May 2015

LTD

TSXV.RRL

Forward Looking Statements

• This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. • More particularly and without limitation, this presentation contains forward looking statements and information concerning: Relentless’s future plans and strategy; estimated production and reserves and anticipated increases in production and reserves; development and drilling programs, plans and opportunities; expected finding and development costs and on-stream costs; netback and well economics; future development and growth opportunities; cash flow, net asset value and reserves life. • The forward-looking statements and information in this presentation are based on certain key expectations and assumptions made by Relentless; including prevailing commodity prices and exchange rates; applicable royalty rates and tax laws; future well production rates; reserve and resource volumes; the performance of existing wells; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the receipt, in a timely manner of regulatory, stock exchange and other required approvals. Although Relentless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Relentless can give no assurance that they will prove to be correct. There is no certainty that Relentless will achieve commercially viable production from its undeveloped lands and prospects. • Certain information set forth in this document, including management’s assessment of Relentless’s future plans and operations, contains forward-looking statements including: (i) forecasted capital expenditures and plans; (ii) exploration, drilling and development plans; (iii) prospects and drilling inventory and locations; (iv) anticipated production rates; (v) expected royalty rate; (vi) anticipated operating and service costs; (vii) our financial strength; (viii) incremental development opportunities; (ix) total shareholder return; (x) growth prospects; (xi) sources of funding, which are provided to allow investors to better understand our business. By their nature, forward-looking statements are subject to numerous risks and uncertainties; some of which are beyond Relentless’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, changes in environmental tax and royalty legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Relentless’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements or if any of them do so, what benefits that Relentless will derive there from. Relentless disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. • Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the operations or financial results of Relentless are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). • The forward-looking statements and information contained in this presentation are made as of the date hereof and Relentless undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Boe Advisory • The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A Boe conversion ratio of six thousand cubic feet per barrel (6 Mcf: 1 Bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Management & Directors

CEO/Chairman - Dan Wilson - P.Eng 29 years- Alexander, Vigilant, Relentless Energy, Chain

President/Director- Ron Peshke - P.Eng 17 years- Alexander, Haywood, Cinch, Valiant, Baytex, Fletcher Challenge

CFO – Hugh Thomson - CA 22 years- Alexander, New North, Trenton, Dundee

Director - W. C. (Bill) Macdonald 34 years- Alexander, Bilmac, Avalanche, DeKalb, Amerada Hess, Hardy

Director - Murray Frame 40 years – Canoil, Inverness

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Areas of Operation

Peace River Arch AB – 8,200 acres – Doe Creek, Charlie Lake, Doig and Montney

Gilby AB – 26,900 acres – Ellerslie, Glauconite, Viking Willesden Green/Ferrier AB – 14,240 acres –Viking, Second White Specs

Pine Creek AB- 4,000 acres - Cardium

Heathdale AB – 6,000 acres – Glauconite, Detrital Banff

Others: Gordondale, Pageant

Focus Area

Focus Area

Historical Area

Historical Area

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RRL Opportunity • Ground floor opportunity on a growing, micro oil and gas publicly traded

company. $13MM EV @$0.15/share, less than $30,000/flowing boed with significant drilling upside

• Conventional shallow oil drilling. High working interest, low risk, large OOIP development

• Low historical F&D costs and moderate well payouts. Keep capital cost and risk low,

aggregate oil assets for a better price environment.

• Multiple oil horizontal targets ranging from Glauconite, Cardium, Doe Creek, Viking and Charlie Lake horizons.

• Near term growth to 1,000 boed targeting greater than 70% oil weighting and greater than $25.00/boe operating netbacks.

• Low corporate G&A and interest expense. Management and Directors are aligned with

shareholders

• Motivated Management team, experienced Board of Directors

• Seek to realize a liquidity event within the next 12 months

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Corporate Information – Base NAV Relentless Resources:

63.8MM shares basic, 71.1MM fully diluted

• Management and Directors own 38% basic and 44% fully diluted

• $4.0MM Current Bank Line

• Estimated Net Debt $2.5MM

• Estimated Current Production Capacity : 500 boed, 65% oil

• 57,000 gross acres (55,000 net acres)

• AER LLR April 2015 of 2.29 and increasing

Base Producing NPV – Reserves Sproule Dec 2014

Basic Shares – 63.8MM PDP NPV 10% - $7.1MM TP NPV 10% – $7.5MM TP+P NPV 10% - $10.1MM (Before tax)

• There are no future PUD locations

booked • No land value included • Does not include the 14-8 and 7-8

Heathdale wells

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Heathdale – Overview • 4 sections @ 100 % WI , farm-in on remaining 4.5 sections • >25 Mannville oil locations , 26 API crude, 1000 mTVD • Historical vertical oil production on lands • Bypassed Glauconite pay over 4 sections • 5-7 vertical wellbore shows 30 m thick gross Glauconite channel deposit • 3D seismic analysis shows further thickening of Glauconite sequence • 8-7 W4 horizontal IP30 at 160 boed and currently at 100 boed (80% oil) • 14-8 and 7-8 onstream in March 2015 adding 200 boed (85% oil) • Low producing GOR’s and thick pay/OOIP promote downspacing • Conventional declines - porosities greater than 21%

0

25

50

75

100

125

150

0 2 4 6 8 10 12 14 16 18 20 22

BO

ED IP

Months On

Heathdale 2 year Type Curve65 boed FYA 100 Mboe

Drill -$600K Complete- $600K Equip and Tie In -$200K Total Onstream - $1400K

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30 m of gross Glauconitic

Heathdale - Development

Spacing – 8 wells per section • >25 horizontal wells

possible • 3D seismic defined

Glauconite channel and overbank deposit

• 2 horizontals and 1 vertical well licensed

• 5 more low risk horizontals ready

• 18 additional horizontal wells

• YE 2014 Reserve Report only evaluates 3 vertical and 1 horizontal well

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Heathdale Capital to Date 30 day IP F&D F&D

K$ BOED MBOE $/BOED $/BOE

Purchase 9-7-27-9 W4 700$ 8 45 87,500$ 15.56$

Recomplete 3 wells to delinate the pool over 3 miles 600$ 20 35 30,000$ 17.14$

Drill 8-7-27-9 W4 Horizontal 1,800$ 160 100 11,250$ 18.00$

Drill 14-8-27-9 W4 Horizontal 1,500$ 65 75 23,077$ 20.00$

Drill 7-8-27-9 W4 Horizontal 1,500$ 150 100 10,000$ 15.00$

Total 6,100$ 403 355 15,136$ 17.18$

Drilled or Licensed 2015 Locations 2016 Locations

Heathdale –Economics

• $1.4MM onstream costs

• $12.00/bbl differential

• 20% royalty

• $7.00/boe opex

• 2 out of 3 Heathdale Glauc horizontals are above the type curve.

• Type curve expects 65 boed FYA, 100 mboe • Type curve wells receive a 14% IRR at $40 WTI

(breakeven limit of the play) • Type curve wells pay out in less than 2 years at

constant prices above $60 WTI

Sproule Dec 2014 Escalated

-Canadian Lt -$12 diff

NPV 10% K$ ######## 70.35$

FYA 40 1,022$

boed 45 1,309$

50 1,595$

55 1,882$

60 2,169$

65 2,456$

70 2,743$

75 3,029$

80 3,316$

Sproule Dec 2014 Escalated

-Canadian Lt -$12 diff

IRR (%) 55% 70.35$

FYA 40 29%

boed 45 35%

50 40%

55 45%

60 50%

65 55%

70 60%

75 65%

80 70%

Constant Price Economics

NPV 10% K$ WTI $USD/bbl (1.2 FX and $12 diff)

$794.63 50.00$ 60.00$ 70.00$ 80.00$ 90.00$

FYA 40 1-$ 394$ 789$ 1,184$ 1,579$

boed 45 159$ 603$ 1,047$ 1,491$ 1,935$

50 318$ 811$ 1,305$ 1,798$ 2,292$

55 477$ 1,019$ 1,562$ 2,105$ 2,648$

60 636$ 1,228$ 1,820$ 2,412$ 3,005$

65 795$ 1,436$ 2,078$ 2,719$ 3,361$

70 954$ 1,645$ 2,336$ 3,026$ 3,717$

75 1,113$ 1,853$ 2,593$ 3,334$ 4,074$

80 1,272$ 2,061$ 2,851$ 3,641$ 4,430$

IRR (%) WTI $USD/bbl (1.2 FX and $12 diff)

28% 50.00$ 60.00$ 70.00$ 80.00$ 90.00$

FYA 40 10% 19% 28% 37% 46%

boed 45 14% 24% 34% 44% 54%

50 17% 28% 40% 51% 62%

55 21% 33% 45% 58% 70%

60 25% 38% 51% 65% 78%

65 28% 43% 57% 72% 86%

70 32% 47% 63% 79% 94%

75 35% 52% 69% 86% 103%

80 39% 57% 75% 93% 111%

0

50

100

150

200

250

300

0 10 20 30 40 50 60

BO

ED IP

Days On

Heathdale 60 day IP rates (BOED)

8-7

7-8

14-8

Average

Log. (Type Curve )

0

50

100

150

200

250

300

0 2 4 6 8 10 12 14 16 18 20 22 24

BO

ED IP

Months On

Heathdale 2 year IP rates (BOED)

8-7

7-8

14-8

Log. (Type Curve )

Heathdale - Facilities

• Central multi-well battery constructed and operating in March 2015

• Gathers 95% of the Relentless Heathdale oil and gas production

• Tank treating allows for clean oil trucking, better pricing and lowers operating costs

• Positions property for efficient future development

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Pine Creek • 6.25 gross sections at 100% WI • Cardium offsetting production from

Torc and Long Run • Bypassed Cardium pay on lands • No reserve value attributed to this

area • Nearby gas processing facilities and

good surface access • Ability to ramp production through

multi-well pad site drilling

1900 m, 40 degree API sweet oil $3.5MM DCET 250 boed IP 115 boed FYA (70% oil and NGLs) 230 mboe Reserves $3.3MM NPV 10 43% IRR Sproule Dec 31,2014 pricing

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Peace River Arch

• May 2014 Acquisition – 120 boed – 64% gas

• 12 gross (7.4 net wells), 3 (1.4 net) non producing wells

• Mostly operated, mature, low decline gassy oil wells

• Future horizontal development in Charlie Lake and Doe Creek

• Acquisition added to balance sheet strength and provided cashflow for Heathdale drilling

GOLD CREEK – Doe Creek Oil

VALHALLA – Charlie Lake Oil

SADDLE HILLS UNIT – Doe Creek Oil

Overall

• RRL is a small enterprise value public company with a tightly held shareholder group committed to creating shareholder value

• Focusing on high working interest shallow oil prospects will create value in an

environment where it is currently difficult

• Company has grown from 50 boed to 500 boed in the past year with the addition of two new core areas that have low risk development upside

• Liquidity can come as a result of a merger, sale, reverse take over or re-capitalization

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Information

Relentless Resources Ltd. Suite 320, 700 4th AVE SW

Calgary AB

T2P3J4

403.532.4466

Email: info@relentless-resources.com

Website: www.relentless-resources.com

Reserve Evaluator – Sproule

Auditor – Meyers Norris Penny

Legal Councel – McCarthy Tetrault

Bank– Alberta Treasury Branch

Registrar and Transfer Agent- Computershare

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