FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources

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FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
Nunavut

                               FERGUSON LAKE PROJECT
      Canada

                         High-grade Base Metals and Platinum Group Metals
                                  World-class Resource Potential

                                                                 Febr

                                               Airstrip – Camp

                    Platinum                                     Nickel

Palladium                            Rhodium            Copper              Cobalt

INVESTOR PRESENTATION                          CNResources.com                       June 2021
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
NOTE TO READER

 This Investor Presentation contains certain information that may constitute "forward-looking information" under
 applicable Canadian securities legislation about Canadian North Resources Inc. (“CNR”). Forward-looking
 information includes, but not limited to, statements about strategic plans, including future operations, future work
 programs, capital expenditures, discovery and production of minerals, price of metals, timing of geological reports
 and corporate and technical objectives. Forward-looking information is necessarily based upon a number of
 assumptions that, while considered reasonable at the date hereof, are subject to unknown risks, uncertainties, and
 other factors which may cause the actual results and future events to differ materially from those expressed or
 implied by such forward-looking information, including but not limited to, the risks inherent to the mining industry,
 adverse economic and market developments. There can be no assurance that such information will prove to be
 accurate, as actual results and future events could differ materially from those anticipated. Accordingly, readers
 should not place undue reliance on forward-looking information. All forward-looking information contained in this
 Investor Presentation is given as of the date hereof and is based upon the opinions and estimates of management
 and information available to management as at the date hereof.
 CNR disclaims any intention or obligation to update or revise any forward-looking information, whether as a result
 of new information, future events or otherwise, except as required by law. This Investor Presentation has been
 completed by CNR. Any forward-looking statement speaks only as of the date on which it is made and, except as
 may be required by applicable securities laws. Although CNR believes that the assumptions inherent in the
 forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance
 and its related costs and accordingly, undue reliance should not be put on such statements due to the inherent
 uncertainty therein.
 The scientific and technical information contained in this Investor Presentation has been reviewed by
 Trevor Boyd, Ph. D., P. Geo, an independent consultant and a Qualified Person as defined in the National
 Instrument 43-101 for the Standards of Disclosure for Mineral Projects within Canada.

INVESTOR PRESENTATION                                CNResources.com                                                     2
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
WHY CANADIAN NORTH RESOURCES
     Strategic Metals for the Clean-energy and High-tech Industries

ASSET                                                       GROWTH                                           FERGUSON LAKE PROJECT*
                                                                                                              Indicated and Inferred Resources
      Large palladium, platinum,                                High-potential PGM and
       rhodium (PGM) plus                                         Cu-Ni-Co resource growth                                  Palladium
       copper, nickel, and cobalt                                 and discoveries over                          787,000 oz              indicated
       (Base Metal) project.                                      >15 km of target zones                       1,146,000 oz             inferred

      100% ownership of                                          along mineralized horizon.                                Platinum
       contiguous 96.9km2                                        Moving on to pre-                             127,000 oz             Indicated
       mining leases.                                             feasibility development.                      185,000 oz              Inferred
      C$140+ million spent in
                                                                                                                             Copper
       exploration and metallur-
       gical tests.                                         FINANCE                                               345 Mlb
                                                                                                                  665 Mlb
                                                                                                                                       Indicated
                                                                                                                                        Inferred
                                                                 Strong shareholder
                                                                  support.                                                    Nickel
TEAM                                                                                                              226 Mlb              Indicated

      Experienced, seasoned,                                    Well funded.                                    446 Mlb               Inferred

       and dedicated.                                                                                                         Cobalt
                                                                                                                  27 Mlb               Indicated
 *  These are historical estimates provided for information only, originally from Starfield Resources Inc.        33 Mlb                Inferred
 Nov. 2011, Technical Report filed on SEDAR but now outdated, no longer valid and not to be relied upon
 as being 43-101 compliant. A significant re-evaluation at today’s gold prices and economic conditions
 would have to be completed to upgrade this historic estimate as current mineral resources.

INVESTOR PRESENTATION                                                          CNResources.com                                                      3
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
FERGUSON LAKE - HIGH VALUE ASSETS
   Economic Base Metal and Strong PGM Upside

OPEN PIT/HIGH-GRADE METAL RESOURCE*                                                          STRONG PGM UPSIDE
                                                                                    Resources* modeled at only Cu+Ni+Co
West Zone - Open Pit - 1.1 Mt at:       West - Underground - 14.7 Mt at:            NSR cutoffs: C$75 (open pit); C$110
   Palladium            1.54 g/t            Palladium            1.88 g/t           (underground) and at 2011 metal prices .
   Platinum             0.22 g/t            Platinum             0.31 g/t            Potential to add significant PGM resources
    Copper               0.97 %                Copper                1.23 %
                                                                                      using a PGM-included cutoff grade.
    Nickel               0.63 %                Nickel                0.71 %
    Cobalt               0.06 %                Cobalt                0.08 %          Mineral deposit modeled for massive
                                                                                     sulfides (>50 %); but significant PGM
                                   Intercept            Rh     Pd             Pt     are hosted in low-sulfide (3-25%) zones.
Rhodium Potential                                       g/t    g/t            g/t
                                       m
                                                                                      Potential for significant PGM resources by
   FL02-132                          0.10           2.58       3.69       0.01
                                                                                       exploiting the zones with low sulfide
   FL02-101 W1                       0.14           1.11       5.37       2.39
                                                                                       content.
   FL02-101 W5                       0.16           0.71      42.58       5.62

   FL04-195                          1.25           0.46      1.59        0.01       RPA* had No PGM Production, Mill Feed
   FL05-230                          1.50           0.40      0.62        0.05       Output or Recovery Included.

               RPA ‘s Preliminary Economic Assessment (2011)*                         Recent tests by Canadian North Resources
                                                                                       indicate high recovery of PGMs.
  Pre-tax NPV at 10% discount                       US $692 mm
  Pre-tax NPV at 15% discount                       US $123 mm                      * Source from Technical Report by Rosco and Postle Associates
                                                                                    Inc. (RPA) filed by Starfield Resources on SEDAR (2011).

INVESTOR PRESENTATION                                         CNResources.com                                                                  4
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
PGM AND COBALT MARKETS
   Strong PGM Trends and Cobalt Market Dynamics

                                                                         Charts1              2018 2019          2020      2021
   Palladium, platinum, rhodium, and cobalt
                                                                         Spot Price*                  Palladium                 USD/oz
   are used increasingly in the clean-energy                              $2,367.85
                                                                                                                                2750
                                                                                                                                2500
                                                                                                                                2250

                                                                         Forecasts
   and high-tech sectors, worldwide.
                                                                                                                                2000
                                                                                                                                1750
                                                                                                                                1500
                                                                          (USD/oz)                                              1250

                                                                          $2,900 (2021)2                                        1000
                                                                                                                                750
                                                                                                                                500

         Automotive demand with usage growth and Pd shortfalls.
                                                                                                                                USD/oz
         Anticipated upward trajectory in demand and price.             Spot Price*
                                                                                                      Platinum                  1100
                                                                           $1,251.06                                            1000

                                                                         Forecasts                                              900

                                                                                                                                800
                                                                          (USD/oz)
         Automotive as the largest Pt segment is positive.                                                                     700
                                                                          $1,250 (2021)2                                        600

         Rarity, distinctive qualities, and unique properties.
                                                                                                                                USD/oz
                                                                         Spot Price*
                                                                                                       Rhodium                  20000

                                                                          $22,300.00                                            17500
                                                                                                                                15000
         Leading emission-cutting Rh usage driven by regulations.       Forecasts                                              12500
                                                                                                                                10000
                                                                          (USD/oz)                                              7500

         For glass, chemical, alloys, medical, and aircraft sectors.     $19,075 (2021)3
                                                                                                                                5000
                                                                                                                                2500

         Rarest of the PGMs and one of the rarest metals on Earth.                                                             USD/T

                                                                         Spot Price*                    Cobalt                  90000

         Prices in 2021 hit record of $22,300/oz, surpassing 2008.                                                             80000
                                                                          $47,000.00                                            70000

                                                                         Forecasts                                              60000

         Strategic in commercial and industrial uses.                    (USD/T)
                                                                                                                                50000

                                                                                                                                40000
                                                                          $39,700 (2021)4
          Geopolitics driving ethically-mining outside of the Congo.
                                                                                                                                30000
      

                                                                        Notes: 1 – TradingEconomics.com, 2 - UBS, 3 – Investing.com,
                                                                        4 – Investing.com, and * Feb. 17, 2021 – TradingEconomics.com

INVESTOR PRESENTATION                              CNResources.com                                                                       5
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
COPPER AND NICKEL TARGET MARKETS
     Copper and Nickel Market Foundations and Future
                                                                                                           2018   2019   2020   2021

               Copper is used in automotive, building,
                                                                                                                                   USD/lb
                                                                                      Charts1                                          3.500
                                                                                                                  Copper               3.250

               electric vehicles (EV), energy storage                                 Spot Price*                                      3.000
                                                                                                                                       2.750
                                                                                       $3.83
               (ES), electrical, electronics, machinery,                              Forecasts (USD/lb)
                                                                                                                                       2.500
                                                                                                                                       2.250

               transport, and many other uses.                                         $4.50 (2021)2
                                                                                                                                   2.000

                                                                                                                                   USD/T
        Global metal market for copper is the largest,                                                      Nickel                18000

         behind iron and aluminum.
                                                                                                                                   17000

                                                                                      Spot Price*                                  16000
                                                                                                                                   15000

                                                                                       $18,772                                     14000

        4-times the copper in EVs as compared to                                     Forecasts (USD/T)
                                                                                                                                   13000
                                                                                                                                   12000

         gasoline vehicles.                                                            $17,000 (2021)3
                                                                                                                                   11000
                                                                                                                                   10000

        Lack of new significant discoveries, and
         very low investment in exploration.                                     Nickel is used in stainless steel,
                                                                                 alloys, plating, foundry, EV batteries,
        Goldman Sachs raised their 12-month
         forecast to $4.50 lb, up from $3.40 lb.
                                                                                 energy storage, and in chemicals.
                                                                             Demand for infrastructure and construction.
  China’s demand for most metals has had a
  major impact on copper prices.                                             High demand for EVs and energy storage (ES).

  Clean tech sectors seen to easily boost global                         Sustained market from China (>50% global annual
  copper demand by 10% - 15% by 2030.                                    demand) and other developing regions.

Notes: 1 – TradingEconomics.com, 2 – Goldman Sachs and CitiGroup,
                                                                         By 2040, demand for nickel in EVs and ES is
3 – Investing.com, and * Feb. 17, 2021 – TradingEconomics.com            predicted to be 31% of global market (4% in 2018).

INVESTOR PRESENTATION                                               CNResources.com                                                            6
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
NUNAVUT KIVALLIQ REGION
– EMERGING MAJOR MINING DISTRICT
   With the Development of the Meadowbank and Meliadine Au Mines
               Nunavut
                                  FERGUSON LAKE PROJECT
                              N                                                   Arcelor Mittal
                                                                                  Mary River
  Canada
                                                                                                             96.9 km2 Mining Leases
                                                                                              Roche Bay
                                                Agnico Eagle
                                                  Hope Bay                    K2 Gold                                   De Beers
                              MMG Limited
                              Izok Corridor                                   Fraser Bay                                Chidliak
 Nunavut Territory Advanced
                              Project         Glencore Hackett River
    Exploration Projects
          & Mines             Ekati            Sabina Black River
       Commodity              Diavik          Agnico Eagle Amruq       Agnico Eagle Meadowbank
           Base Metals        SnapLake         Aberdeen Lake                                                 Glencore
                                                                    Orano Group Kiggavik                      Raglan
           Diamonds
           Gold                                                                Agnico Eagle Meliadine
                                                                   CNRI                                   Jien Canada Nuvavik
           Iron                                      ValOre
                                                     Angilak
                                                                Ferguson         Ferguson
           Uranium                                              Lake
                                                                                 Lake Project

  Significant mining and development projects in Nunavut and areas in the North.

INVESTOR PRESENTATION                                           CNResources.com                                                       7
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
COMPANY INFRASTRUCTURE
    Provides an All-season Productive Working Environment

                                                                        All-season 55-person field       Equipment garages, work
                                                                        camp for housing, board          shops, parts, and storage
All-year 825 x 30 metre gravel airstrip, south-west of the Field Camp   services, offices, and amenities

                                                                           Caterpillar Dozer, Grader, Skid-   Snowmobiles, pick-up
                                              Satellite Network            Steer, Front Loaders, Excavator,   trucks and Bombardier
                                                                           Articulating, and Haul Trucks      Snow Cat
 Office and
 work areas

                                                                                   Portable Slag
  Dining and                                                                  Ball Rock Crusher
    common                                    Extensive core storage
       areas

INVESTOR PRESENTATION                                        CNResources.com                                                         8
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
FURGUSON LAKE HISTORY
  Extensive Exploration, Infrastructure, and Resource Potential

   Over C$140 million has been spent on ground with 191,000 metres in
   623 holes completed.

   1950’S – INCO INC. (SUBSIDIARY )                         2013 – TODAY
                                                            CANADIAN NORTH RESOURCES INC.
       $3 million in exploration
         30,000m drilling,173 holes                            $millions in expenditures
         East, West, and Central Zones                            Regional reconnaissance prospecting
                                                                   Examined surface mineralized zones
    1999 TO 2012 – STARFIELD RESOURCES INC.                        Rock chip and till sampling
       $136 million in expenditures                               Ground geophysics
           158,528m drilling                                      Metallurgical tests
                                                                   Assay of rock chip, till, and selected
           All-season 55-person Field Camp
                                                                    core samples
           All-year airstrip (DHC-5 Buffalo level)
                                                                   Data verification and re-evaluation
           Geochemical, geological, and ground
                                                                   NI43-101 technical report
            and airborne geophysical surveys
                                                                   Camp maintenance
           Extensive metallurgical work

INVESTOR PRESENTATION                          CNResources.com                                         9
FERGUSON LAKE PROJECT - High-grade Base Metals and Platinum Group Metals World-class Resource Potential - Canadian North Resources
MINERAL RESOURCES
   Historic Resources and Vast Exploration Potential

   BASE METAL (NICKEL, COPPER, AND COBALT ) AND
   PGM (P LATINUM AND PALLADIUM) RESOURCES                                                                                   West Zone Models
    INDICATED RESOURCES*
    ZONE                        Tonnes          Cu          Ni        Co         Pd         Pt         Fe         S       Underground (UG)
                                                                                                                                                     Main
                                    Mt          %          %          %         g/t        g/t         %         %                                  West Pit
    Main West Pit                  1.1       0.97       0.63       0.07       1.54       0.22      36.34 19.95
    Main West UG                  14.7       0.99       0.65       0.08       1.55       0.25      36.16 20.97
                                                                                                                            West Zone 3D View of Wire Frames,
    Total Indicated               15.8       0.99       0.65       0.07       1.55       0.25      38.04 20.90
                                                                                                                              Drill Holes & Block Model Outline
     INFERRED RESOURCES*
    ZONE                        Tonnes          Cu         Ni        Co         Pd         Pt         Fe          S
                                    Mt          %          %          %         g/t        g/t         %         %
    Main West Pit                  0.2       0.90       0.57       0.07       1.40       0.17      33.96 18.40
    Main West UG                   5.9       0.82       0.59       0.07       1.34       0.20      36.15 19.59
    West Zone Ext.                14.7       1.23       0.71       0.08       1.88       0.31      41.63 23.14
    East Zone                      9.4       0.76       0.65       NE         NE         NE        38.41 21.16

    Total Inferred              30.2         1.00       0.67       0.05       1.18       0.19      39.49 21.79             West Zone Plan View of Palladium
    *Starfield Resources Inc. – Ferguson Lake, November 30, 2011.                      These are historical estimates
                                                                                                                          (Pd) Blocks Within the Block Model
    provided for information only, originally filed on SEDAR but are now outdated, no longer valid and not to be relied
    upon as being 43-101 compliant. Preliminary Economic Assessment of Ferguson Lake Project, Nunavut,
    Canada, by RPA (Roscoe Postle Associates Inc.). A significant re-evaluation at today’s metal prices and
    economic conditions would have to be completed to upgrade this historic estimate as current mineral resources.

INVESTOR PRESENTATION                                                                 CNResources.com                                                          10
TARGET MINERALIZATION ZONES
    Extensive Mineralization Zones, Extensions, and Trends

   Magmatic Cu-Ni-Co sulfide ores with high-grade PGM.
   Ten (10+) sulfide zones drill tested and numerous mineralized sites discovered.
   Three (3) massive sulfide zones drilled for resources estimates, as intervals (West Zone):
     Hole FL01-84: 46.9m @1.10 %-Cu, 0.64 %-Ni, 0.07 %-Co and 1.60 g/t Pd, 0.29 g/t Pt
     Hole FL05-237: 103.7m @ 1.29 %-Cu, 0.73 %-Ni, 0.08 %-Co and 1.94 g/t Pd, 0.38 g/t Pt
     Hole FL06-261: 75.9m @0.93 %-Cu, 0.49 %- Ni, 0.06 %-Co and 1.21 g/t Pd, 0.28 g/t Pt

                                                                                       East Zone II

                          West Zone     West Zone                        East Zone I
                          Extension      Pit Area                                                      “M” Zone
            119 Zone                                           Central
                                                                Zone
                            West Zone                                                                 Anomaly 51
      South                  South
    Discovery
      Zone                                                               >15 km Long Mineralized Zone
                                                                           (Resource estimates on < 6 km)

INVESTOR PRESENTATION                               CNResources.com                                               11
RESOURCE EXPANSION POTENTIAL
   World-class Copper, Nickel, and PGM Potential Over the Area

      Expand PGM resource potential – by re-modelling                 Central Zone
       palladium and platinum using a PGM grade cutoff.
                                                                    10 drill holes with
      Low-sulfide PGM enriched zones – will add to                significant intercepts
       the PGM resource and will be included in the
       resource re-estimation.                                         2% Ni-Cu and
                                                                       1.51 g/t PGM
      Copper-nickel-cobalt-PGM – massive (>50%) sulfide             (over 17.4 metres)
       zones are open at depth and along the strike.
      Significant intersections – of massive sulfides in
       10 holes along the Central Zone will add resources.
      Thick disseminated – sulfide copper, nickel, cobalt,
       and PGM zones will add significant resources.
      Seven (7+) mineralization zones – to be drilled for
       Cu-Ni-Co-PGM resource definition.
      New discoveries – from surface sampling.                  Massive sulfides
                                                                 Looking west on West Zone

INVESTOR PRESENTATION                       CNResources.com                                 12
MASSIVE SULFIDES WITH ULTRA-MAFIC INTRUSIONS
   High-grade Potential Across Main Mineralized Horizon

  Base Metals (Cu-Ni-Co) and PGM (Pd-Pt-Rh)                                                                        N
  Target Zones on TEM anomalies

                                                                                               Meters
                                                                                           O        2000   4000
 Outcrop of ultramafic intrusion

          Meters                                                    N
      O            200   400

      Ultramafic intrusions with massive sulfides
                                                                        Outcrop of massive sulfide ore bodies
      Projected massive sulfides with mafic–ultramafic intrusions

INVESTOR PRESENTATION                          CNResources.com                                                    13
HIGH POTENTIAL WITH ULTRAMAFIC INTRUSIONS
     Potential for More High-grade Massive Sulfides Ore Bodies

        Significant potential – for more high-grade Base Metal (copper, nickel,
         cobalt) and PGM mineralization with mafic to ultramafic intrusions.
        Previous exploration – focused on massive sulfide lenses in upper
         gabbros, not on the footwall structures.
        Geochemical study – indicates massive sulfides are related to higher
         Mg contents in ultramafic rocks at footwall.

 N
                               Ultramafic Intrusions

                                                                                     Cu (%) + Ni (%) x Core Length
                                                                                         Composite Contours

                                                                Open

                                          Open                 Meters
                                                           O            500   1000

 West Zone – Longitudinal Section showing high-grade mineralization open along the strike and at depth.

INVESTOR PRESENTATION                            CNResources.com                                                     14
LARGE AND HIGH-GRADE PGM SYSTEM
   Potential for High-value PGM Orebodies

    High-grade PGM values in                      Drillhole     Significant    Pd       Pt     Cu     Ni     Co
                                                      No.        Intercepts
     low-sulfide zones, up to 103g/t                                             g/t     g/t    %      %       %

     palladium and 43.36g/t platinum.              FL00-41            71.31 m   0.90    0.15    0.66   0.38   0.05
    Rhodium (up to 2.5g/t) and gold               FL00-66            21.38 m   1.55    0.29    0.64   0.62   0.073
     assays in historic exploration.                                  1.43 m    25.76   6.62    0.64   0.15   0.021
                                                   FL01-101
                                                                      0.35 m     103    28.71    --     --      --
    Very thick (up to 71.3m) PGM
                                                   FL01-74            64.45 m   1.40    0.24    0.96   0.53   0.064
     mineralization zones associated with
     stringer/disseminated sulfides.               FL02-109           0.21 m    56.79   5.99    0.02   0.01   0.002

                                                   FL02-135           10.2 m    3.48    2.32    0.01   0.03   0.004
    Occurs in footwall structures of the
                                                                      3.3 m     12.16   8.10    0.08    0.2   0.03
     northeast-dipping gabbro units.               FL03-157
                                                                      15.5 m    3.82    3.1     0.02   0.06   0.02

    Gabbro units host low-sulphide PGM            FL04-181            4.5 m    5.16    2.85    0.02   0.02   0.004

     targets in 10 Zones (West, East,              FL04-195            3m       12.69   1.48    0.02   0.02   0.003
     Central, M- Zones, etc.).                     FL06-285           1.25 m    21.91   9.71    0.20   0.31    --

    Continuity over an east-west strike           FL04-189           1.23 m    2.02    29.09   0.09   0.10   0.015

     length of main mineralized horizon            FL04-165
                                                                      1.00 m    32.23   8.54    0.16   0.18   0.03
                                                                       0.9 m    2.41    43.36   0.10   0.15   0.22
     more than 15km.
                                                    -- Not analyzed

INVESTOR PRESENTATION                       CNResources.com                                                           15
UNTAPPED PGM POTENTIAL
   Potential for World-class PGM Discoveries

  PGM found from surface to a depth >1,200 m
  at West Extension Zone. PGM associated
  with:
       Massive sulphides (>50%) – resource
        estimate based on Cu-Ni-Co NSR only.
       Host stringer or disseminated sulfides
                                                                 Massive sulfides outcrop
        (
METALLURGICAL RECOVERY
    High Recoveries to Support Mine Development

           Previous metallurgical tests were completed on massive sulfide ores only.
           PGM recoveries were not included in the Preliminary Economic Assessment
            prepared by RPA (2011) 1.
           Recent tests by Canadian North Resources indicate high recovery of PGMs.
           Comprehensive studies support potential processes with economic recoveries,
            stable tailings, and energy-efficient recoveries for remote operations.
                           Historical*            Recent: Canadian North Resources Inc.
                       Hydrometallurgical          Hydrometallurgical             Flotation plus
                          Processes 2                 Processes 3                     Platsol
                        (Starfield 2012)              (CNR 2013)                   (CNR 2016)
 Copper                        97 %                         99 %                        99 %
 Nickel                        94 %                         94 %                        87 %
 Cobalt                        89 %                         91 %                        90 %

 Palladium                       NA                         77 %                      90-95 %
 Platinum                        NA                         50 %                      90-95 %
                                                                                                          Massive sulfide ore at
Note: 1: Roscoe Postle Associates Inc. *All tests completed by SGS. 2: Historical, Hydrometallurgical
process for nickel, copper, and cobalt. 3: Recent, Hydrometallurgical Methods plus final PGM-base metal   surface of the West Zone
element extraction from residue using Platsol process. NA – not available.

INVESTOR PRESENTATION                                                CNResources.com                                                 17
PGM EXPLORERS TO PRODUCERS
    Comparables Base Metal and PGM Mining Companies

 Mining Explorer/                Market                              Mining                     Resource
                     1,2                     Metals      Other                    Property                                     Base Metals       PGM             Base Metals            PGM
 Developer/ Producer              Cap                                Stage                     Estimates 3
                                 Millions,                                                                                Cu       Ni     Co      Pd     Pt     Cu    Ni    Co    Pd           Pt
                                         4    PGMs                                Location       Reported        Mt
                                 CAD $                                                                                    %        %      %       g/t    g/t    kt    kt    kt    koz         koz

 Canadian North                                                        Pre-                     Indicated       15.8     0.99     0.65   0.07    1.55   0.25    156   103 12     787          127
                       Private               Pt-Pd-Rh Cu-Ni-Co                    Canada
 Resources Inc. *                                                  development                   Inferred       30.2     1.00     0.67   0.05    1.18   0.19    301   202 15     1,146        185

 Clean Air
                      TSXV:AIR    49.3         Pt-Pl    Cu-Ni-Co    Exploration    Canada         Historic       8.46    0.25     0.18   0.014   0.98   1.04    --    --    --   267          283
 Metals
 Palladium One
                      TSXV:PDM    66.8        Pt-Pd      Cu-Ni      Exploration   Findland       Indicated      10.985   0.15     0.09    --     0.81   0.27    --    --    --    --          --
 Mining Inc.
 Generation Mining
                      TSX:GENM   136.3        Pt-Pd       Cu       Development     Canada         Proven        76.46    0.268     --     --     0.91   0.254   205   --    --   2237         625
 Limited
 Canadian Nickel                                                       Pre-                    Measured +
                      TSXV:CNC   287.5        Pt-Pd      Ni-Co                     Canada                       281.3     --      0.31   0.013   0.028 0.012    --    878   37   253          109
 Company                                                           Development                  Indicated
 Platinum Group       TSX:PTM,                                                     South       Measured +
                                 336.9        Pt-Pd      Cu-Ni      Production                                  242.4    0.098 0.181      --     2.13   2.11    --    --    --    --          --
 Metals Ltd.          NYSE:PLG                                                     Africa       Indicated
 Chalice Gold Mines
                      ASX:CHN    2,389       Pt-Pd-Rh   Au-Cu-Ni    Exploration   Austrialia   Not Availaible    --       --       --     --      --     --     --    --    --    --          --
 Limited
 Impala Platinum                                                                                 Mineral
                      JSE:IMP    17,227       Pt-Pd       --        Production     Global                       1,819     --       --     --      --     --     --    --    --   90,000   123,000
 Holdings Limited                                                                               Resources

 Notes: * For Canadian North Resources Inc. - Historical estimates provided for information only, originally as Indicated and Inferred sources in Starfield
 Resources Inc. Nov. 2011, Technical Report on SEDAR but now outdated, no longer valid and not to be relied upon as being 43-101 compliant. 1. Data
 collected December 2020. 2. ASX = Australia Stock Exchange, CSE = Canadian Stock Exchange, JSE = Johannesburg Stock Exchange, NYSE = New York
 Stock Exchange, TSX = Toronto Stock Exchange, and TSX-V = TSX Venture Exchange. 3. Resource estimates for comparable mining exploration,
 development, and production companies from the company presentations and technical reports in the public domain. 4. Market data on June 25, 2021.

INVESTOR PRESENTATION                                                               CNResources.com                                                                                            18
CAPITAL STRUCTURE
     Excellent for Public investors and Growth

 Issued Shares                                                                             Warrants
 Preferred Shares:                 80,495,661                                              Warrants:**                 7,207,727
 Common Shares:                     9,093,490                                              Options:                      771,698
 Free Trading Shares:               2,618,177                                               Fully Diluted:          97,568,576
 Outstanding Shares:               89,589,151

 Common Shares                    9,083,490                   Preferred Shares                                 80,495,661
 •    2,618,177 free trading common                           •   14,215,453 issued for the Private Placement.*
      shares including 1,818,698 issued
      under the Offering Memorandum**                         •   66,280,208 issued for the original shareholders and
      and 799,479 issued to the original                          investors.
      investors.
                                                              •   Convertible to Common Shares at 1:1 ratio with certain
 •    6,475,313 escrowed common shares.                           conditions after the escrowed period.

 *Private Placement raised $10.6 million as of April 30, 2021. **Warrants were issued in connection with the Private Placement. Offering
 Memorandum raised $2,223,698 and closed on April 29, 2021.

INVESTOR PRESENTATION                                        CNResources.com                                                         19
CORPORATE TEAM
   Experienced, Seasoned, and Dedicated to Build Asset Value

  Lee Q. Shim                          Chairman and Director        Dr. Kaihui Yang, PhD           CEO, President, and Director
   Global entrepreneur, founder, investor, and business executive   Exploration geologist with 30 years experience as: a senior
   for over 35 years, Mr. Shim is the founder and Chairman of       consultant for Barrick, Inco, Falconbridge, etc., and the World
   Lee Li Holdings with diverse companies operating in Canada,      Bank Group; and a consultant and director for major Chinese
   US, China, and South East Asia. His portfolio also includes      and Canadian mining and investment companies.
   investment in a Canadian mining company and has been a
   director and shareholder in a number of notable capital funds.   Dr. Yang was an EVP for Zijin Mining Group (CAD$40B, market
                                                                    cap), a Chairman of Sprott-Zijin Joint-Venture Mining Fund,
                                                                    and a founder, director, and president of Canadian public
  Mike Weeks                                           Director     companies and ventures.
   Over 25 years in the power generation and resource
   industries. Mike was a founder, president and CEO, and           Carmelo Marrelli, CA                                       CFO
   is presently the executive chairman of Angkor Gold. He has        Financial, accounting, and disclosure expert. A director and in
   an engineering background and holds a First Class Power           senior roles with private and publicly-listed companies. He is a
   Engineering Certificate.                                          Chartered Professional Accountant with 30 years of experience.

  Rick Brown                                           Director     Dr. Xian Jian Guo, PhD                     Technical Advisor
   Manages the China desk of Sprott Capital Partners’               Professional Metallurgy Engineer with over 35 years
   for investors in the resource sectors.     With N.Y. banks,      experience in process development, plant operation,
   he completed financings, M&As, and divestitures in the           optimization, engineering and he has successfully managed
   Americas and Europe. Mr. Brown has more than 30 years in the     a number of large international mining/mineral projects with
   financial capital markets.  He holds a Bachelor’s Degree         multi-billion-dollar capital investments.
   in Economics and a Master’s Degree in Finance.
                                                                    Has held senior roles globally, as: Chief Engineer of Zijin
                                                                    Mining Group; a VP of Ramu NiCo Management Ltd. in Papua
  Ms. Aier Wang                                        Director     New Guinea; and a Technical Director of Hatch Ltd.
   Over 20 years business success as an: investment manager in
   financial, health, and real estate, and wood product
                                                                    Stephen du Toit                                       Advisor
   businesses; and currently Executive Director of its              Over 30 years worldwide operations experience with large
   conglomerate group. Ms. Wang holds an Executive Master's         companies. Stephen is presently the EVP and COO of
   Degree in business administration.                               Coca-Cola Canada. He is a Charted Management Accountant
                                                                    (CIMA) and a Fellow of the Procurement Institute of Europe.

INVESTOR PRESENTATION                                       CNResources.com                                                      20
TIMELINES AND WORK PLAN
   Focus on Growth in PGM Resources and Mine Development

                               Accomplishments to Date
                                 Private placement financing for Phase 1 Exploration.
                                 Completed NI43-101 Technical Report.

          2021/22
            Follow-up funding for Phase 2 exploration programs
            Phase 1&2 exploration programs including:
               Re-model and re-estimate resource to include PGM in the cutoff grades
                 for inferred and indicated potential.
               Expand metallurgical tests with current and alternative processing
                 technologies for target PGM and Base Metals.
               Drilling for high-grade nickel-copper massive sulfides with the ultramafic
                 intrusions and high-grade PGM mineralized zones.
               Establish high-grade resources for PGM in low sulfide zones with
                 definition drilling along the known mineral zones.
               Environmental / engineering studies and community engagement.

INVESTOR PRESENTATION                    CNResources.com                                 21
Thank you

           299 Courtneypark Drive East           905-696-8288 (Canada)
          Mississauga, Ontario L5T 2T6
                                                 1-888-688-8809 (Toll Free)
                        CNResources.com          investor@CNResources.com

                                                            CANADIAN NORTH
                                                            RESOURCES INC.
                                                            WEBSITE - INVESTORS

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INVESTOR PRESENTATION                     CNResources.com                         22
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