Developing two of the world’s most critical metals:

Niobium & Tantalum

June 2015

Forward Looking Statements

This presentation contains certain “forward-looking statements”, including, but not limited to, the statements regarding the Company’s strategic plans, its anticipated benefits and the use of proceeds resulting thereof, in particular, future financial results, production targets and timetables, the evolution of mineral reserves and resources, mine operating costs, capital expenditures, work programs, development plans, exploration programs, objectives and budgets, the possible determination of additional reserves, and the Company's eventual success to execute its strategy to focus on building its portfolio of properties. Forward looking statements express, at this date, the Company’s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of metals, mining industry risks, exploration risks, risks associated with foreign operations, environmental risks and hazards, uncertainty as to calculation of mineral reserves, requirement of additional financing or additional permits, authorizations or licenses, risks of delays in construction and production and other risks referred to in the Company’s Annual Information Form.

Claude Dufresne, engineer, acted as the qualified person as defined in National Instrument 43-101. He reviewed and approved the technical and scientific content of this presentation.

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Board of Directors

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Claude Dufresne – President & CEO Mr. Dufresne is recognized worldwide for its expertise in the niobium market. He was responsible for the sales and marketing of ferro-niobium produced by the Niobec mine from 2001 to 2012. He also founded Camet Metallurgy Inc. in 2007, a sales and marketing company involved in various mining project development and raw material sourcing for the steel industry.

Serge Savard – Chairman of the Board Former NHL star, he played in eight winning Stanley Cup with the Montreal Canadiens and was inducted into the Hockey Hall of Fame in 1986. Son of one of the co-founders MDN Inc., Mr. Savard has been a Partner in Thibault, Messier, Savard & Associates since 1993 and is also involved in numerous fundraisers.

Jean-Sébastien David – Director Mr. David is currently CEO of Arianne Phosphate Inc. a company developing the Lac à Paul mining project. Before joining Arianne Phosphate Inc., Mr. David was Vice President Sustainable Development of Osisko Mining Corporation (2007-2012).

Raymond Legault – Director From 1997 to 2005, Mr. Legault was an investment executive at ScotiaMcLeod. He was also president and general manager of his own publishing company for 14 years and, prior to that, he held different senior management positions for a major telecommunications company.

Jacques Bonneau – Director Mr. Bonneau graduated as a geological engineer from Laval University and holds an MSc degree from the same institution. He has more than thirty years’ experience in the mining industry and has been an officer of Soquem, Falconbridge Copper Corporation, Groupe Vior-Mazarin, Minéraux Sequoia Inc and Azimut Exploration Inc..

Claude Boulay – Director Mr. Boulay co-founded and acted as President for the Everest Group from 1976 to 2000. He was then President of Draft Worldwide Québec Inc., a subsidiary of Inter-Public Group. Since 2003, Mr. Boulay is involved in various businesses in the fields of real estate, tourism and finance. .

Company profile

Mineral exploration company listed on TSX:MDN.

Developing two of the world’s most critical metals: Nb & Ta.

Projects in Canada:

Crevier

Samaqua

Prairie Lake

Gold assets in Tanzania:

Ikungu et Ikungu East

Isambara

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Niobium & Tantalum

Niobium (Nb) and Tantalum (Ta) are two transition elements that are essential in high-tech applications.

The scarcity of their supply and their usage in national defense makes them strategic and critical for the USA and EU.

Conflict-free sources of tantalum are being favored and regulated (Dodd Frank Act).

Only 3 niobium producers in the world (ferro-niobium market).

Recent transactions around niobium suggest high value assets. Niobec mine sold to Magris Resources for US$500 million.

Niocorp’s market capitalization at + US$100 million.

CBMM sold 30% of their operation to an Asian consortium for US$ 3,9 billion.

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Niobium & Tantalum: End-Markets

Nb

Source: Roskill, TIC

(Ferro-Niobium)

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Targeted end-markets

Ta

2 shared end-markets Strong demand

growth fundamentals Well established

customers base in North America

Superalloys Aerospace industry Aircraft jet engines Land based turbines Petrochemicals

Electronics Laptops, Cell phones GPS, Video games Automotive Aerospace, Military

The electronic industry accounts for near half of the global Tantalum consumption.

Mostly in the form of tantalum capacitors, widely spread in most home and industrial electronic devices.

Also common to Niobium and Tantalum; Niobium capacitors is however a fairly small market in tonnage terms.

Capacitor manufacturer keep developing new products using Tantalum to meet the miniaturization trend.

Image: Cell phone interior containing tantalum capacitors

Electronic Industry

Image: Lockheed Martin F-35 Lightning II

Superalloys in the aerospace industry constitute an important end-market for MDN.

Second biggest end-market for Niobium consumption after standard grade Ferro-Niobium in high-strength steel products.

Common end-market to Niobium and Tantalum.

Very positive growth history and outlook.

Aerospace Industry

Crevier Project

Located in the Lac Saint-Jean region, Quebec, Canada

Crevier Project Canada

Development update

Location

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Located in the Lake St-Jean region, province of Quebec, Canada.

CREVIER PROJECT

SAMAQUA PROPERTY

NIOBEC MINE

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MDN’s most developed project

$8 M invested to date.

Preliminary Economic Assessment completed (2011).

Feasibility study started. In stand-by because of lack of capital required to complete the metallurgical work.

Growing demand in high-tech end-uses.

Shareholders: MDN: 72.5% and Niobec Inc (recently acquired by Magris Resources): 27,5%.

Part of the Plan Nord

Crevier

Resources (43-101)

Tonnage

(Million tons)

Grade

Nb2O5 (%) Ta2O5 (ppm)

Measured 12.5 0.20 234

Indicated 12.9 0.19 234

Total (M+I) 25.4 0.20 234

Inferred 15.4 0.17 252

NI 43-101 Resources update on Crevier property, July 2010.

Mineral resource within the geological deposit, 0.1% Nb2O5 cutoff grade.

Niobium: High grades cut to 0.5% Nb2O5.

Tantalum: High grades cut to 550 ppm Ta2O5.

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Comparable grades to actual mines and developing projects.

25+ years of mine life at 1 million tons per year throughput.

Flowsheet

Open-pit mining

Grinding

Flotation & gravity separation

Tantalum oxide / K-salt (Ta2O5 Pure / K2TaF7)

Leaching

Bulk SX

(MIBK loading)

Selective Strip

(MIBK)

Concentrate

Niobium oxide (Nb2O5 Pure)

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Best results obtained in laboratory Concentrate of 35% to 37% (Ta+Nb)2O5

Recovery of 67% - 70% Ta2O5 et 68% to 69% Nb2O5

Mass Pull of less than 0.5%

Pilot plant at SGS Lakefield (2012) Concentrate of 32% (Ta+Nb)2O5

Recovery of 40%

Bulk sample from the surface

Pilot plant atCOREM (2013) Concentrate of 9.6% (Ta+Nb)2O5

Recovery of 63%

Metallurgical works summary

%

0

20

40

60

80

Lab SGS COREM

Recovery Grade

Pilot plant

Environment & Social Acceptability

MDN takes all necessary needs to protect the environment. Identify any environments incompatible

with the development and the need for an impact statement for the BAPE.

The opinion and the participation of the communities are very important for MDN. Establishment of a liaison committee with

the First Nation.

Maintain a good communication campaign on the Crevier project development.

Respect of the traditions and the environment.

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Budget & Planning

16 1: Environmental Impact Statement

Improve metallurgy & Corporate development.

Resources update (NI 43-101)

Preliminary Economic Assessment (NI 43-101)

2010 2012 2013

2016 2017 2018-2019 2020

Production

Pilot plant SGS

Pilot Plant COREM

Complete Feasibility Study Permitting, EIS1, Engineering

Financing & construction

2 $M

8 $M

~270 $M

1

2

3

MDN waits for suitable market conditions before financing the required amount to finish the feasibility study.

Samaqua Property

Located in the Lac Saint-Jean region, Quebec, Canada

Samaqua Property Canada

Exploration campaign results

Magnetic signature

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Samaqua property

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7,242 hectares

129 mining claims

Exploration campaign

Exploration campaign 2014-2015

Airborne geophysic survey

September 2014

Ground IP survey

November 2014

Drilling campaign

February 2015

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Results

Disappointing results Best result from hole #8: 0.021% Nb2O5 on 1.2m

Indications suggesting the presence of an intrusive but the results do not justify the continuation of exploration works

Presence of an alkaline system but very low REE, Ta & Nb values.

A total of about $530,000 were invested in which $380,000 were flow-through expenses.

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Prairie Lake Property

Canada

Prairie Lake Property

Located in the Killala Lake Township, Ontario, Canada

High grade potential deposit

Prairie Lake Properties

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Exploration work took place on the property in 2011 by Canadian International Minerals Inc but the focus was on REE.

Prospecting, rock sampling et spectrometer surveys.

Prairie Lake

Properties optioned in February 2015.

Located 45km northwest of Marathon, ON, Canada.

Carbonatites in Eastern Canada

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Archean

Pro

téro

zoïq

ue

Crevier

Saint-Honore

Oka

Ancient Rift Zones

Prairie Lake

Toronto

Carbonatites-rich Alkaline Complexes

(modified from Goutier 2006: Sage 1991; MRNF; Gold 1972; Chevé et Machado 1988; Doig et Barton 1968; Vallée et Dubuc 1970)

Undetermined age

Paleozoic

Neoproterozoic

Paleoproterozoic

Archean

Paleozoic Rocks

Grenville Province

Ungava & New Quebec Orogeny South Province & sedimentary proterozoic rocks

Churchill & Nain Province

Superior Province & Abitibi Sub-province

Montreal

High Grade Samples

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Prairie Lake Properties 247 Claims - 4,000 hectares

High Grade surface samples Site #28: 1.63 % Nb2O5

20.66 % P2O5

Site #30 0.89 % Nb2O5

Trench #7 0.19 % Nb2O5

Site #21a 0.98 % Nb2O5

9.89 % P2O5

Site #21 520 ppm Ta

2 km

Nuinsco

Prairie Lake South 37 Claims - 592 hectares

Prairie Lake 210 Claims - 3,360 hectares

Site #28 High Grade Zone

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0.45 % Nb2O5

0.04 % Nb2O5

0.14 % Nb2O5

4.83 % P2O5

0.38 % Nb2O5

11.52 % P2O5

0.89 % Nb2O5 7.30 % P2O5

0.66 % Nb2O5

7.14 % P2O5

1.63 % Nb2O5 20.66 % P2O5

0.80 % Nb2O5

0.59 % Nb2O5

0.41 % Nb2O5 3.05 % P2O5

0.12 % Nb2O5

0.70 % Nb2O5

9.11 % P2O5 TBD

MAG Gradient and Nb2O5, Prairie Lake

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Vertical gradient of the provincial magnetic airborne survey:

Low MAG in blue

High MAG in pink and black

New discovery from Rudy Wahl:

Best samples (>0.8% Nb2O5) are all within low MAG.

The most northern samples were identified as carbonatites (Joly M. 2014).

This suggests wide zones of carbonatites (low MAG) over the Property, particularly around the Nuinsco Alkaline Intrusive that is mainly made of Ijolite (high MAG).

Nb2O5

Nb2O5

Nb2O5

Nb2O5

Nb2O5

Deal & Commitment

Prairie Lake Property: 210 mineral claims in 16 blocks covering 3,360 ha.

$190,000 and issuing a total of 2,850,000 common shares over 4 years.

Exploration expenditures totaling $305,000 over 4 years.

Prairie Lake South Property: 37 mineral claims in 3 blocks covering 592 ha.

$93,000 and issuing a total of 1,300,000 common shares over 4 years.

Exploration expenditures totaling $115,000 over 4 years.

NSR of 3%; option to redeem 2% for $2,000,000.

Deal structure allow progressive capital expenditures.

Engagements: 2015: Amount of $30,000 spent + $100,000$ in exploration expenses.

2016: Amount of $40,000 to spend + $75,000$ in exploration expenses.

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Exploration program

Hiring of Jacquelin Gauthier, geological engineer. 38 years of experience

Knowledge of carbonatites (Montviel project)

Beginning of ground works in June 2015 Phase I will consist in mapping and trenching of sites of interest.

Subsequent phases will consist in: Phase II, high definition airborne survey with radiometry.

Phase III, drilling campaign on the sites identified in steps I and II

Funding will be required to complete phase II and III.

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Prairie Lake visit

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Discovery of the year

Bernie Schnieders discovery of the year award for Prairie Lake in Northwestern Ontario.

Awarded to Rudy Wahl by the NWOPA.

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Tanzania

Gold assets

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Dar Es Salaam

Ikungu & Ikungu East

Isambara

Nikonga

Tanzanian projects

Lake Victoria area

Activity in Tanzania

Ongoing negotiations with several groups:

Joint ventures and/or divestment

Ikungu is one of the most advanced gold projects in Tanzania although it remains an exploration project. Property generating the most interest

MDN is confident that an agreement will be concluded during the year of 2015.

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Strategy 2015

Sale or joint venture in Tanzania.

Continue the search of funding to carry on with the development on Crevier.

Prospecting work on Prairie Lake: Mapping

High definition airborne survey

Ground IP survey

Drilling

MDN reinforce its position in the niobium niche market while searching for added-value projects.

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Contact

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1693 St-Patrick Street, Suite 106, Montreal (Quebec), Canada, H3K 3G9

Claude Dufresne President & CEO

Tel: (514) 866-6500 x 221

Cell: (514)-996-5728

cdufresne@mdn-mines.com

developing two of the world’s most critical metals