VOYAGEUR PHARMACEUTICALS LTDFrom the Earth to the Bottle

Building a Fully Integrated API Mineral Based Pharmaceutical Company

Radiographic Contrast Suspension and Injectables Used In X-Ray, MRI, CT Scans

Carbon Based Fullerene Therapeutics for the Healthcare Market

www.voyageurpharmaceuticals.ca

• This presentation, its contents and any related oral presentations are confidential and the property of Voyageur Pharmaceutical Minerals (“VM” or the “Company”)and have been prepared by the Company solely for the use at the meeting where this document is presented and may not be taken away, reproduced,retransmitted or further distributed to any other person or published, in whole or in part, by any medium or in any form for any purpose. By attending thispresentation, you are in agreement to be bound by these restrictions. Any failure to comply with these restrictions may constitute a violation of applicable securitieslaws. This presentation is an overview of the Company for information purposes only and should not be relied on for the purposes of making an investmentdecision. This presentation does not, and it is not intended to, provides any financial, legal, accounting, or tax advice, and must not be relied upon by you in thatrega•rd. The presentation should not be used, or relied upon by you, as a substitute for your independent research or consultation with your own financial, legal ortax advisors. There are significant risks associated with an investment in the Company. The information contained in this document has been provided by theCompany or obtained from publicly available sources or third party reports and has not been independently verified. No representation or warranty express orimplied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or any opinions contained hereinand nothing in this presentation is, or shall be relied upon as, a promise or representation by the Company. It is not the intention to provide, and you may not relyon these materials as providing, a complete or comprehensive analysis of the Company’s financial or trading position or prospects. The information and anyopinions presented herein are provided as at the date of this document based on general information gathered at the time of writing and are subject to changewithout notice. None of the Company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any losshowsoever arising from any use of these materials or its contents or otherwise arising in connection with this document. This document and any related oralpresentation does not constitute an offer or invitation to subscribe for, purchase or otherwise acquire any securities or other debt instruments of the Company andnothing contained herein or its presentation shall form the basis of any contract or commitment whatsoever, nor does it constitute a recommendation regardingthe securities of the Company. All dollar amounts stated in this Memorandum are expressed in Canadian currency, except where otherwise indicated. In anydisclosure related to Discovered Petroleum Initially-In-Place, the Company confirms that there is no certainty that it will be commercially viable to produce anyportion of such resources

• FORWARD-LOOKING INFORMATION & FORWARD-LOOKING STATEMENTS CAUTIONARYSTATEMENT

• This presentation contains forward-looking information relating to capital expenditures, future drilling, drilling costs, production rates, cash flow, investmentpayouts, valuations, and other matters (“forward looking statements”). These statements relate to future events or future performance. Forward-lookingstatements are often, but not always, identified by the use of words such as "anticipate", "budget", "plan”, “estimate", "expect", "forecast", "may", "will", "project","potential", "target", "intend", "could", "might", "should", "believe" and similar expressions. In particular, forward-looking information in this presentation includes,but is not limited to, statements with respect to: completion timing and method of funding thereof; productive capacity of wells, anticipated or expected productionrates and anticipated dates of commencement of production; future payment of dividends, drilling and completion costs; results of our projects; the performancecharacteristics of properties; production levels; projections of market prices and costs; supply and demand for barite and commodity prices; operating costs, generaladministrative costs, costs of services and other costs and expenses. Forward-looking statements are based on the opinions, assumptions and estimates ofmanagement at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or resultsto differ materially from those anticipated in the forward-looking statements. Although management believes that the expectations reflected in the forward-lookingstatements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements are not guarantees of future performanceand involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in theforward-lookinginformation or forward-looking statements.

• The Company cannot guarantee future results, level of activity, performance or achievements and there is no representation that the actual results achieved will bethe same, in whole or in part, as those set out in the forward-looking statements. The forward-looking statements contained in this presentation are expresslyqualified by this cautionary statement. We undertake no obligation to update or revise publicly any forward-looking statements except as required by applicablesecurities legislation. The forward-looking statements made herein relate only to events or information as of the date on which the statements are made. Thereader is cautioned not to place undue reliance on forward-looking statements. Some of the risks and other factors that could cause results to differ materially fromthose expressed in the forward-looking statements include, but are not limited to: general economic conditions in the Canada, the United States and globally;industry conditions including fluctuations in the price of barite, oil and gas, governmental and environmental regulation of the mining industry; geological, technicaland drilling problems; unanticipated operating events; the ability to retain mining contractors and other services; the availability of capital on acceptable terms;timing of capital expenditures, failure to realize anticipated benefits of acquisitions and dispositions, weather conditions and other unanticipated operating eventswhich can reduce production or cause delays, drilling success, resulting reserves production, commodity prices, exchange rates, interest rates, the need to obtainrequired approvals from regulatory authorities; volatility in market prices for commodities; liabilities inherent in mineral exploration operations; and changes in taxlaws and incentive programs relating to the mining industry and the other factors. Readers are cautioned that this list of risk factors should not be construed asexhaustive. Statements relating to “reserves” or “resources” are deemed to be forward-looking statements as they involve the implied assessment, based on certainestimates and assumptions, which the reserves and resources described, can beprofitably

Forward looking

statement

The Competitive

Edge

Imagine… if you were the only pharmaceuticalmanufacturer in the free world that has their own 100%long term supply of low cost rare minerals that arevital to a specific medical procedure. These medicalprocedure are used worldwide, everyday, in everincreasing volumes in every country on the planet…

• Voyageur has a 30 year supply of low cost bariumsulfate.

• Voyageur has future Iodine sources to lower thecosts of iodine contrast manufacturing.

• Voyageur has exclusive rights to natural FullereneC60 to C-90 for the Pharmaceutical market.

• To commence with cash flow, Voyageur will purchasethird party minerals to begin radiographic contrastproduction. Once production of our own mineralsbegins, cost will drop significantly.

From the Earth to the Bottle

Voyageur Secures Large Low Cost Natural Source of Fullerene C-60 to C-90

• Radiographic Contrast Media, Allows for safer more effective drugs

• Anti Viral – Antiretroviral therapy (Influenza, HIV, HSV, CMV (1)) Potential to suppress viruses

• Anti-bacterial inhibition, Potential to create new antibiotics to combat drug resistant bacteria

• Photosensitizers and Sonosensitizers. Potential to create new drugs to combat cancer

• Anti-oxidant Immune System Enhancer, Potential to create off the shelf low cost natural health products to boost immune function.

• Antitumor and Antimetastatic Agent Vaccines, potential to create drugs that limit the spread of cancer

• Endohedral metallofullerenes (EMFs) able to carry a atom within the fullerene cage.

• Cardiovascular Health• Anti-Inflammatory Agents• Protection from Radiation-Induced Injury, Ionizing

Radiation, and UVA

High revenue market and competitors rely on expensive synthetic feed stock

What Is C-60?

C-60 may be the most important discovery for the future of healthcare

C60 fullerene is often characterized by researchers as a “free radical sponge,” an entity with an antioxidant efficacy that exceeds its conventional antioxidant counterparts by several hundred-fold. This activity has been verified in vivo. In a 2010 clinical trial published by Toxicology Mechanisms and Methods. The efficiency of these entities goes up to around 100 times the leading antioxidants

The cage structure of the carbon molecule allows it to be a carrier of other molecules, which is an important for making drug delivery systems to treat patients.

Test on animals suggest it can increase longevity.

Anti viral studies show it can limit the spread of infection, minimising the symptoms.

Extraction Of C-60 From Natural Fullerene Has Been The Road Block To Drug Development

The difficulty of processing fullerenes has presented a major problem in the search for medicinal applications. The breakthrough that Voyageur has recently overcome with its strategic partners is significant. The patent pending technology that is capable of recovering C-60 from natural mineral ores can change the landscape of C-60 development. Voyageur can now open the door to mass production of C-60 based drugs.

Voyageur Unlocks A New Era In Drug Development

The Most Valuable Commodity is

Human Health… not Minerals, Metals or

Oil.

The contrast imaging market is poised for high

future growth rate.

The population over age 85 is going to double in 20 years. This is a global phenomenon - the baby boomer generation is a

major market driver.

This is not a boom or bust cycle industryHealthcare is steady and growing market

What are Barium and Iodine Radiocontrast Agents?

Why are we Unique?

What gives Voyageur the Advantage?

Radiographic contrast: Radiographic contrast agents are substances used to enhance the visibility of internal structures in X-ray-based imaging techniques such as computed tomography, projectional radiography, and fluoroscopy.

Unique: Voyageur is moving forward to be the only company in this market that will control 100% of our costs from minerals produced to manufacturing of radiocontrast in bottles for distribution. Reducing price and delivery risk & increase profitability.

Advantage: By controlling costs, eliminating all middlemen in the supply chain and becoming the only pharmaceutical radiographic contrast company to utilize its own mineral resource; Voyageur will have a great market advantage.

Highlights of the Contrast Market

High revenue market and only two main competitors in North America

Aging population = more health care required

Contrast media usage has increased 40% in the last 5 years alone (source GE Health Care)

Radiographic contrast products are one of the highest volume consumables in theHealthcare market.

Initial Voyageur product applications for Health Canada registration in process. Additional products are in the development pipeline.

Corporate Strategy for Maximum Return on Investment

World Class,Low Cost

Manufacturing

Fully integrated operation

“From the Earth to Bottle”

Build Bariumquarry,

Iodine water wells

Construct barium,

iopamidol & C-60 API

plants

Contract manufacturing, Sales, Utilizing

Foreign APIMinerals and our

own C-60

Drill and prove a high

value resource on

Frances Creek

barium sulfate project

FDA & Health Canada drug and

product registrations

Pharmaceutical Barite, Iodine & Fullerene for the Healthcare Industry

• A radiographic contrast manufacturing company• Fullerene Natural Health products and drug manufacturing.• Anticipate near term sales & cash flow upon pending

health Canada registration approvals• Initial cash-flow from contract manufacturing utilizing

foreign API minerals• Phase II – Significantly reduce product costs by utilizing

minerals produced from 100% owned mineral properties.• Full integration = lowest ingredient costs = highest value

for shareholders.• Three barite properties in British Columbia, Canada• Flagship operation at Frances Creek - highest grade

deposit with +98% BaSO4 - NI 43-101 compliant report(July 2018) - 166,210 tonnes indicated and 195,678tonnes inferred barite resources - grading 36.5% BaSO4.

• Suitable to supply USP barium sulfate for 30 years.• Iodine - Lithium properties in Utah, USA• Water well produced mineral brine deposits with high

levels of iodine, lithium and bromine.

Projects Based in Canada and the USA

BariumSulfate Projects

FrancesCreek PedleyMountain Jubilee Mountain

Voyageur : Product Manufacture GMP

Sterile ManufacturingPlants

Calgary, Alberta Mississauga, Ontario

Iodine LithiumMineral Brine Deposits

Lithium KingProject ULI Project

Pharmaceutical Manufacturing with Third Party Companies Located in Canada, USA & India.

TURN-KEY FULLERENE

BARIUM AND IODINE

PHARMACEUTICAL

PRODUCTION FACILITY, FAST

TRACK TO CASH FLOW

Voyageur is at the Regulatory Submission Stage on the Pharmaceutical Pipeline

Regulatory work is very basic for 2nd & 3rd generation generic drug registrations – these registrations are simply paperwork, API and manufacturing facilities procedures and fee payments. That is all that is required by the FDA

and Health Canada. 10 to 12 month timelines once the paper work is submitted.

Import API Minerals

Manufacturing and Sales

Utilizing Third Party GMP

manufacturing & API

Minerals

Build Barium Iodine & Fullerene

GMP Plants

Start barite quarry barite.

Develop iodine water wells and I2production.

Manufacture fullerene products

Steps To Full Integration & Market Domination

Increase Cash Flow with Low

Cost Manufacturing

Sales Strategy of a Generic Manufacturer

Sole North American Generic Radiographic Company & the First Large Scale C-60

Natural Health and Drug Company

1. Limited competition in the generic radiographic contrast market in Canada and the USA. (we are the only generic contrast in the market)

2. The first company to have long term and high volume supply of C-60 powders.

3. This allows Voyageur to have quick market penetration to begin sales.

Turn Key Contract Manufacturing:Chief Medical Supply LtdALV Ltd

Chief has one of the largest pharmaceutical manufacturing plants in NorthAmerica.Multiple sterile 500 bottle per minutebottle lines at the GMP Mississaugaplant.

AVL has a new Calgary GMP manufacturing facility under construction with start up projected in Q1 2021

Simple IngredientsBarium Contrast main ingredients:

• Barite• Starch• Sugar• Flavoring• Water

Iodine Contrast Main Ingredients:

• Iodine• Organic Binder• Water

C-60X Main Ingredients:

• C-60• Vegetable Oil

14 New Product Lines to

Launch in 2020/2021

8 future product lines

2021/2022

22 products by 2022

Low Density Barium Smoothie: SmoothX

High Density Liquid Barium: Low Density Liquid Barium:

MultiXthickMultiXthin

High Density Barium Powder:Low Density Barium Powder:

HDXBa

LDXBa

Modified Barium Swallow: BarX - Thin BarX – Low BarX – Medium BarX – Thick BarX – Pudding

Iodinated Contrast IoX200IoX250IoX300IoX370

Security for API Minerals in North

America

80% of the API (active pharmaceutical ingredients) used to make drugs in the United States are said to come from China and other countries such as India. (source: U.S.-China Economic and Security Review Commission)

Only three FDA approved Iopamidol API iodine contrast manufactures in the world, two in India and one in one in China (source FDA approved supplier

list). Voyageur will have the only iopamidol production facility located in North America.

The GMP rated API production facilities will be modular and scalable. The new pharmaceutical manufacturing technology is very efficient, scalable and affordable.

Target Markets with Government Health

Insurance:

North America, Brazil, Argentina, Costa Rica, Panama, Colombia, South Africa, Europe, Russia, Israel, Turkey, Jordon, Qatar, Kuwait, UEA, Malaysia, Singapore, Hong Kong, China, Japan, Philippines, Brunei, South Korea, Australia & New Zealand.

SGS Bateman Engineering ServicesSGS Metallurgy and Process Design

Surrounding Ourselves With Expertise & Experience

Conclusion

We are the only generic radiographic contrast company in Canada and the USA

First company to break the fullerene extraction road block

FC barite is the highest grade natural barite worldwide. This results in having a highly competitiveadvantage in the barium sulfate suspension market. (Annually $75MN North America alone)

Heading towards full Integration - Control of all cost inputs –Lowest Ingredient Cost in the market place.

Control of entire supply chain from the minerals in the ground to the final bottle/vial will allow for Low risk on price fluctuations, shortages, trade disputes and logistical challenges.

Low risk sales strategy, it is a bid market, all sales are based on price and there are very few competitors.

Share Structure April 30th 2020

Issued and Outstanding: Fully Diluted:

71,366,166 106,320,761

Voyageur is poised to bring low costpharmaceuticals to Worldwidecustomers

VOYAGEURPHARMACEUTICALS VM-TSXV

• Owns pharmaceutical mineral resources• Utilising our own source ingredients to

become fully integrated• Developing multiple products for the radio

contrast imaging market

VOYAGEURINDUSTRIAL MINERALS

• Frances Creek (Barium Sulfate)• Pedley Mountain

(Barium Sulfate)• Jubilee Mountain (Barium

Sulfate, Zinc, Silver, Lead,Copper)

VOYAGEUR INCUtah USA corporation

• ULI Project (iodine, bromine and lithium brinedevelopment)

• Lithium King (lithiumbrine development)

Corporate Structure

Executive Officers

Voyageur Pharmaceuticals

Brent Willis, B.Sc.Eng, CEOBrent Willis has over 30 years of experience successfully leading, managing and advancing complex Canadian andinternational projects in the mining, energy and in R&D industries. Brent lead two mining projects fromdiscovery/exploration through to production/cash flow. A Track record of successfully implementing strategies tomove companies from start up to cash flow in challenging economic, geographic and politically sensitiveenvironments. Strong people leadership skills involving direct cumulative oversight of over 150 employees.Experienced public speaker for promotion and marketing of corporate projects. Negotiated over $100 million incontracts involving joint ventures/sales agreements/purchase agreements/community engagement/legalsettlements/first nation contracts/Union contracts/option agreements. Lead facilitator resulting in theorchestration of multiple contractual agreements with the Asian business community in China. Operation fromdiscovery to production as President and chairman of the board at Tiger Ridge Resources Ltd. Advancing thePayback Barite Mine from discovery to production as president and chairman of the board with BlackfireExploration Ltd.

Bradley C Willis, P. Eng,COOMr. Willis has 30 years’ experience in the exploration and mining industry. Mr. Willis is credited with being a part of the team that discovered the barite deposits that are currently owned by Voyageur. He supervised all the prospecting, exploration, drilling and underground mining on the Voyageur barite properties. Mr. Willis has been involved in every aspect of each barite deposit in Voyageur portfolio.

Ron Love, CA, CFOMr. Love has 25 years of experience building, leading, and advising private and public companies internationally invarious industry verticals. Ron has substantial experience as a CFO in public companies including taking threecompanies through IPO's, M&A transactions and resulting integrations, complex restructurings, internationalexpansions, and capital market transactions. Success achieved in leading capital market transactions withinvestment bank syndicates and worldwide strategic partners in arranging approximately $1 billion throughdifferent structures of equity and debt. Ron is an excellent leader with a track record of documentedcontributions leading to improved financial performance, heightened productivity, and enhanced internalcontrols. Seen as a trusted resource in building relationships and communication lines across all departments andoperations

Steven R. Livingston, Business Development ManagerAppointed Vice President of Finance in September 2015. Mr. Livingston brings 22 years of financing experience in the Canadian Securities industry. Mr. Livingston participated as lead, co-lead or syndicate member in over 65 transactions worth over $95 million in retail purposed investor financings. Steve builds and cultivates relationships consistently, with our valued investors, investment Advisors, and our marketing partners. Steve started his finance career at Laurentian Financial Services Inc in 1989

Board of Directors

Trent Abraham, Chairman of the Board,Director31 years of success in energy services, oil & gas, mining, agriculture, blending and manufacturing, chemicals, global procurement and distribution, logistics and freight. Trent is currently the COO and President of Midwestern Mud and SOS Environmental. He also has an advisory role with Emprada Minerals LLC., a global mineral company.

Charles Littlejohn, Chair of Compensation Committee, member audit committee, DirectorMr. Littlejohn attended Western University, receiving his BA in science, with a strong background in biochemistry,

physiology and geology. His postgraduate work over the next few years was in pharmacology and pathologicalchemistry, where we performed considerable research on matters of drug toxicology and high blood pressure. He laterentered the oil and gas industry and held various positions of responsible charge before entering law school to earn acum laude doctorate in law. In the early 70’s he was a co-founder and director of a mutual fund management company.For the past 28 years he has managed a small, privately held hedge fund and from time to time has also been anadjunct professor of law at the Southern California Institute of Law. In recent years he has served as a director of twopublicly-traded companies, viz., Sienna Gold, Inc and Peruvian Precious Metals, Inc.

Dr. Merle Olson, Director, Health Science AdvisorDr. Olson attended the University of Regina receiving a BSc in Chemistry and Biology in 1975. He then attendedthe University of Western Ontario where he received a Master’s degree in Chemistry. Attended the WesternCollege of Veterinary Medicine (WCVM) and following graduation in 1981 practiced in Pincher Creek, Alberta. In1984 Merle accepted a position at the University of Calgary (U of C). During this period he had over 200 papers,45 patents and 30 graduate students in infectious diseases and pharmaceutical development. In 2004 Dr. Olsonretired to found a Veterinary Pharmaceutical Manufacturing Company, Alberta Veterinary Laboratories (AVL). Dr.Olson currently acts as VP of Research and Business development for AVL and Chief Medical Ltd. a humanpharmaceutical manufacturer, at their 81,000 sq ft GMP manufacturing plant in Calgary, AB. These companiesproduce over 80 novel and generic products forveterinarians and humans and employ over 80 pharmaceutical, chemical and engineering scientists. Dr. Olson hasproduced novel veterinary pharmaceutical products for horses for control of pain, inflammation, parasites andinfections. Dr. Olson continues to conduct human and veterinary pharmaceutical product development and isactive in the laboratory and conducting clinical trials.

Board of Directors

Bradley Willis, P. Eng, Director, Mr. Willis has 30 years’ experience in the exploration and mining industry. Mr. Willis is credited with being a part of the team that discovered the barite deposits that are currently owned by Voyageur. He supervised all the prospecting, exploration, drilling and underground mining on the Voyageur barite properties. Mr. Willis has been involved in every aspect of each barite deposit in Voyageur portfolio. Brad has taken the lead in the development of Imaging X and moving this company into cash flow.

Brent Willis, Bsc. Eng, DirectorCEO of Voyageur Pharmaceutical Minerals, Mr. Willis has over 30 years of experience successfully leading, managing and advancing Canadian and international projects in the miningindustry.

Randy Henkle, P. Geo,DirectorRandy’s work history includes projects in Western Canada, Western and Eastern US, Mexico and South America. He is aproven prospect generator. His discovery & acquisition track record includes 3 gold-silver mines (two of which are nowmined out, with one presentlyan active producer) and 2 producing chemical/specialty limestonemines.

Ron Sifton, ICD.D, CPA.CA, Director, Chair the Audit CommitteeHe was an integral part of the management team of Newalta Corp that delivered dynamic growth making Newalta oneof Canada’s largest waste management companies. Ron was the Executive VP, CFO and director of Newalta Corp. (nowTervita Corporation). Newalta (Tervita) is a leading provider of industrial waste management and environmentalservices in Canada. Director, Chair of Audit Committee: Calgary Handibus Association a non-profit organization devotedto accessible transportation in Calgary. Director, Chair of Audit: Compensation and Special Independent Committees.BQE Water, a public company specializing in mine water treatment and management. Director and member ofCompensation Committee, Tellus Holdings an Australian waste management company. Director and member of AuditCommittee (Chair), Compensation Committee, Corporate Governance Committee & Special Independent Committee -Ceiba Energy Services, a service provider of stand-alone water disposal and oil treating facilities. Ron also served asInterim President and CEO during the take-over of Ceiba by Secure Energy Services.

For more information Please contact:

Mr. Steven R. Livingston Business Development Manager+ (403) 471-1659

Suite 255, 339 – 50th Ave SECalgary, Alberta, T2G 2B3 Canada

steve@vpharma.ca www.voyageurpharmaceuticals.ca