Osisko Gold Royalties since June 2014• 13 years of experience in finance, treasury and strategic management in the mining industry

Accomplished Management

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Yellowknife ‐ One of Six High Grade Gold Camps in Canada

More Than 300M* Oz Gold have been mined from Archean Gold deposits in Canada, with the vast majority from High Grade Gold Camps

Yellowknife is the most northerly and least explored of these camps

* Gold Ounces in Camps include known historical production, reserves and drill indicated resources from public records. Totals should be considered approximate with an error range sufficient for comparison purposes. Other large Archean gold areas include Detour/Sunday Lake; Rice Lake; Chibougamau; Meliadine; and Meadowbank

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Regional Geology: Comparable to Timmins

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Geology of the YCG propertyIdeally Located for Discovery

• YCG is 1182 km and 23 km strike length covering the extension of the Geology Containing the Con and Giant Mines – Past Production Includes:o Con Mine 

1938 to 20036.1 million oz @ 16.1g/t Au1

o Giant Mine1945 to 2004  8.1 million oz @ 16.0g/t Au1

• YCG properties cover the most prospective geology of this belt

• Unique Situation for a Junior  Mining Company to Control a Major Gold Camp in Canada

0 4.0 8.09

• Year Round Access from Yellowknife • 8 km by road to Yellowknife Airport -

site of TerraX core facility• Blue Fish Hydro Dam on Property –

expandable for Mine Development• Skilled available workforce• Local service providers

Unmatched Accessibility Excellent Infrastructure

• Population - 20,000• Founded on 2 Gold Mines • Transportation hub for NWT• Highway Access to the Rest of

Canada• Daily jet service to major cities

City of Yellowknife:

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TerraX Core Facility

0 52.5kilometers

Benefits of Historical Exploration$M Saved, Accelerated Project Timeline

Previous core storage Giant Mine Core Yard~200 YCG Drill Holes Recovered

• TerraX has compiled +450 historical drill logs (1938‐96) recovered from Giant Mine by the NWT Geoscience Office

• Core from ~200 drill holes recovered by TerraX from Giant Mine core yard, sampling by TerraX included 5.0m @ 62.90g/t Au3 and 20.86m @ 3.79g/t Au6

• >250 drill collar locations have been identified and surveyed by TerraX – we have accurately located the ‘best’ holes

• TerraX has identified and sampled dozens of gold mineralized trenches 

• Project moved years ahead of schedule, and savings of $M

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THE ‘CORE GOLD AREA’Concentrating our exploration efforts

• Based on Surface work and drilling TerraX has defined a 5 x 3 km  ‘Core Gold Area’ of mineralization

• The Core Gold Area contains the Barney Shear (the extension of Con & Giant); the Crestaurum Deposit; Shear 20; as well as several other high grade shears and veins

• Taken collectively we believe the shears and veins could be indicative of gold‐bearing vein sets common to large mineralized systems

• The winter 2016 exploration drilling was carried out in this area as well as other advanced targets including Mispickel and Sam Otto.

0 2.5 5

kilometers

Hebert-Brent

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SAM OTTO

MISPICKEL

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2015

2015 Drill Results Core

Gold Area

Hebert‐Brent Zone

Crestaurum HW

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6

14

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Designed to Follow-up on 2014 Results

Winter 2015 Drilling Up Dip of Main Zone

Barney Shear – 2015 DDH SuccessExtending Dip of Zone

Incl. 5.16m @ 18.40 g/t Au

Incl. 4.00m @ 12.34 g/t Au

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6

2

6

7

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Barney Shear – 2015 DDH SuccessExtending Strike of Zone

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20.86m @ 3.79 g/t AuIncl. 4.00m @ 12.34 g/t Au15

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Crestaurum Zone – 2014/15 Drill Programs

South Ore Shoot

Central Ore Shoot

North Ore Shoot

North Ext Ore Shoot

• 2014 Program to twin 1945‐47 drilling and in‐fill drilling on known high grade shoots

• Twin Drill Holes incl. TNB14‐011 10.02m @ 4.17 g/t Au8

• In‐fill Drill Holes incl. TNB14‐019 2.85m @ 33.60 g/t Au8

• 2015 Drill Programs • SOUTH SHOOT

o TCR15‐003   7.00m @ 10.23 g/t Au3

o TCR15‐068   4.21m @ 12.4911

o TCR15‐052   10.80m @ 3.49 g/t Au11

100m 200m 400m0m

BLOCK MODEL GRADES

LEGEND

Areas of 2014Drill Holes

Areas of 2015Drill Holes

• 2015 Drill Programs • TCR15‐025  8.86m @ 2.86 g/t Au8, incl. 2.00m @ 10.24 g/t Au8 ‐ 400m strike extension

YCGP SUMMER 2015 SURFACE WORKDEVELOPING NEW TARGET AREAS FOR 2015‐2016 DRILL PROGRAMS

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2015 Samples Concentration on

the Core Gold Area

0 42kilometers

0 42kilometers

HEBERT-BRENTZONE

MISPICKEL,SAM OTTO

ZONES

2015 Replacement Style Deposit Discovery – 2015Hebert‐Brent Zone

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2

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5

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16

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Hebert‐Brent Style Targets ‐ Sericite Zone  Alteration  

5 TIMES LARGER ON SURFACE

THANHEBERT-BRENT

ZONE

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2016WINTER DRILLING

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UPGRADECURRENTICE ROAD

EXTENDEDICE ROAD & TRAILS

• Barney - 22.42m @ 6.35 g/t Au2, Including 5.16m @ 18.40 g/t Au

• Hebert-Brent – 10.36m @ 3.61 g/t Au13

DDH and 11.0m @ 7.55 g/t Au5 Channel • Pinto – assays up to 108 g/t Au18 in grab

samples• Mispickel - 6.0m @ 7.29 g/t Au19 in chip

sampling on surface; 7.30m @ 23.60 g/t Au23 and 8.60m @ 12.87 g/t Au23 in 2016 drilling

• Sam Otto - 5.35m @ 5.61 g/t Au19 & 15.85m @ 2.59 g/t19 in historical drilling (1995)

• AES – 5km shear extending from Giant property where mining occurred

• Homer Lake – Follow up 2014 exploration - 3.42m @ 3.41 g/t Au, 69.3 g/t Ag, 3.57% Pb, 3.17% Zn20 in DDH in 2014

• Crestaurum area high grade off-angle veins with assays up to 54921, 71222 and 878g/t Au22 in grabs

MISPICKEL

SAM OTTO

HEBERT-BRENT

BARNEY

PINTO

HOMER

AES

VSB

MISPICKEL DRILLINGFebruary 2016 – X-Section 1

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Looking South6.0 m @ 7.29 g/t Au19

6.0 m @ 7.29 g/t Au19

8.6 m @ 12.87 g/t Au23

7.3 m @ 23.60 g/t Au2311.32 m @ 2.14 g/t Au23

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First Phase Drilling (February 2016)

Second Phase Drilling (March 2016)

MISPICKEL DRILLINGMarch 2016 – X-Section 2

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4.0 m @ 3.55 g/t Au19

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First Phase Drilling (February 2016)

Second Phase Drilling (March 2016)

MISPICKEL 2016MAGNETIC SURVEY

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• Winter 2016 Ground Magnetic Survey defined high magnetic trend associated with the Mispickel gold zone for 5 kilometers

• Survey was completed in time to assist in location of 2nd phase of Mispickel drilling

• Spring 2016 will see survey completed on land sections, with coverage of the Sam Otto gold zone

MISPICKEL

SAM OTTO

0 1 2kilometers

SUMMER 2015 ROAD TO CRESTAURUM

WINTER DRILL SITE FEBRUARY 2016

MISPICKEL

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1 (604) 689‐1749 (Vancouver)1 (613) 843‐8109 (Ottawa)

E‐Mail: info@terraxminerals.comwww.terraxminerals.comTXR TSX‐V  TRXXFOTC

REPAIRS ON CRESTAURUM ROADJUNE 2015

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Appendix I ‐ References for Assay ValuesWithin this Presentation

1. Slides 4, 9 - Con Production from Extech III Field Guide, 2002, The Yellowknife Mining Camp Over 60 Years of Mining, editor Hendrick Falck, Section - Miramar Con Mine, pg 80, table 1;

and Slides 4, 9 - Giant Production from James P. Siddorn, PhD thesis, The Giant-Con Gold Deposit: A Once Linked Archean Lode-Gold System, Chapter 2 – Siddorn, J. P., Cruden, A. R.; Early Gold Mineralization Versus Late Overprinting in a Structurally Complex Gold Deposit: The Giant Gold Deposit, Yellowknife Canada, pg 13

2. Slides 4, 13, 14, 15, 18, 21 News Release August 25, 20143. Slides 4, 11, 16 News Release October 2, 10134. Slides 4 News Release October 16, 20135. Slides 4, 18, 21 News Release August 11, 20156. Slides 11, 13, News Release August 14, 20147. Slides 13, 15 News Release May 13, 20158. Slides 13, 16 News Release April 1, 20159. Slide 13 News Release March 11, 201510. Slide 13 News Release Feb 24, 201511. Slides 13, 16 News Release December 8, 201512. Slide 13 News Release December 4, 201513. Slides 13, 21 News Release November 18, 201514. Slide 13 News Release September 15, 201415. Slide 14, 15 News Release November 14, 201316. Slides 18 News Release September 8, 201517. Slides 18, 19 News Release October 28, 201518. Slide 21 News Release January 5, 201619. Slide 21, 22, 23 News Release October 30, 201320. Slide 21 News Release May 12, 201421. Slide 21 News Release July 24, 201422. Slide 21 News Release, September 8, 2014 23. Slide 4, 21, 22 News Release February 23, 201624. Slide 23 News Release March 4, 2016