ADVANCING A PROSPECTIVE PORTFOLIO TO DISCOVERY SUCCESS. Copper - Gold - Silver. CORPORATE PRESENTATION August 1,

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1 ADVANCING A PROSPECTIVE PORTFOLIO TO DISCOVERY SUCCESS Copper - Gold - Silver CORPORATE PRESENTATION August 1, 2018

2 Cautionary Statement Certain statements contained in the following presentation constitute forward-looking statements. Such forward looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Dr. Demetrius Pohl, PhD., Certified Professional Geoscientist (CPG), an independent consultant, is the Company s Qualified Person for the purposes of National Instrument Standards of Disclosures for Mineral Projects of the Canadian Securities Administrators, and is responsible for the accuracy of, and has verified, the technical information in this presentation and has approved its written disclosure. 2

3 What We Are WHAT WE DO WHERE WE DO IT CHILE (THE PLACE TO BE) Copper - gold - silver explorer in Chile Consolidated land from 2014 to 2016 >US$100M historic exploration on portfolio Expertise in porphyry/epithermal deposits Partnering projects, generating royalty interests Chile Mining country main economic activity Focused in the northern desert Safe country to work in Politically and fiscally stable Legal system works Both Major and Mid-Tier players are present Exploration investment is re-awakening WHAT WE HAVE * Currently nonproducing ~200,000 Hectares of mineral property interests 26 project interests / ~35 targets 16 projects available for Option / JV / Sale 3 Option / JV or Sale / Royalty Agreements 7 Royalty Interests * 100Km 3

4 Who We Are TIMOTHY BEALE JOHN DAVIDSON MICHAEL WINN RAYMOND JANNAS COLIN BIRD RALPH RUSHTON MARIO SZOTLENDER DEMETRIUS POHL PRESIDENT & CEO, DIRECTOR 30+ years base metals & gold experience in South America EXPLORATION MANAGER 40+ years precious metals experience in South America CHAIRMAN 30+ years investment/financial experience in mining sector DIRECTOR 30+ years gold & base metals experience in South America DIRECTOR 30+ years mining management experience DIRECTOR 30+ years exploration, business dev, IR experience ADVISOR 30+ years investment/financial experience in Latin America INDEPENDENT CONSULTANT & QP 40+ years gold & base metals exploration experience 4

5 Share Structure SHARE STRUCTURE August 2018 Shares Outstanding 167,405,027 Options $0.25 (Jul 2019) - $0.15 (Aug 2019) - $0.25 (May 2020) Warrants $0.42 (Apr 2019) - $0.11 (Apr 2019) Fully Diluted 241,759,817 Stock Price C$0.02 (July 2018) Market Cap C$3,35M (July 2018) 5

6 Portfolio - 26 Project Interests / ~35 Targets / 200,000 Hectares COPPER 15 Projects MONTEZUMA MORROS BLANCOS BLOCK 2 GOLD 8 Projects LAS PAMPAS VICTORIA SUR LORO IOCG / VEIN 3 Projects T4 LAS ANIMAS COLLA KANANCHIARI 6

7 Multiple Strategies to Advance the Portfolio Consideration of spin-outs or strategic project investments Rapid advance of projects, including drill testing In exchange for stock and royalty E.g. Deals under consideration VALUE CREATION THROUGH SPIN-OUT JV PARTNER FUND PARTNER OPERATE Experienced JV partner funding Ability to operate and manage Partner earns majority interest, or 100% in exchange for cash & royalty E.g. Cerro Buenos Aires MULTIPLE STRATEGIES FOR SUCCESS All-or-nothing option agreement or direct sale Focus on Royalties with cash payments and/or stock E.g. Austral San Guillermo ROYALTY CREATION JV PARTNER FUND RVL OPERATE Passive partner funding RVL operates and manages Partner earns majority interest, or 100% in exchange for cash & royalty E.g. Loro 7

8 Current Deals Option Agreements: Los Azules Cu-Mo Option, sale and royalty agreement with Masglas Copper-rich tourmaline breccia pipe district with possibilities for porphyry copper Loro Au-Ag Option, sale and royalty agreement with Hochschild (Revelo operating exploration) Epithermal gold-silver veins new discoveries first drill test end April 2018 Cerro Buenos Aires Cu-Au-Mo Option, JV and royalty agreement with Teck Porphyry copper target underneath extensive lithocap Royalty Agreements *: San Guillermo, Reprado, Magallanes, Limbo Au-Ag Austral Gold Victoria Norte Cu-Mo-Au Hochschild Q Inti Breccia Cu Masglas Colla Kananchiari Polymetallic Masglas * Non-producing to date 8

9 Montezuma Project (Copper-Gold-Moly) Cu Au Mo Radomiro Tomic Cu Mine Ministro Hales Cu Mine Chuquicamata Cu Mine Mina Sur Cu Mine Calama Mining Town Montezuma Property In the Shadow of the Headframe View of Chuquicamata Copper Mining District centered 30 Km N of Montezuma Project 9

10 Montezuma Project Cu Au Mo Copper-Gold-Moly exploration project Northern Chile Centred in the heart of one of the world s largest copper mining districts Midway between the Chuquicamata District and the Centinela District Porphyry copper-gold-moly exploration targets Major hydrothermal alteration systems with porphyry copper-gold characteristics Significant historic drill intercepts indicating presence of mineralised systems Multiple targets drill ready Major district-scale exploration play Northern Chile Desert terrane Excellent infrastructure, easy access Deal type Spin-out into Newco / Shell with stock, participation, royalty, work commitment Possible traditional farm-out 10

11 Montezuma About the Project Cu Au Mo Exceptional Mineral Belt Domeyko Cordillera 3 of world s top 6 copper mining districts Exceptional Jurisdiction Chile geology, government, law, infrastructure, people, services Exceptional Location Northern desert along direct trend and neighbour to the giant Chuquicamata and Esperanza copper deposits excellent access Exceptional Land Position ~30,000 Ha 100% owned * Exceptional Prospects Multiple prospects - drill intercepts porphyry Cu-Au type systems (* Underlying 1% NSR Royalty) 11

12 Montezuma - District Setting Cu Au Mo CHUQUICAMATA DISTRICT (Codelco) * - ~ 130 Mt Contained Cu - ~ 850 Kt fine Cu production / year - 3 mines (Chuquicamata, Radomiro Tomic, Ministro Hales) - 5 undeveloped deposits (Toki Cluster) MONTEZUMA PROJECT (~ 30,000 Ha) Key faults of the Domeyko Cordillera West Fissure Fault / Centinela Fault Multiple porphyry & brecciation events Similar geologic ages to Chuquicamata & Esperanza CENTINELA DISTRICT (Antofagasta / Marubeni) * 10 Km - ~ 20 Mt Contained Cu - ~ 200,000 t fine Cu production / year - 2 mines (Esperanza, El Tesoro) - 4 undeveloped deposits (Centinela Cluster) (*) Production & Contained Metals Figures from Company Websites & Academic Publications 12

13 Montezuma Key Targets Cu Au Mo Paleozoic basement with numerous small workings for Cu, with lesser Au Extensive intermediate argillic alteration in transition to phyllic (sericitic) alteration New, undrilled target defined by Revelo, associated with phyllic alteration and chalcocite-rich structures Area to N of principal target post-mineral cover MELISSA 10 Km Valid target at L with morphology of Min Hales Dacite porphyry in drill hole MODD-34 with age date in total rock of /- 1.3 Ma (K/Ar) Open potential with magnetic anomalies possibly related to porphyry centres +10 km of discontinuous outcrops of Eocene-aged porphyry intrusions and breccias Intense hydrothermal alteration from potassic to phyllic to intermediate argillic to advanced argillic Multiple porphyry and breccia types (including phreatomagmatic breccias) Mineralised intercepts in drill holes Porphyry in drill hole MODD38 with age date of /- 0.2 Ma (U-Pb zircon) ANOMALY L & F ARRIEROS (COVERED) ANOMALY C-A-B 13

14 Montezuma Selected Results Cu Au Mo Melissa High-grade Structures Chalcocite + Copper surface Porphyry Cu-Au Target At Depth Anomaly 304.4m MODD % Cu g/t Au + 2.8g/t Ag (from 277m) Anomaly 239.2m MODD Km 0.55% Cu g/t Au + 3.4g/t Ag (from 226m) 14

15 Victoria Sur Project (Gold-Silver +/-Copper) Au Ag Cu Victoria I & II Ag-Au Cenizas Au-Ag-Cu Nueve Vidas Au + Au-Ag Magnetic Anomalies Quebrada (dry valley) Chaco Domeyko Cordillera at Victoria Sur View looking SE showing Quebrada Chaco with Nueve Vidas and Cenizas beyond Key Targets at Victoria Sur 15

16 Victoria Sur Project Au Ag Cu Gold + Gold-Silver-Copper exploration project Drill ready Northern Chile Significant historic trench and drill intercepts E.g. 10.5g/t Au + 29g/t Ag E.g. 0.40g/t Au (including 0.72g/t Au) Porphyry-gold + Epithermal gold-silver-copper targets High-grade epithermal structures Bulk-tonnage porphyry gold target - multi-gram gold and + oz silver - significant size potential Possible epithermal or porphyry copper-gold at depth Mineralisation starts at surface Northern Chile Desert terrane Easy access / moderate altitude Deal type Spin-out into Newco / Shell with stock, participation, royalty, work commitment Possible traditional farm-out 16

17 Victoria Sur About the Project Au Ag Cu Exceptional Mineral Belt Domeyko Cordillera 3 of world s top 6 copper mining districts Several gold deposits and gold-rich porphyries Exceptional Jurisdiction Chile geology, government, law, infrastructure, people, services Exceptional Location Northern desert midway between world-class mining districts, good access, moderate altitude Exceptional Land Position ~6,600 Ha 100% owned * Exceptional Prospects Drill intercepts - porphyry & epithermal Au-Ag-Cu (* Underlying 1% NSR Royalty) 17

18 Victoria Sur District Setting Au Ag Cu PanAmerican Highway LA ESCONDIDA DISTRICT * (BHPB, RT, Barrick, Antofagasta, Mitsubishi) - Copper-Moly-Gold District - ~ 144 Mt Contained Cu - >> 1 Mt fine Cu production / year * (world s largest) - 3 mines (La Escondida, Escondida Norte, Zaldivar) - 1 undeveloped deposit (Pampa Escondida) Au, Ag, & Au-Ag mines current & historic production VICTORIA SUR PROJECT (~ 6,600 Ha) Prolific mineral belt along trend from world-class mines and deposits Key controlling faults of the Domeyko Cordillera Porphyry-Au + Epithermal Au-Ag + Ag-Au +/- Cu EXPLORADORA DISTRICT (Codelco / Antofagasta) * 20 Km - Copper-Gold and Gold-Silver District - Porphyry Cu-Au discovery - LS Epithermal Au-Ag Veins (*) Production & Contained Metals Figures from Company Websites & Academic Publications 18

19 Victoria Sur Key Targets Au Ag Cu CENIZAS NUEVE VIDAS High-sulphidation epithermal Au-Ag-Cu structures Possible epithermal or porphyry Au-Cu potential at depth Extensive base of lithocap-style alteration Sericite, (muscovite), dickite identified intense leaching and supergene effects Clastic, volcaniclastic and volcanic sequences of Late Jurassic Cretaceous age Andesite and rhyolite porphyry plugs Zoned propylitic alteration to S and W Jarositic / limonitic breccia zones with highly anomalous Au & As Porphyry Au target Cross-cut by high-sulphidation epithermal Au- Ag-Cu structures Intrusive porphyry complex with diorite / tonalite Chlorite-epidote-magnetite veining and alteration with highly anomalous Au in dioritic porphyry Strong magnetic anomaly Cross-cutting jarositic / limonitic structures with high-grade Au-Ag Contact skarn alteration with sediments OTHER POTENTIAL TARGETS 19

20 Victoria Sur Selected Results Au Ag Cu CENIZAS Surface sampling: * 0.35g/t Au 0.66g/t Au 0.47g/t Au 0.44g/t Au Including 1.34g/t Au Including 0.64g/t Au Including 0.58g/t Au NUEVE VIDAS Higher-grade, cross-cutting structures: * 6.69 g/t Au g/t Ag (+ 0.11% Cu) 10.5g/t Au + 29g/t Ag Including 28.55g/t Au g/t Ag 8.94g/t Au g/t Ag Lower-grade, disseminated gold within the altered diorite porphyry complex: * 0.70g/t Au 0.83g/t Au 1.03g/t AU 0.85g/t Au 0.40g/t Au Including Au Including 0.72g/t Au * At this time, it is not known if these intercepts represent true widths 20

21 Victoria Sur Nueve Vidas Target Section & IP Profile Cu Au Mo Nueve Vidas ( N) Schematic W-E Section Porphyry-Gold Target Porphyry Au target Nueve Vidas diorite complex Diorite / quartz-diorite / tonalite porphyries Inter-mineral gold-rich porphyry (principal target) with associated potassic alteration Significant IP chargeability anomaly suggests large mineralised target extending to depth Contact metamorphism with surrounding calcareous sedimentary sequences Au-rich vein / structural target Cross-cutting HS structures with high-grade Au-Ag (-As-Cu-Zn) 21

22 In the Shadow of the Headframe STAGE EXPLORATION LOCATION NORTHERN CHILE METALS COPPER-GOLD-SILVER TENEMENT MAJOR LAND POSITION PORTFOLIO MULTIPLE TARGETS TEAM HIGHLY EXPERIENCED 22