South Star Battery Metals Corporate Presentation - March 2022

July 2019 Corporate Presentation
Santa Cruz
Road To Production in 2022
“Fundamental Value in a Premier Battery Metals Jurisdiction”
Corporate Presentation:March 2022
Graphite Project
TSXV: STS | OTCQB: STSBF

Cautionary and Forward-Looking Statements
www.southstarbatterymetals.com 2
This presentation includes certain statements that constitute “forward-lookingstatements”, and
“forward-looking information” within the meaning of applicable securities laws (“forward-
looking statements” and “forward-looking information” are collectively referred to as “forward-
looking statements”, unless otherwise stated). These statements appear in a number of places
in this presentation and include statements regarding our intent, or the beliefs or current
expectations of our officers and directors. Such forward-looking statements involve known and
unknown risks and uncertainties that may cause our actual results, performance or
achievements to be materiallydifferent from any future results, performance or achievements
expressed or implied bysuch forward-lookingstatements. When used in this presentation words
such as “believe”, “anticipate”, “estimate”, “project”, “intend”, “expect”, “may”, “will”, “plan”,
“should”, “would”, “contemplate”, “possible”, “attempts”, “seeks” and similar expressions are
intended to identify these forward-looking statements. Forward-looking statements may relate
to the Company’s future outlook and anticipated events or results and may include statements
regarding the Company’s future financial position, business strategy, budgets, litigation,
projected costs, financial results, taxes, plans and objectives. We have based these forward-
looking statements largely on our current expectations and projections about future events and
financial trends affecting the financial condition of our business. These forward-looking
statements were derived utilizing numerous assumptions regarding expected growth, results of
operations, performance and business prospects and opportunities that could cause our actual
results to differ materially from those in the forward looking statements. While the Company
considers these assumptions to be reasonable, based on information currently available, they
may prove to be incorrect. Accordingly, you are cautioned not to put undue reliance on these
forward-looking statements. Forward-looking statements should not be read as a guarantee of
future performance orresults.
To the extent any forward-looking statements constitute future-oriented financial information
or financial outlooks, such statements are being provided to describe the current anticipated
potential of the Company and readers are cautioned that these statements may not be
appropriate for any other purpose, including investment decisions. Forward-looking statements
are based on information available at the time those statements are made and/or
management's good faith belief as of that time with respect to future events, and are subject to
known and unknown risks and uncertainties, including those risks and uncertainties outlined
under “Risk Factors” in our most recent AIF, that could cause actual performance or results to
differ materially from those expressed in or suggested by the forward-looking statements. To
the extent any forward-looking statements constitute future-oriented financial information or
financial outlook, such statements are being provided to describe the current anticipated
potential of the Company and readers are cautioned that these statements may not be
appropriate forany other purpose, including investment decisions. Forward-looking statements
speak only as of the date those statements are made. Except as required by applicable law, we
assume no obligation to update or to publicly announce the results of any change to any
forward-looking statement contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions or changes in other factors
affecting the forward- looking statements, except as required by law. If we update any one or
more forward-looking statements, no inference should be drawn that we will make additional
updates with respect to those orother forward-looking statements. You should not place undue
importance on forward-looking statements and should not relyupon these statements as of any
other date. All forward-looking statements contained in this presentation are expresslyqualified
in their entiretybythis cautionarystatement.
Confidential Material - This document contains confidential and private material that shall not
be re-transmitted to other parties that not its original addressee. All information contained
herein are for informative purposes and shall not be regarded as an offer, solicitation for any
financial transaction nora valuation orcommitment of financial / technical performance.
Cautionary Note: This PEA is considered by STS to meet the requirements of a Preliminary
Economic Assessment as defined by Canadian Securities Administrators' National Instrument 43-
101 ("NI 43-101") Standards of Disclosure for Mineral Projects. The economic analysis contained
in the technical report is based, in part, on Inferred Resources (as defined in NI 43-101) and is
preliminary in nature. Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. There is no guarantee that all or any part of the Mineral
Resource will be converted into a Mineral Reserve. Inferred Resources are considered too
geologicallyspeculative to have mining and economic considerations applied to them and to be
categorized as Mineral Reserves (as defined in NI 43-101). Additional trenching and/or drilling
will be required to convert Inferred Mineral Resources to Measured or Indicated Mineral
Resources. Mineral Resources that are not Mineral Reserves do not have demonstrated
economic viability. There is no certainty that the reserve's development, production and
economic forecasts on whichthe PEA is based willbe realized.

Key Company Highlights
• Management team with proven track-record of taking
projects into production & operations in Brazil
• Plant construction planned for H2 2021
• Current market capitalization only 2.5% of project NPV
(pre-financing)
• Strong graphite demand in Brazil: high-tech battery market as
well as steel-making, foundries, lubricants, electronics and
automotive industries
• Graphite uses include: lithium-ion batteries, graphene, fire-
resistant insulation and coatings, and construction materials
• Two-phased approach to minimize risks and intelligently
allocate capital for shareholder value:
✓ Phase 1 – 5,000tpy Concentrate Pilot Plant
✓ Phase 2 – 25,000tpy Concentrate Plant
• Low CAPEX (<US$35M) in two Phases:
• Phase 1 – Pilot Plant (US$8M)
• Phase 2 – Large Plant (US$27M)
South Star Mining Highlights
Industrial
graphite
US$500 to US$2,500
per tonne
Battery grade
graphite
US$3,400 to
US$4,400 per tonne

SantaCruz project situated
in second-largestflake-graphite
producing districtin the world
Santa Cruz Graphite Project Advantages
Additional tests yielded
high-purity, battery-
quality products
Drill-ready targets
NI 43-101 PFS & updated
ResourceEstimate completed
Open-pit deposit within
13,000 ha property
Large Geologic Upside
95%
of project unexplored. Entire
land package mineralized according
to Brazilian Mining Authority
Open at depth & along strike
LARGE &
EXTRA-LARGE
graphite flakes
10-15
Completed bench scale
& 30 tonne pilot-plant
testing programs
Produced quality
concentrates and
marketable flake sizes
95-99% Cg
Excellent large flake ore
Approximately
65% of ore
> 80 Mesh
GEOLOGY,EXPLORATION& RESOURCES
METALLURGY & PROCESS
KEY PROJECT HIGHLIGHTS
“The larger the flake size,
the higher the price!”
Low impurities &
Highly- crystalline
structure
• 14% of global production in 2018

STS Share Information
Cap Table (000s)*
Stock Informationas of March, 2022
“Graphitedemandjust for battery storageis expectedtogrow 494% by 2050to a total demandof 4.6Mt.That
doesn’teven considergrowth comingfrom industrialor other high-techuses like grapheneor expandable.It is
one of the principal critical metals that will require the most investment. ”
Total Outstanding 102,533.5
Warrants @ $0.06 5,300 (Exp 05/2024)
Warrants @ $0.15 13,130 (Exp02/2024)
Warrants @ $0.15 9,315 (Exp02/2024)
Warrants @ $0.15 22,363 (Exp10/2024)
Options @ $0.15 90 (Exp06/2024)
Options @ $0.30 900 (Exp05/2022)
Options @ $0.45 500 (Exp08/2023)
Options @ 0.055 2,485 (Exp08/2025)
Options @ 0.25 120 (Exp 04/2023)
Fully Diluted 156,737
Market Cap @ CAD $0.15 $15.4M
Share of Mineral Demand fromEnergy StorageUnder
IEA 2DS Through 2050
Source:WorldBank 2DS scenario(2020)

Corporate Structure
• South Star Battery Metals Corp. is a public company,
traded on the Toronto Venture Stock Exchange under
the symbolSTS and on the OTCQBunder symbol
STSBF.
• BrasilGraphite Corp. is a wholly-owned subsidiary
incorporated in the Cayman Islands.
• BrasilGrafite Mineração Ltda. (“BGSA”) is a is a wholly-
owned exploration and development company
focused on developing the Santa Cruz Graphite Project
(“Project”) in the stateof Bahia, Brazil.
• BGSA owns 100% of the Santa Cruz GraphiteProject.
Brasil GrafiteCorp.
SouthStar Battery
Metals Corp.
(TSXV: STS)
Brasil Grafite
MineraçãoLtda
SantaCruz
Graphite Project
100%
100%
100%

Dave McMillan
Chairman
Priscila Costa
Lima
Indep. Director
Richard Pearce
Exec. Director
Eric Allison
Exec. Director
Dan Wilton
Indep. Director
Marc Leduc
Indep. Director
Richard Pearce
President &CEO
Eric Allison
Business Dev.
Samantha Shorter
CFO
CHF Capital
Markets
Investor Relations
Leadership Team
BOARD OF DIRECTORS
MANAGEMENT

Investment Highlights
Phase 1 Construction Ready
Simple
Operations
Fully Permitted & Licensed
Environmental & mining
Ready for Construction
Mining Friendly District
With 80 + years of graphite production
Simple, Proven Flowsheet
& Technology
Experienced Management
Proven mine & plant builders
No Tailings Dam
With small environmental footprint
Open-Pit Mining & No Drill & Blast
With low strip ratio
Excellent Infrastructure
With gas, electric and excellent logistics

Investment Highlights
Phase 1 De-risked
Established
utilities and
infrastructure
Proven tested
process circuit
All licenses &
permits are valid
& up-to-date
Low capital
intensity
Low
geological risk
LOW HIGH
MEDIUM
PROJECT RISK
Stepping
into production
in phases
Projected increase
In demand
Supply
imbalance
Supply-chain
diversification
Low
environmental risk
Low OPEX
in proven producing
district

Santa Cruz Graphite Project
INFRASTRUCTURE COMPETITIVE ADVANTAGES
Phase 1 Construction Ready
Excellent Infrastructure
Experienced
workforce
nearby
Power, gas,
water all
within 5 km
Major port
of Ilheus is
270 kmaway via
paved federal
highways
from paved
highway
1.3 km

ESG & Sustainability
ESG & Sustainable Production is part of our Corporate DNA
ENVIRONMENTAL + SOCIAL + GOVERNANCE
✓ Renewable sourcesprovide 80% of
Brazilianenergy generation
✓ Low cost, tax-incentive solar power
project being studied
✓ Sustainable tailings management
withfilteredtailings/dry stack
✓ Effectivewater management &low
freshwater demandwithprocess
water recirculated
✓ Waste characterizedas inert/non-
dangerous
✓ Low stripratio
✓ Low vegetationsuppressionfor
project construction(<2 ha)
✓ Committedtoprovide community
environmental education
✓ Progressive reclamation
✓ First major industry inthe region
✓ Committedtoresponsible, equitable
hiring practices inpartnershipw/
community/municipality
✓ Phase 1 – 60-65 Est. Direct Jobs
✓ Phase 1 – 350 Est. Indirect Jobs
✓ Phase 2 – 120-125 Est Direct Jobs
✓ Phase 2 – 700 Est. Indirect Jobs
✓ Committedtoprovide community
training & educational opportunities
✓ Focus on worker safety w/
compensationtiedtoperformance
✓ Committedtotransparency andopen
communication
✓ Committedto
community/stakeholder engagement
✓ Committedtoethical, professional
interactions
✓ Review, evaluateandupdate
regularly governance policies
✓ 2 Independent Directors
✓ Executive managementprimarily
lives inBrazil andis on-site and
hands-on
✓ TSX and OTC listing
✓ Auditedfinancials
✓ CompensationtiedtoESG
performance
✓ Committedtojoining key industry
organizations andESG frameworks
✓ Committedtotransparency and
opencommunications

Global Markets
ProjectedLarge Increase in Graphite Demand
• Brazil has a large internal demand for naturalgraphite (80-90kt/p.a.)
• Graphite has many uses outside of battery metals
• High-tech, graphene, military, etc.
• Naturalgraphite has advantages over synthetic:
• Lower cost
• Smaller environmentalimpact
• Easier to scale
• Higher energy density
• Need 10-15 new mines by 2025 to meet 2x
demand

Graphite Demand is in a PerfectStorm
For Battery Metals Supply
Global Markets
Source: 2020 World Bank - Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition 2DS Scenario
0%
1%
1%
4%
7%
9%
11%
18%
37%
56%
99%
189%
231%
460%
488%
494%
0% 100% 200% 300% 400% 500% 600%
Titanium
Iron
Chromium
Manganese
Copper
Aluminum
Moly
Lead
Neodymium
Silver
Nickel
Vanadium
Indium
Cobalt
Lithium
Graphite
2018 to 2050
Growth % (t)
1.73
3
8
15
33
138
366
415
644
694
781
1,378
2,268
4,590
5,583
0 1,000 2,000 3,000 4,000 5,000 6,000
Indium
Titanium
Neodymium
Silver
Moly
Vanadium
Chromium
Lithium
Cobalt
Manganese
Lead
Copper
Nickel
Graphite
Aluminum
2050 Demand Kt

Global Battery Market
Brazil - Premier Battery Metals Jurisdictions
• Brazil is the largest graphiteproducer of high-qualitygraphite outside of Chinawith 80+ years of
continuous production and 3rd most important country in EV Battery Supply Chain.
Graphite Supply 2020
by Country
EV Supply Chain Ranking
By Country

Representative Santa
Cruz Graphite Project
Concentrates
30# 4% 95%
50# 32% 95%
80# 27% 97%
140# 17% 97%
-140# 20% 97%
MeshSize (#) Distribution %Cg
+50 mesh with 98% Cg and +99.9% Cg
concentrates werealso produced during
testing.
63% of concentratescontained jumbo to large
flakes (+30, +50 and +80 mesh).
Flake Percentage +80 Mesh
Santa Cruz World-Class Flake Sizes
Recovery 88%

Category
Tonnage
(t)
C
(%)
In-situ Graphite
(t)
Measured 3,947,550 2.40 94,740
Indicated 10,955,570 2.25 246,500
Total M&I 14,903,100 2.29 341,240
Inferred 7,911,450 2.32 183,550
Santa Cruz Graphite
2019 Mineral Resources Update
Summary*
The 2019 updated Resource Estimate shows strong geologic
potential and continuity of high-quality graphite
mineralization in friable, easily mined, weathered materials.
New areas with at-surface mineralization were discovered,
and the deposit is open both along strike and at depth.
* CautionaryNote:This updated resource estimate is consideredbySTS to meet the requirements ofa
resource and reserve estimate technical report as defined byCanadianSecurities Administrators' National
Instrument 43-101 ("NI 43-101")Standards ofDisclosure for Mineral Projects. Mineral Resources that are
not MineralReserves donot have demonstrated economic viability. There is noguarantee that allor any
part of the Mineral Resource will be convertedintoa Mineral Reserve. InferredResources are considered
too geologicallyspeculative to have mining andeconomic considerations appliedto them andto be
categorized as MineralReserves (asdefinedinNI 43-101). Additional trenching and/ordrilling willbe
requiredto convert InferredMineral Resources to Measured or IndicatedMineral Resources.
2019 Santa Cruz Update Resource Estimate*

Santa Cruz Graphite
Mineral Reserves Summary*
The financial analysis in 2020 PFS showsvery favourableand
robustresults that highlight the Santa Cruz Project’s advantages in
the graphitesector.
* Cautionary Note: This PFS is considered by STS to meet the requirements of a Preliminary Feasibility Study as defined by Canadian Securities Administrators' National Instrument 43-101 ("NI 43-101") Standards of Disclosure for Mineral Projects. The economic
analysis contained in the technical report is based, in part, on Inferred Resources (as defined in NI 43 -101) and is preliminary in nature. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no guarantee that
all or any part of the Mineral Resource will be converted into a Mineral Reserve. Inferred Resources are considered too geologically speculative to have mining and economic considerations applied to them and to be categorized as Mineral Reserves (as defined
in NI 43-101). Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Measured or Indicated Mineral Resources. There is no certainty that the reserve's development, production and economic forecasts on which the P EA is
based will be realized.
2020 Santa Cruz Preliminary
Feasibility Study*
Post-tax NPV5% US$ 81,200,000
Post-tax all Equity IRR 35% p.a.
Post-Tax Free Cash Flow (LOM) US$129M
Payback Period 4 years
Key Financial Results
Mining Method Open Pit
Process/Metallurgy Milling & Flotation
Life of Mine 12 years
Annual Production (years 1-2): 5,000 t p.a.
Annual Production (year 4-11): 25,000 t p.a
Capital Costs – Phase 1 US$ 7,300,000
Avg. Operating Costs(LOM): US$ 396 per tonne of conc.
Avg. Weighted Price: US$ 1287/t
Key Parameters
Mineral
Reserve
Estimate
Tonnage Cg
In-situ
Graphite
(t) (%) (t)
Proven 3,989,635 2.49 99,340
Probable 8,318,795 2.35 195,490
Total P&P 12,308,500 2.40 295,400

Enterprise Value as % of NPV
• Currently Undervalued When Compared to Peer Group
STS Value Proposition
Enterprise Value / T of Cg

Capital Intensity US$/T of Capacity
• Low CAPEX and First Quartile OPEX in a District with 80+ Years of Continuous
Operations
OPEX US$/T

VRC
SRG
LLG
GPH
LML
ZEN
FMS
NGC
TON
NOU
RNU
STS
BEM
GPX
NEXT
EGR
BKT
WWR
MNS
-
50
100
150
200
250
300
350
400
450
0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0%
CAPEX
-
US$M
IRR - ATAX
Net Present Value
per Share
Outstanding: C$2.52
Fully Diluted: C$2.13
CAPEX vs IRR (ATAX)
• Low CAPEX and High Return on Investments

STS Ph 1&2
SJL
EGA LION
GEM
STS Ph 1
BSM
LMR CVE HXG
BEM
NG
VRC
RNU
WKT
CY SRG
FMS
GRAT BAT
GPH
BKT
SVM
WWR
MNS
EGR
TLG
NOU
NEXT
1
10
100
1000
0 1 2 3 4 5
Market
Cap
(Log
$M
Xchange
Currency)
Study Phase
Market Cap < C$20M C$20M < Market Cap < C$50M C$50M < Market Cap < C$100M Market Cap > C$100M
TR PEA PFS FS Licensed&
DetailedEng
Study Phase Vs. MarketCap
• Compelling Value Proposition with Construction-Ready Project

Why South Star?
✓ Mining-friendly
jurisdiction
✓ Great infrastructure
✓ Great logistics
✓ Prolific graphite-
producing region
✓ Experiencedworkforce
✓ Large internal market for
graphite inBrazil
✓ PFS NI 43-101 &updated
Resource
✓ Pilot-plant testing
completed
✓ Highproportionof large
flakes
✓ 1st Quartile OPEX
✓ Low CAPEX
✓ Robust economics
✓ Large geological upside
✓ Management &
Directors hold~25%
✓ Experiencedmine
builders, operators and
financiers
✓ Decades of experience
in Brazil
✓ ESG is in our DNA
✓ Expanding demand in
Brazil
✓ Growing Li-Ionbattery
market
✓ Newmarkets developing
✓ First productionby
the endof 2022
Santa Cruz
Project
Time
Brazil
Location
Team
Near-term graphite producer with responsible and sustainable production, committed to tangible,
long-term benefits for employees, communities, and stakeholders.

For more information,
please contact:
RichardPearce
CEO/President
CHF Capital Markets (Canada IR)
Cathy Hume, CEO
Phone: 416 868 1079 x 251
Email: cathy@chfir.com
RBMG – RB MilestoneGroupLLC (IR US)
Trevor Brucato, Managing Director
Email: southstar@rbmilestone.com
Mr. Dave McMillan, Chairman
Email: davemc@telus.net
Email: info@southstarbatterymetals.com
Web: www.southstarbatterymetals.com
Twitter:@southstarbm
Facebook: @southstarbatterymetals
LinkedIn: @southstarbatterymetals
Suite 1200 - 750 West Pender Street
Vancouver, British Columbia
Canada, V6C 2T8
R. Barãodo Triunfo, 612 – Cj 2210
BrooklinPaulista –São Paulo SP
Brasil, 04602-002

APPENDIX 1 - PHASE 1 PROJECT DETAILS
(5,000 TPY PILOT PLANT)
20-Year Mine Life with Terminal Value

Path to Production – Macro Schedule
2021 Key Milestones
▪ Secure Offtake/Supply Agreement
▪ Complete Debt/Equity Finance for
Phase 1
▪ Begin Construction within 2-3
months of financing
▪ 10-12 months construction
schedule

• Environmental Permit Approved for 4 Years
PHASE 1 – LICENSING & PERMITTING
• Mining License Approved for 3 Years by ANM on Dec 31, 2020
• Phase 1 Operations are fully licensed
• Permits and licenses can be renewed

27
PHASE 1 – ROBUSTFINANCIAL METRICS & POTENTIAL RETURNS
• 12-month ConstructionSchedule
• Currently Trading at 4% of Phase 1 NPV or 2% of Phase 1+2 NPV
• TargetValuation in 24-36 Months
• C$50M = US$36M
• Conservative Approach to Valuation
• Comparables (6-8x EBITDA)
• 75% Phase 1 NPV or 44% of Phase 1 + 2 NPV
NPV5% US$ 30,9M
NPV5% + Terminal Value US$ 51,8M
IRR 32% p.a.
Cash Flow (LOM) US$62M
Payback Period (From Construction Kickoff) 3.4 years
Mining Method Open Pit
Process/Metallurgy Milling & Flotation
Life of Mine (LOM) 20 years
Annual Production (years 1): 3,000 t p.a.
Annual Production (years 2): 5,000 t p.a.
Annual Production (year 3-20): 6,000 t p.a
Avg. Operating Costs(LOM): US$ 546 per tonne of conc.
Avg. Weighted Price: US$ 1287/t Source: Benchmark Mineral Intelligence
• Graphite amountsto over 95% of anode
material for commercial battery
technologies
• No substitutes on the horizon
www.southstarbatterymetals.com

South Star Battery Metals Corporate Presentation - March 2022

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