Commercial production Q2 2020

• Project validated by Osisko & Orion;
• Share price rerate as we move to full production;
• 210,000 oz/year with high margins in Canada;
• High priority exploration targets, Nugget;
• Production increase with year-round stacking;
• Mine life significantly extended with higher gold price.

Strengths

• Commercial production Q2 2020
• Average annual production of +210,000 oz/year at AISC cost of < US$800/oz Life of Mine
• Open pit 1:1 strip ratio
• Heap Leach 76% recovery
• Canadian Producer
• Safe jurisdiction
• First Nation Agreement
• Gold price at C$ all time high
• ~70% of costs are C$
• $20M Financing - COVID Reserve Fund

Opportunities

• Potential to increase production with year-round stacking
• Deep drilling has shown mineralization extends to +650m
• Priority exploration targets
• Nugget-Raven & Lynx,
• $5M 2020 budget approved
• Victoria Gold is an attractive takeover target
• Re-financing of debt
• US Listing