CORPORATE PRESENTATION July 2018 TSX.V: PGE PREMIUM NORTH AMERICAN EXPLORATION & DEVELOPMENT ASSETS ACROSS THE SPECTRUM OF HIGH-DEMAND METALS 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. Focused on the discovery and development of world-class polymetallic (technology metals plus PGEs, gold) deposits through resource delineation stage All projects in brownfield districts, adjacent to mines or advanced-stage projects, with excellent existing infrastructure Land positions acquired strategically during bear market Experienced team with expertise in PGM-Ni-Cu exploration 100% interest on all projects Low political risk Kluane PGE-Ni-Cu Project Adjoining and on-strike with Nickel Creek Platinum s worldclass PGE-Cu-Ni-Co deposit Black Lake-Drayton Project High-grade gold in the Rainy River Belt 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 over 11,000m 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, based on: highly anomalous Pd, Pt, Au, Ni, Cu, Cr over 18km in soils 12 large geophysical anomalies (conductive highs) across same area significant PGE-Ni-Cu-Co mineralization in historic drilling Re-logging of historic core nearly complete Inaugural drill program planned for 2018 Yukon CANADA Montana USA Ontario 1 - 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
Board of Directors 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 Over 25 years executive experience in the exploration, mineral processing, and mine environmental industries Director of Bravada Gold, Granite Creek Gold, 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 President and CEO of Midnight Mining Founder, former Executive of Northern Freegold Lifelong Yukoner, prospector, mining entrepreneur Management & Technical Team Michael Rowley, BSc, RPBio President & CEO, Director See bio at left with Board of Directors Tim Thiessen, BA, CA Chief Financial Officer 20 years of international accounting and finance experience Has held CFO position with Metallic Minerals, Foran Mining, SnipGold, and Aurcana, also former VP Finance for Endeavor Financial, and auditor for Deloitte s mining practice Dr. Craig Bow, Ph.D. Chief Geologist Over 40 years experience in global exploration, mine geology, & project management, including exploration of the J-M Reef and 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 Manager North America for Gold Fields, Senior Technical positions for Cyprus Amax, Newcrest, and 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 Chris Ackerman, LLB Mgr Corp Communications & IR Mgr Corp. Communications with Metallic Minerals, formerly with Wellgreen Platinum & Sr. Bus Dev Advisor, Yukon Government 4
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 5
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) 6
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 Group Ten geologists inspect the mafic - ultramafic series above Sibanye-Stillwater s Stillwater Mine, one of three mines in the Stillwater Complex. 7
Stillwater West PGE-Ni-Cu Project Regional Claims Map Large land position in one of the world s richest PGE-Ni-Cu districts 1 2, 3 1 STILLWATER WEST 25 Kilometers Stillwater Complex Land Status Mines (Sibanye-Stillwater) 1 - East Boulder Mine (2002) 2 - Stillwater Mine (1986) 3 - Blitz Mine (2017) Reserves 22.2 Moz Pd+Pt at 16.3 g/t P&P* Mineral Rights Group Ten (acquired June 2017, November 2017, January 2018) Group Ten (acquired June 2018) Sibanye-Stillwater (Approx.) Resources 31.3 Moz Pd+Pt at 17.0 g/t M&I* and 49.4 Moz Pd+Pt at 16.6 g/t Inf.* * - Report on Montana platinum group metal mineral assets of Sibanye-Stillwater, November 2017 8
Stillwater West PGE-Ni-Cu Project District Geology Geologic map of the Stillwater Complex A Stillwater and Blitz Mines J-M REEF 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 Picket Pin Reef Stratigraphy 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 UPPER BANDED SERIES 9 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 10
Conductance Stillwater West PGE-Ni-Cu Project Airborne EM Survey Results 12 major multi-kilometer geophysical conductor targets across 20 kilometer strike <75 150 200 800 1500 2500 >5000 Fugro DIGHEM EM Survey 56kHz Apparent Resistivity (ohm-meters) 5 High-Grade Reef-type Targets 20 kilometers 7 Platreef-Style PGE-Ni-Cu Targets Results of 1,914 line-km Fugro DIGHEM (EM) Survey: 12 major geophysical conductive anomalies on main claim block Five main Reef-type target areas 1.5 to 5km long with potential for multiple higher-grade PGE Reef-type deposits Seven broad Platreef-style PGE-Ni-Cu +/- Cr sulphide target areas 2 to 4 km long with potential for large-scale magmatic sulphide-hosted PGE-Ni-Cu deposits +/- Cr Strongest conductors may be characteristic of large bodies of massive to extensively disseminated sulphides and correspond with overlapping highly elevated palladium, platinum, gold, nickel, copper and chromium values in soils Geophysical and geochemical signatures show potential for a much larger mineralized system than has been previously recognized in this under-explored part of the Stillwater Complex 5km J-M REEF Property Details Stillwater West claims (Group Ten) Sibanye-Stillwater claims (approx.) East Boulder Mine (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 (Group Ten) Lower Banded Series J-M Reef Deposit (Sibanye-Stillwater) Reserves: 22.2 Moz Pd+Pt at 16.3 g/t P&P Resources: 31.3 Moz Pd+Pt at 17.0 g/t M&I and 49.4 Moz Pd+Pt at 16.6 g/t Inf.* Bronzitite zone Peridotite zone Basal Series Ultramafic Series Geology 11
Stillwater West PGE-Ni-Cu Project Soil Geochemistry Highly anomalous precious and base metal values cover >18 km strike in lower Stillwater Stratigraphy Palladium + Platinum + Gold J-M REEF DEPOSIT Platinum-Palladium-Gold Soil Geochemistry Pt + Pd + Au (ppb) 5 km Nickel + Copper Chrome Mountain Target Area J-M REEF DEPOSIT Nickel-Copper Soil Geochemistry Ni + Cu (ppm) Chromium J-M REEF DEPOSIT 5 km Iron Mountain Target Area Chromium Soil Geochemistry Cr (ppm) 5 km J-M Reef Deposit (Sibanye-Stillwater) Reserves: 22.2 Moz Pd+Pt at 16.3 g/t P&P Resources: 31.3 Moz Pd+Pt at 17.0 g/t M&I and 49.4 Moz Pd+Pt at 16.6 g/t Inf. Source: Report on Montana platinum group metal mineral assets of Sibanye-Stillwater, Nov 2017 Sibanye-Stillwater Claim Boundary Stillwater West (Group Ten Metals) 12
Iron Mountain Target Area - Stillwater PGE-Ni-Cu Project Apparent Resistivity DIGHEM Survey, 56 khz (ohm-meters) 7 Platreef-style PGE-Ni-Cu-Co Targets CHROME MOUNTAIN TARGET AREA 5 High-grade Reef-type Targets 8km x 4km IRON MOUNTAIN TARGET AREA Platinum, Palladium, Gold J-M REEF DEPOSIT The three Platreef-style targets at Iron Mountain are broad, highly conductive anomalies which show a strong spatial correlation with highly elevated metal in soil values across the area, and significant corresponding PGE-Ni-Cu mineralization in historic drilling Group Ten is now systematically re-logging core and reviewing core logs to refine the geologic model and drive exploration strategy Nickel, Copper J-M REEF DEPOSIT 1 km Platinum-Palladium-Gold Soil Geochemistry Pt + Pd + Au (ppb) Cobalt Target Cobalt Soil Geochemistry (ppm Co) Nickel-Copper Soil Geochemistry Ni + Cu (ppm) Cobalt Rock Samples (ppm Co) 1 km 0.14% Co 0.09% Co Chromium J-M REEF DEPOSIT Highly elevated cobalt in soil values of 75 to 220 ppm across 2.7 km x 1.1 km area Multiple rock samples reporting up to 0.14% Co across same area 0.12% Co Sibanye-Stillwater Claims Stillwater West Claims (Group Ten Metals) J-M Reef Deposit (Sibanye-Stillwater): Reserves: 22.2 Moz Pd+Pt at 16.3 g/t P&P Resources: 31.3 Moz Pd+Pt at 17.0 g/t M&I and 49.4 Moz Pd+Pt at 16.6 g/t Inf. Source: Report on Montana platinum group metal mineral assets of Sibanye- Stillwater, November 2017 1 km Chromium Soil Geochemistry Cr (ppm) 13
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 10 m 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 5 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. Chrome Mountain shows potential for a newly-recognized PGE mineralization type associated with disseminated chromite over broad stratigraphic intervals 10 to 100s of meters thick, which was previously recognized at Stillwater. Host rocks are complexly textured Ultramafic Series lithologies, locally pegmatoidal, with features suggesting the presence of magmatic breccias. 14
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 37 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) 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 15
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. Phase One 2018 Exploration Program: Re-logging and re-assay of available core (over 11,000 meters) 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 of all targets across the 25-km long project Phase Two 2018 Exploration Program: Drill test highest priority targets in the Iron Mountain and Chrome Mountain areas, subject to obtaining a 2018 drill permit (application now in progress) Results will be incorporated into developing geologic model and will inform potential larger programs 16
Share Structure, Performance & Recent Events Relative share performance Catalyst 4 5 6 7 8 9 JJNTF - ipath Bloomberg Nickel ETF PGE.V - GROUP TEN METALS 3 2 GDXJ - Junior Gold Miners ETF 1 PPLT ETFS Physical Platinum ETF Recent Milestones 1 Recapitalization financing (Feb 27, 2017) 2 Initial Stillwater West acquisition (June 26, 2017) 3 New board appointments (Oct 11, 2017) 4 5 6 7 8 9 Contact Information Doubling of land position in Stillwater Complex (Nov 15, 2017) Key additions to PGE-Ni-Cu technical team (Nov 30, 2017) Completion of $500,000 financing (Dec 28, 2017) Announcement of 18 km PGE and Ni, Cu and Cr soil anomalies (Jan. 10, 2018) Announcement of 12 major multiple km long EM conductors (Feb. 26, 2018) Identification of priority targets at Iron Mountain and including Cobalt anomaly 17 Share Structure Issued & Outstanding Options (Avg. Ex. Price: $0.14) Warrants (Avg. Ex. Price $0.13) Fully Diluted Market Capitalization In the Money Warrants/Options 44 million 6 million 25 million 75 million $12 million $3 million Management & close associates hold ~40%
Peer Comparison Market Capitalization Exploration and Development Stage Companies Market Cap $CDN $500 Nickel - PGE $400 Nickel $300 $200 $100 Avg. Market Cap* ~$89 Million $0 Source: Company disclosures and market data as of February 28, 2018 18
60 Precious Metals Bull and Bear Market Cycles 1987-1991 ( 75%) Bull Market Analog using the TSX Venture Composite Index Coming off of a 5 year Bear Market Bear Market Cycles 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% 1984-1987 ( 144%) Bull Market Cycles Average CDNX Peak* Duration: 24 to 74 months Increases: 144% to 282% CDNX Peak: 2400 to 3700 Current CDNX level: 800 2001-2007 ( 282%) Last bear cycle 59 months 1991-1996 ( 196%) 2007-2008 ( 79%) 2008 2011 ( 252%) 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 19
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 Stillwater West Project Discovery Value Creation Speculative Valuation Premium Common at Discovery and Pre-Resource Stage Optimal entry for investors De-risking/ re-valuation toward production & cash flow PEA Stage Average Enterprise Value $20-30/oz. Au Eq. & 1%-2% of Base Metals Value PFS Stage Average EV $35-50/oz. Au Eq. & 2%-3% of Base Metals Feasibility Stage $100/oz. Au Eq. & 4%-6% of Base Metals Producer Valuations ~ Profit Margin/oz $200-$500/oz Au Eq. and 5% to 10% of Base Metals 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 20
Other Assets 21
Kluane PGE-Ni-Cu Project, SW Yukon Regional Claims Map Premier land position in an emerging, world-class PGE-Ni-Cu district N NICKEL CREEK PLATINUM CORP. 2017 Wellgreen mineral resource estimate as announced June 26, 2017: 6Moz of Pt+Pd+Au + 3Blbs of Ni+Cu M&I 2Moz of Pt+Pd+Au + 1Blbs of Ni+Cu Inf. KLUANE PGE-Ni-Cu PROJECT Kluane Ultramafic Belt, Yukon Kluane PGE-Ni-Cu Projects GROUP TEN METALS Kluane Ultramafic Belt YUKON CATALYST AREA ENLARGED BELOW BURWASH LANDING DESTRUCTION BAY SPY ULTRA Spy Sill SPY PGE-Ni-Cu PROPERTY 22
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 240 km 2 of claims in three properties Catalyst, Spy and Ultra - which host magmatic PGM-Ni-Cu occurrences in layered intrusions similar to Wellgreen and other deposits in the belt: Catalyst 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 Spy 41 square kilometers with extremely high-grade historic sampling Focus on the Spy Sill, which has now been mapped over 8 km strike with demonstrated mineralization and widths of 75 100 m 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 and 2.8% Cu Historic grab sample showings up to 75.8 g/t Pt, 7.9 g/t Pd, 7.0 g/t Au, 2.6% Ni and 10.45% Cu from footwall siltstone Ultra 126 square kilometers with multiple mineralized PGE-Ni-Cu showings Several prospective mafic-ultramafic layered intrusions 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 23
Red Lake & Rainy River Area, NW Ontario World-Class Archean Greenstone Gold Belts Black Lake Drayton Au Project Black Lake Drayton Group Ten Metals Springpole (First Mining Finance) Pickle Lake (First Mining Finance) Goldlund First Mining Gold Red Lake (Goldcorp) Goliath Treasury Metals Discovery of New Gold s Rainy River deposit has lead to the discovery of over 10Moz to date in the belt including: Goldlund deposit (First Mining Gold) 560,000 oz Au @ 1.87g/t Ind. 1.75Moz Au @ 1.33g/t Inf. Goliath deposit (Treasury Metals) 1.16Moz AuEq @ 1.76g/t M&I 341,300 oz AuEq @ 3.06g/t Inf. KENORA Cameron Lake (First Mining Finance) DRYDEN Manitou Gold Sioux Lookout Deformation Zone FORT FRANCES Rainy River (New Gold) Hammond Reef Agnico Eagle / Yamana) 24
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 25
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 26
Appendix 27
Precious Metals Commodities Forecast USD/Oz USD/lb. $1,600 $8.00 $1,400 Gold $7.00 $1,200 $6.00 Platinum Nickel $1,000 $800 Palladium $5.00 $4.00 Base Metals $600 $3.00 Copper $400 $2.00 $200 $1.00 05/2017 2017 2018 2019 2020 2021 RBC, Scotiabank, Macquarie, UBS, Word Bank, BMO 28
Palladium Supply / Demand Fundamentals Supply side fundamentals vulnerable to further reductions Peak in mine production in 2006 with falling supply out of South Africa and Russia The three largest South African producers account for ~30% of global palladium mine production South Africa facing ongoing labour unrest with rising labor costs increasing ~8% to 9% annually over the past 15 years Infrastructure issues, most notably power & water, further threaten the South African palladium industry Strong demand side fundamentals Global emissions standards continue to rise, requiring higher per vehicle PGM loading North American automobile demand (gasoline) continues to be strong Supply Demand Russia South Africa Autocatalysts Canada USA Others Retail Investment Jewellery Dental Recycling Other Electronics Chemical Sources: CPM Group, GFMS 29 29
Platinum Supply / Demand Fundamentals Ongoing supply side issues impact global production Falling global mine supply for past 9 years since peak in 2006; South Africa, which accounts for ~70% of global platinum mine production, faces ongoing labour unrest and increasing costs Infrastructure issues, most notably power & water, further threaten the South African platinum industry Pt available for recycling has been declining since 2010 due to thrifting & palladium substitution in autocatalysts Solid demand growth fundamentals continue Demand projected to maintain growth trend leading to long-term deficit outlook & accelerated stockpile depletion Solid growth in auto sales in mature markets with expanding numbers in the developing world Global emissions standards continue to rise, requiring higher per vehicle PGM loading Supply Demand South Africa Autocatalysts Jewellery Russia Chemical Recycling Other USA Zimbabwe Canada Retail Investment Other Electronics Glass Petroleum Sources: CPM Group, GFMS 30 30
Primary Nickel Demand Trends Nickel market supply deficits expected starting in late 2015 due to continued modest annual demand growth, lack of new production and scarcity of development projects Norilsk indicates nickel prices need to be at least US$11.79/lb to stimulate sufficient growth to meet demand Chinese nickel ore inventories have significantly decreased; growing dependence on imports of refined nickel 3000 Stainless Steel Alloy Steel Non-Ferrous Alloys Plating 2500 Foundry Other 2000 1500 1000 500 0 31 31
Mine Supply (kt) Nickel Primary Supply Fundamentals Overall primary nickel supply projected to be in long-term decline from 2020, with production of far higher-quality sulphide nickel experiencing even more severe constraints than laterite Wood Mackenzie indicates nickel market to be in sustained deficit through 2025 and balanced through 2035 Rapidly expanding electric vehicle market expected to generate significant additional demand for use in batteries 2500 Laterite Sulphide 2000 1500 1000 500 0 Year 32 Source: Wood Mackenzie 32
$US / lb. Nickel Long-Term Price Forecast $14.00 $12.00 $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 33 33
The Metallic Group of Companies A collaboration of Leading Exploration Companies Leveraging our combined decades of experience in mineral exploration, project permitting, community relations, project finance, and capital markets to create shareholder value for member companies, Metallic Group companies benefit from: Highly-experienced management teams and boards with track records of exploration and project development success, credited with the discovery or expansion and advancement of several major precious and base metal deposits globally; Exploration projects in politically stable districts with the potential to produce top-tier mining assets; Focus on high grade silver, gold, lead and zinc in Canada s Yukon Territory and platinum group metals, gold, nickel, copper and cobalt in the Western USA and Northern Canada; Recognition as industry leaders in environmental stewardship and community engagement; and Shared resources for cost efficiency and access to industry leading expertise. Group Ten Metals Inc. is a growth-stage exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in North America. The Company s holdings include the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater s high-grade Pd-Pt mines in Montana, the Kluane Ni-Cu-PGE 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 northwest Ontario. Metallic Minerals Corp. is a growth-stage exploration company focused on the acquisition and development of high-grade silver and gold in the Yukon within under explored districts with potential to produce top-tier assets. The Company's core Keno Silver Project is located in the historic Keno Hill Silver District of Canada's Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world s highest-grade silver resources. The Company s McKay Hill Project, northeast of Keno Hill, is a high-grade historic silver-gold producer. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing. The Metallic Group expects to include a newly-formed copper exploration company in 2018. 34 34
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 @grouptenmetals US 35