TSX-V: CNX I OTC: CLLXF A L e a d i n g Z i n c e x p l o r a t i o n a n d D e v e l o p m e n t c o m p a n y
2 F O R WAR D L O O K I N G I N F O R M A T I O N Calline x Co rpo rate P r e se ntat i o n This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward- looking information and statements refmect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can generally be identifjed by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”, “could”, “continues”, “estimate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof. By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to difger materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company’s actual fjnancial condition or results of operations could difger materially from that or those described herein as anticipated, believed, estimated or expected. Any forward-looking information or statements in this presentation speak only as at the date of this presentation. Except under the applicable securities laws, the Company does not intend, and expressly disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward looking information and statements, whether to refmect changes in the Company’s expectations with regard thereto or as a result of new information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based. Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements. The technical content of this presentation has been reviewed and approved by JJ O’Donnell, P .Geo, a consultant to the Company, and a Qualifjed Person as defjned by National Instrument 43-101. TSX-V: CNX I OTC: CLLXF
OUR HISTORY 3 C alli ne x Co rpo rate P r e se ntatio n FOCUSED ON BASE METAL DISTRICTS Callinan Mines, founded by Jack Callinan in 1927 OUR MISSION 1927, has had a major presence in the Flin Flon mining district in Manitoba, Canada 777 VMS Mine, discovered on Callinan 2004 To discover and develop claims, commences production and royalty payments begin base and precious metal Callinan Mines splits into two entities: rich deposits within 2011 Callinan Royalties and Callinex, which holds the exploration portfolio today established Canadian mining districts Callinex renews exploration focus on zinc 2014 and copper-rich VMS deposits Callinex acquires a portfolio of zinc assets 2016 with zinc prices near fjve year lows 2018 Announces major expansion of the Nash Creek Deposit and maiden PEA TSX-V: CNX I OTC: CLLXF
4 C o r p o r at e ov e rv i e w Calline x Co rpo rate P r e se ntat i o n ownership breakdown capital structure enterprise value 59% Market Cap Shares Outstanding 85.8M $9.4M retail investors 21% Options Outstanding* Debt 6.1M $0 institutions ($0.34 VWAP) - Sprott Group (Excludes 6.1M RSU’s with a 10 year vesting schedule) - Delbrook Capital Advisors Warrants Outstanding Cash 20% $2.9M 4.0M As of 12/31/2018 ($0.75 VWAP) insiders & close associates TSX-V: CNX I OTC: CLLXF
5 TSX-V: CNX I OTCQX: CLLXF C alli ne x Co rpo rate P r e se ntatio n share performance recent trading Closing Price (05/28/2019) $0.065 52-Week Range $0.065 - $0.255 Average Daily Volume (1 - mo) 52,809 TSX-V: CNX I OTC: CLLXF
5 Year Correlation between Zinc Prices 6 Calline x Co rpo rate P r e se ntat i o n and LME Inventory Levels 900000 1.80 8000000 1.60 7000000 1.40 6000000 ANNOUNCES MAIDEN PEA AT NASH USD / lb 5000000 CREEK Tons 1.20 4000000 1.00 3000000 2000000 0.80 ACQUIRES ZINC PORTFOLIO 1000000 0.60 Mar14 Aug14 Feb15 Jul15 Jan16 Jul16 Dec16 Jun17 Nov17 May18 Oct18 LME STOCK LEVELS ZINC PRICES TSX-V: CNX I OTC: CLLXF
our TEAM 7 C alli ne x Co rpo rate P r e se ntatio n James Pickell Killian Ruby Max Porterfjeld Consulting geologist CEO, President and Director Chief financial officer A Chartered Professional Accountant Over 40 years of VMS exploration Over ten years of experience in natural and was formerly an Assurance Partner experience globally. Notable discoveries resources and fjnancial markets, previously at Wolrige Mahon LLP (now Baker Tilly include the Callinan North, Konuto Lake and with Brazil Resources Inc., Uranium Canada), and prior to that a Senior Manager 777 ore bodies within the Flin Flon district of Energy Corp. and US Global Investors. with KPMG, working predominantly with Manitoba, Canada. Mr. Pickell is a recipient He is a graduate of Texas Tech University, public companies. of the PDAC Bill Dennis Prospector of the with a bachelor’s degree in business Year Award for his role in the discovery of administration. the 777 Mine. JJ O’Donnell Mike Muzylowski Alan Vowles Consulting geologist consulting geologist & Advisor consulting geophysicist Over 25 years of VMS exploration experience Involved in the discovery of 12 VMS Over 35 years of VMS exploration within Canada while holding senior positions mines in the Flin Flon district of Manitoba, experience within the North America with Callinex, HudBay,Selwyn Chihong Canada. His discoveries include the Trout and an integral member of the HudBay Mining and Granges. Mr. O’Donnell has Lake mine, which operated from 1982- team that discovered the Lalor deposit in been instrumental in the exploration and 2012. Mr. Muzylowski received the 1988 Saskatchewan. Mr. Vowles is a recipient of development of the world-class Howard’s Pass the PDAC Bill Dennis Prospector of the Year Zinc Project located in the Yukon, Canada. Award for his role in the discovery of the Lalor Mine. TSX-V: CNX I OTC: CLLXF
portfolio of zinc assets 8 Calline x Co rpo rate P r e se ntat i o n Buchans District Flin Flon District Bathurst District • Portfolio of advanced stage zinc rich VMS • Deposits located near processing facilities deposits located in established Canadian and essential mining infrastructure mining jurisdictions • Provides exposure to rising metal prices with • All mineral resources start at or near surface deposits containing sizeable zinc, gold and silver resources TSX-V: CNX I OTC: CLLXF
bathurst overview 9 C alli ne x Co rpo rate P r e se ntatio n Quebec N NASH CREEK NEW BRUNSWICK LEGEND Processing Facility Lead Smelter Power Station Bathurst Power Caribou Mine & Mill Rail Station Rail Brunswick Mine #12 Deep Water Port Mine HEADWAY Road Brunswick Mine #6 City SUPERJACK 20 km TSX-V: CNX I OTC: CLLXF Heath Steele Mine
bathurst MINING District 10 Calline x Co rpo rate P r e se ntat i o n CLUSTER EFFECT VMS DEPOSITS 30 20 BMS #12 10 Pb + Zn (wt. %) Caribou 5 Superjack Nash Creek 3 1 0.1 1 10 100 1000 Million Tonnes Clusters of deposits make up the Bathurst Mining District Modifjed from Goodfellow, 2003 PRODUCTION HISTORY GEOLOGICAL ENDOWMENT MINING INFRASTRUCTURE One of the largest volcanic-hosted Over 45 volcanic-hosted massive Great access to power, water, roads sulphide belts in the world with more sulphide deposits including the 230Mt and processing facilities in a major than 130Mt of ore produced, commonly Brunswick No. 12, 70 Mt Caribou mining district Zn-Pb-Cu-Ag-Au Mine and 69 Mt Heath Steel Mine TSX-V: CNX I OTC: CLLXF
Quebec nash creek project N 11 C alli ne x Co rpo rate P r e se ntatio n • 2018 PEA outlines outlines a 10-year, 3,900 tpd open pit mining operation with a dense NASH CREEK 25 KM media separation (“DMS”) plant and 1,950 tpd conventional fmotation mill • Indicated resource containing 963 million pounds of Zn Eq. contained within 13.6Mt grading 3.2% Zn Eq. and an Inferred resource Caribou Mine Bathurst containing 407 million pounds of Zn Eq. contained within 5.9Mt grading 3.1% Zn Eq. Brunswick Mine #12 • World-class infrastructure with highway and HEADWAY Brunswick Mine #6 transmission lines 1 km from deposit; seaport, SUPERJACK smelter, railway and power plant <25 km by road Heath Steele Mine • District-scale, 150 km 2 land package hosting the Nash Creek deposit that extends for +2 km LEGEND and is open along strike in both directions Processing Facility Lead Smelter Power Station Power Rail Station Rail Deep Water Port Mine Road 20 km City TSX-V: CNX I OTC: CLLXF
12 Infrastructure Advantage at Nash Creek Calline x Co rpo rate P r e se ntat i o n TSX-V: CNX I OTC: CLLXF
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