Specialty fertilizers & plant nutrition for a changing world

Corporate Presentation

Q1 2016 TSXV: CPM

Forward-Looking Information

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This presentation is for informational purposes & does not constitute an offer or a solicitation of an offer to purchase securities. This presentation contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements related to activities, events or developments that Crystal Peak Minerals Inc. (“CPM” or the “Company”) expects or anticipates will or may occur in the future, including, without limitation; statements related to the economic analysis of the Project; the Feasibility Study; mineral resource estimate; the permitting process; environmental assessments; business strategy; objectives & goals; & exploration of the Sevier Playa Project. Forward-looking information is often identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation of such words & phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is based on a number of factors & assumptions made by management & considered reasonable at the time such information is provided. Forward-looking information involves known & unknown risks, uncertainties & other factors that may cause the actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking information. The Company’s Preliminary Feasibility Study (the “PFS”) is, by definition, preliminary in nature & should be considered speculative. It is based upon a process flow sheet that may change, which would impact all costs & estimates. Operating Costs for the Project were based upon assumptions including future energy costs, natural gas costs, water costs, labor, & other variables that are likely to change. Capital Costs were based upon a list of equipment thought to be necessary for production. SOP price forecasts were based upon third-party estimates & management assumptions that may change due to market dynamics. The mineral resource estimates were based upon assumptions outlined in the “Resource Estimate” section. Some figures were calculated using a factor to convert short tons to metric tonnes. Changes in estimated costs to acquire, construct, install, or operate the equipment, or changes in projected pricing, may adversely impact project economics. Among other factors, the Company’s inability to complete further mineral resource & mineral reserve estimates; the inability to complete a Feasibility Study; the inability to obtain sufficient recharge; the inability to anticipate changes in brine volume or grade due to recharge or other factors; changes to the economic analysis; the failure to obtain necessary permits to explore & develop the Sevier Playa Project; environmental issues or delays; inability to successfully complete additional drilling at the Sevier Playa Project; factors disclosed in the Company's current Management's Discussion & Analysis; as well as information contained in other public disclosure documents available on SEDAR at www.sedar.com may adversely impact the Project. The information presented herein was approved by management of the Company on June 30, 2015. Although CPM has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in the forward-looking information, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. There can be no assurance that forward-looking information will prove to be accurate. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding the Company's plan, objectives, & goals & may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. CPM does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This Investor Presentation should be read in conjunction with the Company’s technical report titled “NI 43-101 Technical Report Preliminary Feasibility Study of the Sevier Lake Playa sulfate of Potash Project, Millard County, Utah,” filed on November 18, 2013 with an effective date of October 25, 2013 (“PFS”), available at the company’s website &its SEDAR profile at www.sedar.com. Qualified Persons for that report include: • Michael Blois, MBL Pr. Eng., is the Qualified Person in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) who has reviewed, &is

responsible for, the mineral processing &metallurgical testing, recovery methods, infrastructure, capital cost, &operating cost estimates described in this MD&A &has approved it. Mr. Blois is an independent consultant contracted by the Company.

• Lawrence D. Henchel, P. Geo., Vice President Geological Services with Norwest Corporation, is the Qualified Person in accordance with NI 43-101 who has reviewed the resource estimate in this MD&A &has approved it. Mr. Henchel is an independent consultant contracted by the Company.

• Michael Hardy, P. Eng., President with Agapito Associates, Inc., is the Qualified Person in accordance with NI 43-101 who has reviewed the mining methods described in this MD&A &has approved it. Mr. Hardy is an independent consultant contracted by the Company.

• Scott Effner, P.G., Principal Geochemist/Hydrogeologist with Whetstone Associates, is the Qualified Person in accordance with NI 43-101 who has reviewed the hydrogeological modeling content in this MD&A &has approved it. Mr. Effner is an independent consultant contracted by the Company.

• David Waite, P.E., Senior Engineer with CH2M HILL is the Qualified Person in accordance with NI 43-101 who has reviewed the environmental &permitting content of this MD&A &has approved it. Mr. Waite is an independent consultant contracted by the Company.

CPM Highlights – Premium Specialty Fertilizer • Potassium sulfate (SOP) premium priced specialty fertilizer with growing demand &

strong pricing • Project located in the US, adjacent to the highest price point in the SOP market

• Accessible rail infrastructure with direct routes to market

• CPM’s brine production & sustainable solar evaporation SOP processing facilitate

the lowest quartile CapEx and OpEx

• CPM intends to be one of the highest margin SOP operation globally

• Advanced Stage Project – Bankable Feasibility Study (BFS) due in 2016

• C$85 million equity financing commitment from EMR Capital Resources (EMR)

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• Potassium sulfate (K2SO4 or “SOP”) – Used in fertilizers, providing both

potassium & sulfur – SOP does not contain chloride like

potassium chloride (“KCl”) produced as muriate of potash (“MOP”), most widely used potassium based fertilizer

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SOP – Premium Fertilizer for Today’s World

• Increased crop yields: – Stimulates growth – Improved disease & drought resistance with

thicker outer cell walls – Improves color, flavor & storing quality of

fruit & vegetables • SOP must be used for sensitive high value crops,

including nuts, fruits & vegetables as chloride from MOP can be harmful

• Saline and arid soils require additional sulfate nutrients

• Less sensitive crops may still require SOP for optimal growth if soil accumulates chloride from irrigation water

• Subsurface irrigation – SOP is soluble & can be delivered directly to plants with subsurface water delivery

What is SOP? Why Use SOP?

Types of SOP Production • Brine Processing: turns natural potassium-rich

brines into SOP, using low-cost solar evaporation. Lowest costs in industry

• KCl + sulfate Salts: Converts potassium bearing minerals to SOP with the addition of sulfate salts

• Mannheim Process: Converts MOP to SOP using a sulphuric acid & high temperature energy intensive process. Highest costs in Industry

Brine Production

Reacted Salts Production

Mannheim Production

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0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000

Ope

ratin

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SD/t

)

Annual production

• Increasing populations + declining arable land + changing diets = need for higher crop yields

• Growing more sensitive crops as consumption patterns change

• Research driving increased SOP consumption for new markets such as potatoes

• Global warming & drought in major growing regions require the use of more SOP

5 CPM PFS OPEX $181/t

SOP – Increasing Pricing & Support Levels

• Brine processing: – Key producers: Compass Minerals & SQM

• KCl + sulfate salts: – Key producers: K+S, Rusal

• Mannheim process: – Key producers: Tessenderlo Group,

Chinese

Price Growth

Price Support Industry Cost Curve

Compass Minerals SOP Sales Price

500

550

600

650

700

750

800

850

2010 2011 2012 2013 2014 2015

($/m

t)

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Sevier Lake Project Primary Demand

Mid Tier Demand

• Global potassium fertilizer market: 64 million tonne per annum

• Global SOP market: 6 million tonne per annum • SOP CAGR: 4-6% through 2020 • Additional expected growth as certain MOP

usage areas transfer to SOP

SOP – Market Size MOP

55mtpa

SOP 6mtpa

NOP 1.4mtpa

SOPM 1.4mtpa

Potassium Fertilizer Market

US Market

• Current U.S. Market: 550,000 to 600,000 tonne per annum

• California: Approximately 1/3 of the U.S. Market - Production of high value sensitive crops, such

as almonds, and - Continuing water shortages

• Growth: Potential up to approx. 970,000 tonne per annum over the next 5 years

Source: Parthenon Study

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Sevier Playa Project Overview

Location Central Utah

Size Approximately 124,200 acres

Product SOP (Potassium sulfate)

Resource: (K2SO4)

M&I: 31.486 million tonne

Inferred: 2.560 million tonne

Over 30 years supply @ 300,000 tonne per annum

Deposit Type: Terminal lake salt brine

Process: Solar evaporation

Stage: BFS underway to be completed in H2 2016

1980’s Development:

Evaporation ponds & brine collection trench built. Salt & magnesium chloride brine were produced in 1989 & 1990 & test ponds operated to produce potash salts

Sevier Playa at a Glance

Sevier Playa

• Utah, United States

– Mining friendly state with trained local workforce

– Well documented permitting process with many key permits, such as water, already in place

– CPM applying for state support, especially tax rebate

• Proven potassium fertilizer producing basin – Compass Minerals (SOP) & Intrepid

Minerals (MOP)

• Region is proven evaporation environment – Compass Minerals’ producing SOP

operation using brine extraction & evaporation

• Rail line direct access to California, the main U.S. growing regions & ports on both Atlantic & Pacific coasts

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Sevier Playa – Project Location

Intrepid Potash (MOP)

Compass Minerals (SOP)

Intrepid Potash (MOP)

Approximate Outline of Ancient Lake Bonneville

CRYSTAL PEAK MINERALS

Sevier Playa

SALT LAKE CITY

Utah

• Access by rail to U.S. core markets – Less than 500 miles to largest

U.S. SOP market: California – Ease of access to extensive U.S.

wide rail network • Access by rail & port to international

markets – East & west coast ocean ports

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Sevier Lake Project Integrated Rail Line Port Access to Pacific / Atlantic

Sevier Playa – Project Location

Integrated U.S. Rail System

Excellent Local Infrastructure

• Local infrastructure: – Road to proposed plant site – 15 miles to rail line – 35 miles to natural gas pipeline – 52 miles to power substation

Union Pacific Railroad

Freeway

Legend:

Luma Leases

CPM Leases

Proposed Plant

Proposed Rail Loadout

Town of Delta

Access Road

Powerline

Gas Pipeline

N

647 432 360 338 246

90

-181 -396

-180 -198 -290 -450

828 828

540 536 536 540

-600

-400

-200

-

200

400

600

800

1,000Crystal Peak Compass SDIC Luobupo SQM K+S Mannheim ProducersUSD/t

Margin Opex Price Received

• CPM intends to be one of the highest margin SOP operation globally • Combination of factors:

– Lowest quartile OpEx – Proximity to highest price point in the SOP market – Infrastructure access

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Highest Margin SOP Producer

Source: Pareto Securities (Assuming CPM achieve Compass current price level)

• Project debt: – Expected to be in the region of

65% project finance

• Construction equity commitment from EMR: - Larger of $60m or 1/3 of project

equity

• Investigating alternatives sources of financing: - Off-take - Infrastructure, sale & lease back - Equipment leasing

• CapEx: - PFS estimates: $378 million - 300,000mt per annum operation

for 30 year mine life - Low level of infrastructure

investment required

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CapEx & Financing

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400

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800

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1200

Development Asset CapEx

CapEx Achievable Financing

USDm

Source: Company Presentations

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Production Metrics

Production Rate

2018 2019 2020 (Nameplate)

50,000 tpy

100,000 tpy 300,000 tpy

Mine Life 30 years

Project Economics

SOP Price (2020) $721/t

EBITDA at Nameplate Production $143 million

Pre-tax NPV (8% Discount)

Pre-tax IRR $957 million

24%

After-tax NPV (8% Discount) After-tax IRR

$629 million 20%

Payback 5.5 years

Effective Tax Rate 29%

Production Royalty 5.61%

Sevier Playa Project – Robust PFS Complete

Operating Cost Estimates

Unit Operating Costs: Labor Power Natural Gas Reagents, Consumables & Maint Salt Harvest & Haul to Rail G&A

$ 34.76/t $ 13.97/t $ 37.57/t $ 40.34/t $ 37.57/t $ 16.70/t

Total Cash Costs $180.91/t

Capital Cost Estimates

Capital Costs: Playa Infrastructure Plant Facilities Utility Infrastructure Rail

$ 49 million

$ 167 million $45 million

$ 31 million

Direct Costs $292 million

Indirect Costs Contingency

$ 50 million $ 36 million

Total Capital Costs $378 million

Sustaining Capital Costs (LoM) $199 million

Source: CPM PFS (Nov 2013)

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Sevier Playa Project – Resource Estimate Estimated Mineral Equivalent Compounds from Brine Resource

Resource

Classification

(Million tonne)

SOP Bitterns Salt Cake Halite

K2SO4 MgCl2 MgSO4 Na2SO4 NaCl

Measured 11.344 12.464 15.746 34.432 243.666

Indicated 20.142 22.641 28.604 61.335 416.176

Measured + Indicated 31.486 35.104 44.350 95.768 659.841

Inferred 2.560 3.111 3.931 8.051 51.113

• Mineral resource estimate is delineated from surface to 30 meters below surface

• Additional upside as mineralization continues to depth

• PFS economics exclude revenue from additional essential minerals

Source: CPM PFS (Nov 2013)

Ancillary Minerals Usage

Salt Snow melt, industrial

Magnesium chloride Dust control, snow melt, erosion control, fertilizer

Magnesium sulfate Fertilizer, industrial, medical

Lithium Batteries, ceramics

Boron Fertilizer, water treatment

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Potential Additional Revenue Streams

Peer Comparables

Potential Additional Revenue Streams

Company Additional Revenue Streams Comment

Compass Minerals Salt Magnesium chloride

1.4 million tonnes per annum 0.7 million tonnes per annum

SQM Lithium Potassium and sodium potassium nitrate

40,000 tonnes per annum 0.5 million tonnes per annum

Source: Compass Minerals; SQM

BFS – Opportunity for CapEx & OpEx optimization • Optimization opportunity of items including:

– CapEx – accelerating time to market – CapEx – scalability – CapEx – capital deployment – OpEx – environmental sustainability – OpEx – state tax support – OpEx – additional minerals revenue

• BFS scheduled for completion in Q4 2016

• BFS catalyst for final submission of EIS permitting process documents

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Optimizations for BFS

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CPM – Key Milestones & Catalysts

EIS – Environmental Impact Study NTP – Notice to Proceed ROW – Right of Way Grants PSD – Prevention of Serious Deterioration

Year CompletedQuarter Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Engineering SchedulePre-Feasibility Study

Field Work and Trench ProgramField Test Results

Bankable Feasibility StudyDetailled Engineering

Financing ScheduleEMR - Warrant Exercise

Project Financing

Permiting ScheduleUS Army Corps of Engineers

Water Rights and Appropriations Air Approval Order (On Playa)

EIS Drafting & SubmissionBLM Mining Plan/ DOGM Large Mine Permit

Plan of Development (POD)Record of Decision (ROD) Granted

PSD, Construction and Operating Permits

Construction SchedulePond Construction/Initial Brine Pumping

Process Plant Construction SOP Production

Preparation Evaporation Season

2016 2017 2018 2019 2020 2021

Initial Production

ROD & NTP Granted

Feasibility Study

020406080

100120140160180

EBITDA Progression

02468

1012141618

Peer EV/EBITDA

SQM CMP

• Project NPV : $629 million

• Full production for CPM would give an EBITDA of $143 million

• CapEx to reach full production of $378 million

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Future Valuation

• Compass Minerals, the most direct U.S. producing peer, trades at a 9.4x multiple

• Recent industry acquisitions at 9.9x to 11.9x EBITDA

Peer Group Valuations

Future Cashflow USDm

Source: Bloomberg

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Leadership Management

Lance D’Ambrosio –CEO & Executive Board Chairman • 25+ years experience in financing, building, &

operating start-up projects • Named E&Y Entrepreneur of the Year in 2002 Thomas Pladsen – CFO & Director • Finance executive with 35+ years of experience • Former CFO of a number of public start-up

companies Dean Pekeski – VP Project Development • 20+ years as project manager • Managed development of Milestone Potash Project

in Saskatchewan for Western Potash Woods Silleroy – VP Operations • 25+ of operations & natural resource investing

experience • Former VP & COO of Justice Design Group Leanne Diamond – Environmental Manager • Over 30+ years of western U.S. based technical and

compliance experience • Former project manager for Kleinfelder

De Lyle Bloomquist – Lead Independent Director • Former President of Global Chemicals Business at

Tata Chemicals • Former CEO of General Chemical Industrial Products Dan Basse – Director • President of AgResource Company with 40+ years of

experience in commodity based industries Donald Carroll – Director – EMR representative • Senior executive with BHP Billiton for 30+ years in

BHP Japan, BHP India, & BHP Marketing Asia Rob Curtis – Director – EMR representative • Geologist with 19+ years experience executing

investments in Sandfire, IMX, Toro Energy, & others Ramakrishnan Mukundan – Director – Tata

representative • Managing Director of Tata Chemicals Limited Ted Botts – Director • Former executive at UBS Group & Goldman Sachs &

President of Kensington Gate Capital

Board of Directors

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Management and Directors

11%

Tata Chemicals

19%

Knox Capital 8%

Float 39%

EMR Capital 23%

Financial Overview Share Ownership CPM

Ticker – Canada: TSXV: CPM

Ticker – U.S.: OTCQX: CPMMF

Price (approximately): $0.20/share

Shares outstanding 149 million

Capitalization (approximately) $30 million

EMR Investment

Initial commitment: (June 2015) C$10 million at C$0.30/share

Follow on commitment: (expected March 2016) C$15 million at C$0.42/share

Future investment: (at point of construction decision): C$60 million or up to 1/3 of project equity

Valuation methodology: “Stair step” investment based on project value & achieving milestones

EMR Investment • EMR commitment of not less than C$85 million or one-third of project equity in three tranches • Specialist resources private equity manager with deep linkages to Asian markets - in particular, commodity purchasers & end users, resources companies, investors, & governments • Focused on four commodities: potassium fertilizer, gold, copper, &

metallurgical coal • Target Investments in projects with:

– a compelling resource opportunity, – bottom quartile CapEx & OpEx, – a stable jurisdiction & proximity to existing infrastructure, and – a location where target markets already exist & where major operators

reside who might pursue future M&A

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Environmental Relevance Process and products with positive impacts on our environment’s most precious resources: Air, Water, Land Environmentally responsible production process harvests the power of the sun • Solar evaporation provides CPM with low-carbon footprint production

process

• Solar ponds allow CPM to harness the sun’s solar energy for its’ production process

• Most of CPM’s energy needs will come from a renewable source

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Sustainability Products suited for today’s challenging and changing environment • SOP is low in chlorides which is preferred in a world facing water scarcity

• SOP can be soluble so it can be used in drip irrigation and fertigation saving

valuable fresh water resources

• SOP reduces the toxic effects of chloride build up in soils, especially in dry conditions, that can occur with the use of standard MOP

• SOP is the best fertilizer to use on most fruits, vegetables and nut trees as consumers rotate to a healthier diet

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Government and Local Support Broad support from state, county, and local officials • Jobs • Tax Revenue • Tax Credit Bill Approved

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Federal Government BLM assistance on permitting through regular meeting and direct dialogue

State Government Support from Senate Bill 216 “Utah High Cost Infrastructure Development Tax Credits” – up to 50% of $150 million CapEx in post performance tax credits

County Government Significant support from Millard County Commission and Director of Economic Development. Millard County to maintain 15-mile road to project

Local Community Engagement with local community and stakeholders has helped cultivate support for the Project

Preliminary Feasibility Study economics show great benefit to State of Utah

Contact Details

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Crystal Peak Minerals Inc. 2180 South 1300 East

Suite 200 Salt Lake City, UT 84106

Phone: 801-485-0223

e-mail: info@crystalpeakminerals.com www.crystalpeakminerals.com