Please note that this presentation has been replaced with a newer version. You may access the latest version of the Black Widow Resources presentation at http://exploration.blackwidowresources.com/investor-relations Corporate Presentation prepare by President of Black Widow Resources, Mr. Neil Novak. For updated information please visit the black widow resources at http://www.blackwidowresources.com

1. A
new
Mining
Exploration/Development
Company,
acquiring
and
exploring
projects
to
increase
shareholder
value,
grooming
projects
for
development
or
takeover.
(May
16,
2012)
1

2. ¡ Like
the
infamous
black
widow
spider,
Black
Widow
Resources
Inc.
(“BW”)
builds
a
web
in
a
prospective
area
by
acquiring
strategically
located
exploration
projects,
close
to
other
discoveries;
¡ BW
reminds
investors
of
Spider
Resources
Inc.
(“SPQ”)
a
company
that
started
as
a
$2.5
million
public
offering
in
1993,
and
was
groomed
by
BWs’
current
management,
and
sold
on
a
cash
basis
in
2010
for
$125
million
to
Cliffs
Natural
Resources,
Black
Widow
is
a
more
aggressive
Spider;
¡ Exploration
properties
are
selected
on
the
basis
of
proximity
to
other
economic
discoveries,
all
projects
must
exhibit
good
geological
potential,
good
geology
equates
to
high
potential
for
discovery!
2

3.
§ Increase
individual
project
value
by
“grooming”
early
stage
project(s)
for
development,
or
as
targets
for
eventual
takeover
(like
Spider’s
Big
Daddy
Chromite
deposit),
BW
team
has
an
enviable
proven
discovery
record;
§ Short
Term
Business
Plan
(1
year)
is
to
go
public
by
IPO
or
merge
with
CPC
contemporaneous
with
$3
–
5
million
offering
Q3/Q4
2012;
§ Long
Term
Business
Plan
(3-­‐
5
years)
is
to
entice
strategic
developers
to
assist
in
development
and
eventual
exploitation
of
projects
as
they
mature.
3

4. § President/CEO
(founder)
Neil
Novak,
P.Geo.
§ Corporate
Secretary
(founder)
Carmen
Diges,
CFA,
LLM
§ VP
Corporate
(founder)
George
Duguay,
CGA,FCIS
§ CFO
Carmelo
Marrelli,
CA,CGA
Novak
headed
up
Spider
Resources
Inc.
and
was
credited
with
the
discovery
of
the
Ring
of
Fire
exploration
camp
in
Northern
Ontario
and
was
co-­‐recipient
of
2010
PDAC
Bill
Dennis
Prospector
of
Year
award;
Novak
credited
with
numerous
discoveries
in
ROF
area,
including
Noront’s
Eagle’s
Nest
MMS
deposit
(currently
being
prep’d
for
development
by
Noront
estimate
$877
million
capex
+
sustaining
costs),
and
(Freewest/Spider/KWG)
Big
Daddy
Chrome
Deposit
currently
being
prep’d
for
development
by
Cliffs
Natural
Resources
recently
(May
2012)
announced
$5.1
billion
development
project.
4

5. Ø Chairman
Norman
Brewster
Ø Director
Neil
Novak
Ø Director
Al
Ringler
Ø Director
George
Duguay
Ø Director
Earl
Coleman
Advisory
Board
includes:
Jim
Franklin
Ph.D.,
James
Burns
P.Eng.
Bryan
Wilson,
and
Hubert
Marleau
(all
ex-­‐Spider
directors
or
management)
5

6. § formed
in
January
2011;
§ Acquired
one
non-­‐chromite
exploration
project
from
Cliffs/Spider
(Gremlin
project);
§ During
2011,
raised
$880K
privately
amongst
BOD,
management
and
family
and
friends;
§ Entered
into
LOI
with
United
Reef
for
RTO
in
December
2011,
Pre-­‐Amalgamation
agreement
signed
April
2012,
RTO
failed
due
to
market
conditions
in
spring
2012,
terminated
RTO
transaction
early
May
2012,
acquired
70%
interest
in
United
Reef’s
gold
project,
near
Dryden;
§ Acquired
59.8%
interest
in
Copper-­‐Zinc
project
in
February
2012
6

7. Ø Gremlin
Project
–
100%
interest
in
39
claims
located
just
north
of
Ring
of
Fire
in
Northern
Ontario,
targets
include
VMS
and
possibly
diamonds,
NI
43-­‐101
report
completed
dated
March
2012;
Ø Santa
Maria
Gold
Project–
70%
interest
held
by
BW
in
JV
with
United
Reef,
property
originally
consisted
of
19
claims,
located
46
km
SE
of
Dryden,
Ontario,
targets
include
Archean
lode
gold
in
structurally
related
lenses,
5
new
claims
staked
as
result
of
BW’s
a/b
survey,
property
now
consists
of
24
claims,
updating
NI
43-­‐101
report
summer
2012;
Ø Shunsby
Project
–
59.8%
interest
in
Copper
–
Zinc
consists
of
20
claim
property
150
km
SW
of
Timmins,
Ontario,
100
km
S
of
Foleyet,
2
moderate
grade
(3%
Cu,
3%
Zn)
50,000
tonne
occurrences,
large
Zinc
tonnage
potential,
preparing
NI
43-­‐101
report
summer
2012
7

8. Gremlin
Santa Maria
Shunsby
8

9. Great REversed Magnetic LINear
Kyle Kimberlites
Noront’s Eagles Nest
Cliff’s Chromite Deposits
9

10. § Gremlin
Project
–comprises
100%
interest
in
39
contiguous
mining
claims
(9,856ha)
has
VMS
and
diamond
potential
immediately
north
of
the
“Ring
of
Fire”
area
of
Ontario
–
acquired
initial
50%
interest
for
acquisition
cost
of
$85,500
(855,000
BW
shares)
from
Cliffs/Spider
next
25%
interest
from
original
vendor
for
$30,000
(300,000
BW
shares)
+
$15K
in
May
2011,
made
final
payment
of
450,000
shares
in
April
2012
to
earn
final
25%
interest
(Cliffs
currently
owns
6.3%
equity
in
BW)
§ Recently
incurred
$220
K
in
exploration
expenditures
including
High
sensitivity
-­‐
Triaxial
Heli-­‐Magnetic
survey
+
ground
follow-­‐
up
MaxMin
completed
Jan/Feb
2012;
§ Property
groomed
as
“Property
of
Merit”
as
required
for
transitioning
to
a
public
company,
NI
43-­‐101
report
recently
approved
by
TSX.V;
§ project
is
now
drill
ready,
proposal
to
spend
$1
million
10

11. ¡ Tri-­‐axial
aeromagnetic
heli-­‐
survey,
high
resolution
flown
in
Sept/Oct
2011
¡ New
survey
confirmed
and
enhanced
Great
Reversed
Magnetic
Linear
“Gremlin”
transecting
property
¡ Higher
resolution
used
for
focusing
on
magnetic
features
with
electromagnetic
response
from
earlier
2005
VTEM
survey
¡ Three
main
areas
of
interest
identified
for
ground
follow-­‐
up,
10
more
claims
added
to
property
in
December
2011
11

12. VMS Targets
MMS (Eagle Type) Targets
12

13. Ø 70%
interest
in
19
claims
covering
1,392
hectares
covering
gold
project
located
near
Dryden,
Ontario,
with
two
small
vertical
shafts
(circa
1900),
property
covers
6
gold
occurrences,
grab
samples
up
to
28
g/t
Au
optioned
from
United
Reef
Limited;
Ø BW
earned
70%
interest
by
completing
$90K
in
work
commitments
prior
to
May
1,
2012;
Ø $90K
($70K
field
cost,
$20K+
interp
and
filing
cost)
VTEM/
Gradiometer
magnetic
airborne
survey
completed
in
January
2012,
three
multi-­‐channel
anomalies
identified,
5
new
claims
(944
hectares)
staked,
ground
follow-­‐up
being
planned
for
summer
2012;
Ø Formalized
JV
with
United
Reef
on
April
30,
2012,
BW
is
operator
with
70%
interest.
13

14. 14

15. Santa Maria Shaft Zone
aeromagnetics
VTEM anomalies
Geotech survey encountered three
new VTEM anomalies outside of
original claim group, 5 claims recently
added (59 units 944 hectares) base
metal potential
15

16.
¡ Shunsby
Project
–
Copper-­‐Zinc-­‐Silver
project,
20
patent
claims
(314.4ha)
located
100
km
SW
of
Timmins
Ontario,
lumber
access
roads,
historical
exploration
revealed
high
grade
zinc/copper
near
surface,
recent
grab
samples
by
NN
of
up
to
9.4%
Cu,
2.14%
Zn,
36
g/t
Ag;
¡ Non
compliant
resource
of
4
million
tonnes
averaging
3%
Zn
plus
two
separate
zones
averaging
3.5
%
Cu
and
3.2
%
Zn
estimated
at
approx.
50,000
tonnes
each.
Last
work
in
1992-­‐3
by
Phelps
Dodge
looking
for
Zinc
elephant
size
deposit;
¡ Signed
Purchase
agreement
Feb
2012
to
acquired
59.8%
interest
in
property
by
paying
$200K
(issued
2
million
shares
at
$0.10
per
share),
two
additional
payments
valued
at
$150K
each
required
on
1st
and
2nd
anniversary
of
signing
purchase
agreement,
shares
to
be
issued
based
upon
20
day
VWAP
of
BW
shares,
optionor
to
retain
a
1.0%
nsr,
half
of
which
is
buyable;
¡ Formalize
JV
with
other
partners
representing
remaining
30.2%
interest,
apathetic
partners
will
likely
acquiesce
to
spend
and
undergo
dilution
to
0.5%
nsr
16

17. Grab
sample:
Two non-compliant resources 9.4%
Cu,
2.14%
Zn,
36
g/t
Ag
of 50,000 tonnes each
averaging 3.5% Cu, 3.2% Zn
17

18. ¡ BW
shares
held
directly
by
Management:
5.412
million
@
$0.065
¡ BW
shares
issued
for
properties:
3.605
million
@
$0.10
¡ BW
shares
issued
for
working
capital:
2.0
million
@
$0.10
¡ BW
shares
issued
FT
(not
including
Management)
2.504
million
@
$0.13
¡ Total
BW
shares
issued
to
date
=
13,570,923
in
private
company.
18

19. ¡ During
2011,
raised
$509,070
in
FT
and
$370,000
in
Hard
Cash;
¡ Black
Widow
has
completed
timely
exploration
programs
on
Gremlin
and
Dryden
projects
as
needed
to
meet
earn-­‐in
requirements,
expended
FT
funds
in
a
timely
manner;
¡ Black
Widow
to
continue
to
select
and
acquire
additional
exploration
projects
to
add
to
company
portfolio,
in
exchange
for
BW
shares
(minimal
cash
outlay
for
acquisition);
¡ Black
Widow
to
raise
$500K
–
1.0
million
privately
(May
–
June
2012)
as
needed
to
continue
exploration,
update/prepare
NI
43-­‐101
reports
on
Dryden
and
Shunsby
projects
over
summer
2012,
prepare
for
going
public
event
fall
2012;
¡ Prepare
prospectus
in
September
2012,
go
public
during
Q3/Q4
–
2012
along
with
financing
associated
with
IPO
anticipate
raise
in
order
of
$3.0
to
$5.0
million
19

20. ¡ Spring
interim
financing
to
raise
between
$500K
and
$1.0
million
in
anticipation
of
a
prospectus
financing
with
IPO
in
Q3/Q4
2012,
price
for
fall
2012
financing
not
yet
set;
¡ Current
Flow
Through
financing
$1.24
for
10
units
=
same
price
as
last
year,
this
offering
includes
warrants…
units
consist
of
8
FT
shares
at
$0.13,
plus
2
HC
shares
at
$0.10,
plus
½
warrant
at
$0.20
for
6
months
after
going
public
transaction;
¡ Hard
Cash
Units
at
$1.00
per
10
units,
units
consist
of
10
HC
shares,
each
with
a
full
warrant
exercisable
at
$0.20
for
6
months
after
going
public
transaction.
20

21. ¡ Continue
exploration
on
Gremlin
Project,
fill
in
and
re-­‐orientate
ground
geophysical
survey
prior
to
drill
testing
($200K
fall/
winter
2012);
¡ Ground
follow-­‐up
Santa
Maria
Gold
project,
prospecting,
linecutting,
geophysics
($100K
summer/fall
2012);
¡ Initiate
work
program
on
Shunsby
project,
prospecting,
mapping,
geophysics.
($200K
summer/fall
2012);
¡ Prepare
for
going
public
transaction,
prepare
and
update
geological
reports
(Shunsby,Santa
Maria),
Office
working
capital
($350K
June
–
December
2012)
21

22. ¡ Continue
exploration
including
drill
testing
encouraging
results
at
Gremlin
Project,
3
–
4
holes
totaling
1200
meters
estimated
to
cost
$800K
(winter/spring
2013)
¡ Ground
follow-­‐up
and
drill
testing
Santa
Maria
Gold
project,
4
–
6
holes
(1000)
meters
estimated
to
cost
$400K
(late
fall
2012
–
winter
2013)
¡ Ground
exploration
including
diamond
drilling
on
Shunsby
Project
estimated
to
cost
$500K
(winter
2012/13)
¡ Get
ready
for
follow
up
on
encouraging
results
from
3
projects,
possible
new
acquisitions,
“Blue
Sky
Projects”
¡ Price
not
yet
set
for
next
raise,
see
how
market
looks
in
the
fall
22

23. Black
Widow
Resources
Inc.
Suite
304
-­‐
65
Front
St.
E.,
Toronto,
ON
M5E
1B5
Neil
Novak,
P.Geo.
(President/CEO)
Email:
nnovak@blackwidowresources.com
Tel:
(416)
203
8636
Fax:
(416)
815
1355
http://www.blackwidowresources.com
23