Slide 1: Maude Lake Ni-Cu-Co-PGM
Maude Lake Ni-Cu-Co-PGM High-grade massive sulfide project XTM – TSXV | Project Presentation Q1 2022 1
Slide 2: Maude Lake Project Overview
Maude Lake Project Overview • High-grade, high-tenor, Ni-Cu-Co-PGM surface showing over 80 m in strike length with values up to 6.23% Ni • Similar high-tenor Ni sulfides encountered in historic down dip diamond drilling • No meaningful exploration conducted since 2004 • All exploration work done pri
Slide 3: Regional Location
Regional Location • Located along the north shore of Lake Superior, 160 km NE of Thunder Bay • 10 km north of the Trans-Canada Hwy • Located in the Thunder Bay Mining District in the Pays Plat Lake Area and the Lower Aguasabon Lake Area • Property ~14 km2 XTM:TSXV 3
Slide 4: Regional Geology
Regional Geology • Located in the southern limb of the Schreiber Greenstone Belt • Straddles the boundary between the mafic/felsic volcanics to the south and the Crossman Lake pluton to the north • Numerous Archean aged gabbroic-dioritic intrusions emplaced into the greenstone belt • Winston Lake Mi
Slide 5: Regional Magnetics
Regional Magnetics • Airborne magnetics survey flown by the MNDM in 1999 (200 m flight lines) • Several large and extensive fault structures identified • EM data available but needs to be processed from the original MNDM data • Numerous untested magnetic anomalies within the greenstone belt MCR rela
Slide 6: Local Geology
Local Geology • Hosted in a gabbro-diorite body • The heat associated with the at the contact within the granite has remobilized and Crossman Lake pluton reconstituted the sulfides into a thin massive sulfide zone at the • The sulfide zone at surface contact (1-3 m) as well as into consists of semi-
Slide 7: Geophysics
Geophysics • The regional TFM image • No modern ground-based EM suggests that there is potential survey completed for a much large mafic intrusion • Interpreted intrusion measures to the south. 1.5 km by 5.0 km of which the • Hole VL-12 drilled by Minnova in 1.5 km by 1.5 km up-dip section 1992, int
Slide 8: History
History • 1956: New Athona – drilling, 4 holes for 1,693 ft, no assays. Holes collared in a diorite-gabbro and towards the base there was evidence of granite intruding into the gabbro body. Any mineralization mentioned was at the gabbro-granite contact • 1965-1970: Zenmac – drilling, 17 holes for 61
Slide 9: History (continued)
History (continued) • 2001-2004: Novawest Resources – mapping, sampling, and 11 drill holes for 1,502 m. Novawest geologists suggested that mineralization is associated with a pyroxenite that may have intruded the granites • Field sampling returned very high, high tenor Ni-Cu-Co values from the main
Slide 10: History (continued)
History (continued) • In 2004, Novawest completed 11 diamond dill holes totaling 4,926 ft. The best results were as stated below • Mineralized intersections have very high Ni tenors ranging from 4-7% Ni and is consistent with the grab samples collected from the main sulfide showing. • Average Ni Ten
Slide 11: Local Geology
Local Geology • Historic mapping by Zenmac in 1965 • Box is the location of the historic Ni-Cu-Co-PGM showing • No property wide modern ground- based EM survey has been completed • Poor correlation between various field programs regarding the geology Next • In 2002, work by Novawest began to identif
Slide 12: Trench Map
Trench Map XTM:TSXV Diseminated and stringer sulphide Massive sulphide Aplite 5 415 800N es Feldspar porphyry ME Granite 1 Gabbro lll Melagabbro 1477 700 E Figure 5 Nicopor Trench Novawest Resources Inc. Nickel Royale Project ‘Schreiber, Ontario 420/14 - NAD 83 10 20 30m —aaaa z] modified from P. Fi
Slide 13: Ni-Cu-Co-PGM Showing
Ni-Cu-Co-PGM Showing XTM:TSXV 13
Slide 14: Field Visit
Field Visit • In the summer of 2019, XTM completed field examination of the main sulfide showing on the Maude Lake Property • Attempts were made to channel sample across the main sulfide zone • In some locations extreme weathering and oxidation of the bedrock material prevented any fresh material fr
Slide 15: Channel Sample Results
Channel Sample Results XTM:TSXV 15
Slide 16: Main Sulfide Showing
Main Sulfide Showing XTM:TSXV 16
Slide 17: Main Sulfide Showing – Channel Samples
Main Sulfide Showing – Channel Samples XTM:TSXV 17
Slide 18: Maude Lake Project Summary
Maude Lake Project Summary • Extremely high-grade, high-tenor Ni-Cu-Co-PGM surface showing confirmed by recent sampling • Historic drilling has confirmed similar disseminated high-tenor Ni mineralization along the base of a south dipping mafic intrusion • Untested BHEM and surface conductors based o
Slide 19: Work Proposal
Work Proposal Geology • Determine the geology of the mafic/ultramafic intrusion • Assess the distribution of mafic intrusions along the granite/volcanic contact • Map the contact relationship between intrusion, granite and volcanics Prospecting • Further prospecting along the granite/volcanic contac
Slide 20: Forward-Looking Statements
Forward-Looking Statements Certain information contained in this presentation, includes information and statements which may contain words such as "could", "plans", "should", "anticipates", "expect", "believe", "will", and similar expressions and statements relating to matters that are not historica
Slide 21: Mitigating Risk. Multiplying Opportunities.
Mitigating Risk. Scott McLean HBSc., P.Geo. Multiplying CEO & Co-founder smclean@transitionmetalscorp.com Opportunities. 9C – 1351 Kelly Lake Road Sudbury ON P3E 5P5 Telephone: 705-669-0590 Q1 2022 21