CORPORATE PRESENTATION March 2019 TSX.V: PGE DEVELOPING THE STILLWATER WEST PGE-NI-CU PROJECT IN MONTANA, USA www.grouptenmetals.com
Forward Looking Statements This presentation contains forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company s projects, and the availability of financing for the company s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Group Ten Metals Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The following non-independent Qualified Persons (as defined by National Instrument 43-101) supervised and approved the release of technical information in this disclosure: Mike Ostensen, P. Geo. (Montana) Debbie James, P. Geo. (Yukon, Ontario, BC and Alaska projects) 2
Asset Overview & Fundamentals World-class potential. Prime districts. Low risk. Focus Discovery and development of world-class polymetallic (technology metals plus PGEs, gold) deposits through resource delineation stage Assets All projects in brownfield districts, adjacent to mines or advanced-stage projects, with excellent infrastructure Land positions acquired strategically during bear market 100% interest in all projects Team Experienced team with expertise in PGM-Ni-Cu exploration Kluane PGE-Ni-Cu Project Adjoining and on-strike with Nickel Creek Platinum s worldclass PGE-Cu-Ni-Co deposit Yukon Black Lake-Drayton Project High-grade gold in the Rainy River Belt CANADA Stillwater West Project Adjacent to Sibanye-Stillwater s PGE Mines with over 80Moz of Pd+Pt at over 16g/t* The Stillwater district has a rich mining history for PGEs, Ni, Cu, Cr, other commodities Group Ten is the first to consolidate a large land position with the extensive database - including almost 12,000m of core - and apply modern geological models developed in South Africa at Ivanhoe s Platreef and Anglo American s Mogalakwena mines Compilation and analysis by Group Ten shows the potential for much larger mineralized systems than has been previously recognized Montana USA Ontario *Report on Montana Platinum Group Metal Mineral Assets of Sibanye-Stillwater, November 2017, Measured and Indicated Resources of 57.2 million tonnes grading 17.0 g/t Pt+Pd containing 31.3 million ounces and 92.5 million tonnes grading 16.6 g/t containing 49.4 million ounces. 3
Management Team Veteran management with proven track record in exploration and mine development Greg Johnson Executive Chairman 30 years experience in exploration, development and financing of large-scale mining projects Broad capital markets experience, raising over $650 million in project financing Co-founder of NovaGold, former President & CEO of Wellgreen Platinum and South American Silver Exploration Manager Placer Dome (now Barrick Gold) Co-credited with discovery or expansion and advancement of major precious and base metal deposits Michael Rowley President & CEO, Director 25+ years executive experience in the exploration, mineral processing, and mine environmental industries Experience in all aspects of the exploration industry, including capital markets and operations Director of Bravada Gold, Granite Creek Copper, and Sierra Mountain Minerals Gregor Hamilton Director Over 20 years of mining sector experience in investment banking, corporate finance, geology Capital markets expertise and global finance contacts for mining, M&A and corporate strategy Successful entrepreneur in mining, technology and agribusiness in Canada and South America Bill Harris Director Founder, former Executive of Triumph Gold, and President and CEO of Midnight Mining Lifelong Yukoner, prospector, mining entrepreneur Strong Corporate & Technical Management Group Ten has attracted a highly qualified team with global experience in: Financing & Markets Over $650M raised Global banking, evaluation and M&A expertise Management Combined 100+ years of corporate and exploration management, with juniors and majors Exploration and Development Extensive first-hand experience in the Stillwater and Bushveld districts, including the Platreef, among other top-tier districts and producers Tim Thiessen Chief Financial Officer 20+ years experience in both public & private company operations, including 15 years in mineral resources sector including with Metallic Minerals, Granite Creek Copper, Foran Mining, SnipGold and Aurcana; former VP Finance for Endeavor Financial, and auditor for Deloitte s mining practice Alicia Milne Corporate Secretary 20+ years of corporate secretarial & securities compliance experience with NYSE, TSX & TSX Venture listed companies, including Pretium Resources Member of the Governance Professionals of Canada, and Board Member of Directors of Women in Mining Brian Cloney, CA Advisor, Finance Over 35 years experience in public accounting and financial consulting experience with a particular focus on the mining sector Past CFO of a number of publicly-traded resource companies, and a Director of Group Ten from March 2014 to June 2016 4
Technical Team World-class team with experience at Stillwater, Bushveld, Platreef David Broughton, Ph.D. Senior Technical Advisor 30+ years experience in mineral exploration, including the discovery of two major mineral deposits with Ivanhoe Mines, including the Flatreef PGE-Ni-Cu deposit in the Bushveld region Co-awarded AME BC s 2016 Colin Spence Award for Excellence in Global Mineral Exploration (Flatreef) and PDAC s 2015 Thayer Lindsley Award for International Mineral Discovery (Kamoa) Formerly held senior exploration roles with Phelps Dodge, Freeport, and Cyprus Amax Craig Bow, Ph.D. Chief Geologist 40+ years experience in global exploration, mine geology, & project management, including exploration of the J-M Reef & advancement of the initial Stillwater Pd-Pt mine to production Recognized expert on global PGE-Ni-Cu systems, part of the team responsible for multi-million ounce Arctic Platinum partnership (Gold Fields/Outokumpu), former Exploration Mgr for Gold Fields, Sr. Technical positions for Cyprus Amax, Newcrest & AngloGold Ashanti Mike Ostenson, P.Geo. Project Geologist 20 years experience in the Stillwater district including former VP Exploration for Premium Exploration, Senior Technical roles for Beartooth Platinum, Stillwater Mining Co. and AngloGold Justin Modroo, P.Geo. Project Geophysicist 20 years industry experience, including work in the Stillwater Complex with Premium Exploration and Beartooth Platinum Michael Johnson, P.Geo. Exploration Manager, Stillwater West 40+ years of professional geological and executive experience, including 18 years in senior management positions with global public mining companies, including work in the Stillwater district as President and CEO of Beartooth Platinum Corp. Harry Burgess, P.Eng. Advisor, Mining & Mine Engineering 40+ years of mine engineering and management experience including senior positions with Anglo-American and others in Zambia and South Africa Co-founder of Micon International Limited Garth Kirkham, P.Geo., P.Geoph. Advisor, Geology & Mining 34+ years experience in the mineral exploration industry as a board member, leader, and geoscientist Founder of Kirkham Geosystems Ltd, was a founding director of Group Ten Numerous professional designations and awards Doug Warkentin, P.Eng. Advisor, Processing & Metallurgy 30+ years of experience in the mining and mineral processing industries Currently Senior Metallurgist at Kemetco Research Inc. Co-founder of Group Ten Metals and served on the Company s Board to July 2014 5
Exposure to Key High-Demand Commodities Demand Growth Primary demand for catalysts (both auto and industrial), also military uses, fuel cells, jewelry Growing demand from auto sector with strong vehicle sales, tighter emissions standards Supply Constraints, Political Risks Majority of supply from high-risk countries (South Africa, Russia) Positive price projection based on increased demand, declining production and physical stores Demand Growth Significant and growing demand from electric vehicle batteries, plus industrial uses, alloys, stainless steel One of the most important global metals markets at >USD$20 billion per year, and growing Supply Constraints Majority of global nickel ore supply is not tech-compatible (62% laterite vs 38% nickel sulphide) Recent supply disruptions from Philippines and Indonesia, two of the largest exporters Demand Growth Significant and growing demand from batteries, especially high-charge density uses (eg electric vehicles) Listed as a strategic metal in the US, major consumers (eg Apple, Tesla) and China securing direct supply Supply Constraints Majority of supply is high-risk (Congo) Limited first-world resources Demand Growth A top performing commodity Growing demand for infrastructure, electric vehicles batteries Supply Constraints Diminishing resources/grades ( peak copper ), need new resources/mines Demand Historic store of value, also jewelry, industrial Hedge against political uncertainty, currency risks Supply Diminishing resources/grades ( peak gold ), need new resources/mines 6
Stillwater West Project & Team Overview Brownfields exploration in one of the world s largest and highest grade PGE-Ni-Cu districts Stillwater Igneous Complex is a 2.7B-year-old layered intrusive mafic-ultramafic complex with geology similar to South Africa s Bushveld Complex Stillwater Igneous Complex is 47 km long and up to 8 km, rich in PGEs, Ni, Cu, Co, Cr Existing road access and power infrastructure with three operating mines in the Stillwater district Experienced team with over 60 years of combined expertise in the Stillwater District and globally on PGE-Ni-Cu systems Board and management with extensive global experience in exploration and mining Stillwater Mine - Montana EAST BOULDER MINE (Sibanye-Stillwater) STILLWATER MINE (Sibanye-Stillwater) 7
Stillwater Complex, Montana, USA Exploration History A rich history of discovery of base and precious metals 1880s Discovery and mining high-grade nickel and copper in lower Stillwater series 1930s to 1960s Exploration and mining of high-grade iron and chrome 1960s to 1970s Exploration for nickel and copper 1970s to 1980s Discovery and development of high-grade PGEs at the J-M Reef deposit 1986 Stillwater Mine opens on J-M Reef 2002 East Boulder Mine opens on J-M Reef May 2017 Sibanye Gold announces $2.2B acquisition of Stillwater Mining, Blitz Mine opens on J-M Reef June 2017 Group Ten announces acquisition of major claim block adjoining Sibanye-Stillwater January 2018 Group Ten announces highly anomalous Pd, Pt, Au, Cu, Ni, and Cr in soils across 18km strike February 2018 Group Ten announces 12 major conductive anomalies, coincident with elevated soil results May 2018 Group Ten announces priority PGE-Ni-Cu-Co targets in the Iron Mountain target area July 2018 Group Ten expands land position at Stillwater West September 2018 Ivanhoe s Dr. David Broughton joins Group Ten as Senior Technical Advisor December 2018 Group Ten announces discovery of Hybrid Zone in Chrome Mountain target area January 2019 Group Ten reports high-grade PGE & Au from the Wild West and Boulder target areas February 2019 Group Ten reports thick mineralized intercepts in the Chrome Mountain target area Group Ten geologists inspect the mafic - ultramafic series above Sibanye-Stillwater s Stillwater Mine, one of three mines in the Stillwater Complex. 8
Stillwater West PGE-Ni-Cu Project District - Mines, Infrastructure, Land Status STILLWATER WEST PROJECT, GROUP TEN METALS 100% interest on a large 54 km 2 claim block Adjoins the 80 Moz J-M Reef PGE deposit: The highest grade major PGE deposit in the world, and the largest outside of South Africa and Russia Three producing mines Work to date shows potential for large, bulk mineable Platreef-style deposits below the J-M Reef in the layered geology of the Stillwater complex Stillwater Mine (1986) Blitz Mine (2017) East Boulder Mine (2002) J-M REEF DEPOSIT SIBANYE-STILLWATER GROUP TEN METALS STILLWATER WEST 25 Kilometers J-M Reef Deposit (Sibanye-Stillwater) Reserves 1 : 25.6 Moz Pd+Pt at 17.2 g/t P&P Resources 1 : 31.3 Moz Pd+Pt at 17.0 g/t M&I and 49.4 Moz Pd+Pt at 16.6 g/t Inf. Past Production 2 : over 10 Moz at +16 g/t Pd+Pt 1 - Report on Montana platinum group metal mineral assets of Sibanye-Stillwater, November 2017. 2 - Public production records from Stillwater Mining Company from 1992 to present. 9
Stillwater West PGE-Ni-Cu Project District Geology Geologic map of the Stillwater Complex A Stillwater and Blitz Mines East Boulder Mine J-M REEF DEPOSIT CHROME MOUNTAIN IRON MOUNTAIN 5km Cross-section of the Stillwater Complex A Stillwater West Project Area Lower Stillwater Stratigraphy BS PZ BZ LOWER BANDED SERIES MIDDLE BANDED SERIES Geologic map and cross section showing the layered structure of the Stillwater Complex, including the J-M Reef (Sibanye-Stillwater), the Picket Pin deposit (Group Ten Metals) and Group Ten s Lower Stillwater targets within the Ultramafic Series (bronzitite and peridotite), and the Basal Series. Source: A Geologic and Mineral Exploration Spatial Database for the Stillwater Complex, Montana, Michael L. Zientek and Heather L. Parks, USGS Scientific Investigations Report 2014 5183, 2014. A Picket Pin Reef Stratigraphy UPPER BANDED SERIES 10 A Property Details Stillwater West claims (Group Ten) Sibanye-Stillwater claims (approx.) Producing Mines (Sibanye-Stillwater) Regional Geology Unconsolidated deposits Lower Tertiary intrusive rocks Phanerozic sedimentary rocks Proterozic and Archean mafic dikes Archean quartz monzonite Archean metasedimentary rocks Stillwater Complex Geology Upper Banded Series Middle Banded Series Picket Pin Reef Lower Banded Series J-M Reef Bronzitite zone Ultramafic Series Peridotite zone Basal Series
Ultramafic Series Lower Banded Series Middle Banded Series Upper Banded Series Stillwater West PGE-Ni-Cu Project Rock Geochemistry Stratigraphic column and distribution of Pd, Pt, Ni, Cu, Cr and S across the Stillwater Complex Series Lithologic Zones Sulphides Smoothed (3-Point Average) Background Rock Assay Values Across Stillwater Stratigraphy from Chrome Mtn to Contact Mtn GN III Gabbronorite III OB V AN II Olivine-bearing V Anorthosite II Picket Pin PGE Sulphide Reef OB IV Olivine-bearing IV OB III Olivine-bearing III AN I Anorthosite I OB II GN II Olivine-bearing II Gabbronorite II N II OB I GN I N I BZ PZ BS Norite II Olivine-bearing I Gabbronorite I Norite I Bronzitite Zone Peridotite Zone Basal Series 1 2 4 3 J-M Reef PGE Sulphide Reef Ultramafic & Basal Zones 0.1 1 10 100 0.1 1 10 100 1000 10 100 1000 10 100 1000 10 100 1000 10000 10 100 1000 Pd (ppb) Pt (ppb) Ni (ppm) Cu (ppm) Cr (ppm) S (ppm) Ultramafic and Basal Zones PGE+Cr Disseminated & Reef/Seams PGE+Ni+Cu Disseminated in Magmatic sulphide deposits 2 1 3 4 Background Pd & Pt concentrations in Ultramafic and Basal zones are some of the highest in the Stillwater Complex outside of the J-M Reef Broadly elevated Ni and Cu values occur as increased sulphide content across the Ultramafic and Basal zones, highlighted by elevated sulphur levels Chromium values are also elevated in the lower Stillwater Complex and are associated with some of the highest Pd and Pt values Picket Pin Reef Stratigraphy BS PZ BZ LOWER BANDED SERIES MIDDLE BANDED SERIES UPPER BANDED SERIES Source: Sulfide saturation history of the Stillwater Complex, Montana: chemostratigraphic variation in platinum group elements, Reid R. Keays, Peter C. Lightfoot & Paul R. Hamlyn, Miner Deposita (2012) 47:151 173. Stillwater Complex Stratigraphy - Chrome Mtn to Contact Mtn 11
Conductance Stillwater West PGE-Ni-Cu Project Targets 14 large-scale (multi-kilometer) target areas identified across 25-km long property Fugro DIGHEM (EM) Survey Results 56kHz Apparent Resistivity (ohm-meters) <75 150 200 800 1500 2500 >5000 6 Higher-Grade Reef-type Target Areas Picket Pin 8 Large-scale, bulk tonnage PGE-Ni-Cu target areas, with potential to host Platreef-Style mineralization Cathedral Crescent Boulder Wild West Chrome Mountain East Boulder Camp Zone Iron Mountain 25 kilometers Target areas presented above are defined by major high-level electro-magnetic conductors with broad coincident Pt+Pd+Au and Ni+Cu+Cr+Co soil geochemical anomalies: Eight large-scale, bulk tonnage PGE-Ni-Cu +/- Cr sulphide target areas which may host Platreef-Style mineralization, each one 2 to 4 km long with potential for large-scale magmatic sulphide-hosted deposits Six higher-grade PGE Reef-type target areas that are 3 to 8 km long which may host multiple Reef-type deposits Data from more than 215 drill holes totaling over 28,000 meters from across the property confirms the presence of significant intervals of platinum group elements (PGE) with nickel and copper sulphides in the target areas Geophysical and geochemical signatures show potential for a much larger mineralized system than has been previously recognized; systematic drill testing has yet to be completed on these targets 12
Stillwater West PGE-Ni-Cu Project Soil Geochemistry Highly anomalous precious and base metal values cover 15 km strike in lower Stillwater stratigraphy Palladium + Platinum + Gold East Boulder Mine CHROME MOUNTAIN J-M REEF DEPOSIT IRON MOUNTAIN SOIL GEOCHEMISTRY Platinum-Palladium-Gold Pt + Pd + Au (ppb) >200 75 200 50 75 25 50 15 25 5 15 5 km Nickel + Copper East Boulder Mine CHROME MOUNTAIN J-M REEF DEPOSIT IRON MOUNTAIN SOIL GEOCHEMISTRY Nickel-Copper Ni + Cu (ppm) >1,000 650 1,000 350-650 250 350 150 250 75 150 5 km Extensive soil geochemistry surveys in the Chrome Mountain and Iron Mountain target areas show high levels of platinum, palladium, gold, nickel, copper and other metals in soils across very large (multi-kilometric) areas Cobalt, chromium and other metals also highly anomalous across large areas Soil results show a strong spatial correlation with broad, high-level electro-magnetic conductor anomalies, demonstrating potential for Platreef-style PGE-Ni-Cu deposits Significant corresponding PGE-Ni-Cu mineralization in historic drilling: Group Ten has systematically re-logged more than 11,000m of drill core and compiled data from over 28,000m of drilling to generate a predictive geologic model to drive exploration strategy 13
Boulder & Wild West Target Areas Highlight Drill and Rock Sample Results Over Geophysics CHROME MTN 14
Pine Shear Zone - Wild West Target Area Rock Sample and Drill Results Over Geology 15
Chrome Mountain & East Boulder Target Areas Highlight Drill & Rock Sample Results Over Geophysics WILD WEST CAMP ZONE 16
Chrome Mountain & East Boulder Target Areas Highlight Drill & Rock Sample Results Over Soil Geochemistry (Pt, Pd, Au) WILD WEST CAMP ZONE 17
Chrome Mountain & East Boulder Target Areas Highlight Drill & Rock Sample Results Over Soil Geochemistry (Ni, Cu) WILD WEST CAMP ZONE 18
Chrome Mountain & East Boulder Target Areas Highlight Drill & Rock Sample Results Over Geology WILD WEST CAMP ZONE 19
Chrome Mountain Cross-Section CM-4 20
Chrome Mountain Cross-Section CM-6 21
Stillwater West PGE-Ni-Cu Project Target Geologic Models Work at Stillwater West has delineated two broad target deposit types: High-Grade Reef-Type PGE-Ni-Cu Deposits Characterized by high to very high-grade PGE mineralization with Ni, Cu, and Cr Typically less than 10m in thickness of layered intrusions worldwide Examples include J-M Reef (Stillwater) and Merensky Reef and UG2 Reef (Bushveld) At Stillwater West, the Picket Pin deposit and targets in the Lower Banded and upper Ultramafic Series are examples of this type of deposit At least five main targets from 1.5 to 5 km length have been defined from geophysics and geochemistry Large-Scale Platreef-Style PGE-Ni-Cu Deposits Sulphide-hosted, Ni-Cu-PGE +/- Cr mineralization considered to be of magmatic origin Hosted by lower Ultramafic and Basal Series rocks and immediate footwall lithologies Primary targets are massive to strongly disseminated PGE enriched Ni-Cu sulfides in the lower Stillwater Complex stratigraphy Comparable deposits include the Platreef deposits of the Northern Limb of the Stillwater Mine - Montana PGE-Nickel-copper mineralization in drill core from the lower Stillwater Complex at Stillwater West Bushveld including the Flatreef (Ivanhoe), Mogalakwena (AngloAmerican) and Waterberg (Platinum Group Metals) mines Mineralization is laterally extensive and may be 10s to several hundreds of meters thick Mineralization may be associated with xenoliths and rafts of country rock, suggesting a potential relationship to sulphide deposition At Stillwater West, Iron Mountain and much of the lower Ultramafic and Basal Series along strike have significant potential for deposits of this type In December 2018 Group Ten confirmed discovery of the Hybrid Zone at Chrome Mountain including a newly-recognized PGE mineralization type associated with disseminated chromite over broad stratigraphic intervals 10 to 100s of meters thick, which was previously unrecognized at Stillwater. Host rocks are complexly textured Ultramafic Series lithologies, locally pegmatoidal, with features suggesting the presence of magmatic breccias. In January 2019 Group Ten announced thick mineralized intercepts of PGE, Ni, Cu and Co mineralization in the Hybrid Zone target area at Chrome Mountain, along with the discovery of high-grade dunite pipe targets and PGE-enriched Ni/Cu sulphide targets in the basal series 22
Benchmark Producing Reef-Type and Platreef-Style Deposits Reef-Type Deposits Tonnes (Mt) PGE Grade (g/t) Thickness (m) Grade Thickness 1 (g/t-m) Ni (%) Cu (%) Merensky (Bushveld Igneous Complex) 3 4,210 5.63 (3PE) ~0.4 1.5 <5-15 0.15 0.06 J-M Reef (Stillwater Igneous Complex) 3 323 20.5 (3PE) 1.8 34 4 0.04 0.02 Platreef-Style Deposits Tonnes (Mt) PGE-Au Grade (g/t) Thickness (m) Grade Thickness 1 (g/t-m) Ni (%) Cu (%) Merensky Reef Deposit, Bushveld Igneous Complex, South Africa (Anglo American) Flatreef Deposit (Ivanhoe Mines) 1 346 3.87 (4PE) 19 86 0.32 0.16 Mogalakwena (Anglo American) 1 2,521 2.61 (4PE) 0.18 0.10 Waterberg (Platinum Group Metals) 2 315 3.52 (4PE) 2-25 0.14 0.07 Platreef-style deposits are some of the largest and most profitable producing and proposed PGE mines in the world. The Stillwater Complex has not been systematically explored for Platreef-style deposits: The lower Stillwater complex shares many similarities with the lower Bushveld PGE-Ni-Cu sulphide mineralization of up to 400 meters in drill intercepts Coincident, multi-kilometer geophysical and geochemical signatures, of Platreef scale Mogalakwena Mine, Northern Limb Bushveld Igneous Complex, South Africa (Anglo American) 23 J-M Reef Deposit, Stillwater Igneous Complex, Montana, USA (Sibanye-Stillwater) References: 1 - Ivanhoe Mines Ltd, Platreef Feasibility Study, September 2017 2 Independent Technical Report on the Waterberg Project, October 17, 2016 3 A.J. Naldrett, Secular Variation of Magmatic Sulfide Deposits and Their Source Magmas, Economic Geology, v. 105, pp. 669 688, 2010 4 - Source: Report on Montana platinum group metal mineral assets of Sibanye-Stillwater, November 2017
Next Steps Stillwater West PGE-Ni-Cu Project Group Ten is focused on identifying and advancing the most prospective targets towards resource definition. The company is systematically compiling and reviewing existing data including data from more than 215 holes totalling over 28,000m of drilling - to develop a predictive geologic model to drive future exploration efforts and follow-up drilling. On-going exploration work includes: Re-logging of the more than 11,500 meters of available core (complete) Re-assay of the above core for complete multi-element geochemistry Entry of all core data into the first property-wide 3D geologic database for modeling and target refinement Ground-based geological sampling, prospecting and mapping programs Prioritization and refinement of all targets and target areas across the 25-km long project Results are being incorporated into a developing geologic model and will inform larger programs planned for 2019. Upcoming news: Continued release of 2018 results Announcements re 2019 exploration plans 24
Share Capital Relative Share Performance PALL Palladium ETF 6 7 4 5 13 PGE.V - GROUP TEN METALS 3 8 12 JJNTF - Bloomberg Nickel ETF 11 1 9 10 GDXJ - Junior Miners ETF 2 PPLT Platinum ETF Milestones 1 Recapitalization financing (2/27/2017) 2 Initial Stillwater West acquisition (6/26/2017) 3 New board appointments (10/11/2017) 4 5 6 7 8 9 10 11 12 Boulder & Wild West area results (1/25/2019) 13 Chrome Mtn & East Boulder results (2/21/2019) Contact Information Doubling of land position in Stillwater Complex (11/15/2017) Key additions to PGE-Ni-Cu technical team (11/30/2017) Announcement of 18 km PGE and Ni, Cu and Cr soil anomalies (1/10/2018) Announcement of 12 major multiple km long EM conductors (2/26/2018) Expansion of Stillwater claims, completion of earn-ins on Yukon & Ontario properties (7/2018) Dr. David Broughton Joins Group Ten Metals as Senior Technical Advisor (9/18/2018) Closed $1.2 million financing (11/23/2018) Hybrid Zone discovery (12/17/2018) 25 Share Structure Issued & Outstanding Options (Avg. Ex. Price: $0.14) Warrants (Avg. Ex. Price $0.14) Fully Diluted 59 million 6.6 million 27 million 92.7 million Market Capitalization $12 million In the Money Warrants/Options $4.7 million Management & close associates hold ~40% As of Jan. 31, 2019
Peer Comparison Market Capitalization Exploration and Development Stage Companies Market Cap $CDN $500 Nickel - PGE $400 Nickel $300 $200 $100 Avg. Market Cap* ~$57 Million $0 Source: Stockwatch as of February 8, 2019 26
60 Precious Metals Bull and Bear Market Cycles Bull market analog using the TSX Venture Composite Index 7 year Bear Market since peak of last cycle 1987-1991 ( 75%) Bear Market Cycles 2007-2008 ( 79%) Apr/87 to Jan/91 May/96 to Apr/01 Apr/07 to Dec/08 Feb/11 to Jan/16 Average duration: 47 months Average decline: 75% Last cycle: 59 months Last decline: 76% Last bear cycle 59 months Bull Market Cycles 1984-1987 ( 144%) 2008 2011 ( 252%) Average CDNX Peak* Duration: 24 to 74 months Increases: 144% to 282% CDNX Peak: 2400 to 3700 Current CDNX level: 700 2001-2007 ( 282%) 1991-1996 ( 196%) 2011-2016 ( 76%) 1996-2001 ( 70%) Current Market Mar/84 to Apr/87 Jan/91 to May/96 Apr/01 to Apr/07 Dec/08 to Feb/11 Jan/16 to Present Source: Canaccord Genuity, TSX DataGroup *Past performance may not be indicative of future results 27
Relative Value Resource Company Development Stages & Valuations Stage Discovery Resource Early Development Advanced Development Studies Financing Key Mgmt. Risk Profile Discovery --------------------> Resource estimates -----> PEA --------------------------> PFS -----------------------> Feasibility Study Equity -----------------------------------------------------------> Equity + debt + alternative sources (streams, off take, asset sale) $1 to $10 M ------------------>$5-20 M ------------------> $10-25 M ----------------> $25 - $100 M + Geologists --------------------> Geologists / Engineers ----------------------------> Geologists/Engineers /Finance /Operations High risk -----------------------> High-Mod risk -----------> Moderate risk------------------------------> Mod-Low risk Exploration uncertainty - testing size & grade ------ > Technical uncertainty -engineering/permitting/financing Group Ten Metals Discovery Value Creation Speculative Valuation Premium Common at Discovery and Resource Stage Optimal entry area for investors De-risking/ re-valuation toward production & cash flow PEA Stage Average Enterprise Value $20-30/oz Au $2-$3/oz Ag 1%-2% Cu or Ni Value PFS Stage Average EV $30-50/oz Au $3-$5/oz Ag 2%-3% Cu or Ni Feasibility Stage $60-$100/oz Au $6-$10/oz Ag 4%-6% Cu or Ni Value Producer Valuations ~ Profit Margin/oz $200-$500/oz Au and $10-$20/oz Ag 5%-10% of in-situ base metal value Time Investors 1-3 years proof of concept -----> 2-3 years for drilling --> 3-5 years from PEA to Feasibility Study Early entry investors and small institutions ------------> Larger institutional investors Higher risk looking for higher returns ------------> Reduced risk looking for incremental returns Based on Canaccord Genuity Junior Mining Weekly and Company estimates 28
Other Assets 29
Red Lake & Rainy River Area, NW Ontario World-Class Archean Greenstone Gold Belts SIOUX LOOKOUT DEFORMATION ZONE RAINY RIVER GOLD DISTRICT Black Lake Drayton Group Ten Metals Springpole (First Mining) Pickle Lake (First Mining) Goliath Treasury Metals Goldlund First Mining Gold Red Lake (Goldcorp) Development of New Gold s Rainy River deposit has lead to the discovery of over 10Moz to date in the belt: Goldlund deposit (First Mining Gold) 1 809,200 oz Au @ 1.96g/t Ind. 876,954 oz Au @ 1.49g/t Inf. PROJECT AREA Goliath deposit (Treasury Metals) 2 1.23Moz AuEq @ 2.36g/t M&I 226,700 oz AuEq @ 3.51g/t Inf. Cameron Lake (First Mining) 3 464,000 oz Au @ 2.61 M&I 533,000 oz Au @ 2.54 Inf. Rainy River Mine (New Gold) 4 Reserves: 4.22Moz Au @ 1.09g/t P&P 2.14Moz Au @ 1.06g/t M&I Resources: 313,000 oz Au @ 1.1g/t Inf. KENORA Cameron Lake (First Mining) DRYDEN Manitou Gold 1. Technical Report and Resource Estimation on the Goldlund Project, July 25, 2018 2. Technical Report and Updated Resource Estimate for the Goliath Gold Project, released August 28, 2015, as updated October 17, 2018. 3. Technical Report on the Cameron Gold Deposit, January 17, 2017. 4. Technical Report on the Rainy River Mine, July 25, 2018. FORT FRANCES Rainy River (New Gold) Hammond Reef (Agnico Eagle / Yamana) 30
Black Lake - Drayton Au Project Five Priority Areas Selected From Over 20 Historic Targets Moretti Area 1,500m long by 10-30m wide zone of quartzcarbonate vein hosted gold mineralization with: Historic bulk samples of 8,062kg @ 14.01 g/t Au and 4,087kg @ 18.65 g/t Au Grab Samples up to 1,212 g/t Au in quartz-tourmaline veins/stockwork Drill Intercepts: 0.24m @ 190.7g/t, 0.65m @ 19.78g/t Au Less than 20 shallow and widely spaced holes (50 to 100m apart) A 7-hole, first phase drill program completed in 2016 confirmed 0.5m at 15.62 g/t Au directly under historic bulk samples of similar grade. Bonanza Trench Area Samples to 35.2 g/t and 6% Cu from VG bearing quartz vein Alkenore Buffalo Area 1936/37 drilling reported 6ft of VG from a hole in Zone 3 with 3 m of 16.5 g/t Au Shaft Area High grade historic samples from workings including muck samples up to 318 g/t Au, plus 2.04m of 14.52 g/t Au drilled 2005 Belekeno Extension of Moretti deformation zone 2.4 km WSW of Moretti, multiple trench samples over 10 g/t Au, plus grab sample over 566 g/t Au Drayton Shaft Area Belekeno Bonanza Trench Area Moretti Area Historic Trenches and 2016/17 Drill Targets +2.4km Moretti Shear Zone includes historic high-grade bulk samples, trenches Group Ten Claims Black Lake Alkenore Buffalo Areas 3 & 9 July 2017 report identified 43 high priority targets based on geochemistry, geophysics and drill data, 5 of which are drill-ready 31
Kluane PGE-Ni-Cu Project, SW Yukon Regional Claims Map Premier land position in an emerging, world-class PGE-Ni-Cu district 32
Kluane PGE-Ni-Cu Project, SW Yukon Target Summary Kluane Mafic-Ultramafic Belt The Kluane Mafic-Ultramafic Belt is a belt of PGE-Ni-Cu deposits, which are part of a sequence of mafic-ultramafic rocks, that extend from northern BC through the Yukon to central Alaska. The multi-million-ounce Wellgreen deposit demonstrates the world-class potential of the belt, with geology similar to some of the world's largest PGE and Ni-Cu deposits, including Noril'sk-Talnakh, Bushveld, and the Stillwater Complex. Massive sulphide mineralization typically occurs near the basal contact (eg. the Spy Sill) and can also occur within the cores of larger ultramafic bodies. Group Ten controls over 255 km 2 in five claim blocks in the Kluane Mafic-Ultramafic Belt: Ellen (100% owned) Significant sulphide mineralization in 12 historic drill holes including 3.15% Cu over 5.2m in MC66-1, 1.64% Cu over 10.4m in MC66-2, 1.76% Cu over 5.5m in 95-1, and 2.13m at 1.96% Cu and 2,098 ppb Au in hole 95-3 Trenching returned values of up to 7.2% Cu with 1 g/t Au and 1 g/t Pd Strong copper plus gold soil geochemical signatures have been identified on the property that are coincident with a large geophysical conductor nearly 1 kilometer in length Spy (100% owned) The Spy Sill has been mapped over 8 km strike with demonstrated mineralization and widths of 75 100m wide at surface Massive sulphide lenses in Spy Sill assayed up to 3.1 g/t Pt, 1.4 g/t Pd, 1.0 g/t Au, 3.1% Ni, 2.8% Cu and 0.02% Co Historic grab samples up to 75.8 g/t Pt, 7.9 g/t Pd, 7.0 g/t Au, 2.6% Ni, 10.5% Cu and 0.09% Co in footwall siltstone Ultra (100% owned) Trench at Frohberg yielded 5.54g/t Pt, 13.46g/t Pd, 15.8g/t Ag, 4.07% Cu, 1.73% Ni 2015 discovery of UZE zone by soil geochemistry and ground geophysics; UZE anomaly and numerous other occurrences being assessed for PGE-Ni-Cu potential VLF-EM and mag survey delineates the continuation of the ultramafic body over Frohberg occurrence Catalyst (100% owned) 83 square kilometers adjacent to, and on trend with, the main Wellgreen deposit, one of the world s largest undeveloped PGE-Ni- Cu deposits, now being advanced by Nickel Creek Platinum Historic work has identified layered intrusions along strike and open to depth Outpost and Pacer (100% interest) Significant potential for discovery of new PGE-Ni-Cu deposits with a mineralized 70-meter-wide mafic to ultramafic body, and elevated Ni and Cu values in soils corresponding with two kilometer-scale magnetic anomalies 33
Other Assets Duke Island (SE Alaska) Significant Cu-Ni-PGE asset available for deal 100% owned Significantly elevated Cu, Ni, and Fe relative to most Ural Alaska complexes up to 1.95% Cu, 0.25% Ni and 1g/t combined PGEs in mafic/ultramafic host rocks Past drilling has encountered up to 387 feet of disseminated and semi massive sulfide mineralization with Cu and Ni grades Multiple targets - only the Marquis target has been partially tested by drilling Yankee-Dundee Mine (SE British Columbia) Royalty Revenues Group Ten consolidated the historic Ymir Camp, once the largest silver producer in the British Commonwealth Total production 883,000 tonnes @ 10g/t Au and 60g/t Ag (over $500M gross today) Sold in 2013 for: $50,000 annual Advance Royalty payments $1.5M production payments plus 2.5% royalty $4M total buy-out on royalties and production payments Long section from the Marquis target area with 2005 drill results and geophysics showing magma chamber target The Yankee Girl Mine Mill, Wildhorse Adit, and Ymir Mine 34
A Collaboration of Leading Exploration Companies The Metallic Group Philosophy and Approach to Business To leverage our combined decades of experience in successful mineral exploration, project permitting, community relations, project finance, and capital markets to create shareholder value for member companies by executing the following value creating strategies: Strategically acquire large, brownfields land packages in highly prospective mining districts adjacent to established operating mines during the low parts of the metal price cycle; Apply a systematic approach to exploration focused on large-scale deposits to facilitate new discoveries and rapid advancement of resources in these proven brownfields districts; Focus on areas with existing infrastructure and shallow deposits that allow for reduced capital and operating costs along with rapid development timelines; Lead these initiatives with dedicated management teams that have proven track records of exploration and project development success in their target metals of focus; Metallic Group companies utilize shared resources for cost efficiency and specialized technical expertise with experienced corporate governance and management oversight which have been recognized for their environmental stewardship and community engagement. Metallic Minerals is a leading explorer for high-grade silver and gold in Canada s Yukon Territory. The company's core Keno Silver Project is located in the historic, high-grade Keno Hill silver district, a region which has produced over 200 million ounces of silver and currently hosts one of the world s highest grade silver resources at the adjacent Alexco Resources mines. Metallic Minerals is also building a portfolio of producing gold royalties in the Yukon s prolific Klondike Gold District. Group Ten Metals is a leading explorer for platinum, palladium, nickel, copper and gold deposits in North America. The company s holdings include its flagship Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater s high-grade Pd-Pt mines in Montana, the Kluane PGE-Ni-Cu project adjacent to Nickel Creek Platinum s Wellgreen deposit in the Yukon Territory, and the Black Lake-Drayton Gold project in the Rainy River district of Ontario. Granite Creek is a newly-launched copper focused exploration company. The company s Stu Copper project is located in the Yukon s high-grade Carmacks copper district adjacent to Capstone Mining s high-grade Minto Cu-Au-Ag mine and Copper North s Carmacks Cu-Au-Ag project. 35 35
Group Ten Metals Inc. Suite 904-409 Granville Street Vancouver, BC, Canada, V6C 1T2 Email: info@grouptenmetals.com Tel: 604.357.4790 Toll Free: 888.432.0075 www.grouptenmetals.com @metallic_group 36