Q 2 2 0 1 8I N V E S T O R P R E S E N T A T I O N

T S X . V : M T O

Canadian Gold Exploration and Production Company

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This presentation contains “forward looking statements” concerning thebusiness , operations and financial performance and condition ofMetanor Resources Inc. (Metanor). Forward-looking statements include,but are not limited to, statements with respect to the future price of gold,the estimation of mineral reserves and resources, the realization ofmineral reserves estimates, the timing and amount of estimated futureproduction, cost of production, capital expenditures, costs and timing ofthe development of new deposits, success of exploration activities,permitting time lines, hedging practices, currency exchange ratefluctuations, requirements for additional capital, government regulationof mining operations, environmental risks, unanticipated reclamationexpenses, timing and possible outcome of pending litigation, titledisputes or claims and limitations on insurance coverage. Generally,these forward-looking statements can be identified by the use offorward-looking terminology such as «plans», «expects» or «does notexpect», «is expected», «budget», «scheduled», «estimates», «forecasts»,«intends», «anticipates», or «does not anticipate», «believes» or variationsof such words and phrases or statements that certain actions, events orresults «may», «could», «would», «might» or «will be taken», «occur» or«be achieved». Forward-looking statements are subject to known andunknown risks, uncertainties, and other factors that may cause the actualresults, level of activity, performance or achievements of Metanor to bematerially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the

integration of acquisitions; actual results of current exploration activities;conclusions of economic evaluations; changes in project parameters asplans continue to be refined; future prices of gold; possible variations inore reserves, grade or recovery rates; failure of plant, equipment orprocesses to operate as anticipated; accidents, labour disputes; delays inobtaining governmental approvals or financing or in the completion ofdevelopment or construction activities and other risks of the miningindustry. Although Metanor has attempted to identify important factorsthat could cause actual results to differ materially from those containedin forward-looking statement, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can be noassurance that such statements will prove to be accurate, as actual resultsand future events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance onforward-looking statements. Metanor does not undertake to update anyforward-looking statements that are included in this document, except inaccordance with applicable securities laws.

Pascal Hamelin, P. Eng., President and COO, is the Qualified Person underNI 43-101, responsible for reviewing and approving the technicalinformation contained in this presentation.

All amounts are in CND dollars, unless otherwise stated.

Forward-Looking Statements

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BachelorOnly permitted Mill in the Urban-Barry campModern infrastructure in placeSignificant growth potential at depthAccess to newly defined Moroy zone330,000 oz produced since 1981

A Gold Company with MULTI-PROJECT GROWTH POTENTIAL

BarryHighly prospective land package in heart of Urban-Barry campNewly defined high grade shear zones open in all directionsBulk sample program planned in Q3-Q4 2018Decline in progressMultiple drill targets to follow up in 2018

MoroyGeologically comparable to Bachelor mineCurrently being drilled and expanding resources at depth and along strikePotential to intersect with Bachelor trend and have large dilated zones at depthDrift from Bachelor mine reached the two known Moroy veins in April 2018

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TSX VENTURE LISTING TSX.V:MTO

Shares outstanding as of Mar. 31, 2018 101.9 M

Options 3.2 M

Warrants 26.0M

Fully diluted 131.2 M

Market capitalization $57.0 M @ $0.56

Cash 5 M

Debt $0M

Capital Structure

WEXFORD CAPITAL LPShares: 12.45%Part Dil: 17.58%

KIRKLAND LAKE GOLDShares: 12.04%Part Dil: 17.03%

E. SPROTTShares: 11.90%Part Dil: 16.28%

Van EckShares: ±6.28%Part Dil: ±9.13%

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LATEST NEWS

2018-04-09: Completes Moroy Access and intercepts 50.9 g/t Au over 4.8m

2018-03-01: Extends Exploration Drilling at the New Bart Zone Intersecting 18.9 g/t Au over 1.6 metres in a g High-Grade Shear Zone

2018-02-27: Step out drilling extends main zone at depth intercepts 21.2 g/t Au over 1.7m at Barry Project

2018-01-19: Intersects 14.3 g/t Au over 4.6m at Barry and moves towards UG bulk sample

2018-01-18: Moroy vein system extended by over 100m to depth with 7.00 g/t Au over 3.9m

2017-12-28: Completes Placement of $11.4M

2017-11-15: Hits multiple gold-bearing shear zones at Barry; intercepted 14.5 g/t Au over 2m

2017-11-02: Intersects 41.6 g/t Au over 1.2m at Moroy veins system South of Bachelor mine

Latest News

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May 2017 April 2018Bachelor Mine• Added multiple UG equipment• Increased ramp dimension to accommodate truck

haulage• Ramp to sub-level 6• 5 UG drills • Increased mine life an additional 2 years targeting

25,000 oz Au / yr with continuous production• 3,300 feet of track drift to access Moroy

Moroy Zone• Developed full access to Moroy Zone• Opened up 2 veins and new mining horizons• Target production 35,000 oz Au / year

Barry Project• Underground resource in progress• 3 surface drills targeting high grade shear zones• Portal completed with decline in progress• Bulk sample to be completed by Q4 2018• Comprehensive 3D model

Rapid Project Advancement

Bachelor Mine• Minimal UG equipment• Ramp to sub-level 3• 3 UG drills • 1 year mine life targeting 25,000 oz Au / year

Moroy Zone• Only structures identified at surface• Minimal drilling completed

Barry Project• No underground resource• 1 surface drill targeting around existing pit

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Good infrastructure, efficient and expandable mill

Stable political environment

Executed agreement with First Nations community

Within highly prospective Urban-Barry camp adjacent to Windfall project

Bachelor and Barry

M I L L L O C A T I O N

B A C H E L O R

7,718HA 7,335HA

B A R R Y

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Urban-BarryAn Emerging Camp

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BarryL O C A T I O N A N D P R O P E R T Y P A C K A G E

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Barry Cross SectionO P E N A T D E P T H A N D A L O N G S T R I K E – S E C T I O N 8 0 0

Lithology Au g/t

HIGH GRADE SHEAR ZONES

LOOKING 240º AZIMUTHSOUTH-WEST

MB-17-935.5 g/t5.0m

MB-17-959.5 g/t2.0m

MB-17-386.5 g/t2.2m

MB-17-606.4 g/t2.1m

MB-51 (1996)7.1 g/t2.0m

MB-17-389.3 g/t2.1m

VERTICAL SHEAR

Shea

r 95

0

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Barry Open Pit and UGO P E N A T D E P T H A N D A L O N G S T R I K E W I T H N E W S H E A R Z O N E S

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Barry UndergroundC O N C E P T U A L S C H E M A T I C 3 D

Proposed Portal

Multiple High-Grade Shear Zones with newly defined conjugate Tensional Veins

Proposed Ramp

Sublevel Access Along Strike of Shear Zones

Stope

Tensional Veins connecting main vertical shears/feeders

Raise

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Barry UG ProjectR A P I D A D V A N C E M E N T O F P R O J E C T S

Q12018Q42017

PERMITTING AND CONSTRUCTION

Q22018 Q32018 Q42018

RAMP DEVELOPMENT AND BULK SAMPLE

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BachelorGOLD MINE AND MILL

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BachelorL O C A T I O N A N D P R O P E R T Y P A C K A G E

Hwy

Production ongoing from Bachelor Mine

Access to Moroy structure completed

2 underground diamond drills are exploring at depth at Bachelor and Moroy

Initiated bulk sample at Moroy

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Bachelor InfrastructureL O N G S E C T I O N L O O K I N G N O R T H - E A S T – S E C T I O N A - A ’

- SUB-LEVELS - RAISE

Level 14

Shaft

Level 13Level 12

Level 11Level 10

Level 08

Level 06

Level 09

Level 07

Level 05

Level 04

Level 03

Level 02

Level 01

RampCurrent Shaft Depth 2,300 feet

Moroy Zone

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Bachelor MineL O N G S E C T I O N L O O K I N G N O R T H – S E C T I O N A - A ’

O’BRIENGRANITE INTRUSIVE

PARALLEL VEIN SYSTEM ZONE**CURRENTLY EXPLORING**

NEW GOLD ZONE 250 M BELOW LOWEST LEVEL

A AI

PLANNEDRAMP EXT

- UNMINED DEFINED STOPES - MINED STOPES

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Bachelor and Moroy Section – Looking EastC U R R E N T U G D R I L L I N G W I T H S I G N I F I C A N T I N T E R C E P T S

LVL 6 EXT

MY17-0097.0 g/t3.9m

Bachelor Mine Trend

Moroy Trend

MY17-0057.5 g/t2.1m

MY17-0077.4 g/t2.7m

LVL 11 Expl

Dilation Zone of Intersecting Structures

MY18-03450.9 g/t4.8m

MY18-0286.3 g/t2.5m

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Moroy Long Section – Looking NorthP I E R C E P O I N T S O F C U R R E N T E X P L O R A T I O N D R I L L I N G A L O N G V E I N S E T S

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BachelorG O L D M I N E A N D M I L L

R E C O V E R Y

>96%A V A I L A B I L I T Y

>95%M I L L C A P A C I T Y

800TPD

C U R R E N T S H A F T D E P T H

700m

H O I S T I N G C A P A C I T Y

1,500TPD 1,200m

P O W E R A V A I L A B I L I T Y

>7MVA

D E P T H C A P A C I T Y

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Bachelor Mill

E X P A N D A B L E T O

1,200TPD

F O R L E S S T H A N

$4M

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Bachelor Mill

BACHELOR MILL

VAL-D’OR

MATAGAMI

CHIBOUGAMAU

GANDEX24,000 Oz

LAC SHORTT82,300 Oz MARIPOSITE

45,000 Oz

SPRINGER11,000 Oz

FENTON LAKE SOUTH64,800 Oz

LAC ROULEAU133,100 Oz

WINDFALL1.6 M Oz

BARRY304,000 Oz

MACHO RIVER101,000 Oz

MORONO37,300 Oz

LSQ

TOUSSAINT42,800 Oz

OSBORNE249,200 Oz

DISCOVERY531,500 Oz

FLORDIN303,700 Oz

CARTWRIGHT28,000 Oz

LAC ROSE6,700 Oz

GLADIATOR273,000 Oz

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MONSTER LAKE433,000 Oz

The Only Mill in the Heart of the Urban-Barry Camp

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Exploration PotentialP L A N V I E W W I T H H I S T O R I C A L S H O W I N G S A N D T A R G E T S

32 g/t over 2.5m Chip Sample

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GREG GIBSONInterim Chairman and CEO

Over 30 years in mine operations and management

Proven Management TeamPASCAL HAMELINPresident and COO

Over 25 years in mine management

ANIK GENDRONCorp. Secretary & Legal Advisor

Over 20 years in corporate & legal affair

NORMAN PARKERGeneral Manager of Operations

Over 30 years in mine operations and management

CLAUDE GOBEILExploration Manager

Over 40 years in exploration and mine geology

JAMES N FAIRBARNChief Financial Officer

Over 35 years in accounting

Board of DirectorsGREG GIBSONChairman and CEOOver 30 years in mine operations and management

PASCAL HAMELINPresident and COO

Over 25 years in mine management

RON PERRYDirector

Over 30 years of accounting and finance

AKIBA LEISMANDirector

Executive Chairman of the Board and Interim CEO of Marlin Gold Mining LTD

ROBERT BRYCEDirector

Over 40 years in corporate and mine management

TRIS COFFINDirectorOver 45 years in business management

MICHEL FONTAINEDirectorCEO of Albert Mining

TINA OUELLETTEDirectorExecutive Vice President, Human Resources of Kirkland Lake Gold

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Conclusions

Proven Assets

Experienced Team

Safe Political Jurisdiction

Low Technical Risk

Bachelor generates positive cash-flow

Large Land Position in Urban-Barry Camp

Definition of UG Barry Resource Underway

Exploration Expansion Ongoing at Bachelor, Moroy, Moss, Barry, Bart and Coniagas

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Conclusions

2872, Sullivan Road, # 2 Val-d’Or, Québec, CanadaJ9P 0B9 Canada

Tel: (819) 825 8678Fax: (819) 825 8224

info@metanor.cawww.metanor.ca

365, Bay Street, # 400Toronto, Ontario, CanadaM5H 2V1

Tel: (416) 775 3591