River Valley Platinum Group Metal Project, located 100 Km ... · River Valley Platinum Group Metal...

River Valley PGM Project: Path to Development

March 2020

TSXV: NAM ||| OTCQB: NMTLF ||| FSE: P7J

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.

TSX.V : NAM | OTCQB : NMTLF | FSE : P7Jnewagemetals.com 2

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

TSX.V : NAM | OTCQB : NMTLF | FSE : P7J | newagemetals.com 3

P&E Mining Consultants:Eugene Puritch

DRA Americas:Jim Kambossos

Dr. Bill Stone: PGM

Consultant

4

• $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

TSX.V : NAM | OTCQB : NMTLF | FSE : P7J

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


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


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


• 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


Mineral Resource Estimate basedon exploration database containing710 drill holes with 106,554 assaysrecords and 2,642 surface channelsamples.

TSX.V : NAM | OTCQB : NMTLF | FSE : 7

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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

12

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


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


• 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


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

17

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


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


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!


IP drill target

surface

30

0m

open

open

20

Strategic Blue Sky Upside


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


23

Thank You for Your Time and Consideration

New Age Metals

59 Burtch’s Lane

Rockport Ontario K0E 1V0

T: 613-659-2773

E: [email protected]

E: [email protected]


River Valley Project Site Tour - 2018

mailto:[email protected]

mailto:[email protected]

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