TSX-V: NCX TSX-V: NCX CORPORATE PRESENTATION – SEPT. 2020 Advancing the North Island copper-gold project in BC, Canada 1 1
TSX-V: NCX CAUTIONARY DISCLAIMER REGARDING FORWARD- LOOKING STATEMENTS AND INFORMATION Certain of the statements and information in this press release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking statements and information generally express predictions, expectations, beliefs, plans, projections, or assumptions of future events or performance and do not constitute historical fact. Forward-looking statements and information tend to include words such as “may,” “expects,” “anticipates,” “believes,” “targets,” “forecasts,” “schedules,” “goals,” “budgets,” or similar terminology. Forward-looking statements and information herein include, but are not limited to, statements with respect to the completion of the Proposed Arrangement and the expected structure thereof; anticipated shareholder, court and regulatory approvals; and the expected timing of closing of the Arrangement. All forward-looking statements and information are based on NorthIsle’s or its consultants' current beliefs as well as various assumptions made by and information currently available to them. These assumptions include, without limitation that shareholder and court approvals to the Proposed Arrangement will be obtained in a timely manner, and that regulatory approvals will be available on acceptable terms. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking statements and information are inherently subject to significant business, economic, and competitive uncertainties and contingencies and are subject to important risk factors and uncertainties, both known and unknown, that are beyond NorthIsle’s ability to control or predict. Actual results and future events could differ materially from those anticipated in forward-looking statements and information. Examples of potential risks are set forth in Northisle's annual report most recently filed with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators as of the date of this press release. Accordingly, readers should not place undue reliance on forward- looking statements or information. NorthIsle expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. John McClintock, P Eng. is the Qualified person responsible for the technical content of this presentation 2
TSX-V: NCX NORTHISLE OVERVIEW • Assets located on northern NORTH ISLAND PROJECT RESOURCE Vancouver Island with access IN COPPER EQUIVALENT IN GOLD EQUIVALENT to pre-existing BHP INDICATED INFERRED INDICATED INFERRED infrastructure in a mining- friendly community 8.0 3.6 3.3 1.5 • Advancing its flagship North Island Project million oz million oz billion lb billion lb 100% owned PEA stage NORTH ISLAND PROJECT ANNUAL PRODUCTION PROFILE Indicated resource: 1.8 Billion lbs of copper and (BASED ON PEA) 3.2 Million oz of gold Based on copper equivalent: Targeting +20% after-tax IRR 141 million copper pounds eq at an AISC of US$2.00/lb eq • JV with Freeport – McMoran 22 on the Pemberton Hills target Based on gold equivalent: • Sound capital structure with MINE LIFE 335koz of gold eq no warrants outstanding at an AISC of US$840/oz eq 3 The Preliminary Economic Assessment (“PEA”) is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would allow them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized.
TSX-V: NCX INVESTMENT HIGHLIGHTS Demonstrated value with North Island Project PEA, in addition to Freeport JV After-tax NPV8% of US$413m based on current PEA, with robust production and AISC profile over 22- ROBUST PEA year mine life WITH STRONG Exploration upside UPSIDE Low-risk value enhancements Brings significant credibility to the 100%-owned Hushamu property EXPOSURE TO Strong value creation potential for NorthIsle shareholders FREEPORT JV Potential to combine both areas into a single project should exploration on the JV be successful Management has a proven track record of creating shareholder value PROVEN VALUE Chairman, Dale Corman was CEO of Western Silver up to merger with Glamis (now Goldcorp) CREATION CEO, Jack McClintock was Winner of the PDAC prospector of the year award for discovery of Spence TRACK RECORD deposit, Chile British Columbia ranks as the 27th best mining jurisdiction SAFE JURISDICTION Five copper-gold mines already in production with similar grade profiles to Hushamu 4
TSX-V: NCX CORPORATE SNAPSHOT CAPITAL STRUCTURE SHAREHOLDER DISTRIBUTION Listing TSXV – NCX Share 121M shares Institutional Market Cap. C$ 12M Insiders Retail 82% 7.3M options 18% Options & Warrants No warrants Cash C$ 300k Debt None 1 YEAR SHARE PRICE BROKER COVERAGE UNIVERSE Agentis Capital – Michael Gray 5
TSX-V: NCX 40 years experience as a senior corporate officer of publicly listed companies. Extensive Dale Corman expertise in mineral exploration & development, financing, property evaluation and B.Sc, P.Eng, Chairman acquisition. Currently Executive Chairman of Western Copper and Gold Corporation. Jack McClintock 30 years experience in all facets of the mineral exploration business and MBA, P.Eng Director, formerly Exploration Manager for BHP Billiton. President and CEO Chartered Accountant with over 30 years of experience in the accounting, corporate finance, David Douglas and mining industries. He has participated in the sale or financing of over 30 private and public enterprises with a combined value CA, Director and CFO of over $300 million. Over 10 years in the mining industry with a track record of significant value creation. Currently Martino De Ciccio CFA, VP Strategy & Investor Relations at Endeavour Mining since 2015. Prior to Endeavour, held the Director position of Strategy and Business Development Manager at La Mancha Resources. Larry has 20 years of financial and business experience, gained primarily in the mining and resources sectors. Most recently, Larry was Chief Financial Officer for two junior mining Larry Yau companies where he was heavily involved in raising capital and the successful construction of CA, Director mines in North America. Previously, Larry was Manager, Corporate Development, at Placer Dome Inc. until its acquisition by Barrick Gold Corp. and participated in several high-profile, international acquisitions. He is a Canadian Chartered Accountant. 6
TSX-V: NCX NORTHISLE TIMELINE 2018: 2015: JV is announced with Acquired nearby Red Dog project in 2015 2017: Freeport for the for initial starter pit. 2011: Red Dog deposit Robust PEA is published for Pemberton Hills Northisle is spun grade higher by 50% out of Western- the Hushamu and Red Dog than Hushamu and Target copper to advance deposits has a 0.15 to 1 strip the Hushamu ratio discovery 2012-2014: 2020: Drilling found extensions and Met tests 2017: increased resource from improve Further drilling on the Hushamu demonstrates that: 250Mt to current indicated recovery Deposit remains open for 300m southeast of • resource of 370Mt rates ultimate pit limit used in PEA, suggesting that the deposit could be significantly larger A previously supposed 300 m diameter, under drilled • barren area in the southern part of the Hushamu has significant sections of above cut-off grade mineralization. This potentially could decrease the strip ratio and add to the resource base 7
TSX-V: NCX NORTHISLE IS ADVANCING A 50KM PORPHYRY DISTRICT 1) 100% owner of the PEA-stage North Island Copper-Gold Project 2) Joint Venture with Freeport on exploration grounds 8
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