A Leading Zinc Junior in Established Canadian Mining Districts · A Principal in D+H Group LLP with...

A L e a d i n g Z i n c J u n i o r i n E s t a b l i s h e d C a n a d i a n M i n i n g D i s t r i c t s

TSX-V: CNX I OTCQX: CLLXF

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 reflect 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 identified 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 differ 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 financial condition or results of operations could differ 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 reflect 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 James Pickell, P.Geo, a consultant to the Company, and a Qualified

Person as defined by National Instrument 43-101.

F O R W A R D L O O K I N G I N F O R M A T I O N

Callinan Mines, founded by Jack Callinan in 1927, has had a major presence in the Flin Flon mining district in Manitoba, Canada

777 VMS Mine, discovered on Callinan claims, commences production and royalty payments begin

Callinan Mines splits into two entities: Callinan Royalties and Callinex, which holds the exploration portfolio today

Callinex renews exploration focus on zinc and copper-rich massive sulphide deposits

Callinex acquires a portfolio of zinc assets in Eastern Canada with zinc prices near five year lows

Announces a major expansion of the Nash Creek Deposit

1927

2011

O U R H I S T O R Y

2014

2016

2017

2004 To discover and develop

base and precious metal

rich deposits within

established Canadian

mining districts

O U R M I S S I O N

3

FOCUSED ON BASE METAL DISTRICTS

3 T S X - V : C N X | O T C Q X : C L L X F C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

SHARE PERFORMANCE

C O R P O R A T E O V E R V I E W

Closing Price(01/18/2018)

$0.40

52-WeekRange

$0.28 - $0.48

Average Daily Volume (3 - mo)

183,977

RECENT TRADING

Shares Outstanding

78.3M

Options Outstanding*

6.4M($0.34 VWAP)

(Excludes 6.7M RSU’s with a 10 year vesting schedule)

Warrants Outstanding

4.0M($0.75 VWAP)

CAPITAL STRUCTURE

Market Cap

$30.9MDebt

$0Cash

$5.7MAs of 09/30/2017

ENTERPRISE VALUE

TSX-V: CNX I OTCQX: CLLXF

4T S X - V : C N X | O T C Q X : C L L X F C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

INSTITUTIONS 31%

INSIDERS & CLOSE ASSOCIATES

29%

RETAIL INVESTORS

40%

OWNERSHIP BREAKDOWN

- Resource Capital Funds- Sprott Group- Plethora Precious Metals Fund - Fieldhouse Capital Management

C A L L I N E X c o r p o r a t e P R E S E N T A T I O N 4T S X - V : C N X | O T C Q X : C L L X F

Mike Muzylowski Chairman

Max PorterfieldCEO, President and Director

Jordan Butler VP Corporate development

Matthew Anderson Chief financial officer

A renowned geologist and member of the Canadian Mining Hall of Fame with over 50 years of experience which has included the discovery and development of 16 mineral deposits through to production

Over ten years of experience in natural resources and financial markets, previously with GoldMining Inc., Uranium Energy Corp. and US Global Investors

Over eight years of experience in the resource sector specializing in identifying and evaluating mineral properties. Previously, Financial Analyst with Americas Bullion Royalty Corp. and Till Capital

A Certified Professional Accountant with significant experience in financial and accounting related functions for natural resource issuers

M A N A G E M E N T T E A M

5 T S X - V : C N X | O T C Q X : C L L X F C A L L I N E X c o r p o r a t e P R E S E N T A T I O N 5 T S X - V : C N X | O T C Q X : C L L X FC A L L I N E X c o r p o r a t e P R E S E N T A T I O N

d i r e c t o r s A n d a d v i s o r y b o a r d

D I R E C T O R S A D V I S O R Y B O A R D

Keith Minty

An experienced mining engineer currently serving as the Senior VP of Business Development at Stope Capital Advisors and a Director of Auryn Resources Inc., previously the Chief Operating Officer of Thani Emirates Resource Holdings Ltd.

Carlo Civelli, Chairman

Since founding Clarion Finanz AG in 1980, Mr. Civelli has been instrumental in funding early stage investments, nearly a dozen of which have developed into billion dollar market cap companies

Michael Louie

A Principal in D+H Group LLP with 25 years of accounting experience, specifically working on behalf of First Nations organizations and specializing within the Canadian mining sector

Jason Dunning

Over 20 years experience in base and precious metal exploration, currently serving as the Manager of Nystar’s Mining Group, one of the world’s largest zinc producers, and previously a Project Geologist with Hudbay focused on the Flin Flon area

Nico Civelli

An independent financial advisor specializing in natural resources, and the VP of Finance for Pacific LNG which recently sold to Oil Search Ltd. for USD $900 million

Steve Swatton

Over 28 years of experience in both technical and senior managerial experience, previously the Global Head of Business Development for BHP Billiton’s Exploration Division

Jayant Bhandari

A Senior Analyst of Anarcho Capital, distinguished speaker and published author, Mr. Bhandari advises institutional investors about opportunities in the natural resources sector on a global scale


T e c h n i c a l T e a m

Canadian Mining Hall of Fame Inductee and PDAC Developer of the Year award PDAC Bill Dennis Prospector of the Year award

Mike MuzylowskiChairman of the Board

Involved in the discovery of 12 VMS mines in the Flin Flon district of Manitoba, Canada. His discoveries include the Trout Lake mine, which operated from 1982-2012. Mr. Muzylowski received the 1988 PDAC Developer of the Year award and is a 2011 inductee into the Canadian Mining Hall of Fame.

Jim Pickellchief Geologist

Over 40 years of VMS exploration experience globally. Notable discoveries include the Callinan North, Konuto Lake and 777 ore bodies within the Flin Flon district of Manitoba, Canada. Mr. Pickell is a recipient of the PDAC Bill Dennis Prospector of the Year Award for his role in the discovery of the 777 Mine.

Alan Vowles chief Geophysicist

Over 35 years of VMS exploration experience within the North America and an integral member of the HudBay team that discovered the Lalor deposit within the Flin Flon district of Manitoba, Canada. Mr. Vowles is a recipient of the PDAC Bill Dennis Prospector of the Year Award for his role in the discovery of the Lalor Mine.

JJ O’DonnellVP Exploration

Over 25 years of VMS exploration experience within Canada while holding senior positions with Callinex, HudBay, Selwyn Chihong Mining and Granges. Mr. O’Donnell has been instrumental in the exploration and development of the world-class Howard’s Pass Zinc Project located in the Yukon, Canada.

TROUT MINE +22 MT

LALOR MINE +25 MT

777 MINE +21 MT

7 T S X - V : C N X | O T C Q X : C L L X FC A L L I N E X c o r p o r a t e P R E S E N T A T I O N

magma

mass of sulphide deposits

sedimentation

seawater seepage

sea �oor

heat

Ag

Au

Cu

Zn

HIGH GRADE

Polymetallic deposits often containing zinc, copper, lead, gold and silver

FORMATION

Deposits occur where mineral rich, superheated water is brought to the surface by volcanic activity

DISTRICT SCALE

Most deposits occur in clusters that define major mining districts, such as Flin Flon and Bathurst

PREVALENCE

350 deposits and major VMS occurrences in Canada; Bathhurst and Flin Flon Camps are the top two jurisdictions in the nation1

Source: 1 Mineral Deposits of Canada, Volcanogenic Massive Sulphide Deposits

VOLCANOGENIC MASSIVE SULPHIDE DEPOSITS


Zinc Supply: Stalling Production Growth

Uncommitted Projects Increasingly Delayed

Existing and Fully Committed Mines

Zinc Mine Production has Peaked

201010,000

11,000

12,000

13,000

14,000

Thou

sand

Ton

nes

Mine Production Secondary Demand

15,000

16,000

17,000

2013 2016 2019 2022

Thou

sand

Ton

nes

0

500

1,000

2018Last Year

2020Last Year

2022FLast Year

2018Today

2020Today

2022Today

1,500

2,000

2,500

3,000

Base Highly Probable

Source: Wood Mackenzie, CRU, Teck


Dwindling Global Zinc Inventories

Source: Bloomberg

May

-12

May

-13

May

-14

May

-15

May

-17

May

-16

Jul-1

2

Jul-1

3

Jul-1

4

Jul-1

5

Jul-1

6

Sep-

12

Sep-

13

Sep-

14

Sep-

15

Sep-

16

Nov

-12

Nov

-13

Nov

-14

Nov

-15

Nov

-16

Jan-

13

Jan-

14

Jan-

15

Jan-

16

Jan-

17

Mar

-13

Mar

-14

Mar

-15

Mar

-16

Mar

-17

0.60

0.70

0.80

0.90

LME SHFE LME Cash Price

1.00

US$

/lb kt

1.10

1.20

1.30

1.40 1800.0

1600.0

1400.0

1200.0

1000.0

800.0

600.0

400.0

200.0

0.0


portfolio of zinc assets

• Portfolio of advanced stage zinc rich VMS deposits located in established Canadian mining jurisdictions

• All mineral resources start at or near surface

• Deposits located near processing facilities and essential mining infrastructure

• Provides exposure to rising metal prices with deposits containing sizeable zinc, gold and silver resources

Buchans District

Bathurst District

Flin Flon District


bathurst MINING District

Modified from Goodfellow, 2003Clusters of deposits make up the Bathurst Mining District

CLUSTER EFFECT VMS DEPOSITS

PRODUCTION HISTORY

One of the largest massive sulphide belts in the world with more than 130Mt of ore produced, commonly Zn-Pb-Cu-Ag-Au

GEOLOGICAL ENDOWMENT

Over 45 volcanic-hosted massive sulphide deposits including the 230Mt Brunswick No. 12, 70 Mt Caribou Mine and 69 Mt Heath Steel Mines

MINING INFRASTRUCTURE

Great access to power, water, roads and processing facilities in a major mining district

30

20

10

5

3

10.1 1 10 100 1000

Pb +

Zn

(wt.

%)

Million Tonnes

Caribou

BMS #12

SuperjackNash Creek


Quebec

N

• Advancing the project towards a maiden PEA foran open pit operation with a standalone processingfacility

• Nash Creek Deposit is open for expansion in severaldirections; recent drilling has expanded length by+40% since 2016

• Excellent infrastructure highway and transmissionlines 1 km from deposit; seaport, smelter, railwayand power plant <25 km by road

• Updated resource estimate underway to add anadditional 56 holes drilled in 2017

• 2016 Indicated resource containing 712 millionpounds of Zn Eq. contained within 9 Mt of 3.6% ZnEq. and an Inferred resource containing 88 millionpounds of Zn Eq. contained within 1.1Mt grading3.6% Zn Eq.

n a s h c r e e k p r o j e c t

SUPERJACK

NASH CREEK

Caribou Mine

Brunswick Mine #12

Brunswick Mine #6

Heath Steele Mine

Bathurst

25 KM

N

LEGENDProcessing FacilityLead Smelter

Mine Road Power Rail Port

City


A Development stage asset

Callinex is advancing the Nash Creek Project towards completion of a maiden Preliminary Economic Assessment

Plans to subsequently commence permitting activities with the submission of an Environmental Impact Assessment

OPEN PIT MINING

Anticipating 15 to 20 milliontonnes of open pit material forprocessing

GRADE

Potential for an average head grade to 5-7% Zn Eq. with dense media separation

RECOVERY

Metallurgical tests indicate recoveries of 91% Zn, 82% Pb and 31% Ag and marketable zinc and lead concentrates

200m

NSURFACE NASH CREEK MINERAL RESOURCES

LEGEND

Nash Creek Mineral Resources Zinc Mineralization Lead Mineralization

Newly discovered extension

OPEN

OPEN


Potential resource expansion

• The current mineral resource is open for expansion in all directions, particularly along strike

• A maiden 2017 drill program expanded the length of the deposit by 600m to the north, along a coincident zinc-lead soil anomaly that extends to the highway

• Highlights from the 2017 drill program includes*:

NC17-233 intersected 43.9m grading 3.1% Zn Eq. including 9.5m of 6.5% Zn Eq. at a starting depth of 30.1m;

NC17-245 intersected 18.7m of 5.8% Zn Eq. including 5.0m 8.9% Zn Eq. at a starting depth of 10.0m; and

NC17-257 intersected 15.0m of 7.2% Zn Eq. including 9.0m of 11.1% Zn Eq. at a starting depth of 113.0m

• Only two of five known mineralized zones are included in the resource and are targeted for additional exploration

*See News Releases dated September 5, 2017, September 12, 2017 and January 18, 2018


District scale land package

Potential to identify additional zinc-lead deposits along a 20 km long trend with only ~2.5 km having been drill tested

Plans to commence a reconnaissance exploration program on the land package in 2018

VMS deposits almost always occur in clusters; however, Nash Creek is the only known VMS deposit in the area

Limited exploration previously conducted by Falconbridge, Noranda , Novagold and BHP, which indicated potential for base metal discoveries

Highlight of mineral occurrences over the southern portion of the property include:

• 5.5% Cu and 3.4% Cu

• 3.5% Zn, 2.5% Pb and 1,500 g/t Ag

• 9.1% Zn and 2.1% Pb

• 8.1% Zn and 10.9%

Nash Creek Deposit

8.1% Zn and 10.9% Pb

9.1% Zn and 2.1% Pb

3.5% Zn, 2.5% Pb and 1,500 g/t Ag

5.5% Cu and 3.4% Cu

N

LEGENDBase Metal Occurances

Claim Boundary

Provincial Highway 11

Major Transmission Line

4km


Infrastructure Advantage at Nash Creek

Transects Property: Provincial Highway 11 Leading to the Port of Belledune

Transects Property: Transmission lines from the nearby Belledune Power Plant

25km by highway: Port of Belledune that includes railway, deep water port, 450 Mw power plant and Glencore’s smelter

100 km by highway: Two mill sites including Trevali’s 3,000 TPD Caribou Mine and Mill


• Near-surface Inferred resource of 3.2Mt grading4.6% Zn Eq. containing 328 million pounds ofZn Eq.

• Located 15km from the ‘supergiant’ Brunswick#12 Mine, recently one of the largest underground zinc mines in the world

• Project covers the Caribou and Brunswickhorizons which hosts on average 15-20 Mtgeologic deposit

• Plans to include a small higher-grade starter pitas part of the upcoming PEA at Nash Creek

• Recently discovered near-surface zinc zone thatis wide open for expansion

s u p e r j a c k p r o j e c t


SUCCESS RATE

Over 50% of deposits have been advanced to production, totaling 32 mines which have led to 86 consecutive years of mining

INFRASTRUCTURE

Over $1.6 billion invested towards mine development with road, rail, power and water infrastructure to facilitate quick development of new discoveries

TIMELINES AND CAPEX

Typically less than six years from discovery to development with reduced capital expenditures

FLIN FLON MINING DISTRICT

Flin Flon (100 Mt) Snow Lake (60 Mt)

Clusters of VMS deposits make up the Flin Flon/Snow Lake mining districts in the Flin Flon Greenstone Belt

CLUSTER EFFECT

Recent discoveries have typically been larger in size and deeper than previously discovered

DEPTH OF MINES Initial Production

Average Depth Deposit Size

-1500

-1200

-900

-600

-300

0

20+

16

12

8

4

01916 1930 1948 1955 1955 1982 1990 2004 2013 2014

Ave

rag

e D

ep

th (

m)

De

po

sit S

ize

(M

illio

n To

nn

es)

19751969

777Trout Lake Lalor

ReedNorth Star

Flin Flon

Cuprus

MandyDon Jon

Centennial

Callinan

Pine Bay


N

Flin Flon Project

Big Island Project

Flin Flon

Pine Bay Project

777 Mine Processing Facility

LEGEND Deposit

Historic Mine

Pine Bay Shaft

Emerging Callinex Discovery

Callinex Claims

Callinex Mining Lease

HudBay Claims

Paved Road

Power

Rail

Strategic Properties Near Hudbay’s Flin Flon Operations


• Strategic property totaling 6,000 sq. ha located 16 km to Flin Flon, MB

• Advanced permitting status that includes the right to conduct mining activities

• Power, water and road access at site to service historic shaft and underground workings

• Property covers 10 km long trend consisting of at least four stacked VMS horizons

• Plans to complete a 3-D IP survey and RIM survey on deep drill holes associated with several mineralized zones

p i n e b ay p r o j e c tN

Pine Bay Project

N

KILOMETERS

Deposit Mine

Mine Shaft


Callinex Claims Callinex Mining Lease HudBay Claims Road Power Rail

LEGEND


• Explored by Placer Dome during the 1990s, where they had a mandate to discover a 30 Mt VMS deposit

• Covers one of the largest felsic rock packages within the belt, the primary host rock for VMS deposits

• Large alteration zone spanning 1,100m long and up to 700m wide has been overturned and is facing to the west, adjacent to three VMS horizons

• Three stacked horizons host five mineralized zones including the Pine Bay Copper deposit

PINE BAY area

POTENTIAL FOR A LARGE VMS DEPOSIT + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

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+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

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+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

KILOMETERS

0 2

N

Deposit

Historic Mine

Mine Shaft


Callinex Claims


HudBay Claims

Alteration Zone

KILOMETERS

0 2

N

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

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+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

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Baker Patton Felsic Complex

Road

Power

LEGEND

N


• Callinex discovered 10.3m of 13.1% Zn Eq. (6.0% Zn, 1.8 g/t Au, 60.4 g/t Ag, 0.7% Cu and 0.4% Pb) by extending a previous Placer Dome drill hole by 38m

• Hole intersected most significant gold and silver results from 625 holes drilled from over 80 years of exploration at the project

• Nature of mineralization suggests the VMS system is long-lived and the intersection occurs at the edge of the system

Proof of Concept with New Discovery

Hole From (m) To (m) Interval (m) Zn Eq (%) Zn (%) Au (g/t) Ag (g/t) Cu (%) Pb (%)284-3-93-DPN 998.80 1010.26 11.46 12.23 5.61 1.65 56.38 0.68 0.35Including 999.26 1009.59 10.33 13.06 6.00 1.78 60.39 0.71 0.35

Including 999.80 1004.00 4.20 20.77 11.82 2.43 73.77 0.70 0.73Including 999.80 1002.50 2.70 26.35 16.37 2.57 79.21 0.86 0.98

Cabin VMS Horizon Baker Patton VMS HorizonPine Bay VMS Horizon

New Discovery – 10.3m of 13.1 Zn Eq.


N

• Strategic property located 10km east from Flin Flon, MB

• The area may contain a similar rock package that host the Flin Flon, Callinan and 777 Mines that have collectively produced over 100 million tonnes of ore.

• Project contains the Tara Lake Deposit which is highlighted by previous drill results including 7.4m of 35% Zn Eq, 12.4m of 34% Zn Eq. and 19.6m of 24% Zn Eq.

• The deposit was discovered in 1987 and was not explored from 1991-2016

• Drilling planned to test a newly identified 450m x 675m borehole target with magnetic support down-plunge from the deposit*

*See News Releases dated March 20, 2017 and January 18, 2018

Big Island Project N

Big Island Project

LEGEND Deposit

Historic Mine

Callinex Claims


HudBay Claims

Paved Road

Power

Rail

TARA LAKE DEPOSIT

N


• Advanced stage VMS project located in Newfoundland, Canada

• 14.1Mt Inferred resource grading 6.2% Zn Eq. containing 1.9 billion pounds of Zn Eq. (including 484,000 oz Au at 1.1 g/t Au)

• Resource starts at surface and extends to a vertical depth of 350m

• Advanced permitting stage with resource contained within current Mining Lease

• High-grade mineralization open at depth with assays including 4.67m of 15.1% Zn, 4.4 g/t Au, 57.9 g/t Ag and 0.36% Cu down-plunge from resource*

*See News Release dated May 16, 2016

P o i n t l e a m i n g t o n p r o j e c t

Duck Pond

Buchans

PT. LEAMINGTON PROJECT

Bishop’s Falls

Grand Falls WindsorBadger

South Brook

LEGEND Processing Facility Mine

Road Power Trail Port

City

N


Inferred Mineral Resources*

Indicated Mineral Resources*

Project Cut-off (Zn Eq) Tonnes Zn Eq. (%) Zn (%) Pb (%) Ag (g/t) Au (g/t) Cu (%) Zn Eq.

(M Lbs)Nash Creek 2.0 9,033,000 3.58 2.79 0.57 18.16 n/a n/a 712Total 9,033,000 3.58 2.79 0.57 18.16 n/a n/a 712

Project Cut-off (Zn. Eq) Tonnes Zn Eq. Zn (%) Pb (%) Ag (g/t) Au (g/t) Cu (%) Zn Eq.

(M Lbs)

Point Leamington 4.0 14,093,000 6.15 1.88 0.02 17.12 1.07 0.42 1,910Superjack 1.5 3,211,015 4.63 3.01 0.78 29.45 n/a 0.27 328

Nash Creek 2.0 1,113,000 3.58 2.83 0.57 15.51 n/a n/a 88

Total 18,417,015 5.73 2.13 0.19 19.17 0.82 0.37 2,326

Total mineral resources• Large inventory of zinc resources within established Canadian mining jurisdictions totaling 712 million pounds of Zn Eq.

in the Indicated category and 2.3 billion pounds of Zn Eq. in the Inferred category.

See News Release dated November 9, 2017


$-‐

$0.050

$0.100

$0.150

$0.200

$0.250

Peer Group ComparisonEv/Zn Lbs

Comparative valuations

Data sourced from S&P Global Market Intelligence based on screening all primary zinc companies with a market capitalization

between $20 to $250M CAD as of January 16, 2018

Re-rating Catalyst Ahead


Upcoming Catalysts for 2018

Superjacknash creek

• Follow-up on new Superjack D Zone discovery with additional drilling

• Test several untested conductors identified from a recently completed ground electromagnetic survey

Flin Flon

• Assay results from recently completed 35 hole program

• Updated resource estimate and completion of maiden PEA

• Drill program to expand Nash Creek Deposit along strike and test satellite zones

• Complete initial exploration program over district-scale land package

• Commence drilling program to test off-hole target from recently completed drilling program at the Big Island Project

• Conduct IP survey over the Pine Bay Project and a RIM survey between boreholes


I N V E S T M E N T S U M M A R Y

PROJECT PORTFOLIOSTRONG TEAM TIGHT CAPITAL STRUCTURE

Several near-term catalysts highlighted by an updated resource estimate and maiden PEA in the first half of 2018

Technical team involved in the discovery and development of several major base metal deposits in Canada

Aggressively advancing a portfolio of zinc-rich assets within prolific Canadian mining jurisdictions

29 T S X - V : C N X | O T C Q X : C L L X FC A L L I N E X c o r p o r a t e P R E S E N T A T I O N

T S X - V : C N X | O T C Q X : C L L X F

604.605.0885 [email protected] www.callinex.ca

Corporate Head Office 1555 - 555 West Hastings Street Vancouver, BC Canada V6B 4N4

President and CEO: Max Porterfield

Corporate Counsel: Northwest Law Group

Auditors: PwC

A Leading Zinc Junior in Established Canadian Mining Districts · A Principal in D+H Group LLP with...

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