A Green Approach to Sustainable Cash Flow November 2015

CSE: DHC Cautionary Disclaimer Forward-Looking Statements

DISCLAIMER The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning the Company. It should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.

FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements concern the Company’s anticipated results and developments in the Company’s operations and financial condition in future periods, planned exploration and development of its properties and businesses, plans related to businesses and other matters that may occur in the future. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential, forecasts and similar expressions, and include reference to events or conditions that will, would, may, could or should occur. These statements relate to analyses and other information that are based on expectations of future performance, including planned work programs, cash flow forecasts, projected capital and operating costs, and product price assumptions. Statements concerning mineral resource estimates may also constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation: risks related to product price fluctuations; risks related to fluctuations in the currency markets (particularly the Canadian and United States dollars); risks related to the inherently dangerous activity of mining, including conditions or events beyond our control, and operating or technical difficulties in mineral exploration and mining activities; uncertainty in the Company’s ability to raise capital and fund the development of its projects; uncertainty as to actual capital costs, operating costs, production and economic returns, and uncertainty that development activities will result in profitable operations; risks related to reserves and mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently estimated and to diminishing quantities or grades of mineral reserves as properties are mined; risks related to mineral properties being subject to prior unregistered agreements, transfers, or claims and other defects in title; risks related to governmental regulations and obtaining necessary licenses and permits; risks related to the business being subject to environmental laws and regulations which may increase costs of doing business and restrict our operations; risks relating to inadequate insurance or inability to obtain insurance; risks related to potential litigation; risk related to the global economy; risks related to environmental laws; risks related to political, economic, social and regulatory instability. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking statements. The Company’s forward-looking statements are based on beliefs, expectations and opinions of management on the date the statements are made. For the reasons set forth above, actual results may vary from those implied or projected by forward-looking statements and therefore investors should not place undue reliance on such statements. Technical Reports for the Deer Horn Property were prepared by Plateau Minerals Corp and Gary Giroux,Giroux Consultants Ltd. and Moose Mountain Technical Services, consultants to Deer Horn Metals Inc. The Qualified Persons who prepared and supervised these reports under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects, are Bob Lane, P.Geo, Gary Giroux, P.Eng. and Tracey Meintjes, P.Eng.

2 Focused on Building a Top Brand in Natural and Organic Markets

Natural and Organic Markets • Launched chain of natural and organic markets under new brand “Bodhi Natural Market” in Western Q2 2015 • Revenue began in June 2015 • Growth model makes Bodhi one of Western Canada’s leading natural and organic retailing names in just over two years • Highly accomplished management team with significant equity stake

3 Natural and Organic Markets – General

 Organic food retailing = +$3 billion per year in Canada  More than 20 million Canadians buy organic products weekly  66% of shoppers in buy organic weekly  Highly profitable, yet many jurisdictions are underserved  Conventional carry organic products, but these are peripheral to their business—prices higher, quality lower

4 Natural and Organic Markets - Strategy

 Western Canada focus; many populated jurisdictions with weak or no organic supermarkets

 Management has proven operating model • Stricter inventory and cost controls = lower risk • Efficient return of invested capital • Superior long-term earning potential

5 Natural and Organic Markets - Strategy

 Different approach from other natural and organic markets in Western Canada • Layout/atmosphere • Product quality/staff training • Suppliers/inventory management • Location…suburban over urban  New locations at a rate of 2.5 per year – comfortable pace with current management

6 Store #1 – Maple Ridge, British Columbia

 Anchor tenant at single-level mall just off Lougheed Highway (busy 6-lane throughway connecting several municipalities)  Grand Opening held on June 13 -- dignitaries from Maple Ridge and hundreds of local residents in attendance  Produce, frozen foods, bulk, beverages, canned & dry goods, healthy living section, bakery, deli, coffee bar, grab-and-go  Deer Horn progressed from initial concept for new chain to doors open at first store in five months

7 Natural and Organic Markets – Store #1 Open

8 9 10 Maple Ridge Store – First Few Months

 Averaging 130-150 customers per day; lots of repeat business  Over 3,600 shoppers signed up in-store for Bodhi loyalty card  Regular weekly sales, website marketing, flyers, in-store events getting underway  Grass-fed products, snack foods, healthy living among early sales standouts  Late summer blackout in Lower Mainland set us back; now recovering

11 Building the Brand, Ready to Expand

 Excellent lease terms and management’s knowledge of local community enable Bodhi to prove its concept at Maple Ridge while keeping risk in check  Future stores expected to be 1 to 3 times the size of the Maple Ridge location  Cashier tills, coolers, coffee bar for Maple Ridge store acquired during Target Canada liquidation; lots of equipment also purchased for future stores = substantial savings in cost and time

12 Revenue Expectations

 Annual single-store sales anticipated in range of $2-10 million, dictated by size, location, brand penetration  Double-digit operating margins expected at each location before end of its first year – far exceeds industry average  Pro-forma model shows a store’s earnings covering initial investment in 2- 4 years (under various top-line assumptions)  Double-digital annual sales growth typical within industry for new locations as customer base grows, store establishes itself as part of community

13 Why is Store #2 so Important?

 Discounts available from wholesalers grow MUCH larger when a second store is up and running  Advertising dollars and other support from vendors increases as a store network expands  Brand penetration increases significantly as we move from being a single store to a true chain  Spreading Bodhi management overhead across more stores enhances single-store profitability

14 The Bodhi Natural Market Team

Lance Sutherland, President, Bodhi Natural Market - 25 years of conventional and natural/organic grocery experience including 16 years in the Save-on-Foods organization - Joined Planet Organic Market in 2010 and engineered double-digit sales growth as store manager at one of the chain’s Western Canada locations - Food Marketing Institute award nomination as North America’s top manager Tony Gomboc, VP Operations - 10 years’ experience in grocery industry including 6 years at focused on database management, warehouse oversight - Similar positions at Planet Organic Market and Pomme Natural Market Graham Clarke, Manager, Grocery Merchandising - One of Western Canada’s most respected food merchandisers following 20+ years in natural and organic grocery industry - Responsible for product selection, vendor relationships, marketing, inventory management - Career includes positions at Capers Community Markets, Whole Foods Markets, SunOpta Grocery West Distribution, Planet Organic Market, Pomme Natural Market

15 The Bodhi Natural Market Team

Louisa Clarke, Manager, Healthy Living Merchandising - 22 years in natural food industry, including 13 years at Capers Community Market, 4 years with natural food broker Indigo Marketing, plus management positions at and Pomme Natural Market - Responsible for product selection, vendor relationships, marketing and inventory management in Healthy Living Department (includes supplements, body care and lifestyle)

16 DHC Corporate Snapshot

Deer Horn Capital Inc. Symbol CSE: DHC Shares Outstanding 32,254,6531 Fully Diluted 43,260,321 52-Week Range C$0.01 - $0.35 Recent Price C$0.11

1 Deer Horn management and its organic market and consulting teams hold substantial share positions in DHC

17 Deer Horn Management & Directors Tyrone Docherty, President & CEO Former President & CEO of Quinto Mining Inc., where with limited resources in a difficult market he raised more than $30 million and advanced a iron ore property to a viable project. Sold Quinto to Consolidated Thompson Iron Mines in June 2008 for a share value equal to $175M (starting from $4M). Consolidated Thompson eventually sold to Cliffs Resources for $4.9B. Mr. Docherty has been involved in the financial markets for over 30 years. Tony Fogarassy, M.Sc. LL.M., Chairman Lawyer and geologist. Graduated as gold medalist in geological sciences from the University of British Columbia and in law from the London School of Economics. Extensive legal and technical expertise in minerals, oil & gas, coal and renewable energy projects and environmental and aboriginal/indigenous law in Africa, Middle East, Central Asia and North America. Lindsay Gorrill, Director President & CEO of Canada Fluorspar, a public company developing a fluorspar project in Newfoundland. Also CEO of Jayhawk Energy, an oil and gas company with projects in North Dakota and Kansas. An accountant by profession with 19 years’ experience in resource company management. Previously a director and CFO for Quinto Mining which was acquired in June 2008 by Consolidated Thompson Iron Mines. Matt Wayrynen, Director President & CEO of Berkley Renewables Inc., a company active in solar energy development as well as oil & gas. Former CEO of Bralorne Gold Mines Ltd. Extensive venture capital experience and has successfully raised tens of millions of dollars for public and private ventures in Canada, the USA and Mexico. Peter Jensen, Director Bachelor of Science and two law degrees from McGill University. Began his law practice in 1981, focusing on the corporate and securities sectors in British Columbia. Has garnered a wide range of international legal counseling experience with special expertise in trans-border transactions. Board Chairman of RepliCel Life Sciences Inc. Former and current director of many private and publicly traded companies and has assisted with financing in Canada, the United States, Europe, and Asia.

18 To Summarize

 Developing chain of natural and organic markets under “Bodhi Natural Market” brand in Western Canada  Strong team with significant position in Deer Horn common shares  Growth model makes Bodhi Natural Market a leading name in Western Canadian natural and organic food retailing by Q4 2017

19 Contact Info

Tyrone Docherty – President & CEO Tel +1.604.952.7221 [email protected]

Tony Fogarassy - Chairman Tel: +1.604.808.8210 [email protected]

Head Office: 1215C 56th St. P.O. Box 18086 Delta, BC Canada V4L 2M4 Tel +1.604.952.7221

[email protected] www.deerhorncapital.ca

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