NIBLACK

PROJECT,

ALASKA

July, 2020

Corporate Presentation

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CAUTIONARY STATEMENT

DISCLAIMER

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

FORWARD-LOOKING STATEMENTS

This presentation may contain forward-looking statements that are not historical facts. Forward Looking Information includes, but is not limited to,disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and coursesof action; the timing and costs of future exploration activities on the Company’s property; success of exploration activities; permitting timelines andrequirements; requirements for additional capital; environmental requirements; planned exploration and development of properties and the resultsthereof; planned expenditures and budgets and the execution thereof. Often, but not always, forward-looking statements can be identified by theuse of words such as “expects,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will”, “budget”, “scheduled”, “forecasts”, “anticipates”,“potential”, “base case” or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would","might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties, and other factorswhich may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance,or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things,the Company’s corporate strategies, mineral resource estimates and plans for further exploration, which will require additional funding. Theseforward-looking statements are based on management’s current expectations and beliefs (including the belief in the accuracy of the resourceestimate) but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statementsor information. Information in this presentation is not intended to be a comprehensive review of all matters and developments concerning theCompany and Company does not assume any obligation to update, or to publicly announce, any such statements, events or developments, except asrequired by law.

TECHNICAL DISCLOSURE

The technical information in this presentation has been approved by Robert McLeod, P.Geo., the CEO and a Director of the Company and a QualifiedPerson as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").

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ABOUT HEATHERDALE (TSX-V:HTR)

• Advanced-stage Niblack Project: Cu, Au, Zn,

Ag VMS deposit located at tidewater in

southeast Alaska. Inactive since 2012

• 5:1 Rollback completed; new Management

Team and Corporate Vision; $12M market cap

• Excellent resource expansion and exploration

upside at Niblack (multiple targets)

• Significant recent engineering, community,

environmental baseline studies

Major Shareholders

Rob McLeod 11.4%

Sino Capital 8.0%

Rathdowney Resources 1.3%

Trimark Capital 1.3%

* Approx 55% of I & O shares subject to 2 year plus 4 month escrow or lockup for debt settlement

Issued and Outstanding 74.7 M *

Warrants and Options 0.8 M

Fully Diluted 75.5 M

New Director Slate: Rob McLeod,

Don Birak, Ron Stewart, Edie

Thome, Jessica Van Den Akker

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Kincolith

Kitsault

Anyox

Niblack

Gravina Mill Site

Homestake

Granduc

Brucejack

Stewart

Ketchikan

Prince Rupert

Alice Arm

B.C.

ALASKA

50 0 5025 KM

LOCATION

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Premier

Dolly Varden

Scottie

• 100%-owned, 6,200 acre past-producing

gold-rich massive sulphide deposit,

located on tidewater.

• Modern 4 x 5 m underground exploration

access

• Strong exploration potential along strike

and at depth; high-grade areas could be

initially targeting for mining

• Significant drilling, engineering and

permitting previously completed

• Gravina Island site near Ketchikan is

proposed for mill and tailings facility.

• Agreement in place for low-interest

US$125M financing from Alaska

government

NIBLACK DEPOSIT

• Potential Additional Rollback (5:1) and financing

• New technical team, board of directors at AGM, corporate

rebrand

• Two additional polymetallic acquisitions with Niblack synergies

considered

• Updated IP geophysical and soil geochem program

• 5,000m drilling; targets include

• Lookout Zone down-dip: 1.5m 2.0% Cu, 23% Zn, 3.3 g/t Au, 90 g/t Ag

• Dama Zone step-out: 19.2m 6.4% Cu, 3.2% Zn, 1.4 g/t Au, 53 g/t Ag

• Down plunge from historic Niblack mine

• Undrilled Prospects on east and west side of trend

Heatherdale Next Steps…

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CURRENT RESOURCE

• 2011 SRK NI 43-101 Estimate; subsequent step-out drilling in 2012 at

Trio Zone not included

• High Grade Zone of 1.2 Mt 1.7% Cu 3.2 g/t Au 3.8% Zn 62.6 g/t Ag

• NSR Model constructed to maximize tonnes; smoothed out grade

• Resource update planned for 2020

Niblack Tonnes Cu (%)Au

(g/t)Ag

(g/t) Zn (%)Cu

(Mlb) Au (oz) Ag (oz)Zn

(Mlb)IndicatedLookout 5,638,000 0.95 1.75 29.52 1.73 118.1 317,220 5,351,052 215.0Total 5,638,000 0.95 1.75 29.52 1.73 118.1 317,220 5,351,052 215.0InferredLookout 2,370,000 0.73 1.42 21.63 1.17 38.1 108,202 1,648,172 61.1Trio 1,023,000 1.00 1.11 16.56 1.56 22.6 36,509 544,670 35.2Total 3,393,000 0.81 1.33 20.10 1.29 60.7 144,710 2,192,842 96.3

* Includes higher grade resource

1. November 2011 estimates by Deon Van Der Heever, Pr. Sci. Nat., Hunter Dickinson Inc., a Qualified Person who is not independent of the Company.

2. Net Smelter Return (NSR) cutoff uses long-term metal forecasts: gold US$1,150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu

concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors

of 85% for Zn, 80% for Au and 20% for Ag. Detailed engineering studies will determine the best cutoff.

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High Grade Resource

A REGIONAL FAVORABLE HORIZON

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Significant drill-ready resource expansion & focused exploration targets:

Dama, Lindsy, Mammoth and the former Niblack Mine Zones

+ Multiple additional deposit targets indicated along unexplored 5km

trend of favourable host rocks

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RESOURCE EXPANSION POTENTIAL:

Downdip at Trio and Lookout Zones

Exploration has

consistently added

tonnage to resources at

Niblack.

• Extend drift by 100 - 150m

• Drill down-dip to extend dip

length by 50%

• Additional metallurgical or

infill holes

• 5,000 meters of

underground and skid

mounted surface drilling

• New structural interpretation

suggests shallowing of dip

to the west

UNDERGROUND EXPLORATION:

Lookout Zone

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Focused, modern exploration targeting 5km strike extension of host horizon

EXPLORATION:

IP Geophysics and Soil Sampling

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EXPLORATION:

Dama Copper Zone

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1. Accessible Deep Water at Niblack Anchorage 2. Gravina Island Industrial Complex

3. Dock & Barge Camp 5. Underground Development4. Supply Barge

SITE INFRASTRUCTURE

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• Historic mining operations

• Existing underground development (1,100 m of

4.3m x 5.3m)

• Resource has good internal continuity

• Ideal setting for bulk mining methods (i.e. longhole

stoping)

Average width: 15m

Maximum width: 100 m

Average dip: 52o

• Initial metallurgical tests indicates high quality

clean Cu & Zn concentrates, high precious metals

content

• Competent ground in existing underground ramp

• Low initial Capex requirement

IDEAL PROJECT CONDITIONS

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*AIDEA – Alaska Industrial Development and Export Authority

Detailed evaluation of several potential off-site mill sites conducted. Gravina Island is

currently the leading option and presents clear technical and financial advantages.

Key Benefits:

• Existing, low cost power

• On tidewater with deep draft port

• Accessibility to local workforce

• Heatherdale and Ketchikan Gateway

Borough reached an MOU in 2012

for investigating the site

• Previous disturbance

(‘brownfield’)

• Pre-Authorized for

US$125M low

interest loan to

develop the Niblack

Project through

AIDEA*

Preferred Mill Site

Potential Mill Site

Existing Road

GRAVINA ISLAND

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• Management has strong track record

community & indigenous engagement,

advanced project permitting

• Prince of Wales Island, Metlakatla and

Ketchikan consultation by previous

operators; new outreach to be initiated

• Share ownership by Native Groups

should be considered

• Existing liabilities at Niblack; bonding &

water treatment in place

• Land tenure includes Federal Patent,

Federal and State of Alaska Mineral

claims

ENVIRONMENT, PERMITTING, COMMUNITY

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• High-grade, advanced Cu-Au-Zn-

Ag deposit; $12 million market cap

• New Management team and vision

• Four targets to be drilled in 2020

• 5 km long, underexplored trend of

multiple deposits & prospects i.e.

19.2m of 6% Cu, 1.4 g/t Au

• ESG considerations highest

priority

• Additional Corporate Development

Activities to be considered

HEATHERDALE VALUE PROPOSITION

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TRADING SYMBOL: TSX.V:HTR

Contact Us:

Rob McLeod, P.Geo – Director & CEOPhone: (604) 617-0616E-mail: rm@bwcg.ca

Corporate Office:

Suite 1800 - 555 Burrard, PO Box 220 Vancouver, BC V7X 1M9Phone: 604-343-2997

www.heatherdaleresources.com

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