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(1)

Lac Guéret Graphite Project

Developing a world-class flake

graphite deposit in Quebec

Corporate Presentation - May 2014

(2)

Forward Looking Information: This Presentation may contain “forward-looking information” which may include, but is not limited to, statements with respect to: anticipated timing of the receipt of governmental approvals and/or acceptances; targets, estimates and assumptions in respect of production and prices; estimates regarding amount and type of future capital expenditures and capital resources; mineral reserves and mineral resources; anticipated grades; expected recovery rates; future financial or operating performance; costs and timing of the development of new deposits; costs, timing and location of future drilling; production decisions; costs and timing of construction; estimates regarding operating expenditures; costs and timing of future exploration; and environmental and reclamation expenses. Generally, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative 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 factors which may cause the actual results, performance or achievements of the Company and/or its subsidiaries and/or its affiliated companies to be materially different from those anticipated in such statements. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation of which the information is derived from and the Company has disclaimed any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except in accordance with applicable securities law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

Unless indicated otherwise, all dollar figures are in Canadian dollars.

Cautionary Notes related to the PEA: A preliminary economic assessment (PEA) is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized. Full technical details and notes for the PEA can be found in the technical report entitled “NI 43-101 Technical Report on the Preliminary Economic Assessment, Lac Guéret Graphite Project, Quebec, Canada” dated June 6, 2013 and effective April 22, 2013, which is available under Mason Graphite’s profile on SEDAR at www.sedar.com and on Mason Graphite’s website at www.masongraphite.com.

Cautionary Statement regarding Mason Graphite’s estimated timeline for production: Mason Graphite has not made a production decision. A decision to proceed with production will be based the results of a feasibility study demonstrating economic and technical viability. The production timeline in this presentation assumes that Mason Graphite will complete a feasibility study and that the results of such feasibility study will be positive. The timing and results of such study are not guaranteed and no inference should be made in this regard.There is no certainty that the events outlined in the timeline will be realized.

Cautionary Statements Regarding Mineral Resource Estimate: Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. Environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues may materially affect the estimate of Mineral Resources. In addition, there can be no assurance that Mineral Resources in a lower category may be converted to a higher category, or that Mineral Resources may be converted to Mineral Reserves.

Quality Control and Assurance: The scientific and technical content of this presentation was reviewed and approved by Mason Graphite’s Executive Vice President of

Process Development, Jean L’Heureux, P.Eng., who is a Qualified Person within the meaning of National Instrument 43-101. M

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TSX.V: LLG OTCQX: MGPHF

3

Solid Fundamentals for Success

* Please refer to the press release dated February 22, 2013 for details on metallurgical test results.

** Please refer to the PEA technical report entitled “NI 43-101 Technical Report on the Preliminary Economic Assessment, Lac Guéret Graphite Project,

Long mine life at high grade

Annual production of 50,000 tonnes for 22 yrs 27.4% Cgr

Low capital intensity project; excellent economics

Direct capital cost requirement of $89.9 million

Production costs of $390/tonne

Internal Rate of Return of 33.7%

Excellent recovery of high quality graphite

Only flake graphite (29% large flake graphite: +50, +80 mesh)

Graphite recovery in excess of 96%

Purity of 99.9% Cg achieved in preliminary purification trials

Located in excellent mining jurisdiction of Quebec, Canada

High Quality Project

Graphite is an essential and highly desirable

product with increasing consumption and demand

Necessary Product

(4)

The Value of High Grade Graphite

Company

Market Cap

(April 30, 2014)

Grade (Cg)

Cut-off Grade

Recovery

Northern Graphite Corp. (TSX: NGC)

$36.4M

1.81%

0.98%

97%

Focus Graphite Inc. (TSX: FMS)

$56.7M

15.76%

5%

92.5%

Energizer Resources (TSX: EGZ)

$36.3M

6.36%

2%

96.2%

Syrah Resources (ASX:SYR)

$600.6M

19.9%

13%

87%

Zenyatta (TSX: ZEN)

$181.7M

3.89%

0.6%

n/a

Flinders Resources Ltd. (TSX: FDR)

$42.5M

10.50%

7%

96%

Mason Graphite (TSX: LLG.V)

$44.9M

15.6%

5%

+96%

If you can meet the customer's specifications via good

metallurgy

(particle size, recovery and carbon content)

, then its all about grade;

as a higher grade typically results in lower costs of production.

M&I Mineral Resources include:

6.7 Mt grading 32.4% Cg

PEA Results

(April 2013)

:

First 22 yrs of production at 27.4% Cg

(5)

Graphite, along with diamonds and Coal, are crystalline forms of Carbon

Graphite 101

Graphene - Individual layers -

Graphite - Combined layers

Graphite is an essential but often unrecognized material for modern life

It has broad range of industrial applications due to its unique properties:

Properties of both metals and non-metals (ideal for industrial applications)

Highest natural strength and stiffness of any material

Lightest weight of all reinforcement materials

Very high melting (sublimation) point; low thermal expansion/shrinkage

High electrical and thermal conductivity

Low frictional resistance (excellent lubricant) and hydrophobic behaviour

Non-toxic, chemically inert and high resistance to corrosion

Properties vary

depending on the

purity and size of the

graphite crystals;

this directly affects

the price of the

resource

Details of Mason Graphite’s investment in NanoXplore can be found on slide 30.

(6)

Flake

Graphite:

Graphite – Over 180 End Products

Flake Amorphous Vein/Lump Synthetic

Metallurgy (40%)

Refractories

Crucibles

Carbon Raisers

Moulds & Castings

Molten Metal Protection

High Temperature Lubricants

Powder Metallurgy & Alloys

Electrical Applications (25%)

Alkaline & Lithium Batteries

Li-ion Batteries

Fuel Cells

Carbon Brushes

Technical Applications

Expanded Graphite & Foils

Thermal Management

Flame Retardants

Brake Linings & Clutch Facings

Insulation

Nuclear Reactors

Plastics, Resins & Rubbers

Catalysts

Cloth & Fibers

Others

Pencils

Lubricants

Oil Drilling Additives

Widest range of end uses

Increasing demand for

high purity flake graphite

No substitute:

Synthetic graphite has high

purity but is 4x the cost

Synthetic graphite (USD $7,000-20,000/t)

Natural flake (USD $2,000-3,000/t)

Flake graphite used in

(7)

3 Forms of Graphite

Flake

Highest Price, Lowest Supply

High Purity: 85%-99%+ carbon

Amorphous

Least graphitic of the three

Lower Purity: 60%-90% carbon

Vein/Lump

Uncommon & highly localized;

<1% of world production;

Marginal applications

45% 55%

Global

Production

Graphite is not a homogenous commodity; it occurs naturally in 3 forms:

Flake size and purity directly affects the price

Natural medium/large flake graphite forecasted

between USD$1,750 and USD$2,500/t

August 2013 ($USD): Amorphous: $525 /t Small Flake:$1,050 /t Medium Flake: $1,200 /t Amorphous Large Flake Medium Flake Small Flake

(8)

China represents +70% of world production

China has experienced a significant increase in domestic demand

Export tariffs and new safety and environmental regulations have resulted

in a reduction of export supply and an increase in prices.

China is experiencing a reduction of large and medium flake production

Graphite – Investment Opportunity

Global consumption of natural graphite has doubled from 2000 to 2010

Urbanization of China and India is driving the demand of graphite

For graphite used in the battery application alone,

demand is expected to increase from 125,000 tons in 2010

to 320,000-640,000 tons in 2020;

a growth rate of 10-18%

*

European Union declared graphite as one of 14 critical raw materials

0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000

2000

2010

Graphite Global Consumption

Ton

n

e

s

Restricted and Unstable Supply in China = Opportunity

Flake graphite production outside of China:

(9)

How is graphite sold?

Graphite is not an openly traded mineral

Prices are negotiated between end-users and

producers for annual or multi-year contracts

Prices for graphite vary based on parameters

such as purity, size, impurities and shape

Continuous contact with customers is fundamental

There is a market for 100% of mined

graphite material (from large to fine flakes)

Market Study is underway to identify

all end-users in all market segments

Graphite Mine

Inventory of different sizes for different uses and end users

End-Users

Typical one-year supply contracts establishing

prices, specifications, volume, timing and delivery

The finished graphite product of a mine must be adapted to the buyers

Requires the right finished product

Requires strong relationships with clients

Management with over 5 decades of experience

(10)

Management: P

roven Track Record

Benoît Gascon,

CPA, CA

Luc Veilleux,

CPA, CA

Jean L’Heureux,

Eng.

20 years of executive

positions at Timcal

20 years in mining and

graphite, Timcal and Imerys

8 years in graphite at

Timcal

Previous Roles:

Senior Vice-president, Business

Development and Strategy, Sales and

Deputy General Manager (11 yrs)

President of Stratmin Graphite Inc.

from 1993 to 1999; renamed Timcal

Canada in 1999 (7 yrs)

Vice-president and CFO (4 yrs)

Previous Roles:

Senior Vice-president, Finance

COO North America

Vice-president, Finance North America

Financial Controller

Previous Roles:

Product Manager (Marketing)

Graphite Sourcing Manager

Production Manager

Plant Metallurgist & Lab Supervisor

Major Accomplishments:

Creation of a whole customer

base for Stratmin in the 1990’s

Acquisition and integration of

a private company in China

Supervision of nine sites in seven countries

Operational merger of Stratmin and Timcal

Major Accomplishments:

Implementation of a new production

organizational structure

Operational merger of

Stratmin and Timcal

Reorganization and improvement of

North American customer support

Major Accomplishments:

Optimization of the graphite flow sheet

Sales growth through technical support

to production & customers

Development of customers’

specifications management system

Development of production

planning system

(11)

Management Team

Benoît Gascon

, President & CEO

Over 20 yrs of experience in the Graphite & Carbon industries. He was the CEO of

Stratmin Graphite

which operates the Lac-des-Iles deposit;

one of North America's only producing graphite mines. He was responsible for negotiating the complete take-over of Stratmin Graphite by

Imerys

SA

, a world leader in Industrial Minerals, to form

Timcal Graphite & Carbon

. Mr. Gascon, CPA, CA, holds a bachelor’s degree in Business

Administration from Haute Etudes Commerciales (HEC, Montreal).

Luc Veilleux

, Executive Vice-President & CFO

Luc Veilleux, CPA, CA, holds a Bachelor’s degree in Business Administration from Hautes Études Commerciales (HEC, Montreal) and has over

20 years of experience in the mining and manufacturing industries including eight years at

Timcal

in the roles of Chief Financial Officer (based in

Switzerland), COO and Vice-President of Finance (North America), and Controller for the Lac-des-Iles graphite mine.

Jean L’Heureux

, Executive Vice-President, Process Development

Mr. L’Heureux is a professional metallurgical engineer who has been involved in the mining and processing of graphite for over 20 years with the

Imerys SA

in Quebec and in Europe. Since 2000, he has been the Product Manager, Refractory and Metallurgy for

Timcal

. Mr.

L’Heureux

obtained his Bachelor of Engineering degree at Laval University in Quebec City and is currently enrolled in a

Master’s Degree in Engineering

Management at Sherbrooke University. Mr. L’Heureux is a member of the Ordre des Ingénieurs du Québec.

Simon Marcotte

, Vice-President Corporate Development

Over 15 years of capital market experience. He was a partner of Cormark Securities for 4 years (institutional equity sales) and was also a member

of their Board. Previously, Mr. Marcotte was a Director for CIBC World Markets in Montreal for 8 years and also acted as an officer for

Alderon

Iron Ore

. He is currently an officer of

Belo Sun Mining

and a board member of

Copper One

and

Arena Minerals

. Mr. Marcotte holds a B.A.A.

from Sherbrooke University and is a Chartered Financial Analyst (CFA).

Yves Caron, P. Geo., M.Sc.

,

Director of Geology and Exploration

Mr. Caron brings over 20 years of geological experience and an extensive knowledge in mining exploration and the minerals industry. Most

recently, Mr. Caron was Exploration Vice-President for

Nemaska Lithium Inc.

where he participated to their Whabouchi project development. He

also had previously worked as senior project manager at

North American Palladium Ltd.

Member of the association of professional geologists of

Quebec (OGQ), Mr. Caron holds a Master’s in Earth Sciences from INRS and a bachelor’s degree in economic geology from UQAM.

(12)
(13)

Lac Guéret - Location & Access

288 km from Baie-Comeau

service centre, + 660 km to Montreal

All-weather access from

Hwy 389 and main logging

roads throughout property

Good accessibility to labour

Excellent mining jurisdiction

Extensive logging road system throughout the

Lac Quéret property and to Baie Comeau

(14)

Only zone

drilled to date

Mason Graphite Claims Map

Mason Graphite’s

properties consist of 215

claims covering 11,630 ha

(116 km

2

) in northeastern

Québec

(15)
(16)
(17)

Two main graphite zones have

been identified to date

Two Major Graphite Zones

km

GC Graphite Zone

1.2 km strike, up to 240 m wide

New mineral resource issued in

December 2013 shows +600%

increase in M&I resources

Excellent resource growth potential

GR Graphite Zone

1 km strike, up to 110 m wide

2,321 m of drilling completed in 2012

Further drilling planned and expected

to contribute to mineral resource

GC Zone

GR Zone

(18)

GC Zone Mineral Resource

(Dec 2013)

Categories

Unit

Tonnes

Grade

( Cgr)

Measured (M)

U1/U2 (5 to 25 % Cg)

U3 (> 25 % Cg)

4,052,000

465,000

13.4%

33.8%

All units

4,517,000

15.5

%

Indicated (I)

U1/U2 (5 to 25 % Cg)

U3 (> 25 % Cg)

39,300,000

6,207,000

13.0%

32.3%

All units

45,507,000

15.6

%

M & I

U1/U2 (5 to 25 % Cg)

U3 (> 25 % Cg)

43,352,000

6,672,000

13.0%

32.4%

All units

50,024,000

15.6%

Inferred

U1/U2 (5 to 25 % Cg)

U3 (> 25 % Cg)

9,224,000

2,637,000

13.3%

30.5%

All units

11,861,000

17.1%

Mineral Resource

July 2012

7,595,900 tonnes

Mineral Resource

Dec 2013

50,024,000 tonnes

Based on about

26,500 metres

of drilling

GC Zone Resource

(19)

Metal Equivalence

Source: TD Securities research department (Craig Miller) 2012

Graphite

(@ $1,750)

20.40%

=

Gold

(@ $1,250)

9.1 g/t

Silver

(@ $14)

800 g/t

Copper

(@ $2.75)

6%

=

=

Dec 2013 mineral resource:

M&I = 50Mt grading 15.6% Cg, including 6.7Mt grading 32.4% Cg

*PEA indicates 22 years of production at 27.4% Cgr

(20)

Mineral Resource Comparison

Million Tonnes (Measured & Indicated Mineral Resources)

Gr a d e % C g Mineral growth expected based on future prospective exploration targets

(21)

Rapid Resource Growth

Only 170 holes

(about 26,500 metres)

Have been drilled on the

Lac Guéret property to date.

The new mineral resource estimate is based

on drill data from the GC Zone (at left), which

represents only one of two mineralized zones

identified on the Lac Guéret property to date.

(22)

Excellent Metallurgy

Graphite recoveries in excess of 96%

Concentrate purity of 96.3% for the +150 mesh cumulative

29% of +80 mesh cumulative, including 16% of +50 mesh

Flake Size

Distribution

(%)

Carbon Content

(% Cg)

+50 mesh (Large Flake)

16%

96.3%

+80 mesh (Large Flake)

13%

96.4%

+150 mesh

14%

96.2%

-150 mesh

57%

91.7%

Total / Average

100%

93.7%

(23)

TSX.V: LLG OTCQX: MGPHF

22 years of production at 27.4 % Cg

Direct capital costs of $89.9M

Production costs of $390/tonne

$364M pre-tax NPV @ 8 % ($283M @ 10 %)

33.7 % pre-tax Internal Rate of Return

Payback period of 2.5 years

Only flake graphite (29% large flake)

Conservative average sales price of $1,525/t

Low capital intensity and low operating costs

PEA Financial Results

April 2013

23

Cautionary Notes related to the PEA: A preliminary economic assessment (PEA) is preliminary in nature and includes Inferred Mineral Resources, which are considered too geologically speculative to have mining and economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the reserves development, production, and economic forecasts on which the PEA is based will be realized. Full technical details and notes for the PEA can be found in the technical report entitled “NI 43-101 Technical Report on the Preliminary Economic Assessment, Lac Guéret Graphite Project,

Updated Mineral

Resource Estimate

announced

December 5, 2013

is expected to

positively affect the

(24)

50 000 tonnes per year of production

27.4 % Cg in mineralization over LOM

Graphite Recovery above 96 %

Up to 96.4 % Cg of finished product purity

Stripping ratio of 0.76:1

Process resulting in +96% recoveries

PEA Operational Results

(25)

TSX.V: LLG OTCQX: MGPHF

Preliminary Purification Test Results

September 2013

25

Flake Size

Graphite (Cg)

+48 mesh

99.6%

+80 mesh

99.7%

+150 mesh

99.9%

Purity of 99.9% Cg achieved in

preliminary purification trials

(26)

6. Sieving

1. Mining

2. Crushing

3. Milling & Flotation

4. Dewatering

Flow Sheet

PEA Technical Report - April 2013

Simple process

(27)

TSX.V: LLG OTCQX: MGPHF

2012

2013

2014

2015

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

Completion of 26,500 m Drilling Program

Completed Metallurgical Test Work

Completed PEA

Purification Testing

NI 43-101 Mineral Resource Update

15,000 m Drilling Program

Further Metallurgical Testing

Piloting and Bulk Sample Testing

Completion of Feasibility Study

Environmental Baseline Studies

Construction Financing

Expected Construction Start

Expected Production Start

Recent & Expected Upcoming Milestones

27

Mason Graphite has not made a production decision. A decision to proceed with production will be based on the results of a feasibility study demonstrating economic and technical viability. All reference herein with respect to production and anticipated timelines for production assume that Mason Graphite will complete a feasibility study and that the results of such

(28)

Corporate Structure

Corporate Structure

(As at April 30, 2014)

Shares Outstanding

Options

Warrants

Fully Diluted

85,786,034

6,410,000

30,106,187

122,302,221

Analyst Coverage

Daniel Greenspan

Cash Position

Last reported quarter

(Fiscal Q2 ending Dec. 31, 2013)

$2.7M

Bought Deal Private Placement

(Including $3.0M from Ressources Québec; Closed April 28, 2014)

$11.5M

Sodémex; Fonds de solidarité FTQ;

Fonds regional de solidarité FTQ

Côte-Nord

(Agreement for additional financing through convertible debentures announced April 28, 2014*)

$4.15M

Trading Symbols

TSX.V:

LLG

(Listed since Oct. 30, 2012)

OTCQX:

MGPHF

(Listed since Nov. 12, 2013)

Mason Graphite is

recognized as one of

the top ten performing

mining companies on

the TSX Venture in 2013

(29)
(30)

40% interest in NanoXplore Inc.

Private R&D company focused on developing low cost,

large-scale production of graphene from natural flake graphite.

NanoXplore's proprietary technique is a low cost, low energy, safe and scalable

electrochemical conversion method which turns natural flake graphite into graphene.

Mason Graphite owns 40% interest in NanoXplore Inc.

(First tranche completed Feb 18, 2014; second tranche completed April 30, 2014)

Mason Graphite acting as the sole NanoXplore sales, marketing and distribution agent

Benoit Gascon appointed Chairman of NanoXplore’s Board

(31)

Board of Directors

Tayfun Eldem

, Chairman

Mr. Tayfun Eldem currently serves as the President and CEO of

Alderon Iron Ore Corp.

He has worked for the Iron Ore Company of

Canada

(“IOC”), a Rio Tinto subsidiary, for more than 20 years, including three years as a Director on the joint-venture Board. Mr. Eldem

holds a Bachelor of Engineering degree from Dalhousie University along with Operations & Strategic Management Certificates from Richard

Ivey School of Business and London Business School.

Tyrone Docherty

, Vice-Chairman

Mr. Docherty has over 25 years of experience in the resource industry. He was previously CEO of

Quinto Mining Corporation

and

President, CEO and Director of

Deer Horn Metals

. Mr. Docherty is an active board member of a number of other public and private mining

companies.

Scott Moore

, Director

Mr. Moore is a finance executive with over 20 years of experience in the resource sector. He presently serves as Chairman & CEO of

Copper

One

and COO of

Forbes & Manhattan, Inc.

and previously acted as President for

Dacha Strategic Metals Inc.

and VP of Corporate

Development for

Sulliden Gold Corp. Ltd.

He holds a Bachelor of Arts degree from the University of Toronto and an MBA from the Kellogg

School of Management.

François Laurin

, Director

Former CFO of

Consolidated Thompson Iron Mines Ltd. (CLM)

. He is currently the CFO of

Alderon Iron Ore Corp

.; and formerly acted

as President and CEO of

Cap-Ex Ventures Inc.

and CFO of

Copper One Inc.

, two exploration mining companies listed on the TSXV.

Alastair Neill

, Director

Mr. Neill is currently an executive VP of

Dacha Strategic Minerals Inc.

who holds a Master of Business Administration from York University

and a Bachelor of Engineering in Material Science from the University of Western Ontario. He is the former VP sales, Rare Earth Division and

VP Business Development for AMR.

(32)

Backed by the Forbes&Manhattan Group

*Excellent track record of success in the Labrador Trough*

Stan Bharti

Founder & Executive Chairman

Over 50 engineers

Over 50 geologists

Expertise in all mining,

energy and agriculture

products

8 full-time

securities lawyers

and support staff

Over 30 people

with expertise in

 M&A  Investment banking  Corporate Finance  Corporate Development  Investor Relations

Over 20 accounting

and administration

staff

Advisory

Board

Technical

Team

Legal

Team

Financial

Team

Admin /

Accounting

Team built on technical/operational expertise

Accomplished financial markets professionals

(33)

Lac Guéret – Project History

1950’s

Exploration for iron by

Quebec Quartier Mines

2002-2006

Quinto Mining Corp.

exploration activities

2012

Mason Graphite acquires

Lac Guéret from Cliffs

Natural Resources

2008

Consolidated Thompson

acquires Quinto Mining

Acquisition Terms with Cliffs Resources ($USD)

$15,000,000 total acquisition cost for 100% of the project

$7,500,000 payment completed on April 5, 2012

$2,500,000 payable upon completion of a Feasibility Study*

$5,000,000 payable upon commencement of commercial production*

2,041,571 warrants @ $0.75 (expires in April 5, 2014) issued

to Quinto Mining (sub. of Cliffs Resources)

No remaining legacy interest exists,

no royalties

*

If the feasibility study is not completed by April 5, 2015, Mason Graphite is required to pay (a) $1,250,000 on April 5, 2015, and (b) $1,250,000 on the earlier of (i) the fifth business day following the day on which a feasibility study is completed; and (ii) October 5, 2015. If commercial production is not achieved by October 5, 2016, Mason Graphite is required to pay (a) $2,500,000 on October 5, 2016; and (b) $2,500,000 on the earlier of (i) the fifth business day following the day on which commercial production is achieved; and (ii) April 5, 2017

2011

(34)

2012

2013

2014

2015

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

Fauna & Flora Inventory

IBA

ESIA & BAPE

Certificate of Authorization

Completed and Expected Upcoming Milestones:

1) Q1 2013 – Fauna and Flora Inventory Preliminary Report by Roche

2) Q4 2013 – Fauna and Flora Inventory Final Report by Roche

3) Q4 2013 – Completion of Impact and Benefits Agreement (IBA)

4) Q2 2014 – Completion of Environmental Social Impact Assessment (ESIA)

and Public Hearings on the Environment (BAPE) by Roche

5) Q1 2015 – Completion of Certificate of Authorization

5

3

4

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First Nations

No one residing near the planned operations

or in the vicinity of the Lac Guéret project

Successful dialogue since early 2012

Consent for drilling obtained in April 2012

Ongoing discussions and negotiations for

completion of the Impact Benefit Agreement

(IBA) – Expected in 2013

Pessamit is the Innu First Nation

community 60 km west of Baie Comeau

Pessamit

Lac Guéret Deposit

(37)

Head Office (Greater Montreal)

3030 Le Carrefour blvd., Suite 600

Laval, QC, H7T 2P5

T

+1 (514) 289-1180

F

+1 (514) 289-0958

Toronto Office

65 Queen Street West, Suite 800

Toronto, Ontario M5H 2M5

T

+1 (416) 861-1685

F

+1 (416) 861-8165

TSX.V:

LLG

OTCQX:

MGPHF

References

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This presentation contains “forward looking information” which may include, but is not limited to, statements with respect to the future financial and operating performance of

Forward-looking information may include, but is not limited to, statements with respect to the future financial or operating performances of the Corporation,

This MD&amp;A contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial or operating performance of the

In words, even when market is incompletely covered by labeled products under perfect information, the pooling equilibrium that obtains under imperfect information will lead to