Commercial Production achieved

• Achieved commercial production;
• 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 achieved
• 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$
• $23M 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,
  • $6M 2020 budget approved
• Victoria Gold is an attractive takeover target
• Re-financing of debt
• US Listing