arlington predaba cape town indaba february...

Arlington PredabaCape Town Indaba

February 2020

TSX.V: SME

This presentation contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions andaccordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not toplace undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as “objectives”, “forecast”, “pursue”,“growth”, “estimate” and other similar words or expressions. Except for statements of historical fact relating to the Corporation, information contained orincorporated by reference herein constitutes forward-looking information, including, but not limited to, the future price of, and demand for, minerals, aswell as the Corporation’s strategy, plans or future financial or operating performance. Forward-looking information is based upon assumptions that wereapplied in drawing a conclusion or making a forecast or projection that are believed to be appropriate in the circumstances, including the following: theCorporation will be able to obtain additional financing on reasonable terms or at all; the Corporation will be able to recruit and retain the services of its keytechnical and management personnel; the Corporation’s management will not identify and pursue other business objectives in future; there will be nounexpected technological, economic, political or other disruptions that will affect supply or demand for minerals in manner that would have a materialadverse effect on the Corporation; the Corporation will be able to obtain all required regulatory approvals without undue delay or subject to excessivelyburdensome conditions; the results of current exploration activities will be favorable; the price of minerals will remain sufficiently high and the costs ofadvancing the Corporation’s projects sufficiently low so as to permit it to successfully implement its business plans; and that the risks referenced above,collectively, will not have a material impact on the Corporation. While management considers these assumptions to be reasonable based on currentlyavailable information, they may prove to be incorrect.

Risk factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statementsinclude, but are not limited to, exploration results, revenue, fluctuations in the price of currencies or minerals or of local operating costs, mining industryrisks, delays, political and social stability in Africa including our ability to maintain or renew permits and other risks as described in our documents filed fromtime to time with Canadian securities regulatory authorities. Information with regards to these and other risk factors can be found in Sama’s MD&A for theperiod ended September 30, 2019 available at www.sedar.com.

These forward-looking statements are dated as of January 31, 2020 and we disclaim any obligation to update or revise these forward-looking statements,except as required by applicable law.

Forward Looking Statements

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http://www.sedar.com/

Corporate Summary

TickerTSX-V: SME

OTC-US: SAMMF

Shares Outstanding 216,341,410

Options 15,840,000*

Warrants 13,747,406*

Market Cap CAD$49,758,000(CAD$0.23 per share Jan 24 th)

Debt Nil

Cash

Securities Holdings 24.7 M shares of SRG Mining Inc. (December 19th, 2019)

CAD$6,200,000(including CAD $ 2.0M

receivable from SRG)

CAD$12,300,000(~CAD$0.06 per share of SME)

( $ 5,300,000 paymentReceivable for SRG shares)

Project Location Ivory Coast

SHAREHOLDERS

• HPX Ivory Coast Holdings 23.1%• MMG (China Minmetals) 7.1%• Management & Insiders 6.1%• African Lion 1.6%• Commodity Discovery Fund 1.0%

TSX.V: SME samaresources.com 3

* Please see full option and warrant schedule on slide 23

TSX.V: SME samaresources.com

CORPORATE PROFILEM

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Benoit La Salle – Executive Chairman and Director (FCPA, FCA, MBA)• Former President & CEO of SEMAFO Inc.Marc-Antoine Audet – President, CEO, and Director (PhD Geology, P.Geo.)• 27 years of geological experience in exploration and development with Falconbridge and Xstrata NickelIsabelle Gauthier – CFO (CA)• 20 years experience in accounting, auditing and former Senior Director of Raymond Chabot Grant Thornton Bakayoko Bouake – Exploration Manager, West Africa • Involved in Falconbridge’s nickel sulphide exploration project between 1994 - 2008

Eric Finlayson – Director (BSc., Hons.)• President of High Power Exploration Inc and has served as the Chief Executive Officer of Rio Tinto Coal MozambiqueGovind Friedland – Director• Founder and Executive Chairman of GoviEx Uranium and a Director and Co-Founder of Ivanhoe IndustriesOusmane Paye – Director• Economist and Diplomat, former ambassador of Senegal in Canada.Richard Quesnel – Director (BSc., Eng.)• Former President &CEO ofConsolidatedThompson iron Mines of MontrealMarcelAubut – Director (O.C., O.Q., Q.C., Ad. E.)• Mr. Aubut has been a corporate lawyer for more than 30 years. Former CEO and co-owner of the Québec

Nordiques. Former President of the Canadian Olympic Committee

Ron Netolitzky –Advisor (Msc., P.Geo)• FormerChairman ofViceroy Resources Corp., LokiGold Corp., and Baja GoldMike Halvorson –Advisor (Bcomm)• Former Director of Novus Energy,Gentry Resources,Viceroy Exploration, andWestern SilverTodd Hilditch –Advisor (BSc.)• Former President &CEO of TerracoGoldCorp. & Salares Lithium Inc.Matt Johnston –Corporate Development Advisor (BBA)• Former corporate development advisor of Terraco Gold Corp., Salares Lithium Inc. and Talison Lithium Ltd.

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Adv

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Ivory Coast Guinea

832 km2 of explorat ion ground in t he largeYacouba Layered Complex

Project’s Milestones & Catalysts


On Oct 26, 2019, Sama Nickel Côte d’Ivoire SARL received the highest distinction award for the quality of his management from the Ivorian Prime Minister at an Industrial Promotion Event in Man, WesternCôte d’Ivoire

• Samapleu PEA• Continued Technical Study for a proposed open pit operation

at Samapleu deposits.

• SME-HPX: program• Injection of up to 30M$ in Côte d’Ivoire• 2020 drilling programs:

- Testing Typhoon EM targets at Yepleu, Bounta, Samapleu, Grata.

- Sama’s new powerful drilling rig expected in mid February. - 6,000 m planned for 2020.

• Additional areas for Typhoon ground survey on PR 838 (figure 10)


The Samapleu and Yepleu deposits’mineralization and geological characteristics aretypical of layered Pipe-like Intrusion or aconduit-hosted nickel deposits.

These rare types of intrusions host the world’slargest nickel-copper deposits such as:

• Noril’sk (2,216 Mt at 0.78% Ni, 1.38% Cu)• Jinchuan (515 Mt at 1.06% Ni, 0.67% Cu)• Voisey Bay (137 Mt at 1.68% Ni, 0.87% Cu)• Eagle (5 Mt at 3.33% Ni)• Eagle Nest (20 Mt at 1.68% Ni, 0.90% Cu)• Kalatongke (24 Mt at 0.68% Ni, 1.08% Cu)• N’komati (3 Mt at 2.08% Ni, 1.14% Cu)

GEOLOGICAL MODEL AND WORLD CLASS POTENTIAL

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Naldrett 2004

(Zhou et al., 2002; Song et al., 2011; Ding et al., 2012a; Lightfoot and Evans-Lamswood, 2015)


SAMAPLEU & YEPLEU GEOLOGICAL MODEL

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25 km


54 m of mineralized pyroxenite 0.96% Ni, 0.76% Cu & 0.74 gpt PdIncluding a combined 8.0 m of massive sulphide grading 4.08% Ni, 2.43% Cu & 2.92 gr/t palladium starting 60m from surface


Sama’s 2020 Typhoon and Drilling program

Slide 11

Slide 14

Slide 12

Slide 13


Typhoon EM : 2019 Samapleu Test Zone

700 m


2020 Typhoon & Drilling program at Samapleu


Samapleu: 4.6 m @ 1.98% Ni, 0.92% Cu & 2.45 gpt Pd


Typhoon EM: Bounta


Typhoon EM: Compilation of the 2019’s surveys at Yepleu


Results from the Mise-a-la-Masse survey match precisely with the initial Typhoon™electromagnetic geophysical survey interpretation in terms of size and location of the conductive target.

2019 drilling program, Yepleu Sector 1

The first deep drill hole (YE29-556043) intersected semi-massive sulfide mineralization with a combined5.2 meter intersection grading 1.16% nickel, 0.62% copper, 0.24 gpt palladium and 0.21 gpt platinum(using a cut-off-grade of 0.8% nickel) within a larger interval of 37 m of disseminated sulphidemineralisation grading 0.41% nickel, 0.31% copper, 0.23 gpt palladium and 0.17 gpt platinum.

Recent Down-Hole EM survey, June 2019, return a very strong off-hole EM anomaly, 50 to 60 m SW andlower down from the YE22-225440.


Typhoon EM: Yepleu Loop 8 vrs 2018 HTEM


Semi-Massive and Massive Sulphides in second Drill Hole at Yepleu Sector 1

A second hole drilled at theYepleu Sector 1 as follow-upon the mineralized zoneintersected on the first deephole, returned a mineralizedzone of 36m @ 0.40% Ni,0.24% Cu including 13.4m @0.76% Ni , 0.47% Cu, 0.16 gr/tPd from 585 m from thesurface.


Hon. Jean-Claude Kouassi, Côted’Ivoire’s Minister of Mines andGeology, and Hon. Abdallah AlbertToikeusse Mabri, Minister for HigherEducation and Scientific Innovation,recently visited Sama’s Yepleu Nickel-Copper-Cobalt-Palladium Project.

2.0%Ni in sulphide lense HPX site visit: Discovery outcrop at Yepleu

Discovery has led to Major Political Traction in Côte d’Ivoire

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New Coretech 3000

Coretech 1300G

Komatsu D85

Caterpillar D7GLow Bed


Stock Option & Warrant Expiry ScheduleStock Options Outstanding

Exercise Price Expiry Date

400,000 0.15 June 29, 202150,000 0.12 August 31,2021

1,400,000 0.32 June 6, 2022200,000 0.155 June 21, 2022

1,000,000 0.33 October 14, 20222,150,000 0.19 April 21, 2025

200,000 0.18 May 27, 20251,900,000 0.085 January 17, 2027

500,000 0.15 March 31, 2027100,000 0.195 April 27, 2027660,000 0.29 November 28, 2027

3,225,000 0.27 February 19, 202915,840,000

CSR Commitment:

“SAMA Resources through its African subsidiaries recognizes the

pursuit of economic growth through employment creation and income

generation”

• Provide reasonable working conditions and terms of employment;

• Comply with national law;• Not make employment decisions on the

basis of personal characteristics like gender, ethnic or religion;

• Base the employment on the principle of equality and fair treatment;

• Not to employ children (all persons under the age of 18) in any manner that is economically exploitative;

• Provide a safe and healthy work environment.

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