Manitobas Next Copper Mine

VMS:TSX.V

Manitoba’s Next Copper Mine

NAN: TSX.V

Maniitsoq, Greenland: Discovering The World’s Next Ni-

Cu-Co-PGM Belt

February, 2013

Discovering High Grade Copper Deposits in Manitoba, Canada

FORWARD-LOOKING STATEMENTS

NOTE:

Some of the statements contained herein may be forward-lookingstatements which involve known and unknown risks and uncertainties.Without limitation, statements regarding potential mineralization andresources, exploration results, and future plans and objectives of theCompany are forward-looking statements that involve various risks.The following are important factors that could cause the Company’s actualresults to differ materially from those expressed or implied by suchforward-looking statements: changes in the world wide price of mineralcommodities, general market conditions, risks inherent in mineralexploration, risks associated with development, construction and miningoperations, the uncertainty of future profitability and the uncertainty ofaccess to additional capital. There can be no assurance that forward-lookingstatements will prove to be accurate as actual results and futureevents may differ materially from those anticipated in such statements.VMS Ventures Inc. undertakes no obligation to update such forward-lookingstatements if circumstances or management’s estimates or opinionsshould change. The reader is cautioned not to place undue reliance onsuch forward-looking statements.

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VMS VENTURES INC.

CAPITAL STRUCTURE(as at February, 2013)

Issued & Outstanding: 129,668,399Warrants: 163,333Options: 8,442,500Fully Diluted: 138,274,232

QUICK FACTSVMS - TSX.V

Well funded; over $10.4M in the treasury

Reed Copper deposit discovered in 2007.

June 2010: Joint Venture signed with HudBay Minerals (T.HBM). HBM is project operator; VMS project costs carried to production. Project ownership is 70% HBM & 30% VMS.

Reed Copper Deposit Prefeasibility Mineral Reserves: 2.16M tonnes of 3.83% Cu, 0.48 g/t Au, 6.02 g/t Ag

Underground development underway and production to begin Q4 2013; cash flow in 2015

Other assets :

21M shares of North American Nickel (NAN.TSX.V)

a large 100% owned land package in the Snow Lake-Flin Flon Greenstone Belt in Manitoba, Canada; drilling planned for winter 2013

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Rick Mark, M.Ed (Admin) CEO & Chairman VMS & NAN: Rick has over 25 years experience in the public marketplace. He is also CEO & Chairman of Harvest Gold Corporation (HVG-TSX.V), a December 2005 "spin off" from VMS,and is the President and CEO of Pancontinental Uranium Corp. (PUC-TSX.V).

Neil Richardson P. Geo. COO, VMS & NAN: Neil has a long history of mineral exploration and mining experiencewith HudBay Minerals and others. As the COO of both companies, Neil is responsible for developing and implementingexploration programs .

Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. : President & Director NAN, VP Exploration VMS: Markhas 35 years of industry and government experience including Chief Geologist of the Mineral Deposits Section inManitoba. He is a recipient of the Canadian national award for outstanding geoscientific achievement.

John Roozendaal B.Sc, President of VMS, Director of NAN: John was the founding director of VMS Ventures Inc.He has 20 years of Mineral Exploration experience and was directly involved in the Reed Copper discovery.

John Pattison, P. Geo., B.Sc. Chief Geologist VMS and NAN: John worked with Falconbridge Limited andassociated companies for 19 years managing base metal, PGE and gold exploration projects throughout Canada andsouthern Africa. He is the lead project geologist for the Maniitsoq, Greenland nickel project.

VMS/NAN MANAGEMENT

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Independent Directors:Gilbert Clark, Director, NAN: Mr. Clark is a European based Geologist with more than 13 years of industry experience;principally in mining and international resource developments. He is currently an Investment Advisor with The SentientGroup, an independent private equity investment firm specializing in the global resources industry.

Don Whalen, Director & Audit Committee Chair, VMS: Don was Executive Chairman and Director of High River GoldMines. Before joining High River, he held numerous marketing, technical and management positions over a 29 year careerwith IBM Canada Ltd.

Jim Clucas, Director & Audit Committee Member, NAN: Jim was Chief Financial Officer of Inco’s Canadian operationsand has been involved in the development of several mineral deposits, including the Snow Lake Mine (High River GoldMines), Montana Tunnels (Pegasus Mining) and the Fenix Project in Guatemala. He was the founder of International NickelVentures Inc. which acquired and developed the Santa Fe/Ipora Nickel Laterite deposit in Brazil. Jim is currently Presidentand CEO of Search Minerals

Advisory Board Cashel Meagher B.Sc. P. Geo.: Cashel is currently Vice President South America Business Unit of Hudbay Minerals. He has worked with the technical and management teams at VMS Ventures and North American Nickel through the Reed Lake joint venture with VMS. Prior to joining Hudbay, Cashel held management positions with Vale Inco in exploration, technical services, and mine operations.

Mike Muzylowski: Mike has played key roles in the discovery of 15 Canadian mines, 13 in Manitoba, during his distinguished career as a geologist, geophysicist and senior mining executive.

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INDEPENDENT DIRECTORS & ADVISORY BOARDS

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REED COPPER DEPOSIT

VMS-HudBay Reed JV

• VMS owns 30% of the project and is financed to production

• Prefeasibility Mineral Reserves: 2,157,000 tonnes of 3.83% Cu, 0.59% Zn and 0.48 g/t Au

• NPV 8% @ $3.50 Cu = $130,534,000; IRR 58%

• Borehole Pulse Electromagnetic targets indicate the deposit remains open at depth.

• Underground drill stations will explore for additional ore bodies and further define the size of the deposit.

Open Down Plunge

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REED PROJECT RIBBON CUTTING CEREMONY, AUGUST 2012

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REED COPPER PROJECT CASH FLOW EXPECTED IN 2015

The high grade nature of the Reed Copper deposit gives the project strong leverage to copper prices.

The following table shows a copper price sensitivity analysis based on the operating parameters set out in the Prefeasibility Study Published in May 2012.

VMS Ventures Inc. VMS Ventures Inc.Cu = $3.50/lb USD Cu = $4.00/lb USD

Prices and Exchange Rate

Copper (USS/lb) $3.50 $4.00

Gold (US$/oz) $1,500.00 $1,500.00

Silver (US$/oz) $30.00 $30.00US$/CDN$ 1 1

Pre‐taxReed Cash Flow $249,673,000 $331,608,000

NPV8 $130,534,000 $195,010,000IRR 58% 74%

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REED PROJECT OVERVIEW

• 1,300 tonne/day operation; Mine life 5 to 6 years

• 72,000 to 78,000 tonnes copper concentrate per annum

• Mining method is longhole open stoping

• Manpower : 77 employees at full production

• Power : 3 generators production up to 5,000 kwh

• Concentrating will be at HBM Mill in Flin Flon

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TYPICAL EXPLORATION STOCK PRICE CYCLE

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ORE BODIES TEND TO GROW IN THE FLIN FLON BELT

After K. Gilmore (Hudbay Minerals), 2007

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VMS 100% OWNED PROPERTIESTHE VTEM SYSTEM

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VTEM COVERAGE OVERVMS’ 100% OWNED PROJECTS

• Recent massive sulphide discoveries, including VMS’s Reed Lake Deposit, were made with VTEM

• VMS Ventures has flown over 17,000 line-km of VTEM over its projects, majority flown at 100 m line spacing.

• 20 targets to be drilled this winter

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VMS 2013: ASSETS AND OPPOTUNITIES

The Reed Copper Project• January: Completion of surface construction and commissioning of 1.6 MW generator• August: First production and completion of main ventilation fan• 2014: Continued underground development to the 260 m level and full production.

VMS 100% Owned Manitoba Properties• $1.2M budgeted for winter 2013 drill program in the Snow Lake area. 3,000 m to 3,400 m

of drilling is scheduled to test VTEM targets.

$10M and cash flow coming = New Opportunities• An important part of our Exploration Strategy• We are actively seeking an advanced stage project and expect many to come available this year, as Companies run out of money or cannot raise money.

North American Nickel (VMS owns ~21M shares)• District wide drill program planned for Maniitsoq in 2013; own VMS or NAN for discovery upside potential.

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CAPITAL STRUCTURE(as at February, 2013)

Issued & Outstanding: 80,660,193Warrants: 22,960,000Options: 7,683,000Fully Diluted: 111,303,193

NAN - TSX.VAcquired the Sudbury sized Maniitsoq property in

Greenland in August, 2011; 100% owned.

Site of the world’s largest impact structure

High-grade nickel intercepts in historic drill holes:9.85 m at 2.67% Ni and 0.60% Cu at Imiak Hill12.89 m averaging 2.24% Ni and 0.63% Cu at Fossilik

2012 Drill program completed at Maniitsoq. 1,550 m of diamond drilling; 535 samples analyzed.

Over 3,500 line km flown in a VTEM Plus survey in July, 2012; 75 conductive zones identified

Sudbury Ontario land position includes the Post Creek, Halcyon and Wahnapitae properties.

VMS Ventures owns ~21M shares of NAN.

QUICK FACTS

Maniitsoq Ni-Cu-Co-PGM ProjectSouth West Greenland

Introduction

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100% interest in a giant property covering 4,983 km2 of the highly prospective, but underexplored, Maniitsoq Impact structure.

Located on the south west coast of Greenland pack ice free all year round due to the presence of the Irminger Current, a tributary of the Gulf Stream.

Maniitsoq Ni‐Cu‐Co‐PGM ProjectSouth West Greenland

Project Location

Introduction


100% ownership of tenements covering the Maniitsoq meteorite impact structure.

High grade and tenor sulphide hosted Ni‐Cu‐Co‐PGM mineralisation defined at the surface and along the length of the structure.

Located on the ice free southwest coast of Greenland, deep water navigable by Panamax vessels all year round. The best location in Greenland for all year round mining & shipping of concentrate.

Greenland’s capital, Nuuk, 30 minutes by helicopter and provides European standard coastal re‐supply and logistics facilities 4hrs shipping time.

Greenland is a pro‐mining country.Slide 20


Project History Danish explorers 1962 to 1973: extensive mapping and

shallow diamond drilling but wrongly orientated, smoke but no fire.

Cominco & Falconbridge: 1993 to 2000 fixed wing (non optimal) and small surface EM surveys completed plus extensive high quality geo‐chemical analysis of historical core.

2011 NAN acquires project reviews historical data and then conducts first terrain hugging helicopter‐borne EM survey: 25 new conductors identified.

2012 Geological Survey of Denmark and Greenland et alidentifies Maniitsoq meteorite impact site within NAN’s tenements.

Maniitsoq impact interpreted to be larger than the impact that produced the Sudbury Basin in Ontario, Canada, a meteorite impact structure with >1.3Bt of Ni‐Cu‐Co‐PGM mined and current resources. Slide 21

MANIITSOQ IMPACTMELT ZONE (APPROX.)

DavisStrait


Project Geology Centred on a giant, Archean‐age (~3.0 Ga) impact site ‐

possibly the largest yet identified on Earth (Garde et al., 2012*).

Ni‐Cu‐Co‐PGM mineralization (red stars on adjacent map) is hosted by norite intrusions (shown in purple on the map). These intrusions represent contaminated, mantle‐derived, nickel‐rich, ultramafic magma emplaced in a conduit system as a result of the impact.

Norites are post kinematic (i.e. undeformed) and commonly contain exotic inclusions (xenoliths) of shocked gneissic country rock confirming that they were emplaced after the impact in a dynamic flow system.

Norite intrusions range in size from several square meters to 8 km2 and are concentrated in, but not exclusive to, a 75 km long by 15 km wide belt known as the Greenland Norite Belt.

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DavisStrait

*Garde , A.A., McDonald, I., Dyck, B. & Keulen, N. 2012: Searchingfor giant, ancient impact structures on Earth: the Meso‐archaean Maniitsoq structure, West Greenland. Earth andPlanetary Science Letters 137–138, 197–210.

GREENLANDNORITE BELT


2012: The Confirmation & Discovery Year at Maniitsoq NAN identifies an additional 54 new EM

conductors; 79 detected to date.

Discovers new sulphide mineralisation at Spotty Hill: 123.94m @ 1.00% Ni eq* including 24.2m @ 2.12% Ni eq*

Confirms exploration model by successful drilling at Imiak Hill: 26.98m @ 1.18% Ni eq* including 16.64m @ 1.60% Ni eq*

Discovery of PGM mineralisation at Spotty Hill, the Maniitsoq “game changer”

Established institutional investor support via non brokered private placement with strategic partner The Sentient Group

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DavisStrait

Ni eq = Ni equivalent calculated based on spot prices for Ni, Cu, Co,Pd and Pt on Jan. 27, 2013.*


2012: Spotty Hill “Discovery” Drill Results

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Cross section of 2012 EM plates, historical & NAN drill

results at Spotty Hill

OPEN

Highlights from Spotty Hill discovery hole MQ-12-005123.94 m @ 0.81% Ni, 0.21% Cu, 0.03% Co, 0.26g/t PGM*Incl. 24.20 m @ 1.75% Ni, 0.34% Cu, 0.06% Co, 0.52 g/t PGMIncl. 8.20 m @ 2.39% Ni, 0.21% Cu, 0.07% Co, 0.60 g/t PGM

Significant 2012 Drill intersections from Spotty Hill


2012: Imiak Hill “Confirmation” Drill Results

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Longitudinal section of EM plates, historical & NAN drill results at Imiak Hill

Significant 2012 Drill intersections from Imiak Hill

Deepest intersectionon trend

Exploration Plans for 2013/2014

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Plans for 2013

Diamond DrillingTo expand mineralized zones along strike and down dip at Spotty and Imiak Hill sulphide loads and test numerous other VTEM conductors.

Helicopter TEM SurveysTo cover several showings and ultramafic intrusions not previously flown.

Induced Polarization Surveys To delineated disseminated sulphide mineralization at Spotty, Imiak Hill and other showings.

Field Mapping and SamplingTo ground truth and sample VTEM anomalies and zones of disseminated mineralization exposed on surface.


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DavisStrait

Other StudiesMineralogical, petrogaphic and preliminary metallurgical (QEMScan) evaluation of Maniitsoq sulphides and host rocks.Initiate environmental scoping plan in preparation for future environmental baseline studies.

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World Class Nickel Potential

100% ownership; district-scale land package (>Sudbury) Pub Co management/financing experience/Sentient Group Technical team is deep Secure political jurisdiction and no land claims issues Accessible, along year-round pack ice free coast line Historic exploration data is remarkable ($10M plus) Geology

Abundance of Ni-Cu occurrences at surface & in drillingHigh Nickel Tenor – consistent and economic gradeMajor, long lived structuresLarge-scale mafic igneous event associated with giant impact

New technologies in “old” camp work – 75 EM anomalies

Investor Risk Mitigation


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Manitobas Next Copper Mine