TSXV:CZZ

Corporate Presentation

March 2019 DISCLAIMER

Non-Commercial Individual Reference Use Only

 The entire contents of this presentation are protected by copyright and may be used and copied for non-commercial, individual reference only. Any other use of the contents of this presentation is prohibited unless the user first obtains the Company’s written permission.

No Offer to Purchase Securities

 The information in this presentation is intended for use only by persons resident in jurisdictions where such use is lawful. Nothing on this presentation constitutes, and under no circumstances is to be construed as, an offer or solicitation to purchase securities of, or advertisement for, securities of the Company. The securities of the Company have not been registered under the United States Securities Act of 1933, as amended or any state securities laws.

No Warranties

 The information in this presentation is provided “as is” and without warranty of any kind. Although it is believed to be accurate as of this date, the Company disclaims all liability for any failure to update it. This presentation could include inaccuracies, typographical errors, or out-of-date information, and changes to it may be made at any time without prior notice. You are therefore advised to use this presentation at your own risk.

Forward Looking Statements

 Certain statements contained in this presentation (including information incorporated by reference) are "forward looking statements". Our forward-looking statements include, without limitation: The sensitivity of earnings, cash flows and financing to gold and other metal prices; Statements as to the projected exploration and development of certain properties, including estimates of development and other capital costs and financing plans for these projects; Estimates of future production costs and other expenses; Estimates of future capital expenditures and other cash needs, and expectations as to the funding thereof; Estimates of future costs and other liabilities for environmental matters; Estimates of reserves, and statements regarding future exploration results and reserve replacement; Statements regarding future transactions relating to portfolio management or rationalization efforts; and Estimates regarding timing of future capital expenditures and exploration, development, production or closure activities. This list is not exhaustive of the factors that may affect our business, our value as a company, and our forward looking statements. Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Such risks include, but are not limited to: the price of gold; currency fluctuations; geological and metallurgical assumptions; the results of exploration; operating performance of equipment, processes and facilities; labor relations; timing of receipt of necessary governmental permits or approvals; domestic and foreign laws or regulations, particularly relating to the environment and mining; domestic and international economic and political conditions; the ability of the Company to obtain or maintain necessary financing; and other risks and hazards associated with mining exploration, development and operations. Given these uncertainties, readers are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

Use of Information

 Any information communicated to the Company through this presentation becomes the Company’s exclusive property. the Company shall be entitled to use any such information for any purpose without restriction or compensation to any person. Such information provided by the user shall be deemed to be non-confidential.

Technical Information

• Unless otherwise indicated, the technical information presented herein has been reviewed by the Company’s Chief Executive Officer, Glenn J. Mullan, P.Geo, a qualified person in accordance with National instrument 43-101 – Standards for Disclosure for Mineral Projects.

TSXV:CZZ SHARE STRUCTURE

Ticker Symbol (TSXV) CZZ (Greys) CLGMF

Price (March 26, 2019) $0.08 Total Issued and Outstanding Shares 21,208,618 Warrants 6,181,674 Options 250,000 Insiders 7,773,928 Friends and Family 1,650,000 Approximate Public Float 11,784,690

CZZ Ownership

Insiders

37% Friends and Family 55% Approximate Public 8% Float

TSXV:CZZ OVERVIEW OF CLEGHORN MINERALS

• On August 18, 2016, completed the acquisition of the Meech Lake – Matachewan Prospect, which served as Cleghorn’s QT

• 2018 exploration program completed at Meech Lake

• New mineralization was intersected in DDH ML-18-017 located between the historical Waterhole Showing (Au-Ag-Zn) and the Kell’s Showing (Ni-Cu-PGE)

• Proposed 2019 exploration program:

• mapping and surface sampling

• Reviewing new opportunities: Canada and International

TSXV:CZZ MANAGEMENT

Management

Glenn J. Mullan, B. Sc., P. Geol. – President & CEO, Director • President & CEO – Golden Valley Mines Ltd. • Chair – Abitibi Royalties Inc.

Isabelle Gauthier - CFO • Over 20 years of accounting experience

Additional Directors

Joseph Groia, LL.B. • Principal of Groia & Company Professional Corporation • Director – Golden Valley Mines Ltd.

Andrew T. Pepper, B. Comm. • President of Link Plan Management • Director – Abitibi Royalties, Val-d’Or Mining, International Prospect Ventures

TSXV:CZZ MEECH LAKE – MATACHEWAN PROSPECT

• 100% interest in 41 cells covering an area of 833.6 ha • Historical work dates to 1940’s for gold and base metals • Unique geological signature at Ni-Cu-PGE occurrence targeted in current geophysical program • Gold showings to be reviewed in context of recent discoveries and production nearby in Matachewan

TSXV:CZZ

OVERVIEW OF MEECH LAKE – MATACHEWAN PROSPECT

• 41 cells situated in Argyle, McNeil and Robertson Townships, approximately 55 kilometres southeast of Timmins, Ontario; South-central part of Abitibi Greenstone Belt • NI 43-101 compliant technical report • Ni-Cu-PGE (1) and gold potential (2 occurrences) in three historic mineral occurrences in three mutually exclusive geological environments • Mineral exploration history dating back to 1930s in local area, and 1950’s on the property • 2018 exploration program complete inclusive of 17 ddh’s, geophysical surveys, mapping and surface sampling

TSXV:CZZ MEECH LAKE – MATACHEWAN PROSPECT 2018 EXPLORATION PROGRAM RECAP

• Seventeen (17) drill-hole program, totaling 1,836 metres, completed; • Campaign of excavating seven (7) selective historical pits and trenches completed; • 1.0% Ni, 1.97% Cu, 3.70 g/t Pd, 0.96 g/t Pt, 0.46 g/t Au & 7.49 g/t Ag over 3.25 metres intersected in ML-18-011 at the Kell’s Showing; • 2.45 g/t Au, 16.70 g/t Ag & 1.58% Zn over 0.55 metres intersected in ML-18-003 and 1.52 g/t Ag & 0.99% Zn over 3.35 metres, including 2.06g/t Ag & 1.41% Zn over 2.30 metres, and 4.80g/t Ag & 2.04% Zn over 0.85 metres intersected in ML-18-005 at the Waterhole Showing; • 1.62g/t Au, 7.87g/t Ag & 2.44% Zn over 2.15 metres, including 2.52 g/t Au, 5.60g/t Ag and 3.14% Zn over 1.15 metres intersected in ML- 18-017, and representing a new drill discovery on the property

TSXV:CZZ

ML-18-017 cross-section OVERVIEW OF MEECH LAKE – MATACHEWAN PROSPECT (cont’d)

Hugh Kell’s Argyle Camp - 1947 Hugh Kell in a Work Trench - 1956

Source: Holley, F. Just Passing Through: The People and Places North of Matachewan, 4th edn., White Mountain Publications, Cobalt, Ontario. TSXV:CZZ

OVERVIEW OF MEECH LAKE – MATACHEWAN PROSPECT

TSXV:CZZ CLEGHORN MINERALS RECAP

• 2018 exploration program completed at Meech Lake Prospect

• New mineralization was intersected in DDH ML-18-017 located between the historical Waterhole Showing (Au-Ag-Zn) and the Kell’s Showing (Ni-Cu-PGE)

• Proposed 2019 exploration program:

• mapping and surface sampling

• Reviewing new opportunities: Canada and International

TSXV:CZZ APPENDIX SPRAGUE CLEGHORN

Henry William Sprague "Peg" Cleghorn (March 11, 1890 – July 12, 1956) was a Canadian professional player from Westmount, Quebec who played 17 professional seasons between 1911 and 1929 for the Renfrew Creamery Kings and Wanderers in the National Hockey Association (NHA) and the Ottawa Senators, and in the (NHL). He was a member of three championship teams, winning with the Senators in 1920 and 1921 as well as with the Canadiens in 1924.

A tough and physical , Cleghorn had a reputation for violent play; he was subject to efforts to have him banned from the NHL. His reputation made him an effective defender, and he used his offensive skill to become one of hockey's first offensive defencemen. At the time of his retirement, Cleghorn's 169 career goals were second most in professional hockey history by a defenceman. He was inducted into the in 1958.

Source: https://en.wikipedia.org/wiki/Sprague_Cleghorn TSXV:CZZ