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Plateau Energy Metals Inc. 2-May-2018

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Plateau Energy Metals Inc. is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru.

The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km2) situated near significant infrastructure.

Plateau Energy Metals is listed on the TSX Venture Exchange under the symbol 'PLU', quoted on the OTCQB under the symbol “PLUUF” and the Frankfurt Exchange under the symbol 'QG1'.

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Plateau Energy Metals Inc. 2-May-2018

  1. 1. Macusani Project Lithium & Uranium in Peru Moving Towards 2020-21 Production TSX-V:PLU FSE:QG1 OTC:PLUUF
  2. 2. Disclaimer The particulars contained herein were obtained from sources which we believe reliable but are not guaranteed by us and may be incomplete. The opinions expressed are based upon our analysis and interpretation and are not to be construed as a solicitation or offer to buy or sell the securities mentioned herein. This presentation includes certain forward-looking statements concerning the future performance of Plateau Uranium's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. Forward-looking statements and forward- looking information include, but are not limited to, statements with respect to estimated production and mine life; the future price of uranium; the estimation of mineral reserves and resources; the realization of mineral resource and reserve estimates; the timing and amount of estimated future production; costs of production; success of exploration activities; and currency exchange rate fluctuations. Except for statements of historical fact relating to Plateau Uranium, certain information contained herein constitutes forward-looking statements. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, variations in grades or recovery rates, risks relating to international operations, fluctuating currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Macusani cautions against placing undue reliance thereon. Neither Plateau Uranium nor its management assume any obligation to revise or update these forward-looking statements. Qualified Persons The scientific and technical information contained in this document relating to preliminary economic assessment was prepared by or under the supervision of, or reviewed and approved by, Mr. Michael Short, B.E., CEng., FIMMM and Dr Thomas Apelt, PhD, CEng., MAusIMM, of GBM Minerals Engineering Consultants, and/or Mr. Mark Mounde, BEng., CEng., MIMMM of Wardell Armstrong International, who are independent technical consultants to the Company and "Qualified Persons" under NI 43-101 Standards of Disclosure for Mineral Projects. The scientific and technical information contained in this document relating to the Mineral Resources was prepared under the supervision of, or reviewed and approved by Mr. David Young, B.Sc. (Hons), FGSSA, FSAIMM, FAusIMM, Pr Sci Nat (No 400989/83) of The Mineral Corporation that is an independent technical consultant to the Company and a “Qualified Person” under NI 43-101 Standards of Disclosure for Mineral Projects. 2
  3. 3. Developing An Emerging Li-U District • PLU controls one of the world’s largest undeveloped Lithium-Uranium districts • Located on the Macusani Plateau, Puno, Southern Peru • New high-grade volcanic Lithium discovery • Unique, shallow, volcanic-hosted supergene/surficial uranium deposits with Li • Excellent infrastructure: • Access to labour, water and inexpensive hydro-electric power • Transport (major paved highway) • Plentiful supply of sulfuric acid • History of mining in the region • Minsur – San Rafael Tin Mine • Other gold & silver development projects • Supportive government and local communities 3 PLU Project
  4. 4. District Potential • Consolidated >910 km2 land package • New High Grade Lithium and Uranium Discoveries continue • One of the largest lithium-uranium districts in the world • 124 Mlbs U3O8 plus 176,000 t Li2O • Drilling focused on <15% of land package 4 Over 910 km2 of Exploration Concessions
  5. 5. Catalysts for PLU Investment Growth • Game Changing Discovery – High-grade Li and U drilled at Falchani • Resource Estimate drilling continues with 3 drill rigs – resource expected in Q2 2018 • Lithium & Uranium Extraction Results – Positive • Bulk Sample shipped to ANSTO for leach and precipitation work – results in Q2 2018 • Strong & Rising Lithium Demand & Stabilizing Price • Improving Uranium Market; Demand growth, Supply Down with U price increase expected • Peru Ministry of Energy & Mines and elected government highly supportive and are working to ensure future uranium-lithium production in the country Increasing Value in 2 Improving Sectors
  6. 6. Falchani Discovery at Chaccaconiza Lithium-Uranium Discovery • First access agreement signed with Chaccaconiza • Falchani discovery >2km2 • 0.72% Li2O & 1% U3O8 in outcrop samples • Widespread radioactivity & U mineralization over 6 areas • High-grade Li and U drilled intersections 6 High-Grade Lithium & Uranium Discovery in New Area
  7. 7. Falchani – Expanding Footprint High-Grade Lithium Discovery • Consistent ~3,000-3,500 ppm Li (0.65-0.75 % Li2O) • Thickness up to >140 metres • Located at Surface to ~200 m below surface at Open Pittable Depths • Excellent Initial Leach testing of Falchani mineralization (80% Li Extraction) • Drilling continues to expand mapped 2 km2 footprint • Open in all directions High-Grade Uranium at Surface • Up to 50 m thick U mineralization • Variable grade up to >500 ppm U3O8 • 94% U Extraction in cold Sulphuric Acid • >2 km2 radioactive surface anomaly to be evaluated 7Separate High-Grade Lithium & Uranium Discoveries
  8. 8. Falchani – Large Footprint • Drilling continuing on additional Platforms with mapped radioactivity • Mapping & Sampling Lithium-rich unit in outcrop grows footprint to >1.2km (E-W), >1.7 km (N-S), >100 m thickness at consistent grades of 3,300 ppm Li (0.72% Li2O) 8Large, High-Grade Lithium Discovery
  9. 9. Unique ‘Hard Rock’ Lithium Discovery • Volcanic host rock = No Li minerals = easier extraction = lower production costs • Open-pittable depths from 0 to 200 m below surface – 100 m thick • Consistent Grade > 0.7% Li2O is significant • Growing Falchani footprint targeting Global Top 5 non brine Projects • Drilling towards establishing initial Mineral Resource Estimate Q2 2018 9Source: Individual Company Reports and Presentations PLU Positioning Falchani to Enter Top 5
  10. 10. Lithium Extraction Work Planned • Continued whole rock bulk leach test work by TECMMINE on Falchani high-grade Li unit in Peru • New test work underway at ANSTO in Australia – globally renowned U and Li testing facility • Falchani high-grade Li unit – mini-bulk sample being processed • Leaching, Impurity removal and lithium product precipitation & characterization work will provide proof-of-concept and potential process routes amenable for Falchani • Output – confirm/establish leach conditions, % Li recoveries, acid consumption, saleable product precipitation and flowsheet options • Will flow into PEA work to establish OPEX and CAPEX by Year End 10Evaluating Exciting Lithium Potential
  11. 11. Existing Lithium Resources Lithium Resources all within Uranium Resources • Existing Lithium Resources of 67,000 t Li2O Measured & Indicated (0.13% Li2O) & 109,000 t Li2O Inferred (0.12% Li2O) • Only 4 deposits have Li analyses • All reported Li from these deposits is within the 75 ppm U economic cutoff used in Uranium PEA New High-grade Lithium Discovery • High-grade Li discovery currently being evaluated with grades 6 times higher (0.79% Li2O) than U deposits Lithium leach test work promising • Sulphuric acid leaching up to 80% Li extraction at 89°C • Work on leaching & precipitation to determine OPEX and CAPEX requirements for Li production started 11 Determining Uranium-Lithium Co-production Potential
  12. 12. Lithium Extraction Work Evolution • Lithium recoveries of up to 73% in original external tests by K-UTEC Germany at 250 °C • Whole rock leach test work in Peru by TECMMINE on U deposits and high-grade Li Falchani discovery shows consistent 60-80% Li extraction at leach temperatures of 70-85 °C. • >98% U recoveries achieved in all tests. Acid consumption of 40-50 kg/t achievable for Li-U. • Work in Australia (SGS Labs/Hydromet) on U/Li extraction including Li-rich and U-rich Concentrate Fractions produced through Gravity & Mag Separation with additional work on leaching and precipitation at ANSTO on High-grade Li Discovery. 12Evaluating Exciting Lithium Potential in U deposits & Falchani
  13. 13. Lithium Demand & Price Increasing • Present demand growth driven by E-Vehicles; Future by Grid Storage • Every 1% E-Vehicle penetration = Li demand growth of 70,000 t LCE per year* • Li-Carbonate input cost represents only ~2% of battery cost • Prices expected to normalize >$12,500/t (Analyst and Producer consensus); Currently >$15,000/t • 40 years of Li battery development to date – 25 years commercial • No alternate battery technology expected for many years 13Source: Albemarle Corporation; from Cormark Securities * Morgan Stanley Source: Citigroup
  14. 14. Investment Highlights (Existing Resources) • Strong Uranium-only Project Economics at US$50/lb U3O8* • NPV8: US$603M / IRR: 40.6% / 1.8 years capital payback (post-tax) • Large Scale: Proposed production of over 6M lbs U3O8 per year over a 10 year mine life • Low Cost: US$17.28/lb LoM cash production cost, <US$300M initial capital – Lowest quartile production potential • Project economic at current Term uranium prices, significant leverage to consensus longer term forecasted prices • Control of All Defined Uranium Resources in Emerging Uranium District** • 52.9 M lbs U3O8 Measured & Indicated (248 ppm) • 72.1 M lbs U3O8 Inferred (251 ppm) • 75 ppm U cut-off • Additional Lithium Resources with Uranium ** • 67,000 t Li2O Measured & Indicated (0.13% Li2O) • 109,000 t Li2O Inferred (0.12% Li2O) • Resources in only 4 uranium deposits within 75 ppm U cut-off • New discoveries will improve Economics • High-Grade Li and U discovery at Falchani • Lithium Leach test work positive • Evaluating potential value-add by establishing OPEX/CAPEX Strategic Asset Positioned for EV/Lithium Battery Demand Growth & Uranium Sector Recovery * Jan 2016 Preliminary Economic Assessment ** Resource details from May 2015 and March 2016 NI 43-101 Reports. Macusani Project, Puno, Peru Post Tax IRR/NPV of 40.6%, US$603M
  15. 15. Low Cost U Production vs Producers 15Source: Cantor Fitzgerald Canada Estimates, TradeTech, Company Reports – January 6, 2017; NYME UXX Price 02 Jan 2018 Current U-only PEA Lowest Quartile Cash Costs $17.28/lb @ 289 ppm $23.15 Current U3O8 Spot Price as at 22 Jan 2018 (UxC.com) Higher Head Grades @ 500 ppm can push costs lower
  16. 16. Growing Uranium Demand 16Source: World Nuclear Association (April 1, 2018) Global Demand For Electricity to grow >53% by 2035 Nuclear Reactors Worldwide: 449 Operating Worldwide 58 Under Construction 154 Planned 333 Additional Proposals Today’s Supply Crunch: 85% of demand met by mining 15% from secondary sources Annual U3O8 Requirements 2017 Demand 168.7 Mlbs Reference Demand 243 Mlbs by 2035 Around The World: The Rise Of Nuclear Energy by 2035
  17. 17. Uranium Supply, Demand & Price 17* Source UxC Presentation & UxC (www.uxc.com) Lowest Quartile Cash Costs $17.28/lb Recent Supply Discipline/Erosion • Kazakhstan reduction >10Mlbs/yr • Cameco removed ~25 Mlbs/yr at McArthur-Key and Rabbit Lake • AREVA reducing Niger production • Langer Heinrich – mining stopped • >20% of Global Mined Supply
  18. 18. Path to Production 18 Except for statements of historical fact relating to Plateau Uranium, certain information contained herein constitutes forward-looking statements. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, variations in grades or recovery rates, risks relating to international operations, fluctuating currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated. 2018 – Q1-4 2019-2020+ • Drilling/Mapping at New Falchani Area Discovery • Falchani Li & U Resource Estimate (Q2) • Metallurgical test work - Li & U leaching and precipitation (Q2) • Complete PEA level study for Li-U production (Q4) • Continued Environmental work • Advance uranium permitting & discussions with government • Project financing • Commence construction • 12-18 months • Drilling to convert resources to measured &/or reserves • Commence trade-off & optimization studies • Feasibility Study • Complete EIA process submissions for construction/production permitting 2018-19 Budget: $3-4M Budget to Complete BFS and Permitting: $10-12M Positioning Plateau for production in 2020-21 to meet forecasted supply deficit
  19. 19. Corporate Summary 19 TSX-V: PLU FSE:QG1 US OTC:PLUUF Plateau Energy Metals Symbol: PLU Listed Exchange TSX-V Market Cap. ~$40 million Shares Outstanding 65,088,457 Warrants Outstanding 3 million @ $0.50 (05/19) 1.2 million @ $0.65 (10/18) Options Outstanding 6,389,375 52 Wk Trading Range $0.24 to $0.96 Recent Share Price $0.62 * Figures in Canadian dollars
  20. 20. Contact Information 20 Ted O’Connor Chief Executive Officer & Director +1-416-628-9600 ted@plateauenergymetals.com Ian Stalker Chairman & Director +1-416-628-9600 ian@plateauenergymetals.com www.plateauenergymetals.com Head Office 141 Adelaide St. W., Suite 1200 Toronto, Ontario M5H 3L5

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