Mirasol Resources : Corporate Presentation - Nov/Dec 2020

TSX-V: MRZ OTCPK: MRZLFNOV/DEC 2020

MIRASOL RESOURCES

Cautionary Statement

This presentation contains certain statements that may be deemed "forward-looking statements". All statements in this presentation, other than statements of historical fact, that address future operations, resource potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as may be required by applicable law.

This presentation may use the terms pit constrained mineral resources estimate and indicated resource. The Company advises that these terms are recognized by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"). Investors are cautioned not to assume that any part of or all, of the mineral occurrences in these categories will ever be converted into reserves.

All material project information in this presentation has been previously disclosed to the public by Mirasol.

Chris Ford, CEng FIMMM, a senior consultant for the Company, and a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this presentation.

Corporate Highlights

* As at Sept 30,2020

Board of Directors

Patrick Evans

Chair and Interim CEO

Diane Nicolson Director

•  Appointed to the board in 2016

  •  B.Sc. in Geology and a PhD in Economic Geology

•  Over 20 years of senior management experience in various public mining companies

•  Over than 20 years of experience in mineral exploration especially in Latin America

Nick DeMare DirectorJohn Tognetti Director

•  Chartered Professional Accountant

  •  Over 30 years of experience in the finance industry

•  Over 30 years of accounting, management and securities regulatory compliance experience

•  Leading financier of the global resource sector

Management Team

Patrick Evans

Tim Heenan

Chair and Interim CEO

Regional Manager, South America

•  Appointed to the board in 2016

•  Over 20 years of senior management experience in various public mining companies

•  Over 30 years of exploration experience in Central and South America

•  Involved in several high-profile projects including the famous Cerro Negro Mining District in Argentina

Jonathan Rosset

VP Corporate Development

Mathew Lee

•  Charted Financial Analyst

  Chief Financial Officer

•  Over 8 years of experience in mineral royalty companies and corporate development

•  Charted Professional Accountant

•  Over 10 years of experience with public and private companies including mining and financial services

Share Structure and Treasury

Shares	Shares Fully	Market
Diluted	Capitalization
59 Million	~CAD$22M

Cash

Shares

•  Insiders holding >27%

•  Share buy-back program initiated

6

Mission and Strategy

Discover and develop high-quality gold, silver and copper projects in Chile and Argentina

STRATEGY

Self-funded Projects

•  Higher grade prospects

•  Lower operating costs

  &

  Partner-funded Projects

  •  Large scale projects

  •  Higher exploration costs

•  Lower exploration risk

•  Higher exploration risk

PILLARS

OF SUPPORT

Technical Expertise

CapitalStakeholder Relationships

Project Portfolio at a Glance

Project Portfolio Status

2020/21: More than 15,000 m of drilling planned on 7 projects

2020

2021

Inca Gold	 Rock Chip and channel sampling  Permit application in progress	 1,500 m drilling
Sascha Marcelina	 Water sampling permit application in progress	 2,600 m drilling
Virginia	 Geophysics, trenching  2,500 m drilling	 Upcoming exploration campaign will be initiated based on 2020 drilling results
Altazor	 Community consultation for social license	 2,000 m drilling planned*
Gorbea	 Activities on pause due to COVID-19 pandemic work restrictions	 Minimum 2,000 m contractual drilling
Coronación	 Permitting and community consultation	 Minimum 3,000 m committed drilling*
Nord	 Option Agreement executed	 Six-month fieldwork program  An initial scout drill program
Rubi	 Drill program permitting	 2,000 m committed drilling

* Subject to ongoing community engagement process; the process has been impacted by COVID-19 pandemic

Flagship Project- Inca Gold, Chile

Project		Located on the Paleocene belt of northern Chile
Overview		16,300 ha of mining concessions
	Intermediate sulfidation epithermal (ISE) gold-silver vein prospect
	100 kilometers north of Copiapo
	17 kilometers east of the village of Inca de Oro
	Elevation of 2,000 to 3,000 meters ASL
	Year-round access and near infrastructure
Ownership		Controlled through an option agreement with Newmont Corporation
Self-funded		1,500 m drill program planned for Q1 2021
Exploration
Geology		Prominent epithermal vein field on surface that has not received any
systematic exploration or drilling
	Five prospects identified to date with various mineralization styles and
commodities

Five prospects identified

Drill permit application

Comprehensive surface program initiated to refine drill targets

1,500 m drilling budgeted

Work Mirasol is currently working on

a

Inca Gold - Exploration Program

Mirasol currently focuses its exploration and drilling activities at the Sandra prospect.

About Sandra Target Area

•  Hosts robust wide outcropping epithermal veins

•  Five subparallel trends recognized over 2.5 x 4 sq. km area

•  Sheeted veins in zones up to 20 m wide

•  2,400 ha of additional claims staked, which cover the potential southern extension of the veins defined at Sandra

Five prospects identified to date with various mineralization styles:

	Rincon		Sandra
	Guerda		Vania
	Inca North

Inca Gold - Exploration Program

Recent surface survey completed at Sandra prospect:

•  Three targets are prioritized for drilling among the seven zones of veining and anomalous geochemistry outlined within the prospect

  Q1 2021 Drill Program Targets Overview

•  Lomo Ballena: cumulative vein, veinlets and stockwork reach up to 15 m in width, with individual vein exposures of over 3 m wide

•  Veta Escuela: has some of the best epithermal textures and shows clear evidence of the multi-pulse character of the local system, coincident with strong geochemical anomalies in Au and Ag

•  Veta Valle: hosts one of the highest assay results to date, with an intersection of 0.36m returning grades of 0.43 g/t Au and 156 g/t Ag

Flagship Project - Virginia, Argentina

Project Overview

•  Santa Cruz, Argentina

•  74,429 ha of granted mining concessions

•  Low sulfidation epithermal (LSE) silver vein prospect

•  Approx. 100 km south of Newmont's Cerro Negro Mine

  Partner

•  Silver Sands Resources Corp.

  Exploration Activities

•  Q4 2020: geophysics and trenching program 2,500 m diamond drilling program

  Option to Purchase Agreement Highlights

•  Executed in May 2020 with a three-year term

•  US$6M exploration expenditure to earn 100% project ownership

•  Mirasol as the exploration program operator

•  Mirasol to participate with 20% shareholding and 3% NSR royalty

Geology

[1] The Qualified Persons responsible for this amended Technical Report were commissioned by Mirasol Resources Ltd. to review all geologic, geochemical, geophysical, surface trenching, diamond drill core sampling and metallurgical recovery data pertaining to the Virginia Project for the purpose of completing a Mineral Resource estimate in accordance with the guidelines of the Canadian Institute of Mining and Metallurgy (CIMM). For calculating conceptual pits, a silver price of US$20 per ounce was used. Sensitivity analyses by the Qualified Persons indicate that the Mineral Resources are not particularly sensitive to operating costs or silver price fluctuations. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

TSX-V: MRZOTCPK: MRZLF

Refer to Amended NI 43 -101 technical report filed February 29, 2016

•  Seven silver deposits outlined by over 23,000 m of diamond drilling

•  Approx. 7.6 km of outcropping mineralized epithermal veins

•  NI 43-101 within conceptual pit resource [1]

  •  Indicated: 11.9 Million oz contained within 1.197 Mt at 310 g/t Ag

  •  Inferred: 3.1 Million oz contained within 0.460 Mt at 207 g/t Ag

•  Potential project expansion by high-grade silver assay results returned from the recently defined target area

Virginia - Exploration Program

US$1M exploration expenditure committed by Silver Sands for the 2020 exploration program

2020 Exploration Program

•  70 line-km IP geophysics program completed to refine drill targets

•  2530 m trenching program completed to define new targets for future drilling

•  2,500 m drilling program started for resource expansion by targeting at new veins or extensions / gaps in existing vein structures

TSX.V: MRZ OTCPK: MRZLF

For Further Information:

Patrick Evans, Chair & Interim CEO Jonathan Rosset, VP Corp. Development

Tel: [phone]

Email:[e-mail] Website:www.mirasolresources.com

Coronación Project, Chile

Appendix

Other Project Descriptions

Mirasol Funded

Exploration

Sascha Marcelina - Overview

Project		Santa Cruz, Argentina
Overview
	Low sulfidation epithermal (LSE) gold-silver property
	30,600 ha
	Low altitude > 800 meters ASL
	100 km south of Cerro Negro mine
Ownership		24,900 ha owned by Mirasol, 5,700 ha in an option to purchase
agreement with a private mining company
Self-funded		2,600 m drill program planned for Q1 2021
Exploration
Geology		Large-scale, zoned alteration system characteristic of a large LSE gold
+ silver system
	Five mineralized vein and silicified breccia trends have been recognized
	Three targets (Estancia, Pellegrini, and Igloo) are drill ready
Five trends have
been recognized

Drilling permit granted

2,600 m drilling budgeted

Geophysical and geochemical studies completed to refine drill targets

Work Mirasol is currently working on

Water permit application in progress

a

Sascha Marcelina - Exploration Program

Drilling Plan for Q1 2021

Estancia 8 holes 1,375m

Pellegrini 4 holes 775m

Igloo 3 holes 450m

Recent Rock Chip Assays

(red dashed area)

Total samples from outcrop / subcrop / float = 422

All Samples Max Value

Average Value

Au 27.7 g/t 0.25 g/tAg 121 g/t 2.46 g/t

AuEq60 29.72 g/t 0.29 g/t

Gold Assays Distribution

Top Au Assays

89 Samples

36 Samples

16 Samples

% of Samples 21.2%

Au g/t >0.1 g/t

8.5% 3.8%

>0.5 g/t >1.0 g/t

Gold Equivalent = Gold + (Silver/60)

19

Partner Funded

Exploration

Option to Joint VentureOption to Purchase

Jan 2019: Gorbea - Newcrest

51%

65%

75%

85%

>US$ 19M Exploration Expenditures	PEA	FS	NSR royalty option	MRZ 15%
US$600k option payments ($100k paid)	$650k cash	MRZ 25%

2 years

6.5 years

Nov 2017: Altazor - Newcrest

1 year

51%

65%

75%

80%

>US$ 10M Exploration Expenditures	PEA	FS	+ fund	MRZ 20%
US$600k Option Payments (paid)	$650k cash	$650k	MRZ 25%

6 years

2 years

2 years

Sept 2019: Coronación - FQM

80%

3,000m + Geophysics 10,000m of Drilling and Delivery of a PFS	MRZ 20%
Committed US$875k Option Payments	Negotiated $ to 100%

6 years

Oct 2020: Rubi - MDF

80%

2,000m of Drilling Committed and Delivery of a PFS	MRZ 20%
>US$ 8M Exploration Expenditures	Negotiated $ to 100%

8 years

May 2020: Virginia - Silver Sands Res.

19.9% of the S/O after US$6M in expenditures Expl. Expenditures - Y1: US$1M| Y2: US$2M | Y3: US$3M

3 years

Royalty: 3% NSR or 2% NSR and US$2M

Sept 2020: Nord - Encantada SpA

US$500k Expl. Expenditures over 2 years

US$3M in Option Payments

Signing: US$50k (paid)| Month 14: US$200k |

Mth 24: US$400k | Mth 36: US$600k | Mth 48: US$1.75M

4 years

Royalty: 2% NSR or 1.5% NSR and US$3M

21

Gorbea - Overview

Project Overview

•  Mio-Pliocene age mineral belt

•  70 kms north of Salares Norte, Chile

•  32,000 ha

•  High sulfidation epithermal (HSE) gold property

  Partner

•  Newcrest International Pty Ltd. (NCM)

  Exploration Activities

  Option Agreement HighlightsGeology

•  Minimum 2,000 m contractual drilling program for H1 2021

•  Executed in January 2019

•  Minimum US$19M exploration expenditure for 51% project ownership

•  Delivery of a positive Feasibility Study or US$100M in additional expenditures for 75% project ownership

•  US$9.2M spent and 5,426 m diamond drilling completed by NCM

•  Option period extended to January 25, 2021

•  A large land package containing nine projects in the Gorbea Belt

•  Large outcropping gold systems were identified at the Atlas and Titan projects

•  Atlas Project: potential project expansion indicated by the geochemical footprint which is larger than the area covered by the drilling

Gorbea - Exploration Results

The 2019/2020 drill program mainly focused on the Atlas project, and the best results from this season include:

ATL-DDH-001A: 0.52 g/t Au and 6.81 g/t Ag over 164m (from 372m), including:

•  1.07 g/t Au and 7.18 g/t Ag over 14m (from 372m), and

•  1.31 g/t Au and 7.82 g/t Ag over 16.5m (from 402.5m)

ATL-DDH-010: 0.54 g/t Au and 2.65 g/t Ag over 129m (from 363m), including:

•  1.4 g/t Au and 2.08 g/t Ag over 17m (from 364m), also including:

  •  2.09 g/t Au and 3.00 g/t Ag over 10m (from 371m)

•  1.84 g/t Au and 3.57 g/t Ag over 3m (from 425m)

Altazor

* Subject to ongoing community engagement process; the process has been impacted by COVID-19 pandemic

Project OverviewPartner

Exploration Activities

Option Agreement HighlightsGeology

•  Mio-Pliocene age mineral belt, northern Chile

•  33,300 ha of 100% MRZ owned grant mining concessions

•  High sulfidation epithermal (HSE) gold property

•  60 km via paved highway south from the village of Socaire

•  Near a well-maintained gravel road connecting northern Chile and Argentina and a 20 km south of 345 kV powerlines

•  Newcrest International Pty Ltd. (NCM)

•  2,000 m drilling program planned for Q1 2021*

•  Executed in November 2017

•  Minimum US$10M exploration expenditure for 51% project ownership

•  Delivery of a positive Feasibility Study or US$100M in additional expenditures for 75% project ownership

•  Shown to be a district-scale, zoned alteration system

•  Preserved at a level that could conceal HSE gold deposits beneath a "barren" steam-heated cap rocks and post-mineral cover

•  Geological features identified that are similar to other multi million-ounce discoveries in the Mio-Pliocene mineral belt

•  Two main target areas have been defined for drilling

Coronación

* Subject to ongoing community engagement process; the process has been impacted by COVID-19 pandemic

Work Mirasol is currently working on

Project OverviewPartner

Exploration Activities

Option Agreement HighlightsGeology

•  Mio-Pliocene age mineral belt, northern Chile

•  1,200 ha of 100% MRZ owned granted mining concessions

•  Porphyry and high sulfidation epithermal (HSE) copper/gold project

•  85 km SW of Socaire and 240 km ESE from Antofagasta

•  Accessible to the main road to the Socompa International pass

•  First Quantum Minerals (FQM)

•  3,000 m drilling program for Q1/Q2 2021*

•  Executed in September 2019

•  Annual cash payments totalling US$ 875,000

•  Minimum 10,000 m of drilling

•  Delivery of a NI 43-101 Prefeasibility Study Report for 80% project ownership

•  Two main target areas are identified

•  Potential presence of a porphyry/breccia system

•  A large 600 by 800 m Cu-Mo geochemical anomaly on the western side within the overall 3 by 2.5 km alteration halo is defined

Permits application

3,000 m drilling

Reconnaissance program identified two key target areasFQM internal drill program approval

a

Rubi

Project Overview

•  Pliocene age mineral belt, northern Chile

•  7,500 ha of 100% MRZ owned mining concessions

•  Porphyry copper project

•  Lies at relatively low elevation (1,900 - 2,100 m)

•  Year-round access via well maintained gravel roadways

•  Adjacent townships with a trained mining workforce, nearby roads, power, water grid and an operating mill and smelter

  Partner

•  Mine Discovery Fund Pty Ltd. (MDF)

  Exploration Activities

  Option Agreement HighlightsGeology

•  2,000 m drilling program for Q2 2021

•  Executed in October 2020

•  2,000 m drilling commitment

•  Delivery of a Prefeasibility Study Report for 80% project ownership

•  Minimum US$ 8M exploration expenditure

•  Mirasol acting as the operator

•  Two large-scale targets (the Lithocap and Zafiro) are identified with potential to host a large-scale porphyry deposit

Nord

Project Overview

•  Eocene-Oligocene Copper Porphyry belt of northern Chile

•  1,967 ha of 100% MRZ owned mining concessions

•  Polymetallic (Cu, Zn, Pb, Ag, Au) /Epithermal/Porphyry property

•  Altitude of 3,200 to 3,900 meters ASL

  Partner

•  Encantada, an affiliate of Mineria Activa

  Exploration Activities

•  Initial 6-month fieldwork program planned

•  Scout drilling program expected in Q2 2021

  Option Agreement HighlightsGeology

•  Executed in September 2020, four-year term

•  Annual cash payments totalling US$ 3,000,000 for 100% project ownership

•  US$ 500k exploration expenditures over two years

•  2% NSR retained by Mirasol

•  Potential for vein type polymetallic (Cu, Zn, Pb, Ag, Au) epithermal mineralization and porphyry style mineralization

TSX.V: MRZ OTCPK: MRZLF

For Further Information:

Patrick Evans, Chair & Interim CEO Jonathan Rosset, VP Corp. Development

Tel: [phone]

Email:[e-mail] Website:www.mirasolresources.com

Coronación Project, Chile