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YELLOWKNIFE CITY GOLD PROJECT

Advancing the Last

High-Grade Gold Camp in Canada

June 27, 2016

Cautionary Statement 1

2

3

Cautionary Statement 2

GEOLOGY - Covers 23 km of strike (118 km2) on one of the major high-grade gold camps in Canada – and the

least explored.

LOCATION - “In the shadow of the head frame” immediately north and south of the world-class Giant and

Con Gold Mines - 14.2 Moz Gold1 produced over 60 years @ average grade of 16 g/t Au1

ACCESSIBLE - Road access to city of Yellowknife (5 km to south), supply centre for NWT exploration; new

(2013) hydro-power dam on property; 8 km from commercial airport; skilled trades people and local support

EXCELLENT ENDOWMENT - Multiple gold-bearing structures:

- Mispickel – new discovery winter 2016 drilling 8.00m @ 60.602 g/t Au and 7.30m @ 23.60 g/t Au33

- Barney Shear (extension of shear that hosted Con and Giant) - TerraX drills 22.4 m @ 6.35 g/t Au4

- Crestaurum – drill intercept of 5.0 m @ 62.9 g/t Au5

- Shear 20 – drill intercept of 21 m at 2.97 g/t Au6

- Hebert-Brent – new discovery summer 2015 - surface channel sampling of 11.0m @ 7.55 g/t Au7

- Sam Otto – 2016 drill intercepts of 49.70m @ 1.00 g/t Au8 and 30.70m @ 1.33 g/t Au8

FUNDED & ACTIVE

- June 2015 - $5.2M raised in placements and sale of option on 1% NSR to Osisko Gold Royalties for $1M

- May 2016 - $3.2M raised in placements

- Fully funded for multiple drill programs in 2016 and 2017.

SECURE LAND HOLDINGS – Northwest Territories, Canada

- 100% ownership; majority of property is mineral leases, with no work commitments or property payments

ATTRACTIVE SHARE STRUCTURE – 77.8M shares issued

- 13.5% ownership by management and staff

- 14.5% acquired for cash in private placements by Osisko Gold Royalties (TSX: OR)

EXPERIENCED MANAGEMENT - Exploration, resource definition, mine planning and operations 4

Investment Highlights

Company OverviewIssued Shares: 77.8 mln

Options: Total : 6.1 mln

1,860,000 @

395,000 @

100,000 @

295,000 @

1,050,000 @

500,000 @

750,000 @

175,000 @

790,000 @

250,000 @

$0.17 (Jun. 28, 2018)

$0.35 (Dec 24, 2017)

$0.61 (Sept 30, 2016)

$0.45 (Dec 23, 2016)

$0.35 (Mar 14, 2019)

$0.61 (May 5, 2019)

$0.38 (Mar 26, 2018)

$0.31 (July 22, 2018)

$0.25 (Sept 1 2017)

$0.32 (Feb 11, 2018)

Warrants: Total: 10.8 mln

1,236,462 @

750,000 @

650,000 @

4,018,738 @

946,136 @

3,017,500 @

151,380 @

$0.50 (Dec 20, 2016)

$0.51 (Feb 12, 2017)

$0.57 (Feb 28, 2017)

$0.50 (Sept 30, 2017)

$0.55 (June 5, 2018)

$0.50 (May 6, 2019)

$0.40 (May 6, 2018)

Fully Diluted Shares: 94.7 mln

Basic Market Cap (C$0.41/share) $31.9 mln

Held by Management: 13.5%

Held by Osisko Gold Royalties: 14.5%

Working Capital $4.9 Million

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June 24 2016

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Joseph Campbell, P. Geo – President, CEO and Director

• 36 years of experience, including Exploration and Mine Development, open pit & underground

• Project Manager for 7 years from discovery to pre-feasibility - Meliadine gold project, Nunavut

⁻ Introduced Meliadine to Agnico Eagle (AEM) in 2007; wrote Endowment Study for AEM

⁻ Completed pre-feasibility level scoping study in 2008 with AEM engineers in Val D’Or;

⁻ AEM acquired ≈9% of Comaplex ($46.9M in cash) in 2008;

⁻ AEM acquired balance of Comaplex for $650 Million in shares in 2010;

⁻ One of Agnico Eagle’s largest projects in terms of reserves and resources:

P&P Reserve of 3.3 Moz @ 7.44 g/t Au with Indicated Resource of 3.3 Moz @ 5.06 g/t Au

⁻ Agnico’s “fastest growing project with multiple high-grade zones”:

Inferred resource at 3.5 Moz @7.65 g/t Au

Dr. Thomas Setterfield, P. Geo – VP Exploration and Director

• 36 years of international experience: Ph.D in Geology from Cambridge University (1991)

• Expert in IOCG, Epithermal Au and VMS deposit types

Stuart Rogers, CFO and Director

• 25+ years as director and senior officer of public companies on TSX-V, TSX and NASDAQ

Paul Reynolds, P. Geo – Director

• 28 years of experience in resource exploration and public company management

Elif Lévesque, CPA, CGA, MBA – Director

• Chief Financial Officer and VP Finance for Osisko Gold Royalties since June 2014

• 13 years of experience in finance, treasury and strategic management in the mining industry

Accomplished Management

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Yellowknife - One of Six High Grade Gold Camps in Canada

More Than 300M* Oz Gold have been mined from Archean Gold deposits in Canada, with the vast majority from High Grade Gold Camps

Yellowknife is the most northerly and least explored of these camps

* Gold Ounces in Camps include known historical production, reserves and drill indicated resources from public

records. Totals should be considered approximate with an error range sufficient for comparison purposes. Other

large Archean gold areas include Detour/Sunday Lake; Rice Lake; Chibougamau; Meliadine; and Meadowbank

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Geology of the YCG propertyIdeally Located for Discovery

• YCG is 1182 km and 23 km strike

length covering the extension of the

Geology Containing the Con and

Giant Mines – Past Production

Includes:

o Con Mine

1938 to 2003

6.1 million oz @ 16.1g/t Au1

o Giant Mine

1945 to 2004

8.1 million oz @ 16.0g/t Au1

• YCG properties cover the most

prospective geology of this belt

• Unique Situation for a Junior Mining

Company to Control a Major Gold

Camp in Canada

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• Year Round Access from Yellowknife

• 8 km by road to Yellowknife Airport -site of TerraX core facility

• Blue Fish Hydro Dam on Property –expandable for Mine Development

• Skilled available workforce

• Local service providers

Unmatched Accessibility Excellent Infrastructure

• Population - 20,000

• Founded on 2 Gold Mines

• Transportation hub for NWT

• Highway Access to the Rest of Canada

• Daily jet service to major cities

City of Yellowknife:

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TerraX Core Facility

0 52.5

kilometers

THE ‘CORE GOLD AREAS’Concentrating our exploration efforts

• Based on Surface work and drilling up

to 2016 TerraX has defined a 10 x 4 km

‘Core Gold Area’ of mineralization

o The Core Gold Area is contained

within a major flexure of the main

Yellowknife Gold Camp Shear Zone

o To date TerraX has discovered

within the Core Gold Area:

� Mispickel

� Sam Otto

� Barney

� Hebert-Brent

� 20 Shear and

� Crestaurum

• Taken collectively we believe the shears

and veins could be indicative of gold-

bearing vein sets common to large

mineralized systems

0 2.5 5

kilometers

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RESULTS OF 2016WINTER DRILLING

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UPGRADECURRENTICE ROAD

EXTENDEDICE ROAD & TRAILS

• Mispickel - 6.0m @ 7.29 g/t Au9

in chip sampling

on surface; 8.00m @ 60.60 g/t Au2, 7.30m @ 23.60

g/t Au3, & 8.60m @ 12.87 g/t Au

3in 2016 drilling

• Sam Otto - 49.70m @ 1.00 g/t Au incl. 10.35m @

2.54 g/t Au8

& 30.70m @ 1.33 g/t incl. 15.00m @ 2.02 g/t Au

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• Barney - Structure with gold mineralization at

>500m vertical depth; re-interpretation that high grade

lodes are on shear flexures; 5.34m @ 3.09 g/t Au2

in

porphyry

• Hebert-Brent – Initial Discovery of Replacement

Style Gold Mineralization; template for exploration of

deposit type, 7.10m @ 3.61 g/t Au10

and 8.00m @ 3.21 g/t Au

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• Homer Lake - Discovery of new gold Zone -

15.91m @ 1.78 g/t Au incl. 2.70m @ 5.51 g/t Au11

&

18.19m @ 1.20 g/t incl. 5.59m @ 3.31 g/t Au11

, gold

structure traced in geophysics and LiDAR for

approximately 5 km

• AES - All holes intersected gold hosted in quartz

veins (up to 2.98 g/t Au2) within 5km shear extending

from Giant property where mining occurred

• Pinto and VSB - no significant assay results

MISPICKEL

SAM OTTO

HEBERT-BRENT

BARNEY

PINTO

HOMER

AES

VSB

MISPICKEL DISCOVERYWinter 2016 – X-Section A-A’

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A’A

Looking South6.0 m @ 7.29 g/t Au

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u19

A A’

3

2

93

Magnetic Survey Area – Summer

2016

WALSH LAKE 2016MAGNETIC SURVEY

• Winter 2016 Ground Magnetic survey

completed on Lake portions of Walsh Lake

Property

o Defined high magnetic trend

associated with the Mispickel gold zone

for 5 kilometers

o Survey was completed in time to assist

in location of 2nd phase of Mispickel

drilling

• Summer 2016 Magnetic survey completed

on land sections

o approximately 200 line km completed

to date

o includes coverage of the Sam Otto gold

zone, and other trends parallel to

Mispickel

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MISPICKEL

SAM OTTO

2 0 1

kilometers

SUMMER 2016MAGNETIC

SURVEY AREA

14

SAM OTTO ZONE8

WINTER 2016 DRILLING

100 meters

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Major Findings – reinterpreted

2014 and 2015 drilling

• Gold grade in Barney Shear

Zone increases at shear dip

flexures

• The high grade Barney Zone

occurs on a ‘ledge’ in the

steeply dipping Barney Shear

• Positions of historical drilling,

particularly NB96-09 on this

section, may need corrected

positions

• High grade ledge has now

been interpreted over +300

meters of strike

• Targeting for more ‘ledges’ in

Winter 2017 drilling

100 meters

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13

4

4

16

Replacement Style Targets - Sericite Zone Alteration

5 TIMES LARGER

ON SURFACE

THAN

HEBERT-BRENT

ZONE

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Crestaurum Zone – 2014/15 Drill Programs

South Ore

Shoot

Central

Ore Shoot

North Ore

Shoot

North Ext

Ore Shoot

• 2014 Program to twin 1945-47 drilling and in-fill drilling on

known high grade shoots

• Twin Drill Holes incl. TNB14-011 10.02m @ 4.17 g/t Au15

• In-fill Drill Holes incl. TNB14-019 2.85m @ 33.60 g/t Au16

• 2015 Drill Programs

• SOUTH SHOOT

o TCR15-003 7.00m @ 10.23 g/t Au17

o TCR15-068 4.21m @ 12.4919

o TCR15-052 10.80m @ 3.49 g/t Au19

100m 200m 400m0m

BLOCK MODEL GRADES

LEGEND

Areas of 2014Drill Holes

Areas of 2015Drill Holes

• 2015 Drill Programs

• TCR15-025 8.86m @ 2.86

g/t Au, incl. 2.00m @

10.24 g/t Au18 - 400m

strike extension

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FULLY FUNDED

• Approximately $4.9M in working capital

o $3.2M raised in private placements in May 2016 for 2017 exploration

• $120,000 received from GNWT for 2016 exploration under Mineral Incentive Program

Exploration Activities for Remainder of 2016

• Extensive surface exploration – Summer/Fall 2016

o Mapping Prospecting – Replacement Style Deposits; Southbelt; Walsh Lake

Mispickel/Sam Otto targets

o Expanded Ground Magnetic Survey along the Mispickel structure – half completed

o Ground IP on prospective replacement targets

• Airborne LiDAR and Radiometric survey on Southbelt – Surveys are completed - June 2016

• Summer/Fall drill program - approximately 5000 meters planned

o Mispickel expansion

o Advanced Replacement Style targets

o Other Targets of opportunity

• Drill permit application for Southbelt drilling in Winter 2017

SUMMER 2015

ROAD TO CRESTAURUM

WINTER DRILL SITE

FEBRUARY 2016

MISPICKEL

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1 (604) 689-1749 (Vancouver)

1 (613) 843-8109 (Ottawa)

E-Mail: info@terraxminerals.com

www.terraxminerals.com

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REPAIRS ON CRESTAURUM ROADJUNE 2015

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Appendix I - References for Assay Values

Within this Presentation

1. Slides 4, 8 - Con Production from Extech III Field Guide, 2002, The Yellowknife Mining Camp Over 60 Years of Mining, editor Hendrick Falck, Section - Miramar Con Mine, pg 80, table 1;

and Slides 4, 8 - Giant Production from James P. Siddorn, PhD thesis, The Giant-Con Gold Deposit: A Once Linked Archean Lode-Gold System, Chapter 2 – Siddorn, J. P., Cruden, A. R.; Early Gold Mineralization Versus Late Overprinting in a Structurally Complex Gold Deposit: The Giant Gold Deposit, Yellowknife Canada, pg 13

2. Slide 4, 11, 12 News Release June 6, 20163. Slides 4, 11, 12 News Release February 23, 20164. Slides 4, 15 News Release August 25, 20145. Slide 4 News Release October 2, 20136. Slide 4 News Release October 16, 20137. Slide 4 News Release August 11, 20158. Slide 4, 11, 14 News Release April 13, 20169. Slide 11, 12 News Release October 30, 201310. Slide 11 News Release May 19, 201611. Slide 11 News Release May 4, 2016 12. Slide 15 News Release August 14, 201413. Slide 15 News Release May 13, 201514. Slide 16 News Release October 28, 201515. Slide 18 News Release June 2, 201416. Slide 18 News Release September 15, 201417. Slide 18 News Release Feb 26, 201518. Slide 18 News Release April 1, 201519. Slide 18 News Release December 8, 2015