→ Business model & investment opportunity → Headline projects & exploration programs → 2015 objectives

Corporate update December 2014

Stephen Nano President, CEO & Director TSX.V: MRZ

2| MRZ: TSX-V

Cautionary StatementThis presentation contains certain statements that may be deemed “forward-looking statements”. All statements in this release, other thanstatements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events ordevelopments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are nothistorical facts and are generally, but not always, identified by the words “expects”, “plans” “anticipates”, “believes”, “intends”, “estimates”,“projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Informationinferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forwardlooking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Althoughthe Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitationand exploration successes, and continued availability of capital and financing, and general economic, market or business conditions.Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differmaterially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates andopinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update theseforward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Stephen Nano, President and CEO for the Company and a “Qualified Person” under National Instrument 43-101, has reviewed andapproved the scientific and technical information in this presentation.

MIRASOL RESOURCES

• 1999 -2013: 1.2 Billion ounces of gold mined

• Estimated that exploration has only replaced 50% of this with new minable ounces of gold

• At current production rates major producers have an average reserve base of 18 years

• Less then 25% of the discoveries made in the last decade will be producing in this time frame

Shortfall opportunity

Captive & competitive market for new discoveries

Projects with developable ounces in mining friendly jurisdiction will attract a premium

*assumes a 75% conversion of resources to reserves and a 90% recovery rate from these reserves.

Source: Retreating Discovery Rates and Reduced Exploration Spending: Potential Impacts to Global ProductionDavid Cox Denver Gold Forum September 15, 2014

Source: Retreating Discovery Rates and Reduced Exploration Spending: Potential Impacts to Global ProductionDavid Cox Denver Gold Forum September 15, 2014

Source: Gold exploration … a balancing act. Mining Journal- Special Supplement on Gold August 2014, Richard Schodde

Discovery short fall of producible ouncesProject Generators “sweet spot”

85 million ounces of gold 800 million ounces of silver19 million tonnes of copper

Average annual mine production(USGS)

Discovery Shortfall – Project Generators sweet spot

• Juniors now account for 50-60% of all discoveries made in the western world, up from <20% in the 1980’s.

• However 75% of Canadian Juniorshave less than $1 million availablefunds

• Insufficient funds to effectively explore

• Amplify the discovery short fall of these metals

→ Demand for quality projects

→ Competitive advantage for funded effective Project Generators

Junior Explorers: discovery vs funding

Source: Uncovering Exploration Trends and the Future: Where is Exploration Going? Richard Schodde, International Mining and Resources (IMARC) Conference 22nd September 2014 Melbourne

Source: Uncovering Exploration Trends and the Future: Where is Exploration Going? Richard Schodde, International Mining and Resources (IMARC) Conference 22nd September 2014 Melbourne

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Project Generator JV Business Model: a smart strategy in a challenging market

• Spread risk across multiple projects Improving potential for shareholder returns

• Lower burn rate Conserving capital structure by accessing JV partner’s capital

• Focus intellectual capital of project generator on generation Creating new business opportunities (projects)

• Leveraging diverse skill sets Access expertise & technology of JV partners

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Project Generators – Does this industry sector deliver value?20 project generator companies spanning 22 years on market

• Today’s combined market cap of CAD$1.645 billion Retained value in difficult market.

• Equity raised CAD$995.6 million Strong capacity to raise capital (good project & people).

• Current working capital CAD$285 million Well funded companies.

• Returns to share holders (sale proceeds shares + cash) CAD$1.038 billion Sale on success (discovery)

• 5 of 20 companies have sold assets. Total value realized CAD$1.363 billion Demonstrated value creation.

• Market Cap + Returns to Shareholders - Equity Raised = $1.687 billion CAD value creation

CompanyAltius Minerals Corp.Almaden MineralsAzimut Exploration Inc.Eurasian Minerals Inc.Midland Exploration inc.Millrock Resources Inc.Miranda Gold Corp.Mirasol Resources Ltd.Renaissance Gold Inc.Riverside Resources Inc.Strategic Metals Ltd.Globex Mining Enterprises Inc.Virginia Mines Inc.Kaminak Gold Corp.Evrim Resources Corp.Aurion Resources Ltd.Lara Exploration Ltd.Estrella Gold Corp.Solitario Exploration & Royalty Corp.Reservoir Minerals Inc. Information generously provided by Kyle Mclean & Alex Ruggieri of Haywood Securities

Please see full disclaimer in appendix of this presentation. This chart information is not a solicitation for

the purchase of securities, an offer of securities, or intended as investment research or advice

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Mirasol Resources: Profile of a Project Generator

• Well funded – Approx. CAD$24.1 million working capital

• Conservative capital structure 44.2 million shares outstanding

47.4 million fully diluted (3.2 m options)

• Discovery focused management & exploration team

• Delivered on business model via discovery and with sale of project

• High-calibre project portfolio:

o Five Headline Projects – large system / multiple targets / drill ready

o Rubi JV First Quantum Minerals copper-gold porphyry Chile

• New generative program & parallel project acquisition search

Mirasol is primed for the next discovery

Review of headline projects & exploration programs

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Mirasol Property Portfolio Chile / Argentina • High calibre Project Portfolio• 100% Mirasol owned projects• Frontera earn-in JV • Gold silver copper• Geographic focus

Mirasol’s new Atacama – Puna Generative program

950km of under explored Miocene volcanic arc

Bolivian

Silver Tin

Belt

Alumbrera

Agua Rica

Porphyry

Copper Gold

District

Southern

Porphyry

Copper Belt

El Indio

Epithermal

Gold Belt

Maricunga

Epithermal

Porphyry

Gold Belt

Mio-PlioceneVolcanic Arc

Mirasol

Gorbea belt &

Frontera JV

area

Mirasols

Atacama/Puna

Generative

Program

Mirasol Rubi / Fqm JV

CopperCopper / Gold

GoldSilver

MirasolAtlas / Titan

Choquelimpie

Gold Deposit

• New “concept driven” generative programMirasols core strength

• Atacama (Chile) – Puna (Argentina)encompasses Mirasol’s Gorbea Belt & Frontera JV

• Targeting giant gold / silver / copper deposits of the Mio-Pliocene and Oligocene arcs

• Applying leading edge geoscience & high calibre field geology to focus on priority targets

• Initiated desk top studies in October 2014Field follow-up of first targets underway

Short term → “smash & grab” open groundtargets

Longer term → framework for companybuilding strategy & to deliverpipeline of new projects

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Mirasol Chilean gold silver copper projects

The Frontera JV earn-in deal terms.

Mirasol can earn a 51% interest in any, or all, of the exploration properties byexpending US$3 million within four years from December 26, 2012.

After vesting, each party will contribute in proportion to its equity position or dilute.

Should a discovery be put into production, a 1.5% net smelter return royalty (“NSR”)is payable by Mirasol to its JV partner from Mirasol’s percentage of production,capped at 51% of total production.

If either party dilutes below 10% interest, ownership will convert to a 1% NSR.

• Rubi JV with First Quantum MineralsClaims 13,659 haCopper gold porphyry mineralisation→ Drilling in progress

• Gorbea Belt 9 x 100% Mirasol owned projects Claims totalling approx. 20,700 haHigh Sulphidation epithermal gold - silver→ JV offers received

• Frontera earn-in JV 15 projectsClaims totalling approx. 22,400 ha High Sulphidation epithermal gold – silver & porphyry copper gold→ Aggressive reconn program underway

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Atlas Project100% Mirasol Owned

El Dorado Project100% Mirasol Owned

Titan Project100% Mirasol Owned

• 9 x 100% owned projects

• Additional contiguous claims from Frontera JV

• Adjacent headline Mirasol projects Atlas &

Titan

• New, large, outcropping gold –silver systems

• Multiple drill target defined

Gorbea Gold Belt: Atlas & Titan Projects, Chile2 adjacent head line projects / excellent results / good Access / workable Altitude

ASTER Alteration processing

Mirasol 100% owned PropertiesFrontera JV properties

Preferential Exploration right 2nd Tier Exploration rights

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Atlas Project – Gorbea gold belt, Chile

AGZ

ASZ

1 to 50.40.25 to 10.10 to 0.250.05 to 0.100.01 to 0.050 to 0.01BDL to 0R

ock

Chi

p A

ssay

sby

Gol

d Eq

uiva

lent

Au+

Ag/

55

50. 3 / 5.2 30.7 / 42.3 16.8 / 43.9

5 0 . 3 / 5 . 2

Labelled Rock Chip Results

Silver (g/t)Gold (g/t)

Best 3 Rock Chip SamplesFrom beginning of project to June 2014

Gold / Silver (g/t)By Gold By Silver

0.01 / 24700.08 / 6390.06 / 592

0.01/24700.02/592

0.15/415

Areas of Gold/Silver Anomalous Rock Chips

50.3/5.2

16.8/43.930.7/42.3

0.08/639

AtlasSilver Zone

Atlas Gold Zone

0.01/377

0.3/0.1

0/70.70/56.50/43.6

0.01/14

0.06/492

Pampa Zone

By G

old 2.91/1.9

1.14/2.11.32/5.7

By S

ilver 0.06/421

0.05/3860.08/248

Pleiades Base Imagery

IP Resistivity50m Depth Slice

Pleiades Base Imagery

10 500100

IP 50m Depth Slice: Resistivity (Ohm-m)

1000

NEW PAMPA ZONEAnomalous Rock Chip to2.91 g/t Au & 421 g/t Ag

ATLAS GOLD ZONERock Chips up to 50.3 g/t AuGold in trench channels

ATLAS SILVER ZONERock Chips to 639 g/t AgSilver in trench channels

NEW OCULTO ZONEcovered resistive zone. Outcrops of strong quartz-alunite alteration

Large gold-silver system / high grade rock chip assays & geophysical anomalies / drill targets defined

MRZ Atlas Project 7020 Ha

Atlas Rock Chips

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1 to 50.30.25 to 10.10 to 0.250.05 to 0.100.01 to 0.050 to 0.01BDL to 0

Rock Chip Assaysby Gold (g/t)

Trench Collar & Trace

50m IP ResistivityContour Line

500

10

100

1000

50m

IP (o

hm m

eter

s)R

esis

tivity

Dep

th S

lice

50.3/5.24

30.7/42.3

16.75/43.9

7.72/28.5

5.05/23.4

7.03/0.37

8.96/44.77.46/56.9

Magnetic Structure

50m IP Resistivity Depth Slice

Labelled Rock Chip Results,

greater than 5.0 g/t Au

Silver (g/t)Gold (g/t)

5 0 . 3 / 5 . 2 4

Funnel Shaped Resistive Bodies

Feeder Zone/Buried Dome?

Mirasol Atlas Project-7020 Ha

AGZSantiago

Antofagasta

Mirasol Atlas Project

Location Overview: Tenure Overview:

Atlas Gold Zone – Priority Drill Targets Defined • AGZ prospect surface rock chip samples

define an 800 by 500 m area with anomalous gold/silver

• 55 samples in the range 1-50.3 g/t Au. outline multiple NW trending vuggy silica structures.

• AGZ gold structures traverse 1.1 km long trend with highly resistivity bodies

• New trench channel of vuggy silica structures & breccias, assay:8.4 m @ 1.85 g/t Au,11.3 m @ 1.32 g/t Au and14.9 m @ 1.67 g/t Au

→ AGZ priority drill targets

Late stage barite vein common in vuggy silica

structures from 3.27-8.85 g/t Au

Breccia vuggy silica clasts re-brecciation

and leach clasts with late fill of pink alunite,

up to 5.07 g/t Au & 7.95 g/t Ag in TR-02

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Atlas Silver Zone & Oculto target – Priority Drill targets Defined

Upward flaring phreatic-hydrothermal breccia

with selective clast samples up to 542 g/t Ag,

North end of trench

Polylithic hydrothermal breccia silicification

clasts with silver sulphosalts acanthite,

assays up to 144.7 g/t Ag

Ignimbrites with flooded pervasive quartz

opaline silica and sulfide/sulfosalts in select

samples up to 519 g/t Ag

Mineralization with Breccias & silica sulphide replacement

Length weighted average channel sampling at end of trench

55.9 M at 39.9 g/t Ag

Best individual channels0.35 m at 609 g/t Ag 0.2 m at 542 g/t Ag 0.7m at 261 g/t Ag

Large scale covered drill targets indicated by geology & geophysics

→ Priority drill targets Atlas Silver ZoneOcuto Zone

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Titan Gold Project – Gorbea Belt Chileencouraging oxide gold results from 1st round of drilling

• 700 by 660 m zone of anomalous gold outlined in trenches & rock chips

• Best trench intersections:194 m @ 0.41 g/t Auinc. 31 m @ 1.36 g/t Au10 metres @ 2.13 g/t Au

• Scout drill program with encouraging oxide-gold intersections:18 m @ 2.16 g/t Auinc. 10 m @ 3.85 g/t Au10 m @ 1.87 g/t Auinc. 8 m @ 2.24 g/t Au

→ Three drill target styles identified

Oxide intersections follow-up drilling

Conceptual hypogene epithermal

Conceptual porphyry copper - gold

600 by 700 m area of anomalous

gold from rock chip & trenching

associated with magnetic high

conceptual porphyry copper –gold?

Base Imagery:

Worldview-2 (ESRI 2012)

Frontera JV earn-in Project

Mirasol Titan Project Area

LEGEND ASTER Alteration

AluniteIlliteKaolinitePyropyllite

Ground Magnetics (ASVI)

HighLow

Joint Venture Earn-in Claim

100% Mirasol Titan Project

700 by 660 m zone of anomalous gold outlined in trenches & rock chips

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Rubi copper - gold JV Chile - First Quantum Minerals

See news release 24th February 2014

• Strong JV terms

yr1 US$ 1.5 million minimum spend, 3000 m of drilling property wide magnetics

yr4 earn in 55% US$6.5 million & US$1.1 million in cash payments

+2 yrs to 65% NI 43-101 compliant Indicated Resources

+2 yrs to 75% Decision to mineFinancing Mirasol 25% interestPayback from 50% Mirasol cash flow

• Aggressive surface exploration program by First Quantum

Multiple drill targets

Drilling started 14 October

Adjacent to world class El Salvador - Potrerillos porphyry cluster

Mine or adv. Project

Primarily GoldPrimarily Copper

Rubi – El Salvador District

Rubi

Property

Potrerillos PorphyryDistrict22 250 Mlbs Cu & 25 Moz Au

El Salvador Porphyry District37 500 Mlbs Cu & 12 Moz Au

1

2

3

4

7

6

5 8

1. Lithocap (Glenlivet)2. Pampa NE3. Corner Zone4. Pampa Central5. Eastern Zone (Wild Turkey)6. Pampa Central Offset7. Lithocap West8. Portezuelo

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Cerro Morro

1.1 Moz Au & 65 Moz Ag

Properties

San Jose

1.5 Moz Au & 103 Moz Ag

Cerro Negro

7.1 Moz Au & 62 Moz Ag

Cerro Vanguardia

8.9 Moz Au & 137 Moz Ag

Manantial Espejo

0.7 Moz Au & 54.5 Moz Ag

Pinguino

25.5 Moz AgJoaquin

65 Moz Ag

Las Calandrias

0.4 Moz Au & 7 Moz Ag

Base Imagery: ASTER GDEM

50 km0

Global Resources Size & Commodity

Giant

Large

Medium

Small

Gold

Silver

Mirasol Projects Mine Jurassic Igneous Rocks

Prospective Geology

CLAUDIA

LA CURVASANTA RITA-

VIRGINIA

Cap Oeste

0.9 Moz Au &

28 Moz Ag

• Santa Cruz: Highly prospective gold – silver epithermal terrain

• Mirasol commanding claimsposition

• 23 x 100% owned projects

• 3 headline projects

• Claudia: adjoins Anglo AshantiVanguardia gold mine

• Curva: new multi-prospect gold district with no drilling

• Virginia: high grade silver in7 shoots. NI-43-101 resource report commissioned

→ JV partner process initiated

Mirasol Argentine gold silver projects

Cerro Morro

1.1 Moz Au & 65 Moz Ag

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Claudia Gold & Silver – Santa Cruz ArgentinaExtension of AngloGold - Ashanti Cerro Vanguardia Vein System - Mine

• 5 epithermal prospects with extensive surface & trench gold-silver results

• New drill targets defined by geophysics/rock chip assays at 14 km long Curahue trend

• Rio Seco vein zone new geophysics outline new priority drill targets

HighLow

Magnetic Grid

Gold EquiliventAu + Ag / 55 (g/t)

LEGENDRio SecoNew drill targets defined

R T P G r o u n d M a g n e t i c s

CilineNew prospect

AngloGold AshantiVanguardia Vein Field

Laguna Blanca

Ailen

Curahue South

9 136

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• Strategic project in new gold district

• Four large gold-silver prospects identified / no previous drilling

• Potential for high-grade & bulk mineable gold mineralization

• 6 km long La Castora gold trend with 3 separate prospects defined by gold-silver

assays / geology & geophysics

• Drill-ready targets at Chato, Arthur & Southwest prospects

Curva Gold & Silver – Santa Cruz Argentina

Mirasol La Curva – 36 600 Ha

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Virginia & Santa Rita silver – Santa Cruz Argentina

Virginia Prospect

Santa Rita Project

Santa Rita Main

Santa RitaEast

Sol de Mayo

Lejano

110 km toLas Herras

Santa Rita (Virginia) property boundary

Ground Magnetics (RTP) background10 Priority drilling targets

11 Priority trenching targets

Continuous vein outcropdiscontinuous vein outcrop/subcrop

Mineralised Structures

Vein Shoots best downhole intersection

Targets

Drillhole

Legend

Ely North96.14m @ 55g/t Aginc. 2.75m @ 419g/t Ag

Martina15m @ 245g/t Aginc. 5.26m @ 530g/t Ag

Ely South28m @ 195g/t Aginc. 4.6m @ 493g/t Ag

Julia South13m @ 215g/t Aginc. 1.3m @ 742g/t Ag

Julia Central41.45m @ 200g/t Aginc. 6.61m @ 669g/t Ag

Julia North37.6m @ 312g/t Aginc. 5.5m @ 1843g/t Ag

Naty28.3m @ 230g/t Aginc. 3.7m @ 1402g/t Ag

Other targets for follow up

• 7 high grade outcropping shootsdrill defined

• Attractive metallurgy from shootsin initial test work

• NI-43-101 resource report commissioned

• New undrilled targets identified adjacent to known shoots

• Part of larger silver district includesMirasol Santa Rita & Coeur Lejando projects

Mirasol 2015 Objectives

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Mirasol – Forward focusFocus on our core business model – Project Generator JV company

o Chile focus of our spend / project generation / project exploration o Argentina represents a counter cyclic investment opportunity

Re-build our generative pipeline

o Chile & Argentina: Concept driven generation & project acquisition o Argentina: Santa Cruz strategic consolidation in key districts / low

holding cost

Accelerate JV deals on headline projects - release value to our shareholders via discovery – Gorbea Belt & Argentine headline projects

Slow the burn rate – targeting corporate + exploration spend totarget window of US$6.1 - 5.5 million for FY 2015

Improve information flow to our shareholders and the Market so they can make informed investment decisions

Evaluate accretive business opportunities

24| MRZ: TSX-V TSX.V: MRZ

• Well funded – Approx. CAD$24.1 million working capital (Cash)

• Conservative capital structure - 44.2 million shares outstanding

- 47.4 million fully diluted (3.2 m options)

• High-calibre project portfolio:

o Five Headline Projects – large mineral system / multiple drill targets

o Rubi JV First Quantum Minerals copper-gold porphyry Chile

• Discovery focused management & exploration team

• Successful Project Generator : discovery to liquidity event