Developing Canadas Next Gold Camp 2018 E UROPEAN G OLD F ORUM P ARK - - PowerPoint PPT Presentation

TSX: NHK

Developing Canada’s Next Gold Camp

2018 EUROPEAN GOLD FORUM PARK HYATT, ZURICH

Presenter: Dr. Michael Byron, President & CEO

April 17, 2018 TSX: NHK OTCQX: MIMZF

TSX: NHK

FORWARD-LOOKING INFORMATION This presentation contains “forward-looking statements” within the meaning of applicable United States securities legislation and “forward-looking information” within the meaning of applicable Canadian securities legislation, together “forward-looking information”. This forward-looking information is made as of the date of this presentation and Nighthawk Gold Corp. (“Nighthawk”, or “NHK”) does not intend, and does not assume any obligation, to update the forward-looking information. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking information”. Forward looking information in this presentation includes, but is not limited to, statements with respect to: planned exploration activities including size of program and extent of budget and any development plans, the results and success of such activities and the timing thereof, including any potential for future production; completion of additional metallurgical results, the timing and results thereof; preparation and filing of an updated NI 43-101 technical report and the timing thereof; and potential acquisitions and expenditures associated with such. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking

• information. Such factors include, among others, risks related to government regulation; actual results and success of exploration, development and production decision if any; changes in

project parameters as to plans continue to be refined; the ability to enter into joint venture or to acquire or dispose of property interests; fluctuations in the price of gold; accidents and other risks of the mining industry; ability to obtain financing; and delays in obtaining governmental approvals or financing. Although Nighthawk has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause 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 information. Accordingly, readers should not place undue reliance on forward-looking information. Nighthawk does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Nighthawk does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. MINERAL RESOURCES The Company has defined inferred mineral resources in accordance with National Instrument 43-101 - Standard of Disclosure for Mineral Projects (“NI 43-101”) in respect of the Colomac Gold Project. This presentation uses the term “inferred” mineral resources. United States investors are advised that while such term is recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize it. “Inferred mineral resources” have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies, except in limited circumstances. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. QUALIFIED PERSONS All scientific and technical information relating to the Colmac Gold Project is based on and derived from the NI 43-101 report entitled “Technical Report and Mineral Resource Estimate Update

• n the Colomac Property of the Indin Lake Project, Indin Lake Belt, Northwest Territories, Canada” date of June 17, 2013. Technical report was prepared by Mr. Ian D. Trinder, M.Sc., P.Geo. of

A.C.A. Howe International Limited who is an independent “Qualified Person” under NI 43-101. The full report is available from the Company’s corporate website www.nighthawkgold.com or under the Company profile on SEDAR at www.sedar.com. All scientific and technical information in this presentation has been reviewed and approved by Dr. Michael Byron, Ph.D., P.Geo., the Company’s President & CEO, who is the 'qualified person' for the purpose of NI 43-101. GENERAL AND ADDITIONAL INFORMATION Additional information regarding Nighthawk is filed under the profile of Nighthawk on the SEDAR website at www.sedar.com, and readers are advised to refer to such documents for further information. All dollar amounts are in Canadian dollars unless otherwise denoted.

2

Forward-Looking Statement

TSX: NHK

• District scale land position – 899 km2 -

3x the size of the Timmins Gold camp

• Vastly underexplored with numerous

targets and showings identified

• Priority regional targets will be drill

tested in 2018

3

NHK Investment Highlights

• 2.1 Moz Inferred Resource 39.8Mt @ 1.64 gpt1
• 2014: High-grade gold zone discovered
• Extremely positive metallurgy (96.5-98.0%)
• ~25,000m drilled in 2017
• H1 2018: updated NI 43-101 Resource

Estimate

Led by Dr. Michael Byron2

Founding member of Aurora Platinum, Lakeshore Gold and Falco Resources

1. Refer to appendix for NI 43-101 mineral resource statement and notes 2. Cash balance as at December 31, 2017

$26.1 MM Cash Balance2

• Management team with proven track record

in successful exploration

• Diversified board with capital markets, mine

building and political expertise

• Fully funded for the next 24 months
• Anchored by strategic investors: Kinross

Gold Corporation and Osisko Royalties

Yellowknife

Northwest Territories

CANADA

INDIN LAKE GOLD PROPERTY

Flagship Asset

Colomac Gold Project 100% Owned

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Mining in the North

A Tier 1 jurisdiction for gold exploration

• Supportive Governments: Northwest Territory

and First Nation

• Remarkable metal endowment
• Extensive mining history
• Well established support services
• Timely and efficient permitting process

Alaska Yukon Nunavut NORTHWEST TERRITORIES

Known for its wealth of diamonds, NWT has mining potential that includes gold, lead, zinc, copper and iron ore. Resources account for approximately 30% of the territories

• GDP. The NWT government is proactive in supporting the

advancement of future projects. With existing support services in place; supportive and integrated first nations government; and plans to improve upon an already superior permitting process, it is a great place to conduct exploration.

Northwest Territories (NWT)

Indin Lake Property

Approved all-season road – construction to commence Q4/18

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Overview - Indin Lake Gold Camp

5

Vast and Underexplored Archean Gold Camp

• 222,203 acres (899 km2) Indin Lake Property
• Numerous gold deposits and showings distributed

throughout the camp

Echo Indin Treasure Island/ JPK Damoti Lake Leta Arm Colomac/Goldcrest/ Nice Lake Sill Fishhook

4 Distinct Deposit Settings Differentiated Mafic Sill

• Colomac
• Goldcrest

Structure Related “Lode Gold”

• Leta Arm (includes historical

North Inca & diversified mines)

• Echo Indin

Iron Formation Hosted

• Damoti Lake
• Fishook
• JPK

Brecciated Intrusion Hosted

• Cass Deposit

Numerous Gold Showings and Targets within the Indin Lake Gold Property

N

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Flagship Asset - Colomac Gold Project

2.1 Moz. Inferred Resource (June, 2013)

Includes: 39.8 Mt at 1.64 g/t Au1

• 5 deposits (Colomac, Goldcrest, Grizzly Bear, 24 & 27)
• Wide zones of near surface mineralization
• No royalties

Considerable Growth Potential

• ~16 km long underexplored host rock
• Potential for multi-million ounce resource
• Newly discovered high-grade gold zone
• Newly discovered Nice Lake sill yet to be drilled

Excellent Preliminary Metallurgy

• High recoveries of 96.5% to 98.0%3
• Amenable to standard gold recovery techniques
• No adverse materials detected
• Cyanide heap leach (bottle roll test) up to 81.8% gold

recoveries

Low Discovery Costs

• $8/Oz vs. industry average of <$32/Oz2
• Simple geometry results in a >97% hit rate

> 97% of Drill Holes Intersected Gold Mineralization

1. Refer to appendix for NI 43-101 mineral resource statement and notes. 2. Based on the 2013 NI 43-101 3. See appendix for Metallurgical comparisons on the lower grade and higher grade material

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High-Grade Potential: Kalgoorlie Analogue

Colomac

Property

Kalgoorlie NWT

Location

Western Australia ~10km strike length

Size

>10km strike length ~0.5 Mozs

Gold Production

>60 Mozs Archean

Age

Archean 7

Both Deposits Share Similar Characteristics

• Deposits hosted by fractionated mafic intrusions

within mafic volcanic rock stratigraphy

• Gold Concentrated within the more silica-rich

fractions (tops of sills)

• Location of high-grade zones largely controlled

by structure

2.5 5 km

Kalgoorlie Colomac

Using Kalgoorlie as an analogue assists with developing priority drill targets.

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Colomac Main Sill Longitudinal Section

1.

Refer to press releases dated Dec/3/2014; Oct/26/2015; Oct/12/2016; and Sept/13, 2016.

2.

Refer to press release dated Oct/12/2012.

3.

Refer to press release dated Jun/20/2012

4.

Refer to press release dated Sept/19/2012.

5.

These results are historical in nature and Nighthawk has not independently verified the results.

Gold Occurs Throughout the Colomac Sill

• The Colomac Main Sill is 9 km long, up to 160 m wide
• 2 km of untested ground to the south & 2 km underexplored

ground between Zones 1.5 and 1.0

• Gold intersected down to 800 m

Resource Expansion Opportunities

• Continue to expand high-grade Zone 1.5 to depth
• Continue to test void between high-grade Zones 1.5 and 2.0 –

current strike length upwards of 400 m

• Continue drilling down-plunge within high-grade Zone 3.5
• Target other high-grade zone possibilities (ex. Zone 1.0)

22.75 m @3.43 gpt Au4 203.40 m @2.49 gpt Au (down plunge)2 4.75 m @7.63 gpt Au 12.19 m @3.24 gpt Au (Historic, 1997)5 46.15 m @2.81 gpt Au3 89.10 m @1.52 gpt Au (2017) 7.32 m @2.98 gpt Au (Historic, 1997)5 55.95 m @ 1.09 gpt Au1 48.50 m @ 1.88 gpt Au (2017)

Zone 1.5 intercepts1

52.50 m @7.78 gpt Au (2014) 32.95 m @4.19 gpt Au (2015) 52.07 m @7.72 gpt Au (2016) 72.65 m @5.58 gpt Au (2016) 23.70 m @4.78 gpt Au (2017) 55.35 m @3.00 gpt Au (2017) 22.70 m @6.68 gpt Au (2017)

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Zone 1.5 High-grade Discovery – Cross Sections

High-grade intercepts with true widths up to 50 m

C Zone 1.5 discovery hole

C Zone 1.5 additional drilling

C

Looking West

Drill Hole Assay Results Hole C15-06** 31.20 m @ 3.89 gpt Hole C16-03** 52.07 m @ 7.72 gpt Hole C16-03B** 72.65 m @ 5.58 gpt

**see press release dated Oct/26/2015; Sept/13/2016; and Oct/12/2016

Drill Hole Assay Results Hole C14-06* 52.50 m @ 7.78 gpt incl 21.0 m @ 16.73 gpt

*see press release dated Dec/03/2014

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Zone 1.5 Drill Hole Density

10

Zone 1.5 longitudinal section (looking west) Drill Hole Assay Results

C14-06* 52.5 m @7.78 gpt Au C15-04B 32.9 m @ 4.19 gpt Au C15-06 22.50 m @5.03 gpt Au C16-01 31.5 m @ 4.14 gpt Au C16-03 52.07 m @7.72 gpt Au C16-03B 72.65 m @5.58 gpt Au C17-02B 33.45 m @ 2.40 gpt Au C17-02C 24.3 m @ 4.19 gpt Au C17-04B 24.3 m @ 4.48 gpt Au C17-08 19.5 m @ 5.58 gpt Au C17-08B 10.40 m @ 7.48 gpt Au C17-12B 145.75 m @ 3.33 gpt Au Including 21.65 m @ 5.53 gpt Au Significant intersections are highlighted in yellow and are highlighted in the table below.

*Discovery hole

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Colomac High-Grade Gold Targets

Highlights from 2017 Drilling

• Broad zones of mineralization with internal higher-

grade cores

• Best intercepts to date from Zone 1.0 (hole C17-19)

and Zone 2.0 (hole C17-17B)

• Zone 2.0 extended further to the north and remains
• pen
• Zone 1.0 appears to be widening at depth

Exploration Focus

• Structure influences location of high-grade zones
• Base of sills define magnetic high trend - mag

deviations/disruptions (possible cross cutting structure) are favourable sites for the development

• f high-grade gold zones
• Fault related offsets in sill mark areas of interest
• Sill width increases between fault offset

boundaries – potential broad zones of mineralization with internal higher-grade cores

• High-grade Zone 1.5 discovered based on this

methodology – first occurrence of distinct high- grade gold domains

• New priority targets identified

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COLOMAC GOLD PROJECT (2 focused drills approx. 16,000 m of drilling)

• Continue to test Clomac Main Sill at Zones 1.0, 1.5,

2.0, 3.5

• Test the Goldcrest sill to the west
• Test the Grizzly Bear Deposit for higher grade zones
• f mineralization

REGIONAL DRILLING (1 dedicated drill approx. 9,000)

• Leta Arm (Diversified, North Inca, #3 and Lexindin

showings) – testing the down plunge and strike extensions of vein systems

• Damoti Lake (high grade gold deposit) – resource

growth potential

• Treasure Island – 6km mineralized corridor hosting

several gold showings

• Follow-up on prospective targets like Nice Lake,

Echo-Indin, JPK, Andy Lake & Swamp REGIONAL MAPPING & PROSPECTING

• Continuation of focused mapping and prospecting

programs directed at advancing regional showings and deposits to drill ready status

2018 Exploration Program Commenced in March

25,000 metres ($11MM budget)

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Leta Arm Regional Exploration Target

Select Surface Sampling Results

13

Located 15km southwest of Colomac along the Leta Arm Fault Zone (“LAFZ”) within a well mineralized deformation zone up to 10 kilometres long and 500 metres wide that hosts several gold deposits and showings: High-Grade Gold Discovered at Leta Arm

• Outcrop sampling in 2017 along the 10-kilometer

long corridor continued to define the high-grade gold trend with assays up to 95.4 gpt Au and 29.4 gpt Au

• Gold mineralization is associated with both flat

lying and vertical quartz-carbonate veins found near and within the LAFZ.

Drilling in 2018 will focus on:

• Extending the deposits and exploring for a

potential connection along strike

• Actively searching for new deposits along the

LAFZ

See press release dated April 12, 2018.

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Diversified Mine #3

Area of focus 2010 winter drill program

NHK 2009 & 2010 Drill Programs

2009: 27 holes 5,670 m total 2010: 42 holes 7,977 m total

Area of focus 2010 winter drill program

Highlights of Drilling:

• 10.53 m of 63.48 gpt Au
• 23.50 m of 13.91 gpt Au
• 23.5 m of 13.91 gpt Au
• 11.25 m of 32.21 gpt Au
• 22.30 m of 9.31 gpt Au
• 5.00 m of 21.35 gpt Au

Damoti Lake Gold – Regional Exploration Project

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Treasure Island 2017 Surface Sampling – New Discovery

Located 11 km north of Colomac 6km mineralized corridor that hosts several gold showings

• Treasure Island Main Zone
• Booty Showing
• Newly discovered Seadog

Showing

Sample Type Length (m) Au (gpt) Ag (gpt)

H558924 Channel

1.0 19.85 4.80

H558903 Channel

0.5 10.85 1.80

H558901 Channel

0.5 6.86 1.50

H558902 Channel

0.5 4.74 0.90

H558923 Channel

1.0 2.05 1.60

H558920 Channel

1.0 0.93 0.80

R458030 Grab

• 27.80

4.10

R458031 Grab

• 5.73

2.00

R458028 Grab

• 1.35
• Main Zone

See press release dated April 12, 2018.

Seadog Showing - Select Surface Samples

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Key Advancements

UPCOMING CATALYSTS OPPORTUNITIES

• Additional metallurgical results on the

higher grade material at Colomac – Bottle Roll and Column Leach Test

• Updated 43-101 will incorporate:
• ~25,000 m of drilling from 2013-2016
• ~25,000 m of drilling from 2017
• High-grade mineralization (Zone 1.5)
• Results from 2018 Drill Program
• Underground bulk mining option

for Colomac high-grade zones

• Potential heap-leach
• pportunities for lower-grade

mineralization

• Indin Lake satellite deposits

provide high-grade feed

• pportunities to augment

Colomac

• Progressive NWT government

committed to infrastructure development and mining

• 100% ownership of burgeoning

gold camp

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Appendix

TSX: NHK TSX: NHK 15% 9% 9% 3% 16% 43% 5%

Ownership Structure

Northfield Capital Corporation Kinross Gold Corporation Osisko Royalties McEwen Mining Institutional Other Private Equity & Retail Board / Management

Share Structure & Working Capital

Issued & Outstanding (basic) (Feb/28, 2017) 188.6 Options outstanding

In-the-money Options (avg. strike price - $0.48)

12.5 Warrants outstanding (expire Sept/2018)

Broker warrants ($0.70) Warrants ($1.10)

0.8 15.9 Fully Diluted 217.7 Closing share price (C$) (February 21 , 2017) $0.65/share Market capitalization (C$) (basic) $122.6

52 Week Low: $0.57 52 Week High: $1.15

Cash Balance (C$) (December 31, 2017) $26.1

Flow-through (to be spent by December 2018) $9.9 Hard Dollars $16.2 18

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• 100

200 300 400 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 12% 15% (27%) (16%) 1%

NHK Relative Share Price Performance

Note: Shown in 000s shares

Peer Group: Ascot, ATAC, Auryn, Eastmain, Falco, Treasury, Marathon, Moneta Porcupine, NewCastle, Probe Metals, Pure Gold

1. Market data as at March 26, 2017. Source: Bloomberg Financial Markets.

NHK Avg. Daily Volume1

(Over Various Periods)

Spot Gold GDX Index GDXJ Index Nighthawk Peers

Strategic Investment by Kinross

(C$7.2 mm, 9.4%)

343 266 234 227 2-Year 6 Month YTD 3 Month

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Directors & Officers

MANAGEMENT

• Dr. Michael Byron

President & CEO, Director

• 30+ years experience in mineral exploration and senior

management

• Former VP Exploration for Lake Shore Gold Corp., Falco Resources

Ltd., and Aurora Platinum Corp.

• Proven track record building gold and base metal resources

Michael Leskovec

CFO

• CPA with 15+ years of financial experience within public practice and

the mining industry

• VP, Northfield Capital
• Former Officer of Gold Eagle Mines Ltd

Suzette N. Ramcharan

VP, Corporate Development

• 17+ years of experience with exploration, development and

producing companies in the precious metals space

• Previously worked with Kirkland Lake Gold Inc., St Andrew

Goldfields Ltd., Gold Eagle Mines Ltd., and Gabriel Resources Ltd.

Luc Lessard

• Mining engineer with

+25 year experience, including building the Canadian Malartic Mine

• Sr. VP, Technical

Services of Osisko Gold Royalties and President & CEO of Falco Resources Ltd

Morris Prychidny

• 35+years experience in

the mining and real- estate industries

• Board member of

numerous investment and mining companies

Brian Howlett

• CPA with 25+ years of

experience in senior financial roles

• Proven track record of

adding value to clients and employers

• Officer/Director

experience with junior exploration companies

Brent Peters

• 15+ years of experience

in the mineral exploration business

• VP, Finance of

Northfield Capital, former CFO of Gold Eagle Mines Ltd

Ernie Eves

• Former Premier of Ontario
• Former Ontario Minister of Finance

DIRECTORS

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Colomac NI 43-101 Resource Estimate on the

Zone Tonnes Grade

(g/t Au)

Contained Gold Ounces

Colomac North

6,963,000 1.24 276,900

Colomac Central

19,170,000 1.63 1,002,000

Colomac South

10,840,000 1.96 684,500

Goldcrest North

678,500 2.23 48,650

Goldcrest South

434,900 2.14 29,880

Sub Total

38,090,000 1.67 2,042,000

Grizzly Bear (Not Updated, No Change)

807,000 1.04 27,000

27 (Not Updated, No Change)

528,000 1.21 20,000

24 (Not Updated, No Change)

390,000 0.96 12,000

Sub Total

1,725,000 1.06 59,000

Total 39,815,000 1.64 2,101,000

Inferred Mineral Resource Estimate (Effective at June 17, 2013)

Notes: 1. A block cut-off value of 0.6 g/t Au was applied to all resource blocks. 2. Tonnes and ounces have been rounded to reflect the relative accuracy of the mineral resource estimate; therefore numbers may not total correctly. 3. Mineral Resources were calculated with commercial mining software. 4. For 2013 updated Colomac and Goldcrest block models: Drill holes traces showing lithology and gold grade were reviewed in plan and cross section. Geological domains were created using Leapfrog Implicit Geological Modeling Software. Assays with each domain were top cut to 31 g/t and then composited to regular 5ft intervals. Block model grade interpolation was undertaken using Ordinary Kriging (OK). 5. For 2012 Grizzly Bear, 24 and 27 block models: Drill holes traces showing lithology and gold grade were reviewed in plan and cross section to generate mineralised domains. Assays with each domain were top cut to 31 g/t and then composited to regular 5ft intervals. Block model grade interpolation was undertaken using Multiple Indicator Kriging (MIK). Refer to Lee and Trinder (2012). 6. The resource estimate was prepared by Leon McGarry, B.Sc., Geologist, ACA Howe and supervised by Ian Trinder, M.Sc., P.Geo., ACA Howe. 7. Gold price is US$1500 per ounce. 8. A default average specific gravity (SG) value of 2.7 has been used. 9. Mineral Resource tonnes quoted are not diluted.

• 10. No Measured or Indicated Resources or Mineral Reserves of any category are identified.
• 11. Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. This mineral resource estimate includes Inferred mineral resources that are normally considered too speculative

geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these Inferred mineral resources will be converted to the measured and indicated resource categories through further drilling, or into mineral reserves, once economic considerations are applied.

• 12. 1 troy ounce equals 31.10348 grams.

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Grade Sensitivity Analysis on 2013 Resource Estimate

Disclaimer: The reader is cautioned that the figures in this table are not a Mineral Resource Statement, but are only presented to show the sensitivity of the block model estimates.

Sensitivity analysis indicates grade increases to 1.94 gpt at a 1.0 gpt cut-off Sensitivity analysis indicates grade increases to 1.94 gpt at a 1.0 gpt cut-off

2.1 Moz. @ 1.64 gpt

Resource Estimate (2013)

1.8 Moz @ 1.94 gpt

Sensitivity Analysis

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Highlights of Preliminary Metallurgy (1st & 2nd Generation)

 No adverse materials detected  Variation in rock hardness of all test samples was minimal indicating that the material is relatively homogeneous host rock  The master composite sample, having a head grade of 1.81 grams per tonne gold measured by fire assay, generated favourable recoveries for all process options, including heap leaching, flotation, and gravity separation. On the higher grade material, head grades varied significantly between the fire assay and screened metallic assays due to the nugget effect of gold within the deposit  Gold extraction by flotation ranged from 94.1% - 95.5% on the lower grade, with maximum recoveries achieved at F80 151 microns, and between 90.7 – 94.6% on the higher grade, with maximum recoveries achieved at F80 75 microns  Cyanide heap leaching of minus 12,700 micron material reported up to 81.8% gold recoveries, perhaps an option for lower grade material which would otherwise be considered waste  Cyanidation of ground rock increased gold recovery significantly up to 96.5% on the lower grade and 98.0% on the higher grade. Test Description Particle Size Au Recovery (%) P80 (microns)

Master Composite - Lower Grade High Grade

Flotation Fine 75 94.9 94.6 Medium 105 94.1 93.5 Coarse 151 95.5 90.7 Gravity (Centrifuge) Fine 75 33.3 54.3 Medium 105 45.0 40.5 Coarse 150 25.9 42.8 Leaching Heap

• 12,700

81.8 pending Whole Ore 148 96.4 96.4 Gravity + Leach 105 96.5 98.0

Refer to press releases dated April 19, 2017, and February 21, 2018.

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2017 Drill Program – Colomac Cross Section

Zone 1.5 (Released June 8 and July 13, 2017)

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2017 Drill Program – Colomac Cross Section

Zone 1.5 (Released August 24, 2017)

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Colomac Cross Section – Zone 2.0

Highlights from 2017 Drilling:

• Hole C17-17B intersected 89.10

metres (50.00 metre true width)

• f 1.52 gpt Au, including 12.00

metres of 5.02 gpt Au, and including 6.40 metres of 8.61 gpt Au;

• C17-17B confirmed that the

mineralized widths, and internal higher-grade core previously intersected in 2012 drilling to the south, extend further north and remain open

• presents another high-grade

gold target within the Colomac sill

*see press release dated Sept/18/2017

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Colomac Cross Section – Zone 1.0

Highlights from 2017 Drilling:

• Hole C17-19, returned the best

intercept to date at Zone 1.0

• 48.50 metres (45 metres true

width) of 1.88 gpt Au, including 20.00 metres of 3.07 gpt Au, and including 9.85 metres of 5.08 gpt Au

• Zone 1.0 appears to widen from

70.00 metres true width close to surface to 115.00 metres at depth

• similar to Zone 1.5 where the

mineralized true width tripled to depth

*see press release dated Sept/18/2017

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Grizzly Bear Deposit – 2017 Drill Program

N

12

At the end of the 2017 Drill Program, two holes tested the Grizzly Bear Deposit, part of the Colomac Gold Project

• While not a silicified competent sill

like the Colomac and Goldcrest deposits, being brittle, it has the capacity to host higher grade mineralization.

• Drilling has confirmed the presence
• f higher grade mineralization at

Grizzly Bear over significant widths and to new depths.

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Leta Arm Drilling Highlights

Hole ID Core Length (metres) Gold Grade (gpt) Deposit News Release

NI11-01 23.00 1.82 North Inca East Jun/15/2011 including 6.00 2.21 North Inca East NI11-02 26.00 6.86 North Inca East including 3.45 44.34 North Inca East DV11-02C 11.75 7.23 Diversified including 7.40 11.38 Diversified NI11-04 16.90 6.08 North Inca West Sept/06/2011 Including 3.44 22.07 North Inca West NI11-04B 37.00 2.29 North Inca West Including 16.50 4.20 North Inca West Including 2.00 15.72 North Inca West And 3.20 14.03 North Inca West NI11-04C 4.81 16.36 North Inca West DV11-09 3.00 65.35 #3 Nov/21/2011 And 5.20 12.90 #3 Including 2.85 22.12 #3 NI11-06 5.50 8.84 North Inca West Including 2.44 18.20 North Inca West NI11-07B 12.00 2.00 North Inca West including 5.20 3.90 North Inca West

 Hole NI17-02 intersected 9.55 metres (7.80 metre true width) of 4.03 gpt Au, including 3.00 metres

• f 8.14 gpt Au;

 Hole NI17-01 intersected 13.20 metres (11.00 metre true width) of 2.24 gpt Au, including 8.50 metres (7.20 metre true width) of 3.24 gpt Au;  Drilling to-date confirms the presence of an underexplored yet fertile and extensive land package hosting multiple gold deposits and showings;  Follow-up drilling is planned as part

• f the 2018 exploration program.

2011 Drilling Highlights 2017 Drilling Highlights 1

1. See press release dated January 17, 2018.

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