NIBLACK

PROJECT,

ALASKA

December, 2020

Corporate Presentation

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Our Company’s founding vision is to be an industry leader

in transparency, inclusion and innovation.

CAUTIONARY STATEMENT

DISCLAIMER

The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning theCompany and should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not asubstitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of theinformation presented.

FORWARD-LOOKING STATEMENTS

This presentation may contain forward-looking statements that are not historical facts. Forward Looking Information includes, but is not limited to,disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and coursesof action; the timing and costs of future exploration activities on the Company’s property; success of exploration activities; permitting timelines andrequirements; requirements for additional capital; environmental requirements; planned exploration and development of properties and the resultsthereof; planned expenditures and budgets and the execution thereof. Often, but not always, forward-looking statements can be identified by theuse of words such as “expects,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will”, “budget”, “scheduled”, “forecasts”, “anticipates”,“potential”, “base case” or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would","might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties, and other factorswhich may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance,or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things,the Company’s corporate strategies, mineral resource estimates and plans for further exploration, which will require additional funding. Theseforward-looking statements are based on management’s current expectations and beliefs (including the belief in the accuracy of the resourceestimate) but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statementsor information. Information in this presentation is not intended to be a comprehensive review of all matters and developments concerning theCompany and Company does not assume any obligation to update, or to publicly announce, any such statements, events or developments, except asrequired by law.

TECHNICAL DISCLOSURE

The technical information in this presentation has been approved by Robert McLeod, P.Geo., the President and CEO and a Director of the Companyand a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

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ABOUT HEATHERDALE (TSX-V:HTR)

• Advanced-stage Niblack Project: Cu, Au, Zn,

Ag VMS deposit located at tidewater in

southeast Alaska. Inactive since 2012

• Restructured with new Management Team and

Corporate Vision; $20M market cap

• Excellent resource expansion and exploration

upside at Niblack (multiple targets)

• Significant recent engineering, community,

environmental baseline studies

Major Shareholders

Insiders 16.2%

Crescat Funds 5.6%

Sino Capital 5.3%

Delbrook Capital 4.5%

* Approx 70% of I & O shares subject to escrow ranging from 4 months to 2+ years

Issued and Outstanding 22.2 M *

Warrants and Options 1.8 M

Fully Diluted 24.0 M

New Board of Directors: Rob

McLeod, Don Birak, Ron Stewart,

Edie Thome, Jessica Van Den Akker

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Southeast Alaska, Northwest BC

Project Location and Significant Deposits

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OPEN

OPEN OPEN

OPEN

OPEN

• Restructuring and $5.8 million financing completed

• New technical team, Board of Directors, Vision & Corporate

rebrand

• Two additional polymetallic acquisitions with Niblack synergies to

be considered

• 2,000m Phase I diamond drilling program completed; will restart

in early 2021. High-impact targets include:

• Lookout Zone down-dip: 1.5m 2.0% Cu, 23% Zn, 3.3 g/t Au, 90 g/t Ag

• Stepout from historic Niblack mine (surface drilling) no current resources

• Resource Expansion at Lookout Zone (underground)

• Community engagement and consultation ongoing

Heatherdale Next Steps…

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• 100%-owned, 6,200 acre past-producing

gold-rich massive sulphide deposit,

located on tidewater.

• Modern 4 x 5 m underground exploration

access

• Strong exploration potential along strike

and at depth; high-grade areas could be

initially targeting for mining

• Significant drilling, engineering and

permitting previously completed

• Gravina Island site near Ketchikan is

proposed for mill and tailings facility.

• Agreement in place for low-interest

$125M financing from Alaska government

NIBLACK DEPOSIT

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• Surface and underground

mine rehab underway

• 2,000 meters at original

Niblack mine (surface)

• Historic grade avg. 3.2% Cu

1.3 g/t Au and 21 g/t Ag

• Step-out drilling from

underground at Lookout

Zone to add high-grade

tonnage (2,000m

underground to be

completed in Q1 2021)

2020, 21 Phase I Drilling

Lookout Zone & Historic Mine

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CURRENT RESOURCE

• 2011 SRK NI 43-101 Estimate; subsequent step-out drilling in 2012 at

Trio Zone not included

• High-grade Indicated core of Lookout Zone: 1.2 Mt 1.7% Cu 3.2 g/t Au

3.8% Zn 62.6 g/t Ag within 5.6MT containing 317K oz Au, 118 Mlb Cu.

215 Mlb Zn, 5.3M oz Ag; plus 3.4 Mt Inferred

• NSR Model constructed to maximize tonnes; smoothed out grade

• Resource update planned for Q1 2021

Niblack Tonnes Cu (%)Au

(g/t)Ag

(g/t) Zn (%)Cu

(Mlb) Au (oz) Ag (oz)Zn

(Mlb)IndicatedLookout 5,638,000 0.95 1.75 29.52 1.73 118.1 317,220 5,351,052 215.0Total 5,638,000 0.95 1.75 29.52 1.73 118.1 317,220 5,351,052 215.0InferredLookout 2,370,000 0.73 1.42 21.63 1.17 38.1 108,202 1,648,172 61.1Trio 1,023,000 1.00 1.11 16.56 1.56 22.6 36,509 544,670 35.2Total 3,393,000 0.81 1.33 20.10 1.29 60.7 144,710 2,192,842 96.3

November 2011 estimates by Deon Van Der Heever, Pr. Sci. Nat., Hunter Dickinson Inc., a Qualified Person who is not independent of the Company. Net Smelter Return (NSR) cutoff uses long-term

metal forecasts: gold US$1,150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu concentrate of 95% Cu, 56% Au and 53% Ag with

payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag. Detailed

engineering studies will determine the best cutoff.

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Current Mineralized Zones/Resources

Open for Expansion

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OPEN

OPEN OPEN

OPEN

OPEN

High Grade Resource

A REGIONAL FAVORABLE HORIZON

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Significant drill-ready resource expansion & focused exploration targets:

Dama, Lindsy, Mammoth and the former Niblack Mine Zones

+ Multiple additional deposit targets indicated along unexplored 5km

trend of favourable host rocks

Revised Geological Interpretation:

Overturned Antiform/synforms

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major sulphide occurrence

Rhyolite(projected to surface)

Lindsy

Lookout

Trio

DamaNiblack Mine

Mammoth

Revised Geological Interpretation:

Niblack-Mammoth-Lindsy

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2020 Drill

Assays

Pending

RESOURCE EXPANSION POTENTIAL:

Downdip at Trio and Lookout Zones

Q1 2021 UG

Drill target

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Exploration has

consistently added

tonnage to resources at

Niblack.

Favourable Host Rhyolite Horizon

Previous interpretation

43-101 IndicatedResource

Zone

Mafic rocks

Mafic/Felsic

rocks

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Favourable Host Rhyolite Horizon

2020 New Interp and drill targets

Nov 2020 Surface

Drill target

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• Historic Production direct

shipping ore 3.2% Cu plus Au

• Previous drilling targeted

antiform model

• Ocean-floor style, higher-grade

mineralization

• 10 DDH completed Q4 2020

Nov. 2020 SURFACE DRILLING:

Historic Niblack Mine

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Hole-IDFrom (m)

To (m)Width (m)

Cu %Au g/t

Zn %Ag g/t

NIB-3 158.5 160.3 1.8 3.16 1.21 0.07 23.8

LO-064 45.6 46.4 0.9 8.36 0.84 0.82 36.1

LO-065 18.9 23.5 4.6 5.77 2.31 3.81 63.2

and 31.1 39.0 7.9 2.97 1.67 1.54 20.6

LO-066 128.0 145.5 17.5 1.46 0.87 0.65 14.5

and 162.8 167.3 4.6 1.53 2.34 13.11 17.6

and 183.2 187.2 4.0 3.26 1.19 0.34 25.1

LO-067 239.3 244.1 4.9 5.08 13.15 4.01 149.1

and 256.3 257.9 1.5 2.49 10.63 9.11 36.6

LO-169 124.4 126.0 1.6 11.64 5.14 2.62 89.9

• 2021 Potentially extend drift

by 100 - 150m

• Objective to extend dip

length by 50%

• Additional stepout, infill &

metallurgy/Geotech holes

considered

• 2021: Q1 drilling to extend

down-dip of high grade zone

• New structural interpretation

suggests shallowing of dip

to the west

UNDERGROUND EXPLORATION:

Lookout Zone

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2021 Focused, modern exploration targeting 5km strike extension of host horizon

EXPLORATION:

IP Geophysics and Soil Sampling

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EXPLORATION TARGET

Dama Copper Zone; target 2021

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1. Accessible Deep Water at Niblack Anchorage 2. Gravina Island Industrial Complex

3. Dock & Barge Camp 5. Underground Development4. Supply Barge

SITE INFRASTRUCTURE

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• Historic mining operations

• Existing underground development (1,100 m of

4.3m x 5.3m)

• Resource has good internal continuity

• Ideal setting for bulk mining methods (i.e. longhole

stoping)

Average width: 15m

Maximum width: 100 m

Average dip: 52o

• Initial metallurgical tests indicates high quality

clean Cu & Zn concentrates, high precious metals

content

• Competent ground in existing underground ramp

• Low initial Capex requirement

IDEAL MINING CONDITIONS

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*AIDEA – Alaska Industrial Development and Export Authority

Detailed evaluation of several potential off-site mill sites conducted. Gravina Island is

currently the leading option and presents clear technical and financial advantages.

Key Benefits:

• Existing, low cost power

• On tidewater with deep draft port

• Accessibility to local workforce

• Heatherdale and Ketchikan Gateway

Borough reached an MOU in 2012

for investigating the site

• Previous disturbance

(‘brownfield’)

• Pre-Authorized for

$125M low interest

loan to develop the

Niblack Project

through AIDEA*

Preferred Mill Site

Potential Mill Site

Existing Road

GRAVINA ISLAND

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• Management has strong track record

community & indigenous engagement,

advanced project permitting

• Prince of Wales Island, Metlakatla and

Ketchikan consultation by previous

operators; new outreach to be initiated

• Share ownership by Native Groups

should be considered

• Existing liabilities at Niblack; bonding &

water treatment in place

• Land tenure includes Federal Patent,

Federal and State of Alaska Mineral

claims

ENVIRONMENT, PERMITTING, COMMUNITY

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TRADING SYMBOL: TSX.V:HTR

Contact Us:

Rob McLeod, P.Geo – Director, President & CEOPhone: (604) 617-0616E-mail: rm@bwcg.ca

Jasper Gatrill, Manager Corporate CommunicationsPhone: (778) 708-0509Email: jg@bwcg.ca

Corporate Office:

Suite 1800 - 555 Burrard, PO Box 220 Vancouver, BC V7X 1M9Phone: 604-343-2997Twitter: @HTRResourceswww.heatherdaleresources.com

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