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Plateau Energy Metals - Lithium and Uranium in Peru

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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 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 - Lithium and Uranium in Peru

  1. 1. Macusani Project - Highlights 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 Energy Metals’ 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 Energy Metals, 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 Plateau cautions against placing undue reliance thereon. Neither Plateau Energy Metals 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 910 km2 in 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 • Falchani High Grade Lithium Deposit with 0.67 Mt LCE (Indicated) & 1.76 Mt LCE (Inferred) • One of the largest lithium-uranium districts in the world • 124 Mlbs U3O8 resources – PEA with $17.28/lb cash costs 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 • Maiden Resource Estimate announced July 2018 – drilling continues with 3 drill rigs • Lithium Extraction Results – Positive • ANSTO improved Li Extraction results; precipitated battery-grade Lithium Carbonate • Investigating alternate Li processing options (HCl; Roast-H2O Leach) ANSTO & Peru • 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 lithium & uranium production in the country Increasing Value in 2 Improving Sectors
  6. 6. Falchani – Discovered November 2017 High-Grade Lithium Discovery Maiden Resource* • 40.6 Mt @ 0.67% Li2O (Indicated) = 0.63Mt LCE • 121.7 Mt @ 0.59% Li2O (Inferred) = 1.41 Mt LCE • Consistent ~3,000-3,500 ppm Li (0.65-0.75 % Li2O) • Thickness up to >150 metres • Located at Surface to ~200 m below surface at Open Pittable Depths • Excellent Initial Leach testing of Falchani mineralization (80-90% Li Extraction) • Resource Drilling covers on 20% of mapped footprint 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 6Separate High-Grade Lithium & Uranium Discoveries *PLU Li Resource Announced July 24/18
  7. 7. Falchani – Maiden Lithium Resource • Initial Resource >2.4 M tonnes LCE (163 Mt at 0.61% Li2O or 2,800 ppm Li) • Resource Drilled Area = ~1,300 m by ~500 m • 40-150 m thickness; consistent grades 7Large, High-Grade Lithium Discovery Drilled Area
  8. 8. Falchani – Large Mapped Footprint • Mapping/Sampling established geological footprint at 2.2km (E-W) by 1.7km (N-S) • Resource Drilled Area = ~1,300 m by ~500 m = ~20% of current mapped footprint • Drilling continues – Lithium resource will grow substantially 8Large, High-Grade Lithium Discovery Drilled Area Mapped Footprint
  9. 9. Falchani – Larger Caldera Target • 6 km by 5 km interpreted collapse caldera represents larger target for future exploration and lithium resource expansion 9Large, High-Grade Lithium Discovery Drilled Area Mapped Footprint
  10. 10. Li model (showing all zones)
  11. 11. 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 with excellent leach characteristics • Large Initial Resource on ~20% of Geologic Footprint – expansion drilling continues • Growing Falchani Lithium Resources targeting Global Top 5 non brine Projects 11Source: Individual Company Reports and Presentations as of 15 May 2018; PLU Li Resource announced July 24, 2018 PLU Positioning Falchani to Enter Top 5
  12. 12. Lithium Extraction Work • New test work underway at ANSTO Minerals in Australia – globally renowned Lithium and Uranium testing facility • Falchani high-grade Li unit – 90% Li Extraction achieved • Preliminary Flowsheet proposed • Leaching, Impurity removal and lithium product precipitation & characterization work provides proof-of-concept with • Battery-grade Lithium Carbonate precipitation with 99.74% LC purity – before any additional refining stages • Will flow into PEA work to establish OPEX and CAPEX by Year End 12Evaluating Exciting Lithium Potential
  13. 13. ANSTO Preliminary LC Flow Sheet • Moderate Grind = P80 150 μm • 90-95°C Sulfuric Acid Leaching • Achieved 90% Li extraction in 12 hr • Li2CO3 purity of 99.74% before refining • Next Phase of work focusing on impurity removal and Battery Grade Lithium Carbonate production 13Evaluating Exciting Lithium Potential
  14. 14. PLU Battery-grade LC Product
  15. 15. 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 15Source: Albemarle Corporation; from Cormark Securities * Morgan Stanley Source: Citigroup
  16. 16. Investment Highlights (Uranium 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 • New discoveries will improve U Economics • Additional surface Uranium discovery at Falchani • Lithium PEA work starting • 80-90% Li extraction with simple atmospheric acid leaching • 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
  17. 17. Low Cost U Production vs Producers 17Source: Cantor Fitzgerald Canada Estimates, TradeTech, Company Reports – January 6, 2017; NYME UXX Price 08 August 2018 Current U-only PEA Lowest Quartile Cash Costs $17.28/lb @ 289 ppm $26.00 Current U3O8 Spot Price as at 08 August 2018 Higher Head Grades @ 500 ppm can push costs lower
  18. 18. Uranium Supply, Demand & Price 18* 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 • Orano reducing Niger production • Langer Heinrich – care & maintenance • >20% of Global Mined Supply • New Physical U holding Companies
  19. 19. Path to Production 19 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+ • Falchani Li & U Resource Estimate completed – expansion drilling continues • Metallurgical test work - proof of concept Li leaching and precipitation work completed • Complete PEA level study for Li and update U (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
  20. 20. Corporate Summary 20 TSX-V: PLU FSE:QG1 US OTC:PLUUF Plateau Energy Metals Symbol: PLU Listed Exchange TSX-V Market Cap. ~$92 million Shares Outstanding 71,098,494 Warrants Outstanding 360,000 @ $0.65 (10/18) 3 million @ $0.50 (05/19) 2.1 million @ $0.90 (05/21) Options Outstanding 6,389,375 52 Wk Trading Range $0.26 to $1.69 Recent Share Price $1.30 * Figures in Canadian dollars
  21. 21. Contact Information 21 Alex Holmes CEO +1-416-628-9600 alex@plateauenergymetals.com Ted O’Connor Director +1-416-628-9600 ted@plateauenergymetals.com Ian Stalker Executive 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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