Diamcor Presentation Q2 24

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Diamcor Mining Inc

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Diamcor Mining Inc

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Mining

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2024

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#1LD Micro Invitational XIV April 8-9, 2024 NEW YORK CITY DIAMCOR MINING INC MINING INC Proven supplier of non-conflict rough diamonds from a known source for select Luxury Retailers at a critical time. Strategic alliance with TIFFANY & CO. DE BEERS GROUP Co-located with flagship Venetia mine Q2 - 2024#2Forward Looking Statements This presentation includes certain statements and other information that may be deemed "forward-looking". Forward-looking statements involve known and unknown risks, uncertainties and assumptions and, accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are cautioned not to place undue reliance on any forward-looking statements. Forward- looking statements include words or expressions such as "indicate”, “appears", "potential", "will”, “could”, “may”, "believe", "suggest", "further”, “follow-up", "target", "investigate”, “expect”, “anticipate”, “seek”, “additional”, “plan”, “strategy”, “increase", "adding", "expand", "greater”, “become", "pursue", "committed", "growing", "upcoming", "opportunity", "outlook”, “future”, “scenario”, “potential” and their variants. Other than statements of historical fact, all statements in this presentation that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that Diamcor Mining Inc. ("DMI" or "Company") expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward- looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, availability of capital and financing, and general economic, market, regulatory or business conditions. You are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Certain of the images appearing in this presentation are stock images and/or images representing historical Company and/or third-party operations and, unless otherwise indicated, such images should not be interpreted or relied upon as representing current operations of the Company. For more information on DMI you may review the Company's annual financial statements and MD&A and the Company's home jurisdiction filings that are available at www.sedar.com. The Company will have no obligation to update any forward-looking statements contained in this presentation. This presentation constitutes confidential information of the Company unless and until such information is placed in a publicly accessible section of its website or is otherwise published by the Company for distribution to the general public. This presentation and the information contained within it may not be reproduced, transmitted or made available to any person and any duplication of this presentation is strictly prohibited. This presentation does not constitute an offer or solicitation in any jurisdiction and under no circumstances is this presentation to be construed as a prospectus, advertisement or public offering of any securities. The Qualified Person (as defined in National Instrument 43-101) for the technical information contained in this document is Mr. James P. Hawkins (B.Sc., P.Geo.). 2 Diamcor Presentation Q2 24 DIAMCOR MINING INC#3Executive Summary Opportunity: Immediate transition to processing at higher volumes to enhance revenues and demonstrated profitability from a known source with large diamonds. Uniquely positioned: As one of the select few companies with historical operations and a demonstrated ability to provide rough diamonds to select Diamantaires and Luxury Retailers at a time when shortages are imminent. Growth: Significant additional growth potential, operations to date have been focused only on an initial 15% of total project's total area with 85% of project remaining. Opportunity: Positioning company as an important direct supplier for select Luxury Retailers who must ensure a clean chain of custody and traceability moving forward. Increasing/growing direct supply to luxury retailers at a critical time when shortages are inevitable Current changes in industry make Diamcor an attractive partner and our strategic alliance even more relevant today 3 Diamcor Presentation Q2 24 DIAMCOR MINING INC#4● Diamcor Overview Experienced team with extensive industry knowledge. • Demonstrated operational ability, generation of $38M USD from trial- mining on limited initial areas with focus shifting to expansion. Ability to support groups like Tiffany & Co.'s brand image by ensuring provenance, BEE/CSR requirements, support of junior mining, women in mining, community development, job creation, etc. ⚫ Late-stage Krone-Endora at Venetia project is prepared for growth, and new opportunities targeted for additional new supply in near-term. Quality Team with Extensive Experience, an attractive project ready to go, and other opportunities for growth Providing select Diamantaires and Luxury Retailers with a secondary supply of future diamonds is very valuable to them 4 Diamcor Presentation Q2 24 DIAMCOR MINING INC#5DIAMCOR MINING INC BELL B40D ADT 08 Krone-Endora Project Overview Transition from trial-mining to increased volumes to support Luxury Retailers needs VOLVO WSOR flow-son#6Krone-Endora at Venetia = Significant Opportunity Co-location with De Beers $4.0B+ Venetia provides significant benefit. Deposits the result of the displacement of 1,000M from Venetia. Significant project covering 5,833 Ha / 14,000 acres in the known direction of shift/displacement. ~$100M in development to date, significant operational assets and infrastructure in place, ~$38M USD in revenue from trial-mining to date, FYE Mar 31, 2023 - $7.2 M and EBITDA of $1.6M from limited processing, targeting ~300% increase in volume. Proven large diamond potential, largest to date is 91.7 carats. Endora 66 MS Initial 43-101 Project Area Krone 104 MS Current Venetia Fenceline De Beers' Venetia Mine K3 Pipe K1 Pipe K2 Pipe 6 Diamcor Presentation Q2 24 DIAMCOR MINING INC#7Source: De Beers Mineral Resource Estimate Original Surface (530 million years ago) Krone-Endora Deposit Erosion & Deposition Source: De Beers Current Open Pit at Venetia Mine ----- +/-1km of erosion which formed Krone-Endora deposit (est ~50 million tons) Total portion on Krone & Endora TBD Present Surface De Beers estimate: ~1,000 vertical meters were shifted and eroded from Venetia kimberlites thru the lower areas of Krone-Endora (~50M tons / ~50M Carats). Project is a rare Colluvium Deposit, surface mining with very low costs. Project's 5,888 hectares are directly adjacent to Venetia in the direction of known displacement. 7 Diamcor Presentation Q2 24 DIAMCOR MINING INC#8Growth Potential DIAMCOR MINING INC Large Project Area: 5,888 ha or 14,500 acres. Trial-Mining exercises to date have covered only ~657 ha or ~15% of Project's total area. Significant infrastructure - focus now shifting to increasing processing volumes and expansion into the remaining 85% of property. Modeling on remaining areas shows excellent opportunity for higher grade trapsites Mining Endora 66 MS (~3060 ha) Right Areá (~657 ha) Initial Area of N143-101- (~307 ha) Modern Drainages Paleo Drainages Krone 104 MS (~2828 ha) Venetia Mine K2/K3 Pipe 0 K1 Pipe Venetia Security Fence 8 Diamcor Presentation Q2 24 De Beers Venetia Mine DIAMCOR MINING INC#9DIAMCOR MINING INC Why is Rough Diamond Supply So Critical?#10Current Rough Diamond Supply .~130M carats annually, ~38M from De Beers, ~40M from Alrosa (Russia), balance from approximately 15 other medium/small producers. Rough diamonds were historically purchased from De Beers and Alrosa sight-holders, or at tenders/auctions in Antwerp, Dubai, Africa. Supply vs. Demand imbalances were typically small and driven by consumer spending or growth in certain markets. Russia/Ukraine conflict has resulted in sanctions on ~35% of global supply. Strengthened sanctions by G7 & EU in 2024 are expected to cause supply issues for many by Q3-2024 Planning for these supply changes is a key consideration of Luxury Retailers 10 Diamcor Presentation Q2 24 DIAMCOR MINING INC#11Changes to Rough Diamond Supply in 2024 Provenance and assurance that diamonds are ethically mined and non- conflict is now paramount and has become an absolute requirement. De Beers cannot increase production levels to meet the elimination of Russian supply, various mines are nearing the end of their life, and no new sources have been identified for years, all adding to shortages. • Increased competition to secure sources of quality / large natural diamonds directly by luxury retailers is developing quickly. Luxury retailer's are focused on high value natural diamonds not LGD. Consumer expectations are high, supplies are expected to drop, securing supply a growing concern for many As the rarity of natural diamonds grows, their value and desirability to luxury consumers will increase 11 Diamcor Presentation Q2 24 DIAMCOR MINING INC#12Future Supply Considerations • De Beers has 70 sight-holders / tenders see ~150 buyers, so securing supplies direct from mines is an emerging focus for leading retailers. Recovery of China and India will happen and result in further demand/ competition in the future, which is a major consideration for many. • Producing mines with gem quality non-conflict natural rough diamonds and potential for growth are the only alternatives for future supply. • Working with Diamcor to secure/expand supply is very logical. Increased competition and shrinking supplies make direct purchases from mines a growing strategy for many Smaller mines are currently undervalued, have no access to capital, and a consolidation is possible 12 Diamcor Presentation Q2 24 DIAMCOR MINING INC#13DIAMCOR MINING INC Diamcor Providing Direct Supply#14Tiffany & Co. Strategic Alliance is Key Agreement was established to provide Tiffany & Co. with additional supply of rough diamonds, and is more relevant today than ever before. Tiffany & Co. provided -$10.0M for first right to acquire diamonds from Krone-Endora at Venetia only. (agreement currently includes only diamonds up to 10.8 cts in size) Recent addition of retired Tiffany & Co. executive Mr. Wayne Howard to board enhances alliance as well as relationships with many Luxury Retailers. (See press release March 18, 2024) TIFFANY & CO. TIFFANY & CO. TIFFANY&CO. TUFANY & CO 14 Diamcor Presentation Q2 24 DIAMCOR MINING INC#15Why Diamcor is Well Positoned for the Future Russian sanctions and lower future production levels means increased competition for available supply by Tiffany & Co. and other Luxury Retailers. Diamcor provides buyers with a clear chain of control and provenance directly from mine to alliance partners an increasingly important strategy. • Mid-tier miners like Diamcor with growth potential to support secondary supply chains of rough diamonds to Luxury Groups is trending. ⚫ Luxury Retailer's focus on high value natural rough diamonds as opposed to low-cost alternative synthetic lab grown diamonds. Alternatives to supplement historical supply chains provides many benefits in current environment Luxury Retailer's exploring/expanding alliances to secure high value natural diamonds is increasing 15 Diamcor Presentation Q2 24 DIAMCOR MINING INC#16• Planned Growth to Meet Industry Needs Krone-Endora remains our key focus and starting point given its potential for increased processing levels and significant growth in near-term. Several other opportunities have been identified to increase our supply. Our understanding of these opportunities and their potential to supply select exceptional and large diamonds to Luxury Retailers directly is very desirable. Focus in this area would be directed towards securing very specific categories and sizes of non-conflict rough diamonds for high-end market. Opportunity to establish a growing secondary supply chain of quality diamonds is very possible Potential to specifically target opportunities with rough diamonds which meet the needs of luxury market 16 Diamcor Presentation Q2 24 DIAMCOR MINING INC#17Presentation Highlights Current developments in the industry provide a unique opportunity Diamcor well positioned to provide added benefit to our Strategic Alliance partner Industry changes in 2024 will create supply issues moving forward The supply of natural rough diamonds is strained due to more restrictive sanctions, dropping supply, and provenance requirements, all of which will increase competition for remaining supply moving forward. Diamcor has historically provided significant benefit and demonstrated rough diamond supply to select Luxury Retailers, and the growth of Krone-Endora at Venetia is a significant opportunity moving forward Diamcor's Krone-Endora at Venetia project is key focus given its potential for immediate growth, after which the company focus will be to advancing discussions on potential additional production-focused assets. Additional growth opportunities would further enhance our current rough diamond profile, and focus on very specific sizes and qualities of non-conflict natural rough diamonds most desirable to Luxury Retailers. 17 Diamcor Presentation Q2 24 DIAMCOR MINING INC#18Revenues & Expenses From Trial-Mining Exercises Only $8,000,000.00 $6,000,000.00 $4,000,000.00 $2,000,000.00 $0.00 -$2,000,000.00 -$4,000,000.00 OTCQB Symbol TSX Venture Symbol Share Structure DMIFF V.DMI Issued & Outstanding 128.5M Shares - Fully Diluted¹ 136.5M Market Capitalization² -$8.0M Stock Price2 (03/29/24) $0.06 Year Low-High² Insider Holdings Institutional Holdings $0.045-$0.16 -37% -15% FYE 2021-222 FYE 2022-232 1. Gross Revenue Total Expenses Net Gain (Loss) Excludes shares issuable pursuant to Tiffany & Co. final convertible debenture (1.0M shares @ $1.60) 2. All figures shown in CAD$ 18 Diamcor Presentation Q2-24 DIAMCOR MINING INC#19Management Team Dean H. Taylor (Chairman/Director/CEO) Mr. Taylor has been instrumental in Diamcor's growth from the beginning, responsible for the acquisition of Krone-Endora from De Beers, establishing a strategic alliance with Tiffany & Co., and raising -$100M in fundings and revenues to advance the project into the opportunity it is today. A highly experienced and respected leader who is renowned for his disciplined and focus, Mr. Taylor leads an incredible group of people across the globe. Dr. Kurt Petersen (COO) Dr. Petersen holds a PhD in mineral processing and recognized as one of the industry's key advisors in the design, evaluation, refinement, and operational development of diamond processing and recovery systems for many of the most significant diamond mines in the world for the last 25 years. Previously an advisor to Diamcor, his strong belief in the significant potential of Krone-Endora based on his years of involvement and understanding of De Beers Flagship Venetia diamond mine, ultimately lead to his willing acceptance to join the team to assist in guiding the Company to the next level and the planned growth desired in the coming years. Mr. Wayne Howard (Ind. Director) Mr. Howard is a leadership expert with extensive experience as an international board member globally with several NYSE listed companies. Mr. Howard joined Diamcor in 2024 after his retirement from an extensive career at Tiffany & Co. where he held the positions such as Divisional VP of Diamond Supply-Operations Officer, Divisional VP of Jewelry Supply-Operations Officer, and VP of Manufacturing. He is also managing director of NY based Peale Davis and has enjoyed an extensive career holding various senior positions with NYSE listed entities. Mr. Howard has an honors degree in Business Administration from Western university and completed PMD at Harvard Business School. 19 Diamcor Presentation Darren Vucurevich (Director/CFO) Mr. Vucurevich has been with Diamcor since 2005. A graduate of the University of Lethbridge with a Certified Management Accountant designation, he has been instrumental in the management of Diamcor's international operations, accounting, banking, IT, auditing, and public reporting to support its growth. Dr. Stephen Haggerty (Ind. Director) Born in South Africa, and also with Diamcor since the beginning, Dr. Haggerty is a distinguished research professor who is widely recognized as one of the world's leading diamond experts. His extensive knowledge comes from his involvement in the diamond industry for five decades, and his long list of significant achievements range from being a principal investigator for 10 years in the U.S. Apollo and soviet Luna sample return programs, to vast diamond research programs in west and southern Africa, Brazil, Australia, Syria, Siberia, and China. Mr. Ross McElroy (Ind. Advisor) Mr. McElroy is a professional geologist with over 35 years of experience in the mining industry, holds a Bachelor's Degree in Science with a specialization in Geology from the University of Alberta in 1987, and is a registered professional geologist in Saskatchewan, British Columbia and Nunvut/Northwest Territories. He is the winner of the 2014 PDAC Bill Dennis award for exploration success and the Northern Miner "Mining Person of the Year Award'. Mr. McElroy's comprehensive experience includes working and managing many types of mineral projects from grass roots to feasibility and production. He has held senior technical and executive positions with both major and mid-tier mining companies including, BHP, Orano, and Cameco. His successful career included diamonds over several years spent as senior geologist for BHP's Ekati Diamond operations in Northern Canada. DIAMCOR MINING INC#20Contacts Mr. Dean Taylor (CEO) Deant@Diam cor.com Mr. Richard Matthews (Corporate Communications) [email protected] DIAMCOR MINING INC Q2 - 2024

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