Lakeland Resources Inc. (TSXv: LK) Corporate Presentation (June 2013)

JUNE 2013 / TSXv: LK / FSE: 6LL / lakelandresources.com / @LakelandRes!

TSXv:LK / FSE: 6LL / lakelandresources.com / @LakelandRes!

Disclaimer: This Presenta,on has been prepared by Lakeland Resources Inc. (“Lakeland”) using its best efforts to realis,cally and factually present the informa,on contained. However, subjec,ve opinion, dependence upon factors outside Lakeland’s control and outside informa,on sources unavoidably dictate that Lakeland cannot warrant the informa,on contained to be exhaus,ve, complete or sufficient. In addi,on, many factors can affect the Presenta,on which could significantly alter the results intended by Lakeland, rendering the Presenta,on unaKainable or substan,ally altered. Therefore, interested Users should conduct their own assessment and consult with their own professional advisors prior to making any investment decisions. This Presenta,on does not cons,tute a prospectus or public offering for financing, and no guarantees are made or implied with regard to the success of Lakeland’s proposed ventures. Interested investors are advised to seek advice from their investment advisors. Technical informa,on has been prepared in accordance with the Canadian regulatory requirements set out in Na,onal Instrument 43-‐101 and reviewed on behalf of the Company by Neil McCallum P.Geo., a Qualified Person.

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TSXv:LK / FSE: 6LL / lakelandresources.com / @LakelandRes! 3!

Lakeland Resources Inc. is a newly formed pure play uranium explora,on company focused on the Athabasca Basin in Saskatchewan, Canada.

About Lakeland


Investment Highlights Strong Fundamental Outlook for Uranium Prices

•  Global demand for electricity is set to grow 70%+ by 2030 •  434 reactors in opera,on; 544 new reactors under construc,on, planned or proposed •  Supply/demand imbalance unavoidable post 2013-‐14

Experienced Advisors and Team •  Extensive experience in uranium explora,on & resource finance

Favourable Share Structure •  Excellent leverage to explora,on success with only 22 M shares outstanding

Secured Significant PorBolio of Uranium ExploraCon ProperCes •  South Pine/Riou Lake/Otherside Proper,es ini,al priority focus for drilling •  Total poreolio of nine projects encompassing 100,000+ hectares •  All projects benefit from substan,al historic explora,on data and expenditures •  All projects have the geologic characteris,cs amenable to a major uranium discovery

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Geological Consultants

Dahrouge Geological ConsulCng Ltd. •  Ac,ve in the Athabasca Basin since early 2000 •  Uranium explora,on team led by Jody Dahrouge, B.Sc.

P.Geol. and Neil McCallum, B.Sc. P.Geol. •  Experience with uranium discoveries at Waterbury Lake

and PaKerson Lake South amongst other proper,es •  Excellent network of prospectors, geophysical consultants

and explora,on support contractors


Current Advisory Board Members Mr. Richard Kusmirski, M.Sc., P.Geo Experienced Uranium Geoscien2st Mr. Richard Kusmirski has over 40 years of explora,on experience in North America and overseas, and has ac,vely par,cipated in the discovery of a number of uranium, gold and base metal deposits. For several years, in his capacity as Explora,on Manager, he directed Cameco Corpora,on’s (TSX: CCO) uranium explora,on projects in the Athabasca Basin. In 1999, Rick joined JNR Resources Inc. becoming Vice President of Explora,on in 2000. Subsequently, he directed the explora,on program that led to the discovery of the Maverick Zone on the Moore Lake uranium joint venture in the Athabasca Basin with partner KennecoK Canada. Rick became JNR's President and CEO in January of 2001. In February of 2013, Denison Mines Corp. (TSX: DML) successfully acquired all of the outstanding shares of JNR by way of a friendly all-‐share take-‐over bid.

Mr. Thomas Drolet B.Eng., M.Sc., DIC Nuclear Energy and Uranium Industry Specialist Mr. Thomas Drolet is a uranium and nuclear industry specialist and principal of energy consultancy Drolet & Associates Energy Services Inc. Mr. Drolet has had a 40+ year career in the energy sector, where he spent 26 years with Ontario Hydro in various engineering, research and opera,ons func,ons. He formed and headed Canada's Research and Development program into Fusion (CFFTP) in 1982 and then moved into Interna,onal Commercial work with Ontario Hydro Interna,onal, where he was named President and CEO in 1993. Mr. Drolet was then appointed Managing Director of American Electric Power Canada, and President of Canadian Energy Opportuni,es, Inc. where he was involved in mergers, acquisi,ons and other consul,ng ac,vi,es in the Canadian and US power sectors. Mr. Drolet earned a Bachelor's Degree in chemical engineering from Royal Military College of Canada, a Master's of Science degree in nuclear technology/chemical engineering and a DIC from Imperial College, University of London, England. He is a frequent guest and keynote speaker on nuclear energy at global conferences.


Corporate Structure Shares Outstanding: 22.1 million Op,ons ($0.11): 1.4 million Fully Diluted: 23.5 million

Major Shareholders Management, founders and insiders: 22% Zimtu Capital Corp.: 20% Cash: ~$300k Current Management Team & Board: Jonathan Armes -‐ President, CEO & Director Alex Falconer, C.A. -‐ CFO & Director Garry Clark, P.Geo -‐ Director Ryan Fletcher, B.A. -‐ Director David Hodge -‐ Director

(as at June 2013)


Why Uranium? Electricity demand to grow 76% by 2030. The number of nuclear reactors is rising to meet it  434 reactors are in opera,on world-‐wide  544 new reactors (318 proposed, 159 planned,67 under construc,on)  China, Russia, India and USA are primary drivers

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World Nuclear Capacity

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There are currently 67 reactors under construc,on world-‐wide – newbuild levels not seen since the 1970s – of which 13 have had first concrete poured since Fukushima

Source: World Nuclear Associa,on


Uranium: Supply/Demand Dynamics Unbalanced A supply shortage is unavoidable post 2013-‐14:

•  Primary supply will have to increase by ~ 90Mlb U3O8/year to meet demand requirements by 2020 (in 8 years)

•  In previous 8-‐year period (2003 – 2011), produc,on increased by 48Mlb, but Kazakhstan accounted for 42Mlb (going forward there is not another Kazatomprom to contribute such growth)

Source: Paladin Energy Ltd.


Uranium: Pricing One of the Best Commodity Price Outlooks

(1) Consensus Forecast: Argonaut July 2012

Key Commodity Price Performance (3 Year Horizon)


Catalysts 2013 Three Key Catalysts:  Increased Chinese buying with approvals now resumed (29 reactors currently under construc,on, 2 restarts)  Restart of Japanese reactors  End of Russian HEU Agreement (end-‐2013)


Athabasca Basin The World’s Leading Uranium Province. Why? 1. Grades: in excess of 20% uranium (compared to the global average of 0.14%) 2. Infrastructure 3. Poli,cally stable environment for investment Post Fukushima: Rio Tinto Spent $654M to get into the Basin


Recent M&A Ac,vity in the Basin A Flurry, Post-‐Fukushima: JAN 2012 Rio Tinto Acquires Hathor APR 2012 Fission Acquires Pitchstone NOV 2012 Denison Acquires JNR

Nexgen Acquires Mega Uranium’s Basin Assets APR 2013 Denison Acquires Fission Assets

(Waterbury, etc.)


Athabasca Basin Uranium Our Explora,on Strategy LocaCon   Saskatchewan is a favorable mining jurisdic,on   Projects at or near shallow basin margins (0 to 400-‐m depth) Geology   Athabasca Basin unconformity deposits are the highest

grade deposits worldwide   Deposits associated with altera,on, conductors, and

radioac,vity; ozen in structurally complex environments ExploraCon   Shallow targets with low(er) drilling and explora,on costs   Projects are selected based on a review of historic explora,on   Geophysics

•  Electromagne,cs, IP/Resis,vity, Magne,cs, Radiometrics, and Gravity

  Geochemistry •  Arsenic, Boron, Nickel, Radon etc. •  Uranium

  Altera,on Mineralogy


Athabasca Basin Uranium PROJECT PORTFOLIO Northern Athabasca Basin •  South Pine •  Riou Lake •  Otherside •  Circle Lake

Northeast Athabasca Basin •  Perch •  Hawkrock •  Small Lake

Eastern Athabasca Basin •  Jasper •  Richmond

All projects 100%-‐owned


Ownership: 100% Lakeland Total Property Package Size: 45,285 hectares • Property package spans ~80km between Fond du Lac and Stony Rapids – excellent infrastructure, easy to explore

• Benefits from $3M+ of archived explora,on (airborne gravity/MEGATEM, etc.) completed by UEX Corp. since 2005 -‐ iden2fied targets that remain to be tested

• Mul,ple targets (South Pine, Gibbon’s Creek, Otherside) iden,fied benefit from shallow depths to unconformity -‐ lower costs and higher success rates for explora2on, beIer economics for discoveries

Focus: North Basin Proper,es South Pine, Riou Lake and Otherside


Poten,al of Area Demonstrated by:

Uracan/UEX Corp. Black Lake Project: • UEX Corp. recently (Jan 2013) op,oned 60% to Uracan for C$10.0 million in explora,on over 10 years

• DDH BL-‐018: 0.69% U3O8 over 4.4 metres, including 1.96% U3O8 over 0.50 m

UEX Corp. Riou Lake Project: • Radioac,ve boulders in glacial ,ll on the property with up to 11.3% uranium; source s,ll to be iden,fied


Targets


South Pine Target

•  17 historic drill holes -‐DDH PC81-‐2: 0.15% U3O8 over 0.13 m -‐Several anomalous intersects •  2.5 kilometre long conductor •  Shallow: 70 metres to unconformity •  Easy access along winter highway •  Not followed up since discovery in 1981


Gibbon’s Creek Target • At least 23 historic drill holes in region: -‐DDH GC-‐15: 0.18% U3O8 over 0.13 m -‐Several anomalous intersects -‐Very strong altera,on in sandstone and basement • Easy access near winter highway • Shallow: 100 metres to unconformity • Nearby conductor is untested

Otherside Target • Priority Airborne EM (MegaTEM) anomaly • Shallow: es,mated 150 metres to unconformity


Perch Lake Property • Straddles the northeastern edge of the Athabasca Basin • 4 kilometre long basement conduc,ve trend iden,fied by a 2007 VTEM survey • Unexplained uranium radiometric anomaly, iden,fied by a 2010 regional Geological Survey of Canada survey, lies directly on the northern por,on of the conduc,ve trend and is priority for immediate follow-‐up • Prospec,ng, mapping, and sampling proposed


2013 Timeline

Airborne geophysics (Re-‐interpreta,ons)

All proper,es

July 2013

Fieldwork (Radon surveys, prospec,ng, sampling)

South Pine/Riou Lake/Otherside/Perch

Q3 2013

Ground geophysics (IP resis,vity)

South Pine

Q4 2013

Explora,on drilling

South Pine/Riou Lake/Otherside

Q1 2014

The company will also con2nue to review and generate opportuni2es for acquisi2on/staking and poten2al subsequent joint venture.


Key Market Comparables Athabasca Basin Uranium Explorers Company Shares Outstanding Recent Trading Price Market Cap.

Fission Uranium Corp. (TSXv: FCU) 149.5 M $0.71 $106 M

Alpha Minerals Inc. (TSXv: AMW) 22.6 M $4.05 $91 M

NexGen Energy Ltd. (TSXv: NXE) 86.8 M $0.275 $23 M

Forum Uranium Corp. (TSXv: FDC) 19.0 M $0.39 $7.4 M

Azincourt Resources Inc. (TSXv: AAZ) 14.1 M $0.33 $4.6 M

Lakeland Resources Inc. (TSXv: LK) 22.1 M $0.10 $2.2 M

*As at June 2013


A well-‐posi,oned Athabasca uranium explorer with key success factors in place.

  Team with technical and capital markets strength   Building solid asset base, large scale presence in the Basin   Low shares outstanding with high insider ownership  Well-‐planned and aggressive explora,on program for 2013/14   Startup valua,on Strong interest and market fundamentals for uranium

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Make Contact

Lakeland Resources Inc. Phone: 604.681.1568 Toll Free: 1.877.377.6222 Email: [email protected] Web: www.lakelandresources.com Roger Leschuk, Corporate Communica,ons Phone: 604.681.1568 Email: [email protected]


Investor Relations

Lakeland Resources Inc. (TSXv: LK) Corporate Presentation (June 2013)