Maniitsoq Ni-Cu Sulphide Project, SW Greenland

A District Scale Nickel Opportunity

January 2016

2

Cautionary Note Regarding Forward-looking Statements

This document contains certain "forward-looking statements" and "forward-looking information" under applicable securities laws concerning the

business, operations and financial performance and condition of the Company. Forward-looking statements and forward-looking information include, but

are not limited to, statements with respect to the ability to complete the port assignment, the ability of the Company to realize upon the benefit of owning

the port, impact of mineralogy, estimation of mineral resources at mineral projects of the Company; economics of production; success of exploration

activities; the future economics of minerals including nickel and copper; synergies and financial impact facilities; the benefits of the development

potential of the properties of the Company and currency exchange rate fluctuations. Except for statements of historical fact relating to the Company,

certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as

"plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or

"will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are based

on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ

materially from those projected in the forward-looking statements. Many of these assumptions are based on factors and events that are not within the

control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results

anticipated by such forward-looking statements include difficulties realized in completion of the assignment, barriers to the assignment, difficulties in

development of the assets and suitability of the port in relation to development of the assets of the Company, variations in metal grades, changes in

market conditions, variations in recovery rates, risks relating to international operations, fluctuating metal prices and currency exchange rates, and other

risks of the mining industry, including but not limited to the failure of plant, equipment or processes to operate as anticipated. The Company cautions that

the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully

consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in

those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-

looking statements included in this document should not be unduly relied upon. These statements speak only as of the date of this document. The

Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except

as required by applicable securities laws.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those

described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended.

Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve

estimates of the mineralization that will be encountered if the property is developed.

Statements about the Company's future expectations and all other statements in this document other than historical facts are "forward looking

statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and as that term

defined in the Private Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbours created

thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially

from the expected results.

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COMPANY OVERVIEWExploring for nickel-copper sulphides in Greenland and Canada

Prospector and Developer of the Year 2015 Award; Government of Greenland

CAPITAL STRUCTURE (As at January 2016)

Issued & Outstanding: 207,629,506

Warrants: ($0.21 - $1.00) 27,738,344

Options: 10,230,000

Fully Diluted: 245,597,850

52 Week High/Low $0.28/$0.10

Current Price $0.11

Market Cap $22 million

Cash $3 million

SIGNIFICANT SHAREHOLDERS

Sentient Group 49.7%

VMS Ventures 14.5%

Company listed on the TSX-V in May 2011

Corporate head office in Vancouver, Canada

Flagship Maniitsoq exploration project in SW

Greenland with district scale land position

Widespread and significant Greenfields Ni-Cu

sulphide drill intersections

Experienced management, board and advisors

with technical and operational nickel expertise

Strong cornerstone investor

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NAN: FOCUSED NiS STRATEGY

Nickel consumption globally in 2015 is

estimated as 1.90Mt, which is forecast to

increase in 2016 to 1.95Mt, and further in

2017 to 2.02Mt

This is the equivalent of consuming 10

10MT-2% nickel ore bodies every year

and there are very few projects of

significant size waiting to be developed

Approximately half of the primary nickel

consumption will take place in China.

China is currently consuming approx.

984,000t nickel per annum

Nickel mine closures thus far have been

small, taking out approximately 10-15kt

nickel in concentrate on an annualized

basis for 2015, but could rise to around

35kt in 2016

Depletion of existing near surface nickel

sulphide reserves

Source: CRU, Wood Mackenzie

NICKEL INDUSTRY C1 CASH COST CURVE 2015

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Depletion of low cost sulphide deposits; supply shifting to higher cost laterite sources

Flexed 2015 $ data 2014 $

Sources: Wood Mackenzie (Oct. 2015), Mirabela Nickel Limited (February 15, 2015), First Quantum Minerals Ltd (March 31, 2015),

Lundin Mining Corporation (May 25, 2015), Sherritt International Corporation (May 12, 2015), Cliffs Natural Resources (April 2015)

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MANAGEMENT & TECHNICAL TEAM

Keith Morrison, P. Geo. – Chief Executive Officer

Over 35 years of international experience in the resources sector with an accomplished background in strategy, finance,

exploration, technology, global operations, capital markets and corporate development. Formerly, Mr. Morrison co-founded

two significant Canadian-based success stories, Quantec and QGX

Mark Fedikow, HBSc., M.Sc., Ph.D., P.Eng., P. Geo., C.P.G. - President

40 years of industry and government experience; Fellow of Assoc. of Applied Geochemists; former Chief Geologist, Mineral

Deposits Section, Manitoba Geological Survey

Cheryl Messier, CGA - Chief Financial Officer

Over 15 years in finance with last 7 years as CFO or controller in various public companies

Neil Richardson, P. Geo. - Chief Operating Officer

Over 26 years in mineral exploration (base metals, nickel and gold) and mining operations in Canada and globally;

extensive experience in resource-reserve estimations and operations primarily with Hudbay and Murgor

Patricia Tirschmann, P. Geo., HBSc., M.Sc. – Vice President, Exploration

26 years specializing in magmatic nickel-copper sulphide exploration in Canada and globally including 18 years with

Falconbridge Limited; most recently Vice President Exploration for Continental Nickel Limited

Jim Sparling, P. Geo., B.Sc., MBA - Project Manager

Over 25 years exploring for base metals, gold and nickel; member of Hudbay team that discovered four economic ore

bodies in the Flin Flon-Snow Lake belts; recently COO for Snip Gold and Exploration Manager for StrataGold

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DIRECTORS John Sabine - Non-executive Chairman

Senior Counsel to Bennett Jones LLP with over 40 years of legal expertise in mining, corporate reorganizations, securities, financings

and mergers and acquisitions

Keith Morrison, – Chief Executive Officer

Douglas Ford - Director

27 years working in public markets, serving as CFO and board member for a number of junior companies; extensive experience in

corporate finance, financial reporting, compliance, public and media relations and operations

Christopher Messina - Director

22 years of international experience in the global capital markets, private equity, commodities and is an advisor to a number of

technology companies in the big data analytics and artificial intelligence industries, including his current role as SVP, Business

Development at Arria NLG plc.

Gilbert Clark - Director

Geologist with more than 13 years of industry experience principally in mining and international resource developments; currently an

Investment Advisor with The Sentient Group, an independent private equity investment firm specializing in the global resources industry

Jim Clucas - Director

Former Chief Financial Officer of Inco’s Canadian operations and involved in the development of several mineral deposits including the

Snow Lake Mine (High River Gold Mines), Montana Tunnels (Pegasus Mining) and the Fenix Project in Guatemala; founder of

International Nickel Ventures Inc.; currently President and CEO of Search Minerals

Edward Ford - Director

Chartered accountant and specialist in venture capital and bridge financing; over 40 years experience creating and implementing

financial development plans for client enterprises in Canada and the US

John Roozendaal - Director

20 years of mineral exploration experience; founding director, Interim CEO and President of VMS Ventures Inc.; directly involved in the

Reed Copper discovery

GREENLAND: OPEN FOR BUSINESS

POPULATION: 59,900

Capital: Nuuk

Government: Greenland is a democratic country

with a transparent regulatory system,

competitive mining tax regime and no land

claims issues

Pro Mining: Committed to resource extraction

A number of mining projects in the exploitation

permitting process and one in construction

phase.

Government 100% land ownership

Tax and Royalty Rates: Effective Corporate Tax

Rate: 31.8% (same for Greenlandic and foreign

companies); royalty: 5.5% (mining)

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MANIITSOQ PROPJECT – SW GREENLAND

Located on the southwest coast of Greenland, which

is free of pack ice allowing for year round shipping

Modern, well serviced container ports and European

standard logistical support and coastal re-supply

services

Nearest nickel processing facility Vale’s Long

Harbour Processing Plant (LHPP) in Newfoundland

Long Harbour is a state-of-the-art hydrometallurgical

plant designed to process concentrate into finished

nickel and associated copper and cobalt products.

Maniitsoq harbour looking east towards the Maniitsoq project on the mainland

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NON-EXPLORATION DE-RISKING

SIA and EIA

Social and environmental impact studies initiated

INFRASTRUCTURE ACQUISITION AND DEVELOPMENT

SEQI Deepwater Port

SEQI Assignment Agreement signed March 2015

Environmental and technical due diligence completed (Golder, INUPLAN, LNS Greenland)

Power: Small scale hydroelectric option (15-20 Mwh)

SEQI PORT

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Situated on the south boundary of the project

Can accommodate Panamax vessels up to 55,000 tonnes dry weight

Operational most of the year due to limited sea ice cover

Ownership of key infrastructure

Cost-effective logistical hub

and exploration base

Reduced project capital requirements

and time-lines

Full flexibility on working capital

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EXPLORATION

OVERVIEW

District scale property covering 2,985 sq km in SW

Greenland. 100% Owned

75km x 15km Greenland Norite Belt (GNB) hosting

numerous mineralized mafic to ultramafic intrusions

Widespread historic and new Ni-Cu sulphide

occurrences

Imiak Hill Complex site of most intense exploration

prior to 2015

Systematic exploration of the Maniitsoq property

initiated in 2015 and benefits from high percentage of

outcrop and modern geophysical / remote sensing

technologies

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Aug 2011

1st Maniitsoq

Expl. License

Acquired

EXPLORATION HISTORY

2011 2012 2015

Sept - Oct 2011

SkyTEM survey

flown

2012 - 2014

3 Field Programs

VTEM, Surface Geophysics

Drilling: 14,590m

High grade Ni-Cu at IHC & Fossilik and

expansion of zones:

18.6m @ 4.31% Ni & 0.62% Cu (Imiak)

P-004 & P-013 discoveries:

11.0m @ 1.31% Ni & 0.15% Cu (P-013)

32.2m @ 0.59% Ni & 0.18% Cu (P-004)

2015

VTEM, Surface Geophysics

Worldview- 3 Satellite Date

Mapping/Sampling

Drilling: 5,655m

Spotty Hill zone & P-013 expanded

P-032, P-053 & P-059 discoveries:

23.7m @ 1.98% Ni & 0.62% Cu (P-053)

12.2m @ 1.16% Ni & 1.00% Cu (P-059)

13.8m @ 0.79% Ni & 0.27% Cu (P-032)

New geological model and targeting tools

Focus on

Imiak Hill ComplexSystematic Exploration

of Property

2016

Focused

Drilling

Campaign

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DISTRICT SCALE

PROPERTY

MANIITSOQ

0 10

km

SUDBURY

THOMPSON

NICKEL

BELT

Ni mines

Ni mines

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GEOLOGY

Nickeliferous Mafic-Ultramafic Intrusions

Concentrated in a 75 x 15km curvilinear belt

known as the Greenland Norite Belt (GNB)

Norites, leuco-norites, pyroxenites &

peridotites with surface gossans

Mineralized zones comprising multiple

styles of sulphides

Age dates of ~ 3.0 Ga

Country Rocks

Archean paragneiss, amphibolite and

orthogneiss, younger granitic intrusions

Strongly deformed & metamorphosed

Nickel sulphide occurrence

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MANIITSOQ STYLE OF SULPHIDE MINERALIZATION

MQ-15-075, Spotty Hill

Massive sulphides

Semi-massive sulphides

Breccia sulphides

Veins/fracture fillings

Blebby

Disseminated

Barren host rock

Sulphide

Legend:

Massive

Sulphide

Vein

Disseminated

Blebby

Fracture

filling

Breccia

Vein

236.4m

0.99% Ni

237.1m

2.10% Ni

238.2m

1.56% Ni

239.4m

6.28% Ni

240.0m

1.20% Ni

243.4m

0.94% Ni

Semi-

massive

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MANIITSOQ SULPHIDE MINERALOGY

MQ-14-037, Imiak Hill11.03 m @ 3.07% Ni, 0.53% Cu, 0.08% Co Incl. 3.25 m @ 6.48% Ni, 0.29% Cu, 0.17% Co

Consistent sulphide mineralogy from prospect to prospect

Pyrrhotite (Po), pentlandite (Pn), chalcopyrite (Cp) and pyrite (Py)

Nickel primarily in pentlandite (>90%)

Pn

Po

Py

Cp

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NICKEL DEPORTMENT – QEMSCAN STUDIES

Majority of nickel resides in pentlandite:

95.5 to 96.3% of all the nickel in the IHC samples

90.1 to 93.1% of all nickel in the regional samples

Total potentially floatable pentlandite ranges from:

96.3 to 97.6% in the IHC samples

96.1 to 97.2% in the regional samples

QEMSCAN Image, P-30

Source: In-house Reports for NAN by SGS Lakefield Research Limited (June 2013 & Feb. 2015). See NAN website.

Scale bar = 1mm

Results from IHC and regional samples support potential for high Ni recoveries

using conventional mineral processing methods:

QEMSCAN Image, Imiak Hill

EXPANDED EXPLORATION DATABASE

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Completed VTEM coverage over GNB in 2015

Geochemical samples collected from norite

intrusions throughout GNB

Acquired high resolution, multi-spectral

Worldview-3 satellite data over entire property

State-of-the-art, satellite launched in 2014

0.3 cm pan band

1.2 m visible and near infrared bands (8)

7.5 m shortwave infrared bands (8)

Potential to vastly improve mapping detail

Valuable exploration targeting tool

Iterative, long life dataset

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WIDESPREAD NICKEL MINERALIZATION AND NEW DISCOVERIES

IHC: Spotty Hill zone extended 80m down plunge

NAN regional discoveries: P-004, P-013,P-032,

P-053 and P-059

Significant new drill intersections in 2015: *Ni Eq

Spotty Hill (IHC)

MQ-15-075 15.55m @ 1.06% Ni, 0.24% Cu, 0.31 g/t TPM, 1.35% Ni Eq

incl. 6m @ 1.77% Ni, 0.23% Cu, 0.46 g/t TPM, 2.17% Ni Eq

P-013

MQ-15-079 10.65m @ 1.03% Ni, 0.39% Cu, 1.34% Ni Eq and

5.25m @ 1.15% Ni, 0.18% Cu, 1.35% Ni Eq

MQ-15-094 25.10m @ 0.57% Ni, 0.15% Cu, 0.70 Ni Eq incl.

1.15m @ 2.11% Ni, 0.27% Cu, 0.31 g/t TPM, 2.51% Ni Eq

11.95m @ 0.94% Ni, 0.44% Cu, 0.10 g/t TPM, 1.24% Ni Eq

P-032

MQ-15-090 13.8m @ 0.79% Ni,0.27% Cu, 1.0% Ni Eq incl.

1.5m @ 2.47% Ni, 0.69% Cu, 0.23 g/t TPM, 3.08 % Ni Eq

P-053

MQ-15-082 23.7m @ 1.98% Ni, 0.62% Cu, 0.19 g/t TPM, 2.56% Ni Eq incl.

12.2m @ 2.78% Ni, 0.36% Cu, 0.26 g/t TPM, 3.35% Ni Eq

P-058

MQ-15-077 21.5m @ 0.55% Ni, 0.27% Cu, 0.75% Ni Eq

P-059

MQ-15-078 12.15m @ 1.16% Ni, 1.00% Cu, 0.27 g/t TPM, 1.8% Ni Eq

Historic nickel occurrences

NAN discoveries and mineralized

norite with new drill intersections

TPM = Pt+Pd+Au

* Ni Eq: See news release dated November 25, 2015

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IMIAK HILL COMPLEX (IHC)

TPM = Total Precious Metals (Pt+Pd+Au)

MQ-13-029:

9.99 m @ 4.65% Ni, 0.33% Cu

MQ-14-073:

61.35 m @ 0.63% Ni, 0.18% Cu

Incl. 6.56 m @ 1.59% Ni, 0.22% Cu

MQ-14-062:

66.00 m @ 0.61% Ni, 0.16% Cu, 0.22 g/t TPM

Incl. 8.55 m @ 2.98% Ni, 0.59% Cu, 0.86 g/t TPM

MQ-14-072 (Zone 10):

16.35 m @ 2.51% Ni, 0.77% CuMQ-13-026 (Zone 30):

18.62 m @ 4.31% Ni, 0.62% Cu

(See slide 25 for commentary on significant technical information)

MQ-15-075:

15.55 m @ 1.06% Ni, 0.24% Cu, 0.31 g/t TPM

Incl. 6m @ 1.77% Ni, 0.23% Cu, 0.46 g/t TPM

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2015 DRILLING HIGHLIGHTS

P-059: MQ-15-078

12.15m @1.16% Ni, 1.00% Cu

& 0.27 g/t TPM, 1.80% Ni Eq

P-013: MQ-15-079

10.65m @ 1.03% Ni, 0.39 Cu, 1.34% *Ni Eq

P-058: MQ-15-077

21.5m @ 0.55% Ni, 0.27% Cu, 0.75% Ni Eq

P-053: MQ-15-082

23.7m @ 1.98% Ni, 0.62% Cu & 0.19 g/t TPM, 2.56% *Ni Eq

Spotty Hill: MQ-15-075

15.55m @ 1.06% Ni, 0.24% Cu & 0.31 g/t TPM, 1.35% *Ni Eq

* Ni Eq: See news release dated November 25, 2015

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MANIITSOQ CHECKLIST

Stable, pro-mining jurisdiction

Evidence of a large magmatic event (GNB)

Widespread nickel, district scale potential

Good nickel grades and tenor

> 90% nickel in pentlandite

Opportunity for non-exploration de-risking

Experienced team

Committed institutional investors

√

√

√

√

√

√

√

√

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NEXT STEPS

Follow-up Drilling at Mineralized Zones

P-013, P-030/32, P-053, P-058, P-059, P-004, Spotty Hill

Detailed mapping, 3D modeling & surface geophysics to aid in drill hole targeting

Continued Systematic Exploration

Wordview-3, VTEM, geochemical data mapping to aid in property scale targeting

Property scale targeting and expansion of known mineralized norite trends

Drill testing of regional exploration targets

Non-Exploration De-risking Activities

Social and environmental impact studies

SEQI port opportunity

Advanced power solutions

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Scientific and Technical Information

Qualified Person

All technical information in this document has been reviewed by Patricia Tirschmann, P.Geo, V.P. Exploration, North American

Nickel Inc., who is the Qualified Person for the Company.

Further Information

For further information about the full results from assays described herein, please see the press releases of the Company dated

November 10, 2015 titled “North American Nickel Reports Final Assays”; October 20, 2015 titled “North American Nickel Reports

New Nickel Sulphide Intersections at P-032 Target”; September 23, 2015 titled “North American Nickel Inc.: Discovery of High

Grade Nickel Sulphides in Southern Coastal Zone”; September 2, 2015 titled “North American Nickel Inc.: Spotty Hill Zone

Extended and New Nickel-Copper Mineralization Intersected at P-059”; November 17, 2014, titled "North American Nickel

Reports High Grade Nickel Sulphides at Imiak Hill"; October 20, 2014, titled "North American Nickel Reports Assays of 2.98% Ni,

0.59% Cu & 0.86 g/t PGM Over 8.55 Metres at Spotty Hill"; October 23, 2013, titled “North American Nickel Inc.: Discovery of

High Grade Nickel Sulphide Mineralization at Imiak Hill; October 10, 2013, titled “ North American Nickel Inc.: High Grade

Nickel-Copper-Cobalt Sulphides Confirmed at Imiak Hill;

Historic Data

Certain historic drilling data is summarized in this document. This data related to surface nickel occurrences in drilling

conducted between 1959 and 1973 (Kryolitselsabet Øresund A/S Prospektering, Report on the Exploration Work in Søndre

Isortoq Area, 1968 by J. Kurki and S. Turkka, GEUS Report File no. 20158). The Company has reviewed this prior work and

believes that it continues to be relevant and reliable as an indication of the potential for ongoing exploration efforts, but notes

that it does not constitute current drilling reporting and will be replaced entirely by drilling underway, including that recently

completed and referenced in this document.

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Contact Info: North American Nickel Inc.

500 – 200 W. Esplanade

North Vancouver, BC, Canada V7M 1A4

Phone: +1 604-986-2020

Fax: +1 604-986-2021

Toll Free: 1-866-816-0118

info@northamericannickel.com

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EXPLORATION HISTORY (GNB) 1959 - 2000

1959 – 1973: Kryolitselskabet Øresund (KØ)

Systematic prospecting from the air, shallow-looking

surface geophysics (< 50m) and diamond drilling (avg. <55 m)

Surface nickel occurrences and nickel intersections in drilling:

Fossilik II: 12.89m @ 2.24% Ni & 0.63% Cu

Imiak Hill: 9.85m @ 2.67% Ni & 0.60% Cu

Quagssuk: 4.95m @ 1.97% Ni & 0.43% Cu

No airborne EM, modern ground EM surveys

or borehole EM

1995: GEUS

Commissioned Geoterrex to fly fixed wing GeoTEM survey

1995 – 1996: Cominco

ground follow-up of airborne EM picks

limited ground geophysics

1996 – 1998: Platinova and Monopros

Diamond exploration incl. DIGHEM survey

1999 – 2000: Falconbridge Limited

Prospecting & re-analysis of historical

drill core to confirm high grade assays and

establish nickel tenors

Limited ground geophysics

No drilling by either Cominco or Falconbridge= Selected Ni-Cu occurrence= Ni-Cu occurrence

(See slide 25 for information about historical findings)

Appendix 1

28

GEOLOGICAL

EVENTS

AND

SETTING

Appendix 2

(From SRK Consulting (Canada) Inc.

In-house Report, 2015)