2019 09 19 - PDM PPT FINAL · 3$//$',80 21(0,1,1* ,1& 76; 9 3'0 )5$ 1

PALLADIUM ONE MINING INC. TSX-V:PDM FRA: 7N11 1

CAPITALIZING ON OPPORTUNITY

Corporate Presentation – September 19, 2019

TSX-V: PDM FRA: 7N11 OTC: NKORFPalladiumoneinc.com


This presentation contains certain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Palladium One Mining Inc’s (the “Company”) expectations and projections. The TSXV has neither approved nor disapproved the information contained in this presentation. Except for statements of historical fact relating to the Company, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", “could”, "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

Data and technical information in this document is extracted from the NI 43-101 technical report entitled ‘Technical Report for the Kaukua Deposit, Läntinen Koillismaa Project, Finland “ prepared for Palladium One Mining Inc.’, written by Mining Plus, dated September 2019 and historical data and technical information is extracted from the September 19, 2013 NI43-101 technical report prepared for Finore Mining Inc for the Läntinen Koillismaa Project, Finland , also written by Mining Plus. Historical resources have not been verified by the Company and are not current, therefore reliance should not be placed on such historical information.

Mr. Neil Pettigrew, P.Geo,. is the Qualified Person as defined by National Instrument 43-101, is the Vice President of Exploration and a director of the Company and has reviewed and approved the technical information in this document.

Forward Looking Statements


Derrick Weyrauch, CPA CAPresident & CEO, Director

• 29 years executive and independent director experience (TSX/NYSE/TSXV)• M&A strategy development, execution and post transaction integration background• Experience includes Cinram International, Temex Resources Corp, Jaguar Mining Inc., Banro Corp

and Eco Oro Minerals Corp.• Founder and director of Magna Mining Corp, and former CFO of Andina Minerals Ltd (ADM:TSXV)

prior to its sales to Hochchilds Plc (HOC: LON).

Dr. Peter C. LightfootDirector

• 30 years of industry experience, globally recognized expert on magmatic nickel-cobalt-copper and precious metal ore deposits.

• Former Principle Geologist – Nickel Sulphide Global Project Generation and Chief Geologist –Base Metals at Inco/Vale, was responsible for Voisey’s Bay, Sudbury and Carajas.

• Currently a consultant to the global mining industry with emphasis on nickel and precious metals

Lawrence RoulstonDirector

• 40 years experience in the mining industry• Investment management/analyst experience and former newsletter editor• Started with a unit of Teck, then worked as an executive with mid-sized and junior mining sector

companies

Neil Pettigrew,

M.Sc., P.GeoVice President Exploration, Director

• Over 20 years of experience in the mineral exploration industry• B.Sc. (hons.) from the University of New Brunswick (1999) and M.Sc. from the University of Ottawa

(2004)• Expertise in Ni-Cu-PGE, gold, VMS, and geochemistry and structural geology • Founding partner of Fladgate Exploration Consulting Corporation and previously Senior

Precambrian Geoscientist with the Ontario Geological Survey.

Dr. Scott Jobin-BevansTechnical Advisor

• 30 years experience in the mineral exploration business • Registered geoscientist with the Association of Professional Geoscientists of Ontario (APGO), an

Adjunct Professor Lakehead University and a certified Project Management Professional (PMP)• Expertise in magmatic sulphides (Ni-Cu-Co) and PGE (Pt-Pd) mineralization, gold, silver, copper

(porphyry) and base metals (VMS) • Former President and a Director of the Prospectors and Developers Association of Canada

(PDAC)

Management & Directors


A New Exploration & Development Company

“Advancing a large-tonnage PGE-Cu-Ni Resource to Underpin a long-term open pit mining operation”

Lantinen Koillismaa (“LK”) PGE-Cu-Ni project, located in north-central Finland Tyko Nickel project in Ontario, Canada.

Overview and Share Structure (all prices in C$ unless noted)

Primary listing TSXV: PDM 3 Mo Trading $0.04 - $0.14

Common Shares 43.7M OptionWarrants

3.09M @ $0.13 per share21.5M @ avg. $0.13 per share*

Stock Price $0.08 Market Cap $3.5M

*Accelerated expiry provision for 16,912,000 at $0.12 should the 10--day VWAP equal $0.20 per share

Market Cap per Pd_Eq Indicated Resource (excludes Inferred)

US$4.13 / oz

Spot price of Palladium (Sept. 5, 2019) US$1,550 / oz


Company Project Mine Type Country M&I Inferred M&I Inferred M&I InferredPolymet Duluth 452.3$ Open Pit USA 649,300 508,900 22,442 17,549 1.08 1.07 11.31$ CD Captial Suhanko n/a Open Pit Finland 116,800 91,700 10,316 8,169 2.75 2.77 2.67$ Generation Mining Marathon 21.3$ Open Pit Canada 179,248 668 3,402 10 1.16 0.87 6.25$ New Age Metals River Valley 3.6$ Open Pit Canada 99,255 52,306 2,940 1,083 0.92 0.64 0.88$ 21C Metals East Bull Lake 5.6$ Open Pit Canada 11,100 5,082 474 393 (a) 1.33 11.89$ Polymetals International Viksha n/a Open Pit NW Russia 27,000 186,000 929 6,399 1.07 1.07 (a)

Average 1.39 1.29 6.60$

Palladium One Kaukua Target 3.1$ Open Pit FInland 10,985 10,875 638 519 1.81 1.48 2.64$

Difference 129% 115% 40%

60%Notes:

Mcap (millions)

Avg. $/oz Pd_Eq (c)

Discount to peer average

(c) M&I+I divided by market capitalization as at September 17, 2019(b) Not applicable, small asset in larger organization

Source: Company disclosuresCalculations: Pd_Eq calculated for all projects using $1,100/oz Pd, $950/oz Pt, $1,300/oz Au, $3/lbs Cu, $7/lbs NiMay not add due to rounding(a) No M&I

Pd_Eq Tonnes (000's) Pd_Eq Ounces (000's) Pd_Eq g/t

Global Inventory of Open Pit Palladium Deposits

2nd highest grade

Compelling valuation


Pit Constrained Resource Estimate – September 2019

635,600 Pd_Eq ounces of Indicated Resources (1.80 g/t Pd_Eq, 11 million tonnes)

525,800 Pd_Eq ounces of Inferred Resources (1.50 g/t Pd_Eq, 11 million tonnes)

Whittle pit optimization assumptions:

Price assumptions are conservative in the context of today’s commodity price market, where for example, palladium is trading at $1,550 per ounce (as at Sept. 5, 2019).

Favourable 3:1 stripping ratio

Low cost open pit mining potential

Element UnitsPrice

Assumption (US$)

Palladium per oz $1,100Platinum per oz $950

Gold per oz $1,300Copper per lbs $3.00Nickel per lbs $7.00

1 As at September 5, 2019

Whittle InputsValue

Mining Recovery 95%Mining Dilution 5%Currency USDRoyalties 1% NSRProcessing cost (incl. G&A) $9.75/tMining cost $2.20/tCut-off grade Pd 0.3Overall Wall Angle 54.96

See appendix for additional details


LK Project: Kaukua Resource Block Model (2019)

Cross Section at 3,553,810 mE showing block model and drill hole grades for Pd.

Cross Section at 3,553,610 mE showing block model and drill hole grades for Pd.

Kaukua Resource plan view showing block and drill hole grades for Pd.

2019 Mineral Resource Estimate• Pit Constrained• 635,000 Pd_Eq Indicated ounces• 526,000 Pd_Eq Inferred ounces

IndicateInferredExploration Potential

Optimized Pit Shell Footprint

See appendix for additional details


Finland, Local Resources and Infrastructure

• Finland – top 10 Fraser Institute ranking

• Major city with population of 200,000 only 190

km from project

• Smaller cities are located 160 and 90 km

from project

• Existing, municipality, maintained, all-weather

road to project

• Water is plentiful around the project

• 40 km north of existing rail network

• High Voltage power line crosses the project

• Several local mining specialized workshops

Safe jurisdiction

Strong mining history

Road access

Water

Power at property

Rail transport

Labour availability

Skilled Trades / Workshops

Major Cu and Ni smelters in

Finland and Sweden


STRATEGICALLY POSITIONED FOR THE GREEN ECONOMY

• Aligning asset portfolio with demand fundamentals

• Targeting the Electrification of Global Transportation

• Reduced greenhouse gases, reduced carbon footprint

• Strategic Metal Investment Opportunity

If the future is EVs (Electric Vehicles), the near future is hybrids:

• Positioned for ICEs HEVs / PHEVs EVs• Plug-in Hybrid (PHEV), Hybrid Electric Vehicles (HEV)

• Hybrids - natural bridge between ICEs and an EVs

• “range anxiety” “charging times”

• Norway, a leader in EV sales

• 1/3 of all new cars sales are EVs, including 50% Hybrids

• By 2025, hybrids will represent over 25 million vehicles, close to a quarter of all vehicle sales, compared to just 3% in 2016. (JP Morgan and Chase)

• Increasing quantity of nickel used in battery cathodes.

• NMC 111 transition to NMC 811 battery chemistry

• Chinese manufacturers already making 811 batteries!

Thinking Green, Thinking Clean – Palladium & Nickel


• By 2027, nearly 70% of passenger vehicles purchased globally “will have some degree of electrification” (Roskill)

• Sales of passenger EVs, including hybrid EVs (HEV), jumped more than 24% last year

• HEVs over 60% of EV sales. (Wood Mackenzie- July 2019)

• Unless battery technology is developed, tested, commercialized, manufactured and integrated into EVs and their supply chains, it will be impossible for many EV targets and ICE bans to be achieved.

• “This will pose issues for current EV adoption rate projections” (Wood Mackenzie- July 2019)

• Growing global demand for batteries that power electric vehicles (EVs) and high-tech devices

• supply crunch of lithium, cobalt and nickel by mid-2020’s (Wood Mackenzie)

• Roskill’s analysts expect a “double-boost” for nickel in the battery industry.

• Palladium production is expected to trail consumption by 545,000 ounces this year. (Citigroup 2019)

EV Supply Crunch – Palladium & Nickel


Palladium Supply & Demand

Palladium Demand Grows... Indispensable in various applications, primarily automobile catalytic converters (auto-catalysts)

Increasing demand due to increased environmental emission standards

“Automakers, who have little flexibility to produce cars without palladium, are being forced to push the price higher to secure their critical supply.” (Sprott Asset Management LP www.sprott.com January 2019)

Palladium Supply is Constrained… • 79% of palladium supply comes

from Russia & South Africa• Pd is a by-product of mining other

metals• Minimal scope for producers to

increase near-term production

Pd Supply Will Continue to be in Deficit


Well Positioned

LACK OF PALLADIUM DOMINANT INVESTMENT ALTERNATIVES• Very few advanced exploration Palladium projects• Compelling valuation proposition before exploration upside

SIGNIFICANT SCOPE TO INCREASE RESOURCE• Systematic conventional exploration, proven mineralization• Elephant country geology

NEW TEAM• Brings exploration and capital markets experience to unlock value

for shareholders

FINLAND ADVANTAGE• Superior politically safe jurisdiction (Fraser Institute)

• Low operating costs compared to North America• 3rd largest supplier of platinum & palladium • Excellent transportation infrastructure• Strong mining culture (e.g. Glencore, Agnico, Anglo, First Quantum)

• History of Cu-Ni-PGE Mining• Excellent Geological database• Relatively unexplored, only opened to private investment in 1990s • Proximity to major smelters in Finland and Sweden


Finland: Elephant Country Geology

• The Fennoscandia shield hosts a wealth of Cu-Ni-PGE deposits

• Includes world class deposits such as Pechenga nickel and Portimo (Suhanko) palladium deposits

Koillismaa Complex including the LK Project


Fenoscandian Shield: Cu-Ni-PGE Deposits

3.45% Cu, 2.47% Ni, 2.5 g/t PGE 45 Mt


Continental Rift-Related Cu-Ni-PGE Deposits

• Host to some of the worlds largest deposits, e.g. Norilsk, Pechenga, Jinchuan, and Duluth and highest grade, e.g. Eagle

• Frequently associated with high PGE grades, e.g. Norilsk, Duluth, Eagle

• Relatively rare compared to other Ni Deposit types.

• There aren’t many of these types of intrusions in the world!

• Kaukua, and Haukiaho are just the first deposits found in the Koillismaa complex.


LK Project: A Rift Related Pd-Rich Deposit

• In the layered Koillismaa Complex, interpreted to have been emplaced in a failed continental rift type environment.

• Koillisma is part of a series of voluminous early Proterozoic (2.44Ga) rift related mafic-ultramafic intrusions which includes:

• The Portimo Complex which host the world class Suhanko (Arctic Platinum) deposit located 90 km northwest of the LK Project

• Suhanko hosts a world-class, SAMREC code compliant resource of 5.4 million (M&I) and 4.4 million (Inf.) ounces of palladium


Suhanko: A World Class Palladium Deposit

• Also Known as Arctic Platinum

• Located in the layered Portimo Layered Complex

• Same age as Koillismaa layered Complex (2.44Ga)

• Koillismaa and Portimo are Continental rift related mafic-ultramafic intrusion

Suhanko Resource Estimate

Mineralization hosted on adjacent and nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.


LK Project: North Central Finland

LÄNTINEN KOILLISMAA (“LK”)

• 100% interest, subject to 2% NSR and 1% buyback for €1M per project

• Maiden Mineral Resource completed September 2019

• ~25 km’s (2,500 hectares) of favourable basal contact, consisting of 9 Exploration Permit extension-applications

• ~13 km’s (1,174 hectares) of favourable basal contact, consisting of 2 Reservation Decision applications

• Excellent Infrastructure in and around the project

• Low cost open pit mining potential Palladium One Mining


LK Project: Highlights

• Covers >25km of the basal contact of the

Koillismaa layered complex

• ~35 km of the basal contact has been mapped

and reconnaissance drilled (81 holes/11,514m)

by the Geological Survey of Finland (GTK)

• outlined multiple anomalous PGE targets

which have not yet been followed up

• Under-explored, only ~4 km of the basal

contact has been drill tested

• 21,972 meters (105 holes) drilled since 2001

• High value concentrate marketable in Finland

and Sweden

• Excellent proximity to infrastructure

• 40 km north of existing rail network and

160 km west by rail to the major port of

Oulu

• Existing all-weather road directly to project

site

• Local government maintains road up to

property boundary


LK Project: Property Boundary


LK Project: Kaukua Near-Term Expansion Potential

Murtolampi

Kaukua South

Murtolampi Cross Section


LK Project: Kaukua Deposit - Expansion Potential

Select Intercepts include: • 65m @ 1.57 g/t PGE (1.04g/t Pd, 0.35g/t Pt, 0.18g/t

Au, 0.18% Cu, 0.10% Ni hole KAU08-018)

• 31.02m @ 2.30 g/t PGE (1.59 g/t Pd, 0.66g/t Pt, 0.16g/t Au, 0.21% Cu, 0.12% Ni hole KAU08-013)

• Inc. 5.50m @ 6.26 g/t PGE (4.29g/t Pd, 1.51g/t Pt, 0.46g/t Au, 0.53% Cu, 0.22% Ni)

• Potential for new parallel zone to the south (Kaukua South)

Limited Drilling• Only ~1 km drilled of ~ 8 km strike potential

• Fault stacked basal unit has produced impressive thickness >100m in some holes.

? ?


LK Project: Haukiaho Deposit

Hole HAU12-018

Limited Drilling• Only ~3 km systematically drilled of

~24 km strike potential• Widely spaced grid style drilling • Did not target higher grade shoots

/ pods• Did not utilize IP which proved

successful at Kaukua

• Multiple highly anomalous historic Outokumpu & GTK holes along strike

• No modern IP completed

• Select Intercepts Include:

• 61.0m @ 0.97g/t PGE (0.56g/t Pd, 0.22g/t Pt, 0.20g/t Au, 0.32% Cu, 0.23% Ni in HAU12-018)

• 42.0m @ 0.83g/t PGE (0.49g/t Pd, 0.18g/t Pt, 0.20g/t Au, 0.29% Cu, 0.19% Ni in hole HAU11-002)

• Historic (2013) Haukiaho Resource


LK Project: Impressive Exploration Potential

• 3 major zones not included in historical resource estimate• Kaukua South: 32.95m @ 1.05 g/t PGE (0.74 g/t Pd, 0.24 g/t Pt, 0.07 g/t Au, 0.17% Cu & 0.13% Ni in hole

KAU08-035)

• Murtolampi: 30.15m @ 0.85 g/t PGE (0.52 g/t Pd, 0.28 g/t Pt, 0.06 g/t Au (0.86g/t PGE), 0.17% Cu, & 0.10% Ni in hole R369)

• Haukiaho’s West Torkoaho Zone: 30.30m @ 1.00g/t PGE (0.55g/t Pd, 0.24g/t Pt, 0.21g/t Au, 0.30%Cu, 0.20% Ni in HAU12-012)

• Potential feeder dyke linking Koillismaa complex to the Näränkävaara Intrusion• Geophysics and historical drilling indicate significant underexplored areas remain• Significant potential to add tonnes and increase grades


LK Project: Next Steps

• Additional mapping and IP geophysics for drill target generation

• Conduct detailed structural interpretation and modelling of mineralization controls

• Drilling program objectives: • Focus to define and delineate additional shallow,

higher-grade mineralization for open pit mining

• Haukiaho• Infill drilling of higher-grade shoots/pods• Torkoaho West zone follow up

• Murtolampi• Extend known mineralization along strike

• Kaukua South • Extend known higher-grade intercepts along

strike and define near surface resources

• Kaukua Deposit• Expand deposit along strike to the east• Up-dip drilling for open pit optimization• Infill drilling of higher-grade shoots/pods


Summary

CAPITALIZING ON OPPORTUNITY

“Our goal is to develop a large-tonnage PGE-Cu-Ni resource to underpin a long-term open pit mining

operation.”

• Limited investible palladium opportunities

• Very attractive per ounce value proposition

• Premier politically safe mining jurisdictions

• September 2019 NI 43-101 Resource Estimate

• Excellent infrastructure

• 100% owned

• New team brings exploration & capital markets experience

• Rising palladium demand and prices

• Exploration program targeted for 2019


Appendix


Pit Constrained Resource Estimate – September 2019

Low cost open pit mining potential

Conceptual optimized Whittle pit suggests a low strip ratio of 3:1

Technical Information and Qualified PersonThe Mineral Resources in this estimate were independently prepared by Mr. Alexei Sokolove an Associate of Mining Plus Pty Ltd, a Qualified Person as defined by National Instrument 43-101, Dr. Markku Iljina (EurGeol) a Qualified Person as defined by National Instrument 43-101 verified the drill hole database and other input data supporting the Mineral Resource estimation. Verification included four (4) site visits.

Mineral Resource Estimate for the Kaukua Deposit – September, 2019 reported at a 0.3 g/t Pd cut-off

ClassificationTonnes

(kt)Pd g/t

Pt g/t

Au g/t

PGE (Pd+Pt+Au)

g/tNi %

Cu %

Pd_Eq5

g/t Oz

Indicated 10,985 0.81 0.27 0.09 1.17 0.09 0.15 1.80 635,600

Inferred 10,875 0.64 0.20 0.08 0.92 0.08 0.13 1.50 525,800

1. CIM definitions have been followed for the Mineral Resources,2. Bulk densities of 2.9 t/m3 have been assumed for all lithologies within the block model,3. The optimization has used metal prices (in USD) of $1,100/oz for Pd, $950/oz for Pt, $1,300/oz for Au, $6,614/t for Cu and $15,432/t for Ni.4. Mining dilution and recovery factors have been assumed at 5% and 95% respectively.5. Pd_Eq is the weighted sum of the Pd, Pt, Au, Ni and Cu grades based on the commodity price as outlined6. Errors may occur due to rounding to appropriate significant figures.

Whittle Inputs Value

Mining Recovery 95%Mining Dilution 5%Currency USDRoyalties 1% NSRProcessing cost (incl. G&A)

$9.75/t

Mining cost $2.20/tCut-off grade Pd 0.3Overall Wall Angle 54.96


LK Project: Metallurgical Advantages

• Disseminated, Palladium-rich, high tenor sulphide• 100% sulphide tenor: ~6% Ni and ~10% Cu

• Preliminary Metallurgical work Indicates: • Saleable concentrate by bulk floatation • Final concentrate grading 11.4% Cu, 4.5% Ni, 7.8 g/t Pt, 36.3 g/t

Pd, and 4.6 g/t Au • Final concentrate grades of 16-17% Cu+Ni have been obtained.

• Unoptimized recoveries demonstrate scope for improvement:• Rougher: 95% Cu, 56% Ni, 86% Pd, 72% Pt and 85% Au• Cleaner: 91% Cu, 48% Ni, 73% Pd, 56% Pt and 78% Au

• MgO can be maintained at 4% using floatation depressants

• 1.6% final concentrate mass pull = low shipping cost to smelter


The Tyko Property covers an Archean

aged mafic-ultramafic intrusion located

in the mining friendly province of

Ontario, Canada.

• Project is located 55 km northeast of the

Marathon deposit which hosts a M& I

resource of:

• 3.0 million ounces of Pd @

0.78g/t, 0.9 million ounces of Pt

@ 0.23g/t and 618 million lb of Cu

@ 0.24%

• Tyko is hosted by metamorphosed

pyroxenite which has been intruded by

later granitoid rocks

• Abundant rip-up clasts indicative of an

active feeder-type system.

• Nickel-rich with an average Ni:Cu ratio

of ~2:1 and a Pt:Pd ratio of ~1:1

• Sulphides consist typically disseminated

to blebby with local patches of net-

textured and semi-massive sulphide

breccia.

Tyko Nickel Property: Marathon Ontario, Canada

The sulphide tenor of the mineralization is very high.

• Total sulphur analysis completed indicated tenors in 100% sulphide that

average 8.6% Ni, 4.6% Cu, and 3.3g/t PGE at the RJ Zone and 16.3% Ni,

8.70% Cu, and 12.8g/t PGE at the Tyko Zone.

• The high tenor of the sulphide suggests a high value flotation concentrate

could be produced.

• This indicates that even a disseminated sulphide deposit could potentially

be economic


Tyko Nickel Property: 2016 Drilling

1,780 metres in 14 holes in 2016

Highlights:

• TK-16-002: 1.04% Ni, 0.23% Cu and 0.28 g/t PGE over 16.19m

• TK-16-010: 1.06% Ni, 0.35% Cu and 0.65 g/t PGE over 6.22m: Including 4.71% Ni, 0.82% Cu and 2.55 g/t PGEover 0.87m

• TK-16-011: 1.47% Ni , 0.49% Cu and 0.71 g/t PGE over 6.05m: Incuding 2.12% Ni, 0.48% Cu and 0.94 g/t PGEover 3.15m


Tyko Nickel Property: Next Steps

• Down Hole EM Survey of 2016 Drill Holes

• Reconnaissance mapping and prospecting program

• Drilling program objectives: • Focus on expanding the RJ and Tyko Zones to

depth

• Target untested EM anomaly at Smoke Lake

• Target untested mag and EM anomalies north and west of RJ zone

• New Airborne EM Survey covering entire Property

PALLADIUM ONE MINING INC. TSX-V:PDM FRA: 7N11 33TSX-V: PDM FRA: 7N11Palladiumoneinc.com

Contact:

Derrick Weyrauch, President & CEOPhone: +1 778 327 5799

[email protected]

Documents

2019 09 19 - PDM PPT FINAL · 3$//$',80 21(0,1,1* ,1& 76; 9 3'0 )5$ 1