ADVANCING A PROSPECTIVE PORTFOLIO TO DISCOVERY SUCCESS Copper - Gold - Silver MONTEZUMA COPPER-GOLD-MOLY Northern Chile Project Summary March 2018
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 43-101 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
Montezuma Project (Copper-Gold) 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 3
Montezuma Project (Copper-Gold) 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 ~ 30,000 Hectares 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 4
About the Project 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) 5
Regional Geological Setting Montezuma Porphyry Cu-Au-Mo Domeyko Cordillera Mid-Tertiary porphyry copper belt 3 of world s top 6 copper mining districts From: Mpodozis C. & Cornejo P. (SEG SP 16 2012) 6
Montezuma - District Setting 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 7
Montezuma - District Setting 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) Chuquicamata District Deposit Footprints At same scale (from Sillitoe R.H. 2010) 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 8
Work to Date & Database - 1 HISTORIC WORK COMPLETED TO DATE Codelco, Anglo American, Others (Pre-2007) Exploration work and results unknown, but including minor (shallow) tests on several targets Polar Star Mining (End 2007 Early 2014) Geological mapping Extensive surface geochemical sampling programs Geophysics Ground magnetics & IP Several drilling campaigns on several targets > 26,500 m (core & results available) Newmont Mining (Early 2014 Late 2016) Geological mapping Re-logging of Polar Star drill core Extensive surface geochemical sampling programs Geophysics Ground magnetics & IP (NewDAS) Drilling campaign on several targets > 8,500 m (core & results available) 9
Work to Date & Database - 2 WORK TO DATE & DATABASE Revelo Resources (March 2017 to Present work ongoing) Detailed geological and hydrothermal alteration mapping of key target areas Re-logging of key Polar Star drill holes, with a focus on porphyry, breccia and hydrothermal alteration phases Rapid review of Newmont targets and re-log of Newmont drill holes Selective SWIR mineral spectrometry (surface rocks and drill holes) Re-processing of ground magnetics surveys Re-plotting and re-interpretation of historic databases Age dating Reporting (in Spanish) 10
Geology & Principal Targets 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 39.1 +/- 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 43.9 +/- 0.2 Ma (U-Pb zircon) ANOMALY L & F ARRIEROS (COVERED) ANOMALY C-A-B 11
Magnetics & IP Chargeability Signatures Ground Magnetics Analytic Signal IP Chargeability @ 200m Pole-Dipole 12
Melissa Copper-Gold Target Artisanal copper working Oxide copper after chalcocite Melissa at Montezuma Old Copper Working 13
Melissa Target Gelogy & Alteration Melissa Basement dominated by Paleozoic plutonic rocks Widespread intermediate argillic alteration (illite-smectite) including quartz-carbonate veinlets Area of transition to phyllic (sericitic) alteration (including D-veinlets) to east Numerous artisanal workings (Cu >> Au) High-grade secondary chalcocite after chalcopyrite in narrow structures Oxidising to brochantite exploited historically 14
Melissa Target Crystalline Sericite & Relict Sulphides Melissa SWIR 2,200nm sericite envelope indicating nucleus of system (High- T crystalline sericite) Multiple small mineral workings coincident with red hematite cap Focused on carbonate buffer related to intermediate argillic alteration on margins of phyllic alteration Relict sulphide analyses indicating presence of chalcopyrite coincident with SWIR 2,200nm sericite Some chalcocite identified Alteration and mineralisation characteristic of a porphyry Cu-Au system at depth Legend Relict Sulphides: Yellow = Chalcopyrite Red = Chalcocite Grey = Pyrite 15
Melissa Target Schematic Section Melissa Line of Schematic N-S Section Melissa Schematic N-S Section Paleozoic basement host rocks (mostly granitoids) Shows historic drill holes Historic drilling is off to side or too shallow (e.g. MM-04) Significant leached capping (150m to 200m) Melissa Target Porphyry Cu-Au target prograde potassic-altered Cu-Au core associated with inter-mineral porphyry phase Possible Cu-oxide and/or secondary enrichment beneath +150m leached capping Possible faulted extension under cover not tested by MNT-02 16
Melissa Target Host rock of Paleozoic granitoids with phyllic alteration Veinlets and narrow veins of chalcocite (after chalcopyrite) Oxidising to brochantite MELISSA Paleozoic granitoid with background intermediate argillic alteration Illite / smectite alteration & quartz-carbonate veinlets Phyllic / sericitic alteration at top of sample Vein of oxidising chalcocite TARGET Porphyry Cu-Au system Model type: - Possible SW Pacific examples Possible oxide-copper and/or secondary enrichment beneath +150m of leached capping Peripheral sub-epithermal polymetallic veins with high-grade gold (up to 22g/t Au in MM11) 17
C-A-B Copper-Gold Targets Anomaly A at Montezuma Access Road 18
C-A-B Targets Geology Overview C-A-B Paleozoic basement (plutonic rocks and volcanics) Early-Tertiary Cinchado Fm. sediments Discontinuous outcrops, with frequent thin cover, of Mid- Tertiary porphyries and breccias Including early mineral quartz-monzodiorite porphyry typical of the belt Hydrothermal alteration from advanced argillic near surface to potassic at depth 19
C-A-B Targets Simplified Geology & Magnetics Signature C-A-B Shows prospective areas beneath current drilling (>400m) and along fault extensions Note undrilled, post-mineral covered areas to E, SE and SW of Anomaly B Magnetic features (Analytic Signal) to right 20
C-A-B Targets Selected Drill Intercepts Anomaly C @ 288.3m MODD69-11 6m @ 0.25% Cu + 0.54 g/t Au + 4.1 g/t Ag + 0.13 % Zn (from 286m) * Anomaly A @ 304.4m MODD33-10 100m @ 0.15% Cu + 0.72g/t Au + 2.8g/t Ag (from 277m) * Anomaly B @ 239.2m MODD38-10 * At this time, it is not known if these intercepts represent true widths 44m @ 0.55% Cu + 0.17g/t Au + 3.4g/t Ag (from 226m) * 21
Target B Esperanza-style Copper-Gold Target Anomaly B Location of Section 7487000N Size comparison with Esperanza ore deposit 22
Target B Schematic Section Anomaly B Section 7487000N Geology & Alteration Open potential at depth, under cover to E, SE (& SW) 23
Target B ANOMALY B TARGET MODD38-10 @ 898 m Quartz-monzonite porphyry with biotite alteration A veinlets with chalcopyrite Cut by late D veinlets with pyrite MODD45-10 @ 1124 m Quartz-monzodioritic porphyry with phyllic alteration B veinlets with molybdenite Cut by late D veinlets with pyrite Porphyry Cu-Au system Model type: - Esperanza (35Km SSW) Focus on Anomaly B, with Anomaly A as secondary target (more space restrictions) Focus on potassic alteration beneath current levels of drilling (+ 400m) Untested areas under post-mineral cover to immediate east, southeast and southwest 24
L Copper-Gold Target Anomaly L at Montezuma West Fissure Fault Zone 25
Target L Geology Overview L Paleozoic basement (plutonic rocks and volcanics) Phyllic-altered monzodiorite porphyry at surface (with D- veinlets some B-veinlets), overprinting background biotite Confined by N-S faults of the West Fissure Fault System Possible narrow, elongate system (similar in morphology to Ministro Hales directly to the north) Minor historic drilling cut potassic alteration with minor quartz veins and highly anomalous Cu and Mo Requires negotiation of in-holding (3rd party) 26
Target L Simplified Geology & Magnetic Signature Target L Along West Fissure Fault Target F Along West Fissure Fault 27
Target L Schematic Section Target L Section 7502400N Geology & Alteration Open potential at depth, and along strike to N and S Morphology similar to Ministro Hales mine, some 23 Km due N along same West Fissure Fault However, geochemistry is more akin to Esperanza mine 28
Target L Comparison with Ministro Hales Mine Target L & Ministro Hales Sections at same scale Anomaly L Target L Section through Codelco s Ministro Hales mine at same scale as Anomaly L Ministro Hales located 23 Km N of Anomaly L along same West Fissure Fault Ministro Hales resource ~ 1.1Bt @ 1% Cu Ministro Hales 29
Target L Surface outcrop Monzo-diorite porphyry with phyllic alteration D veinlets Leached and oxidised goethite capping ANOMALY L TARGET MODD34-10 Monzo-diorite porphyry with early biotite alteration accompanied by magnetite B veinlets with pyrite-molybdenite Late intermediate argillic alteration Porphyry Cu-(Au-Mo) system Model type: - Ministro Hales (23 Km N) and/or Esperanza (44 Km SSW) Secondary target to south at Anomaly F Focus on potassic alteration beneath current levels of drilling and along strike under cover Narrow, elongate target (similar morphology to Ministro Hales mine) 30
Arrieros Covered Pampa Copper-Gold Target Arrieros at Montezuma West Fissure Fault Zone 31
Arrieros Covered Pampa Targets Arrieros Large, fault-bounded (Miocene) sedimentary basin, with likely >250m of post mineral cover (gravels and caliche) Historic drilling mostly shallow water wells. Several drill platforms not executed. No mineral exploration drill holes in principal area of interest Significant magnetic feature typical of Tertiary magmatic centres along Domeyko Cordillera All significant porphyry copper centres associated with similar magnetic features 32
Arrieros Magnetic Signature Arrieros Only historic water wells in vicinity of area of interest Arrieros Significant magnetic feature under cover possibly representing Tertiary magmatic centre Arrieros Both magnetic highs (potassic) and magnetic lows (phyllic-enriched) could represent targets 33
Arrieros ARRIEROS TARGET Significant magnetic features under postmineral cover Demonstrable and extensive porphyry copper style alteration and mineralisation in flanking outcrops C-A-B to the west Melissa to the north No observable historic exploration drilling in vicinity of magnetic features Smaller magnetic features also of interest Porphyry Cu-Au (-Mo) system(s) Model type: - Prograde potassic Cu-Au core with magnetite magnetic high (e.g. SW Pacific examples) Model type: - Retrograde magnetite destructive alteration lithocap above mineralised porphyry (e.g. Escondida) Possible oxide-copper and/or secondary enrichment beneath gravels and leached capping 34
Montezuma IP Scale Comparison Montezuma IP Chargeability Reveals + 20 Km N-S belt of hydrothermal alteration related to porphyry copper-style systems along principal West Fissure / Los Toros / Centinela Fault System Series of hydrothermal systems comparable in scale to Codelco Norte Division Chuquicamata District Potential to discover one or more significant porphyry-related systems Additional prospectivity at Melissa and under Arrieros covered pampa 35
Montezuma Target Summary Target Revelo Work Potential Follow-up Melissa 42 Km 2 geological mapping @ 1:10,000 Re-logging of 6 out of 11 drill holes (1,898m) Mineral spectrometry Relict sulphide analyses (~ 23 samples) Review of surface geochemistry Review of magnetics data Schematic geological section Porphyry Cu-Au Post-Mesozoic age Mineralised structure cuts Mesozoic sediments (i.e. post-mesozoic mineralisation) Possible SW Pacific examples Zone of variable phyllic alteration oriented NW-SE, with abundant Cu-oxides at surface, associated with oxidising secondary chalcocite after chalcopyrite, in veins and structures 2 Km x 0.5 Km target area (plus covered extensions to N) Widespread intermediate argillic alteration subepithermal levels exposed (including mineralised veins) Detailed magnetics acquisition (50m line spacing) 3-D modelling of magnetics data Statistical processing of surface and drill hole geochemical data IP or resistivity sections (20 Km) Drilling RC 3,000m (6 holes) Anomaly B 25 Km 2 geological mapping @ 1:10,000 Re-logging of 21 out of 21 drill holes (11,686m) Mineral spectrometry Review of surface geochemistry Review of magnetics data 3 x geological sections Porphyry Cu-Au (-Mo) Mid-Tertiary (U-Pb 43.9 Ma) Esperanza style (Centinela District) Intense and large hydrothermal system with multiple porphyries and breccias and vein types Key drill intercepts guide towards potassic core beneath current drilling 1.5 Km x 100-500m target area (plus covered extensions to immediate east, southeast and southwest) Detailed magnetics acquisition (50m line spacing) 3-D modelling of magnetics data Statistical processing of surface and drill hole geochemical data Resistivity sections (20 Km) Drilling DD 4,000m (5 holes) Anomaly A 12 Km 2 geological mapping @ 1:10,000 Re-logging of 13 out of 20 drill holes (4,492m) Mineral spectrometry Review of surface geochemistry Review of magnetics data Porphyry Cu-Au (-Mo) Mid-Tertiary Esperanza style (Centinela District) Beneath advanced argillic lithocap target area confined between West Fissure Faults oriented N-S 1.2 Km x 100-200m target area (plus covered extensions to immediate east, southeast and southwest Secondary zone along strike to north Detailed magnetics acquisition (50m line spacing) 3-D modelling of magnetics data Statistical processing of surface and drill hole geochemical data Resistivity sections (10 Km) Drilling DD 2,500m (3 holes) 36
Montezuma Target Summary Target Revelo Work Potential Follow-up Anomaly C 12 Km 2 geological mapping @ 1:10,000 Re-logging of 6 out of 10 drill holes (1,756m) Mineral spectrometry Review of surface geochemistry Review of magnetics data Sub-Epithermal system Zn (-Au-Ag) Mid-Tertiary Covered area to north untested potential Complete revision of drill holes Construct cross sections Detailed magnetics acquisition (50m line spacing) 3-D modelling of magnetics data Evaluate drilling options Anomaly L Arrieros (Covered Pampa Targets) Newmont Targets 2 Km 2 geological mapping @ 1:10,000 Re-logging of 4 out of 4 drill holes (1,424m) Re-processing of ground magnetics survey Review of existing drill holes at surface (none in target area) Antena Eliana Biri Encontrado Target Vi Porphyry Cu-Au (-Mo) Mid-Tertiary (K-Ar 39.1 Ma) Esperanza style (Centinela District) with morphology of Ministro Hales Potassic alteration in drill holes with phyllic alteration at surface 850m x 100-250m target area Porphyry Cu-Au-Mo Mid-Tertiary Under > 250m post-mineral cover Possibility to find secondary enrichment Possibility to find hypogene centres Increase area of geological mapping Construct cross sections Detailed magnetics acquisition (50m line spacing) 3-D modelling of magnetics data Negotiate 3 rd party in-holding Resistivity sections (10 Km) Drilling DD 4,000m (5 holes) 3-D modelling of magnetics data Possible acquisition of new magnetics Test lines for deep CSAMT Grid drilling 6 km x 6 km grid (1 km centres) or test individual magnetic / CSAMT anomalies None Abandon Property abandonment (~15,000 Ha) will be completed in Q1 2018 (reducing overall area from ~45,000 Ha to 30,000 Ha) 37
Montezuma Project (Copper-Gold) 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 ~ 30,000 Hectares 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 38
Revlo- Corporate Summary 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 17 projects available for Option / JV / Sale 2 Option / Sale / Royalty Agreements 7 Royalty Interests * 100Km 39
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 40