DERISKING THROUGH PRODUCTION

TSX.V: GMA

CORPORATE PRESENTATION

OCTOBER 2017

GEOMEGA2

FORWARD-LOOKING STATEMENTOur presentation contains “forward-looking statements” not based on historical facts. Forward-looking statements express, as of the date of this presentation, our estimates, forecasts, projections, expectations and opinions as to future events or results. The forward looking statements that are contained in this presentation are based on various assumptions and estimates by the Corporation and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecast or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Corporation’s filings with Canadian Securities Administrators. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Corporation expressly disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

GEOMEGA3

WHY INVEST IN GEOMEGA?

Developing a sustainable, proprietary technology free of organic solvents for REE separation

Derisking the technology through oxide production from residues sourced from end users

CTO is secured long term with a royalty structure connected to commercialization

A unique reverse approach to developing an industrial mine

Gearing towards operating the first North American REE separation facility

Provincial and Federal support

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GEOMEGA4

FROM MINE TO OXIDE - REVERSE APPROACHMONTVIEL DEPOSIT – REE, Nb

• 100% Owned by Geomega

• Permanent road access

• Proximity to public infrastructure (power, rail road)

• Located in the booming region of Lebel-sur-Quévillon / Windfall

with large infrastructure developments

• World class Neodymium carbonatite deposit to supply the

growing permanent magnet and electric vehicle industries

• Patented low acid and low power consuming metallurgical

process

INNORD INC. - SUSTAINABLE REE SEPARATION

• Private subsidiary of Geomega – 96.1% owned

• 3.9% equity partner (Quebec regional funds)

• Developing a solvent free alternative for REE separation

based on electrophoresis

• Provincial and Federal Government support

• Technology licensed to Geomega for 0.5% Royalty

Continuous financing (equity)

Exploration, drilling, resource Process

development Separation tech. development

Process optimization

Separation de-risking and small scale production FINANCING

MINE & PROCESS

Construction & Production

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MINE PROCESS SEPARATIONOreExploration, drilling, resource estimation, PEA, FS, reserves,

construction

Process development, optimization, pilot plant,

construction

Technology dev., scale up, demonstration, de-risking, small scale

production, mine scale production

• 1 kg/day module• Process industrial residues &

commercial concentrates• Validation by end users• Industrial unit / pilot plant

• CAPEX and OPEX• Potential sales• Work with end users

• Cash flow• Traditional equity• Debt financing• Royalties / JV / M&A

• PEA, FS, reserves• Pilot plant

Separation scale up and demonstration

GEOMEGA5

INNORD - SEPARATION TECHNOLOGY

Winter 2014 Summer 2016 Fall 2017Number of separation units 1 in Germany 3, in-house 3, in-houseTotal Capacity of prototypes, gREO/run < 1 ≈ 10 ≈ 1,000Approx. Cost of the prototypes ($) 150,000 15,000 15,000Type of sample separated Synthetic Synthetic Industrial ResiduePurity (%, in solution) of separated REE 94 to 98 85 to 90 85 to 95Single run recovery (%)** 70 to 90 40 to 55 60 to 90

• Successfully scaled up to 1 kg capacity

• Operating in very high concentrations allows for a more cost-effective scale up

• Processing industrial residues (40%-50% TREO & 1%-2% cobalt) – up to 4 REE, primarily Nd & Dy

• Production of 99% TREO concentrate + cobalt by-product of 99.8% purity

• Nd & Dy separation to 95% purity

• Working with end users to process their waste and sell them back the oxide

• Off the shelf equipment modified to our separation technology

• Sustainable technology without the use of any organic solvents

• Flexible technology allows processing of various rare earth feeds

• Modular approach to mitigate scale up risks and allow gradual increase in capacity

• Has been used for group separation on a commercial mine concentrate – moving towards producing high purity individual oxides

GEOMEGA6

INNORD – UPCOMING MILESTONESVarious industrial residues

Waste Cobalt 99.8%REE concentrate 99%

• Demonstrate 99% purity for Nd & Dy

• REE purity validation by end users

• Engineering study for initial industrial / pilot unit to be set up in Boucherville for continuous processing of residues

• Separation of REE from additional residues enriched in other REE including neighbor elements

• Secure supply of residues with several end users, focus on Europe and North America

• Sign purchasing agreements with end users for production from pilot unit

• Cobalt purity validation by end users• Evaluate opportunities to monetize waste

UPC

OM

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MIL

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ACCO

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GEOMEGA7

MONTVIEL DEPOSIT (Nd, Pr & Nb)

NSR Value(CA$/tonne) Category Million

TonnesTREO Grade (%)

335 Indicated 82.4 1.51312 Inferred 184.2 1.43

Indicated Resources Inferred Resources82.4 million tonnes 184.2 million tonnes

REE Oxide Oxide Grade(%)

ContainedOxide (M kg)

OxideGrade (%)

ContainedOxide (M kg)

Lanthanum La2O3 0.1 329.5 0.36 666Cerium Ce2O3 0.73 604.9 0.7 1,290.7Praseodymium Pr2O3 0.08 63.2 0.075 137.4Neodymium Nd2O3 0.25 202 0.24 448.2Samarium Sm2O3 0.026 21.1 0.025 45.4Europium Eu2O3 0.005 4.3 0.005 8.7Gadolinium Gd2O3 0.009 7.7 0.008 15.2Terbium Tb2O3 0.001 0.6 0.001 1.3Dysprosium Dy2O3 0.003 2.2 0.002 4.4Yttrium Y2O3 0.008 7 0.008 13.8Total TREO 1.51 1,242.5 1.4 2,631.2Niobium Nb2O5 0.17 141.3 0.13 242.3

• Mineral resources are estimated and reported in compliance with NI 43-101 (June 17, 2015)• Based on NSR cut-off value of CA$180 per tonne

• World class scale REE deposit

• Large resource with favorable distribution towards Nd & Pr – focus on

permanent magnets for the EV and Wind power sectors

• Heavy REE zone enriched in Dy & Tb

• Envisioned as underground operation

• Major infrastructure development in the sector by Osisko Mining

centered around Lebel-sur-Quévillon

>0.2% Nd2O3

>0.3% Nd2O3 and/or >0.5% Nb2O5

>0.4% Nd2O3 and/or >0.75% Nb2O5

Heavy REE

36 59B 34 51 32D 49 31

SECTION 6+80W

WINDFALL(Osisko)

MINE JOE-MANN

Chibougamau

Waswanipi

Chapais113

113

167

Lebel-sur-Quévillon

Réservoir Gouin

BACHELOR MINE(Metanor/Kirkland)

OSBELL)(Osisko)

Montviel

ALS Laboratory

GEOMEGA8

MONTVIEL METALLURGY

• Proven fluorocarbonate minerals

• High recoveries

• Low acid and power consumption

• Priority patent filed on the process flow sheet after the flotation step (US 62/180,663)

• Mining scenario: 2,500 T/D ROM

• Flotation: 92.6% REE in 45.5% MPi

• Chlor-Alkali is proposed to produce HCl and NaOH

• Bases: NaOH, NaHCO3, Na2CO3

• Nb extraction with HCl in an autoclave reactor (No HF)

• Solvent extraction for Nb recovery

• Essential reagents are produced and regenerated on site

• Potentially fully powered by electricity

Reagents for leaching and precipitation of REE,

Montviel Hydrometallurgy, 2,500 T/D ROMDIRECT HCL LEACHING CURRENT PROCESS

Kg/T ROM kg/T ROM

HCl (100%) 293 63.2

Base (NaOH) 321 69.3

Oxalic Acid 17.3-86.5 -

Energy & economy estimation of leaching section, major units

DIRECT HCL LEACHING MODIFIED LEACHINGPROCESS

M$ MW M$ MW

Chlor-Alkali 150ii 100ii 40iii 20iii

Calciner - - 6iv 17iv

Ammoniation - - 10iii -

Total 150 M$ 100 MW 56 M$ 37 MW

Savings 94 M$ 63 MW

Savings % 62.6% 63%

i Dr. Tesfaye Negeri, Canmetii Quotes from suppliers, 2013iii Estimated by Geomegaiv Quotes from suppliers, 2015

2012 2013 2014 2015H2SO4 H2SO4+HCl HCl HCl

High power consumption

>180 MW consumption

~100 MW consumption

<60 MW consumption

High acid consumption

High acid consumption

~300 kg/MT HCl

Lower acid consumption and

acid recycling ~175 kg/MT

Acid 58 kg/t & full regeneration

RecoveriesREE ~ 80%

Nb – 0%

RecoveriesREE ~ 80%

Nb – 0%

RecoveriesREE ~ 75%

Nb – 0%

Recoveries: Nd – 91%Pr – 92%Nb – 66%

Mixed REO Mixed REO Mixed REO Mixed REO & Nb2O5

Gradual improvement from 2012 to 2015

GEOMEGA9

REE MARKET UPDATE

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REO

($/k

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Pr Nd

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REO

($/k

g)

Dy Tb Eu

Source: Bloomberg

• Positive trend for all the REO prices in 2017

• Electric vehicle market (Tesla, Volvo, VW, etc…) is heating up resulting in more demand for permanent magnets (Nd, Pr, Dy and Tb)

• Governments are setting targets for vehicle electrification - support for long term growth of the industry

• Tesla shifting to PMAC motor in Model 3 is a strong indication of demand growth for permanent magnets

• Wind power capacity is growing and is getting cheaper (up to 200kg of REE per 1MW*)

• Tightening of the illegal REE market in China is helping the market

• Nd, Pr and Dy will continue being the main elements by value in the REE space

• Growing production capacity, lower cost and stronger batteries to support the electric vehicle revolution

• Anywhere between 300-700g of Nd per PM in electric vehicle depending on the model**

*Source: Oeko-Institut**Source: REE: A new approach to the nexus of Supply, Demand and Use, Volker 2003. These estimates continue evolving with new development and new models

Source: Bloomberg

GEOMEGA10

Pouya Hajiani, Ph.D, Chief Technology Officer• VP Exploration of Géomega Resources & Kintavar Exploration• Previously process engineer with IFP Group and supervisor in

process simulator development in the petrochemical industry• Holds a Ph.D in chemical engineering from Laval University

Alain Cayer, P.Geo, M.Sc, Vice President Exploration• VP Exploration of Géomega Resources & Kintavar Exploration• Previously project geologist with Virginia Mines, Eleonore Project• Holds a M.Sc. in geology (mineral resources) from UQAM

Ingrid Martin, CPA, CA, CFO• Currently the CFO of Kintavar Exploration, Midland Exploration

and Hinterland Resources. Director and CFO of Sphinx Resources. • Previously CFO of Melkior Resources, Strateco Resources,

Stakeholder Gold and Maudore Minerals.• Holds a B.Sc. in accounting from HEC.

Kiril Mugerman, President & CEO• President/CEO of Géomega Resources & Kintavar Exploration• Previously exploration geologist with Gold Fields Ltd. and mining

analyst with Industrial Alliance Securities• Holds a B.Sc. from McGill University in Earth & Planetary Sciences

Gilles Gingras, CPA, CA• Retired and former Partner in audit and advisory services at Deloitte

LLP (1987 to 2013)• Member of Deloitte LLP Canadian Board of Directors and of its finance,

risk management and governance committees from 2002 to 2010

Mario Spino, M.Sc• Model validations for National Bank of Canada• Previously principal advisor with KPMG on financial market risk

management and derivatives evaluation• Holds a M.Sc. in financial engineering from HEC

Kosta Kostic, B.C.L./LL.B. • Partner and member of McmIllan LLP National Capital Markets and

M&A group• Practice focused on corporate finance, securities and M&A in the

mining, renewable energy and information technology.

MANAGEMENT BOARD OF DIRECTORS*

*The proposed slate of directors for the 2017 AGM scheduled on October 19

GEOMEGA11

FINANCIAL SNAPSHOTCapital Structure*

Shares Outstanding: 78,258,049

Warrants: 5.7M @ 0.09$ - 02/181.3M @ 0.23$ - 06/184.1M @ 0.21$ & 0.25 – 11/18 & 12/18

Options: 4,450,000

Fully Diluted: 95,017,055

Current assets: $396,629PP Conv. Debenture $235,000 in 08/17

* As of 31/05/2017

GMA Shareholder Structure

QC Institutional Funds 11.7%Nexolia 6.2%Major Private Investor (US)* 5.1%Management & Directors 3.9%

*Approximately

CONTACT US

Kiril Mugerman, President & CEOkmugerman@geomega.ca

Alain Cayer, VP Explorationacayer@geomega.ca

Ressources GéoMégA75 Boul. de MortagneBoucherville, QC J4B 6Y4Canada

+1 450 641 5119

www.geomega.ca