Nickel Rock Resources : Investor Presentation v1.12 2020 12 16

28Ni

Nickel

3 Li

Lithium

A Canadian Battery Metals Exploration & Development Company

TSXV:NICL | OTCQB:NIKLF | FRA:NMK2	Investor Presentation: Winter 2020

DISCLAIMER

Nickel Rock Resources Inc. ("Nickel Rock" or "the Company"), has taken all reasonable care in producing and publishing information contained in this presentation, and will endeavour to do so regularly. Material in this presentation may still contain technical or other inaccuracies, omissions, or typographical errors, for which the Company assumes no responsibility. Nickel Rock does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information in this presentation. Under no circumstances, including, but not limited to, negligence, shall Nickel Rock be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material in this presentation. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information, images and maps in this presentation, unless you have obtained written permission from the management of Nickel Rock.

No securities commission or other regulatory authority has in any way reviewed the information in this presentation and Nickel Rock makes no representation or warranty to that effect.

Forward-Looking Statements

This presentation contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. While Nickel Rock has taken reasonable care to ensure that information presented in this presentation is current, the Company expressly disclaims any responsibility to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Third Party Links

Nickel Rock has provided links and/or URLs in this presentation to several other websites which are arms-length to the Company. The viewer should be aware that in linking to these outside websites, they are leaving the Nickel Rock presentation and that the Company is not responsible for the content of any other website.

Qualified Persons

Jacques Houle, P.Eng., is the Q.P. who has reviewed and approved the technical contents of this presentation. Qualified Persons are defined in National Instrument 43-101 and based on standards established by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM).

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 2

COMPANY & DISTINCTION

Nevada Energy Metals Inc. is a Canadian based exploration company focused on green energy, high-value battery metals required for the electric vehicle (EV) market.

• Closed private placement Q3 2020 for gross proceeds of $1M CAD
• $1.1M CAD in treasury
• Recently acquired significant property package that's prospective for awaruite, a naturally occurring nickel-iron alloy important in the manufacture of environmentally- friendly EV batteries

Modern. Green. Highly Efficient.

Like the next-generation battery metals industry, we're committed to lowering our carbon footprint. We work remotely or at our shared office environment.

Our low overhead is in sharp contrast to yesterday's less effective corporate models and contributes to retaining and enhancing shareholder value.

Trading Symbols

TSXV OTCQB FRA

NICL NIKLF NMK2

Awaruite: naturally occurring nickel-ironalloy

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 3

TEAM

We've assembled a corporate team and group of advisors that represent extensive experience in mineral exploration and development, raising capital, and building successful businesses.

Robert Setter, President & CEO

20+ years of business development, marketing and resource experience. Former Senior Financial Editor for Report on Mining. On the boards of 3 other listed mining companies.

Ali H. Alizadeh, Director

Senior geologist with extensive experience in exploration and project management. Responsible for a number of Uranium, Gold and Base Metal exploration projects during his career.

Jay Oness, Director

20-year career as Director, senior executive and consultant to publicly traded resource and non- resource companies. Currently VP, Bus/Corp Dev of Southern Silver Exploration Corp.

Simon (Tak Tsan) Tso, CFO

CFA Charterholder and Chartered Professional Accountant. Principal of Athena Chartered Professional Accountant Ltd. and co-founder of corporate finance firm Zeus Capital Ltd.

Tina Whyte, Corporate Secretary

20+ years' experience: corporate governance, continuous disclosure, financing transactions, regulatory filings and compliance. Corporate secretary with other publicly listed companies.

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 4

ADVISORS

Bill Macdonald, Legal Advisor

Founder and principal of Macdonald Tuskey, Corporate and Securities Lawyers. Former partner with Clark Wilson LLP. Director of several energy and mining companies.

Alan Morris, Geological Advisor

Certified Professional Geologist with 37+ years in minerals industry. Experience with lithium brine deposits in Nevada. Owner of Ruby Mountain GIS (property evaluations and acquisitions).

Tim Fernback, Financial Advisor

CPA and CMA with 25+ years of finance experience as Director and officer of public and private companies. Mining consultant and former senior executive in investment banking and VC sectors.

J. Malcolm Bell, Geological Advisor

50+ years of industry experience as principal, senior officer or Director. Managing director of Malcolm Bell & Associates Ltd., which arranges and sources capital for private and public companies.

Ursula Mowat, Geological Advisor

Co-recipient of H.H. "Spud" Huestis Award (2015) for identifying and starting development of a new type of nickel deposit - awaruite - exemplified by FPX Nickel's Decar Project in central BC.

Bill Morton, MSc. P.Geo., Geological Advisor

40+ years in mining and geoscience. Nearly 20 years in senior management for publicly traded resource companies. Past involvement with major metal exploration projects across Canada, the US and Mexico.

Jacques Houle, P.Eng., Geological Advisor & QP

42 years of experience in exploration and mining industry, including 13 years at management level, 5 years U/G mine geology, 3 years with government, and 17 years as an independent consultant and QP.

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 5

BATTERY METALS MARKET: GROWING DEMAND

The electronics and energy storage sectors are significantly driving the surging demand for battery metals. But the biggest story today is the growing demand from electric vehicles (EVs).

• Supportive policies and technology advances have expanded the adoption of EVs over the last decade
• EV sales in 2019 were up 40% over 20181

Millions

Global Electric Vehicle Units - 2010-2019

8

6

4

2

0

2010

2012

2014

2016

2018

Source: IEA Global EV Outlook 2020

Metals Demand Forecast - 2019 vs 2030

Spurred by Electric Vehicle Batteries

Nickel					14x
Aluminum
Phosphorus
Iron
Copper
Graphite			9x
Lithium
Cobalt
Manganese
	Source: BloombergNEF

Nickel Rock Resources is focused on nickel and lithium. These two battery metals are forecast to experience rapid growth over the coming decade as the EV and battery sectors expand.

• In 2019, demand from EV batteries was 17 kt for lithium and 65 kt for nickel; by 2030, it's expected to jump to 185 kt for lithium and 925 kt for nickel1
• In October 2020, Joe Biden told US miners he would support boosting domestic production of metals used to make electric vehicles2

1. International Energy Agency Global EV Outlook 2020; 2. https://www.mining.com/web/biden-campaign-tells-miners-it-supports-domestic-production-of-ev-metals/

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 6

BATTERY METALS MARKET: NICKEL & LITHIUM

	Automakers are moving towards higher nickel
28
Ni	chemistries in their EV batteries as a more
Nickel	sustainable energy delivery solution.

• Nickel's primary use was in the manufacture of stainless steel but in recent years it has become increasingly important in EV batteries
• Nickel in batteries provides higher energy density, storage at lower cost, and longer drive ranges1

"Wherever you are in the world, please mine more nickel and don't wait for nickel to go back to some high point that you experienced some five years ago or whatever, go for efficiency."

- Elon Musk, Tesla CEO

Nickel Sulfate Price Forecast

		Passenger vehicles powered by lithium-ion batteries
3	Li
	globally: 10% by 2025, 27% by 2030 with 58%
	Lithium	market penetration by 2050.2

• The cost of lithium-ion battery packs has dropped by 87% since 2010, making them more attractive to manufacturers
• Automakers are concerned about suppliers' ability to meet ongoing lithium demand2

"Tesla drew attention to the raw materials needed to make electric- vehicle batteries when it signed a sales agreement with [Australia's] Piedmont Lithium to secure about a third of the startup's production for up to 10 years, even though its mine isn't operational yet."2

Lithium Demand Forecast

Battery-Graded, Global Prevailing Price (US$/tonne)

$6,000

1.6

Million metric tons LCE

$4,500
$3,000
$1,500
$0
2014	2017	2020	2023	2026	2029

Source: Benchmark Mineral Intelligence, Nickel Forecast

0.8

0
2018	2020	2022	2024	2026	2028	2030
			Lithium carbonate		Lithium hydroxide
	Source: BloombergNEF

1. NickelInstitute.org; 2. https://www.marketwatch.com/story/lithium-is-at-the-heart-of-the-electric-vehicle-revolution-heres-how-the-market-for-the-raw-material-works-11603989355

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 7

NICKEL PROJECTS REGION: BRITISH COLUMBIA, CANADA

British Columbia has an abundance of minerals, skilled labour and the specialized equipment and facilities to support exploration and development.

• Mining-friendlyregulations
• Stable political environment
• Carbon neutral hydro electricity
• Eco-friendlyrail lines close to most mining districts
• World's largest concentration of exploration companies and mining professionals1
• Ranked the 3rd best mining jurisdiction in the world by The Mining Journal (2017)
• Harmonious working relationship with and largest private sector employer of Indigenous people in Canada2

1. https://www.britishcolumbia.ca/invest/industry-sectors/mining/; 2. https://www.mining.bc.ca/indigenous-relations

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute

BC's Awaruite Advantage

Awaruite is a naturally occurring nickel-iron alloy that was first discovered in central British Columbia in 1983.

Awaruite is important in the manufacture of EV batteries that are environmentally friendly thanks to:

• Having little or no capacity to generate acid mine drainage due to containing little or no sulphides
• Not requiring chemical reagents/acid leaching for processing
• Waste rock actually absorbing carbon

Winter 2020 | 8

NICKEL PROJECT #1: HARD NICKEL GROUP

Our exploration targets are bordering or in close proximity to FPX Nickel Corp.'s Decar Project where their potentially carbon neutral Baptiste deposit has recently been confirmed as one of the world's most robust large-scale nickel projects.

• FPX has invested ~$25 million to explore and develop their Decar Project to date
• Our property is partially underlain by rocks like those hosting FPX's Decar Project
• Metallic mineralization includes nickel, cobalt and chromium
• Some nickel mineralization occurs as awaruite, first discovered in the area in 1983
• Reports of exploration on and around the property are available dating back to 1974

Overview

Location: Central BC, Canada

Claims: 9 mineral claims in 3 groups

Total Area: 7,525.32 hectares (~18,595 acres)

Interest: 100% on 6,125.32 hectares; option to acquire 100% interest on 1,400 hectares

Royalties: 2% NSR

Region & Infrastructure

• ~100 km (~62 miles) NW of Fort St. James
• In the Omineca Mining Division
• Good access by paved and gravel roads & helicopter
• Canadian National Railway owns inactive rail line a short distance to the east
• Hydroelectric power lines cross the region

Exploration Plans

• Currently writing 43-101 report
• Detailed exploration program to start in Spring 2021: rock and soil sampling, trenching & drill program
• Review historical data from systematic, ground-based exploration on the property (1987-2012) directed by renowned geologist Ursula Mowat
• Review data from Geoscience BC's QUEST- West project (2008-2009) that included the property: geophysical surveys; stream sediment re-analyses; data compilations

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute

Winter 2020 | 9

NICKEL PROJECT #2: NICKEL 100 GROUP

Geologist Ursula Mowat completed a preliminary field work program on our claims in 2004 and confirmed the presence of elevated nickel, cobalt and chromium values in rocks and stream sediments.

• Nickel-cobaltmineralization not well explored but presence of awaruite is documented
• Claims cover all 17 known chromite showings, some of which are reported to be mineralized with platinum/palladium group and other rare, highly valuable elements

Overview

Location: Central BC, Canada

Claims: 2 mineral claims in 1 group

Total Area: 3,134.7 hectares (~7,746 acres)

Interest: 100%

Royalties: 2% NSR

Region & Infrastructure

• ~130 km (~81 miles) NW of Fort St. James
• Good access by forestry roads & helicopter
• BC Rail Line located ~12 km (~7.5 miles) to the south
• Hydroelectric power lines cross the region

Exploration Plans

• Currently writing 43-101 report
• Detailed exploration program to start in Spring 2021: rock and soil sampling, trenching & drill program
• Review historical data from field work program (2004) by geologist Ursula
  Mowat
• Review data from Geoscience BC's QUEST- West project (2008-2009) that included the property: geophysical surveys; stream sediment re-analyses; data compilations

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 10

LITHIUM PROJECT REGION: NEVADA, USA

Ranked the 3rd best mining jurisdiction in the world in 2019 by the

Fraser Institute, Nevada is ideally suited to supply domestic and

Asian markets.

• Mining-friendlyregulations
• Stable political environment
• Over 1,100 miles of eco-friendly rail lines
• Producing lithium since 1966 at the Silver Peak Mine
• Largest mining program in the US with 49% of the Bureau of Land Management's active mining claims1
• Strong ethic toward effective and successful reclamation (restoring land that has been mined to a natural or economically usable state)1

1. https://www.blm.gov/programs/energy-and-minerals/mining-and-minerals/about/Nevada; 2. https://www.tesla.com/en_CA/gigafactory

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute

Nevada's Gigafactory Advantage

Tesla's Gigafactory manufactures lithium-ion batteries for its vehicles and energy storage products.

The Gigafactory was born out of necessity to supply Tesla with enough batteries for their projected vehicle demand.

Tesla broke ground in 2014. By mid-2018, Gigafactory 1 was the highest volume battery plant in the world.

The factory is designed to be a net zero energy and primarily powered by solar.2

Winter 2020 | 11

LITHIUM PROJECT: CLAYTON VALLEY PROJECT

Our claims in Clayton Valley are bordering or in close proximity to the Silver Peak Lithium Project (Albemarle Corporation), home to the only producing lithium mine in North America.

Clayton Valley's lithium deposit is contained in underground reservoirs (acquifers) in the form of a salty groundwater (brine) that features high levels of lithium.

"The property has strong potential to host Lithium brine deposits in favorable geologic horizons within the basin fill. Another possible target is lithium enriched clay within the fill package and potentially in previous high stands of the playa."

- 43-101 Technical Report by Alan Morris, CPG, QP, April 2016

Overview

Location: Clayton Valley, Nevada, USA

Claims: 77 placer claims in 1 group

Total Area: ~623 hectares (~1,540 acres)

Interest: 100%

Royalties: none

Region & Infrastructure

• ~344 km (~214 miles) to Reno (NW) and Las Vegas (SE)
• ~315 km (~196 miles) to Tesla Gigafactory (outside Reno)
• Excellent access by paved highway and country roads
• Electrical substation nearby
• Accessible year round

Exploration Plans

• Detailed exploration program to start in Spring 2021: rock and soil sampling, trenching & drill program
• Exploration concept: the inferred graben (valley) below our claims is a sub-basin of the larger Clayton Valley basin and may represent a secondary trap for lithium brines within the greater system
• Review historical exploration data, including 25-foot-thick zone of volcanic ash onsite reportedly similar to the Main Ash Aquifer in the Clayton Valley lithium operation1

1. https://nickelrockresources.com/2017/08/01/nickel-rock-resources-inc-retains-100-interest-in-77-claims-at-clayton-valley/

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute

Winter 2020 | 12

SHARE STRUCTURE & PERFORMANCE

Share Structure			Share Performance*
Issued & Outstanding	Stock Options Outstanding		Market Cap:	$5.49M
32,484,153	4,057,500		Price:	$0.17
Warrants Outstanding	Fully Diluted		52-Week Low:	$0.055
	52-Week High:	$0.18
25,445,000	61,986,653
	Average Volume:	27,655
			*TSXV:NICL as of Nov. 19, 2020

Transfer Agent	Auditor	Legal
Odyssey Trust Company	DMCL Chartered Professional Accountants	William M. McDonald Attorney,
835-409 Granville Street	Suite 2700-650 West Georgia Street	Barrister & Solicitor
Vancouver BC, Canada V6C 1T2	Vancouver BC, Canada V6B 4N9	Suite 400-570 Granville Street
		Vancouver BC, Canada V6C 3P1

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 13

INVESTMENT HIGHLIGHTS

• Near-TermCatalysts: Release of 43-101 report and ongoing news from planning, execution and results of 3 exploration programs in starting in Spring 2021
• Finances: $1.1M CAD in treasury
• Team & Advisors: Extensive experience in mineral exploration and development,

raising capital, and building successful businesses

• Growing Demand: Nickel and lithium forecast to experience rapid growth as the electric vehicle and battery sectors expand
• Regions: British Columbia and Nevada are world-class mining jurisdictions
• Nickel Projects: Significant property package prospective for awaruite (nickel- iron alloy) important in the manufacture of environmentally-friendly EV batteries
• Lithium Project: Bordering or in close proximity to the only producing lithium mine in North America
• Efficient & Green: Low overhead contributes to retaining and enhancing shareholder value

© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 14

CONTACT US

28Ni

Nickel

3 Li

Lithium

[e-mail]

www.nickelrockresources.com

#1220-789 West Pender Street

Vancouver BC

Canada V6C 1H2

TSXV:NICL | OTCQB:NIKLF | FRA:NMK2	© 2020 Nickel Rock Resources Inc. - Confidential & Proprietary - Do not distribute	Winter 2020 | 15