Noront Resources : Q1 2022 Corporate Presentation

CORPORATE PRESENTATION Q1 2022

Noront Resources Ltd.

CAUTIONARY NOTE REGARDING

FORWARD-LOOKING INFORMATION

This presentation includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Examples of such forward-looking information includes information regarding the timing, extent and success of exploration, development and mining activities, conclusions of economic evaluations (including those contained in the Technical Report, as defined herein), project financing requirements, project permitting, planned infrastructure for the Ring of Fire region and the estimated and anticipated economic impact of Noront's mineral projects. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; risks related to government and environmental regulation, actual results of current exploration and development activities, changes in project parameters as plans continue to be refined; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects the Company; stock market volatility; competition; risk factors disclosed in the Company's most recent Management's Discussion and Analysis and Annual Information Form, available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Noront's ability to control or predict.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual results and future events could differ materially from those reliant on forward-looking information.

All of the forward-looking information given in this presentation is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Noront disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this presentation.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing or other relevant issues.

Ryan Weston, M.Sc.,MBA, P.Geo, VP, Exploration, Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI-43-101"), has reviewed and approved the technical information contained in this presentation.

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NORTH AMERICA'S NEXT MINING DISTRICT

Timeline

2007

-

2008

					2015
	2012		2014		-
					2016

2017

-

2018

	2019		2020		2021		2022

Discovered

Eagle's

Nest

Ni-Cu-PGE

deposit

----

Blackbird Chromite discovery

Positive	Ontario	Amended
Feasibility	government	"Terms of
Study on	committed	Reference"
Eagle's Nest	C$1bn to Ring	approved by
	of Fire	Ontario
	infrastructure	Government
	development	----

Acquired

Cliffs

Chromite properties financed by Franco- Nevada loan

----

Acquired

75% interest

in

MacDonald Mines RoF properties

Province

announced

funding

for

community-

led

all-season

access roads

----

Community-

led EAs for

N-S road

started

Ferrochrome	Province,
site finalized	Webequie and
in Sault Ste.	Marten Falls
Marie	signed
Northern
----	Road Link
Road and	agreement
----
mine
Environmental	COVID-19
Assessments	shutdown of
advanced	site
followed by	----
construction
Wyloo Metals
in 2023 and
production in	becomes
2026	cornerstone
	investor

ToR issued for	Wyloo Noront
Marten Falls	transaction to
and Webequie	close end of
road projects	Q1

----

Draft

Agreement for

the Regional Assessment

----

Wyloo makes

offer for all outstanding shares of Noront

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CORPORATE INFORMATION

Overview		Ring of Fire Location
Listing	TSX-V
Symbol	NOT
January 31, 2021	$1.07
52 Week High	$1.11
52 Week Low	$0.23
Market Capitalization	~ $598.2 M
Shares O/S	~ 560.8 M
Shares F/D	~ 592.6 M
Long Term Debt1,2	US$ 39.7 M
Short Term Debt	CAD$ 17.8 M
Major Shareholders
Wyloo Metals	37.17%
Baosteel	4.05%
BHP	3.86%

1.	Franco-Nevada Loan: US$25 M secured by assets of wholly owned subsidiary plus accrued interest
2.	Wyloo Metals Loan (unsecured)	4

NORONT MANAGEMENT

Management

Alan Coutts	30 years of domestic and international experience in mine
President & CEO	development and operations with Falconbridge, Noranda and most
	recently Managing Director, Australasia with Xstrata Nickel.
Stephen Flewelling	35 years of experience in all aspects of exploration, feasibility
Chief Development Officer	planning, project development, construction, and operations. Former
	SVP, Projects & Exploration at Glencore/Xstrata.
Greg Rieveley	A finance executive with over 20 years in the mining and retail
Chief Financial Officer	industries. Former VP, Business Development at Harry Winston
	Diamond Corporation.
Glenn Nolan	A former Chief of the Missanabie Cree and President of PDAC (2012-
VP, Government Affairs	14), Glenn has spent his career involved in the areas of resource
	development, Indigenous affairs and government issues.
Ryan Weston	Over 20 years experience in exploration for both base and precious
VP, Exploration	metals internationally. Previously, Ryan served as Senior Geologist
	with Cliffs Natural Resources and Chief Geologist at Carlisle Goldfields.
Mark Baker	A professional engineer with more than 30 years of experience in
VP, Projects	mining and consulting engineering. His consulting work has included
	projects for major nickel mining companies.

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