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Donner Metals and Xstrata Zinc :

From the discovery of Bracemac-McLeod in 2007

to the production in 2013

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CAUTIONARY STATEMENT Certain statements of this presentation contain forward looking information and future oriented financial information. The reader is cautioned that assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. The actual results may vary materially from the information provided herein. Consequently, there is no representation that actual results achieved will be the same as those forecast. A full Cautionary Statement is available at www.donnermetals.com

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› Donner Metals

› Bracemac-McLeod

› Joint venture exploration

› Strategy for the future

Presentation

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Management and Directors

David Patterson (Chairman, Director) • 20 years of experience with exploration stage mining

companies

Harvey Keats (CEO, Director)

• 25 years with senior positions at Falconbridge Ltd. • Former VP Exploration of Diamond Fields Resources,

where he was responsible for the exploration program at Voisey’s Bay

Normand Champigny (President)

• 31 years of experience in Québec and other jurisdictions • Chair of the Board of Directors of Minalliance and an

Executive Committee Member of the PDAC.

Robin Adair (VP Exploration)

• 25 years career with Falconbridge/Noranda, Exploration Manager – North America for zinc/copper

• He received his B.Sc. and M.Sc. in geology from the University of Alberta

Ron Tessier (VP Engineering)

• Over 40 years of experience in the mining industry, including in the Matagami Camp

• He managed the feasibility study at Perseverance Mine and oversaw its $160M construction by Xstrata

Kerry Sparkes (Director)

• 25 years of experience in exploration • Vice-President of Exploration for Rainy River Resources

Ken Thorsen (Director)

• Over 35 years of experience in the exploration business including President of Teck Exploration Ltd.

• Spent 21 years General Manager of Advanced Projects with Teck-Cominco

Laurie Sadler (Director)

• Founder and managing partner of Sadler, Weismiller, Spencer, Chartered Accountants (1984-2001)

• He holds an MBA from the University of Western Ontario

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Shares Outstanding: 249,655,993 Fully Diluted: 274,711,948 52 Week Hi-Lo: $0.125 - $0.27 Market Capitalization: ~$40M

Toronto Venture Exchange: DON Frankfurt Exchange: D4M Institutionally held: approx. 50% Liquidity: ~$15M, no debt

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Capital Structure

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A Donner Metals/Xstrata Zinc Joint Venture

Bracemac-McLeod

The next Matagami Mine

Q2 2013 production of zinc and

copper in Québec

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Mine Development

› Partnership with Xstrata Zinc (65% Xstrata / 35% Donner)

› Bracemac-McLeod Mine under construction - 90 kt Zn, 13 kt Cu / yr

› Production first part of Q2 2013, cash cost US$0.42 lb Zn

› Initial 4 year mine life, potential to expand to 7+

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Tracking On Budget and On Schedule

-750m

2010

2011

2012

2013

2014

2015

2016

LEGEND

350

290

230

170

Ramp Entrance Bell Allard South Pit

McLeod Deep Discovery

2.47 MT (Inferred Resources)

West McLeod

Exploration corridors

Bracemac Main Zone

Upper Bracemac Zone Bracemac KT Zone

Inferred resources

not included in mine plan

Open

McLeod

Zone

Current Advancement

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Proven and Probable Resources

Mt % Zn % Cu g/t Ag g/t Au Depth (m)

Bracemac-McLeod 3.7 9.6 1.3 28 0.43 35-900

Measured and Indicated Resurces

Mt % Zn % Cu g/t Ag g/t Au Depth (m)

McLeod copper

zone 0.24 1.0 1.3 7.8 0.19 600-700

PD1 (West Camp) 1.7 4.6 1.1 20 <0.1 25-515

Inferred Resources

Mt % Zn % Cu g/t Ag g/t Au Depth (m)

Deep McLeod 2.5 9.2 1.2 40 1.1 600-1,200

McLeod West 0.16 2.2 2.6 24 0.20 400-600

Resources and Reserves High-grade zinc, copper, silver and gold

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Revenues by metal

(as of Nov 2012)

Production by metal

(feasibility)

3% 7%

36% 54%

3% 4%

33% 60%

copper copper zinc zinc

silver gold

silver gold

Revenues by metal

(consensus Nov 28 2012)

3% 6%

31% 60%

copper zinc

silver gold

zinc 1.06/lb $

copper 3.35/lb $

silver 31.52/oz $

gold 1,661/oz $

zinc 0.91/lb $

copper 3.57/lb $

silver 34.18/oz $

gold 1,725/oz $

zinc 0.80/lb $

copper 2.50/lb $

silver 12 /oz $

gold 1,000 /oz $

Production primarily from zinc, with copper, silver and gold

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McLeod Deep proposed drilling

Key Tuffite

Surface

-500m

-1000m

*Conceptual mine design

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Established Infrastructure

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Copper

Zinc +

Copper

Underground at Bracemac-McLeod: Bracemac Main Zone Ore

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Reduced Risk Optimization

› Existing infrastructure

› Production without ramp-up

› Qualified workforce from Persévérance

› Treatment by Xstrata

› Permitted

› Grinding circuit

› Developing in ore

› Backfilling

› Zinc Larox

› Precious metals

Bracemac-McLeod

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Financing with Sandstorm Metals & Energy

Metal Purchase Agreement

› Payments : $US 32.75M, revenue from sales of copper and precious metals › Line of credit up to $US 4M › 100 % of zinc production remains unhedged › Other joint venture areas excluded

Cu

Au equivalent 20.8 M lbs

>2.75 US$ / lb, 0.80 US$/ lb Donner

<2.75 US$ / lb, 0.55 US$/ lb Donner <2.75 US$ / lb, 0.80 US$ / lb Donner

>2.75 US$ / lb, 1.05 US$ / lb Donner

>350 US$ / oz, 350 US$ / oz Donner

<350 US$ / oz, market price Donner

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Large Area of Mutual Interest: 4,737km2

Located in Mining-Friendly Jurisdiction

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South Flank - Key Tuffite 3D Model

Looking at the surface of the Key Tuffite (paleo-sea floor) in its current position in the South Flank

Matagami Town site

Bracemac-McLeod

Orchan West High-grade (Undeveloped)

Bell Allard

Historical Producer

Exploration Potential Ramp access under construction

Mill

2 Kms

Isle Dieu Matagami

Ramp Portal

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Exploration Targets Pipeline

Drill Targets

Delineation drilling

Advanced Exploration

Discovery

Feasibility study Definition drilling Scoping study

Development & production Bracemac-McLeod

Orchan West

PD1 OP

Bell Channel

Galinee 14

Matagami Mill 3,000 tonnes per day

McLeod Deep West McLeod

West McLeod

8.6% Zn, 0.14% Cu/ 2.2m

Daniel 1

2.2% Cu/ 4.0 m

South

Flank Perseverance

North New Hosco Central

Camp North Flank

0.34 MT 15.9% Zn, 1.8% Cu

Radiore 2.4% Cu/ 8.9m

3.6 MT Reserve

1.7 MT Meas. + Ind. Resource

2.6 MT Inf. + Ind. Resource

Radiore East

PD1 UG

Bracemac- McLeod extension

Cavalier 0.29 MT 1.4% Zn, 1.5% Cu

2.6 MT Inf. Resource

McLeod Up dip

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› Generation of revenues from the mine

› Exploration and potential acquisitions, with a focus on Quebec

Strategy for the future

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› Experienced exploration team

› Adaptable exploration plans

› Pipeline of high-quality drill targets

Bracemac-McLeod discovery - 2007

Intersecting the discovery hole - 2012 Miners at surface - 2012

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www.donnermetals.com

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Montréal, QC H3B 2C4

T : 514.286.1665

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Vancouver, BC V6E 0B6

T : 1-800-909-8311