Corporate Presentation TSX.V June 2014

TSXV.CAC

Consolidating Micro Caps, Exploiting Quality Assets

Certain statements contained in this Presentation constitute forward-looking statements or information (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements otherthan statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", “opinion", "continue", "estimate", "expect","may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", “plans” and similar expressions. These statements involve known and unknown risks, uncertainties and other factorsfacing the Corporation. Risks, uncertainties and other factors may be beyond the Corporation's control and may cause actual results or events to differ materially from those anticipated in such forward-looking statements.Canamax believes that the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statementsincluded in this Presentation should not be unduly relied upon by investors. These statements speak only as at the date of this Presentation and are expressly qualified, in their entirety, by this cautionary statement. Inparticular, this Presentation contains forward-looking statements pertaining to the following: future plans and operations; reserve estimates; expectations of initial and future production; cash flow; capital expenditures;production targets; drilling inventory; netbacks; development potential; production acquisition costs; and acquisitions.

With respect to forward-looking statements contained in this Presentation, Canamax has made assumptions regarding, among other things, results of future operations, the legislative and regulatory environments of thejurisdictions where Canamax carries on business or has operations, the impact of increasing competition and Canamax’s ability to obtain additional financing on satisfactory terms. Canamax’s actual results could differmaterially from those anticipated in these forward-looking statements as a result of the risk factors included in this Presentation such as: the impact of general economic conditions; industry conditions; volatility in the marketprices for natural gas and crude oil; currency fluctuations; uncertainties associated with estimating reserves; geological, technical, drilling and processing problems; liabilities and risks, including environmental liabilities andrisks inherent in natural gas and crude oil operations; stock market volatility; the ability to access sufficient capital; incorrect assessments of the value of acquisitions; and, competition for, among other things, capital,acquisition of reserves, undeveloped lands, equipment, services and skilled personnel.

This forward-looking information represents Canamax’s views as at the date of this Presentation and such information should not be relied upon as representing its views as of any date subsequent to the date of thisPresentation. Canamax has attempted to identify important factors that could cause actual results, performance or achievements to vary from those current expectations or estimates expressed or implied by the forward-looking information. However, there may be other factors that cause results, performance or achievements not to be as expected or estimated and that could cause actual results, performance or achievements to differmaterially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as results and future events could differ materially from those expected or estimated in suchstatements. Accordingly, readers should not place undue reliance on forward-looking information.

The forward-looking statements contained in this Presentation speak only as of the date of this Presentation. Canamax does not undertake any obligation to publicly update or revise any forward-looking statements, whetheras a result of new information, future events or otherwise, unless required by applicable securities laws.

Undue reliance should not be placed on management's assessment of reserve estimates, resource potential and initial and potential production rates. All references to such information contained herein are based uponinternal targets as prepared by management of Canamax and are not an estimate of reserves, resources or of production rates that may actually be achieved. Such information has been provided to assist the reader inunderstanding certain principal factors upon which management has relied in making capital investment decisions and for internal budget preparation. Reserve potential information provided in this Presentation includes bothdiscovered and undiscovered resources and recoverable reserve characteristics, and there is no certainty that any portion of the undiscovered resources will be discovered and, if discovered, that any volumes would beeconomically viable or technically feasible to recover or produce. Undue reliance should not be placed on estimates of reserve potential in terms of assuming Canamax's reserves or recoverable resources. All estimates ofreserve potential contained herein are based upon internal estimates of management of Canamax.

This Presentation contains references to Original Oil in Place ("OOIP") which is equivalent to estimates of oil and gas classified as Discovered Petroleum initially in Place ("DPIP") which are not, and should not be confused withoil and gas reserves. "Discovered Petroleum Initially in Place" is defined in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook") as the quantity of hydrocarbons that are estimated, as of a given date, to becontained in known accumulations. DPIP is divided into recoverable and unrecoverable portions, with the estimated future recoverable portion classified as reserves and Contingent Resources, as defined in the COGEHandbook. There is no certainty that it will be economically viable or technically feasible to produce any portion of the DPIP except to the extent identified as proved or probable reserves. Resources do not constitute, andshould not be confused with, reserves. It should be noted that given the current early stage of development of Canamax's properties, estimates of DPIP potential might change significantly in the future with furtherdevelopment activity and the amount of Contingent Resources has yet to be estimated. The resource potential estimates provided herein are estimates only and the actual resources may be greater than or less than theestimates provided herein. A recovery project cannot be defined for these volumes of DPIP at this time. There is no certainty that it will be economically viable or technically feasible to produce any portion of these potentialresources.

The information contained in this Presentation does not purport to be all-inclusive or to contain all information that a prospective investor may require. Prospective investors are encouraged to conduct their own analysis andreviews of Canamax and of the information contained in this Presentation and the public record. Without limitation, prospective investors should consider the advice of their financial, legal, accounting, tax and other advisorsand such other factors they consider appropriate in investigating and analyzing Canamax. Additional information relating to Canamax is available on the Canadian System for Electronic Document and Analysis and Retrieval(“SEDAR”) at www.sedar.com

Any financial outlook or future-oriented financial information, as defined by applicable securities legislation, has been approved by management of Canamax. Such financial outlook or future-oriented financial information isprovided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for otherpurposes.

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Reader Advisory and Cautionary Statements

• Consolidate financially distressed micro caps

• Exploit low risk development opportunities

• First mover advantage – few companies targeting space

• Top tier technical and financial competence

The Opportunity

• Completed 4 accretive deals and farm-in in last 9 months – over 1,000 boe/d production capability

• Closed 3 financings - $20mm gross proceeds

• Maintain strong balance sheet – No debt

Continuous Execution

• Focus on consolidation in core areas

• Targeting 2,000-3,000 boe/d in 12-24 months

• Combination of acquisition and exploitation

• Multi-year inventory of low risk drilling locations

Visible Growth

3

Growing shareholder value

Fall 2013

• Brazeau – Acquired 100% working interest in 2 sections – no up front investment, Recompleted 2 wells in Cardium and commingled 1 well

• Flood - Expand Energy acquisition for net $0.7mm, Large Montney Oil play 100% working interest , 37 sections, 3D Seismic, drilled water disposal well and upgraded battery for injection

• Wapiti - Completed farm-in - drilled horizontal Cardium well for gross $3.5mm IP 30 – 405boe/d (284 net), and completed land swap to acquire a more prospective section

Q1 2014

• Acquisition of Ki Exploration for $6.0mm

• 330 boe/d production and 2P reserves of $16.6mm

• Metrics - $18,000 boe/d or 3.0x trailing cashflow

• Completed financing for $13.0mm to fund Ki acquisition and Capex

• Purchased additional Flood assets – 3.75 additional net sections, 40 boe/d and gas pipeline with sales point and compressor

Q2 2014

• Announced capital budget for remainder of 2014

• Develop Flood (8 wells, recomplete 3 wells & infrastructure)

• Drill 1 well (0.7 net) at Wapiti and recomplete 4 wells in Retlaw/Brazeau

• Drilling and recompletion program in progress - good initial results

• Rounded out management and operations team capable for expansion 3000 - 5000 boe/d

4

Acquisition & Exploration to date

Targeted calendar 2014 exit production rate 1,400-1,500 boe/d (55% Oil & NGL’s)

5

Corporate Snapshot

Stock Exchange TSX.V – Symbol CAC

Current share price – at June 23, 2014 $1.77

Capital StructureCommon stock (basic)

(fully diluted)(Insider ownership – fully diluted)

Market Capitalization - BasicCash and working capital – Feb 28, 2014 (Proforma) (1)

Enterprise value - Basic

41.3mm57.4mm

15%$73mm$10mm$63mm

(1) Proforma Ki Exploration acquisition and net proceeds from May financing

(2) Production capability as of April 7, 2014 included 977 BOE/d of actual (Canamax + Ki) plus 100 estimated BOE/d coming on stream in June at Flood

Production and ReservesProduction capability (2)

Oil & NGL’s %1P Value (as at Feb 28, 2014)

2P Value (as at Feb 28, 2014)

Undeveloped land (Net acres)Field Net Back (quarter ended Feb 28, 2014)

1077 boe/d52%

$34mm$55mm53,000

$28/boe

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Experienced Management and Board

MANAGEMENT

Brad Gabel – President & CEO and Director• Involved in numerous acquisitions and divestitures (private and

public companies) - $360mm

• President of Pure Energy Services (TSX Listed sold for $280m),

• Founder & CEO of Canadian Sub-Surface (was TSX listed)

Jeremy Krukowski, P.Eng – Chief Operating Officer• VP Operations for Rimfire Energy Inc. start-up to 600 boe/d,

Manager of Operations at Onyx (2006) Inc. – start-up to 600 boe/d, Manager of Operations at Onyx O&G Ltd. – start-up to 1,600 boe/d

Chris Martin, C.A. – VP Finance and CFO• VP Finance and CFO of Pure Energy Services, Canadian Sub-

Surface Energy Services, Jet Energy and Calvalley Petroleum

• Involved in numerous acquisitions and divestitures

Karen Genoway – Landman• VP Land at Onyx O&G Ltd. and Rimfire Energy Inc., VP Land at

Enerplus Corp.

Nabil Khouri. P. Geol – Geologist • Over 45 years experience in WCSB. Worked with Pan Canadian,

Amerada Hess, Onyx, Ascot and Rimfire

BOARD OF DIRECTORS

Kevin Adair – Executive Chairman

Hugh Ross – Director

Mark Shilling – Director

Stuart McDowall – Director

Allan King – Director

Kevin Delaney - Director

OPERATIONAL & EXECUTIVE TEAM

Ian Buchanan – Internal legal council and corporate secretary

Jeff Lane, P.Eng – Operations & Production Manager

Bonnie Lamming CA - Controller

Gary Sveinson – Production manager

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Canamax Core Areas

Flood (100% WI) & Hines Creek (80% WI)

• Flood: Montney Oil; large land position (41 net sections); 28.5km 3D seismic, 7500 BBL battery, gas sales line; water disposal well and 10 wells

• Hines Creek: Mannville, Montney & Gething; 25.0 net sections, battery and disposal have year round access

Brazeau River (100% WI)

• Cardium and Belly River light oil• 4 producing wells (2 sections)

Wapiti (70% WI) & Bilbo (63% WI)

• Wapiti: Cardium light oil• Farm-in earning well drilled (1.4 net sections) and on

production

Retlaw (75% WI)

• Mannville medium gravity oil & shallow cretaceous gas; 32 net sections; good seismic coverage

8

Flood – Large OOIP Montney oil development play

Recently acquired 5 wells, land and sales line

Total of 41 net sections with 28.5km2 of 3D seismic

7,500 Bbl/d oil battery in place

Significant development potential & water disposal

Low decline rates, Water floodable

Vertical well development plan

Drill, complete and tie-in cost of less than $1.0mm

Similar economics to Saskatchewan “Viking oil play”

Acreage is on trend with Worsley, Dixonville

and GrimshawMontney oil fields

Major activity in the area with the majority

of the discoveries in mid-2000’s

3D Seismic Coverage

Oil Battery Injector WellLEGEND

Canamax 100% Lands

Recent Asset Purchase

Montney Production

Canamax Well

Montney Oil Offsetting ProductionPool Montney A Montney C Triassic D Montney F TBD

Operator CNRL Spyglass Storm Petrus Canamax

Founder Blue Mt Trigger Belamont Devon Expand

Strike Area Worseley Dixonville Grimshaw Tangent Flood

Discovered 2004 2004 2007 2006 2011

Producers 37 111 11 22 8

Injectors 9 81 1 0 1

Production (bbl/d) 576 2,687 241 215 150

Cumulative Oil (bbl) 1,751,657 8,305,576 460,155 936,457 186,000

Worlsey

Dixonville

Grimshaw

Information as of March 2014 (Accumap)

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Flood - Comparison to Viking play

Company Raging River Whitecap Beaumont Canamax

Asset Dodsland Lucky Hills Kerrobert Flood

Assumptions

Well Cost ($MM) $0.90 $0.93 $0.90 $0.85

IP 30 (boe/d) 60 120 85 50

Liquids (%) 95% 80% 96% 90%

Yr1 Decline (%) 60% 80% 80% 50%

Yr2 Decline (%) 10% 20% 8% 10%

Yr3 Decline (%) 5% 5% 3% 6%

Yr4 Decline (%) 5% 5% 3% 6%

EUR (mboe) 49.5 80.0 56.5 96.0

Liquids Content (%) 96% 80% 98% 90%

Economics 1 2 3 4

IRR (%) 85.0% 127.4% 121.9% 74.6%

NPV(10%) ($MM) $1.2 $1.8 $1.9 $1.6

Payout (years) 1.0 0.5 0.7 1.3

F+D ($/boe) $18.18 $11.63 $15.93 $8.85

Recycle (netback/F+D) 2.8x 3.9x 4.1x 5.0x

Investment Ratio (inv./NPV10) 129% 188% 210% 193%

0

20

40

60

80

100

120

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35

RRX - Dodsland WCP - Lucky HillsBeaumont - Kerrobert CAC - Flood

Key assumptions include:

• Commodity prices have been kept flat at $90/bbl Edmonton par with at $10 quality differential and $4.00/mcf AECO

• Canamax cash flows include $17.00/boevariable opex

• EUR of 96mboe is based on primary of 60mboe and secondary of 36mboe per well

• Secondary recovery is based on waterflood of similar formations

Months on production

Dai

ly P

rod

uct

ion

(b

oe

/d)

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Flood – Potential development plan

Phase 2 - 2015• Second phase drilling

commences summer of 2015• Drill and complete an additional

11 vertical wells• Capex spend $9.9mm

Phase 1 - 2014 Bring on water disposal facility

and reactivate 4 wells• Drill and complete 8 vertical wells• Complete infrastructure including

pipeline to injection facility, and tie in to gas sales line

• Capex spend $10.7mm

Reserve Parameters Unit Montney Oil

OOIP (per section)* MMbls 3.7

API Degree 29.5

Recovery Factor % 10.8

Recoverable Oil MMbls 0.4

Recoverable Gas BCF Flared

Recoverable Boe MMBOE 0.4

Single well economics NPV10 $1.5mm

Second Phase 2015

• 11 Vertical WellsFirst Phase 2014

• 8 Vertical Wells

LEGEND

Canamax Lands

Phase 1 Location

Phase 2 Location

Work-over Well

• Pool size and future development will likely increase based on delineation and operational success

• Phase 3 development will include more locations to the southwest and may begin waterflood process

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Management internal reserve estimates @ 100% WI

Wapiti – Cardium Oil

Newly Acquired Section

New 9-21 Hz Cardium Well on Production

Ki Acquisition

Reserve Parameters Unit Wapiti

OOIP (per section) MMbls 4.7

API Degree 42.0

Recovery Factor % 8.1

Recoverable Oil MMbls 0.5

Recoverable Gas BCF 1.5

Recoverable Boe MMBOE 0.8

Single well economics NPV10 $3.2mm

* Recent Area Wells have an average IP of 190 BOE/d

LEGEND

Producing Well

Horizontal Location

• Farm-in with RimFire Energy – net interest 70%• Earning well at 9-21-67-8W6 has been drilled & completed as Cardium

oil well – on production March 25 • IP 30 rate 405 BOE/d (net 284 BOE/d - 86% Oil & NGL)

• Newly acquired section from asset swap (70% net interest)• 7 additional development locations – all horizontal wells• Gross cost to drill, complete and equip - $3.5mm• 2014 Capex budget = 1 Hz well $2.5mm net

Canamax holds 100% WI in 2.25 sections

4 Producing wells

1,620 mmcf gas production (270 boe/d)

150 bbls per day oil production

Gas compressor installed to improve efficiency and remove third party fees

Canamax owns drilling pads and pipelines

Multi-zone potential

Proven Cardium Oil

Belly River – “G” & Basal Zones

10 potential locations

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Brazeau River – multi-zone potential

Management internal reserve estimates @ 100% WI

Multi-Zone Potential Reserve Parameters Unit

Middle Belly River (G

Zone) Basal Zone Cardium

OOIP (per section) MMbls 8.1 6.1 4.5

API Degree 42.0 42.0 45.0

Recovery Factor % 3.7% 4.9% 5.3%

Recoverable Oil MMbls 0.3 0.3 0.2

Recoverable Gas BCF 0.7 0.7 1.5

Recoverable Boe MMBOE 0.5 0.5 0.4

Canamax Lands

Deethree Lands

Belly River Production

Cardium Production

Mannville Production

Belly River G

Basal Belly River

Belly River Play

Vertical Well Locations

Cardium Play Upper Mannville (Wilrich) Play

Wilrich Recomplete

2014 Capital Budget - $14.0mm

Flood $10.7mm

Wapiti $2.5mm

Brazeau $0.5mm

Retlaw $0.3mm

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2014 Capital Budget

• Recomplete 3 wells

• Drill and complete 8 wells

• Tie-in and infrastructure

• Drill, complete and equip 1 well (0.7 net)

• Recomplete 1 Wilrich well

• Recomplete 3 wells and equip

Estimated incremental production range for 2014 Capital Budget 750-850 boe/d (IP 90)

Resulting flowing efficiency rate between $16,500 and $19,000 per barrel

Canamax may make changes to its capital expenditure budget depending on a number of factors, including drilling and and completion results, business conditions, commodity

Prices and prospective acquisitions and divestitures.

400

600

800

1000

1200

1400

1600

Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14

High Case

Low Case

14

Production Summary – Actual & Forecast

Production estimate additions in second half of 2014 reflect capital budget

BO

E/D May Production

Target Exit Production Target 60% Oil

& NGL’s

15

Exploitation program – Low risk development

(1) Canamax may make changes to its capital expenditure budget depending on a number of factors, including drilling and and completion results, business conditions, commodity prices and prospective acquisitions and divestitures.

Total Development Potential (1)

Area Description Zone

Net CapitalRequiredLow Case

Net CapitalRequired High Case

Est Net ProductionIP (365) Low Case

Est Net ProductionIP (365) High Case

($mm) ($mm) (Boe/d) (Boe/d)

Flood 40 – 150 Vertical wells Montney $38.0 $140.0 1,480 5,550

Brazeau 2 – Hz wells Belly River G $9.0 $9.0 300 375

2 – Hz wells Basal Belly River $9.0 $9.0 300 375

2 – Vertical wells Cardium $3.5 $3.5 170 265

2 – Hz wells Wilrich $17.0 $17.0 1,000 1,790

Wapiti 7 – HZ wells Cardium $14.7 $14.7 700 1,050

Hines Creek 1 – Hz well Montney $1.5 $1.5 60 100

Retlaw 1 – Recompletion Glauconite $0.3 $0.3 20 40

Retlaw 1 – HZ well 25% WI Glauconite $0.5 $0.5 15 40

Totals 60-170 Wells $93.5 $195.5 4,045 9,585

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Investment highlights

• First mover advantage – little or no competition in microcap space.

• Management, top tier technical and financial competence

• Low cost, no-nonsense decision making

How we are different

• Relationships with financial institutions to access distressed companies

• Additional prospects identified

Acquisition Pipeline

• Focus on consolidation of quality assets in core areas

• Maintain strong balance sheet

• Acquisition and low risk exploitation, and asset optimization

• Multi year inventory of drilling locations

Disciplined & Focused

June 2014Appendix

Break-down of Dilutive Share components

Stock Options Exercise price Expiry Dates Proceeds

285,167 $0.60 Feb-17 $171,100

1,166,667 $1.08 Oct-18 $1,260,000

934,999 $1.36 Apr-19 $1,271,599

110,000 $1.42 May-19 $156,200 Avg

2,496,833 $2,858,899 $1.15

Warrants Exercise Price Expiry Dates Proceeds

500,000 $0.60 Oct-14 & Feb-15 $300,000

4,010,409 $0.60 Sep-15 $2,822,155

575,481 $1.25 May-15 $719,351

287,741 $2.40 May-15 $690,577

8,207,513 $2.40 Mar-16 $19,698,031

13,581,144 $24,230,115 $1.78

TOTALS 16,077,977 $27,089,014 $1.68

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Dilutive Equity Instruments