Rockcliff Metals : 2020 Factsheet

CSE: RCLF

Becoming Canada's next copper producer

Becoming a copper producer in the largest VMS district in the world

Snow Lake, Manitoba,

Canada

High-Grade VMS Deposits | Excellent Jurisdiction | Low Capital Intensity Access to +1,000tpd Mill | Highly Experienced Team

Established Private Equity Backing | Blue Sky Opportunities

Snow Lake,

Manitoba, Canada

UPSIDE THROUGH GROWTH OPPORTUNITIES

• Updated Mineral Resource Estimates: Successful drill programs added significant increase in metal grades.
• Metallurgical Test Results: High recoveries to clean copper concentrate.
• Ore Sorting Test Results: Potential to upgrade head grade by 1.4x
• Preliminary Economic Assessments planned for completion in the Q3 2020.
• Permitting activities for an Advanced Exploration Permit and the Notice of Alteration for the Bucko Mill.
• High Grade Nickel-PGEDiscovery: Discovery hole of 2.40 m grading 3.82% NiEq.

HUB AND SPOKE

DEVELOPMENT STRATEGY

• Multiple advanced stage deposits within hauling distance of leased +1,000 tpd mill and tailings facility
• Low capital requirements with near surface deposits allowing quick ramp access, no mill construction required
• Infrastructure designed for maximum reusability

NEAR-TERM

PRODUCTION

• Production decision expected on the first project by 1H 2021
• Targeting initial production of +15ktpa of copper equivalent metal ("CuEq")
• Current drill program focused on increasing confidence in the Rail, Tower and Talbot resources

SUSTAINABLE GROWTH AS

• A MID-TIER PRODUCER

• 70,000+ metre drill program planned for 2020 targeting major resource growth and discovery
• Significant pipeline of properties being advanced towards production decisions
• Intent to finance subsequent mines out of cash flow from first operation

www.rockcliffmetals.com | CSE: RCLF

HUB AND SPOKE DEVELOPMENT STRATEGY*

RAIL

Current Indicated Resource:

1.2Mt @ 3.5% CuEq.

Current Inferred Resource:

0.7Mt @ 4.1% CuEq.

Conceptual Target Resource:

3.0mt

• Q1 2020: Advanced drill plan and Updated Mineral Resource
• Q3 2020: Preliminary Economic Assessment
• Q4 2020: Potential production decision

TALBOT

Current Indicated Resource:

2.2Mt @ 4.4% CuEq.

Current Inferred Resource:

2.4Mt @ 3.0% CuEq.

Conceptual Target Resource:

6.0mt

• Q4 2019: Fulfill 51% earn-in
• Q1 2020: Updated Mineral Resource
• Q2 2020: Finalize joint venture agreement with Hudbay

BUCKO VMS MILL

Capacity: +1,000 tpd

• Q3 2019: Environmental testing completed
• Q2 2020: Complete metallurgical optimization studies for mill changes
• Q3 2020: Establish cost of conversion

TOWER

Current Indicated Resource:

1.0Mt @ 5.74% CuEq.

Current Inferred Resource:

0.4Mt @ 4.29% CuEq.

Conceptual Target Resource:

3.0mt

• Q1 2020: Complete infill drilling program and Updated Mineral Resource
• Q3 2020: Preliminary Economic Assessment
• Q4 2020: Potential production decision

*Executing the Hub & Spoke Development Strategy is conditional upon the economic viability and technical feasibility of the projects being established.

MANAGEMENT

CAPITAL STRUCTURE

Alistair Ross: President & CEO, Director

Kenneth Lapierre: VP Exploration & Director

Chris Stackhouse: CFO

Mike Romaniuk: VP Projects

Donald Christie: Chairman, Director

Mark Sawyer: Director

Petra Decher: Independent Director

Gordon Graham: Independent Director

Ticker

52-Week Range

Basic Shares Outstanding

Options (WAVG strike price of ~C$0.15)

Warrants (WAVG strike price of ~C$0.21)

• expiring by May 2, 2021

Fully Diluted Shares Outstanding

Market capitalization (August 14, 2020) @$0.09/share

CSE:RCLF

C$0.04 - C$0.10

307.6M

11.4M

0.4M

319.4M

$29.2M

QP

Ken Lapierre, P.Geo., VP Exploration & Director, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this document.

Disclaimer: This document includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this document, other than statements of historical fact, are to be considered forward-looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results or developments may differ materially from those in the forward-looking statements.

Reference to Target Resource relates to a potential quantity and grade that is conceptual in nature and cannot be relied upon. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

One or both owners of CHF Capital Markets and Red Cloud own shares in this Company.

For more information, please contact:

2231 Long Lake Road, Suite 2,	Alistair Ross - President & CEO
Sudbury, ON,	E:[e-mail]
P3E 5H3	T: [phone]

Rockcliff Metals Corp

@RockcliffMetals Rockcliff Metals Corporation

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www.rockcliffmetals.com | CSE: RCLF