River Valley PGM Project: Path to Development
March 2020
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River Valley Platinum Group Metal Project, located 100 Km from the Sudbury Metallurgical Complex in Sudbury, Ontario
Project Area and Access Nearby Infrastructure
Disclaimers
Safe Harbour StatementThis report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because suchstatements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2010 and beyondcould differ materially from the Company’s current expectations. Forward-looking statements are identified by words such as"anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicatetrends and future events.
Forward Looking StatementsCertain information presented, including discussions of future plans and operations, contains forward-looking statements involvingsubstantial known and unknown risks and uncertainties. These forward-looking statements are subject to risk and uncertainty, many ofwhich are beyond control of company management. These may include, but are not limited to the influence of general economicconditions, industry conditions, fluctuations of commodity prices and foreign exchange rate conditions, prices, rates, environmental risk,industry competition, availability of qualified staff and management, stock market volatility, timely and cost effective access to sufficientworking capital or financing from internal and external sources. Actual results, performance, or achievements may differ materially fromthose expressed or implied by these forward looking statements.
Qualified Person StatementThe information in this presentation that relates to Exploration Results or Mineral Resources is based on information compiled, reviewedor prepared by William Stone. Dr. Stone is a Qualified Person, as defined by National Instrument 43-101, and has reviewed and approvedthe technical content of this presentation.
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Harry Barr, Chairman & CEO
Appointed Director of NAM, in September 2015. A UK chartered mining
engineer, with over 30 years of international experience in developing,
financing, operating and managing Nickel, Copper, Gold and Coal mines.
Specific PGM knowledge, gained in South Africa, as CEO and non-
executive Chairman of Jubilee Platinum PLC.
Colin Bird, Director
NAM Directors and Management Team
Carey Galeschuk,
Lithium, Rare Metals
Specialist, Consulting
Geologist
Ron Hieber, Director
Mr. Hieber is an Internationally Recognized Expert, in Platinum Group
Metals, and was Head of Worldwide Exploration, for Anglo Platinum, the
world’s largest Platinum producer. He is a geology graduate of Rhodes
University, South Africa. PGM Specialist.
John Londry,
DirectorCody Hunt
Business Development
Charlotte Brown,
Corporate SecretaryRobert Guanzon,
Chief Financial Officer
Ali Hassanalizadeh, M.Sc,
PGeo, MBA
Gordon Chunnett, B.Sc.
PGM Specialist
Curt Freeman, M.Sc.
PGM Specialist Susan Mitchell, BA Ali Zamani, B.Sc.
Advisors
Founder, Chairman and CEO of International Metals Group, Mr.
Barr has over 30 years of experience in the mining industry, with
focus on acquisition, finance and development of mineral projects
on an international scale. As CEO, has guided his management
teams to complete more than 300 Option/Joint Venture
agreements with major, mid-tier, and junior mining companies.
Mike Neumann, Lead Director/River Valley Project Leader
Mr. Neumann has been Proprietor of Neumann Engineering and Mining Services, Inc.
since 1993. From 2003 to 2006, Mr. Neumann was Director and Chief Operating
Officer of Silver Eagle Mines Inc., (now Excellon Resources Inc.) a TSX listed Canadian-
based silver exploration and development company focused on acquiring, exploring
and developing high grade silver deposits among the silver mines in Mexico. Prior to
this Mr. Neumann’s experience includes positions of Chief Engineer at Campbell Red
Lake Mines and Underground Superintendent at Barrick’s Holt McDermott Mine.
Abitibi: Geophysical Contractors
Alan King: Geophysical Consultant
Todd McCracken:WSP Global
Richard Zemoroz: Geo/PGM Specialist
Aaron Warren,
Marketing Manager
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P&E Mining Consultants:Eugene Puritch
DRA Americas:Jim Kambossos
Dr. Bill Stone: PGM
Consultant
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• $1.7M in cash with no debt
• Market Cap as of February 2020 approximately $10 million
• Existing Share Structure as at February 5, 2020:
Share Issued & Outstanding: 137,347,766
Warrants Outstanding: 88,301,106
Options Outstanding: 5,883,331
Fully Diluted: 231,532,403
Financials and Share Structure
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River Valley Project Introduction & PGM Overview
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*Based on price deck in PEA Study (2019)
PGM Global Overview
• PGMs used as catalysts in internal combustion engines to reduce toxicemissions
• Also used in jewelry, medical instruments and high-quality glass
• 80% produced in Russia and South Africa; high-risk jurisdictions
• Recent acquisitions deals and metal price surges put spotlight on North American PGM opportunities
River Valley PGM Project
• Largest 100% owned undeveloped primary PGM project in North America; Pd main payable metal
• Approx. 100 road-km of world-class mining and mineral processing facilities in Sudbury
• Strong infrastructure support with road and rail links to Sudbury
• NI 43-101 Mineral Resource Estimation Q1 2019
• Preliminary Economic Assessment Q3 2019
• Project Exploration & Development plan
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Location & Infrastructure
• RVP located within 100 road-km
from the city of Sudbury in
Ontario, Canada
• Sudbury hosts a world-class
Ni-Cu (PGM) mining district and
major mineral processing and
metal recovery facilities
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Sudbury Warren
River Valley
River ValleyPGM Project
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Regional Geologic Setting
• Geological map showing that River Valley is the easternmost of the Paleoproterozoic East Bull Lake suite of intrusions
• River Valley is a large gabbro-norite-anorthosite intrusion in high grade metamorphic paragneisses of the Grenville Province
• Platinum Group Metal (PGM)-Copper sulphide deposit discovered 1999
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Property Geology & Mineralized Zones
• River Valley PGM deposit occurs on footwall
contact of the River Valley Intrusion
• Deposit strike-length of deposit = 16 km
• Moderately to steeply dipping to west or
southwest; locally overturned
• Deposit broken-up by cross-cutting faults into
many mineralized zones
• Covered by NAM Mining Leases and buffered
by Mining Claims
• Open to expansion by drilling at depth and in
footwall
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Legend
Nipissing
Huronian
River Valley Intr.
Grenville Gneiss
Symbols
Mining Lease
Faults
PGM Deposit
Geological map of River Valley property
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Contact-Type PGM Mineralization
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• Contact-type disseminated PGM-Cu sulphide mineralization occurs
mainly in the distinctive Breccia Unit in the basal marginal zone of
the intrusion
• Boundary Unit and Inclusion-Bearing Unit as less important hosts
• Exploration targets in the Layered Unit remain untested
Stratigraphic Column
chalcopyrite-pyrrhotite sulphide fragments in drill core
• PGM most closely associated with chalcopyrite
• Mineralization similar to Lac des Iles Mine deposit, NW Ontario
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Mineral Resource Estimate Results
Class Tonnes
‘,000
Pd (g/t) Pt (g/t) Rh
(g/t)
Au
(g/t)
Cu (%) Ni (%) Co (%) PdEq
(g/t)
Measured 56,096.7 0.54 0.20 0.013 0.03 0.06 0.02 0.006 0.94
Indicated 43,158.5 0.49 0.19 0.003 0.03 0.05 0.02 0.006 0.84
Meas +Ind 99,255.2 0.52 0.20 0.009 0.03 0.06 0.02 0.006 0.90
Inferred 52,306.0 0.31 0.15 0.012 0.04 0.04 0.02 0.001 0.63
Class] PGM + Au
(oz)
PdEq (oz) PtEq (oz)
Measured 1,394,136 1,700,957 1,700,957
Indicated 983,071 1,165,978 1,165,978
Meas +Ind 2,377,207 2,866,935 2,866,935
Inferred 840,851 1,059,473 1,059,473
Notes:
1. CIM definition standards were followed for the resource estimation.
2. The 2018 resource models used Ordinary Krig grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids.
3. A base cut-off grade of 0.35 g/t PdEq was used for reporting resources.
4. Palladium Equivalent (PdEq) calculated using (US$): $950/oz Pd, $950/oz Pt, $1,275/oz Au, $1500/oz Rh, $2.75/lb Cu, $5.25/lb Ni, $30/lb Co.
5. Numbers may not add exactly due to rounding.
6. Mineral Resources that are not mineral reserves do not have economic viability
7. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral
resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
NI43-101 Compliant Resources
Next Steps
• Increase the number and distribution of Rh assays for better grade determination
• Improve the definition and delineation of higher-grade domains within the PGM mineralized zones
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Mineral Resource Estimate basedon exploration database containing710 drill holes with 106,554 assaysrecords and 2,642 surface channelsamples.
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Higher Grade PGM Mineralization
Higher Grade Drill Hole Intercepts in the Northern Area of River Valley Deposit*
*Northern Area of the River Valley deposit includes the Pine Zone, Dana North Zone, Dana South Zone, Banshee Zone and Lismer North Zone
*Metallurgical holes demonstrating strong continuity of mineralization; The Dana North hole ended in strong mineralization **True widths approximately 65%-80% of intersection widths
• The higher grade mineralized intercepts reflectpresence of higher-grade PGM domains within theRiver Valley PGM deposit
• In addition, 1800 kg of material blasted fromoutcrops and trenches at Dana North and DanaSouth for metallurgical testwork in 1999 graded4.2 g/t Pd, 1.2 g/t Pt, 0.15 g/t Rh, 0.22 g/t Au and0.32% Cu
• The nature, distribution and controls on the highergrade domains is under investigation for futureresource estimation modelling
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Mineral Processing Plant Recovery Studies
PGM Head Grade (g/t) vs Recovery %: 1999-2013
PGM Head Grade (g/t) vs Conc Grade (g/t): 1999-2013
Phase 1 Metallurgy (SGS Canada Inc. 2013)
• Material: fresh drill core samples from Dana North and Dana South zones
• Primary & Regrind Sizes for Locked Cycle Test: P80=71 µm and P80=19 µm, respectively
• Bulk Concentrate Grades: 16% Cu, 2% Ni, 189 g/t PGM
• Metal Recoveries: 84% Cu, 22% Ni, 69% PGM
• Smelter Payable Metals: Pd, Pt, Au, Cu, Ni probable; Rh likely; Co, Ag possible.
• Deleterious Metals: NONE! (no talc)
• Conclusion: A sulphide concentrator could effectively process River Valley deposit material
Next Steps
• Improve recoveries to produce bulk concentrate with minimum grades of 18%-20% Cu
and 200-250 g/t Pd+Pt+Au (plus Rh, other minor PGMs, Co, Ag)
• Investigate effects of grade variability on metal recovery and concentrate grade
• Investigate split circuit configuration for Ni recovery
• Budget = $700,000 (includes drilling fresh core materials and Rh assays)
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TSX.V : NAM | OTCQB : NMTLF | FSE : P7JSummary of metal recovery test results 1999-2013
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Environmental baseline studies required for permitting the development and
mining of mineral resource projects.
2002-2004 Work• Devlin Environmental Consulting Services
• N.A.R. Environmental Consultants Inc.
• Plant ecology and surface water surveys
• Acid rock drainage study
• Results: No evidence of rare, threatened or vulnerable terrestrial species in the area.
• Limited potential for acid rock drainage
• Some environmental rehab work done on trails and trenches
2012 Study• DST Consulting Engineers
• Surface Water, Sediment and Benthics Study
• Baseline surface water and sediment sampling and analyzes
• Completed 2011
• Results: Heavy metal concentrations detected and attributed to atmospheric transport and
deposition from Sudbury area smelters
Environmental Studies
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River Valley PEA 2019Positive Preliminary Economic Assessment
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Next Steps• Exploration: drill off Pine Zone and test additional footwall targets
• Rhodium: include in assays and metallurgical studies
• Co, Ag, minor PGM: include in assays and metallurgical studies
• Mineral Resources: redo using improved domains
• Metallurgy: improve metal recoveries
• Geotechnical Data: collect data relevant to pit slope designs
RVP Program & Budget for 2020
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• Metallurgical Studies to improve PGMrecoveries; include rhodium, other minorPGM, cobalt and silver
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• Drill program designed to expand boundariesof the Pine Zone Discovery and generate Rhdata for future Mineral Resource Estimates
• Drill test additional footwall chargeabilityhighs to extent of 2017 IP geophysicalcoverage of the northern area
NAM anticipates targeting higher grade near-surface material in early stage of any potential mining operation
Phase 1: Q2 2020
Phase 2: Q2 2020
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Northern Area Focus
• Pine Zone-Dana Zones-Lismer North Zones area
• Highest grades
• Measured and Indicated resources dominate
• Mineralized Zones outcrop
• Accessible by road
• Recent (20150 Discovery in footwall (Pine Zone)
Geology map of the northern area of the River Valley PGM deposit. The Huronian, Grenville Gneiss and Nipissing excluded for illustration purposes.
Northern Area Focus
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Dana North Zone
Dana South Zone
Banshee Zone
Lismer North Zone
Pine Zone(covered)
open
Legend
Nipissing
Huronian
River Valley Intr.
Grenville Gneiss
Symbols
Mining Lease
Faults
PGM Zones
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Exploration Model
Sourced from River Valley Geophysical review by Geoscience North (Alan King, P. Geo., M.Sc.)
• In 2015, drill testing a chargeability high identified in previous IP
surveys led to discovery of the Pine Zone in the footwall to the
Dana North Zone
• 2017/2018 IP surveys identified many additional chargeability
highs in the footwall to the northern area of the River Valley
deposit.
• Those chargeability highs remain to be drill tested and
the Pine Zone remains open to expansion by drilling
• 5000m drill program planned to further expand the Pine
Zone and discover new footwall mineralized zones in the
Northern Area
• Remaining 12 km of the footwall contact south of the
northern area remains to be surveyed by IP
Plan View of IP Chargeability Targets in Northern Area
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Dana North Zone
Dana South Zone
Banshee Zone
Lismer Zone
Lismer North Zone
Structural Repeat of Pine Zone?
Pine Zone Discovery
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• Drilling priority IP chargeability high in
footwall to Dana North Zone led to
discovery of the Pine Zone in 2015
• 14 new chargeability targets identified in
2017-2018 IP geophysical surveys
• 12 of the targets remain untested
• 9 to be tested in 2020 exploration
• In addition, several conceptual targetswarrant drill testing:o Higher-grade trends from the Block Model
o Linkage of the Pine Zone and Dana North
Zone (modelled as a fold)
Plan View 3-D Model of Dana North Zone-Pine Zone Area
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IP drill target (3D)
Pine Zone as currently delineated in drilling is under 100-200 metres of cover
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Pine Zone Drill Plan
In 2015-17 seven drill holes at Pine Zone intersected Higher-Grade PGM mineralization:
• Hole 2015-DN002 intersected 9m grading 3.909 g/t Pd+Pt, 0.121 g/t Au, 0.264% Cu from 145m downhole
• Hole 2015-DN002 intersected 6m grading 4.23 g/t Pd+Pt+Au
• Hole 2015-DN001 intersected 16m grading 2.054 g/t Pd+Pt, 0.091 g/t Au, 0.179% Cu from 184mdownhole
• Hole 2015-DN001 intersected 4m grading 5.12 g/t Pd+Pt+Au
• Hole 2016-DN-T2-06 intersected 9m grading 4.065 g/t Pd+Pt, 0.176 g/t Au, 0.280% Cu from 178m downhole
• Hole 2016-DN-T2-06 intersected 6m grading 5.29 g/t Pd+Pt+Au
• Hole 2016-DN-T2-10 intersected 4m grading 3.15 g/t Pd+Pt, 0.071 g/t Au, 0.190% Cu from 202m downhole
• Hole 2017-T3-17-04 intersected 3m grading 7.12 g/t Pd+Pt+Au
• Hole 2017-PZ-17-08 intersected 14m grading 2.01 g/t Pd+Pt+Au
(True widths appear to be on average approximately 80% of intersection widths)
Pine Zone open to expansion by drilling down-dip towards Target T3 and east along strike
Oblique View Looking NW at 3D Model of Dana North-Pine Zones
Pine Zone discovery demonstrates that the exploration model of IP surveys followed by diamond drilling works!
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IP drill target
surface
30
0m
open
open
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Strategic Blue Sky Upside
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Current
Resource
Conceptual Resource
Potential
(A Sudbury example)
100
years
20
years
New Age Metals
RVP Deep Drilling Potential
• Lac des Iles Mine shipping PGM
concentrate 800 km to Sudbury
for >20 years
• Sudbury mines producing PGMs
as by-products of Ni-Cu mining
for >60 years
• The average maximum drilling
depth at River Valley is only
220m below surface; deepest
hole (DS001) ended in PGM
mineralization at about 575m
depth below Dana South
• Drilling more such holes could
open up the underground
potential of the River Valley
PGM Project
Strategic Blue-Sky Upside Continued
River ValleyIntrusion
• The River Valley regional gravity high the most prominent gravity feature in the greater Sudbury region
• Underlies the River Valley Intrusion
• Suggests deep ultramafic magmatic feeder system beneath River Valley
• Possible nickel sulphide target
• Depth to be investigated in 2020
• Drill testing likely requires Strategic Partner
Ground Gravity 1VD Image, Sudbury Basin, River Valley Intrusion
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River Valley Intrusion
River Valley PGM Project Summary
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Reasons To Invest
• Largest 100% owned undeveloped primary PGM deposit in North America
• Pd main payable metal
• Rh present too and likely recoverable (other minor PGMs, Co and Ag under investigation)
• Superb infrastructure setting with road and rail links to Sudbury infrastructure
• Huge blue-sky exploration upside
• Super-safe jurisdiction
• Recent acquisitions of Stillwater Mining and North American Palladium Ltd. by Sibanye and
Impala, respectively, plus surging spot metal prices (Pd >$2000/oz, Rh >$5000/oz,
Au >1600/oz) highlight the PGM potential of North America
Payable metals for River Valley based on price deck in PEA Study (2019)
Pd Annual Supply Deficits
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Thank You for Your Time and Consideration
New Age Metals
59 Burtch’s Lane
Rockport Ontario K0E 1V0
T: 613-659-2773
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River Valley Project Site Tour - 2018