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Exploration
for the Next
Clean Energy
Generation of
Metals
TSX-V: LSTR Investor Presentation / February 2023
Investor Presentation – February 2023 / 2
Forward-Looking Statement
This presentation contains “forward-looking information” which may include, but is not
limited to, statements with respect to the future financial or operating performance of
Plymouth Realty Capital Corp. and, upon completion of its transaction to acquire Penasco
Quemado, La Frazada and Pluton properties, located in Mexico, (the “Mexican Silver
Properties”) from Silver One Resources Inc., Lodestar Battery Metals Metals Corp. (collectively,
the “Company”) and its projects, the future price of gold, silver or other metal prices,
exploration expenditures, costs and timing of future exploration, requirements for additional
capital, government regulation of mining operations, environmental risks, reclamation
expenses, title disputes or claims, limitations of insurance coverage and regulatory matters.
Often, but not always, forward-looking statements can be identified by the use of words
such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, or “believes” or variations (including negative variations) of such
words and phrases, or statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and other factors that may cause the
actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward-
looking statements. Such factors include, among others, ability to complete its transaction
with Silver One Resources Inc. to acquire the Mexican Silver Properties, completion of the
private placement financing, general business, economic, and competitive uncertainties;
lack of production; limited operating history of the Company; the actual results of current
exploration activities; ability to obtain prospecting licenses or permits; the legal obligations
to consult and accommodate aboriginal land claims; proper title to the claim that
comprises the Mexican Silver Properties; the Company may lose or abandon its interest in
the Mexican Silver Properties; ability to retain qualified personnel; the ability to obtain
adequate financing for exploration and development; volatility of commodity prices;
environmental risks of mining operations; accidents, labour disputes and other risks of the
mining industry, including but not limited to environmental hazards, cave-ins, pit-wall
failures, flooding, rock bursts and other acts of God or unfavourable operating conditions
and losses. Forward-looking statements are based on a number of material factors and
assumptions, including the determination of mineral reserves or resources, if any, the results
of exploration and drilling activities, the availability and final receipt of required approvals,
licenses and permits that sufficient working capital is available to complete proposed
exploration and drilling activities, that contracted parties provide goods and/or services on
the agreed time frames, the equipment necessary for exploration is available as scheduled
and does not incur unforeseen break downs, that no labour shortages or delays are incurred
and that no unusual geological or technical problems occur. While the Company considers
these assumptions may be reasonable based on information currently available to it, they
may prove to be incorrect. Actual results may vary from such forward-looking information
for a variety of reasons. These forward-looking statements are made as of the date of this
presentation and are based upon management’s beliefs, estimates and opinions. Following
listing on the TSX Venture Exchange, the Company intends to discuss in its quarterly and
annual reports referred to as the Company’s Management’s Discussion and Analysis
documents any events and circumstances that occurred during the period to which such
document relates that are reasonably likely to cause actual events or circumstances to
differ materially from those disclosed in this presentation. New factors emerge from time to
time, and it is not possible for management to predict all of such factors and to assess in
advance the impact of each such factor on the Company’s business or the extent to which
any factor, or combination of factors, may cause actual results to differ materially from
those contained in any forward-looking statement. Other than as required by law and as
otherwise stated in this presentation, the Company does not intend and undertakes no
obligation to update any forward-looking information to reflect, among other things, new
information or future events. Investors are cautioned against placing undue reliance on
forward-looking statements. Peter Born, P. Geo, an independent Qualified Person under
National Instrument 43-101 has reviewed and approved the technical disclosure in this
presentation. Investors are cautioned that mineralization on adjacent or nearby properties is
not necessarily indicative of mineralization on the Mexican Silver Properties.
Cautionary Note to U.S. Investors Concerning Estimates of Measured,
Indicated and Inferred Resources
This presentation uses the terms “Measured”, “Indicated” and “Inferred” Resources as defined
in accordance with NI 43-101. United States readers are advised that while such terms are
recognized and required by Canadian securities laws, the United States Securities and
Exchange Commission does not recognize them. Under United States standards,
mineralization may not be classified as a “reserve” unless the determination has been made
that the mineralization could be economically and legally produced or extracted at the time
the reserve calculation is made. United States readers are cautioned not to assume that all
or any part of the mineral deposits in these categories will ever be converted into reserves.
In addition, “Inferred Resources” have a great amount of uncertainty as to their existence
and as to their economic and legal feasibility. It cannot be assumed that all or any part of
an Inferred Resource will ever be upgraded to a higher category. United States readers are
also cautioned not to assume that all or any part of an Inferred Resource exists or is
economically or legally mineable.
Investor Presentation – February 2023 / 3
Focused on core EV battery metals growth.
Diversified exploration portfolio of one lithium
property in Snow Lake Manitoba with 100% interest
and two silver properties in Mexico.
Newly acquired Land Package surrounding lithium
discovery in Snow Lake, Manitoba. The Snow Lake
District has raised C$50M+ in the last 36 months,
with favourable tax treatments.
New seasoned management team with a proven
track record in capital markets.
Tight capital structure and strong capital position.
Investment Highlights
Investor Presentation – February 2023 / 4
• Lodestar Battery Metals is a mining exploration
company with the goal of further advancing its
core properties with an ESG focus.
• Through additional project acquisitions and
claim expansions, Lodestar Battery Metals will
continue to expand and develop it’s property
portfolio with a targeted focus on the battery
metals space.
• Organic growth by adding value to our current
properties through continued exploration work.
About Us
Investor Presentation – February 2023 / 5
Our Strategy
1 Clear focus on battery metal assets.
2
2022 exploration budget will be deployed for
the newly acquired Peny Property in Snow
Lake, Manitoba.
3
High potential to provide shareholder value:
• Peny Property is in close proximity to the
Thompson Brothers Lithium deposit with an
Indicated Resource.
• Backed by a combination of capital markets
executives and leading exploration
management consultation in Manitoba.
Investor Presentation – February 2023 / 6
Peny Property - Overview
The Peny Property is comprised of 15 mineral claims totalling 3,204
Hectares in the Snow Lake district in Manitoba, Canada.
• The Peny property encompasses rock belonging to the Paleoproterozoic Snow
Lake subdomain of the Flin Flon – Glennie Complex (FFGC) in the Trans-Hudson
Orogen and occurs along the folded southern margin of the Kisseynew domain.
The property comprises sedimentary, volcanic and hypabyssal rocks of the
Burtwood and Missi Groups, which occur adjacent to the Crowduck Bay Pluton
and associated felsic tonalites and mapped pegmatites.
• The Property is in close proximity to the recognized Crowduck Bay Shear Zone,
which is spatially associated with pegmatite emplacement at the Wekusko Lake
pegmatite field where Snow Lake Lithium (NASDAQ: LITM) has a defined indicated
resources of 9.08 Mt@ 1.00% Li2O, further exploration work is assessing the
production of 160k tonnes per annum of 6% lithium ore concentrate for 8-10 years.
SNOW LAKE
PENY PROPERTY
Investor Presentation – February 2023 / 7
Peny Property – The Potential
Peny Property offers high-potential growth-
based market conditions and opportunities:
• Exploration demand and investment interest
in new Tier-1 jurisdictions such as Manitoba
since 90 percent of lithium mining occurs in
just three countries (Australia, Chile, China).
• Spodumene (a lithium-rich mineral)
represents the most abundant lithium ore
and has been identified in abundance
adjacent to the property.
• Spodumene lithium deposits advantage: The
speed at which lithium carbonate can be
produced (Scales, 2011). Only five days are
needed between the time the ore is mined,
and the final product is ready for shipment.
Conversely, brine evaporation processing
can take between 18 and 24 months.
Investor Presentation – February 2023 / 8
Peny Property – Ideal Location
• Peny Property is located approximately 25
kilometres northeast of Snow Lake, Manitoba.
The Peny Property is prospective for Lithium
Pegmatite and Volcanic Massive Sulphide
(“VMS”) style mineralization which is known to
occur in the local area.
• The Peny Property is located adjacent to the
former producing Osborne Lake VMS Mine and
Bur Property Cu+Zn+Ag historical resource,
where historical workers report wall rock are
intruded by coarse-grained, Spodumene
bearing, sheared pegmatite.
Investor Presentation – February 2023 / 9
Peny Property – Favourable Conditions
• The historical work on the property indicates that
mineralization may include copper and zinc; Lodestar
Battery Metals intends to refocus on the project of
lithium exploration within the current property boundary.
• The snow lake area has access to tier-1 existing
infrastructure including Railway Access, Road Access,
Airstrip, and power lines.
• Recent exploration success in the district highlights a
clear path to possible discoveries at the property using
tried and tested exploration methods.
Investor Presentation – February 2023 / 10
Lodestar Exploration Strategy
The 2022 Peny work program has commenced stages approach with a view to
systematically screening the property to develop targets for further exploration
development, including eventual drilling.
Lodestar’s Phase 1 approach includes:
• Remote Sensing: By combining modern remote sensing techniques using
multispectral imaging and synthetic aperture radar to analyze vegetation,
structure and alteration, complex anomalies covering large areas can be
quickly and effectively identified. This is a multivariate exploration approach,
combining existing geological, geochemical, and geophysical data with
multiple satellite analyses to identify new potential mineral targets.
• Tri-Axial Magnetics: An airborne survey is to be completed as soon as possible
to identify favourable structural settings conducive to pegmatite
emplacement.
• A comprehensive surficial and subsurface structural analysis and
interpretation, based on remote sensing and geophysical data is to be
completed on the combined datasets, and by incorporating historical
exploration and recently quired field data the property will be screened to
develop systematically derived targets for boots on the ground follow up work.
• Surface Mapping and Sampling: Surface mapping and sampling of outcrops
will assist in identifying areas of pegmatite outcrop at the property; field
exploration activities can be focused based on geophysical and remote
sensing screening.
Investor Presentation – February 2023 / 11
Snow Lake District
Established
Mining District
Almost 100 years of
historic and
consistent mining in
the area
Excellent
Infrastructure
Near highway, grid
power, railway
Potential for New
Discoveries
Recent investments in
the district by several
mining companies
demonstrate high
confidence in the
potential for new
discoveries
Established
Operators
HudBay operates the
Lalor Mine and
concentrator in the
Snow Lake District
EV Supply
Strategically located to
supply North America’s
growing EV appetite
Investor Presentation – February 2023 / 12
Silver Projects
Penasco Quemado (Sonora, Mexico)
Land Package: 3,746 ha
Manto Oxide Mineralization Ag, (Cu)
Historical M&I: 9.63 Moz Ag1
Historical Inferred: 0.13 Moz Ag1
La Frazada (Nayarit, Mexico)
Land Package: 299 ha
Epithermal Vein Ag, Zn. Pb (Cu)
Historical M&I: 4.70 Moz Ag1
Historical Inferred: 3.86 Moz Ag1
Lodestar Battery Metals’ initial acquisition
includes a 100% interest in two significant
silver assets in Mexico:
Penasco Quemado (Sonora)
La Frazada (Nayarit)
Lodestar Battery Metals acquired these assets
from Silver One Resources Inc. with over 10%
Ownership.
Note: See slide 23 for Historical MREs Disclaimer.
Investor Presentation – February 2023 / 13
Company
Market
Cap
Project Locations Metal Exploration Exploration stage Notes
Manitoba
Property Size
Lodestar
Battery
Metals
TSXV: LSTR
$4M
Snow Lake Manitoba,
Mexico (2)
Lithium,
Silver
Preliminary exploration identifying
mineralization targets
Commenced Exploration
program and tight capital
structure.
7,917 Acres
Foremost
Lithium
Resource
CSE: FAT
$47M
Snow Lake, Manitoba
Lithium
Gold, Silver
Initial drill program at Jean Lake
Lithium Project in winter 2022
Closed 1.6M Non-Brokered
private placement at a
premium . Spread out
amongst 5 properties.
43,031 Acres
Snow Lake
Lithium
Nasdaq: LITM
$53M Snow Lake, Manitoba Lithium 10,000M Drill Program ongoing Raised USD $27MM 55,318 Acres
Direct Comps
Note: Comparison based on companies with controlling interest in Snow Lake and Central Manitoba lithium projects. Market Cap Data as of February 22, 2023, CAD.
Investor Presentation – February 2023 / 14
Capital Structure Comparables
Lodestar Battery Metals
(TSXV: LSTR)
Snow Lake Resources
(NASDAQ: LITM)
Foremost Lithium Resource
(CSE: FAT)
44,336,500
$3,999,285
195,938,799
$47,025,312
$52,975,188
17,924,758
Note: Comparison based on companies with controlling interest in Snow Lake and Central Manitoba lithium projects. Market Cap Data as of February 22, 2023, CAD.
Shares Outstanding
Market Capitalization
Investor Presentation – February 2023 / 15
Longford Exploration
Lodestar Battery Metals has retained Longford Exploration to
manage the Stage 1 Exploration program on the Peny Property.
Complete project
management providing
qualified geologists,
equipment, and custom
exploration solutions.
Reducing day-to-day
micromanagement for
executives.
Advancing exploration
projects to meet local
requirements, permits, and
technical reporting
standards.
Provides access to industry
specialists with a full suite of
mineral exploration talent,
ranging from geochemistry,
geophysics & structural
mapping. Longford’s GIS
specialists are then able to
take the results from the field
and produce reports.
Track record and expertise
in developing early-stage
'greenfields' projects through
exploration development and
bringing projects to drill
readiness.
Investor Presentation – February 2023 / 16
Timeline
Q4 2022
• Data Compilation
• Field Exploration
• CAD $400k capital
raise of flow-through
for Peny Property
Q1 2023
• Analysis of Phase 1
Sample Results
• Remote Sensing
• Additional Staking
Q2 2023
• Geophysics (Heli)
• Interpretation of results
• Exploration Planning
• Prospective
Geochemical
Exploration Campaign
Q3 2023
• Field Exploration
Q4 2024
• Data Compilation
• Data Interpretation
Investor Presentation – February 2023 / 17
Management Team & Board of Directors
Experienced management team with proven track record in junior exploration and finance.
Lowell Kamin
CEO & Director
Lowell has over 25 years of Capital
Markets experience at Canadian and
Global Investment Banks in addition
to numerous senior leadership roles.
He advised and raised funds for a
range of Canadian & U.S. mining
issuers from exploration phase to
production.
Killian Ruby
CFO & Director
Killian provides CFO and strategic
financial advisory services to a
arrange of public and private
companies across industries and
sectors. Former audit partner (Baker
Tilly Canada) and senior manager
with KPMG Canada and KPMG
Ireland. Canada CPA, CA and an Irish
Chartered Accountant.
Luke van der Meer, P. Geo
Qualified Person
Luke has over 20 years of experience in
mineral exploration, mining, and civil
engineering. He graduated from the
University of Otago in New Zealand in
2001 and started his career in
underground mining with Barrick Gold in
Western Australia, perfecting technical
best practices in mineral exploration
and resource development.
Scott Margach
Director
Scott is an experienced Analyst and
Portfolio Manager having managed
both Canadian and U.S. public
equities for more than 25 years
including fixed-income and digital
assets. As a consultant, he helped
asset owners and asset managers
deal with the evolving challenges
related to ESG. Scott is a Chartered
Financial Analyst (CFA).
Charles Hethey
Advisor & Counsel
Charles is a securities lawyer in
British Columbia and New York with
over ten years of experience. He
represents a number of U.S. and
Canadian listed entities on the TSX
Venture Exchange, Canadian
Securities Exchange and U.S. OTC
markets. His clients are active in a
broad range of industries with an
emphasis on mining issuers.
Gary Prihar
Director
Founder of VIVA Care Medical and
Move Health & Wellness. Gary is
President at Move Health & Wellness
and a director of Leveljump
Healthcare Corp., Member of the
Chartered Professional Accountants
of BC, Member of the Institute of
Chartered Accountants of BC and
Advisor at Mandala Capital Inc.
Investor Presentation – February 2023 / 18
Contact Us
Lowell Kamin
CEO and Director
Alyssa Barry
Investor Relations
416.272.1241
investors@lodestarbatterymetals.ca
1680 - 355 Burrard Street
Vancouver, BC
V6C 2G8
lodestarbatterymetals.ca
TSX-V: LSTR
Investor Presentation – February 2023 / 19
Appendix
Investor Presentation – February 2023 / 20
Lithium & Silver Overview
Lodestar Battery Metals offers exposure to both of these core
EV Metals.
Lithium
Lithium Ion batteries have ‘won the war’ for
EV use; these high-capacity, fast-to-charge
batteries are found in every EV in production
today and are at the heart of the EV
roadmap for the future.
Peny Property has the potential of
lithium hosted by Spodumene.
Silver
Silver will continue to play an increasing
role in the construction of electrical EV
components and their electrical
conductive properties.
Lithium, nickel and cobalt are all
expected to have the highest multiples
of demand growth, with the need for
silver remaining high for its conductive
and corrosion-resistant properties.
Investor Presentation – February 2023 / 21
Lithium Market Statistics
Amid a landscape of high prices
and an undersupplied market
environment, Chinese refineries
imported spodumene concentrates
below 1.5 percent lithium oxide (0.7
percent lithium) in order to supply
market needs.
Surging EV demand has seen
lithium prices skyrocket by around
550 percent in a year: by the
beginning of March 2022, the lithium
carbonate price had passed
$75,000 per metric ton.
Investor Presentation – February 2023 / 22
Historical MREs Disclaimer
Historical 2007 Mineral Resources Estimate on the Peñasco Quemado Property (30 g/t Silver Cut-off Grade) Based on data available as of November 2006
Category
Tonnes
(Millions)
Silver Grade
(g/t)
Silver Grade
(oz/t)
Silver
(millions of ounces)
Measured 0.123 151.9 4.88 0.599
Indicated 2.442 115.0 3.70 9.032
Measured + Indicated Total 2.565 116.8 3.76 9.631
Inferred 0.001 41.4 1.32 0.001
Historical 2008 Mineral Resources Estimate on the La Frazada Property (60 g/t Silver Cut-Off) Based on data available as of October 2008
Resource Classification
Tonnes
(x 1,000)
Grade
Silver
(g/t)
Gold (g/t) Lead (%) Zinc (%) Cu (%)
Silver
(x 000 oz)
Gold
(oz)
Lead
(x 000 lb)
Zinc
(x 000 lb)
Cu
(x 000 lb)
Measured 304 259.8 0.197 0.876 2.36 0.095 2,537 1,900 5,866 15,782 635
Indicated 279 240.5 0.141 0.862 2.52 0.089 2,156 1,300 5,297 15,498 546
Total Measured + Indicated 583 250.5 0.170 0.869 2.44 0.092 4,693 3,200 11,163 31,280 1,181
Inferred 534 224.9 0.178 0.923 2.62 0.089 3,859 3,100 10,860 30,769 1,046
• Lodestar Battery Metals states with equal prominence that it is not treating the historical estimate as current mineral resources or reserves.
At this time, a qualified person has not done sufficient work on behalf of Lodestar to classify the historical estimate as current mineral
resources or reserves. Investors should not rely on the historical estimate as a current mineral resource estimate until it has been verified
and supported in a technical report in accordance with NI 43-101.
• The disclosure of this historical estimate has been reviewed by Luke van der Meer, a “Qualified Person” as defined by National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
Investor Presentation – February 2023 / 23
Source and date of the historical estimate,
including any existing technical report
Information relating to these historical estimates is summarized from the following technical reports:
Lewis, W.J. and McCrea, J.A., (2006), Updated NI 43-101 Technical Report and Resource Estimate for the Peñasco
Quemado Silver Property, Magdalena – Tubutama Mining District Sonora, Mexico, 152 p. completed for Silvermex
Resources Limited.
Lewis, William, J., (2008, Amended 2009), Technical Report and Preliminary Mineral Resource Estimate for the La
Frazada Silver property, El Zopilote Mining District, Nayarit, Mexico, 99 p. completed for Silvermex Resources Limited.
Relevance and reliability of the historical
estimate
The Reports were compiled in accordance with Canadian Institute of Mining (2005) standards and best practices for
Mineral Resources, adhering to NI 43-101. Silvermex established QAQC programs that were reviewed by the
independent QP who accepted the data as suitable for mineral resource estimation at that time.
Key assumptions, parameters, and methods
used to prepare the historical estimate
The Peñasco Quemado capped silver grade was interpolated using IDW method into a block model constrained by
mineralized domains. Parameters used include a cut-off grade of 30 grams per tonne (g/t) silver with high-grade
samples capped at 700 g/t silver.
The La Frazada capped silver grade was interpolated using section-polygonal method into a block model
constrained by mineralized domains. Parameters used include a cut-off grade of 60 grams per tonne (g/t) silver.
Resource categories used
In accordance with NI 43-101 as defined in 2011, the La Frazada and Peñasco Quemado historical estimate used the
terms inferred, indicated and measured mineral resource having the same meanings ascribed to those terms by the
CIM Definition Standards on Mineral Resources and Mineral Reserves.
More recent estimates or data available to
the issuer
There are no more recent estimates available to the company on either project.
Work needed to be done to upgrade or verify
the historical estimate as current mineral
resources or mineral reserves
An independent Qualified Person has not done sufficient work to review the historical data and historical estimate to
determine what further work would be required to write an updated current Technical Report in accordance with NI
43-101. It is envisaged that this will involve an update/refinement to the geologic model and grade interpolation
methods. The company has currently commissioned an update Ni 43-101 report and MRE at the Peñasco Quemado
Property.
• In accordance with Section 2.4 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and despite
section 2.2 an issuer may disclose an historical estimate, using the original terminology, if the disclosure identifies the following:
Historical MREs Disclaimer (continued)

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Lodestar_InvestorPresentation_February2023.pdf

  • 1. Exploration for the Next Clean Energy Generation of Metals TSX-V: LSTR Investor Presentation / February 2023
  • 2. Investor Presentation – February 2023 / 2 Forward-Looking Statement This presentation contains “forward-looking information” which may include, but is not limited to, statements with respect to the future financial or operating performance of Plymouth Realty Capital Corp. and, upon completion of its transaction to acquire Penasco Quemado, La Frazada and Pluton properties, located in Mexico, (the “Mexican Silver Properties”) from Silver One Resources Inc., Lodestar Battery Metals Metals Corp. (collectively, the “Company”) and its projects, the future price of gold, silver or other metal prices, exploration expenditures, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and regulatory matters. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward- looking statements. Such factors include, among others, ability to complete its transaction with Silver One Resources Inc. to acquire the Mexican Silver Properties, completion of the private placement financing, general business, economic, and competitive uncertainties; lack of production; limited operating history of the Company; the actual results of current exploration activities; ability to obtain prospecting licenses or permits; the legal obligations to consult and accommodate aboriginal land claims; proper title to the claim that comprises the Mexican Silver Properties; the Company may lose or abandon its interest in the Mexican Silver Properties; ability to retain qualified personnel; the ability to obtain adequate financing for exploration and development; volatility of commodity prices; environmental risks of mining operations; accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, cave-ins, pit-wall failures, flooding, rock bursts and other acts of God or unfavourable operating conditions and losses. Forward-looking statements are based on a number of material factors and assumptions, including the determination of mineral reserves or resources, if any, the results of exploration and drilling activities, the availability and final receipt of required approvals, licenses and permits that sufficient working capital is available to complete proposed exploration and drilling activities, that contracted parties provide goods and/or services on the agreed time frames, the equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred and that no unusual geological or technical problems occur. While the Company considers these assumptions may be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons. These forward-looking statements are made as of the date of this presentation and are based upon management’s beliefs, estimates and opinions. Following listing on the TSX Venture Exchange, the Company intends to discuss in its quarterly and annual reports referred to as the Company’s Management’s Discussion and Analysis documents any events and circumstances that occurred during the period to which such document relates that are reasonably likely to cause actual events or circumstances to differ materially from those disclosed in this presentation. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement. Other than as required by law and as otherwise stated in this presentation, the Company does not intend and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events. Investors are cautioned against placing undue reliance on forward-looking statements. Peter Born, P. Geo, an independent Qualified Person under National Instrument 43-101 has reviewed and approved the technical disclosure in this presentation. Investors are cautioned that mineralization on adjacent or nearby properties is not necessarily indicative of mineralization on the Mexican Silver Properties. Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated and Inferred Resources This presentation uses the terms “Measured”, “Indicated” and “Inferred” Resources as defined in accordance with NI 43-101. United States readers are advised that while such terms are recognized and required by Canadian securities laws, the United States Securities and Exchange Commission does not recognize them. Under United States standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve calculation is made. United States readers are cautioned not to assume that all or any part of the mineral deposits in these categories will ever be converted into reserves. In addition, “Inferred Resources” have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Resource will ever be upgraded to a higher category. United States readers are also cautioned not to assume that all or any part of an Inferred Resource exists or is economically or legally mineable.
  • 3. Investor Presentation – February 2023 / 3 Focused on core EV battery metals growth. Diversified exploration portfolio of one lithium property in Snow Lake Manitoba with 100% interest and two silver properties in Mexico. Newly acquired Land Package surrounding lithium discovery in Snow Lake, Manitoba. The Snow Lake District has raised C$50M+ in the last 36 months, with favourable tax treatments. New seasoned management team with a proven track record in capital markets. Tight capital structure and strong capital position. Investment Highlights
  • 4. Investor Presentation – February 2023 / 4 • Lodestar Battery Metals is a mining exploration company with the goal of further advancing its core properties with an ESG focus. • Through additional project acquisitions and claim expansions, Lodestar Battery Metals will continue to expand and develop it’s property portfolio with a targeted focus on the battery metals space. • Organic growth by adding value to our current properties through continued exploration work. About Us
  • 5. Investor Presentation – February 2023 / 5 Our Strategy 1 Clear focus on battery metal assets. 2 2022 exploration budget will be deployed for the newly acquired Peny Property in Snow Lake, Manitoba. 3 High potential to provide shareholder value: • Peny Property is in close proximity to the Thompson Brothers Lithium deposit with an Indicated Resource. • Backed by a combination of capital markets executives and leading exploration management consultation in Manitoba.
  • 6. Investor Presentation – February 2023 / 6 Peny Property - Overview The Peny Property is comprised of 15 mineral claims totalling 3,204 Hectares in the Snow Lake district in Manitoba, Canada. • The Peny property encompasses rock belonging to the Paleoproterozoic Snow Lake subdomain of the Flin Flon – Glennie Complex (FFGC) in the Trans-Hudson Orogen and occurs along the folded southern margin of the Kisseynew domain. The property comprises sedimentary, volcanic and hypabyssal rocks of the Burtwood and Missi Groups, which occur adjacent to the Crowduck Bay Pluton and associated felsic tonalites and mapped pegmatites. • The Property is in close proximity to the recognized Crowduck Bay Shear Zone, which is spatially associated with pegmatite emplacement at the Wekusko Lake pegmatite field where Snow Lake Lithium (NASDAQ: LITM) has a defined indicated resources of 9.08 Mt@ 1.00% Li2O, further exploration work is assessing the production of 160k tonnes per annum of 6% lithium ore concentrate for 8-10 years. SNOW LAKE PENY PROPERTY
  • 7. Investor Presentation – February 2023 / 7 Peny Property – The Potential Peny Property offers high-potential growth- based market conditions and opportunities: • Exploration demand and investment interest in new Tier-1 jurisdictions such as Manitoba since 90 percent of lithium mining occurs in just three countries (Australia, Chile, China). • Spodumene (a lithium-rich mineral) represents the most abundant lithium ore and has been identified in abundance adjacent to the property. • Spodumene lithium deposits advantage: The speed at which lithium carbonate can be produced (Scales, 2011). Only five days are needed between the time the ore is mined, and the final product is ready for shipment. Conversely, brine evaporation processing can take between 18 and 24 months.
  • 8. Investor Presentation – February 2023 / 8 Peny Property – Ideal Location • Peny Property is located approximately 25 kilometres northeast of Snow Lake, Manitoba. The Peny Property is prospective for Lithium Pegmatite and Volcanic Massive Sulphide (“VMS”) style mineralization which is known to occur in the local area. • The Peny Property is located adjacent to the former producing Osborne Lake VMS Mine and Bur Property Cu+Zn+Ag historical resource, where historical workers report wall rock are intruded by coarse-grained, Spodumene bearing, sheared pegmatite.
  • 9. Investor Presentation – February 2023 / 9 Peny Property – Favourable Conditions • The historical work on the property indicates that mineralization may include copper and zinc; Lodestar Battery Metals intends to refocus on the project of lithium exploration within the current property boundary. • The snow lake area has access to tier-1 existing infrastructure including Railway Access, Road Access, Airstrip, and power lines. • Recent exploration success in the district highlights a clear path to possible discoveries at the property using tried and tested exploration methods.
  • 10. Investor Presentation – February 2023 / 10 Lodestar Exploration Strategy The 2022 Peny work program has commenced stages approach with a view to systematically screening the property to develop targets for further exploration development, including eventual drilling. Lodestar’s Phase 1 approach includes: • Remote Sensing: By combining modern remote sensing techniques using multispectral imaging and synthetic aperture radar to analyze vegetation, structure and alteration, complex anomalies covering large areas can be quickly and effectively identified. This is a multivariate exploration approach, combining existing geological, geochemical, and geophysical data with multiple satellite analyses to identify new potential mineral targets. • Tri-Axial Magnetics: An airborne survey is to be completed as soon as possible to identify favourable structural settings conducive to pegmatite emplacement. • A comprehensive surficial and subsurface structural analysis and interpretation, based on remote sensing and geophysical data is to be completed on the combined datasets, and by incorporating historical exploration and recently quired field data the property will be screened to develop systematically derived targets for boots on the ground follow up work. • Surface Mapping and Sampling: Surface mapping and sampling of outcrops will assist in identifying areas of pegmatite outcrop at the property; field exploration activities can be focused based on geophysical and remote sensing screening.
  • 11. Investor Presentation – February 2023 / 11 Snow Lake District Established Mining District Almost 100 years of historic and consistent mining in the area Excellent Infrastructure Near highway, grid power, railway Potential for New Discoveries Recent investments in the district by several mining companies demonstrate high confidence in the potential for new discoveries Established Operators HudBay operates the Lalor Mine and concentrator in the Snow Lake District EV Supply Strategically located to supply North America’s growing EV appetite
  • 12. Investor Presentation – February 2023 / 12 Silver Projects Penasco Quemado (Sonora, Mexico) Land Package: 3,746 ha Manto Oxide Mineralization Ag, (Cu) Historical M&I: 9.63 Moz Ag1 Historical Inferred: 0.13 Moz Ag1 La Frazada (Nayarit, Mexico) Land Package: 299 ha Epithermal Vein Ag, Zn. Pb (Cu) Historical M&I: 4.70 Moz Ag1 Historical Inferred: 3.86 Moz Ag1 Lodestar Battery Metals’ initial acquisition includes a 100% interest in two significant silver assets in Mexico: Penasco Quemado (Sonora) La Frazada (Nayarit) Lodestar Battery Metals acquired these assets from Silver One Resources Inc. with over 10% Ownership. Note: See slide 23 for Historical MREs Disclaimer.
  • 13. Investor Presentation – February 2023 / 13 Company Market Cap Project Locations Metal Exploration Exploration stage Notes Manitoba Property Size Lodestar Battery Metals TSXV: LSTR $4M Snow Lake Manitoba, Mexico (2) Lithium, Silver Preliminary exploration identifying mineralization targets Commenced Exploration program and tight capital structure. 7,917 Acres Foremost Lithium Resource CSE: FAT $47M Snow Lake, Manitoba Lithium Gold, Silver Initial drill program at Jean Lake Lithium Project in winter 2022 Closed 1.6M Non-Brokered private placement at a premium . Spread out amongst 5 properties. 43,031 Acres Snow Lake Lithium Nasdaq: LITM $53M Snow Lake, Manitoba Lithium 10,000M Drill Program ongoing Raised USD $27MM 55,318 Acres Direct Comps Note: Comparison based on companies with controlling interest in Snow Lake and Central Manitoba lithium projects. Market Cap Data as of February 22, 2023, CAD.
  • 14. Investor Presentation – February 2023 / 14 Capital Structure Comparables Lodestar Battery Metals (TSXV: LSTR) Snow Lake Resources (NASDAQ: LITM) Foremost Lithium Resource (CSE: FAT) 44,336,500 $3,999,285 195,938,799 $47,025,312 $52,975,188 17,924,758 Note: Comparison based on companies with controlling interest in Snow Lake and Central Manitoba lithium projects. Market Cap Data as of February 22, 2023, CAD. Shares Outstanding Market Capitalization
  • 15. Investor Presentation – February 2023 / 15 Longford Exploration Lodestar Battery Metals has retained Longford Exploration to manage the Stage 1 Exploration program on the Peny Property. Complete project management providing qualified geologists, equipment, and custom exploration solutions. Reducing day-to-day micromanagement for executives. Advancing exploration projects to meet local requirements, permits, and technical reporting standards. Provides access to industry specialists with a full suite of mineral exploration talent, ranging from geochemistry, geophysics & structural mapping. Longford’s GIS specialists are then able to take the results from the field and produce reports. Track record and expertise in developing early-stage 'greenfields' projects through exploration development and bringing projects to drill readiness.
  • 16. Investor Presentation – February 2023 / 16 Timeline Q4 2022 • Data Compilation • Field Exploration • CAD $400k capital raise of flow-through for Peny Property Q1 2023 • Analysis of Phase 1 Sample Results • Remote Sensing • Additional Staking Q2 2023 • Geophysics (Heli) • Interpretation of results • Exploration Planning • Prospective Geochemical Exploration Campaign Q3 2023 • Field Exploration Q4 2024 • Data Compilation • Data Interpretation
  • 17. Investor Presentation – February 2023 / 17 Management Team & Board of Directors Experienced management team with proven track record in junior exploration and finance. Lowell Kamin CEO & Director Lowell has over 25 years of Capital Markets experience at Canadian and Global Investment Banks in addition to numerous senior leadership roles. He advised and raised funds for a range of Canadian & U.S. mining issuers from exploration phase to production. Killian Ruby CFO & Director Killian provides CFO and strategic financial advisory services to a arrange of public and private companies across industries and sectors. Former audit partner (Baker Tilly Canada) and senior manager with KPMG Canada and KPMG Ireland. Canada CPA, CA and an Irish Chartered Accountant. Luke van der Meer, P. Geo Qualified Person Luke has over 20 years of experience in mineral exploration, mining, and civil engineering. He graduated from the University of Otago in New Zealand in 2001 and started his career in underground mining with Barrick Gold in Western Australia, perfecting technical best practices in mineral exploration and resource development. Scott Margach Director Scott is an experienced Analyst and Portfolio Manager having managed both Canadian and U.S. public equities for more than 25 years including fixed-income and digital assets. As a consultant, he helped asset owners and asset managers deal with the evolving challenges related to ESG. Scott is a Chartered Financial Analyst (CFA). Charles Hethey Advisor & Counsel Charles is a securities lawyer in British Columbia and New York with over ten years of experience. He represents a number of U.S. and Canadian listed entities on the TSX Venture Exchange, Canadian Securities Exchange and U.S. OTC markets. His clients are active in a broad range of industries with an emphasis on mining issuers. Gary Prihar Director Founder of VIVA Care Medical and Move Health & Wellness. Gary is President at Move Health & Wellness and a director of Leveljump Healthcare Corp., Member of the Chartered Professional Accountants of BC, Member of the Institute of Chartered Accountants of BC and Advisor at Mandala Capital Inc.
  • 18. Investor Presentation – February 2023 / 18 Contact Us Lowell Kamin CEO and Director Alyssa Barry Investor Relations 416.272.1241 investors@lodestarbatterymetals.ca 1680 - 355 Burrard Street Vancouver, BC V6C 2G8 lodestarbatterymetals.ca TSX-V: LSTR
  • 19. Investor Presentation – February 2023 / 19 Appendix
  • 20. Investor Presentation – February 2023 / 20 Lithium & Silver Overview Lodestar Battery Metals offers exposure to both of these core EV Metals. Lithium Lithium Ion batteries have ‘won the war’ for EV use; these high-capacity, fast-to-charge batteries are found in every EV in production today and are at the heart of the EV roadmap for the future. Peny Property has the potential of lithium hosted by Spodumene. Silver Silver will continue to play an increasing role in the construction of electrical EV components and their electrical conductive properties. Lithium, nickel and cobalt are all expected to have the highest multiples of demand growth, with the need for silver remaining high for its conductive and corrosion-resistant properties.
  • 21. Investor Presentation – February 2023 / 21 Lithium Market Statistics Amid a landscape of high prices and an undersupplied market environment, Chinese refineries imported spodumene concentrates below 1.5 percent lithium oxide (0.7 percent lithium) in order to supply market needs. Surging EV demand has seen lithium prices skyrocket by around 550 percent in a year: by the beginning of March 2022, the lithium carbonate price had passed $75,000 per metric ton.
  • 22. Investor Presentation – February 2023 / 22 Historical MREs Disclaimer Historical 2007 Mineral Resources Estimate on the Peñasco Quemado Property (30 g/t Silver Cut-off Grade) Based on data available as of November 2006 Category Tonnes (Millions) Silver Grade (g/t) Silver Grade (oz/t) Silver (millions of ounces) Measured 0.123 151.9 4.88 0.599 Indicated 2.442 115.0 3.70 9.032 Measured + Indicated Total 2.565 116.8 3.76 9.631 Inferred 0.001 41.4 1.32 0.001 Historical 2008 Mineral Resources Estimate on the La Frazada Property (60 g/t Silver Cut-Off) Based on data available as of October 2008 Resource Classification Tonnes (x 1,000) Grade Silver (g/t) Gold (g/t) Lead (%) Zinc (%) Cu (%) Silver (x 000 oz) Gold (oz) Lead (x 000 lb) Zinc (x 000 lb) Cu (x 000 lb) Measured 304 259.8 0.197 0.876 2.36 0.095 2,537 1,900 5,866 15,782 635 Indicated 279 240.5 0.141 0.862 2.52 0.089 2,156 1,300 5,297 15,498 546 Total Measured + Indicated 583 250.5 0.170 0.869 2.44 0.092 4,693 3,200 11,163 31,280 1,181 Inferred 534 224.9 0.178 0.923 2.62 0.089 3,859 3,100 10,860 30,769 1,046 • Lodestar Battery Metals states with equal prominence that it is not treating the historical estimate as current mineral resources or reserves. At this time, a qualified person has not done sufficient work on behalf of Lodestar to classify the historical estimate as current mineral resources or reserves. Investors should not rely on the historical estimate as a current mineral resource estimate until it has been verified and supported in a technical report in accordance with NI 43-101. • The disclosure of this historical estimate has been reviewed by Luke van der Meer, a “Qualified Person” as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
  • 23. Investor Presentation – February 2023 / 23 Source and date of the historical estimate, including any existing technical report Information relating to these historical estimates is summarized from the following technical reports: Lewis, W.J. and McCrea, J.A., (2006), Updated NI 43-101 Technical Report and Resource Estimate for the Peñasco Quemado Silver Property, Magdalena – Tubutama Mining District Sonora, Mexico, 152 p. completed for Silvermex Resources Limited. Lewis, William, J., (2008, Amended 2009), Technical Report and Preliminary Mineral Resource Estimate for the La Frazada Silver property, El Zopilote Mining District, Nayarit, Mexico, 99 p. completed for Silvermex Resources Limited. Relevance and reliability of the historical estimate The Reports were compiled in accordance with Canadian Institute of Mining (2005) standards and best practices for Mineral Resources, adhering to NI 43-101. Silvermex established QAQC programs that were reviewed by the independent QP who accepted the data as suitable for mineral resource estimation at that time. Key assumptions, parameters, and methods used to prepare the historical estimate The Peñasco Quemado capped silver grade was interpolated using IDW method into a block model constrained by mineralized domains. Parameters used include a cut-off grade of 30 grams per tonne (g/t) silver with high-grade samples capped at 700 g/t silver. The La Frazada capped silver grade was interpolated using section-polygonal method into a block model constrained by mineralized domains. Parameters used include a cut-off grade of 60 grams per tonne (g/t) silver. Resource categories used In accordance with NI 43-101 as defined in 2011, the La Frazada and Peñasco Quemado historical estimate used the terms inferred, indicated and measured mineral resource having the same meanings ascribed to those terms by the CIM Definition Standards on Mineral Resources and Mineral Reserves. More recent estimates or data available to the issuer There are no more recent estimates available to the company on either project. Work needed to be done to upgrade or verify the historical estimate as current mineral resources or mineral reserves An independent Qualified Person has not done sufficient work to review the historical data and historical estimate to determine what further work would be required to write an updated current Technical Report in accordance with NI 43-101. It is envisaged that this will involve an update/refinement to the geologic model and grade interpolation methods. The company has currently commissioned an update Ni 43-101 report and MRE at the Peñasco Quemado Property. • In accordance with Section 2.4 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and despite section 2.2 an issuer may disclose an historical estimate, using the original terminology, if the disclosure identifies the following: Historical MREs Disclaimer (continued)