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Patrick F. N. Anderson Chief Executive Officer High-Grade Gold Post-PEA Low-Risk Jurisdiction Low CapexApril 2014

Dalradian presentation april 10 2014 final

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Page 1: Dalradian presentation april 10 2014 final

Patrick F. N. AndersonChief Executive Officer

High-Grade Gold │ Post-PEA │ Low-Risk Jurisdiction │ Low Capex│ April 2014

Page 2: Dalradian presentation april 10 2014 final

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FORWARD-LOOKING INFORMATION AND QUALIFIED PERSON

This presentation contains “forward looking information” which may include, but is not limited to, statements with respect to the future financial or operating performance ofthe Company and its subsidiaries (collectively, “Dalradian”) and its mineral projects, the future price of metals, the estimation of mineral resources, the realization of mineralresource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of thedevelopment of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks,reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending regulatory matters. Often, but not always,forward looking statements can be identified by the use of words and phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,“intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”,“would”, “might” or “will” be taken, occur or be achieved.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions such asthe continued political stability in Northern Ireland, that permits required for Dalradian’s operations will be obtained on a timely basis in order to permit Dalradian to proceed onschedule with its planned exploration and development programs, that skilled personnel and contractors will be available as Dalradian’s operations continue to grow, that theprice of gold will be at levels that render Dalradian’s mineral projects economic, that the Company will be able to continue raising the necessary capital to finance its operationsand realize on mineral resource estimates and current mine plans and that the assumptions contained in the Company’s PEA (as defined herein) are accurate and complete.

Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Dalradian tobe materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Such factors include, among others,general business, economic, competitive, political and social uncertainties; the actual results of current and future exploration activities; the actual results of reclamationactivities; conclusions of economic evaluations; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possiblevariations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure of plant, equipment or processes to operate as anticipated; accidents,labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development orconstruction activities, as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2013dated March 25, 2014 (the “AIF”) .

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward lookingstatements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward looking statements containedherein are made as of the date of this presentation and the Company disclaims any obligation to update any forward looking statements, whether as a result of newinformation, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward looking statements will prove to beaccurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking statements.

Certain technical data in this presentation was taken from the technical report entitled “A Preliminary Economic Assessment of the Curraghinalt Gold Deposit, Tyrone Project,Northern Ireland” dated September 6, 2012 (effective date for resource is November 30, 2011), prepared by B. Terrence Hennessey, P.Geo., Mr. Barnard Foo, P.ENG., Mr.Bogdan Damjanovic, P.ENG, Mr. Andre Villeneuve, P.ENG., and Mr. Christopher Jacobs, CEng MIMMM of Micon International Limited (the “PEA”), and is subject to all of theassumptions, qualifications and procedures described therein.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature. It includes inferred mineral resources that areconsidered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is nocertainty that the results of the PEA will be realized.

Michele L. Cote, MSc., P. Geo., VP Exploration, Dalradian Resources Inc., is the Qualified Person who supervised the preparation of the exploration technical data in thispresentation. The exploration data was based on the procedures described in the Company’s AIF and is subject to all of the assumptions, qualifications and proceduresdescribed therein.

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Page 3: Dalradian presentation april 10 2014 final

OVERVIEW AND CORPORATE

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DNA SNAPSHOT

Curraghinalt ranked #7 worldwide in undeveloped gold deposits by grade1

Positive PEA shows a high margin and low capex producer Conventional metallurgy Excellent infrastructure

Board for growth; management for execution

Strong local and national support for Curraghinalt project in Northern Ireland

Underground bulk sample program to begin shortly

2014Shaping up to be

an eventful

1 NRH Research – 2013 Ranking Gold Mines & Deposits Report

Page 5: Dalradian presentation april 10 2014 final

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CORPORATE SUMMARY

All dollars quoted in $ CAD

$0.0

$0.2

$0.4

$0.6

$0.8

$1.0

$1.2

$1.4

$1.6

$1.8

$2.0

$2.2

Mar

20

13

Ap

r 2

01

3

May

20

13

Jun

20

13

Jul 2

01

3

Au

g 2

01

3

Sep

20

13

Oct

20

13

No

v 2

01

3

Dec

20

13

Jan

20

14

Feb

20

14

Mar

20

14

Ap

r 2

01

4

ANALYST COVERAGE:(targets range from $1.00-$2.25)

$0.83April 4, 2014

SHARE CAPITALIZATION AND CASH POSITION

Shares outstanding of 109.4 million and fully diluted of 128.0 million as of March 25, 2014 (includes Feb 2014 financing shares and warrants)

Cash position of $6.9 million as of December 31, 2013; Closed $13.9 million financing on February 19, 2014

TSX: DNA STOCK PRICE

Stuart McDougall

Mike Kozak

Bart Jaworski

Michael Curran

Joe Mazumdar

Jamie Spratt

Steve Parsons

Laurie Curtis

AnalystTargets

$1.75

$1.00

$1.30

$1.50

$2.25

$1.20

$1.70

Page 6: Dalradian presentation april 10 2014 final

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2009

• Project Acquisition -December

• Historic gold resource of 250,000 oz Indicated & 350,000 ozInferred1,2

2010• Increased resource

to 400,000 ozIndicated & 1.16M ozInferred1,3

• IPO - August

2011• 7 rigs onsite

• Increased resource to 10,000 ozMeasured, 460,000 oz Indicated & 2.23M ozInferred1,4

2012• Robust PEA

announced

• New discovery -Alwories

2013• UG planning

permission application

• VP Project Development hired

• Extensive drilling and re-sampling

• Geochem extends trend to 12 km

IN FOUR YEARS WE HAVE:

1 Refer to PEA. Please see cautionary statements in Forward Looking Information (slide 3)2 Historic resource completed by Micon International Ltd in 2007 using cut-off of 6 g/t Au and a minimum vein width of 1 metre: Indicated: 0.57 MT grading 13.95 g/t Au for 250,000 contained ounces; Inferred: 0.64 MT grading 17.15 g/t Au for 350,000 contained ounces3 Historic resource completed by Micon using a 5 g/t Au cut-off and 0.1m minimum width: Indicated: 0.95 MT grading 13.24 g/t Au for 400,000 contained ounces; Inferred: 2.46 MT grading 14.64 g/t Au for 1.16 million contained ounces4 Resource estimate completed by Micon using a 5 g/t Au cut-off: Measured: 0.02 MT grading 21.51 g/t Au for 10,000 contained ounces; Indicated: 1.11 MT grading 12.84 g/t Au for 460,000 contained ounces; Inferred: 5.45 MT grading 12.74 g/t Au for 2.23 million contained ounces

Page 7: Dalradian presentation april 10 2014 final

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THE BOARD: A TRACK RECORD OF DISCOVERY, DEVELOPMENT & PRODUCTION

PATRICK F. N. ANDERSONCHIEF EXECUTIVE OFFICER

Founder & Former CEO of Aurelian Resources

‘08 – PDAC International Mineral Discovery

‘08 – Northern Miner Man of the Year

JONATHAN RUBENSTEINDirector of Eldorado Gold

Director of Detour Gold

Chairman & Director of MAG Silver

Former Director of Aurelian Resources, Sutton Resources, Canico Resource and Cumberland ResourcesRONALD GAGEL

CFO of TMAC Resources; Former CFO of FNX Mining and Aur Resources

Director of Adriana Resources and StonegateAgricom

Former board member of HudBay Minerals and Central Sun Mining

‘13 – PDAC Distinguished Service Award

THOMAS OBRADOVICHCHAIRMAN

Founder & Former CEO of Young-Davidson Mines

Former Director of Aurelian Resources

SEAN ROOSENFounder & CEO OF Osisko Mining Corporation

Also Director of Astur Gold

‘06 – Prospector of the Year - Quebec

‘08 – Prospector of the Year - Canada

‘09 – Northern Miner Man of the Year

Founder & CEO of Continental Gold

Raised over $500M in funding during 15 years in the natural resources & investment sectors

ARI SUSSMAN

GRENVILLE THOMASFounder & Chairman of StrongbowExploration

Founder & Former Chairman, President & Director of Aber Resources (Harry Winston Diamond) now Dominion Diamond

‘99 – PDAC Prospector of the Year

‘01 – Northern Miner Man of the Year

‘09 – Canadian Mining Hall of Fame

Page 8: Dalradian presentation april 10 2014 final

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MANAGEMENT: THE A-TEAM

PATRICK F. N. ANDERSONCHIEF EXECUTIVE OFFICER

Founder & Former CEO of Aurelian Resources

‘08 – PDAC International Mineral Discovery

‘08 – Northern Miner Man of the Year

KEITH MCKAYCHIEF FINANCIAL OFFICER

Former CFO of Aurelian Resources

Former SVP Financial Operations at AMEC and Controller at Rio Algom

TIM WARMANPRESIDENT

Former VP, Corporate Development of Aurelian Resources

Also Director of Continental Gold Ltd.

RUTH IVESVP PROJECT DEVELOPMENT

Over 18 years of hands on mining experience

Senior engineering & mine planning roles in over seven underground gold operations, predominantly narrow vein

MICHELE COTEVP EXPLORATION

Over 18 years of experience as an exploration geologist

MARLA GALEVP COMMUNICATIONS

18 years of experience

Senior communications roles at Endeavour Mining and Aurelian Resources

Page 9: Dalradian presentation april 10 2014 final

NORTHERN IRELAND

Page 10: Dalradian presentation april 10 2014 final

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METAL PROJECTS IN IRELAND & THE UK

Our flagship asset: Curraghinalt high-grade lode gold deposit

Excellent regional infrastructure

Over 84,000 hectares under license

Gortin

Omagh

Curraghinalt

BELFAST

N O R T H E R NI R E L A N D

GalantasGold

ConroyDiamonds& Gold

Lonmin

Irish SaltMining

UndergroundSalt Mine

Clontibret

Croagh PatrickParys Mountain

Gwynfynydd

Galmoy Avoca

Pallas GreenSilvermines

South Crofty

Curraghinalt GoldDeposit

GoldBase MetalsSalt Mine

Allihies Copper Mines

Galantas GoldPrevious open pit producer; permitting underground

ScotgoldPermitted

Vedanta ResourcesIn production

BolidenIn production

IMC ExplorationGold exploration

LundinPrevious producer

ConroyGold exploration

Lisheen

Cononish

Tara

Cavanacaw

XstrataFeasibility

Gold Mines of WalesExploration

Clogau

Page 11: Dalradian presentation april 10 2014 final

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DG3

Gortin

COUNTY TYRONE IS RESOURCE FRIENDLY

Curraghinalt

kilometres

0 1 2

Curraghinalt

Cavanacaw Open Pit Approx 30 km SW

Clear Cut Logging at Gortin Glen Forest Park

Alwories Quarry

125 Metres

Greencastle Quarry

Page 12: Dalradian presentation april 10 2014 final

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PERMITTING

Less than a year to permit

underground bulk sample

Transparent process: all stakeholder

communications published on

government website

January 2011: EIA baseline data

collection commenced

Strong social license: 6:1 ratio

of supporters to objectors for

UG bulk sample

Regular community and

government agency meetings;

site visits for local and

government groups

Page 13: Dalradian presentation april 10 2014 final

CURRAGHINALT

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DEVELOPMENT OF A HIGH-GRADE DEPOSIT

Gold resource covers a fraction of

12 km gold trend

High-grade gold resource1

Measured: 0.02 MT grading 21.51 g/t Au

for 10,000 contained ounces

Indicated: 1.11 MT grading 12.84 g/t Au

for 460,000 contained ounces

Inferred: 5.45 MT grading 12.74 g/t Au

for 2.23 million contained ounces

Positive PEA shows a high margin

and low capex producer1

1 Refer to PEA. Please see cautionary statements in Forward Looking Information (slide 3)

Page 15: Dalradian presentation april 10 2014 final

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A 12KM GOLD TREND

GLACIATED TERRAIN WITH MINIMAL OUTCROP

Curraghinalt

Deposit

Curraghinalt

Trend

Curraghinalt Trend

Veins in Current Resource

Intersected Veins

Historical Findings

Geochem Anomaly

Curraghinalt DepositResource effective as of Nov 2011

1–

Measured: 0.01 Moz Au (0.02MT @ 21.51 g/t)

Indicated: 0.46 Moz Au (1.11MT @ 12.84 g/t)

Inferred: 2.23 Moz Au (5.45 MT @ 12.74 g/t)

Golan Burn

Outcropping veins including

60cm @ 61.43 g/t Au (12-CT-167)4

Alwories Discovery Holes2

4.72m @ 14.82 g/t Au (12-CT-173)

2.22m @ 14.10 g/t Au (12-CT-162)2a

1.47m @ 23.6 2g/t Au (12-CT-162)2b

400 m Step-out

3.2m @ 5.34 g/t Au (11-CT-99)3

Attagh Burn

2.47m @ 18.99 g/t Au

1 43-101 Compliant Resource completed by Micon International Ltd using a 5 g/t Au cutoff and a 0.1m Minimum Width diluted to a 1 m horizontal width2 12-CT-162 drilled at 180/-55. 12-CT-173 drilled at 150/-60; 2a from 186.00 m- 188.22m, 2b from 229m - 230.55 m ; true width undetermined3 11-CT-99 drilled at 200/-60, from 471.14-474.34 m4 12-CT-167 drilled at 180/-45 True width between 95-92% of core length

Page 16: Dalradian presentation april 10 2014 final

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OROGENIC VEIN SYSTEM

CROSS-SECTION

ADIT

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ROBUST OUNCES PER VERTICAL METRE

0 1,000 2,000 3,000 4,000 5,000 6,000

0

-50

-100

-150

-200

-250

-300

-350

-400

-450

-500

-550

-600

-650

-700

-750

-800

-850

Ounces per Vertical Metre (2011 Mineral Resource estimate)

Ounces perVertical Metre

Met

res

be

low

Su

rfac

e

Page 18: Dalradian presentation april 10 2014 final

PRELIMINARY ECONOMIC ASSESSMENT

MICON, JULY 2012

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PRELIMINARY ECONOMIC ASSESSMENT

KEY PEA DATA*3 YEAR TRAILING AVERAGE

GOLD PRICE:$1378/ounce

5 YEAR TRAILING AVERAGE GOLD PRICE:$1,166/ounce

NPV with 8% discount rate (After-tax) $467 million $331 million

IRR (After-tax) 41.9% 33.4%

Average Annual Production 145,000 ounces/year

Processing Rate 1,700 tonnes/day

Life of Mine 15 years

Initial Capex ($38M contingency) $192 million

Cash Costs $532/ounce or $125/tonne

Diluted Grade 8.1 g/t Au

Gold Recovery 92%

Payback 2 years

* Prepared by Micon International Limited. PEA results released on July 25, 2012. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The PEA is preliminary in nature. It includes

inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. All dollars quoted in $ USD unless stated otherwise.

At $814 gold price (10-year trailing average), after-tax IRR of 20.2%

Page 20: Dalradian presentation april 10 2014 final

BULK SAMPLE

Page 21: Dalradian presentation april 10 2014 final

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UNDERGROUND EXPLORATION & BULK SAMPLE PROGRAM

DALRADIAN HAS RECEIVED PLANNING PERMISSION TO COMPLETE UP TO 2,000 M OF UNDERGROUND EXPLORATION DEVELOPMENT in order to:

Extend the existing adit to intersect further veining

Drift along exposed veins

Install a ramp and work on multiple levels

Remove a large bulk sample

Proposed Access Ramp to Sub-Level

Proposed Tunnel Extensions at Sub-Level

Proposed Tunnel Extensions at 170

M Level

Existing Exploration

Tunnel

Proposed Stopes

T17 Vein

No. 1 Vein

106-16 Vein

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Demonstrate continuity of thickness and grade of mineralized veins

Convert indicated mineral resources to measured

Test mining techniques and backfill methods

Investigate geotechnical and hydrogeological conditions

Produce a bulk sample for metallurgical test work

Advance the permitting process

22

RO

AD

SHEE

PD

IP

MU

LLA

N

T17

No

. 1

10

6_1

6

BEN

D

CR

OW

EXISTING DEVELOPMENT

PLANNED DEVELOPMENT

PLANNED DEVELOPMENT

PLANNED STOPING

PROGRAM GOALS

Cross-section through proposed development,looking west

Page 23: Dalradian presentation april 10 2014 final

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PROGRAM TIMELINE

Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr

2014/2015

Surface Work

Exploration Tunneling

Test Stoping

Hydrogeology & Geotechnical Studies

Backfill testing

Metallurgical Testing

Receipt of planning permission with final terms and conditions

Resource update

Updated economic study

Page 24: Dalradian presentation april 10 2014 final

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PERFECT TIMING

Page 25: Dalradian presentation april 10 2014 final

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Patrick F. N. Anderson

Chief Executive Officer

[email protected]

416.583.5622

Trading Symbol:

DNA on TSX

Corporate Office:

Dalradian Resources Inc.

155 Wellington Street West

Suite 2920

Toronto, Ontario

Canada M5V 3H1

www.dalradian.com