Kun-Manie Nickel Sulphide DepositCorporate Investor Presentation

March 2019

The information contained in this confidential document (“Presentation”) has been prepared by Amur Minerals Corporation (the "Company"). It has not been fully verified and issubject to material updating, revision and further amendment. This Presentation does not constitute or form part of, and should not be construed as, an offer for sale or subscriptionof, or solicitation of any offer to purchase or subscribe for, any shares in the Company nor should it form the basis of, or be relied on in connection with any contract or commitmentwhatsoever. This Presentation has not been approved by any of the Company’s professional advisers, nor by any authorised person pursuant to Section 21 of the Financial Servicesand Markets Act 2000 and therefore it is being delivered for information purposes only to a very limited number of persons and companies who are persons who have professionalexperience in matters relating to investments and who fall within the category of person set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion)Order 2005 (the "Order") or are high net worth companies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it. Any other person whoreceives this Presentation should not rely or act upon it. By accepting this Presentation, the recipient represents and warrants that they are a person who falls within the abovedescription of persons entitled to receive the Presentation. This Presentation is not to be disclosed to any other person or used for any other purpose.

While the information contained herein has been prepared in good faith none of the Company nor any of its shareholders, directors, officers, agents, employees or professionaladvisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of theinformation in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all suchinformation being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers,agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, inrespect of the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoeverarising, from the use of this Presentation.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the rightis reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expensesincurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide therecipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent.

Certain forward looking statements may be contained in the presentation which include, without limitation, expectations regarding metal prices, estimates of production, operatingexpenditure, capital expenditure and projections regarding the completion of capital projects and pre feasibility studies as well as the financial position of the company. AlthoughAmur believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be accurate.Accordingly, results could differ from those projected as a result of, among other factors, changes in economic and market conditions, changes in the regulatory environment andother business and operational risks.

Neither this Presentation nor any copy of it may be (a) taken or transmitted into Australia, Canada, Japan, the Republic of Ireland, South Africa or the United States of America, theirterritories or possessions; (b) distributed to any U.S. person (as defined in Regulation S under the United States Securities Act of 1933 (as amended)) or (c) distributed to anyindividual outside Australia, Canada, Japan, the Republic of Ireland or South Africa who is a resident thereof in any such case for the purpose of offer for sale or solicitation orinvitation to buy or subscribe any securities or in the context where its distribution may be construed as such offer, solicitation or invitation, in any such case except in compliancewith any applicable exemption. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession thisdocument comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of therelevant jurisdiction.

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Disclaimer

Overview

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Company Overview

The Right Project…• Amur is developing the Kun-Manie project, the largest undeveloped and drill proven nickel copper sulphide deposit in

Asia with a JORC Mineral Resource Estimate containing 155.1 million ore tonnes comprising a nickel equivalent grade of1.02%, equating to a total of 1.58 million equivalent tonnes of nickel

• PFS released in February 2019 reinforcing the Project’s technical and economic viability, highlighting a three yearconstruction period and a 15 year production period with upside potential to extend the LOM

• Two production scenario’s• TS Option – Total post tax free cashflow of $2,041 million• FFS Option - Total post tax free cashflow of $2,980 million

…The Right Location…• Located in the Far East of Russia, close to China’s north east border, with ready access to the key nickel and copper

markets of China, Japan and Korea via Sea (Vladivostok) and Land (Rail)

• Highly skilled management team with experience operating in Russia and the Far East

…The Right Time• Nickel demand set to dramatically grow as nickel is a non-substitutable and essential commodity for the Electric Vehicle

(EV) battery market accounting for up to 80% of the raw materials in NCA batteries

• On track to be one of the world’s top-10 nickel producers arriving in a period of chronic nickel supply deficits

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Board

Robert SchaferNon-Executive

Chairman

Mr. Schafer has nearly42 years ofexperience in themineral industry.Founder andManaging Director ofEagle MinesManagement, aglobally active privatenatural resourcescorporation.

Robin YoungChief Executive Officer

Mr. Young is ageological engineerwho has workedextensively in the CISsince 1991. He has 41years of experienceincluding large scaleprojects in remoteareas as well assignificant work withjunior miningcompanies.

Brian SavageNon-Executive Director

Mr. Savage has morethan 37 years ofexperience in all aspectsof the mining industry.Currently Chairman ofSage Management LLC,a privately heldcompany he founded toadvise and invest innatural resourceprojects and companies.

Paul GazzardNon-Executive Director

Mr. Gazzard, who hasacted as an externaladviser to Amur for fouryears, has over 12 yearsof experience workingacross large institutionsin the City of London inhis role as a FundManager.

Ljupco NaumovskiNon-Executive Director

Mr. Naumovski hasmore than threedecades of experienceworking in Russia, mostrecently as VicePresident and GeneralDirector of the Moscowoffice for Kinross GoldCorporation, the largestCanadian investor inRussia.

Strong and experienced Board with a track record in Russia

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Exchange Ticker Share Price*

AIM AMC 2.9p

Market Cap* 52 Week Range Shares in Issue

£ 20.45M 2.5p – 5.8p 705,333,094

Key Shareholders* Share price graph (September 2018 to March 2019)

* As of 06 March 2019

Corporate Overview

7.81%

16.35%

5.16%

11.68%

26.43%

3.62%4.09%

3.88%

3.67%

0.73% 16.59%

BARCLAYSHARE NOMINEES LIMITEDHARGREAVES LANSDOWN (NOMINEES)HSBC CLIENT HOLDINGS NOMINEE (UK)HSDL NOMINEES LIMITEDINTERACTIVE INVESTOR SERVICESJIM NOMINEES LIMITEDLAWSHARE NOMINEES LIMITEDVIDACOS NOMINEES LIMITEDWEALTH NOMINEES LIMITEDDIRECTORS / EXECUTIVESOTHER SHAREHOLDERS

KUN-MANIEThe right project in the right location…

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A Globally Significant Nickel Sulphide Project

Nickel Sulphide projects with >20Kt p.a. likely to come into production over the next five years

• Kun-Manie Project is one of the highest grade, undeveloped nickel sulphide deposits globally, capable of supplying significant quantities on a yearly basis

• Only new nickel sulphide asset of any significance in Asia

• Limited number of global projects scheduled to come into production to meet forecast nickel demand, making Kun-Manie an essential asset to develop

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• Kun-Manie Project is close to

major nickel markets

• Direct access to China through

existing rail infrastructure

• Proximity to Vladivostok port

allows shipment of product to

China, Japan and Korea, large

users of nickel products

• Opportunity to deliver into

Europe via rail to St

Petersburg

Strategically Placed to Feed Major Markets

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Located In An Established Mining Area

• Amur region is home to London listed Petropavlovsk’s gold operations, with four mines close to the Project

• The Kun-Manie Project will benefit from established road and rail infrastructure with direct routes to China

and internally through Russia via the Baikal-Amur and Tran Siberian rail lines

• Amur region is well known to commodity traders and has established logistics routes

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Attractive PFS

• JORC Mineral Resource Estimate containing 155.1 millionore tonnes comprising a nickel equivalent grade of 1.02%,equating to a total of 1.58 million equivalent tonnes ofnickel

• A three year construction period and a 15 year productionperiod with upside potential to extend the life of mine

• Production will derive from four open pits and oneunderground mining operation

• Two production scenario’so TS Option - Toll Smelt option which provides the swiftest

path to revenue generation, where the concentrate is soldto a purchaser

o FFS Option - where the Company constructs and operatesan electric furnace / flash smelter converting theconcentrate to a low grade matte which allows for thecapture of additional revenues from the by-productmetals of copper, cobalt, platinum and palladium

• Low cost operations:o C1 costs within the second lower quartile for all nickel

producers TS Option estimated $3.87 per pound of payable

nickel FFS Option estimated $2.34 per pound including

additional by-product revenues

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

TS Option $3.10 $3.14 $3.28 $3.88 $3.64 $4.17 $4.37 $4.06 $4.40 $5.10 $4.33 $4.38 $3.97 $3.56 $2.83

FFS Option $1.75 $1.74 $1.95 $2.76 $2.22 $2.73 $2.96 $2.64 $3.01 $3.46 $2.72 $2.80 $2.48 $2.10 $1.62

0

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C1 N

icke

l Cas

h Co

st (U

S$/lb

)

Year

Annual C1 Nickel Cash Cost

Nic

kel C

ash

Cost

(US$

/lb)

Paid Nickel (kt)

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

0.0

25% 50% 75%

324 648 971 1,295

TS OPTION (US$3.87/lb)

FFS OPTION (US$2.34/lb)

2018 Nickel Cash Cost Curve

Source: SNL Market Intelligence

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• NPV post-tax at 10% discount rate of $614.5 million using a long-term nickel price of $8.00 per pound

• Post tax IRR of 29.3%• Total post tax free cashflow of $2,041 million• Pre-production capital expenditure of $570.4 million with a payback period of three

years

TS Option

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• NPV post-tax at 10% discount rate of $987.4 million using a long-term nickel price of $8.00 per pound

• Post tax IRR of 34.7%• Total post tax free cashflow of $2,980 million• Pre-production capital expenditure of $695.0 million with a payback period of three

years

FFS Option

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Kun-Manie Process Flowsheet

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Strategic Development

The robust PFS puts Amur and the project in an attractive position for the Company tocontinue its strategic plan and identify partnerships that will add to, and complement,the Company’s existing experience and influence in order to bring Kun-Manie intodevelopment.

• Construction of a one lane access road capable of lasting 30 years

• The initial road design was begun in February 2019

• Capital cost included in the PFS• Engagement of Strategic Partner

• Process underway • Supported by delivery of PFS• Enhance existing expertise to

help drive shareholder value

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Asia’s Largest Undeveloped Nickel Copper Sulphide Deposit

Resource Classification

Ore Ni Cu Co Pt Pd Eq Ni Ni Cu Co Pt Pd Eq Ni

Mt % % % g/t g/t (%) (1000’s t) (1000’s t) (1000’s t) (t) (t) (1000’s t)

Measured 11 0.7 0.2 0.01 0.2 0.3 0.99 80 20 1.3 3 3 111

Indicated 107 0.7 0.2 0.02 0.2 0.2 1.00 787 217 16.2 16 17 1,075

M+I 118 0.7 0.2 0.02 0.2 0.2 1.00 867 237 17.5 19 20 1,186

Inferred 37 0.8 0.2 0.02 0.2 0.2 1.08 290 81 6.0 6 7 398

TOTAL 155 0.8 0.2 0.02 0.2 0.2 1.02 1,157 319 23.5 25 18 1,582

• Following the successful drill programme in 2018 there are substantial upside opportunities including:

• Increase in the Mineral Resource Estimate

• Expansion of the mine life based on Mining Ore Reserve increases

• Optimisation of a production schedule to move higher revenue material forward allowing for enhanced early cash

flow during the first 10 years of production when reduced Metals Royalty and Net Profits Tax are available

• Metallurgical test work to reduce the magnesium oxide content for which penalty fees are applied during smelting

• The potential to generate a separate copper concentrate stream providing copper stream revenues

• Negotiate improved off take agreement terms

• Define Russian government low cost loan considerations for the access road

Kun-Manie Resource Estimate

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2018 Drill Programme

• A two-stage programme

• Completed 32,526.5 m of drilling within 169 drill holes located throughout themining licence area, bringing the total drilled metres to 117,343.7 m within 656diamond core drill holes

• Newly discovered mineralisation located adjacent to IIHG, ISK and western areaof KUB has been drill identified based on spacing of 100 m by 100 m

• As much as 30 million tonnes of existing Inferred resource may have beenconverted to Indicated and the potential to increase the mineral resourceinventory by up to an additional 25 million tonnes should materially impact theestimated mineral resource of the project

• Anticipate that the two of the PFS pits located at IKEN and KUB may merge intoone large pit, covering a strike length of more than four kilometres

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Moving Towards Development

Detailed Engineering

DRILLING RESULTS MI&I

PRE-FEASIBILITY STUDY

DEFINITIVE FEASIBILITY STUDY

2021 – DEVELOPMENT

2023 – START-UP PRODUCTION

AMUR MINERALS

KUN-MANIE

PROJECT

2007 Ni-341,000tn, Cu-95,500tn 2008

2014

20092010

20112012 Ni-650,600tn, Cu-178,400tn

2013

201520162017 Ni-769,000tn, Cu-206,000tn, Co-15,000tn

LICENCED UNTIL 2035

Finalised Q1 2019

Outotec & RPM extended

Concentrate or matte being assessed

2018 Ni-1,157,000tn, Cu-319,000tn, Co-23,500tn Pt-25tn, Pd-18tn

Infrastructure & Environmental Work

Metallurgical Work

CONSTRUCTION START

2023

2022

ONGOING

TEO Submitted

TEO Approved

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Project De-Risking to Drive Further Value

Pre-Feasibility Study released in February 2019Confirms attractive economics and viability of Kun-Manie

Ongoing conversations with industry players Amur to target EV battery manufacturers and nickel supply chain participants

Discussions underway with international lendersSignificant appetite to provide project finance debt for construction of Kun-Manie Project

Production scheduled to come online during rising demand for nickel sulphide product

Project optimisation

Offtake

Financing

Production

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NICKEL MARKET…at the right time

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The Prospect for Nickel – An Electric Vehicle (EV) Demand Driven Market

• Environmental benefits are fuelling a dramatic rise in mass EV adoption globally• Lithium, cobalt and graphite prices have spiked on their role in EV, but the role of nickel in EV battery Cathodes

has so far not yet responded• All current and in development EV batteries will have significant quantities of nickel, making up to between 20-

52% of the battery raw material• Battery makers require high purity nickel to create the sulphates used in the manufacturing of EV battery

cathodes• Nickel sulphide deposits are the best source of battery grade class 1 nickel, however, they only account for

c. 40% of global production (c. 800K of world production in 2017)• To meet the projected demand production, sulphide production would have to at least double over the

next seven years, an unprecedented feat and counter to current trends – a new Kun-Manie every year!• Cathode chemistry is becoming evermore nickel rich as manufactures look to enhance energy density and

combat utilisation of cobalt

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Nickel Forecast – The Only Way Is Up

Sources: Nornickel Group, Reuters, Wood Mackenzie, UBS

• CRU expects a tight nickel market in the short / mediumterm but anticipate a large long term deficit

• CRU estimate 1.79 Mt of additional unallocated supply isneeded to match anticipated demand by 2035

• Nickel demand from batteries is the primary demanddriver and anticipated to grow from 3% of total demandin 2018 to 33.7% by 2035, representing a CAGR of 17.4%

• Wood Mackenzie has the most bullish view of nickelmetal prices projecting them to exceed the US$12/lbmark by 2030

• CRU anticipate a near doubling of todays nickel price by2027 and Consensus Economics estimate to exceedUS$8/lb by 2024

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2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Nic

kel P

rice

(US$

/lb)

Woodmac - nickel CRU - nickel Consensus Economics - nickel

All forecasts predict a rise in the nickel price

over the coming decade

Nickel Price Forecasts

Medium Term Nickel Market Balance, 2015-2023

A tight nickel market in the short / medium term

Large long term deficit predicted

Nickel Metal Supply Gap 2015-2035

1.79 Mt

Source: CRU Consulting; Wood Mackenzie; Consensus Economics

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INVESTMENT CASE

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The Case for Kun-Manie

In development and moving towards BFS

Production scheduled to start at the beginning of a sustained nickel supply requirement

Strong management and Board with experience in project development in Russia

Government support for the project and associated infrastructure

Nickel to be the major component of grid and EV batteries for many years

Nickel price set to rise in line with rising EV demand

No substitution for nickel in EV battery technology

Ideally positioned to supply China, Korea and Japan, the biggest consumers of nickel

LOCATION

The largest proven nickel sulphide deposit in Asia

PFS released in February 2019

•TS Option - post tax NPV(10%) $614.5 million, post tax IRR 29.3%, total post tax free cashflow $2,041 million•FFS Option – post tax NPV(10%) $987.4 million, posy tax IRR 34.7%, total post tax free cashflow $2,980 million

SUPPORTTIMINGSIZE COMMODITY

Contact Us

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Amur Minerals CorporationRobin Young, CEOPaul McKay, CFO

info@amurminerals.com

SP Angel (Nomad & Broker)Lindsay MairSoltan Tagiev

+44 (0) 20 3470 0470

Blytheweigh (PR & IR)Tim BlytheMegan Ray

+44 (0) 20 7138 3203

@amur_minerals

www. amurminerals.com