Cuale High Sulphidation Project

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1 Evolving Exploration VALUE THROUGH DISCOVERY Cuale High Sulphidation Project Phase 2 Technical Presentation May 15, 2018

2 Forward Looking Information This presentation includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company ) expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

3 Cuale Project A New Gold Project in Mexico GOLD High Sulphidation Epithermal (HSE) gold target in Southern Sierra Madre, Jalisco HSE targets are known for their low capital cost, higher margins and long mine life La India Mulatos El Sauzal HSE deposits in the Sierra Madre include Goldcorp's El Sauzal (1.9 million ounces gold), Alamos Gold's Mulatos (5.0 million ounces gold) Agnico Eagle's La India (3.0 million ounces gold) 100% owned by Evrim *1% base metal NSR and 1.5% precious metal NSR payable to Altius Minerals

4 Cuale Project Location Two hour drive south of Puerto Vallarta Agnico Eagle Mines' Barqueño project (663,000 oz gold and 2.2 million oz silver), and Endeavour Silver's Terronera project (311,000 oz gold and 37 million oz silver) 232 km 2 claim size Excellent infrastructure with roads and power crossing the property Puerto Vallarta Cuale VMS - Historic Mine (1980 s) 3.22% Zn, 1.03% Pb and 0.83 g/t Au Terronera - Endeavour Silver 311koz Au and 37Moz Ag Barqueño - Agnico Eagle 663koz Au and 2Moz Ag Cuale - Evrim New high sulphidation project Guadalajara Legend City Mineral Deposit Evrim Claim Major Road

5 Cuale Project Regional Geology The Cuale Project is located in western Jalisco within the Jalisco Block (JB in image), a part of the Guerrero terrane The Jalisco Block is a Cretaceous to Paleocene volcano-sedimentary sequence deformed and metamorphosed by the emplacement of large batholiths To the north of the block Eocene to mid- Miocene silicic volcanism forms the Sierra Madre Occidental which at its southern margin is, Cuale Overlain by late Miocene to Quaternary bimodal volcanism forming the Trans (modified from Ferrari et al. 1999) Mexican Volcanic Belt

6 Cuale Project Local Geology Previous exploration in the area identifies two styles of mineralization; The historic Cuale VMS district which has produced 2.5 million metric tons (Mt) of ore averaging 3.22 percent Zn, 1.03 percent Pb, 0.23 percent Cu, 103 g/t Ag and 0.83 g/t Au from more than 18 small but high-grade orebodies (Bissig et al. 2008) Hosted in Jurassic to Cretaceous volcanics and an epithermal vein relationship/overprint is recognized Minor mesothermal quartz and gold veins hosted in deformed sediments associated with the Late Cretaceous granite intrusions (from Bissig et al. 2008) The San Juan prospect within Evrim s concession is this style of mineralization

7 Cuale Project Exploration History Some evidence small scale mining ~200 years ago Evrim acquired the project via staking in 2013 after completing a stream sediment sampling program which targeted gold rich VMS targets Follow-up exploration identified gold mineralization at La Gloria Formal title was granted in November 2017 A phase 1 exploration program of mapping and trenching was completed in December 2017 Additional concessions were staked to west of the La Gloria prospect in February 2018 The phase 2 exploration program consisted of additional trenching, mapping and two Induced Polarization (IP) survey lines were completed in February and March 2018 Additional concessions were staked to the north in April 2018 Trenching at La Gloria prospect

8 Cuale Project Looking West at La Gloria Prospect Dacite Dome La Gloria trenches North Dome Quartz Ribs Extent of alteration

9 Cuale Project Reconnaissance Sampling Cuale Project Gold in Soil (g/t) N Cuale Project Gold in Rocks (g/t) N North Dome OPEN San Juan prospect 0.58 OPEN Dacite Dome 2km 2km Initial sampling identified gold mineralization in the centre at the top of the hill at La Gloria

10 Cuale Project Lithologies QALF Ferricrete with Wifi Tuff clasts RHYBr Wifi Tuff (Block and Ash) DACTo Dacite RHYTo Rhyolite (Porphyritic) RHYBx Silica-Hematite (Si-He) Breccia RHYF Rhyolite Flows ANDSo Andesite RHYTl Lapilli Tuff RHYTlx Lapilli Crystal Tuff Older Younger RHYBr RHYF 10cm 1cm RHYBx RHYTl 10cm 1cm GRNP Granite METSj Sediments (Metamorphosed) METSj 10cm RHYTlx 1cm

11 Cuale Project Lithology Map Mapping defines a 4 x 3.5km rhyolitic volcanic centre unconformably overlying early Cretaceous-Paleocene metasediments and granite intrusives The volcanic centre contains lapilli crystal tuff, lithic tuff, rhyolite flows, rhyolite and dacite intrusions, hydrothermal breccia, andesite and block and ash tuff Units form a dome field that was actively depositing tuff units and flows before, during and after the formation of a high sulphidation gold system Erosion and post mineralization faulting has exposed the buried high sulphidation system IP Line IP Line La Gloria trenches Not yet mapped N

12 Cuale Project Alteration Silica: A late milky quartz with specular hematite overprints the saccharoidal quartz alteration and is commonly associated with drusy quartz veins Silica: Saccharoidal quartz with specular hematite varying from massive to rarely vuggy. This style of alteration easily breaks to a fine sandy powder. Vuggy zones are less common but occur within this alteration. Advanced Argillic (AA): Pyrophyllite with minor dickite alteration on immediate margins of silica alteration Argillic: Bleached rocks due to kaolinite and illite alteration Propylitic: Typically below 1050 meters above sea level is distal chlorite and smectite alteration Distal Proximal Silica: Late milky quartz overprint Silica: Powdery saccharoidal quartz Argillic: Kaolinite and hematite 1cm 1cm 1cm Silica: Vuggy saccharoidal quartz AA: Pyrophyllite-dickite Propylitic: Chlorite and smectite 2cm 1cm 1cm

13 Cuale Project Alteration Map Cover: Not an alteration zone but labelled as the post mineral cover contains abundant silica/aa clasts Silica: A late milky quartz with specular hematite overprints the saccharoidal quartz alteration and is commonly associated with drusy quartz veins Silica: Saccharoidal quartz with specular hematite varying from massive to rarely vuggy. This style of alteration easily breaks to a fine sandy powder. Vuggy zones are less common but occur within this alteration. Advanced Argillic (AA): Pyrophyllite with minor dickite alteration on immediate margins of silica alteration Argillic: Bleached rocks due to kaolinite and illite alteration Propylitic: Typically below 1050 meters above sea level is distal chlorite and smectite alteration IP Line IP Line La Gloria trenches N

14 Cuale Project Terraspec Sampling N La Gloria trenches

15 Cuale Project Phase Two Trench Results Shallow subcrop at top of La Gloria zone has allowed for trenching to be effective Four trenches have been completed or extended in Phase Two Gold correlates with silver (1-20g/t), arsenic (20-50ppm), copper ( ppm), iron (5-15%), molybdenum (2-10ppm) and antimony (10-25ppm) in samples Trench From To Width Au (g/t) Top Cut Au (g/t) [Cut at 30.0 g/t] Comment Trench n/a Whole trench* Including n/a Including n/a Including n/a And n/a Including n/a And n/a And n/a Trench Whole trench Including (Overburden to west exceeded reach by hand) Trench n/a Whole trench* Including n/a Trench Whole trench* Including Including Including

16 Cuale Project Phase Two Trenching Photos Sampling Trench 1 Very fine gold without any coarse nuggets panned from powdery saccharoidal quartz in Trench 4 Saccharoidal quartz and hematite from sample in Trench 4 grading 29.9 g/t gold

17 Cuale Project Induced Polarization Survey Two lines of a 100m spaced poledipole Induced Polarization (IP) survey were completed in Phase Two Line crosses the La Gloria zone Low chargeability indicates any mineralization within 400m of surface is likely to be oxidized A strongly resistive 100m deep x 300m wide zone occurs directly beneath the mineralized trenches and is interpreted to be massive to vuggy quartz A further 400m wide zone occurs under thin cover to the west and potential feeder target is identified at ~250m below surface

18 Cuale Project Induced Polarization Survey West and north-west of La Gloria zone is masked by units that cover the system; rhyolite flows, Wifi Tuff, Si-He breccia(?) La Gloria is a small erosional window into the mineralized part of system North-northeast trending normal faults down-drop geology to the east of La Gloria zone La Gloria zone Trench 1 and 4 samples plotted Massive Quartz Rib Photo taken looking to northwest. Skyline closely traces IP line The photo is clipped to approximately match the eastings of the IP section below. Faults shown in the photo are offset to the east of the resistivity section due to the north-west view of the photo. Western resistivity anomaly La Gloria zone Vuggy Quartz (100 x 300m) Trench 1 and 4 samples plotted Massive Quartz Rib Ohm metres Phyllite Feeder target Tuff 500m IP line Resistivity Clay/Pyrite alt?

19 Cuale Project Induced Polarization Survey Line is 500m north of the first line Similar low chargeability indicates any mineralization within 400m of surface is likely to be oxidized A strongly resistive 1200m by m deep highly resistive ledge associated with strong silicification and minor anomalous gold at surface A feeder target is defined at m East

20 Cuale Project Potential Under Thin Cover? Si-He Breccia (Late or post mineral) Rhyolite flow Capping mineralization(?) La Gloria trenches Mineralized Lapilli Tuff Photo looking south from the North Dome Wifi Tuff (Block and Ash) Flat area of post-mineral cover with abundant silicified clasts some mineralized, that potentially covers mineralized Lapilli Tuff North Dome Wifi Tuff with abundant silicified clasts some mineralized

21 Cuale Project Immediate Expansion Targets 1 La Gloria zone; outcropping gold mineralization 2 Pervasive quartz alteration in lapilli tuff beneath rhyolite flow and gold in soil anomalism North Dome 5 6 N 3 Western resistivity anomaly beneath outcropping argillically altered lapilli crystal tuff 4 Post-mineral Wifi Tuff with mineralized clasts masking underlying units and alteration North Dome; post-mineral Wifi Tuff with mineralized clasts 6 El Cantón; saccharoidal quartz with anomalous gold in rock-chips and soil samples Quartz Ribs; strong quartz alteration in downthrown block 250m

22 Cuale Project La Gloria zone Trench 1: 193.5m grading 2.09g.t gold Trench 4: 106.2m grading 13.17g/t gold Photo looking south from the North Dome A new oxide high sulphidation project with outcropping gold mineralization

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