Investor Presentation

1. Investor Presentation Q4 2013

2. Disclaimer This presentation by Medallion Resources Ltd. (“the Corporation”) is for informational purposes only and does not constitute a solicitation or offer to sell securities. This presentation contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include, without limitation, statements based on current expectations or other assumptions that involve a number of risks and uncertainties. Forward-looking statements and information are not guarantees of future performance of the Corporation. Forward-looking information is subject to risks and uncertainties that may cause actual results, and the Corporation’s plans and objectives to differ materially from those expressed in the forward-looking information. Such risks and uncertainties are detailed in the Corporation’s public filings available on SEDAR. Actual results and future events could differ materially from those anticipated in forward-looking information. These, and all subsequent written and oral forward-looking statements are based on estimates and opinions of management on the dates that they are made and expressly are qualified in their entirety by this notice. The Corporation assumes no obligation to update forward-looking information, should circumstances or management’s estimates or opinions change.

3. Contents Company Snapshot Industry Insights Rare-earth pricing Rare-earth demand Monazite Concentrate Production Strategy Fast-Track Strategy Environmental Medallion Approach Management Advisors Investment Summary

4. Medallion Resources Company Snapshot • Has a rare-earth production strategy that takes a direct approach to rare earths – importing monazite and processing it in Oman. • Is led by Dr William Bird—a recognized rare-earth-industry leader. • Recently announced partnership MOUs with: • Oman state-owned Takamul Investment Company,as a joint-venture equity partner in a proposed facility in Duqm, Oman. • Arab Mining Company, a Pan-Arab mining-industry investor keen to exploit rare-earth processing opportunities. • Plans to process the readily available rare-earth phosphate mineral monazite: • Original rare-earth source with simple metallurgy. • Available as a by-product material from heavy-mineral-sands miners. • Has a fast-trackrare-earth production strategy, with few technological challenges and a small capital requirement.

5. Industry Insights • For 30 years, encouraged by good geology and state support, China built a world-dominating rare-earth industry. However, in 2010, the Chinese government implemented changes: • Imposed export quotas and taxes, enforced new environmental regulations and directed state-owned enterprises to consolidate rare-earth production and processing. • Directed key mining industry, for industrial policy purposes, to support value-added benefits of the high-tech manufacturing sector. • The Rest of the world responded with an attempt to explore and develop known rare-earth occurrences: • Many marginal exploration projects were funded — up to 300 at one point. • Two advanced projects (Molycorp and Lynas) were fully funded and are now getting to production.

6. Rare-Earth Prices Up . . . Then Down Industry Insights

7. Industry Insights • New supply capacity, outside of China, has been constrained due to: • Significant metallurgical challenges. • High capital costs for new mines, processing and infrastructure. • Insufficient funding. • Virtually all of China’s heavy rare earths (HREE) come from an unusual geological setting in South China—there are no magic bullets to significant HREE production. • Current supply and demand is in balance; however, future demand for rare earths cannot be met by China alone. • The by-product monazite represents the best rare-earth opportunity to deliver significant amounts of the key elements used in permanent magnets: Neodymium and Praseodymium.

8. Evolution of Market Distribution of REE Demand Industry Insights

9. Monazite: Major Rare-Earth Mineral Monazite Concentrate • Aphosphate mineral containing 50-60% rare earths. • The world’s original commercial rare-earth source, simple and well-understood metallurgy. • Significant quantities are concentrated during heavy-mineral-sands processing – currently monazite is discarded or stockpiled. • Major heavy-mineral-sands producers are: • Focused on titanium and zircon • Not interested in the rare-earth industry, which involves chemical rather than physical processing * Source: US Geological Survey

10. Monazite Concentrate

11. Countries with 50,000+ tonnes of Monazite Sources Monazite Sources Make Oman green 80% of the world’s monazite is produced in the Indian Ocean basin Source: US Geological Survey

12. Production Strategy • Medallion is convinced that projected global rare-earth demand in the near and medium term cannot be met through Chinese production or development of known hard-rock occurrences: • Hard-rock, rare-earth metallurgy is very complex. • Many projects lack infrastructure. • Capital costs can become prohibitive. • US Geological Survey confirms monazite is a major source of potentially economical rare earths. • Medallion is actively pursuing monazite-processing partnerships and monazite purchase agreements to advance its rare-earth production strategy. • Based on critical success factors, Medallion selected the industrial city of Duqm, Oman for a proposed large-scale monazite-processing facility.

13. Critical Success Factors: Duqm, Oman Facility Production Strategy Backed by sovereign-funded partners, Medallion is positioned to fast track an expected high IRR project and reset the global rare-earth marketplace. • Compresses what is typically an 8-12 year development cycle into 2-3 years. • Creates a Middle East facility that could emerge as one of only a few significant non-Chinese producers. • Proximity to monazite feedstock. • Excellent port and infrastructure. • Low-cost energy and chemicals. • Industry-friendly government. • Capital available to fully fund such projects.

14. Milestones 2012-2013 Production Strategy

15. Rare-Earth-Production Flow Fast-Track Strategy

16. A Pro Forma Rare-Earth Facility 10,000 tonnes/year of rare-earth-oxide output Fast-Track Strategy

17. Building a Safe Rare-Earth Facility Environmental • Medallion is committed to following best-practices and accepted international environmental and safety standards. • SENES Consultants investigated issues associated with monazite processing and concluded that, with proper design and operation (including radiological protection at critical points), there are no significant safety or environmental concerns. • All rare-earth deposits have radioactivity issues. • Monazite today is processed in China and India; Brazil and Russia are planning processing. • The management and storage of monazite processing wastes will be handled safely. • In August of 2013, an Environmental Impact Assessment (EIA) was initiated to investigate environmental impact in the jurisdiction of Oman.

18. Fast-Track Strategy Medallion Approach GWG TASMAN QUEST MATAMEC RARE ELEMENT FRONTIER AVALON ALKANE ARAFURA NAMIBIA STANS PEAK NORTHERN Many more … MOLYCORP LYNAS Source: JP Morgan, IMCOA, Company reports MEDALLION MIDDLE EASTPARTNERING SOVEREIGN BACKING         TURNKEY INFRASTRUCTURE REGULATORY SUPPORT      LOCAL DEBT FINANCING

19. Management • William H Bird, PhD, PGeo Chairman, CEO & Director 40+ years in mineral exploration. He is a recognized rare-earth expert with a worldwide rare-earth technical network. • Donald M Lay, BSc. President & Director 15+ years of international experience in public and private venture-capital and project funding. • Tom Arnould, CA CFO & Corporate Secretary 30+ years in mergers and acquisitions and senior finance roles. • SothiThillairajah, MBA General Manager, Middle East20+ years in international finance. He is well-connected throughout Indian Ocean basin. • Warwick Bartle, Director, Feedstock Acquisition50+ years in international mineral sales and marketing of monazite, titanium minerals and zircon.

20. World-Class Talent Advisors • Anthony Mariano, PhD—Internationally renowned rare-earth consultant, 50+ years experience in mineral exploration, former advisor to MolycorpInc and currently advises Rare Element Resources Ltd and other potential rare-earth producers. • James Clark, PhD, LGeo—VP Exploration for Rare Element Resources Ltd, 30+ years experience in geology and mineralogy of rare earths and rare metals, including work with Molycorp Inc. • Dennis LaPoint, PhD, LGeo—Consulting Geologist previously with Alcoa Inc and Cambior Inc, 40+ years experience in the geology and exploration of bauxite and precious, base and rare metals. • David Shaw, PhD, PGeo—Consulting Geologist, Director of Talison Lithium Limited, former Chairman Salares Lithium Inc, 30+ years in exploration and mining finance with expertise in South America. • Bob Roe, MS Geosciences—Consulting mineral-exploration geologist, formerly with Rio Algom, Phelps Dodge, Essex International and Kerr McGee Corporation, 30+ years experience in heavy-mineral-sands deposits.

21. Looking Forward

22. Investment Summary • Medallion possesses significant intellectual horsepower in a complex industry. • In the race to produce rare earths outside of China — Medallion does not have any significant technological or financial challenges. • The Gulf States offer an ideal location; modern infrastructure and governments who see rare-earth processing as a key industry in a post-petroleum world. • Medallion’s selected regional partners — Takamul Investment Company and Arab Mining Company — represent significant financial and development capabilities, and a shared vision to create a rare-earth processing facility in Oman. • Production is all that matters — Medallion has clear advantages with a unique, economical, and short-term rare-earth strategy.

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