VMS:TSX.V

Explorer to Producer

NAN: TSX.V

The World’s Next Nickel Belt

Astrologer’s Fund Conference

February 12, 2013

Discovering High Grade Copper Deposits in Manitoba, Canada

FORWARD-LOOKING STATEMENTS

NOTE:

Some of the statements contained herein may be forward-lookingstatements which involve known and unknown risks and uncertainties.Without limitation, statements regarding potential mineralization andresources, exploration results, and future plans and objectives of theCompany are forward-looking statements that involve various risks.The following are important factors that could cause the Company’s actualresults to differ materially from those expressed or implied by suchforward-looking statements: changes in the world wide price of mineralcommodities, general market conditions, risks inherent in mineralexploration, risks associated with development, construction and miningoperations, the uncertainty of future profitability and the uncertainty ofaccess to additional capital. There can be no assurance that forward-lookingstatements will prove to be accurate as actual results and futureevents may differ materially from those anticipated in such statements.VMS Ventures Inc. undertakes no obligation to update such forward-lookingstatements if circumstances or management’s estimates or opinionsshould change. The reader is cautioned not to place undue reliance onsuch forward-looking statements.

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VMS VENTURES INC.

CAPITAL STRUCTURE(as at February, 2013)

Issued & Outstanding: 129,668,399Warrants: 163,333Options: 8,442,500Fully Diluted: 138,274,232

QUICK FACTSVMS - TSX.V

Well funded; over $10.4M in the treasury

Reed Copper deposit discovered in 2007.

June 2010: Joint Venture signed with HudBay Minerals (T.HBM). HBM is project operator; VMS project costs carried to production. Project ownership is 70% HBM & 30% VMS.

Reed Copper Deposit Prefeasibility Mineral Reserves: 2.16M tonnes of 3.83% Cu, 0.48 g/t Au, 6.02 g/t Ag

Underground development underway and production to begin Q4 2013; cash flow in 2015

Other assets :

21M shares of North American Nickel (NAN.TSX.V)

a large 100% owned land package in the Snow Lake-Flin Flon Greenstone Belt in Manitoba, Canada; drilling planned for winter 2013

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Rick Mark, M.Ed (Admin) CEO & Chairman VMS & NAN: Rick has over 25 years experience in the public marketplace. He is also CEO & Chairman of Harvest Gold Corporation (HVG-TSX.V), a December 2005 "spin off" from VMS,and is the President and CEO of Pancontinental Uranium Corp. (PUC-TSX.V).

Neil Richardson P. Geo. COO, VMS & NAN: Neil has a long history of mineral exploration and mining experiencewith HudBay Minerals and others. As the COO of both companies, Neil is responsible for developing and implementingexploration programs .

Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. : President & Director NAN, VP Exploration VMS: Markhas 35 years of industry and government experience including Chief Geologist of the Mineral Deposits Section inManitoba. He is a recipient of the Canadian national award for outstanding geoscientific achievement.

John Roozendaal B.Sc, President of VMS, Director of NAN: John was the founding director of VMS Ventures Inc.He has 20 years of Mineral Exploration experience and was directly involved in the Reed Copper discovery.

John Pattison, P. Geo., B.Sc. Chief Geologist VMS and NAN: John worked with Falconbridge Limited andassociated companies for 19 years managing base metal, PGE and gold exploration projects throughout Canada andsouthern Africa. He is the lead project geologist for the Maniitsoq, Greenland nickel project.

VMS/NAN MANAGEMENT

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Independent Directors:Gilbert Clark, Director, NAN: Mr. Clark is a European based Geologist with more than 13 years of industry experience;principally in mining and international resource developments. He is currently an Investment Advisor with The SentientGroup, an independent private equity investment firm specializing in the global resources industry.

Don Whalen, Director & Audit Committee Chair, VMS: Don was Executive Chairman and Director of High River GoldMines. Before joining High River, he held numerous marketing, technical and management positions over a 29 year careerwith IBM Canada Ltd.

Jim Clucas, Director & Audit Committee Member, NAN: Jim was Chief Financial Officer of Inco’s Canadian operationsand has been involved in the development of several mineral deposits, including the Snow Lake Mine (High River GoldMines), Montana Tunnels (Pegasus Mining) and the Fenix Project in Guatemala. He was the founder of International NickelVentures Inc. which acquired and developed the Santa Fe/Ipora Nickel Laterite deposit in Brazil. Jim is currently Presidentand CEO of Search Minerals

Advisory Board Cashel Meagher B.Sc. P. Geo.: Cashel is currently Vice President South America Business Unit of Hudbay Minerals. He has worked with the technical and management teams at VMS Ventures and North American Nickel through the Reed Lake joint venture with VMS. Prior to joining Hudbay, Cashel held management positions with Vale Inco in exploration, technical services, and mine operations.

Mike Muzylowski: Mike has played key roles in the discovery of 15 Canadian mines, 13 in Manitoba, during his distinguished career as a geologist, geophysicist and senior mining executive.

5

INDEPENDENT DIRECTORS & ADVISORY BOARDS

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REED PROJECT RIBBON CUTTING CEREMONY, AUGUST 2012

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REED COPPER DEPOSIT

VMS-HudBay Reed JV

• VMS owns 30% of the project and is financed to production

• Prefeasibility Mineral Reserves: 2,157,000 tonnes of 3.83% Cu, 0.59% Zn and 0.48 g/t Au

• NPV 8% @ $3.50 Cu = $130,534,000; IRR 58%

• Borehole Pulse Electromagnetic targets indicate the deposit remains open at depth.

• Underground drill stations will explore for additional ore bodies and further define the size of the deposit.

Open Down Plunge

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REED PROJECT 3D VIEW

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REED PROJECT OVERVIEW

• 1,300 tonne/day operation; Mine life 5 to 6 years

• 72,000 to 78,000 tonnes copper concentrate per annum

• Mining method is longhole open stoping

• Manpower : 77 employees at full production

• Power : 3 generators production up to 5,000 kwh

• Concentrating will be at HBM Mill in Flin Flon

Slide 9

REED COPPER PROJECT CASH FLOW EXPECTED IN 2015

The high grade nature of the Reed Copper deposit gives the project strong leverage to copper prices.

The following table shows a copper price sensitivity analysis based on the operating parameters set out in the Prefeasibility Study Published in May 2012.

VMS Ventures Inc. VMS Ventures Inc.Cu = $3.50/lb USD  Cu = $4.00/lb USD 

Prices and Exchange Rate

Copper (USS/lb) $3.50 $4.00

Gold (US$/oz) $1,500.00 $1,500.00

Silver (US$/oz) $30.00 $30.00US$/CDN$ 1 1

Pre‐taxReed Cash Flow $249,673,000 $331,608,000

NPV8 $130,534,000 $195,010,000IRR 58% 74%

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ORE BODIES TEND TO GROW IN THE FLIN FLON BELT

After K. Gilmore (Hudbay Minerals), 2007

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VMS 100% OWNED PROPERTIESTHE VTEM SYSTEM

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VTEM COVERAGE OVERVMS’ 100% OWNED PROJECTS

• Recent massive sulphide discoveries, including VMS’s Reed Lake Deposit, were made with VTEM

• VMS Ventures has flown over 17,000 line-km of VTEM over its projects, majority flown at 100 m line spacing.

• 20 targets to be drilled this winter

Slide 16

VMS 2013 MILESTONESThe Reed Copper Project

• January: Completion of surface construction and commissioning of 1.6 MW generator• August: First production and completion of main ventilation fan• 2014: Continued underground development to the 260 m level and full production.

VMS 100% Owned PropertiesManitoba Projects

• $1.2M budgeted for winter 2013 drill program in the Snow Lake area. 3,000 m to 3,400 m of drilling is scheduled to test VTEM targets.

Sudbury Projects• Black Creek & Terra Incognita scheduled for prospecting/trenching in Q2, and diamond

drilling in Q1 – 2013.

North American Nickel (VMS owns ~21M shares)• District wide drill program planned for Maniitsoq in 2013; own VMS or NAN for discovery upside potential.

Slide 17

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NORTH AMERICAN NICKEL

CAPITAL STRUCTURE(as at February, 2013)

Issued & Outstanding: 80,660,193Warrants: 22,960,000Options: 7,683,000Fully Diluted: 111,303,193

NAN - TSX.VAcquired the Sudbury sized Maniitsoq property in

Greenland in August, 2011; 100% owned.

Site of the world’s largest impact structure

High-grade nickel intercepts in historic drill holes:9.85 m at 2.67% Ni and 0.60% Cu at Imiak Hill12.89 m averaging 2.24% Ni and 0.63% Cu at Fossilik

2012 Drill program completed at Maniitsoq. 1,550 m of diamond drilling; 535 samples analyzed.

Over 3,500 line km flown in a VTEM Plus survey in July, 2012; 75 conductive zones identified

Sudbury Ontario land position includes the Post Creek, Halcyon and Wahnapitae properties.

VMS Ventures owns ~21M shares of NAN.

QUICK FACTS

Slide 19

100% interest in a giant property covering 4,983 km2 of the highly prospective, but underexplored, Maniitsoq Impact structure.

Located on tide water (navigable year-round) on the southwest coast of Greenland, near the village of Maniitsoq.

MANIITSOQ PROJECT, GREENLAND

MANIITSOQ SUMMARY

Slide 20

Deposit Type:

Minimum size:

Location:

Property status:

Infrastructure:

Previous work:

Exploration rational:

Magmatic Ni+Cu+Co+PGE sulphide

10 to 15 Mt @ 1.0% Ni equivalent

Southwest Greenland

4,983 km2 in two exclusive mineral exploration licences.

None, but most targets are <50 km from ice-free tide water.

Prospecting and shallow drilling (average hole length <55 m) discovered numerous high grade Ni showings in 1960’s and 70’s. Airborne and surface geophysical surveys in the1990s failed to identify any drill targets.

Very possible that economic deposits were missed as historical geophysical technology had difficulty in the rugged terrain that characterizes the project area. Modern helicopter TEM flown perpendicular to strike at low altitude will have a much better chance of locating Ni+Cu+Co+PGE deposits.

MANIITSOQ MILESTONES2011 Identified Maniitsoq area as favourable for nickel sulphide deposits and acquired ground. Compiled all available geological and historical exploration data in digital GIS format. Located key historical showings and drill holes in the field. Confirmed effectiveness of helicopter TEM by flying test survey over selected areas.

2012 Acquired additional ground based on positive 2011 results. Completed helicopter TEM and magnetic surveys over high priority areas (totaling 860 km2) and

identified over 75 conductors. Commenced checking conductors on the ground. Drilled nine holes totaling 1,551 m in three target areas; made significant multi-element

intersections at two areas and encountered anomalous mineralization at the third.

Planned for 2013 Drilling to expand 2012 successes and to test new conductors identified by helicopter geophysics. Surface mapping, prospecting and sampling over selected conductors and throughout the project

area to identify additional drill targets. Mineralogical and petrographic studies of the mineralization and host rocks.

Slide 21Slide 21

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LOCATION: SOUTHWEST GREENLAND

• Situated in a safe, stable, mining-friendly jurisdiction.

• Straight forward permitting process.

• No land claims issues.• Mine development activities

nearby including road and deep water port construction (London Mining’s Isua Iron project).

Slide 23

WORLD CLASS NICKEL POTENTIAL

• High-grade, multi-element diamond drill intersections over long intervals.e.g. 123.94 m @ 0.81% Ni, 0.21%Cu, 0.03% Co and 0.26 g/t PGMincl. 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co and 0.52 g/t PGM

(NAN 2012 DDH: MQ-12-005)

• Underexplored (previous hole lengths averaged < 55 m) but lots of high-grade historical assays with consistent high sulphide Ni tenor (6-8%).

• Mafic intrusions hosting the mineralization are contaminated mantle melts and appear to have been part of a long-lived, dynamic magma conduit system triggered by a large impact (possibly the largest yet recognized on Earth).

• Centred on major, long-lived, deep seated structures that were active from the Archean to the Jurassic (2.8 billion years).

• New helicopter geophysical technology is proving far more effective than techniques used in the past; over 75 conductive zones identified to date.

Slide 24

Regional SettingMANIITSOQ GEOLOGY

• Property is centred on a giant, Archean-age (~3.0 Ga) impact site.

• Possibly the largest yet identified on Earth (Garde et al., 2012*).

DavisStrait

ManiitsoqProject

Maniitsoq ImpactMANIITSOQ IMPACTMELT ZONE EXTENT (APPROX.)

*Garde A.A., McDonald, I., Dyck, B. & Keulen, N. 2012: Searchingfor giant, ancient impact structures on Earth: the MesoarchaeanManiitsoq structure, West Greenland. Earth andPlanetary Science Letters 137–138, 197–210.

Slide 25

Regional SettingMANIITSOQ GEOLOGY

Post impact events included…• Formation of the Finnefjeld

Domain at 2992 ± 7 Ma in response to the impact.

• Intrusion of nickeliferous norites of the Greenland Norite Belt over a time period spanning at least one complete geomagnetic reversal.

• 3 episodes of lamprophyre intrusion (1800, 1200 and 600 Ma) with the latest involving emplacement of kimberlite.

• Intrusion of the Qaqarssuk carbonatite complex at 165 Ma.

Finnefjeld

Domain

Qaqarssuk Carbonatite

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SULPHIDE MINERALIZATION

• Mineralization consists of monoclinic pyrrhotite, pyrite, pentlandite and chalcopyrite.

• Often coarse-grained.• Likely to produce a

clean concentrate.• Inclusion-bearing

sulphide (i.e. sulphide breccia) is a common texture and indicates a dynamic system.

Pingo

Imiak Hill

Imiak Hill

Quagssuk

Slide 27

CONSISTENTLY HIGH NICKEL TENOR

• Sulphides have a relatively consistent nickel tenor of 6 to 8% Ni recalculated to 100% sulphide.

• Presence of pyrite means there is more S for a given amount of sulphide than in typical magmatic sulphide deposits consisting mainly of pyrrhotite-pentlandite and chalcopyrite.

Typical 100% sulphide mixtureof Po+Cp+Pn contains 35.7% S

Kerr, 2003

After Shore, 2000(Falconbridge Limited)

Nic

kel w

t. %

Sulphur wt. %

Ni vs. S for Historical GNB Drill Core

DRILL CORE

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PREVIOUS EXPLORATION: LACK OF CONDUCTIVE TARGETS

Cominco 1995 – 1996• 20,446 line-km of airborne GeoTEM EM and

magnetic surveying.– Lines 200-400 m apart oriented 080° (i.e.

subparallel to orientation of norites resulting in poor coupling).

– Large fixed wing aircraft had difficulty hugging the rugged terrain resulting in noisy data.

– Very few anomalies associated with norites.– Ground follow-up prospecting, minor surface

geophysics (<30 line-km) but no drilling.

Falconbridge 1993 & 2000• 100 line-km of UTEM over Imiak Hill and part of

Fossilik.– Lines 200 to 400 m apart.– No conductors detected and no drilling done.

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Regional SettingNOW MANY TARGETS: MODERN HELICOPTER GEOPHYSICS

• SkyTEM and VTEM helicopter-borne TEM surveys flown by NAN in 2011 and 2012 have detected over 75 conductive zones (circled in red on the adjacent map).

• This technology was not available to previous explorers in the belt.

• NAN has flown the areas outlined in green, which total 860 km2 and cover a major portion of the GNB.

• Interpretation of the 2012 data is in progress. To date over 75 conductive zones have been identified (circled in red on map).

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2012 DRILLING: CONFIRMATION & DISCOVERY

IMIAK HILL HOLE MQ-12-001 15.39 to 16.60 m

Spotty Hill – 1.00% Ni eq* /123.94 mincl. – 2.12% Ni eq* / 24.20 m

Imiak Hill – 1.18% Ni eq* / 26.98 mincl. – 1.60% Ni eq* / 16.64 m

1,551 METERS in 9 HOLES

Ni eq = Ni equivalent calculated based on spot prices for Ni, Cu, Co, Pd and Pt on Jan. 27, 2013.*

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SPOTTY HILL DRILLING

PURPOSE:To test near vertical, pipe-like VTEM con-ductor located along SW edge of a large exposure of disseminated sulphides hosted in norite.

RESULTS:123.94 m of high grade sulphides in hole MQ-12-005.

119 m of anomalous mineral-ization in MQ-12-009, which was drilled outside the conductor 75 m NW of MQ-12-005.

SPOTTY HILLSURFACE PLAN MAP

X-SECTION LOOKING NWMQ-12-005

MQ-12-005

MQ-12-0091213

3

4

910

11

13

12

56

78

34

12Model

ConductorPlates

123.94 m @ 0.81% Ni, 0.21% Cu, 0.03% Co, 0.26g/t PGM*Incl. 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co, 0.52 g/t PGMIncl. 8.20 m @ 2.39% Ni, 0.21% Cu, 0.07% Co, 0.60 g/t PGM

119.00 m @0.17% Ni

* PGM=Pt+Pd+Au

IMIAK HILL DRILLING

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MQ-12-001MQ-12-00126.98 m @ 0.98% Ni, 0.44% CuIncl. 16.64 m @ 1.36% Ni, 0.52% Cuand 5.12 m @ 2.20% Ni, 0.55% Cu

26.98 m @ 0.98% Ni, 0.44% CuIncl. 16.64 m @ 1.36% Ni, 0.52% Cuand 5.12 m @ 2.20% Ni, 0.55% Cu

MQ-12-002MQ-12-00266.08 m @ 0.55% Ni, 0.20% CuIncl. 5.15 m @ 1.22% Ni, 0.49% Cuand 14.18 m @ 1.33% Ni, 0.38% Cu

66.08 m @ 0.55% Ni, 0.20% CuIncl. 5.15 m @ 1.22% Ni, 0.49% Cuand 14.18 m @ 1.33% Ni, 0.38% Cu

MQ-12-00126.98 m @ 0.98% Ni, 0.44% CuIncl. 16.64 m @ 1.36% Ni, 0.52% Cuand 5.12 m @ 2.20% Ni, 0.55% Cu

MQ-12-00266.08 m @ 0.55% Ni, 0.20% CuIncl. 5.15 m @ 1.22% Ni, 0.49% Cuand 14.18 m @ 1.33% Ni, 0.38% Cu

PURPOSE:To drill conductors associated withmineralization perpendicular to strike.

RESULTS:Significant multi-element intersections in holes MQ-12-001 and MQ-12-002.

2012 drill results, combined with bore- hole EM (BHEM) surveys and historical drill information, indicate mineralization strikes N-S, dips vertically to steeply east, plunges south and is open at depth.

Historical Intersections

SURFACE PLAN MAP

IMIAK HILL LONG SECTION (LOOKING WEST)

Slide 33

MQ-12-00126.98 m @ 0.98% Ni, 0.44% CuIncl. 16.64 m @ 1.36% Ni, 0.52% Cuand 5.12 m @ 2.20% Ni, 0.55% Cu

MQ-12-00266.08 m @ 0.55% Ni, 0.20% CuIncl. 5.15 m @ 1.22% Ni, 0.49% Cuand 14.18 m @ 1.33% Ni, 0.38% Cu

OPEN

Trend (plunge)of mineralization

Slide 34

MANIITSOQ IN 2013Diamond DrillingTo follow-up 2012 drilling at Imiak, Spotty and possibly P-59 and to test other VTEM targets throughout the project.

VTEM SurveysTo cover several showings and intrusions not previously flown.

Induced Polarization To map out zones of disseminated sulphide mineralization at Spotty Hill and other showings

Field Mapping and SamplingTo ground truth and sample VTEM anomalies and zones of disseminated mineralization exposed on surface.

Slide 35

INVESTOR RISK MITIGATION

100% ownership; district-scale land package (>Sudbury) Public Co management/financing experience Technical team is deep Secure political jurisdiction and no land claims issues Accessible, along year-round pack ice free coast line Historic exploration data is remarkable ($10M plus) Geology

Abundance of Ni-Cu occurrences at surface & in drilling High Nickel Tenor – consistent and economic grade Major, long lived structures Large-scale mafic igneous event associated with giant impact

New technologies in “old” camp work– 75 EM anomalies

VMS:TSX.V

Explorer to Producer

NAN: TSX.V

The World’s Next Nickel Belt

Astrologer’s Fund Conference

February 12, 2013

Discovering High Grade Copper Deposits in Manitoba, Canada