Corporate Presentation October 2018

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1 AM Resources (TSXV: AMR) Corporate Presentation October 2018

2 Forward-Looking Statements This presentation contains certain forward-looking statements, including, but not limited to, statements regarding the Corporation s strategic plans, timetables, the evolution of mineral reserves and resources, mine operating costs, capital expenditures, work programs, development plans, exploration programs, objectives, budgets and the possible determination of additional reserves. Forward-looking statements express, at this date, the Corporation s plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of metals, mining industry risks, exploration risks, environmental risks and hazards, uncertainty as to calculation of mineral reserves, requirement of additional financing or additional permits, authorizations or licenses, and risks of delays in construction and production. The scientific and technical content of this presentation has been reviewed and approved by Pierre O Dowd, P. Geo., a qualified person as defined by NI AM Resources (TSXV: AMR) 2

3 Profile AM Resources (TSXV: AMR) is a diversified mining company involved in the acquisition, development and production of mineral properties in Colombia: - Growing producer of coal used by local thermal power plants - Development of an asphaltite project geared towards local and export markets - Also engaged in gold brokerage activities through its subsidiary AM Resources Trading Corporation. On August 22, 2018, AM Resources announced a game-changer transaction with the signing of a conditional purchase order to acquire a $37 million USC machine capable of converting coal into biodiesel. AM Resource is well financed, with over $1.9 million of cash on hand. Its long-term goal is to generate cash flows and dividends for its shareholders. AM Resources (TSXV: AMR) 3

Furthermore, 94% of its coal is high quality, classified as hard, with high heat-generating capacity.

4 Colombia - Mining and Energy > Mining-friendly jurisdiction > Strong discovery potential An established world producer Fifth-largest exporter of coal in the world: Colombia produced 89.4 million metric tons in Furthermore, 94% of its coal is high quality, classified as hard, with high heat-generating capacity. One of the largest producers of biodiesel, reaching 513,000 metric tons in Fifth-largest gold producer in Latin America (18 th producer worldwide), with 42 metric tons in AM Resources (TSXV: AMR) 4

5 A Growing Company Financial results Period ended June 30, 2018 (In Canadian dollars) Coal sales Q Q M M , , , ,426 Transportation services 320,243 93, , ,153 Other 1, ,979 1,070 Total revenues 738, ,958 1,488, ,649 Net loss (3,604,968) (108,342) (3,627,551) (169,558) 2018 trailing twelve-month revenues increased 440% to $2.7 million, compared to $0.5 million a year earlier. Q net loss of $3.6 million mainly due to one-time $2.9 million reverse takeover listing fees and a $0.3 million share-based payment. AM Resources (TSXV: AMR) 5

6 Main Projects Mico (gold) Rio Negro (asphaltite) Mina Luz (coal) AM Resources owns 80% of the property mining rights, which consist of a mining concession covering 40 hectares. The property lies southwest of Popayan and 150 km southwest of Cali. Rio Negro (asphaltite) The Company owns 60% of the Rio Negro asphaltite property, which covers 97.5 hectares. The property lies 50 km north-northwest of Bucaramanga. Mina Luz (coal) Mico (gold) AM Resources can earn a 60% interest in the property by incurring minimum expenditures of $50,000 over a 12-month period. The property consists of one concession covering 10.4 hectares, and is easily accessible from the village of Barranco de Loba. Furthermore, the Company has filed an application to acquire an additional 6,000 hectares. AM Resources (TSXV: AMR) 6

7 Mina Luz (Coal) AM Resources generated revenues of $836,578 from coal sales for the first six months of 2018, compared to $246,426 a year earlier. Coal sales are based on a production rate of about 1,000 metric tons per month from the Mina Luz property and the purchase of 2,000 metric tons of coal for resale, for a total of approximately 3,000 metric tons. The goal is to increase the Mina Luz production rate to 3,000 metric tons per month by modernizing its operations, which should result in increased productivity and margins. The Company will then increase its production rate to 5,000 metric tons per month by completing a Programa de Trabajos y Obras (PTO) to obtain the required permit. AM Resources (TSXV: AMR) 7

Mina Luz (Coal) Investments required to increase production of Mina Luz property to 3,000 metric tons per month: - Purchase of equipment to improve extraction efficiency, including a transport truck

8 Mina Luz (Coal) Investments required to increase production of Mina Luz property to 3,000 metric tons per month: - Purchase of equipment to improve extraction efficiency, including a transport truck and tractor. - Purchase and installation of a truck scale for better inventory control. - Setting up of a control office for production activities and buying from subcontractors. - Improvement of site security by reinforcing production installations (entryways, structures, etc.). Mining activity AM Resources (TSXV: AMR) 8

9 Rio Negro Project (Asphaltite) The Rio Negro property area is well known for its asphaltite occurrences. Limited production took place on the property before a landslide and a tunnel collapse put an end to an illegal operation (before AM Resources acquired the property title). Production at La Tigra, Rio Negro s neighbour, is estimated at about 3,000 metric tons per month. Next steps: - Conduct a ground geophysics survey - Find the best access point to mine the mineral - Start production with an initial goal of 1,000 metric tons per month Target market: Local and North American construction companies. AM Resources (TSXV: AMR) 9

10 Mico Project (Gold) Located within the Serrania San Lucas, a geological environment well known for its orogenic gold potential, host to a vein-type gold system within volcanic rocks, close to the Norosi batholith. North-northeast striking, steeply dipping decimetre-size veins and veinlet stockwork with grades ranging from 10 to 30 g/t Au have apparently been found in the past. No modern geological work was performed on the property. Next steps: - Ground geophysics survey to confirm the property s potential - Drilling - Mine plan AM Resources (TSXV: AMR) 10

11 Gold Brokerage Activities Subsidiary AM Resources Trading Corporation was created in May 2018 to carry out its gold brokerage activities. Its activities consist of buying gold from artisanal producers and transporting it to refineries. Looking to acquire gold properties with artisanal production activities. AM Resources (TSXV: AMR) 11

Purchase of USC machine On August 22, 2018, the Company issued a conditional purchase order to Epic NRG LLC ( ENL ) for the acquisition of a USC machine capable to

The US $36,950,000 USC machine will be manufactured and financed by the vendor, meaning no share dilution for AM Resources.

12 Purchase of USC machine On August 22, 2018, the Company issued a conditional purchase order to Epic NRG LLC ( ENL ) for the acquisition of a USC machine capable to convert coal into biodiesel at a rate of 100 metric tons per day. The US $36,950,000 USC machine will be manufactured and financed by the vendor, meaning no share dilution for AM Resources. The purchase order is conditional upon ENL securing debt financing and providing a performance bond in favour of the Company covering the purchase price. This transaction will be a game changer for AM Resources: - Higher prices for biodiesel than for coal - Much higher margins AM Resources (TSXV: AMR) 12

13 Capital Structure Shares outstanding: 56,899,645 (27,503,628 shares escrowed until May 2021) Stock options: (average exercise price: $0.17) Warrants: (average exercise price: $0.23) Management holds 53.2% of the outstanding shares 1,950, ,304 Fully diluted shares: 59,383,949 Share price: (September 30, 2018) High-Low: (Since listing on May 15, 2018) Cash on hand: $0.21 $0.305 $0.115 $1.9 million AM Resources (TSXV: AMR) 13

14 Management Team and Board Dominic Voyer President and CEO Adriana Rios Garcia Chief Operating Officer Martin Nicoletti, CPA, CGA CFO and Corporate Secretary BOARD OF DIRECTORS Dominic Voyer Adriana Rios Garcia Martin Nicoletti David Grondin Wayne Isaacs Colombian operations managed on site by COO Adriana Rios Garcia AM Resources (TSXV: AMR) 14

Next Steps Increase Mina Luz coal production to 3,000 metric tons within the next 12 months. Start exploration programs for the Rio Negro and Mico properties in the fall of 2018.

15 Next Steps Increase Mina Luz coal production to 3,000 metric tons within the next 12 months. Start exploration programs for the Rio Negro and Mico properties in the fall of Mico (gold) Rio Negro (asphaltite) Acquire additional properties that will enable AM Resources to expand its coal, asphaltite and gold activities. Continue to work with Epic NRG LLC to finalize the acquisition of a USC machine, which will be a game changer for the Company. Mina Luz (coal) Add Picture or Map (will use stock photo if none) AM Resources (TSXV: AMR) 15

16 Contact Dominic Voyer President and CEO Head Office 500 Place d Armes Suite 1800 Montreal, QC Canada H2Y 2W2 AM Resources (TSXV: AMR) 16

AM Resources Corp. Management Discussion and Analysis (PREVIOUSLY NQ EXPLORATION INC.) For the six-month period ended June 30, 2018

AM Resources Corp. Management Discussion and Analysis (PREVIOUSLY NQ EXPLORATION INC.) For the six-month period ended June 30, 2018 (PREVIOUSLY NQ EXPLORATION INC.) Table of Contents Date 1.0 Caution regarding prospective information 2.0 Business description and continuity of operations 3.0 Mining assets and exploration expenses 4.0