Investor Presentation January 2015

Company Overview

“Lead Project Generator”

Mineral Exploration:

• Precious Metals and Base Metals

• Strategic Focus on Rare Metals and Rare Earth Elements

Proven Business Model:

• Early Identification and Acquisition of Mineral Prospect

• Royalty Investment Assets

• Selectively Advance Projects Internally

• Employ JV Partnerships to Diversify Costs and Risk

• Maximum Value Achieved Over Minimum Period of Time

65% Owned by Insiders and Management

Experienced Management Team

Company Summary

• TNR Gold is a Royalty Investment and Project Generator Company

• TNR holds a 0.4% NSR to Los Azules, Argentina , a World Class Cu-Au deposit

• TNR concentrates its exploration efforts in Base, and Rare Earth Metals with a strategic

Holding (25.5%) of a Lithium-Rare Metals company (International Lithium)

• Mineral Exploration Rights to Nuiklavic Project in Labrador, Canada.

• Proven Business Model: “Lead Project Generator”

Early Identification and Acquisition of Opportunities

• Hybrid Joint Venture Business Plan: Selectively Advance Projects Internally + Employ JV

Partnerships to Diversify Costs and Risk

• 65% Percentage Owned by Insiders and Experienced Management Team

Company Share Structure

Trading Symbol: TNR : TSX

Issued: 148 Million

Fully Diluted: 162 Million

Listing: TSX-V

Management and Insiders: 65%

Institutional Holdings: 14%

Transfer Agent: ComputerShare

Management and Directors

• Gary Schellenberg, B.Sc. (Geol.), President, CEO

• Jerry Bella, CGA, CFO

• Roberto Lara, Managing Director (South America)

• John Harrop, P.Geo, VP Exploration

• Anthony Kovacs, COO

• Dr. Frederick Breaks P.Geo, Special Adviser to Board

• Gary Schellenberg, B.Sc. (Geol.) – Executive Chairman of Board

• Kirill Klip, MBA – Non-Executive Chairman of Board

• Greg Johnson B.Sc.– Director

• Paul Chung, B.Sc. (Geol.), MBA - Director

Directors

Management

Actively Sourcing Additional Opportunities

Project Locations

Vancouver

Shotgun

ALASKA

ARGENTINA

Los Azules

Gold Corp.

LEGEND

Au

Au-Cu

Office

Nuiklavik, REE Project, NL

Argentina Au – Cu Projects

Los Azules

Los Azules – Regional Advantage

• Los Azules is 6 km east of the Chilean-Argentine border. • The deposit is located on a copper porphyry belt host to some of the world's largest copper

mines including Codelco's El Teniente mine (world's largest underground copper mine), Anglo American's Los Bronces mine, Antofagasta's Los Pelambres mine and Xstrata's El Pachón project. Source: www.mcewenmining.com

Los Azules - Location

Los Azules – Settlement Terms

1. TNR will receive a 0.4% net smelter returns royalty (NSR) in respect of the entire Los Azules Project

2. McEwen issued TNR 850,000 common shares

3. McEwen will pay TNR 1% of any purchase price paid to and received by McEwen in respect of any sale, assignment of transfer of all of its interest in the Project, to a party other than to an affiliate of McEwen, on or before the third anniversary of the Transfer Agreement.

* In the initial settlement TNR had a Back-in Right for up to 25% of the equity in certain claims comprising the northern portions of Los Azules. The Back-in Right

was exercisable after the completion of a bankable feasibility study. To exercise TNR would have had to pay two (2) times the expenses attributable to the back-in percentage (ie. paying 2 x 25% all of the costs attributable to the claims comprising the northern portion of the property). Upon backing-in, TNR may have elected to continue to participate in the project or be diluted down to a 0.6% NSR on the same claims comprising the northern portion of the project.

TNR Gold Corp. and McEwen Mining Inc. Agreed to Convert TNR’s Back in Right* to a

NSR on the Los Azules Copper Project, Argentina Terms:

Los Azules - Highlights

• Los Azules is one of the world's largest undeveloped copper deposits.

• McEwen Mining began a 15,000 meter drill program starting in October 12, 2012

• The property encompasses 50,933 acres and surrounds a large alteration zone that contains the resource which measures approximately 4 kilometers long by 1.5 kilometers wide.

Source: www.mcewenmining.com

Los Azules – Deposit Outline

Source: www.mcewenmining.com

• Donlin, owned by Barrick and NovaGold, has M&I resources of 39 million ounces gold*.

1. Shotgun (Au)

Donlin Style intrusion

associated gold

Alaska Projects

*Novagold website

Shotgun

Pebble

Donlin

Fort Knox

Pogo

Shotgun Project, Alaska

Inferred Resource Estimate *: Shotgun Resource Estimate - modelled at an ~ 0.3 to 0.5 g/t cut-off.

* The Shotgun Ridge prospect contains an inferred mineral resource of 20,734,313 tonnes at 1.06 grams per tonne (“g/t”) for a total of 705,960 ounces gold (“Au”) using a 0.5 g/t Au cut-off. The inferred mineral resource estimate was prepared by Allan Armitage, PhD., P.Geol., of GeoVector Management Inc., a Qualified Person as defined by the Canadian Institute of Mining (CIM) Definition Standards for Mineral Resources and Mineral Reserves and the National Instrument 43-101 Standards of Disclosure for Mineral Projects. The Shotgun Zone mineral resource estimate, publicly reported on April 22, 2013, is based on 34 diamond drill holes (NQ) totalling 4,932.3 metres, with 2,481 assays (0.2 up to 10 metres in length). Holes were drilled by several operators in five drill campaigns conducted between 1984 and 2012. The 34 drill holes are spaced primarily 40 to 100 metres apart in an area of approximately 375 x 300 metres. The drill holes tested mineralization to a vertical depth up to 150 metres. A resource model for the Shotgun Zone was constructed based on the distribution of the gold mineralization (> 0.3 to 0.5 g/t Au) and this model was used to constrain the composite values chosen for interpolation. A block model with block dimensions of 5 x 5 x 5 metres in the x, y and z directions was placed over resource model solids with only that proportion of each block below the topographic/overburden surface and inside the solid recorded. Grades for gold were interpolated into the blocks by the inverse distance squared (“ID2”) method using a minimum of 2 and maximum of 12 composites to generate block grades in the Inferred resource category. The search ellipse used to interpolate grade into the blocks measured 110 x 60 x 110 (Principle Az – 235°, Principle Dip - 25°, Intermediate Az.- 325°). The size and orientation of the search ellipse approximates the strike, dip and thickness of the resource model and takes into account the limited drilling and relatively wide spacing of the drilling. There are currently no known encumbrances with regards to legal, political, environmental or other risks that could materially affect the potential development of the Shotgun Ridge prospect, and however, the EPA is conducting an environmental review of the Bristol Bay watershed in response to the proposed development of the Pebble Deposit, approximately 150 kilometres to the southeast of Shotgun Ridge. The mineral resources reported herein are classified as inferred mineral resources according the CIM Definition Standards for Mineral Resources and Mineral Reserves. No economic studies were undertaken on this mineral resource estimate and it should be noted that mineral resources are not mineral reserves and there is no guarantee that the current mineral resource at Shotgun Ridge will result in an economically viable deposit.

Au Cut-off Tonnes Grade (g/t) Ounces

0.3 g/t 24,509,842 0.96 759,442

0.5 g/t 20,734,313 1.06 705,960

0.7 g/t 14,779,225 1.24 590,600

1.0 g/t 9,101,458 1.49 437,365

Exploration History – Shotgun Ridge

1998 mineralization is interpreted to have a “cap” or inverted bowl shape

2006 mineralization reinterpreted as structurally controlled with deep feeders

Structurally controlled “Southwest Dipping Mineralized Zones” identified

IP and resistivity surveys highlight gold mineralized breccias (hornfelsed sediments and porphyritic intrusive)

2012 drill program designed to test predictability of mineralized zones

Mineralization model confirmed

Camp 25 k

m

Shotgun Ridge – 2012 Drilling Program

• 12-56 returns 242m of 1.25g/t Au over all three mineralized zones

• 12-57 returns 209m of 1.02g/t Au over all three mineralized zones

• 12-58 returns 46.55m of 1.14 g/t Au (hole ended prior to intersecting MID and NE-zones)

27.4m of 2.3 g/t Au

NE-

Zone

Mid-

Zone

SW-

Zone 22m of 2.86 g/t Au

18.4m of 2.03 g/t Au

open

Shotgun Ridge – 2012 IP Surveys

• Mineralization in 12-57 shows NE Zone continuing down-dip in structure defined by IP

• 12-58 shows elevated gold grades encountered down-dip in SW Zone

• Mineralization is open at depth and near surface – relative chargeability low

NE Zone

SW Zone

open ?

?

Shotgun Ridge – Understanding Targets

Generalized Geology at Shotgun Ridge

3D IP level plan at 600m elevation

1500m

Qtz-feldspar porphyry

Kuskokwim Sediments Targets are defined by structural interpretation & 3D IP surveys

• NE trending structures w/ strike slip movement

• Mineralization mostly in QFP breccia zones, sub parallel to ridge topography

• Structural repetition interpreted from geophysics

• Opportunity to significantly expand resource

• Mineralization open at depth

?

?

Shotgun Project - Opportunity

Camp Scale Opportunity

Shotgun Ridge is just one of multiple gold target areas

Gold mineralization identified at each prospect: Shot, King, and Winchester

This group of prospects forms a distinct gold district held 100% by TNR

Surface geochemistry identifies multiple gold anomalies with no known source

Poor outcrop limited prospecting efforts in the past

IP surveys identify mineralized areas

25 k

m

Lithium & Rare Metals

Spin-out

Listed May 24, 2011

International Lithium Corp. (ILC:TSX.V) TNR Gold holds 25.5% Equity Stake

TNR Identified and Acquired International Portfolio of Lithium Brines and Rare Metal Pegmatites

San Juan LEGEND

Li - Brine

Li - Pegmatite

Office

Vancouver Mavis Lake

Ontario

Mariana

Argentina

Blackstairs

Ireland

Page 22

International Lithium Corp. (ILC:TSX.V) TNR Gold holds 25.5% Equity Stake

160 km2 One of the Most

Prominent Salars In a World Class Region

Mariana Lithium-Potash Brine , Argentina

78 metre Pegmatite Intersection* 1.86% Li2O over 26.25m,

1.22% Li2O over 28.45m and 1,924 ppm Rb2O% over 78m

Mavis Lake Rare Metals, Ont.

High Grade Boulder Field Discovery: 4.59%, 3.45% and 3.27% Li2O grab samples

Indicating buried pegmatite**

Blackstairs Rare Metals, Ire.

Boulder Distribution

**News Release for International Lithium Corp. (TSX.V:ILC) dated January 31, 2012. Grab samples are by definition selective and are unlikely to represent average grades on the property.

* News Release for International Lithium Corp. (TSX.V:ILC) dated January 12, 2012. The true width of the pegmatite intersection has not been determined and no inference to that effect has been made.

Critical Element REE Project in Labrador

• 100% ownership by TNR (exploration rights through staking)

• Flowers River Igneous Suite is located in Newfoundland and Labrador, Canada

• The area totals 2,050 hectares

• Approximately 25 kilometres from tidewater and 50 kilometres west of the community of Hopedale

• Next step in TNR’s strategy to identify and generate high value projects

• For full details please see August 11, 2014 news release

The Nuiklavik Project

Nuiklavik REE Project, Labrador

JV Partnership Project Submission

Financing

We welcome your inquiries Investor Relations hub

http://www.tnrgoldcorp.com/s/StockInfo.asp

Investment in TNR

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projects!

Contact Us Today

Info @ tnrgoldcorp.com Address P.O. Box 11604, 620 - 650 West Georgia St.

Vancouver, British Columbia, V6B 4N9, Canada

Caroline Klukowski Phone: 604-687-7551

Fax: 604-687-4670 ck@tnrgoldcorp.com

Disclaimer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this presentation. Statements in this presentation other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company’s future plans and objectives or expected results, are forward-looking statements. This presentation contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results might vary materially from those described in this presentation. Readers should verify any & all claims and do their due diligence before investing in any securities mentioned. Investing in securities is speculative and carries a high degree of risk.

Disclosure John Harrop, PGeo, FGS, Vice President of Exploration of the Company is a "Qualified Person" as defined under NI 43-101 has reviewed and approved the technical content of this document.