Rathdowney Resources Ltd. (“Rathdowney” or “the Company”) founded in 2007, is a publicly traded company whose primary focus is permitting a development plan and securing a mining license for its Olza Zinc-Lead-Silver Project in Poland

rathdowneyresources.comJanuary 2018

INVESTMENT HIGHLIGHTS

TSXV: RTH

Planned Pathway to Development • Pre-Feasibility Study 2019 • Polish Development Plan (“PZZ”) 2019• Environmental Impact Assessment 2020• Feasibility Study 2020

NEAR TERM DEVELOPMENT

2014 Preliminary Economic Assessment• Robust economics based on NI 43-101 resource 24.4mt (~30% of historical resource)• Post tax NPV8 US$170m, IRR 30%, Payback 2.4 years1

• US$0.57/lb production costs (all on site costs & TC/RC’s)2

• Polish geological Institute historical drilling in 1990’s• C1, C2 historical resource 77 Mt @ ~7% ZnEq. (Zn-Pb)3

economics and potentially EXpandable

ASSET

Brownfield mining district• Adjacent to ZGHB Pomorzany Mine:

• Operating over 40 years• Producing over 90Mt Zn-Pb ore

• Olza connected by rail to operating ZGHB smelter complex and Gdansk port

• Historical (since 12th century) district resources of ~800 Mt of 7% Zinc and Lead4

Mining and infrastructure

• Member of the European Union• Structured, clear & transparent mine permitting processJURISDICTION

• Ongoing engagement with all levels government, residents & other stakeholders since 2011STAKEHOLDERS

• Physical market in deficit• Depleting global inventoriesZINC SUPPLY GAP

} Mining LicenseGranted

1 Preliminary Economic Assessment (PEA), effective date December 31, 2014, download in entirety at ww.sedar.com. See cautionary, Page 4. 2 Zinc by-product basis: $US 0.47/lb, Zinc co-product basis: $US 0.57/lb, Lead co-product basis: $US 0.52/lb3 USGS Open File 2009-1297 4 43-101 non-compliant

Key Equity Information (as at September 30, 2017)

TSXV: RTHCommon Shares Outstanding:Options Outstanding:Warrants:Market Capitalization:

161.7 million9.7 million42.1 million C$25 million

Target Completion

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PROJECT SETTING

Project Olza is located to the north of the Pormorzany Mine in the Upper Silesian Mining District of Poland, which is one of the largest known Mississippi Valley-type (“MVT”) Zinc-Lead Districts in the world. Continuously mined since the 12th century, this brownfield mining district has historic resources of ~800 million tonnes grading 7% Zinc and Lead (USGS Open File 2009-1297). Due to the long history of mining in this region, there is abundant infrastructure and processing opportunities for new mining activities.

The planned development scenario is a conventional underground bulk room and pillar mine and processing facility at a rate of 6,000 tonnes per day or 2.16 million tonnes per annum. Additional engineering work on the inferred resources may significantly add to the mine life.

Project Olza has strong community and government support for its full development and is on track to complete its Environmental Impact Assessment and Polish Development Plan (PZZ).In parallel with advancing detailed Engineering and Environmental studies, Rathdowney is pursuing various financing options to complete feasibility work.

Historic Mining District

• Land and Rezoning (in process)• Comprehensive stakeholder engagement

• Environmental Impact Assessment (in process)• Completing additional data collection, reports compilation and agency review

• Polish Development Plan (PZZ) (in process)• Additional drilling to support & expand mine planning• Ongoing engineering data collection, with refinement of design and costing

• Pre-Feasibility Study (in process)• Initial work underway and is well advanced

Above: Katowice International Airport. Below: Katowice Central train station

Structured Clear and Transparent Mine Permitting Process

NEAR TERM DEVELOPMENT:

2017 2018 2019 2020

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Land & Rezoning

Environmental Impact Assessment (EIA)

Deposit Development Plan (PZZ)

Pre-Feasibility Study

Feasibility Study

Anticipated Receipt of Exploitation License

STEP 1

STEP 2

STEP 3

STEP 4

STEP 5

Polish Geological Documentation Confers ownership of concessions

Zoning Spatial plan and local land use amendments

Environmental Impact Assessment Concurrent process with zoning

PZZ (Polish Project Development Plan) Approval subject to Zoning & EIA approval

Mining License Granted upon approval of PZZ

Underway

Approved 2016

rathdowneyresources.com

PROJECT ECONOMIC ANALYSIS

PEA Pre-TAX1

PEA Post-TAX1

NPV8

NPV8

Key Results1 (US dollars / metric units)• $233.8M initial capital cost • $55.6M sustaining capital• $47.42/t on-site operating cost• Conventional 6,000 tpd bulk room &

pillar mine with decline access• Standard SAG and fine grinding• Conventional flotation • High recoveries• Two very clean, low iron, highly marketable

concentrates

Preliminary Economic Assessment (December 2014)

1 Notes on the PEA: Based on median consensus metal prices: $1.00-1.10/lb for zinc; $0.95-1.00/lb for lead.

PEA study by international engineering specialists: SRK Consulting (UK) Ltd, Melis Engineering Ltd. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative

geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the conclusions of the PEA will be supported by

the more detailed engineering work found in a pre-feasibility or feasibility study.

Annual Production Summary

Projected Capital Costs

Projected Operating Costs1

Low Production Costs Support Robust Returns at Assumed Low Metal Prices:$1.00-1.10/lb for Zinc; $0.95-1.00/lb for Lead

• Post-tax payback 2.4 years

(8% discount rate)

• Based on a 24.4 million tonne resource

1. Operating costs are based on the Company’s NI 43-101 Preliminary Economic Assessment (December 2014).

2. TC/RCs are based on Q1 2017 market costing projections ($120/t for zinc; $120/t for lead).

3. All values in US dollars and metric units. Total On-Site includes mining, milling and infrastructure costs incurred to produce

concentrate. Total Off-Site includes TC/RCs, transportation, handling and freight costs. Totals may not add due to rounding.

4. $US 0.47/lb Zinc by-product basis

1. PEA study by international engineering specialists: SRK Consulting (UK) Ltd, Melis Engineering Ltd.

2. Legend: t = tonnes (metric), % = percent, lb = pound

1. All values in US dollars and metric units where M =

Millions. Thirty percent contingency

and fifteen percent EPCM applied to processing

Initial ($M) Sustaining ($M) Total LOM ($M)

• Mining 82.3 36.6 118.9

• Processing 59.7 - 59.7

• Tailings Management & Water Treatment Facilities

33.1 14.5 47.6

• Surface Facilities 15.7 - 15.7

• Contingency 23.1 - 23.1

• EPCM 13.1 - 13.1

Sub-Total 227.0 51.1 278.1

• Reclamation Security 6.8 4.5 11.3

TOTAL CAPITAL COSTS 1 233.8 55.6 289.4

January 2018

Low Cost Production• Trevali Santander Mine:

$0.75/lb Zn Eq.• Trevali Caribou Mine:

$0.92/lb Zn Eq.• Olza produces Zinc at

• $US 0.47/lb Zinc by-product basis• $US 0.57/lb Zinc co-product basis

• $US 0.52/lb Lead co-product basis

Leading Pure Play Zinc Developer• Trevali = approximately 70% Zinc

Revenues• Most primary Zinc mines average 30%

to 50% Zinc revenues• Over 80% of Olza LOM revenues comes

from Zinc

1 2

3

Refining & Smelting Cost1 (US$/t)

• TC / RC2 12.01

• Freight 3.47

TOTAL OFF-SITE COSTS 15.48

(US$/t)

• Mining 26.88

• Milling 11.46

• Environmental/Tailings Storage Facility

5.15

• Site General & Administration 3.93

TOTAL ON-SITE COSTS 47.42

Total cost to produce metal1

US$0.57/lb Znor

US$62.90/tprocessed

,3,4

ANNUAL (Avg)1

• Total Mineralized Material Mined & Processed 2,013,000 t

• Average Recovery, Zinc 89.0 %

• Average Recovery, Lead 88.5 %

• Zinc Concentrate Produced 160,000 dmt

• Lead Concentrate Produced 38,000 dmt

• Zinc Concentrate Grade 56 %

• Lead Concentrate Grade 70 %

• Recovered Zinc196,794,00089,452

lbtonnes

• Recovered Lead59,133,00026,878

lbtonnes

CONCESSION 2

CONCESSION 1

ASSET

2014 NI 43-101 Inferred Resource 24.4 Mt @ 7.02% Zn+Pb (2.0% Zn COG)1

2008 Historical Estimate Outline20 Mt @ 8.3% Zn+Pb

1990 Historical Estimate2

Zawiercie I & II Outline77 Mt @ 6.15% Zn+Pb

1990 Historical Estimate Zawiercie I & II,Rodaki-Rokitno & Marciszow Outline132 Mt @5.40% Zn+PbConcession Boundary

Rathdowney

Polish State Geological Institute (PSGI)2

Legend

• Confirms validity of earlier work• 24.4 MT at 5.53% Zn, 1.49% Pb – 7.02% combined• Representative cross-sectional area of historical

resources

1 Contained metal based on 100% recovery. David Gaunt, PGeo., Vice President Resource and Database for Hunter Dickinson Services Inc. (HDSI), a qualified person (QP) who is not independent of the Company is responsible for the estimate. The effective date of the estimate is July 2014. Estimate at 2% Zn cut-off audited and verified by independent QP - L. Roberts, MAusIMM(CP) of SRK for the Preliminary Economic Assessment.

Drilling Highlights

43-101 Mineral Resource

1. Historical estimate by the Polish State Geological Institute (PSGI) from PSGI 1992 report based on the Polish resource classification system, which is very similar to the Soviet classification system but are different from the classification purposes of NI 43-101. Although results to date are confirmatory, a Qualified Person has not done sufficient work to these historical estimates to classify the estimate as current mineral resources under NI 43-101. The Company is not treating the estimate as current resources. Significant additional drilling and related work would be required to make the estimate a current mineral resource.

2. USGS Open-File Report 2009-12973. Estimate at 2% Zn cut-off audited and verified by independent QP - L. Roberts, MAusIMM(CP) of SRK for the Preliminary Economic Assessment.

Future Expansion• 150 sq. km property in one of the world’s most prolific Zinc-Lead district• Upper Silesian is an area of world-class Mississippi Valley Type Zinc-Lead deposits2

(+100 million tonne deposits)• Historical Resources of 77Mt1

• Rathdowney’s core drilling completed in area of 1990 historical estimate so far confirms resource validity aspects

• This clearly represents a defined resource tonnage target that additional contemporary infill core drilling will further refine, which is planned in the ongoing work programs.

• Olza is an important Zinc-Lead-Silver property with the potential to host a long-life mine, likely in excess of 20 years (77Mt historical estimate)1

• Rathdowney’s work generated 24.4 Mt in less than 30% of historically drilled area3

Comparison of Pre-2000 Polish Resource Terminology with CIM Definitions (CSAG 2010, after Henley, 2004). Prior to 2007, the estimates were categorized, based on distance from a drill hole or mine working as follows: A: exploitation stage where the resource is estimated by underground workings; B: very detailed: drill holes spaced 75 to 150 m; C-1: detailed: drill holes spaced 150 to 200 m; C-2: moderately detailed: drill holes spaced 200 to 300 m; and P1, P2, and P3: least detailed where drill holes are spaced approximately 500 m.

Measured Indicated Inferred Unclassified

A + BC1

C2P1

P2 + P3

Rathdowney Project Olza Inferred Mineral Resources1

CutoffZn%

Tonnes (millions)

Zn(%)

Pb(%)

Zn+Pb(%)

Contained Zn (millions lb)

Contained Pb (millions lb)

2.0 24.4 5.53 1.49 7.02 2,975 802

3.0 18.8 6.43 1.59 8.02 2,660 658

4.0 14.1 7.42 1.70 9.12 2,304 528

5.0 10.4 8.44 1.81 10.25 1,944 417

• Results from new drilling is adding key engineering data and confirming potential to increase resources

• Drilling shows good continuity between resource blocks, highlights include:

• Hole OLZ-241: 3.3m of 16.0% Zn+Pb incl 1.3m of 36.9% Zn+Pb, 2.78 g/t Ag

• Hole OLZ-256: 6.95m of 6.53% Zn+Pb, 30.65g/t Ag, incl. 2.23m of 17.40% Zn+Pb, 54.21 Ag

Potentially Expandable Resource Base

rathdowneyresources.com

CONCESSION 2

CONCESSION 1

Excellent Infrastructure and Development Characteristics

mining & infrastructure

INFRASTRUCTURE• Quality power, water, roads, rail lines and ports to

target smelters• Dramatic positive effect on CAPEX & OPEX• Project development of engineering and permitting

aspects structured to allow rapid development • European Zinc Smelters at close proximity• Easy Access to ports and smelters• Project Timeline coincides with under supplied smelters

Room and Pillar Mining

Processing Flowsheet

Nearby Infrastructure

MINING, PROCESSING, TREATMENT & REFINING• Typical Bulk Room & Pillar Mine• Comparable to Pomorzany geological setting

and mining method• Shallow Ore depth: Good Rock Mechanics• Clean concentrate characterized by very low iron• Standard flotation produces marketable zinc

and lead concentrates, recoveries of: - 89% LOM zinc recovery producing 56% zinc concentrate - 88.5% LOM lead recovery producing 70% lead concentrate

Key Item Availability

Power Power line and substation at project site

Rail Rail line at project site.

Water Commercial water available at project site.

Roads Current road access to project site.

Labour Skilled mining workforce, one hour from Krakow.

Smelters Boleslaw, Budelm, Kokkola, Nordenham.

NearbyMines Pomorzany, Olkuz

January 2018

Mining Technical Metrics

Waste to Ore Ratio 0.05

Mining Recovery 65%

Mining Dilution 17%

Extraction Ratio 86%

Processing Technical Metrics

Zinc Recovery 89%

Zinc Concentrate Grade 56%

Lead Recovery 88.5%

Lead Concentrate Grade 70%

Treatment & Refining Technical Metrics

Zinc Treatment Charge (Modelled) US$120 / tonne

Zinc Treatment Charge (Current Spot) US$30 / tonne

Zinc Payable 85%

Lead Treatment Charge (Modelled) US$120 / tonne

Lead Treatment Charge (Current Spot) US$30 / tonne

Lead Payable 95%

jurisdiction

• Poland - Open to Foreign Investment

• 8th largest economy in the European Union (EU)

• Poland has a well established mining industry with a long history of operating mines. This history has been supported by a well defined legal framework and permitting process for mining.

• Canadian business has positive relationships with Poland with a consumer market of over 38 million (one of Europe’s largest) and a low corporate income tax (19%), have provided the environment for continuous GDP growth since 1992

Krakow skyline

INTRODUCTION INTO SILESIA VOIVODESHIP

Project Olza is located near Zawiercie in the Silesian Voivodeship “province”. The Voivodeship is situated in the southern part of the country, and is considered the most important industrial region of Poland. Project Olza is approximately 45km from Katowice, the capital of the Silesian Voivodeship.The region borders the Czech Republic and Slovakia. Six European capitals: Warsaw, Prague, Bratislava, Vienna, Budapest and Berlin lie within a 600 km radius.The region ranks 14th in the country in terms of area and 2nd in terms of population. Nearly 4.6million people, (close to 12% of the total population of Poland), live in this relatively small territory of 12,333 km2.

The Silesian Voivodeship has one

of the strongest economies in

Poland.

Over 12% of the gross domestic product (GDP) is generated here

ECONOMY

highly ranked investment

attractiveness; due to the large

resources of qualified labour,

the industrial tradition of the

region, & very well developed business, economic & social

infrastructure

INVESTMENT

The region has an extensive transport

infrastructure.

Approximately 50% of the national rail

transport takes place in the Silesian

Voivodeship.

Katowice Airport is a regional cargo

transport hub

TRANSPORT

In 2015, the proportion of

people of working age was 62.5%;

close to over 2.8 million.

Almost 8.5 million people live in a

100 km radius of Katowice

HUMAN CAPITAL

There are 38 higher education

institutions in Silesia,

including universities & technical, Economic &

education colleges.

In total, they provide education

to 119,000 people

EDUCATION

Key Features5

Gdansk

Warsaw

Krakow

Katowice

rathdowneyresources.com

Commitment to Stakeholder EngagementRathdowney places a high value on its relationships with local communities and stakeholders. We believe that the best way to ensure project success is to work together with local communities throughout the project evaluation and design.

In our experience, such partnerships help focus mineral project evaluation and development in a manner that address local interests and maximizes benefits for local communities.

Strategically Positioned in a Tightening Zinc Market

Rathdowney continues to invest in Poland to advance Project Olza in a manner that protects important natural resources, respects local priorities and concerns, and provides meaningful benefits to surrounding communities.

Since exploration commenced in 2011, Rathdowney Polska has supported over 500 local initiatives in areas of health, well-being, education and sport, which benefit children, hospitals and social/cultural opportunities in local communities.

Ongoing initiatives include:• Active and positive engagement with all governments

(local and national) and other interested stakeholders• Successful community programs including: door to door visits,

community meetings, local events, meetings with local officials, open houses and site visits

• Support/sponsor a variety of initiatives and activities• Continuing to build trust with all stakeholders

Community Development

Stakeholder and Community Initiatives

zinc supply gap

STAKEholdERS

Positive Engagement with all Government and Communities

• Global demand for refined zinc is expected to increase 2.6% to 14.30 M tonnes in 2018

• At 247,850 tonnes, headline LME zinc inventory has fallen by 180,000 tonnes, or just over 40 percent, so far this year1

• Zinc is a top performer on the London Metals Exchange (LME) breaking through $3,000 a metric tonne ceiling (August 16, 2017) for the first time in over a decade2

• Insufficient mine supply expected to constrain refined production

1. Reuters2. London Metals Exchange3. Based on Bloomberg; Scotiabank

GBM Estimates

Project Olza sponsorship of Warta Zawiercie football teamProject Olza Open House

Over 500 community groups and town hall meetings completed since 2010

• Tight supply fundamentals • Zinc Mine Supply has declined • ~6% of world zinc production removed.

• Total Global Zinc Inventories continue to rocket downwardsZinc Visible Inventories vs.

Days of Forward Consumption vs. Zinc Price2004 - 2021E3

January 2018

This investor brochure includes certain statements that may be deemed “forward-looking statements”. All information contained in this presentation relating to the contents of the Preliminary Economic Assessment (PEA) of the Olza zinc-lead project (Project Olza) in Poland, including but not limited to statements of the Project Olza’s potential and information are “forward looking statements”. Although Rathdowney (RTH) believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by Rathdowney to develop forward-looking statements include the following: Project Olza will obtain all required environmental and other permits and all land use and other licenses, studies and development of the Project Olza will continue to be positive, and no geological or technical problems will occur. Additional information on assumptions for the PEA is available in the Technical Report.

The PEA was prepared to broadly quantify the project’s capital and operating cost parameters and to provide guidance on the type and scale of future project engineering and development work that will be needed to ultimately define the project’s likelihood of feasibility and optimal production rate. The following are the principal risk factors and uncertainties which, in management’s opinion, are likely to most directly affect the conclusions of the PEA and the ultimate feasibility of the project. The PEA is based on the

Rathdowney Resources Ltd.15th Floor - 1040 W. Georgia St.Vancouver, BC Canada V6E 4H1Investor ServicesRoger Blair (VP | Investor Relations) rogerblair@rathdowneyresources.com Direct: +1 (604) 684-6365 Toll Free: +1 (800) 667-2114

inferred resources estimated by Hunter Dickinson Services Inc. (HDSI) and audited by SRK Consulting (UK) Ltd (SRK). Additional exploration, process tests and other engineering and geological work will be required to estimate indicated or measured mineral resources at Project Olza and if an economically exploitable reserve can be established. Final feasibility work has not been completed to confirm the underground design, mining methods, and processing methods assumed in the PEA. Final feasibility could determine that the assumed underground design, mining methods, and processing methods are not correct. Construction and operation of the mine and processing facilities depends on securing environmental and other permits on a timely basis. No permits have been applied for and there can be no assurance that required permits can be secured or secured on a timely basis. Data is incomplete and cost estimates have been developed in part based on the expertise of the individuals participating in the preparation of the PEA and on costs at projects believed to be comparable, and not based on firm price quotes. Costs, including design, procurement, construction, and on-going operating costs and metal recoveries could be materially different from those contained in the PEA. There can be no assurance that mining can be conducted at the rates and grades assumed in the PEA. Energy risks include the potential for significant increases in the cost of fuel and electricity. The PEA assumes specified, long-term prices levels for zinc and lead. Prices for these commodities are historically volatile, and RTH has no

control of or influence on those prices, all of which are determined in international markets. Prices for zinc and lead have been below the price ranges assumed in PEA at times during the past ten years, and for extended periods of time. There can be no assurance that the prices of these commodities will continue at current levels or that they will not decline below the prices assumed in the PEA. The project will require major financing, probably a combination of debt and equity financing. Interest rates are at historically low levels. There can be no assurance that debt and/or equity financing will be available on acceptable terms. A significant increase in costs of capital could materially and adversely affect the value and feasibility of constructing the project. Other general risks include continuity of mineralization, those ordinary to large construction projects including the general uncertainties inherent in engineering and construction cost, the need to comply with generally increasing environmental obligations, and accommodation of local and community concerns, potential environmental issues or liabilities associated with exploration, development and mining activities, exploitation and exploration successes, delays due to third party opposition, and changes in government policies regarding mining and natural resource exploration and exploitation. Rathdowney is also subject to the specific risks inherent in the mining business, as well as general economic and business conditions. For more information on Rathdowney, investors should review RTH’s filings that are available at www.sedar.com.

January 2018rathdowneyresources.com

RATHDOWNEY MANAGEMENT AND BOARD

Experienced Polish & Canadian development team with strong project management, project finance & technical capabilities

David J. Copeland ChairmanDave Copeland is a professional engineer and mining executive with over 30 years’ experience in advancing global mineral projects through feasibility, permitting, engineering design and initial development phases. Robert Konski President & CEORobert Konski has over 25 years’ experience as an executive and strategic advisor to the management of public/private companies and the government in Poland. He holds an M.P.A. from the JFK School of Government at Harvard University.Andrew Ing Chief Financial Officer Andrew Ing is a finance-corporate development professional with more than 10 years of experience in project finance, risk management and corporate governance, and is a Chartered Accountant with considerable Corporate Finance experience.Trevor R. Thomas SecretaryTrevor Thomas is corporate secretary and has practiced in the areas of corporate commercial, corporate finance, securities and mining law since 1995, both in the private practice environment as well as in-house positions.

Lena Brommeland General Manager, Poland Lena Brommeland has a degree in geology and more than 20 years’ experience managing major exploration and development around the world. Doug Nicholson Senior Project Development Manager, PolandDoug Nicholson is a mining engineer with more than 25 years of progressive experience in project management, mine development and mine operations.Barbara Chammas Community Relations & Environment, Poland Barbara Chammas has an advanced degree in Environmental Engineering, a certificate in Mid-Management and Business Administration and over 10 years’ experience in public consultation and water management in Poland.Roger Blair Vice President Investor RelationsRoger Blair is a marketing and communications professional with extensive experience in the corporate communications and investor relations field.

David Copeland, Robert Konski, Michael H. Nolan, Rene G. Carrier, Barry Coughlan, Lena Brommeland, George Ireland

MANAGEMENT TEAM TECHNICAL TEAM

BOARD OF DIRECTORS

TSXV: RTHRathdowney Resources Ltd.15th Floor - 1040 W. Georgia St.Vancouver, BC Canada V6E 4H1Investor ServicesRoger Blair (VP | Investor Relations) rogerblair@rathdowneyresources.com Direct: +1 (604) 684-6365 Toll Free: +1 (800) 667-2114

TSXV: RTH