Corporate Presentation July 2019 January 2017 TSX-V: OOO OTC: - - PowerPoint PPT Presentation

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Corporate Presentation July 2019 January 2017 TSX-V: OOO OTC: - - PowerPoint PPT Presentation

DEVELOPING IDAHOS NEXT OPEN PIT HEAP LEACH GOLD PROJECT Corporate Presentation July 2019 January 2017 TSX-V: OOO OTC: OGLDF DISCLAIMER & CAUTIONARY NOTES Except for the statements of historical fact contained herein, the information


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SLIDE 1

DEVELOPING IDAHO’S NEXT OPEN PIT HEAP LEACH GOLD PROJECT

January 2017

Corporate Presentation

July 2019 TSX-V: OOO OTC: OGLDF

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SLIDE 2

DISCLAIMER & CAUTIONARY NOTES

Except for the statements of historical fact contained herein, the information presented constitutes “forward‐looking statements” within the meaning of the Safe Harbour Statement under the United States Private Securities Litigation Reform Act of 1995. Such forward‐looking statements including but not limited to those with respect statements, to the price of gold, the timing and amount of future production, costs of production, reserve and resource determination and reserve conversion rates, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking

  • statements. Such factors include, among others, risks relating to the integration of acquisitions, risk relating to international operations, risks relating to joint‐venture operations, the actual results
  • f current exploration activities, conclusions of economic evaluations, changes in project and exploration parameters as plans continue to be refined and future prices of gold and silver.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements.

CAUTIONARY NOTE CONCERNING ESTIMATES OF MEASURED, INDICATED & INFERRED RESOURCES

All statements in this presentation, other than statements of historical fact, are "forward-looking information" with respect to Otis Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Kilgore, expected gold and silver recoveries from the Kilgore, mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, the availability of drill rigs, the accuracy of a preliminary economic assessment, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Otis Gold and there is no assurance they will prove to be correct. Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward- looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration. The mineral resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Otis Gold is not an SEC registered company. Although Otis Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Otis Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

QUALIFIED PERSON

Under National Instrument (NI 43-101) Standards of Disclosure for Mineral Projects, the Qualified Person for this Otis Gold Corp. presentation is Mr. Alan A. Roberts, MSc, CPG, Vice President of Exploration, who has reviewed and approved its contents.

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SLIDE 3

Kilgore Project (Au) – 100% Ownership

▪ PEA highlights (2019): ▪ After-tax NPV 5% = US$97.6m and IRR = 32.4% ▪ Mine life 4.9 yrs; pay back 3.1 yrs ▪ Average annual gold production = 112,500 oz ▪ Strip ratio 1.1:1 ▪ NI 43-101 resource estimate (2018): ▪ Indicated 825,000 oz Au @ 0.58 g/t ▪ Inferred 136,000 oz Au @ 0.45 g/t ▪ Approved 5-year Plan of Operation allows for ongoing exploration drilling at all Kilgore targets, including immediate step-outs on existing Kilgore deposit ▪ Significant resource expansion potential in an 8km zone around the Kilgore resource area

Oakley Project (Au, Ag) – 100% Ownership

▪ Intermediate-stage exploration target ▪ NI 43-101 resource estimate (2016): ▪ Inferred 163,000 oz Au @ 0.51 g/t ▪ Soils surveys, rock chip and outcrop channel sampling completed across main targets areas in 2017 & 2018 ▪ 3D geologic modelling integrates historic and recent data for drill program planning ▪ Additional state mineral leases and federal claims expand land package

Otis is focused on developing the Kilgore Project through to a commercial production decision.

3

CORPORATE OVERVIEW

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SLIDE 4

4 Issued Shares (see Appendix 1) 162.4 million Options Outstanding 12.4 million Warrants Outstanding nil Fully Diluted Shares 174.8 million Treasury (at March 31, 2019) CDN$771k Management, Directors & Insiders 27.7% Agnico Eagle Mines Limited 9.0% 52 Week High/Low CDN$.25/$0.07

  • Avg. Daily Vol. (12 week)

~50,000

CAPITAL STRUCTURE & FINANCIAL INFORMATION TSX-V: OOO OTC: OGLDF

▪ No debt ▪ Management & close hands own significant position ▪ Agnico Eagle Mines Limited (9%) – strategic investment in 2017

RECENT PRESS RELEASES

July 30, 2019 Otis Announces Positive Maiden Kilgore PEA April 29, 2019 Otis Announces Major Investor Acquires 2 Million Shares April 15, 2019 Otis Reports Excellent Metallurgical Results From Kilgore January 16, 2019 Otis Lays Foundation for Exciting 2019 Exploration December 4, 2018 Otis Samples up to 1.75 g/t Au, 105.0 g/t Ag at Oakley Project November 13, 2018 Otis Identifies 3.5km Gold & Silver Anomaly at Cold Creek August 23, 2018 Otis Receives New 5-Year Exploration Permit at Kilgore August 14, 2018 Otis Increases Kilgore Indicated Gold Resource by 59% April 11, 2018 Otis Adds New Gold Targets at Kilgore April 3, 2018 Otis Appoints VP of Exploration February 14, 2018: Otis Drills 118.9m of 1.41 g/t Au and 137.2m of 0.91 g/t Au January 18, 2018: Otis Drills 24.4m of 4.33 g/t Au and 53.3m of 1.23 g/t Au October 10, 2017: Otis Drills 129.4m of 1.66 g/t Au and 73.1m of 1.13 g/t Au July 5, 2017: Otis Announces Appointment of Don Poirier to Board February 28, 2017: Agnico Eagle 9.9% Investment @ $.35 per share January 19, 2017: Otis Drills 128.0m of 1.79 g/t Au and 80.8m of 1.87 g/t Au

Analyst Coverage:

Scarsdale Equities LLC Michael Niehuser

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SLIDE 5

5

KEY MANAGEMENT, DIRECTORS & ADVISORS

Craig Lindsay, BComm, MBA, CFA Co-Founder, CEO & Director ▪ Co-Founder & Former CEO: Magnum Uranium Corp., which was sold to Energy Fuels Inc. (NYSE MKT:UUUU) in 2009 ▪ Former VP, Investment Banking: PricewaterhouseCoopers LLP ▪ Founder and Former CFO: OneAsia.com (Holdings) Ltd. , which was sold to tom Group Limited (SEHK: 2383) in 2001 ▪ Director: Rebel Capital Inc (TSXV: RBL.P); VR Resources Ltd. (TSX-V: VRR), Alianza Minerals Ltd. (TSX-V:ANZ) and Philippine Metals Inc. (TSX-V:PHI) ▪ Immediate Past National Chairman, Hong Kong-Canada Business Association (2017-2019) ▪ Past Chairman and Board Member, Family Services of Greater Vancouver Alan A. Roberts, M.Sc., CPG Vice President, Exploration ▪ Former Exploration Manager, Equinox Gold Corp (TSX: EQX), at the Castle Mountain epithermal gold project in California ▪ Over 25 years’ global experience in progressively senior roles at various exploration and resource development projects throughout North America, Central and South America, China and Africa

  • Dr. Roger Norwich

Director ▪ Former Director: Rio Alto Mining Ltd., which was sold to Tahoe Resources Inc. (TSX: THO) for $1.09 billion in 2015 ▪ Non-Executive Chairman: Mexico-based Grupo Minero Panuco (copper and gold miner) Don Poirier, B.Sc. Director ▪ Former VP of Corporate Development: Hecla Mining (NYSE: HL), part of team responsible for acquisition of Aurizon Mines

  • Ltd. In 2013

▪ Former sell-side mining analyst (20 years) at several Canadian investment firms; also has experience as a field geologist

  • Dr. Donald E. Ranta, Ph.D, P.Geo

Director ▪ Former Chairman, President & CEO: Rare Element Resources Ltd. (NYSE MKT:REE) ▪ Former VP, Exploration: Echo Bay Mines Ltd.

  • Dr. Tim Miller, MBA, DBA, CIPD

Director ▪ Former Chairman: Standard Chartered Bank Korea ▪ Former Director - Property, Research and Assurance: Standard Chartered Bank plc Michael Vint, P.Eng. Advisory Board ▪ Vice President: Endeavour Financial Services Ltd. ▪ Over 20 years’ experience in mine operations and construction, including open pit mines in Nevada and California and underground mines at Hemlo and Eskay Creek Eric Klepfer Advisory Board ▪ Principal: Klepfer Mining Services LLC ▪ B.S. in Mining Engineering and Engineering Administration (Michigan Technological University) ▪ Significant range of mine permitting expertise in the Western USA

THE OTIS GOLD TEAM

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SLIDE 6

6

WHY IDAHO?

  • Idaho ranked #5 state in US and

#16 jurisdiction Globally (Fraser

Institute Annual Survey 2018)

  • Well-defined permitting process
  • Strong community support
  • Low geopolitical risk
  • Significant mining history that is

both geologically prospective and under-explored

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SLIDE 7

7

KILGORE -HISTORY AND OVERVIEW

▪ Kilgore produced historically (circa 1930 - 1935) as a small-scale underground mining operation. No production records exist but significant evidence of mining operations in the form of remnants of a tram line, ore-sorting facility and numerous collapsed adits. ▪ Kilgore is approx. 12,000 acres and located on US Forest Service land. ▪ Project is 100% owned by Otis and royalty-free. ▪ Indicated resource of 825,000 ounces at 0.58 g/t Au and Inferred resource of 136,000 ounces at 0.46 g/t Au; gold grade compares favourably with US peers (average of 0.53 g/t Au for Measured and Indicated resources1). ▪ Current focus is: (1) advancement of Kilgore Deposit to a near-surface open pit heap leach mine and (2) district-wide exploration to test potential of numerous emerging gold targets.

Mining cabin circa 1935, Blue Ledge Mining Company View of Kilgore Project looking South Kilgore Deposit

Note 1. Average gold grade for Measured and Indicated gold resources for 18 companies listed on page 11 . Data drawn from company reports.

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SLIDE 8

8

KILGORE – AERIAL VIEW

Caldera margin

(projection)

Generalized Cross-Section (see page 11) Kilgore Project I-15 (major N-S interstate) Dubois, Idaho (Otis Field Office) Spencer Opal Mine

(operating)

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SLIDE 9

9

KILGORE –VOLCANIC “CALDERA” HOSTED GOLD DEPOSIT

The Kilgore Deposit hosts low-sulphidation quartz adularia epithermal gold with similarities to Round Mountain (Nevada).

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SLIDE 10

10

KILGORE NI 43-101 RESOURCE ESTIMATE

Classification Imperial Units Metric Units Au Ounces Cut-off (Au

  • pt)

Short tons Au Grade (opt) Cut-off (Au g/t) Metric Tonnes Au Grade (g/t) Indicated 0.003 62,382,000 0.014 0.10 56,592,000 0.49 886,000 0.004 58,647,000 0.015 0.14 53,206,000 0.51 873,000 0.005 53,976,000 0.016 0.17 48,966,000 0.54 852,000 0.006 49,106,000 0.017 0.21 44,556,000 0.58 825,000 0.007 44,549,000 0.018 0.24 40,414,000 0.61 796,000 0.008 40,294,000 0.019 0.27 36,559,000 0.64 764,000 0.009 36,343,000 0.020 0.31 32,970,000 0.69 730,000 0.010 32,830,000 0.021 0.34 29,786,000 0.73 697,000 Inferred 0.003 16,271,700 0.010 0.10 14,761,000 0.34 163,000 0.004 14,511,400 0.011 0.14 13,168,000 0.37 157,000 0.005 12,336,900 0.012 0.17 11,192,000 0.41 147,000 0.006 10,354,700 0.013 0.21 9,399,000 0.45 136,000 0.007 8,736,180 0.014 0.24 7,925,000 0.49 126,000 0.008 7,272,060 0.016 0.27 6,600,000 0.54 115,000 0.009 6,017,710 0.017 0.31 5,459,000 0.59 104,000 0.010 5,030,820 0.019 0.34 4,567,000 0.65 95,000

Kilgore Project Resource Statement1 – Sensitivity to Cut-off Grade

  • Approximately 85% of resource in the Indicated category
  • Pit constrained – a large amount of unclassified mineralization lies outside of the pit due to undrilled

gaps in model, etc.

  • Most of the property remains incompletely tested or drilled including several highly prospective areas,

Gold Ridge, Prospect Ridge, Dog Bone Ridge and Gold Knob

  • 1. The geologic model and mineral resource estimate for Kilgore was completed by David Rowe, CPG, of Rowearth LLC, an independent

Qualified Person as defined by the National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum, as the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, as amended. Terre Lane with Global Resource Engineering, Ltd. Of Denver (“GRE”) is the QP for pit optimization and Todd Harvey, also of GRE, is the QP for metallurgical aspects.

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SLIDE 11

11

OPHL PEER COMPARISON

Kilgore Au grade compares favourably with Open Pit, Heap Leach US peers (average of 0.53 g/t) for Measured and Indicated resources.1

  • 1. Average gold grade for Measured and Indicated gold resources for 18 companies listed in chart. Data

drawn from company reports.

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SLIDE 12

12

KILGORE 2019 PEA HIGHLIGHTS

Kilgore Project PEA1,

Clark County, Idaho, USA

$97.6 million | 32.4%

after-tax NPV5% | IRR

112,500 oz Au | 540,000 oz Au

average yearly LOM gold production

4.9 years | 3.1 years

mine life | payback

1.1:1 waste: mineralized material

low LOM strip ratio

52.7 Mt | 59.8 Mt

Total leach tons mined | Total waste tons mined

0.72 / 0.23 g/t Au | 82.0% / 50.0%

Crush grade / ROM grade | LOM Au recovery Crush / ROM

$784/oz Au | $838/oz Au

Cash cost2 | All-in sustaining cost (AISC3)

$81.0 million

Initial capital requirements PEA prepared by Global Resource Engineering, Ltd. (GRE)

1 See press release dated July 30, 2019 for further PEA details. 2 Includes mining cost, mine-level general and administrative, leaching, and refining cost. 3 Includes mining cost, mine-level G&A, leaching and refining cost.

Image of Resource Blocks within PEA pits Image of Mine Site layout

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SLIDE 13

13

KILGORE PEA – ECONOMIC MODEL SUMMARY

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SLIDE 14

(0.17) (0.34) (0.52) (0.69) (0.86) 14

KILGORE PEA LIFE OF MINE PROFILE

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SLIDE 15

15

METALLURGY –AMENABLE TO OPEN PIT, HEAP LEACH RECOVERY

▪ Echo Bay Mines (1993 – 1996): ➢ Bottle Roll tests: all > 90% extractability (Echo Bay Mines 1993- 1996) ➢ Material is not refractory ➢ Oxide and mixed material comprises 85% to 90% of deposit. Column leach recoveries ▪ Otis Gold (2010-2015): ➢ Dike 85% (o.5” and 1.5”) – oxide ➢ Lithic Tuff 81% (0.5” and 1.5”) – oxide ➢ Aspen 70% (0.5” and 1.5”) – unoxidized ➢ Low cyanide (1/2 lb./ton) & lime consumption. ▪ Otis Gold (2019) ➢ Bottle roll leach tests on Sill Domain material achieved gold extractions averaging 86.4% at 10 mesh, and 93.0% at 200 mesh ➢ Column leach test results from Sill Domain material show 74.8% gold recovery from 12.5mm (0.5”) crushed core, and 83.5% gold recovery from 38mm (1.5”) crushed core. The 38mm crushed core leached slower but has higher overall gold extraction. ➢ Final gold grades from Sill material show a 59% increase (final grades returning up to 1.42 g/t Au vs head assay grades

  • f 0.89 g/t Au).

▪ Work ongoing on larger crush column leach testing to assess potential for ROM vs crush/ROM option presented in PEA.

Otis Column Leach Met Tests, 2012

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SLIDE 16

16

SELECT VALUATIONS - USA GOLD DEVELOPERS/SMALL SCALE PRODUCERS

Otis trades at low valuation relative to peers as measured by market cap to ounces in the ground. Revaluation potential arising from completion of maiden PEA, future growth in gold resources and reduction in permitting risk as project advances. Source: Company reports, SEDAR filings and market prices as of July 29, 2019.

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SLIDE 17

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WESTERN US HEAP LEACH COMPARABLES

Company Asset Location Stage Process Reserve/Resource grade (g/t Au) Au Recovery (%) Strip Ratio18 Newmont Emigrant Nevada Operating ROM 0.621. 581 N/A Newmont Long Canyon Nevada Operating ROM 2.092A 762B N/A SSR Mining Marigold Nevada Operating ROM 0.453A 74.13B 3.2:1 Kinross Round Mountain Nevada Operating ROM 0.444A ~554B N/A Kinross Bald Mountain Nevada Operating ROM 0.645A 765B N/A Equinox Mesquite California Operating ROM 0.516A 756B 2.5:1 Alio Gold Florida Canyon Nevada Operating Crush 0.427A 717B 0.5:1 Fiore Pan Nevada Ramp-up ROM/2-Stage Crush and Agglomerate 0.518A 728B 1.3:1 McEwen Mining Gold Bar Nevada Feasibility Screen & Agglomerate 1.019A 789B 5.2:1 West Kirkland Hasbrouck Nevada PFS ROM, 3-stage Crush 0.5810A 75.710B 1.0:1 Americas Silver Relief Canyon Nevada PFS Crush and Agglomerate 0.7211A 8311B 2.6:1 Corvus Gold North Bullfrog Nevada PEA ROM 0.3712A 7412B 2.0:1 Equinox Castle Mountain California Resource ROM/Crush 0.6413A 60/7313B 3.6:1 Gold Standard Pinion Nevada Resource TBD 0.5814A 6914B 1.5:1 Gold Standard Dark Star Nevada Resource ROM(?) 0.54/1.3115A 8515B not calculated Liberty Gold Goldstrike Utah Resource + ROM 0.5416A 8016B 1.2:1 Otis Gold Kilgore Idaho PEA ROM/Crush 0.5817A 8217B 1.1:1

9A201

7 P&P oxide Reserves; 9B201 7 Prefeasibility recovery

10A201

7 Resource Statement M&I10B 201 7 Technical Report projected

11A201

7 Resource Statement I&I;11B 201 7 Technical Report Bottle Roll results only

13A201

7Reserve Statement; 13B201 5 Feasibility Report

14A201

7 Technical Report; 14B Average LOM *excluding/including Long Canyon

16A201

8 Maiden Resource Estimate, 16B201 8 LGD press release.

17A201

8 Technical Report and Mineral Resource Estimate, 17BCompany estimate at 1 .5" crush size based on historical column leach results.

18N/A=not available

7201

7 PEA, M&I Resource; recovery is LOM; 71 % projected in future using crushed only

8A 201

5 P&P Reserves; 8B201 6 Pre Feasibility Study overall recovery

12A201

8 Resource I&I (press release); 12B Variable by grade; estimated from column tests and projected to ROM material size

1USGS mrdata Data and references therein 2ANewmont 201

6 Reserve Statement; 2BNewmont 201 6 Annual Report

3ASSR 201

6 Reserve Statement; 3B Total Gold, life of mine, 201 4 Technical Report

4A Kinross 201

6 MD&A; 201 6 grade of material placed on the leach pads; 4B 2006 Technical Report life of mine "Dedicated Leach Pad" approximate recovery

5AKinross 201

6 MD&A; material placed on leach pad in 201 6; 5B unknown

6ANewGold 201

6 Reserve Statement; 6BNewGold website - oxide ores only (35% non-oxide)

16A"Phase 1

Heap Leach" portion only, M&I, October 31 , 201 7 press release;

16B201

7PEA Technical Report, weighted average of all ROM material

15A Indicated/Inferred. 201

7 Technical Report; 15B 201 7 GSV press release; oxide/transitional; number reflects actual particle size, not projected to ROM

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SLIDE 18

18

OPPORTUNITIES TO ENHANCE KILGORE DEPOSIT

▪ Approved 5-year Plan of Operation will allow step-

  • ut drilling in areas open to mineralization that are

immediately adjacent to Deposit, including: ▪ Hole 16 OKR 338 which intercepted 70.1m of 2.74 g/t Au and is wide open to northwest of Deposit. ▪ Hole 17 OKC 373 which intercepted 24.4m of 4.33 g/t Au and is open to southeast of Deposit. ▪ A large amount of unclassified mineralization lies

  • utside of the pit due to undrilled gaps in model,

etc. ▪ Approximately 20 holes drilled in past two years identified higher grade mineralization in “sill” and sedimentary units underlying main Deposit; additional drilling stepping off these holes create

  • pportunity for increased grade and size.

▪ Most of the property remains incompletely tested

  • r undrilled, including approximately 5 km of strike

along the volcanic terrace that hosts the Kilgore Deposit.

The “toe” of the volcanic terrace, where the overlying volcanic rocks are in contact with country rocks, represents an area of interest over 5 km long, within which approximately 1 kilometre hosts the Kilgore Deposit.

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19

KILGORE – GEOLOGIC CROSS SECTION

Kilgore Deposit is a single continuous near-surface gold resource with open pit, heap leach potential.

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20

KILGORE – DEPOSIT OVERVIEW

Resource Expansion (Step-out) drilling planned – Prospect Ridge Resource Expansion (Step-out) drilling planned – Kilgore North

  • Open pit heap run-of-mine (ROM)

potential

  • Low strip ratio of 1.3:1 or less (2018 NI

43-101)

  • Strong NE & NW structural controls to

deposit

  • Kilgore Deposit (2018) is 800m long x

600m wide and up to 325m at depth

  • Deposit open in multiple directions:

1.

Deposit open to northwest (Kilgore North) and further towards Gold Ridge (stepping off 2016 intercept

  • f 85.4m @ 2.5 g/t Au in hole 16

OKR-338)

2.

Deposit open to southeast towards Prospect Ridge (stepping off 2017 intercept of 24.4m @ 4.33 g/t Au in hole 17 OKC-373)

3.

Expansion potential in underlying Aspen Formation sedimentary unit

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SLIDE 21

21

KILGORE – LONG SECTION

Drilling remains open in multiple directions. The most northerly hole in the Deposit, 16OKR-338, intercepted 70.1m @ 2.74 g/t Au; step-outs are planned in the next round of drilling.

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SLIDE 22

22

KILGORE – CROSS SECTION

Aspen Formation has potential to host significant sediment- replacement style epithermal deposit(s). Approved 5-year Plan of Operation will allow for step-out resource expansion drilling beyond the immediate identified deposit.

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SLIDE 23

23

KILGORE – DISTRICT SCALE POTENTIAL

Ongoing exploration work continues to generate target areas that are prospective to hosting additional gold deposits at Kilgore. 15 km of mineralized gold at surface along edge of Caldera from Gold Knob to Prospect Ridge.

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SLIDE 24

KILGORE –SIGNIFICANTL Y EXPANDED EXPLORATION FOOTPRINT

24

New 5-Year Plan of Operation Approved for 140 drill sites for resource expansion exploration programs in 2019 and beyond.

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SLIDE 25

Near Term (2019 & 2020):

  • Continuation of regional mapping and sampling
  • Next drill program will target expansion/definition drilling at Kilgore Deposit and Prospect Ridge
  • Large diameter RC and core drilling for metallurgical testing (test ROM potential)
  • High resolution LiDAR imaging survey to better define existing and new drill targets

Medium Term (2020 & beyond):

  • Follow-up exploration drilling at targets along toe of Volcanic Terrace as required
  • Initiate first pass drill program at Gold Ridge and Dog Bone Ridge

25

KILGORE -EXPLORATION PLANS

2017 Core drilling at Kilgore Deposit Aspen Formation sandstone unit

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SLIDE 26

26

OAKLEY –OVERVIEW

▪ Three primary gold/silver targets: Blue Hill Creek, Matrix Creek and Cold Creek. ▪ Approximately 4,000 acres and 100% owned by Otis. ▪ NI 43-101 Inferred resource of 163,000 ounces Au at a grade

  • f 0.51 g/t at Blue Hill Creek. This bulk-tonnage resource is

contained within a low-sulphidation epithermal deposit hosted in Tertiary volcanic rocks with similarities in geologic setting and timing to Carlin Trend Gold Deposits. ▪ District-scale potential with only limited drill testing. Geologic modeling has identified drill targets along a 9km strike length. ▪ Oakley land package continues to expand by staking additional federal lode mineral claims and state leases; since 2014 Otis has increased land position of Blue-Hill Creek, Cold Creek and Matrix Creek. ▪ Grab samples from breccias collected in 2017 at Matrix Creek contain up to 306 g/t Ag and 1.34 g/t Au, with 14 samples averaging 70.4 g/t Ag and 0.55 g/t Au. In 2014, a 5-hole test program at Blue Hill Creek intersected 123m of 0.691 g/t Au (near surface) in one hole. ▪ 2018 highlights of fieldwork at Cold Creek included collection of 651 soil samples and 231 rock-chip samples. Results returned up to 1.9 g/t Au and 8.4 g/t Ag within altered and oxidized ash and a tuffaceous matrix of Tertiary Salt Lake formation conglomerate (Tcg). Results show that Tcg is a principal host for mineralization at Cold Creek. As a result of insights gained during the 2018 field season, Otis expanded its land package at Cold Creek by 32 claims (640 acres).

View of Oakley Project looking south

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SLIDE 27

Hydrothermally brecciated Volcanic Tuff and Sandstone from the Tertiary Salt Lake Formation.

OAKLEY – DEPOSIT STYLE

  • Carlin Type Gold Deposit (CGTD) geochemical signature at Cold

Creek.

  • Elevated assay values of As, Hg, Te and Tl in rock chip samples

indicative of Carlin-type deposit.

  • Si flooding of rocks at surface and replacement of calcite by silica
  • Strong FeOx in Si flooded zones.
  • High Au assay values in rock chips correlate with elevated tracer

elements.

  • Mineralized samples of limestone outcrops at surface.

27

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SLIDE 28

28

OAKLEY – ROCK & SOIL RESULTS -Au

Consists of 198 federal lode mining claims and state leases (approx. 5,120 acres) on western flank of Albion Mountains; west of past-producing Black Pine Mine and on trend north of past-producing Vipont Mine (Ag).

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SLIDE 29
  • Additional surface exploration program at Cold Creek, Blue Hill Creek and Matrix Creek
  • Develop geologic 3D model for drill targeting and planning (ongoing)
  • Increase land position as required via claim staking and State lease applications (ongoing)
  • Initiate drill permitting at priority targets
  • Select drill targets and initiate drilling at Blue Hill Creek and Cold Creek
  • Develop drill plan at emerging targets (e.g. Matrix Creek) dependent on fieldwork results
  • Exploration drilling at Matrix Creek

29

OAKLEY -EXPLORATION PLANS

Oxidized and silicified black matrix breccia Black Matrix Breccia (BMB)

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▪ 100% ownership interest in the Kilgore Project and Oakley Project (no royalties)

Secured leading gold producer, Agnico Eagle Mines Limited, as strategic 9% investor

INVESTMENT RATIONALE

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▪ Excellent drill results at Kilgore: ▪ 2015 drill intercepts include 56.4 m of 2.05 g/t Au, 59.5 m of 3.79 g/t Au, 50.3 m of 4.24 g/t Au and 94.5 m

  • f 4.21 g/t Au

▪ 2016 drill intercepts include 30.5m of 5.37 g/t Au, 85.4m of 2.5 g/t Au, 128.0m of 1.78 g/t Au, 120.4m of 1.55 g/t Au and 80.8m @ 1.87 g/t Au ▪ 2017 drill intercepts include 129.4m of 1.66 g/t Au including 24.4m of 3.45 g/t Au, 73.1m of 1.13 g/t Au, 110.6m of 0.90 g/t Au, 65.5m of 1.21 g/t Au and 62.5m of 1.11 g/t Au, 24.4m of 4.33 g/t Au and 53.3m of 1.23 g/t Au, 137.2m of 0.91 g/t Au, 118.9m of 1.41 g/t Au ▪ Kilgore Deposit remains open to southeast (step-outs off 24.4m of 4.33 g/t Au) and northwest (step-outs off 85.4m of 2.5 g/t Au)

  • Two-pronged approach at Kilgore comprising:

▪ Advance Kilgore Deposit by completion of PEA in 2019 and parallel commencement of development/permitting work; and ▪ Aggressive exploration beyond current Deposit to identify additional gold resources ▪ Experienced and committed management and technical team (comprising exploration, permitting, production, management and finance expertise)

Key Valuation Catalysts 1. Kilgore maiden PEA, 2019 2. Kilgore regional exploration and Deposit expansion drilling in 2019 3. Ongoing fieldwork at Oakley Project leading to drill program 4. Successful resolution of ICL complaint (Q4 2019)

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APPENDIX 1: DETAILED SHARE STRUCTURE

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Price per Financing Shares Post IPO $0.10 $210,000 2,100,000 IPO - PI Financial Corp. $0.20 $212,800 1,064,000 Post IPO $422,800 3,164,000 December 2007 Private Placement $0.25 $550,000 2,200,000 Oakley Project Acquisition - Shares n/a 6,000,000 Kilgore Project Acquisition - Shares n/a 3,300,000 July 2008 Private Placement $0.50 $1,882,500 3,765,000 June 2009 Private Placement $0.25 $1,175,500 4,702,000 October 2009 Private Placement $0.65 $2,433,950 3,744,538 Warrant Conversion - July 2009 Private Placement $0.35 $1,690,150 4,829,000 Exercise of Options/Warrants $0.25 $115,483 461,931 October 2010 Private Placement $0.55 $2,744,500 4,990,000 February 2011 Private Placement $0.70 $4,046,390 5,780,557 March 2012 Private Placement $0.20 $1,458,500 7,292,500 October 2013 Private Placement $0.05 $315,000 6,300,000 April 2014 Private Placement $0.07 $400,200 5,717,143 June & July 2015 Private Placement $0.05 $2,060,000 41,200,000 November 2015 Private Placement $0.12 $500,000 4,166,667 July 2016 Private Placement $0.17 $2,298,860 13,522,706 Exercise of Options (average) $0.15 $85,389 569,259 Exercise of Warrants (April 2014 PP) $0.15 $857,571 5,717,143 December 2016 Private Placement $0.27 $800,000 2,962,963 Exercise of Options $0.18 $18,000 100,000 Agnico Eagle Mines Limited Private Placement $0.35 $5,047,000 14,420,000 Exercise of Options $0.05 $37,500 750,000 Blue Hill Creek Property - Payment $0.30 $112,100 380,000 Exercise of Options (average) $0.06 $105,000 1,750,000 Exercise of Options - Sep & Oct 2018 $0.15 $156,750 1,045,000 Exercise of Warrants (June 2015 PP) $0.15 $1,950,000 13,000,000 Exercise of Options - Jan & March 2019 $0.07 $42,000 600,000 Issued and Outstanding $31,305,143 162,430,407 Options (price based on average strike price) $0.14 $1,710,000 12,375,000 Warrants $0 Shares Fully Diluted $33,015,143 174,805,407

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Head Office Suite 580 – 625 Howe Street Vancouver, BC, V6C2T6 Canada Exploration Office PO Box 312, 127 West Main St. Dubois, Idaho, 83423 USA

www.otisgold.com

For more information, please contact: Craig Lindsay, President & CEO – craig@otisgold.com Tony Perri, Corporate Development/Investor Relations – tony@otisgold.com

Office: 604-683-2507