This corporate presentation by First Mountain Exploration provides an overview of the company's operations, management team, and proposed financing. Key points include: - The company has acquired a large conventional exploration block and cash flow property with multiple drilling targets. - Management has a proven track record of success with previous companies. - A resource report estimates significant unrisked resources across multiple zones on the main property. - The company is proposing a $10 million financing to fund drilling, acquisitions, and seismic work.

1. CORPORATE PRESENTATION
NOVEMBER 2011
FM_Nov Corp – Nov.3, 2011 FIRST MOUNTAIN EXPLORATION LTD. 1

2. Disclaimer
Advisory Regarding Forward Looking Information and
Statements
 This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any words
"will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information.
 More particularly and without limitation, this presentation contains forward looking statements and information concerning: a potential acquisition of a public company;
the estimated closing exchange ratio for the shares issued for the acquisition; development and drilling programs, plans and opportunities; expected finding and
development costs and onstream costs; future development and growth opportunities; cash flow, net asset value and reserves life; the anticipated benefits of the
acquisition including increased long-term stability, operating efficiencies and capital market access; and plans to transition into future business model.
 The forward-looking statements and information in this presentation are based on certain key expectations and assumptions made by First Mountain, including
completion of the acquisition on the timing planned; prevailing commodity prices and exchange rates; applicable royalty rates and tax laws; future well production rates;
reserve and resource volumes; the performance of existing wells; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying
out planned activities; the availability and cost of labour and services; and the receipt, in a timely manner of regulatory, stock exchange and other required approvals.
Although First Mountain believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information because First Mountain can give no assurance that they will prove to be correct. There
is no certainty that First Mountain will achieve commercially viable production from its undeveloped lands and prospects.
 Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results
could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the failure to
obtain the necessary regulatory, stock exchange and other regulatory approvals and on the timelines it has planned, the risk that some other condition to the closing of
the offering and the acquisition is not satisfied; the oil and gas industry in general such as: operational risks in development, exploration and production; delays or
changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and
projections relating to reserves, production, costs and expenses; health, safety and environmental risks; commodity price and exchange rate fluctuations; marketing and
transportation or petroleum and natural gas and loss of markets; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the
anticipated benefits of acquisitions; ability to access sufficient capital from internal and external sources; stock market volatility; and changes in legislation, including but
not limited to tax laws, royalty rates and environmental regulations.
 Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this presentation are made as of
the date hereof and First Mountain undertake no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable securities laws.
Boe Advisory
 The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A Boe conversion ratio of six thousand cubic feet per barrel (6 Mcf: 1 Bbl)
of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.

3. CAPITALIZATION & FINANCING
CAPITALIZATION
Current Shares Outstanding (Inc. Slave Lake) 15,251,302
Total Fully Diluted 15,251,302
Bank Debt 0
Cash $2 Million
Management Ownership 10 %
FINANCING
2010 $300,000 Flow-through $0.35 857,143 Shares
2011 $140,000 Insiders $0.10 1,400,000 Shares
2011 $3,381,288 Investment $0.35 9,660,825 Shares
2011 Slave Lake Purchase $0.45 3,333,333 Shares
Total $3,821,288 Total 15,251,302 Shares
FIRST MOUNTAIN EXPLORATION LTD. 3

4. MANAGEMENT & BOARD OF DIRECTORS
MANAGEMENT
William Ambrose, President & CEO
Brad Barton, VP Engineering and Operations
Janet Scase, CFO
Brian Watts, Exploration Manager
BOARD OF DIRECTORS
William Ambrose – Promoter
Brad Barton - Engineer
Dr. Arthur Halleran – Geologist
Wayne Murphy - Businessman
FIRST MOUNTAIN EXPLORATION LTD. 4

5. WILLIAM AMBROSE
Mr. Ambrose has over 35 years of experience in Canada and the United States in the oil and gas
industry. The following is a summary of his experience and the stock price of the companies he was
associated with:
First Mountain Exploration Ltd. – Founder, President and CEO
Private - $0.35
Triple Crown Petroleum Ltd. – Founder, President & CEO
IPO Price - $0.20 to $0.35
Petro Uno Resources Ltd. – Founder, President & CEO (Merged into Renegade Petroleum Ltd.)
IPO Price - $0.20 to $0.90
Renegade Petroleum Ltd. – Founder & Director
IPO Price - $1.40 to $2.64
Renegade Oil and Gas Ltd. - Founder, Director & Chairman (Merged into Legacy Oil + Gas Inc.)
Private - $1.00 to $3.00
Rocky Mountain Energy Corp. – Founder, President & Director (Merged into Enterra Energy Trust)
IPO Price - $0.34 to $6.10
Universal Fuels – Founder, President & Director
Stock Price - $2.00 to $8.10
Mark Resources – Founder and Director (Merged into Enerplus Resources)
IPO Price - $0.25 to $46.00
★ Current Market Value of the above companies exceeds $5.5 Billion.
FIRST MOUNTAIN EXPLORATION LTD. 5

6. BRAD BARTON – VP OF OPERATIONS
Mr. Barton is a Professional Engineer with 15 years of varied experience in petroleum
engineering, specializing in day to day operations, regulatory compliance and management functions.
Petro Uno Resources Ltd. - Engineering Manager
Underground Energy - Consultant
Glamis Resources Ltd. - VP of Engineering, contributed to company growth though drilling success.
Bachelor of Administration Degree (1992) and a Bachelor of Applied Science Degree (1996) from the
University of Regina.
JANET SCASE - CFO
Ms. Scase is a Chartered Accountant with 14 years of accounting and finance experience in the
Canadian oil and gas industry.
ProspEx Resources Ltd. - Controller
Esprit Exploration Ltd. - Manager of Financial Reporting
Canadian Hunter Exploration Ltd. – Senior Financial Accountant
PriceWaterhouseCoopers LLP. – Senior Accountant
FIRST MOUNTAIN EXPLORATION LTD. 6

7. BRIAN WATTS – EXPLORATION MANAGER
Mr. Watts has 40 years of experience working in various geological and management rolls in the oil
and gas industry. Some highlights of his career are:
Camel Oil & Gas Ltd. - Vice President – Exploration
Tarragon Oil and Gas Limited - Exploration Manager
Spire Energy Ltd.- Vice President Exploration
Quintana Minerals Resources Corp. - President
FIRST MOUNTAIN EXPLORATION LTD. 7

8. FAUST PROSPECT -TECHNICAL TEAM
Technical Team That Developed Faust Prospect
Steve Benediktson – Geologist, 30+ years experience
Gary Martin – Geophysicist, 30+ years experience
Greg Johnson – Landman, 30+ years experience
Barry Biosvert – Field Contact, 25 years experience
FIRST MOUNTAIN EXPLORATION LTD. 8

9. COMPANY MAKING PROSPECT
FAUST – SLAVE LAKE
100% working interest in 75 ½ sections of conventional
exploration
5 seismically defined drilling opportunities
CASH FLOW OPPORTUNITY
BUCK LAKE
50% working interest in ¾ section of Cardium
Earning well to be drilled Q4 2011
FIRST MOUNTAIN EXPLORATION LTD. 9

10. FAUST
FAUST - SLAVE LAKE
75 ½ sections of conventional exploration (48,000 acres)
Multiple stacked zones
Scalable discoveries:
• Potential for multi-well pools
• Potential for water flood and polymer flood
GLJ Petroleum Consultants (“GLJ”) resource evaluation.
FIRST MOUNTAIN EXPLORATION LTD. 10

11. FAUST
MULTIPLE STACKED ZONES
3 wells test 5 prospects / each prospect is a company maker
Well 1 Well 2 Well 3
Bluesky 1 Bluesky 2 Bluesky 3
Pekisko
Keg River
FIRST MOUNTAIN EXPLORATION LTD. 11

12. FAUST
R11 R10 R9W5
T73 T73
T72 T72
T71 T71 Land purchased October,
2011, for consideration of:
1.5 Million Cash
3.3 Million Shares
R11 R10 R9W5 GORR
FIRST MOUNTAIN EXPLORATION LTD. 12

13. FAUST
GLJ Prospect Resource Report – July 2010
*currently being updated
Formation Gross Company Peak Future F&D OP Cost
Unrisked Prosp Prod Undiscounted at Peak
Resource Capital Prod
Oil Gas and Oil BOE/d MM$ $/BOE $/BOE
mmbbls mmBOE
Bluesky 1 5.0 6.5 2,900 95 15.00 5.00
Bluesky 2 2.3 3.0 1,920 69 23.00 6.00
Bluesky 3 1.0 1.3 715 26 20.00 9.00
Pekisko 1.2 2.3 1,040 33 15.00 9.00
Keg River 9.8 3,000 18 2.00 9.00
Total 9.5 22.9
FIRST MOUNTAIN EXPLORATION LTD. 13

14. BUCK LAKE
BUCK LAKE
¾ section
4 Cardium locations (1.5 net)
Conglomerate lag should
improve IPs
★Anticipated IP:200 bbls/d
★Anticipated UR:120 bbls
★Management estimate
FIRST MOUNTAIN EXPLORATION LTD. 14

15. PROPOSED FINANCING
SHARE ISSUANCEhare
Flow-through shares $5 Million
Common shares $5 Million
Total Financing $10 Million
USE OF PROCEEDS
Drilling $ 5 Million
Acquisitions $ 4 Million
Seismic $ 1 Million
$ 10 Million
FIRST MOUNTAIN EXPLORATION LTD. 15

16. CONCLUSION
 Team with a proven track record
 Exciting conventional exploration block:
• Large land position
• Multiple exploration targets per well
• Scalable discoveries
• GLJ Resource Evaluation
 Resource play potential
 Continuing to evaluate drilling opportunities and
acquisitions
 Potential to discover a large company size pool
FIRST MOUNTAIN EXPLORATION LTD. 16

17. CONTACT
William Ambrose, President & CEO
bill.ambrose@first-mountain.com
(403) 453-2266 ext. 224
FIRST MOUNTAIN EXPLORATION LTD.
Erin Plante, Executive Assistant 1050, 521 – 3RD AVENUE SW
erin.plante@first-mountain.com Calgary, AB
(403) 453-2266 ext. 221 T2P 3T3
FIRST MOUNTAIN EXPLORATION LTD. 17