OPEMISKA COPPER MINE COMPLEX PORE: TSXV | powerore.com FORWARD - PowerPoint PPT Presentation

OPEMISKA COPPER MINE COMPLEX PORE: TSXV | powerore.com

FORWARD LOOKING STATEMENTS We are in the mineral exploration and development business. It is inherently risky, and all potential investors should be keenly aware of this. This presentation contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that PowerOre Inc. believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond PowerOre Inc. ’s ability to control or predict, that may cause the actual results of the project to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with PowerOre Inc. ’s expectations, changes in world gold markets and other risks disclosed to the Canadian provincial securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, PowerOre Inc. disclaims any intent or obligation to update any forward-looking statement. Cautionary Statement Regarding Historical Resources The reader is cautioned that PowerOre Inc. has not undertaken any independent investigation of the dimensions, quantity or grade of the mineralization referred to above, therefore this historical data should not be relied upon. PowerOre Inc. views this historical data as a conceptual indication of the potential size and grade of deposits in the area, and this data is relevant to ongoing exploration efforts. In view of when the resources were estimated and the differences in metal price and operating costs prevailing at the time compared to today. PowerOre Inc. does not consider the resources to be compliant with respect to requirements of NI43-101. PowerOre Inc. does not treat any of the historical resources as Current mineral resources or mineral reserves The technical information contained in this PowerOre Presentation has been reviewed and approved by Charles Beaudry, P.Geo, Director and Vice President Exploration for PowerOre, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." All currency numbers are in $CAD unless otherwise stated. 2

LOCATION & INFRASTRUCTURE Henderson- Portage In place Infrastructure allows for reduced CAPEX, enabling lower grade and tonnage to be economic. Copper Rand Opemiska has Railroad, Paved Highway and Power on Site. Campbell Power Station 3

HEADLINE HOLES - SPRING 2019 DRILL RESULTS • 2.54% Copper Equivalent over 74.0 metres , starting at 28 metres • 1.01% Copper Equivalent over 162.0 metres , starting at 3 metres • 0.65% Copper Equivalent over 133.9 metres , starting at 16.1 metres • 0.30% Copper Equivalent over 284.4 metres , starting at 27.6 metres • 0.57% Copper Equivalent over 102.1 metres , starting at 15 metres • 0.56% Copper Equivalent over 97.0 metres , starting at 55 metres

HIGH-GRADE INTERSECTIONS – SPRING 2019 DRILL PROGRAM Copper Eq Interval (m) From (m) To (m) Hole ID Zone (%)* 4.65 7.9 81.1 89.0 OPM-19-19 Mill 4.15 25.0 38.0 63.0 OPM-19-18 Mill 3.07 43.0 38.0 81.0 OPM-19-14 Hinge 2.54 74.0 28.0 102.0 OPM-19-18 Mill 2.12 11.9 49.4 61.3 OPM-19-02 Hinge 1.96 19.0 81.0 100.0 OPM-19-13 Hinge 1.79 13.8 94.2 108.0 OPM-19-09 Southeast 1.76 5.5 51.0 56.5 OPM-19-06 Mill Mill 1.62 14.8 61.5 76.3 OPM-19-20 1.55 7.0 18.0 25.0 OPM-19-20 Mill Mill 1.52 26.0 76.0 102.0 OPM-19-22 1.39 10.0 141.0 151.0 OPM-19-16 Hinge Mill 1.19 7.9 14.2 22.1 OPM-19-07 1.17 13.0 97.0 110.0 OPM-19-07 Mill 1.16 5.7 53.0 58.7 OPM-19-03 Hinge 1.10 15.3 34.0 49.3 OPM-19-21 Hinge 1.09 23.8 7.2 31.0 OPM-19-04 Mill 1.01 162.0 3.0 165.0 OPM-19-14 Hinge

LONG INTERSECTIONS – SPRING 2019 DRILL PROGRAM Copper Eq (%)* Interval (m) From (m) To (m) Hole ID Zone Southeast 0.30 284.4 27.6 312.0 OPM-19-09 Mill 0.20 224.5 2.0 226.5 OPM-19-06 Mill 0.22 186.0 6.0 192.0 OPM-19-04 Hinge 1.01 162.0 3.0 165.0 OPM-19-14 Hinge 0.35 137.9 12.1 150.0 OPM-19-13 Mill 0.65 133.9 16.1 150.0 OPM-19-19 Southeast/Mill 0.32 130.6 9.0 139.6 OPM-19-07 Mill 0.48 114.0 36.0 150.0 OPM-19-22 Hinge 0.27 113.4 0.6 114.0 OPM-19-01 Hinge 0.76 105.0 2.0 107.0 OPM-19-02 Hinge 0.36 100.0 7.0 107.0 OPM-19-21 Hinge 0.56 97.0 55.0 152.0 OPM-19-16

2019 DRILL PROGRAM MAP AND ZONES

CONCLUSIONS FROM THE SPRING 2019 DRILL PROGRAM 1) Confirmation of near surface disseminated mineralization with twelve mineralized intersections over or near 100 metres 2) Mineralization in areas previously thought to be unmineralized, specifically in the Hinge Zone within the rhyolite and the Southeast Zone, which delivered a 284 metre mineralized interval 3) Newly discovered high grade veins outside of the previously mined envelope 4) Crown Pillars are thicker than anticipated

SPRING 2019 DRILL RESULTS SUMMARY Copper Equivalent (%) Interval (m) From (m) To (m) Hole ID 0.27 113.4 0.60 114.0 OPM-19-01 0.76 105.0 2.0 107.0 OPM-19-02 0.35 58.0 33.0 91.0 OPM-19-03 0.22 186.0 6.0 192.0 OPM-19-04 2.17 2.4 96.1 98.5 OPM-19-05 0.20 224.5 2.0 226.5 OPM-19-06 0.32 130.6 9.0 139.6 OPM-19-07 0.52 12.4 116.6 129.0 OPM-19-08 0.30 284.4 27.6 312.0 OPM-19-09 0.73 14.8 19.2 34.0 OPM-19-11 0.43 14.0 12.0 26.0 OPM-19-12 0.35 137.9 12.1 150.0 OPM-19-13 1.01 162.0 3.0 165.0 OPM-19-14 0.39 16.0 19.0 35.0 OPM-19-15 0.56 97.0 55.0 152.0 OPM-19-16 1.13 2.0 18.0 20.0 OPM-19-17 2.54 74.0 28.0 102.0 OPM-19-18 0.65 133.9 16.1 150.0 OPM-19-19 0.57 102.1 15.0 117.1 OPM-19-20 0.36 100.0 7.0 107.0 OPM-19-21 0.48 114.0 36.0 150.0 OPM-19-22 0.48 22.0 187.0 209.0 OPM-19-23 Copper Equivalent (“Cu Eq.”) grade including gold and silver based on 100% recoveries is calculated using the following equat ion: Cu Eq. = [(Cu % x 20 x Cu price) + ((Au grade / 34.2857) x Au price) + ((Ag grade / 34.2857) x Ag price) + (Zn % x 20 x Zn price)] / (20 x Cu price). We used Cu, Au, Ag, Co and Zn *see Appendix I for detailed intervals price of US$2.65, US$1,400 and US$14.75, $15.00 and US$1.19 respectively.

PROJECT HISTORY • Previously mined by Falconbridge between 1953-1991 • Mining operation consisted of Springer and Perry Mines • Copper + gold mining operation • Production of 23 million tonnes @ 2.4% Copper and 0.3 g/t Gold • RPA reports completed in 2013- 2014 outlined ‘Exploration Targets’* • Springer: potential of between 16 to 33 million short tons @ 1.0% - 1.4% copper and 0.37 g/t - 0.62 g/t Au • Perry: potential of between 0.5 and 1.4 million short tons @ 1.0% - 1.5% copper. Also a potential underground target between 3 and 11 million short tons @ 1.5% - 2.5% copper. • Abundance of Digitized data from Falconbridge operation • 14,500 DDH, 853,800 metres drilled (today’s value ~$80,000,000) • >300,000 assays • >1,000 maps and sections • Vendor (Ex-In) is a private group that has owned Opemiska for >25 years • 1993 – 2016 → 8,000 metres of diamond drilling, geophysics/IP, * See slide 20 for note on Conceptual Exploration Targets 10

A CHIBOUGAMAU RENAISSANCE • The prolific Chibougamau Region, located in Quebec, was actively mined between the 1950s – early 2000s, producing: • >1.5 Billion Pounds of Copper • >3 Million Ounces of Gold • Other base and precious metals including zinc and silver • Activity in the region has been increasing — underexplored in the vicinity of these past producing operations • Dore Copper Mining Corp – Cedar Bay / Various Projects • Chibougamau Independent Mines – Bateman Bay / Various Projects • Yorbeau Resources – Scott Lake Copper Project • Power Ore – Opemiska Copper Mine Complex

17% COPPER + 1.7 G/T GOLD OVER 3 METRES Opemiska Diamond Drill Hole: OP-2010-19

SELECT HISTORICAL HIGH GRADE DRILL RESULTS Grade Interval From To Hole ID Copper Eq. Copper Gold Silver (metre) (metre) (metre) (%) (%) (g/t) (g/t) 32.34 0.9 26.31 6.86 140.57 5.1 6.0 OP-119 21.83 1.9 15.20 8.57 71.37 8.5 10.4 OP-120 8.96 7.5 8.17 1.12 0.00 31.5 39.0 OP-2010-19 8.34 3.7 6.72 1.51 64.28 15.3 18.9 OP-152 6.72 4.0 5.07 2.04 25.00 5.0 9.0 OP-2016-05 6.15 10.4 4.51 2.03 24.64 4.5 14.9 OP-151 4.82 10.2 3.93 0.93 27.79 14.9 25.2 OP-138 4.62 6.1 3.37 1.54 19.67 9.2 15.3 OP-121 4.34 9.3 3.74 0.63 18.78 8.5 17.8 OP-140 *See Appendix 2 for entire list of drill intercepts 13