A L e a d i n g Z i n c J u n i o r i n E s t a b l i s h e d C - - PowerPoint PPT Presentation

A L e a d i n g Z i n c J u n i o r i n E s t a b l i s h e d C a n a d i a n M i n i n g D i s t r i c t s

This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward- looking information and statements refmect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give assurance to the correctness of such information and statements. These forward-looking information and statements can generally be identifjed by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use terminology such as “targets”, “believes”, “expects”, “aims”, “assumes”, “intends”, “plans”, “seeks”, “will”, “may”, “anticipates”, “would”, “could”, “continues”, “estimate”, “milestone” or other words of similar meaning and similar expressions or the negatives thereof. By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to difger materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company’s actual fjnancial condition or results of operations could difger materially from that or those described herein as anticipated, believed, estimated or expected. Any forward-looking information or statements in this presentation speak only as at the date of this presentation. Except under the applicable securities laws, the Company does not intend, and expressly disclaims any obligation or undertaking, to publicly update, correct or revise any of the information included in this presentation, including forward looking information and statements, whether to refmect changes in the Company’s expectations with regard thereto or as a result of new information, future events, changes in conditions or circumstances or otherwise on which any statement in this presentation is based. Given the aforementioned uncertainties, prospective investors are cautioned not to place undue reliance on any of these forward-looking statements. The technical content of this presentation has been reviewed and approved by James Pickell, P .Geo, a consultant to the Company, and a Qualifjed Person as defjned by National Instrument 43-101.

F O R W A R D L O O K I N G I N F O R M A T I O N

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C A L L I N E X I N V E S TO R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

Callinan Mines, founded by Jack Callinan in 1927, has had a major presence in the Flin Flon mining district in Manitoba, Canada 777 VMS Mine, discovered on Callinan claims, commences production and royalty payments begin Callinan Mines splits into two entities: Callinan Royalties and Callinex, which holds the exploration portfolio today Callinex renews exploration focus on VMS deposits Callinex acquires threee zinc rich VMS deposits in Eastern Canada

1927 2011

OUR HISTORY

2014 2016 2004

To drive shareholder value by discovering and developing economic zinc and copper rich VMS deposits

OUR MISSION

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

INSTITUTIONS 19.6% INSIDERS & CLOSE ASSOCIATES

34%

RETAIL INVESTORS 46%

OWNERSHIP BREAKDOWN SHARE PERFORMANCE

CORPORATE OVERVIEW

• Resource Capital Funds
• Europacific Gold Fund
• Plethoria Precious Metals Fund
• Fieldhouse Capital Management

Closing Price

(7/03/2016)

$0.39

52-Week Range

$0.23 - $0.54

Average Daily Volume (3 - mo)

145,081

RECENT TRADING

Shares Outstanding

61.0M

Options Outstanding

4.4M

($0.33 VWAP)

Warrants Outstanding

6.3M

($0.45 VWAP)

CAPITAL STRUCTURE

Market Cap

25.6M

Debt

$0

Working Capital

$5.1M

As of 5/27/2016

ENTERPRISE VALUE

TSX-V: CNX I OTCQX: CLLXF

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

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C A L L I N E X I N V E S TO R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

Mike Muzylowski

Chairman

Max Porterfjeld

CEO, President and Director

Jordan Butler

Corporate development

Rebecca Moriarty

Chief financial officer

A renowned geologist and member of the Canadian Mining Hall of Fame with over 50 years

• f experience which has included

the discovery and development

• f 16 mineral deposits through to

production Over ten years of experience in natural resources and fjnancial markets, previously with Brazil Resources Inc., Uranium Energy

• Corp. and US Global Investors

Over six years of experience in the resource sector specializing in identifying and evaluating mineral

• properties. Previously, Financial

Analyst with Americas Bullion Royalty Corp. and Till Capital A Chartered Accountant with over 14 years of experience related to the mining industry, previously with PwC providing corporate fjnance, strategic planning and regulatory compliance services

MANAGEMENT TEAM

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

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C A L L I N E X I N V E S TO R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

directors And advisory board

DIRECTORS ADVISORY BOARD

Keith Minty

An experienced mining engineer currently serving as the Senior VP

• f Business Development at Stope Capital Advisors and a Director of

Auryn Resources Inc., previously the Chief Operating Offjcer of Thani Emirates Resource Holdings Ltd.

Carlo Civelli, Chairman

Since founding Clarion Finanz AG in 1980, Mr. Civelli has been instrumental in funding early stage investments, nearly a dozen of which have developed into billion dollar market cap companies

Michael Louie

A Principal in D+H Group LLP with 25 years of accounting experience, specifjcally working on behalf of First Nations organizations and specializing within the Canadian mining sector

Jason Dunning

Over 20 years experience in base and precious metal exploration, currently serving as the Manager of Nystar’s Mining Group, one of the world’s largest zinc producers, and previously a Project Geologist with Hudbay focused on the Flin Flon area

Nico Civelli

An independent fjnancial advisor specializing in natural resources, and the VP of Finance for Pacifjc LNG which recently sold to Oil Search Ltd. for USD $900 million

Steve Swatton

Over 28 years of experience in both technical and senior managerial experience, previously the Global Head of Business Development for BHP Billiton’s Exploration Division

Peter Schriber

A Co-Founder of PI Financial, Mr. Schriber is an independent fjnancial consultant with an extensive history in merchant and commercial banking, specializing in corporate fjnance

Jayant Bhandari

A Senior Analyst of Anarcho Capital, distinguished speaker and published author, Mr. Bhandari advises institutional investors about opportunities in the natural resources sector on a global scale

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

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C A L L I N E X I N V E S TO R P R E S E N TAT I O N T S X - V: C N X | O T C Q X : C L L X F

Technical Team

Canadian Mining Hall of Fame Inductee and PDAC Developer of the Year award PDAC Bill Dennis Prospector of the Year award

Mike Muzylowski

Chairman of the Board

Involved in the discovery of 12 VMS mines in the Flin Flon district of Manitoba, Canada. His discoveries include the Trout Lake mine, which operated from 1982-2012. Mr. Muzylowski received the 1988 PDAC Developer of the Year award and is a 2011 inductee into the Canadian Mining Hall of Fame.

James Pickell

Consulting Geologist

Over 40 years of VMS exploration experience globally. Notable discoveries include the Callinan North, Konuto Lake and 777

• re bodies within the Flin Flon district of Manitoba, Canada.
• Mr. Pickell is a recipient of the PDAC Bill Dennis Prospector of

the Year Award for his role in the discovery of the 777 Mine.

Alan Vowles

Consulting Geophysicist

Over 35 years of VMS exploration experience within the North America and an integral member of the HudBay team that discovered the Lalor deposit in Saskatchewan.

• Mr. Vowles is a recipient of the PDAC Bill Dennis Prospector
• f the Year Award for his role in the discovery of the Lalor

Mine.

JJ O’Donnell

Consulting Geologist

Over 25 years of VMS exploration experience within Canada while holding senior positions with Callinex, HudBay, Selwyn Chihong Mining and Granges. Mr. O’Donnell has been instrumental in the exploration and development of the world-class Howard’s Pass Zinc Project located in the Yukon, Canada.

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

TROUT MINE +22 MT LALOR MINE +25 MT 777 MINE +21 MT

• Current supply / demand defjcit expected to increase

further based on reduced mine supply

• Consumption is expected to increase by +3 million

tonnes over the next fjve years

• Zinc inventories have dropped by over 50% since

2013 and are nearing critically low levels

• Wood Mackenzie estimates a price of $1.60 is

necessary to incentivize suffjcient new production growth

zinc market overview

Base Case Zinc Supply Base Case + Probable Projects Zinc Supply Zinc Demand Forecast Historic Zinc Price Zinc Price Forecast

Source: Wood Mackenzie

20,000 2.00 1.80 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 Tonnes 000’ US$/Ib 18,000 16,000 14,000 12,000 10,000 8,000 4,000 2,000 2010 2011 2012 2013 2014 2015 2016E 2017E 2018E 2019E 2020E 2021E 2022E 6,000

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

magma mass of sulphide deposits sedimentation seawater seepage sea fmoor heat Ag Au Cu Zn

HIGH GRADE

Polymetallic deposits containing zinc, copper, lead, gold and silver

FORMATION

Deposits

• ccur

where mineral rich, superheated water is brought to the surface by volcanic activity

DISTRICT SCALE

Most VMS deposits occur in clusters that defjne major mining districts, such as Flin Flon and Bathurst

PREVALENCE

350 deposits and major VMS occurrences in Canada; Flin Flon and Bathurst Camps are the top two jurisdictions in the nation1

Source: 1 Mineral Deposits of Canada, Volcanogenic Massive Sulphide Deposits

VOLCANOGENIC MASSIVE SULPHIDE DEPOSITS

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

N

Strategic Properties Near Hudbay Minerals Flin Flon Operations

Flin Flon Project Flin Flon Pine Bay Project 777 Mine Processing Facility

LEGEND

Deposit Historic Mine Pine Bay Shaft Emerging Callinex Discovery Callinex Claims Callinex Mining Lease HudBay Claims Road Power Rail

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

T S X - V: C N X | O T C Q X : C L L X F

MINE DEPLETION

The Flin Flon processing facility has excess capacity and requires additional ore within four years

• 777 Mine to be exhausted by 2020
• Reed Lake Mine to be exhausted 2019

EXPLORATION FOCUS

Strategy to outsource exploration through junior partners; few juniors actively exploring in Manitoba

REED LAKE MINE

Hudbay acquired the small high grade VMS deposit in exchange for a 30% carried interest to the vendor. Reed Lake

• re is hauled more than 100 km to the Flin Flon processing

facility

HUDBAY'S MANITOBA OPERATIONS

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

• Strategic location 16km to HudBay’s Flin Flon

processing facilities, which has less than four years of supply remaining

• Fast-track

potential, vertical shaft and underground workings permitted for mining activities

• Two emerging discoveries, both zones open

for expansion along strike and at depth

• Previously controlled by majors, individual

claim areas held by Placer Dome, Inmet, Newmont and HudBay

pine bay project

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Pine Bay Project Flin Flon Project

N

Deposit Mine Mine Shaft Processing Facility Emerging Callinex Discovery Callinex Claims Callinex Mining Lease HudBay Claims Road Power Rail

LEGEND

C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

• Three known deposits including the Pine Bay

deposit with a historic vertical shaft and signifjcant underground workings

• Previously explored by Placer Dome, who had a

mandate to identify a 30 Mt VMS deposit

• Covers one of the largest felsic volcanic packages

in the belt, which are the primary host rocks for VMS deposits

• New discovery from drill testing target that both

Placer Dome and Inmet attempted to drill, but did not reach the target area

PINE BAY area

POTENTIAL FOR A LARGE VMS DEPOSIT

N

+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +

Deposit Historic Mine Mine Shaft Emerging Callinex Discovery Callinex Claims Callinex Mining Lease HudBay Claims Alteration Zone + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Baker Patton Felsic Complex Road Power

LEGEND

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

Exploration Milestones

Pine Bay East Discovery 2014 2016 Historic data compilation on land package Extensive ground geophysical program and confjrmation drilling Technical team is strengthened Sourdough Bay Discovery

Acquired 100%

• wnership of Pine

Bay and Flin Flon Projects

2015

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

• Development-stage VMS project located in

Newfoundland, Canada

• 14.1Mt Inferred mineral resource grading 6.2%

Zn Eq. including 1.9% Zn, 1.1 g/t Au, 17.1 g/t Ag and 0.42% Cu*

• Resource starts at surface and extends to a

vertical depth of 350m

• Advanced permitting stage with resource

contained within current Mining Lease

• High-grade mineralization open at depth with

assays including 4.67m of 15.1% Zn, 4.4 g/t Au, 57.9 g/t Ag and 0.36% down-plunge from resource*

*See News Release dated May 16, 2016

Point leamington project

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C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

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Duck Pond Buchans

• PT. LEAMINGTON

PROJECT Bishop’s Falls Grand Falls Windsor Badger South Brook

LEGEND

Processing Facility

Mine Road Power Trail Port City

N

Quebec

• Development-stage VMS project located in the

world-class Bathurst Camp of New Brunswick, Canada

• Near-surface Indicated mineral resource of 7.8Mt

grading 3.2% Zn Eq. including 2.7% Zn, 0.6% Pb and 18.3 g/t Ag plus an Inferred mineral resource

• f 1.2 Mt grading 3.2% Zn Eq including 2.7% Zn,

0.5% Pb and 18.0 g/t Ag*

• Located 90km from operating processing facility
• Deposit is open along strike to the south where

increased grades have been encountered

• Preliminary testing has indicated amenability to

Dense Media Separation, which is designed to increase the average grade of rock processed

*See News Release dated May 18, 2016

nash creek project

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LEGEND

Processing Facility Mine Road Power Rail Port City

SUPERJACK NASH CREEK Caribou Mine Brunswick Mine #12 Brunswick Mine #6 Heath Steele Mine Bathurst

90 KM

N C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

• Exploration-stage VMS project located in the

world-class Bathurst Camp of New Brunswick, Canada

• 3.2Mt Inferred mineral resource grading 3.0%

Zn, 0.8% Pb, 29.5 g/t Ag and 0.23% Cu*

• Located 15km from the ‘supergiant’ Brunswick

#12 Mine, recently one of the largest underground zinc mines in the world

• A Zone is wide-open at depth of 440m, the

deepest hole drilled (NP11-39) intersected 2.6m of 15.0% Zn, 1.4% Pb, 32.5 g/t Ag and 0.27% Cu*

• Two zones (“A” and “C” zones) host higher-

grade near-surface mineralization with untested targets along strike

*See News Release dated May 18, 2016

superjack project

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LEGEND

Processing Facility Mine Road Power Rail Port City

SUPERJACK NASH CREEK Caribou Mine Brunswick Mine #12 Brunswick Mine #6 Heath Steele Mine Bathurst

50 KM

C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

Total Mineral Resources

C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

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Inferred Mineral Resources* Indicated Mineral Resources*

Point Leamington Nash Creek Superjack Pine Bay

*See news releases dated May 16 and 18, 2016 for additional details

Project Cut-off (Zn. Eq) Tonnes Zn (%) Pb (%) Ag (g/t) Au (g/t) Cu (%)

Nash 2.0 7,807,900 2.72 0.55 18.26 n/a n/a Total 7,807,900 2.72 0.55 18.26 n/a n/a

Project Cut-off (Zn. Eq) Tonnes Zn (%) Pb (%) Ag (g/t) Au (g/t) Cu (%)

Point Leamington 4.0 14,093,000 1.86 0.02 17.12 1.07 0.42 Superjack 1.5 3,211,015 3.01 0.78 29.45 n/a 0.27 Nash 2.0 1,211,700 2.66 0.52 18.00 n/a n/a Total 18,515,715 2.11 0.18 19.32 0.81 0.37

INVESTMENT SUMMARY

PROJECT PORTFOLIO STRONG TEAM TIGHT CAPITAL STRUCTURE

Strong portfolio of zinc-rich assets in Canadian mining jurisdictions Near-term exploration upside with ongoing work programs in Manitoba World-class technical team that has been involved in the last three major discoveries near Flin Flon, MB Well-funded with over $5M in working capital and a strong institutional shareholder base

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T S X - V: C N X | O T C Q X : C L L X F

C A L L I N E X c o r p o r a t e P R E S E N T A T I O N

T S X - V: C N X | O T C Q X : C L L X F

604.605.0885 info@callinex.ca www.callinex.ca Corporate Head Offjce 1555 - 555 West Hastings Street Vancouver, BC Canada V6B 4N4 President and CEO: Max Porterfjeld Corporate Counsel: Northwest Law Group Auditors: Davidson & Company LLP