Pickett Mountain Project and Undiscovered Mineral Potential Penobscot County, Maine GSM Meeting November 17, 2017

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Disclaimer

TSX-V:WLF

This presentation may contain "forward looking information" within the meaning of Canadian securities legislation, which are based on the opinions and estimates of management 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 information. Such risks and uncertainties include, but are not limited to, risks associated with the mining industry, the risk of commodity price and foreign exchange rate fluctuations, the ability of Wolfden to fund the capital and operating expenses necessary to achieve the business objectives of Wolfden, as well as those risks described in public disclosure documents filed by Wolfden. Due to the risks, uncertainties and assumptions inherent in forward-looking information, prospective investors in securities of Wolfden should not place undue reliance on these forward-looking information. This presentation has been completed by Wolfden. Certain corporate projects referred to herein are subject to agreements with third parties who have not prepared, reviewed nor approved this presentation. The presentation is not intended to reflect the actual plans or exploration and development programs contemplated for such projects. Donald Hoy, P. Geo., is the Qualified Person for the information contained in this presentation and is a Qualified Person within the meaning of National Instrument 43-101. For further information on the technical data provided in this presentation, including the key assumptions underlying the mineral resource herein, refer to the Sedar filings as listed below:

Wolfden Resources Corporation - Who We Are

• Wolfden Resources Corporation is a junior mineral exploration company based in Thunder Bay, Ontario, Canada

• The Company initially private, went public by way of an Initial Public Offering (IPO) in late 2012; it’s shares are listed on the Toronto Stock Exchange-Venture Board (TSX-V) under the ticker symbol “WLF”

• Wolfden is currently active in exploring for nickel-copper sulphide deposits in the Province of Manitoba as well as for zinc-lead-copper-silver massive sulphide deposits in the Bathurst Mining Camp in the neighbouring Province of New Brunswick

• Wolfden in its tenure in mineral exploration, has maintained strong beneficial working relationships with all stakeholders including Government, regulators, the private sector, private landholders as well as First Nations groups on all of its projects worked to date

• Management have a proven track record in mineral discovery, exploration and finance and have been directly involved in several base and precious-metal discoveries and mine developments in North America in the last 20 years

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Wolfden Resources Corporation - Key Management

TSX-V:WLF

Donald Hoy – President, CEO & Director

•Prior to Wolfden, VP Exploration and Development for Cliffs Natural Resources Inc.

•VP Exploration for Freewest Resources Canada Inc. (2002-2009) which was acquired by Cliffs Natural Resources Inc. in 2009

•2009 recipient ‘Bill Dennis Prospector of the Year Award’ for Freewest’s discovery of the world-class Black Thor chromite deposit located in the Ring of Fire area of Northern Ontario

•Over 30 years experience in the mineral exploration sector in North America

Ewan Downie – Chairman & Director

•Currently President and CEO of Premier Gold Mines Limited, a current gold producer

•Founded the original Wolfden Resources Inc. and served as it’s President & CEO from to 1995 to 2007 when it was acquired by Zinifex, an Australian company

•2003 recipient ‘Bill Dennis Prospector of the Year Award’ for Wolfden’s discovery of the West Zone on the High Lake Project in Arctic Canada

•More than 25 years experience in the mineral exploration and development sector in North America

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Base-Metal VMS Endowment – North American Appalachians

TSX-V:WLF

• The Gander Terrane is well endowed with high-grade Zn-Pb-Cu-Ag massive sulphide deposits (Bathurst Mining Camp and the Buchans District)

• The Maine Volcanic Belt, the extension of the Gander Terrane, is very prospective given minimal exploration efforts as compared to New Brunswick and Newfoundland

• Recent changes to mining regulations in Maine could change this

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First Mover Advantage In Maine

TSX-V:WLF

• In 2013, Maine introduced new legislation to reform mining laws and regulations

• Prior to this initiative, the last mining operation In Maine occurred in the 1970’s; mineral exploration in recent times has been absent

• Bill LD820, that permits mining of metallic minerals in certain prescribed situations, was recently enacted in the Maine Legislature (June 2017); the new laws will take effect in November 2017

• The regulations passed are stringent; they appear to be best suited to deposits that are high-grade underground situations with a small surface footprint

• Pickett Mountain is one of the highest-grade undeveloped

volcanogenic massive sulphide deposits in North America

Pickett Mountain Project Acquisition and Financing

The Acquisition: • Wolfden completed a purchase and sale agreement to acquire a 100% interest in the Pickett Mountain

property comprising 6,871 acres, for cash consideration of US$8.5 million

• The property acquisition includes all mineral, subsurface, timber and surface rights, including the Pickett Mountain Zn-Pb-Cu-Ag massive sulphide deposit with no underlying royalties

The Royalty and Financing Agreement: • Wolfden also completed a royalty and equity-based financing agreement with Altius Minerals Corporation

to fund the Acquisition

• Altius has acquired a 1.35% gross sales royalty on the Pickett Mountain project for US$6.0 million with an option to purchase an additional 0.50% gross royalty before the first anniversary of production, for US$7.5 million

• Additionally, Altius purchased 14,200,000 units of WLF at a price of C$0.25 per unit for gross proceeds of C$3,550,000 (private placement)

• Wolfden also participated in the private placement and raised proceeds of C$1,500,000 (C$5,050,000 total)

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TSX-V:WLF

Pickett Mountain Zn-Pb-Cu-Ag Deposit

Pickett Mountain Deposit – History, Location and Infrastructure

Pickett Mountain Land Tract

The Pickett Mountain deposit was discovered in 1979 by Getty Mines Ltd.; completed diamond drilling, metallurgical work, environmental studies and PF studies during 1979-1984 • Chevron Ltd. completed metallurgical work and

some deeper drilling on the deposit (1984-1989); this was the last time the property was explored

• Property is accessible year-round via forestry roads

from State highway 11, 10 miles north of Patten

• Closest power line is on State Highway 11 (11 miles away)

• Overall good location, remote enough and isolated away from population centres in northern Maine but close to transportation and infrastructure

• Opportunity to sell timber rights (Est, US$5-6M)

State Highway 11

Pickett Mountain Deposit – A High-Grade Massive Sulphide Deposit

• Volcanic-hosted massive sulphide deposits with these grades are rare

• 14.65% Zn, 6.40% Pb, 2.74% Cu & 3.78 opt Ag over 25 feet (true thickness)

Pickett Mountain Deposit – Preliminary Metallurgical Study

• Preliminary metallurgical work completed by Getty (1984) on drill core produced 3 floatation concentrates with resulting recoveries of 88% for zinc, 78% for lead and 78% for copper

• These are excellent recoveries in comparison to most volcanogenic massive sulphide deposits in the North American Appalachians

Pickett Mountain Forest Land Tract

Pickett Mountain Property – Regional Geologic Setting

Grand Pitch Formation (Cambrian)

Bimodal Volcanic Rocks (Ordovician)

Pickett Mountain Zn-Pb-Cu-Ag Deposit

Weeksboro-Lunksoos Lake Anticlinorium • Bimodal felsic

and mafic volcanic rocks of Ordovician age (465 Ma) are host rocks (Shin Brook equivalents?)

• Anticline cored by sediments of Grand Pitch Formation

• Regionally, felt to be good potential within the outlying bimodal volcanic rocks

Area of Planned Airborne Geophysical Survey

Pickett Mountain Deposit – Geological Plan Map & Cross Section

• The deposit comprises 2 main lens that contain 90% of the known historical resource; 3 lens are also known in the hanging-wall, suggesting excellent potential for the existence of additional stacked lens in the favourable footwall breccia and hanging-wall tuff

Pickett Mountain Deposit – Longitudinal Section

Compilation of historic drilling reveals 2 main massive sulphide bodies; West Lens and an East Lens • There are at least 3

smaller massive sulphide lens in the hanging-wall as well

• Notably, the East Lens appears to be open along strike to the NE and at depth

• The West Lens is open at depth below the -400 metre elevation

East Lens West Lens

Long Section Looking NW

Pickett Mountain Deposit – Property Exploration Potential

• Ground EM surveys clearly show a prominent conductor coinciding with the massive sulphide deposit

• SW extension of the mineralized horizon shows potential (minimal drilling)

• Notably, down-hole EM surveys were not completed on any of the historic drill holes ( on drill holes testing the deposit nor on step-out exploration holes

Minimal Drilling

• Well-defined Zn-Pb-Cu soil anomaly is located coincident and down-drainage from the known massive sulphide deposit

• Southwest extent of the EM conductor associated with the deposit and coincident soil anomaly situated 400 metres to the southwest of the known deposit not adequately drill tested

Pickett Mountain Deposit – Property Exploration Potential

Exploration Target

Volcanogenic Massive Sulphide Deposits – Clustering Effect

BMS #12

Caribou

Favourable Volcanic/Sedimentary Rocks

• In the Bathurst Mining Camp in NB there are 46 known massive sulphide deposits led by the world-class Brunswick #12 deposit (100MT @ 12% Pb+Zn) • The same clustering effect is likely for the Central Maine Volcanic Belt

Summary

• The Maine Volcanic belt hosting the Pickett Mountain deposit is extremely prospective given

the mineral endowment in neighbouring New Brunswick (Bathurst Mining Camp) and in Newfoundland (Buchans District); new mining laws and regulations to be enacted in late 2017 in Maine, present an excellent exploration and development opportunity in a relatively under-explored jurisdiction

• The Pickett Mountain massive sulphide deposit is thought to represent one of the highest-grade undeveloped VMS deposits in North America

• Preliminary metallurgical work produced 3 floatation concentrates with excellent recoveries for zinc (88%), lead (77%) and copper (74%) when compared to recoveries for other VMS deposits in the Appalachians

• The potential to enlarge the known Pickett Mountain VMS deposit is thought to be very good as is the potential to discover additional satellite deposits on the property and outlying regions

• A public information session will be held in Patten in early December to introduce the Company, the project and to listen to and address concerns that local stakeholders may have in regard to the upcoming exploration program; it is anticipated that these meetings will be held from time to time as the project evolves

• A first-phase diamond drilling program comprising 6,000 metres will be completed on the Pickett Mountain VMS deposit in December to confirm the grade, nature and extent of the deposit; step-out drilling will also be completed along strike and at depth in efforts to enlarge the known deposit

• Concurrently, a large loop electromagnetic survey will be completed over the deposit locale to help define depth and on-strike extensions of the known deposit

• A detailed high-resolution airborne geophysical survey will be completed over the Weeksboro-Lunksoos anticlinorium in the New Year to determine a geophysical signature for the deposit and to look for prospective targets elsewhere within the volcanic belt hosting the Pickett Mountain deposit

• Wolfden continues to evaluate and assess other prospective base-metal opportunities in Maine; further acquisitions are likely

Pickett Mountain Project – What to Look For

Capital Structure

Price (Nov. 15, 2017) $0.41 52 Week Range $0.08 - $0.44

Market Capitalization $35.3 Million

Shares Outstanding 86.2 Million

Warrants and Options 13.3 Million Net Cash $3.0 Million Insider Ownership (basic) 17%

Wolfden Chart

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Capital Structure

TSX-V:WLF

Donald Hoy, M.Sc., P. Geo. President, CEO & Director Tel: 807-624-1131 Website: www.wolfdenresources.com