Kerr Mines | TSX: KER I April 2017

INVESTOR PRESENTATION

FORWARD-LOOKING STATEMENTSThis presentation contains forward-looking information, including statements regarding: the proposed timing, schedule, and costs for restarting production at theCopperstone Mine, rate of production, expected cash costs, expected increase in milling capacity, exploration potential at the Copperstone Mine, proposed debtrestructuring and financing, share capitalization and director ownership,. These forward-looking statements entail various risks and uncertainties that could causeactual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to anumber of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but arenot limited to, the strength of the economy; the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource and mineral reserveestimates are reflective of actual mineral resources and mineral reserves; and the degree to which factors which would make a mineral deposit commercially viableare present; assumptions with respect to the cost and availability of labour for the restart of operations are correct,; results of exploration and validity of geologicalmodels; the risks and hazards associated with underground operations, and any specific risks or assumptions set out or referenced in this presentation. Risks anduncertainties about Kerr Mines Inc. and its business are more fully discussed in its disclosure materials, including the annual information form, technical reports,financial statements and MD&As, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read thesematerials. Kerr Mines Inc. assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from suchstatements unless required by law.

This presentation includes certain non-IFRS measures, including cash costs on a per gold ounce basis. Cash costs per gold ounce are defined as costs ofproduction (including refining costs) divided by the total number of gold equivalent ounces produced. The Company reports total cash costs on a production basis.In the gold mining industry, these are common performance measures but do not have any standardized meaning, and are non-GAAP measures. As such, they areunlikely to be comparable to similar measures presented by other issuers. In reporting cash costs per gold ounce, the Company follows the recommendations of theGold Institute standard. The Company believes that, in addition to conventional measures, prepared in accordance with IFRS, certain investors use this informationto evaluate the Company’s performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be consideredin isolation or as a substitute for measures of performance prepared in accordance with IFRS.

Technical information in this presentation has been reviewed and approved by Dale Ginn P. Geo., who is a qualified person that is independent of the Company, asdefined in National Instrument 43-101.

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KERR INVESTMENT HIGHLIGHTS• Past producer, fully permitted• Advanced-stage development Company• Existing resource with significant exploration upside• Safe, mine-friendly jurisdiction• Strengthened Board and Management team• Restructured debt into friendly hands• Supportive shareholder group• On track to complete Pre Feasibility Study in Q4 2017

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Advancing strategy to unlock shareholder value

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Unlocking shareholder value:Focused on maximizing Copperstone’s potential

Define and expand current resources Strengthen economics leading to a production decision

KERR’S TWO-PRONGED STRATEGY

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Multiple opportunities for value creation

Existing resource open on strike and down dip

Large under-explored land package

New targets identified near surface

Targets in close proximity to existing resource

UPSIDE POTENTIAL

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SOUTH TARGET

Underground Opportunity• Open on strike down dip• Open undefined gap zones• 5-10k meter program• Improve economics of production

restart

TACTICAL IMPLEMENTATION

Significant upside potential

Surface Exploration Opportunity• 3 key strategic targets• South zone• Lower parallel plate• Southwest target

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UNDERGROUND OPPORTUNITY

A

~1,500ft

• Plan to develop access to A,B, C zones• New zones provide flexibility and mine optimization• Numerous working faces• Supports strengthened economics

BC

D

~4,100ft

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SURFACE EXPLORATION - SOUTH ZONE HIGH GRADE

SOUTH TARGETInferred

Resource*:132,000 ounces at 12g/t grade

• Previous successful drilling• Intercepts of ¼ - 1 oz over 2- 4

meters• 10k meter drill programme• Detachment fault region

Bringing Copperstone to full potential

* Source: ‘NI 43-101 Technical Feasibility Report Copperstone Project, La Paz County, Arizona’ dated 01/10/11, independently prepared by Dr. C. Anderson, T. Buchholz, C. Pratt, J. Brown, in accordance with the guidelines of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects

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SURFACE EXPLORATION – LOWER PARALLEL PLATE

Parallel fault system

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SURFACE EXPLORATION – SOUTHWEST TARGET

SW Target

Resource and model updates

2017 COPPERSTONE PROJECT PLANS

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Value creation catalysts leading to production decision

Exploration and resource definition programs

De-watering & mine re-

habilitation

Prepare PFSMine plan optimization

COPPERSTONE’S HIGHLIGHTS

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Historically produced ~500,000 ounces of gold

Past-producing high grade gold project

11,800ac land package

Fully-permitted with extensive infrastructure

Upside exploration potential

EXISTING INFRASTRUCTURE• Underground mine development in place, access and utilities• Processing facility and 450 tpd mill• Tailings storage facility with capacity for planned re-start • Power and water distribution systems• Surface buildings including assay lab• Roads and access to surface exploration sites

Accelerates production re-start timeline and reduces CAPEX

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HISTORIC GOLD PRODUCING REGION

Arizona Ranked 7th best jurisdiction globally for mining investments

HISTORICAL REVIEW & RECENT PROGRESS• Acquired project in 2014• Care & Maintenance period• Restructured balance sheet

• Settled with creditors• Injected working capital• Divested non-core assets

• Dewatered & rehabilitated underground workings• Prepared preliminary resource model• Drill programs being defined• Appointed new Board members• Appointed CEO & President

THE NEW KERR 15

Dedicated, Prudent, Methodical

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Strengthened technical and financial expertise

MANAGEMENT & BOARD OF DIRECTORSFahad Al Tamimi, Chairman

Saudi-based businessman with global investments in mining and real estate

Peter Damouni, Director

Investment banking. Led financings valued at more than $5 billion

Ayman Arekat, Director

Investment banking with Chase Manhattan, Merrill Lynch, Deutsche Bank

James McVicarDirector

Legal specialization in financings, mergers and acquisitions, corporate governance and commercial matters. Director of Monarca Minerals.

Greg Smith Director

President of Oakridge Financial, Director of TriWestern Energy, Falcon Oil & Gas

Claudio Ciavarella CEO & Director

CPA, 25 years private business owner. President of Forte Fixtures & Millwork. CFO of The Aqua Tech Group

Martin KostuikPresident & Director

25 years diversified mining experience. Previously Sr. VP Operations & Development at Luna Gold, and President, CEO & Director of Rupert Resources Limited

Chris HopkinsCFO

25 years experience in resource industry. Previously US Silver, Rio Algom, BHP Billiton, and Suncor

Patrick Downey Technical Advisor

+30 years of international experience in the resource industry. Previously CEO of Elgin Mining Inc.

CAPITAL STRUCTURETicker Symbol TSX: Ker I US: KER I FSE: 7AZ1

Shares Outstanding ~190.9 million

Director/Insider ownership ~47%

52 week range $0.05 - $0.23

Recent price* $0.19

Market Cap $36.3 million

Cash & short term investments (12/31/16) $2.1 million

Debt 3 year term at 8% interest, interest waived in first yearFriendly debt held by Fahad Al Tamimi and Claudio Ciavarella:

$9.5 million

Major Shareholders Fahad Al Tamimi 24%Claudio Ciavarella 13%Eric Sprott 9.4%

17* Figures denominated in Canadian dollars

PEER GROUP

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Figures denominated in Canadian dollars as at April 21, 2017Kirkland Lake Gold WebsiteKlondex Mines Corporate Presentation April 11 & 12 2017

Richmont Mines Corporate Presentation March 2017Wesdome Corporate Presentation March 2017Argonaut Gold WebsiteSabina Gold & Silver Corp Corporate Presentation March 2017

Mandalay Resources Corporate Presentation March 2017Primero Mining Corporate Presentation March 2017Pure Gold Corporate Presentation March 2017

* Source: ‘NI 43-101 Technical Feasibility Report Copperstone Project, La Paz County, Arizona’ dated 01/10/11, independently prepared by Dr. C. Anderson, T. Buchholz, C. Pratt, J. Brown, in accordance with the guidelines of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects

Company Stage SharePrice 52weekrange MCAP(millions)

Productionestimates(AuEq koz)

KirklandLakeGold Production $9.86 6.13- 11.15 2,035 525

Klondex Mines Production $4.77 4.07- 7.95 845 210-225

Richmont Mines Production $10.27 7.36- 15.01 649 106-122

Wesdome Production $3.61 1.47- 4.40 471 52-58

ArgonautGold Production $2.34 1.48- 4.45 414 115-130

SabinaGold&SilverCorp Development $1.72 0.84- 1.87 384 PEAaveest198

MandalayResources Production $0.57 0.56- 1.35 257 138-163

PrimeroMining Production $0.75 0.70- 3.42 142 176

PureGold Development $0.56 0.39- 0.77 105 PEAaveest52-58

KerrMines Development $0.19 0.05- 0.23 36 40-50

CONTACT INFORMATION

CLAUDIO CIAVARELLAChief Executive OfficerE: cciavarella@kerrmines.com

info@kerrmines.comkerrmines.com

FIONA GRANT LEYDIERInvestor RelationsT: 416.848.9851E: fgrantleydier@national.ca

APPENDIX

HISTORIC – RESOURCE ESTIMATES*Category Tonnes Grade (g/t Gold) Contained Ounces

Measured 934,000 10.4 311,000

Indicated 8,000 7.9 2,000

M&I 942,000 10.3 313,000

Inferred (South Zone) 335,000 12.2 132,000

Category Tonnes Grade (g/t Gold) Contained Ounces

Proven 904,000 8.8 255,000

Proven 6,000 6.3 1,000

Proven & Probable 910,000 8.8 256,000

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* Source: ‘NI 43-101 Technical Feasibility Report Copperstone Project, La Paz County, Arizona’ dated 01/10/11, independently prepared by Dr. C. Anderson, T. Buchholz, C. Pratt, J. Brown, in accordance with the guidelines of Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects

COPPERSTONE GEOLOGY OVERVIEW

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KERR’S NON-CORE ASSETS

THE NEW KERR 23

McGarry Property

31 patented mining claims, 3 unpatented claims and mining licenses totaling 1,112 acres in north-eastern Ontario

Company has an agreement to cancel future advance royalty obligations.

Potential to monetize the assets