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YELLOWKNIFE CITY GOLD PROJECT

The Last Undeveloped

High-Grade Gold Camp in Canada

February 2015

This presentation may contain “forward-looking statements” which reflect the Company’s current

expectations regarding the future results of operations, performance and achievements of the

Company, including potential property acquisitions, the timing, content and results of work programs,

geological interpretations and potential mineral discoveries, and negotiation and closing of future

financings. The statements reflect the current beliefs of the management of the Company and are

based on currently available information. Accordingly, these statements are subject to known and

unknown risks, uncertainties and other factors which could cause the actual results, performance, or

achievements of the Company to differ materially from those expressed in, or implied by, these

statements.

In addition, investors are cautioned that this presentation may contain information about mineral

properties adjacent to or near the Company’s properties and in which the Company has no right or

interest. Mineral deposits on such adjacent or near properties are not indicative of the mineral

deposits, if any, which may be found on the Company’s properties.

All scientific or technical information contained on this presentation has been reviewed and approved

by Dr. Tom Setterfield, P.Geo., the VP Exploration of TerraX Minerals Inc., who is a "qualified person" as

defined in National Instrument 43-101 of the Canadian Securities Administrators.

2

Forward Looking Information

Investment Highlights

3

• Control 94.9 km2 of the Yellowknife gold belt

• one of the six major high-grade gold camps in Canada – and the least explored.

• “In the shadow of the head frame” immediately north of the world-class Giant and Con Gold Mines

• 14.2 Moz Gold produced over 60 years @ average grade of 16 g/t Au

• Excellent Infrastructure - road access to Yellowknife (5 km to south) supply centre for NWT exploration

• new hydro-power dam (2013), airport, skilled trades people and local support

• Multiple (>20) gold-bearing structures (shears) identified:

• Barney Shear (extension of shear that hosted Con and Giant) - TerraX drills 22.4 m @ 6.35 g/t Au

• Crestaurum – drill intercept of 5.0 m @ 62.9 g/t Au

• Shear 20 – drill intercept of 21 m at 2.97 g/t Au

• New zones with high grade gold surface samples:

• VSB vein – 547 g/t , 346 g/t, 75.8 g/t and 34.9 g/t Au in grabs

• Shear 17 – 141 g/t Au, , 445 g/t Ag, 3.01% Cu, 6.32% Mo

• Milner Lake SW - 712 g/t , 326 g/t, 103 g/t Au in grabs

• Crestaurum NE – 878 g/t, 157.5 g/t, 24.7 g/t Au in grabs

• Attractive share structure (only 54.1M shares issued):

• 18.4% ownership by management and staff

• 9.2 % acquired by Osisko Gold Royalties (TSX: OR) with acquisition of Virginia Mines Inc.

• Management experienced in mine discovery, development and operation

Company OverviewIssued Shares: 54.1 mln

Options: Total : 4.5 mln

2,050,000 @

360,000 @

100,000 @

295,000 @

1,050,000 @

500,000 @

100,000@

$0.17 (Jun. 28, 2018)

$0.28 (Aug. 29, 2018)

$0.61 (Sept 30, 2016)

$0.45 (Dec 23, 2016)

$0.75 (Mar 14, 2019)

$0.61 (May 5, 2019)

$0.38 (Jan 29, 2018)

Warrants: Total: 10.0 mln

3,146,343 @

62,500 @

1,188,180 @

105,556 @

820,000@

650,000@

4,018,738 @

$0.30 (May. 8, 2016)

$0.30 (May. 30,2016)

$0.50 (Dec 20, 2015)

$0.50 (Dec 27, 2015)

$0.51 (Feb 12, 2016)

$0.57 (Feb 28, 2016)

$0.50 (Sept 30, 2017)

Fully Diluted Shares: 68.6 mln

Basic Market Cap (C$0.35/share) $21.6 mln

Held by Management: 18.4%

Held by Osisko Gold Royalties: 9.2%

Working Capital $2.45 Million

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Jan 31, 2015

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Joseph Campbell, P. Geo – President, CEO and Director

• 34 years of experience: Exploration Manager for advanced projects; Mine Development Project

Manager; Chief Mine Geologist on a variety of deposit types, open pits, U/G

• Project Manager for 7 years from discovery to pre-feasibility on Meliadine gold project,

Nunavut

⁻ Introduced Meliadine to Agnico Eagle (AEM) in 2007; wrote Endowment Study for AEM

⁻ Completed pre-feasibility level scoping study in 2008 with AEM engineers in Val D’Or;

⁻ AEM acquired ≈9% of Comaplex ($46.9M in cash) in 2008;

⁻ AEM acquired balance of Comaplex for $650 Million in shares in 2010;

⁻ One of Agnico Eagle’s largest projects in terms of reserves and resources:

P&P Reserve of 2.8 Moz @ 7.3 g/t Au with Indicated Resource of 3.1 Moz @ 5.0 g/t Au

⁻ Agnico’s “fastest growing project with multiple high-grade zones” – inferred resource at

2.7 Moz @7.2 g/t Au prior to 2014 drilling

Dr. Thomas Setterfield, P. Geo – VP Exploration and Director

• 34 years of international experience: Ph.D from Cambridge University (1991)

• Expert in IOCG, Epithermal Au and VMS deposit types

Stuart Rogers, CFO and Director

• 25+ years as director and senior officer of public companies on TSX-V, TSX and NASDAQ

Paul Reynolds, P. Geo – Director

• 28 years of experience in resource exploration and public company management

Accomplished Management,

all founding members of TerraX

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6

Yellowknife - One of Six High Grade Gold Camps in Canada

More Than 300M* Oz Gold have been mined from ArcheanGold deposits in Canada, with the vast majority from High Grade Gold Camps

Yellowknife is the most northerly and least explored of these camps

* Gold Ounces in Camps include known historical production, reserves and drill indicated resources from public

records. Totals should be considered approximate with an error range sufficient for comparison purposes. Other

large Archean gold areas include Detour/Sunday Lake; Rice Lake; Chibougamau; Meliadine; and Meadowbank

Regional Geology: Comparison to Timmins

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TerraX has 100% Ownership of the Northern Extension of the Yellowknife Gold Belt, host to the Con and Giant Gold Mines

o Con Mine 1938 to 20036.1 million oz @ 16.1 g/t Au

o Giant Mine 1945 to 2004 8.1 million oz @ 16.0 g/t Au

• TerraX’s YCGP contains Over 15 km of Strike Length on Main Yellowknife Gold Break

• TerraX controls Entire Prospective Geology on Yellowknife Gold Belt north of:

• Unique Situation for a Junior Mining Company to Control a Major Gold Camp in Canada

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Yellowknife CityGold Project

A PROPERTY PORTFOLIO CONTROLLING THE

YELLOWKNIFE GOLD BELT

NORTHBELT

PROPERTY

NORTHBELT

PROPERTY

GOODWIN

CLAIMS

GOODWIN

CLAIMS

WALSH

LAKE

PROPERTY

WALSH

LAKE

PROPERTY

Northbelt – Feb 2013

3,562 hectares (100% Ownership

Mining Leases - Bankruptcy sale)

Goodwin – Jun 2013

251 hectares (Purchase 100%)

Walsh Lake – Oct 2013

2,695 hectares (Option for 100%)

Ryan Lake Staking

1,447 hectares (100% Ownership)

U-Breccia – Mar 2014

1,394 hectares (Purchase 100%)

+ Staking in-filling blocks

141 hectares

Total – 94.9 km2 (36.1 sq. miles)

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UBRECCIA

CLAIMS

UBRECCIA

CLAIMS

RYAN LAKE

CLAIMS

RYAN LAKE

CLAIMS

• Year Round Access from Yellowknife

• 8 km by road to Yellowknife Airport -site of TerraX core facility

• Blue Fish Hydro Dam on Property –expandable for Mine Development

• Skilled available workforce

• Local service providers

Unmatched Accessibility Excellent Infrastructure

• Population - 20,000

• Founded on 2 Gold Mines

• Transportation hub for NWT

• Highway Access to the Rest of Canada

• Daily jet service to major cities

City of Yellowknife:

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TerraX Core Facility

Benefits of Historical Exploration$M Saved, Accelerated Project Timeline

Previous core storage Giant Mine Core Yard~200 YCG Drill Holes Recovered

• TerraX has compiled +450 historical drill

logs (1938-96) – data was recovered by

NWT Geoscience Office from Giant Mine

• Core from ~200 drill holes recovered by

TerraX from Giant core yard, logging and

sampling by TerraX included 5.0m @

62.90g/t Au and 20.86m @ 3.79g/t Au

• >250 drill collar locations have been

identified and surveyed by TerraX – we

have accurately located the ‘good’ holes

• TerraX has identified and sampled

dozens of gold mineralized trenches

• Project moved years ahead of schedule,

and savings of $M

YCGP TARGET RICH

1212

DDH 3.41m @ 3.42 DDH 3.41m @ 3.42 g/tg/t Au,Au,69.3 69.3 g/tg/t Ag, 3.67% Ag, 3.67% PbPb, 3.17% Zn, 3.17% Zn

MispickelMispickel ChannelsChannels

6.0m @ 7.29 6.0m @ 7.29 g/tg/t Au Au

SamexSamex ChannelsChannels

4.0m @ 6.20 4.0m @ 6.20 g/tg/t Au Au

DDH 22.42m @ 6.35 DDH 22.42m @ 6.35 g/tg/t AuAu

DDH 5.00m @ 69.20 DDH 5.00m @ 69.20 g/tg/t AuAu

Pinto SamplePinto Sample

49.3 49.3 g/tg/t Au Au

CrestaurumCrestaurum

BarneyBarney

Homer Lake VMSHomer Lake VMS

Milner SWMilner SW712, 326, 103 712, 326, 103 g/tg/t Au Au

Ryan Lake Ryan Lake 141 141 g/tg/t Au Au 445 445 g/tg/t AgAg3.01% Cu 3.01% Cu

Ryan Lake Ryan Lake 6.32% Mo 6.32% Mo

VSB VeinVSB Vein547, 346, 78 547, 346, 78 g/tg/t Au Au

AES SampleAES Sample12.85 12.85 g/tg/t Au Au

AES SampleAES Sample21.7 21.7 g/tg/t Au Au

Crestaurum SWCrestaurum SW40.2 40.2 g/tg/t Au Au

Barney SouthBarney South44.3 44.3 g/tg/t Au Au

CrestaurumCrestaurum NE NE

878, 157.5, 25.7 878, 157.5, 25.7 g/tg/t Au Au

Sam Otto SampleSam Otto Sample

72.6 72.6 g/tg/t Au Au

DDH 21.12mDDH 21.12m@ 2.97 @ 2.97 g/tg/t AuAu

TerraX Assay Results 2013 to 2014

Barney SouthBarney South7.48 7.48 g/tg/t Au Au

Shear 20Shear 20

AE

S S

hea

r

Ba

rne

y S

he

ar

Cresta

urum

Shear

2014 Drill Areas

2013/2014 Sampling

FOCUS ON THE

‘CORE GOLD AREA’

• Approximately 1800 surface samples have

been taken by TerraX in 2013 & 2014

o Close to 20% >1g/t Au, up to 1205g/t Au

• Other metals in various locations

o Highs up to >500g/t Ag

o Multi percent Pb, Zn, Cu, Mo

• Exploration in 2013 and 2014 defined a 5km

x 3km “Core Area” of gold mineralization

• Core Area contains:

o Barney Shear (extension of Con & Giant)

o Crestaurum Deposit

o Shear 20 as well as several other high

grade veins/shear zones that have

assays as high as 549, 712 and 878 g/tAu

• Collectively, the shears and veins could be

indicative of gold bearing vein sets common

to large mineralized systems

• 2015 Exploration Drilling will be concentrated

in this area

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Shear 20

21.0m @ 2.97 g/t

14

Barney Shear

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Crestaurum – TerraX 2013 & 2014 Core Results

North-Ext Shoot

Drill Hole FROM (m) TO (m) Width (m) Au g/t

DDH85-148 70.00 75.00 5.00 4.43

DDH85-150 53.00 48.00 5.00 62.90

DDH85-151 86.00 88.00 2.00 6.55

DDH85-163 71.00 75.00 4.00 3.00

TNB14-022 49.28 58.28 9.00 4.69

TNB14-023 53.00 57.40 4.40 2.18

North Shoot

Drill Hole FROM (m) TO (m) Width (m) Au g/t

DDH85-118 91.13 98.00 6.87 13.07

DDH85-121 98.00 100.00 2.00 5.92

DDH85-128 77.78 79.00 1.22 7.36

DDH85-134 99.00 102.00 3.00 13.45

DDH85-136 62.00 69.00 7.00 2.96

DDH85-157 146.00 148.00 2.00 67.69

DDH85-166 126.00 132.00 6.00 11.96

DDH85-167 96.00 101.00 5.00 5.47

DDH85-175 143.00 145.00 2.00 10.46

TNB14-019 49.00 51.85 2.85 33.60

TNB14-021 50.98 57.20 6.22 4.34

Central Shoot

Drill HoleFROM

(m) TO (m) Width (m) Au g/t

DDH85-177 57.00 59.00 2.00 10.04

DDH85-181 67.00 70.00 3.00 12.79

DDH85-185 61.00 63.00 2.00 2.96

DDH85-186 80.00 82.00 2.00 4.18

DDH85-187 81.00 86.00 5.00 20.66

South Shoot

Drill HoleFROM

(m) TO (m) Width (m) Au g/t

DDH85-171 60.00 63.00 3.00 3.35

DDH85-173 54.00 59.00 5.00 12.43

DDH85-174 61.00 66.00 5.00 8.03

DDH85-180 61.00 63.00 2.00 3.85

DDH85-190 66.00 67.29 1.29 5.96

TNB14-006 55.00 56.47 1.47 8.73

TNB14-011 94.31 104.33 10.02 4.17

TNB14-015 70.40 73.47 3.07 13.84

TNB14-016 73.00 76.60 3.60 4.48

TNB14-018 36.00 38.33 2.33 3.21

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Crestaurum Zone – 2014 Drill Program

South Ore

Shoot

Central

Ore Shoot

North Ore

Shoot

North Ext

Ore Shoot

• 2014 Program to twin 1945-47 drilling and

in-fill drilling on known high grade shoots

o Twin Drill Holes in 2014 incl. TNB14-011

10.02m @ 4.17 g/t Au

• In-fill Drill Holes in 2014 incl. TNB14-019

2.85m @ 33.60 g/t Au

• 2015 Winter Program is designed to test

dip and strike extension of high grade

shoots and discovery of new high grade

shoots

100m 200m 400m0m

BLOCK MODEL GRADES

LEGEND

Areas of 2014Drill Holes

Areas of 2015Drill Holes

400m Strike Extension

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• DRILL PERMIT received March 2014 for 5-7 years, entire YCGP area

• Private Placement October 2014 raised $2.77M CDN for 2015 drilling

• Drill start Jan. 19th, 2015 - Focusing on Quick Exploration Successo Barney Shear Corridor

o Crestaurum

o Other Targets Coming on Stream (see next slides)

• Compile Field Mapping & Prospecting - multiple new HIGH GRADE drill

targets discovered (see next slides)

• Environmental Baseline Studies commenced, water, soil analyses,

archaeology, bathymetry – preparing for future project development

• LiDAR Survey (accurate cm scale topography) flown 2014 on all properties

• Re-logging Historical Drill Core Ongoing – Over 20,000 Meters of Core

remains to be studied with potential deposit indications

• Data Compilation and 3D Modeling continueso Accurate down-hole directional surveys completed on historical and 2014 drilling

o Down-hole Televiewer and geophysics completed on historical drilling and 2014 Barney DDH

o Initiated acQuire ‘cloud’ database for instantaneous data collection and 3-D viewing of DDH

Moving Forward – 2015

TOP PRIORITY TARGETS for 43-101 MINERAL RESOURCES

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• AES Shear Zone – >5 kilometer gold structure with multi-gram surface

samples up to 21.7 g/t Au

• Shear 20 Zone – TerraX assays 21.0m @ 2.97 g/t Au in DDH NB94-01a

• Crestaurum Southwest – 4.0m @ 24.26 g/t Au in trench chip sampling

& 40.2 g/t Au in surface grab samples

• Crestaurum NorthWest – Surface samples of 878, 157.5 & 24.7 g/t Au

• VSB vein – Surface samples of 547, 346, 75.8, 34.9 g/t Au

• Milner Lake Southwest Vein – Surface samples of 712, 326 & 103 g/t

Au

• Jed Vein/Shear 19 – 1.60m @ 16.85 g/t Au - 2 km north of Crestaurum

• Southern Northbelt – Extension of Lynx, GBK, C-Zone mines (Giant) –

2014 surface reconnaissance sample returned 7.34 g/t Au

• Ryan Lake gold-molybdenum-copper-silver porphyry style

mineralization – up to 141 g/t Au, 445 g/t Ag, 6.32% Mo, 3.01% Cu in

surface samples and 4.0m @ 7.73 g/t Au, 0.13% Mo & 2.0m @ 7.44 g/t

Au, 0.24% Cu in porphyry from DDH NB96-24

Developing Targets to be Drilled in Future

1

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• Walsh Lake Targets

o Sam Otto Zone - 15.85m @ 2.9 g/t Au in DDH W89-1

o Sam North Zone – 3.65m @ 6.11 g/t Au in DDH W95-12

o Dave’s Pond – 4.75m @ 5.61 g/t Au in DDH W95-29

o Mispickel Zone – 6.0m @ 7.29 g/t Au - TerraX 2013 chip sampling

o Samex Zone – 4.0m @ 6.20 g/t Au – TerraX 2013 chip sampling

o Sam Otto North – 72.6 g/t Au TerraX 2014 surface sample

o Eastern Walsh Lake - 11.1 g/t Au TerraX 2014 surface sample

• Homer Lake VMS – up to 47 g/t Au, 528 g/t Ag, >20.0% Pb, 9.44% Zn

in surface samples and 3.42m @ 3.41 g/t Au, 69.3 g/t Ag, 3.67% Pb,

3.17% Zn in massive sulphides from DDH TNB14-001, mineralized

trends followed on surface for 1.5km strike length

Developing Targets to be Drilled in Future

2

Summary

• Strong & Experienced Management Team

o EXCELLENT RECORD OF DELIVERING ON PROMISES

o PROJECT MOVED FORWARD QUICKLY, EFFICIENTLY($), DOING THE RIGHT WORK

• Tight share structure with low fixed burn rate

• Terrax CONTROLS A MAJOR CANADIAN GOLD CAMP – Unique opportunity for a junior

mining company

• Highly prospective property on trend with two world class

+5Moz historic gold mines

• Target Rich Property with numerous HIGH GRADE showings

and drill intercepts

• Readily accessible property, close to

infrastructure WITHIN A MINING CITY

• Property wide DRILL PERMITS in place

for 5-7 Years – time to define a discovery

• In less than 2 years since acquiring property TerraX

is ON TRACK FOR MAJOR DISCOVERY

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1 (604) 689-1749 (Vancouver)

1 (613) 843-8109 (Ottawa)

E-Mail: info@terraxminerals.com

www.terraxminerals.com

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WINTER DRILL SITE

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CRESTAURUM

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REPAIRS ON CRESTAURUM

ROAD – DEC 2014