Q 2 2 0 1 8

I N V E S T O R P R E S E N T A T I O N

T S X . V : M T O

Canadian Gold Exploration

and Production Company

Q 2 2 0 1 8

This presentation contains “forward looking statements” concerning the

business , operations and financial performance and condition of

Metanor Resources Inc. (Metanor). Forward-looking statements include,

but are not limited to, statements with respect to the future price of gold,

the estimation of mineral reserves and resources, the realization of

mineral reserves estimates, the timing and amount of estimated future

production, cost of production, capital expenditures, costs and timing of

the development of new deposits, success of exploration activities,

permitting time lines, hedging practices, currency exchange rate

fluctuations, requirements for additional capital, government regulation of

mining operations, environmental risks, unanticipated reclamation

expenses, timing and possible outcome of pending litigation, title

disputes or claims and limitations on insurance coverage. Generally,

these forward-looking statements can be identified by the use of forward-

looking terminology such as «plans», «expects» or «does not expect»,

«is expected», «budget», «scheduled», «estimates», «forecasts»,

«intends», «anticipates», or «does not anticipate», «believes» or

variations of such words and phrases or statements that certain actions,

events or results «may», «could», «would», «might» or «will be taken»,

«occur» or «be achieved». Forward-looking statements are subject to

known and unknown risks, uncertainties, and other factors that may

cause the actual results, level of activity, performance or achievements of

Metanor to be materially different from those expressed or implied by

such forward-looking statements, including but not limited to: risks related

to the integration of acquisitions; actual results of current exploration

activities; conclusions of economic evaluations; changes in project

parameters as plans continue to be refined; future prices of gold;

possible variations in ore reserves, grade or recovery rates; failure of

plant, equipment or processes to operate as anticipated; accidents,

labour disputes; delays in obtaining governmental approvals or financing

or in the completion of development or construction activities and other

risks of the mining industry. Although Metanor has attempted to identify

important factors that could cause actual results to differ materially from

those contained in forward-looking statement, there may be other factors

that cause results not to be as anticipated, estimated or intended. There

can be no assurance that such statements will prove to be accurate, as

actual results and future events could differ materially from those

anticipated in such statements. Accordingly, readers should not place

undue reliance on forward-looking statements. Metanor does not

undertake to update any forward-looking statements that are included in

this document, except in accordance with applicable securities laws.

All amounts are in CND dollars, unless otherwise stated.

Forward-Looking

Statements

BachelorOnly permitted Mill in the Urban-Barry camp

Modern infrastructure in place

Significant growth potential at depth

Access to newly defined Moroy zone

330,000 oz produced

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A Gold Company with

MULTI-PROJECT GROWTH POTENTIAL

BarryHighly prospective land package in heart of Urban-Barry camp

Newly defined high grade shear zones open in all directions

Bulk sample program planned in Q3-Q4 2018

Portal preparation underway

Multiple drill targets to follow up in 2018

MoroyGeologically comparable to Bachelor mine

Currently being drilled and expanding resources at depth and along strike

Potential to intersect with Bachelor trend and have large dilated zones at depth

Exploration drift from Bachelor mine will intersect first ore in March 2018

TSX VENTURE LISTING TSX.V:MTO

Shares outstanding as of March 25,

2018101.8 M

Options 3.2 M

Warrants 26.2 M

Fully diluted 131.2 M

Market capitalization $66.2 M @ $0.65

Debt $0M

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Capital Structure

WEXFORD CAPITAL LP

Shares: 12.46%

Part Dil: 17.60%

KIRKLAND LAKE GOLD

Shares: 12.05%

Part Dil: 17.05%

E. SPROTT

Shares: 11.91%

Part Dil: 16.13%

Van Eck

Shares: ±6.29%

Part Dil: ±9.14%

LATEST NEWS

2018-01-19: Intersects 14.3 g/t Au over 4.6m at Barry and moves towards UG

bulk sample

2018-01-18: Moroy vein system extended by over 100m to depth with 7.00 g/t

Au over 3.9m

2017-12-28: Completes Placement of $11.4M

2017-11-15: Hits multiple gold-bearing shear zones at Barry; intercepted 14.5

g/t Au over 2m

2017-11-02: Intersects 41.6 g/t Au over 1.2m at Moroy veins system South of

Bachelor mine

2017-10-16: Extension of existing shear zone down to 400m to the East, 27.8

g/t Au over 3m at Barry

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Latest News

Excellent infrastructure, efficient and expandable mill

Stable political environment

Signed agreement with First Nation community

Within promising mining camp (Urban-Barry) adjacent to

Windfall project

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Bachelor and Barry

M I L L L O C A T I O N

B A C H E L O R

7,718HA 7,335HA

B A R R Y

Urban-BarryAn Emerging Camp

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BarryL O C A T I O N A N D P R O P E R T Y P A C K A G E Q 2 2 0 1 8

Barry UG ProjectD R I L L P R O G R A M S F O C U S E D O N

N E W S H E A R Z O N E S

BULK SAMPLE PROGRAM

Metanor will begin to drift into the gold

bearing shear zones in Q1 2018

50 000 tonnes of ore will be shipped to

Bachelor mill later in the year to reconcile

head grade to mine grade

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Barry Cross SectionO P E N A T D E P T H A N D A L O N G S T R I K E – S E C T I O N 8 0 0

Lithology Au g/t

HIGH GRADE SHEAR

ZONES

LOOKING 241 AZIMUTH

SOUTH-WEST

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Barry Open Pit and UGO P E N A T D E P T H A N D A L O N G S T R I K E W I T H N E W S H E A R Z O N E S

Q 2 2 0 1 8

Barry UndergroundC O N C E P T U A L S C H E M A T I C 3 D

Proposed Portal

Multiple High-Grade Shear Zones with newly

defined conjugate Tensional Veins

Proposed Ramp

Sublevel Access Along Strike of Shear Zones

Stope

Tensional Veins

connecting main vertical

shears/feeders

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Barry UG ProjectR A P I D A D V A N C E M E N T O F P R O J E C T S

Q12018Q42017

PERMITTING AND

CONSTRUCTION

Q22018 Q32018 Q42018

RAMP DEVELOPMENT

AND BULK SAMPLE

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BachelorGOLD MINE AND MILL

Q 2 2 0 1 8

Q 2 2 0 1 8BachelorL O C A T I O N A N D P R O P E R T Y P A C K A G E

Hwy

Production ongoing from Bachelor Mine

The development will reach the Moroy

structure in March

4 underground diamond drills are

exploring at depth at Bachelor and

Moroy

1 surface diamond drill explores the

Bachelor camp

BachelorL O N G S E C T I O N L O O K I N G N O R T H – S E C T I O N A - A ’

O’BRIEN

GRANITE

INTRUSIVE

PARALLEL VEIN SYSTEM ZONE

**CURRENTLY EXPLORING**

NEW GOLD ZONE 250 M

BELOW LOWEST LEVEL

A AI

PROPOSED

RAMP

- UNMINED DEFINED STOPES - MINED STOPES

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Bachelor and Moroy Section – Looking EastC U R R E N T U G D R I L L I N G W I T H S I G N I F I C A N T I N T E R C E P T S

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Moroy Long Section – Looking NorthP I E R C E P O I N T S O F C U R R E N T E X P L O R A T I O N D R I L L I N G A L O N G V E I N S E T S

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BachelorG O L D M I N E A N D M I L L

R E C O V E R Y

>96%A V A I L A B I L I T Y

>95%M I L L C A P A C I T Y

800TPD

C U R R E N T S H A F T D E P T H

700m

H O I S T I N G C A P A C I T Y

1,500TPD 1,200m

P O W E R A V A I L A B I L I T Y

>7MVA

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Bachelor Mill

E X P A N D A B L E T O

1,200TPD

F O R L E S S T H A N

$4M

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Bachelor Mill

The Only Mill in

the Heart of the

Urban-Barry Camp

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Exploration PotentialP L A N V I E W W I T H H I S T O R I C A L S H O W I N G S A N D T A R G E T S

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GREG GIBSONInterim Chairman and

CEO

Over 30 years in

mine operations

and management

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Proven Management TeamPASCAL HAMELINPresident and COO

Over 25 years in

mine management

ANIK GENDRONCorp. Secretary

& Legal Advisor

Over 20 years

in corporate &

legal affair

NORMAN PARKERGeneral Manager

of Operations

Over 30 years in mine

operations and management

CLAUDE GOBEILExploration Manager

Over 40 years in

exploration and

mine geology

JAMES N

FAIRBARNChief Financial Officer

Over 35 years

in accounting

Board of DirectorsGREG GIBSONChairman and CEO

Over 30 years in mine

operations and management

PASCAL

HAMELINPresident and COOOver 25 years in

mine management

RON PERRYDirector

Over 30 years of

accounting and finance

AKIBA LEISMANDirector

Executive Chairman of the Board and Interim CEO

of Marlin Gold Mining LTD

ROBERT BRYCEDirector

Over 40 years in corporate

and mine management

TRIS COFFINDirector

Over 45 years in business

management

MICHEL FONTAINEDirector

CEO of Albert Mining

TINA OUELLETTEDirector

Executive Vice President, Human Resources

of Kirkland Lake Gold

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Conclusions

Proven Assets

Experienced Team

Safe Political Jurisdiction

Low Technical Risk

Bachelor generates positive cash-flow

Large Land Position in Urban-Barry Camp

Definition of UG Barry Resource Underway

Exploration Expansion Ongoing at Bachelor,

Moroy, Moss, Barry, Bart and Coniagas

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Conclusions

2872, Sullivan Road, # 2

Val-d’Or, Québec, Canada

J9P 0B9 Canada

Tel: (819) 825 8678

Fax: (819) 825 8224

info@metanor.ca

www.metanor.ca

365, Bay Street, # 400

Toronto, Ontario, Canada

M5H 2V1

Tel: (416) 775 3591