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February 16, 2017

TSX-V : GRO

CORPORATE PRESENTATION

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Forward Looking Statements and RisksCertain information and statements herein respecting GrowMax Resources Corp. and its subsidiaries (collectively “GrowMax” or the “Company”), the Company's properties or anticipated financial results or performance of the Company or its properties contain forward-looking information within the meaning of applicable securities laws including, but not limited to: the results of the Preliminary Economic Assessment; expectations regarding production and cost guidance; references to mineral resource estimates, mine life (including extensions of mine life), future growth, potential expansion, exploration activities, construction and operation of new facilities; developing deposits (both phosphates and brine/potash); future work related to the Company’s brine/potash project at Bayovar, including potential production of SOP; future work related to the expansion of exploration/drilling and economic assessment activities of the Company’s phosphate deposits; initiating a pre-feasibility study or a feasibility for phosphates and/or SSP; strategic plans; the consideration, timing and costs of an SSP Plant; demand for SSP; the results of our studies of an SSP plant; enhancing existing and implementing new environmental and community relations initiatives; reduction of spending and preserving cash; exiting from Argentina; advancing the phosphate mine, including optimizing capital and operating costs; negotiating and improve fiscal terms; developing a larger domestic market; and the ability of the Company to generate early cash flows.

Forward-looking information is not based on historical facts but rather is based on expectations. The words or variations of the words “anticipate”, “contemplating”, “develop”, “estimate”, “expect”, “exploration”, “flexibility”, “focus”, “future”, “model”, “option”, “pending”, “plan”, “potential” and “priorities”, and statements that certain actions, events or results will affect, or will occur or result, and similar such expressions, identify forward-looking information. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant uncertainties and contingencies. Such forward-looking information reflects management’s current beliefs and assumptions and is based on information currently available to GrowMax Resources’ management. Forward-looking information involves significant known and unknown risks and uncertainties.

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking information, including but not limited to, risks associated with the natural resources industry; the uncertainty of mineral resource estimates; the uncertainty of geological interpretations; the uncertainty of estimates and projections in relation to costs; the risk of commodity price and foreign exchange rate fluctuations and other risks identified in our filings with the securities regulators in Canada, including but not limited to those cautionary statements made under the headings “Business Risk Factors” and “Forward Looking Information” in our management’s discussion and analysis for the year ended December 31, 2015 and under the heading “Forward Looking Information” in our management’s discussion and analysis for the period ended September 30, 2016. These factors are not intended to represent a complete list of the factors that could affect the Company. All forward-looking information contained in this press release are expressly qualified by this cautionary statement.

This forward-looking information is made as of the date hereof and the Company undertakes no obligation to update or revise this information to reflect new events or circumstances, except as required by applicable law. Because of the risks, uncertainties and assumptions inherent in forward-looking information, prospective investors in the Company’s securities should not place undue reliance on this forward-looking information.

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Preliminary Economic AssessmentThis presentation includes information based on a Preliminary Economic Assessment (“PEA”) dated October 26, 2016. The PEA was prepared by or under the supervision of the following qualified persons (“QP”):• The Mineral Resource Estimation was prepared by Golder Associates, under the supervision of Jerry DeWolfe, MSc. P.Geo, an independent Qualified Person as defined under NI 43-101.• The Mine Plan and mining operation related costs were prepared by Golder, under the supervision of Denis Mayer, P.Eng, an independent Qualified Person as defined under NI 43-101.• The beneficiation testwork, subsequent process plant design and operation related costs were peer reviewed by Michael Kelahan, an independent Qualified Person as defined under NI 43-101.• The beneficiation testwork and subsequent process plant design and operation related costs were prepared under the supervision of Ewan Wingate, AusIMM (CP-Met), an independent Qualified Person as defined under NI 43-101.For additional information, please refer to the Company’s news release entitled “GrowMax Announces Results of a Preliminary Economic Assessment for Phosphates on Bayovar 7 Concession, Peru” dated September 12, 2016. The PEA is preliminary in nature and includes indicated and measured mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the PEA will be realized.

Phosphate Mineral Resource EstimateQualified PersonsThe scientific and technical information within this presentation, other than the Phosphate Mineral Resource Estimate (see below) and the Potash Mineral Resource Estimate (see below), was prepared under the supervision of John A. Nicholson, P.Geo, of Geominex, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia and was, at the time of the preparation of the Phoshpate Mineral Resources Estimate, an independent qualified person under NI 43-101.Phosphate Mineral Resource EstimateThe updated resource estimate was prepared by Golder Associates and is available at sedar.com in the report titled “Updated NI 43-101 Mineral Resource Technical Report on the GrowMax Bayóvar Phosphate Project, Piura Region, Perú ” with an effective date of June 27, 2016.The Independent Qualified Person responsible for the preparation of the report is Mr. Jerry DeWolfe, P. Geo., Senior Geological Consultant at Golder.Potash Mineral Resource EstimateThis resource estimate was prepared by Ercosplan and is available at sedar.com in chapter 14 of the report titled “Amended and Restated NI 43-101 Mineral Resource Statement for Mineral Concessions Bayovar 5 to 8, Sechura Area, Piura Province, Peru” with an effective date of January 11, 2013.Qualified PersonsThe qualified person and principal author of the above report is Dr. Henry Rauche, the Managing Director and CEO of the ERCOSPLAN. Dr. Rauche has over 25 years experience in industrial-scale conventional and solution mining of potash ore and rock salt, in particular for sylvinite and carnallite. Dr. Rauche holds a Master’s Degree in Mining Geology from the TU Bergakademie Freiberg, East Germany and has a PhD in Natural Sciences from the Ruhr-Universitat Bochum, Germany.The co-author of the report is Dr. Sebastiaan van der Klauw, EuroGeol who holds a Master’s Degree in Geology and a PhD in Natural Sciences from the Ruhr University Bochum.Currency In this presentation, all references to dollars refer to Canadian dollars unless otherwise stated.

GROWMAX RESOURCES CORP.4

Stock Exchange

GRO –TSX VentureTotal Shares O/S

215 Million (235 Million Fully Diluted)

Insiders

60 Million shares (28%)

Share Price

$0.155(As of Feb 15,2017)

Market Capitalization

$33 Million(As of Feb 15,2017)

Working Capital

$51 Million$44M cash & no debt(As of September 30, 2016)

An international mining and fertilizer company headquartered in Calgary with phosphates and potash brine exploration blocks in Peru.

STRATEGY AND SPENDING GUIDANCE

Advance projects targeting early cash flow

Begin construction of solar evaporation ponds for the Sulfate of Potash (SOP) pilot project

Continue Engineering Evaluation of Single Super Phosphate (SSP) Project

Complete market studies for local sales of potential fertilizer products

Focus on domestic and regional markets with higher margin potential first

Advance long-term, large resource project

Optimize phosphate rock mine plan and design

Progress social, environmental and permitting licence

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2017 CAPEX GUIDANCE: US$10 million

2017 G&A GUIDANCE: US$3.4 million

WHY GROWMAX?

• Focus on Fertilizers

• Large phosphate resource base with significant potential

• Two low capex, early cash flow potential projects to allow for long term growth and viability

• Peru: Development and Investment friendly jurisdiction

• Exceptional infrastructure and proximity to growing fertilizer markets

• Professional, experienced Management and Board of Directors

• Strong balance sheet

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TARGETS AND DELIVERABLES7

Reduce spending and preserve cash Complete sale of Argentine E&P

subsidiary Complete internal economic review for

low capital, early cash flow projects Phosphate project Preliminary Economic

Assessment (PEA) Enhance Management with focus on

fertilizers Develop plans to achieve cash flow by pursuing

construction of a fertilizer plant Commence development of SOP pilot project Continue to advance phosphate project to

realize upside potential Negotiate Long-term Offtake Agreements Potential Joint-Venture Opportunities

OPERATIONS OVERVIEW8

PERU:

• Phosphate, Potash and other non metallic minerals exploration blocks

• Approx. 227,000 gross acres (208,000 net acres)

NORTHERN PERU:• Regional Office in Piura• Bayovar Concessions:

CANADA:• Public Listing TSXV: GRO• Corporate Headquarters

LIMA: PERU HEAD OFFICE

Lima

Bayovar

BAYOVAR AREA9

*Vale: Vale Annual Report, March 31, 2016 SEC EDGAR Filing. Fosfatos: Cementos Pacasmayo Annual Report, April 29, 2016 SEC EDGAR Filing. Focus: 43-101 Update April, 2016. SEDAR Filing. Fosyeiki: company website. There can be no assurance that GrowMax’s properties will have similar levels of production in the future.

Vale/Mosaic

BayovarPort

Pan American Highway

GROWMAX BAYOVAR

Adjacent to producing mines and other Phosphate Projects

VALE / MOSAICProduction: 3.9 Mt/Year phosphate rock

FOSFATOS DEL PACIFICO

Project development

FOCUS VENTURES Pre-Feasibility Study release

FOSYEIKI Production: <0.1 Mt/year phosphate rock

PROXIMITY TO INFRASTRUCTURE

In the vicinity of Major roads, power plants and port facilities

Bayovar

STRATEGIC PARTNERSHIP: IFFCO

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• Indian Farmers Fertiliser Cooperative (IFFCO) -world’s largest fertilizer co-op with 34,000 cooperatives and > US$4 Billion annual revenue• IFFCO Associates hold 14.5% of

GrowMax shares • IFFCO also holds 8% of GrowMax Agri

Corp.

• GrowMax holds 92% of subsidiary, GrowMaxAgri Corp., which has 100% interest and operatorship of the Bayovar concessions in Peru through its wholly-owned subsidiary, Americas Potash Peru SA (APPSA).

• GrowMax is currently advancing a phosphate rock Offtake Agreement with IFFCO.

GrowMax Resources Corp.(GRO:TSX-V)

14.5%

8%GrowMax Agri Corp.(private Alberta Co.)

92%

Americas Potash Peru SA (APPSA),private Peru Co. holding 100% of

Bayovar Concessions

100%

DIRECTORS AND OFFICERS11

Abdel (Abby) Badwi – Executive Chairman Vice Chairman and Past CEO of Bankers Petroleumand Rally Energy

Ken Geren – Director Portfolio Manager of Point72 Asset Management

Ron Ho – Director Vice President Finance of Sandstorm Goldand Sandstorm Metals & Energy

Rakesh Kapur – Director Joint Managing Director of the Indian Farmers FertiliserCooperative (IFFCO), IFA Vice President and Chairman Finance Committee

Carlos Lau – Director President of Electra Holdings and Past Executive Chairman of Americas Petrogas

Ross McCutcheon – Director Past Managing Partner of Maitland and Co.

Stephen Keith – President Geological Engineer and MBA, past Managing Director of Fertoz Ltd. (Phosphate Canada), CEO of Rio Verde Minerals (Phosphate & Potash Brazil), VP Investment Banking of Thomas Weisel Partners

Douglas Yee –Chief Financial Officer Chartered Accountant, past Treasurer and Corporate Controller of Triton Mining Corporation, Various accounting and finance positions with Royal Oak Mines

Jamie Somerville – Executive Vice PresidentFinancial Analyst., past VP & Director, Equities Research with TD Securities

Edward Tapuska –Corporate Secretary Partner at Osler, Hoskin & Harcourt LLP

WHY PERU?12

• Second highest investment grade in Latin America BBB+ to A3

• Stable and/or improving macroeconomic conditions, trade, market access and fiscal policies designed to maintain significant private investment

• Ability to repatriate capital• Rapidly improving infrastructure• Peru’s rapidly growing agricultural

exports are a key driver behind fertilizer demand

• After Asia, Latin America is expected to see the largest increase in fertilizer demand globally through 2020/2021

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PHOSPHATE

Large Scale, long term value driver

PHOSPHATE RESOURCE EXPANSION DRILLING

• Completed extensive drillholeprogram in Q4-2015 and Q1-2016

• Target on Bayovar blocks 5 and 7 (near surface + Shallow beds)

• Updated 43-101 Resource Estimates

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Bayovar 5 Bayovar 6

Bayovar 7

Bayovar 8

Nuevo Bayovar

PHOSPHATE MINERAL RESOURCES, June 2016 43-101 UPDATE15

AreaVertical

Thickness (m)Dry Tonnes

(MT)**Wet Tonnes

(MT)**P2O5 (wt%)

SiO2

(wt%)Dry Density

(g/cm3)Wet Density

(g/cm3)Bayovar 7 0.61 29.7 38.9 12.00 30.90 1.21 1.58

Total Measured 0.61 29.7 38.9 12.00 30.90 1.21 1.58

Table 1: Summary of Measured* Mineral Resources, All Area, All Beds

AreaVertical

Thickness (m)Dry Tonnes

(MT)**Wet Tonnes

(MT)**P2O5 (wt%)

SiO2

(wt%)Dry Density

(g/cm3)Wet Density

(g/cm3)Bayovar 7 0.60 137.4 181.0 12.33 31.38 1.20 1.58

Bayovar 6S/8N*** 0.47 11.9 15.8 14.20 29.48 1.18 1.56

Total Indicated 0.59 149.3 196.8 12.48 31.23 1.20 1.58

Table 2: Summary of Indicated* Mineral Resources, All Area, All Beds

Table 3: Summary of Inferred* Mineral Resources, All Area, All Beds

AreaVertical

Thickness (m)Dry Tonnes

(MT)**Wet Tonnes

(MT)**P2O5 (wt%)

SiO2

(wt%)Dry Density

(g/cm3)Wet Density

(g/cm3)Bayovar 5 0.48 26.5 34.6 12.17 35.37 1.21 1.58Bayovar 7 0.58 63.7 83.8 11.94 31.34 1.21 1.58

Bayovar 6S/8N*** 0.42 114.5 151.6 13.86 29.94 1.17 1.54

Bayovar 8S*** 0.46 225.4 298.8 14.10 28.97 1.17 1.54

Total Inferred 0.47 430.1 568.8 13.60 29.97 1.18 1.55* Measured, Indicated and Inferred Mineral Resources, no minimum thickness applied. ** MT: million tonnes*** Previously reported values have not changed.****For further details, refer to “Updated 43-101 Mineral Resources Technical Report on the GrowMax Bayovar Phosphate Project, Piura Region, Peru” with an effective date of June 27, 2016 and filed on SEDAR on August 11, 2016.See slide 3 for disclosure related to Phosphate Mineral Resources. Also see news release dated June 27, 2016. These mineral resources are not mineral reserves and do not have demonstrated economic viability.

BAYOVAR 7 PEA PHOSPHATE FOCUS

• Bayovar 7 29.7 MT Measured Resources (12% P2O5)

137.4 MT Indicated Resources (12% P2O5)

• Shallow depth, phosphate beds near surface

• 12% average P2O5

• Preliminary Economic Assessment (PEA) completed in Q3-2016 to develop a 1 Million tonne per annum mine on Bayovar 7****

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*See slide 3 for disclosure related to Phosphate Mineral Resources. Also see news release dated June 27, 2016.**These mineral resources are not mineral reserves and do not have demonstrated economic viability.***For additional information, please refer to the Company’s news release entitled “GrowMax Announces Results of a Preliminary Economic Assessment for Phosphates on Bayovar 7 Concession, Peru” dated September 12, 2016. ****Preliminary Economic Assessment (“PEA”) dated October 26, 2016 and filed on SEDAR on October 27, 2016.

Preliminary Economic Assessment (PEA)

• Production: 1.0 million tonnes per year of beneficiated phosphate rock over a 20-year mine life.

• Rock phosphate content: 28% P2O5 with scrubbing and de-sliming. Upgraded with froth flotation to 30% P2O5.

• Sales Price: 30% P2O5 US$137.56 Life of Mine average per tonne with 70% of sales assumed exports and 30% assumed to be sold in domestic and regional (higher margin) markets.

NPV (10%) After-Tax: US$71 million*

IRR: 13.3%**

Payback : 7 years**

* Highly sensitive to phosphate sale price

** Without financial leverage

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PEA –CAPEX & OPEX18

Life of Mine Value (2016 USD)

Item $millions $/t of productDiscounted, 10%

USD Millions

Mining Operating Costs $879 $44.9 $354

Beneficiation Operating Costs $254 $13.0 $99

G&A Operating Costs $267 $13.7 $103

Total Operating Costs $1,400 $71.5 $556

Life of Mine Value (2016 USD)

Item $millions $/t of productDiscounted, 10%

USD Millions

Mining CAPEX $36 $1.8 $29

Beneficiation CAPEX $65 $3.3 $52

Infrastructure CAPEX $90 $4.6 $75

Other CAPEX $73 $3.8 $61

Total Project CAPEX $264 $13.5 $216

Sustaining CAPEX $221 $11.3 $103

PEA – SENSITIVITY ANALYSIS19

- 50 100 150

DAPR Produced t

PR Mining Royalties

Profit Sharing

Total Mining Capex

Lease retention…

Total Benefication…

Total Other Capital…

Corporate Tax

Total Benefication…

Total Infrastructure…

Total G&A…

Phosphate Rock…

Total Mining Opex

Price - PR (Domestic)

Price - PR (Export)

NPV (USD Millions)

Model Sensitivity - NPV Impact with 10% Change

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

IRR

(%)

% Change

Sensitivity (IRR %)

Average PR Price OPEX CAPEX

PEA – PRICING ASSUMPTIONS and SENSITIVITIES20

Price* $120 $130

PEA

(increasing

to $139 LT)

$140 $150 $160

NPV10** $(17.9) $32.2 $71.0 $81.2 $129.0 $176.5

IRR 9.1% 11.6% 13.3% 13.9% 16.0% 18.0%

Pay Back 8.7 7.5 7.0 6.6 5.8 5.3

* Real (2016 US$/tonne) Bayovar FOB 30% P2O5

** Present value discounted at 10% nominal, after tax, in US$ millions.

Phosphate Rock Sales Volumes:

• 1 mmtpa

• ~70% Export

• ~30% Domestic

PHOSPHATE - FUTURE WORK

• Additional geological drilling and metallurgical testing to increase confidence levels and understand variability

• Investigating options to market phosphate rock and direct application phosphate rock in Peru and other countries in the region to achieve better pricing

• Evaluating options to optimize capital and operating costs

• Studying the potential to develop the Company’s significant additional phosphate resources on other blocks in the Bayovar area

• Establishing Off-Take Agreements

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POTASH BRINE (SOP) and SSP PROJECTS

Low Capex, Early Cash Flow Projects

BRINE RESOURCES BACKGROUND

• Continuing evaluation of brine resources on Bayovar 5 & 6 for potential development of potash and related products.

• Ercosplan’s Inferred Potash Resource Estimate: 4.9 million tonnes of Potassium Chloride*

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• 2016: mineralogical tests on samples obtained from the pilot evaporation ponds suggest a high content of Kainite suitable for production of Potassium Sulfate (K2SO4, Sulfate of Potash or “SOP”) rather than Potassium Chloride (KCl, Muriate of Potash or “MOP”)

• Currently assessing the economic value to produce a premium potash product such as SOP and progressing SOP pilot project

*See slide 3 for disclosure related to Brine Mineral Resources. These mineral resources are not mineral reserves and do not have demonstrated economic viability.For further details, refer to “Amended and Restated NI 43-101 Mineral Resource Statement for Mineral Concessions Bayovar 5 to 8, Sechura Area, Piura Province, Peru” with an effective date of January 11, 2013.

BRINE 43-101 MINERAL RESOURCE ESTIMATES (2013)24

Resource Category

Salt Reservoir Sand Reservoir

Resource (tonnes)Average

Grade

Resource (tonnes)Average

GradeBrine Mass KCl Content Brine Mass KCl Content

Measured 10,419,000 110,000 1.08% 50,429,000 280,000 0.56%

Indicated 22,515,000 210,000 0.95% 159,234,000 780,000 0.49%

Inferred 140,325,000 1,340,000 0.96% 819,562,000 3,540,000 0.43%

*See slide 3 for disclosure related to Brine Mineral Resources. These mineral resources are not mineral reserves and do not have demonstrated economic viability.For further details, refer to “Amended and Restated NI 43-101 Mineral Resource Statement for Mineral Concessions Bayovar 5 to 8, Sechura Area, Piura Province, Peru” with an effective date of January 11, 2013.

SOP PILOT - SOLAR EVAPORATION PONDS AND SOP PLANT

• Engaged leading global potash engineering consultancy for a design and engineering study for a pilot potash project including evaporation ponds and a process plant, for the production of 5,000 tpy of SOP.

• Process expected to produce soluble SOP, a specialty fertilizer product used in particular in fruit and vegetable irrigation projects in arid climates, such as the coastal regions of Peru.

• The process envisions the production of Kainite and Carnallite in evaporation ponds, which can be processed to produce SOP.

• The process is also expected to produce 185,000 tpy of Sodium Chloride (NaCl).

• GrowMax’s preliminary market investigations suggest significant local demand in northern Peru for soluble SOP.

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COST ESTIMATES AND PRELIMINARY MARKET PRICING INVESTIGATIONS (2016 US$):

• Project CAPEX: US$19.8 million

• Annual OPEX: US$2.1 million

Government of Peru data shows that:

• SOP imports averaged a landed price of over US$600/tonne in 2016.

• Industrial salt (NaCl) exports averaged an FOB price of over US$17/tonne in 2016.

SOP PILOT - SOLAR EVAPORATION PONDS AND SOP PLANT

*For additional information, refer to the news release entitled “Growmax Announces Results of Sulfate of Potash Study” dated February 6, 2017.

SSP PLANT

• Single Super Phosphate (SSP):

Principal phosphate fertilizer for more than a century;

Still an important phosphate fertilizer globally, and is a standard of comparison for other phosphate fertilizers;

Involves reaction of phosphate rock with sulfuric acid - both readily available in Peru

• Market studies by global and local market experts identified significant opportunity to develop a fertilizer business in Peru:

SSP is well suited for a variety of crops and soils in Peru

Demand declined over recent decades, likely due to limited supply.

• SSP manufacturing process is simple, requires minimal technical skill and low capital investment

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• Initial Scoping Study Completed Q3/16 by leading global phosphate engineering consultancy

• Study Confirmed Low Capex, Early Cash Flow Potential

• Detailed Market Studies and Negotiations Planned for 2017 to confirm SSP demand and cost of rock phosphate and sulfuric acid inputs, and moving to potential location selection

SSP PLANT

SSP PLANT FINANCIAL MODEL*29

Cases High Price Base Price

SSP Price $380 $250

Capital $13,670,000 $13,670,000

Production Rate 60,000 60,000

Revenue $22,800,000 $15,000,000

Plant Opex / tonne SSP $51 $51

Sulfuric Acid/tonne SSP $15 $15

Phosphate Rock/tonne SSP $89 $89

Total OPEX/tonne SSP $155 $155

*All amounts in real (2016) USD.

ENVIRONMENTAL RESPONSIBILTY AND COMMUNITY RELATIONS PROGRAMS

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• Enhance the Company’s corporate social responsibility programs and dialogue with communities and government authorities in order to maximize the value of the project to all stakeholders.

• Focus on implementing international environmental standards/practices and minimize the environmental risk and footprint of our operations.

• Engage in active consultation and development of partnerships with our host communities and their residents.

• Implementing a sound community investment program for the local communities with a focus on economic development, job creation and improved quality of life.

STRATEGY AND SPENDING GUIDANCE

Advance projects targeting early cash flow

Begin construction of solar evaporation ponds for the Sulfate of Potash (SOP) pilot project

Continue Engineering Evaluation of Single Super Phosphate (SSP) Project

Complete market studies for local sales of potential fertilizer products

Focus on domestic and regional markets with higher margin potential first

Advance long-term, large resource project

Optimize phosphate rock mine plan and design

Progress social, environmental and permitting licence

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2017 CAPEX GUIDANCE: US$10 million

2017 G&A GUIDANCE: US$3.4 million

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Thank you

GROWMAX RESOURCES CORP.

+1 587 390 7015info@growmaxcorp.comwww.growmaxcorp.com

JPQ Port, Peru40 Kms West of Bayovar