Canstar Resources Inc. · TSXV:ROX
Canstar Resources — Investor Presentation (June 2026)
35 slides from Canstar Resources's investor presentation, June 2026
Slide 1: High-Grade VMS Discovery Opportunity
High-Grade VMS Discovery Opportunity Discovery Drilling Begins June 2026 TSXV: ROX canstarresources.com
Slide 2: Disclaimer & Qualified Person Statements
Disclaimer & Qualified Person Statements Disclaimer Factors that could cause actual results to differ materially from such forward-looking information This presentation contains a review of the Company’s projects in Canada and Sweden. Viewers are include, but are not limited to failure to identify m
Slide 3: Canstar Resources: Focused VMS Exploration in Tier 1 Jurisdictions
Canstar Resources: Focused VMS Exploration in Tier 1 Jurisdictions • Canstar Resources (TSXV: ROX) is a focused VMS exploration company with a portfolio of projects in Tier 1 mining jurisdictions • Flagship Buchans-Mary March VMS Project (145.6 km² consolidated) lies within the historic Buchans Mini
Slide 4: Highlights: Drilling for Discovery
Highlights: Drilling for Discovery • Drills start turning June 2026: program at flagship Buchans-Mary March, funded under the VMSC JV • 1999 Discovery hole: 9.63 m @ 4.2 g/t Au, 122 g/t Ag, 10.1% Zn, 1.8% Pb, 0.64% Cu • The Buchans camp next door produced 16.2 Mt at some of the highest VMS grades on
Slide 5: Investment Thesis: Why Invest Now
Investment Thesis: Why Invest Now • Drilling at flagship Buchans-Mary March starts June 2026, funded under the VMSC earn-in JV (up to $11.5M, non-dilutive) • High-grade polymetallic exposure: Cu–Zn–Pb–Au–Ag from one deposit style • Flagship in the Buchans camp — among the highest- grade VMS district
Slide 6: Why VMS: High-Grade + Multi-Metal Leverage
Why VMS: High-Grade + Multi-Metal Leverage • Polymetallic: Cu, Zn, Pb + Au, Ag from a single system; critical and precious metals together • High grade, lower capex: historic Buchans ore carried more than 20% contained metal, worth over $900 per tonne • Clustered deposits: one discovery typically le
Slide 7: Why Newfoundland: Tier-1 Jurisdiction + Proven Endowment
Why Newfoundland: Tier-1 Jurisdiction + Proven Endowment • Top-10 global mining jurisdiction (Fraser Institute) with a 145.6 km² Buchans & Mary modern regulatory regime and strong community March Projects: VMS Copper, Zinc, Lead, Gold, Silver support • Low-cost operating environment with road, power
Slide 8: Company Overview: District-Scale, High-Grade Focus
Company Overview: District-Scale, High-Grade Focus • Focused on high-grade polymetallic VMS discovery • Flagship: Buchans-Mary March (145.6 km² consolidated) in the Buchans camp; 2026 drilling funded under the VMSC JV • Buchans project (16 km²): deep, district-scale targets on the historic mine tren
Slide 9: Mary March Project: Buchans-Scale Potential, Underexplored
122.5 km² Mary March Project: Buchans-Scale Potential, Underexplored Located ~20 km east of the historic Buchans Mine in the • 1999 Discovery hole intersected same VMS belt — but outside the main camp, in 9.63m grading 4.2 g/t Au, 122 g/t Ag, underexplored ground 10.1% Zn, 1.8% Pb, and 0.64% Cu — am
Slide 10: Proof of System: High-Grade Polymetallic VMS Confirmed at Mary March
Proof of System: High-Grade Polymetallic VMS Confirmed at Mary March • 1999 Discovery hole: 9.63 m of massive sulphide — 0.64% Cu, 1.8% Pb, 10.1% Zn, 122 g/t Ag, 4.2 g/t Au • 2019: new high-grade copper-gold massive sulphide occurrence at surface, ~1.8 km along strike from the 1999 discovery hole •
Slide 11: Discovery Model: Why Mary March Could Be Large
Discovery Model: Why Mary March Could Be Large • Mineralization demonstrably offset by faulting — a dislocated, multi-lens system • Transported, multi-lens architecture is the Buchans signature (five historic orebodies) • Discovery zone open; shallower targets (~240 m) than the deep Buchans camp • F
Slide 12: Competitive Edge: World-Class Expertise + AI-Driven Targeting
Competitive Edge: World-Class Expertise + AI-Driven Targeting • Dr. Harold Gibson — global VMS authority — leads JV exploration • Dr. Rodney Allen — former Chief Geologist, Boliden AB — guides Skellefte • Integrated 3D geology, geophysics and geochemistry targeting • Terra AI partnership (Khosla Ven
Slide 13: The VMSC JV: Up to $11.5M, Non-Dilutive, for Buchans-Mary March
The VMSC JV: Up to $11.5M, Non-Dilutive, for Buchans-Mary March • Staged earn-in: VMSC may invest $11.5M at the project level to earn a 60% JV interest; a further $500K option lifts that to 65% (~$12.0M total) — non-dilutive to Canstar’s share capital • Phase 1: $1.5M for 10% plus a $500K option for
Slide 14: Near-Term Catalysts: Next 6–12 Months
Near-Term Catalysts: Next 6–12 Months • June 2026: drilling at Buchans-Mary March; contract awarded • H2 2026: news flow from Buchans-Mary March drilling • Skellefte: closing upon TSXV acceptance, then Phase 1 till geochemistry (~2,150 samples, summer 2026) • Ongoing: Churchill-funded exploration at
Slide 15: Portfolio Optionality: Multiple Ways to Win
Portfolio Optionality: Multiple Ways to Win • Buchans-Mary March: flagship discovery drilling, JV- funded, drills start turning • Buchans — deep, district-scale conductors on the historic mine trend (untested) • Skellefte — district-scale entry into a second world- class belt • Golden Baie upside —
Slide 16: Skellefte: District-Scale Entry into a World-Class VMS Belt
Skellefte: District-Scale Entry into a World-Class VMS Belt • Acquiring a 100% interest in ~68,000 ha (~680 km²), northern Skellefte district, Sweden • ~31,000 ha granted (three permits) + ~37,000 ha applied for; closing subject to TSXV acceptance • >200 Mt massive sulphide + >70 Mt Au±Te ore mined
Slide 17: Capital Structure: Clean and Aligned
Capital Structure: Clean and Aligned • Shares outstanding: 185.8M*; +15.0M issuable to LithOps at Skellefte closing • Options: 13.5M | Warrants: 29.1M | Fully diluted: ~228.3M* • Share price: C$0.045 | Market cap: ~C$8.4M (June 10, 2026 close) • Ownership: Eric Sprott ~15% | Management, board & insi
Slide 18: Why Canstar: Drilling for Discovery
Why Canstar: Drilling for Discovery • High-grade polymetallic discovery potential; drills start turning at Buchans-Mary March, June 2026 • Proven district: 16.2 Mt mined at Buchans; 1999 discovery hole 9.63 m @ 4.2 g/t Au, 10.1% Zn • Non-dilutive: VMSC earn-in of up to $11.5M funds exploration at th
Slide 19: Drilling Into Discovery in Two World-Class VMS Belts
Drilling Into Discovery in Two World-Class VMS Belts Investor Presentation — June 2026 info@canstarresources.com 220 Bay Street, Suite 550 Toronto, Ontario TSXV: ROX M5J 2W4 canstarresources.com 19
Slide 20: Appendix: Technical Detail, Partners & Governance
APPENDIX TECHNICAL DETAIL, PARTNERS & GOVERNANCE 20
Slide 21: Why VMS: The Deposit Model
Why VMS: The Deposit Model • Massive sulphide lens over a stockwork feeder zone: the classic VMS architecture • Alteration pipes and exhalite horizons give drill programs clear vectors toward the lens • Clustered by nature: VMS deposits form in camps, which is why districts keep producing discoverie
Slide 22: 16 km² Buchans Project: Tier 1 Grades, Re-opened with Modern Tools
16 km² Buchans Project: Tier 1 Clementine Historical Resource (1976): 360k Buchans Mine (1927-1984): 5 Grades, Re-opened with Modern tonnes at 4.9% Zn, 2.6% Pb, 0.3% Cu, 10.3 g/t Ag orebodies generally regarded as amongst highest grade of all time Tools • Buchans is one of the richest VMS districts
Slide 23: Buchans VMS System May Extend Deeper Than Previously Understood
Buchans VMS System May Extend Deeper Than Previously Understood: Multiple Conductor Anomalies Remain Untested • Multiple deep SkyTEM conductor anomalies remain largely untested beneath the historic Buchans mining camp, previously unknown to the original operators. • Drill hole 2799 (1979) intersecte
Slide 24: Buchans: Exploring the Downdip Extension of the Historic Mine
Buchans: Exploring the Downdip Extension of the Historic Mine Lucky Strike & Rothermere Canstar Exploration Licenses Deposits: High-grade Zn+Pb+Cu assays in historical drilling of past producing 5.6 Mt - 1.6% Cu, 8.6% Pb, Buchans VMS deposits dipping toward Canstar Licenses 18.4% Zn, 112 g/t Ag & 1.
Slide 25: Buchans: The LM7 Anomaly Remains Untested
Buchans: The LM7 Anomaly Remains Untested DH 2799 SkyTEM conductor anomalies untested (unknown by original owner/operator); historical drilling mostly shallow DH 2799 only drill hole to apparently 200m intersect LM7 anomaly DH 2799 log notes 100m of “intense alteration” at the top of LM7 between 690
Slide 26: Mary March: Technical Overview
Mary March: Technical Overview Proven geological setting – Located in Buchans Roberts Arm Belt, ~20 km east of Buchans Mine – one of world’s 122.5 km² richest critical metals mines Under-explored – historical exploration undertaken without significant investment in geophysics; approx. 21,616 metres
Slide 27: Mary March: An Alteration Zone on the Scale of the Buchans District
Mary March: An Alteration Zone on the Scale of the Buchans District Large Mary March Alteration Zone Coincident with Strong Geochemistry Anomalies, Highest Grade Drill Intercepts Outside of Historically Mined Buchans District 27
Slide 28: Mary March: High-Grade Occurrences Already Identified
Mary March: High-Grade Occurrences Already Identified In 2019 Canstar discovered a new high-grade copper-gold massive Two continuous channels cut through the debris flow and six grab samples of individual clasts were taken sulphide occurrence at surface, approximately 1.8 km along strike of for assa
Slide 29: Golden Baie — Optioned to Churchill Resources
Golden Baie — Optioned to Churchill Resources • 90+ km of strike along a major crustal-scale fault system; structurally similar to the 5Moz Valentine Lake Gold Mine and Beaver Brook Antimony Mine • 100+ bedrock samples >10 g/t Au, including grades up to 4,485 g/t Au and 74.4% Sb, across a 30+ km lon
Slide 30: Macro Tailwinds: Structural Undersupply + Strategic Demand + Resource Nationalism
Macro Tailwinds: Structural Undersupply + Strategic Demand + Resource Nationalism Critical Minerals Policies Adopted / Global Nonferrous Exploration Global Critical Minerals Demand Announced (2019 – 2024) Budget (USD Billions) vs Supply (kt) 50 25 60,000 45 40 20 35 45,000 30 15 25 20 30,000 15 10 1
Slide 31: Northern Skellefte: Same Prospective Stratigraphy, A Fraction of the Exploration
Northern Skellefte: Same Prospective Stratigraphy, A Fraction of the Exploration • Northern belt: same Skellefte Group felsic volcanics that host the known deposits ~680 km² • Discovery gap = exploration effectiveness, not geology • Thicker till cover defeated boulder-prospecting and early geophysic
Slide 32: Skellefte Phase 1 (Summer 2026): Systematic Targeting Under Cover
Skellefte Phase 1 (Summer 2026): Systematic Targeting Under Cover, Guided by the District’s Foremost Expert • Led by Dr. Rodney Allen — former Chief Geologist, Boliden AB; 20+ years in the district Summer 2026 • ~2,150 till samples on ~400 m grid + ~280 on Additional Claims • LiDAR-guided sampling;
Slide 33: Management Team: Builders, Explorers, Dealmakers
Management Team: Builders, Explorers, Dealmakers 33
Slide 34: Board of Directors: Independent and Experienced
Board of Directors: Independent and Experienced 34
Slide 35: Advisory Network: Geoscience, Capital, Strategy
Advisory Network: Geoscience, Capital, Strategy 35
Canstar Resources — Investor Presentation (June 2026) on 6ix