Ivernia Special Meeting Presentation

SPECIAL MEETING OFSHAREHOLDERS

OCTOBER 28, 2015

Responsibly Lead

FORWARD LOOKING STATEMENTS

Certain statements contained in this Presentation constitute forward-looking information within the meaning of securities laws. All statements included herein (other than statements ofhistorical facts) which address activities, events or developments that management anticipates will or may occur in the future are forward-looking statements, including statements asto the following: the timing and length of care and maintenance and future sales, the transaction, the timing of the implementation of the transaction and the potential benefits of thetransaction, the likelihood of the transaction being completed, principal steps of the transaction, statements relating to the business and future activities of, and developments relatedto, Ivernia and Geo Zone Exploration Limited (“Geo Zone”) and their subsidiaries after the date of this Presentation and before the closing of the transaction and to and of Ivernia afterthe closing of the transaction, including the development of lead and silver assets, Ivernia shareholder approval of the transaction, final Toronto Stock Exchange approval of thetransaction; the Company's intention to change its name to “LeadFX Inc.”, the Company's intention to complete the share consolidation the market position and future financial oroperating performance of Ivernia, and the liquidity of Ivernia common shares following the closing of the transaction and completion of the share consolidation, any results oroutcomes of the strategic review, any alternative transaction undertaken, future targets and estimates for production and sales, the Company’s ability to meet its working capitalneeds and debt repayments in the near term, the circumstances or timing and costs surrounding a restart of the Mine, projections with respect to cash flows and working capital,forbearance by our lenders pursuant to the Sprott Resources Lending Partnership and Enirgi Group Corporation forbearance letters, the receipt of required additional financingrequirements to operate and restart the Paroo Station Mine (the “Mine”), the cost and timing for completion of capital projects necessary for any future operations, the Company’sability to comply with the transportation and operating conditions for the Mine, capital expenditures, operating costs, cash costs, Mineral Resources, Mineral Reserves, life of mine,recovery rates, grades and prices, business strategies and measures to implement such strategies, competitive strengths, estimated goals and plans for Ivernia’s future businessoperations, lead market outlook and other such matters. Forward-looking statements are often, but not always, identified by the use of words such as ‘‘seek’’, ‘‘anticipate’’,‘‘contemplate’’, ‘‘target’’, ‘‘believe’’, ‘‘plan’’, ‘‘estimate’’, ‘‘expect’’, and ‘‘intend’’ and statements that an event or result ‘‘may’’, ‘‘will’’, ‘‘can’’, ‘‘should’’, ‘‘could’’ or ‘‘might’’ occur or beachieved and other similar expressions. These statements are based upon certain reasonable factors, assumptions and analyses made by management in light of its experience andperception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. However,whether actual results and developments will conform with management’s expectations is subject to a number of risks and uncertainties, including factors underlying management’sassumptions, such as, the ability of Ivernia to complete the transaction, the ability of Ivernia to satisfy conditions under the merger agreement and the conversion agreement, theability of Ivernia to satisfy the requirements of the Toronto Stock Exchange such that it will issue the final Exchange bulletin, the ability of Ivernia to successfully integrate Ivernia andGeo Zone and manage risks, the existence of undetected or unregistered interests or claims over the property of Geo Zone, expected concentrate sales when in operations, the costsand other capital expenditures required to maintain operations and transportation, the timing, need and ability to raise additional financing and the risks relating to ramping up miningand milling throughput and operations, funding requirements, operations being placed on care and maintenance, the restart of mining and milling operations, matters relating toregulatory compliance and approvals, shareholder dilution, matters relating to public opinion, presence of a majority shareholder and Management Services Agreements, mattersrelated to the Esperance settlement and shipments through the Fremantle port, regulatory proceedings and litigation and general operating risks such as metal price volatility, leadcarbonate concentrate treatment charges, exchange rates, the fact that the Company has a single mineral property, health and safety, environmental factors, mining risks, metallurgy,labour and employment regulations, government regulations, insurance, dependence on key personnel, constraints on cash distribution from the Mine, the nature of mineralexploration and development and common share price volatility. Forward-looking statements and other information contained in this Presentation concerning the lead and silverindustries and our general expectations concerning the lead and silver industries are based on estimates prepared by us using data from publicly available industry sources as well asfrom market research and industry analysis and on assumptions based on data and knowledge of these industries which we believe to be reasonable. However, this data is inherentlyimprecise, although generally indicative of relative market positions, market shares and performance characteristics. While we are not aware of any misstatements regarding anyindustry data presented in this Presentation, the lead and silver industries involves risks and uncertainties and is subject to change based on various factors. Additional factors andconsiderations are discussed in the annual information form dated March 10, 2015, management information circular September 14, 2015 and elsewhere in other documents filedfrom time to time by Ivernia with Canadian securities regulatory authorities. While Ivernia considers these assumptions to be reasonable based on information currently available to it,they may prove to be incorrect. These factors may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and there canbe no assurance that the actual results or developments anticipated by management will be realized or, even if substantially realized, that they will have the expected results on theCompany. Undue importance should not be placed on forward-looking information nor should reliance be placed upon this information as of any other date. Except as required bylaw, while it may elect to, Ivernia is under no obligation and does not undertake to update this information at any particular time.

All statements, opinions and views contained in this Presentation are solely those of Ivernia Inc. and/or Rosslyn Hill Mining Pty Ltd. and do not constitute any written or public oralstatement of Enirgi Group Corporation or any other third party.

October 28, 2015 Ivernia Special Meeting of Shareholders 2

IVERNIA-101Wayne Richardson, President & CEO

IVERNIA-101

TIGHT CASH FLOW

• No diversification

• Success dependent on demand for a single commodity• Long term price downturns jeopardize viability of operation

• Increased operating risk • Deters investment from strategic partners

• Company name associated with historical difficulties

• No alternative revenue streams

SINGLE ASSET MINING COMPANY

TIED TO SINGLE COMMODITY

STRICT OPERATING CONDITIONS

CHECKERED HISTORY

THE SIMPLE FACTS


GLOBAL HEADWINDS…


IVERNIA-101

DEPRESSED LME LEAD PRICE

RISING TREATMENT CHARGES

WEAKENING DEMAND (CHINA/EUROPE)

• Average lead price $1,714 VS $2,183 per tonne (3 months ended Sept 30, 2015 vs same period in 2014)

• Recorded a 25% increase in TCs year over year (Q1 2014 to Q1 2015)

ADVERSE MARKET DYNAMICS

• Demand for e-bike has slowed and vehicle markets have tapered, slower telecoms industrial battery business as 4G rollout fades and lithium-ion makes some inroads into lead-acid’s dominance

• Prolonged period of surplus in lead leaving a legacy of excess stocks that need to be run down


PLUS…


IVERNIA-101

RESOURCES -18%DECREASE REPORTED IN NEW TECHNICAL REPORT

RESERVES -54%DECREASE REPORTED IN NEW TECHNICAL REPORT

LIFE OF MINE -4 YEARS**COMPARED TO MARKET ASSUMPTIONS IN THE 2011 TECHNICAL REPORT

UPDATED TECHNICAL RESULTS


AND LAST BUT CERTAINLY NOT LEAST…


IVERNIA-101

NO BIDS FOR COMPANY OR MINE • An extensive strategic review produced no bids for the Company or the Asset

IDLE RESOURCE BURNING CASH • The operation has been in Care and Maintenance since January 2015 with no revenue stream

DEFAULT ON LOANS • The Company triggered events of default, and moratoriums on repayments would expire mid-Nov, 2015

FINANCIAL HARDSHIPS


THE SIMPLE FACTS OF BEING IVERNIA

+

+

=

ADVERSE MARKET DYNAMICS

UPDATED TECHNICAL RESULTS

ONE SERIOUS PROBLEM

+FINANCIAL HARDSHIPS


MANAGEMENT-101

SO WHAT DID MANAGEMENT DO?


MANAGEMENT-101

Since the new management team has come on board, we have worked to assemble a frameworkfor Ivernia to operate successfully.

One by one, our plans were executed and strategic changes made in order to deliver a completeturn-around.

Management’s original objectives were to:

•RECONSTRUCT THE COMPANY

•RESTORE OUR REPUTATION

•DELIVER COST DOWN AND OPERATIONAL IMPROVEMENTS


MANAGEMENT-101

SCORECARD

Management successfully:

Repaired relationships with key stakeholders and regulators Restarted the mine on March 28, 2013 Implemented new bagging and transportation protocols Improved operational efficiencies Executed a comprehensive cost-down program, resulting in a minimum cost base Delivered major projects on time and on budget (gas, camp services, NI 43-101) Delivered guidance, quarter over quarter (production and sales) Set new quarterly production and sales records Set new yearly production records (2014 = best production year on record for the mine) Improved recoveries and head grades (Avg 2014 recovery rate 79% vs 74.6% in 2013) Renegotiated loans with key lenders to extend due date for payments


MANAGEMENT-101

• A SINGLE ASSET COMPANY• TIED TO A SINGLE (DEPRESSED)

COMMODITY PRICE• WITH A SINGLE REVENUE STREAM


Despite the achievements…

WE COULD NOT ESCAPE THE REALITY OF BEING:

SO WHAT CAN WE DO?

MANAGEMENT-101:EVOLVE, OR DIE


EVOLUTION STARTS HERE[ ]


Following an unsuccessful search for a realistic buyer or investor for theIvernia assets, the management team crafted an innovative solution to:

Restructure the Company

Avoid a potential bankruptcy event

Remove structural problems (single asset, single commodity, single revenuestream)

Create a new future for both the Company and our valued shareholders

Broaden the Company’s commodity focus to include development of LEAD ANDSILVER assets, through the prospective Chief lead-silver deposit in Utah andpotential future mineral property acquisitions


Non-binding letter of intent signed by Ivernia and Geo Zone on July 21 Written TSX approval for transaction received September 16 RPA completed CIMVal standard valuation of Geo Zone in August with final report

showing a valuation range of US$26M - US$40M Geo Zone shareholder meeting held on October 8; strong support from all

shareholders Ivernia shareholders will vote on the proposed transaction; and majority

shareholders have already provided written support

The innovative solution involves bringing together complementary assets andcreating a debt-reduced, cash flow business with advanced projects:


A proven management team with extensive experience within the primary leadsector

One operation that is ready for immediate restart

One project that is pre-feasibility study ready

Both projects are located in stable jurisdictions (Australia & USA)

A technology advantage through leveraging Enirgi’s proven Innovation Divisioncapabilities and existing relationships in primary and secondary smelting

Expected secondary cash flow from industrial minerals

Significantly reduced debt load

COMBINING IVERNIA AND GEO ZONE INTO A NEW VEHICLE, LEADFX INC.,WILL CREATE A MINING COMPANY WITH:


CHINESE GROWTH SLOWING BUT CONTINUING POSITIVE DEMAND OUTLOOK

China is moving from a investment/construction driven economy to a consumer-ledeconomy

Car ownership in China is below 89 vehicles per 1,000 people compared to US levels of800/1,000; growth in automobile ownership will continue to support lead demand

Barclays1 are forecasting CAGR 3% Chinese lead demand growth to 2020

(1) Source: Barclays Commodities Research “China’s Commodity Demand” March 19, 2015;(2) Morgan Stanley Research “Global Metals Playbook 2Q 2015” March 24, 2015.

LEAD MARKET OPPORTUNITY – KEY DRIVERS FOR DEMAND

EUROPE SHOWING FIRST SIGNS OF GROWTH

Morgan Stanley noted in their 2Q 2015 Metals Playbook2 that the “Eurozone’s macrodata continues to improve, indicating a strengthening recovery”

Growth continues to be fragile and subject to economic discipline from EU members


GLOBAL AUTOMOBILE OWNERSHIP CONTINUES TO GROW

The global automobile fleet continues to grow which is increasing lead demand forbatteries

Also fueling increasing secondary lead supply from battery recycling

ANALYST FORECASTS FOR GLOBAL LEAD DEMAND GROWTH ARE CAGR 2.5-3.5% TO 2020(1)

(1) International Lead & Zinc Study Group “Review of the current Lead and Zinc situation & Outlook for 2015” April 23, 2015.

LEAD MARKET OPPORTUNITY – KEY DRIVERS FOR DEMAND


Source: Publically available information from Corporate Websites; Wood Mackenzie “Global Lead Short Term Outlook” May 2015

LEAD PRICES WILL NEED TO INCREASE TO ENCOURAGE OLD MINES TO LINGER AND NEW MINES TO DEVELOP TO FILL THE INEVITABLE SUPPLY SHORTAGE

BEYOND 2020

CONFIRMED 2015 CLOSURES

NO REPLACEMENT LARGE LEAD MINES APPROVED

30 years of no lead-targeted exploration will impact supply in the next 5-10 years Dugald River, Australia is the only project planned which will produce more than 50ktpa Analyst supply-demand balances include Paroo Station mine restart

Century mine, Australia – 50ktpa

Lisheen mine, Ireland – 20ktpa

SEVERAL OF THE WORLD’S LARGEST LEAD MINES WILL SHRINK OR CLOSE BY 2020

Cannington, Broken Hill, Rosebery, Mount Isa (excluding Lady Loretta) – all in Australia Red Dog, USA; Tara, Ireland; Black Mountain, RSA; Pomorzany-Olkusz, Poland

LEAD MARKET OPPORTUNITY – KEY DRIVERS FOR SUPPLY


MANAGEMENT’S OBJECTIVE IS TO REORGANIZE THESE BUSINESSESTO CREATE LEADFX AS A SUSTAINABLE GROWTH COMPANY:

Preparing a restart plan for Paroo Station mine in WA, subject to marketconditions including, prevailing metal prices, TCs, availability of financing, andregulatory approvals

Preparing submissions to streamline operating conditions for the Paroo Stationmine, consistent with good sustainable practice

The EPA debts of Chief have been fully addressed and the liens lifted

Opportunity to mine industrial minerals that could produce near-term cash flows


LEADFX will be uniquely positioned to consolidate “orphaned” assets tobecome a low-risk, well managed, long-term supplier of lead and silverconcentrates

While future growth will depend on market conditions, a fully-fundedLEADFX can target a diversified production profile through internal growthand mineral project acquisitions


IN SUMMARY, WE CHOSE TO EVOLVE AND WE SEEK YOUR CONTINUED

SUPPORT


Ivernia Special Meeting Presentation

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